Slide 1: IPH Proposal to Acquire Xenith IP
IPH Proposal to Acquire Xenith IP Appendix 12th March 2019 www.iphltd.com.au 1
Slide 2: Disclaimer
Disclaimer This document has been prepared by IPH Limited (IPH) and comprises written materials/slides for a presentation No representation, warranty or assurance (express or implied) is given or made by IPH that the concerning IPH and its proposal to acquire Xenith IP Group Limited (Xenith). forwar
Slide 3: IPH's Proposal to acquire Xenith IP
IPH’s Proposal to acquire Xenith IP IPH Proposal Offer details • Under the IPH Proposal, Xenith shareholders will receive for each Xenith share: • The IPH Proposal is a binding offer capable of acceptance by Xenith - $1.28 cash; and • Subject to minimal conditions, substantially similar to the QIP m
Slide 4: Benefits for Xenith and its shareholders
Benefits for Xenith and its shareholders Vision for the combined group Strategic fit • Become a leading IP services provider in secondary IP markets • IPH and Xenith are complementary in terms of their member firms’ key service offerings as full service • Draw on the strengths and advantages of each
Slide 5: Offer premium
Offer premium The offer price reflects a significant premium for Xenith shares $1.97 23.3% 30.0% 58.2% 56.7% 29.6% 22.7% 1.598 1.605 1.515 1.520 1.245 1.257 1 Implied QIP merger value Independent Expert Valuation Close price (prior to merger 12 month VWAP (prior to merger 12 month max price (prior t
Slide 6: The IPH Proposal is superior to the QIP merger
The IPH Proposal is superior to the QIP merger Benefits of the IPH Proposal Significant premium to recent trading in Xenith shares, Independent Expert valuation 1 and QIP merger consideration2 Significant cash consideration provides certainty of value Enhanced stock liquidity and inclusion in the AS
Slide 7: The IPH Proposal is superior to the QIP merger
The IPH Proposal is superior to the QIP merger IPH Proposal QIP Merger ✔ Cash consideration 65% cash × Nil cash Certainty of value ASX 200 index ✔ × Liquidity ✔ × IPH annual turnover c.140%1 QIP annual turnover c.20%1 ✔ Asia opportunities 20 years experience. × IPH Asia underlying 1H2019 revenue of
Slide 8: Share price performance
Share price performance IPH share price since IPO - reinforcing record of wealth creation for shareholders and employees 400% 350% IPH has delivered substantial returns to its investors since IPO, 300% including ex-vendors in subsequent acquisitions 250% +3x IPO price The IPH proposal enables Xenith
Slide 9: Combined Group overview
Combined Group overview Asia Pacific’s leading IP services group 1000+ Spruson & Ferguson Griffith Hack Employees AJ Park Shelston IP 25.5K+ Patent Filings2 Watermark Pizzeys Glasshouse 440+ Practice Insight Advisory Professional staff1 9.5K+ Trade Mark Filings2 1. Inclusive of Principals. 2. Approx
Slide 10: How IPH helps Xenith meet its transformational goals
How IPH helps Xenith meet its transformational goals Xenith’s Transformation Plan1 Achieved by a combination of IPH and Xenith Our people: Create an inspiring, innovative and high performance culture 01 that reflects the values of our people and attracts, retains and rewards top talent An opportunit
Slide 11: Leverage IPH's established Asia Pacific platform
Leverage IPH’s established Asia Pacific platform Existing platform across the Asia Pacific region providing significant and more immediate opportunities than the QIP merger China Hong Kong Indonesia IPH has an established and substantial Asia Pacific geographic platform Malaysia Singapore 20 years e
Slide 12: Complementary service offerings
Complementary service offerings Complementary in terms of our key service offerings as full service patent and trade mark attorneys and IP lawyers XIP Service Locations IPH Service Locations IP Services ✔ ✔ Australia/New Zealand Patents Australia + Asia ✔ Australia/New Zealand Trade Marks ✔ Australi
Slide 13: Strong track record of acquisitions
Strong track record of acquisitions IPH and Xenith are best positioned together with significant capital strength for future growth opportunities IPH has a strong track record of successfully completing acquisitions with a high rate of retention of ex-vendor Principals. Our most recent acquisition t
Slide 14: We value our people
We value our people Culture and values that focus on clients, rewarding performance and providing career growth opportunities for our people March 2019 | www.iphltd.com.au 14
Slide 15: Our culture underpins our success
Our culture underpins our success Each business within the IPH Group has its own distinct culture aligned to the Group’s vision, which has greatly contributed to its success IPH is committed to building and growing a thriving business for the future. IPH’s success is underpinned by its core values a
Slide 16: Our story
Our story IPH is a leading intellectual property (IP) professional services group in the Asia-Pacific region. As the first IP services group to list on the Australian Securities Exchange in 2014, IPH has always had an eye towards the future. From our foundation and listing, IPH has expanded its busi