Slide 1: Calix Limited Half Year Results FY2023
Calix Limited Half Year Results FY2023 21 February 2023
Slide 2: Important Disclaimer
Important Disclaimer This presentation has been prepared by Calix Limited (ABN 36 117 372 540) (“Company”). An investment in Calix securities is subject to investment and other known and unknown risks, some of which are beyond the control of Calix, including possible delays in repayment and loss of
Slide 3: Heirloom Direct Air Capture MOU
ASX Announcement Heirloom Direct Air Capture MOU Calix Limited 21 February 2023 3
Slide 4: Direct Air Capture
Direct Air Capture Core lime technology applied to atmospheric CO2 removal Direct Air Capture “No matter how fast we decarbonize the nation’s economy, • Removal of legacy CO2 emissions directly from we must tackle the legacy pollution already in our the atmosphere. atmosphere to avoid the worst effe
Slide 5: Direct Air Capture: Non-binding MOU with Heirloom
Direct Air Capture Non-binding MOU for DAC global licence agreement with Heirloom • Heirloom1 is a Direct Air Capture company with an objective of capturing 1 billion tonnes of CO2 by 2035. • Heirloom’s backers include Gates-led Breakthrough Energy Ventures, Carbon Direct and Microsoft. • The MOU ou
Slide 6: FY2023 Half Year Results Presentation
FY2023 Half Year Results Presentation Calix Limited 21 February 2023 6
Slide 7: Solving global challenges
Solving global challenges One core technology platform Five lines of business Multiple environmental business opportunities, focused on: • A specific global challenge • Consistent with our purpose, values & ethos • Significant market and shared value potential • Sustainable competitive advantages •
Slide 8: Calix's core technology platform
Calix’s core technology platform A new way to heat stuff up CO2 capture Capture of high purity An AUSTRALIAN invention… CO2 when processing limestone 28 patent families covering core technology and applications >A$120m has been invested to date in developing the Renewable technology energy-ready Che
Slide 9: FY23 achievements so far
FY23 achievements so far… Commercialisation of industrial decarbonisation solutions accelerates First licence agreement ZESTY awarded funding Leilac & CEMEX announce 3 Calix partner in methanol project for Leilac signs MOU for global licence for new projects sustainable fuels from CO2 Direct Air Cap
Slide 10: 1H FY23 financial update
1H FY23 financial update Investment in growth Calix Limited 1H FY23 financial result highlights In 1H FY23 Calix continued its planned investment in: 1. People, including 11 new engineers, 5 new people in sales and business development and 1 person in finance; A$88.8m cash on hand 2. Plant & equipme
Slide 11: Summary of results 1H FY23 – profit & loss highlights
Summary of results 1H FY23 – profit & loss highlights Investing heavily in capability to capitalise on technology commercialisation 1H 23 1H 22 Comments ($m’s) ($m’s) Revenues 12.7 10.5 Increase of 20.3% for 1H Gross margin on sales up to Gross Profit 2.6 2.8 30% Operating expenses Sales & Marketing
Slide 12: Balance Sheet strength
Balance Sheet strength Balance sheet strength to pursue commercialisation opportunities 31 Dec 22 30 June 22 ($m’s) ($m’s) Cash & Cash equivalents 88.8 25.0 Key take-aways... Total Assets 130.7 61.2 • Balance sheet strength to pursue Total Liabilities 15.0 16.4 commercialisation opportunities across
Slide 13: Industrial decarbonisation tailwinds
Industrial decarbonisation tailwinds Calix’s mission is being propelled by net zero commitments Government Investor Net zero policy activity spending ~90% US$42tn US$275tn of global GDP now assets of signatories Estimated spend under net zero to the ‘2022 Global required by 2050 to commitments.1 Inv
Slide 14: Policies driving decarbonisation
Policies driving decarbonisation Carbon penalties, value & support in Europe, US, and now Australia… EUROPE US AUSTRALIA Emissions Trading Scheme Inflation Reduction Act Safeguard Mechanism • €80 – 2022 average EU ETS price, up • US$85 / tonne of CO2 • A price on carbon, capped at AU$75 from €50 in
Slide 15: Decarbonising cement and lime: Market drivers
Decarbonising cement and lime Market drivers Largest single source of industrial emissions Carbon pricing: 36 carbon taxes & 32 Emissions Trading Systems, covering • ~8% of global emissions1 Cement~8% 23% of global emissions & generating • Unavoidable process emissions released directly from limesto
Slide 16: H1 FY23 – Leilac business model validation
H1 FY23 – Leilac business model validation Heidelberg Materials global licence executed • The licence agreement applies to any Heidelberg Materials facility where the Leilac technology is installed. – Heidelberg Materials operates 149 cement plants across five continents. – On average, each plant em
Slide 17: Scaling up the Leilac technology
Scaling up the Leilac technology Leilac-1, Lixhe, Belgium Leilac-2, Hannover Leilac-3 25,000 tonnes / year CO2 100,000 tonnes / year CO2 1 million+ tonnes / year CO2 1 tube 4 tubes – 1 module Several multi-tube modules Built: operational 2019 Passed FID Multiple in planning 17
Slide 18: Leilac's full scale vision
Leilac’s full scale vision BUT…we need to mitigate 1.4 billion tonnes per annum of process CO2 emissions = up to 3,000 Leilac-3s ~2 built every week from now until 2050 !! 18
Slide 19: A growing pipeline of projects
A growing pipeline of projects Project Detailed Pre-FEED / FID + Initial scoping FEED Operational Total discussions scoping / MOU BOD construction Aug 2021 21 7 4 1 1 34 Aug 2022 25 13 9 5 1 1 54 Feb 2023 34 19 8 6 2 1 1 71 Leilac-2 Leilac-1 • Pipeline growth: there are now 71 projects in the pipeli
Slide 20: Decarbonising shipping & aviation
Decarbonising shipping & aviation Leilac’s core technology applied into new markets Carbon capture for shipping • Combining renewably powered propulsion & lime-based carbon capture to develop a low-cost decarbonisation solution for shipping, in partnership with Windship Technologies Ltd. • The proje
Slide 21: Decarbonising iron and steel
Decarbonising iron and steel Indispensable, carbon-intensive & hard-to-abate Australian iron Decarbonisation tailwinds • >A$150b…44% of Australian export earnings in 20214 • 96% of Australian iron ore is hematite5 Net zero commitments ~7% 90% of global GDP6 of global • Value creation opportunity emi
Slide 22: Zero Emissions Steel Technology
Zero Emissions Steel TechnologY Potential lowest cost zero emissions iron & steel Simple Compatible H2 not process with fines & No fossil fuel No CCS combusted / (low pressure / lower grade requirement required easily no fluid beds) ores recycled About ZESTY BF / BOF + H2 × × × × • Hydrogen reduct
Slide 23: ZESTY development to date
Zero Emissions Steel TechnologY ZESTY development to date… Phase 1 & 2: Fe D50 SSA Pore Volume completed Wt %) (um) (m2/g) (cm3/g) Theoretical kinetic a) Siderite 43 87 25 0.035 a) studies Goethite / c) Conversion of b) 57 130 15 0.034 b) Hematite electric calciner to Goethite / run hydrogen c)
Slide 24: ZESTY pre-FEED / FEED study
Calix’s ZESTY Technology: pre-FEED / FEED study Towards Financial Investment Decision by end-2023 Pre-FEED / FEED study • A$947,035 ARENA grant. • Proposed 30,000 tpa, zero CO2 emissions ZESTY-iron demonstration plant. • Study towards final investment decision, including: - Testing / confirmation /
Slide 25: Phases 4 & 5: EPC & commercial demonstration
Phases 4 & 5: EPC & commercial demonstration A commercial demonstration facility would target modest capex & possible revenue recovery from sales of green iron Phase 4: Engineering, procurement & construction • Late 2023 to early 2025 • Construction, commissioning, testing of commercial demonstratio
Slide 26: Sustainable lithium joint venture with Pilbara Minerals
Sustainable lithium joint venture with Pilbara Minerals Electrification and mid-stream mineral processing Sustainable lithium tailwinds Joint Venture Executed 6x growth in lithium carbonate & 6x equivalents market by 20302 • JV Full Documentation Executed with $20m in Federal Government funding anno
Slide 27: Development of lithium salt project with Pilbara Minerals
Development of lithium salt project with Pilbara Minerals Targeting completion of FEED in FY23 Next steps • JV established (covering Demonstration plant & joint marketing of technology) • FID targeted H1 2023 • Market development – lithium phosphate salt • Construction targeted from Q2/3 2023 to H1
Slide 28: Advanced Batteries
Advanced Batteries Novel structured high power electrode materials Market trends Overview • Calix is developing high performance, lithium-ion hybrid batteries based on Global demand for lithium-ion batteries nano-active electrode materials produced by the BATMn reactor 18x expected to reach 4500GWh
Slide 29: Biotech
Biotech Novel bioactive materials for multiple global applications Market trends Overview • Calix’s Biotech business is developing novel magnesium oxide materials with Demand for non-chemical alternative high surface area and bio-activity, targeting three applications: crop protection products. Some
Slide 30: Water
Water Magnesium Hydroxide Liquid “MHL” – a safe alkali chemical Market trends Overview Wastewater that flows back into the 80% • Calix’s AQUA-Cal+ and ACTI-Mag provide safe, more effective, ecosystem without being treated or economical and sustainable solutions for the treatment of water reused and
Slide 31: Sustainability
Sustainability Sustainability achievements, commitments & ambitions • Reaffirmed our commitment to the UNGC; • Installed solar panels at Bacchus Marsh to power the BATMn all electric calciner; and • Committed to measuring, monitoring and reducing its carbon footprint; • Committed to measuring and re
Slide 32: Calix's FY23 priorities and progress
Calix’s FY23 priorities and progress… ⬤ Successfully completed ⬤ On track Continued acceleration – especially decarbonisation projects… ⬤ Watch point Advanced Sustainable Water Biotech Batteries Processing Crop protection Water treatment Advanced cathode & Renewable-powered mineral CO2 mitigation fo
Slide 33: Thank you
Thank you Calix Limited Half Year Results FY2023 21 February 2023
Slide 34: Board of Directors, Equity Structure, Glossary
Board of Directors, Equity Structure Glossary 34
Slide 35: Board of Directors
Board of Directors Peter Helen Fisher Jack Phil Dr Mark Turnbull, AM Non-Executive Hamilton Hodgson Sceats Non-Executive Director Non-Executive Managing Executive Chair Director Director & Chief Director And Executive Officer Chief Scientist Experienced Chair and Non- CEO and Managing Director of Bi
Slide 36: Listed on the ASX in July, 2018
Listed on the ASX in July, 2018 ASX:CXL Share Price Performance Since Listing As at 20 Feb 2023 Shares on issue ~161.0m Share price on IPO $0.62 per share Current Share price $5.25 per share Market capitalisation ~$950m Further Equity Detail As at 20 Feb 2023 Major shareholders As at 20 Feb 2023 Fre
Slide 37: Glossary
Glossary Term Meaning Aluminium (Al) Chemical element with the symbol Al Anode The negative electrode of a battery APVMA Australian Pesticides and Veterinary Medicines Authority BATMn Calix’s core kiln technology – electrified – for battery and catalyst materials production C, 2C, 4C, D Charge rate,
Slide 38: Glossary
Glossary Term Meaning Iron The chemical element, represent by “Fe” on the periodic table Iron Ore Iron oxide mixed with various other minerals, as mined and “pre-processed” (purified) as best as possible LFP Lithium Iron Phosphate – a battery cathode material LMO Lithium Manganese Oxide – a battery
Slide 39: Glossary
Glossary Term Meaning Nickel (Ni) Chemical element with the symbol Ni NCA A battery cathode material made from nickel, aluminium and cobalt NCM, or NMC A battery cathode material made from nickel, manganese and cobalt Pelletisation The formation of pellets from finer materials to aid in handling Pot
Slide 40: Phil Hodgson Managing Director & CEO
Phil Hodgson Darren Charles Managing Director & CEO CFO & Company Secretary phodgson@calix.global dcharles@calix.global +61 2 8199 7400 +61 2 8199 7400 Investor relations Media enquiries Investorrelations@calix.global media@calix.global Follow us on Twitter @Calixlimited www.calix.global Subscribe t