Aeris Resources Limited · ASX:AIS

Aeris Resources — Corporate Update (February 2018)

16 slides from Aeris Resources's corporate update, Feb 28, 2018

  1. Slide 1: Debt Restructure Presentation

    Debt Restructure For personal use only Presentation Producing Exploring Growing 28 February 2018 ASX: AIS

  2. Slide 2: Disclaimer

    Disclaimer For personal use only Forward-Looking Information Certain statements contained in this press release constitute forward-looking statements or forward-looking information. The words “intend”, “may”, “would”, “could”, “will”, “plan”, “anticipate”, “believe”, “estimate”, “expect”, “target” a

  3. Slide 3: Unshackling of a mid-tier copper producer

    Unshackling of a mid-tier copper producer For personal use only • Aeris’ ability to grow has been restricted by high debt levels and complex capital structure • This transaction:  Materially reduces debt levels 2013  Simplifies $135M capital structure and halves shares issued on a fully diluted ba

  4. Slide 4: Significant value enhancing transaction

    Significant value enhancing transaction For personal use only 3 Value enhancing events in one transaction (~$107 million* excluding price participation)  Senior Debt reduced by 53% ― from US$63.3 million to US$30 million (includes US$5 million Arranger Fee)  Share Capital reduced by 50% (for $1) ―

  5. Slide 5: Debt reduction over years

    Debt reduction over 5 years For personal use only Total Debt (US$ millions) 64% (US$87 million) $136 $120 reduction in $77 debt since 2013 $49 FY13 FY15 FY17 Pro-Forma • SPOV (a subsidiary of a fund managed by PAG) bought SCB Senior Debt position in December 2017 • Aeris and SPOV agree to restructur

  6. Slide 6: SCB agree to cancel majority of their Preference Shares

    SCB agree to cancel majority of their Preference Shares For personal use only Fully Diluted Shares (millions) 934 Existing shareholders 560 effectively 467 SCB Preference shares 93 double their 93 93 holdings in the Management options 140 PAG preference shares 140 Ordinary shares 280 Company Pre Pos

  7. Slide 7: Key Restructure highlights

    Key Restructure highlights For personal use only Balance sheet de-levered via significant debt restructure and refinancing  Senior Debt reduced from US$63 million to US$30 million with option to reduce by further US$5 million through issue of shares in lieu  SCB Senior Debt facility extinguished a

  8. Slide 8: Company Snapshot

    For personal use only Company Snapshot

  9. Slide 9: Company Snapshot

    Company Snapshot For personal use only Current Pro-forma Board Shares on issue 140.1 million 280.2 million** Andre Labuschagne Executive Chairman Options and Convertible Michele Muscillo Director 794 million 186.8 million*** Preference shares Share price# 14 cents Market Alastair Morrison Director d

  10. Slide 10: Tritton Operations overview

    Tritton Operations overview Proven producer with extensive exploration portfolio For personal use only Key Statistics Ownership:  Aeris (100%) Location:  Nyngan, NSW, Australia Commodity:  Copper (Silver and Gold by-product) Product Type:  Concentrate Overview  Underground Mine Type:  Long hol

  11. Slide 11: Investment rationale: Poised for growth

    Investment rationale: Poised for growth For personal use only  Production - Established copper producer (27kt guidance for FY18)  Strong Foundations - Tritton Copper Operations performing with 5+ years Life of Mine Plan and exploration upside  Experienced Board and management team - Proven track

  12. Slide 12: Thank you

    For personal use only Thank you 12

  13. Slide 13: Appendices

    For personal use only Appendices 13

  14. Slide 14: Key restructure terms

    Key restructure terms For personal use only Senior Debt • SCB has sold its US$63.3 million Senior Debt facility (including accrued interest) to Special Portfolio Opportunity V Limited (SPOV) (a subsidiary of a fund managed by PAG) • SPOV and Aeris have agreed to restructure this debt to a new US$30

  15. Slide 15: Pro forma issued capital

    Pro forma issued capital For personal use only Current Pro Forma * Movement Item Note (million) (million) (million) Ordinary Shares 140.1 280.2 140.1 1 Convertible Preference Shares 700.6 93.4 -607.2 2 Management Options 93.4 93.4 0 Fully Diluted Shares on Issue 934.1 467.0 -467.1 Notes 1. Ordinary

  16. Slide 16: Pro forma debt structure

    Pro forma debt structure For personal use only 31 Dec 2017 Pro Forma Movement Item Note (US$million) (US$million) (US$million) Senior Facility# 63.3 25.0 -38.3 1 Arranger Fee 0.0 5.0 5.0 Total Senior Debt 63.3 30.0 -33.3 Working Capital Facility# 19.5 17.9 -1.6 2 Other Debt# 1.3 1.3 0.0 Total Debt 8

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