Slide 1: We Are Geodrill
WE ARE GEODRILL TSX: GEO.T OTCQX: GEODF Q3-2022 Investor Presentation Investor Presentation, November 2022 | 1
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS This presentation contains “forward-looking information” and “financial outlook” within the meaning of applicable Canadian securities laws and may contain forward looking information attributed to third party industry sources. These statements and information are predictio
Slide 3: Why Own Geodrill
WHY OWN GEODRILL 1 Established High-quality cash-generating business that trades at discounted multiples 2 Commodity boom offers massive tailwind - investing in the business that IS essential to the supply chain & runway to grow 3 Strong balance sheet supports growth and torque for commodity up-cycl
Slide 4: Hard Core Mineral Drillers Uniquely Positioned
HARD CORE MINERAL DRILLERS 25 years operating Uniquely Positioned in exploration drilling Industry Leading financial metrics ESSENTIAL Tier-1 rig Fleet TO THE MINING drives profitability INDUSTRY Innovative & Founder-led business Investor Presentation, November 2022 | 4
Slide 5: The Mineral Drilling Business
The Mineral Drilling Business Discovery In-fill Drilling Mine Drilling Drilling for Resource Modeling De-risking & Resource Expansion LIFE OF MINE $10-25M $2-5M $10-25M ANNUALLY Investor Presentation, November 2022 | 5
Slide 6: What Sets Geodrill Apart
What Sets Geodrill Apart HIGH PERFORMANCE RIG FLEET • Multi-purpose rig fleet attracts top tier clients • High performance rigs drive high value results STATE-OF-THE-ART FACILITY • Network of maintenance and support facilities ensures our fleet is well-maintained • Workshop manufactures 1,200 differ
Slide 7: We Invested in the Cycle
We Invested in the Cycle ORGANIC GROWTH PROFILE We invested in modern equipment and world-class operations to strategically Revenue EBITDA Rig Count position Geodrill for this 120 upcycle 115.2 67 68 71 100 64 We stand to benefit from industry 58 88.5 87.4 growth drivers 82.6 82.4 80 USD Millions •
Slide 8: Uptrend in Metals Pointing to Supercycle
Uptrend in Metals Pointing to Supercycle Global non-ferrous minerals exploration spend 1 24.0 Post-Pandemic (US$bn) Source S&P Global 20.0 Market Intelligence, MST Recovery & 16.0 Geopolitical Spend 12.0 Industrial Metals 2 8.0 Demand to grow to 4.0 accommodate 0.0 Infrastructure Spend 1997 1998 199
Slide 9: Global Exploration Drilling
Compelling Market Opportunity CAGR 7% $4.7 Billion GLOBAL EXPLORATION $2.9 Billion DRILLING RIG MARKET 2021–2028 2020 2028 www.fortunebusinessinsights.com Investor Presentation, November 2022 | 9
Slide 10: Our Growth Strategy
Our Growth Strategy 1 Rig Fleet Growth + Operation Excellence - 20% CAGR 2 Geographic Expansion - Eygpt & South America 3 Increase Profitability - Focus on margins Investor Presentation, November 2022 | 10
Slide 11: Financial Metrics Outperform the Industry
Financial Metrics Outperform the Industry Revenue Gross Profit EBITDA Earnings Revenue Gross Profit EBITDA Earnings $60.0 $160.0 $150.0 $140.0 Q3 Rev. +29% YTD Rev. +22% $50.0 $130.0 EBITDA +96% EBITDA +39% Income +108% $120.0 Income +36% $107.7 $110.0 $40.0 $100.0 $35.2 Millions USD $88.5 Millions
Slide 12: Strong Balance Sheet Supports Growth
Strong Balance Sheet Supports Growth Working Return Shareholders Net Tangible Capital On Equity Equity Book Value USD 53.7M 18% USD 103.5M USD 2.21 per share Cash USD 19.1M $0.06 Annual Total Rig Count Debt USD 13.4M Dividend 75 Rigs Debt/Equity 13% Net Cash USD 5.7M Debt/EBITDA LTM 35% Investor Pre
Slide 13: Strategically Positioned to Create More Value
Strategically Positioned to Create More Value EBITDA EV/EBITDA 2021 Market Shares EV in This Next This Next P/BV Revenue Cap in LTM LTM in MM USD Year Year Year Year X in USD USD Boart Longyear 295.92 $ 423.49 $ 599.74 100.83 N/A N/A 5.9 N/A N/A 1.46 BLY AU 921.40 Major Drilling 82.85 $ 522.24 $ 502
Slide 14: Portfolio of Long-Term Contracts Drives Visibility
Portfolio of Long-Term Contracts Drives Visibility Egypt West Africa 71 Rigs 8 Rigs Major Customers Peru 4 Rigs Investor Presentation, November 2022 | 9
Slide 15: Why Own Geodrill
Why Own Geodrill GROWTH strategically positioned for upcycle LONG-TERM contracts generates recurring revenue and free cash flow DISCOUNTED VALUATION 15 TSX: GEO.T OTCQX: GEODF Investor Presentation, November 2022 | 15
Slide 16: Mineral Drilling animation RC / DD, case study
Mineral Drilling animation RC / DD, case study Investor Presentation, November 2022 | 1 6