Slide 1: Morgans Business Breakfast
MORGANS BUSINESS BREAKFAST 23 AUGUST 2023 ASX:MSV
Slide 2: Market Profile
2 MARKET PROFILE ASX INFORMATION BOARD OF DIRECTORS ASX Stock Symbol MSV Nathan Mitchell Executive Chairman Shares on Issue (at 21/08/2023) 215,827,424 Scott Tumbridge Non- Executive Director Share Price (at 21/08/2023) A$0.40 Peter Miller Non-Executive Director Market Capitalisation A$86.33 Robert
Slide 3: Back to the Future
3 MORGANS BUSINESS BREAKFAST 23 AUGUST 2023 Now BACK TO THE FUTURE Then
Slide 4: The Mitchell Brand
4 MORGANS BUSINESS BREAKFAST 23 AUGUST 2023 THE MITCHELL BRAND
Slide 5: Growth & Sale of Mitchell Drilling
5 GROWTH & SALE OF MITCHELL DRILLING “We were a part of the coal seam gas boom that really kicked off in the late 1990s. We watched the rise and rise of CMB from nowhere to a $40 billion MORGANS BUSINESS BREAKFAST 23 AUGUST 2023 industry.We’ve been lucky enough to be a part of that.” - Nathan Mitche
Slide 6: History of Mitchell Services
6 HISTORY OF MITCHELL SERVICES 2013 2014 2015 2018 2019 2022 2023 Reverse merger MORGANS BUSINESS BREAKFAST 23 AUGUST 2023 in which ASX Tom Browne DTQ acquires Drilling asset Mitchell Nitro Drilling acquisition Services Pty Ltd asset Radco Drilling acquisition earnings Deepcore accretive Drilling ea
Slide 7: Ability to Deliver Revenue & Earnings Growth
7 ABILITY TO DELIVER REVENUE & EARNINGS GROWTH $243.10m $213.40m $191.40m $175.56m Average Operating Rig Count 77.5 Average MORGANS BUSINESS BREAKFAST 23 AUGUST 2023 Operating $120.21m Rig Count Average 74.8 Operating Rig Count Average 71.6 Operating FY23 EBITDA $72.69m Rig Count $41.2m 67.7 Average
Slide 8: Mitchell Services Today
8 MITCHELL SERVICES TODAY PEOPLE RIG FLEET FY23 POST TAX PROFIT* 754 98 Rigs $6.5m–$7.5m MORGANS BUSINESS BREAKFAST 23 AUGUST 2023 NET DEBT AS AT 30 JUNE 2023* FINAL DIVIDEND EXPECTED SHARE BUY BACK PAYMENTS $4.0m $17m with target Partially franked Capital reduction of $15m by dividend of circa of 4
Slide 9: Mitchell Services Today
9 MITCHELL SERVICES TODAY Commodity Location Client Type Drilling Type 5.5% 8.2% 12.0% 10.1% 11.1% 49.7% 23.4% 39.1% MORGANS BUSINESS BREAKFAST 23 AUGUST 2023 88.0% 56.4% 50.2% 41.1% Gold Coking Coal QLD VIC NSW SA Tier 1 Other Surface Underground Copper Lead/Zinc/Silver Other WA NT TAS
Slide 10: Mitchell Services Today
10 MITCHELL SERVICES TODAY MORGANS BUSINESS BREAKFAST 23 AUGUST 2023 Greenfield Mine Site Exploration Exploration & Resource Development Production & Feasibility Definition
Slide 11: Find a Better Way
MORGANS BUSINESS BREAKFAST 23 AUGUST 2023 11 FIND A BETTER WAY
Slide 12: People and Risk
MORGANS BUSINESS BREAKFAST 23 AUGUST 2023 12 PEOPLE AND RISK
Slide 13: Awards
13 AWARDS 2023 Australian Workplace Health and Safety Awards ▪ Finalist – Australian WHS Team of the Year (awards announced August 31st 2023) 2021 Australian Mining Prospects Awards ▪ Finalist for the implementation of a “Frontline-driven Fatal Risk Management System” in the categories: • Excellence
Slide 14: Community
14 COMMUNITY ▪ Registered Charity ▪ Independent Board • Chairman – Todd Wild MORGANS BUSINESS BREAKFAST 23 AUGUST 2023 • Director – Michelle Pyers • Director – Donna Carter • Director – Gabriel Chisholm • Director – Nigel White
Slide 15: Finding a better way to unlock resources
15 Finding a better way to unlock resources for our customers, for the benefit of our shareholders, our people and the community. MORGANS BUSINESS BREAKFAST 23 AUGUST 2023
Slide 16: Contact
CONTACT Andrew Elf 112 Bluestone Circuit Seventeen Mile Rocks Qld 4073 PO Box 3250 Darra Qld 4076 P: 07 3722 7222 E: a.elf@mitchellservices.com.au