Boart Longyear — Shareholder Meeting (May 2023)
47 slides from Boart Longyear's shareholder meeting presentation, May 25, 2023
Slide 1: 2023 Annual General and Special Meeting
2023 Annual General and Special Meeting 25 May 2023
Slide 2: Chairman’s Welcome
Chairman’s Welcome
Slide 3: Introduction of Directors
Introduction of Directors Rubin McDougal Jeff Olsen Tye Burt Lars Engström Shannon McCrae Chair President and CEO Paul McDonnell Thomas Schulz Conor Tochilin Bao Truong 3 | 2023 Annual General and Special Meeting
Slide 4: Agenda
Agenda LF160™
Slide 5: President and CEO’s Address
President and CEO’s Address Jeff Olsen
Slide 6: Important Notice and Disclaimer
Important Notice and Disclaimer This presentation has been prepared by Boart Longyear Group Ltd, ARBN 652 848 103 (Boart Longyear or the Company). It contains general information about the Company’s activities as at the date of the presentation. It is information given in summary form and does not p
Slide 7: Three Divisions Driving Long-Term Growth
Three Divisions Driving Long-Term Growth Drilling Services Global Products Veracio Industry-leading provider of drilling Offers the most advanced technology Leveraging artificial intelligence and services and largest, global, tooling and drill rigs, specifically advanced analytics to accelerate spec
Slide 8: Strong 2022 Results in Dynamic Environment
Strong 2022 Results in Dynamic Environment Financial Mining Sector Performance Drilling Services Global Products Veracio Long-term mining sector Revenue exceeded $1 Outstanding top- and Delivered revenue growth Introduced division fundamentals remain billion – first since 2013; bottom-line performan
Slide 9: Surging Metals Demand Driving Mining Sector Investment
Surging Metals Demand Driving Mining Sector Investment Pipeline Activity Index, Nov 2020 – Dec 2022 Project Drilling Activity by Commodity, Nov 2020 – Dec 2022 Source: S&P Global Market Intelligence as of 15 January 2023 Source: S&P Global Market Intelligence as of 6 January 2023. PGM = platinum gro
Slide 10: Dynamic Financial and Operating Performance
Dynamic Financial and Operating Performance +13% +7% REVENUE ADJUSTED EBITDA1 FY’22 $1,039M vs. FY’21 $921M FY’22 $124M vs. FY’21 $116M2 Robust Drilling Services and Global Impacted by Drilling Services price Products growth and volume gains +83% +3% +121% LTIR3 CAPITAL DEPLOYED NET PROFIT AFTER TAX
Slide 11: FY’22 Divisional Performance
FY’22 Divisional Performance The information presented is before inter-segment eliminations in order to reflect each business unit’s revenue and EBITDA assuming all inter-segment sales were made to third parties instead. This financial information is provided so that investors can better understand
Slide 12: Bigger vision. Smarter data. Smaller footprint.
Bigger vision. Smarter data. Smaller footprint. By fusing science and technology, Veracio helps miners ▪ Sensing, automation and AI technologies leverage their opportunities while mitigating the social ▪ Accelerating exploration and orebody confidence and environmental impact of their decisions. ▪ W
Slide 13: ESG Achievements for 2022
ESG Achievements for 2022 Employee Training Diversity Emissions Management Safety Achievement Completed 63,000 Achieved 11% women Finalised Scope 1 & 2 Received ‘Safe Day training modules during in global workforce emissions baseline Everyday Gold Award’ 2022 against 15x25 goal project across global
Slide 14: Driving Growth in 2023
Driving Growth in 2023 Drilling Services Global Products Veracio Reinvest strategically Grow strategically Innovate, build and scale 14 | 2023 Annual General and Special Meeting – See page 47 for footnote descriptions
Slide 15: Investment Highlights
Investment Highlights Vertically Integrated Industry Leader with Differentiated Offerings Providing 1 Competitive Advantages Unique Integrated Provider of Best-in-Class Drilling Services, Products and 2 Technology Offerings Diverse Revenue Mix Providing Exposure to Most-Attractive Geographies and 3
Slide 16: Questions
2 tei Ss - on Te
Slide 17: Voting Procedure
Voting Procedure LF160™
Slide 18: Consideration of Consolidated Financial Statements and Independent Auditor's Report
Consideration of Consolidated Financial Statements and Independent Auditor's Report for year ended 31 December 2022 18 | 2023 Annual General and Special Meeting
Slide 19: Resolutions
Resolutions
Slide 20: Resolution 1 Re-election of Rubin McDougal
2023 Annual General and Special Meeting - Resolution 1 Re-election of Rubin McDougal "That, for the purpose of clause 6 of the By-laws of the Company, ASX Listing Rule 14.4 and for all other purposes, Rubin McDougal retires and being eligible, offers himself for election and is re-elected as a Direc
Slide 21: Proxy Results
2023 Annual General and Special Meeting – Proxy Results Resolution 1 For Withhold Re-election of Rubin McDougal Proxies Received 71,179,538 2,935 21 | 2023 Annual General and Special Meeting
Slide 22: Resolution 2 Re-election of Jeffrey Olsen
2023 Annual General and Special Meeting - Resolution 2 Re-election of Jeffrey Olsen "That, for the purpose of clause 6 of the By-laws of the Company and all other purposes, Jeffrey Olsen retires and being eligible, offers himself for election and is re-elected as a Director of the Company." 22 | 202
Slide 23: Proxy Results
2023 Annual General and Special Meeting – Proxy Results Resolution 2 For Withhold Re-election of Jeffrey Olsen Proxies Received 71,179,647 2,826 23 | 2023 Annual General and Special Meeting
Slide 24: Resolution 3 Re-election of Tye Burt
2023 Annual General and Special Meeting - Resolution 3 Re-election of Tye Burt "That, for the purpose of clause 6 of the By-laws of the Company, ASX Listing Rule 14.4 and for all other purposes, Tye Burt retires and being eligible, offers himself for election and is re-elected as a Director of the C
Slide 25: Proxy Results
2023 Annual General and Special Meeting – Proxy Results Resolution 3 For Withhold Re-election of Tye Burt Proxies Received 71,179,490 2,983 25 | 2023 Annual General and Special Meeting
Slide 26: Resolution 4 Re-election of Conor Tochilin
2023 Annual General and Special Meeting - Resolution 4 Re-election of Conor Tochilin "That, for the purpose of clause 6 of the By-laws of the Company, ASX Listing Rule 14.4 and for all other purposes, Conor Tochilin retires and being eligible, offers himself for election and is re-elected as a Direc
Slide 27: Proxy Results
2023 Annual General and Special Meeting – Proxy Results Resolution 4 For Withhold Re-election of Conor Tochilin Proxies Received 71,179,375 3,098 27 | 2023 Annual General and Special Meeting
Slide 28: Resolution 5 Re-election of Lars Engström
2023 Annual General and Special Meeting - Resolution 5 Re-election of Lars Engström "That, for the purpose of clause 6 of the By-laws of the Company, ASX Listing Rule 14.4 and for all other purposes, Lars Engström retires and being eligible, offers himself for election and is re-elected as a Directo
Slide 29: Proxy Results
2023 Annual General and Special Meeting – Proxy Results Resolution 5 For Withhold Re-election of Lars Engström Proxies Received 71,179,475 2,997 29 | 2023 Annual General and Special Meeting
Slide 30: Resolution 6 Re-election of Paul McDonnell
2023 Annual General and Special Meeting - Resolution 6 Re-election of Paul McDonnell "That, for the purpose of clause 6 of the By-laws of the Company, ASX Listing Rule 14.4 and for all other purposes, Paul McDonnell retires and being eligible, offers himself for election and is re-elected as a Direc
Slide 31: Proxy Results
2023 Annual General and Special Meeting – Proxy Results Resolution 6 For Withhold Re-election of Paul McDonnell Proxies Received 71,178,481 3,992 31 | 2023 Annual General and Special Meeting
Slide 32: Resolution 7 Re-election of Thomas Schulz
2023 Annual General and Special Meeting - Resolution 7 Re-election of Thomas Schulz "That, for the purpose of clause 6 of the By-laws of the Company, ASX Listing Rule 14.4 and for all other purposes, Thomas Schulz retires and being eligible, offers himself for election and is re-elected as a Directo
Slide 33: Proxy Results
2023 Annual General and Special Meeting – Proxy Results Resolution 7 For Withhold Re-election of Thomas Schulz Proxies Received 71,178,529 3,944 33 | 2023 Annual General and Special Meeting
Slide 34: Resolution 8 Re-election of Bao Truong
2023 Annual General and Special Meeting - Resolution 8 Re-election of Bao Truong "That, for the purpose of clause 6 of the By-laws of the Company, ASX Listing Rule 14.4 and for all other purposes, Bao Truong retires and being eligible, offers himself for election and is re-elected as a Director of t
Slide 35: Proxy Results
2023 Annual General and Special Meeting – Proxy Results Resolution 8 For Withhold Re-election of Bao Truong Proxies Received 71,179,504 2,968 35 | 2023 Annual General and Special Meeting
Slide 36: Resolution 9 Re-election of Shannon McCrae
2023 Annual General and Special Meeting - Resolution 9 Re-election of Shannon McCrae "That, for the purpose of clause 6 of the By-laws of the Company, ASX Listing Rule 14.4 and for all other purposes, Shannon McCrae retires and being eligible, offers herself for election and is re-elected as a Direc
Slide 37: Proxy Results
2023 Annual General and Special Meeting – Proxy Results Resolution 9 For Withhold Re-election of Shannon McCrae Proxies Received 71,179,414 3,059 37 | 2023 Annual General and Special Meeting
Slide 38: Resolution 10 Election of Michelle Ash
2023 Annual General and Special Meeting - Resolution 10 Election of Michelle Ash "That, for the purpose of clause 6 of the By-laws of the Company and subject to the passing of Resolution 12, to elect Michelle Ash as a Director of the Company." 38 | 2023 Annual General and Special Meeting
Slide 39: Proxy Results
2023 Annual General and Special Meeting – Proxy Results Resolution 10 For Withhold Election of Michelle Ash Proxies Received 71,178,999 2,464 39 | 2023 Annual General and Special Meeting
Slide 40: Resolution 11 Re-appointment of Auditor
2023 Annual General and Special Meeting - Resolution 11 Re-appointment of Auditor “To re-appoint Deloitte Touche Tohmatsu as the independent auditor of the Company, to hold office until the next annual general and special meeting of Shareholders and to authorise the Directors to set the auditor's re
Slide 41: Proxy Results
2023 Annual General and Special Meeting – Proxy Results Resolution 11 For Withhold Re-appointment of Auditor Proxies Received 71,181,953 519 41 | 2023 Annual General and Special Meeting
Slide 42: Resolution 12 Amendment to the Articles of the Company
2023 Annual General and Special Meeting - Resolution 12 Amendment to the Articles of the Company “That, the Articles of the Company be amended with effect from the close of this Meeting as follows: (a) the maximum number of Directors of the Company is increased from 9 Directors to 12 Directors.” 42
Slide 43: Proxy Results
2023 Annual General and Special Meeting – Proxy Results Resolution 12 For Against Amendment to the Articles of the Company Proxies Received 71,177,891 4,553 43 | 2023 Annual General and Special Meeting
Slide 44: Questions
Questions
Slide 45: If you are a duly appointed proxyholder, please vote now
If you are a duly appointed proxyholder, please vote now 45 | 2023 Annual General and Special Meeting
Slide 46: The Annual General and Special Meeting is now closed
The Annual General and Special Meeting is now closed 46 | 2023 Annual General and Special Meeting
Slide 47: Footnote Disclosures
Footnote Disclosures Footnote 1: EBITDA is 'Earnings before interest, tax, depreciation and amortisation.’ Adjusted EBITDA is 'Earnings before interest, tax, depreciation, and amortization and before major restructuring initiatives, impairments of assets, and other significant and non- recurring tra