#1personai AEROMETREX INVESTOR PRESENTATION November 2020 L.E.A.G. F. Ul Bustury SEE YOUR WORLD CLEARLY. aerometrex#2For personal use only DISCLAIMER aerometrex This presentation is provided for information purposes only and is not a disclosure document as defined under the Corporations Act 2001 (Cth) This presentation does not constitute an offer, invitation, solicitation or recommendation with respect to the purchase, sale or issue of any securities or any financial product nor does it constitute financial product or investment advice. The presentation does not contain all the information that may be required for evaluating the Company's assets, prospects or potential opportunities and is not intended to be used as the basis for making an investment decision. The presentation has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person. No representation or warranty, express or implied, is made as to the accuracy, reliability, completeness or fairness of the information, opinions and conclusions contained in this presentation. Neither the Company, its related bodies corporate, shareholders or affiliates, nor any of their respective officers, directors, employees, related bodies corporate, affiliates, agents or advisers makes any representations or warranties that this presentation is complete or that it contains all material information about the Company or which a prospective investor may require in evaluating a possible investment in the Company or acquisition of securities. 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Neither the Company nor its related bodies corporate, shareholders or affiliates, nor any of their respective officers, directors, employees, related bodies corporate, affiliates, agents or advisers guarantees any return or generally the performance of the Company or the price at which its securities may trade. Any investment in the Company is subject to investment risks including the possibility of loss of capital invested and no return of income or payment of dividends. Before making an investment decision, you should assess whether an investment is appropriate in light of your particular investment needs, objectives and financial circumstances and consider seeking your own independent legal, financial and commercial advice. Past performance is no guarantee of future performance. The distribution of this document in jurisdictions outside Australia may be restricted by law. Any recipient of this document outside Australia must seek advice on and observe any such restrictions. This presentation may contain certain "forward-looking statements" with respect to the financial condition, results of operations and business of the Company and certain plans and objectives of the management of the Company. Forward looking statements can generally be identified by words such as 'may', 'could', 'believes', 'plan', 'will', 'likely', 'estimates', 'targets', 'expects', or 'intends' and other similar words that involve risks and uncertainties, which may include, but are not limited to, the outcome and effects of the subject matter of this presentation. Indications of, and guidance on, future exchange rates, capital expenditure, earnings and financial position and performance are also forward-looking statements. You are cautioned not to place undue reliance on forward looking statements as actual outcomes may differ materially from forward looking statements. Any forward-looking statements, opinions and estimates provided in this presentation necessarily involve uncertainties, assumptions, contingencies and other factors, and unknown risks may arise, many of which are outside the control of the Company. Such statements may cause the actual results or performance of the Company to be materially different from any future results or performance expressed or implied by such forward looking statements. Forward-looking statements including, without limitation, guidance on future plans, are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. Such forward looking statements speak only as of the date of this presentation. The information in this presentation is current as at the date on the cover of the presentation and remains subject to change without notice, in particular the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise. 2#3For personal use only Our Purpose ABOUT AEROMETREX To provide our customers throughout Australia and overseas with accurate, high-quality, best-value data products that satisfy all their aerial imagery and spatial data requirements. Our Vision aerometrex To become the market leading company in our service sector in terms of quality of products, value offered to our customers, and market share. Be an internationally recognised mapping company, utilizing the best available technology to deliver world class products. Our Mission To provide professional, accurate digital image mapping and geospatial engineering solutions to our clients by exploiting both existing and emerging air and ground imaging technologies. 3#4BUSINESS OVERVIEW Revenue is generated from Projects and Subscription Services (DaaS) across Key Highlights FY20 Dec $25m initial public offering listing under ASX code 'AMX' Aerial Photography and Mapping For personal use only STRATEGY Growing subscription- based revenue LiDAR STRENGTHS 3D Modelling MetroMap Imagery and LiDAR data quality Accuracy Expanding geographically Acquisition New products 3D modelling capability High standards of customer service Increase sales and marketing People Data archive Built on the foundation of image quality and accuracy CORE FUNDAMENTALS aerometrex FY21 Aug MetroMap LiDAR launched Oct Feb Establishment of US office Great data Suncorp and PSMA contract wins of $860k (min.) Mar Oct Great reputation Queensland contract wins of $1M Great customer service May Acquisition of Spookfish Australia from EagleView Pixel Cruncher developed and implemented increasing orthophoto processing speeds by 800% Innovation Great technology Jun Addition to All Ordinaries list 4.6m shares released from escrow Oct Fuel load aerial mapping technology developed to assist bushfire mitigation Great team Appointment of Chief Operating Officer (COO) 4#5For personal use only FY20 KEY FINANCIALS Revenue + 24.7% Cashflow from operations + $8.2m Available cash $22.2m FY20 FY19 Percentage $'000 $'000 Change Aerial Photomapping 6,112 6,497 ↓ (5.9)% ☐ LiDAR 8,923 6,468 ↑ 37.9% 3D 3,361 1,952 ↑72.1% MetroMap - Subscription 705 344 ↑ 104.9% - - On demand 990 848 16.7% Total Operating Revenue 20,091 16,109 24.7% EBITDA EBITDA (normalised) 3,901 5,035 ↓22% 4,598 5,035 8.7% Cashflow from operations 8,163 5,095 60% Financial Position Cash on Hand 22,239 5,110 aerometrex LiDAR reflects continued investment into capture assets increasing ■ 3D driven by large world leading domestic and international projects MetroMap subscription revenue driven by growth in subscribers Spookfish acquisition (May 2020) contributed minimal revenue in FY20 with value to be recognised in FY21 ■ Investment into people assets (e.g. Sales & Marketing) to drive future value & scalability of the business ■ Normalised EBITDA is after adding back one-off costs not in the ordinary course of operations driven by the public listing 5#6For personal use only METROMAP MetroMap is Aerometrex's subscription-based product offering that supplies Data as a Service (DaaS). Ranging from 2D imagery to 3D off-the-shelf city models and a range of LiDAR and imagery-derived datasets, MetroMap is the future of accurate geospatial data, accessible by everyone from large corporates, government departments, SMEs and individuals. Key Products: Examples of Major Use Cases: " 2D aerial imagery subscription plans " ◉ ■ " 3D off-the-shelf city models and subscriptions Near-infrared imagery (NIR) Classified LiDAR point cloud datasets Al-derived value-added datasets Industries Serviced (including but not limited to): ◉ ◉ Architecture, Engineering & Construction Energy & Utilities Environment & Disaster Management Events, Media & Entertainment ☐ Forestry & Agriculture ■ Government ◉ Insurance & Financial Services Natural Resources, Mining & Exploration Property & Real Estate Telecommunications Transport, Logistics & Traffic Management Accurate and frequent spatial information to assist local councils in urban planning, asset management and community engagement 2D and 3D spatial mapping to plan, build and maintain smarter infrastructure Integrate accurate base map imagery with other utility databases to aid operations, engineering design, planning and decision support Ensure faster, more accurate valuations based on detailed risk assessment of assets Showcase property developments by combining the power of visual imagery and data attributes ■ Visualise, plan and optimise telecommunication networks using updated 2D & 3D datasets Monitor environmental change and disaster management right from planning through to response & recovery Addressable Market Size ~$80 million+ per annum in Australia 259.75m2 aerometrex 444 6#7For personal METROMAP - 3D aerometrex 7 000000 metromap#8For personal use only METROMAP Building momentum in subscriptions with strong growth in ARR ARR ($) 3,000,000 2,500,000 2,000,000 1,500,000 1,000,000 Annual Recurring Revenue (ARR) Calculation: Monthly revenue x 12 Actual ARR ($1000) 500,000 357,309 548,343 854,561 1,662,960 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 2,755,560 aerometrex 8#9METROMAP Addressable Market (Subscriptions) - ARR MetroMap $2.8m (Sept 2020) Addressable Market Size (Subscriptions) ~$80 million+ per annum in Australia Target 50% ($40m) For personal use only AUD ($'000) 1,800 1,600 1,400 MetroMap Revenue 1,200 1,000 800 600 400 173 211 200 2016 2017 526 2018 Financial year ended 30 June 1,192 aerometrex FY20 Highlights Total Revenue $1.7m +42% (2019: $1.19m) Acquisition of Spookfish Australia (May 2020) Growth in ARR FY21+ Priorities Continuing to grow ARR Scaling capture program including production processing Return on marketing investment 1,695 Deployment of MetroCam Deployment of MetroCam #2 Investment into sales and marketing, IT systems to scale for future growth Continued development of MetroMap platform offering 2019 2020 Increased brand awareness 9#10personal use only AERIAL PHOTOGRAPHY AND MAPPING The foundation of Aerometrex has been in project based aerial photography, photogrammetry and mapping services since its establishment in 1980. Driven by exacting standards of project delivery and the need for geospatially accurate data, this discipline underpins the Aerometrex commitment to quality. Predominantly project based with some clients moving towards the MetroMap subscription product (DaaS) however demand in photomapping will continue. Key Products: " 2D ortho-imagery with the ability to customize resolution and accuracy Digital elevation data such as digital terrain models (DTM) and digital surface models (DSM) Stereo-derived datasets Industries Serviced (including but not limited to): Architecture, Engineering & Construction Energy & Utilities Environment & Disaster Management Events, Media & Entertainment Forestry & Agriculture Insurance & Financial Services Natural Resources, Mining & Exploration Property & Real Estate Telecommunications Transport, Logistics & Traffic Management Government Examples of Major Use Cases: ◉ ■ ◉ Large infrastructure projects where engineers and project managers require high accuracy and specific capture dates Monitoring progress of widespread events, or documenting damage; ideal for insurance sector, government emergency departments, coroners Asset management of critical development areas for use by councils, urban planners Dynamic change assessment along coastlines for factors such as erosion, monitoring seagrass Volumetric calculations and site management for mining and exploration firms Individual use cases such as mining for planning, infrastructure and asset management Addressable Market Size ~$15-20 million per annum in Australia aerometrex 10#11AERIAL PHOTOGRAPHY AND MAPPING Addressable Market Size ~$15-20 million per annum in Australia For personal use only AUD ($'000) 9,000 Addressable Market Aerial Photography and Mapping Revenue 8,000 7,000 6,584 6,491 6,000 5,000 4,000 3,000 2,000 1,000 7,963 Aerial Photography and Mapping $6.1m 6,497 6,112 2016 2017 2018 2019 2020 Financial year ended 30 June aerometrex FY20 Highlights Revenue $6.1m -5.9% (2019: $6.5m) Shift towards MetroMap subscription model & LiDAR Project expertise & discipline FY21+ Priorities Continue to meet client specific project needs Focus towards MetroMap DaaS model (where appropriate) Efficient utilisation of existing assets 11#12For personal use only 3D MODELLING Our world-leading 3D modelling service offers multiscale models captured via a combination of platforms - aircraft, helicopter and ground level. These offer extremely high resolutions ranging from 7.5cm to under 1cm. With the additional dimension, our 3D models promise greater context and the ability to derive more features & insights via classification. Key Products: 3D Mesh Models of built up and natural environment 3D Semantic Level of Detail (LOD) Models ■ Artificial intelligence and machine learning enabled value-added products such as Classified 3D mesh and feature capture 3D visualisation products for audio-visual, gaming, and virtual or augmented reality Industries Serviced (including but not limited to): Architecture, Engineering & Construction Energy & Utilities ☐ Environment & Disaster Management Events, Media & Entertainment Government Insurance & Financial Services Natural Resources, Mining & Exploration Property & Real Estate Telecommunications Transport, Logistics & Traffic Management Examples of Major Use Cases: " ☐ Provide base 3D models for planning of digital twins and smart city projects ■ Improve planning and monitoring of major transport & infrastructure projects from concept to final design using 3D data Provide three-dimensional context to critical engineering & construction projects Support urban designers, architects, real estate specialists by allowing three- dimensional assessment of new developments 3D digitisation to support heritage building conservation as well as larger tourism initiatives ■ Virtual films and futuristic gaming with real- world environments using 3D ☐ Simulation of events e.g. flood in digital twin Security management Addressable Market Size Open-ended, international scope Growing awareness of value aerometrex COOR'S FIELD 12#133D MODELLING For personal use only AUD ($'000) aerometrex Addressable Market Size Open-ended, international scope Growing awareness of value FY20 Highlights Revenue $3.3m +72% (2019: $1.95m) FY21+ Priorities US 3D revenue 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 654 3D Revenue 1,505 1,325 2016 2017 2018 Financial year ended 30 June 1,952 3,361 2019 2020 Opening of US office in Denver, Colorado International projects World leading Completion of major projects in: ☐ Pau, South of France ☐ Karlsruhe, Germany ■ Auckland, Christchurch, Wellington & Tauranga, New Zealand ■ Western Sydney, Digital Twin ☐ Fishermans Bend, Melbourne Infrastructure and Engineering 13#14rpersonal use only Bendigo S 3D MODELLING aerometrex 14#15For personal use only LiDAR Light Detection and Ranging (LiDAR) is an advanced aerial surveying technique which utilizes active laser pulses (up to 2 million laser pulses per second) generated by the sensor to measure the distance of the aircraft to the ground. As the position of the aircraft is determined by GPS, the shape of the terrain including above ground features can be modelled. This survey technology and the information derived from it has become a critical asset for numerous planning & monitoring purposes, even more so when combined with imagery. Key Products: LiDAR 3D Point Clouds Vegetation Surface Products ■ Ground Surface Products ■ Vector Line Products " LiDAR-derived 2D datasets Industries Serviced (including but not limited to): ☐ Architecture, Engineering & Construction ◉ Energy & Utilities ☐ ◉ ☐ ப Environment & Disaster Management Forestry & Agriculture Government Insurance & Financial Services Natural Resources, Mining & Exploration Property & Real Estate Telecommunications Transport, Logistics & Traffic Management ◉ ◉ Examples of Major Use Cases: ■ Agricultural irrigation analysis Engineering design across projects spanning road, rail, oil & gas pipelines, renewable energy (wind & solar) Environmental mapping including flood modelling, catchment analysis, bushfire fuel load mapping Canopy growth and volume analysis across forestry and urban vegetation Stockpile analysis, windrow analysis across mining and exploration sites Vegetation encroachment mapping along powerlines ☐ Addressable Market Size ~$50 million per annum in Australia aerometrex 15#16LiDAR Addressable Market Size ~$50 million per annum in Australia For personal use only AUD ($'000) Addressable Market LiDAR Revenue 10,000 9,000 8,000 7,000 6,000 5,000 4,000 3,135 3,000 2,000 1,495 1,679 1,000 2016 2017 2018 Financial year ended 30 June FY20 Highlights LiDAR $8.9m Revenue $8.9m +38% (2019: $6.5m) 6,468 8,923 2019 2020 aerometrex FY21+ Priorities Potential opportunity to convert to subscription model (MetroMap) Investment into aircraft and sensors Al and R&D opportunities Expanding use cases and market awareness around LiDAR applications 16#173 m LiDAR Tree Canopy Model Tree Canopy Height 45 m aerometrex 17#18For personal use only LiDAR Windrows Batter Crest 1m 2.1m Windrow CATERPILLAR 1.5m 6.5m 2.5m 10m Shoulder -2% Profile 73 Road width: 36.5988m Compliance: True Profile 7.7 Road width 34.6m Compliance: False Profile 77 - Windrow Height: 2.4978m Width: 9.3022m Compliance: True Drain Toe 10m 10m 2.5m Shoulder 2.5m 35m (Pavement) 46m (RAMP Width) 0.5m Batter aerometrex Profile 64 Windrow Height: 2.5002 Width: 0.7473 Compliance: False 18#19BUSHFIRE FUEL LOAD MAPPING 10 asntizUOS LiDAR with view of trees and built up area LiDAR with upper tree canopy stripped aerometrex LiDAR showing fuel load density (red - high fuel load) 19#20IMPACT OF COVID-19 Business is well placed to weather the storm Positive Impacts Improved access to airspace STRONG OBALANCE SHEET For personal use only Cash at 30 June 2020 $22.2m (2019: $5.1m) MetroMap supports business working remotely with geospatially accurate current data ◉ Increased pool of experienced staff looking for opportunities Catalyst for systems & process improvements to drive future scalability & efficiency of the business aerometrex Opportunities Stimulus spending - Infrastructure spending leads to increased demands for remote services Business (customers) looking for alternative partners/suppliers to provide more value, more ROI and customer experience Ongoing M&A opportunities being presented to Aerometrex for consideration ■ Restrictions on travel ease sooner than expected Available debt facilities: $4.5m (2019: $nil) Positive cashflow from operations $8.2m (2019: $5.1m) Negative Impacts Border closures and quarantines in round 2 creating some logistical complexity Crews remain in field longer & lockdown restrictions having impact on costs Delays in freight (both local & international) creates need for more planning lead time Restrictions on travel Delay of projects while business adapts to the new 'normal' Risks ■ Slowing of the economy & impact on business confidence ■ Prolonged negative economic impact ◉ Closure of state borders impacting movement of staff Restrictions on travel limit opportunities Cost (for customers) becomes focus resulting in competitors going into a price war to survive in the short term 20 20#21For personal use only STRATEGIC PRIORITIES Focus on controllable events in current operating environment Development of overseas revenue streams in 3D - US and Europe Ongoing analysis of M&A opportunities Navigating current economic & social environment of Covid-19 Consolidation of Spookfish acquisition into MetroMap GROWTH Continued development and expansion of MetroMap to increase value proposition for customers through 3D, near-infrared, LiDAR Increasing brand awareness to leverage opportunities Continue to invest prudently to drive scalability for future growth Investment into R&D focusing on analytics, Al, machine learning, derived data products, camera technology aerometrex 21 24#22For person APPENDICES aerometrex 22 22#23For personal use only AUD ($'000) REVENUE Growth in revenue continues 8,906 25,000 20,000 15,000 10,000 Total Operating Revenue 3D 20,091 16,109 13,129 9,706 5,000 0 2016 2017 2018 Financial year ended 30 June Revenue Contribution by Segment MetroMap 17% 12% 2019 2020 40% Inner circle: FY19 Outer circle: FY20 9% aerometrex 8% 30% 44% LiDAR 40% Aerial Photomapping 23 23#24For personal use only CUSTOMER PROFILE Oil & Gas 3% Environment 9% aerometrex Utilities & Infrastructure, Agriculture, Government 2% Invoiced project work by market sector Other, Forestry, Disasters, LIDAR, Water, Renewables, Construction, Property Dev, Internet Media <1% Survey/Mapping 25% Local Government State Government 31% 8% Invoiced project work by client type Federal Government 3% 50 Urban Planning 15% Mining 24% Private Company 58% Inf/Eng/Trans 11% 24 24#25For personal use only AEROMETREX VIDEOS CLEARLY AEROMETREXI THIS FIRE SEASON... DRIVE FORESIGHT BEFORE IT BECOMES HINDSIGHT See your world clearly with Aerometrex! https://youtu.be/g-OtFQJhHh4 SEE THE UNSEEN – Drive FORESIGHT before it comes HINDSIGHT https://youtu.be/bKGwr34J6ck INTRODUCING THE NEXT DENVER, USA GENERATION IN 3D MODELING Do more with metromap Denver 3D: Introducing the next generation in 3D Modeling in USA https://youtu.be/6NYmNWgUAe0 Do More with MetroMap https://youtu.be/zvkujjofGOg aerometrex 25 25#26For personal use only CONTACT INFORMATION Aerometrex Ltd 51-53 Glynburn Road Glynde SA 5070 Mark Deuter Managing Director +61 8 8362 9911 [email protected] www.aerometrex.com.au www.metromap.com.au This presentation has been approved by the Managing Director. aerometrex