asian and north american roadshow presentation · asian and north american roadshow ... of award...

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Spookfish Limited | 5 Turner Avenue, Technology Park, Bentley WA 6102 | Bentley DC, PO Box 1103, Bentley WA 6983

www.spookfish.com | ABN 24 123 511 017

17 March 2015

Asian and North American Roadshow Presentation

Spookfish Limited (ASX: SFI) (“Spookfish” or “the Company”) is pleased to release an updated investor presentation to introduce Spookfish to Asian and North American institutional investors during an international roadshow commencing 17 March 2015. For more information, please contact: Jason Marinko Executive Chairman +61 402 032 876 [email protected] About Spookfish

Spookfish is an Australian company focused on the development and commercialisation of premium next generation geospatial imagery products and services. By starting from a clean sheet and disregarding what was thought impossible, our revolutionary technology enables rapid imaging of entire countries in high resolution from a multitude of angles at a fraction of the cost of contemporary systems. Spookfish aims to use these capabilities to make it easy for organisations of all sizes to gain access to premium imagery content and pervasive 3D models allowing concise, accurate and cost effective decision-making.

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Investor Presentation March 2015

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SPOOKFISH(LIMITED(|(INVESTOR(PRESENTATION(|(MARCH(2015(

Disclaimer This presentation has been prepared by Spookfish Limited. (“Spookfish” or the “Company”) based on information available to it as at the date of this presentation. The information in this presentation is provided in summary form and does not contain all information necessary to make an investment decision.

This presentation does not constitute an offer, invitation, solicitation or recommendation with respect to the purchase or sale of any security in Spookfish, nor does it constitute financial product advice or take into account any individual’s investment objectives, taxation situation, financial situation or needs. An investor must not act on the basis of any matter contained in this presentation but must make its own assessment of Spookfish and conduct its own investigations. Before making an investment decision, investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs, and seek legal, taxation and financial advice appropriate to their jurisdiction and circumstances. Spookfish is not licensed to provide financial product advice in respect of its securities or any other financial products. Cooling off rights do not apply to the acquisition of Spookfish securities.

Images are used to illustrate concepts only and are not intended to represent commercial Spookfish captured images or processed images. All images used are either produced in house or produced from Spookfish technology test flights.

Although reasonable care has been taken to ensure that the facts stated in this presentation are accurate and that the opinions expressed are fair and reasonable, no representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none of Spookfish, its officers, directors, employees and agents, nor any other person, accepts any responsibility and liability for the content of this presentation including, without limitation, any liability arising from fault or negligence, for any loss arising from the use of or reliance on any of the information contained in this presentation or otherwise arising in connection with it.

The information presented in this presentation is subject to change without notice and Spookfish does not have any responsibility or obligation to inform you of any matter arising or coming to their notice, after the date of this presentation, which may affect any matter referred to in this presentation.

The distribution of this presentation may be restricted by law and you should observe any such restrictions.

Forward looking statements

This presentation contains certain forward looking statements that are based on the Company’s management’s beliefs, assumptions and expectations and on information currently available to management. Such forward looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results or performance of Spookfish to be materially different from the results or performance expressed or implied by such forward looking statements. Such forward looking statements are based on numerous assumptions regarding the Company’s present and future business strategies and the political and economic environment in which Spookfish will operate in the future, which are subject to change without notice. Past performance is not necessarily a guide to future performance and no representation or warranty is made as to the likelihood of achievement or reasonableness of any forward looking statements or other forecast. To the full extent permitted by law, Spookfish and its directors, officers, employees, advisers, agents and intermediaries disclaim any obligation or undertaking to release any updates or revisions to information to reflect any change in any of the information contained in this presentation (including, but not limited to, any assumptions or expectations set out in the presentation). For

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Key Data

Major Shareholders

Exec. Dtrs & Mgmt - 15.88% Hoperidge Group - 8.91%

Tony Grist - 3.17% Simon Hackett - 3.04%

Zero Nominees Pty Ltd - 2.22% Brent Stewart - 1.20%

Stuart Nixon - 1.20% Other Top 20 - 19.80%

Others - 44.58%

ASX Code SFI

Shares on issue 706.5m

- quoted 547.4m

- escrowed 24mths 159.1m

Options on Issue: 80.0m

- 5.0c; 30.11.18 72.5m

- 2.5c; 4 years 7.5m

Cash ~$6.0m

Milestone Shares

- $20 million revenue 171.2m

- $36 million revenue 214.0m

Spookfish has a tightly held share register consisting of high profile technology entrepreneurs and prominent industry pioneers.

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Board & Management

Jason Marinko Executive Chairman

Former corporate adviser and public company CEO with over 15 years of corporate finance experience.

Shannon Robinson Non-Exec. Director /Joint Co.Sec.

Former lawyer and corporate adviser with more than 10 years transaction and M&A experience.

Stephen Rice Chief Executive & Exec. Director

Extensive background in commercialising highly innovative technologies and a member of the Aust. Fed. Govt’s Accelerating Commercialisation Programme.

Mike von Bertouch Exec. Dtr & Head of Flight Ops.

Highly respected Aerospace Engineer and CASA Authorised Person with over 20yrs experience offering technical aeronautical services to govt & corporates.

Simon Cope Sub.Dtr & Chief Technology Officer

Recognised senior technology leader with a proven track record over 20 years of delivering market disruptive technologies in the global geospatial industry.

Guy Perkins Sub. Dtr & Head of Strategic Sales

Leading figure in the international geospatial sector for over 25 years and former Managing Director of Esri Australia and CEO of ER Mapper.

Tony Grist Non Exec. Chairman, IP Subsidiary

Vast experience in the capital markets with a particular focus on the technology sector. He is also co-founder and Chairman of Amcom.

Stuart Nixon Strategic Advisor

World renowned geospatial industry pioneer; company founder and inventor of award winning geospatial technologies behind ER Mapper and nearmap.

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Vastly experienced team with strong regional and international experience in the geospatial and corporate finance sectors

# The Chairman and management team also sit on the subsidiary operating company board 2(

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Spookfish Overview

PROFILE Spookfish is an Australian company focused on the development and commercialisation of premium next generation geospatial imagery products and services.

TECHNOLOGY The revolutionary Spookfish technology enables rapid imaging of entire countries in high resolution and pervasive 3D models at a fraction of the cost of contemporary systems.

VALUE PROPOSITION Spookfish's unique capabilities will enable it to become a major global supplier of cost effective, premium imagery to the enormous, fast growing geospatial services industry.

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Key Milestones to Date

Spookfish Technology

Demonstrator design

commences

First patent application lodged, design completed and manufacturing

begins

Second patent

application lodged

Manufacturing and assembly

completed and ground testing

begins

Technology Demonstrator

flies and exhibits world class capture capabilities

Drawing on the technical team’s extensive experience and taking a commercial approach has achieved extraordinarily quick results

May’14

Sept’14

Oct’14 Dec’14

Nov’14

Spookfish due diligence

completed and $5m Prospectus

closes

Spookfish completes

recompliance listing and

capital raising

Feb’15

Jan’15

4(

Substantial modifications to Tech. Demonstrator

incorporating many next stage capabilities for

inflight testing For

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Technology Demonstrator Achievements

Testing demonstrated the desired world class capture capabilities of the sensor and state-of-the-art control system:

!  Image capture rates equaling the very best commercial camera systems

!  Altitude/resolution performance equalling or exceeding the best commercial camera systems

!  Impressive radiometric & geometric performance of the sensor system confirmed

Due to the outstanding testing results, Spookfish intends to commercialise the prototype and target ‘lighthouse’ customers in 2015

whilst developing and testing our larger scale offering in parallel.

The Technology Demonstrator tested many of the unique, novel and patentable concepts that will now be scaled up into a larger system

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Sample Imagery From Testing

Sample imagery taken during initial full-scale test flights of the Spookfish Technology Demonstrator (imagery resampled to reduce document size) 6(

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Unique Spookfish Technology Capabilities

We Fly Countries, not just cities

Spookfish technology enables rapid imaging of entire countries, rather

than a patchwork of surveys, in high resolution from a multitude of angles

on a regular basis at a fraction of the cost of contemporary systems

Pervasive 3D Models

Spookfish camera system is designed to allow pervasive 3D models, not

just smooth ‘bare earth’ terrain models, to be produced at costs and

capture rates not previously thought possible thus opening up significant

new markets for our products

Typical Airspace Issues Overcome

Spookfish’ technology facilitates the capture of high resolution imagery

at much higher altitudes than contemporary systems, significantly

increasing capture rates and overcoming typical airspace access and

congestion problems, thus greatly boosting productivity

Taking advantage of recent advances in sensor technologies and applying a fresh approach has achieved major industry breakthroughs

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Spookfish Competitive Advantages

Segment Features Spookfish Advantage

Satellite Large area capture Agility, resolution, 3D, cost

Traditional survey (most of the sector) Custom job based image cure

Significantly higher capture rate at lower cost, continuous coverage, speed, complete end to end solution, web portal

Web based Web portal & vertical applications (e.g. Solar, property)

Speed, cost, resolution, 3D capability, continuous coverage, airspace access

Image aggregators On sell geospatial image data Image capture direct from source, next generation software, low cost

Drones # Rapid small area capture Significantly higher capture rate for large areas at much lower cost, airspace access

# Spookfish technology designed so its camera system could be installed onto a UAV platform if it ever became economic and feasible

The Spookfish technology is highly disruptive to both the satellite and airborne aerial imagery segments

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GIS Industry: Big, Essential and Growing

$150-$270 billion Global revenues of geospatial industry per year $1.4 trillion Geospatial industry saves for business each year $90 billion Geospatial industry pays out in wages $1.1 billion hours Travel time saved per year globally

$0.5-2.8 billion Savings from reduced pricing of infrequently bought services and goods 3.5 billion litres Petrol saved per year globally $8-$22 billion Global cost savings on agricultural irrigation $73 billion Industry value in the US

GIS is already an enormous, yet still fast growing, industry providing many valuable social and economic benefits

Source: Oxera (Jan. 2013), “What is the economic impact of Geo?” 9(

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Imagery is the backbone of GIS Industry

Examples of GIS Applications where imagery is a core

enabler

Internet Mapping Services e.g. Google/Apple/Bing

Maps Security Applications e.g. intelligence, emergency

planning, finding drug crops

Property Services e.g. Gov. land titles offices,

developments, subdivisions

Local Govt. Applications e.g. building compliance &

approvals

Insurance e.g. risk management, natural

disaster impacts

Asset Management Services e.g. rail, water, gas,

electricity, road assets

Business Applications e.g. logistics, operations, marketing, planning

Geospatial applications are only in their infancy with new applications only limited by technology and the availability of premium, cost effective data

e.g. defence and gaming opportunities

Global imagery market value is estimated to be in the region of $6bn1

1.  Source: CRC-SI Global Outlook 2014: Spatial Information Industry, Aug.2014 10(

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High Productivity Opens Up Military Applications

Spookfish technologies offer a capability not economically available to military – wide area capture and rapid processing of high resolution 3D imagery

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Cost effective wide-area capture and processing of high resolution 3D imagery using aircraft and camera systems solely optimised for that task

Civil Defence & Disaster Relief Operations, e.g.

•  Large area, high resolution capture capability in 2016 with global deployment possible within 48 hours

•  Post-disaster 3D imagery of large areas for relief planning

•  Asset recovery/remediation planning and management

In-Theatre Expeditionary Operations, e.g.

•  Weekly 3D imagery updates of large areas for planning troop insertions

•  Up-to-date 3D imagery integrated into existing live battle monitoring systems

•  Frequent high res. imagery of linear assets to provide analysis of IED threats

•  Imagery captured above effective ceiling for MANPADS

Domestic Defence Planning, e.g.

•  Live fire range buffer analysis and environmental analysis

•  Exercises planning allowing full 3D briefing for personal

•  Integration with simulation systems for training in real environments

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Innovative GIS Technologies Get Noticed

“Sometimes it is quicker and cheaper to buy a company that has the technology we need rather than spend a lot of time and develop the new technology required”

- President & CEO of Hexagon

Selection of M&A Activity in the

Geospatial Industry in 2013/14

Arlington Capital Partners acquired four companies to create North America’s largest

geospatial and location based services company

After Apple’s own mapping problems, it acquired four small players in 2013

to strengthen its portfolio

Google acquired a traffic navigation app, Waze (USD966m) & satellite

imagery business, SkyBox (USD 500m)

Hexagon, a global geospatial technology business, acquired eight businesses to increase its

geographic reach & technology prowess

DigitalGlobe acquired GeoEye (USD 900m) to create the world’s largest

commercial imagery satellite co

The sale of Nokia’s devices business to Microsoft transformed Nokia into a global mapping business with HERE

Major industry players have shown an enormous acquisitive appetite for innovative new technologies that offer a competitive advantage

12(Source: geospatialworld.net: Recap 2013 – M&A in the geospatial World (Dec.’13)

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Accelerated Go-to-Market Strategy Leverage unique technological capabilities and existing strong industry relationships to seek early commercialisation opportunities in 2015

1 Focus on Govt. (Fed, State, Local) & large commercial sector users

3

Web Portal subscription based annuity revenue

Capture once, sell many times

•  All information captured builds image database even in test mode

•  End to end solution - image capture, image processing & web service delivery

•  Pricing according to market segment and product specifications

2 Alliances & licensing opportunities to accelerate global expansion

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Investment Overview

MARKET Large, established and fast growing global market with significant corporate activity and market growth opportunities for innovative,

premium, cost effective products

TECHNOLOGY Unique technical capabilities and competitive advantages over contemporary offerings have massive disruptive potential

PEOPLE Strong management and leading GIS industry technical team with a proven record of commercialising market changing innovations

REVENUE Simple, proven, recurring revenue model with a focus on realising early revenue opportunities during all stages of development

CAPITAL STRUCTURE Solid cash position and committed industry cornerstone partners with strong performance incentives for vendors; attractive valuation compared to peers

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Jason Marinko Executive Chairman

+61 402 032 876 [email protected]

www.spookfish.com

5 Turner Avenue, Technology Park, Bentley, Western Australia, 6102

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asian and north american roadshow presentation · asian and north american roadshow ... of award...

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