Ann: June 24 Results Investor Presentation, page-12

Some observations from the conference call and from other online resources:

• The Henderson facility can handle over $200M in subsea revenue without major capex, providing a significant capacity advantage and an opportunity to increase operating leverage and cash flow.
• Matrix’s SURF market share is growing, with an installed track record showing a "high degree of differentiation" compared to two competitors. Subsea 7, Saipem, and TechnipFMC have all reported record backlogs, and Rystad anticipates a subsea surge.
• Drillships are expected to reach 97% utilization next year. Matrix is seeing LGS approval by major drilling contractors and expects "significant adoption."
• Deepsea mining has the potential for significant growth.
• Offshore wind contracts may arrive sooner than expected - possibly by 2026.
• Matrix expects Defence to materially contribute to FY25 revenue and beyond.
• The Advanced Materials division is expected to "grow significantly" this year, with no real growth limit in sight. Matrix anticipates this will become a significant part of the business.
• The Corrosion Technologies division is also expected to experience "strong growth."