Ann: March 2023 Quarterly Report, page-2

Highlights
Q3 FY23 Financial Highlights
Revenue of A$21.1m (+60% vs pcp) and cash receipts of A$20.4m
Positive cashflow from operations of A$0.5m and unaudited underlying EBITDA of A$1.7m
Improved gross profit margin of 28%
Cash and cash equivalents at 31 March 2023 were A$7.7m with A$6.6m in inventory
YTD FY23 Financial Highlights
Year to date FY23 revenue was A$70.7m with unaudited underlying EBITDA of A$4.2m
Positive operating cash flow YTD of A$2.8m
Q3 FY23 Operational Highlights
Blue-Chip operator in the Eagleford Shale has approved and is utilising SciDev's proprietary
emulsion technology providing material performance benefits
Successful remediation of several per- and poly-fluoroalkyl (PFAS) contaminated sites, treating
impacted water to below detectable levels. SciDev were operational on five PFAS treatment
projects during the period generating A$2.0m in revenue
Executed and commenced a three-year contract with Iluka Resources Limited, with an expected
contract value of A$14.0m, to deliver MaxiFlox® chemistry to the Cataby Mineral Sands Mine
Renewal of existing contract with Iluka Resources Limited, with an expected contract value of
A$14.0m over three years, to deliver MaxiFlox® chemistry to the Jacinth-Ambrosia operation
Awarded a three-year contract agreement to support tailings management at a major coking
coal operation in Bowen Basin
Contract awarded for the Design & Construct of two drinking water plants for the Queensland
Government.

SciDev CEO, Seán Halpin, addressing performance for Q3 FY23, said, "SciDev continues to grow the
footprint of our water technologies and chemical services businesses with major clients across a
range of industries both here in Australia and in international markets. Whilst our underlying revenue
remains consistent with the first half of FY23, revenue was down slightly on the prior quarter due to
the reduction in one-off chemical sales we saw in the year's first half. However, we anticipate revenue
from three major new contracts - Iluka Cataby, New Chum, and Sydney Metro West - to deliver
meaningful revenue uplift from the June quarter onwards. Importantly, we delivered another quarter
of positive cash flow and EBITDA, highlighting our team's dedication and focus to deliver improved
returns. With an expanding customer base, growing regulatory tailwinds, a deep sales pipeline and a
robust balance sheet, SciDev is well positioned for continued growth and delivering sustainable
returns for our shareholders".
Financial Performance
SciDev delivered Revenue of A$21.1m (+60% vs pcp) and cash receipts of A$20.4m. Whilst underlying
revenue was up considerably on pcp, and remains consistent with the first half of the year, it was
down slightly on the prior quarter due to a reduction in one-off chemical sales. Recently signed
contracts, including Iluka Cataby & the PFAS treatment plants in Queensland and New South Wales,
will begin contributing to revenue from the June quarter.
Quarterly positive cash flow from operations was A$0.5m, marking the fifth consecutive quarter of
positive cash flow. Of the A$6.6m of net cash draw down year to date, A$5.3m is for payments related
to the Haldon acquisition. In addition, the business has invested A$3.1m on plant & equipment mainly
for build, own, operate contracts in the Water business unit.
Unaudited underlying EBITDA of for the quarter was A$1.7m with strong improvement in gross profit
from chemical sales.
SciDev maintained a robust balance sheet with cash and cash equivalents of A$7.7m at 31 March
2023, with A$6.6m in inventory.
Payments to Directors and their associates for the quarter (A$76K) include fees paid to NonExecutive Directors.