REX Presentation JPMForum HK

8/13/2019 REX Presentation JPMForum HK

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COMPANY PRESENTATIONREX INTERNATIONAL HOLDING

J.P. Morgan Asia Rising Dragons Forum

Hong Kong, 21-22 November 2013


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DISCLAIMER

The information contained in this presentation has not been independently verified. The Company assumes no responsibility or liability whatsoever (inaccuracy or completeness of, or any errors or omissions in, any information or opinions contained herein nor for any loss howsoever arising, whether direl iance or distr ibut ion of this presentat ion or i ts contents or otherwise arising in connection with this presentat ion. I t is not the intent ion to providepresentation as providing a fair, accurate, complete or comprehensive analysis of all material information concerning the Company, or the Companyprospects. The informationand opinions contained in this presentation are provided as at the date of this presentation and are subject to change without

This presentation may not be forwarded or distributed to any other person and may not be reproduced in any manner whatsoever. Any forwarding, dpresentation in whole or in part is unauthorised. Failure to comply with this directive may result in a violation of the Securities Act or the applicable laws of

This presentation is for information purposes only and does not constitute or form part of an offer, solicitation or invitation of any offer, to buy or subscribor any part of it form the basis of, or be relied upon in any connection with, any contract, commitment or investment decision whatsoever. This documenby any other party, or for any other purpose, and maynot be reproduced, disseminated or quoted without the prior written consent of the Company.

This presentation contains projections and forward-looking statements that reflect the Company's current views with respect to future events and financibased on estimates and current assumptions which are subject to business, economic and competitive uncertainties and contingencies as well as varioover time and in many cases are outside the control of the Company and its directors. You are cautioned not to place undue reliance on these forwabased on the current view of the management of the Company on future events. No assurance can be given that future events will occur, that projectCompany's assumptions are correct. The Company does not assume any responsibility to amend, modify or revise any forward-looking statements,developments, information or events, or otherwise. These statements can be recognised by the use of words such as "expects," "plans," "will," "estimatemeaning. Such forward-looking statements are not guarantees of future performance and actual results may differ from those forecast and projected or ias a result of various factors and assumptions. A potential investor should read the Offer Document first for details of forecasts and projections and con

make their own assessments of the future performance of the Company before deciding to purchase the Companys shares.


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Game-changing and green technologies

Higher exploration accuracy than peers success rate of over 50% vs. usual 10% to 15%

Substantial cost saving and improved profitability

Proprietary technology, several years head start

Faster analysis than peers - weeks compared to years

Joint venture Rexonic has environment-friendly, worlds first high power ultrasound system for commercial oil stimulatio

Existing portfolio Proof of Concept

Portfolio of 15 licences (including the 3 licences in Trinidad and Tobago upon the completion of the investment in Caribb

(Caribbean Rex) and 2 new licences in Norway)

High growth in portfolio going forward

Active drilling programme in portfolio

Concessions and licences in areas with known reservoirs of oil and gas

Close to production

Existing production in Trinidad upon the completion of the investment in Caribbean Rex

Effective business model

Lower risk position: Acquiring equity position whilst committing limited funds

Selling oil in the ground once proven to recycle funds into new assets, while keeping some producing assets for medium

Screening new licences at low cost, high capacity

Minimum target of 50 million barrels of oil recoverable per new concession

Shorter lead time between investment and proving up reserves

INVESTMENT RATIONALE


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REX GRAVITY

DYNAMIC TOPOGRAPHY MEASUREMENT USING SATELLITES

Based on satellite

Water depth com

High correlation waccumulations

Highly cost efficie

The Rex Technologie

owned by Rex Techn

LASER STATIONDORIS STATION

GPS SATELLITE

RANGE

ORBIT

SATELLITEALTITUDE

ELLIPSOID

DYNAMICTOPOGRAPHY

OIL GAS

GEOIDSEA SURFACEHEIGHT


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REX GRAVITY

COMPARISON: TRADITIONAL vs REX

Traditional satellite chart Presence of hydrocarbons more well define


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REX SEEPAGE

COMPARISON: TRADITIONAL vs REX

Traditional photo image of oil slicks Chart using Rex Seepage


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REX VIRTUAL DRILLING

OFFSHORE COLLECTION OF SEISMIC DATA USED IN REX VIRTUAL DRILLING

Detects the prese

accumulations as

Provides informa(oil/brine)

Provides volumet

Works on both ofseismic data

The Rex Technologieowned by Rex Techn

SURVEY SHIP

SOURCE OF SHOCKWAVES (AIRGUN)

IMPERMABLE ROCK

SEA BED

SEDIMENTARY ROCKLAYERS

WATER

HYDROPHONES

PATH OF REFLECTEDWAVES

GAS

OIL

POROUS RESERVOIR ROCK


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REX VIRTUAL DRILLING

OIL FINDINGS USING REX VIRTUAL DRILLING

TRADITIONAL GEOLOGIST FINDINGS

Layer 1

Layer 4

Layer 3

Layer 2

Layer 1

Layer 2

Layer 3 Layer 4

Locations of hydrocarbons found using Rex Virtual Drilling are d
http://localhost/var/www/apps/conversion/tmp/scratch_6//localhost/Users/kristoferskantze/Google%20Drive/1.%20Rex/2.%20Marketing/2.%20Rex%20corporate%20presentation/130127%20North%20Energy-%20Short.f4vhttp://localhost/var/www/apps/conversion/tmp/scratch_6//localhost/Users/kristoferskantze/Google%20Drive/1.%20Rex/2.%20Marketing/2.%20Rex%20corporate%20presentation/130127%20North%20Energy-%20Short.f4v


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WELL EXPLORATION PROFIT

Min size reservoir 50 MMBbl

Oil in the ground price US$ 5 / barrel

Participation interest 20%

Net revenue US$ 50 million

CAPEX US$ 10 million

PROFIT US$ 40 million

CASE STUDY LOW END

one successful well discovered, sell off oil-in-the-ground

EXAMPLE OF SUCCESS RATES


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EXAMPLE OF SUCCESS RATES IMPACT ON REVENUE OVER TIME

EXPLORATION SUCCESS RATE OF FINDING OIL: 50%

TRADITIONAL E&P COMPANYS SUCCESS RATE: ABOUT10%

Accumulated

net revenueUSD 175 Million

Accumulatednet revenueUSD -5 Million

Rex International Holding Traditional Players

Exploration success rate of finding oil 50% 10% - 15%

Cost Under $100,000 May go in millions

Time required 4 6 weeks 1 3 years

InvolvementParticipation by equity holding;

NOT service provider

SAMPLE OF


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SAMPLE OFVIRTUAL DRILLING RESULTS

ANALYSED 59 PROSPECTS FOR NORTH ENERGY OVER PAST 2 YEARS:

OUT OF 41 WELLS DRILLED, 35 PREDICTIONS WERE SPOT-ON

85% Success Rate

16 predicted positive 11 drilled with commercial oil (69%) 5 failures had weak anomalies (decision to drill based on North Energys own interpretation of d

25 predicted negative 24 out of 25 were dry (96%) Savings in 2012/13 Full effect in 2014

18 positives not drilled yet 5 in North Energy acreage


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OPERATION PROCESS

Partners /Potential partners

Rex InternationalHolding Ltd

Rex Techno

1 Partners/Potential partnershand over seismic data

2 Transfer of datafor analysis

3 Interpretation process of 46 weeks before returning d4 Advise Partners/Potential partners

REXS POSITION IN THE E&P VALUE


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REX S POSITION IN THE E&P VALUECHAIN

Production phase

3. Complementary recurring revenue fromRexonic (license or service model)

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

LICENSEAWARD

EXPLOR. DISCOV. DEVT. PDO* CONSTRUCTION FIRST OIL PRODUCTION

*Plan for Development and Operation

RESERVESCONTINGENTRESOURCES

PROSPECTIVE RESOURCES

YEAR

$/BOE, RISKED

UAE/OMAN/NORWAY (1)

USA/TRINIDAD

Exploration & Appraisal phases

1. Prove up value

2. Sell oil in the ground

Notes:(1) Assuming transfer of 10% stakes in PL 707 & PL 708 is completed

REXONIC GAME-CHANGER FOR OIL


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PRODUCTION

VALUE-ADDED TECHNOLOGY FOR OIL PRODUCTION

the worlds first high power ultrasound system for commercial oil stimulation

4-8cm

- Ultrasonication generates alternating low-pressure and high-pressure waves leading to ultrasonic shearwaves in the well and surrounding rock.

- This reduces the friction in the media and improves the oil flow into the well bore.- Ultrasonic waves create cavitation which causes mechanical removal of particles.- Ultrasonication reduces the viscosity of the liquid without the use of chemical agents or steam generators..

ELECTRIC POWERGENERATOR

ULTRASONICGENERATOR

LOGGING CABLEON TRUCK

RESONATOR& WELL

REXONIC HOW IT WORKS


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REXONIC HOW IT WORKS

Cleans the capillaries of wax, asphaltenes and particles to increase the oil flow into the b

Increases oil production by 30% up to 380% and can be deployed onshore and offshore

1. Paraffins, asphaltenes, particles adamages are plugging pore spacenot producing at their potential ca

2. Rexonics ultrasound dislodges thcleaning mechanism of micro-aco

begins.

4. Pore space and permeability arerestored, resulting in an increasedflow and cost-effective production

3. The ultrasounds high power disruforces that hold the particles in plathese particles get removed.

OnshoreOffshore

REXONIC - PROVEN


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FIELD TESTED TECHNOLOGY

- Proven that oil production can be increased by 30% up to 380%

TECHNOLOGY

ONSHORE

* Source: Bloomberg. Crude Oil (Brent)= US$108 /b (26.09.2013)

OFFSHORE

SOUTH AMERICA

2013

CENTRAL AMER

2011

83bpd

137bpd+65%

899bpd

1865bpd

+107%

Additionalrevenue

US$ 5,832*per day

Additionalrevenue

US$ 104,32per day

CENTRAL AMERICA

2010

CENTRAL AMERICA

2009

49bpd

235bpd

Before After

+380%

39bpd

116Bpd

Before After

+197%

Additionalrevenue

US$ 20,088*per day

Additionalrevenue

US$ 8,316*per day

Before AfterBefore After

106BPD= Alltimehigh

CLIENT ADVANTAGES

Short downtime of less than 2 hours

Less environmental risks

Cheaper than common chemical treatmentprocedures

Easy to scale technology

No switching costs, as Rexonic technologycan be used in addition to existingEnhanced Oil Recovery technologies

Fast return on investment

O C C S S


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Existing daily production of clogged well 100 bpd

Daily production after Rexonic stimulation 130 bpd

Increase in daily production 30 bpd

Crude oil price US$ 100 / barrel

INCREASED REVENUE PER DAY US$ 3,000

INCREASED REVENUE PER YEAR US$ 1.1 million

REXONIC - CASE STUDY

CASE STUDY

example of impact on one successful stimulation of a cloggedproduction well and assuming 30% increased production


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OVERVIEW OF REX CONCESSIONS


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OVERVIEW OF REX CONCESSIONS

UARAK OFFRAK ON

SHAROFFSH

OMANBLOCK 50

OFFSHORE

NORWAY6 LICENCES(2)

OFFSHORE

USAFRAM

EXPLORATION27.7%(1)

(LEASES INCO & ND)

TRINIDAD3 CONCESSIONS

ONSHORE

MALAYSIAHIREX JV

SWITZERLANDREXONIC JV

Notes as at 15 Nov 2013::(1) Assuming exchange of 20% stake in US concessions into direct stake in Fram is completed(2) Assuming transfer of 10% stakes in PL 707 & PL 708 is completed

REX COMPANY STRUCTURE*


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64%

REX COMPANY STRUCTURE

REX USLIME

PETROLEUM

BAQALPETROLEUMASSET: RAKONSHORE

ZUBARAPETROLEUMASSET:SHARJAH

OFFSHORE

MASIRAHOILASSET: BLOCK 50OMAN OFFSHORE

DAHANPETROLEUMASSET: RAK

NORTH OFFSHORE

LOYZ REXDRILLINGSERVICES LLC

COLORADO /NORTH DAKOTA

2 ONSHORE LEASEAREAS*

FRAMEXPLORATION(1)

REX INTERNATIONAL HOLDING

HIBISCUS

100% 65%

LIME P

NO6 OFFSHORPL498 PL 61

PL 7

100%100%59%49%

35% SHAREHOLDER

28% 41%

HIREX

Notes as at 15 Nov 2013:* Simplified model of group structure, see Offer Document for complete details**Assuming certain well obligations are met(1) Assuming exchange of 20% stake in US concessions into direct stake in Fram is completed(2) Assuming transfer of 10% stakes in PL707 and PL708 is completed

64%

Inniss-Trinity 100% South Erin Block 75% Cory Moruga Block E 51%**

PL503 Va PL503B V PL616 Ska PL498 Ska PL707 Se PL 708 Se

RAK Onshore 100% Sharjah - 100% Block 50 Oman 100% RAK North - 100%

CARIBBEANREX

ASSETS: 2 ONSHORE RIGS

OWNER OF US LICENCES

REX IS WELL-CAPITALISED FORTHE NEXT FEW YEARS


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THE NEXT FEW YEARS

Amount of funds raised

Pre-listing/ At asset & subsidiary level SGD 114.3 million USD 90 million

Pre-IPO (excluding share swap) SGD 35.6 million USD 28 million

IPO 31.7.2013 SGD 85.3 millionPrivate Placement (Net) 6.11.2013 SGD 50.5 million

Intended Use of IPO Proceeds SGD 85.3 million Intended Use of Private PlacementNet Proceeds

SG

Investment in new opportunities SGD 15.7 million New opportunities in Asia-Pacific SG

Drilling in Middle East Concessions SGD 12.4 million New opportunities in existing markets SG

Drilling in Norwegian Licences SGD 23.6 million Rexonic SG

Repayment of loan to Rex Partners SGD 2.4 million

General working capital(1) SGD 25.9 million

Listing expenses(1) SGD 5.3 million

Conversion Rate: SGD1.00 = USD0.79

(1)Amount of SGD 1.7 million has been redeployed to listing expenses

STRONG STRATEGIC PARTNERS


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REXTECHNOLOGYMANAGEMENT

Technology

Provider

Rex TechnologyManagement is the

licence provider ofRex Gravity, RexSeepage and Rex

Virtual Drilling.

BGP

Seismic Data

Provider

A leadinggeophysical service

company; havecooperated on

complex marine

surveys in Oman,Sharjah and Ras

Al-Khaimah.

SCHRODERS

Investor

A global assetmanagementcompany withUSD359 billion

AUM.

HIBISCUS

Strategic Investor

Malaysia's first listedindependent oil andgas E&P company,

developing small andmedium-sized oil and

gas fields in theMiddle East, South

Asia, East Asia andOceania regions.

FRAMEXPLORATION

ASA

Partner in

US Leases

A Norwegian oilcompany with matureassets onshore in the

US and in theRepublic of Trinidad

and Tobago.

LOYZ ENERGY

Partner in

Drilling Co

A Singapore companyset on becoming a

reputableindependent E&Penergy company in

the Asia-Pacificregion.

PETROCI

Partner in

Oman

The national oilcompany of the IvoryCoast active in thewhole value chainfrom exploration to

production.

NORTH ENERGY

Partner in

Norway

A Norwegian oilcompany listed inOslo, focusing on

assets located on theNorwegian

Continental Shelf. Itis partner in morethan 20 offshore

licenses in Norway.

PARETO

Investor

A leadingindependent energyand energy serviceinvestment bank inEurope, managing

USD 3 billion inequity markets in

2012.

E&P COMPANIES

TECHNOLOGYCOMPANIES /INVESTORS

OG

Tec

De

A Swiswhose fomore th

expeultr

tech

STAUR

Investor

A Norwegian family-owned conglomerate,doing hands-on anddynamic work with

businesses in the oil-

service, energy andfood industries.

KEY MANAGEMENT &SHARE PRICE OVERVIEW
http://localhost/var/www/apps/conversion/tmp/scratch_6//localhost/Users/kristoferskantze/Google%20Drive/1.%20Rex/2.%20Marketing/2.%20Rex%20corporate%20presentation/130127%20North%20Energy-%20Short.f4vhttp://localhost/var/www/apps/conversion/tmp/scratch_6//localhost/Users/kristoferskantze/Google%20Drive/1.%20Rex/2.%20Marketing/2.%20Rex%20corporate%20presentation/130127%20North%20Energy-%20Short.f4v


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SHARE PRICE OVERVIEW

Major sha

Rex Comm

Schroders

Pre-IPO in

Ogsonic

PPCF and

Fram

Public floa

Total

*As at 15 Nove

IPO facts

Listing date 31 July 2013

Stock code 5WH

Subscription of public tranche 153x

Share price at IPO SGD 0.50

Share facts as at Fri, 15 Nov 2013 (closing)

Share price SGD 0.660

Number of shares 1,094,957,263

Market capitalisation SGD 722.7 m

Share price devt. since IPO +33%

BOARD OF DIRECTORS

Mr. Dan Brostrm Executive Chairman

Dr. Karl Lidgren Non Executive Director

Mr. Sameer Khan Independent Director

Mr. Abderahmane Fodil Independent Director

Mr. Boon-Ann Sin Independent Director

KEY EXECUTIVES

Mr. Mns Lidgren Chief Executive Officer

Mr. ke Knutsson Chief Financial Officer

Mr. Kristofer Skantze Chief Operating Officer

Mrs. Lina Berntsen Chief Technology Officer

Ms. Mok Lai Siong Group General Manager

LIQUIDITY & SHARE PRICE


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Average daily trading volume since listing up to 15 Nov 2013: 17.8 million s

Average daily trading volume for last 10 days up to 15 Nov 2013: 7.9 millio

Source: Shareinvestor as at 15 Nov 2013

BUSINESS MODEL


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VISION: MARKET CAPITALISATION OF MORE THAN S$1 BILLION

Access to Rex Technologies to asses Fast exploration decision process and Targeted concession investments bas

Complementaryrecurringincome throughoil services jointventure using oilstimulation

technology

Portfolio indifferentstable, lower-tax, oil-richgeographies tospread risks

Strongpartnershipswith strategicpartners, withlimited equitystake per

concession

Maintain aportion of oiproducingassets forrecurringincome

REX INTERNATIONAL HOLDINGA sustainable game-changer in oil explorat

FOUNDATION OFCUTTING-EDGETECHNOLOGY

PILLARS OFBUSINESSSTRATEGY

ACHIEVABLE

MISSION

Continuouscapitalrecyclingsell-off oil inground andinvest in new

assets


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INVESTORS AND MEDIA

Ms. Mok Lai Siong

Group General Manager, IR & Communications

T: +65 6908 4858

M: +65 8518 8945Email: [email protected]

COMPANY ADDRESS

Rex International Holding Ltd

6 Raffles Quay #20-07

Singapore 048580

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