NewSat Ltd Adrian Ballintine Managing Director

ASX Spotlight - Small to Mid Caps Conference February 2013

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NewSat overview video

Company overview

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NewSat (ASX:NWT) is Australia’s leading independent satellite

service provider specialising in global satellite communications

― Operates as a reseller of third-party satellite capacity using

owned Teleports in Adelaide and Perth, Australia

― Provides remote and temporary sites with fast, secure and

reliable Internet, voice, data and video communications

Established and profitable current business:

― Market capitalisation of A$250M

― 22% average revenue growth over the last two years

― EBITDA of A$3.9m, FY12

Jabiru project to transform business from a “reseller” of satellite

capacity to an “owner” of satellites

― Expected to create a step-change in earnings and

significantly increase EBITDA margins once Jabiru is

operational

NewSat also holds an attractive portfolio of satellite slots, which

will form the basis for additional future satellite launches NewSat Orbital Slot MEASAT Orbital Slot

Development timetable

NewSat’s satellite slot portfolio

Stage 1 Stage 2 Stage 3

2002 Solutions provider

2005 Teleport operator

2011–2015 Satellite operator

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Experienced Management Team

Michael Hewins Chief Operating Officer >30 years of executive management experience in global space industry

Satellite Experience: AON / International Space Brokers (Chief Commercial Officer), Arianespace

Adrian Ballintine Founder and CEO >30 years of global technology experience

Satellite Experience: 2011 Teleport Executive of the Year and Director of the World Teleport Association

David Ball Chief Technology Officer 20 years of experience in satellite and communication sectors

Satellite Experience: Intelsat (Managing Director Asia Pacific), PanAmSat

William Abbott

Corporate Counsel

>30 years corporate law experience including capital raising, commercial financing, corporate governance, compliance and enforcement

Mike Kenneally

VP – Satellite Strategy

>30 years global ICT and satellite experience with Telecom NZ, Optus, Telstra, Lockheed Martin

Len McGoldrick

VP – Engineering & Operations

25 years experience in satellite operations with SES New Skies, British Telecom

Andrew Matlock VP – Sales

>25 years experience in the telco and technology sectors, including at Calcomp Inc. (division of Lockheed Martin)

Adam Shapiro

Chief Financial Officer / Company Secretary

>10 years financial sector experience at PriceWaterhouseCoopers and Ernst & Young in assurance and advisory

Merv Kuek VP – Marketing

>10 years marketing and communications experience, including Telstra and Crazy John’s (subsidiary of Vodafone Australia)

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Existing Industry Knowledge and Networks from Teleport Business Provides Springboard

Currently purchase capacity from 7 satellite operators on 10 satellites (1)

Understand service requirements, transition contracts to owned capacity

Customer Insight / Solutions Oriented Supply Side Insight

Existing relationships and service accreditations

Military Accredited & Internationally Recognised

Note: 1. Includes agreement with MEASAT for hosted payload on Jabiru-2

Ka-Band Supplementary to C- and Ku-Band Markets

Widely used Broad footprint Least rain fade Reliable low bandwidth Interference from terrestrial

systems Larger earth station antenna

required New spectrum unavailable

C-Band (4-8GHz)

Higher power transmission More focused beams Some rain fade / signal attenuation

issues Spectrum saturated

Ku-Band (12-18GHz)

Offers high capacity bandwidth at already occupied satellite positions

Greatest user flexibility Smaller end-user antenna Higher frequency New spectrum available Some rain fade / signal attenuation

issues at the surface

Ka-Band (26-40GHz)

Uses Uses Uses

Full-time TV distribution Contribution feeds Backhaul and VSAT

Direct-to-home (DTH) television Satellite news gathering Fixed and broadcast services Backhaul and VSAT Enterprise communication networks Military applications Aeronautical & mobility applications

Fixed and broadcast services Backhaul and VSAT Enterprise communication networks Military applications High throughput satellite (HTS)

applications Aeronautical & mobility applications

Ka-band capacity can operate adjacent to C- and Ku-band frequencies with no interference

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Jabiru-1 is a Highly Flexible Satellite with Proven Technology

Jabiru-1 Overview

8.3GHz capacity: one of the largest commercial communication satellites

― 7.6GHz Ka-band

― 648MHz Ku-band

Ka-band is proven technology

― Ka-band satellites have been operating for >10 years. Number of Ka-band satellites has steadily increased in the last 5 years

Highly flexible payload: spot, regional and steerable beams

Currently under construction by Lockheed Martin

Launch date scheduled for mid 2015

Ka-Band Capacity Overview

Ku-band

Ka-band: spot beams

Ka-band: regional beams

Ka-band: steerable beams

(MHz)

Capacity Breakdown

24 Spot Beams

Concentrates power in a specific location

Allow same frequency transmissions in other locations

Potential to switch 5 spot beams into high demand regions to provide additional capacity

3 Regional Beams

Coverage tailored to serve coastlines or specific areas without including unwanted regions

Wider coverage than traditional Ka-band spot beams

2 Steerable Beams

Ability to position coverage in areas of high demand anywhere on the visible earth

65%

19%

8% 8%

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Experienced Partners to Execute the Project

Source Lockheed Martin, Arianespace, Export-Import Bank of the United States Note: 1. ECA funding subject to customary conditions precedent, including NewSat contributing ~US$105MM in equity. Refer to “Funding Risk” in Appendix of

this presentation for further information 2. Weighted average interest rate based on Ex-Im Bank benchmark Commercial Interest Reference Rate (CIRR) of 1.81%, effective from 15 February

2012. Final interest rate will be determined with reference to the prevailing CIRR five business days prior to the Financial Close Date for ECA funding

Export Credit Agency (ECA) Debt Financing Providers

(see Appendix for summary term sheet) ~US$400MM facility size for Jabiru-1

― Approved by Ex-Im Bank Board, now subject to equity raise(1)

― COFACE promesse granted Weighted average fixed interest rate of ~3.0% (2)

8.5 year amortisation period from commencement of operations

Finance partners

Construction contract signed; preliminary design review (PDR) completed Jabiru-1 construction commenced and is on schedule Using proven A2100 series spacecraft platform

− Currently 39 A2100 series spacecraft in orbit − Design life 15 years

Over 100 GEO (geosynchronous earth orbit) commercial communications satellites launched

Launch Service Agreement signed Accounts for over half of all worldwide commercial launches Using proven Ariane 5 rocket technology

− 53 consecutive successful launches 300 primary satellites launched from French Guiana operations

Construction and launch partners

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Exposure to High Growth Markets

Source Euromonitor International 2012, Informa, ITU

Satellite offers effective, low-cost carriage in NewSat's target markets, which have minimal fixed network infrastructure, and low 3G mobile and internet penetration

Note: Values shown are for 2011 (except internet penetration for 2010) 1. Includes Armenia, Azerbaijan, Cyprus, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Oman, Saudi Arabia, Syria, United Arab Emirates and Yemen 2. Includes Burundi, Central African Republic, Chad, Democratic Republic of Congo, Djibouti, Egypt, Eritrea, Kenya, Libya, Rwanda, Somalia, Sudan,

Tanzania and Uganda 3. Includes Afghanistan, Kyrgyzstan, Pakistan, Tajikistan, Turkmenistan and Uzbekistan 4. CIA World Factbook, as at 4 February 2013

Worldwide

Total Population: 7.0 billion (4)

Internet Penetration

30%

3G Mobile Penetration

16%

Middle East (1)

Total Population: 227 million (4)

Internet Penetration

24%

3G Mobile Penetration

11%

North-East Africa (2)

Total Population: 376 million (4)

Internet Penetration

14%

3G Mobile Penetration 4%

South-West Asia (3) Total Population: 267 million (4)

Internet Penetration

15%

3G Mobile Penetration

0.3%

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High Bandwidth Data Applications Expected to Drive Growth

Enterprise Data Networking

Government and Military Operations

3G / 4G Mobile Backhaul

Reliance on time-sensitive data/connectivity

Growth in remote oil, gas and mining operations

Current customers of teleport business – we understand their service requirement

Provides connectivity across multiple sites / operating locations

Backup for enterprise networks

Accredited to provide services to certain Governments / military

Increased utilisation of data-rich technologies (e.g. UAV’s)

Increasing Government reliance on private sector

Ongoing conflicts in Middle East / North Africa region

Small % of operating costs / defence budgets

Connectivity across multiple sites (e.g. mobile, airborne, maritime)

Critical to data service delivery

Expected growth in mobile data volume / smartphones in emerging economies. Customers seek large bandwidth volumes

Limited existing network infrastructure capable of satisfying demands

Reliable connection into fixed/fibre networks. Cost effective

Ubiquitous rural and remote access

Rationale / Opportunity Existing customers / End Users

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Customers & Pipeline

Customer Description Existing Customer(s) Potential Size (US$MM) Status

1 U.S. satellite operator, looking for Ka-band expansion 88 Negotiations well progressed

2 Southeast Asian satellite operator 74 Contract under review, negotiations well progressed

3 Pakistani telco, trunking / backhaul service 72 Reviewing proposal

4 Systems integrator providing Government welfare communications 11 Current Jabiru customer, considering extension

5 Australian based, non-Government communications provider 10 Contract under review, negotiations well progressed

6 Systems integrator providing general Government services 8 Reviewing proposal

7 Division of large satellite operator, Maritime / Government applications 7 Reviewing proposal

8 Systems integrator focused on UAV services 5 Reviewing opportunity

9 - 27 Additional J-1 pipeline customers (including 1 existing teleport customer) 179 Various

Subtotal Jabiru-1 454

J-2 & J-3 Additional pipeline customers for J-2 and J-3 175 Various

Grand Total 629

Weighted Toward Telco and Govt.

Telco

Government

Enterprise

(Total Contracts + Sales Pipeline = US$1,247MM)

Estimated Sales Pipeline Across Jabiru-1, 2 & 3 – US$629MM

Binding Pre-Launch Contracts – US$618MM

(US$MM)

197

105

13440

67 32 1330

618

0

175

350

525

700

Middle East Telco.

GCC Company

U.S. Comm’s Co.

Ku-band Ka-band Ka-band Ka-band Ka-band Ka-band Ka-band

~18% of Jabiru-1 life of satellite capacity currently pre-sold

Pre

-Lau

nch

Con

trac

ts

Sale

s P

ipel

ine

Tota

l Con

trac

ts +

Pip

elin

e

Direct-to-Home (DTH)

16%

26%

36%

22%

South Asian Reseller

Ka-band

+

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Established FSS Economic Model Providing Significant Potential Returns

Key Economics of Jabiru-1 Industry Fill Rate (1) and EBITDA Margin (2)

Capacity Pricing Over Middle East (3)

(%) Capacity: Jabiru-1 capacity 8.3GHz

Expected Year-1 Fill Rate: >60% ― Industry average 74% (’06 – ’10A) ― Pre-sales at a ~30% discount to market ― Long-term take-or-pay contracts ― No pre-sales of high value steerable beams (~8% of

capacity) – reserved to sell on the spot market – expected higher pricing

Revenue: Jabiru-1 total annual capacity (US$MM p.a.)

Operating Costs: Fixed, marginal costs expected to be in-line with standard FSS operating model. Variable costs include insurance (including in-orbit insurance) and sales commissions

Depreciation: Straight-line over 15 years (deferred until launch)

Teleport & Jabiru-2: Ability to transfer existing supply arrangements to “owned” capacity on Jabiru-2 will expand margins

1.00

1.25

1.50

1.75

2.00

2.25

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Ka-band C-band Ku-band

(US$MM / TPE)

Source Company filings, Euroconsult

Source NewSat analysis, NSR

65%

70%

75%

80%

2006 2007 2008 2009 2010

% Fill Rate % EBITDA MarginCapacity Utilisation (%)

80% 70% 60%

1.2 220 193 165

1.3 239 209 179

1.4 257 225 193 Wei

ghte

d A

vera

ge

Pric

e p.

a.

(US$

MM

/ TP

E)

Note: 1. Estimated fill rate of transponders in orbit (all lifecycle stages / ages, and excluding HTS capacities) 2. Aggregate EBITDA margin for Intelsat, PanAmSat, SES, Eutelsat and Telesat 3. 2008 to 2011 capacity pricing based on NewSat capacity purchasing and additional research across 14 satellites covering the Middle East region. 2012

to 2018 capacity pricing based on NSR GASSD 2009 research covering the Middle East region

Historical Forecast

Sources and Uses

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Sources of Funds (US$MM) (1)

Uses of Funds (US$MM) (1)

Ex-Im Bank Direct Loan 291 Spacecraft & Launch Vehicle 384

COFACE Guaranteed Facility 108 Insurance 36

Mezzanine(2) 30 Opex / Non-Satellite Capex 50

Standby Facility 25 Interest During Construction 19

Proposed New Equity Issue(3) 108 ECA Exposure Fees 39

Equity Spent to Date 49 Other(4) 44

DSRA 14

Contingency 25

Total Sources 611 Total Uses 611 Note: 1. Approximate values shown; ECA funding subject to customary conditions precedent, including NewSat contributing ~US$105MM in equity. Refer to

“Funding Risk” in Appendix of this presentation for further information 2. Minimum mezzanine financing amount of US$30 million, potential to increase to US$40 million, in which case equity component may be reduced 3. Assumes minimum equity raising of US$105 million. Actual range of US$105 – 115 million 4. “Other” composed of: refinancing of existing debt ($6.3m), equity placement fees ($8.3m), mezzanine placement fees ($1.8m), ECA co-ordination and

advisory fees ($4.0m), standby facility fees ($2.0m), ECA due diligence costs ($3.0m), COFACE facility agreement fees ($2.2m) and orbital slots and project startup costs ($13.4m)

Development timeline

Milestone Date Fulfilled

Acquired seven orbital slots January 2011

Lockheed Martin construction agreement signed December 2011

Arianespace launch agreement signed December 2011

Secured substantial off-take agreement February 2012

Obtained financing from Ex-Im and COFACE June 2012

Achieved improved financing terms January 2013

Equity component of financing package February 2013

Construction completion Mid 2015

Satellite launch Mid 2015

Positive cash flow FY2016

Launch Jabiru-3 and Jabiru-4 From 2017

Acquired seven orbital slots

Lockheed Martin construction agreement signed

Arianespace launch agreement signed

Secured substantial off-take agreement

Obtained approval from Ex-Im and COFACE

Achieved improved financing terms

Equity component of financing package

Planned construction completion

Planned satellite launch

Planned positive cash flow

Planned launch Jabiru-3 and Jabiru-4

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NewSat Investment Highlights

Exposure to High Growth Markets

Early Mover in Ka-Band Supports Value Enhancing Applications Focus

Leveraging Existing Teleport Business Expertise to Execute on Established FSS1 Economic Model

Balance Sheet Anchored by Attractive Export Credit Financing from High Quality Lenders

Highly Experienced Management Team

~18% of Life of Satellite Capacity Sold, with a Promising Pipeline of Blue-Chip Customers

1. Fixed Satellite Services

Melbourne, Australia Gold Coast, Australia Bangkok, Thailand Perth, Australia Washington DC, USA Dubai, UAE Adelaide, Australia Texas, USA Karachi, Pakistan Sydney, Australia Singapore, Singapore Johannesburg, South Africa

Thank you

NewSat Ltd Adrian Ballintine Managing Director