Litigation Capital Mgmt : 2023 Half Year Results Presentation

Full year results Presentation 2022

Litigation Capital Management Limited ACN 608 667 509

Presenters

Patrick Moloney

CHIEF EXECUTIVE OFFICER

Patrick Moloney is a veteran of the disputes funding industry with 19 year's experience in the space. Patrick has been a Director of LCM since 2003 and the Chief Executive Officer of the group since December 2013 based out of LCM's London Office. He is responsible for overseeing all litigation projects in which LCM has an investment and (as a Board member) for approving new litigation projects for funding. He has been involved in all aspects of the business including devising strategy for future growth,

investor relations and corporate affairs. Patrick is one of the most experienced litigationG financiers globally.

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Mary GangemiEN

CHIEF FINANCIAL OFFICER

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Mary has extensive senior management experience in financial services, having managed finance functions in the UK, Europe and Asia. Mary has extensive listed company experience and has been involved with a number of corporate transactions (both buy & sell side), and her involvement in several restructures, provides her with a strong background in change and people management.

Mary has a Bachelor of Commerce (Accounting and Finance), is qualified as a Certified Practising Accountant (CPA Australia), and has completed the Transition to General Management programme through Executive Education at INSEAD.

Mary's previous roles at Investment Banks and Brokers include; Bridgewell, Creditex and Canaccord. Most recently, she worked for IFG Group PLC, where she was part of the key management team that successfully sold the business to Epiris-Private Equity.

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HIGHLIGHTS

Highlights

Financial review

Operational review

Outlook

Delivering growth and scale as we transition to asset management

Funds under	Fund I fully committed and two thirds of the targeted US$300m raised for Fund II with commitments commenced
Management
Adjusted profit	YoY increase in investment performance with adjusted operating profit improving by 23% to A$20m
before tax1
Commitments	Overall commitments were in line with the prior year at A$104m while applications decreased to 442
Assets under	Commitments increased to A$414m by 30 June 2022 with further commitments in Fund II bringing our AuM to
management	A$452m at 31 August 2022invested1
Capital invested2	Total capital invested decreased from A$88m to A$66m. Capital
Consistent	Maintaining our strong track record with 11-year cumulative IRR of 79% and cumulative ROIC of 163%, inclusive of
performance	losses
Market	Litigation finance as an industry tends to operate countercyclically to the broader economic conditions.
conditions	Consequently, we are seeing and expect to continue to see greater demand for our capital

4	1 FY ended 30 June 2022 inclusive of third-party funds. Excluding third-party funds, adjusted profit before tax increased by 27%
2 FY ended 30 June 2022 inclusive of third-party funds. Excluding third-party funds, capital invested decreased by 40% largely attributable to maturing direct investments where LCM is funding 100% from balance

sheet

Building scale

Highlights

Financial review

Operational

review

Outlook

M e a s u r e s o f s u s t a i n e d g r o w t h ( A $ )

Number of applications

442

Capital committed in year 1

A$104m

Capital invested 2

A$66m

Applications

M a i n t e n a n c e o f	I n c r e a s e i n A U M ( A $ )
i n v e s t m e n t s t a n d a r d s

11 year cumulative	Total assets under
IRR	management
79%	$414m
11 year cumulative	Total assets under
ROIC	management - 31 Aug 224
163%	$452m

Capital committed A$m

Capital invested A$m

AUM A$m

FY22
442
FY21
572
FY20
522

FY22

FY21

FY20

104			FY22
			3
87	22	FY21
			147	FY20

66FY22

88FY21

52FY20

414

336

250

1 Capital committed in year represents new commitments signed up

2 Capital invested into litigation investments during the year inclusive of third party funds

53 Capital committed in the prior period includes a large construction portfolio investment which was significantly scaled down throughout the year due to increased risks associated with the matter and region 4 Excludes Fund I completed matter