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Unit 1

Email: projects@scidev.com.au

8 Turbo Road

Website: www.scidev.com.au

Kings Park NSW 2148 Australia

ASX code: SDV

ABN 25 001 150 849

Companies Announcements Office

Australian Stock Exchange

31st January 2022

December Quarter Trading Update

SciDev Ltd (ASX: SDV) ('SciDev' or 'the Company') is pleased to provide an update on its financial and operational performance for the quarter ended 31 December 2021 (Q2FY22).

Financial Highlights*

  • Q2 FY22 revenue of A$13.7m a 32% uplift on Q1 FY22 with cash receipts of A$9.77m
  • The December quarter saw a return of one-off project and services revenue as COVID related travel restrictions eased in some Australian states
  • Operating cashflow in 2nd quarter was negative $1.9M primarily due to a planned inventory build, taking advantage of prevailing market prices and to insulate from seasonal supply chain risks
  • The company successfully raised $17.4M in additional capital to be used to accelerate the growth of the business
  • Cash and cash equivalents of A$16.4m as 31 December 2021
    • Revenue figures are unaudited

New Innovation Success

  • SciDev have been engaged by a leading ASX listed waste management company on the detailed design of a PFAS and ammonia water treatment system using SciDev technology
  • Oil & Gas: Ongoing collaboration with BPX has translated into the CatCheck technology use on multiple wells operated by Haliburton with additional geographic basins being evaluated
  • Continued development of environmentally friendly green chemistry initiatives to displace oil based chemistries

Commercial and Operational Highlights in Q2

  • Iluka's Jacinth Ambrosia mine have extended the existing three-year contract for a further year, until August 2023
  • Continued execution against contracts with major Australian mining companies, SciDev is now

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active on over 20 mine sites globally.

  • Oil & Gas revenue was up 100% versus the prior quarter in part reflecting increasing market activities
  • SciDev technology has delivered 11 full scale PFAS projects in the past 6 years, achieving a reduction in contaminant levels of over 99.999%.
  • Business development activities in the global infrastructure sector continue, with focus on tunnel boring opportunities in the USA and Europe
  • The company is awaiting results on several commercial tenders in Construction and Oil sands
  • Several leadership changes in Oil & Gas, Mining & Construction and Finance
  • Payments to Directors and their associates for the quarter ($208K) includes fees paid to Non- Executive Directors, remuneration to the MD&CEO and rent paid to a company associated with a Director.

Table1: Revenue by vertical*

Sector

Mining &

Construction

revenue

Mineral

Oil & Gas

&

Water

Total

(A$,000s)

Processing

Infrastructure

Q2 FY21

$4,248

$4,048

$387

$208

$8,891

Q3 FY21

$2,949

$4,858

$3,071

$341

$11,219

Q4 FY21

$4,887

$3,637

$951

$3,761

$13,239

Q1 FY22

$3,401

$4,000

$54

$2,939

$10,394

Q2 FY22

$2,788

$8,009

$12

$2,935

$13,744

*Unaudited

Outlook

Management focuses for FY22 include:

  • Driving SciDev's market leading solution in the growing PFAS market
  • Pursue opportunities in Construction in North America and Europe
  • Continue to convert opportunities in Oil & Gas
  • Execute on opportunities in Mining
  • Continued focus on increasing sales and cash conversion in all regions
  • Relocation and expansion of Australian manufacturing facilities and lab upgrade
  • Expand inhouse Green Chemistry development and manufacturing to meet growing demand

Lewis Utting

Managing Director & Chief Executive Officer

This release has been approved by the Board of Directors of SciDev Limited.

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For Further Information:

Corporate

Investors

Lewis Utting - MD & CEO

Craig Sainsbury - Market Eye

Heath Roberts - Company Secretary

craig.sainsbury@marketeye.com.au

(+61) 2 9622 5185

(+61) 428 550 499

About SciDev

SciDev is a leader in the environmental solutions market focused on water intensive industries. SciDev brings together world-class technology, chemistry and application to solve pressing operational and environmental issues for the water, oil and gas, mining and construction markets.

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Rule 4.7B

Appendix 4C

Quarterly cash flow report for entities

subject to Listing Rule 4.7B

Name of entity

SciDev Limited

ABN

Quarter ended ("current quarter")

25 001 150 849

31 December 2021

Consolidated statement of cash flows

Current quarter

Year to date

$A'000

(6 months)

$A'000

1.

Cash flows from operating activities

1.1

Receipts from customers

9,770

22,205

1.2

Payments for

(a) research and development

-

-

(b) product manufacturing and operating costs

(9,489)

(20,165)

(c) advertising and marketing

-

-

(d) leased assets

-

-

(e) staff costs

(2,117)

(4,412)

(f) administration and corporate costs

-

-

1.3

Dividends received (see note 3)

-

-

1.4

Interest received

-

1

1.5

Interest and other costs of finance paid

(63)

(130)

1.6

Income taxes paid

-

-

1.7

Government grants and tax incentives

19

1,163

1.8

Other (provide details if material)

-

-

1.9

Net cash from / (used in) operating activities

(1,880)

(1,338)

2

Cash flows from investing activities

2.1

Payments to acquire and for:

(a) entities

-

-

(b) businesses

(2,922)

(4,115)

(c) property, plant and equipment

(940)

(1,289)

(d) investments

-

-

(e) intellectual property

(34)

(59)

(f) other non-current assets

(41)

(48)

ASX Listing Rules Appendix 4C (17/07/20)

+ See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B

only

Consolidated statement of cash flows

2.2

Proceeds from disposal of:

(a) entities

(b) businesses

use

(c) property, plant and equipment

(d) investments

(e) intellectual property

(f) other non-current assets

2.3

Cash flows from loans to other entities

personal

2.4

Dividends received (see note 3)

2.5

Other (provide details if material)

2.6

Net cash from / (used in) investing activities

3

Cash flows from financing activities

3.1

Proceeds from issues of equity securities (excluding

convertible debt securities)

3.2

Proceeds from issue of convertible debt securities

3.3

Proceeds from exercise of options

3.4

Transaction costs related to issues of equity securities or

convertible debt securities

3.5

Proceeds from borrowings

3.6

Repayment of borrowings

For

3.7

Transaction costs related to loans and borrowings

3.8

Dividends paid

3.9

Other (provide details if material)

3.10

Net cash from / (used in) financing activities

4

Net increase / (decrease) in cash and cash equivalents

for the period

4.1

Cash and cash equivalents at beginning of period

4.2

Net cash from / (used in) operating activities (item 1.9 above)

ASX Listing Rules Appendix 4C (17/07/20)

+ See chapter 19 of the ASX Listing Rules for defined terms.

Current quarter

Year to date

$A'000

(6 months)

$A'000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(3,937)

(5,511)

18,35818,388

-

-

-

-

(954)(954)

-

-

(592)(1,194)

-

-

-

-

-

-

16,812

16,240

5,4167,010

(1,880)(1,338)

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Scidev Ltd. published this content on 30 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 January 2022 22:30:06 UTC.