Q2 F2016 Conference Call

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1 Q2 F2016 Conference Call Driving Value April 28, 2016

2 Cautionary Statement Information in this presentation relating to projected growth and financial performance of the Company s business units, contribution of our greenfield business units, margin performance and operating efficiencies are forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements made during this presentation referring to growth and financial performance of the Company s business units, margin, operating improvement, capital expenditures and acquisitions because these plans, intentions or expectations are based on, among other things, assumptions about the number of automobiles produced in North America and Europe, the number of extrusion dies required in North America and South America, the rate of economic growth in North America and Europe and emerging markets, investment by OEMs in drivetrain and structural part architecture and other initiatives intended to reduce fuel consumption and/or the weight of automobiles, weakening raw material prices, continuing economic recovery, capital expenditures and currency fluctuations which may in fact not occur. These forward-looking statements include known and unknown risks, uncertainties, assumptions and other factors which may cause actual results or achievements to be materially different from those expressed or implied. For a more extensive discussion of Exco s risks and uncertainties see the Risks and Uncertainties section in the 2015 Annual Report, our 2015 Annual Information Form ( AIF ) and other reports and securities filings made by the Company. This information is available at and While Exco believes that the expectations expressed by such forward-looking statements are reasonable, we cannot assure that they will be correct. In evaluating forward-looking information and statements, readers should carefully consider the various factors which could cause actual results or events to differ materially from those indicated in the forward-looking information and statements. Readers are cautioned that the foregoing list of important factors is not exhaustive. Furthermore, the Company will update its disclosure upon publication of each fiscal quarter s financial results and otherwise disclaims any obligations to update publicly or otherwise revise any such factors or any of the forward-looking information or statements contained herein to reflect subsequent information, events or developments, changes in risk factors or otherwise. EXCO TECHNOLOGIES LIMITED 2

3 Q2 F2016 Overview Key Achievements in the Quarter Completed highly accretive AFX Acquisition; closed April 4, 2016 Permanently closed ALC s South African operations Continued to make progress on realignment of Extrusion die facilities Federal government of Canada to provide a non-refundable grant for up to $4.6 million; 50% of the costs for our previously announced large mould capex spend in Newmarket First Mazak machine in Newmarket now operational Entered into an agreement for $100 million three-year committed credit facility Settled outstanding arbitration; expect to receive proceeds of ~$C3.5 million in Q3/ F2016 Balance sheet remains very strong EXCO TECHNOLOGIES LIMITED 3

4 Q2 F2016 Overview Market Conditions; Outlook Outlook for second half of fiscal 2016 remains fundamentally strong North American automotive sector remains robust with elevated production levels expected to persist European automotive volumes moving ahead Steady launch of new product offerings in Automotive Solutions segment supports market share growth Pricing pressures persist but are being managed Large mould results choppy, but bidding activity strong with vehicle light-weighting and regulatory requirements providing key growth drivers; backlog remains solid Extrusion results will benefit from current realignment activities and seasoning of greenfields AFX transaction and ALC SA plant closure will provide meaningful boost to earnings Foreign exchange movements will continue to add volatility to results EXCO TECHNOLOGIES LIMITED 4

5 Q2 F2016 Financial Results EXCO TECHNOLOGIES LIMITED 5

6 Q2 F2016 Overview Consolidated Results versus Prior Year Quarter Consolidated revenue of $133.4 million up $7.9 million or 6% EBITDA down $3 million to $16.9 million; flat excluding: $2 million of negative FX translation variance $1 million of costs to complete AFX transaction Net Income of $9 million or $0.21/ share compared to $10.9 million or $0.26/ share Adjusted net income roughly flat year over year excluding above factors EXCO TECHNOLOGIES LIMITED 6

7 Consolidated Sales Automotive Solutions Segment and Foreign Exchange Drove Sales Higher C$ Millions Q2 F2015 Automotive Solutions (FX Adjusted) Casting and Extrusion (FX Adjusted) Foreign Exchange Q2 F2016 EXCO TECHNOLOGIES LIMITED 7

8 Q2 F2016 Segment Overview Automotive Solutions Segment Revenue of $86.3 million up $9.6 million or 13% from Q2/F15; half of growth from FX movements Top line growth provided by all four of segment s business units (Polytech, Polydesign, Neocon and ALC) Polydesign sales up 25% in the quarter Segment pretax profits increased $2.4 million (or 28%) to $11.1 million driven by higher sales and margin expansion ALC combined South African and Lesotho losses of $1.6 million will reduce substantially with closure of South African operations beginning in Q3/F16 Will begin to report results of AFX Industries commencing with Q3/F16 quarter EXCO TECHNOLOGIES LIMITED 8

9 Q2 F2016 Segment Overview Casting and Extrusion Segment Segment revenue of $47.1 million down $1.7 million or 4%; down $3.8 million or 8% excluding FX Segment profits of $5.1 million down $3.9 million or 43% Large Mould segment sales and profits lower due to: Reduced volumes on a key program following a period of heightened activity Inefficiencies associated with new and one-off programs Production disruptions associated with new equipment installation in Newmarket facility Lumpiness of results following exceptionally strong Q1/F16 Extrusion operation results modestly lower in the quarter due to near term disruptions at established operations as longer term efficiency measures implemented and move to new plant in Texas Greenfields continue to season with combined Thailand and Brazilian losses narrowing to $0.01/ share in the quarter while Colombian operation performed very strongly EXCO TECHNOLOGIES LIMITED 9

10 C$ Millions Financial Leverage and Liquidity Pro-Forma Net Debt/ LTM Adjusted EBITDA of 0.6x 100 Exco C$60M Net Debt Trailing twelve month PF EBITDA of C$96M 80 7 C$100M committed revolver matures February 2019; $31M available 60 Bank Debt Balance sheet cash of $17M Revolver Borrowings Net debt expected to reduce in H2/F16 from free cash flow, Government grant proceeds and arbitration collection 0 17 Cash -20 As at March 31, 2016 pro-forma for AFX transaction payments EXCO TECHNOLOGIES LIMITED 10

11 Questions EXCO TECHNOLOGIES LIMITED 11

12 Appendix: Adjusted Results Adjusted Q2 EBITDA and Net Income Relatively Flat Year over Year Q2 F2016 AFX Transaction Expense FX Translation Loss/ (Gain) ALC South Africa/ Lesotho Operating Loss Q Adjusted EBITDA $16.9 $1.0 $1.0 $1.6 $20.5 Net Income $9.0 $0.7 $0.7 $1.6 $12.0 Basic EPS $0.21 $0.02 $0.02 $0.04 $0.28* Q2 F2015 AFX Transaction Expense FX Translation Loss/ (Gain) ALC South Africa/ Lesotho Operating Loss Q Adjusted EBITDA $19.9 $0 ($1.0) $1.5 $20.4 Net Income $10.9 $0 ($0.7) $1.5 $11.7 Basic EPS $0.26 $0.00 ($0.02) $0.04 $0.28 * Does not add due to rounding EXCO TECHNOLOGIES LIMITED 12

13 Appendix: Adjusted Results Adjusted H1 EBITDA and Net Income Higher Year over Year H1 F2016 AFX Transaction Expense FX Translation Loss/ (Gain) ALC South Africa/ Lesotho Operating Loss H Adjusted EBITDA $37.9 $1.3 $0.5 $2.9 $42.6 Net Income $20.8 $0.9 $0.3 $2.9 $24.9 Basic EPS $0.49 $0.02 $0.01 $0.07 $0.59 H1 F2015 AFX Transaction Expense FX Translation Loss/ (Gain) ALC South Africa/ Lesotho Operating Loss H Adjusted EBITDA $36.8 $0 ($0.9) $3.0 $38.9 Net Income $20.5 $0 ($0.6) $2.4 $22.3 Basic EPS $0.49 $0.00 ($0.02) $0.06 $0.53* * Does not add due to rounding EXCO TECHNOLOGIES LIMITED 13

14 EXCO TECHNOLOGIES LIMITED 14

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