Capital Drilling Limited

Capital Drilling Limited First Half 2015 Results Presentation 25 August 2015

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Group Highlights OPERATIONAL & STRATEGIC HIGHLIGHTS Refined business model for exploration & delineation contracts delivered 5 new contracts, utilizing existing assets 2 Year contract extension at the Tasiast Mine (Kinross: Mauritania) 5 week mobilisation into Botswana, delivering best in class drilling Another excellent safety performance with a number of new Group records Seamless transition to new CEO and CFO; relocation of corporate office to Mauritius FINANCIAL HIGHLIGHTS Strong operating performance continues to deliver stable gross profit margins (34.5% H1 2015) Outstanding cash generation despite weaker revenue, with Operating Cash Flow Margin increasing 18% Substantial improvement in working capital management Cash reserves increased to $15.2m ($14.7m Dec 14) Further debt reduction with the Group closing the period with net cash of $2.1m» Refinanced debt facilities with Standard Bank (February 2015) Declared interim dividend ofus 1.1cps 3

First Half 2015 Financial Performance

Financial Overview Revenue KPIs H1 2015 Reported H1 2015 Underlying H1 2014 Change % FY 2014 Average Fleet Size 97 97 95 2.1 96 Fleet Utilisation (%) 34 34 45 (24.4) 43 ARPOR ($) 189,000 189,000 193,000 (2.1) 188,000 Reported Earning H1 2015 Reported H1 2015 Underlying H1 2014 Change % FY 2014 Revenue ($m) 39.0 39.0 53.8 (27.5) 98.8 EBITDA ($m) 7.9 8.8 12.5 (36.8) 20.4 EBIT ($m) 0.6 1.5 4.0 (85.0) 3.9 NPAT ($m) (3.2) (0.6) 1.8 (277.8) (0.6) Basic EPS (cents) (2.4) (0.4) 1.3 284.6 (0.4) Diluted EPS (cents) (2.4) (0.4) 1.3 284.6 (0.4) Gross Profit (%) 34.5 34.5 34.5 0.0 33.4 EBITDA (%) 20.3 22.5 23.3 (12.9) 20.7 Revenue down 27.5% to $39.0m (H1 2014: $53.8m)» Soft utilisation driven by continued weak sector demand» Robust ARPOR reflecting continued operational improvements Reported EBITDA down 36.8% to $7.9m (H1 2014: $12.5m)» Underlying EBITDA down 29.6% to $8.8m EBIT down 85% to $0.6m (H1 2014: $4.0m)» Underlying EBIT down 62.5% to $1.5m Diluted EPS down to (2.4 cps) (H1 2014: 1.3 cps)» Underlying diluted EPS down to (0.4 cps) Reported earnings impacted by tax provisions in Mauritania ($1.3m) and Zambia ($1.2m): totalling $2.5m EBIT (%) 1.5 3.8 7.5 (80.0) 4.0 NPAT (%) (8.2) (1.5) 3.3 (384.5) (0.6) 5

Revenue Metrics 100 90 80 70 60 50 40 30 20 10 0 11 19 25 Current fleet of 97 rigs Fleet Growth 49 60 Acquired 1 new blast hole rig for deployment at the Geita Mine (AngloGold Ashanti, Tanzania) 74 85 93 95 96 Jan'06 Jan'07 Jan'08 Jan'09 Jan'10 Jan'11 Jan'12 Jan'13 Jan'14 Jan'15 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 66% 57% 60% 64% 59% 84% Utilisation (%) 79% 83% 74% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 09 09 09 09 10 10 10 10 11 11 11 11 12 12 12 12 13 13 13 13 14 14 14 14 15 15 Utilisation rates continue to trend at the lowest levels in Capital Drilling s history Utilisation rates fell after exiting the Pacific Islands & contract conclusion in Zambia; have since remained flat over 2015 76% 66% 46% 46% 45% 38% 33% 34% ARPOR (US$ 000 per month) Revenue (US$m) 000 230 210 190 170 150 130 110 90 70 50 156 137 119 123 148 160 209 164 186 198 184 186 165 187 163 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 09 09 09 09 10 10 10 10 11 11 11 11 12 12 12 12 13 13 13 13 14 14 14 14 15 15 198 179 189 80 70 60 50 40 30 20 10 0 79.1 79.8 71.0 72.7 59.5 53.8 46.3 43.6 45.0 39.0 29.7 29.4 28.7 1H 09 2H 09 1H 10 2H 10 1H 11 2H 11 1H 12 2H 12 1H 13 2H 13 1H 14 2H 14 1H 15 ARPOR remains at solid levels, improving into Q2 after the Q1 seasonal impact Operational improvements continuing to drive the solid performance H1 2015 revenues reduced by 13.5% compared to H2 2014 Revenue weakness driven by low utilisation in exploration & delineation drilling 6

Early movers on costs, margins maintained US$m 30.0 25.0 20.0 15.0 10.0 5.0 0.0 41.1% 32.6% GROSS PROFIT AND MARGINS 32.6% 38.6% 36.3% 33.3% 35.2% 31.4% 28.1% 23.3% 34.5% 34.5% 32.0% H1 09 H2 09 H1 10 H2 10 H1 11 H2 11 H1 12 H2 12 H1 13 H2 13 H1 14 H2 14 H1 15 GP (USDm) GP (%) Avg Margin 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% Continued to maintain operating margins at 5 year trend levels despite lower revenue» Reflects continued focus on cost management H1 2015 GP margin of 34.5% (H1 2014: 34.5%) H1 2015 EBITDA margin of 20.3% (H1 2014: 23.3%)» H1 2015 underlying EBITDA margin of 22.5% Cost reduction initiatives continuing to yield results and maintain Gross Profit & EBITDA margins, despite headwinds Lean cost structure positions the Group well to benefit from a recovery in demand EBITDA AND MARGINS COST MANAGEMENT US$m 25.0 20.0 15.0 10.0 28.2% 27.3% 27.5% 25.0% 24.9% 18.8% 26.5% 20.2% 18.5% 23.3% 17.2% 20.3% 30.0% 25.0% 20.0% 15.0% 10.0% Reduction in Management and Administrative costs to $5.5m in H1 ($6.5m H2 2014) Savings from Singapore corporate office move to Mauritius, full impact in H2 2015 Strategic supply agreement; locked in pricing & supply agreements around key stock items 5.0 8.1% 5.0% Stringent ordering & approval process maintained 0.0 H1 09 H2 09 H1 10 H2 10 H1 11 H2 11 H1 12 H2 12 H1 13 H2 13 H1 14 H2 14 H1 15 EBITDA (USDm) EBITDA (%) Avg Margin 0.0% Travel consolidated under one global provider 7

Outstanding Cash Generation H1 2015 NET DEBT MOVEMENTS OPERATING CASH FLOW / FREE CASH FLOW 12.0 10.0 8.0 6.0 4.0 2.0 - (2.0) (0.36) Opening net debt EBITDA Working capital Capex Dividends paid Others Closing net cash 2.18 20 15 10 5 0 (5) (10) (15) (20) Jun-10 Dec-10 Jun-11 Dec-11 Jun-12 Dec-12 Jun-13 Dec-13 Jun-14 Dec-14 Jun-15 Cash Generated from Operations Free Cash Flow Cash Flow 1H 2015 $m 1H 2014 $m EBITDA 7.9 12.5 Non-cash expenses 0.2 0.2 Operating profit before working capital changes 8.1 12.6 Working capital changes 2.2 (0.6) Cash generated from operations 10.3 12.0 Finance charges and tax payments (0.7) (1.2) Net cash generated from operating activities 9.6 10.8 Investing Activities Net cash used in investing activities (4.3) (10.7) Financing Activities Decrease in Loans (2.0) (1.1) Dividend paid (2.6) - Net Cash generated from financing activities (4.6) (1.1) Net increase (decrease) in cash 0.7 (0.9) Closing cash balance 15.2 11.4 Strong cash generation from operations, despite weaker revenue Operating cash flow margin of 26.5%, compared to 22.4% for the comparable period, an improvement of 18% Working capital inflow driven by receivables management & inventory reduction Cash generation allowed for maiden dividend, continued debt reduction & interim dividend Higher closing cash balance in line with improved operational cash generation & working capital release 8

Capital Expenditure Focus on Sustaining CAPITAL EXPENDITURE RIG REBUILDS US$m 30.0 Rig 67 25.0 20.0 14.3 14.1 15.0 10.0 5.0-7.4 1.0 12.7 6.2 12.4 15.9 1.7 2.6 FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 H1 2015 H1 Capex H2 Capex 2.9 10.7 3.4 Before After Reduced capital spend, purchasing one additional blast hole rig for the Geita Mine in Tanznaia (AngloGold Ashanti) Rig 70 Shift in focus to rig refurbishments, with 4 rigs completed over H1 2015 Totalof 9 planned refurbishments in 2015 Sustaining CAPEX of $5 to $7m Before After 9

Our Balance Sheet is Strong Balance Sheet 1H 2015 1H 2014 Change $m $m % Cash and cash equivalents 15.2 11.4 33.3 Investment 0.9 0 - Receivables 14.5 27.4 (47.1) Inventory 21.8 23.2 (6.0) Property, plant and equipment 52.7 62.1 (15.1) Taxation 1.4 2.0 (30.0) Total Assets 106.5 126.1 (15.5) Payables 6.3 12.2 (48.4) Borrowings 13.1 20.3 (35.5) Taxation 2.0 0.3 566.7 Total Liabilities 21.4 32.8 (34.8) Shareholder Equity 85.1 93.3 (8.8) Continued deleveraging strategy:» Net Debt to Equity decreased from 9.5% in June 2014 to net cash to equity of 2.6%» Net cash at June 30 2015 of $2.1mn Returns continue to be impacted by record low levels of rig utilisation» H1 2015 rig utilisation 34% (H1 2014: 45%) Refinanced banking facility in February 2015, reducing the facility size ($47m to $30m) & extending the tenure to January 2018 The company will continue to maintain a conservative approach to gearing with continued debt repayments in H2 50 GROSS DEBT vs NET DEBT/CASH TO EQUITY (%) 50% Net Asset Value per share (cents) 63.2 69.3 (8.8) 40 30 40% 30% Net Cash (Debt) ($m) 2.2 (8.9) (124.7) 20 20% Gearing (Net Debt to Equity in %) 0.0 9.5 (100.0) 10 10% 0 0% Return on Total Assets (%) * 0.4 (0.7) (157.1) Return on Invested Capital (%) * (1.1) (0.9) 22.2-10 H1 09 H2 09 H1 10 H2 10 H1 11 H2 11 H1 12 H2 12 H1 13 H2 13 H1 14 H2 14 H1 15 Total Debt Net debt/cash to Equity (%) -10% 10

Interim Dividend Declared Declared a maiden interim dividend of US 1.1cps Return excess to Shareholders through dividends Strong balance sheet Board Approved Policy» When determining the amount to be paid the Board will take into consideration the underlying profitability of the Company and aim to approve an annual dividend within the range of 25-50% of the Company s free cash flow (being operating cash flow less capital expenditure) Strong balance sheet and continued solid cash generation driving the dividend. We will continue our disciplined approach to capital management we remain committed to a strong balance sheet DIVIDEND TIMETABLE Investment August 25, 2015 September 3, 2015 September 4, 2015 October 9, 2015 H1 2015 Results release & dividend declaration Ex-dividend date Record date Payment date 11

Operations, Health and Safety & Management

The pathway forward in 2015 IMPROVE THE BUSINESS Managing Costs - Continued cost control, margins maintained Improve Operating Performance - Increased ARPOR STRENGTHEN THE BALANCE SHEET Capex Discipline - Substantial reduction in H1 Release Working Capital - Receivables & inventory management DELIVER GROWTH New Management Team - Transition to new CEO & CFO Continuous Improvement - Ongoing focus REBUILD UTILISATION Solid balance sheet with cash reserves Maintenance of existing fleet, ready for deployment Inventory available for work Competitive pricing 13

Rebuilding Utilisation: Enhanced Delivery Model Enhanced Delivery Model» Competitive pricing model while maintaining margin» Minimise delivery footprint» ProjectManagement approach across; - Logistics - Supply Chain - Drilling Operations - Finance» Lessons Learnt process» Implement, monitor and drive project specific KPI s Successful Implementation of New Model» New country mobilisation: Zambia to Botswana in 5 weeks» Out performed 3 incumbent competitors» Remaining drilling contractor on site Delivering new contracts, utilising existing assets» Cupric Canyon Capital (Botswana)» BHP Billiton (Peru)» IMX Resources (Tanzania)» Acacia Mining (Tanzania)» Liontown Resources (Tanzania) 14

Performance Driven Culture Mechanical Availability Quarterly Performance Reviews on major projects Participants include senior representatives of the client and Capital Drilling, along with Capital s senior management team Tracking performance against mutually agreed KPI s, such as:» Rig availabilities» Mechanical availabilities» Drilling performance» HSE performance» Down time Continuous improvement process for HSE & Operational performance Enhanced Contract Management at all levels Utilisation Standby Hours Down Hole Issues 15% Toolbox/Safety meeting 21% Weather 2% Waiting for equipment/consumables 5% Waiting for fuel/refueling 1% Waiting for water/refilling 13% Travel / Waiting for people 38% Decision/Drill Pads/Areas/Mark Up/Access 5% 15

Safety Performance KPI Milestone Improvements Significant safety achievements including:» Tanzania (Geita Project) achieved 8 years LTI free» Mauritania (Tasiast Project) achieved 4 years LTI free Renewed focus driving reduced incidents from H1 2014» Property damage: Down from 50 to 28» MTI reduced from 3 to 1 Strong Speak Up Culture Committed to ZERO Harm» Improved Environment reporting» Improved Hazard ID reporting Leadership Lead Initiatives:» Introduced Safety Risk Leadership Walks supporting employees to identify job hazards that can lead to significant injury or illness» Revised Golden Rules,TAKE 5, HAZARD ID and Vehicle Pre-start programs rolled out» Introduction of safety Icon to improve engagement on safety and make it fun Mr and Mrs Competent Drill. 16

Strategy and Outlook

Outlook Macro conditions remain challenging» Continued weakness in commodity markets» Miners remain committed to cost reductions & capital discipline Industry remains subject to overcapacity with a surplus of global rigs driving a very competitive pricing environment Tendering market offering limited opportunities, however Capital s new operating model for exploration & delineation contracts has shown promising early success Capital Drilling remains well positioned in a difficult environment» Stable long term production contracts» Streamlined cost structure & operating model» Conservative gearing w/- large available facility» Ample fleet capacity» Offering significant earnings leverage in an improved market 18

Appendices» Company Overview» Market» Corporate» Glossary

Quality Partners & Projects 100% 90% 80% 70% 13% 35% 6% 41% 14% 7% 4% 3% 2% 23% 30% 39% 41% 10% 40% QUALITY CLIENTS» Exposure to major and mid tier mining houses with strong balance sheets, quality assets and positive cash flows 60% 50% 53%» Majors contributed 50% of H1 2015 revenue 40% 30% 20% 10% 0% 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 52% 53% 73% 63% 58% 57% 50% 33% 2008 2009 2010 2011 2012 2013 2014 H1 2015 Majors Mid-Tiers Juniors 2% 5% 2% 6% 3% 5% 5% 13% 14% 7% 7% 24% 19% 38% 56% 54% 51% 66% 64% 70% 76% 57% 33% 33% 39% 22% 23% 6% 2008 2009 2010 2011 2012 2013 2014 H1 2015 Production Brownfields Greenfields Energy QUALITY ASSETS» Targeting low cost producers, long life assets and expansion opportunities» Working on top tier gold and copper assets including Tasiast (Kinross), Sukari (Centamin), Geita (AngloGold Ashanti), North Mara (Acacia)» History of increasing service offering as mines develop (development, grade control, blast hole, underground) DEVELOPMENT & PRODUCTION FOCUS» Continued high exposure to development (brownfield) and production drilling, contributing 95% of H1 2015 revenue» Provides higher relative stability and visibility to revenues as drilling activities supported by producing asset cash flows 20

Capital Drilling s Clients SERBIA» Dundee ARMENIA» Lydian EGYPT» Gippsland» Thani Dubai (AngloGold Ashanti) MAURITANIA PAKISTAN» Antofagasta» Barrick Gold» Redblack» Knight Piesold GHANA» Kinross ERITREA» Andiamo» Chalice Gold» Sunridge PNG & SOLOMONS» Allied Gold» Barrick Gold» Oil Search» St Barbara PERU DRC» Anvil» Tiger ETHIOPIA» BHP» Ethiopia Potash Current Operations H1 2015 CHILE» Antofasgasta» BHP» CMP» Glencore» MMG» Polar Star ZAMBIA» Albidon» Barrick Gold» Equinox» First Quantum» MMG» Omega BOTSWANA MOZAMBIQUE» Boabab» Riversdale» Rio TANZANIA» Barrick Gold» Cradle» Glencore» Mantra» MMG» Rift Valley Regional Offices Previous Registered Offices & Operations 21

Key Demand Drivers GOLD 1 COPPER 1 US$/oz 2,000 US$/tonne 12,000 1,600 10,000 1,200 800 8,000 6,000 4,000 400 2,000 0 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Gold Spot 12-Month Trailing Copper Spot 12-Month Trailing 1. Source: Bloomberg (as at 10 August 2015) US$bn 60.0 52.8 50.0 47.9 44.0 47.2 42.1 40.0 30.0 20.0 10.0 0.0 28.7 20.4 16.9 17.9 15.3 13.9 15.1 8.2 9.5 4.2 1.3 FY 00 FY 01 FY 02 FY 03 FY 04 FY 05 FY 06 FY 07 FY 08 FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 H1 15 *Source Dealogic Macro drivers remain highly challenging 22

Management & Board CHAIRMAN CHIEF EXECUTIVE OFFICER EXECUTIVE DIRECTOR Jamie Boyton Chairman» Over 15 years experience in finance industry» Co-founder of Capital Drilling» Previously Executive Director and Head of Asian Equity Syndication and Corporate Broking at Macquarie Bank (HK) and prior to which he was a director at ABN AMRO (HK) Mark Parsons CEO» Over 35 years experience in Mining and the oil & gas industry» Previous executive positions in BHPB, Imdex Limited and Halliburton Energy Services.» Extensive international experience Brian Rudd Business Development» 25 years experience in the mining industry in Africa and Australia» Co-founder of Capital Drilling» Previous experience includes 6 years as operations/general manager for Stanley Mining Services Tanzania (Layne Christensen) NON-EXECUTIVE DIRECTORS Tim Read Senior NED Audit Chair» Over 40 years experience in the natural resources sector» Ex President/CEO of Adastra» Ex Merrill Lynch Global Cohead of Mining Investment Banking» NED for several AIM/ASX/TSX mineral companies Alex Davidson NED HSE Chair» 30 years experience in mining» 16 years at Barrick Gold; Executive VP of Exploration and Corporate Development» Ex NED for Highland Gold, now Namakwa Diamonds & NED of Yamana Gold Craig Burton NED REMCO Chair» 15 years experience cofounding numerous development companies, with a focus on the resources, oil and gas, mining services and agribusiness sectors» Previously Executive Chairman and co-founder of Mirabela Nickel Ltd (ASX 200) Extensive industry experience, solid complement of skills 23

Corporate Snapshot CAPITAL STRUCTURE SHAREHOLDING BLOCKS Fully paid ordinary shares 134,603,681 Share price (as at 30 June 2015) USD0.45 Market capitalisation (undiluted) ^ USD 60.31m Free float 30% Cash (as at 30 June 2015) USD 15.20m Debt (as at 30 June 2015) *includes bank borrowings & O/D USD 13.07m Founding Shareholders 70% Enterprise Value USD 58.18m ^ Share options and unvested share grants issued 5.47m NET ASSET VALUE PER SHARE vs SHARE PRICE DIRECTORS AND SENIOR MANAGEMENT Jamie Boyton Chairman 1.80 Mark Parsons Chief Executive Officer 1.60 Brian Rudd Executive Director 1.40 Alex Davidson Non-Executive Director 1.20 Craig Burton Non-Executive Director 1.00 Tim Read Non-Executive Director 0.80 0.60 0.55 0.52 0.52 0.59 0.66 0.69 0.71 0.68 0.69 0.67 0.63 David Payne Chief Operating Officer 0.40 Jaco Brümmer Chief Financial Officer 0.20 Tony Woolfe Group Asset Manager 0.00 H1 10 H2 10 H1 11 H2 11 H1 12 H2 12 H1 13 H2 13 H1 14 H2 14 H1 15 Graham Almond Group Manager, HR & Risk NAV per share Share Price in USD Jodie North Group Manager, Production Drilling 24

Glossary The following words used in the presentation have the following meaning: ARPOR Average Revenue Per Operating Rig LTM Last Twelve Months Capital Expenditure Cash used on acquisition of property plant and equipment less proceeds on disposals of property plant and equipment Operating Cash flow Profit or loss after tax adjusted for non-cash items +/- the net change in working capital EBIT Earnings Before Interest and Taxes/Profit from operations Operating Cash flow Margin Cash generated from operations / Sales EBITDA Earnings Before Interest, Taxes, Depreciation/Profit from operations plus depreciation MTI Medical Treatment Injury EPS Earnings Per Share Net Debt Short Term and Long Term Debt including Bank Overdraft less Cash and Cash Equivalents Enterprise value Market capitalisation + Debt - Cash NPAT Net Profit After Tax/Profit for the period Free Cash Flow Operating cash flow (as defined above) less capital expenditure (Headline) Revenue Average fleet size x Utilisation x ARPOR Group, Company Capital drilling and its subsidiaries Return on capital employed (ROCE) LTM EBIT / (Average total assets Average current liabilities) KPI Key Performance Indicator Return on invested capital (ROIC) LTM NOPAT / Average invested capital HSE Health, Safety & Environmental Return on total assets (ROTA) LTM EBIT / Average total assets LTI Loss Time Injury Total assets Current assets plus non-current assets 25

Company Contact Details CAPITAL DRILLING LIMITED Jamie Boyton Chairman jamie.boyton@capdrill.com Mark Parsons Chief Executive Officer mark.parsons@capdrill.com UK BROKER DETAILS GMP Securities Europe LLP Stratton House 5 Stratton Street, London W1J 8LA Telephone: +44 (0) 207 647 2800 Richard Greenfield richard.greenfield@gmpeurope.com Mauritius 9 th Floor, The CORE Ébène CyberCity Mauritius Telephone: +230-464 3250 www.capdrill.com UK PUBLIC RELATIONS Buchanan 107 Cheapside, London EC2V 6DN Telephone: + 44 (0) 20 7466 5000 Bobby Morse bobbym@buchanan.uk.com 26