Manufacturer of specialized, large diameter

HDPE pressure pipe with Reeling and Stringing

capabilities

March 2020

Marcello Russo, CEO and Founder

Tubi Limited

Investor

Presentation

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CORPORATE SNAP SHOT

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2BETubi Limited

$0.1209 March 2020

Official listing date 14/06/2019

Internet address www.tubigroup.com

Registered office 2 Hopetoun Street, Paddington, NSW, Australia 2021

Share registry Boardroom Pty Limited

Level 12, 225 George Street, Sydney NSW, Australia, 2000

Directors / Senior Management

Mr Simon Bird Non-Executive Director, Chairman

Mr Marcello Russo Chief Executive Officer, Executive Director

Mr Brent Emmett Non-Executive Director

Mr Anthony Willsallen Non-Executive Director

Mr Ariel Sivikofsky Chief Financial Officer, and Company Secretary

DAILY DAILY VOLUME

-0.005 -4% 38,533

MARKET CAP BID OFFER

30.39M 0.100 0.130

# SHARES 52 WEEK

243.14M LOW 0.078 HIGH 0.410

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CORPORATE SNAP SHOT (CONTINUED)

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Mobile

extrusion plants

located at

demand

Significant

market potential

in North

America

Potential for

base sites

Long length

pipe

manufacturing

exploiting

production and

transport

logistic

efficiencies

Broad IP

protection with

proven licensed

patent

and extensive

manufacturing

experiencePursue

partnerships to

align

technology with

integrated

industry

participants

Significant

market potential

in Reeling /

Stringing

technology, and

larger diameter

pipe

Developing pipe

in gas, M&I,

and mining.

Recycling pipe

for major mining

clients.

Current

Focus

Medium-

Term

Focus

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INVESTMENT HIGHLIGHTS

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✓ Globally unique mobile solution to HDPE pipe manufacturing

✓ Long length, large diameter, and reeling / stringing capability

✓ Significant annual US market for TUBI products and technology

✓ Broad international IP protection with proven Patent

Compelling

Market Metrics

For TUBI Pipe

✓ Proven commercial sales and project completions in NZ and US

✓ Building large customer / contract relationships

✓ Tubi owned sales team

✓ No other competitors known to be conducting this business as a commercial venture

✓ Over +100 years of Senior Management pipe manufacturing experience = the world leader in mobile

plastic pipe manufacturing.

Strong

Competitive

Position

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INVESTMENT HIGHLIGHTS (CONTINUED)

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Substantial

Plant &

Product

Development

Pipeline

3

✓ CEO (Founder) Marcello Russo has had +25 years of experience in pipe strategy, innovation and

manufacture, which is reflected in Tubi's focus on future growth and global industry development.

✓ COO Harold “Wes” Long has +30 years in PE pipe sales management, marketing, manufacturing, and

technical support.

✓ CFO Ariel Sivikofsky has +20 years’ industry experience in ASX Listed and unlisted in financial services

and accounting locally and internationally.

Proven

Management

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✓ Production capabilities:

✓ Mobile plant located at site of demand – MOBILE, FLEXIBLE, ADAPTIVE, NIMBLE

✓ Plastic solutions across multiple industries: Oil and gas, irrigation, mining

✓ Significant annual North American and worldwide market size

✓ Significant product development pipeline:

✓ Scale of manufacturing plants / product capabilities

✓ Longer length, larger diameter – expands the market potential

✓ Reeling and Stringing capability – expands the market potential

✓ HDPE pipe recycling opportunities / savings

✓ Exclusive mobile plant technology platform:

✓ Protected by exclusively licensed patents

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TUBI’S COMPARATIVE ADVANTAGES

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Mobile Plants – Locate on demand

Long Length – Lower cost, faster installation

Tubi Sales team – extensive pipeline of client registered opportunities across North America. Over 15 projects with first rights to project (with contractors/distributors) to start in the next 6mnths.

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INVESTMENT STRATEGY – 5 KEY DRIVERS

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Moving from 1 plant in the Permian Basin to 3 plants across the US - unit cost of production benefit of 40% over 14,000 tonnes annum.

Moving from exclusive and restricted distribution model to own sales team. Different sales to market models.

Utilising local, senior management in sales and production coupled with specialised project management.

New opportunities and customer leads well in excess of capability to respond. The flexibility / nimbleness: speed to market, ability to exploit base sites = best spread possible

Efficient production of pipe – number of hours, number of days per month, number of Kgs per day

Economies of scale – expenses across sites. Base Sites – e.g. 2 plants in Florida

Spread price – revenue vs. cost of raw material. Depending on industry, market (distributor/contractor), demand in region, product mix (pipe diameter).

Cost savings – Base Sites – Local employment, number of staff on site, access to on-site power, water, rail.

Target clients – large, extensive contracts (in gas, M&I), infrastructure companies.

Resulting…

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PROVEN TECHNOLOGY & CAPABILITY

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Technology and capability adopted by:

Produced 1,480 tonnes in NZ - FY2017

Produced 4,940 tonnes in NZ and USA - FY2018

Produced 8,370 tonnes in USA - FY2019

– acquired a plant under license

– purchased 175km, approx. 5,500 tonnes of pipe

– purchased 10,900 tonnes pipe

– purchased manufactured pipe

– initial order of 2,700 tonnes of pipe

Permian Basin oil & gas Co.

Florida distributor

Florida mining companyFor

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PERMIAN BASIN DEMAND VS NEW GEOGRAPHIC OPPORTUNITIES

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Demand in Permain Basin fell during the December half 2019:

• Unable to relocate due to contractual obligation• Distributor orders not forthcoming• Tubi had not developed sales capabilities• Pricing in Permain Basin generally 12.5-15% below other

geographies in USA.

Tubi identified new customer market opportunities:

• Establishing base sites –• Freight advantage of locating in geographies with no local

competitors – within 500 miles• Tubi has developed own sales capability and identified new

customer market opportunities • Customers who value long lengths• Customers seeking productivity advantages of unique solutions

for pipe relining, mining applications, underground solutions.For

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HISTORICAL PERFORMANCE AND OUTLOOK

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FY 2022 FY 2021 FY 2020 FY 2019 FY 2018 FY 2017

'000 '000 '000 '000 '000 '000

VOLUME (Kgs) approx. 22,000 22,000 6,800 8,371 4,937 1,483

REVENUE ($) 31,564 17,381 4,662

EBIT ($) 2,114 1,057 453

EBIT Margin (%) 6.7% 6.1% 9.7%

Forecasts Actual

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BALANCE SHEET – STRONG FOUNDATION

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* Note: In FY19 the Company undertook a 1:30 share conversion where every one (1) share held in the Company was converted to thirty (30) shares held in the Company. The NTA per share for FY18 has been calculated on the assumption that the share split of 1:30 share in FY19 was also in effect in FY18 to allow comparability.

CONSOLIDATED BALANCE SHEET HY 2020 FY 2019 FY 2018

$ '000 $ '000 $ '000

ASSETS

CURRENT ASSETS 5,651 12,845 5,705

FIXED ASSETS 19,467 17,317 8,833

TOTAL ASSETS 25,118 30,162 14,538

LIABILITIES

CURRENT LIABILITIES 3,720 6,567 6,033

NON CURRENT LIABILITIES 1,772 1,967 1,718

TOTAL LIABILITIES 5,492 8,534 7,751

NET ASSETS 19,626 21,628 6,787

NTA / SHARE ($) 0.08 0.09 0.04*

GEARING RATIO n/a 0.01 0.42

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• Location:

• Close to customers who value long lengths

• In geographies with limited local competition / base sites:

- Florida – NOW - long length customer

• Differentiate:

• Supply large projects where Tubi offers customer

differentiation capability and material value to installation process / Technology

• Opens opportunities across the United States and North America

STRATEGY

Texas

Florida

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BOARD & MANAGEMENT

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MARCELLO RUSSO, Executive Director, Chief Executive Officer

Marcello Russo is the Founder and executive Director of Tubi, having steered the Company since its inception in

2009. Marcello has had over 25 years of experience in pipe strategy, innovation and manufacture, which is

reflected in Tubi's focus on future growth and global industry development.

HAROLD “Wes” LONG, Chief Operating Officer

Wes worked +30 years for Chevron Phillips Chemical Company in polyethylene (PE) pipe sales management,

marketing, manufacturing, and technical support.

Wes is an expert in applications for plastic piping systems and global resin supplies. Wes has held many

positions throughout his career including Plant Engineer, Production Superintendent, Technical Projects Director,

Business Development Director, and worldwide Sales Manager.

Wes is currently Chair of the Plastics Pipe Institute (PPI) Energy Piping Systems Division. He is also a member

of the American Water Works Association, the American Society of Civil Engineers, the American Society of

Mechanical Engineers, the American Gas Association, the American Petroleum Institute’s Technical

Subcommittees, and ASTM International.

ARIEL SIVIKOFSKY, Chief Financial Officer & Company Secretary

Mr. Sivikofsky has over 20 years’ industry experience in the financial services and accounting both in Australia

and Europe. Mr. Sivikofsky is a seasoned finance executive, having been the Chief Financial Officer and

Company Secretary at Macquarie Media Limited (ASX:MML) and Investor First Limited (now HUB24 Limited), an

ASX-listed financial services company (ASX:INQ (now HUB)).

Mr. Sivikofsky is a Chartered Accountant (FCA), a graduate member of the Australian Institute of Company

Directors (GAICD) and a Graduate Diploma in Applied Finance & Investment from FINSIA.

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BOARD & MANAGEMENT

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KOEN FEENSTRA, Engineer Manager

DAVID KINSELLA, Director of Operations

David has over 18 years of experience in directing large scale infrastructure works, rail works, major earthworks

and HDPE pipeline construction within the mining, gas and civil infrastructure industries.

David has extensive experience as a Director operations, Project Manager and President within the pipe industry

with Murphy Pipeline.

David is an accredited Civil Engineer and qualified poly welder and inspector. David has a Bachelor of

Engineering in Civil Engineering from the University of Abertay Dundee, Scotland.

Koen engineered and commissioned industrial machinery for over nine years in Europe. Koen was responsible

for multiple projects at Damen shipyards. He was responsible for the engineering and project management of

large metal structures and machinery.

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BOARD & MANAGEMENT

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Simon has over 30 years of global public company experience in both senior executive and board roles.

Current directorships include Mount Gibson Iron (ASX: MGX) and Pacific American Holdings (ASX: PAK).

Recent directorships include CPA Australia and several private companies. His executive career included CEO

roles with ASX listed resources companies and CFO roles at Stockland Limited, GrainCorp Limited, Wizard

Mortgage Corporation and BNP Funds Management. Simon is a Fellow of the Australian Institute of Company

Directors and Fellow of CPA Australia.

SIMON BIRD, Non-Executive Director, Chairman

ANTHONY “Tony” WILLSALLEN, Non-Executive Director

Tony Willsallen has 45 years in contracting, farming and heavy equipment. He managed family agricultural

enterprises for 35 years before retiring in 2010.

He is currently Managing Director of a private company involved in quarrying and waste services since 1987

which produces and supplies quarry products to large infrastructure projects in Southern New South Wales.

BRENT EMMETT, Non-Executive Director

Brent began work as an explorationist in Australia, Papua New Guinea and New Zealand for Esso (now

ExxonMobil) and then Elf Aquintaine. He joined Ampolex as Exploration Manager in 1983 and filled general

management roles in North and South America International and Business Development, From 1997 until 2001

Brent was Managing Director - Oil & Gas Advisory with the investment banking firm of CIBC World Markets.

Brent was the Chief Executive Officer and Managing Director of Horizon Oil for 17 years. He retired as CEO of

Horizon Oil in June 2018 and is currently an advisor to the board. He remains actively involved in the oil business

as a senior advisor to industry participants.

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Tubi production plant – Canterbury Plain, NZ Specialized long length HDPE pressure pipe Reeling & Stringing technology for large diameter pipe

SUMMARY – TUBI’S DIFFERENTIATORS

• Patent protected technology – Mobility, flexibility, adaptiveness, nimble • Core teams – Manufacturing, Sales, Project building• Many markets – Oil and Gas, mining, irrigation• Base Sites – ability to exploit under-serviced regions• Large diameter extrusion plants• Market potential in Reeling, Stringing, and Recycling

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The information contained in this document is for information purposes only, is not complete and does not constitute financial product advice, legal advice, an offer to sell, or a

solicitation of an offer to purchase, any securities. No person should rely on any information in this document, and investors should rely exclusively on information provided by

the company to the public market, in making any relevant investment decisions.

This document contains "forward-looking statements" – that is, statements related to future, not past, events. In this context, forward-looking statements often address Tubi's

expected future business and financial performance and financial condition, and often contain words such as "expect," "intend," "plan," "believe," "will," "would," or "target."

Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about revenues, growth, pricing, size of market, use

of proceeds and capital allocation. Particular uncertainties that could cause Tubi’s actual results to be materially different than those expressed in its forward-looking

statements include: their product pipeline, pricing and reimbursement of/for products, achievement of future milestones and business plans, customer acquisition, key-person

risk, ability to compete, changes in law, economic and financial conditions, availability and cost of funding, the impact of regulation and regulatory, investigative and legal

proceedings and legal compliance risks, press coverage, and other factors. These or other uncertainties may cause our actual future results to be materially different than

those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.

Investors in Tubi’s securities should be prepared to bear the economic risk of their investment for an indefinite period of time. Investment in Tubi is speculative and illiquid, and

entails a high degree of risk. Tubi’s securities are suitable only for persons who have substantial financial resources and have no need for liquidity in that investment. No one

should invest in Tubi’s securities who is not prepared to lose his entire investment.

Investors should not construe the contents of this document or any communication, whether written or oral, from Tubi, or their respective principals, members, management,

employees, directors, shareholders, or agents, as legal, tax, accounting or other expert advice. Each investor should consult his own counsel, accountant, and other

professional advisors as to legal, tax, accounting, and related matters concerning his or her investment and its suitability for him. This document was not intended or written to

be used, and cannot be used, by any taxpayer for the purpose of avoiding penalties that may be imposed on the taxpayer under U.S. federal tax laws.

No person (other than those directors or officers of Tubi to whom requests are directed for additional information concerning Tubi) is authorized to give any information or

make any representations (whether oral or written) in connection with Tubi or Tubi’s securities.

This document is subject to modification and amendment from time to time. The delivery of this document shall not, under any circumstances, create any implication that there

has been no change in the affairs of Tubi since the date hereof, or that the information herein is correct as of any date subsequent to the date hereof.

To the full extent permitted by law, none of Tubi or any of their respective shareholders or members, or any shareholders, members, partners, directors, managers, officers,

employees, advisers, counsel, agents or other affiliates of Tubi or any of their respective shareholders or members, or any party involved in creating, producing, or delivering

this document, shall be liable for any direct, incidental, consequential, indirect, punitive or other damages that result, or arise, from or in connection with, or are related to the

use of, or the inability to use, this document or the content thereof.

Copyright Tubi Limited. 2020. All rights reserved. This document is intended solely for the addressee. Except as otherwise permitted by Tubi, no materials from this document

may be copied, reproduced, republished, uploaded, posted, transmitted, modified or distributed in any way.

IMPORTANT CAUTIONARY NOTE

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END

This investor presentation has been approved for release to the market by the Board of Tubi Limited.

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