Tungsten Corporation PLC 2017 Annual General Meeting Richard Hurwitz, Chief Executive Officer 15 September 2017 © Copyright Tungsten Corporation plc 2017
Diagnosing Tungsten Corporation’s Situation Autumn 2015 More Offense More Defense Start-up Tungsten Network Finance Tungsten Analytics Turnaround AP Automation More Doing Realignment Sustain success More Learning © Copyright Tungsten Corporation plc 2017
Today, Assessment of Tungsten Corporation Filled skill gaps in leadership team;, Built coordinated management Clarity of purpose and performance objectives Transparent, inclusive, and caring organizational structure People End to end ownership across the business Effective financial and operational control Pay for delivery of performance; Objectives flows down Processes Product responsive with three new initiatives launched Collaboration hub, with remaining infrastructure challenges identified Change implemented to accelerate slow legacy growth rate Multiple trade finance solutions in reinvigorated and focused TNF Product Buyers strongly subscribe to digital adoption;, Rising automation Increase in aided brand awareness through multiple improvements Suppliers have become primary customers for the first time Image Stable shareholder base – cautious valuation pending further delivery of objectives Recapitalised balance sheet – path to positive operating cash flow visible Corporate development focused on profitable growth and shareholder value TC Plc Share © Copyright Tungsten Corporation plc 2017
Turning Tungsten into a Growth Company Value Contribution Tungsten Corporation Predictive Profitable Proactive Stabilize Distressed Time © Copyright Tungsten Corporation plc 2017
Positioning Tungsten for Profitable Growth Committed campaigns Price to value Monetising the large pool Coordinated partnerships A/R billing Focused on deeper customer engagement Collaboration hub Digital experience and tools Improved UX / UI Revamped portal Trade financing solutions Multiple funders Sold Tungsten Bank Restarted financing effort Digital automation on our own account Procurement and T&E policies Vendor reduction and management Cleaned-up disputes and onerous contracts Strengthened balance sheet Contained costs Addressing slow organic growth rate Defensive protection Product responsive New core processing engine Hybrid architecture across operational environment Database architecture Transition technological infrastructure © Copyright Tungsten Corporation plc 2017
Elements driving faster growth More revenue opportunities Self reinforcing interactions Superior partner conversations © Copyright Tungsten Corporation plc 2017
Q1-FY18 highlights Revenue of £8.3million; 12% y-o-y growth 3 new Buyer contracts Buyer renewals continue at favourable rate increases Partnership with Tech Mahindra to push automation in new markets Mandates for first three receivables financing contracts New core processing system in parallel On track to delivering FY18 trading targets © Copyright Tungsten Corporation plc 2017