Investor Presentaiton
COVID-19 Update
Drilling activity in Canada has returned to pre-pandemic levels
FORAGE
ORBIT
GARANT
DRILLING
Operations in Ontario and Quebec have continued without significant disruption during calendar 2021 amid provincial lockdown orders
Drilling activity in West Africa has increased significantly in recent months, while activity in Chile remains below pre-
pandemic levels
Planning to expand drill fleet in West Africa to accommodate increased demand
Seeing increased opportunities in Chile, and scheduled to commence work on a new project in the country during Q3 2021
Precautionary health and safety measures implemented across OGD's operations
Implemented cost reduction measures
Reduced capital expenditures and inventory purchases, while implementing a program to progressively reduce overall inventory levels
。 Postponed non-essential expenses
o Temporary 15% reduction in renumeration for senior management team and directors
Continuing to manage variable cost structure and cash to support a reduced level of operations in certain regions, while
maintaining the flexibility required to adapt to any increase in COVID-19 related restrictions, or to resume more
normalized overall operations
Recorded a benefit of $3.6 million related to the Canada Emergency Wage Subsidy program during Q4 2020, a benefit of
$2.6 million during Q1 2021, and a smaller benefit of $0.2 million in Q2 2021
Increased financial flexibility through amended financing agreements with lenders, $1.7 million of loans secured by
Chilean subsidiary in May 2020, and a $5.7 million reduction in debt and lease liabilities in Q2 2021
Orbit Garant considers the health & safety of its personnel and the communities
in which it operates to be a top priority
INVESTOR PRESENTATION - MARCH 2021
20View entire presentation