Annual General Meeting

Shareholder Presentation

12 June 2020

DisclaimerIMPORTANT NOTICE

• This document does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of Capital Drilling Ltd. (the “Company”), nor shall any part of it nor thefact of its distribution form part of or be relied on in connection with any contract or investment decision relating thereto, nor does it constitute a recommendation regarding the securities of the Company.

• This document is being supplied to you solely for your information. No reliance may be placed for any purposes whatsoever on the information or opinions contained in this document or on its completeness. No representation orwarranty, express or implied, is given by or on behalf of the Company or any of its directors, officers or employees or any other person as to the accuracy or completeness of the information or opinions contained in this document andno liability whatsoever is accepted by the Company or any of its members, directors, officers or employees nor any other person for any loss howsoever arising, directly or indirectly, from any use of such information or opinions orotherwise arising in connection therewith.

• This document and its contents are confidential and may not be reproduced, redistributed or passed on, directly or indirectly, to any other person or published, in whole or in part, for any purpose. This document is only addressed toand directed at persons in member states of the European Economic Area who are “qualified investors” within the meaning of Article 2(1)(e) of the Prospectus Directive (Directive 2003/71/EC) (“Qualified Investors”). In addition, in theUnited Kingdom, this document is being distributed only to, and is directed only at, Qualified Investors (i) who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services andMarkets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”) and Qualified Investors falling within Article 49(2)(a) to (d) of the Order, and (ii) to whom it may otherwise lawfully be communicated (all such personstogether being referred to as “relevant persons”). This document must not be acted on or relied on (i) in the United Kingdom, by persons who are not relevant persons, and (ii) in any member state of the European Economic Area otherthan the United Kingdom, by persons who are not Qualified Investors. Any investment or investment activity to which this document relates is available only to (i) in the United Kingdom, relevant persons, and (ii) in any member state ofthe European Economic Area other than the United Kingdom, Qualified Investors, and will be engaged in only with such persons.

• Neither this document nor any copy of it may be taken or transmitted into the United States of America, its territories or possessions or distributed, directly or indirectly, in the United States of America, its territories or possessions.Neither this document nor any copy of it may be taken or transmitted into Australia, Canada, Japan or the Republic of South Africa or to any securities analyst or other person in any of those jurisdictions. Any failure to comply with thisrestriction may constitute a violation of United States, Australian, Canadian, Japanese or South African securities law. The distribution of this document in other jurisdictions may be restricted by law and persons into whose possessionthis document comes should inform themselves about, and observe, any such restrictions.

• The securities mentioned herein have not been, and will not be, registered under the US Securities Act of 1933 (the “Securities Act”), or under the applicable securities laws of Canada, Australia, Japan or the Republic of South Africa, andmay not be offered or sold in the United States (as such term is defined in Regulation S under the Securities Act) unless they are registered under the Securities Act or pursuant to an exemption from, or in a transaction not subject to, theregistration requirements of the Securities Act and, subject to certain exceptions, may not be offered or sold within Canada, Australia, Japan or the Republic of South Africa or to any national, resident or citizen of Canada, Australia,Japan or the Republic of South Africa. No public offer of securities in the Company is being made in the United States, Canada, Australia, Japan or the Republic of South Africa.

• Certain statements, beliefs and opinions in this document are forward-looking, which reflect the Company’s or, as appropriate, the Company’s directors’ current expectations and projections about future events. By their nature,forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks,uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. Forward-looking statements contained in this document regarding past trends or activities should not betaken as a representation that such trends or activities will continue in the future. The Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, futureevents or otherwise. You should not place undue reliance on forward-looking statements, which speak only as of the date of this document.

• By attending the presentation to which this document relates or by accepting this document you will be taken to have represented, warranted and undertaken that: (i) you are a relevant person (as defined above); (ii) you have read andagree to comply with the contents of this notice; and (iii) you will use the information in this document solely for evaluating your possible interest in the Company and for no other purpose.

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Capital Drilling provides full service mining and drilling solutions to customers within the minerals industry, focussing on the African markets

• Mining services company delivering:- Exploration and Delineation Drilling

- Underground Drilling

- Production Drilling

- Load and Haul Services

- Maintenance Services

- Geochemical Analysis

• 15-year history drilling in Africa, commenced operations in 2005

• Listed on LSE in June 2010

• Operations across eight African and one Middle Eastern countries

• History of strong financial performance and investor returns

Introducing Capital Drilling

MAJOR & MID-TIER CLIENTS

96%Revenue derived primarily from

Tier 1 and Mid-Tier clients

PRODUCTION & UNDERGROUND MINING

77%Less exposed to fluctuation in the

mining cycle

REVENUE BY CUSTOMER REVENUE BY MINING PHASEMAJOR CLIENTS

Expand range of services Increase recurring mine-site based revenue

West African business growth

STRATEGIC PRIORITIES

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EXPLORATION DRILLING SERVICES

MINE SITEDRILLING SERVICES

UNDERGROUNDDRILLING SERVICES

BLAST HOLEDRILLING SERVICES

ANCILLARYSERVICES

Exploration Drilling Delineation Programs Underground Core DrillingBlast Hole Drilling Mineral Analytic Services

Directional Software Grade Control Drilling Shot Loading and Firing Maintenance ServicesUnderground RC Drilling

MINE SITE SERVICES

Load and Haul Services

Equipment Hire

Our Services

FULL RANGE OF SERVICES ACROSS THE MINING CYCLE

Q1 2020 Trading Update

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Q1 2020 Q1 2019 Q4 2019 % change from

Q1 2019

% change from

Q4 2020

Revenue (US$m) 32.5 27.0 30.7 20.4 5.9

ARPOR*(US$) 170,000 183,000 167,000 -7.1 1.8

Average utilised rigs 56 47 55 19.1 1.8

Fleet Utilisation (%) 57 52 59 9.6 -3.4

Average Fleet 98 91 93 7.7 5.4

Closing fleet size 99 91 95 8.8 4.2

• Previously released on April 16 2020

• Q1 2020 revenue of US$32.5 million, up 20.4% on Q1 2019 and 5.4% on Q4 2019

• 93% of Group revenue derived from services provided to mine-sites

• 32% of revenue attributed to West African region, a 61% increase on Q1 2019 (20%)

• Strong growth in non-drilling revenue, contributing 12% of total revenue, comparedwith 4% in Q1 2019 (MSALABS, Well Force and Capital Mining)

• Drilling ARPOR increased by 1.8% to $170,000, Q4 2019 ($167,000)

• Increase in fleet utilisation to 57% (Q1 2019 52%), despite increase in average fleetto 98 (Q1 2019: 91 rigs)

• Declared a second interim dividend of US0.7cps for the 2019 financial year in lieu offinal dividend, paid 4 May 2020

* Average monthly revenue per operating rig

Q2 2020 Trading Update and Outlook

• Q2 20 revenue expected to be broadly consistent with Q1 20, continuing the strong revenue growth on 2019

• Operations continue to perform strongly with no Capital sites being meaningfully impacted by COVID-19, with the impact to operations limited to;

- The movement of people, particularly international travel- Increased RDO’s (Rostered Days Off) for fatigue management - Slower movement of goods across the supply chain

• Experienced delays in the resumption of greenfield exploration drilling, primarily due to travel restrictions

Q2 2020 TRADING AND COVID-19 UPDATE

OUTLOOK

• Current gold prices providing a highly supportive environment for increased activity levels in exploration and delineation drilling

• Financing activities have increased in May 2020 providing solid balance sheet support for junior and intermediate explorers

• Increasing demand from existing clients, reflecting improved operating cash flows and increased operating budgets

• Improved tendering pipeline pointing to strong demand growth which we expect will materialise in H2 2020, following the easing of travel restrictions and end of the wet season in West Africa

Resolutions

Resolutions

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ORDINARY RESOLUTIONS

1 To receive and adopt the Directors’ Report and Accounts for the year ended 31 December2019

2 To receive and approve the Directors’Remuneration Report for the yearended 31 December2019

3 To re-elect as DirectorAlexander Davidson

4 To re-elect as Director David Abery

5 To re-elect as Director Michael Rawlinson

6 To re-elect as Director Jamie Boyton

7 To re-elect as Director Brian Rudd

8 To re-appoint BDO LLP as the Company’s auditor

9 To authorise the Directors to agree the auditor’s remuneration

10 To approve that there will be no final dividend for the year, in light of the two interim dividends

11THAT the Directors be generally and unconditionally authorised to allot and issue Equity Securities up to an aggregate nominal amount of US$4,566.03

12 To approve that the name of the Company be changed to Capital Limited

Resolutions

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SPECIAL RESOLUTIONS

13THAT the Directors be generally empowered to allot and issue Equity Securities for cash up to an aggregate nominal amount of US$684.90

14THAT the Company be generally and unconditionally authorised to make market purchasesof Common Shares up to amaximumaggregate number of 13,698,090

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CAPITAL DRILLING LIMITEDJamie BoytonExecutive Chairman

André KoekemoerChief Financial Officer

Mauritius9th Floor, The COREÉbène CyberCityMauritiusTelephone: +230 464 3250www.capdrill.com

UK BROKERSBerenberg (Joh. Berenberg, Gossler & Co. KG)60 Threadneedle Street, London EC2R 8HPTelephone: +44 20 3207 7800Matthew Armittmatthew.armitt@berenberg.com

Tamesis Partners LLP 125 Old Broad Street, London EC2N 1 ARTelephone: +44 20 3882 2868Richard Greenfieldrgreenfield@tamesispartners.com

UK PUBLIC RELATIONSBuchanan107 Cheapside, London EC2V 6DNTelephone: + 44 20 7466 5000 Bobby Morse capitaldrilling@buchanan.uk.com

Company Contact Details