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Corporate Presentation
Business Overview
January 2021
THIS DOCUMENT IS PRIVATE AND CONFIDENTIAL, CONTAINS SENSITIVE BUSINESS INFORMATION OF ABAXX TECHNOLOGIES INC. (“Abaxx” or the “Company”) AND IS
NOT FOR PUBLIC DISTRIBUTION. By your acceptance of this document you acknowledge and agree that this document has been prepared for informational purposes only, is
provided personally to you, may not be copied, reproduced or made available to any person without Abaxx’s consent, and must be returned promptly upon the request of Abaxx. It
contains general information about aspects of the business of Abaxx, and is not, and should not be construed as, an advertisement or public or private offering of securities of Abaxx.
This document contains summary information about Abaxx, does not purport to be complete, and no representations or warranties about such information are made by Abaxx. By
accepting this document you agree to keep its contents strictly confidential, not to copy any portion of this document and to return it to Abaxx promptly upon its request.
This document is not, and under no circumstances is to be construed as, a prospectus, an advertisement or a public offering of these securities in Singapore, Canada or the United
States. No securities commission or similar authority in Singapore, Canada, the United States or elsewhere has in any way passed upon the merits of the securities offered hereunder,
and any representation to the contrary is an offence. No person is authorized to give any information or to make any representation not contained in this document and, if given or
made, such representation must not be relied upon. Prospective investors are urged to consult their professional advisors and to carefully consider the risks and challenges typically
encountered by companies that are developing new products and entering new and untested markets.
FORWARD-LOOKING INFORMATION
This document contains forward-looking information within the meaning of applicable Singapore, Canadian securities laws and the United States Private Securities legislation. This
forward-looking information includes, or may be based upon, estimates, forecasts, and statements as to management’s expectations with respect to, among other things, demand for
and marketability of the Company’s products, prevailing regulations, the Company’s future growth plans, the timing and scale of future business plans, results of operations,
expected use of proceeds of the offering and business prospects and opportunities. Wherever possible, words such as “anticipate”, “believe”, “expect”, “intend”, “may”, “would”, “could”,
“estimate”, “forecast”, and similar expressions have been used to identify such forward-looking information. Forward-looking information is based on the opinions and estimates of
management at the date the information is given and on information available to management at such time. Forward-looking statements are provided to assist external stakeholders
in understanding management's expectations and plan relating to the future as of the date of this document and may not be appropriate for other purposes. Forward-looking
information involves significant risks, uncertainties, assumptions and other factors that could cause actual results, performance or achievements to differ materially from the results
discussed or implied in the forward-looking information. These factors include, among other things, ability to continue as a going concern, the highly speculative nature of an
investment in securities of the Company, no history of revenues or profits, no assurance of commercial success of the Company’s products, changes in market demand for the
Company’s products, the success and ability of investee companies to execute on business plans, requirements for additional financing, protection of intellectual property rights,
competition, potential infringements of intellectual property rights of others, fluctuations in input costs, reliance on key personnel, technological change, blockchain regulation,
permits and licenses, and conflicts of interest, and should be considered carefully. Prospective investors should not place undue reliance on any forward-looking information.
Although the forward-looking information contained in this document is based upon what management believes, or believed at the time, to be reasonable assumptions, the Company
cannot assure subscribers that actual results will be consistent with such forward-looking information as there may be other factors that cause results not to be as anticipated,
estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The
Company does not undertake to and assumes no obligation to update or revise any such forward-looking information to reflect new events or circumstances, except as may be
required by law.
OBLIGATORY CAUTIONARY STATEMENT
2
January2021
Quick Summary - Smarter Markets: price benchmarks + tech + ESG
3
January2021
Abaxx is a full-stack financial technology company developing a regulated commodity futures exchange in
Singapore, and new software protocols and applications to enhance trust in electronic markets
Our key mission is to improve price signals in markets for the energy transition. We solve a global problem of
how natural resource commodities can be graded and traded based on their environmental, social, and
governance (ESG) externalities and incentives.
Key Activities:
● New benchmark contracts for global energy and precious metals, developed in partnership with
respective industry market players
● First Regulatory Approval in Principle Achieved September 2020
(MAS, Singapore: RMO), ACH in progress for 2Q-2021 goal
● Exchange technology completed in partnership with Nasdaq in 2019
● Currently negotiating Founding Member Incentive Agreements; Targeting Summer-2021 Launch
● Executive Management - Former NYMEX/CME, Goldman Sachs, SMX/ICE
● ESG ID: a new market data platform designed to enhance ESG pricing discovery
● 10+ patent applications for commodity market electronic systems, digital identity and digital IP
Abaxx’s mission statement and business structure is summarized in our communications phrase,
SmarterMarkets, the 3 dimensions of which are:
Mission and Commercial Segments
Market Structure and Trusted Price Discovery
Abaxx Exchange:
• Energy (LNG to start) and metals (Gold to start)
Technology
Abaxx Tech: ID++ Protocol
• Chat, sign, drive, vault
Environmental, Social and Governance
A trusted global scorekeeper, not player or referee
• Measurement, Verification, Reporting (MVR)
4
January2021
Price to 2021E Earning by Sector(1)
● Near-term focus is on the Abaxx Exchange
● Exchanges & Marketplaces are some of the
most highly valued sectors in finance; from
traditional equities and derivatives
exchanges, to software-technology enabled
marketplaces (Ex. Google, Uber & AirBnB)
● Exchanges trade at a premium to other
types of financial institutions due to: higher
fee-based and recurring revenues, less
cyclicality and oligopolistic market
dynamics with high entry barriers
● Abaxx’s ultimate model will blend aspects of
other highly-valued sectors including
Market Data Providers, Distributed Ledger
Technologies and Work Automation cos.
companies
Market Segmentation
Source: CapIQ, Company disclosures. Market data as of December 15, 2020.
Price to Earnings ratio is median of comparable company set. Median P/E ratio for Core Market Infrastructure includes all exchanges (cash equity, options, futures, commodities and other derivatives). 5
January2021
Immediate Focus:
Liquified Natural Gas and a changing global energy trade that
demands carbon reduction and offsets.
Near Term ESG Opportunity:
We are designing ESG compliant products that
are fundamentally differentiated from
competitors through the use of our technology
console.
Our
Goals
Abaxx Exchange Section
We are a new Commodity Futures Exchange facilitating a more efficient means
for price discovery and price transparency.
6
January2021
2003 - 2020:
Internet-based trading changes the
landscape. Technology & new equity
structures shift from traditional floor
trading such as NYMEX to electronic
platforms (ICE & Clearport).
The Opportunity:
Commodity and Exchange Consolidation Timeline
2003
Electronic-Based Exchanges:
Fewer Exchanges
with more product offerings = more
trading volume per Exchange. Still
regionally restricted and high
cross-region friction.
2020
Globally-Minded Platforms:
Abaxx
With products and services that
bring global operational efficiency
and transparency to the cost/value
of implementing sustainable
practices.
2020 onwards:
New technology in digital
transformation, ESG, and
new tools for risk
management to change
the landscape again.
1864
Traditional Exchanges:
Several Exchange
with specialized product
offerings = less trading
volume per Exchange.
GROWTH CONSOLIDATION OPPORTUNITY
7
January2021
Trading revenues in Energy & Metals derivatives
Significant revenue potential in other Energy & Metal products
& other new benchmarks(2)
Massive value transfers in global commodity trading
Further capture of market share across the spectrum of
commodity trading and ancillary businesses(3)
Long-term LNG annual revenue
Large opportunity in LNG trading which is in nascent
stages(1)
Source: CapIQ, company disclosures and Abaxx exchange industry research. Market data as of December 15, 2020.
LNG Market revenue calculated based on assumptions: Production of 10,000 lots/day x Trading (Notional) of 50x = 500,000 trades/day. Daily revenue of ~US$3-5mm/day. .
Estimate of revenue attributable to Energy and Metal trading revenues from Core Market Infrastructure exchanges (CME, ICE, HKEK (LME), SGX, Deutsche Börse (EEX) & Nasdaq). Full-year
revenue figures per FY19.
Based on 2019 notional value of Energy & Metals trading from top 10 exchanges globally (per broker on Hong Kong Exchange (HKEK) from JP Morgan, China Merchant Securities, UBS and
HSBC).
Large Market Opportunity in LNG & Other Commodity Markets
LNG is Abaxx’s Entryway into Global Commodity Markets
~$500mm
Medium-term LNG derivative TAM
~$4.0Bn
Trading revenues in major Energy
and Metal derivative markets
~$70-80T
Notional value of trading in global
Energy & Metal markets
8
January2021
9
January2021
Why Singapore
● Singapore is the hub of the Asian energy transition
● Excellent regulatory and governance environment
● Has usurped many traditional European and Asian
financial centers as the defacto center of commodity
finance
● Singapore enthusiastically supportive of Abaxx’s
business segment potential
• The Abaxx technology captures and disseminates transparent transaction
information, enabling traders to bring more certainty and to more easily verify
criteria supporting all aspects of ESG transactions.
• Our ESG-ID technology provides the market unique capability to 1. Measure,
2. Verify, and 3. Report compliance with global standards (carbon footprint,
social metrics, fair trade, child labor, conflict zone, etc).
• We are integrating trusted registries with our technology to improve the
distribution of price information, and promote transparency of the value of
the entire ESG chain.
• We are creating new benchmarks for ESG-related commodity markets and
beyond to transition to sustainable practice, and break the stagnation of
status quo.
• The Abaxx ID++ Technology Stack is open and adaptable, compatible with
existing FIX messaging protocols and ISV Bank integrations, as well as
distributed ledgers.
Market-based Solutions for ESG
Abaxx is in a unique position to promote price discovery and transparency for
markets and customers, especially where standards are not yet the norm, but can
be identified and priced.
Our
Commitment
10
January2021
Abaxx Exchange Executive TeamExchange Executive Team -
Dan McElduff, President
● Senior Director of Research for NYMEX leading
natural gas and Clearport product development
● Chief Regulatory Officer of ELX Futures
● BS Finance, Marist College
Joe Raia, Chief Commercial Officer
● Global Head of Energy and Metals Futures and
Options, CME/NYMEX
● Managing Director, Global Commodity Futures
Head, Goldman Sachs
● Global Head of Energy, RJ O’Brien
Nancy Seah, Managing Director
● Co-Head of Trading Division, Pavilion Energy
● Managing Director, Head of Commodities Sales
Asia, Goldman Sachs
● Team Head, EnRisk Derivatives Trading, BP
Integrated Supply & Trading EH
Shanmei Lim, VP - Corporate Development
● Mirexa Capital, Director, FX Sales
● Barclays Capital, AVP, FX Derivatives Trader
● BSc Mechanical Engineering, Minor
Computational Finance, Carnegie Mellon University
Josh Crumb, Founder & Director
● Former Executive Director at Goldman Sachs,
Head of Metals Research & Strategy
● Founder of TSX-listed FinTech Goldmoney
● Colorado School of Mines
Prashant Bhatnagar, Head of Exchange Operations
● Manager-Operations & Technology Development,
National Stock Exchange of India Limited (NSEIL)
● AVP-Clearing & Settlement, Singapore Exchange (SGX)
● Vice President-Operations, Singapore Mercantile
Exchange (SMX-later bought over by ICE)
11
January2021
Over 100 years of experience in exchanges, commodity markets and risk management
Ryan Ingram, Chief Risk Officer
● HKEX, Group Regulatory Analytics, Risk Policy &
Strategy
● Goldman Sachs, Regulatory Analytics & CCP, Credit
Risk Management & Advisory
● ISDA, Risk & Capital, Risk & Margin Reg. Committee
● CME Group, Risk Policy, CME Clearing
Tan Tock Siong, Chief Regulatory Officer
● Chief Regulatory Officer, Asia Pacific Exchange and
Singapore Mercantile Exchange/ICE Singapore
● Singapore country head of compliance, Bank of China,
State Bank of India, Bank of Nova Scotia
● Deputy Director/Lead Policy Analyst, Monetary
Authority of Singapore
Gus Hadidi, LNG Contract Advisor
● Managing Partner- Enerleb Ventures
● Fortress Investment Group, Energy Private Equity
● Poten & Partners, LNG & Natural Gas
● Masters in Energy Economics, Chemical Engineering
- Cornell University
Wade Brennan, Gold Contract Advisor
● CEO of Kilo Capital, Precious Metals Trading and
Finance Specialist
● Former Head of Precious Metals Sales for Europe,
Mid-East and Africa at ScotiaMocatta
12
January2021
Singapore Executive Team -
Why Now? LNG market in transition.
Spot Trade: 1-12 months
13
Supply of Spot Market is Growing Rapidly...
...while Demand Marches Higher...
...and Market Transitions from Long to Short Term & Spot Contracts.
13
January2021
LNG is the last unbenchmarked global* energy market. Abaxx is solving this.
What is the Price of LNG ?
1414
January2021
2017 Energy
Outlook BP p.l.c
2017
The market needs a price, and a buyer/seller of last resort to
address increasing spot-market complexity.
2017 Energy
Outlook BP
p.l.c 2017
Import
Export
Gulf of Mexico FOB
(Free On Board)
North Pacific DAP
(Delivery At Place)
Projected net LNG Exports & Imports 2020 (Bcf/d)
7
2
7
2
10
5
44
11
15
January2021
Abaxx is partnering with LNG and Carbon market participants to execute the first global Carbon Offset Physical
LNG trade cleared and settled from a futures contract. We are developing a working group with market leading
participants in both LNG and Carbon/Environmental markets.
● This will be a transaction focused inaugural trade that would provide an opportunity to become a leader in new
ESG related commodity markets.
● This project will help us shape the future of commodity and socially-responsible markets.
Objectives are to:
● Lead the way by completing the market’s first Carbon
Neutral LNG Futures trade.
● Demonstrate our organization's commitment to ESG goals.
● Forge the future with encrypted technology and secure
transactions, transforming Carbon and LNG trading.
Carbon Offset LNG-Cargo Pilot Transaction
16
January2021
• New digitization tools for spot market clearing
and settlement
• New tools for metals markets to meet
developing criteria and methods for ESG
standards
• Risk management tools
The Gold Problem:
Limited ability to discover price and manage
price risk
• Miners and end users have limited choice, being price
takers where price may not reflect local market
fundamentals.
• Hedge effectiveness is lower when forward/ futures
markets don’t converge with spot.
• No real time access to prevailing bid:ask for spot.
• Limited ability to find non-LBMA counterparts that
might have complementary needs.
• Global pressure to embrace and adopt new ESG
standards and criteria in all metals markets.
17
January2021
New Gold Product
Solution:
• The potential to provide greater transparency, price discovery, & liquidity to
global markets during this generational transition to embracing all aspects
of the ESG value chain.
• The ability to integrate trusted registries to meet developing market criteria
and methods for ESG standards and greater global responsibility.
• New ways to provide an intelligent and socially responsible approach to
commodity benchmarks.
We are Bringing Meaningful Change to New and Existing Markets
Our
Commitment
EMERGING:
• Physical LNG Markets - meaningful
and measurable carbon neutral
benchmarks
• Environmental Markets - utilizing
trusted registries with certifiable
criteria
• Energy Metals - address the social
governance issues surrounding
metals and mining with relevant
registries.
MATURE:
• Precious Metals - enabling
existing market participants the
means to transact in reliable
and relevant registries.
18
January2021
Additional exchange revenue streams currently in pricing evaluation
19
January2021
.A fresh approach to traditional revenue streams and opportunities:
- Data services are not yet treated in our financial model
- Revenue generated from non-futures transaction services
- EFP
- Spot services
- SaaS ID++ chat with video and regulatory compliant transcription,
contract execution, document transfer
- Execution of orders, execution of documents with multiple
counterparties
Abaxx Exchange Status and MilestonesAbaxx Exchange and Abaxx Clearing: 2019 to Current
Jan 2019 – Mar 2019
Initial Staff on boarding
Technology delivery from
Cinnober (NASDAQ)
Apr 2019 – Jun 2019
Abaxx Exchange staff onboarding
Completion of User Acceptance
Testing (UAT)
Mock Trading and Clearing runs
Team cross training
Regulatory documentation
(i.e. Rules and Policies) review
Jul 2019-Sep 2019
Cross Training and Mock
Runs continue
Regulatory documentation
(i.e. Rules and Policies)
review
Oct 2019 – Dec 2019
Cross Training and Mock
Runs continue
Regulatory documentation
(i.e. Rules and Policies)
review
Jan 2020 – Mar 2020
Regulatory review
Management Meeting
Initiation of discussion with Settlement
Bank (SCB)
Clearing Testing Scenarios build up
System Demonstration to Tech Team
RMO checklist to MAS
Apr 2020-Jun 2020
Regulatory documentation (i.e. Rules
and Policies) review
GARCH System build, testing and sign
off
System Demonstration to Tech Team
SOP and Manual updates
ISV Interaction
RMO Checklist to MAS
Jul 2020 to Sep 2020
AIP for RMO
System operations(hands-on)
demonstration to Tech Team
Regulatory documentation (i.e.
Rules and Policies) review
Ops Presentations to MAS
Risk Presentation to MAS
Oct 2020 to Dec 2020
Ops Presentations to MAS
Risk Presentation to MAS
On boarding of Manager
(Clearing Ops)
Regulatory documentation (i.e.
Rules and Policies) review
Trading & Clearing Procedures-
In Progress 20
January2021
1980s - PC
1970s - Minicomputers
1960s - Mainframe
1990s - Client-Server
2000s - Cloud
2010s - Mobile
EMERGING - Distributed
+ Decentralized
Business Transformation #1: PC + Internet
● Spreadsheets, Word Processing, Powerpoint Presentations
● Email & Instant Messaging
● Online markets; just-in-time globalization
Identity + Decentralized Data Stores
● Trusted Digital Identity
● Trustworthy Computing & Secure Data Stores
● Digital Documents Superior to Paper
(new markets / businesses emerge)
Abaxx New Technology Stack: Technological Generations
Commoditization
of PCs
Business Transformation #2: Cloud + Mobile
● Cloud Software & Storage, Big Data
● Social Networks, Cloud CRM/HRM/Etc
● Mobile Platform Markets (Uber/AirBnB)
Commoditization
of NETWORKS
Commoditization
of TRUST™
21
January2021
The applications built on the protocol are
modular and fundamentally improve productivity
in financial services and potentially a myriad of
additional industries.
The platform is built on our proprietary ID++ protocol
22
January2021
Abaxx Global Mesh Network - Optimized for a modern global exchange
23
January2021
Abaxx Technologies Executive Team
Andrew Fedak, Founder & Chief Strategy Officer
● Growth Executive, Seed to Scale
● 25 years as an entrepreneur commercializing concepts in
technology and resource industries
● Multiple start ups, multiple successful exits, as Founder,
Executive, Director and or Advisor
● Economics, Western University, Canada
John Dutchak, Director of Engineering and
Technology
● Full stack developer and security engineer with
30+ years experience developing enterprise
solutions
● Emerging technology, including smart contracts,
dapps, wallets and mobile institutional apps and
integrations
Josh Crumb, Founder & CEO
● Former Executive Director at Goldman Sachs,
Head of Metals Research & Strategy
● Founder of TSX-listed FinTech Goldmoney
● Colorado School of Mines
24
January2021
Margot Naudie, CFA, Lead Independent Director
● Former Senior Portfolio Manager at TD Asset
Management, Marret Asset Management and Canada
Pension Plan Investments
● Director on public and private company boards
● B.A. McGill, MBA Ivey School of Business
Josh Crumb, Founder & CEO
● Former Executive Director at Goldman Sachs,
Head of Metals Research & Strategy
● Founder of TSX-listed FinTech Goldmoney
● Colorado School of Mines
Thom McMahon, Founder & Director
● Former CEO of the Singapore Mercantile Exchange
● Former President, Hong Kong Mercantile Exchange
● Director for NYMEX, natural gas committee leading
Henry Hub futures development
Catherine Flax, ESG-EFP Lead, Independent Corporate
Director
● Senior Finance Executive and Commodity Specialist
● Former Managing Director, Head of Commodity
Derivatives, Foreign Exchange and Local Markets Americas,
BNP Paribas; Chief Marketing Officer, J.P.Morgan; CEO
of JP Morgan Commodities, EMEA.
Daniel P. Owen, Independent Director,
Nominating & Governance Committee
● Chairman and CEO of Private Investment and
Wealth Management Company
● Experienced Senior Executive and Director of
numerous Canadian publicly listed companies
25
January2021
Board of Directors
W. Scott Leckie, Independent Director, Audit
Committee Chair
● Principal and Portfolio Manager of Takota Asset
Management Inc.
● Director of Acerus Pharmaceuticals Corp, Sterling
Maple Corp.
● Former Director of New Millenium Iron Ore
26
January2021
Developer and sponsor of the Smarter Markets Podcast
www.smartermarketspod.com
Abaxx goals include:
stakeholder awareness
and brand building;
discussing the hard
issues in developing
new market structures;
a platform for the
resource industry in
ESG investing
Smarter Markets Infrastructure
Market Structure and
Trusted Price Discovery
Abaxx Exchange:
• Energy (LNG to start)
• Metals (Gold to start)
Technology
Abaxx Tech: ID++ Protocol
• Chat, sign, drive, vault
Environmental, Social and
Governance
A trusted global scorekeeper,
not player or referee
• Measurement, Verification,
Reporting (MVR)
27
January2021
LNG/Transition Energy
Exchange
Self-Sovereign ID ++
Applications
Trustless Ledgers &
Settlement
Digital Identity
& Messaging
Smart Contracts &
Decentralized Storage /
Custody
Abaxx Financial
Console & Workflow
Abaxx Protocols:
Abaxx Projects:
Enterprise Value:
Equity + Royalty
84% + 2% 100% 100%
Ownership
Source: CapIQ. Market data as of December 15, 2020. Figures may be slightly off due to rounding. All figures reflect closing of RTO Transaction with New Millennium Iron Corp. (TSX:NML) on December 14, 2020.
Share Price based on last trade of NML’s common shares on the TSX (C$0.34). Cash estimate based on estimated pro-forma cash position net of transaction costs as estimated in NML’s Management Information Circular dated
October 15, 2020 plus
Pro-Forma Ownership based on ~63.1mm shares outstanding.
Units C$
Share Price C$ $3.90
S/O mm 64.1
Market Cap C$mm ~$255.0
(-) Pro-forma
Cash/Investment
C$mm ~$13.0
(+) Payables C$mm ~$2.5
Enterprise Value C$mm ~$240.0
● Significant insider ownership – Abaxx
management team and board of
directors own +20% of shares
outstanding
● Strong shareholder base –
Angel-shareholders include Robert
Friedland, Kyle Bass, Erik Townsend
(+10% of shares) + institutional funds
● Liquid market for shares –
+5,000 shareholders, +1mm average
daily volume in December (CAN + US)
● Listed on – NEO Exchange
● Ticker – ABXX (US OTC: ABXXF)
28
January2021
Abaxx Shareholders
NML RTO-Shareholders
Josh Crumb, CEO
Robert Friedland
Market Comparable Company Overview
29
Source: CapIQ, Company disclosures. Market data as of December 15, 2020. All figures in US$ unless otherwise stated.
29
January2021
josh@abaxx.tech
andy@abaxx.tech
Abaxx.tech Abaxx.exchange

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Abaxx Investor Presentation January 2021

  • 2. THIS DOCUMENT IS PRIVATE AND CONFIDENTIAL, CONTAINS SENSITIVE BUSINESS INFORMATION OF ABAXX TECHNOLOGIES INC. (“Abaxx” or the “Company”) AND IS NOT FOR PUBLIC DISTRIBUTION. By your acceptance of this document you acknowledge and agree that this document has been prepared for informational purposes only, is provided personally to you, may not be copied, reproduced or made available to any person without Abaxx’s consent, and must be returned promptly upon the request of Abaxx. It contains general information about aspects of the business of Abaxx, and is not, and should not be construed as, an advertisement or public or private offering of securities of Abaxx. This document contains summary information about Abaxx, does not purport to be complete, and no representations or warranties about such information are made by Abaxx. By accepting this document you agree to keep its contents strictly confidential, not to copy any portion of this document and to return it to Abaxx promptly upon its request. This document is not, and under no circumstances is to be construed as, a prospectus, an advertisement or a public offering of these securities in Singapore, Canada or the United States. No securities commission or similar authority in Singapore, Canada, the United States or elsewhere has in any way passed upon the merits of the securities offered hereunder, and any representation to the contrary is an offence. No person is authorized to give any information or to make any representation not contained in this document and, if given or made, such representation must not be relied upon. Prospective investors are urged to consult their professional advisors and to carefully consider the risks and challenges typically encountered by companies that are developing new products and entering new and untested markets. FORWARD-LOOKING INFORMATION This document contains forward-looking information within the meaning of applicable Singapore, Canadian securities laws and the United States Private Securities legislation. This forward-looking information includes, or may be based upon, estimates, forecasts, and statements as to management’s expectations with respect to, among other things, demand for and marketability of the Company’s products, prevailing regulations, the Company’s future growth plans, the timing and scale of future business plans, results of operations, expected use of proceeds of the offering and business prospects and opportunities. Wherever possible, words such as “anticipate”, “believe”, “expect”, “intend”, “may”, “would”, “could”, “estimate”, “forecast”, and similar expressions have been used to identify such forward-looking information. Forward-looking information is based on the opinions and estimates of management at the date the information is given and on information available to management at such time. Forward-looking statements are provided to assist external stakeholders in understanding management's expectations and plan relating to the future as of the date of this document and may not be appropriate for other purposes. Forward-looking information involves significant risks, uncertainties, assumptions and other factors that could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking information. These factors include, among other things, ability to continue as a going concern, the highly speculative nature of an investment in securities of the Company, no history of revenues or profits, no assurance of commercial success of the Company’s products, changes in market demand for the Company’s products, the success and ability of investee companies to execute on business plans, requirements for additional financing, protection of intellectual property rights, competition, potential infringements of intellectual property rights of others, fluctuations in input costs, reliance on key personnel, technological change, blockchain regulation, permits and licenses, and conflicts of interest, and should be considered carefully. Prospective investors should not place undue reliance on any forward-looking information. Although the forward-looking information contained in this document is based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure subscribers that actual results will be consistent with such forward-looking information as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Company does not undertake to and assumes no obligation to update or revise any such forward-looking information to reflect new events or circumstances, except as may be required by law. OBLIGATORY CAUTIONARY STATEMENT 2 January2021
  • 3. Quick Summary - Smarter Markets: price benchmarks + tech + ESG 3 January2021 Abaxx is a full-stack financial technology company developing a regulated commodity futures exchange in Singapore, and new software protocols and applications to enhance trust in electronic markets Our key mission is to improve price signals in markets for the energy transition. We solve a global problem of how natural resource commodities can be graded and traded based on their environmental, social, and governance (ESG) externalities and incentives. Key Activities: ● New benchmark contracts for global energy and precious metals, developed in partnership with respective industry market players ● First Regulatory Approval in Principle Achieved September 2020 (MAS, Singapore: RMO), ACH in progress for 2Q-2021 goal ● Exchange technology completed in partnership with Nasdaq in 2019 ● Currently negotiating Founding Member Incentive Agreements; Targeting Summer-2021 Launch ● Executive Management - Former NYMEX/CME, Goldman Sachs, SMX/ICE ● ESG ID: a new market data platform designed to enhance ESG pricing discovery ● 10+ patent applications for commodity market electronic systems, digital identity and digital IP
  • 4. Abaxx’s mission statement and business structure is summarized in our communications phrase, SmarterMarkets, the 3 dimensions of which are: Mission and Commercial Segments Market Structure and Trusted Price Discovery Abaxx Exchange: • Energy (LNG to start) and metals (Gold to start) Technology Abaxx Tech: ID++ Protocol • Chat, sign, drive, vault Environmental, Social and Governance A trusted global scorekeeper, not player or referee • Measurement, Verification, Reporting (MVR) 4 January2021
  • 5. Price to 2021E Earning by Sector(1) ● Near-term focus is on the Abaxx Exchange ● Exchanges & Marketplaces are some of the most highly valued sectors in finance; from traditional equities and derivatives exchanges, to software-technology enabled marketplaces (Ex. Google, Uber & AirBnB) ● Exchanges trade at a premium to other types of financial institutions due to: higher fee-based and recurring revenues, less cyclicality and oligopolistic market dynamics with high entry barriers ● Abaxx’s ultimate model will blend aspects of other highly-valued sectors including Market Data Providers, Distributed Ledger Technologies and Work Automation cos. companies Market Segmentation Source: CapIQ, Company disclosures. Market data as of December 15, 2020. Price to Earnings ratio is median of comparable company set. Median P/E ratio for Core Market Infrastructure includes all exchanges (cash equity, options, futures, commodities and other derivatives). 5 January2021
  • 6. Immediate Focus: Liquified Natural Gas and a changing global energy trade that demands carbon reduction and offsets. Near Term ESG Opportunity: We are designing ESG compliant products that are fundamentally differentiated from competitors through the use of our technology console. Our Goals Abaxx Exchange Section We are a new Commodity Futures Exchange facilitating a more efficient means for price discovery and price transparency. 6 January2021
  • 7. 2003 - 2020: Internet-based trading changes the landscape. Technology & new equity structures shift from traditional floor trading such as NYMEX to electronic platforms (ICE & Clearport). The Opportunity: Commodity and Exchange Consolidation Timeline 2003 Electronic-Based Exchanges: Fewer Exchanges with more product offerings = more trading volume per Exchange. Still regionally restricted and high cross-region friction. 2020 Globally-Minded Platforms: Abaxx With products and services that bring global operational efficiency and transparency to the cost/value of implementing sustainable practices. 2020 onwards: New technology in digital transformation, ESG, and new tools for risk management to change the landscape again. 1864 Traditional Exchanges: Several Exchange with specialized product offerings = less trading volume per Exchange. GROWTH CONSOLIDATION OPPORTUNITY 7 January2021
  • 8. Trading revenues in Energy & Metals derivatives Significant revenue potential in other Energy & Metal products & other new benchmarks(2) Massive value transfers in global commodity trading Further capture of market share across the spectrum of commodity trading and ancillary businesses(3) Long-term LNG annual revenue Large opportunity in LNG trading which is in nascent stages(1) Source: CapIQ, company disclosures and Abaxx exchange industry research. Market data as of December 15, 2020. LNG Market revenue calculated based on assumptions: Production of 10,000 lots/day x Trading (Notional) of 50x = 500,000 trades/day. Daily revenue of ~US$3-5mm/day. . Estimate of revenue attributable to Energy and Metal trading revenues from Core Market Infrastructure exchanges (CME, ICE, HKEK (LME), SGX, Deutsche Börse (EEX) & Nasdaq). Full-year revenue figures per FY19. Based on 2019 notional value of Energy & Metals trading from top 10 exchanges globally (per broker on Hong Kong Exchange (HKEK) from JP Morgan, China Merchant Securities, UBS and HSBC). Large Market Opportunity in LNG & Other Commodity Markets LNG is Abaxx’s Entryway into Global Commodity Markets ~$500mm Medium-term LNG derivative TAM ~$4.0Bn Trading revenues in major Energy and Metal derivative markets ~$70-80T Notional value of trading in global Energy & Metal markets 8 January2021
  • 9. 9 January2021 Why Singapore ● Singapore is the hub of the Asian energy transition ● Excellent regulatory and governance environment ● Has usurped many traditional European and Asian financial centers as the defacto center of commodity finance ● Singapore enthusiastically supportive of Abaxx’s business segment potential
  • 10. • The Abaxx technology captures and disseminates transparent transaction information, enabling traders to bring more certainty and to more easily verify criteria supporting all aspects of ESG transactions. • Our ESG-ID technology provides the market unique capability to 1. Measure, 2. Verify, and 3. Report compliance with global standards (carbon footprint, social metrics, fair trade, child labor, conflict zone, etc). • We are integrating trusted registries with our technology to improve the distribution of price information, and promote transparency of the value of the entire ESG chain. • We are creating new benchmarks for ESG-related commodity markets and beyond to transition to sustainable practice, and break the stagnation of status quo. • The Abaxx ID++ Technology Stack is open and adaptable, compatible with existing FIX messaging protocols and ISV Bank integrations, as well as distributed ledgers. Market-based Solutions for ESG Abaxx is in a unique position to promote price discovery and transparency for markets and customers, especially where standards are not yet the norm, but can be identified and priced. Our Commitment 10 January2021
  • 11. Abaxx Exchange Executive TeamExchange Executive Team - Dan McElduff, President ● Senior Director of Research for NYMEX leading natural gas and Clearport product development ● Chief Regulatory Officer of ELX Futures ● BS Finance, Marist College Joe Raia, Chief Commercial Officer ● Global Head of Energy and Metals Futures and Options, CME/NYMEX ● Managing Director, Global Commodity Futures Head, Goldman Sachs ● Global Head of Energy, RJ O’Brien Nancy Seah, Managing Director ● Co-Head of Trading Division, Pavilion Energy ● Managing Director, Head of Commodities Sales Asia, Goldman Sachs ● Team Head, EnRisk Derivatives Trading, BP Integrated Supply & Trading EH Shanmei Lim, VP - Corporate Development ● Mirexa Capital, Director, FX Sales ● Barclays Capital, AVP, FX Derivatives Trader ● BSc Mechanical Engineering, Minor Computational Finance, Carnegie Mellon University Josh Crumb, Founder & Director ● Former Executive Director at Goldman Sachs, Head of Metals Research & Strategy ● Founder of TSX-listed FinTech Goldmoney ● Colorado School of Mines Prashant Bhatnagar, Head of Exchange Operations ● Manager-Operations & Technology Development, National Stock Exchange of India Limited (NSEIL) ● AVP-Clearing & Settlement, Singapore Exchange (SGX) ● Vice President-Operations, Singapore Mercantile Exchange (SMX-later bought over by ICE) 11 January2021 Over 100 years of experience in exchanges, commodity markets and risk management
  • 12. Ryan Ingram, Chief Risk Officer ● HKEX, Group Regulatory Analytics, Risk Policy & Strategy ● Goldman Sachs, Regulatory Analytics & CCP, Credit Risk Management & Advisory ● ISDA, Risk & Capital, Risk & Margin Reg. Committee ● CME Group, Risk Policy, CME Clearing Tan Tock Siong, Chief Regulatory Officer ● Chief Regulatory Officer, Asia Pacific Exchange and Singapore Mercantile Exchange/ICE Singapore ● Singapore country head of compliance, Bank of China, State Bank of India, Bank of Nova Scotia ● Deputy Director/Lead Policy Analyst, Monetary Authority of Singapore Gus Hadidi, LNG Contract Advisor ● Managing Partner- Enerleb Ventures ● Fortress Investment Group, Energy Private Equity ● Poten & Partners, LNG & Natural Gas ● Masters in Energy Economics, Chemical Engineering - Cornell University Wade Brennan, Gold Contract Advisor ● CEO of Kilo Capital, Precious Metals Trading and Finance Specialist ● Former Head of Precious Metals Sales for Europe, Mid-East and Africa at ScotiaMocatta 12 January2021 Singapore Executive Team -
  • 13. Why Now? LNG market in transition. Spot Trade: 1-12 months 13 Supply of Spot Market is Growing Rapidly... ...while Demand Marches Higher... ...and Market Transitions from Long to Short Term & Spot Contracts. 13 January2021
  • 14. LNG is the last unbenchmarked global* energy market. Abaxx is solving this. What is the Price of LNG ? 1414 January2021
  • 15. 2017 Energy Outlook BP p.l.c 2017 The market needs a price, and a buyer/seller of last resort to address increasing spot-market complexity. 2017 Energy Outlook BP p.l.c 2017 Import Export Gulf of Mexico FOB (Free On Board) North Pacific DAP (Delivery At Place) Projected net LNG Exports & Imports 2020 (Bcf/d) 7 2 7 2 10 5 44 11 15 January2021
  • 16. Abaxx is partnering with LNG and Carbon market participants to execute the first global Carbon Offset Physical LNG trade cleared and settled from a futures contract. We are developing a working group with market leading participants in both LNG and Carbon/Environmental markets. ● This will be a transaction focused inaugural trade that would provide an opportunity to become a leader in new ESG related commodity markets. ● This project will help us shape the future of commodity and socially-responsible markets. Objectives are to: ● Lead the way by completing the market’s first Carbon Neutral LNG Futures trade. ● Demonstrate our organization's commitment to ESG goals. ● Forge the future with encrypted technology and secure transactions, transforming Carbon and LNG trading. Carbon Offset LNG-Cargo Pilot Transaction 16 January2021
  • 17. • New digitization tools for spot market clearing and settlement • New tools for metals markets to meet developing criteria and methods for ESG standards • Risk management tools The Gold Problem: Limited ability to discover price and manage price risk • Miners and end users have limited choice, being price takers where price may not reflect local market fundamentals. • Hedge effectiveness is lower when forward/ futures markets don’t converge with spot. • No real time access to prevailing bid:ask for spot. • Limited ability to find non-LBMA counterparts that might have complementary needs. • Global pressure to embrace and adopt new ESG standards and criteria in all metals markets. 17 January2021 New Gold Product Solution:
  • 18. • The potential to provide greater transparency, price discovery, & liquidity to global markets during this generational transition to embracing all aspects of the ESG value chain. • The ability to integrate trusted registries to meet developing market criteria and methods for ESG standards and greater global responsibility. • New ways to provide an intelligent and socially responsible approach to commodity benchmarks. We are Bringing Meaningful Change to New and Existing Markets Our Commitment EMERGING: • Physical LNG Markets - meaningful and measurable carbon neutral benchmarks • Environmental Markets - utilizing trusted registries with certifiable criteria • Energy Metals - address the social governance issues surrounding metals and mining with relevant registries. MATURE: • Precious Metals - enabling existing market participants the means to transact in reliable and relevant registries. 18 January2021
  • 19. Additional exchange revenue streams currently in pricing evaluation 19 January2021 .A fresh approach to traditional revenue streams and opportunities: - Data services are not yet treated in our financial model - Revenue generated from non-futures transaction services - EFP - Spot services - SaaS ID++ chat with video and regulatory compliant transcription, contract execution, document transfer - Execution of orders, execution of documents with multiple counterparties
  • 20. Abaxx Exchange Status and MilestonesAbaxx Exchange and Abaxx Clearing: 2019 to Current Jan 2019 – Mar 2019 Initial Staff on boarding Technology delivery from Cinnober (NASDAQ) Apr 2019 – Jun 2019 Abaxx Exchange staff onboarding Completion of User Acceptance Testing (UAT) Mock Trading and Clearing runs Team cross training Regulatory documentation (i.e. Rules and Policies) review Jul 2019-Sep 2019 Cross Training and Mock Runs continue Regulatory documentation (i.e. Rules and Policies) review Oct 2019 – Dec 2019 Cross Training and Mock Runs continue Regulatory documentation (i.e. Rules and Policies) review Jan 2020 – Mar 2020 Regulatory review Management Meeting Initiation of discussion with Settlement Bank (SCB) Clearing Testing Scenarios build up System Demonstration to Tech Team RMO checklist to MAS Apr 2020-Jun 2020 Regulatory documentation (i.e. Rules and Policies) review GARCH System build, testing and sign off System Demonstration to Tech Team SOP and Manual updates ISV Interaction RMO Checklist to MAS Jul 2020 to Sep 2020 AIP for RMO System operations(hands-on) demonstration to Tech Team Regulatory documentation (i.e. Rules and Policies) review Ops Presentations to MAS Risk Presentation to MAS Oct 2020 to Dec 2020 Ops Presentations to MAS Risk Presentation to MAS On boarding of Manager (Clearing Ops) Regulatory documentation (i.e. Rules and Policies) review Trading & Clearing Procedures- In Progress 20 January2021
  • 21. 1980s - PC 1970s - Minicomputers 1960s - Mainframe 1990s - Client-Server 2000s - Cloud 2010s - Mobile EMERGING - Distributed + Decentralized Business Transformation #1: PC + Internet ● Spreadsheets, Word Processing, Powerpoint Presentations ● Email & Instant Messaging ● Online markets; just-in-time globalization Identity + Decentralized Data Stores ● Trusted Digital Identity ● Trustworthy Computing & Secure Data Stores ● Digital Documents Superior to Paper (new markets / businesses emerge) Abaxx New Technology Stack: Technological Generations Commoditization of PCs Business Transformation #2: Cloud + Mobile ● Cloud Software & Storage, Big Data ● Social Networks, Cloud CRM/HRM/Etc ● Mobile Platform Markets (Uber/AirBnB) Commoditization of NETWORKS Commoditization of TRUST™ 21 January2021
  • 22. The applications built on the protocol are modular and fundamentally improve productivity in financial services and potentially a myriad of additional industries. The platform is built on our proprietary ID++ protocol 22 January2021
  • 23. Abaxx Global Mesh Network - Optimized for a modern global exchange 23 January2021
  • 24. Abaxx Technologies Executive Team Andrew Fedak, Founder & Chief Strategy Officer ● Growth Executive, Seed to Scale ● 25 years as an entrepreneur commercializing concepts in technology and resource industries ● Multiple start ups, multiple successful exits, as Founder, Executive, Director and or Advisor ● Economics, Western University, Canada John Dutchak, Director of Engineering and Technology ● Full stack developer and security engineer with 30+ years experience developing enterprise solutions ● Emerging technology, including smart contracts, dapps, wallets and mobile institutional apps and integrations Josh Crumb, Founder & CEO ● Former Executive Director at Goldman Sachs, Head of Metals Research & Strategy ● Founder of TSX-listed FinTech Goldmoney ● Colorado School of Mines 24 January2021
  • 25. Margot Naudie, CFA, Lead Independent Director ● Former Senior Portfolio Manager at TD Asset Management, Marret Asset Management and Canada Pension Plan Investments ● Director on public and private company boards ● B.A. McGill, MBA Ivey School of Business Josh Crumb, Founder & CEO ● Former Executive Director at Goldman Sachs, Head of Metals Research & Strategy ● Founder of TSX-listed FinTech Goldmoney ● Colorado School of Mines Thom McMahon, Founder & Director ● Former CEO of the Singapore Mercantile Exchange ● Former President, Hong Kong Mercantile Exchange ● Director for NYMEX, natural gas committee leading Henry Hub futures development Catherine Flax, ESG-EFP Lead, Independent Corporate Director ● Senior Finance Executive and Commodity Specialist ● Former Managing Director, Head of Commodity Derivatives, Foreign Exchange and Local Markets Americas, BNP Paribas; Chief Marketing Officer, J.P.Morgan; CEO of JP Morgan Commodities, EMEA. Daniel P. Owen, Independent Director, Nominating & Governance Committee ● Chairman and CEO of Private Investment and Wealth Management Company ● Experienced Senior Executive and Director of numerous Canadian publicly listed companies 25 January2021 Board of Directors W. Scott Leckie, Independent Director, Audit Committee Chair ● Principal and Portfolio Manager of Takota Asset Management Inc. ● Director of Acerus Pharmaceuticals Corp, Sterling Maple Corp. ● Former Director of New Millenium Iron Ore
  • 26. 26 January2021 Developer and sponsor of the Smarter Markets Podcast www.smartermarketspod.com Abaxx goals include: stakeholder awareness and brand building; discussing the hard issues in developing new market structures; a platform for the resource industry in ESG investing
  • 27. Smarter Markets Infrastructure Market Structure and Trusted Price Discovery Abaxx Exchange: • Energy (LNG to start) • Metals (Gold to start) Technology Abaxx Tech: ID++ Protocol • Chat, sign, drive, vault Environmental, Social and Governance A trusted global scorekeeper, not player or referee • Measurement, Verification, Reporting (MVR) 27 January2021 LNG/Transition Energy Exchange Self-Sovereign ID ++ Applications Trustless Ledgers & Settlement Digital Identity & Messaging Smart Contracts & Decentralized Storage / Custody Abaxx Financial Console & Workflow Abaxx Protocols: Abaxx Projects: Enterprise Value: Equity + Royalty 84% + 2% 100% 100%
  • 28. Ownership Source: CapIQ. Market data as of December 15, 2020. Figures may be slightly off due to rounding. All figures reflect closing of RTO Transaction with New Millennium Iron Corp. (TSX:NML) on December 14, 2020. Share Price based on last trade of NML’s common shares on the TSX (C$0.34). Cash estimate based on estimated pro-forma cash position net of transaction costs as estimated in NML’s Management Information Circular dated October 15, 2020 plus Pro-Forma Ownership based on ~63.1mm shares outstanding. Units C$ Share Price C$ $3.90 S/O mm 64.1 Market Cap C$mm ~$255.0 (-) Pro-forma Cash/Investment C$mm ~$13.0 (+) Payables C$mm ~$2.5 Enterprise Value C$mm ~$240.0 ● Significant insider ownership – Abaxx management team and board of directors own +20% of shares outstanding ● Strong shareholder base – Angel-shareholders include Robert Friedland, Kyle Bass, Erik Townsend (+10% of shares) + institutional funds ● Liquid market for shares – +5,000 shareholders, +1mm average daily volume in December (CAN + US) ● Listed on – NEO Exchange ● Ticker – ABXX (US OTC: ABXXF) 28 January2021 Abaxx Shareholders NML RTO-Shareholders Josh Crumb, CEO Robert Friedland
  • 29. Market Comparable Company Overview 29 Source: CapIQ, Company disclosures. Market data as of December 15, 2020. All figures in US$ unless otherwise stated. 29 January2021