AUSSIE BROADBAND LIMITED — Capital/Financing Update 2021

Sep 7, 2021

Capital Raise Presentation 8 September 2021.

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Disclaimer

Important information

This presentation has been prepared by Aussie Broadband Limited ("Aussie Broadband" or "ABB") in relation to an institutional placement of new fully paid ordinary shares in Aussie Broadband to fund growth objectives (“Placement” or “Offer”).

Summary information

This presentation contains summary information about Aussie Broadband and its activities current as at the date of this presentation. The information contained in this presentation is for information purposes only. The information in this presentation is supplied in summary form, is of a general background nature and does not purport to be complete or to provide all information that an investor should consider when making an investment decision. It should be read in conjunction with ABB’s periodic and continuous disclosure announcements filed with the ASX.

This presentation is not and does not contain all of the information which would be required to be disclosed in a prospectus, product disclosure statement or any other offering document under Australian law or any other law (and will not be lodged with ASIC or any foreign regulator).

Not an offer

The Placement will be conducted under section 708 of the Corporations Act 2001 (Cth) (Corporations Act) and will be made available to certain persons whom a prospectus is not required to be given under Chapter 6D of the Corporations Act. This presentation is for information purposes only and is not a prospectus, product disclosure statement or other disclosure or offering document under Australian law (and will not be lodged with ASIC) or any other law.

This presentation is not, and does not constitute, an offer to sell or the solicitation, invitation or recommendation to purchase any securities (including shares in Aussie Broadband) or any other financial product and neither this presentation nor any of the information contained herein shall form the basis of any contract or commitment. In particular, this presentation does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. This presentation may not be distributed or released in the United States. The securities referred to in this presentation have not been, and will not be, registered under the US Securities Act of 1933 ("US Securities Act") or the securities laws of any state or other jurisdiction of the United States and may not be offered or sold, directly or indirectly, in the United States unless the securities have been registered under the US Securities Act or are offered and sold in a transaction exempt from, or not subject to, the registration requirements of the US Securities Act and any other applicable securities laws. The distribution of this presentation in jurisdictions outside Australia may be restricted by law and you should observe any such restrictions. Any failure to comply with such restrictions may constitute a violation of applicable securities laws. By accepting this presentation, you represent and warrant that you are entitled to receive such presentation in accordance with the above restrictions and agree to be bound by the limitations contained therein.

Not financial product advice

This presentation is for information purposes only and it is not financial product nor investment advice (nor tax, accounting or legal advice) nor a recommendation to acquire Aussie Broadband shares and has been prepared without taking into account the objectives, financial situation or needs of recipients of this presentation. It is not intended that it be relied upon as advice to investors or potential investors, who should make their own enquiries and investigations regarding an investment in ABB and in relation to all information in this presentation (including but not limited to the assumptions, uncertainties and contingencies which may affect the future operations of ABB and the value and the impact that different future outcomes may have on ABB) and before making any investment decisions, should consider the appropriateness of the information having regard to their specific investment objectives, financial situation or particular needs and should seek independent professional advice appropriate to their jurisdiction before making an investment decision. Neither this presentation nor anything contained in it forms the basis of any contract or commitment and no agreement to subscribe for securities will be entered into on the basis of this presentation. ABB is not licensed to provide, and this presentation does not constitute the provision of, investment or financial product advice in respect of ABB’s shares. Cooling off rights do not apply to the acquisition of ABB shares.

Financial data

All amounts are in Australian Dollars ($ or AUD) unless otherwise indicated. A number of figures, amounts, percentages, estimates, calculations of value and fractions in this presentation are subject to the effect of rounding. Accordingly, the actual calculation of these figures may differ from the figures set out in this presentation. All references starting with “FY” refer to the financial year ending 30 June. For example, “FY21” refers to the financial year ending 30 June 2021.

Investors should note that this presentation includes both audited and unaudited financial information for various periods. With the exception of the audited financial information, investors should note that this information has not been audited and is based on management estimates and not on financial statements prepared in accordance with applicable statutory requirements. Accordingly, investors should treat this information with appropriate caution.

Investors should also be aware that certain financial data included in this presentation including EBITDA and measures described as “pro forma”, are "non-IFRS financial information” under ASIC Regulatory Guide 230 (Disclosing non-IFRS financial information). The non-IFRS financial information financial measures do not have a standardised meaning prescribed by Australian International Financial Reporting Standards (AIFRS) and, therefore, may not be comparable to similarly titled measures presented by other companies, nor should they be construed as an alternative to other financial measures determined in accordance with AIFRS. Investors are cautioned, therefore, not to place undue reliance on any non-IFRS financial measures included in this presentation.

An investment in shares in Aussie Broadband is subject to known and unknown risks, some of which are beyond the control of Aussie Broadband, including possible loss of income and principal invested. Aussie Broadband does not guarantee any particular rate of return or the performance of Aussie Broadband, nor does it guarantee any particular tax treatment. Investors should have regard to (amongst other things) the risk factors outlined in this presentation when making their investment decision. See the “Key Risks” section of this presentation for certain risks relating to an investment in Aussie Broadband shares.

aussiebroadband.com.au

Future Performance

Forward-looking statements are statements about matters that are not historical facts. Forward-looking statements appear in a number of places in this presentation and include statements regarding ABB’s intent, belief or current expectations with respect to business and operations, market conditions, results of operations and financial conditions, including, without limitation, forecasted economic indicators and performance metric outcomes. This presentation contains words such as ‘will’, ‘may’, ‘expect’, ‘indicative’, ‘intend’, ‘seek’, ‘would’, ‘should’, ‘could’, ‘continue’, ‘plan’, ‘probability’, ‘risk’, ‘forecast’, ‘likely’, ‘estimate’, ‘anticipate’, ‘believe’, or similar words to identify forward-looking statements. Indications of, and guidance or outlook on, future earnings or financial position or performance are also forward-looking statements. These forwardlooking statements reflect ABB’s current views with respect to future events and are subject to change, certain risks, uncertainties and assumptions which are, in many instances, beyond the control of ABB, and have been made based upon ABB’s expectations and beliefs concerning future developments and their potential effect on ABB. There can be no assurance that future developments will be in accordance with ABB’s expectations. A number of important factors could cause ABB's actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements, including but not limited to, general economic conditions in Australia and other jurisdictions in which ABB or its related bodies corporate operate; exchange rates; competition in the markets in which ABB will operate, the inherent regulatory risks in the businesses of ABB and the duration of the COVID-19 pandemic.

Assumptions on which forward-looking statements in this presentation are based may or may not prove to be correct and there can be no assurance that actual outcomes will not differ materially from these statements. None of the Associated Persons nor any other person referred to in this presentation makes any representation as to the accuracy or likelihood of fulfilment of the forward-looking statements or any of the assumptions upon which they are based. When relying on forward-looking statements to make decisions with respect to ABB, investors and others should carefully consider such factors and other uncertainties and events.

Disclaimer

No representation or warranty, express or implied, is made as to the accuracy, completeness, reliability or fairness of the information, opinions and conclusions contained in this presentation. Any information in this presentation is made only at the date of this presentation, and opinions expressed reflect ABB's position at the date of this presentation, and are subject to change. ABB is under no obligation to update this presentation. No assurance is given by Aussie Broadband that the Placement or any other transaction referred to in this presentation will proceed and Aussie Broadband reserves its rights to withdraw or vary the transactions described in this presentation without notice.

Neither ABB, its related bodies corporate, shareholders or affiliates, nor any of their officers, directors, employees, affiliates, agents, contractors, advisers or any other associated persons (collectively, “Associated Persons”) represents or warrants in any way, express or implied, that the information, opinions, conclusions or other information contained in this presentation, any of which may change without notice, is fair, accurate, complete, reliable, up to date or correct. ABB does not represent or warrant that this presentation is complete or that it contains all material information about ABB or which a prospective investor or purchaser may require in evaluating a possible investment in ABB or an acquisition or other dealing in ABB shares. To the maximum extent permitted by law, ABB and its Associated Persons each expressly disclaims and excludes all direct, indirect, consequential or contingent loss, damage or liability (including, without limitation, any liability arising from fault or negligence) that may arise from, or is connected to, this presentation, or the use of this presentation, or any other written or oral information provided by or on behalf of ABB, including representations or warranties or in relation to the accuracy or completeness of the information, statements, opinions or matters, express or implied, contained in, arising out of or derived from, or for omissions from, this presentation including, without limitation, any financial information, any estimates or projections and any other financial information derived therefrom.

ABB is under no obligation to update any forward-looking statements contained in this presentation, as a result of new information, future events or otherwise, after the date of this presentation. As such, undue reliance should not be placed on any forward-looking statement. To the maximum extent permitted by law, Aussie Broadband and its related bodies corporate, officers, employees, agents and advisers nor any other person referred to in this presentation (the “Limited Parties”):

• disclaim any obligations or undertaking to release any updates or revisions to the information to reflect any change in expectations or assumptions or as a result of new information, future events or otherwise;

• do not make any representation or warranty, express or implied, as to the accuracy, reliability, fairness or completeness of such information, or likelihood of fulfilment of any forward-looking statement or any event or results expressed or implied in any forward-looking statement; and

• disclaim all responsibility and liability for these forward-looking statements (including, without limitation, liability for negligence).

Past performance information given in this presentation is given for illustrative purposes only and is not necessarily a guide to future performance and no representation or warranty is made by any person as to the likelihood or achievement or reasonableness of any forward-looking statements, forecast financial information or future share price performance. Nothing contained in this presentation nor any information made available to you is, or shall be relied upon as, a promise, representation, warranty, or guarantee as to the past, present or the future performance of Aussie Broadband.

You are strongly cautioned not to place undue reliance on forward-looking statements, particularly in light of the current economic climate and significant volatility, uncertainty and disruption caused by the outbreak of COVID-19.

Company highlights FY21

aussiebroadband.com.au

Highlights

$350.3m

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Revenue 84% ($190.5m FY20)

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25

NBN POIs & data centres connected to Aussie Fibre

$19.1m 400,848 EBITDA before Total IPO costs broadband services 433% 53% ($3.6m FY20)

Total broadband services 53% (261,361 as at 30 June 2020)

25,606 37,498 Mobile services Business & wholesale 102%

Business & wholesale broadband services

(12,639 as at 30 June 2020)

(19,734 as at 90% 30 June 2020)

Highlights

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ASEA winner

Customer Service Organisation of the Year – Large 2020

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8.4/10 Customer satisfaction

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86%

Great Places to Work score, 16th place in medium business in Australia

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28% Staff increase to 568

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New technology platforms Carbon White label Mobile

As measured by voice of customer surveys

(444 at 30 June 2020)

6.

aussiebroadband.com.au

Segment performance

Residential Business Revenue $305.0m Revenue $45.2m ($165.8m FY20) ($24.7m FY20) EBITDA $12.5m EBITDA $6.7m ($0.1m FY20) ($3.6m FY20) Customers 362,260 Customers 24,152 (241,606 at Jun-20) (12,703 at Jun-20) ARPU $78.19 p/m ARPU $129.67 p/m

Operational performance

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Broadband services

Sustained growth in a highly competitive market

• 400,848 total broadband services at the end of FY21, an increase of 53% on the prior year.

• Achieved more than 20% of net nbn orders in 4Q FY21.

• Over 80% of nbn sales are from customers switching nbn providers (churning into Aussie) and this continues to increase.

• 121,723 residential and 17,764 business & wholesale net additions for the year.

• 100% organic growth.

Residential broadband

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400,000
350,000
300,000
250,000
200,000
150,000
100,000
Jun-19 Dec-19 Jun-20 Dec-20 Jun-21
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• Customer churn has remained mostly stable since the residential price rise in November 20 and effects from NBN's focus on fast campaign.

Customer churn

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1.60
1.40
1.20
1.00
0.80
0.60
0.40
0.20
-
Residential Business
Percent per month
Jul 20 Aug 20 Sep 20 Oct 20 Nov 20 Dec 20 Jan 21 Feb 21 Mar 21 Apr 21 May 21 Jun 21
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Business & wholesale broadband

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40,000
35,000
30,000
25,000
20,000
15,000
10,000
5,000
Jun-19 Dec-19 Jun-20 Dec-20 Jun-21
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aussiebroadband.com.au

Mobile services

New MVNO agreement online and set for growth

• 12,967 net mobile additions for the year.

• New mobile virtual network operator (MVNO) agreement with Optus went online in May 2021 which has resulted in good connection growth in recent months.

• Seeing good migrations from our existing Telstra mobile base onto the Optus network and increased attachment with customers signing onto nbn also taking mobile services.

Mobile services

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30,000
25,000
20,000
15,000
10,000
5,000
Jun-19 Dec-19 Jun-20 Dec-20 Jun-21
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• Focus now shifting to increasing upsell activities within the existing broadband base, and increased attachment at point of sale for

new customers.

Call Centre Mobile Attachment Rate

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25%
20%
Migration of previous MVNO agreement
15%
10%
5%
0%
Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21
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Mobile figures in the 4Q results update were disclosed as 22,454 which only related to the Residential segment. Mobile figures presented here include residential and business segment services.

Voice & Fetch services

Voice growth slowing as nbn migration is complete

• 23,770 net voice additions for the year, with 7,996 in the last 6 months.

• Single line voice service additions slowed in the second half of the year, primarily linked to nbn first time connects declining. The second half saw an increase from the business segment.

• Seeing a move to mobile rather than traditional voice services when customers churn their nbn to a new provider like Aussie. This causes customers to reconsider the need for fixed line voice.

Voice services

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80,000
70,000
60,000
50,000
40,000
30,000
20,000
Jun-19 Dec-19 Jun-20 Dec-20 Jun-21
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Fetch growth slowing as more streaming services enter market

• 5,908 net Fetch additions for the year with 1,405 in the last 6 months.

• Increased streaming options like Disney+ have entered the market with many of these new additions not yet available on the Fetch platform.

• Smart TVs are increasingly including streaming applications as part of their software, removing the need for an additional box.

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18,000
16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
Jun-19 Dec-19 Jun-20 Dec-20 Jun-21
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Marketing

Cost Per Acquisition (CPA)

Highly competitive market in the second half due to NBN’s Focus on Fast program.

• $26.3m marketing expenses for the year, with $16.6m in the second half.

• We launched a new brand campaign in 2H FY21 which contributed to an increase in prompted brand awareness from 33% (May 2020) to 54% (May 2021).

• Cost Per Acquisition increased significantly in 3Q FY21 due in part to NBN’s Focus on Fast program, which led to a number of competitive offers in market.

• Despite a challenging environment our share of net nbn orders continued to grow significantly, reaching 25.8% in June 2021.

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Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21
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Share of Net Service Activation Orders (NSAO)

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30%
25%
20%
15%
10%
5%
0%
Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21
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Customer experience

4.5/5 from 5946 reviews on

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• 4.3/5 from 2666 reviews on

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• Customer satisfaction remained high even through a price rise period of September to December 2020.

• Winner Customer Service Organisation of the Year,

• Large Business – Australian Service Excellence Awards.

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4.8/5 from 1974 reviews on

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CUSTOMER
SATISFACTION
AWARDS
ROY MORGAN
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Annual Results FY21

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Financial performance

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2021 2020 Movement
$m $m %
Revenue 350.3 190.5 84%
Network and hardware expenses (252.0) (145.7) 73%
Gross margin 98.3 44.8 119%
Gross margin % 28.1% 23.5% -
Employee expenses (41.3) (22.9) 81%
Marketing expenses (26.3) (11.2) 134%
Administration and other expenses (11.6) (7.1) 62%
EBITDA before IPO expenses and fair value adjustments 19.1 3.6 433%
IPO expenses (1.2) (0.4) 217%
Depreciation and amortisation (7.6) (5.5) 37%
Interest expenses (2.3) (7.0) (68%)
Interest income 0.1 0.1 (9%)
Change in fair value of derivative (12.3) (3.0) 312%
Loss before income tax benefit (4.2) (12.3) (66%)
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• Residential revenue increased by 84% for the year and Business revenue by 83%.

• Gross margin improved through shift to higher margin, high speed plans and the capping of CVC costs through to January 2021.

• Further contribution from termination of low/no margin ADSL services in September 2020.

• Employee expenses increased modestly lower than revenue increase. Operating leverage mitigated by the increase in middle management staff and additional roles and skill sets related to becoming a listed entity.

• Marketing expenses were $26.3m for the year, with $16.6m in the second half.

• Administration costs increased at a lower rate than revenue but include costs associated with being a listed entity.

• Depreciation and amortisation increased as network infrastructure was upgraded.

• Interest expenses included interest associated with the convertible note.

• The Group has incurred a current tax charge of $654k and a deferred tax benefit of $314k. The tax charge arose due to the convertible note related costs being capital in nature from a tax perspective, and restrictions on the use of the brought forward tax losses in the current period due to the "available fraction" mechanics.

Historical financial performance

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Revenue Growth $m
400.0
350.0
300.0
250.0
200.0
150.0
100.0
50.0
0.0
2018 2019 2020 2021
Residential Revenue Business Revenue
CAGR = 91%
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EBITDA $m
25.0
20.0
15.0
10.0
5.0
0.0
-5.0
2018 2019 2020 2021
CAGR = 229%
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• Residential Revenue CAGR of 100% since 2018.

• Business CAGR lower (56%) representing a growth opportunity.

• EBITDA in FY21 assisted by active CVC management & COVID relief from NBN.

• Some future operating leverage anticipated but CVC headwinds will need to be mitigated.

aussiebroadband.com.au

Looking ahead

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Completing the fibre build

Continue to build scale

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Business

Connectivity at our core

• Connectivity has been at the core of our business offering for over 17 years, primarily internet access and private MPLS (multi protocol label switching) networks.

• Other services like Voice (Single Line VoIP, SIP Trunks and Hosted Phone) and Mobile (Handset and data-only plans) have also been part of the offering.

• Carbon our business portal has enabled rapid turn up of connectivity services and supports over 400 managed service providers.

Products under development

• Integrate all existing and new product sets into Carbon.

• Security – Fortinet firewall and SD-WAN solutions.

• Managed hardware – Wifi, switching, and other hardware solutions.

Changing to be solutions focused

• Provide a ”one stop shop” for customers' communications and IT requirements.

• Expert design, advice and implementation of solutions rather than just selling connections that the customer or 3rd parties integrate.

• Business development managers and key account managers that are responsive, technology focused and are supported by skilled solution engineers.

• Enable around the clock support by team members that know and understand the customer's environment, solution and unique requirements.

• Proactive monitoring of the solution so that issues are identified before the customer even notices them.

• Provide market leading tools and portals so that customers that want to self manage have their whole solution at their fingertips.

• Cloud – customer or Aussie Broadband managed cloud services.

aussiebroadband.com.au

Business

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Call Centre Relationship
Volume based sales Business development
channel that provides managers and solutions
solutions for single site and engineers who build
non complex multi-site packages for multi-site
businesses. Inbound and businesses and create
outbound lead generation custom solutions.
for relationship sales team.
Multi channel approach
Partnership Tender
Through Carbon, partner Dedicated tender team
with managed service (writers and solution engineering)
providers who are the that ensure we are on all
trusted advisors of business government panels and
and who can develop more respond to both public
complex solutions. and private tenders/
requests for pricing
in market.
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Industry leading automation & control

• Single platform that enables businesses and partners to quote, service qualify, connect, modify and manage nbn services in minutes all through a single platform.

• Manage complex solutions using a simple interface.

• Over 400 partners now signed up and using Carbon including a major corporate customer with over 3000 services.

• Next evolution of Carbon is under development to enable all Aussie Broadband products to be sold and managed through Carbon.

• Will provide a demonstration of Carbon at our first investor day in 2Q FY22.

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aussiebroadband.com.au

Residential

Focused on increasing services per customer

• Increasing attachment rate of additional services across both new

• and existing customers, particularly in mobile.

• Continue to grow broadband subscribers and win market share away from the big 4 by continuing our focus on great customer experience whilst exploring other channels to market.

• Exploring more bolt-on services for the home.

• Continue to evolve MyAussie app to enable more customer self service.

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23.
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Indirect channels

Four distinct areas that will allow organisations to partner with Aussie Broadband to add value to their customers and to provide incredible customer experiences.

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Premium offering Strategic channel of partners MSP partners/IT integrators Aussie Broadband branded to limited partners selling under the Aussie leveraging Aussie sales rewarding not-for-profit across Australia in nonBroadband brand. infrastructure bundles with partners that give back to the competing segments. Customer belongs to Aussie. their services. community.

aussiebroadband.com.au

1H FY22 outlook

Achieving continued growth

• Record broadband and mobile sales months in July and August.

• Gross broadband sales (all channels) - 23,229 for July & 24,756 for August.

• Commenced accepting orders through the new white label platform on 19 July, with daily order volume already exceeding initial forecast and expectations.

• Migration of 32,000 white label broadband services onto the Aussie Broadband network to now commence in 2Q FY22 due to customer request.

• CVC utilisation due to COVID-19 lockdowns in a number of states continues to be challenging. NBN has announced that it will continue to provide lockdown CVC relief for August and September which will assist in partly mitigating increase in CVC expense.

Guidance

• Due to the dynamic and changing nature of the retail telecommunications market, ongoing lockdowns and the impact on CVC expense, the company will not be providing guidance for FY22.

• The company will continue to provide quarterly market updates in a similar format to the 4Q FY21 market update. Management will hold an investor call following each quarterly market release including a Q&A session.

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Capital Raising

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Use of Proceeds

Actively seeking M&A opportunities

1. M&A

Acquisition & integration expenditure.

2. Product & technology development

Support additional investments in new products and technology, primarily in the business segment.

3. Further network investment

The company is assessing potential new network assets that would provide further margin improvement.

• As previously disclosed to the market in its FY21 results presentation, Aussie Broadband is actively seeking M&A opportunities, in particular capability and customer base acquisitions, in both the residential and business segments. This is consistent

• with Aussie Broadband's intention of pursuing further growth opportunities including acquisition opportunities, as noted in its IPO prospectus.

• Aussie Broadband has a strong and developing pipeline of acquisition opportunities. Aussie Broadband has identified several accretive acquisition opportunities that it intends to pursue following completion of the equity capital raising.

• Aussie Broadband is in preliminary discussions with a range of targets of various sizes, to acquire telecommunication businesses in the residential, business and enterprise segments, customer bases, and business which add key product or knowhow capability.

• Expecting to make at least one acquisition in 1H FY22, though discussions with counter-parties are at an early stage.

• It is expected that the majority of the capital raise will be used for M&A activity.

• The Offer provides in excess of $120 million of additional acquisition funding capacity.

• Aussie Broadband has not currently progressed any acquisition opportunity so as to require additional disclosure. Aussie Broadband expects to progress these acquisitions, including making relevant disclosures, post completion of the Offer.

Offer Details

• Institutional placement to raise $114.0 million.

Offer structure and details

• Issue of approximately 28.5 million new shares, equivalent to approximately 15.0% of the Company’s current shares on issue of 190.3 million.

• Share Purchase Plan capped at $10m, offering all existing shareholders the opportunity to subscribe for up to $30,000 each in new shares at the Offer Price (the Company reserves the right to accept oversubscriptions subject to demand).

• Proceeds from the Offer will be used to enhance Aussie Broadband’s overall financial strength by providing balance sheet flexibility in relation to pursuing accretive and strategic future acquisition opportunities, accelerate investment in network, infrastructure, product and technology development and pay offer costs.

Use of proceeds

• As noted in its IPO prospectus, Aussie Broadband's long-term business strategy includes pursuing acquisition opportunities. At any time, Aussie Broadband is actively considering and evaluating a range of opportunities and holding confidential discussions with potential vendors. However, there can be no assurance that any of these opportunities will eventuate.

• The offer will be conducted at $4.00 per New Share (Offer Price), which represents 13.6% discount to the

• Offer price last closing price of $4.63 and a 2.6% discount to the previous 10-day volume-weighted average price of the company’s shares traded on the ASX up to and including 6 September 2021.

Ranking

• New shares issued under this Offer will rank equally with existing Aussie Broadband shares from their respective issue dates.

aussiebroadband.com.au

Key Dates

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Trading Halt Tuesday, 7 September 2021
Placement Bookbuild Tuesday, 7 September 2021
SPP Record Date 7pm (AEST) Tuesday, 7 September 2021
Announce placement Wednesday, 8 September 2021
Trading Halt Lifted – ASX trading resumes Wednesday, 8 September 2021
Settlement New Shares Under Placement Tuesday, 14 September 2021
Allotment and normal trading New Placement Shares Wednesday, 15 September 2021
Expected dispatch of SPP offer documents to eligible Wednesday, 15 September 2021
shareholders and SPP offer opening date
Expected SPP offer closing date 5.00pm (AEST) Friday, 1 October 2021
Announce results of SPP Wednesday, 6 October 2021
Allotment and normal trading of new shares under SPP Friday, 8 October 2021
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Apart from the SPP Record Date, the above timetable is indicative only and is subject to change.

Appendix 1 - Key Risks

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Introduction

This section outlines some of the key risks associated with an investment in Aussie Broadband shares. This is not an exhaustive list of the relevant risks and the risks set out below are not in order of importance.

Additional risks not presently known to Aussie Broadband, or that are not presently considered by Aussie Broadband to be material, may also become important factors that adversely affect Aussie Broadband. If any of the following risks materialise, Aussie Broadband’s business, financial condition and financial performance, and the price of its shares may be adversely affected. Investors should note that the occurrence or consequences of some of the risks described in this section are partially or completely outside of the control of Aussie Broadband, its directors and senior management.

Before making any investment decision, potential investors should read this presentation in its entirety and carefully consider the risks outlined in this section. You should also read this presentation in conjunction with Aussie Broadband’s other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange (“ASX”), which are available at www.asx.com.au (ASX:ABB). You should also have regard to your own investment objectives, financial situation and particular needs, and consider consulting your financial or legal adviser for professional guidance.

The risks are categorised as follows:

1. Key Business Risks; and 2. General Risks.

References to Aussie Broadband in the key risks section of this presentation include Aussie Broadband and its related bodies corporate (as defined in the Corporations Act), where the context requires.

1. Key Business Risks

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Topic Summary
NBN Rollout The competitive landscape of the Australian telecommunications industry is influenced
by the Australian Government’s rollout of the NBN, which is intended to increase
industry competition. Accordingly, any changes to existing policies of NBN Co
regarding the rollout of the NBN could result in increased competition in the Australian
retail broadband market.
Population The future growth and performance of Aussie Broadband and demand for its services
growth and will in part, be influenced by the level of population growth, housing construction and
new dwelling home relocations. Whilst COVID-19 has not had a material impact on the Company's
construction performance as at the date of this presentation, there is a risk that if the spread
of COVID-19 continues, and/or the actions taken to combat COVID-19 persist, the
Company's operational and financial performance could be adversely affected,
including by adverse impacts on population growth and/or new dwelling construction.
Product There is a risk that any initiatives undertaken by the Company to introduce new
development products or services or functionality may result in unforeseen costs or risks, may not
risks perform as intended or may not deliver the growth in customers.
Bandwidth A key aspect of the delivery of the Company's services is providing sufficient fixed line
and network broadband bandwidth for customers. If the Company were unable to deploy sufficient
requirements network infrastructure the Company's financial and operating performance may be
adversely affected.
Data security Protection of company, customer, employee and third-party data is critical to the
risk Company's ongoing business and the Company has adopted robust data protection
systems for this purpose. However, any failure of such systems may result in reputational
damage, regulatory impositions (such as for breaches of the Privacy Act 1988 (Cth))
and financial loss, including claims for compensation by customers or penalties by
telecommunications regulators or other authorities.
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Topic Summary
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Brand	The Company’s reputation and the value of its brand may be damaged as a result
maintenance	of negative customer or end-user experiences due to poor product performance or
	product failures, adverse media coverage or other publicity or disputes with customers,
	suppliers or employees. Erosion of the Company’s reputation as a result of one or a
	combination of these factors may adversely impact the Company’s ability to attract
	and retain customers, thereby affecting revenue performance and proftability.
Network	Various aspects of the Company's operations depend on the performance, reliability
infrastructure risk	and availability of its infrastructure technology. There is a risk that these technologies,
	platforms and systems may be adversely affected by a number of factors, including
	damage, equipment faults, power failure, computer viruses, misuse by employees or
	contractors, or external or malicious interventions, such as hacking, fre, natural disasters
	or weather interventions.
Design,	As the Company continues to construct its own backhaul fbre optic network,
construction, and	any major capital expenditure, project delays or unexpected costs associated with
development risk	the design, construction, and development may adversely impact the Company's
	operating results.

1. Key Business Risks

• Topic Summary Growth The Company has a number of strategies in place strategies to generate future growth and earnings, including the ongoing construction of an internally owned and operated fibre optic network. There is a risk that the implementation of these strategies will be subject to delays or cost overruns and there is no guarantee that these strategies will generate the customer demand, full financial benefits anticipated or result in future sales and earnings growth and may not deliver a return on investment.

• Acquisitions Aussie Broadband's long-term business strategy includes pursuing acquisitions. There can be no assurance that Aussie Broadband will identify suitable acquisition opportunities at acceptable prices, or successful execute those opportunities. To the extent that acquisitions are not successfully completed, Aussie Broadband will need to consider alternative uses for the proceeds of the Offer or options for returning capital.

In addition, Aussie Broadband's past and future acquisitions may be subject to unanticipated risks and liabilities, or may disrupt its operations. There is also a risk that the expected benefit of any acquisition will not be realised due to an inability to successfully integrate any acquired business. These types of integration risks may detract from the expected benefits contemplated by Aussie Broadband and affect the financial performance and growth of Aussie Broadband or damage the reputation and branding of Aussie Broadband. This may divert management's attention and resources from Aussie Broadband's day to day operations.

2. General Risks

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Topic Summary
Macroeconomic and The performance of Aussie Broadband will continue to be influenced by the overall condition of the
Socioeconomic factors economy in Australia and any deterioration in employment or economic growth could adversely
affect Aussie Broadband's business.
In light of recent Australian and global macroeconomic events, including though not limited to the
impact of COVID-19, Australia may experience an economic recession or downturn of uncertain
severity and duration will which continue to impact on the operating and financial performance and
prospects of Aussie Broadband and continue to impair Aussie Broadband's business and prospects.
Other socioeconomic and macroeconomics factors could have a material adverse impact on Aussie
Broadband's business and financial performance, including unemployment rates, lower household
income levels and lower birth rates.
General market and There are general risks associated with any investment in the share market. The price of Aussie
share price risks Broadband shares may increase or decrease due to a number of factors. Those factors include
fluctuations in domestic or global financial markets and general economic conditions, including
interest rates, inflation rates, exchange rates, commodity and oil prices, changes to government fiscal,
monetary or regulatory policies, legislation or regulation, the removal or inclusion of Aussie Broadband
from market indices, and the nature of markets in which Aussie Broadband operates.
Tax and accounting Australian accounting standards and tax laws (including GST and stamp duty taxes), or the way they
are interpreted, are subject to change from time to time, which may impact Aussie Broadband’s
financial position or performance.
Dividends There are a range of factors that determine the payment of dividends on Aussie Broadband’s shares.
These include the profitability of the business, its cash reserves, future capital requirements and
obligations under debt facilities. Aussie Broadband’s Board will determine any future dividend levels
based upon Aussie Broadband's operating results and financial standing at the time. There is no
guarantee that any dividend will be paid by Aussie Broadband, or guarantee that future dividends will
equal or exceed previous payments.
Litigation Legal proceedings and claims may arise from time to time in the ordinary course of Aussie
Broadband’s business and may result in high legal costs, adverse monetary judgments and/
or damage to Aussie Broadband’s reputation which could have an adverse impact on Aussie
Broadband’s financial position or performance and the price of its shares.
Forward-looking The forward-looking statements, opinions and estimates provided in this presentation rely on various
information contingencies and assumptions. Various factors and risks, both known and unknown, many of which
are outside the control of Aussie Broadband, may impact upon the performance of Aussie Broadband
and cause actual performance to vary significantly from expected results. There can be no guarantee
that Aussie Broadband will achieve its stated objectives or that forward-looking statements or forecasts
will provide to be accurate.
Other risks For further information in relation to other risks which might affect Aussie Broadband, please refer to
Aussie Broadband’s 2021 Annual Report announced to market on 30 August 2021.
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aussiebroadband.com.au

Appendix 2 - Selling Restrictions

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This document does not constitute an offer of new ordinary shares (“New Shares”) of Aussie Broadband in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any person, and the New Shares may not be offered or sold, in any country outside Australia except to the extent permitted below.

Hong Kong

WARNING: This document has not been, and will not be, registered as a prospectus under the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32 of the Laws of Hong Kong), nor has it been authorised by the Securities and Futures Commission in Hong Kong pursuant to the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong) (the "SFO"). No action has been taken in Hong Kong to authorise or register this document or to permit the distribution of this document or any documents issued in connection with it. Accordingly, the New Shares have not been and will not be offered or sold in Hong Kong other than to "professional investors" (as defined in the SFO).

No advertisement, invitation or document relating to the New Shares has been or will be issued, or has been or will be in the possession of any person for the purpose of issue, in Hong Kong or elsewhere that is directed at, or the contents of which are likely to be accessed or read by, the public of Hong Kong (except if permitted to do so under the securities laws of Hong Kong) other than with respect to the New Shares that are or are intended to be disposed of only to persons outside Hong Kong or only to professional investors (as defined in the SFO and any rules made under that ordinance). No person allotted the New Shares may sell, or offer to sell, such securities in circumstances that amount to an offer to the public in Hong Kong within six months following the date of issue of such securities.

The contents of this document have not been reviewed by any Hong Kong regulatory authority. You are advised to exercise caution in relation to the offer. If you are in doubt about any contents of this document, you should obtain independent professional advice. This document may not be reproduced in any form or transmitted to any person other than the person to whom it is addressed.

New Zealand

This document has not been registered, filed with or approved by any New Zealand regulatory authority under the Financial Markets Conduct Act 2013 (the "FMC Act"). The New Shares are not being offered or sold in New Zealand (or allotted with a view to being offered for sale in New Zealand) other than to a person who:

Singapore

This document and any other materials relating to the New Shares have not been, and will not be, lodged or registered as a prospectus in Singapore with the Monetary Authority of Singapore. Accordingly, this document and any other document or materials in connection with the offer or sale, or invitation for subscription or purchase, of New Shares, may not be issued, circulated or distributed, nor may the New Shares be offered or sold, or be made the subject of an invitation for subscription or purchase, whether directly or indirectly, to persons in Singapore except pursuant to and in accordance with exemptions in Subdivision (4) Division 1, Part XIII of the Securities and Futures Act, Chapter 289 of Singapore ("SFA"), or as otherwise pursuant to, and in accordance with the conditions of any other applicable provisions of the SFA.

This document has been given to you on the basis that you are (i) an existing member of the Company, (ii) an "institutional investor" (as defined in the SFA) or (iii) an "accredited investor" (as defined in the SFA). In the event that you are not an investor falling within any of the categories set out above, please return this document immediately. You may not forward or circulate this document to any other person in Singapore.

Any offer is not made to you with a view to the New Shares being subsequently offered for sale to any other party. There are onsale restrictions in Singapore that may be applicable to investors who acquire New Shares. As such, investors are advised to acquaint themselves with the SFA provisions relating to resale restrictions in Singapore and comply accordingly.

United States

This presentation does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in the United States. The New Shares to be offered and sold in the Offer have not been, and will not be, registered under the U.S. Securities Act 1933, as amended ("U.S. Securities Act"), or the securities laws of any state or other jurisdiction of the United States, and may not be offered and sold to, directly or indirectly, any person in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. There will not be a public offer of the New Shares in the United States. This presentation may not be distributed or released in the United States.

• is an investment business within the meaning of clause 37 of Schedule 1 of the FMC Act;

• meets the investment activity criteria specified in clause 38 of Schedule 1 of the FMC Act;

• is large within the meaning of clause 39 of Schedule 1 of the FMC Act;

• is a government agency within the meaning of clause 40 of Schedule 1 of the FMC Act; or

• is an eligible investor within the meaning of clause 41 of Schedule 1 of the FMC Act.

aussiebroadband.com.au

Appendix 3 - Financials

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Financial position

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2021 2020 Movement
$m $m %
Cash and cash equivalents 57.0 21.4 166%
Trade and other receivables 16.9 11.4 49%
Plant and equipment 17.4 5.4 222%
Right-of-use assets 12.3 12.4 (1%)
Other assets 13.3 6.9 92%
Total assets 116.9 57.5 103%
Trade and other payables 26.8 16.1 66%
Contract liabilities 15.8 10.8 47%
Current tax liabilities 0.6 – –
Lease liabilities 10.6 11.5 (9%)
Debt – 37.6 (100%)
Other liabilities 3.6 2.2 62%
Total liabilities 57.4 78.2 (27%)
Net assets 59.5 (20.7) 387%
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• Cash has increased by $35.6m following the IPO and better than forecast EBITDA.

• Trade debtors are at historical levels. A COVID related deterioation during the year had been ameliorated by year end.

• Plant & Equipment growth is related to the ongoing construction of the optic fibre network.

• Other asset increases include higher inventory levels to address global chip shortages and the recognition of a deferred tax asset.

• Trade creditors and contract liabilities increase is broadly related to growth in size of business.

• Current tax liability recognised due to limits on current year utlisation of losses.

aussiebroadband.com.au

Cash flow

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2021 2020
$m $m Movement
Receipts from customers (inclusive of GST) 384.7 209.3 84%
Payments to suppliers & employees (inclusive of GST) (359.2) (201.2) 79%
Net interest payments (0.2) (1.2) (82%)
Operating cash flows 25.3 6.9 267%
Payments for PPE (15.0) (3.9) 285%
Payments for intangibles (2.1) (1.5) 40%
Proceeds from disposal of asset 0.0 0.1 (99%)
Investing cash flows (17.1) (5.4) 220%
Lease payments (6.0) (3.9) 54%
Net proceeds of Convertible Note – 23.4
– –
Repayment of debt (5.5)
Net proceeds of IPO 37.4 – –
Other 1.5 (0.1) (1283%)
Financing cash flows 27.4 19.4 41%
Net increase in cash and cash equivalents 35.6 20.9 70%
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• Strong EBITDA cash conversion with EBITDA ahead of forecast.

• $5.5m of external debt repaid during the year.

• Net proceeds of IPO boosted the cash reserves to fund the ongoing development of the optic fibre network.

Appendix 4 - Aussie Broadband Fibre Network

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Victoria

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Bendigo POI
South Morang POI
Reservoir POI
Ballarat POI
Kings Park POI Thornbury POI
North Ringwood POI
Balwyn POI Lilydale POI
Footscray POI
Kew POI
Nunawading Depot POI
Hawthorn POI
Caulfield POI
Port Melb
Depot POI St Kilda Wheelers Hill POI
POI
Keysborough POI
Werribee POI Cheltenham Dandenong POI
POI
Melbourne
Geelong POI
Cranbourne
POI
Karingal
POI
Colac
Mt Eliza POI
© Mapbox, © OpenStreetMap
Warrnambool
Pakenham
Traralgon POI
Warragul
Interactive DC
Tullamarine POI Next DC M2
Equinix ME1 Next DC M1 Vocus DC Exhibition POI
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Legend

ABB owned Fibre Leased Fibre VicTrack Swap Fibre

Stats:

• 5 Data centres, and 28 of 30 NBN POIs connected to ABB owned or leased fibre.

• 331km of ABB owned fibre.

New South Wales & ACT

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Windsor POI
Asquith Depot POI
Castle Hill POI
Penrith POI
Blacktown POI
Frenchs
Forest POI
Eastern Creek Pendle Hill POI
Depot POI
Parramatta POI Chatswood
POI
Ryde POI
St Leonards POI Mosman POI
Global
Lidcombe POI Switch
Glebe POI Dalley POI
Carramar POI
Newtown POI City South
Edgecliff POI
Lakemba POI Equinix
Campsie POI SY3
Liverpool POI
Equinix SY4 Kensington POI
Equinix SY1/2
Peakhurst POI
Rockdale POI
Sydney
Miranda POI
© Mapbox, © OpenStreetMap
Next DC S1 Next DC S2
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NextDC C1
Civic POI
Canberra
Queanbeyan POI
© Mapbox, © OpenStreetMap
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Legend

ABB owned fibre Leased fibre

Stats:

• 7 Data centres, and 28 of 43 NBN POIs connected to ABB owned or leased fibre.

• 311km of ABB owned fibre.

aussiebroadband.com.au

Queensland

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Petrie POI
Aspley Depot POI
Aspley POI
Next DC B2
Over The Wire
Next DC B1 Brisbane
Woolloongabba POI
Bundamba POI
Camp Hill POI
Ipswitch POI
Acacia Ridge
Goodna POI Depot POI
Eight mile POI
Stacks Creek POI
Polaris DC
Nerang POI
Southport POI
Merrimac POI
© Mapbox, © OpenStreetMap
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Stats:

• 4 Data centres, and 14 of 22 NBN POIs connected to ABB owned, IRU or leased fibre. • 236km of ABB owned fibre.

Legend

ABB owned fibre IRU and leased fibre

Western Australia & South Australia

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Wangara
Depot POI Elizabeth POI
Mullaloo POI
YourDC
Edinburgh
Next DC P1
Doubleview POI
Perth
Bassendean POI Greenfields
Depot POI
Modbury POI
Next DC P2
Subiaco POI
Adelaide
Bentley Depot POI
Prospect POI
Applecross Cannington POI
POI
Your DC
Edwardstown POI
Hawthorn
Pier DC
Hilton POI
St Marys POI
Kelmscott POI
Stirling POI
South Coogee POI Lonsdale Depot POI
© Mapbox, © OpenStreetMap © Mapbox, © OpenStreetMap
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Legend

ABB owned fibre Leased fibre

Stats:

• 5 Data centres, and 19 of 23 NBN POIs connected to ABB owned or leased fibre.

• 348km of ABB owned fibre.

aussiebroadband.com.au

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Authorised for release by the Aussie Broadband Board.

For media enquiries please contact Katrina Salhioui on 0448 110 962 For registry queries please contact Link Market Services on 1300 554 474 For other enquiries please email investors@team.aussiebroadband.com.au