CLOSE THE LOOP LTD. — Investor Presentation 2025

Aug 24, 2025

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FY25 Results Presentation | August 2025

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Disclaimer

The following disclaimer applies to this presentation. You should read this disclaimer carefully before reading or making any other use of this presentation or any information contained in this presentation. By accepting this presentation, you represent and warrant that you are entitled to receive this presentation in accordance with the restrictions, and agree to be bound by the limitations, contained within it. This presentation has been prepared by Close the Loop Limited ACN 095 718 317 (“Close the Loop Group”, “Close the Loop” or the “Company”) and does not constitute or form part of, and should not be construed as, an offer, solicitation or invitation to subscribe for, underwrite or otherwise acquire, any securities of Close the Loop or any member of its group nor should it or any part of it form the basis of, or be relied on in connection with, any contract to purchase or subscribe for any securities of Close the Loop or any member of its group, nor shall it or any part of it form the basis of or be relied on in connection with any contract or commitment whatsoever.

This presentation is not a prospectus, product disclosure statement or other disclosure document under Australian law (or any other law) and has not been lodged with the Australian Securities and Investments Commission (or any other regulatory body in Australia or abroad). This presentation contains summary information about Close the Loop and its related bodies corporate and their activities, which is current as at the date of this presentation. The information included in this presentation is of a general nature and does not purport to be complete nor does it contain all the information which a prospective investor should consider when making an investment decision.

Each recipient of this presentation should make its own enquiries and investigations regarding all information in this presentation including but not limited to the assumptions, uncertainties and contingencies which may affect the future operations of Close the Loop and the impact that different future outcomes

may have on Close the Loop. This presentation has been prepared without taking account of any person’s investment objectives, financial situation or particular needs. Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs, make their own assessment of the information and seek legal, financial, accounting and taxation advice appropriate to their jurisdiction in relation to the information and any action taken on the basis of the information.

The information included in this presentation has been provided to you solely for your information and background and is subject to updating, completion, revision and amendment and such information may change materially. Unless required by applicable law or regulation, no person (including Close the Loop) is under any obligation to update or keep current the information contained in this presentation and any opinions expressed in relation thereto are subject to change without notice. No representation or warranty, express or implied, is made as to the fairness, currency, accuracy, reasonableness or completeness of the information contained herein.

None of Close the Loop’s advisers, directors, officers, employees or agents have authorised, permitted or caused the issue, despatch or provision of this presentation nor, except to the extent referred to in this presentation, made or purported to make any statement in this presentation. Neither Close the Loop nor any other person accepts any liability and Close the Loop, its related bodies corporate and advisers their respective directors, officers and employees, to the maximum extent permitted by law, expressly disclaim all liabilities and responsibility for any loss howsoever arising, directly or indirectly, from this presentation or its contents.

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Investor Presentation FY25 Results Schedule

Agenda

4. Business Overview

8. Strategic Initiatives

12. Financial Statements

16. Outlook

18. Investor enquiries

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Presenters

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Kesh Marc Matthew Nair Lichtenstein Zimmer Executive Group Chief CEO Director Financial Officer United States & CEO Australia

Kesh is the Executive Marc is Group CFO and Matthew is the CEO Director of Close the has been with the of the North Loop and has group since 2017. Marc American ITAD worked with CLG for is an accomplished and business. Matthew 17 years. Throughout purpose driven senior brings a wealth of his tenure, Kesh had executive with deep experience and a led numerous cross functional proven track record strategic initiatives, experience spanning in ITAD. With deep including product finance, strategy, M&A, industry knowledge development & governance and risk Matt delivers strong sales/marketing. management. business outcomes.

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Business Overview Stabilising and Reset for Growth

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Business Overview

Divisional Summary

01 Resource Recovery (ITAD)

• Information Technology Asset Disposition (ITAD) includes the refurbishment of laptops, printers, computing, gaming accessories for resale via network in addition to the recycling of printer cartridges

• Customers are primarily global Original Equipment Manufacturers (OEMs) of computer equipment

• Key revenue drivers include consumer electronic sales and recycling of print consumables whilst expanding into new geographies

• Hardware supply agreements with key OEMs allow returned goods to be refurbished, repaired and re-sold through established sales channels. Printer cartridge collection operates on a fixed fee per cartridge, supplemented by managed services

• Globally, 1.3bn inkjet cartridges are sold per annum, with 15%20% recycled. Cartridge network of 260k collection points in US, Australia, and Europe, processing c.50m cartridges p.a.

02 Packaging

• Made to order reusable (environmentally friendly) packaging flexibles, & pouches.

• Key clients include major Fast-Moving Consumer Goods (FMCG) manufacturers, with product ranges spanning across consumer goods, confectionary, bulk bags, seafood, pet foods, and snacks

• Growing demand for eco-friendly packaging solutions is driving positive momentum within the packaging division

• Focused on cross-sell opportunities within existing customer base, a key management initiative to increase average revenue per customer

• Solution provides a ‘one-stop-shop’ . It enables a holistic outsourced packaging solution from design to end-product

• Future initiatives include expanding growth via product diversification into different categories including health and beauty

• Expanding R&D program toward a smart packaging design solution

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FY25 Performance Financial highlights mix in ITAD

FY25 FY25 FY25 Revenue Gross Profit Gross Margin 29.9% $195.1m $58.3m -6.7% on pcp -26.1% on pcp Vs 37.8% in pcp FY25 Adjusted FY25 Adjusted FY25 EBITDA EBITDA Margin NPBT 9.4% $18.4m ($20.1m) -59.0% on pcp Vs 21.5% in pcp Vs $14.4M in pcp

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FY25 Snapshot Realigning business, product mix in ITAD

Key Points

• Overall, the group experienced resilient demand in FY25, however earnings were materially impacted by an unfavourable shift in product mix resulting in lower FY25 EBITDA vs pcp

• New ITAD programs from an existing OEM client are anticipated to enable volume growth in FY26

• Approval received from the Manufacturing, Maquiladora, and Export Services Industry Program (IMMEX) to recycle computer hardware at the Mexicali Plant

• Strategic review of underperforming business units

• Key management appointments made in FY25 to improve operating performance including Kesh Nair Executive Director and CEO of Australia & Matthew Zimmer CEO of North America

• Private equity bid did not materialise, management focus is now on achieving organic growth in FY26

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Strategic Initiatives Key Objectives

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Strategy

OUR To be a leading recycling solutions and packaging business leading the way in the VISION circular economy

CUSTOMER We want to be considered the best in class with an incredible product suite PROMISE supported by outstanding customer service

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OUR MID-
TERM
STRATEGIC
GOALS
01 02 03 04 05
Improving Packaging Increasing OEM client Improve cost
cash Performance ITAD volumes expansion efficiencies
conversion to enhance
value
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OUR To service our customers with top quality products and provide sustainable returns GOAL to our shareholders

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Strategy Accelerating growth with focus

01 Improving cash conversion

to reduce debt and expand operations

• Improve cash conversion by the negotiation of faster payment terms, reducing inventory holding through quicker product listings, operational efficiency and employing a dynamic pricing model

• Leveraging credit lines to increase cash holdings. This shortens the cash conversion cycle, reduces working capital, and stabilises cash flow

• Restructuring to buy as one group will enable better purchasing terms and better cash management

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02 Packaging performance

to improve by building brand equity

• Source and sell high-quality products to build and maintain brand equity

• Expansion of our sales team, increasing share of wallet from loyal customers, and introducing incentives to capture new business

• Leverage our international footprint across Australia and South Africa, where we will unlock revenue opportunities through cross-selling and resource sharing to drive economies of scale

• • R&D investment will create proprietary IP and reposition CLG Packaging as a technology-driven leader

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Strategy Accelerating growth with focus

03

Increasing ITAD volumes to enhance value

by leveraging platform partnerships

• Expand globally by leveraging our partner network and collective selling power across the USA, Europe, and Asia-Pacific

• Capitalise on existing global contracts and customer relationships

• Differentiate by combining certified data security, transparent reporting & streamlined logistics to maximise asset value & support clients’ compliance and sustainability goals

• Every 3PL, recycler, & refurbishment partner supports ~15% of returns. CLG is building an end-to-end reverse supply chain to support OEM’s globally

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04 OEM client expansion

by focusing on key clientele to increase volume

• Dedicated to account management growth inside the existing customer base by servicing more volume in existing products and additional product lines

• New sales focus on OEM customer acquisition & multi-vendor collection program continued to expand across Europe, with more OEM’s joining

• Bundling of services, globally, to increase value accretion within existing accounts

• New centralised test image and standardised operational process has been established

• Single account, data, and visibility layer anywhere in the world

05 Improve cost efficiencies

by leveraging Mexicali volume capacity

• Shift in ITAD product volumes to the new Mexicali, Mexico facility will increase CLG’s operational cost efficiency

• Product refurbishment lines in the new facility have been established, with employees in place and ready to scale greater volumes processed

• Management is focusing on developing a proper hybrid strategy to maximise value with labour and materials and when value is best to sell as is or to a different channel. The goal is to optimise profitability by touch point

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Financial Statements Reset for FY26

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Balance Sheet

Enhancing financial stability

Key Points

• All bank debt has been classified as current due to a change in accounting standards

• Ongoing support of the bank facility which expires in 2029

• Bank covenants breached during the year, however complied with at the 30[th] June reporting date

• Current debt also consists of convertible notes with a related party

• Net debt increased to $53.5m vs $42.7 pcp primarily due to lower operating cashflow

• The lower receivables balance correlates with the lower payables and higher inventory. This is due to an increase in inventories in ITAD as the business scales

• Intangibles assets consist of customer relationships associated with prior acquisitions. The decrease in intangible assets reflects impairment of Close the Loop Plastic Recycling and O F Resource Recovery

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A$m	FY25	FY24	$ Change	% Change
Cash	32.3	40.6	(8.3)	(20.4)
Receivables	28.8	36.1	(7.3)	(20.2)
Inventory	24.1	20.0	4.1	20.5
Other	5.3	3.1	2.2	71.0
Total Current Assets	90.5	99.8	(9.3)	9.3
Investments	0.2	0.2	-	N/A
Property, plant and equipment	24.8	26.4	(1.6)	(6.1)
Right of Use Assets	28.5	23.8	4.7	19.7
Intangible Assets	124.7	142.8	(18.1)	(12.7)
Other	8.1	4.0	4.1	102.5
Total Non-Current Assets	186.3	197.2	(10.9)	(5.5)
Trade and Other Payables	15.9	20.9	(5.0)	(23.9)
Borrowings	85.4	14.3	71.1	Large
Lease Liabilities	4.3	3.8	0.5	13.2
Income Tax Payable	0.3	0.5	(0.2)	(40.0)
Provisions	2.4	3.5	(1.1)	(31.4)
Deferred Revenue	0.4	1.2	(0.8)	(66.7)
Other Current Liabilities	2.5	1.3	1.2	92.3
Total Current Liabilities	111.2	45.5	65.7	144.4
Borrowings	0.4	69.0	(68.6)	(99.4)
Lease Liabilities	26.3	21.6	4.7	21.8
Deferred Tax Liability	17.3	19.2	(1.9)	(9.9)
Other	0.1	0.1	-	N/A
Total Non-Current Liabilities	44.1	109.9	(65.8)	(59.9)
Net Assets	121.5	141.6	(20.0)	(14.1)
Net Debt	53.5	42.7	10.8	25.3

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Income Statement

EBITDA impacted by one-off costs

Key Points

• Reported revenue declined primarily due to lower recycling contribution (ITAD) and the closure of the O F Resource Recovery business (~$5M in FY25)

• Gross Profit declined due to change in product mix

• GP Margin reflected lower profitability

• CLG incurred several one-off costs in FY25 that are not anticipated to be repeated in FY26. Primary one-off costs include Mexicali & Kentucky ITAD start up costs, and O F Resource Recovery shutdown costs

• Adjusted EBITDA margin declined to 9.4% vs 21.5% pcp

• The decline in EBITDA performance was primarily due to reduced 30-day customer returns and growing ITAD inefficiency

• Net finance costs reduced to $8.2m vs $9.5m pcp due to the overall debt and interest rates decreasing

• Adjusted NPATA (excluding one-off items) reduced to $7.8M vs $25.9m pcp

A$m	FY25	FY24	$ Change	% Change
Revenue	195.1	209.0	(13.9)	(6.7)
(-) Cost of Goods Sold	(136.8)	(130.1)	(6.7)	(5.1)
Gross Profit	58.3	78.9	(20.6)	(26.1)
Gross Margin (%)	29.9%	37.8%	(7.9)	(20.8)
(+) Other Income	1.9	5.5	(3.6)	(65.5)
(-) Selling and Distribution Expense	(6.9)	(5.2)	(1.7)	32.7
(-) Administration Expense	(10.9)	(11.9)	1.0	(8.4)
(-) Employee Benefits	(21.9)	(17.9)	(4.0)	22.3
(-) Occupancy Costs	(5.8)	(4.5)	(1.3)	28.9
(-) Other Expense	(1.9)	-	(1.9)	N/A
(+) One off Costs	5.6	-	5.6	N/A
Adjusted EBITDA	18.4	44.9	(26.5)	(59.0)
EBITDA Margin (%)	9.4%	21.5%	-	-
One-Off Costs	(5.6)	-	(5.6)	N/A
EBITDA	12.8	44.9	(32.1)	(71.5)
(-) Depreciation & Amortisation	(24.7)	(21.0)	(3.7)	17.6
EBIT	(11.9)	23.9	(35.8)	(149.8)
(-) Net Finance Costs	(8.2)	(9.5)	(1.3)	(13.7)
Net Profit Before Tax	(20.1)	14.4	(34.5)	(239.6)
(-) Tax Expense	3.6	(3.0)	6.6	(220.0)
Net Profit After Tax	(16.5)	11.4	(27.9)	(244.7)
(+) Amortisation of Customer Contracts	16.7	14.7	2.0	13.6
(+) One off costs	5.6	-	5.6	N/A
Adjusted NPATA	7.8	25.9	(18.1)	(69.9)

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Cashflow Statement

Capex focused on Mexicali initiation

Key Points

• Operating cashflow lower due to overall financial performance

• Quick Cash Conversion / EBITDA of 92% above the expected rate with historical target rate of 75%.

• Capex was primarily to fund the investment in the Mexicali plant and CtL Plastic Recycling. Large reduction in capex in FY25 vs FY24

• Lease payments increased on last year which was attributable to the initiation of the Mexicali facility (2H25) and temporary warehouses

Capital Management

• Debt reduction a key priority for management in FY26 due to increased quarterly repayments

• Significant cash balance at 30th June

• Long-term support of the Group’s financiers

A$m	FY25	FY24	$ Change	% Change
(+) Cash Receipts (-) Cash Paid to Suppliers	204.1 (192.3)	205.2 (173.3)	(1.1) (19.0)	(0.5) 11.0
(+) Other Revenue	1.7	5.9	(4.2)	(71.2)
(-) Interest Paid	(5.1)	(8.2)	3.1	(37.8)
(-) Tax Paid	(3.6)	(7.9)	4.3	(54.4)
Operating Cashflow	4.8	21.7	(16.9)	(77.9)
Quick Cash Conversion / EBITDA (%)	92%	71%	-	-
(-) Capex	(3.3)	(10.1)	6.8	(67.3)
(-) Acquisitions	(0.8)	(9.5)	8.7	(91.6)
Investing Cashflow	(4.1)	(19.6)	15.5	(79.1)
(-) Proceeds from share issue	-	1.7	(1.7)	(100.0)
(+) Dividends Paid	(0.1)	(0.1)	-	N/A
(-) Lease Payments	(6.8)	(5.2)	(1.6)	30.8
(-) Net Proceeds from Borrowings	(2.3)	(7.7)	5.4	(70.1)
Financing Cashflow	(9.2)	(11.3)	2.1	18.6
Starting Cash	40.6	49.5	8.9	(18.0)
Net Cash flow	(8.5)	(9.2)	0.8	(8.7)
FX Impact	0.2	0.3	(0.1)	(33.3)
Ending Cash	32.3	40.6	8.3	(20.4)

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Outlook Focusing on key priorities

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Outlook Statement

FY26 organic growth focus

EXPANDING OEM MEXICALI PLANT TARGETING MANAGEMENT BUILDING REVERSE RELATIONSHIPS VOLUME INCREASE GROWTH EXPERTISE SUPPLY CHAIN GLOBALLY INITIATIVES LOGISTICS The company continues to The Mexicali plant was Targeting growth initiatives Key management CLG is building reverse strengthen relationships impacted by approval delay to expand market presence appointments will bring supply chain logistics for the with key OEM partners by in 1H25. This has been and strengthen CLG’s extensive industry expertise circular economy. expanding into new granted and anticipate that competitive position. and leadership, with a clear This includes refurbishment, jurisdictions and volumes will increase as the mandate to sharpen introducing additional business continues to shift By pursuing strategic operational focus and repair, recycling and an endopportunities, broadening to-end reverse supply chain product lines. volume from NA facility. expand globally. the customer base, and to support OEMs anywhere Management is leveraging Volumes anticipated to enhancing service Combined regional in the world. By becoming established infrastructure steadily increase throughout capabilities, CLG aims to knowledge and operational one encompassing solution to drive material volume FY26 as new initiatives are accelerate expansion while capabilities are expected to for its clients, CLG will win growth, and in doing so, brought online. delivering sustainable strengthen execution, more market share. creating long-term value value across our business. improve efficiencies, and for shareholders. capture growth opportunities in their respective markets.

CLG is building reverse supply chain logistics for the circular economy. This includes refurbishment, repair, recycling and an endto-end reverse supply chain to support OEMs anywhere in the world. By becoming one encompassing solution for its clients, CLG will win more market share.

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Investor enquiries: Daniel Ireland, DataIR 0428 607 884 investors@closetheloop.com.au

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