CLOSE THE LOOP LTD. — Investor Presentation 2026

Feb 22, 2026

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1H26 Results Presentation | February 2026

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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

1H26 Results Schedule

Agenda

4. Business Overview

9. Financial Statements

14. Outlook

16. Investor enquiries

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Presenters

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Kesh Nair

Executive Director & CEO Australia and South Africa

Kesh is the Executive Director of Close the Loop and has worked with CLG for 17 years. Throughout his tenure, Kesh has led numerous strategic initiatives, including product development & sales/marketing.

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Marc Lichtenstein

Group Chief Financial Officer

Marc is Group CFO and has been with the group since 2017. Marc is an accomplished and purpose driven senior executive with deep cross functional experience spanning finance, strategy, M&A, governance and risk management.

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Business Overview Stabilising and Reset for Growth

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Business Overview Divisional Summary

01 Resource Recovery and Recycling

• Information Technology Asset Disposition (ITAD) includes the refurbishment of laptops, printers, computing, gaming accessories for resale in addition to the refurbishment and recycling of print consumables

• Customers are primarily global Original Equipment Manufacturers (OEMs) of consumer electronics

• Key geographical locations in Australia, US, Europe & Asia

• Hardware supply agreements with key OEMs allow returned goods to be refurbished, repaired and re-sold through established sales channels.

• Zero waste to landfill — recovering a wide range of end-of-life materials, including electronics, print consumables, cosmetics and plastics, and repurposing outputs such as reclaimed toner and post-consumer soft plastics into products like asphalt additives.

• 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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1H26 Snapshot Strategic realignment underway

Key Points

• Revenue was higher in 1H26, ($92.3m +2%) despite a product mix shift in Resource Recovery and continued growth in the Packaging division

• The Group incurred a loss after tax of $26.9M, including a write down of $23.2M in intangible assets. Excluding the write down and one-off costs, the Group delivered 1H26 Underlying NPATA of $2.5M vs $5.7M in 1H25

• Management continued its strategic review of underperforming business units. This resulted in exiting Alliance Paper & O F Flexo within the Packaging division

• Packaging delivered strong organic growth, capitalising on growing sustainable packaging demand

• The Group complied with banking covenants throughout 1H26, with loans reclassified as non-current as at the 31st of December 2025

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Segment Overview Resource Recovery

Key Points

• Resource Recovery increased processing volumes in 1H26, introducing new collection programs complementing the traditional imaging/consumables business

• In North America, the Mexicali facility continues to ramp effectively, with improved throughput, expanding capacity, and increasing labour efficiency

• The European business continued to grow its pan-European multi-vendor collection program, which resulted in growing interest from all major print original equipment manufacturers

• Europe experienced continued momentum, winning new contracts and programs in 1H26

• Increase in Australian business driven by organic growth during the period, driven by new cosmetics customers and expanding relationships with existing clients

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Segment Overview Packaging

Key Points

• Packaging achieved organic revenue growth of ~18% compared to pcp, a strong performance. NPAT performance also improved as the division achieved operating leverage due to a fixed cost base

• Sales growth was attributable to the South African & Australian businesses due to increasing demand for premium/innovative flexible and carton packaging

• Moderate pricing pressure was experienced during 1H26, to enable the division to grow the client base

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

• Sustainable packaging continues to be an increasing trend, with this division benefitting from secular industry tailwinds

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Financial Statements Turnaround Underway

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1H26 Performance Financial highlights mix in ITAD

1H26 1H26 1H26 Revenue Gross Profit Gross Margin 34.9% $92.3m $32.2m +2% on pcp +10% on pcp Vs 32.4% in pcp 1H26 1H26 1H26 EBITDA EBITDA Margin NPBT 10.1% $9.3m ($28.6m) (23%) on pcp Vs 13.4% in pcp Vs ($1.3M) in pcp

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Income Statement

EBITDA lower due to higher opex

Key Points

• Revenue increased due to the higher performance from the Packaging division, which was offset by a decline in Resource Recovery contribution

• Gross Profit increased to $32.2m vs $29.4m pcp, due to improved margins across the Group

• EBITDA reduced to $9.3m vs $12.1m pcp, as the rise in Gross Margin didn’t offset the increase in opex during 1H FY26. This was reflected in a reduced EBITDA margin, which declined to 10.1% vs 13.4% pcp

• Net finance costs increased to $5.0m vs $3.8m pcp, attributable to increased interest payments during the reporting period

• Adjusted NPATA (excluding one-off items) reduced to $2.5M vs $6.3m pcp

A$m	1H26	1H25	$ Change
Revenue	92.3	90.7	1.6
(-) Cost of Goods Sold	(60.1)	(61.3)	1.2
Gross Profit	32.2	29.4	2.8
Gross Margin (%)	34.9	32.4	+250 bps
(+) Other Income	-	1.1	(1.1)
(-) Selling and Distribution Expense	(4.8)	(1.7)	(3.1)
(-) Administration Expense	(4.8)	(4.9)	0.1
(-) Employee Benefits	(9.5)	(9.6)	0.1
(-) Occupancy Costs	(3.6)	(2.2)	(1.4)
(-) Other Expenses	(0.2)	-	(0.2)
EBITDA	9.3	12.1	(2.8)
EBITDA Margin (%)	10.1	13.4	-330ps
(-) Depreciation & Amortisation	(32.9)	(9.7)	(23.2)
EBIT	(23.6)	2.4	(26.0)
(-) Net Finance Costs	(5.0)	(3.8)	(1.2)
Net Profit Before Tax	(28.6)	(1.4)	(27.2)
(-) Tax Expense	1.7	1.3	0.4
Net Profit After Tax	(26.9)	(0.1)	(26.8)
Adjusted NPATA	2.5	6.3	(3.8)

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Balance Sheet

Write-down reduces intangible assets

Key Points

• Intangibles decreased in 1H26, reflecting the impairment of assets associated with Close the Loop Renewed Solutions (ISP) and the sale of Alliance Paper & O F Flexo

• Bank debt has been reclassified as non-current in 1H26, with the Company adhering to renewed banking covenants

• Ongoing support of the bank facility, which expires in 2029

• Receivables balance was higher as at Dec ‘25, correlating with increasing revenue in 1H26

• Inventories decreased due to better processing in the ITAD business and the sale of Alliance Paper

• Right of Use Assets and Lease Liabilities reduced, due to the sale of non-core business operations

• Net debt increased to $57.0m vs $53.5m Jun ’25, primarily due to costs associated with divested businesses and increased finance costs

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A$m	Dec 25	Jun 25	$ Change
Cash	24.2	32.3	(8.1)
Receivables Inventory	29.3 23.6	28.8 24.1	0.5 (0.5)
Other	7.8	5.3	2.5
Total Current Assets	84.9	90.5	(5.6)
Investments	0.2	0.2	0.0
Property, plant and equipment	22.5	24.8	(2.3)
Right of Use Assets	23.4	28.5	(5.1)
Intangible Assets	92.6	124.7	(32.1)
Other	11.7	8.1	3.6
Total Non-Current Assets	150.4	186.3	(35.9)
Trade and Other Payables	15.4	15.9	0.5
Borrowings	30.4	85.4	55.0
Lease Liabilities	4.0	4.3	0.3
Income Tax Payable	2.5	0.3	(2.2)
Provisions	2.4	2.4	0.0
Deferred Revenue	0.2	0.4	0.2
Other Current Liabilities	1.4	2.5	1.1
Total Current Liabilities	56.3	111.2	54.9
Borrowings	50.8	0.4	(50.4)
Lease Liabilities	23.7	26.3	2.6
Provisions	0.3	0.1	(0.2)
Deferred Tax Liability	14.9	17.3	2.4
Total Non-Current Liabilities	89.7	44.1	(45.6)
Net Assets	89.3	121.5	(32.2)
Net Debt	57.0	53.5	(3.5)

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Cashflow Statement

One-off costs impact cashflow

Key Points

• Operating cashflow lower due to overall financial performance and costs incurred to divest non continuing assets

• Capex was primarily to fund the investment in the Mexicali plant, with no significant future capex anticipated going forward

• Lease payments reduced on pcp, attributable to the cessation of discontinued operations

Capital Management

• Debt reduction remains a key priority for management

• • Management continue to assess non-core businesses within the group, seeking divestment opportunities

• Significant cash balance as at 31[st] December 2025, with ending cash balance of $24.2m

• Long-term support of the Group’s financiers remains

A$m	1H26	1H25	$ Change
(+) Cash Receipts	92.0	107.9	(15.9)
(-) Cash Paid to Suppliers	(93.4)	(102.7)	9.3
(+) Other Revenue	0.2	1.3	(1.1)
(-) Interest Paid	(3.6)	(1.7)	(1.9)
(-) Tax Paid	(0.1)	(2.2)	2.1
Operating Cashflow	(4.9)	2.6	(7.5)
(-) Capex	(0.6)	(2.0)	1.4
(-) Acquisitions	0.0	(0.2)	0.2
Investing Cashflow	(0.6)	(2.2)	1.6
(-) Lease Payments	(0.8)	(3.1)	2.3
(-) Net Proceeds from Borrowings	(1.9)	(0.3)	(1.6)
Financing Cashflow	(2.7)	(3.4)	0.7
Starting Cash	32.3	40.6	(8.3)
Net Cash flow	(8.2)	(3.0)	(5.2)
FX Impact	0.1	0.2	(0.1)
Ending Cash	24.2	37.8	(13.6)

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Outlook Focusing on key priorities

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Outlook Statement

2H26 key business focus

EXPANDING OEM STRATEGIC RELATIONSHIPS REVIEW GLOBALLY UNDERWAY

TARGETING MANAGEMENT GROWTH EXPERTISE INITIATIVES

The company continues to The company has identified Targeting growth initiatives Recent key management strengthen relationships potential divestment to expand market presence appointments will bring with key OEM partners by opportunities for non-core and strengthen CLG’s extensive industry expertise expanding into new business units for share and competitive position. and leadership, with a clear jurisdictions and or asset sales for the mandate to sharpen introducing additional businesses that are no By pursuing strategic operational focus and opportunities, broadening product lines. longer considered expand globally. the customer base, and complementary to the Management is leveraging enhancing service Combined regional Group. This remains a key established infrastructure capabilities, CLG aims to knowledge and operational priority for management. to drive material volume accelerate expansion while capabilities are expected to growth, and in doing so, delivering sustainable strengthen execution, creating long-term value value across our business. improve efficiencies, and for shareholders. capture growth opportunities in their respective markets.

BUILDING REVERSE SUPPLY CHAIN LOGISTICS

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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