COSOL LIMITED — AGM Information 2021

Nov 17, 2021

==> picture [211 x 169] intentionally omitted <==

FY’21 Annual General Meeting

November 18, 2021

==> picture [42 x 106] intentionally omitted <==

Important Notices & Disclaimer

==> picture [82 x 82] intentionally omitted <==

USE OF THIS DOCUMENT

You must read the following notices before reading or making any use of this document or any information contained in this document. By continuing to read, use or otherwise act on this document, you agree to be bound by the following terms and conditions, including any modifications to them, and make or give the acknowledgements, representations or warranties (as applicable).

This presentation is provided for information purposes only. The information in this presentation is in a summary form, does not purport to be complete and is not intended to be relied upon as advice to investors or other persons. The information contained in this presentation was prepared by COSOL Limited (COSOL) as of its date, and remains subject to change without notice. This presentation has been provided to you solely for the purpose of giving you background information about COSOL.

This presentation should be read in conjunction with COSOL's other periodic and continuous disclosure announcements lodged with ASX, including COSOL’s Annual Report for the financial year ended 30 June 2021.

NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES

This document is not to be distributed or released in the United States.

FORWARD-LOOKING STATEMENTS

This presentation may include forward-looking statements. Such statements can generally be identified by the use of words such as 'may', 'will', 'expect', 'intend', 'plan', 'estimate', 'anticipate', 'believe', 'continue', 'objectives', 'outlook', 'guidance‘, ‘forecast’ and similar expressions. Indications of plans, strategies, management objectives, sales and financial performance are also forward-looking statements.

Such statements are not guarantees of future performance, and involve known and unknown risks, uncertainties, assumptions, contingencies and other factors, many of which are outside the control of COSOL. No representation is made or will be made that any forward-looking statements will be achieved or will prove to be correct. Actual results, performance, operations or achievements may vary materially from any forward-looking statements. Circumstances may change and the contents of this presentation may become outdated as a result. Readers are cautioned not to place undue reliance on forward-looking statements and COSOL assumes no obligation to update such statements.

No representation or warranty, expressed or implied, is made as to the accuracy, reliability, adequacy or completeness of the information contained in this presentation.

PAST PERFORMANCE

Past performance information given in this presentation is given for illustrative purposes only and should not be relied upon as (and is not) an indication of future performance.

NOT FINANCIAL PRODUCT ADVICE OR OFFER OF SECURITIES

This presentation is not, and is not intended to constitute, financial advice, or an offer or an invitation, solicitation or recommendation to acquire or sell COSOL shares or any other financial products in any jurisdiction and is not a prospectus, product disclosure statement, disclosure document or other offering document under Australian law or any other law. This presentation also does not form the basis of any contract or commitment to sell or apply for securities in COSOL or any of its subsidiaries. It is for information purposes only.

COSOL does not warrant or represent that the information in this presentation is free from errors, omissions or misrepresentations or is suitable for your intended use. The information contained in this presentation has been prepared without taking account of any person’s investment objectives, financial situation or particular needs and nothing contained in this presentation constitutes investment, legal, tax or other advice. The information provided in this presentation may not be suitable for your specific needs and should not be relied up on by you in substitution of you obtaining independent advice. Subject to any terms implied by law and which cannot be excluded, COSOL accepts no responsibility for any loss, damage, cost or expense (whether direct, or indirect, consequential, exceptional or special damages including but not limited to loss of revenue, profits, time, goodwill, data, anticipated savings, opportunity, business reputation, future reputation, production or profit, any delay costs, economic loss or damage) incurred by you as a result of any error, omission or misrepresentation in this presentation.

PRESENTATION OF INFORMATION

All currency amounts in this presentation are in Australian dollars unless otherwise stated. "FY" refers to the full year to 30 June 2021. Amounts in this document have been rounded and any differences between this document and COSOL's financial statements are due to rounding.

AUTHORISATION

This presentation is dated 18 November 2021, and was authorised for release by the Board of COSOL.

For more information, please contact: Mr Ben Buckley, T +61 409 405 550, E ben.buckley@cosol.com.au

COSOL Limited ABN 66 635 371 363 Level 3, 201 Leichhardt Street, Spring Hill QLD 4000

==> picture [960 x 39] intentionally omitted <==

----- Start of picture text -----

COSOL | 2021 ANNUAL GENERAL MEETING PRESENTATION | 18 NOVEMBER 2021 2
----- End of picture text -----

==> picture [357 x 394] intentionally omitted <==

----- Start of picture text -----

DATA
MAINTENANCE
DATA
MONITORING
DATA
ANALYTICS
DATA
MANAGEMENT
----- End of picture text -----

==> picture [43 x 19] intentionally omitted <==

----- Start of picture text -----

DATA
INSIGHTS
----- End of picture text -----

Company Overview

COSOL is a global provider of proprietary digital solutions to asset intensive industries. We drive quantifiable business improvements through the enhanced use of data and data analytics.

People 160 Clients 68 Share Price $0.67 Market Cap $89.1m

Locations:

HQ & Asia Pacific Brisbane North America Denver

As at November 18,2021

People and Clients excludes Clarita Solutions acquisition which is expected to close November 19, 2021.

==> picture [960 x 39] intentionally omitted <==

----- Start of picture text -----

COSOL | 2021 ANNUAL GENERAL MEETING PRESENTATION | 18 NOVEMBER 2021 3
----- End of picture text -----

==> picture [42 x 106] intentionally omitted <==

COSOL Limited – FY’21 Financial Highlights

==> picture [82 x 82] intentionally omitted <==

==> picture [896 x 312] intentionally omitted <==

----- Start of picture text -----

Group revenue of $33.58m – up 51% year on year
Group Group EBIT of $5.52m – up 41% year on year
Results Group EBIT margin - 16.45%
Revenue = $33.58m NPAT of $3.99m - up 39% year on year
EBIT = $5.52m
NPAT = $3.99m Strong Balance Sheet - cash balance of $4.18m and net debt of $2.3m
Full year final dividend = 1.0 cents
Total Annual Dividend = 1.5 cents
Basic EPS = 3.06 cents per share
(Fully Franked)
Fully franked final dividend of 1.0 cents per share
NB : Financial highlights and metrics are presented on a proforma basis which includes the full year results of COSL Australia Pty Ltd which was acquired in January
2020
----- End of picture text -----

==> picture [960 x 39] intentionally omitted <==

----- Start of picture text -----

COSOL | 2021 ANNUAL GENERAL MEETING PRESENTATION | 18 NOVEMBER 2021 4
----- End of picture text -----

==> picture [42 x 106] intentionally omitted <==

FY’21 Group Financial Performance vs previous periods*

==> picture [82 x 82] intentionally omitted <==

==> picture [699 x 187] intentionally omitted <==

----- Start of picture text -----

Group Revenue Growth Earnings Before Interest & Net Profit After Tax
of 51% Tax up 41% up 39%
$5,525,060
$33,583,739 $3,997,793
$3,931,631
$2,880,046
$22,168,014
$2,759,978
$1,984,001
$13,507,233
FY 2019 FY 2020 FY 2021 FY 2019 FY 2020 FY 2021 FY 2019 FY 2020 FY 2021
----- End of picture text -----

Earnings Per Share (cps)

==> picture [163 x 142] intentionally omitted <==

----- Start of picture text -----

3.06
2.09
FY 2020 FY 2021
----- End of picture text -----

* Financial highlights and metrics are presented on a proforma basis which includes the full year results of COSL Australia Pty Ltd which was acquired in January 2020

==> picture [960 x 39] intentionally omitted <==

----- Start of picture text -----

COSOL | 2021 ANNUAL GENERAL MEETING PRESENTATION | 18 NOVEMBER 2021 5
----- End of picture text -----

==> picture [42 x 106] intentionally omitted <==

Full Year FY’21 Financials – Profit and Loss

==> picture [82 x 82] intentionally omitted <==

COSOL Group Profit & Loss	% vs Fy'20	$000's
Total Revenue	51%	33,584
Gross Profit		12,306
Gross Profit Margin		36.6%
EBITDA		6,153
EBITDA Margin		18.3%
Depreciation & Amortisation		(628)
EBIT	41%	5,525
EBIT Margin		16.45%
Finance Costs		(132)
NPBT	59%	5,393
Tax		(1,395)
NPAT	39%	3,998
EPS (cents)		3.06
Dividends (cents)		1.00

Notes:

• COSOL North America consolidated from 1 September 2020

• COSOL North America Contributed $A 6.8m revenue and EBIT of $A 1.1m

• COSOL APAC revenue increased 21% on a full year normalised proforma basis

• COSOL APAC EBIT increase 25% on a full year proforma normalised basis, (excluding share-based payments of $300K and DD costs of $160K)

• EBIT Margin of 16.5% consistent with half year

• Depreciation on plant and equipment was $186K in FY21 and Right of Use Assets $436K.

• COSOL has not received any JobKeeper payments in either FY20 or FY21

==> picture [960 x 39] intentionally omitted <==

----- Start of picture text -----

COSOL | 2021 ANNUAL GENERAL MEETING PRESENTATION | 18 NOVEMBER 2021 6
----- End of picture text -----

==> picture [42 x 106] intentionally omitted <==

Full Year FY’21 Financials Revenue Segments

==> picture [570 x 353] intentionally omitted <==

----- Start of picture text -----

Revenue by Service Revenue by Sector
Public
Infrastructure
Support & 13% Utilities
Managed 24%
Services Product &
30% Product Services
35%
Defence
23%
Professional
Services
Mining
35%
40%
----- End of picture text -----

==> picture [82 x 82] intentionally omitted <==

Revenue by Geography

==> picture [225 x 233] intentionally omitted <==

----- Start of picture text -----

COSOL North
America
20%
COSOL APAC
80%
----- End of picture text -----

NB: Includes COSOL North America for 10 months

==> picture [960 x 39] intentionally omitted <==

----- Start of picture text -----

COSOL | 2021 ANNUAL GENERAL MEETING PRESENTATION | 18 NOVEMBER 2021 7
----- End of picture text -----

==> picture [42 x 106] intentionally omitted <==

Full Year FY’21- Operating Highlights

==> picture [82 x 82] intentionally omitted <==

During FY’21, COSOL Limited was able to grow despite the challenges presented by COVID 19 and through organic growth, acquisition and the expansion of our capabilities and proprietary digital solutions deliver another strong year of operating highlights.

==> picture [11 x 14] intentionally omitted <==

----- Start of picture text -----

1
----- End of picture text -----

• 2 3

• • • Revenue growth Acquisition of 21% completed in September 2020

==> picture [124 x 74] intentionally omitted <==

• Department of Defence extension on SAP to S4 data migration

• EBIT growth of migration 25% • Largest provider of Ellipse Managed • Urban Utilities

• • Strong Services in North application and performance of America system support

• Strong Services in North application and performance of America system support underlying • •

• operating Strong IP acquired Transgrid ERP and business units in Evergreen, EAM replacement Australia and Copernicus and North America other productivity • Anglo Nickel data tools migration from SAP ECC6 to SAP S/4

• • Blue Chip Client Hana base

• 4 5 6 • New partnership • CleanCo data • COSOL RP agreement to migration project Connect LDV

• New partnership • CleanCo data • COSOL RP agreement to migration project Connect LDV provide Professional • Anglo Nickel • COSOL RP services to Client Connect DQA base • Department of Defence • COSOL RP

• • Department of Connect ECC2S4 Defence - Ellipse • OK Tedi EAM system • COSOL support Evergreen • COSOL Copernicus

  • COSOL Add Ons

• Ioneer - Copernicus

==> picture [960 x 39] intentionally omitted <==

----- Start of picture text -----

COSOL | 2021 ANNUAL GENERAL MEETING PRESENTATION | 18 NOVEMBER 2021 8
----- End of picture text -----

==> picture [42 x 106] intentionally omitted <==

==> picture [82 x 82] intentionally omitted <==

Our Major Clients

Our major clients represent some of their industry sectors most prominent blue-chip organisations and provide strong referability for the attraction of new clients and are critical to their nations infrastructure.

Asia Pacific

North America

==> picture [132 x 34] intentionally omitted <==

==> picture [99 x 31] intentionally omitted <==

==> picture [116 x 23] intentionally omitted <==

==> picture [178 x 22] intentionally omitted <==

==> picture [130 x 32] intentionally omitted <==

==> picture [128 x 40] intentionally omitted <==

==> picture [102 x 47] intentionally omitted <==

==> picture [65 x 66] intentionally omitted <==

==> picture [84 x 26] intentionally omitted <==

==> picture [147 x 41] intentionally omitted <==

==> picture [123 x 31] intentionally omitted <==

==> picture [114 x 49] intentionally omitted <==

==> picture [86 x 44] intentionally omitted <==

==> picture [106 x 18] intentionally omitted <==

==> picture [125 x 57] intentionally omitted <==

==> picture [92 x 92] intentionally omitted <==

==> picture [160 x 21] intentionally omitted <==

==> picture [106 x 55] intentionally omitted <==

==> picture [93 x 46] intentionally omitted <==

==> picture [52 x 34] intentionally omitted <==

==> picture [960 x 39] intentionally omitted <==

----- Start of picture text -----

COSOL | 2021 ANNUAL GENERAL MEETING PRESENTATION | 18 NOVEMBER 2021 9
----- End of picture text -----

Client

==> picture [86 x 33] intentionally omitted <==

COSOL Limited – H1 - Major Client Wins

Client	Deal Description	Strategic Benefit
	COSOL Asia Pacific has been awarded a three-year contract to provide Managed Services for the Glencore Coal Assets Australia (GCAA) Sales and Logistics System which is powered by Dassault Systèmes DELMIA Quintiq Solution. Demonstrating our EDAM (enterprise data asset management) credentials and expanding our capability in Advanced Analytics and Optimisation the DELMIA Quintiq provides companies with solutions to model, plan and optimize their business operations from end to end. The solutions are used to plan and optimize complex production value networks, optimize intricate logistics operations, and plan and schedule large, geographically diverse workforces.	• NextGen Productivity • 3 year deal • COSOL / Quintiq Strategic Partnership
	As a result of the HAPG Professional Services agreement, COSOL has secured a sole sourced opportunity to migrate Prony to the latest version of HAPG’s Ellipse platform (a new Caledonian based resources company that is contributing to the global industrial revolution of sustainable mobility by supplying the nickel and cobalt required by the batteries of the world’s most efficient electric vehicles. Prony offer a source of quality and long-term supply with a carbon footprint that will be reduced to zero by 2040).	• HAPG Professional Services Partnership • Sole Sourced • Lumada ready
	COSOL has successfully renewed the application and system support services to drive further efficiencies from Urban Utilities’ investment in its enterprise asset management systems. Over the initial 12 month engagement, COSOL delivered an Evergreen ready upgrade study to migrate the managed services to COSOL’s Evergreen managed services solution, ensuring that their EAM investment is kept up to date with the latest software capability. This new work for UU is valued at $1.8m over a 12 month term .	• Renewal of AMS for a further 12 months • Evergreen ready Ellipse Upgrade
	COSOL Australia was also awarded a new contract with Anglo Platinum a division of Anglo American Group. The contract is to provide data migration services as divisions move from SAP ECC6 to SAP S/4 Hana. The awarding of this contract has been a sole sourced engagement based on the success of COSOL’s work on previous data migration projects with Anglo American Group. The work will also utilise COSOL’s proprietary digital solution, RP Connect, and its Legacy Data Viewer module as the quality of data becomes paramount to the success of the overall Anglo American Group.	• RPConnect ECC2S4 • Sole Sourced • Extends Anglo Partnership
	COSOL was awarded a sole sourced contract to analyse and remediate critical enterprise asset management data due to its proprietary digital software RPConnect. The RPConnect® Data Quality Assessment (DQA) is COSOLs Enterprise Data Asset Management solution that shines a spotlight on data cleansing and enrichment opportunities to ensure that data is consistent, accurate, complete, and fit for purpose. Data is a mission critical Asset; Enterprise Data Asset Management (EDAM) is the single biggest success factor in a digital transformation journey, and most organisations are ill prepared due to many islands of disconnected data that is of unknown and/or poor quality.	• RPConnect Data Quality • Sole Sourced • Data Driven Business Improvement
	COSOL North America has been awarded a new contract to provide Managed Services based on our proprietary Evergreen solution and our market leading HAPG Ellipse capability for Long Beach Transit (LBT). The scope of works includes providing all levels of Ellipse support for the Finance, Maintenance and Procurement/Materials Departments, in addition to COSOL providing ongoing technical and functional support for the Ellipse application. LBT provides public transportation to more than 23 million annual boarding customers in southeastern Los Angeles County and northwestern Orange County. With a service area covering over 100 square miles across 14 cities, LBT annually runs more than 6.9 million service miles over 700,000 service hours, using 250 fixed-route buses.	• Evergreen multi-year managed service • Extends COSOL as market leaders

==> picture [181 x 387] intentionally omitted <==

==> picture [960 x 39] intentionally omitted <==

----- Start of picture text -----

COSOL 2021 ANNUAL GENERAL MEETING | 18 NOVEBMER 2021 10
----- End of picture text -----

==> picture [42 x 106] intentionally omitted <==

==> picture [86 x 33] intentionally omitted <==

COSOL Limited – H1 Acquisition Update

The acquisition of Clarita Solutions fits with COSOL’s acquisition strategy and strategic growth map

Acquisition criteria		Clarita’s strategic alignment to criteria	Clarita’s strategic alignment to criteria
✓Complementary digital IP and		•	Extends Enterprise Data Asset Management Platform – adds IBM Maximo to Hitachi Ellipse and SAP
services		•	Adds proprietary digital SaaS solution – EAMaaS
		•	Adds GIS capability to COSOL’ data suite
✓Industry sectors		•	Focus is on heavy asset industries to improve asset performance and achieve business optimisation
		•	Top 10 customers are Utilities, Government, Transportation, Logistics
✓Proven business model		•	Positive recent growth rate – CAGR in excess of 30% - $10.2m in revenue in FY’21
		•	Proven EBIT delivery - 20% on revenue
✓Revenue synergies		•	Provides immediate access to larger addressable market through IBM Maximo channel
		•	Opens new distribution channels for existing COSOL IP and services
		•	Opens up additional opportunity into North America market
		•	Upsell opportunity for GIS services into existing COSOL client base
✓Geographies		•	Business headquartered in Queensland which will allow ease of integration – particularly Business Development
		•	Open’s up New Zealand as a new territory
✓Deal structure that is aligned to		•	40% of upfront consideration taken in equity
shareholders		•	25% of total potential consideration taken in earnout after achieving EBIT hurdles
		•	Vendors and key employees must remain with business to achieve earnout and remain significant shareholders in COSOL
✓Valuation		•	Upfront multiple – 5.3 x FY’21 EBIT - consistent with previous acquisition multiples
		•	Purchase price will contribute to FY’22 results and is accretive to earnings
✓Proven management		•	CEO, Head of BDM and Vendors have decades of proven leadership in the sector and positive reputations within the industry

==> picture [960 x 39] intentionally omitted <==

----- Start of picture text -----

COSOL 2021 ANNUAL GENERAL MEETING | 18 NOVEBMER 2021 11
----- End of picture text -----

==> picture [42 x 106] intentionally omitted <==

==> picture [86 x 33] intentionally omitted <==

COSOL Limited – H1 Financials & Full year outlook

We continue to see significant growth potential in FY’22 . Our growth is built around 5 strategic pillars executed across multiple territories and our pipeline is strong.

• COSOL Limited H1 - Financials

• H1 Forecast Revenue range of AUD $20-22m

• Operating EBIT margins of at least 16%

➢ Full year strategic focus and commentary

1. Continue to grow our dominance in the Hitachi – Ellipse market and achieve full utilisation of HAPG Professional Services Team after migrating HAPG Professional Services team to COSOL early in H1

2. Continue to invest in North America as a platform to launch SAP and IBM Maximo capabilities alongside our already dominant position in Hitachi – Ellipse market segment with a particular focus on growing our Sales and Business Development capacity

3. Continue to invest in product development and sales capabilities for RP Connect and other proprietary digital and software solutions – Evergreen and Copernicus - to drive high margin opportunities

4. Focus on driving cross selling opportunities and with into existing Client base across multiple territories

5. Continue to search for acquisition opportunities that will add new proprietary digital solutions, expand our geographic reach, with an focus on expanding Next Generation Productivity solutions

6. Expand and grow our new IBM Maximo capability through existing and new channels and drive revenue synergies across the group

==> picture [960 x 39] intentionally omitted <==

----- Start of picture text -----

COSOL 2021 ANNUAL GENERAL MEETING | 18 NOVEBMER 2021 12
----- End of picture text -----

==> picture [211 x 169] intentionally omitted <==

Thank you