COVENTRY GROUP LIMITED — Capital/Financing Update 2021

Mar 31, 2021

ASX RELEASE

New financing facility with National Australia Bank

1 April 2021

NAB Financing Arrangements

The Coventry Group advises that financial documentation for the new 3 year financing arrangement with the National Australia Bank (NAB), has been finalised and the new arrangements are in place effective 31 March 2021.

The financing agreement provides a holistic banking offering including:

• A 3 year $45m Borrowing Base Facility against eligible inventory and debtors. The facility limit is scalable for future growth.

• A $5.0m Senior Secured Ancillary Facility to provide security for Transactional Banking, Bank Guarantees, FX, and any other transactional facilities required by the Coventry Group. The intention is for these facilities to transition to NAB over next 3 months.

We are very pleased to be partnering with the NAB.

Authorised for release by the Board of Directors of Coventry Group Limited.

For further information contact:

Robert Bulluss

Chief Executive Officer and Managing Director

(03) 9205 8219

Coventry Group Ltd | ABN 37 008 670 102 | 235 Settlement Road, Thomastown VIC 3074 | Tel: (03) 9205 8223 | www.cgl.com.au