ENERO GROUP LIMITED — Capital/Financing Update 2021

Mar 2, 2021

Enero Group Limited ABN 97 091 524 515 Level 2, 100 Harris Street Pyrmont NSW 2009 Australia t. +61 2 8213 3031

ASX ANNOUNCEMENT

Enero refines brand portfolio with sale of Frank PR

3 March 2021

Enero Group Limited (ASX: EGG) today announced that it has sold its 75% interest in Frank PR (Frank) as part of a management buyout led by two of the existing 25% minority shareholders, Chairman and Founder, Graham Goodkind, and Managing Director, Alex Grier.

Enero Group CEO, Brent Scrimshaw, said: ‘’ Enero continues to sharpen its focus on the core agencies of the Group in line with its strategy announced at the 2020 AGM. The Frank sale will provide additional capital to allocate to high growth opportunities across the global network of the Hotwire & Orchard brands along with BMF in Sydney, in addition to future acquisitions that accelerate capability across the Group.”

“Frank has been a significant contributor to Enero’s portfolio since joining the group 14 years ago, however we also recognise that Frank’s independence is the most advantageous path forward for it’s future growth. We wish the management and the whole team at Frank all the best for future success.

Established in 2000, Frank is one of the UK’s leading and most award-winning consumer PR agencies. The agency has a bespoke process and methodology to create Talkability® for the brands it represents. Frank was originally acquired by Enero in 2007.

Graham Goodkind, Chairman and Founder of Frank, said: “Enero has been a great owner, shareholder, partner and friend of Frank and the advice and support that we’ve received over the last 14 years has been tremendous. At heart we’re entrepreneurs, so we have always been keen to take the business independent again one day. I am grateful to Brent Scrimshaw and the Enero board for the way in which they have conducted negotiations and wish the Group every success in the future.”

Frank contributed 6.8%, or $9.3m, of Enero Group net revenue for FY20 and 5.3%, or $4.3m for 1HFY21. Enero Group will recognise a non-cash loss on sale of approximately $9.5m to $10.0m before the impact of income tax, after allowing for cash consideration of $1.5m for the 75% interest.

This announcement was authorised for release by the Chief Executive Officer.

About Enero:

Enero Group is a boutique network of marketing and communications businesses listed on the ASX that includes creative agency BMF, PR & integrated communications agencies Hotwire and CPR, strategic data consultancies The Leading Edge and The Digital Edge, digital agency Orchard and programmatic marketing platform OBMedia.

For more information, please visit www.enero.com.

For further information please contact:

Brent Scrimshaw Brendan York CEO CFO d. +61 2 8213 3036 d. +61 2 8213 3084 m. +61 448 333 363 m. +61 402 217 617 brent.scrimshaw@enero.com brendan.york@enero.com

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