EVZ LIMITED — AGM Information 2008

Nov 24, 2008

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ENVIROZEL LIMITED

ABN 87 010 550 357 ACN 010 550 357 Level 7, 410 Collins Street Melbourne VIC 3000 Australia PO Box 237 Collins Street West Melbourne VIC 8007 Tel: +61 3 9670 4545 Fax: +61 3 9670 6670 www.envirozel.com

25 November 2008

The Manager Companies Australian Stock Exchange Level 45, South Tower, Rialto 525 Collins St Melbourne, Vic 3000

Dear Sir

CEO’s Address to Annual General Meeting

Please find attached the CEO’s Address to the Annual General Meeting of the Company. This meeting is scheduled to commence at 10.00am today.

Yours faithfully

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Ian Wallace Company Secretary

CEO’s Address to Annual General Meeting

As Max has already advised, 2007-2008 has been a challenging year for Envirozel in a significantly changing business environment which has necessitated a number of changes within the Group. With the prevailing market conditions and reduced risk appetite of the Investment Community, it will take time to see the benefit of these changes and the subsequent reflection in the share price.

The appointment of myself as CEO and Ian Wallace as CFO has provided specific focus on operational and managerial functions within the group. In particular, a comprehensive Management Team comprising myself, Ian and MD’s of the subsidiary companies has now been formed to guide and drive the Company. Primary issues that have and are being addressed include:

1. Establishing a “Culture of Growth” via the development of long range Business Plans and Budgets.

2. Focus on organic growth through the employment of in-house Business Development managers providing front end focus, diversification and expansion of product offerings, customer base and geographic expansion.

3. Enhanced cross-selling opportunities between the subsidiary companies and clients has resulted in a number of multiple bid opportunities on relevant projects.

4. An ongoing analysis of business risks impacting the Group is being undertaken including environmental issues, customer and geographic concentration.

5. Upgraded standardised reporting formats to provide timely and concise business performance information measured against approved Budgets.

6. The Group has further enhanced its commitment to OHS&E as a result of the Group Strategic Safety Review. A comprehensive Safety Resource Manual for the Group and Subsidiaries is almost complete and we continue to have an extensive focus to our ongoing safety performance.

Company Highlights

Key highlights from both a Corporate and operating business point of view are:

• Syfon Systems continues with a strong performance and has successfully opened a new office in Brisbane (which it shares with TSF Engineering).

Syfon Singapore has now been established and has subsequently received a number of orders including the Convention Centre Building which forms part of the Marina Bay Sands project, which is currently the most prestigious project in Singapore.

Syfon’s forward order books, both in Australia, Malaysia and Singapore continues to be strong, however, tighter margins are becoming more evident particularly in NSW. At this stage we are projecting an on budget performance from this business.

• Brockman Engineering has also performed well and has a strong forward order book which includes the renewal of the Shell Corio Refinery contract for a period of

2½ years with a 1 year option. Brockman are also pushing interstate and have successfully secured a new project in Moree, Northern NSW. Again, at this stage, an on budget performance is also forecast for this business.

• Danum Engineering suffered the loss of the Shell Maintenance Contract and as already stated, this significantly influenced their second half result. In the long run Danum will benefit, as it has been forced to significantly diversify its customer base and geographic targets. This business is operating profitably at a reduced level whilst meeting their new targets.

• National Engineering had a difficult year and continues to feel the impact of the International credit squeeze due to its heavy reliance on new construction projects, many of which have either been cancelled or delayed. The price of Structural Steel has increased by approximately 100% over the last year which has resulted in a number of projects being re-designed to use structural concrete. We foresee these conditions continuing for the current year (albeit steel prices have stabilised) and have reacted by reducing the current workforce in Young, NSW by approximately 40%. We have also appointed a new MD to re-focus the business and address fundamental business principles.

Despite this negativity, there still appears to be many potential projects and we are in the process of appointing a new BDM, who will assist National Engineering to diversify their customer and geographic base.

• TSF Engineering & TSF Maintenance. As previously reported on a number of occasions, the acquisition of TSF has been our most difficult to date. The process finally resulted in the removal and replacement of all the senior management positions in TSF except for the Manager of TSF Maintenance. This process was obviously traumatic, but has resulted in a substantially stronger organization now equipped to grow into the future.

Significant expansion of the previous customer base (which is heavily reliant on Telstra work) is also being targeted (and progressively achieved) to minimize risk exposure. Telstra embargos have impacted on TSF Engineering’s results for the first two months of this year. However, the future for TSF Engineering is very positive, particularly in the emerging areas of Co and Tri-generation power supply systems. There are also exciting prospects emerging for power generation from Coal Seam methane.

• The story with respect to TSF Maintenance is very pleasing. This business has effectively doubled its workload at double its previous charge out rate. Although this is a small business, we intend to expand on this opportunity to provide a recurring revenue base.

Health, Safety & Environment

During the year, all subsidiary companies were subjected to a Strategic Safety Audit. Although all of the businesses are required to comply with high levels of OHS&E standards on the various job sites, it became obvious that there were a number of differences between the various Company Safety policies at their own premises. A specialist has now been commissioned to prepare an umbrella framework and standardised reporting procedures which will encompass all companies in the Group and future acquisitions.

A high level of performance, compliance and achievement of a safe working environment sits at the core of our business success.

Our People

The strength of our Company is reliant on the quality and reliability of our employees. It is pleasing to note that in these times of difficult labour supply for both blue and white collar workers, that we have successfully retained a consistent team of skilled people throughout the Group. This is even more significant when you take into account the diversity of our various businesses, and the new opportunities that are being pursued to expand and secure our future. None of this could have been achieved without the expertise and dedication of each of the subsidiary company MD’s.

The Way Forward

We have now developed and adopted a comprehensive Strategic Plan to take us forward over the next 5 years. The salient points are as follows:

• Continue to integrate and consolidate the existing businesses. Target significant organic growth by expanding our customer base and product offering by developing a proactive approach to our existing and new customers. To achieve this, Business Development Managers have or are being employed in all subsidiary companies and we are developing and diversifying our customer base and product offering via a comprehensive Business Development Management Team.

• The acquisition of “bolt on” businesses will remain as a focus; however, we will ensure that any such businesses are complementary and compatible with the existing businesses.

• The current business/market climate would appear to be an excellent opportunity for strategic roll-ups and it is our intention to continue evaluating these. There are many companies in a similar position to EVZ with similar offerings. It is our intention to build a national base for our “steel” based companies which will provide geographic diversity. This geographic diversity is a perfect base for Syfon and TSF to build from, as each of these companies has a unique niche market offering.

In closing, we are in tough and interesting times that present many opportunities as well as challenges. We are building a solid reliable business to capitalize on these various opportunities which will produce solid results in the medium to long term.