EVZ LIMITED — AGM Information 2017

Nov 23, 2017

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Chairman’s Address Annual General Meeting of shareholders Friday, 24[th] November 2017 at 10.00 am

Ladies and Gentlemen - On behalf of the Board of Directors and the Management Team - I welcome you to the 2017 Annual General Meeting of EVZ Limited. I am Graham Burns and have been a director of EVZ for nine years. It is my commitment to act effectively as your Chairman.

During the 2016-2017 Financial Year EVZ carried out a significant capital raising coupled with a debt reduction with the company’s bank, CBA.

EVZ’s 2016-2017 financial performance was satisfactory in the context of the expected disruption and focus prior to and during the capital restructuring, but not a financial result that the company wants to repeat following the stabilisation that followed that period. The financial results reflect a great deal on the continued application to task by the senior management team, and all employees.

While it is customary to reflect on the reported year in this address, I am sure all shareholders are very interested in what may have changed in the less than six months since we restructured. In terms of expected financial performance, we set a budget for the 2017-18 year that aims to bring all operating entities back to consistent, and increasing revenue; that reestablished stable gross margin; and that sets the tone for excellent management of work in hand plus investment in growth for the future. Simply, EVZ is not standing still and intends to grow and evolve to reward the loyalty of its shareholders.

EVZ Limited ABN 87 010 550 357 115 | 838 Collins Street, Melbourne VIC 3008 Australia P + 61 3 9545 5288 F + 61 3 9542 6061 www.evz.com.au

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Our two largest enterprises, Brockman Engineering and Syfon Systems have strong activity in their markets that offer continuing opportunities to grow. In Brockman we see the terminal activity of the petroleum industry, and particularly expansion of capacity on shore in Australia as providing excellent opportunities for us.

For Syfon Systems the dominant market position in Australia continues, and there are some geographical opportunities still open for us to grow. The larger and more open market is Asia generally. We operate at a significant scale in Malaysia, so the challenge is to do the same in selected Asian locations beside this.

TSF Engineering is now at the point of completion of its warranty period on the Tri-generation power generation plant installed for Melbourne Airport. In the absence of a rationally priced gas supply market it is unlikely that TSF will contract further plants of this type. TSF Maintenance has extended its Queensland operations this year to complement the generator and associated equipment maintenance services offered in NSW.

As outlined at last year’s AGM, we have focused on improving our balance sheet, particularly relating to existing debt levels. Our bank CBA worked with us and based on a good case for future stability and growth extended a conditional offer for a reduction of $7.3m of the company’s $13.3 m core debt. The offer was made on condition that a capital raising be undertaken to address the imbalance in creditors that was holding us back from effectively operating. We appreciate that open and direct way we were able to engage with CBA, who remain our bankers going forward.

The capital raising was very successful with $4.7m raised. We welcome the new shareholders who joined the register and welcome back existing shareholders who also added to their holdings, or who stayed the course

EVZ Limited ABN 87 010 550 357 115 | 838 Collins Street, Melbourne VIC 3008 Australia P + 61 3 9545 5288 F + 61 3 9542 6061 www.evz.com.au

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while the capital raising occurred. We particularly note the support of the company’s major shareholder Thorney Holdings and its representative Peter Landos, and the company’s brokers to the issue, Blue Ocean Equities.

Chief Executive Officer Scott Farthing will shortly address the specific performance of each of our businesses.

EVZ Limited ABN 87 010 550 357 115 | 838 Collins Street, Melbourne VIC 3008 Australia P + 61 3 9545 5288 F + 61 3 9542 6061 www.evz.com.au