EVZ LIMITED — AGM Information 2023

Nov 23, 2023

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EVZ LIMITED Annual General Meeting FY2023 24 November 2023

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Chairman’s Address

During the 2023 Financial Year the EVZ group delivered significant revenue growth and an improved operating profit against the backdrop of an economy with high inflation and record low unemployment. Consistent with recent years, all operations in Australia and South-East Asia, including the very recently acquired Tank Industries business, contributed to the overall result.

EVZ grew revenues by 65% to $111M and delivered an EBITDA of $3.8M in FY22. Importantly, demand for EVZ services has remained strong into FY2024 across the Brockman, Syfon, Tank Industry and TSF Power businesses.

As a result, for FY2024, the group expects to deliver stable revenues but with a focus on improving profitability, particularly in the Brockman business.

Brockman Engineering significantly increased its revenue but did not extract the expected operating profit due to the impacts of input cost inflation and severe labour resourcing shortages.

Brockman remains a lead player in petrochemical and water tank construction, recurrent maintenance, and piping fabrication sector. Brockman is expecting to stabilise its revenue in the 2024 financial year as it focuses on improved profits across its projects.

Syfon Systems has maintained its position as the leading siphonic roof stormwater drainage company in Australia. The FY2023 year saw a significant increase in water segment revenues and profits for the Australian business. In addition, the Syfon group has continued to grow its backlog of contracted work which will enable it to further grow revenues during FY2024.

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Chairman’s Address (continued)

Syfon remains committed to expanding in other key ASEAN markets to continue its progressive geographic expansion strategy.

Tank Industries posted a profit in its first partial year of operation within the EVZ Group since being acquired in January 2023. The business has benefitted significantly from the input of strong senior management, systems, and culture from the Syfon Systems business with which it shares a similar client base.

TSF Power continues to grow its capability through a focus on technical excellence, industry knowledge and available skilled staff to serve its identified markets of renewable gas power generation, and standby power generation. The 2023 financial year produced a significant improvement in revenues and profit and TSF

Power is well placed to further grow in revenue and profitability further in the 2024 financial year.

The group is currently transitioning to operate as a market sector focused business bringing our teams at Syfon Systems Australia, Syfon Systems Asia and Tank Industries together to form the Building Products division. Similarly, Brockman Engineering & TSF Power are working more closely together to pursue the Energy & Resources sector in Australia and New Zealand. We plan to expand our reach into these market sectors through organic growth and selected complimentary acquisitions as they are identified.

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EVZ LIMITED CEO Business Update FY2023 24 November 2023

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FY23 Performance Highlights

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Revenue EBITDA NPAT
$111,200,389 $3,757,274 $1,446,276
Up 65% Up 19% Up 62%
Earnings per Share Cash on Hand NTA / Share
1.20c $9.27M 15.2c
Up 35% Up 4% Up 8%
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Environment, Social & Governance

EVZ Limited has adopted an ESG Framework based on the Sustainable Accounting Standards Board (SASB) structure. The SASB Standards are widely recognised amongst global investors and other relevant ratings organisations providing a comparator across all industries and companies. EVZ Limited’s ESG Framework is available on our website defining the company's commitment to integrate a realistic and achievable environmental and social governance strategy across our operating subsidiaries.

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Energy & Resources

Our Energy & Resources division comprises the businesses of Brockman Engineering & TSF Power leading the way to form a group of technical services specialists in the energy, water, mining and natural resources sectors. These sectors will feature strongly in Australia’s economy in coming decades as Australia maximises the use of our abundant natural resources and accelerates the energy generation transition to achieve net carbon zero. Urban expansion of our cities is also bringing forward new water infrastructure projects that are becoming more frequent in our diversified project portfolio.

Revenue growth in this division was strong in FY23 and is expected to continue growing in coming periods. Investment in growing the business geographical footprint and expanding our skilled capability coupled with the impact of temporary cost input inflation limited our ability to translate the revenue growth into profit growth. We forecast the profit margins to improve and be in line with revenue growth in the current and future periods. We plan to expand our service offering to new segments and adjacencies through organic and acquisitive means as our energy and resources strategic plan evolves.

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REVENUE -ENERGY & RESOURCES REVENUE BACKLOG - ENERGY & RESOURCES
90 80
80 70
70
60
60
50
50
40
40
30
30
20
20
10 10
0 -
FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23
1HFY 2HFY Brockman TSF Power
7
Millions Millions
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Building Products

Our Building Products division comprises the businesses of Syfon Revenue growth in this division has been strong in FY23 and is Systems Australia, Syfon Systems Asia & Tank Industries to create expected to continue growing in coming periods. Investment in a group of water industry product technical specialists supplying growing the business geographical footprint into Indonesia and the built and social infrastructure sectors. The building expanding our product range with acquisition of Tank Industries construction sector will continue to feature strongly as part of the has delivered best in class contribution margins and cashflow. We economic development landscape as new cities and enhanced plan to continue the expansion of our service offering to new existing urban communities evolve to match population growth in segments and adjacencies through organic and acquisitive the Australian and ASEAN region. Our building products business means as the strategic plan for this division evolves. is exposed to the regions fastest growing economies specialising in managing and conserving the precious water resources.

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REVENUE - BUILDING PRODUCTS REVENUE BACKLOG - BUILDING PRODUCTS
30 35
30
25
25
20
20
15
15
10
10
5
5
0 -
FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23
1HFY 2HFY Syfon Aust Syfon Asia Tank Industries
8
Millions Millions
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Energy & Resources: Case Study

VIVA ENERGY – STRATEGIC STORAGE PROJECT

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Brockman Engineering is providing innovative design and construction solutions to deliver the Viva Energy Strategic Storage project augmenting the diesel fuel storage capacity at the Geelong refinery. The project includes three thirty-five megalitre fuel storage tanks with aluminium geodesic dome roofs, civil works to prepare the site and construct the bund walls, integrating pipework and electrical supply connections. The project will be complete in mid 2024.

Energy & Resources: Case Study

GREATER WESTERN WATER – BULK WATER RESERVOIR

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Brockman Engineering is providing innovative design and construction solutions in conjunction with Aqua Metro to deliver a replacement water storage reservoir in Melbourne’s western suburbs to augment the water supply in this important growth corridor. The project is expected to be complete in mid 2024.

NEW FOOTSCRAY HOSPITAL, MELBOURNE

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Syfon Systems and Tank Industries are providing innovative stormwater management solutions and water storage tanks to the new Footscray Hospital development project in Melbourne, Australia. Syfon is designing and constructing the rainwater catchment and siphonic drainage systems to protect the building from water ingress. Tank Industries has designed and manufactured the water storage tanks to the needs of the client.11

TUN RAZAK EXCHANGE, KUALA LUMPUR

Syfon Systems have provided innovative stormwater management solutions to the mega development of Tun Razak Exchange (TRX) in Kuala Lumpur, Malaysia. Our team secured this project in 2018 and has worked closely with Lend Lease and WCT to deliver this urban renewal project. Syfon designed and constructed the rainwater catchment and siphonic drainage systems to protect the building from water ingress during the seasonal tropical rainstorms. The project has recently been completed.

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Important Notice

This presentation has been prepared by EVZ Limited for professional investors. The information contained in this presentation is for information purposes only and does not constitute an offer to issue, or arrange to issue, securities or other financial products. The information contained in this presentation is not investment or financial product advice and is not intended to be used as the basis for making an investment decision. The presentation has been prepared without taking into account the investment objectives, financial situation or particular need of any particular person.

No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in the presentation. To the maximum extent permitted by law, none of EVZ Limited, its directors, employees or agents, nor any other person accepts any liability, including, without limitation, any liability arising out of fault.

In particular, no representation or warranty, express or implied is given as to the accuracy, completeness or correctness, likelihood of achievement or reasonableness of any forecasts, prospects or returns contained in this presentation nor is any obligation assumed to update such information. Such forecasts, prospects or returns are by their nature subject to significant uncertainties and contingencies.

Before making an investment decision, you should consider, with or without the assistance of a financial adviser, whether an investment is appropriate in light of your particular investment needs, objectives and financial circumstances. Past performance is no guarantee of future performance.

The distribution of this document is jurisdictions outside Australia may be restricted by law. Any recipient of this document outside Australia must seek advice on and observe such restrictions.

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