EVZ LIMITED - Capital/Financing Update 2017

EVZ LIMITED CAPITAL RAISING PRESENTATION

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MAY 2017

EVZ LIMITED | Brockman Engineering | Syfon Systems | TSF Maintenance

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DISCLAIMER

IMPORTANT NOTICE & DISCLAIMER

This investor presenta.on (“Presenta.on”) has been prepared by EVZ Limited (ACN 010 550 357) (“EVZ” or “the Company”) in rela.on to a pro rata renounceable en.tlement offer of new fully paid ordinary shares in EVZ (“New Shares”) with retail rights trading (“En.tlement Offer”) to be made to eligible shareholders. In conjunc.on with the En.tlement Offer, the Company is undertaking a placement of New Shares to certain professional and sophis.cated investors (“Placement”). The en.tlement offer and the placement are the “Capital Raising”

Summary informaAon

This Presenta.on contains summary informa.on about EVZ and its ac.vi.es as at 11 May 2017. The informa.on in this Presenta.on is of a general nature and does not purport to be complete or comprise all informa.on which a shareholder or poten.al investor may require in order to determine whether to deal in EVZ shares. It should be read in conjunc.on with EVZ’s other periodic and con.nuous disclosure announcements lodged with the Australian Securi.es Exchange, which are available at www.asx.com.au.

This Presenta.on is for informa.on purposes only and is not an invita.on or offer of securi.es for subscrip.on, purchase or sale in any jurisdic.on. In par.cular, this Presenta.on has been prepared for release in Australia and is not for distribu.on or release in the United States. This Presenta.on does not cons.tute an offer to sell, or the solicita.on of an offer to buy, any securi.es in the United States.

RestricAons

The New Shares have not been, and will not be, registered under the U.S. Securi.es Act of 1933, as amended (“US Securi.es Act”) or the securi.es laws of any state or other jurisdic.on of the United States, and may not be offered or sold in the United States except in transac.ons exempt from, or not subject to, registra.on under the US Securi.es Act and applicable US state securi.es laws. This Presenta.on may not be distributed in the United States, or any other jurisdic.on, except in accordance with the legal requirements applicable in such jurisdic.on. The distribu.on of this Presenta.on outside Australia may be restricted by law, and persons into whose possession this Presenta.on comes should observe any such restric.ons. Any failure to comply with such restric.ons may violate applicable securi.es laws.

recommenda.on to acquire EVZ shares and has been prepared without taking into account the objec.ves, financial situa.on or needs of individuals.

Before making an investment decision, prospec.ve investors should consider the appropriateness of the available informa.on, having regard to their own objec.ves, financial situa.on and needs and seek financial, legal and taxa.on advice appropriate to their jurisdic.on. The Company is not licensed to provide financial advice in respect of its shares. Cooling off rights do not apply to the acquisi.on of EVZ shares.

Past performance

Past performance informa.on, including past share price performance, should not be relied upon as an indica.on of future performance.

EVZ LIMITED | Brockman Engineering | Syfon Systems | TSF Maintenance

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DISCLAIMER

Future performance and forward looking statements

This Presenta.on contains certain references to forecasts, es.mates, assump.ons and other forward-looking statements and statements regarding the intent, belief or current expecta.ons of EVZ. The words “likely”, “expect”, “aim”, “should”, “could”, “may”, “an.cipate”, “predict”, “believe”, “plan” and other similar expressions are intended to iden.fy forward-looking statements. Forward-looking statements, opinions and es.mates provided in this Presenta.on are based on assump.ons and con.ngencies which are subject to change without no.ce, as are statements about market and industry trends, which are based on interpreta.ons of current condi.ons.

Forward-looking statements are provided as a general guide only and should not be relied upon as an indica.on or guarantee of future performance. This Presenta.on contains such statements, which are subject to risk factors associated with an investment in EVZ. EVZ believes that these statements are reasonable, but they may be affected by a range of variables which could cause actual results or trends to differ materially.

Forward-looking statements involve known and unknown risks, uncertain.es and assump.ons and other important factors that could cause actual results, performance or achievements of EVZ to be materially different from future results, performances or achievements expressed or implied by such statements. Readers are cau.oned not to place undue reliance on these forward-looking statements, which speak only as of the date of this Presenta.on. Readers should carefully consider the risks sec.on of this Presenta.on. Disclaimer

officers, directors, employees, agents or advisers (each a “Limited Party”) have not authourised, permi_ed or caused the issue, lodgment or dispatch of this Presenta.on and do not purport to make any statement in this Presenta.on. No representa.on or warranty, express or implied, is made as to the fairness or correctness of the informa.on, opinions and conclusions contained in this Presenta.on. To the maximum extent permi_ed by law, no Limited Party, and none of the Company and its related bodies corporate, or their respec.ve officers, directors, employees, agents or advisers, nor any other person, accepts liability for any loss arising from the use of this Presenta.on or its contents or otherwise arising in connec.on with it, including without limita.on, any liability from fault or negligence on the part of the Company, its related bodies corporate or any of their respec.ve directors, employees, agents or advisers.

Company by reference to a number of factors and the Company expressly disclaims any duty or liability in respect of that determina.on. Investment risk

An investment in EVZ shares is subject to investment and other known and unknown risks, some of which are beyond the control of the Company. EVZ does not guarantee any par.cular rate of return or the performance of the EVZ shares. Investors should have regard to (amongst other things) the risk factors outlined in the Key Risks sec.on of the Appendix to this Presenta.on.

Financial data

All references to dollars ($) and cents are to Australian currency, unless otherwise stated. This Presenta.on contains certain pro forma historical informa.on. This informa.on is provided for illustra.ve purposes only and is not represented as being indica.ve of EVZ’s views on its future financial performance or posi.on.

EVZ LIMITED | Brockman Engineering | Syfon Systems | TSF Maintenance

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EXECUTIVE SUMMARY

EVZ Limited (EVZ) is an industrial group with a ioio of specialist opera.ons in the engineering services sector. EVZ has three opera.ng divisions:

Engineering - Brockman Engineering
Water - Syfon Systems
1. Power Genera.on Maintenance TSF Maintenance

EVZ is undertaking an Equity Capital Raising of up to ~$4.7M as follows:

Placement of $0.3M
Debt to Equity conversion of TSFC Loan of $0.6M (subject to shareholder approval)

The ongoing debt structure will comprise:

Reduc.on in outstanding debt from $13.3M to $6.0M
New debt facility with CBA for three years on commercial terms
The new equity will be employed to:
Increase working capital

EVZ LIMITED | Brockman Engineering | Syfon Systems | TSF Maintenance

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EXECUTIVE SUMMARY

EVZ is now well posi.oned to grow revenues and improve profitability by u.lising the improved balance sheet to take full advantage of the growing need for:

Fuel storage and terminal developments across Australia, leading to further sales and profitability in Brockman.
Commercial and social infrastructure development in Asia crea.ng further opportunity for Syfon Systems to grow revenues and profitability.

EVZ LIMITED | Brockman Engineering | Syfon Systems | TSF Maintenance

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EARNINGS GUIDANCE

EVZ Limited reported 1H17 EBITDA of $0.77M and now provides the following guidance for the full year:

Revenue for FY17 is expected to be in a range of $50M - $52M - FY17 normalised EBITDA is expected to be in a range of $0.7M - $1.0M

EVZ is expec.ng FY18 to see growth in its order book with current work under advanced tender across the business in excess of $150M.

contract wins with a con.nued focus on recurrent revenue. The Brockman business has grown to ~40% recurring maintenance earnings and TSF Maintenance is 70% recurring maintenance revenues.

Management es.mate based on revenue source YTD FY17

EVZ LIMITED | Brockman Engineering | Syfon Systems | TSF Maintenance

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EVZ GROUP BRANDS

BROCKMAN ENGINEERING

Brockman Engineering is a specialist fuel and water industry tank design and construc.on company that also fabricates associated pressure pipework and performs shutdown maintenance.

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SYFON SYSTEMS

Syfon Systems are specialist roof drainage engineers with extensive experience in high rainfall areas.

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The company’s unique design and uncompromising a_en.on to detail has firmly established Syfon Systems as one of the world’s leading syfonic roof drainage companies.

TSF MAINTENANCE

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TSF Maintenance is a specialist power genera.on maintenance company that improves cri.cal power system reliability and durability for high reliance facili.es such data centres and cri.cal healthcare facili.es.

EVZ LIMITED | Brockman Engineering | Syfon Systems | TSF Maintenance

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BUSINESS UPDATE EVZ LIMITED

DEBT RESTRUCTURE

Debt reduc.on strategy has achieved a gross $7.285M reduc.on (in two tranches) in debt to now be $6.0M. Reduc.on was achieved through debt forgiveness by CBA.

New three year facility agreement with CBA has been executed providing stability and a planorm for growth.

TSFC Loan ($1.0M) remains current un.l December 17, a proposed 60% par.al conversion to equity to occur with shareholder approval within 90 days of capital raising. The balance of the loan facility to be extended un.l June 2018.

EQUITY

Capital raising will supplement debt restructure to improve balance sheet by $11.7M comprising $7.3M bank forgiveness and $4.4M of new equity.

Balance sheet will support EVZ to undertake larger tank projects and proceed to push ahead with Syfon Asia expansion into new geographic markets.

EVZ LIMITED | Brockman Engineering | Syfon Systems | TSF Maintenance

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KEY OFFER DETAILS

KEY DETAILS

Placement	Share placement raising $303,190 from ins.tu.onal and sophis.cated investors
	20 for 11 fully underwri_en renounceable pro rata en.tlement
En.tlement Ofer	ofer of New Shares to eligible shareholders to raise
	approximately $4.4M
Ofer Price	$0.01 per New Share
	Renounceable pro rata en.tlement ofer is open to all EVZ
Eligibility	shareholders with a registered address in Australia or New
	Zealand as at 7pm, 16 May 17
En.tlement Trading	En.tlements may be bought and sold during the en.tlements trading period and any rights not sold and not exercised will lapse
New Share Issue	Placement - 30,319,026 New Shares En.tlement Ofer– 437,941,482 New Shares
Gross Proceeds	$4,700,000 (approximately)
Ranking	New shares issued under the placement and en.tlement ofer will rank equally with EVZ exis.ng ordinary shares
Lead Manager & Underwriter	Blue Ocean Equi.es Pty Ltd

EVZ LIMITED | Brockman Engineering | Syfon Systems | TSF Maintenance

SOURCE OF FUNDS USE OF FUNDS	SOURCE OF FUNDS USE OF FUNDS
	Trade Creditors $2,830,000 Working Capital $500,000 CBA Fee $50,000 Ofer Costs $300,000
Placement $303,190 En.tlement Ofer $4,379,415
TOTAL $4,682,605	TOTAL $4,680,000

EVZ LIMITED | Brockman Engineering | Syfon Systems | TSF Maintenance

CAPITAL STRUCTURE	CAPITAL STRUCTURE
Upon comple.on of Capital Raising
Current Shares	210,548,789
Placement Shares	30,319,026
En.tlement Ofer Shares	437,941,482
Unlisted op.ons to Underwriter*	15,000,000
Total Shares upon comple.on	678,809,297
*Op.ons are exercisable at $0.02 and expire 48 months	from the date of issue

EVZ LIMITED | Brockman Engineering | Syfon Systems | TSF Maintenance

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OFFER TIMETABLE

EVENT DATE Announcement of En.tlement Offer Thursday, 11 May 2017 Ex Date, Start of En.tlements Trading Monday, 15 May 2017 Issue of New Shares under Placement Tuesday, 16 May 2017 Record Date for En.tlement Tuesday, 16 May 2017 (7pm) En.tlement Offer Opens Friday, 19 May 2017 En.tlement Trading Ends Tuesday, 23 May 2017 En.tlement Offer Closes Tuesday, 30 May 2017 (5pm) Se_lement Date Monday, 5 June 2017 Issue Date Tuesday, 6 June 2017 Trading of New Shares on ASX Wednesday, 7 June 2017

EVZ LIMITED | Brockman Engineering | Syfon Systems | TSF Maintenance

BANK AGREEMENT	BANK AGREEMENT
	KEY DETAILS
Financier	Commonwealth Bank of Australia
Market Rate Loan	$6,000,000
Finance Expense	BBSY + 4.95%
Bank Guarantee Facility	$2,800,000
Finance Expense	3.5% pa
Term	3 years
Establishment Fee	$50,000
Facility Fees	$166,666 per annum
Notes	Restric.ons on dividends and capex apply, together with certain fnancial covenants

EVZ LIMITED | Brockman Engineering | Syfon Systems | TSF Maintenance

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TSFC LOAN KEY DETAILS Secured Loan $1,000,000 Lender TSF Corpora.on Pty Ltd Term Expires 15 December 2017 (rollover op.onal) Finance Expense 3.5% pa Security TSF Maintenance Services Pty Ltd 60% debt to equity conversion to occur within 90 days at $0.01 per share subject to shareholder Notes approval. Remaining 40% debt to be rolled over to 15/6/18

EVZ LIMITED | Brockman Engineering | Syfon Systems | TSF Maintenance

PROFORMA BALANCE SHEET NOTES This pro the efe Decem • $4.7 bein • Ban debt Total ca ($6.0M ($1.0M TSFC Lo or part Further pro-for the App At 31 December 2016 Impact of the Revised Banking Facility Impact of the Net Equity Raising Pro-Forma Balance Sheet Current Assets Cash on Hand $1,743,085 $653,000 $2,396,085 Trade and Other Debtors $10,449,367 $10,449,367 Inventory $1,749,470 $1,749,470 Total Current Assets $13,941,922 $0 $653,000 $14,594,922 Non Current Assets Plant and Equipment - WDV $4,023,888 $4,023,888 Trade Debtors $1,158,511 $1,158,511 Deferred Tax Assets $4,313,415 $4,313,415 Goodwill $12,072,010 $12,072,010 Total Non Current Assets $21,567,824 $0 $0 $21,567,824 Total Assets $35,509,746 $0 $653,000 $36,162,746 Current Liabilities Trade and Other Creditors $12,669,332 -$3,700,000 $8,969,332 Employee Entitlements $2,856,628 $2,856,628 Provision for Tax $76,083 $76,083 Bank Loans $13,285,000 -$13,285,000 $0 Lease Financing $102,411 $102,411 Other Loans $1,011,833 $1,011,833 Total Current Liabilities $30,001,287 -$13,285,000 -$3,700,000 $13,016,287 Non Current Liabilities Employee Entitlements $249,572 $249,572 Lease Financing $73,252 $73,252 Provision for Tax $46,119 $46,119 Bank Loans $0 $6,000,000 $6,000,000 Total Non Current Liabilities $368,943 $6,000,000 $0 $6,368,943 Total Liabilities $30,370,230 -$7,285,000 -$3,700,000 $19,385,230 Net Assets $5,139,516 $7,285,000 $4,353,000 $16,777,516 Equity Issued Capital $46,088,909 $4,353,000 $50,441,909 Reserves -$229,983 -$229,983 Retained Losses -$40,719,410 $7,285,000 -$33,434,410 Total Equity $5,139,516 $7,285,000 $4,353,000 $16,777,516	PROFORMA BALANCE SHEET NOTES This pro the efe Decem • $4.7 bein • Ban debt Total ca ($6.0M ($1.0M TSFC Lo or part Further pro-for the App At 31 December 2016 Impact of the Revised Banking Facility Impact of the Net Equity Raising Pro-Forma Balance Sheet Current Assets Cash on Hand $1,743,085 $653,000 $2,396,085 Trade and Other Debtors $10,449,367 $10,449,367 Inventory $1,749,470 $1,749,470 Total Current Assets $13,941,922 $0 $653,000 $14,594,922 Non Current Assets Plant and Equipment - WDV $4,023,888 $4,023,888 Trade Debtors $1,158,511 $1,158,511 Deferred Tax Assets $4,313,415 $4,313,415 Goodwill $12,072,010 $12,072,010 Total Non Current Assets $21,567,824 $0 $0 $21,567,824 Total Assets $35,509,746 $0 $653,000 $36,162,746 Current Liabilities Trade and Other Creditors $12,669,332 -$3,700,000 $8,969,332 Employee Entitlements $2,856,628 $2,856,628 Provision for Tax $76,083 $76,083 Bank Loans $13,285,000 -$13,285,000 $0 Lease Financing $102,411 $102,411 Other Loans $1,011,833 $1,011,833 Total Current Liabilities $30,001,287 -$13,285,000 -$3,700,000 $13,016,287 Non Current Liabilities Employee Entitlements $249,572 $249,572 Lease Financing $73,252 $73,252 Provision for Tax $46,119 $46,119 Bank Loans $0 $6,000,000 $6,000,000 Total Non Current Liabilities $368,943 $6,000,000 $0 $6,368,943 Total Liabilities $30,370,230 -$7,285,000 -$3,700,000 $19,385,230 Net Assets $5,139,516 $7,285,000 $4,353,000 $16,777,516 Equity Issued Capital $46,088,909 $4,353,000 $50,441,909 Reserves -$229,983 -$229,983 Retained Losses -$40,719,410 $7,285,000 -$33,434,410 Total Equity $5,139,516 $7,285,000 $4,353,000 $16,777,516	PROFORMA BALANCE SHEET NOTES This pro the efe Decem • $4.7 bein • Ban debt Total ca ($6.0M ($1.0M TSFC Lo or part Further pro-for the App At 31 December 2016 Impact of the Revised Banking Facility Impact of the Net Equity Raising Pro-Forma Balance Sheet Current Assets Cash on Hand $1,743,085 $653,000 $2,396,085 Trade and Other Debtors $10,449,367 $10,449,367 Inventory $1,749,470 $1,749,470 Total Current Assets $13,941,922 $0 $653,000 $14,594,922 Non Current Assets Plant and Equipment - WDV $4,023,888 $4,023,888 Trade Debtors $1,158,511 $1,158,511 Deferred Tax Assets $4,313,415 $4,313,415 Goodwill $12,072,010 $12,072,010 Total Non Current Assets $21,567,824 $0 $0 $21,567,824 Total Assets $35,509,746 $0 $653,000 $36,162,746 Current Liabilities Trade and Other Creditors $12,669,332 -$3,700,000 $8,969,332 Employee Entitlements $2,856,628 $2,856,628 Provision for Tax $76,083 $76,083 Bank Loans $13,285,000 -$13,285,000 $0 Lease Financing $102,411 $102,411 Other Loans $1,011,833 $1,011,833 Total Current Liabilities $30,001,287 -$13,285,000 -$3,700,000 $13,016,287 Non Current Liabilities Employee Entitlements $249,572 $249,572 Lease Financing $73,252 $73,252 Provision for Tax $46,119 $46,119 Bank Loans $0 $6,000,000 $6,000,000 Total Non Current Liabilities $368,943 $6,000,000 $0 $6,368,943 Total Liabilities $30,370,230 -$7,285,000 -$3,700,000 $19,385,230 Net Assets $5,139,516 $7,285,000 $4,353,000 $16,777,516 Equity Issued Capital $46,088,909 $4,353,000 $50,441,909 Reserves -$229,983 -$229,983 Retained Losses -$40,719,410 $7,285,000 -$33,434,410 Total Equity $5,139,516 $7,285,000 $4,353,000 $16,777,516	PROFORMA BALANCE SHEET NOTES This pro the efe Decem • $4.7 bein • Ban debt Total ca ($6.0M ($1.0M TSFC Lo or part Further pro-for the App At 31 December 2016 Impact of the Revised Banking Facility Impact of the Net Equity Raising Pro-Forma Balance Sheet Current Assets Cash on Hand $1,743,085 $653,000 $2,396,085 Trade and Other Debtors $10,449,367 $10,449,367 Inventory $1,749,470 $1,749,470 Total Current Assets $13,941,922 $0 $653,000 $14,594,922 Non Current Assets Plant and Equipment - WDV $4,023,888 $4,023,888 Trade Debtors $1,158,511 $1,158,511 Deferred Tax Assets $4,313,415 $4,313,415 Goodwill $12,072,010 $12,072,010 Total Non Current Assets $21,567,824 $0 $0 $21,567,824 Total Assets $35,509,746 $0 $653,000 $36,162,746 Current Liabilities Trade and Other Creditors $12,669,332 -$3,700,000 $8,969,332 Employee Entitlements $2,856,628 $2,856,628 Provision for Tax $76,083 $76,083 Bank Loans $13,285,000 -$13,285,000 $0 Lease Financing $102,411 $102,411 Other Loans $1,011,833 $1,011,833 Total Current Liabilities $30,001,287 -$13,285,000 -$3,700,000 $13,016,287 Non Current Liabilities Employee Entitlements $249,572 $249,572 Lease Financing $73,252 $73,252 Provision for Tax $46,119 $46,119 Bank Loans $0 $6,000,000 $6,000,000 Total Non Current Liabilities $368,943 $6,000,000 $0 $6,368,943 Total Liabilities $30,370,230 -$7,285,000 -$3,700,000 $19,385,230 Net Assets $5,139,516 $7,285,000 $4,353,000 $16,777,516 Equity Issued Capital $46,088,909 $4,353,000 $50,441,909 Reserves -$229,983 -$229,983 Retained Losses -$40,719,410 $7,285,000 -$33,434,410 Total Equity $5,139,516 $7,285,000 $4,353,000 $16,777,516	PROFORMA BALANCE SHEET NOTES This pro the efe Decem • $4.7 bein • Ban debt Total ca ($6.0M ($1.0M TSFC Lo or part Further pro-for the App At 31 December 2016 Impact of the Revised Banking Facility Impact of the Net Equity Raising Pro-Forma Balance Sheet Current Assets Cash on Hand $1,743,085 $653,000 $2,396,085 Trade and Other Debtors $10,449,367 $10,449,367 Inventory $1,749,470 $1,749,470 Total Current Assets $13,941,922 $0 $653,000 $14,594,922 Non Current Assets Plant and Equipment - WDV $4,023,888 $4,023,888 Trade Debtors $1,158,511 $1,158,511 Deferred Tax Assets $4,313,415 $4,313,415 Goodwill $12,072,010 $12,072,010 Total Non Current Assets $21,567,824 $0 $0 $21,567,824 Total Assets $35,509,746 $0 $653,000 $36,162,746 Current Liabilities Trade and Other Creditors $12,669,332 -$3,700,000 $8,969,332 Employee Entitlements $2,856,628 $2,856,628 Provision for Tax $76,083 $76,083 Bank Loans $13,285,000 -$13,285,000 $0 Lease Financing $102,411 $102,411 Other Loans $1,011,833 $1,011,833 Total Current Liabilities $30,001,287 -$13,285,000 -$3,700,000 $13,016,287 Non Current Liabilities Employee Entitlements $249,572 $249,572 Lease Financing $73,252 $73,252 Provision for Tax $46,119 $46,119 Bank Loans $0 $6,000,000 $6,000,000 Total Non Current Liabilities $368,943 $6,000,000 $0 $6,368,943 Total Liabilities $30,370,230 -$7,285,000 -$3,700,000 $19,385,230 Net Assets $5,139,516 $7,285,000 $4,353,000 $16,777,516 Equity Issued Capital $46,088,909 $4,353,000 $50,441,909 Reserves -$229,983 -$229,983 Retained Losses -$40,719,410 $7,285,000 -$33,434,410 Total Equity $5,139,516 $7,285,000 $4,353,000 $16,777,516	PROFORMA BALANCE SHEET NOTES This pro the efe Decem • $4.7 bein • Ban debt Total ca ($6.0M ($1.0M TSFC Lo or part Further pro-for the App At 31 December 2016 Impact of the Revised Banking Facility Impact of the Net Equity Raising Pro-Forma Balance Sheet Current Assets Cash on Hand $1,743,085 $653,000 $2,396,085 Trade and Other Debtors $10,449,367 $10,449,367 Inventory $1,749,470 $1,749,470 Total Current Assets $13,941,922 $0 $653,000 $14,594,922 Non Current Assets Plant and Equipment - WDV $4,023,888 $4,023,888 Trade Debtors $1,158,511 $1,158,511 Deferred Tax Assets $4,313,415 $4,313,415 Goodwill $12,072,010 $12,072,010 Total Non Current Assets $21,567,824 $0 $0 $21,567,824 Total Assets $35,509,746 $0 $653,000 $36,162,746 Current Liabilities Trade and Other Creditors $12,669,332 -$3,700,000 $8,969,332 Employee Entitlements $2,856,628 $2,856,628 Provision for Tax $76,083 $76,083 Bank Loans $13,285,000 -$13,285,000 $0 Lease Financing $102,411 $102,411 Other Loans $1,011,833 $1,011,833 Total Current Liabilities $30,001,287 -$13,285,000 -$3,700,000 $13,016,287 Non Current Liabilities Employee Entitlements $249,572 $249,572 Lease Financing $73,252 $73,252 Provision for Tax $46,119 $46,119 Bank Loans $0 $6,000,000 $6,000,000 Total Non Current Liabilities $368,943 $6,000,000 $0 $6,368,943 Total Liabilities $30,370,230 -$7,285,000 -$3,700,000 $19,385,230 Net Assets $5,139,516 $7,285,000 $4,353,000 $16,777,516 Equity Issued Capital $46,088,909 $4,353,000 $50,441,909 Reserves -$229,983 -$229,983 Retained Losses -$40,719,410 $7,285,000 -$33,434,410 Total Equity $5,139,516 $7,285,000 $4,353,000 $16,777,516

		Revised Banking		Net Equity

Current Assets Cash on Hand Trade and Other Debtors Inventory Total Current Assets	2016 $1,743,085 $10,449,367 $1,749,470		Facility		Raising $653,000
	$13,941,922		$0		$653,000
Non Current Assets Plant and Equipment - WDV Trade Debtors Deferred Tax Assets Goodwill Total Non Current Assets Total Assets Current Liabilities Trade and Other Creditors Employee Entitlements Provision for Tax Bank Loans Lease Financing Other Loans Total Current Liabilities Non Current Liabilities Employee Entitlements Lease Financing Provision for Tax Bank Loans Total Non Current Liabilities Total Liabilities Net Assets Equity Issued Capital Reserves Retained Losses Total Equity	$4,023,888 $1,158,511 $4,313,415 $12,072,010
	$21,567,824		$0		$0
	$35,509,746		$0		$653,000
	$12,669,332 $2,856,628 $76,083 $13,285,000 $102,411 $1,011,833	-$13,285,000			-$3,700,000
	$30,001,287	-$13,285,000			-$3,700,000
	$249,572 $73,252 $46,119 $0	$6,000,000
	$368,943	$6,000,000			$0
	$30,370,230	-$7,285,000			-$3,700,000

	$5,139,516	$7,285,000			$4,353,000
	$46,088,909 -$229,983 -$40,719,410	$7,285,000			$4,353,000
	$5,139,516	$7,285,000			$4,353,000

This pro-forma Balance Sheet illustrates the effect of the Capital Raising as at 31 December 2016 on the basis that:

$4.7M of new equity is raised less costs being $4.4M approx.
Bank debt is reduced to $6.0M through debt forgiveness by the CBA.

Total cash debt will be $7.0M, Bank debt ($6.0M) maturity in May 2020, TSFC loan ($1.0M) maturity in Dec 2017.

TSFC Loan conversion to equity not shown or part of this pro-forma balance sheet.

Further important notes in rela.on to this pro-forma balance sheet are provided in the Appendix “Financial Notes”

EVZ LIMITED | Brockman Engineering | Syfon Systems | TSF Maintenance

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BUSINESS UPDATE

BROCKMAN ENGINEERING

Brockman is reposi.oning in the market to be a provider of value added services to the fuel industry.

Current long term agreements:

Exxon Mobil Services Agreement (5 yr)
Caltex Mechanical Infrastructure Services Agreement (3 yr)
- Caltex Tank, Turnaround & Inspec.ons Agreement (3 yr)

Recurrent workload and revenues support ongoing investment into the sector. Long term contracts underpin approximately 40% of ongoing revenues and workload

Fuel industry supply chain restructure driving investment in new terminal infrastructure. $400M+* new terminal expansion projects in planning to come to market within 3-4 years.

Management es.mate based on known project feasibility studies

EVZ LIMITED | Brockman Engineering | Syfon Systems | TSF Maintenance

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BUSINESS UPDATE

BROCKMAN ENGINEERING

Current tank construc.on workload includes:

Live and ac.ve tenders that Brockman is par.cipa.ng in exceeds $150M. Further opportunity awaits in the larger terminal development project market.

be equivalent to compe.tors to compete for larger projects, $10M+.

EVZ LIMITED | Brockman Engineering | Syfon Systems | TSF Maintenance

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BUSINESS UPDATE

SYFON SYSTEMS

Syfon is market leader in Australia, circa 70% market share. Syfon is also market leader in Malaysia with circa 80% market share. Largest opportunity for growth exists in expanding across SE Asia.

Syfon provides a holis.c service; product development, design, manufacture, installa.on and warranty of syfonic roof drainage to large commercial and social buildings across Australia and Asia.

Recent expansion into Vietnam commenced with signing agreement with local products agency (America Indochina Management Ltd) to support Syfon marke.ng and sales. Vietnam economy entering building and construc.on boom as popula.on aspire to a wealthier future.

Current contract commitments in Australia exceed $7.2M in support of FY18. Compe..ve market in Australia is resis.ng growth advances.

Management es.mate based on known tenders

EVZ LIMITED | Brockman Engineering | Syfon Systems | TSF Maintenance

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BUSINESS UPDATE

SYFON SYSTEMS

Current contract commitments in Asia exceed $7.8M in support of FY18 and FY19.

Asian growth plan is to approach each country sequen.ally, Vietnam to springboard off Malaysian headquarters un.l leading market share is established.

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explored to de-risk supply chain and seek cost advantages over generalist hydraulic contractor subs.tu.ons.

All inlets developed in house to maximise hydraulic efficiency and prevent subs.tu.on.

EVZ LIMITED | Brockman Engineering | Syfon Systems | TSF Maintenance

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BUSINESS UPDATE TSF MAINTENANCE

TSF Maintenance is a specialist, manufacturer independent, power genera.on maintenance and opera.ons provider. Current long term agreements:

Telstra / Visionstream (5 yr)
NBN / Broadspectrum (5 yr, annual rollover)
QUU Biogas Plant (2 yr)

Near term objec.ve is to provide local TSF trade support in all na.onal capital ci.es to a wider spectrum of clients. Currently have established technicians

Recurrent workload and revenues are supported by the cri.cal nature of the contracted facili.es such as data centres, communica.on networks, healthcare facili.es.

Power reliability is becoming a wider social issue and communica.ons and data networks cri.cality demand a higher order service. Reliance of services becomes an opportunity for our business.

EVZ LIMITED | Brockman Engineering | Syfon Systems | TSF Maintenance

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EVZ PROJECTS

SYFON SYSTEMS

– MELBOURNE PARK SPORTS PRECINCT Syfonic Roof Drainage

EVZ LIMITED | Brockman Engineering | Syfon Systems | TSF Maintenance

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EVZ PROJECTS SYFON SYSTEMS

– CITY OF DREAMS MACAU Syfonic Roof Drainage

EVZ LIMITED | Brockman Engineering | Syfon Systems | TSF Maintenance

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EVZ PROJECTS BROCKMAN ENGINEERING

ESSO LONG ISLAND POINT – Two Tank Floor Replacements

EVZ LIMITED | Brockman Engineering | Syfon Systems | TSF Maintenance

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EVZ PROJECTS BROCKMAN ENGINEERING

– MELVILLE ISLAND FUEL TERMINAL Three new tanks constructed

EVZ LIMITED | Brockman Engineering | Syfon Systems | TSF Maintenance

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EVZ PROJECTS TSF MAINTENANCE

– 480 QUEEN ST, BRISBANE Standby Power Plant

EVZ LIMITED | Brockman Engineering | Syfon Systems | TSF Maintenance

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APPENDIX

EVZ LIMITED | Brockman Engineering | Syfon Systems | TSF Maintenance

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FINANCIAL NOTES

BASIS OF PREPARATION OF PROFORMA BALANCE SHEET

prepared using the reviewed balance sheet of the Company as at 31 December 2016, adjusted to reflect the following proforma transac.ons:

1. The impact from the expected equity raising.

The revised banking arrangement is comprised of two parts being; the ini.al debt reduc.on by the Commonwealth Bank of Australia of $4.285M, which was announced to the market on 20 February 2017 and the impact of an agreed further $3.0M debt reduc.on by the Commonwealth Bank of Australia.

Company. TSF Corpora.on Pty Ltd, a company associated with all the Company’s Directors and the Chief Execu.ve Officer, has previously loaned the Company $1.0M. TSFC has made a request to convert part of this loan into fully paid ordinary shares in the Company. It is the inten.on of the Company to seek shareholder approval to convert $600,000 of this loan into fully paid ordinary shares in the Company at a conversion rate of 1.0 cent per share. A shareholder mee.ng will be convened following the capital raising contemplated in this En.tlement Offer Informa.on Booklet seeking the necessary approval for this conversion.

In addi.on the pro-forma balance sheet does not include the issue of 15,000,000 unlisted op.ons (expiring 48 months from the date of issue and with an exercise price of $0.02 per op.on) issued to the Underwriter as par.al considera.on of underwri.ng fees. The impact of these op.ons on the pro-forma balance sheet is not considered to be material.

The pro-forma balance sheet has been prepared based on accoun.ng standards and policies normally adopted by the Company. In addi.on, the pro-forma balance sheet is presented in an abbreviated form, insofar as it does not include all the disclosures required by the accoun.ng standards applicable to financial statements.

raising will differ from the posi.on illustrated in the pro-forma balance sheet due to opera.ons from 31 December 2016.

EVZ LIMITED | Brockman Engineering | Syfon Systems | TSF Maintenance

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KEY RISKS

SUMMARY

An investment in the Company exposes investors to certain risk factors.

The business of the Company and the industry in which it operates are subject to risk factors both of a general nature and risks which are specific to the industry and/or the Company’s business ac.vi.es. The poten.al effect of these risk factors either individually, or in combina.on, may have an adverse effect on the future financial and opera.ng performance of the Company, its financial posi.on, its prospects and the value of the Shares.

This Sec.on describes what the Company considers to be the key risks associated with an investment in the Company. You should carefully consider these factors in light of your personal circumstances and seek professional advice from your stockbroker, accountant, lawyer or other professional adviser before deciding whether to invest.

This Sec.on should not be considered to be an exhaus.ve list of every possible risk associated with an investment in the Company. The types of risks the Company is exposed to can change over .me and vary with changes in economic, technological, environmental and regulatory condi.ons generally within the industry in which the Company operates.

COMPANY & INDUSTRY SPECIFIC RISKS

Australia and Asia in which the Company operates.

Market risk

provides. There is a risk that reduced expenditure will have a material adverse effect on the Company and its earnings.
• The Company's earnings are exposed to produc.on volume and the Directors believe that, despite market condi.ons, there will be an eventual need for replacement of installed equipment which will support earnings.

CompeAAon

could materially affect the future financial posi.on and performance of EVZ by puvng downward pressure on prices or by reducing EVZ's sales volumes.

EVZ LIMITED | Brockman Engineering | Syfon Systems | TSF Maintenance

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KEY RISKS

Financial risk

Even following the Company’s recent successful nego.a.on of an interest bearing debt reduc.on with the Commonwealth Bank of Australia, the Company will con.nue to have debt obliga.ons. The debt facili.es contain a variety of material covenants which the Company and its subsidiaries must comply with. Whilst every effort will be made to seek to comply with the covenants, in the event of a breach, the lenders may be en.tled to call for repayment of the facili.es (and exercise its rights as secured creditor where EVZ defaults on such repayment). This will have a material adverse effect on the ability of the Company to con.nue its

opera.ons.

debt facili.es on commercially favourable terms, or at all.
If EVZ is unable to manage its indebtedness and the restric.ons applicable to it as a result of this indebtedness, its ability to implement its business strategy may be impaired and the results of its opera.ons and financial condi.on may be adversely

Sustainability of growth and margins

• A failure to secure service contracts may have a material adverse effect on EVZ. Addi.onally, if EVZ experiences strong growth in future years and is not able to properly manage such growth due to labour or capital equipment shortages, its financial performance could be adversely affected.

OperaAonal risk

opera.ons, financial condi.on or results of opera.ons.
Industrial ac.on between the Company and trade unions could disrupt the Company's opera.ons. A shortage of skilled personnel may increase EVZ's costs and may materially and adversely affect [produc.on levels] and profitability.

Dependence on key customer and supplier relaAonships

EVZ relies on various key customer and supplier rela.onships, and the loss or impairment of any of these rela.onships could have a material adverse effect on the Company’s opera.ons, financial condi.on and prospects.
An interrup.on in electricity, gas or water supply, a deteriora.on in the quality of raw materials or inputs supplied or an increase in the price of those raw materials could adversely impact the quality, efficiency or cost of products. Any of these events could have an adverse impact on the Company's financial condi.on and results of opera.ons.
Depending on the market price of the relevant commodity, some of the Company's customers may determine that it is not economically feasible to maintain current levels of produc.on or to con.nue commercial produc.on at some or all of their opera.ons or the development of some or all of their current projects, as applicable, and reduce or cease their purchases of EVZ’s products and services.

EVZ LIMITED | Brockman Engineering | Syfon Systems | TSF Maintenance

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KEY RISKS

Product risk

Despite controls and measures being in place, products and services may fall outside these specifica.ons due to process failures, equipment malfunc.ons or variability of inputs which could have a material adverse effect on the Company's financial condi.on and results of opera.ons.
EVZ is exposed to warranty and liability risks rela.ng to defects in its steel products. If any products it sells are defec.ve or fail to meet the required specifica.ons, the relevant customers may assert claims against the Company.
EVZ maintains an internal risk management process and also follows quality assurance procedures in rela.on to the manufacture of its products and materials.

OccupaAonal health and safety

EVZ's opera.ons are subject to extensive health and safety laws and regula.ons.
Failure to comply with the Company's internal health and safety policies and processes and with health and safety laws and regula.ons could result in enforcement ac.on which could result in monetary penal.es. In addi.on, any significant government inves.ga.on or enforcement of health and safety requirements could damage the Company's reputa.on as a responsible company and employer or could result in suspension or closure of our opera.ons.

Natural risks

EVZ operates in regions that are subject to unpredictable weather, geological condi.ons and other natural risks that could result in produc.on delays or disrup.ons to our opera.ons.
The nega.ve impacts of climate change could increase the frequency of severe weather resul.ng in increased natural risks.

Intellectual property

There can be no assurances that the validity, ownership or authorised use of intellectual property (including technology, knowhow, trademarks, designs and patents (both owned and licensed) relevant to EVZ's business may not be challenged.

LiAgaAon and legal maYers

EVZ is exposed to the risk of claims and lawsuits arising in the ordinary course of its business, including claims for damages and commercial disputes rela.ng to its business, products and services, which if successful, could adversely affect its business or financial posi.on.

EVZ LIMITED | Brockman Engineering | Syfon Systems | TSF Maintenance

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KEY RISKS

Contractual risks

that the produc.vity of the Company's assets is maximised, where possible the Company engages in short term contracts with its customers and certain suppliers. As in any contractual rela.onship, the ability for the Company to ul.mately receive the benefit of the contracts is dependent upon the relevant third party complying with its contractual obliga.ons.
termina.on of exis.ng or future material contracts rela.ng to the Company's assets may adversely affect the financial performance and/or financial posi.on of the Company.

To the extent that third par.es default in their obliga.ons or become insolvent, it may be necessary for the Company to enforce its rights under any of the contracts and pursue legal ac.on. Such legal ac.on may be costly and no guarantee can be given by the Company that a legal remedy will ul.mately be granted on appropriate terms.

•

The Company has also entered into contracts with third party product and service providers, who the Company may be reliant upon to efficiently conduct its opera.ons. Any non-compliance by these third par.es may have adverse consequences on the financial posi.on of the Company.

•

• In some circumstances where an established rela.onship exists with a customer, the Company may con.nue to provide services to the customer beyond the life of the contract, on the assump.on that the contractual terms will con.nue to apply. Disputes may ul.mately arise with these third par.es to the extent that there is uncertainty over the terms that govern the rela.onship. These disputes may require legal ac.on which as noted above may prove costly with the ul.mate outcome being uncertain.

Risks associated with global operaAons

EVZ is subject to poli.cal, legal, social and economic policy risks and uncertain.es in the countries in which the Company operates. Any deteriora.on or disrup.on of the poli.cal, legal, social or economic environment and business climate in those countries may have an effect on EVZ's businesses, financial posi.on, results of opera.ons or prospects.
EVZ provides products and services in a number of countries around the world. Therefore, EVZ is subject to tax and legal regimes of many different jurisdic.ons and is subject to risks of changes in laws, taxes or interpreta.on or enforcement.

Insurance

It is not always possible to obtain insurance against all risks and EVZ may decide not to insure against certain risks as a result of high premiums or other reasons. The occurrence of an event that is not fully covered, or covered at all, by insurance, could have a materially adverse effect on the Company's financial posi.on.

EVZ LIMITED | Brockman Engineering | Syfon Systems | TSF Maintenance

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KEY RISKS

DisrupAon to Business OperaAons

The Company’s ac.vi.es are subject to a range of opera.onal risks. Such opera.onal risks include equipment failures, IT system failures, external services failure (including energy or water supply), industrial ac.on or disputes and natural disasters. While the Company will endeavour to take appropriate ac.on to mi.gate these opera.onal risks or to insure against them, one or more of these risks may have a material adverse impact on the performance of EVZ.

General Investment Risks

The value of securi.es listed on securi.es exchanges can change considerably over .me and the value of your investment can increase and decrease with the value of the security. As with most investments, performance is not guaranteed. These risks may result in loss of all or part of the principal invested.

The Company does not guarantee the return of capital, any rate of return in terms of income or capital gain or investment performance of the Company.

GENERAL INVESTMENT RISKS

The value of the New Shares will be determined by the share market and will be subject to a range of factors beyond the control of the Company and the Directors. Share market fluctua.ons in Australia and other stock markets around the world may nega.vely affect the value of the New Shares. Factors that may influence the investment climate in stocks may not relate to actual performance of the Company and may include general economic outlook, changes in government fiscal, monetary and regulatory policies, movements in commodity prices, exchange rate movements, interest rates, infla.on and poli.cal developments.

Market risk

legisla.ve and poli.cal environment, as well as changes in investor sen.ment. In addi.on, exogenous shocks, natural disasters and acts of terrorism can (and some.mes do) add to equity market vola.lity as well as impact directly on individual en..es.

Liquidity risk

The Company is a listed en.ty, however the ability to buy and sell Shares is a func.on of the appe.te and availability of buyers and sellers at a given point in .me. An investor in the Company may not be able to buy or sell EVZ shares in the desired quan.ty

EVZ LIMITED | Brockman Engineering | Syfon Systems | TSF Maintenance

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KEY RISKS

Foreign exchange rates and interest rates

Adverse movements in exchange rates may impact sales proceeds received, product costs and price compe..veness and may impact the opera.ons and financial performance of EVZ. Also, adverse fluctua.ons in interest rates, to the extent that they are not hedged may impact EVZ's financial performance.

TaxaAon risk

Shareholders.
Tax liabili.es are the responsibility of each individual Shareholder. The Company is not responsible either for taxa.on or penal.es incurred by Shareholders. Shareholders should consult their own taxa.on advisers to ascertain the tax implica.ons of their

AccounAng Standards

Australian accoun.ng standards are set by the Australian Accoun.ng Standards Board ( AASB ) and are outside the Company’s control. Changes to accoun.ng standards issued by AASB could materially adversely affect the financial performance and posi.on reported in the Company’s financial statements.

Force majeure risk

Force majeure is a term generally used to refer to an event beyond the control of a party claiming that the event has occurred, including acts of God, acts of terrorism, fire, flood, earthquakes, war and strikes. The Company does not have insurance for all force majeure risks, some of which are, in any event, uninsurable. To the extent that any such risks occur, there may be an adverse effect on the opera.ons and profitability of the Company’s business.

Legal and regulatory changes

• The opera.ng ac.vi.es of the Company are subject to extensive laws and regula.ons. These relate to labour standards, taxes, occupa.onal health, waste disposal, transporta.on safety and other ma_ers. Compliance with these laws and regula.ons increases the costs of opera.ng ac.vi.es. As legal requirements change frequently, are subject to interpreta.on and may be enforced to varying degrees in prac.ce, EVZ is unable to predict the ul.mate cost of compliance with these requirements or their effect on opera.ons. Furthermore, changes in regula.ons and policies and prac.ces could have an adverse impact on the Company's future cash flows, earnings, and financial posi.on.

General economic condiAons

• or factors such as the level of produc.on in the relevant economy, infla.on, currency fluctua.on, interest rates, taxa.on legisla.on, supply and demand and industrial disrup.on may have a nega.ve impact on the Company's costs and revenue. These changes may adversely affect the Company's financial performance and/or financial posi.on

EVZ LIMITED | Brockman Engineering | Syfon Systems | TSF Maintenance

AI assistant

EVZ LIMITED — Capital/Financing Update 2017

64889_rns_2017-05-10_d080a978-c3e6-4ecb-a542-00f35157f0c1.pdf

EVZ LIMITED CAPITAL RAISING PRESENTATION

DISCLAIMER

IMPORTANT NOTICE & DISCLAIMER

Summary informaAon

RestricAons

Past performance

DISCLAIMER

Future performance and forward looking statements

Financial data

EXECUTIVE SUMMARY

EXECUTIVE SUMMARY

EARNINGS GUIDANCE

EVZ GROUP BRANDS

BROCKMAN ENGINEERING

SYFON SYSTEMS

TSF MAINTENANCE

BUSINESS UPDATE EVZ LIMITED

DEBT RESTRUCTURE

EQUITY

KEY OFFER DETAILS

KEY DETAILS

OFFER TIMETABLE

BUSINESS UPDATE

BROCKMAN ENGINEERING

BUSINESS UPDATE

BROCKMAN ENGINEERING

BUSINESS UPDATE

SYFON SYSTEMS

BUSINESS UPDATE

SYFON SYSTEMS

BUSINESS UPDATE TSF MAINTENANCE

EVZ PROJECTS

SYFON SYSTEMS

EVZ PROJECTS SYFON SYSTEMS

EVZ PROJECTS BROCKMAN ENGINEERING

ESSO LONG ISLAND POINT – Two Tank Floor Replacements

EVZ PROJECTS BROCKMAN ENGINEERING

EVZ PROJECTS TSF MAINTENANCE

APPENDIX

FINANCIAL NOTES

BASIS OF PREPARATION OF PROFORMA BALANCE SHEET

KEY RISKS

SUMMARY

COMPANY & INDUSTRY SPECIFIC RISKS

Market risk

CompeAAon

KEY RISKS

Financial risk

Sustainability of growth and margins

OperaAonal risk

Dependence on key customer and supplier relaAonships

KEY RISKS

Product risk

OccupaAonal health and safety

Natural risks

Intellectual property

LiAgaAon and legal maYers

KEY RISKS

Contractual risks

Risks associated with global operaAons

Insurance

KEY RISKS

DisrupAon to Business OperaAons

General Investment Risks

GENERAL INVESTMENT RISKS

Market risk

Liquidity risk

KEY RISKS

Foreign exchange rates and interest rates

TaxaAon risk

AccounAng Standards

Force majeure risk

Legal and regulatory changes

General economic condiAons

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EVZ LIMITED Capital/Financing Update 2017