FLEETPARTNERS GROUP LIMITED — Capital/Financing Update 2020

Jun 28, 2020

Level 6, 601 Pacific Highway Sydney NSW 2065

W www.eclipx.com

Eclipx Group Limited | ABN: 85 131 557 901

29 June 2020

ASX Release

Market Announcements Office Australian Securities Exchange 20 Bridge Street Sydney NSW 2000

ECLIPX GROUP BUSINESS UPDATE

Eclipx Group Limited (ASX: ECX, “Group”) provides an update on its end of lease car sales, liquidity position, lease extension activity and new business writings in advance of the Macquarie Emerging Leaders Forum being held today.

End of Lease Car Sales

• The momentum in the volume of “end of lease” car sales has continued since the Group’s last business update on 22 May 2020

• Total unit sales in April, May and June 2020 were better than what had been anticipated at the start of COVID-19

• Unit sale profitability remains broadly consistent with the “end of lease” profit margins achieved in 1H20 (October 2019 to March 2020)

Weekly unit sales (week commencing)

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----- Start of picture text ----- 378346 335309 321242 23217011777 7954 551H20 4-Apr 11-Apr 18-Apr 25-Apr 2-May 9-May 16-May 23-May 30-May 6-Jun 13-Jun 20-Junweeklyavg# Units sold----- End of picture text -----

Liquidity & Lease Extension Update

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• As of the end of June 2020, available liquidity is expected to be circa $120m, including cash and cash equivalents of circa $95m and $25m revolver capacity

• Lease extensions as a percentage of total leases expiring during 2H20 has increased to 22% as a result of the Group’s lease extension strategy

• Given this liquidity position, combined with the momentum in end of lease sales and lease extension outcomes to date noted above, the Group has recently commenced reprioritising its focus back to new business writings over lease extensions

• In light of the current Group liquidity position and relative performance, the Group intends to reinstate all employee and Director compensation to pre-COVID-19 levels, effective from 1 July 2020. As noted in the Group 1H20 result, the liquidity savings of the temporary employee compensation reductions were $1.4m in the April to June 2020 quarter

New Business Writings

• New Business Writings in Corporate operating leasing are currently tracking at circa 70-80% of average pre-COVID-19 levels (October 2019 to February 2020 average), reflecting lease extensions as a substitute for renewals or new business writings. Novated monthly volumes are tracking at circa 75-80% of average pre-COVID-19 levels

Right2Drive

• The Right2Drive business continues to successfully collect on its debtor book, and is generating positive cash contribution to the Group. In the month of May 2020, it collected another $6.3m, bringing the gross debtor book down to $50.6m

• The sale process for Right2Drive continues and is progressing to plan

ENDS

Authorised by: Investor enquiries: Matthew Sinnamon I Company Secretary Damien Berrell I Chief Financial Officer E: matt.sinnamon@eclipx.com E: damien.berrell@eclipx.com T: +61 2 8973 7178 T: +61 4 5735 7041

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