GENUSPLUS GROUP LTD — Capital/Financing Update 2022

Mar 23, 2022

ASX Release 24 March 2022 For immediate release to the market

CONTRACT UPDATE

Regarding the announcement provided to the ASX on Monday 21 March 2022, confirming the engineering, procurement and construction contract for circa $40 million which GenusPlus has secured with Southern Cross Energy Partnership, GenusPlus’ engineering and procurement works under the contract are scheduled to commence immediately, with all works projected to be completed by mid 2023 with a peak manning capacity of approximately 60 direct personnel. Site access under the contract is subject to customary licences, permits and approvals for the project, which are underway and include obtaining land tenure, a site clearing permit, an electricity transmission licence and applicable local council approvals. If site access is not granted by 15 March 2023, either party may terminate the contract. If the contract is terminated in those circumstances, GenusPlus expects to receive a material portion of the contract sum for the engineering and procurement works performed under the contract. The project will be completed by GenusPlus’ Western Australian operations.

The Board of the Company has authorised the release of this announcement to the market.

For more information:

INVESTOR ENQUIRIES

David Riches Damian Wright investors@genusplusgroup.com.au investors@genusplusgroup.com.au +61 8 9390 6999 +61 8 9390 6999

ABOUT GENUSPLUS

GenusPlus Group Ltd is an end-to-end specialist service provider for essential power and communications infrastructure. GenusPlus provides an integrated service offering to its customers in the resources, power, utilities and communications sectors across Australia. For further information, go to www.genusplusgroup.com.au

Level 1, 63 Abernethy Road, Belmont WA 6104

P: (08) 9390 6999 www.genusplusgroup.com.au

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