GENUSPLUS GROUP LTD — Capital/Financing Update 2022

Feb 20, 2022

ASX Release 21 February 2022 For immediate release to the market

COMPLETION OF A$20M PLACEMENT FOR STRATEGIC ACQUISITION

HIGHLIGHTS:

• Genus receives firm commitments for a A$20m Placement strongly supported by existing and new institutional and sophisticated investors

• Proceeds will fund the strategic acquisition of Pole Foundations Australia (PFA) (refer to ASX announcement on 17 February 2022)

• PFA is a QLD-based specialised provider of electrical pole inspection and reinforcement services to Tier 1 utilities across the East Coast

• Highly strategic and accretive acquisition for Genus with complementary services and Tier 1 customer base

National essential power and telecommunications infrastructure services provider, GenusPlus Group Limited (ASX: GNP) (“Genus”, or the “Company”), is pleased to announce that it has received firm commitments from institutional and sophisticated investors for a $20 million (before costs) placement (‘Placement’) via the issue of approximately 16.5 million fully paid ordinary shares (‘New Shares’) under Genus’ existing LR7.1 placement capacity, at an issue price of $1.21 per New Share. The Placement was strongly supported by new and existing investors. New Shares will rank pari passu with existing Genus shares.

The issue price of $1.21 per New Share represented a:

• 9.9% discount to Genus’ last trading price of $1.3425 prior to the Company being placed in a Trading Halt on 17 February 2022; and

• 8.0% discount to the 10 trading day VWAP of $1.32.

Proceeds from the Placement will be used to fund the strategic acquisition of Pole Foundations Australia (PFA), plus transaction costs and working capital. Refer to the investor presentation released with this announcement for further details.

Bell Potter Securities Limited and Euroz Hartleys Limited acted as Joint Lead Managers and bookrunners to the Placement.

Timetable

The indicative timetable for the Placement and Acquisition is set out below:

Event	Date
Capital raising announced and Genus resumes trading on ASX	Monday, 21 Feb 2022
Settlement of New Shares under Placement	Friday, 25 Feb 2022
Allotment and normal trading of New Shares	Monday, 28 Feb 2022
Anticipated Completion of Acquisition	~Early-Mid Mar 2022

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

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

Level 1, 63 Abernethy Road, Belmont WA 6104

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ASX Release 21 February 2022 For immediate release 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.

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

Level 1, 63 Abernethy Road, Belmont WA 6104