GENUSPLUS GROUP LTD — Investor Presentation 2022

Aug 30, 2022

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FY2022 Results Presentation

For the 12 months ended 30 June 2022

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Our Company

Operational Highlights.............................04 About Genus...................................................05 SHEQ & People..............................................08

Part 1: FY 2022 Results

Corporate Overview...................................10 Financial Highlights.....................................11 Part 2: The Future

Growth Strategy….........................................17 Strategy Updates...........................................18 Order Book & Pipeline................................22 Outlook................................................................23 Part 3: Recent Acquisition Update

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Genus PFA….....................................................25 BT Energy…………...........................................27 Appendices Capabilities- Power.......................................30 Capabilities- Communications...............31

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Our Company National Footprint. Regional Expertise.

Operational Highlights

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• Group substantially reduced the TRIFR rate to 3.6 – surpassing our internal target

• In final stages of the Pilbara Transmission & Iron Bridge Projects for Fortescue – combined value of ~ $207m

• Mobilisation commenced for Rio Tinto Kangaroo Hill Project – worth ~ $63m

• Key milestones achieved at Kwinana Battery Energy Storage System (BESS) Project – construction well underway

• Successful delivery of multiple Western Power Underground Power Program (UPP) projects

• Revenue of $451 million – up 42% on PCP of $318 million

• Statutory EBITDA of $33 million – up 21% on PCP

• Normalised EBITDA of $35.1 million (normalised for one-off costs) – up 8.3% PCP

• Normalised NPAT of $15 million – down 13% on PCP of $17.3 million

• East Coast Operations – collective portfolio grown to over $100m

• Acquired Pole Foundations Australia (PFA) - strongly complementary and strategic for Genus

• Continuing the integration of Connect Infrastructure (NSW) and Tandem Corp (Communications) operations

• Acquired 50% of Blue Tongue Energy (BT Energy), expanding capability in the emerging hybrid power technology and micro-grid segments of the renewables sector

• Increased footprint in NSW & QLD; Expanded capacity with further investment into renewable sector

• • Expansion in NSW personnel to 118 up from 85 at June 2021

• Revenue from east coast has grown to 22% from 7% in FY 2021

About Genus

04

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GenusPlus Group (ASX:GNP) is an end-to-end services provider for essential power and telecommunications infrastructure. We provide an integrated service delivered through key complementary businesses to our clients in the resources, power, utilities and communications sectors across Australia. Built on a bedrock of three generations of accumulated family expertise, today the GenusPlus Group is a leading ASX-listed provider of critical infrastructure services to a blue-chip client base.

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Expertise at every stage

At Genus, we maximise the life and profitability of our clients' assets by delivering reliable, schedule driven and cost-effectiveservices at every stage.

We provide asset support solutions encompassing asset management and upgrades; shutdowns; general maintenance; operational support, services and decommissioning.

Capabilities

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Power

Bringing together the industry-leading expertise and deep experience of Powerlines Plus and Proton Power, we offer a wide range of services including planning, designing, constructing, operating, testing, maintaining, managing and decommissioning power network assets.

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Industrial Services

Innovative & fully integrated Electrical & Instrumentation and Mechanical Services bringing together solutions for all aspects of E&I and Renewable Energy projects. With a client base spread across the mining, oil & gas, infrastructure and power generation sectors, we have developed an enviable reputation for reliability and executional excellence.

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Communications

From constructing state-of-the-art networks, to maintaining and upgrading existing infrastructure, our highly skilled teams are specialists in their field. Our turnkey communications solutions span the full asset lifecycle from feasibility, engineering design, site acquisition, logistics, procurement, construction and integration through to operations and maintenance.

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07

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SHEQ
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SHEQ

• GNP & all entities triple ISO Management System Certified (45001, 14001 & 9001)

• Amalgamation of Group-wide SHEQ Management System

• Workforce welfare monitoring & vigilance due to COVID

• LTIFR at 30 June 2022 was 0.00

• TRIFR at 30 June 2022 was 3.6

People

• Headcount of 950 at 30 June 2022 increased from 825 at 30 June 2021

• 87 Trainees & Apprentices Nationally

• Graduate & vacation student program progressing, with 17

• undergraduates/graduates engaged across the Group

• Key shareholder in indigenous corporation Maali Group

• currently supplying indigenous apprentices, trainees and labour support to the Genus group and the wider industry

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TRIFR LTIFR
3.6 0.0
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Part 1 FY2022 Results Highlights | Financials

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Corporate

09

Corporate Overview

Share Price Chart

Share Price (30 August 2022)	A$/sh	$1.11
Number of Shares	M	176.8
Market Cap	A$M	$196.2
Cash	A$M	$27.9
Debt	A$M	$21.1
Dividend	Cents/share	1.8c

(1 July 2021 to 30 August 2022)

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Shareholders

Board of Directors

Simon High Non-Executive Chairman David Riches Managing Director / Founder José Martins Non-Executive Director Paul Gavazzi Non-Executive Director

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Financial Highlights

$451m

Revenue of $451 million up 42% on PCP

$33m

Statutory EBITDA of $33 million Up 21% on PCP

$35.1m

Normalised EBITDA of $35.1 million Up 8.3% on PCP

Strong result despite the challenges of Covid-19, extremely wet weather seen across NSW and Queensland particularly in the second half, and supply chain issues seen across the country

$15m

Normalised NPAT of $15m Down 13% on PCP

29%

Normalised ROCE*

ROCE normalised for PFA acquisition/capital raise completed in February 2022

$27.9m

Cash balance of $27.9 million Net Cash of $6.8 million

$339m

FY2023 & FY2024 orderbook of $190.8 million and recurring revenue increased to $148.7 million p.a.

Tendered Pipeline strong at $848 million, together with significant value of opportunities and budget pricing in excess of $2 billion

*Return on Capital Employed (ROCE) is calculated as Earning before Interest & Tax (EBIT) divided by closing Net Assets

Financials

12

Historical Performance

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Normalised EBITDA and EBIT (A$ millions)
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40.0
35.0
35.1
30.0 32.4
25.0
25.0
23.2
20.0
19.6
15.0
14.4
10.0 12.8
11.3
8.8 9.3
5.0
0.0
FY18 FY19 FY20 FY21 FY22
EBITDA EBIT
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Note : Revenue from recurring works includes long term customer/Panel revenue and revenue from long term supply & maintenance contracts. It excludes supply & maintenance revenue and minor projects from repeat customers that are not on long term contracts.

Financials

13

FY2022 Financial Overview

• Record full year revenue of $451 million up 42% compared to PCP

• Statutory EBITDA $33 million up 21% on PCP

• Normalised EBITDA $35.1 million up 8.3% on PCP

• Normalised EBIT $23.2 million down 7.1% on PCP

• Normalised NPAT of $15 million down 13.1% on PCP

• FY22 Normalisations :

• ➢ Acquisition legal and advisory costs $1.1 million

• ➢ Restructuring costs $0.8 million

• ➢ ECM claim costs $0.3 million

• Results have not been normalised for Tandem restart and integration costs which incurred a $3.3 million EBITDA loss since acquisition date (6 August 2021) to balance date

Statement of Financial Performance	2021	2022
	A$M	A$M
Revenue	318.2	450.9
Normalised EBITDA2	32.4	35.1
Depreciation and amortisation expenses	(7.4)	(11.9)
Normalised EBIT2	25.0	23.2
EBIT	19.4	21.1
Other gains/(losses)	0.5	0.0
Interest	(0.7)	(1.1)
Profit before tax Income tax expense	19.2 (5.8)	20.0 (6.5)
Statutory NPAT	13.3	13.6
Normalised NPAT2	17.3	15.0

1. EBITDA/EBIT are non-IFRS measures that are unaudited but derived from audited Financial Statements. These measures are presented to provide further insight into GenusPlus Group’s performance.

2. FY 2022 Normalised EBITDA / EBIT / NPAT excluding Acquisition costs $1.1 million, ECM Claim Costs $0.3 million and Restructuring costs of $0.8 million. FY 2021 Normalised EBITDA / EBIT / NPAT excluding Listing costs of $2.7 million, ECM Claim costs of $2.2 million, Director & employee share issue costs of $0.7 million and Mark to market revaluation increase of investment of ($0.5) million

• Amortisation expenses of $1.6 million relating to acquisition of intangibles from Tandem and Pole Foundations Australia acquisition

Financials

14

Financial Overview

• Cash balance strong at $27.9 million with net cash of $6.8 million (excluding right of use asset lease liabilities of $6.1 million).

• Intangible assets increased due to the acquisition of the Tandem business ($2.1 million) and Pole Foundations Australia ($24

million).

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Consolidated Statement of Jun-21 Jun-22
Financial position A$M A$M
Cash and cash equivalents 34.2 27.9
Lease liabilities (8.6) (15.9)
Financial liabilities (6.8) (5.2)
Net Cash 18.7 6.8
Property, plant and equipment 15.8 17.7
Right-of-use assets 13.6 23.3
Financial assets 1.5 4.5
ROU Lease Liabilities (4.4) (6.1)
-
Deferred consideration (PFA, BT Energy) (5.6)
Tax liabilities 0.3 (3.0)
Working capital 6.8 24.3
Net Tangible Assets 52.2 61.8
Intangible assets (net of DTL) 5.5 31.6
Net Assets 57.7 93.4
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• Strong 2022 normalised ROCE of 29% (adjusted for the acquisition of PFA/capital raise)

• Return on Capital Employed (ROCE) is calculated as Earning before Interest & Tax (EBIT) divided by closing Net Assets.

Financials

15

Cashflow

• Cash balance at 30 June 2022 of $27.9 million

• Statutory cash inflow from operations of $11.5 million

• A$15m capex in the year ($11.5m debt funded), inclusive of

• Acquisition of Tandem, PFA and BT Energy for $23.8

the ~A$6m equipment purchased for the FMG Stage 3 Pilbara Transmission Project contract awarded to Genus as announced on 17 December 2021

• million

• Net Proceeds from share issue of $18.8 million to

enable acquisition of PFA

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Part 2

The Future Pipeline & Outlook | Growth Strategy

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Market Drivers

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Growth Strategy & Market Drivers

• Continuing expansion into east coast markets - leveraging strategic acquisitions in Qld & NSW

• Capitalise on regional investment in energyintensive assets; creating demand for upgraded or new transmission infrastructure

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• Leverage strong interconnector investment through Genus' increasing East Coast footprint & capability set

• Renewable generation project pipeline

geographic diversity of regionally-based assets requires significant network investment

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Source: AEMO 2022 ISP “Step Change” Scenario

Strategy

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Strategy Update – Power

• AEMO has identified 10,000km of new transmission projects to

• efficiently deliver firmed renewable energy through the NEM

• The 2022 Integrated System Plan calls for levels of investment in generation, storage, transmission and system services that exceed all previous efforts combined.

• Federal Government’s $20 billion Rewiring the nation plan is

• designed to ensure the infrastructure is funded & delivered

• Transgrid’s proposed integration of HumeLink, VNI Connector & Project EnergyConnect could deliver efficiencies and support the accelerating transition to low-carbon energy.

• Seek cross-selling opportunities with Genus’s strong WA

• relationships and PFA’s east coast presence and relationships

• Maintain significant skilled workforce servicing blue-chip client base

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$1,011m

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$617m

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$160m
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$600m

$100m

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$400m

$353m

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$417m

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Strategy

Strategy Update – New Energy

• Leveraging 50% acquisition of Blue Tongue Energy (BT

• Energy), expanding capability in the emerging hybrid power technology and micro-grid segments of the renewables

sector

• Key milestones achieved at Kwinana Battery Energy

• Storage System EPC Project working with NHOA and Synergy

• Continue to leverage off historical experience with projects

• such as:

  • Yandin Wind Farm

  • Warradarge Wind Farm

  • Moorabool Wind Farm

  • Kwinana Waste-to-Energy Project

• Leverage competitive advantage in having expertise to connect renewables into the grid (limited parties have the required expertise and credentials to work on the grid)

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Source: AEMO 2022 ISP

Strategy

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Strategy Update – Communications

• Telstra Copper Recovery & Recycling Project progressing successfully – further developing this key client relationship

• Telstra Blackspot and Regional Connectivity - Programs

underway

• IEN Construction commenced on East Coast

• Awarded HyperOne Hyperscale Backbone Project – significant, multi-year contract with national impact, awaiting final confirmation of first two routes

• Successful integration of Tandem into Genus’ existing comms

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• business

• Leverage off acquisition to further establish footprint for Genus in NSW, QLD, VIC, TAS, SA and NT

Source: PWC Australian Telecommunications, Media & Technology Outlook 2022

• Enter into NBN O&M contracts and future 5G market

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Orderbook & Pipeline

Orderbook & Pipeline

• Revenue from expected recurring revenue continues to grow at $149 million .

• Strong orderbook of $401 million comprised of

• $304 million for FY2023 and $184 million FY2024.

• The tender pipeline of $848 million plus budget and opportunity leads continue to be in excess of $2 billion which represents strong growth potential for the group.

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848
FY25+
FY24
FY23
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Note : Revenue from recurring works includes long term customer/Panel revenue and revenue from long term supply & maintenance contracts. It excludes supply & maintenance revenue and minor projects from repeat customers that are not on long term contracts.

Outlook

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Outlook

• FY2023 is anticipated to be a year of consolidation and integrating recent acquisitions, following a number of significant years of growth.

• Significant investment in growing the east coast has positioned Genus to benefit from the substantial investment required to the

• power network over the next 10-20 years.

• Growth in east coast revenue is expected to continue having grown to 22% in FY2022 from 7% in FY2021.

• Expect to return to strong growth in the medium term with a large pipeline of renewables and transmission projects to drive

• medium to long term growth in the business.

• The foundations of the communications business are in place to enable the Genus to take advantage of the large ongoing spend in the communications industry. Delays from the HyperOne construction contract has slowed the recovery of the communications division.

• The PFA acquisition is earnings accretive, and we expect PFA will continue to provide a positive contribution to the Group’s profit from FY2023 and beyond.

• Impact from supply chain issues and suitably skilled resource availability are expected to continue into FY2023.

Part 3

Recent Acquisitions: Update Delivering on our strategy

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About PFA

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Founded in 1992, PFA is a privately-owned, QLD-based specialised provider of electrical pole inspection and reinforcement services to Tier 1 customers across the East Coast of Australia. PFA has a team of highly specialised and experienced staff with operations across QLD, NSW, ACT and TAS.

The acquisition of PFA was highly strategic for Genus. The business expands Genus’ capability into a highly specialised service for Tier 1 customers, allowing Genus to provide a full lifecycle service offering across pole inspection, reinforcement, and replacement.

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PFA Update

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PFA - Update

• PFA continues to grow through expansion of contracts and additional work throughout

• QLD, NSW and the ACT:

• QLD : Increased geographic spread with addition of Pioneer region

• ➢ Inspection work volume increased with additional scope from Energex

• ➢ Recently added to contracting panel for Brisbane City Council

• ➢ Electrical contracting work remains solid – increasing opportunity for expansion with scope included private poles

• NSW : Reinforcement & inspection contracts robust with prospect of significant growth

• ➢ Building on approved pole reinforcement system with Essential Energy – potential to increase annual inspections five-fold

• ➢ Successfully reinforced condemned poles on a 33kV concrete line – conventionally these would have ben replaced

• ➢ This Supply & Install work was completed with PFA’s proprietary PowerBeam product (refer picture)

• ACT : Inspection contract awarded by EvoEnergy

• ➢ Scope includes completion of 8,000 inspections by the end of the calendar year

• ➢ Pole reinforcements continue – consistent, recurring work

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About BT Energy

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BT Energy are an end-to-end renewable energy service and technology provider catering to businesses in the utilities, oil & gas, resources, commercial & industrial, and residential community development industries across Australia.

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Specialising in the emerging hybrid power technology and micro grid renewable energy markets, BT Energy has a proven track record in project development, taking concept ideas and turning them into reality. The team has experienced diverse geographies with differing cultural, heritage and environmental considerations. Collectively, they have been involved in the development of over 5,000MW of power generation plants internationally. Genus acquired a 50% stake in BT Energy in December 2021.

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BT Energy - Update

• Alignment with Genus provides a platform to collectively pursue large scale renewable and hybrid power station projects. BT has several panel contracts with strong potential for future orders.

• New business focus is on remote microgrids, hybrid systems and complex systems.

• :

• Victoria Quay 500kW Solar PV

• ➢ Detailed Design & Engineering Complete

• ➢ Early works underway

• :

• Broome Battery Energy Storage Systems (279kWh/400kVA x4)

• ➢ BESS have been Factory Acceptance Tested

• ➢ BESS will be transported to site for integration, SAT & commissioning

• :

• Derby Battery Energy Storage System (279 kWh/kVA)

• ➢ BESS awaiting inverter

• ➢ BESS will be transported to site for integration, SAT & commissioning

• :

• Exmouth Battery Energy Storage System (3.5 MVA)

• ➢ BESS, Loadbank and associated infrastructure on-site

BT Energy Update

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• ➢ Awaiting installation of utility infrastructure for integration, SAT & commissioning

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Appendix – Group Capabilities

From the generating source to

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connection, we tick every box.

Capabilities

Power Infrastructure Capabilities

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Generating
source
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Transmission infrastructure -
overhead
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Distribution infrastructure -
overhead
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Primary
customer
connection
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Distribution
Zone
infrastructure -
substations
underground
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Power station
E&I/construction Transmission
Terminal
infrastructure -
substations
Solar/wind/ underground
Battery Storage/
hybrid solutions
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End-to-end Communications

Capability

Communications Infrastructure Capabilities

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Mobile & Wireless
Infrastructure
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Networks: From Concept to Construction

Civil & Infrastructure Construction

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• Direct ploughing & optic fibre installation

• Complete network designs

• Field services covering site acquisition, engineering & and design (SAED), construction & install

• Line route selection & optimisation

• Directional drilling

• Experienced field delivery capability

• Trenching

• Cable hauling & cable jointing

• Extending mobile construction capability to grow into mobile blackspots, 5G and beyond

• Field services from planning & design through to construction & maintenance

• Pit & pipe installation

• Asset installation

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Capabilities

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Digital Solutions
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• Dedicated Workforce Operations Centre and field management platform (WFM)

• Data analytics toolsets

• Virtual assessment, technician mobility apps

• Proprietary app connecting to customers

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Important Notice

Disclaimer

This presentation has been prepared by GenusPlus Group Ltd ( Genus or the Company ) . It contains general background information about the Company’s activities current as at the date of this presentation. It is information given in summary form and does not purport to be complete. The content should be read in conjunction with the companies periodic and continuous disclosure announcements lodged with the Australian Securities Exchange which are available at www.asx.com.au and also available on the company's website at www . .genusplusgroup.com.au

No Offer

This presentation and any oral presentation accompanying it is not (and nothing in it should be construed as) an offer, invitation, solicitation or recommendation with respect to the subscription for, or recommendation to purchase, hold or sell of any security in any jurisdiction, and neither this document nor anything in it shall form the basis for any contract or commitment. The presentation is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any particular investor. These should be considered, with or without professional advice, when deciding if an investment is appropriate.

The Company has prepared this presentation based on information available to them, including information derived from publicly available sources that has not been independently verified. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness, correctness or reliability of the information, opinions or conclusions expressed in this presentation.

Any statements or assumptions in this presentation as to future matters may prove to be incorrect and differences may be material. To the maximum extent permitted by law, none of the Company, their directors, employees or agents, nor any other person accepts any liability, including, without limitation, any liability arising from fault or negligence on the part of any of them or any other person, for any loss arising from the use of this presentation or its contents or otherwise arising in connection with it.

Forward Looking Statements

Certain statements contained in this presentation, including information as to the future financial or operating performance of the Company and its projects, are forward looking statements. Such forward looking statements: a) are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies; b) involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward looking statements; and c) may include, among other things, statements regarding estimates and assumptions in respect of prices, costs, results and capital expenditure, and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions. The Company disclaims any intent or obligation to publicly update any forward looking statements, whether as a result of new information, future events or results or otherwise.

The words “believe”, “expect”, “anticipate”, “indicate”, “contemplate”, “target”, “plan”, “intends”, “continue”, “budget”, “estimate”, “may”, “will”, “schedule” and similar expressions identify forward looking statements. All forward looking statements contained in this presentation are qualified by the foregoing cautionary statements. Recipients are cautioned that forward looking statements are not guarantees of future performance and accordingly recipients are cautioned not to put undue reliance on forward looking statements due to the inherent uncertainty therein.