GENUSPLUS GROUP LTD — Investor Presentation 2024

Aug 25, 2024

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FY2024 Results Presentation

For the 12 months ended 30 June 2024

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Our Company

Group Snapshot……………..……..03 FY24 Financial Highlights..……..04 FY25 Outlook Summary....……..05 FY24 Highlights..……………..…….06 SHEQ…………........…………………..08 People & Culture.…………........……09

Part 1: FY2024 Results

Historical Performance…………..11 Financial Overview…..….………...12 Segments.………………………………13 Financial Position………........……17 Cash Flow…..…..…………........……18

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Part 2: Market & Growth Strategy

Market Drivers.……………..…..…..20 Strategy………………..….…………….21 Corporate Overview……………….28

02

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$551m
35%
3
FY24
of Group Revenue
derived from East Revenue
Operating Coast Operations Group Snapshot
Segments
Communications
1,059 Revenue by sector
Employees across
MINING
Australia 29%
2.7
Infrastructure
TRIFR
OTHER
@ 30 June 2024 1% POWER
PRIVATE INFRASTRUCTURE
7% 50%
89
Industrial Services
COMMUNICATIONS
Apprentices, Trainees & 13%
Graduates Nationwide
03
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FY2024 Financial Highlights

Record Revenue of $551m $551M Up 24.1% on PCP Record Normalised EBITDA of $45.3m $45.3M Up 23.2% on PCP Record Statutory NPAT of $19.3m Up 43.7% on PCP $19.3M Basic EPS 10.8 cps, Diluted EPS 10.7 cps (based on NPAT) Net cash provided by operating activities of $82.8m $82.8M Up 111.6% on PCP Record Cash Balance of $101.0m (up $54.2m or 116%) $101M Net Cash of $77.3m (up $54.8m or 244%) 2.5 cps Dividend declared of 2.5 cents per share, up 25% from 2.0 cents per share in FY2023.

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FY2025 Outlook

• Strong momentum generated in FY2024, combined with a strong orderbook of $519 million, provides a solid base to support earnings growth in FY2025, with Genus forecasting this underlying momentum to deliver at least 20% growth in EBITDA in FY2025.

• Expected recurring revenue forecast at $251 million for FY2025 up 12% on FY2024 actual results of $224 million.

• Strong orderbook of $519 million (excluding recurring revenue) .

• A tendered pipeline of $2 billion, up from $1.9 billion at the end of FY2023.

• Budget pricing and opportunity leads (excluded from tender pipeline) have increased to in excess of $3 billion which represents strong growth potential for the group.

OUTLOOK SUMMARY

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Orderbook & Pipeline (A$ millions)
2,500
2,000
2,003
1,863
FY2023
FY2024
1,500
FY2025F
1,000
500
519
251
224
170 192
-
Recurring Works p.a. Orderbook Tender Pipeline
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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. Recurring works p.a. refers to the actual/forecast for one year.

05

HIGHLIGHTS

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FY2024 Highlights – Operational & Strategic

• This year, the Group has delivered exceptional results across the business, marking another year of record performance.

• We are continuing to prioritise our people and safety targets to uphold the Genus culture that has driven our success. Our Apprentice and Traineeship programs are important in meeting the national demand in our industry. We are excited to welcome these young Australians into the Group and support them in obtaining a trade.

• The acquisitions that were completed in FY2023 are now well-integrated and meeting internal targets.

• The acquisition of Prasinus Energy Services in Victoria in FY2024 - making Genus a truly national business operating in multiple states.

• We remain receptive towards further M&A opportunities to continue our growth trajectory. Through potential acquisitions and organic growth, Genus will continue to move into new geographical locations and service offerings expanding our national footprint.

• The demand generated by the Rewiring the Nation Program, along with our successful track record in delivering renewable energy projects, places us in a favorable position for the foreseeable future. We are confident that our current standing will open up abundant opportunities for us in the years to come.

• HumeLink East is progressing well as we move closer to commencing on-site delivery for Transgrid, alongside our JV partner Acciona.

• We've achieved success on numerous service panels spanning multiple states and business units, bolstering the foundation of our business and increasing annual recurring revenue. We are committed to diversification across service/maintenance and large-scale project revenue.

06

HIGHLIGHTS

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FY2024 Highlights – Operational & Strategic (Continued)

• The award and commencement of the Melbourne Renewable Energy Hub (MREH) EPC for the Balance of Plant scope and Battery Energy Storage System (BESS) installation alongside our JV partner Samsung.

• With several renewable projects completed, including Balance of Plant & BESS and our first 100MW solar farm, we have gained a good understanding and knowledge of the construction and management required to deliver these projects safely and efficiently providing Genus with diversification across the new energy sector.

• We are continuing to strengthen our nbn and Telstra partnership to meet the growing demand for communication infrastructure.

• To effectively serve our clients across the nation and establish ourselves as the contractor of choice, we are committed to investing in the specialised plant and equipment necessary for our operations.

07

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SHEQ
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SHEQ

• Genus is triple ISO Management System Certified (ISO 14001, ISO 45001 & ISO 9001).

• Genus is currently developing a Climate Transition Strategy and Greenhouse Gas emissions framework. This framework will capture emissions data to enable Genus to report emissions in accordance with expected legislation changes.

• Lost Time Injury Frequency Rate (LTIFR) at 30 June 2024 was 0.0 vs 0.0 target.

• Total Recordable Injury Frequency Rate (TRIFR) at 30 June 2024 was 2.7 vs 2.8 target.

• Genus received the Work Health & Safety Foundation Workers’ Compensation & Injury Management Award in October 2023, recognising organisational efforts and achievements in improving work health, and safety.

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FY24
JUN 22 JUN 23 JUN 24
Target
TRIFR 3.6 2.4 2.7 2.8
LTIFR 0.0 0.0 0.0 0.0
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08

PEOPLE & CULTURE

People

• Headcount of 1,059 as at 30 June 2024 increased from 1,016 as at 31 December 2023 and 835 as at 30 June 2023.

• 89 Trainees, Apprentices and Graduates employed nationally.

• Graduate & vacation student program progressing, with 9 undergraduates/graduates engaged across the Group.

• Workforce Planning

• ✓ Recruitment : Invested in talent search functionality and additional support services with SEEK and LinkedIn to support our internal recruitment process.

✓ Retention : Focus on maintaining our strong culture and values as we continue to grow. This is what sets us apart from our competition.

Culture

Health and Wellbeing

• ✓ Recognition of significant events – RUOK Day, Men’s Health, Women’s Health, Push Up Challenge, Reconciliation Week, NAIDOC Week.

• ✓ Employee Assistance Program - Transitioned from Benestar to Drake Wellbeing Hub for improved scope of services and resources.

Learning and Development

• ✓ Building our library of bespoke Genus online learning (developed internally) to include Frontline Leadership, Wellbeing and Mateship, Modern Slavery, Cyber Security Awareness and more.

• ✓ Access to external sources for in-person and online learning.

• ✓ Ongoing management and HR support for skills and professional development – specific to individual roles.

Diversity and Inclusion : Reflect RAP – 12 months in

• ✓ Cultural Awareness Training for current staff and new joiners.

• ✓ Participation in the Annual Walk for Reconciliation - June 2024.

• ✓ Participation in NAIDOC events – Sponsorship and sharing of Nunga Screen Initiative (series of short films created by Indigenous film-makers). ✓ Procurement opportunities - engaging Indigenous suppliers.

• ✓ Job Advertising on Indigenous job sites and actively encouraging Indigenous candidates to apply for vacancies, apprenticeships and traineeships within Genus.

09

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Part 1

FY2024 Results Highlights | Financials

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HISTORICAL PERFORMANCE

Historical Performance

Revenue (A$ Millions)

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600
500 551
400 451 444
300
318
200
170
100
99
0
FY19 FY20 FY21 FY22 FY23 FY24
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Revenue from recurring works (A$ Millions)

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250
200 224
150 170
134
100
50 64
39 44
-
FY19 FY20 FY21 FY22 FY23 FY24
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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. CAGR means Compound Average Growth Rate.

Normalised EBITDA & EBIT-A (A$ Millions)

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50.0
40.0 45.3
36.8
30.0 35.1 33.7
32.4
20.0 25.0 24.7 24.9
19.6
10.0 14.4
12.8
9.3
0.0
FY19 FY20 FY21 FY22 FY23 FY24
Normalised EBITDA Normalised EBIT-A
NPAT-A (A$ Millions)
25
20 21.5
15 CAGR: 41.8%
15.7
14.6
13.3
10
10.7
5
5.9
0
FY19 FY20 FY21 FY22 FY23 FY24
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Note: EBIT-A and NPAT-A adjust EBIT and NPAT for the amortisation expenses relating to the acquisition of identifiable intangibles. Further details are in the Appendix on page 29.

11

OVERVIEW

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FY2024 Financial Overview

• Record Revenue of $551.2 million up 24.1%

• Record Normalised EBITDA $45.3 million up 23.2% on prior year

• Record Statutory NPAT for the year $19.3 million up 43.7% on prior year

• NPAT-A $21.5 million up 36.9% on prior year

• FY24 Normalisations:

• ❖ Acquisition legal and advisory costs $0.3 million

• ❖ Restructure costs $1.1 million

• ❖ EC&M claim net revenue ($0.9) million

• FY24 Amortisation expenses of $3.3 million relate to acquisition of

intangibles from Tandem (Communications segment) and Pole

Foundations Australia (Infrastructure segment).

Profit & Loss Statement (A$ millions)	FY 2023	FY 2024
Revenue	444.2	551.2
Normalised EBITDA	36.8	45.3
Depreciation & amortisation expenses	(11.9)	(11.6)
Normalised EBIT-A	24.9	33.7
Acquisition amortisation Normalisations 1 EBIT Statutory NPAT NPAT-A 1. See reconciliation in the Appendix on page 29 for more information.	(3.3) (3.1) 18.5 13.4 15.7	(3.3) (0.5) 30.0 19.3 21.5	FY2024 Results	Investor Presentation

Due to rounding, numbers presented may not add.

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Infrastructure

Revenue FY24

$336m

Up 5% on PCP

Bringing together the industry-leading expertise of Genus Infrastructure and Proton Power, we cover a wide range of services including planning, design, construction, operating, testing, maintaining, managing and decommissioning power network assets.

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Industrial Services

Revenue FY24

$153m

Up 94% on PCP

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

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Communications

Revenue FY24

$72m

Up 15% on PCP

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 solution spans the asset lifecycle from feasibility, engineering, design, site acquisition, logistics, procurement, construction and integration through to operations and maintenance.

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Infrastructure

• Revenue of $336 million, up 5% on FY2023.

• Normalised EBITDA of $36.1 million up 6.3% on FY2023.

• Normalisations relate to restructure and acquisition costs.

• Normalised EBIT margin growth from 6.6% to 7.7%.

• Additional training and recruitment costs incurred in FY2024 as the business prepares to scale up in the coming years.

• As HumeLink is still in its early stages of the project, it did not materially contribute to the segment in FY2024.

SEGMENTS

Segment Profit & Loss Statement (A$ millions)	FY2023	FY2024
Revenue	320.0	336.0
Normalised EBITDA	34.0	36.1
Depreciation & amortisation expenses	(10.6)	(7.8)
Normalised EBIT-A	23.4	28.3
Acquisition amortisation	(2.4)	(2.3)
Normalised EBIT	21.0	26.0
Normalisations	(1.3)	(0.3)
EBIT	19.7	25.8

Due to rounding, numbers presented may not add.

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SEGMENTS

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Industrial Services

• Revenue of $152.6 million, up 94% on FY2023.

• Normalised EBITDA $8.1 million up 270% on FY2023.

• Normalisations in FY2024 relate to restructure costs.

• The Industrial Services segment has delivered excellent results and is well placed to capitalise on future opportunities, particularly in the renewable energy sector.

• A new division targeting E&I projects commenced in FY2024.

• Normalised EBIT margin improvement from 2.2% to 5.1 % with better efficiency and scale across the business.

Segment Profit & Loss Statement (A$ millions)	FY2023	FY2024
Revenue	78.7	152.6
Normalised EBITDA	2.2	8.1
Depreciation & amortisation expenses	(0.5)	(0.4)
Normalised EBIT-A	1.7	7.7
Acquisition amortisation	-	-
Normalised EBIT	1.7	7.7
Normalisations	(0.0)	(0.2)
EBIT	1.7	7.6

Due to rounding, numbers presented may not add.

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SEGMENTS

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Communications

• Revenue of $71.6 million, up 15% on FY2023.

• • Normalised EBITDA loss of ($0.5 million), improved from FY2023 from ($0.7 million) loss.

• FY2023 Normalisations relate to business restructure costs.

• Further restructure in FY2024 has set the Communications segment up for significant improvement in FY2025.

• Operational improvements have been made in H2.

Segment Profit & Loss Statement (A$ millions)	FY2023	FY2024
Revenue	62.3	71.6
Normalised EBITDA	(0.7)	(0.5)
Depreciation & amortisation expenses	(1.0)	(1.4)
Normalised EBIT-A	(1.7)	(2.0)
Acquisition amortisation	(1.0)	(1.0)
Normalised EBIT	(2.6)	(2.9)
Normalisations	(1.3)	(0.8)
EBIT	(3.9)	(3.7)

Due to rounding, numbers presented may not add.

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FINANCIAL POSITION

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Financial Position

• Record cash balance of $101 million up 116%, with net cash of $77.3 million (excluding right of use asset property lease liabilities of $5.5 million).

• Working capital decrease predominantly relate to the increase in sundry payables/accrued expenses and prepaid revenue received.

• Intangible assets predominantly relate to the acquisition of Pole Foundations Australia ($20.7 million).

• Franking account balance of $22.6m at 30 June 2024

• Fully franked final dividend of 2.5 cents per share declared, to be paid 1 November 2024.

• • Bank guarantee and surety bond facilities capacity of $210 million, up from $120 million at 30 June 2023.

• $70 million of bank guarantees and surety bonds were on issue at 30 June 2024 leaving headroom of $140 million .

Consolidated Statement of Financial Position	Jun-23	Jun-24
(A$ millions)
Cash and cash equivalents	46.7	101.0
Lease liabilities	(18.4)	(19.4)
Financial liabilities	(5.9)	(4.3)
Net Cash	22.4	77.3
Property,plant and equipment Right-of-use assets Financial assets Right of use lease liabilities Provision for deferred consideration Tax liabilities Workingcapital Net Tangible Assets Intangible assets (net of tax)	18.2 23.3 4.3 (3.4) - (15.3) 26.3 75.9 29.1	25.4 28.6 1.2 (5.5) (0.7) (13.2) (21.4) 91.7 29.5	FY2024 Results	Investor Presentation
Net Assets	105.0	121.2

Due to rounding, numbers presented may not add.

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CASH FLOW

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Cash Flow

• Cash balance at 30 June 2024 $101 million up 116% or $54.3

million

• Generated $93.5 million of Free Cash Flow (before Income Tax payments) during FY2024, compared to $30.2 million in the

prior year, as the Group maintained its focus on cash generation and optimisation of business operations. The exceptional operating cashflows resulted in an EBITDA to Free Cash Flow conversion rate of 208%.

• $17.5 million in Capex (net) in FY 2024 ($9.5 million debt funded).

	Jun-23	Jun-24
Consolidated Statement of Cash Flows
	A$M	A$M
Net cash provided by operating activities	39.2	82.8
Net cash (used in) investing activities	(7.3)	(15.8)
Net cash (used in) financing activities	(12.8)	(12.8)
Net change in cash and cash equivalents held	19.0	54.2
Cash and cash equivalents at beginning of period	27.9	46.7
Effect of foreign exchange rates on cash holdings in foreign currencies	(0.1)	-
Cash and cash equivalents at end of period	46.7	101.0

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Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.

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Part 2 Market & Growth Strategy

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MARKET DRIVERS

Australia is undergoing a renewables step-change

• The National Electricity Market’s (NEM’s) transition to higher renewables continues to occur at pace. Actual installed renewable capacity is tracking above the fastest Step Change scenario originally envisioned in the 2020 Integrated System Plan (ISP)*.

• The ISP requires building close to 10,000 km of new transmission lines and upgrades to existing networks by 2050 to connect new generation across the power system.

• These transmission projects are projected to reduce costs for consumers by delivering benefits that would recoup their $16 billion investment costs, save consumers a further $18.5 billion in avoided costs, and deliver emissions reductions valued at $3.3 billion.

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Source: AEMO Integrated System Plan 2024

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*Source: AEMO NEM Engineering Roadmap 2024

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Connecting the Future – Infrastructure

• AEMO’s Integrated System Plan underlines the scale of infrastructure in the next

• two decades to replace and cope with a huge increase in demand ; driven by economic growth, green industries and electrification of homes, businesses and

cars.

• AEMO’s step change scenario requires around 5,000 km of new transmission lines to be built over the next decade – and half of this is already under construction. The total requirement for step change out to 2050 is ~ 10,000 km.

• The 2024 ISP includes the fast-tracking of seven transmission projects that are now deemed “actionable”; confirming that Tasmania’s Northwest Transmission Development (NWTD), and the capacity upgrade for the infrastructure between Waddamana and Palmerston (WA-PA) are critical components for the national transition.

• The Western Australia South West Interconnected System Demand Assessment’s

• 'Future Ready' scenario shows peak demand would almost triple by 2042, requiring an additional 4,000km of transmission capacity.

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STRATEGY
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Sources: AEMO Integrated System Plan 2024 & SWIS Demand Assessment 2024

21

Major Network Upgrade & Maintenance Western Power SWIS Network

• Genus will deliver a major program of maintenance and upgrade works for Western Power, a Western Australian State Government-owned corporation responsible for building, maintaining and operating the South West Interconnecting System (SWIS) electricity network.

• This program of works extends the Genus relationship with Western Power that has been in place for many years. Genus will provide distribution and transmission overhead maintenance services across Western Power’s network, and the five-year agreement is expected to generate revenue of ~ $50 million in its first year.

• Genus successfully delivered key electrical works for Fortescue at the 100MW North Star Junction Solar Farm, 26km west of Iron Bridge.

Hybrid OHL Line Inclusive of drilling operations

• The Solar Farm will eliminate up to 180,000 tonnes of carbon dioxide equivalent from Fortescue’s operations annually.

• The facility is part of the Pilbara Generation Project and complements the Pilbara Transmission Project which Genus has been engaged on for a number of years, consisting of over 300km km of high voltage transmission lines connecting Fortescue mine sites.

• Works included

1.2 million metres DC Cable

• Supply & installation of Fibre Optic Cable & 33kV hybrid distribution/transmission overhead line, inclusive of drill operations

• Substation modification works

• Installation of Power Conversion Stations and auxiliary equipment

• 1.2 million metres of DC Cable

100,000+ hrs LTI Free

Major asset-upgrade, maintenance & reinforcement contracts

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. Maintaining strong relationships with our Utilities client base

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STRATEGY
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Telecommunications Infrastructure Construction in Australia

Strategy Update – Communications

• The NBN N2P Evolution Module contract is progressing well.

• Our Partnership with NBN continues to mature, and we are working closely to ensure work continuity.

• NBN is in the final stages in securing additional funding for the next round of N2P projects, if approved, Genus expects to be negotiating the next allocation in Q2 FY2025.

• The Mobile business is experiencing growth, aligned with its new target customers (network owners).

• It has won contracts under two strategic Telstra programs (the Telstra Mobile Blackspot & Regional Connectivity program and the Peri-Urban Mobiles program), indicating promising future opportunities.

• We are experiencing an uplift in fibre construction activity within the mining sector, with projects securing approvals to go into construction in Q2 FY2025.

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Source: IBISWorld

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Strategy Update – Industrial Services Utility Scale Renewable Projects

Industrial Services will expand on the current market offering of BESS to include Wind and Solar EPC Projects.

• Targeting High-Growth Regions: Focus on regions within Australia with strong wind and solar potential, particularly those with existing infrastructure and favorable grid conditions to support project viability.

• Expanding BESS Integration with Renewable Projects : Focus on integrating BESS with large-scale wind and solar projects in Australia to provide comprehensive energy solutions that enhance grid stability and maximise renewable energy output.

• Strategic Partnerships : Forge alliances with key technology providers, and delivery partners in the wind and solar sectors to enhance capabilities and ensure successful project delivery.

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STRATEGY
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Source: Clean Energy Council

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STRATEGY

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Market Snapshot – Industrial Services

As resources and energy projects in Australia increasingly adopt advanced automation technologies, the need for specialised E&I services is growing.

• Growth of Hydrogen and Energy Projects: The rising interest in hydrogen production and the expansion of gas infrastructure in Australia are driving demand for E&I services. These projects require specialised electrical and instrumentation work, creating significant opportunities for growth in the E&I sector.

• Ageing Infrastructure and Upgrades : Many existing resource and energy facilities in Australia are undergoing upgrades and maintenance to extend their operational life. This trend is leading to increased demand for E&I services to support the installation of new equipment, control systems, and safety upgrades, ensuring continued productivity.

27

CORPORATE

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Cor orate Overview p

		21 August	23 August
		2023	2024
Share Price (20 August 2024)	A$/sh	$1.20	$2.28
Number of Shares	M	177.7	177.7
Market Cap	A$M	$213.3	$405.2
Cash Debt (excluding ROU Property Leases liabilities)	A$M A$M	$46.7 $24.3	$101.0 $23.7

Board of Directors

Simon High Non-Executive Chairman

David Riches Managing Director / Founder

José Martins Non-Executive Director

Share price history & Shareholder information

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13.0%
52.7%
34.4%
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David Riches & related entities Other Top 20 Other Shareholders

Paul Gavazzi

Non-Executive Director

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Appendix

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Reconciliation of Non-IFRS Financial Information

$ Millions	FY2023	FY2024
Profit for the year (as reported)	13.4	19.3
Add Back Amortisation relating to acquisition intangible assets after tax	2.3	2.3
NPAT-A	15.7	21.5
Add Back:
• Acquisition costs	0.8	0.2
• Restructure costs	1.2	0.8
• ECM net claim (income) costs	0.2	(0.6)
• Fair value losses on investments/financial assets	0.3	0.9
• Tax expense prior year adjustment	(1.6)	-
Normalised Net profit after tax (NPAT-A)	16.6	22.8
Add back tax expense	6.9	10.8
Normalised profit before tax (PBT- A)	23.6	32.8
Add back: Finance costs	1.4	1.0
Normalised earnings before interest & tax (EBIT-A)	24.9	33.7
Add back; Depreciation & amortisation expense (excluding acquisition intangible assets)	11.9	11.6
Normalised earnings before interest, tax, depreciation & amortisation (EBITDA)	36.8	45.3

Notes:

EBITDA/EBIT-A/NPAT-A are non-IFRS measures that are unaudited but derived from auditor reviewed Half-Year Financial Statements. These measures are presented to provide further insight into GenusPlus Group’s performance.

EBIT-A and NPAT-A are adjusted for Amortisation expense relating to Acquisition of Intangible assets.

In FY2023 a review of the 2020 and 2021 the carrying tax base for PPE was completed which increased the value of the chattel mortgages not previously included, increasing the DTA and in turn reducing income tax expense. In the absence of this rectification relating to prior years, the effective tax rate for the year ended 30 June 2023, would have been 29%.

Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.

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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 available on the company's website at www.genus.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.

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