GLG CORP LTD — AGM Information 2021

Nov 25, 2021

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26 November 2021
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GLG CORP LTD ~~Annual General Meeting~~ Virtual Meeting

26[th] November 2021 (Friday) 3.00 pm AEST/12.00 pm SGT WELCOME

AGM FY2021

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Cautionary Note on Forward-looking Statements

This presentation may contain statements regarding the business of GLG Corp Limited and its subsidiaries (‘Group’) that are of a forward looking nature and are therefore based on management’s assumptions about future developments.

Such forward looking statements are intended to be identified by words such as ‘believe’, ‘estimate’, ‘intend’, ‘may’, ‘will’, ‘expect’, and ‘project’ and similar expressions as they relate to the Group. Forward-looking statements involve certain risks and uncertainties because they relate to future events. Actual results may vary materially from those targeted, expected or projected due to several factors.

Potential risks and uncertainties includes such factors as general economic conditions, foreign exchange fluctuations, interest rate changes, commodity price fluctuations and regulatory developments. Such factors that may affect GLG Corp’s future financial results are detailed in our 2020 Annual Report. The reader and/or listener is cautioned to not unduly reply on these forward-looking statements. We do not undertake any duty to publish any update or revision of any forward looking statements.

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AGM FY2021

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2

Directors’ Review

AGM FY2021

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Income Statement

Full Year Performance FY2021 vs FY2020

GLG Corp Ltd	ACTUAL FY2021	ACTUAL FY2020	**% change **
	US$’000 183,804 (150,712)	US$’000 178,047 (138,892)	3.2% 8.5%
Revenue
Cost of Sales
Gross(Loss) / Profit	33,092 3,151 (9,083) (11,715) (1,813) (9,742)	39,155 3,170 (6,739) (11,909) (3,504) (14,950)	-15.5% -0.6% 34.8% -1.6% -48.3% -34.8%
Other OperatingIncome
Selling& Distribution
Administrative Expenses
Finance costs
Other OperatingExpenses
Profit Before Tax	3,890 (1,629)	5,223 (1,427)	-25.5% 14.2%
Income Tax
Profit After Tax	2,261	3,796	-40.4%

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AGM FY2021

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FY2021 Dividends GLG Corp Ltd

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Distributions Unfranked amount Total amount US$ Payment date
per security in US
cents
Interim ordinary 1.0 741,000 15 April 2021
unfranked dividend
Final ordinary 1.0 741,000 18 October 2021
unfranked Dividend
Total unfranked 2.0 1,482,000
dividend
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% of net profit = 65.5% (US$1,482k/US$2,261k)

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AGM FY2021

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Revenue by Key Customers
AGM FY2021 FY2021 vs FY2020
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BUYER Actual'2021 Actual'2020 Variance Act'21 vs Act'20
WALMART STORES INC 54,460 45,718 8,742 19.1%
MACY'S 32,202 30,896 1,306 4.2%
WAL-MART CANADA CORP 26,942 15,427 11,516 74.6%
MASKS CUSTOMERS 20,974 43,601 -22,626 -51.9%
GIII 15,507 12,559 2,948 23.5%
AERO OPCO 10,074 14,402 -4,328 -30.1%
NAUTICA 8,884 3,972 4,912 123.7%
KOHL'S 8,825 2,350 6,476 275.6%
AMAZON 2,458 1,017 1,441 141.7%
OTHERS 3,478 8,108 -4,630 -57.1%
TOTAL 183,804 178,047 5,757 3.2%
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Cost below Gross Margin Analysis FY2021 vs FY2020

	FY2021	FY2020	% Change
	US’000	US’000
Selling& Distribution Expenses	(9,083)	(6,739)	34.8%
Administrative Expenses	(11,715)	(11,909)	-1.6%
Finance Costs	(1,813)	(3,504)	-48.3%
Other OperatingExpenses	(9,742)	(14,950)	-34.8%

Selling and distribution costs increased by 34.8% or US$2.3m, from US$6.7m to US$9.1m in FY2021 mainly due to:

• ➢ duty and freight cost incurred on reinstatement of sales from postponed Land-Duty Paid customers’ orders, increase in global freight rates and customs duties incurred by the subsidiaries.

The decrease in Administrative costs by 1.6% or US$0.2m in the company was mainly due to:

• ➢ lower payroll cost in streamline of the process

• Finance costs decreased by 48.3% from US$3.5m in the previous year to US$1.8m in this financial year, mainly due to: ➢ lower interest rate and better cash management on invoice financing.

Other expenses decreased by 34.8% from US$15.0m to US$9.7m was mainly due to:

• ➢ reduction in debts written off on outsource manufacturer and a joint-venture in the previous year.

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AGM FY2021

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Financial Highlights of FY2021

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AGM FY2021 Key Milestones for FY2021
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GG Fashion (Cambodia) Co. Ltd obtained Global Organic Textile Standard (GOTS) certificate compliance in Nov’20

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Maxim Textile Technology Sdn Bhd obtained certificates compliance in Jan’21

• ➢ Global Organic Textile Standard (GOTS),

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• ➢ Global Recycled Standard (GRS) and;

• ➢ Organic Content Standard (OCS)

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Operational Highlights of FY2021

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AGM F2021

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Operational Highlights of FY2021

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Operational Highlights of FY2021

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Operational Highlights of FY2021

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Operational Highlights of FY2021

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AGM FY2021

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AGM FY2021 16

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