HITECH GROUP AUSTRALIA LIMITED — AGM Information 2021

Nov 25, 2021

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HiTech Grou Australia Limited p

2021 Annual General Meeting - 26 November 2021

Chairman’s Address to Shareholders

Welcome to our 21[st] Annual General Meeting as a publicly listed company.

FY2021 Results:

For the financial year ended 30 June 2021, the consolidated entity’s operating revenue is $42,168,504 an increase of 26% over the previous corresponding period (pcp):

• Gross Profit of $7,059,491, an increase of 16% over pcp (FY20: $6,105,679).

• NPAT of $3,636,602, an increase of 9% over pcp (FY20: $3,336,117).

• EBITDA of $5,214,886, an increase of 20% over pcp (FY20: $4,330,867).

The directors have declared a fully franked dividend of 5 cents per share . The dividend was paid on 15 September 2021 to shareholders registered on close of business on 1 September 2021. Total dividends for the past 12 months of 10.5 cents per share fully franked.

During FY2021, despite the ongoing Covid-19 lockdowns, the HiTech Group, yet again, achieved record financial results whilst maintaining a high performing work culture amongst the resilient and dedicated team of employees.

Our balance sheet remains the healthiest in the industry with ample cash reserves. Our proven, tried and tested business model is versatile and adaptable to change. We have an engrained culture of adapting to change and that is exactly what our dedicated HiTech family was able to do in these testing times.

We are committed to improving our revenues and profitability which are at record highs. The majority of our revenue is still generated from our core ICT recruitment and contracting business and we remain active in non-ICT areas of recruitment. We have been focused on expanding our partnerships with existing high value clients whilst still searching out new clients all around Australia to successfully expand our client base.

We stand ready to take advantage of market opportunities promising organic growth and potential accretive acquisitions to increase stakeholder returns. The future for HiTech continues to look brighter than ever.

The directors extend their appreciation to all our team members (the HiTech family) for their efforts during the 2021 financial year.

Outlook for FY2022 is looking strong with continued demand for our services

Our outlook for FY2022 remains positive and optimistic - depending on the prevailing economic conditions and the demand for ICT human talent from both the government and private sectors.

Based on unaudited internal management accounts for the period up to end of October 2021, the Group’s expected Profit and revenue for the first half of FY2022 is expected to be greater than the pcp . I am delighted with our results so far.

Exact results can't yet be released but we expect continuing growth for the full year FY2022. We will keep the market updated as required.

HiTech remains a strong, profitable, and resilient business, with growing revenue and record profit, a strong balance sheet, solid cash reserves and no debt. We have shown that we can manage the disruptions of the pandemic and stay profitable with a record result! We aim to continue that profitable growth path.

We are determined to improve our financial performance and profit results and will continue to do our best to improve growth both organically and via disciplined external acquisitions as appropriate.

I thank you all for your support and commitment as shareholders, staff members, candidates, contractors and valued clients.

Ray Hazouri Chairman

26 November 2021