KORVEST LTD — Capital/Financing Update 2022

Jan 6, 2022

ABN 20 007 698 106

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ASX Release

Trading Update

Trading Update

On 7 October 2021 Korvest announced that it expected the first half profit before tax, including the previously disclosed profit on sale of Power Step and Titan Technologies, to exceed $8 million. The second quarter trading has exceeded expectations with a significant concentration of major project work and ongoing strength in the small projects and day-to-day markets.

As a result, the preliminary trading results, which have not yet been subject to audit review, indicate that the first half profit before tax will be in the range of $9.4 – 9.8 million.

Korvest’s half year results are expected to be announced on 21 January 2022 and will include an update on expected second half trading.

For further information please contact:

Mr Chris Hartwig Managing Director Korvest Ltd 08 8360 4500

7 January 2022

This announcement was authorised by the Board of Directors.