MADER GROUP LIMITED — AGM Information 2024

Oct 10, 2024

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Annual General Meeting – CEO’s Address

Perth, Australia – Friday, 11 October 2024.

WELCOME

Good morning, everyone. It’s my pleasure to welcome you all today to Mader Group’s sixth Annual General Meeting as a publicly listed business.

It has been another impressive year for the Group, and one I am very proud of. Through hard work and determination, we have continued our evolution into a global, diversified services business. Backed by a hard-working team, we have expanded our footprint and capabilities across new markets and industries, and I am appreciative of their efforts.

Further, I’d like to thank our Board – Luke, Pat and Craig for their support and guidance over not only this year, but the five before that. You’ve been instrumental in our journey, and I’m confident that with your leadership the business will continue to succeed.

WHO WE ARE

Mader started back in 2005 with Luke Mader, our Executive Chairman, Founder and first ever tradesman on the tools. What started out as one man providing mechanical support in the Kimberley region of Western Australia has since evolved into a global business, with technical services being provided across multiple industries. 19 years on, we proudly have a team of over 3,200 skilled technicians who, this year, have operated in seven countries and supported over 430 customers in more than 570 locations.

ORGANIC GROWTH

As you can see, we have evolved into a truly global, diversified business with our business model replicated across multiple industries worldwide. By launching fully organic start-ups in new markets, expanding geographically and broadening our suite of trades, we have been able to achieve an average compounding annual growth rate of around 30% over 10 years. The effect of this success is reflected clearly in our ability to achieve compounding financial results.

SPECIALISED WORKFORCE

Let’s move on to slide 16, where you can learn more about our specialised workforce. Evolving from one mechanic, to today having almost half of the business made up of other trades, we’re proud to have a diverse skill set. This includes but is not limited to Auto and High Voltage Electricians, Heavy Road and Light Vehicle Mechanics, Fixed Plant Trades, and many more.

We pride ourselves on our adventurous careers. This is more than just a buzz word, the opportunities we offer cater to the demographic of our workforce. For instance, two thirds of our workforce are under the age of 35 – and whilst we provide meaningful careers for people

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2 George Wiencke Drive T: +61 (08) 9353 3393 Perth Airport WA 6105 madergroup.com.au MADER GROUP LIMITED ABN: 51 159 340 397 ASX: MAD

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at any stage of life, our company culture and adventure-driven lifestyle particularly resonate with a certain demographic, drawing in those who seek more than just a job.

We offer tailored rosters, site variety and wide equipment exposure across multiple industries and locations. We invest heavily in our people and provide opportunities that are unparalleled in the industry. The centrepiece of our efforts lies in our two culture-led programs, Global Pathways and Three Gears. These have been continuously refined each year to align with the evolving aspirations of our people, but we will expand on this more later.

As always, we are dedicated to achieving zero harm across our operations. This year, our focus on safety led to the creation of our ‘Geared for Safety’ initiative. Geared for Safety embeds safety into every level of our business, emphasising the shared responsibility between our people, customers and leadership team to prioritise and maintain and safe working environment.

With this underpinning everything we do, we’re pleased that our Total Recordable Injury Frequency Rate improved, with 3.49 recordable injuries per million hours worked. Further, over the FY24 financial year, we undertook a major vehicle safety upgrade project to equip our fleet with advanced driver monitoring tools, including driver fatigue monitoring systems. As always, we remain committed to improvement and will continue to seek ways to ensure our people return home safely to their loved ones.

FY24 FINANCIAL HIGHLIGHTS

We are pleased to provide an overview of our FY24 Financial Highlights, which were released at the end of August. The highlights for FY24 included delivering $774.5 million in revenue, an increase of 27%, and up from $609 million in FY23. EBITA was up 32%, with $99.2 million delivered, and NPAT closed out at $50.4 million, which was an increase of 31% from $38.5 million in FY23.

We closed the year at $31.2 million in net debt, which was down 27% from $42.7 million at June 2023. Finally, we declared a 7.8 cent per share fully franked dividend for the full year period, ended 30 June 2024. This represents a 34% increase from 5.8 cents per share last financial year – and I’m sure you can agree, a pleasing result for our shareholders. The progress we’ve made is evident in these results, and we believe it showcases our continued, transformative growth.

OPERATIONAL REVIEW

Over onto slide 19, you can view our revenue profile, segmented by region. In Australia, revenue grew by 25%, delivering $585.7 million. Our core mechanical services remained strong nationally, growing by 24%, whilst one of our growth drivers, infrastructure maintenance delivered a 35% increase compared to the previous year.

In North America, revenue increased by 34%, producing $177.8 million for the full year. We expanded significantly, operating in 37 States in the US and eight provinces and territories in Canada. Canada, in particular, saw strong support from our Global Pathways program, which

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2 George Wiencke Drive T: +61 (08) 9353 3393 Perth Airport WA 6105 madergroup.com.au MADER GROUP LIMITED ABN: 51 159 340 397 ASX: MAD

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mobilised over 65 technicians in FY24. Mader Energy will continue to target gas compression across multiple shale formations and customers in the United States.

Jumping over to our Rest of World operations, we provided specialist services and technical support for customers in four countries across Asia and Oceania. With revenue up 36% versus the prior corresponding period, this year has been the best growth we’ve had for this segment since rebuilding our operations following the COVID-19 pandemic.

STRATEGIC PLAN

Moving on to our next slide, the Strategic Plan. Three years ago, the Board laid the foundation for our future, by setting out some key areas of focus in our first Strategic Plan as a publicly listed business. Since then, this has been a blueprint to guide our growth.

The Strategic Plan detailed growth targets and operational goals in four key areas; geographical diversification, service line diversification, expansion of industry verticals, and to scale the existing business. Further, targets for NPAT were set out as you can see detailed here. With that said, we identified the need to establish a series of core building blocks to create a solid foundation for our future growth. That leads us into slides 22 and 23, the Building Blocks.

THE BUILDING BLOCKS

The building blocks we've developed over the years embrace a comprehensive approach to growth that goes beyond just financial metrics. Starting off with probably the most significant growth driver behind our business today is our culture. You may have heard the term ‘cultureled business’ used by us quite frequently, and this is no mistake. It underpins everything we do, and all facets of operations are driven with culture in mind.

We’re proud to have a number of exciting programs, like Global Pathways and Three Gears. With these, our employees really get the best of both worlds – travel the world whilst working, and then spend their down time with internal adventure division, Three Gears. This is truly unmatched in the industries we operate in.

This year we delivered Three Gears adventures in four countries – Australia, New Zealand, United States and Canada. I was lucky enough to go on some of the experiences, which range from exhilarating thrills like canyoning and ziplining, to tranquil campouts and relaxed BBQ’s. Our adventures are designed to be as diverse as our people, and I commend the team for extending these experiences globally to mark the final stage in our roll out of Three Gears.

Additionally, and almost as important as culture, are our building blocks across different industry verticals. Applying our tried and tested business model into new, addressable markets allows us to create a compounding effect and diversify revenue streams. For instance, there are a wide range of opportunities in several large addressable markets in resources and infrastructure maintenance – and we are only just getting started.

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2 George Wiencke Drive T: +61 (08) 9353 3393 Perth Airport WA 6105 madergroup.com.au MADER GROUP LIMITED ABN: 51 159 340 397 ASX: MAD

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AN EVOLVING BUSINESS

We’re proud to have a proven track record of organically replicating our unique business model across multiple industry verticals. Exploring opportunities outside of our core services will allow us to capitalise on extending across industry verticals and geographies, effectively creating more opportunities for our people, and diversifying revenue streams for sustainable growth.

MULTIPLE BEACHHEADS TO TARGET GROWTH

In addition to enhancing our service offerings, geographical expansion remains central to our growth strategy. We have multiple geographical beach heads and are always looking to enter new locations and diversify our commodity exposure.

As you can see, North America contributes 23% of Group revenue. Our North American segment continues to perform in line with business unit maturity. There is a significant runway ahead for us, with demand in the region largely untapped. Our Australian business continues to generate a large portion of revenue for the Group, at 75%. We are confident that we will continue to deliver strong results in this area, with diversification across sites, customers, industries and service offerings.

Lastly, our Rest of World segment contributed 2% to revenue across the business. Whilst this is still a modest number, we believe in the value this segment brings to our adventurous workforce as a method of attracting and retaining skilled specialists. This year, we continued to actively engage in opportunities with customers in Asia and Oceania to meet demand.

JUST GETTING STARTED

As a business, we continually seek to improve the diversity of our revenue profile. This is a pivotal step toward achieving our FY26 target of $1 billion in revenue. Through the strategic enhancement of our service offerings, we can tap into new markets that allow us to expand the Group’s revenue streams. We are constantly assessing addressable markets that we can apply our culture-led business model to.

This is key to driving future growth and ensuring long-term sustainability of the business. Our diversified operations will create compounding returns for our shareholders expected to continue into FY25 and beyond.

STRATEGIC PLAN PROGRESS

This slide here shows our progress against the NPAT targets set in our Strategic Plan. As you can see, for the first three years of our current Strategic Plan, we have not only achieved, but exceeded our NPAT targets. This is an exceptional result, and one we will continue to strive towards maintaining in FY25 and FY26. We are more determined than ever to achieve these ambitious goals and believe we have the drive, the team and the financial discipline to do so.

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2 George Wiencke Drive T: +61 (08) 9353 3393 Perth Airport WA 6105 madergroup.com.au MADER GROUP LIMITED ABN: 51 159 340 397 ASX: MAD

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HIGH GROWTH AGENDA

With low capital intensity, a unique culture-led business model and opportunities identified to accelerate growth, Mader expects FY25 guidance of at least $870m revenue, and NPAT of at least $57 million.

We have delivered a 10-year compounding annual growth rate of around 30% and as the business continues to mature, we are excited to continue to deliver the compounding effect of the Mader business model to existing and new markets. In doing so, not only will we deliver continued growth into FY25 but solidify our longer-term target of $1 billion of annual revenue and an NPAT of $65 million in FY26.

INVESTMENT CASE

As I reflect on the FY24 financial year, and the few before that, the transformation of Mader into a global, diversified services provider is nothing short of extraordinary. For current and prospective investors, Mader presents a truly robust investment opportunity with many prospects ahead.

Acting with confidence, seizing opportunities and creating adventurous careers for our people, we have grown to have a market cap of over $1 billion. On behalf of Mader Group, I’d like to extend my gratitude to each of those alongside us for this journey – our valued team, customers, suppliers and shareholders. Thank you for your support.

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About Mader Group Limited

Mader Group Limited (ASX:MAD) is a global leader in the provision of specialist technical services across multiple industries. Today, the Company’s well-established labour market platform allows it to connect a global network of over 430 customers to a skilled in-house workforce of approximately 3,200+ personnel on flexible, fit for purpose, and costeffective terms. Mader Group has received numerous accolades, including Employer of the Year at the 2023 RISE Business Awards and Large Employer of the Year at the 2023 TAFE Queensland Awards. They were also recognised with Excellence in Mine Safety, OH&S at the 2023 Australian Mining Prospect Awards and as an Excellence Awardee at the 2024 Australian HR Awards.

Chief Executive Officer Chief Financial Officer Justin Nuich Paul Hegarty justin.nuich@madergroup.com.au paul.hegarty@madergroup.com.au

Approved for release by the Board of Mader Group Limited.

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T: +61 (08) 9353 3393 madergroup.com.au

2 George Wiencke Drive Perth Airport WA 6105

MADER GROUP LIMITED ABN: 51 159 340 397 ASX: MAD