MYECO GROUP LTD — Interim / Quarterly Report 2013

Feb 25, 2013

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TO: COMPANY ANNOUNCEMENTS OFFICE ASX LIMITED

DATE: 26[th] February 2013

HALF- YEAR RESULTS- MATERIAL VARIANCES

In accordance with Listing Rule 3.1, the Company wishes to advise of the following material variances to its half yearly results to December 2012 compared to that of the corresponding period last year.

Revenue

Revenue for the 6 months period to December 2012 has decreased by $165,667 ( 6.21%) to $2,502,075 as compared to the revenue of $2,667,742 for 6 months period to December 2011.The main reasons for decrease in revenue were:

• Decrease in sales from all the geographical segments except Asia. Sales have decreased by $72,482 for 6 months period to December 2012 as compared to the same period last year;

• Decrease in interest income (by $42,573) due to reduced bank balance compared to the same period last year;

• During the six months period to 31 December 2011, the Company has recognised licence fees income of $75,450 in relation to its Malaysian Joint Venture, no such income is required to be recognised for six months period to December 2012.

Loss Position

The Company’s loss from its bioplastics business for the 6 months to December 2012 was ( $1,016,837) , an improvement of 32.63% or $492,527 over the six months to 31 December 2011 ($1,509,364).

The main reason for improved loss position is due to cost savings from the restructuring measures that have been put in place from June’12 Quarter.

Further, the Company improved on its consolidated loss position for the 6 months to December 2012 ($1,016,837) by 53.38% compared to a loss of ($2,181,371) for the same period in 2011.

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The decrease in the Consolidated Net Loss is attributable to

• improved loss position of bioplastics business as explained above,

• there were no impairments required on the Company’s investment assets for the six months period to 31 December 2012, compared to recognised impairment loss of $672,007 in its investments for the six months period to 31[st] of December 2011.

PAT VOLPE Chairman