MYECO GROUP LTD — Investor Presentation 2021

May 25, 2021

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CHANGING THE WORLD OF PACKAGING

Investor Presentation May 2021 SECOS GROUP LIMITED (ASX: SES)

ASX:SES 1 INVESTOR PRESENTATION – MAY 2021

SECOS COMPANY PROFILE

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SECOS Group Limited (ASX: SES) is a leading developer and manufacturer of sustainable packaging materials

Sales split by product type, 1H FY21

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Food
diversion Hygiene
Dog waste
bags
Femcare
Bags
Food bags &
box liners SECOS produces eco- Film
friendly bioplastics using
Bin starch-based polymers to
liners create a wide range of Medical
certified (Industrial &
Home) compostable &
bio-based products
Magazine
overwrap
Resin
Converters
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• 129% increase in bioproduct sales in 1HFY21 vs PCP

• Bio-based sales as a % of total sales increased to 73% in 1H FY21 vs 39% PCP

• Maiden half-year profit at $66k (Dec Qtr $210K) vs $1.1m net loss PCP

• (Dec Qtr $210K) vs $1.1m net loss PCP • Gross margin 18.2% in H1 FY21 up from 14.2% PCP •

• First phase expansion of China plant completed (adds $3m in sales capacity)

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• Launching a new biopolymer plant in
Malaysia (expected to add $25m)
• Global sales to 20 countries
•
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• Protected by strong patents and technical knowhow

• Established distribution channels

SECOS GROUP LIMITED (ASX: SES)

INVESTOR PRESENTATION – MAY 2021

2

THE PLASTIC PROBLEM

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Increasing volume of plastics produced, consumed and wasted detrimental to health and humanity

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3.5m tonnes

1m tonnes

Plastics used Annual single-use by Australians in plastic use by 2018-19 Australians

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$419m

2X

Expected increase use Economic value lost by of plastic globally by not recovering PET 2040 and HDPE

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70B pieces

Annual use of soft food wrappers by Australians

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130,000 tonnes

Plastics reaching the marine environment in Australia annually

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113,000

Estimated number of pieces of microplastic that are digested by a human annually

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84%

Plastic used in sent to landfill

Source: Australian National Plastics Plan 2021

SECOS GROUP LIMITED (ASX: SES)

INVESTOR PRESENTATION – MAY 2021

3

SECOS ROLE IN THE SOLUTION

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SECOS positioned to assist in delivering outcomes aligned to the National Plastics Plan 2021

National Packaging Targets for industry:

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100% of packaging is reusable, recyclable or compostable

70% of plastic packaging goes on to be recycled or compostable 50% average recycled content within packaging (20% for plastic packaging)

Problematic and unnecessary single-use plastic packaging phased out (target 5 of NWPAP)

Compostable plastics play a key role in each of the National Packaging Targets for industry and SECOS is well positioned to meet the growing demand in this space

Source: Australian National Plastics Plan 2021

SECOS GROUP LIMITED (ASX: SES)

INVESTOR PRESENTATION – MAY 2021

4

SECOS INTEGRATED BUSINESS MODEL

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Provides cost and supply chain efficiencies, and flexibility in best utilising production capacity

~~Fully vertically integrated production capacity from raw materials to finished product~~

~~Cardia Biopolymer Resin~~

~~Cardia Biopolymer Film~~

~~Film converted to bags~~

~~Direct sales under MyEcoBag brand~~

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B2B

B2B

Sold to converters Sold to converters such as

Hygiene & Femcare manufacturers

B2B

Sold to directly to retailers under Cardia or retail brands

B2B & B2C

Sold directly to retailers and direct under MyEcoBag™or MyEcoWorld™

At each stage SECOS can sell globally to converters or use internally to create & sell end product, either resin film or bags

SECOS GROUP LIMITED (ASX: SES)

INVESTOR PRESENTATION – MAY 2021

5

SECOS HAS PROVEN EXPERTISE

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SECOS is an integrated developer of bioplastics technology

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Global production capacities of bioplastics by material type
(2020)
Other non-
biodegradable PBAT
1.1%
13.5%
PET
10.5%
PBS
4.1%
PET
7.8%
41.9% 58.1%
Non-biodegradable PA 2.11 Biodegradable
11.9% PLA
million tonnes 18.7%
PP
1.4%
PHA
PTT
1.7%
9.2%
Other
Starch blends
biodegradable 18.7%
1.4%
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• There are multiple biopolymer precursors and each offer unique benefits and application properties.

• SECOS has expertise in developing and compounding resin grades best suited to commercial applications with a strong track record and sales success so far.

Ongoing investment in R&D will ensure SECOS can continue its success in bringing new resin grades to market for commercial use across a growing range of new applications and products

• SECOS’ vertical integration from compounding to retail sales offers a unique competitive advantage due to the ongoing demand for new compostable products and changing regulations

Source: European Bioplastics, nova-Institute (2020)

SECOS GROUP LIMITED (ASX: SES)

INVESTOR PRESENTATION – MAY 2021

6

SECOS’ MARKET FOCUS - 70% OF PLASTICS ARE FLEXIBLE OR FILMS

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More countries and governments are embracing compostable technologies

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Food and organic Food Hygiene and Retail Pet market Agriculture diversion packaging Femcare Local government rolling Compostable food Consumer demanding Nappy and femcare Pet waste driving Compostable out food and garden packaging provides a environmentally friendly brands moving to boom in compostable agricultural film offers organic waste diversion safe alternative to products driving sales in manufacture fully pet bags worldwide an environmentally programs (FOGO) that traditional plastics retail outlets for a range compostable nappies, superior and safer use Cardia ™ compostable known for causing of compostable bags and pads and other hygiene alternative to using bags to allow households Microbeads and plastic packaging products e.g. products. traditional plastics when to separate their food leaching retail bags, courier bags growing crops waste

SECOS GROUP LIMITED (ASX: SES)

INVESTOR PRESENTATION – MAY 2021

7

THE OPPORTUNITY

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Compostable production capacity is anticipated to grow at 31% p.a. from 2020 to 2023 (10x of conventional plastics growth)

Anticipated growth in the Bioplastics and Biopolymers market (US$)

% growth from 2019 to 2020 between conventional flexible plastic production companies and SECOS Biopolymers

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20.0%
$27.9B
SECOS’ H1’21 Bioplastic sales
grew by over 129% PcP
CAGR
21.7%
2.0% 2.3%
1.0%
$10.5B
-3.9%
2020 2025 F Berry Sealed Air Amcor PACT SECOS
Source: Markets and Markets, Bioplastics & Biopolymers Market Source: Company reports
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SECOS GROUP LIMITED (ASX: SES)

INVESTOR PRESENTATION – MAY 2021

8

GROWTH STRATEGY

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Strategic approach to creating value

5. Expand global footprint

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4. Branding
and distribution
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The recent Malaysian investment bringing 4. Branding
capacity available to deliver up to $60m in
and distribution
sales when fully utilised
3. Focus on core
product categories
2. New product
development
1. Production
capacity
Develop a strong global
retail brand and
distribution network for
Continue sales of resin,
compostable products –
films and bags for sales
MyEcoWorld
growth
Invest in state of the art
R&D capability to extend
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Invest in state of the art R&D capability to extend commercialisation of new products and applications

Invest in capacity to support $100m in sales over next three to four years

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To service world markets and achieve strong operational redundancies

SECOS GROUP LIMITED (ASX: SES)

INVESTOR PRESENTATION – MAY 2021

9

KEY STRENGTHS & HIGHLIGHTS

Current annualised sales run rate of over $30 million pa reflecting a 50% YoY growth rate

Bioplastic sales growing at 129% pcp H1’21 outstripping conventional plastic growth of leading players

Strong balance sheet with > $12m cash and no debt

New Malaysian biopolymer plant to add circa half billion bags by March quarter 2022

Current capacity expansion when sold will add incremental revenue of $25m per year

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Developed a proprietary compostable resin formulation to run off the Group’s high speed hygiene cast lines

Growing government and legislative changes moving to further support compostable technology

Further investment into new product development to open new market opportunities

Scale and expansion providing SECOS with greater global reach and stronger supply chains

SECOS GROUP LIMITED (ASX: SES)

INVESTOR PRESENTATION – MAY 2021

10

OUTLOOK

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SECOS at a tipping point for future growth with significant number of upcoming events

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Growing push for more environmental packaging and legislative changes Current investment expected to continue taking sales capacity to Planned capacity over $60 million pa expansion aimed to Growth in pet waste bags achieve over $100 million expected and underpinned sales potential within next by US$3 million Jewettfour years Cameron contract in USA Expansion of MyEcoBag™ range via retail stores Expansion of local Council First compostable expected including organic waste diversion hygiene cast film Woolworths programmes (FOGO) expected to drive sales growth sales expected second half of 2021 Strong forward pipeline from major brands in Full year profit on various regions track with strong growth expected to continue into FY’22 ~~Near term outlook Longer term outlook~~

SECOS GROUP LIMITED (ASX: SES)

INVESTOR PRESENTATION – MAY 2021

11

DIVERSE GLOBAL CLIENT BASE

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Over 358 Clients across 20 countries across government, industrial and consumer verticals

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SECOS GROUP LIMITED (ASX: SES)

INVESTOR PRESENTATION – MAY 2021

12

CORPORATE OVERVIEW

ASX Code: SES
Share Price (24 May 2021)	$0.24
Market capitalisation @ 24 cents	$125m
Shares on issue (listed)	535m
Cash on hand (30 April 2021)	$12.3m

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Substantial Shareholders

R&K Edwards Investments LLC	10.7%
Belgravia Strategic Equities	9.6%
Donald Haller Jr	8.5%
Top 20	60.8%
Total Board and management shareholdings*	20.2%

*Includes indirect holdings

Board & Executive Members

Richard Tegoni Executive Chairman Ian Stacey Chief Executive Officer Donald Haller Jr Non-Executive Director David Wake Non-Executive Director Jim Walsh Non-Executive Director Stephen Walters Executive Director Edmond Tern Chief Financial Officer, Company Secretary

SECOS GROUP LIMITED (ASX: SES)

INVESTOR PRESENTATION – MAY 2021

13

FORWARD-LOOKING STATEMENTS DISCLAIMER

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This presentation contains “forward-looking statements.” Such forward-looking statements may include, without limitation:

• estimates of future earnings;

• estimates of future production and sales;

• estimates of future cash costs;

• estimates of future cash flows;

• statements regarding future debt repayments; and

• estimates of future capital expenditures.

This document may include forward looking statements. Forward looking statements include, but are not necessarily limited to, statements concerning SECOS’ planned operational program and other statements that are not historic facts. When used in this document, the words such as “could”, “plan”, “budget”, “estimate”, “expect”, “intend”, “may”, “potential”, “should” and similar expressions are forward looking statements. Although SECOS believes its expectations reflected in these are reasonable, such statements involve risks and uncertainties, including but not limited to risks and uncertainties relating to impacts that may arise from Covid-19, and no assurance can be given that actual results will be consistent with these forward-looking statements. SECOS confirms that it is not aware of any new information or data that materially affects the information included in this announcement and that all material assumptions and technical parameters underpinning this announcement continue to apply and have not materially changed.

All financial amounts are expressed in Australian dollars unless otherwise indicated. The Company trades globally using over four different currencies which may materially impact the consolidation of the group’s accounts and may impact the outcome of future events or results expressed or implied in this presentation.

SECOS GROUP LIMITED (ASX: SES)

INVESTOR PRESENTATION – MAY 2021

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15 INVESTOR PRESENTATION – MAY 2021

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SECOS GROUP LIMITED (ASX: SES)
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