NICK SCALI LIMITED — Capital/Financing Update 2021

Jul 18, 2021

NICK SCALI LIMITED A.B.N: 82 000 403 896

Level 7, Triniti 2, 39 Delhi Road North Ryde 2113 NSW AUSTRALIA TEL: +61 2 9748 4000

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19 July 2021

Response to media reports regarding Plush Sofas

We refer to press speculation regarding Nick Scali Limited (ASX:NCK) (“Nick Scali” or the “Company”).

Nick Scali confirms that it is in non-exclusive discussions with Greenlit Brands regarding a potential acquisition of the Plush Sofas business (“Plush”).

As previously communicated to the market, the Company actively considers acquisitive growth opportunities from time-to-time having regard to the strategic rationale, available synergies, financial impact and the long-term value created for Nick Scali shareholders.

There is no certainty that the current discussions, which are ongoing and incomplete, will result in a binding transaction for Plush or that any agreement will be reached with Greenlit Brands.

Should any transaction with Greenlit Brands proceed, Nick Scali would expect to be able to fund this with a combination of cash on hand and debt.

Authorised by the Board of Nick Scali Limited