SERVICE STREAM LIMITED — Interim / Quarterly Report 2007

Mar 7, 2007

Half Year Results Presentation March 2007

Agenda

• Results Highlights
• Financial Summary $\bullet$
• Group Overview
• Outlook $\bullet$

Highlights – Half-year to Dec 2006

• Record earnings performance $\bullet$
• Revenue up 20.4% to \$96.1M
• EBITDA up 52.8% to \$6.2M $\bullet$
• NPAT up 75.6% to \$3.3M $\bullet$
• Market Capitalisation exceeds \$200M
• Increased fully franked interim dividend of 3.0 cents per share $\bullet$
• Growth through acquisitions and organic growth $\bullet$
• All divisions performing well $\bullet$
• Significant new contracts signed $\bullet$

Half Year in Review

Aug 06 Acquired Fibercom Aug 06 Vodafone contract extension and expansion Jan $07$ Completes merger with TCI Cancels 40.3M shares Jan 07 Acquired General Purpose Group Jan 07 Feb 07 Awarded Do Not Call Register contract

Financial Summary - Reported Result

	HY 2006*	HY 2005	% change
Revenue	\$96.1M	\$79.8M	$+20.4%$
EBITDA	\$6.2M	\$4.0M	$+52.8%$
EBIT	\$5.2M	\$3.3M	$+57.2%$
NPAT	\$3.3M	\$1.9M	$+75.6%$
Earnings Per Share	4.67 cps	3.43 cps	$+36.2%$
Interim Dividends	3.0 cps	0.75 cps	$+300.0%$

* HY 2006 results do not include any earnings for TCI (acquired 20 December 2006)

Financial Summary - Pro Forma Result

. Do sede o transferência para a provincia para a provincia de la provincia de ومناولهم والمتواط والمتواطئ متعاونه والمتواطئ ومتعاونه والمتواطئ متعاونة والمتواطئ والمتواطئ	HY 2006*	HY 2005	% change
Revenue	\$138.5M	\$79.8M	$+73.6%$
EBITDA	\$14.5M	\$4.0M	$+262.5%$
EBIT	\$13.3M	\$3.3M	$+303.0%$
NPAT	\$7.9M	\$1.9M	$+315.8%$

* HY 2006 Pro forma results assumes TCI was acquired on 1 July 2006

Continued Strong Growth

servicestream

Half-year Revenue / EBITDA (Pro Forma Dec 06)

Revenue (Pro-forma) EBITDA

Continued Strong Growth

EBITDA \$m (Pro Forma Dec 06)

EBITDA % Margin (Pro Forma Dec 06)

servicestream

Balance Sheet

\$ million	31 Dec 2006*	30 Jun 2006		31 Dec 2006	30 Jun 2006
Cash	9.0	2.0	Payables & provisions	41.3	23.6
Receivables & WIP	55.2	33.0	Borrowings	38.3	6.5
Fixed Assets	5.7	4.4	Non-current liabilities	9.7	0.6
Other	6.1	1.4
Goodwill	148.2	18.6
Total Assets	224.2	59.4	Total Liabilities	89.3	30.7
Net Assets				134.9	28.7
Issued Capital				129.8	25.9
Reserves				0.9
Retained earnings				4.2	2.8
Equity				134.9	28.7

* 31 Dec 2006 include the balances of TCI

Source: Company data py
Pservicestream

Station Report — Service Steeding Stream (

• 2,100 staff and 22 branches nationally providing: ۰
• Outsourced field force management $\mathbf{u}$
• Technical support
• Customer assistance
• Asset management services
• Core operating divisions Communications and Solutions
• Telecommunications sector focus
• Solid platform and infrastructure in place to: ۰
• Service multiple industry profiles telecommunications, utilities and related CPE environments

National Coverage - Service Stream Group

• 22 Locations
• Over 2,100 Staff
• Telecommunications industry managed services specialist
• Fixed line and wireless expertise
• Estimated annualised revenue and EBITDA of \$300m and \$27m

Busines Structure

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of Radhaz Pty Ltd

TCI - Ciients / Projects

• Vodafone National responsibility for 2G and 3G rollout ۰ (Acquisition & Build)
• Completing Adelaide & Perth 3G rollout.2G works across all $\bullet$ regions
• Telstra Design, Construct, Installation & Commissioning -National
• Design & build activity across all States $\bullet$
• Motorola Design & Build for Digital 2 way network (NSW & Qld)
• Radhaz Electromagnetic Energy Consulting services (Aus & NZ) ۰
• Provision of professional services to vendors, carriers & $\bullet$ contractors

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O vodafone

TCI - Ciients / Projects

• Austar Eastern States Regional Wireless Broadband rollout (Turnkey)
• Commercial rollout progressing approx 100 sites. Additional $\bullet$ sites from Broadband
• Connect funding will be known mid June 2007 $\bullet$
• Ericsson 3G 850Mhz upgrade on Telstra network Qld
• Main project completed with ancillary works on going $\bullet$
• Personal Broadband Australia National -Wireless Broadband ۰ rollout (Turnkey)
• Recent launches of Adelaide and Perth services $\bullet$

Outlook

• Continued organic growth
• Ongoing vertical integration
• Broadening infrastructure roll-out capability
• Expanding into similar verticals
• Continue to seek out sensible acquisitions

Interim Results Presentation March 2007