FY21 First-Half Results Presentation

24 February 2021

Company Profile

Service Stream Limited (ASX:SSM) is a S&P/ASX200 company providing integrated end-to-end asset life-cycle services across essential infrastructure networks within the Telecommunications and Utilities sectors

TELECOMMUNICATIONS UTILITIES

Long-term, low-risk agreements

Network owners and operators, regulators and government organisations

Life-cycle infrastructure management

Property visits per annum

Strong workforce of employees and skilled contractors

Offices and warehouse nationally

Key Messages

A transitional year following revenue from nbn construction operations concluding and activations peaking in FY20, however the business continues to demonstrate strong fundamentals which position Service Stream well to achieve future growth

► Group's first half financial performance down on pcp, but in-line with expectations
► COVID effects continue to impact near-term earnings
► Business model demonstrates Group's solid fundamentals
► Successful period in re-securing major contractual agreements, supporting a strong core earnings base
► Diversification into utilities progressing well, moving from integration to growth phase in FY21
► Business holds a solid organic growth pipeline across key markets
► Working to secure both organic growth and assess M&A opportunities as a catalyst for step change in future growth
► The Group had expected a higher contribution during the second-half of FY21, however due to a combination of COVID impacts and delays to forecasted programs of work, now expects second-half results to be approximately in line with the first-half

FY21 H1 Group Highlights

Financial

Operational

First half EBITDA from Operations of $40.2m, in line with expectations

Strong cash flow generation, conversion of 108% and net cash position retained
Working capital remains highly efficient at 1.3% of revenue

Interim dividend of 2.5 cents per share (fully franked), maintaining historical payout ratio of ~60%

Re-secured all major telecommunications agreements over multi-year terms:
- nbn Unify Services and Networks (~$800m over 8 years)
- Telstra Field Operations (~$500m over 5 years, based on historical revenues)
Secured significant contract wins across utility operations including SEQ Water ~$55m and NSW Operations ~$40m
In excess of $1.5bn in long-term contracts secured during H1
Continued to deliver industry leading safety performance
Utility diversification progressively replacing step down in nbn construction and activation related revenues
Comdain on track to deliver ~15% revenue growth in FY21
Solid pipeline of work in hand and a growing organic pipeline of opportunities across core markets
Group continues to assess M&A opportunities to further support expanding into adjacent markets and diversifying future earnings
Group debt facilities refinanced for 3 years and upsized to $275m on improved commercial terms Strategic 4

COVID-19

Positive exposure to essential network infrastructure has supported the Group to navigate through the pandemic

Exposure to essential infrastructure networks has provided a solid revenue base and sustained resilience through the COVID-19 pandemic
The Group's balance sheet, cashflow and liquidity remain very strong
There have however been COVID-19 related effects which have negatively impacted near-term financial performance:
- delays to new client-initiated procurement programs across Telecommunications and Utilities divisions;
- shortages of client supplied materials;
- delays to mobilisation programs, caused by state border restrictions and 'snap' state lockdowns;
- continuing moratoriums on electricity and gas disconnections (and subsequent reconnections);
- deferral of some maintenance activities by asset owners to ensure networks remain available to consumers working from home; and
- increased costs to support specific safety-related protocols across business operations
The Victorian Stage 4 COVID-19 restrictions significantly reduced TechSafe's Victorian services:
- operations were yet to return to pre-Stage 4 levels at the end of December 2020; and
- JobKeeper assistance of $0.8m has been received in relation to this issue

Safety Performance

Maintaining our focus on the safety of our people, our customers and the community

Continued to deliver industry leading safety performance, demonstrating a strong safety culture throughout the organisation
On target to deliver further year-on-year improvements across TRIFR and MTIFR indicators
LTIFR continues to reflect extremely low occurrence rates
Management continue to target high-risk work activities, identifying opportunities to drive further improvements across work practices and the implementation of enhanced critical controls

Total Recordable Injury Frequency Rate

Medically Treated Injury Frequency Rate

FINANCIAL PERFORMANCE

Financial Headlines

Key Financial Measures

FY21 half-year results reflect the reduction in Telecommunications works and continued COVID-19 effects impacting near-term performance

$m	FY211st Half	FY201st Half	Change
Profitability:
Revenue	409.9	497.8	(17.7%)
EBITDA from Operations	40.2	58.1	(30.8%)
EBITDA from Operations %	9.8%	11.7%	(1.9%)
Adjusted EBIT (EBITA)	30.5	47.9	(36.3%)
Adjusted NPAT (NPATA)	20.1	32.3	(37.8%)
Adjusted EPS (cents)	4.92	7.96	(38.2%)

Statutory Profitability:

Reported EBITDA	39.1	56.4	(30.7%)
Reported EBIT	25.0	40.8	(38.6%)
Statutory NPAT	16.2	27.3	(40.5%)
Statutory EPS (cents)	3.97	6.73	(41.0%)

Group Revenue ($m)

Group EBITDA from Operations ($m)

Segment Results

Utilities segment growing in share of Group revenue and earnings as the business shifts from the integration program to driving growth

$m	FY211st Half	FY201st Half	Change (%)
Utilities	199.6	199.2	0.2%
Telecommunications	209.9	297.9	(29.5%)
Eliminations, interest & other revenue	0.3	0.7
Total Revenue	409.9	497.8	(17.7%)

Utilities	14.7	15.5	(5.2%)
Telecommunications	28.7	45.3	(36.6%)
Unallocated corporate costs	(3.2)	(2.7)
EBITDA from Operations	40.2	58.1	(30.8%)

One-off / non-operational items	(1.1)	(1.7)
Reported EBITDA	39.1	56.4	(30.7%)
Depreciation & amortisation	(4.5)	(5.7)
Depreciation -leases	(5.2)	(4.5)
EBITA	30.5	47.9	(36.3%)

Financing costs	(1.3)	(1.3)
Financing costs –leases	(0.5)	(0.5)
Income tax expense	(8.6)	(13.9)
NPATA	20.1	32.3	(37.8%)

Utilities: revenue in line with pcp

Comdain revenue of $154.8m, 5.1% growth vs pcp
Energy & Water metering and technical services revenue reduction of $7.1m, primarily due to COVID-19 restrictions

Telecommunications: revenue down by $88.0m vs pcp

OMMA activation and assurance revenue decrease of $42.5m following peak activations in FY20
nbn D&C program completed in FY20 (1H FY20 revenue $40.6m)

Cashflow & Capital Management

Solid operating cashflows and strong balance sheet, testament to favourable business fundamentals and will position the Group to support future growth

$m	FY211st Half	FY201st Half	Change

Reported EBITDA	39.1	56.4	(17.3)
+/-non-cash items & change in working capital	3.2	(23.6)	26.9
OCFBIT (1)	42.4	32.8	9.6
EBITDA to OCFBIT conversion %	108.3%	58.1%	50.2%
Net interest and financing paid	(2.8)	(2.0)	(0.8)
Tax paid	(19.3)	(20.6)	1.3
Operating cashflow	20.3	10.2	10.1
Capital expenditure (net of proceeds from sales)	(4.6)	(2.5)	(2.2)
Free cashflow	15.6	7.8	7.9
Dividends paid	(19.2)	(21.0)	1.8
Lease liability payments	(5.5)	(4.8)	(0.6)
Lease incentives received	-	4.2	(4.2)
Proceeds/(repayment) of borrowings	(20.0)	-	(20.0)
Purchase of shares	-	(0.7)	0.7
Decrease in cash	(29.0)	(14.7)	(14.3)

Net cash / (debt)	10.5	(4.0)	14.4

Cash flow and debt position:

Strong OCFBIT conversion rate of 108.3%
Working capital remains highly efficient at 1.3% of sales
Capex expenditure primarily relates to IT investments
December-20 net cash position of $10.5m

Refinancing of debt facilities

Debt facilities refinanced for 3-year term to November 2023 and increased to $275m to support future growth opportunities
Refinance well supported with expanded lending syndicate of 5 commercial banks, and the offer oversubscribed
Improved commercial terms and covenants
The new SFA provides the platform and flexibility to further increase debt over time to support new growth opportunities

1 Operating cashflow before interest & tax

DIVISIONAL HIGHLIGHTS

Utilities

Utility network engineering, design & construction, maintenance and operations

Focus over the first half has been on building momentum to support revenue growth, mobilisation of new contracts, and implementation of Group ERP (IFS) into Comdain
Revenue for 1H FY21 was $0.5m (+0.2%) on pcp:
- Comdain Infrastructure revenue of $154.8m up 5.1% on pcp. Mobilisation of select projects has been impacted by COVID-19 restrictions, particularly in relation to staff movement across borders
- Metering Services, New Energy & Inspection Services revenue down $7.1m vs pcp, largely due to COVID-19 restrictions and delays
COVID-19 continuing to impact on metering services due to the moratorium on energy disconnections (and subsequent reconnections), and TechSafe operations due to the Victorian Stage 4 restrictions
The pipeline of new gas and water utility project opportunities is robust and growing, supported by growing urban development and upgrade/replacement of aging infrastructure
- Comdain revenue profile ramping up with new project awards and is on track to deliver ~15% revenue growth in FY21
- Significant new SEQ Water Southwest Pipeline contract of ~$55m enhances the recent expansion into QLD

Telecommunications

Telecommunication network engineering, design & construction, maintenance and operations

Revenue for 1H FY21 was $209.9m, $88.0m below pcp, due to the conclusion of nbn D&C program in FY20 and reduction in activation volumes (as expected)
- Activation and assurance revenue of $134.5m was better than expected, with favourable work mix and additional upgrade programs offsetting the reduction in available activation volumes
- Wireless revenue of $33.3m, down $3.6m from pcp and continues to track below expectations with slow ramp up of 5G expenditure
The business has successfully renewed all 3 of its major telecommunications contracts, providing future earnings sustainability:
- nbn Unify Networks and Unify Services, each for a maximum term of 8 years (including options)
- Telstra Field Services, covering fixed line and wireless services, for a maximum term of 5 years (including options)
- These contracts provide the foundation to pursue and grow other Telecommunications revenue
Group currently working to secure additional telco works to support future growth
- nbn's $4.5bn network upgrade program
- Broader mobile infrastructure customer base

14

GROUP STRATEGY & OUTLOOK

Group Strategy

Diversification strategy into the broader Utility market has bolstered the Group's core earnings base, with the business working to replace revenues from historical nbn peak earnings across a more diversified revenue base to support sustainable long-term growth

Telecommunications works associated with nbn's construction program has accounted for a large portion of the Group's historical growth
Whilst Telco operations will continue to present future opportunities, one-off construction work programs and activation works peaked in FY20
Wireless works and nbn's fixed-line infrastructure upgrade present as immediate opportunities
Acquisition of Comdain 2 years ago was the first major step in preparing for the change, with the business progressing well and on track to deliver 15% revenue growth during FY21.
Business is actively exploring further diversification opportunities which will support replacement of Telco earnings, and step change in growth
Group business model and fundamentals are robust, sustainable over the longterm, and provide platform to leverage future growth:
- Strong balance sheet
Non intensive capital operations
Above-average profitability
Strong cash generation & conversion
Blue-chip industrial client base
Operate across stable, regulated infrastructure markets

CURRENT STATE GROUP FOCUS & PRIORITIES

Group Outlook

Service Stream expects continued demand for its services associated with the maintenance of critical infrastructure across the Utility and Telecommunication markets, however near-term performance has been impacted

The outlook for FY21 has been progressively impacted by the prolonged COVID setting which continues to subdue near-term earnings, coupled with client-initiated work reductions and delays in commencing new programs of work.
The Group now expects the current trading conditions and COVID-19 impacts to continue into H2, with results approximately in-line with H1, due to:
- Delays and inefficiencies in the mobilisation of new works, particularly due to COVID response by individual States and Territories
- Client delays to procurement programs and shortages of client supplied materials
- Unfavorable timing of recently secured telecommunication programs relative to expectations
Business fundamentals however remain strong with regards to profitability, balance sheet, quality of earnings, non capital intensive operations and bluechip client base
Business holds a solid and growing organic growth pipeline across key markets

FY21 OUTLOOK FY21 H2 PRIORITIES

Maintain flexible resourcing model to respond to growth opportunities, whilst managing a proportionate Group cost base
Progress the mobilisation and expansion of work programs already secured throughout the year
Securing additional work programs associated with recently announced $4.5bn telco network upgrade program to support Telco growth in FY22 and FY23
Continue to secure organic growth opportunities across current utility and telco markets from strong pipeline
Continue the assessment of external market opportunities to support future growth which expand addressable markets and enhance diversification

HISTORICAL FINANCIAL PERFORMANCE DATA

PROFIT & LOSS
$ million	1H17	2H17	1H18	2H18	1H19	2H19	1H20	2H20	1H21
Utilities 1	$48.6	$46.0	$54.7	$52.1	$51.3	$213.0	$199.2	$184.9	$199.6
Telecommunications 1	$194.6	$217.8	$244.4	$290.7	$298.1	$291.3	$297.9	$246.3	$209.9
Interest Income	$0.3	$0.3	$0.4	$0.5	$0.6	$0.1	$0.1	$0.0	$0.0
Other & Eliminations	($2.7)	($3.2)	($5.4)	($4.5)	($2.1)	($0.1)	$0.6	$0.2	$0.3
Total Revenue	$240.8	$261.0	$294.1	$338.8	$348.0	$504.2	$497.8	$431.4	$409.9
Utilities 1	$3.2	$4.4	$5.4	$5.1	$5.4	$17.1	$15.5	$15.4	$14.7
Telecommunications 1	$20.1	$26.6	$29.7	$32.7	$35.9	$41.2	$45.3	$37.8	$28.7
Unallocated Corporate Services	($2.2)	($3.2)	($3.0)	($3.5)	($2.7)	($3.6)	($2.7)	($3.1)	($3.2)
EBITDA from Operations	$21.1	$27.8	$32.1	$34.2	$38.6	$54.6	$58.1	$50.0	$40.2
EBITDA from Operations %	8.8%	10.6%	10.9%	10.1%	11.1%	10.8%	11.7%	11.6%	9.8%
Non-Operational Items	$0.0	($0.5)	$0.0	$1.0	($0.6)	($3.1)	($1.7)	($0.9)	($1.1)
Reported EBITDA	$21.1	$27.3	$32.1	$35.2	$38.0	$51.5	$56.4	$49.2	$39.1
Depreciation & Amortisation	($2.5)	($4.6)	($2.7)	($4.8)	($3.0)	($5.8)	($5.7)	($5.5)	($4.5)
Depreciation - Leases 2	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	($4.5)	($5.0)	($5.2)
Amort of customer contracts - TechSafe	$0.0	($0.5)	($1.0)	($1.0)	($0.9)	($0.9)	($0.7)	($0.7)	($0.4)
Amort of customer contracts - Comdain	$0.0	$0.0	$0.0	$0.0	$0.0	($5.7)	($4.8)	($4.8)	($4.0)
Reported EBIT	$18.6	$22.2	$28.4	$29.5	$34.1	$39.2	$40.8	$33.1	$25.0
Net financing costs	$0.0	($0.2)	$0.2	$0.2	$0.4	($1.6)	($1.3)	($1.2)	($1.3)
Net financing costs - Leases 2	$0.0	$0.0	$0.0	$0.0	$0.0	($0.0)	($0.5)	($0.5)	($0.5)
Income tax expense	($5.6)	($6.7)	($8.6)	($8.5)	($10.4)	($11.9)	($11.7)	($9.4)	($7.0)
Statutory NPAT	$13.0	$15.3	$19.9	$21.2	$24.1	$25.8	$27.3	$22.0	$16.2
Effective Tax Rate	30.1%	30.5%	30.3%	28.7%	30.2%	31.5%	30.0%	30.0%	30.0%
Adjusted EBIT (EBITA)	$18.6	$23.2	$29.3	$29.4	$35.6	$48.9	$47.9	$39.5	$30.5
EBITA %	7.7%	8.9%	10.0%	8.7%	10.2%	9.7%	9.6%	9.2%	7.4%
Adjusted NPAT (NPATA)	$13.0	$16.0	$20.6	$20.9	$25.1	$32.5	$32.3	$26.5	$20.1
NPATA %	5.4%	6.1%	7.0%	6.2%	7.2%	6.5%	6.5%	6.1%	4.9%
1

Customer Care in Utilities up to 30-6-18 and in Telecommunications from 1-7-18

2 Arising from the adoption of AASB 16 Leases

RECONCILIATION OF STATUTORY TO ADJUSTED PROFITABILITY MEASURES




























Dividend payout ratio (based on Adjusted EPS)	41.9%	68.4%	53.2%	78.2%	50.2%	67.9%	50.2%	76.9%	50.9%

SEGMENT RESULTS
$ million	1H17	2H17	1H18	2H18	1H19	2H19	1H20	2H20	1H21
UTILITIES
Metering and Technical Services 1	$48.6	$46.0	$54.7	$52.1	$51.3	$52.7	$51.9	$44.1	$44.8
Comdain	$0.0	$0.0	$0.0	$0.0	$0.0	$160.2	$147.3	$140.8	$154.8
Segment Revenue	$48.6	$46.0	$54.7	$52.1	$51.3	$213.0	$199.2	$184.9	$199.6
Segment EBITDA	$3.2	$4.4	$5.4	$5.1	$5.4	$17.1	$15.5	$15.4	$14.7
EBITDA %	6.7%	9.5%	9.8%	9.8%	10.6%	8.0%	7.8%	8.3%	7.4%


TELECOMMUNICATIONS	1H17	2H17	1H18	2H18	1H19	2H19	1H20	2H20	1H21
nbn Activation & Assurance	$66.8	$79.5	$109.9	$108.1	$124.4	$151.7	$176.9	$156.7	$134.5
nbn Minor Projects	$6.8	$6.6	$12.5	$22.4	$24.8	$34.8	$29.0	$41.5	$31.5
nbn MIMA & DCMA	$13.2	$28.0	$45.7	$60.0	$70.1	$57.6	$40.6	($2.0)	$0.0
nbn New DevelopmentsOther Fixed Line customers 1	$21.0$27.4	$13.1$28.5	$0.5$23.3	$0.1$25.1	$0.0$20.5	$0.0$18.0	$0.0$14.5	$0.0$13.9	$0.0$11.1
Fixed Line	$135.1	$155.7	$191.9	$215.7	$239.7	$262.1	$261.0	$210.1	$177.1
Wireless	$58.8	$61.7	$52.5	$75.0	$58.3	$29.2	$36.9	$36.2	$33.3
Other & Eliminations	$0.7	$0.4	$0.0	$0.0	$0.0	$0.0	$0.0	($0.0)	($0.4)
Segment Revenue	$194.6	$217.8	$244.4	$290.7	$298.1	$291.3	$297.9	$246.3	$209.9

1 Customer Care in Utilities up to 30-6-18 and in Telecommunications from 1-7-18

CASH FLOW
$ million	1H17	2H17	1H18	2H18	1H19	2H19	1H20	2H20	1H21
Reported EBITDA	$21.1	$27.3	$32.1	$35.2	$38.0	$51.5	$56.4	$49.2	$39.1
+/- non-cash items & change in w/capital	$3.2	$5.3	$25.0	$7.6	($11.6)	$1.8	($23.7)	$4.5	$3.2
OCFBIT	$24.3	$32.5	$57.1	$42.8	$26.4	$53.3	$32.8	$53.7	$42.4
EBITDA to OCFBIT conversion ratio	115%	119%	178%	121%	69%	103%	58%	108%	108%
Net tax paid	($6.8)	$0.7	($14.6)	($6.0)	($8.6)	($10.2)	($20.6)	($4.6)	($19.3)
Net interest & financing costs paid	($0.1)	$0.1	$0.2	$0.2	$0.0	($1.4)	($2.0)	($1.6)	($2.8)
Operating cashflow	$17.4	$33.3	$42.6	$37.1	$17.9	$41.7	$10.2	$47.5	$20.3
Capital expenditure	($5.1)	($3.7)	($3.5)	($4.3)	($5.3)	($4.6)	($3.5)	($4.3)	($5.1)
Proceeds from the sale of assets	$0.1	$0.1	$0.2	$0.0	$0.1	$0.3	$1.1	$0.2	$0.5
Business acquisitions	$0.0	($17.1)	($0.7)	$0.0	$0.0	($82.8)	$0.0	$0.0	$0.0
Free cashflow	$12.4	$12.5	$38.7	$32.8	$12.7	($45.3)	$7.8	$43.4	$15.6
Dividends paid	($5.5)	($5.5)	($10.9)	($10.8)	($16.2)	($13.6)	($21.0)	($15.3)	($19.2)
Purchase of shares	($3.9)	($0.1)	($14.0)	($4.5)	$0.0	$0.0	($0.7)	$0.0	$0.0
Share issue costs	$0.0	$0.0	$0.0	$0.0	$0.0	($0.1)	$0.0	$0.0	$0.0
Share Buy-back	$0.0	$0.0	$0.0	($8.0)	$0.0	$0.0	$0.0	$0.0	$0.0
Principal elements of lease payments	$0.0	($0.2)	($0.2)	($0.1)	($0.2)	($0.2)	($4.8)	($4.8)	($5.5)
Lease incentives received	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$4.2	$0.0	$0.0
Proceeds / (Repayment) of borrowings	$0.0	$0.0	$0.0	$0.0	$0.0	$60.0	$0.0	$0.0	($20.0)
Increase / (Decrease) in Cash	$3.0	$6.8	$13.5	$9.3	($3.7)	$0.8	($14.7)	$23.3	($29.0)

NET CASH / (DEBT)
$ million	Dec-16	Jun-17	Dec-17	Jun-18	Dec-18	Jun-19	Dec-19	Jun-20	Dec-20
Cash and cash equivalents	$44.1	$50.9	$64.4	$73.7	$70.0	$70.8	$56.1	$79.5	$50.5
Borrowings	$0.0	$0.0	$0.0	$0.0	$0.0	($60.0)	($60.0)	($60.0)	($40.0)
Lease liabilities 1	$0.0	($1.0)	($0.8)	($0.7)	($0.5)	($0.3)	($0.1)	$0.0	$0.0
	$44.1	$49.9	$63.6	$73.0	$69.5	$10.5	($4.0)	$19.5	$10.5

1 Excluding lease liabilities arising from the application of AASB 16.

22

									1H21
$ million	1H17	2H17	1H18	2H18	1H19	2H19	1H20	2H20
Leasehold Improvements	$0.2	$0.1	$0.1	$0.2	$0.4	$0.1	$0.2	$0.2	$0.0
Motor Vehicles	$0.1	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.3	$0.0
Plant & Equipment (non-IT)	$0.1	$1.0	$0.3	$0.3	$0.4	$1.6	$0.7	$0.1	$1.4
Capital Expenditure (non-IT)	$0.4	$1.1	$0.4	$0.5	$0.9	$1.8	$0.9	$0.6	$1.4
Plant & Equipment (IT-related)	$0.4	$0.3	$0.2	$0.4	$0.3	$0.7	$0.3	$0.5	$0.4
ERP Replacement	$3.3	$1.9	$1.8	$1.6	$3.4	$0.5	$0.4	$1.5	$1.3
Other Software Applications	$1.0	$0.4	$1.1	$1.6	$0.7	$1.6	$1.9	$1.8	$2.0
Capital Expenditure (IT-related)	$4.7	$2.7	$3.1	$3.7	$4.4	$2.8	$2.7	$3.7	$3.7
Total Capital Expenditure	$5.1	$3.7	$3.5	$4.3	$5.3	$4.6	$3.6	$4.3	$5.1
ERP Replacement	$3.3	$1.9	$1.8	$1.6	$3.4	$0.5	$0.4	$1.5	$1.3
All Other	$1.8	$1.8	$1.7	$2.6	$1.8	$4.1	$3.1	$2.8	$3.8
Total Capital Expenditure	$5.1	$3.7	$3.5	$4.3	$5.3	$4.6	$3.6	$4.3	$5.1

Disclaimer

Important information for Investors

This presentation has been prepared by Service Stream Limited (SSM).

Whilst the information in this presentation has been prepared in good faith and with reasonable care, no representation or warranty, express or implied, is made as to the accuracy or reliability of any statements, estimates, opinions or other information contained in this presentation.

To the extent this presentation contains forward looking statements, those forward looking statements have been made based upon SSM's expectations and beliefs concerning future developments and their potential effect upon SSM and are subject to risks and uncertainty which are, in many instances, beyond SSM's control. No assurance is given that future developments will be in accordance with SSM's expectations. Actual results could differ materially from those expected by SSM.

The information contained in this presentation is not intended to be relied upon as advice to investors or potential investors, who should consider seeking independent professional advice depending upon their specific investment objectives, financial situation or particular needs.

In this presentation, unless otherwise stated or the context otherwise requires, references to 'dollar amounts' or '$' are to Australian dollars.

SERVICE STREAM LIMITED

ABN: 46 072 369 870

Level 4, 357 Collins Street, Melbourne VIC 3000

www.servicestream.com.au

AI assistant

SERVICE STREAM LIMITED Investor Presentation 2021

65865_rns_2021-02-23_eed32095-56df-47a3-b4d5-92abcd6eff52.pdf

FY21 First-Half Results Presentation

Company Profile

TELECOMMUNICATIONS UTILITIES

Key Messages