SSH GROUP LTD — AGM Information 2023

Nov 22, 2023

SSH Group Ltd | 23 November 2023

GENERAL MEETING 2023 ANNUAL

INTRODUCING SSH GROUP

We are an industrial company that has a portfolio of businesses, focused on service delivery to industries reliant on outsourced resourcing.

We build, acquire, and invest in quality businesses that are scalable and demonstrate a strong potential for high return on investment.

Who we are What we do Our purpose

To improve outcomes for Australian projects and communities.

OUR BUSINESSES

BUSINESS UPDATE 2023 ANNUAL GENERAL MEETING

OUR PROFILE

4	Operating Subsidiaries 100% Ownedby SSH Group Ltd.
1	Investment Partnership with 49%Shareholding.
300+	Primary Hire Assets across theGroup.
100+	Secondary Hire Assets across theGroup.
360+	Clients Serviced in FY23 period.
415+	Workforce engaged over the FY23period.

PERFORMANCE ACTIVITY

Successfully decentralised our group of companies to build independent brand recognition in the marketplace.

Attracted top industry talent and expertise to drive growth under highly capable stewardship & leadership.

Strong customer uptake to our cross selling of services to industry.

Focus on higher margin sectors produced a significant financial improvement.

Efficiency creation & asset utilisation stayed as a key metric to deliver positive outcomes for the group.

FY23 FINANCAL PERFORMANCE

A pivotal year as the group proactively broadened its service offerings and transitioned to higher margin markets.

Operating Cashflow

$$2.8m$ $*$ +$3.6m vs -$0.7m FY22

EBITDA Cash Conversion*

FY23

Cash on Hand

• Increase in gross margin and EBITDA driven by the introduction of equipment hire services

• Repositioned recruitment and workforce management for operational efficencies and growth
• Strong positive operating cash flow

*Calculated as operating cashflow over EBITDA

FY24 JUL 23 – OCT 23 UNAUDITED

Oct 23 cumulative 12 months EBITDA Oct 23 EBITDA vs Oct 22

TRI MONTHLY	EBITDA
Nov 22 –Jan 23	$621,770
Feb 23 –Apr 23	$1,006,217
May 23 –Jul 23	$1,657.458
Aug 23 –Oct 23	$1,408,332
12 –month total	$4,693,777

EBITDA / Revenue % Increase

FY23
Revenue	$411,153,039
EBITDA	$3,343,639
EBITDA / Rev %	8%
FY24 YTD (July –Oct)
Revenue	$11,513,756
EBITDA	$1,852,474
EBITDA / Rev %	16%

Continued Margin Improvement

FY23 Workforce	415 +
FEMALE REPRESENTATIONCORPORATE & MANAGEMENT	50%
INDIGENOUS REPRESENTATIONCORPORATE & MANAGEMENT	5%

SOCIAL RESPONSIBILITY

SSH Group is committed to social responsibility, recognising the significance of our role in supporting the communities in which we operate.

We actively contribute to not-for-profit organisations, local communities, and initiatives aimed at helping others.

As an organisation we strive to make a positive impact beyond business.

And many more…

INDIGENOUS ENGAGEMENT

Improved cultural maturity since partnership formation.

Increased first nation expenditure through supply chain.

First Indigenous executive appointed to partnership.

Increased traditional owners engaged to deliver works in partnership.

CORPORATE SNAPSHOT

AND BOARD LEADERSHIP

Bruce Lane Non – Executive Chairman

BCom, MSc (LBS Sloan Fellow), GAICD 25+ years' experience

Bruce has held leadership roles with a number of ASX-listed companies and significant blue-chip companies in Europe and Australasia.

Daniel Cowley – Cooper Chief Executive Officer & Managing Director

Founder of Site Services Holdings Group of entities 15+ years' experience

Daniel has held senior leadership roles in several Australian businesses, successfully launching new brands and guiding businesses through growth and expansion phases.

Stefan Finney Chief Operating Officer and Executive Director

Executive of Site Services Holdings Group of entities 15+ years' experience

Stefan has been responsible for successfully guiding the development of emerging businesses, and stabilising and expanding operations in large established companies.

OUR STRATEGY 2023 ANNUAL GENERAL MEETING

3. Current services $1.8b aligned with 20.9% of market. Australia Industry (ANZSIC) Report 7712/Public Administration and Safety - Investigation and Security Services in Australia - April 2022

1. Current services aligned with 14% of market. Australia Industry (ANZSIC) Report N/212/Administrative and Support Services - Temporary Staff Services in Australia - March 2022

ADDRESSABLE MARKET

Recruitment & Workforce Management1

Safety & Security2

' GROUP

Operational Focus Areas

• Maximise cross selling opportunities
• Increase customer retention and engagement
• Industry experienced leadership driving growth
  • Increase operational excellence
  • Continuous improvement on workplace safety and risk management
    • Ongoing cost efficiency reviews
      • Leverage asset utilisation

Financial Focus Areas

• Increase free cash flow from operations
• Strengthen capital and financial management discipline

GROUP

• Continue to improve gross margin and cost effectiveness
  • Reduce net debt to EBITDA

OUR STRATEGY

Leverage our Divisional Strengths

• Customers with long term recurring work
• Limited exposure to Lump Sum contract risk
• Pricing models with annual rise and fall mechanism

Organic Growth

• Increased asset utilisation
• Geographical expansion
• Increased service offerings
• Increased penetration of services per customer

Acquisition Growth

• · Scalable targets
• Strong management and leadership
• Synergies with the portfolio of the Group
• Defendable market share
• Growth markets

Our Strategic Horizons

Horizon 2 $(years 3-4)$

Horizon1 $(years 1-2)$

FY23

• Maximise cross selling opportunities

• Strengthen balance sheet

• Consolidate growth in gross margin and achieve positive free cashflow

• Continue to explore M&A opportunities

• Geographical and service line expansion

• Geographical and service line expansion

• Value accretive M&A opportunities

• Target Group EBITDA Margin of 15%

• Entered equipment hire industries

• Moved into higher margin services

• Restructured the Group for improved efficency and ready for growth.

APPENDICES 2023 ANNUAL GENERAL MEETING

Divisional Highlights | Recruitment & Workforce Management

Core Services and Focus Markets

• Resourcing
• Recruitment

• Construction, Resources, Security

• Workforce management

FY23 in Review

• Rebranded as Bridge Resources.
• Restructured to incorporate SSH Group Safety.
• Engaged senior industry experienced leadership to drive future growth.

Outlook

• Significant growth underpinned by the strong pipeline of projects in the construction, resource, and energy markets.
• Core focus to drive operational excellence to continue building strong customer engagement.

MULTIPLEX

Divisional Highlights | Machinery Hire

Core Services and Focus Markets

• Earthmoving equipment and machinery hire $\bullet$
• Construction in Infrastructure, Civil and Rail, and Resources

FY23 in Review

• Successfully integrated KMH into the SSH Group. $\bullet$
• Implemented asset data analysis across the fleet of hire assets, to enable data-driven decision-making, and improved hire asset performance.
• Rebranded and modernised KMH's identity and enhanced the brand's awareness and $\bullet$ recognition in the target markets.
• The Machinery Hire Division delivered a strong EBITDA result, which was effectively a $\bullet$ 20.7% first year return on the acquisition investment.

Outlook

• Focus on larger and longer term hire clients.
• Focus on increased asset utilisation and operational efficiencies via longer-term hires. $\bullet$
• A continuing emphasis on delivering improved free cash flow.

MINERALRESOURCES

Divisional Highlights | Fleet Hire

Core Services and Focus Markets

• Site ready light vehicle and truck hire
• Construction in Infrastructure, Civil and Rail, and Resources

FY23 in Review

• Launched Tru Fleet as an internal SSH Group business startup.
• Deployed fleet assets to Western Australia, New South Wales, and Queensland. $\bullet$
• · First year EBITDA provides 121% return on capital invested.
• Introduced light trucks into the range of fleet assets.

Outlook

• Continue to increase asset utilisation through long term contract hire.
• Focus in FY24 is to improve the Division's debt-to-equity position and free cash flow.

MINERALRESOURCES

MULTIPLEX

V/HITTENS

Divisional Highlights | Indigenous Partnership

FY23 in Review

• Four Hills Services partnership established to fuse the strengths and expertise of both entities.
• Achieved Supply Nation certification—an endorsement of the Group's dedication to collaborating with Indigenous businesses.
• Partnership generated SSH revenue in its first four months, which has supported SSH's growth in FY23.

Outlook

• Targeting growth firmly rooted by the strong demand of Four Hills specialised services.
• Self-sustaining partnership
• Growth opportunities exist through the evolution of existing service lines and the potential of new service offerings.

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Disclaimer

FUTURE PERFORMANCE

Past performance information in this presentation is for illustrative purposes only and should not be relied upon as, and is not an indication of future performance. This presentation may include 'forward-looking statements'. Such statements are not guarantees of future performance and involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied in such statements. Actual results, performance, or achievements may vary materially from any projections and forward looking statements, or the assumptions on which those statements are based.

NO WARRANTY IMPLIED

No representation or warranty, express or implied is made as to the fairness, accuracy, completeness, or correctness of the information, opinions, and conclusions contained in this presentation. SSH Group assumes no obligation to update any person regarding any inaccuracy, omission, or change in this presentation. To the maximum extent permitted by law, none of SSH Group, their respective related bodies corporates, shareholders, directors, officers, employees, agents, or advisors, nor any other person accepts any liability, including, without limitation, any liability for any loss arising from the use of information contained in this presentation.

SUMMARY INFORMATION

This presentation has been prepared by SSH Group Ltd to provide summary information about SSH Group. The information contained in this presentation is not investment or financial product advice and is not intended to be used as the basis for making an investment decision. This presentation is in summary form, is of a general background nature, and does not purport to be complete. This presentation should be read in conjunction with the FY23 Annual Report, together with any announcements made by SSH Group Ltd in accordance with its continuous disclosure obligations arising under the Corporations Act 2001 and ASX Listing Rules.

ONGOING ACCURACY

SSH Group is not obliged to, and does not represent that it will update the presentation for future developments. References in this report to a 'year' are to the financial year ended 30 June 2023 (previous corresponding period 30 June 2022) unless otherwise stated. Totals may not add up precisely due to immaterial rounding. All currency figures are in Australian dollars unless otherwise stated. This presentation is not, and does not constitute an offer to sell, or the solicitation, invitation, or recommendation to purchase any securities. Neither this presentation nor anything contained in it forms the basis of any contract or commitment.

THANK YOU

investors@sshgroup.com.au

0492 867 656

SSH Group Ltd PO Box 189 WELSHPOOL DC 6986

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