SSH GROUP LTD — Capital/Financing Update 2023

Jul 24, 2023

Tru Fleet Update - 12 Months Post Launch Date: 25[th] July 2023

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SSH Group Ltd ACN 140 110 130

Level 2/10 Ord St West Perth, WA 6005

Tru Fleet Delivers 121% EBITDA Return on Capital Contribution

Highlights

SSH Group Ltd organically launched “Tru Fleet”, its site ready fleet hire business, in July 2022. During its first 12-month period since launch, Tru Fleet contributed positively to SSH Group’s performance with:

Strong EBITDA*

• EBITDA of $1.57m which equates to a 121% return on the capital contribution from SSH Group Ltd over the 12-month period since Market Launch.

• Strong EBITDA of 57.6% over the 12-month period

Rapid EBIT Growth in 2H of FY23 (EBIT)

• During the January 23 – June 23 Half Year, Tru Fleet delivered an EBIT of 23.15% to revenue.

• Resulting in an impressive 240% increase in EBIT from 1H23 to 2H23.

Tru Fleet Asset Value

• $12.8m in Company Fleet Assets as of 30 June 2023.

• 236% Fleet Asset Value Growth from 30 June 22 – 30 June 23.

Operational Highlights:

• A New Operating Facility Established in the Pilbara.

• Cars deployed in WA, NSW, and QLD.

• Fleet diversified into the Light Truck Market to service customer requirements.

* All financial results noted above are taken from unaudited management accounts from 1 July 2022 to 30 June 2023.

ASX: SSH

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www.sshgroup.com.au

Tru Fleet Update - 12 Months Post Launch Date: 25[th] July 2023

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Market Update

SSH Group Ltd. (ASX:SSH) ( Company or SSH ) is pleased to provide the market with an update on the strong trading performance of its Site Ready Fleet Hire business Tru Fleet, 12 months post Launch.

Financial Highlights:

al Highlights:
DESCRIPTION	1 JUL22 – 31 DEC22	1 JAN23 – 30 JUN23	IMPROVEMENT ONPRIOR
			HALFYEAR
EBITDA %	43.22%	64.96%	50%
EBIT %	(6.82%)	23.15%	240%

Tru Fleet is a dedicated fleet-vehicle hire business that has been launched to meet significant identified demand within the Western Australian vehicle and transport equipment rental market. Tru Fleet is positioned strongly to specialise in quality mine-specification and civil-specification light-vehicle hire across the Australian resource, civil and construction markets.

Tru Fleet impressively absorbed the initial start-up costs of the business over the first half of the financial year (1H23) as it ramped up its services and offerings, to see a significant improvement in second half (2H23) financials, which the company expects to continue into FY24.

Having established Tru Fleet as a new business, it has grown organically with the dedication and hard work of our teams and has resulted in a significant improvement in 2H23 financials, resulting in significant 2H23 EBITDA increase of 50% and an impressive EBIT improvement of 240% vs 1H23.

This EBITDA yields a return of 121% on the capital contributed by SSH Group Ltd over the period since launch, whilst the EBITDA generated by Tru Fleet assets is 57.6% for the 12 months.

With Tru Fleet now servicing clients in Western Australia, New South Wales and Queensland, company fleet assets (as of 30 June 2023) have grown to $12.8m, representing a 236% increase in fleet value since launching. Strong customer demand has led to Tru Fleet expanding into the Light Truck Market which has proven to be a growing product offering across our client base.

ASX: SSH www.sshgroup.com.au

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Tru Fleet Update - 12 Months Post Launch Date: 25[th] July 2023

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Authorisation

This release has been authorised in accordance with the Company’s published continuous disclosure policy and approved for release by the Board of SSH Group Ltd.

About SSH Group

SSH Group Ltd manages a portfolio of complementary businesses working with the Australian construction, resources, and energy market sectors.

SSH Group Ltd builds and acquires quality businesses within growth markets that demonstrate scalability and the strong potential for high return on investment. Through our businesses, SSH Group Ltd is committed to improving outcomes for Australian projects and communities.

Disclaimer: Caution Regarding Forward Looking Statements

This announcement may contain forward looking statements which involve a number of risks and uncertainties. Forward-looking statements are expressed in good faith and are believed to have a reasonable basis. These statements reflect current expectations, intentions or strategies regarding the future and assumptions based on currently available information.

Should one or more risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this announcement. The forward- looking statements are made as at the date of this announcement and the Company disclaims any intent or obligation to update publicly such forward looking statements, whether as the result of new information, future events or results, or otherwise.

Further Details

ASX Market Data

www2.asx.com.au/markets/company/ssh Investor Portal www.sshgroup.com.au/investors-media

Telephone Post Registered Office Company Secretary SSH Group Ltd SSH Group Ltd +61 8 1300 748 373 PO Box 189 9:00am - 5:00pm (WST) WELSHPOOL DC 6986 Monday to Friday

ASX: SSH www.sshgroup.com.au

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