STEALTH GROUP HOLDINGS LTD — Interim / Quarterly Report 2021

Feb 24, 2021

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We are a leading Australian based multinational distributor of industrial, safety & workplace products serving various markets across our diversified business portfolio in Australia, United Kingdom, Asia and Africa.

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HALF YEAR 2021 Briefing Presentation

25 FEBRUARY 2021 ASX Code : SGI

Business Model

An Australian based multinational distribution group

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Group Overview

Diversified business portfolio of Products, Customers, Suppliers, Industries served, a strong supply chain, all supporting reoccurring sales activity.

• › A broad range distributor of industrial, safety and workplace products and provider of supply chain solutions to more than 4,000 business customers and 34,000 retail customers across a variety of industry sectors.

• › We are a one-stop-shop underpinned by an expansive product range, sales specialists, physical store network, fulfillment services, distribution centres, ecommerce channels and strong marketing, content and advertising programs.

• › Customers place orders online, on mobile devices, through sales representatives, account managers, over the phone, by email, at our physical store network, by our e- business portal, Onsite, instore and through vending solutions.

• › Headquartered in Perth, Western Australia, we operate in Australia and Internationally under five competitive brands, Heatleys Safety & Industrial, C&L Tool Centre, Industrial Supply Group, Australian Workplace Supplies and BSA Brands (UK).

• › We supply more than 300,000 products sourced from some 1,500 suppliers. Over 40,000-line items are stocked in our distribution centres and across our store network. Stock availability with certainty of supply is essential to meet customer demand.

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SGI HY2021 Briefing Presentation

Corporate Overview

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CORPORATE SNAPSHOT

SGI SHARE OWNERSHIP

SGI BOARD MEMBERS

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Chris Wharton AM
Chairman &
ASX Code SGI Ownership base with significant Non-Executive Director
investment by Board and Management
Market Cap @ 23 February 2021 $10.0m
Mike Arnold
Group Managing Director
10.0 cents
Share Price @ 23 February 2021 & CEO
High Net
Net Debt (inc C&L $2.45m) @ 31 December 2020 $3.4m Worths
16%
Retail 29%
John Groppoli
$5.0m
Available working capital facilities @ 31 January 2021 Non-Executive Director
Net Assets @ 31 December 2020 $13.4m Institutional investors High Net Worths
11%
32%
Board &
$13.4m Alan Cransberg
Enterprise Value @ 31 December 2020 Management
23% Non-Executive Director
$2.1m
Underlying EBITDA @ 31 December 2020
Trading multiple - EV/Underlying EBITDA 6.4 x 23 February 2021
Karen Logan
Company Secretary
Shares on issue 23 February 2021 99.7m
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Well balanced experienced team, established to support high growth plans

SGI HY2021 Briefing Presentation

Key Highlights - Half Year 2021 Delivered Earnings Uplift on 1H 2020, and also 2H 2020

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Our progress has not just been incremental – we delivered material impact from organic & strategic events

Regained positive sales and earnings momentum - Strong balance sheet maintained, providing stability and growth funding capacity

Improved financial performance

• § Sales of $30.4 million, down $9.3 million ($8.2 million Africa) or 23% on 1H 2020, but up 7.0% on 2H 2020, with a particularly stronger 4Q (October - December).

• § Change in Africa strategy in December 2019 to refocus on more profitable customers.

• § Record Underlying EBITDA of $2.1 million up 20% on 1H 2020, and up 46% on 2H 2020.

Continued to invest in building an enlarged business, enhancing our diversified portfolio

Increased scale from major investments

• § Investing heavily to configure our business to meet the evolving needs of our customers – Online and Offline.

• § Launched Online eCommerce e-Store channel Bisley Workwear UK.

• § Completed $3.83 million acquisition in December 2020 of Queensland market leading distributor C&L Tool Centre (C&L).

Adds $14.3m to Group annual sales and $1.3m to EBITDA on a proforma basis (FY20 earnings).

Acquisition of C&L Tool Centre

• § New C&L Brisbane location expected to positively impact on customer expansion.

• § New geography, more customers, more range of products & services, market leader.

• § C&L will contribute sales & profit in the full 2H 2021 period.

SGI HY2021 Briefing Presentation

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HY21 Revenue, Underlying EBITDA and Sales Spread

REVENUE JOURNEY $m

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90.0
80.0 1H-21 Sales down $9.3m compared to 1H-20 as expected
where $8.2m is Africa after change in Africa strategy in
70.0
December 2019 to refocus on more profitable customers.
60.0
50.0
39.7
40.0
28.4 30.4
30.0
20.0 12.5
10.0
0.0
2H-19 1H-20 2H-20 1H-21
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UNDERLYING EBITDA JOURNEY $m

PRODUCT SALES MIX OF TOTAL SALES

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1%
2%
1%
3% [3%] 3%
INDUSTRIAL 5%
PPE / SAFETY 5%
WORKWEAR
7%
MATERIALS HANDLING
FOOTWEAR
PACKAGING AND TAPES 33%
12%
HYGIENE, CLEANING, HEALTHCARE
WELDING
GLAZING & FABRICATION
SEALANTS & ADHESIVES
25%
FASTENERS
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3.5
3.0
INDUSTRY SALES MIX GEOGRAPHIC SALES MIX - CUSTOMER LOCATION
2.5
2.10 1H-2021 1H-2020 1H-2021
2.0
1.75
1.48
0.95
1.5
All other Industry, UK 2% UK 1%
1.02 Trade & Retail
0.80
1.0 25%
AFRICA
5%
0.5 0.07 1.15 Manufacturing, AUSTRALIA
0.0 00 0.73 0.68 Construction, Engineering, Building, Resources 43% 78% AFRICA20% AUSTRALIA94%
2H-19 1H-20 2H-20 1H-21 Transport 32%
Statutory EBITDA Acquisitions & Investments costs
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SGI HY2021 Briefing Presentation

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Our Business

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25 February 2021 ASX Code : SGI

SGI HY2021 Briefing Presentation

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www.heatleys.com.au Broad range distributor of industrial, safety and workplace products to business customers.

www.cltoolcentre.com.au Broad Range distributor of industrial, tooling, safety/ PPE, hardware, building, construction and workplace products to business and retail customers.

www.isgaus.com.au

Independent member-based buying & distribution group with an extensive member network across Australia.

www.awsonline.com.au

An Online e-Store selling safety, healthcare, and workplace products to trade and retail customers.

www.bsabrands.co.uk

A joint venture with Bisley Workwear operating as a wholesale distributor of workwear and safetywear in the United Kingdom and Africa.

Income is earned as a broad range distributor of industrial, safety and workplace products and provider of supply chain solutions through sales force, Online, physical store network, distribution centres, vending and onsite solutions.

SGI HY2021 Briefing Presentation

Scale Within The Group

People, distribution network, diversity across product range, suppliers and customers

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180 team 34 store 80 distributor
members locations in stores in the UK
Australia of the Bisley Workwear Brand
Company owned (9) and
Independents (25)
Up ~130 since Oct18 Up 27 since May19 Up 80 since May19
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more than 300,000 products on offer

more than 40,000

products in

stock held in ~14,000sqm of distribution centres and stores.

more than 1,500 suppliers sourced across 19 countries

more than 4,000 business customers

more than 34,000 retail customers

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Up ~3,500 since Oct18
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Up ~6,000 since Oct18

SGI HY2021 Briefing Presentation

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Product Range – More than 300,000+ Products Available

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A COMPREHENSIVE PRODUCT OFFERING
PRODUCT CATEGORIES
supported by leading brands
Safety / PPE
Industrial / MRO
Workplace
Materials Handling
Retail
Healthcare, Cleaning
& Hygiene
Hardware, Building
& Construction
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SGI Group hold ~40,000 products (~$11.0 million) stocked in its Distribution Centres and Stores

SGI HY2021 Briefing Presentation

Subsidiary companies and key statistics within the group

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Distribution Network

Store Network & Online Channels
		Qty	Bisley Workwear stocked in 80 UK trade stores			106 new store established	network locations since March 2019
Heatleys Safety & Industrial (Company stores)	Western Australia South Australia	5		NORTH 8 Distributors
Industrial Supply Group (Independent member stores)	Australia	25		MIDLANDS 16 Distributors
			NORTHERN
			IRELAND		SOUTH
			8 Distributors	48	Distributors
C&L Tool Centre (Mega-store for trade & retail)	Queensland	1
						NT 1
Total Australia locations	Australia	31
							QLD	8
Australian Workplace Supplies (e-Store online channel)	Australia	1			WA 6
Online ‘e-Store’ channels	Australia (Q3/21) United Kingdom	3 1				SA 5	NSW 6
Distributor stores	United Kingdom	80					VIC 6
Total		116						TAS
								1
SGI HY2021 Briefing Presentation

SGI HY2021 Briefing Presentation

We create value for different customers

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Our Supply Chain Simplified

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Standard Distribution & Shipping
Online Sales Force Stores Vending Stores
Business, Trade & Retail
Vending Store Phone & Email Distribution Centres Delivery
ORDER FULFILLMENT BUY INSTORE, COLLECT OR DELIVERY CUSTOMER
Online e-Business & e-Stores
Stores Stores
Online e-Business
Business, Trade & Retail
Online e-Store
Distribution Centres
Delivery
ORDER FULFILLMENT CLICK & COLLECT OR DELIVERY CUSTOMER
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SGI HY2021 Briefing Presentation

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Half Year 2021 Results

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25 FEBRUARY 2021 ASX Code : SGI

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HALF YEAR 2021 - Financial Highlights Retained Positive Sales and Earnings Momentum After Change in Africa Strategy in Dec’19 to Focus on Profitability

HALF YEAR 2021 HIGHLIGHTS

COMMENTS

Positive performance despite impact by COVID-19

• › Sales of $30.4 million, down $9.3 million ($8.2 million Africa) or 23% on 1H 2020, but up 7.0% on 2H 2020, with a particularly stronger 4Q (October – December).

• › Underlying EBITDA of $2.1 million up 20% on 1H 2020, and up 46% on 2H 2020. A record halfyear result for Stealth.

• › Statutory Net Profit After Tax of $0.17 million (including $0.95 million of investment related costs) versus NPAT of $0.03 million in 1H 2020 and $0.07 million in 2H 2020.

• › $3.83 million acquisition in December 2020 of Queensland market leading distributor ‘C&L Tool Centre’ (C&L) adds annual sales of $14 million and annual EBITDA of $1.3+ million.

• › BSA Brands (UK) (50/50 joint venture with Bisley Workwear) delivered revenue of $1.09 million up 56% or $0.4m compared to a year ago and even stronger uplift compared to 2H 2020 by $0.7m.

TRADING PERFORMANCE NOTES

1. Expected decline compared to a year ago of $9.3 million ($39.7m) as Stealth changed its Africa strategy in December 2019 to focus on more profitable customers.

2. Underlying EBITDA is a non-IFRS measure. The Company believes that it assists investors understand the underlying performance of the business.

3. Growth Investment activities supports strategies planned to deliver longer term benefit to Shareholders. This involves upcoming launch of two new Online e-stores tailored for customers in trade, retail and business and its e-business platform specifically for business customers; and acquisitions completed and in review.

4. The Company continued its investment in its formative years to build a large-scale business portfolio anticipated to provide uplift in earnings in the medium to longer-term delivering value accretion to Shareholders. An example is the recent acquisition of C&L Tool Centre.

TRADING PERFORMANCE	1H 2021	2H 2020	1H 2020
Group Revenue	$30.4m	$28.4m	$39.7m
• Australia sales	$28.8m	$25.9m	$30.6m
• UK Sales	$0.2m	$0.2m	$0.4m
• Africa Sales	$1.4m	$2.0m	$8.4m
Gross Profit	28.1%	28.2%	25.4%
Underlying EBITDA	$2.1m	$1.4m	$1.7m
Underlying EBITDA Percentage	6.9%	5.1%	4.4%
Significant Items Growth Investment	$0.9m	$0.8m	$1.0m
Statutory EBITDA	$1.15m	$0.68m	$0.73m
Net Profit/(Loss) After Tax Attributable members	$0.17m	$0.07m	$0.03m

HALF YEAR 2021 - Results Reconciliation

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Reconciliation – Full-year financial results	31 December 20 $’000	31 December 19 $’000
Underlying EBITDA1,	2,101	1,746
Growth Related Investments:
Investment in the establishment of BSA Brands – brand awareness, promotion, point of sale, travel, marketing, sales team2	-	(365)
Transaction costs – due diligence, acquisition analysis, bank refinance and other related professional fees3	(347)	(278)
Appointment of Senior Personnel (GCFO, CIO, Technology), redundancies and final tenure payments to Heatleys key management relating to acquisition completed in September 20184	(603)	(370)
Statutory EBITDA1	1,151	733
Depreciation	(774)	(713)
Net Finance Costs	(201)	(223)
Profit/ (loss) for the year before tax	176	(203)
Add back: Minority Interest 50% of the BSA Brands (UK) Limited loss	13	(238)
Profit for the year before tax attributable to Members	189	35

• 1 EBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation), Underlying EBITDA and Statutory EBITDA are non-IFRS terms which have not been subject to audit or review; Underlying EBITDA is determined by adding back Growth-Related Investment costs to the Statutory EBITDA which in turn has been determined using information presented in the Group’s financial report.

• 2 Upfront investment in BSA Brands JV to take the Bisley Workwear brand from start-up in the UK market, build brand awareness, meet product compliance conditions and roll out the range into 74 distributor trade store outlets, including brand awareness, promotion, point of sale, travel, marketing and the sales team.

• 3 Transaction costs are significant and relate to restructure of finance facilities to CBA, opportunities evaluated in detail in the year, which ultimately did not proceed, as well as ongoing opportunities.

• 4 Includes investments in new strategic programs ahead of earnings return with focus on senior finance, technology, partnerships, joint ventures and acquisition review activity. These appointments pre-empt upfront corporate and strategic actions expected to increase scale with near-term upside. Also includes one-off costs relating to final tenure payments relating to Heatleys acquisition in September 2018 and one-off redundancy costs incurred in reporting period.

HALF YEAR 2021 - Balance Sheet and Cash Flow

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HALF YEAR 2021 HIGHLIGHTS	BALANCE SHEET SUMMARY	STATUTORY 31 DEC 2020	STATUTORY 30 JUN 2020	STATUTORY 31 DEC 2019
		$M	$M	$M
BALANCE SHEET	Cash and cash equivalents	2.4	1.1	1.4
› Cash position of $2.4m (FY20 $1.1m).	Other current assets	21.3	16.5	22.1
	Property,plant and equipment	0.9	0.7	0.7
› Net Debt of $3.4m inclusive of $2.5m C&L acquisition debt (FY20 Net Debt $1.4m).	Other non-current assets(inc AASB16 Leases of $5.6m)	16.1	12.1	12.3
	Total assets	40.7	30.4	36.5
› C&L acquisition added Intangible Assets of $1.5m; increases to all major balances (Receivables, Inventory, Right-of-Use, Payables and Lease Liabilities); and $0.5m	Financial liabilities (debt)	5.6	2.4	3.3
to Issued Capital.	Other liabilities (includes AASB16 Leases of $3.5m)	21.7	15.3	20.3
› Investment in eCommerce channels that will launch 2H FY21.	Total liabilities	27.3	17.7	23.6
› BSA Brands financially self-sufficient, requiring no additional JV partner	Total equity	13.4	12.7	12.9
contribution to working capital during the half-year.
CASH FLOW	CASHFLOW SUMMARY	STATUTORY 31 DEC 2020	STATUTORY 30 JUN 2020	STATUTORY 31 DEC 2019
		$M	$M	$M
› Operating cash inflow of $0.5m (pcp $1.3m outflow) due to improved margins, working capital management, JobKeeper income and	Net Cash inflow/(outflow) from operating activities	0.5	0.3	(1.3)
reductions to operating cost structure.	Net Cash inflow/(outflow) from investing activities	(1.9)	(0.8)	(0.4)
› Acquisition of C&L structure included cash ($2.5m) and equity ($0.5m),	Proceeds from issuance of shares and borrowings	3.3	0.8	1.7
gross of operational cash on hand ($0.7m).	Repayment of financial liabilities	(0.6)	(1.2)	(0.6)
› Reduced Net Debt exclusive of C&L acquisition debt. Cash and debt balances higher at period end pending change of financier in January	Net cash provided by/(used in) financing activities	2.7	(0.4)	1.1
2021, which expanded Group finance facilities to $10.5m (previously	Net increase/(decrease) in cash and cash equivalents	1.3	(0.9)	(0.6)
$7.4m).	Cash and cash equivalents at beginning of the period	1.1	2.0	2.0
	Cash and cash equivalents at end of the period	2.4	1.1	1.4

SGI HY2021 Briefing Presentation

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Growth Strategy

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25 February 2021 ASX Code : SGI

Our Objective: To Provide a Satisfactory Return to Shareholders in the Long Term

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• We have a clear business strategy that has been consistent since listing, and will create long term value for our shareholders by; 1. Configuring our business to meet the evolving needs of customers. 2. Continuing to grow and develop our core business.

• Alignment to growth 3. Driving top-line and bottom-line results. strategy 4. Implementing leading Online eCommerce. 5. Developing our people through a formal ‘learning, training, intern’ institute. 6. Working in partnership with leading manufacturers, brands, independents, specialist suppliers.

Our Aim is to be Australia’s leading multinational distribution group, as the selected partner for customers, suppliers and independent trade retailers in Australia, United Kingdom and other select international markets. Our Differentiated sales and services model with unparalleled customer service delivers a one-stop-shop for industrial, safety and workplace products and supply chain solutions.

SGI HY2021 Briefing Presentation

Strategy Execution Track Record Story Board Since October 2018

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ACHIEVEMENTS

• › Continued transformative growth

• › Established a significantly stronger business through ongoing investments made

• › New Queensland base by acquiring a market leader C&L Tool Centre

• › In the past 2 years our annual sales have grown by ~$40 million

• › Completed 4 acquisitions and established a 50/50 Joint Venture in the UK since October 2018

• › Added 106 new store locations to our network since March 2019.

2021			2020		2019
BSA Brands JV with Bisley Workwear have surpassed total FY20 revenue. Acquired C&L Tool Centre adding $14m of annual revenue and $1.3m of annual EBITDA. Launched new Bisley Workwear B2C Online e-store in the United Kingdom. www,bisleyworkwear.co.uk Launched new Vending & Onsite solutions model in Western Australia. 15 new vending machines set up at various sites. New financing facilities established to $10.5m up from $7.4m to support strategic growth		• FY20 total client accounts up 405 to 11,630, high-level repeat sales. • FY20 reduced suppliers by 47%. • February20 COVID-19 response • UK economy went into lock down. • 4Q Australia sales down 20.3% pcp • Removed $1.4m of annual costs. • FY20 annual sales up 8% pcp • Australian PPE demand increased. • October19 changed Africa strategy • Cancelled high cost-to-serve large customer contract to focus on serving higher margin business. March19 new distribution partnership with UK’s Troy group to place Bisley Workwear into ~420 stores across the UK. March19 established Joint Venture with Bisley Workwear in the United Kingdom H1/19 first 6 months trading Sales growth at double digit levels May19 acquired Industrial Supply Group. Independent member buying group with 27 stores locations Australia-wide.
		October19 Acquired the Brand Protect-A-Load (PAL) - Innovative Load Restraint Products. December18 completed Heatleys integration
		FY19 trading result with increased Revenue of $40m on pcp FY18. • October18 listed on the ASX • Completed acquisition of Heatley Sales.

SGI HY2021 Briefing Presentation

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How We Are Expanding – Offering More To More Customers

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HOW WE GENERATE INCOME & PROFIT TODAY
EXTERNAL SALES FORCE CATALOGUE INBOUND LOGISTICS COMPANY BRANCH STORES VENDING MACHINES DELIVERY
INDEPENDENT
INTERNAL SALES FORCE EDI BUSINESS TRADE STORES ONSITE SERVICES
EXPANSION IN THE COMING YEARS
COMPANY STORES VENDING SOLUTIONS DISTRIBUTORS FULFILLMENT, e-Store ONLINE with CONTENT &
LOGISTICS, DC’s CLICK & COLLECT SUBSCRIPRION
INDEPENDENT
STORES ONSITE SOLUTIONS INTEGRATED SUPPLY MANAGED INVENTORY e-BUSINESS LINK WEB SERVICES
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OFFERING MORE VALUE TO CUSTOMERS

› Better Unparalleled Customer Experience

› Expanded Product Range & Brands

› More differentiated Sales, Services & Solutions

› Bigger Physical Store Network

› New Online e-Business (EDI, eProcurement, Data Insights)

› New Online e-Store Channels to Retail & Trade Customers

SGI HY2021 Briefing Presentation

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FY21 Investments That Deliver Longer Term Value Creation

Programs that will drive sales and profit uplift.

• § Enhanced customer experiences, expansion of addressable markets and delivery of operating efficiencies.

• § New Online digital capabilities and expansion of supply chain services offering.

• § Increased brand reach, new geography, win more customers, more merchandise on offer.

• § Existing store reinvestment.

• § C&L integration and extract identified revenue and cost synergies.

Business expansion - Continue to strengthen our portfolio and building on capabilities.

• § Expand in Australia, increasing scale, in physical presence and through Online e-Stores.

• § Launch of our Online e-Business channel to drive higher demand across the Group’s businesses.

• § Pursue acquisitions that create more scale, delivering long-term value for shareholders.

eCommerce Digital Channels.

• § New SGI corporate website launched in January 2021.

• § New UK e-Store ‘Bisley Workwear’ launched in December 2020.

• § Upcoming Launch - Online e-Business platform for ‘Heatleys’ business customers early April 2021.

• § EDI, eProcurement, CRM, data insights, webservices.

• § Upcoming Launch of Online e-Stores in 2H-2021: two new e-Stores = marketplaces for trade & retail customers.

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SGI HY2021 Briefing Presentation

Extracting Value Through Business Combinations Acquisition of C&L Tool Centre Successfully Completed 1 December 2020 – Stealth’s Fourth Acquisition Since 2018 21

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EXTRACTING VALUE

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Purchasing Store & Distribution Back Office Product Range Sharing Best Online Cost and Revenue
Synergies Efficiencies Integration Extension Practice eCommerce Synergies
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SGI HY2021 Briefing Presentation

Strategic Priorities

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Our Focus in 2021

Serve customers of all sizes and types, increase Sales to existing customers and grow customer base

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1. Expansion of store network, product range, geography, marketplaces and refurbish existing stores.
2. Significantly expand our eCommerce digital channels.
3. Continue to build a fully integrated buying experience.
Store Delivery
Products Services
4. Complete value accretive acquisitions, integrate and extract synergies. Network Network
5. Deliver more income and profit generating activities through an enlarged business.
6. Develop our people through ‘leadership, training, internship academy’.
7. Enhance operational performance through improved management systems.
Online Onsite Vending Fulfillment &
8. Continuous focus on safety to provide our team members with a high-quality safe working environment. Channels Branch Distribution
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Supporting our investment in; eCommerce, product range expansion, bigger store network, distribution centres, a fully integrated customer offering, wider services & solutions on offer, serving all customer types, entering more marketplaces.

SGI HY2021 Briefing Presentation

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OUTLOOK

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25 FEBRUARY 2021 ASX Code : SGI

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Outlook

Well Positioned for a Stronger 2H-2021

• § Trading performance continued to improve in 1H 2021, and is building momentum, up 7% on 2H 2020.

• § Positive sales and earnings momentum expected to continue, with C&L to contribute sales and profit for full six months of 2H 2021.

• § Upcoming launch in 2H of new eCommerce channels pushing deeper in Business-to-Business (B2B) and Business-to-Consumer (B2C) marketplaces.

• § Bank refinance provides support for further expansion opportunities, aided by increased operating cash inflows from improved performance and C&L acquisition.

• § The continued impact of COVID-19 and potential government responses presents uncertainty for the operating environment.

Stronger Customer Activity

• § Positive high level of tender and quoting momentum with uplift expected from improving business conditions.

• § Australian larger customer projects are steadily increasing after COVID-19 delays.

• § Australian small-to-mid tier customer spend activity has been robust and is improving with stronger demand in Western Australia and Queensland.

• § BSA Brands 1H-21 sales & profit is noticeably better surpassing FY20 sales and profit, albeit that the UK market continues to be challenged by COVID-19.

Acquisition of C&L Tool Centre

• § Integration and synergy work has commenced. Sales and earnings in the first 2 months are up approximately 10.5% compared to last year.

• § C&L will add to the group annual sales of $14m and annual EBITDA $1.3m.

SGI HY2021 Briefing Presentation

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Compelling Investor Value Proposition

INVESTMENT HIGHLIGHTS

Long-term strategy, portfolio and prospects remains intact.

• § Share price not reflecting the full value and potential of the company's aspirations, where we aim to outperform.

• Remains on track for longer term growth target of $200m revenue @ 8% EBITDA. Organic growth-related programs and

• further acquisitions will be integral to achieving this.

• § Differentiated sales and services model & emerging Industry leading position in a large, fragmented, highly-attractive market.

• § Competitively advantaged diversified portfolio with repeat customers and end markets coverage.

• § Improved economic stimulus supports sales activity toward infrastructure, building, construction and mining sectors.

We are optimistic of favourable market share gain driven by;

• § Experienced and committed board, management and team members – who also own 23% of the company.

• § Significantly expanding our eCommerce, store & distribution network and geographic footprint.

• § Innovative customer acquisition and retention capabilities.

• § Multiple levers for growth impacted by organic and strategic events.

• § A commitment to growth principles driven by an outstanding employee culture.

• § A demonstrated disciplined approach to capital management and business investment.

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SGI HY2021 Briefing Presentation

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This document has been prepared by Stealth Global Holdings (the Company) and is provided for information purposes only. This document does not constitute an offer, invitation, solicitation or recommendation with respect to the purchase or sale of any security in the Company nor does it constitute financial product advice. This document is not a prospectus, product disclosure statement or other offer document under Australian law or under any other law. This document has not been filed, registered or approved by regulatory authorities in anyJurisdiction. Byreading this document you agreeto bebound bythe limitations set out in this document.

This document and the information contained within it is strictly confidential and is intended for the exclusive benefit of the persons to whom it is given. It may not be reproduced, disseminated, quoted or referred to, in whole or in part, without the express written consent of the Company. By receiving this document, you agree to keep the information confidential, not to disclose any of the information contained in this document to any other person and not to copy, use, publish, record or reproduce the information in this document without the prior written consent of the Company,which maybewithheld in its absolute discretion.

The information contained in this document is not intended to be relied upon as advice or a recommendation to investors and does not take into account the investment objectives, financial situation, taxation situation or needs of any particular investor. An investor must not act on the basis of any matter contained in this document but must make its own assessment of the Company and conduct its own investigations and analysis. Investors should assess their own individual financial circumstances and consider talking to a financial adviser, professional adviseror consultant before makinganyinvestment decision.

Statements and information in this document are current only as at 24 February and the information in this document remains subject to change without notice. The information contained in this document is for information purposes only and is an overview and does not contain all information necessary to make an investment decision or that would be required in a prospectus or product disclosure statement prepared in accordance with the requirements of the Corporations Act 2001 (Cth) (Corporations Act). The information contained in this document is of ageneral nature and does not purport to be complete or verified by the Company, or any other person. The Company has no responsibility or obligation to inform you of any matter arising or coming to their notice, after the date of this document, which may affect any matter referred to in this document.

While reasonable care has been taken in relation to the preparation of this document, none of the Company, or their respective directors, officers, employees, contractors, agents, or advisers nor any other person (Limited Party) guarantees or makes any representations or warranties, expressor implied, asto or takes responsibility for, the accuracy,reliability, completeness

or fairness of the information, opinions, forecasts, reports, estimates and conclusions contained in this document. No Limited Party represents or warrants that this document is complete or that it contains all information about the Company that a prospective investor or purchaser may require in evaluating a possible investment in the Company or acquisition of shares in the Company. To the maximum extent permitted by law, each Limited Party expressly disclaims any and all liability, including, without limitation, any liability arising out of fault or negligence, for any loss arising from the use of or reliance on information contained in this document including representations or warranties or in relation to the accuracy or completeness of the information, statements, opinions, forecasts, reports or other matters, express or implied, contained in, arising out of or derived from, or for omissions from, this document including, without limitation, anyfinancial information, anyestimates or projections andanyother financial information derived therefrom.

Certain statements in this document constitute forward looking statements and comments about future events, including the Company's expectations about the performance of its businesses. Such forward looking statements involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company and which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. Forward looking statements are provided as a general guide only, and should not be relied on as an indication or guarantee of future performance. Given these uncertainties, recipients are cautioned to not place undue reliance on any forward looking statement. Subject to any continuing obligations under applicable law the Company disclaims any obligation or undertaking to disseminate any updates or revisions to any forward looking statements in this document to reflect any change in expectations in relation to any forward looking statements or any change in events,conditions or circumstances on which anysuchstatement is based.

Past performance is not indicative of future performance and no guarantee of future returns is implied or given. Nothing contained in this document nor any information made available to you is, or shall be relied upon as, apromise, representation, warranty or guarantee as to the past, present or the future performance of the Company. No Limited Party or any other person makes any representation, or gives any assurance or guarantee that the occurrence of the events expressed or implied in any forward looking statements in this document will occur.

This document is only being provided to persons who are the holders of an Australian financial services license and their representatives, sophisticated investors (in accordance with section 708(8) of the Corporations Act and professional investors (in accordance with section 708(11) of the Corporations. Act) or to suchother persons whom it would otherwise belawful to distribute it.

SGI HY2021 Briefing Presentation

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THANK YOU

FOR FURTHER ENQUIRIES

Mike Arnold Group Managing Director & CEO P: +61 (0) 8 6465 7800

Chris Wharton AM Chairman P: +61 (0) 8 6465 7800

John Boland Group Chief Financial Officer P: +61 (0) 8 6465 7800

25 February 2021 ASX Code : SGI

SGI HY2021 Briefing Presentation