Adairs : ADH 1H FY2022 Appendix 4D & Interim Financial Report

ADAIRS LIMITED

APPENDIX 4D

onlyHALF YEAR REPORT

For the 26 week period ended 26 December 2021

This information should be read in conjunction with the interim condensed financial report for the 26 weeks ended 26 December 2021.

1. DETAILS OF THE REPORTING PERIOD AND THE PRIOR CORRESPONDING PERIOD

	Current period:	28 June 2021 to 26 December 2021 (26 weeks)
	Prior corresponding period:	29 June 2020 to 27 December 2020 (26 weeks)
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	2. RESULTS FOR ANNOUNCEMENT TO THE MARKET
				Increase/	Change
		Comparison to previous corresponding period	(Decrease)	%	$'000
		Revenue from continuing operations	(Decrease)	-0.5%	241,752
		Profit after tax from continuing operations attributable to members	(Decrease)	-59.9%	17,596
		Net profit attributable to members	(Decrease)	-59.9%	17,596
personalFor					Franked
					Amount per	amount per
		Dividends			security	security
		2021 Final Dividend - Ordinary (paid)		10.0 cents	10.0 cents
		2022 Interim Dividend - Ordinary (resolved, not yet provided for at 26 December 2021)	8.0 cents	8.0 cents
		Record date for determining entitlements to the dividend		Ordinary Shares	22nd March 2022
		Payment date of interim dividend		Ordinary Shares	14th April 2022
	3.NET TANGIBLE ASSET BACKING PER ORDINARY SECURITY
					26 December	27 December
					2021	2020
		Net tangible asset backing per ordinary security1		-47 cents	-16 cents

1. The net tangible asset backing includes the Right-of-use assets as per AASB 16.

APPENDIX 4D

ADAIRS LIMITED

APPENDIX 4D

only4. ENTITIES OVER WHICH CONTROL HAS BEEN GAINED OR LOST DURING THE PERIOD

During the period, Adairs Limited acquired all of the shares in Refocus Furniture Pty Ltd (trading as "Focus on Furniture") for a total consideration of $81.3 million. The acquisition was funded through a combination of new and existing facilities and placement of ordinary shares in Adairs Limited.

5. DIVIDEND

An interim dividend of 8.0 cents per share has been declared by the board. The record date for the interim dividend is 22 March 2022, with payment on 14 April 2022.

use6. DIVIDEND REINVESTMENT PLAN

The company's dividend reinvestment plan (DRP) has been activated and will operate for the interim dividend payable on 14 April 2022. Eligible shareholders may participate in the DRP in respect of all or part of their shareholding. The last date for receipt of election notices for the DRP is 23 March 2022. The Company intends to issue new shares to satisfy its obligations under the DRP.

There is currently a 1.5% DRP discount applied to the dividend and no limit on the number of shares that can participate in the DRP. Shares will be allocated to shareholders under the DRP for the 2022 interim dividend at an amount equal to the average of the daily volume weighted average market price of ordinary shares of Adairs Limited traded over the period of 5 trading days commencing on 24 March 2022, less the 1.5% discount.

personal7. DETAILS OF ASSOCIATE AND JOINT VENTURES

Please refer to the Annual Financial Report for the 52 weeks ended 27 June 2021, Note 24 of the consolidated financial statements.

8. FOREIGN ENTITIES

All entities comply with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board.

For

2 ADAIRS LIMITED

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INTERIM CONDENSED FINANCIAL REPORT

FOR THE 26 WEEKS ENDED

26 DECEMBER 2021

ABOUT ADAIRS LIMITED

Adairs Limited is Australia's largest omni channel specialty retailer of home furnishings, home furniture and home decoration products. We own and operate three vertically integrated brands in the Home category - Adairs, Mocka and Focus on Furniture. All brands are design led, customer focused, and sell quality in-house designed product direct to customers in Australia and New Zealand. Adairs head office is in Melbourne, Australia.

For further information visit our investor relations website www.investors.adairs.com.au

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ABOUT ADAIRS

Adairs is a leading specialty retailer of home furnishings in Australia and New Zealand with a national footprint of stores across a number of formats and a large and growing online channel. Our strategy

is to present customers with a differentiated proposition, which combines on-trend fashion products, quality staples, strong value and superior customer service.

For further information visit

www.adairs.com.au

ABOUT MOCKA

Mocka is a vertically integrated, pure-play online home and living products designer and retailer operating in Australia and

New Zealand. Mocka sells its own exclusive, well designed, functional and stylish products in the Home Furniture and Décor, Kids and Baby categories. Delivering great product and compelling everyday value- for-money is core to the Mocka customer proposition.

For further information visit

www.mocka.com.au

ABOUT FOCUS ON FURNITURE

Focus on Furniture ("Focus") is a vertically integrated omni-channel furniture and bedding retailer offering well designed, functional and on-trend products at great value for money through its network of stores in Australia and its online channel. Focus is characterised by its attention to customer service, support, product quality and range.

For further information visit

www.focusonfurniture.com.au

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CONTENTS

• Directors' Report

• Independent Auditor's Review Conclusion
  6 Auditor's Independence Declaration
  7 Directors' Declaration

• Interim Consolidated Statement of Profit or Loss

• Interim Consolidated Statement of Other Comprehensive Income

1. Interim Consolidated Statement of Financial Position
2. Interim Consolidated Statement of Changes in Equity
3. Interim Consolidated Statement of Cash Flows
4. Notes to the Financial Statements

1. Corporate Information

INTERIM CONDENSED FINANCIAL REPORT

1