GUD : Investor Day Presentation - 8 April 2022

For personal use only

7 April 2022

Manager, Company Announcements ASX Limited

Level 4

20 Bridge Street SYDNEY NSW 2000

GUD Holdings Limited (the "Group", GUD, ASX: GUD)

2022 Investor Day and Trading Update

GUD is hosting an Investor Day at its APG facility in Melbourne tomorrow commencing at 8.30am.

Graeme Whickman, Managing Director, will provide an update on the Group's Strategy including the Portfolio Vision, ESG and acquisition performance. A Group trading update and outlook will also be provided.

Selected business unit leaders will give presentations on the respective business strategy as well as providing an update on operations and performance. A site visit of APG's manufacturing facility at Keysborough is included in the schedule.

Trading Update and Outlook

Sales rebound as omicron and weather impacts abate

• • The significant Omicron-related disruptions evident in January largely abated during February. Despite additional weather-related challenges in March, revenues rebounded strongly as mobility improved

• • Pick-Up and SUV volumes increased by 3850 units (+2%) YTD March vs PCP, despite partial OEM lock downs in

  January that impacted some businesses. Notwithstanding the dynamic global environment, supply of new vehicles into ANZ supports the Group's planning assumptions

• • Dealer sales backlogs are at historically high levels supportive of solid revenue growth over the short term, with ongoing demand over the medium term supported by new vehicle sales normalising to pre-COVID levels

• • Demand for Davey products is recovering as expected and is evident across both Davey's traditional ANZ products and export pool products

• • March Omicron-related supply chain impacts were largely limited to Qld and some Asian suppliers. Strong inventory levels are insulating the aftermarket businesses. Despite intensified supply chain pressures from the Russia-Ukraine conflict and China lockdowns, freight and supplier costs and stock availability have, to date, tracked in line with FY22 expectations and these pressures are not expected to moderate in Q4

• • While inventory will continue to be managed in response to global supply chains, some opportunistic moderation of inventory levels is expected post the Q3 peak (Chinese New Year) where supplier reliability has been proven out

• • Q4 FY22 USD FX needs are hedged with top up hedges recently at circa 73c

• • Further inflationary pressures in freight, supply and material costs will likely necessitate price rises in H1 FY23

FY22 guidance re-affirmed

• • Absent any further significant mobility restrictions or unforeseen economic or other circumstances:

  • - The Group expects underlying FY22F EBITA in the range of $155 million - $160 million1, including contributions from APG (c.6 months) and Vision X (c.7 months)

  • - APG is expected to deliver CY22F EBITA of $80-84 million1, in line with the guidance provided at the time of the acquisition, with an expected skew to H2 CY22 (i.e., H1 FY23) to align with new vehicle releases and seasonal demand

• • Cash conversion is expected to improve despite elevated inventory levels

• • Focus remains on achieving net debt/EBITDA of c.2x by 31 December 2022 and is not dependent upon a significant reduction in inventory levels

1. The APG component of the guidance is included on a pre AASB 16 basis, as the impact of lease accounting under AASB 16 is currently under determination for this business. Guidance range excludes amortisation of acquired intangibles (APG and Vision X) but includes amortisation for the existing businesses.

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Graeme Whickman, Managing Director, said: "We are pleased to share an update on the status of the business at this exciting and transformative time. Trading through the third quarter has seen satisfying performance improvements after the impacts of Omicron were felt in the earlier part of the year."

For personal use only

All presentation materials are included below.

This document has been authorised for release by the GUD Holdings Limited Managing Director.

For further information:

Graeme Whickman Managing Director GUD Holdings Limited

T: 03 9243 3375

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Safety first

Site safety briefing

ersonal use only

Briefing by Geoff Dennis, HR Manager APG

Schedule

Groups

ersonal use only

To accommodate the tour of the AutoPacific Group (APG) facility, we have split attendees into three groups. Every group will complete the full program. All groups will start and end the day together.

start	Group A
8.30	Group overview
9.00	APG site tour
9.45	Break
9.50	Undercar
10.10	Electric Vehicles
10.25	Break
10.40	Powertrain
11.10	Lighting and Power Management
12.10	Break
12.15	4WD Accessories and Trailering
1.15	Break / transition
1.20	Transit / lunch
2.15	Guided tour AAA Expo
3.00	Close

start	Group B
8.30	Group overview
9.00	Undercar
9.20	Electric Vehicles
9.35	Break
9.50	APG site tour
10.35	Break
10.40	Powertrain
11.10	Lighting and Power Management
12.10	Break
12.15	4WD Accessories and Trailering
1.15	Break / transition
1.20	Transit / lunch
2.15	Guided tour AAA Expo
3.00	Close

start	Group C
8.30	Group overview
9.00	Lighting and Power Management
10.00	Powertrain
10.30	Break
10.40	APG site tour
11.25	Break
11.30	Undercar
11.50	Electric Vehicles
12.05	Break
12.15	4WD Accessories and Trailering
1.15	Break / transition
1.20	Transit / lunch
2.15	Guided tour AAA Expo
3.00	Close

Contents of this document follows the sequence of Group A