Kaizen Global Investments : KGI is pleased to announce an investment in the hair care industry

Acquisition announcement 30 June 2022

Kaizen Global Investments Limited ("KGI") is pleased to announce an investment in General Pacific Partners Pty Ltd ("GPP"), a newly formed company created to facilitate the asset purchase of a private hair care business.

The business is a colour and hair care company, which has provided quality products to the hairdressing industry in Australia, New Zealand and the Asia-Pacific region for over 25 years.

KGI has an investment of $2.3m in GPP, which owns 100% of the assets of the business. This gives KGI an initial investment of 33% with an option to increase that percentage to 40% over the next 12 months.

KGI expects the EBITDA contribution per share at the initial ~33% investment level to be in the region of 15- 17 cents per share per annum. Subject to the business' future realised earnings, the Board aims to consider paying out most of the earnings from this investment as a fully franked dividend to KGI shareholders. Please note that this is not forward guidance, nor should it be relied upon in making any investment decisions.

We're excited to own a strong brand in the professional hair care industry in Australia with a focus on delivering high quality products to clients, providing ongoing education and high service levels.

It has been a busy 7 months for KGI with the successful sale of its medi-aesthetic business and redeployment of the capital into GPP. The sale of the medi-aesthetic business related more to consolidation in the industry and a view that this could negatively impact the earnings of that business. We are still very interested in the medi-aesthetic industry, and see opportunities within a growing thematic.

The Board intends, within KGI's private investment mandate, to continue to 'collect' companies and reallocate their generated cash flows into other investments - both listed and unlisted - to optimise compounding assets and earnings per share.

We are excited about the runway that lies ahead for KGI over the coming years.

Connor Grindlay

Managing Director

Kaizen Global Investments Limited ACN 602 033 670 Suite 115, 377 Kent Street Sydney NSW 2000

Contact Tel: + 61 0(2) 7903 0007 [e-mail] www.kaizenglobalinvestments.com

Forward looking statements disclaimer

This announcement may contain forward-looking statements or information, within the meaning of applicable security laws with respect to the Company. By their nature, forward-looking statements are subject to a variety of factors that could cause actual results to differ materially from the results suggested or historic. Therefore, readers should not place undue reliance on any forward-looking statements above.

Any forward-looking information contained in this announcement is based on the opinions, estimates and assumptions of the Company's board. These assumptions are based on historic trading, estimated economic conditions, current and expected trends but these are all subject to uncertainty. Forward-looking statements involve significant risks, uncertainties and assumptions. There can be no assurance that such statements, underlying risks, uncertainties and assumptions will prove accurate.

Factors which might cause actual results to differ materially include, without limitation, regulatory changes impacting the Company and industry in which it operates, economic or market conditions on both a national and global level, currency fluctuations, risks inherent in other entities at a similar stage of development and industry in which the Company operates. Risks include competition, unsatisfactory development or marketing of the Company and/or its products or services, regulatory action or litigation, and failure to enter into agreements or arrangements with other parties on fair or reasonable terms. Forward-looking information is made only as of the date on which it is provided and, except as may be required by applicable laws, the Company disclaims any intent or obligation to update such forward-looking information whether as a result of new information, future events or otherwise.

All investors or future investors should speak to their financial advisor before making any investment decisions.

Kaizen Global Investments Limited ACN 602 033 670 Suite 115, 377 Kent Street Sydney NSW 2000

Contact Tel: + 61 0(2) 7903 0007 [e-mail] www.kaizenglobalinvestments.com