Live Ventures Incorporated : Investor Presentation Q1 - FY24

A Diversified Holding Company

Investor Presentation

December 2023

Disclaimers

FORWARD-LOOKING STATEMENTS

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The words "Live Ventures," "company" or "Company" refer to Live Ventures Incorporated and its wholly-owned subsidiaries. This presentation contains "forward- looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended, that are intended to be covered by the "safe harbor" created by those sections and other applicable laws. In accordance with such safe harbor provisions, statements contained herein that look forward in time that include everything other than historical information involve risks and uncertainties that may affect the company's actual results. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. These forward-looking statements include, but are not limited to, statements regarding annualized sales, annualized revenue, and adjusted EBITDA. These statements are based on various estimates and assumptions, whether or not identified in this presentation, believed to be reasonable at the time of preparation; however, no assurance can be given that any such estimates or valuations will ultimately be realized or that realizations will occur within the timeframes on which these estimates are made. Forward-looking information is inherently subjective and uncertain, and is not necessarily indicative of the future performance, nor is it a guaranty that such results will be attained. Forward-looking information is based on the assessment of various valuation and operating parameters, but actual future performance and market conditions are volatile and unpredictable. Live Ventures may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC") on Forms 10-K and 10-Q, Current Reports on Form 8-K, in its annual report to stockholders, in press releases and other written materials, and in oral statements made by its officers, directors or employees to third parties. There can be no assurance that such statements will prove to be accurate and there are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statements made by the company, including, but not limited to, plans and objectives of management for future operations or products, the market acceptance or future success of the company's products, and the company's future financial performance. The company cautions that these forward-looking statements are further qualified by other factors, including, but not limited to, those set forth in the company's Annual Report on Form 10-K for the fiscal year ended September 30, 2022 and Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2023 (available at http://www.sec.gov). Live Ventures undertakes no obligation to publicly update or revise any statements in this presentation, whether as a result of new information, future events, or otherwise.

TRADEMARKS AND TRADENAMES

Live Ventures owns or has the rights to various trademarks, service marks, and trade names that it uses in connection with the operation of its business. Solely for convenience, the trademarks, service marks, and trade names referred to in this presentation may appear without the ®, TM, or SM symbols; but, such references are not intended to indicate, in any way, that Live Ventures will not assert, to the fullest extent under applicable law, its rights or the right of the applicable licensor to these trademarks, service marks, and trade names.

Key Investment Highlights

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Live Ventures is a diversified holding company with a strategic focus on value-oriented acquisitions of domestic middle-market companies.

Live Ventures' acquisition strategy is sector agnostic and focuses on well-run, closely held businesses with a demonstrated track record of earnings growth and cash flow generation.

Driving Shareholder Value:

• Solid growth, profitable, free cash flow, no capital raises from stock issuance since 2014
• Experienced acquirer and manager of U.S. based middle-market companies
• Track record of growth & building shareholder value through excellence in operations and disciplined capital allocation
• Patient capital with long-term investment focus
• Diversified capital allocation strategy
• Highly invested management team: Compensation structure aligned with shareholders
• Liquid alternative to investing in middle-market private equity

Share Price Performance & Equity Overview

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3-Year Performance

LIVE vs Nasdaq Composite

LIVE up 113%

Nasdaq Composite up 15%

EQUITY OVERVIEW (as of 12.01.23)

Price Per Share: $26.07

52-Week Range: $22.81 - $40.38

Shares Outstanding: 3.16 M

Market Cap: $87 M

Total Assets: $360 M

Stockholders' Equity: $104 M

Revenues (ltm): $325 M

Net Income (ltm): $3.83 M

Q3 2023 Revenues: $91.5 M

Q3 2023 Net Income: $1.1 M

Chart source: barchart.com as of 12.01.2023; Equity Overview source: Yahoo Finance! as of 12.01.2023

Acquisition & Capital Allocation

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Acquisition Strategy:

• Target companies with annual earnings between $5 and $50 million
• Closely held or family-founded businesses with a strong culture and management team that is looking to continue operating the business
• Companies with a defensible market position and track record of stable earnings and cash flow
• Companies in need of new ownership and outside capital to support growth, both organically and through acquisitions
• Value-orientedwith focus on accretive acquisitions
• Have retained all acquired companies to date

Capital Allocation Strategy

Capital

InvestmentM&A

Balance Sheet

Management

Differentiators

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Long-term focused,	Strategic focus on	Value-oriented with
Buy-Build-Hold	acquiring U.S.-based	focus on accretive
strategy	middle market	acquisitions
	growth companies,
	industry-agnostic

Patient capital with	Investment in	Growing, diversified
opportunities to invest	existing platforms	portfolio
through new platforms	(both organic and
	bolt-on)

Annual Revenue & Adjusted EBITDA Growth

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24% CAGR

23% CAGR

						$287							$45
					$273								$38
		$200	$193	$192								$26
							$23
	$152
									$18
$79								$11			$10
FY 2016	FY 2017	FY 2018	FY 2019	FY 2020	FY 2021	FY 2022	FY 2016	FY 2017	FY 2018	FY 2019	FY 2020	FY 2021	FY 2022
			Revenue							Adjusted EBITDA
			(in millions)								(in millions)

See Appendix for a reconciliation of Net (loss) income to total Adjusted EBITDA for the periods indicated

Recent Financial Performance

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($ in millions, except per share)

Q3 FY 2023

Revenue
	$91.5
$68.3
FY Q3 2022	FYQ3 2023

Adjusted EBITDA

$8.8	$9.6
FY Q3 2022	FY Q3 2023

Diluted EPS

$1.11
	$0.33
FY Q3 2022	FY Q3 2023

Nine Months Ended June 30, 2023 FY 2023

	Revenue
	$251.6
$213.1
2022	2023

Adjusted EBITDA

$31.2	$26.3
2022	2023

Diluted EPS

$8.01
	$1.42
2022	2023

See Appendix for a reconciliation of Net income to total Adjusted EBITDA for the periods indicated.

Diverse Portfolio - 4 Main Platform Investments

$291M

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Total Invested

YTD 2023 % of total Revenue by

Segment

Retail-Flooring 19.2%	Corporate 1.0%
Retail-Entertainment 24.0%
Flooring Manufacturing
33.4%

Steel Manufacturing 22.4%

YTD 2023 Adjusted EBITDA as % of

Revenue by Segment

Retail Flooring

Retail Entertainment

Flooring Manufacturing

Steel Manufacturing

0	5	10	15	20

See Appendix for a reconciliation of Net income to total Adjusted EBITDA for the periods indicated.

Portfolio Timeline

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2015 acquired Marquis	2016 acquired Vintage	2020 acquired Precision	2022 acquired The Kinetic	2023 acquired Flooring
Industries	Stock	Marshall	Co.	Liquidators; Harris Flooring
				Group; and Precision Metal
				Works

Flooring ManufacturingRetail EntertainmentSteel ManufacturingRetail Flooring

Live Ventures Consolidated Annual Revenue ($ Millions )

				$200	$193	$192	$273	$287
		$79	$152
$33
	FY 2015	FY 2016	FY 2017	FY 2018	FY 2019	FY 2020	FY 2021	FY 2022
						Annual Revenue