MotorCycle : Chair & MD Address to Shareholders

For personal use only

REGISTERED OFFICE

68 Moss Street

Slacks Creek Q 4127

PO Box 654

Springwood Q 4127

Tel | 07 3380 2290

The Manager

Company Announcements Office

Australian Securities Exchange

20 Bridge Street

Sydney NSW 2000

2 December 2021

MotorCycle Holdings Limited (ASX: MTO) - Presentations to 2021 Annual General Meeting

Pursuant to listing rule 3.13.3 please find attached the following documents for presentation to shareholders at the 2021 Annual General Meeting commencing at 10am (Brisbane time):

• The welcome address by Mr David Foster, the Company's Chair;
• The address by Mr David Ahmet, the Company's Managing Director; and
• The accompanying slide presentation.

Yours faithfully

MotorCycle Holdings Limited

Nicole Spink

Company Secretary

MotorCycle Holdings Limited | ACN 150 386 995

ASX Announcement (ASX: MTO)

For personal use only

2 December 2021

Chair's Address to 2021 AGM

Welcome

Good morning ladies and gentlemen, my name is David Foster and I am the Chair of MotorCycle Holdings Limited and I will chair today's Annual General Meeting. On behalf of the Board and Executive team, I'd like to welcome and thank everyone for attending today's meeting.

Today's meeting is being held online via the Lumi platform. This allows shareholders, proxies and guests to attend the meeting virtually. All attendees can watch a live webcast of the meeting. In addition, shareholders and proxies can ask questions and submit votes in real time.

Questions can be submitted at any time during the meeting. Shareholders can submit written questions or ask verbal questions through the platform.

To submit a written question, click on the messaging icon and type your question in the chat box. Once you have finished typing, please hit the arrow symbol to the send the question.

For those shareholders who wish to ask a verbal question, an audio facility will be available during this meeting. To use this facility, please pause the broadcast on the virtual platform and then click on the link under "Asking audio questions". A new screen will open where you will be prompted to enter your name and the topic of your question before being connected. You will be able to listen to the meeting on this page while waiting to ask your question. If you have any issues using this system, please return to the virtual platform.

Your questions will be moderated by our Company Secretary, Nicole Spink, who will read out the question. While you can submit questions anytime from now, I will address your questions at the relevant time in the meeting. If we receive multiple questions on one topic, these questions will be amalgamated together.

Finally, we will endeavour to answer all your questions, however if due to time constraints we are unable to address your question in the meeting, we will contact you after the meeting.

Voting today will be conducted by way of a poll on all items of business. To provide you with enough time to vote, I will shortly open voting for all resolutions and voting will remain open throughout the meeting.

ABN 29 150 386 995

68 Moss Streetwww.mcholdings.com.au Slacks Creek, QLD 4127

For personal use only

If you are eligible to vote at this meeting, a polling icon will soon be visible on your screen. Selecting this icon will bring up a list of today's resolutions and present you with voting options. To cast your vote simply select one of the options 'For', 'Against' or 'Abstain'. There is no need to hit a submit or enter button as the vote is automatically recorded.

You do however have the ability to change your vote up until the time I declare voting closed.

Should there be a break in our technology, we will work to come back online within 15 minutes however if this is not successful, we will defer this meeting to another date and time to be advised.

Meeting Open & Apologies

The meeting has been called under the Notice of Meeting dated 29 October 2021, the details of which were sent to all shareholders. If there is no objection, I propose to take the notice as read. A copy of the notice can be found on the meeting homepage.

It is now (present time) and I have been informed by our share registry, Computershare, that a quorum is present, so I formally declare the meeting open.

Are there any shareholders that wish to have an apology recorded in the minutes of the meeting? If so, please submit the member's name as a question and this will be recorded by the Company Secretary.

I now declare voting open on all items of business. The polling icon will soon appear on your screens. Please submit your votes at any time. I will give you a warning before I move to close voting.

In addition to those present today, valid proxies have been received from 71 shareholders that represent 39.46% of the vote.

Board & Senior Executive Team

Firstly this morning I'd like to introduce the Board of MotorCycle Holdings and Senior Executive Team of the Company:

• David Ahmet, the Founder, Managing Director and CEO of MotorCycle Holdings
• Warren Bee, who has been a director of MotorCycle Holdings since 2011 and is currently chair of the Nomination and Remuneration Committee
• Rick Dennis, who joined the Board in 2016 and who also chairs the Audit and Risk Committee

Chair's Address | Page 2

For personal use only

• Peter Henley, who has been a director since March 2017 and has also been appointed a member of the Audit and Risk Committee and the Nomination and Remuneration Committee and is the
  Company's representative on the board of the MotorCycle Finance Joint Venture
• Rob Cassen, who was appointed to the Board in October 2017 and has also been appointed a member of the Audit and Risk Committee and the Nomination and Remuneration Committee
• Bob Donovan, our Chief Financial Officer, and
• Nicole Spink, our Company Secretary.

I would also like to welcome:

• Simon Crane, the audit partner of KPMG, the Company's auditors
• Stephanie Daveson, Partner of Clayton Utz, the Company's lawyers, and
• Jessie Yerma, a representative from our Share Registry, Computershare.

Agenda

Today's meeting will proceed in four parts:

1. Firstly, I will provide an overview of how the business has successfully delivered on its strategy through a review of the key highlights and achievements for the past financial year as well as an overview of our strategic outlook.
2. Secondly, Managing Director David Ahmet will review the operational performance and financial results of the Company for the past year, discuss current activities, and outline our plans and focus for the coming year.
3. Following this, you will be able to ask questions about the Company's financial results, operations and market outlook, or any matters relating to my address or Dave's presentation.
4. This will be followed by the formal business of the meeting, at which time I will take your questions specifically regarding each of the proposed resolutions.

Chair's Address

It gives me great pleasure to address you today and outline the progress of your company.

With consistently strong trading conditions during the year, the company delivered a record financial and operational performance, and we continued to outperform the market and grow our market share.

Chair's Address | Page 3

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The revenue and profit increases across the business were driven by improved margins on new and used motorcycles, ongoing sales demand momentum, restricted supply chains and strong contributions from recent acquisitions and added product ranges.

After several years of challenging trading conditions, the company continued to capitalise on the heightened demand for recreation and leisure products that we've seen emerge from COVID-19, and our strategic focus on retaining margins while supply was restricted contributed strongly to the performance.

Motorcycle Holdings has continued this year with its track record of strong growth and performance.

We've worked diligently over the past few years, to manage challenging trading conditions and ensure the business would be in a strong position to capitalise on improved conditions when they returned.

Now they have improved, our diversified revenue streams, vertical integration and a comprehensive geographical footprint, provided us with an excellent platform to take advantage of the trading conditions and deliver this record result.

Although there were no acquisitions during the year, we continued to grow revenue and profit across all business divisions, which now span across the motorcycle and accessories supply chain from wholesale, retail, service and repair, finance and insurance.

The company's performance in the last financial year exceeded expectations and we have continued to develop our position as the largest motorcycle dealership and accessories group in Australia.

It is very pleasing that all divisions of the business improved performance and contributed strongly to this year's record results.

The company's revenue increased 19% to $433.9 million with solid contributions across each business division.

Gross profit (excluding Jobkeeper payments) increased 26% to $128.5 million, with a gross profit margin of 29.6%.

Underlying EBITDA increased 61% to $44.5 million.

Net Profit after Tax increased 86% to $28.3 million up from $15.2 million before impairment for the previous year.

Chair's Address | Page 4