Vita : VTG – Guidance for H1 FY22

ASX ANNOUNCEMENT

Vita Group Limited

ACN 113 178 519

77 Hudson Road

Albion Qld 4010

26 November 2021

Market Announcements Office

Australian Securities Exchange

4th Floor, 20 Bridge Street

SYDNEY NSW 2000

ELECTRONIC LODGEMENT

Dear Sir or Madam

Vita Group Limited (ASX:VTG) - H1FY22 Guidance Update

In accordance with the Listing Rules, please find attached for immediate release an announcement by Vita Group Limited (ASX:VTG).

This announcement has been authorised for lodgement by VTG's Board of Directors.

Yours sincerely

George Southgate

Chief Legal and Risk Officer / Company Secretary

Vita Group Limited

Further enquiries:
Andrew Ryan	George Southgate
Chief Financial Officer	Chief Legal and Risk Officer / Company Secretary
Mob: [phone]	Mob: [phone]

ASX ANNOUNCEMENT

Vita Group announces guidance for H1FY22

26 November 2021

Vita Group (ASX:VTG) today announced that it expects to deliver revenues from its Artisan business in the range of $12.5 million to $12.9 million for the six months to 31 December 2021 (the Period), a decrease of 15 to 17 per cent on the prior year. This decrease is due to state-basedCOVID-19 lockdowns in NSW, Victoria, and ACT forcing the closure of many of Artisan's clinics between July and mid-October 2021, as well as higher than expected staff attrition in Queensland.

For the Period, Vita Group anticipates that operational earnings before interest, tax, depreciation, and amortisation (EBITDA) (pre-AASB-16, excluding the allocation of corporate overheads) will be in the range of $1.0 million to $1.4 million from continuing operations1. Vita is finalising the allocation of corporate overheads following the completion of the sale of its Retail ICT and Sprout businesses to Telstra.

Results for the Period are subject to final trading results, accounting adjustments, and auditor review. Vita Group will report its results for H1FY22 in early 2022.

After a long period of negotiation with Telstra and completion of the ICT sale transaction, Artisan is now Vita's primary business and growth opportunity. Whilst future economic conditions remain uncertain, the Vita Group management team will turn its focus to executing the organic growth programs in what is traditionally a seasonally low second half; attracting, developing, and retaining clinical talent, all of which is key to Artisan's future success; and maximising and leveraging its corporate support capability while driving efficiencies in operations.

"We see great opportunity in the aesthetics category, which has characteristics reminiscent of the mobile phone industry during its early growth stages. We have a clearly defined strategy and now have the time and focus to execute it. We believe in the long-term success of our Artisan business and subsequently that of the Vita Group", said outgoing Vita Group Chief Executive Officer, Maxine Horne. "We have a skilled team in place to focus solely on executing Artisan's growth strategy with a strong and flexible balance sheet, which will support and protect our business and provide us with the flexibility to achieve our long-term strategic goals. Vita's incoming CEO Pete Connors and the team look forward to updating the market further when we announce our half year results in the new year."

This announcement has been authorised for lodgement by VTG's Board of Directors.

Further enquiries:
Andrew Ryan	George Southgate
Chief Financial Officer	Chief Legal and Risk Officer / Company Secretary
Mob: [phone]	Mob: [phone]

• Continuing operations includes Artisan Aesthetics Group and excludes Retail ICT and Sprout.