WestStar Industrial : Investor Presentation

Disclaimer

This presentation has been prepared by WestStar Industrial Limited (ASX:WSI) (WestStar or the Company) and is for information purposes only. The information contained in the presentation is summary only and should be read in conjunction with all other Announcements made by the Company. The information is current as at 28 February 2022 and the Company does not undertake to provide any additional or update information, whether as a result of new information, future events or results or otherwise.

Some of the statements appearing in this presentation may be in the nature of forward looking statements. You should be aware that such statements are only predictions and are subject to inherent risks and uncertainties. Those risks and uncertainties include factors and risks specific conditions in the financial markets, among other things. Actual events or results may differ materially from the events or results expressed or implied to the industries in which WestStar operates and proposes to operate as well as general economic conditions, prevailing exchange rates and interest rates and in any forward looking statement. No forward looking statement is a guarantee or representation as to future performance or any other future matters, which will be influenced by a number of factors and

subject to various uncertainties and contingencies, many of which will be outside the control of the Company and its directors, staff and consultants.

WestStar does not undertake any obligation to update publicly or release any revisions to these forward looking statements to reflect events or circumstances

after today's date or to reflect the occurrence of unanticipated events. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions or conclusions contained in this announcement.

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WestStar Industrial Limited (the Company) and its directors, employees and consultants make no representations or warranty as to the accuracy, reliability or completeness of this presentation, and have no liability, including liability to any person by reason of negligence of, or contained in or derived from, or for any omissions from this document, except liability under statute that cannot be excluded. You are cautioned not to place undue reliance on any forward looking statement. The forward looking statements in this presentation reflect views held only as at the date of this presentation.

This Presentation does not constitute financial product or investment advice or a recommendation to acquire WestStar Industrial shares and has been prepared without taking into account the objectives, financial situation or needs of individuals. Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and seek legal and taxation advice appropriate to their jurisdiction. WestStar Industrial is not licensed to provide financial product advice in respect of WestStar Industrial shares.

By reviewing or retaining this presentation, you acknowledge and represent that you have read, understood and accepted the terms of this important notice.

ASX Release authorised by the Board of Directors of WestStar Industrial Limited.

An industrial services company operating in the energy, resources, utility, defence and infrastructure sectors, in metropolitan and remote areas, across Australia.

About Us

Through its subsidiaries, WestStar works with clients to deliver:

• - Engineering, Construction & Maintenance Services;

• - Fabrication Services;

• - Construction Capability in:

  • - Civil;

  • - Structural, Mechanical & Piping (SMP); and

  • - Electrical & Instrumentation (E&I).

All services provided as either standalone offerings or as an integrated turnkey solutions.

SIMPEC is a diversified services company specialising in construction and asset management services.

SIMPEC's delivery capacity and expertise as a collaborative Partner in achieving excellence in Construction and Asset Management services.

Alltype Engineering provides workshop fabrication, site installation, construction and maintenance services to the Oil & Gas, Water, Power Generation, Infrastructure, Mining, Resources, Utility, Petrochemical and Defence industries, in both the private and public sectors.

Corporate Highlights

CEO Mr Robert Spadanuda appointed Managing Director

Strengthened Balance Sheet:

• o Cash and cash equivalents of $28.9M

• o ~$7.5M Bond Facility with Export Finance Australia

• o Placement of $3.2M to sophisticated and institutional investors

• o Long term debt reduced to Nil

Share Price $0.021 (as at 28 Feb 22)	Shares on Issue 1.13B	Earnings per Share 0.23c
Market Cap $23.7M (as at 28 Feb 22)	Cash at Bank $28.9M (as at 31 Dec 21)	Board & Management ~50%

Financial Highlights

• o Record Revenue ~$74.7M for H1 FY22, a 199% increase (H1 FY21: $24.9M)

• o Contribution to total Group revenue:

  • o SIMPEC: ~$53.7M

  • o Alltype Engineering ~$21.0M

• o EBITDA of $4.2M* - a 605% increase (H1 FY21: $596K)

• o This strong result demonstrated an EBITDA margin of 5.6%

• o NPAT of $2.35M for H1FY22 - A significant turnaround from H1 FY21 NPAT of -$577K

• o Record cash balance of $28.9M at end of H1 FY22, a ~119% increase (FY21: $13.2M)

Revenue $74.7M	EBITDA $4.20M
NPAT $2.35M	Cash at Bank $28.9M

*Underlying EBITDA is an unaudited, non-AIFRS financial measure which is not prescribed by Australian Accounting Standards ('AAS')