Usher Group Annual Business Report 2023

FY2023

2023 2023

Annual Business Report Annual Business

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CONTENTS

04 | WE ARE USHER 05 | 2023 OVERVIEW 06-07 | FY23 PERFORMANCE 08 | FY23 HIGHLIGHTS 09- 1 0 | FOUNDER’S & CEO’S REPORT 1 1 | FY23 KEY PROJECTS 12 | WHERE ARE WE NOW 13 | OUR STRATEGY 14 | BUSINESS STRUCTURE 15 | USHER BOARD 16 | USHER LEADERSHIP TEAM 17 | PEOPLE OF USHER 18 | EDUCATION & EMPLOYMENT 19 | WOMEN OF USHER 20 | FY23 SAFETY OVERVIEW 21 | PRODUCTS & SERVICES 22 -26 | FY23 BY DIVISION 27 | MANAGEMENT PRACTICES 28-30 | MARKETING 31 | CUSTOMER SERVICE 32 | ENVIRONMENTAL PRACTICES 33 | CITIZENSHIP 34 | CULTURE 35 | SIGNIFICANT ACHIEVEMENTS 36-37 | COMPANY HISTORY 38-44 | STRATEGIC PARTNERSHIPS 45 | FUTURE PLANS

USHER GROUP

WE ARE USHER

The Usher Group continues to be one of the most experienced painting & associated services contractors in the industry, delivering high quality and innovative trade solutions to a broad range of business sectors.

$55M+ SALES SECURED $60M+ TURNOVER

Established in 2001, the family owned, and managed company provides services throughout Australia.

With the head office located on Queensland’s Gold Coast, The Usher Group maintain its position as the largest painting contractor in the state, continuing strong customer relationships with key tier 1 builders such as Multiplex, Mirvac & Hutchinson Builders.

The Usher Group continues to be 100% privately owned and overseen by Chairman Theodore Vairaktaris.

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#800+ PROJECTS COMPLETED NATIONALLY

FY2023

2023 OVERVIEW

5

USHER GROUP

FY23 PERFORMANCE OVERVIEW In 2023 the Usher Group is emerging out of a strategic consolidation life cycle.

Our team fought hard through a challenging economic environment to defend our leading position, but also found new ways to strengthen the foundations of our core business units and trigger a new wave of growth through Inter-development projects and targeting new market segments.

We continue to monitor the potential for industry regulation and the danger of being lulled into complacency by our own dominance.

With the re-formation of the Usher Board in late 2022 to only include internal executives.

We have seen great benefit from reviewing and consolidating policies governing support functions that drive consistency of decision making and compliance across the organisation.

We are seeing a stronger alignment of service levels and reduction in variability through the way our work is delivered, promoting more streamlined processes.

YEAR ON YEAR COMPARISON

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FY2023

FY23 PERFORMANCE

BY BUSINESS UNIT

SIGNAGE 5.4%

ACCESS 6.3%

Contribution of turnover by business unit

MAINT. 3.2%

Commercial Coatings $26.5m USCC 44.7%

Coatings $24m Maintenance $1.9m Signage $3.2m

USC 40.5%

Access $3.75m

USCC USC MAINT. SIGNAGE ACCESS 500

Contribution of won projects by business unit

400

Commercial Coatings 33

300

Coatings 412

200

Maintenance 171

100

Signage 101

0

Access 66

FY23 WON PROJECTS

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USHER GROUP

FY23 FY23 FY23HIGHLIGHTS HIGHLIGHTS HIGHLIGHTS KEY FIGURES KEY KEY FIGURES FIGURES

MILESTONES MILESTONES MILESTONES

Secured Secured Secured

Usher Cup 2023 raised over Usher UsherCup Cup2023 2023raised raisedover over

#787 #787 #787 New Projects

New NewProjects Projects

Closed Closed Closed

$55.5m $55.5m $55.5m New Contract Packages

New NewContract ContractPackages Packages

To Tosupport support1010nominated nominatedcharities charities

Six Years A Hostage Six SixYears YearsAAHostage Hostage

#150 #150 #150 Guests - 1st Usher Ticketed Event

Guests Guests- 1st - 1stUsher UsherTicketed TicketedEvent Event

Female / Male Ratio Female Female/ Male / MaleRatio Ratio

Herston Quarter Project Herston HerstonQuarter QuarterProject Project

We Weare areproud proudtotobe beone oneofofthe themajor major employers of females in the industry employers employersofoffemales femalesininthe theindustry industry

Master MasterBuilders BuildersHeritage Heritage Refurbishment Award Refurbishment RefurbishmentAward Award

58% 58% 58% We are proud to be one of the major Staff reaching 10yr Milestone Staff Staffreaching reaching10yr 10yrMilestone Milestone

#30 #30 #30 Incredible longevity in our people

Incredible Incrediblelongevity longevityininour ourpeople people

Number of apprentices Number Numberofofapprentices apprentices

#38 #38 #38 Investing in our future

Investing Investingininour ourfuture future

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$100k $100k $100k To support 10 nominated charities

WINNER WINNER WINNER Master Builders Heritage

Master Painters Awards Master MasterPainters PaintersAwards Awards

WINNER WINNER WINNER Overall 2022 Painter of the Year

Overall Overall2022 2022Painter Painterofofthe theYear Year

Gold Coast Business Awards Gold GoldCoast CoastBusiness BusinessAwards Awards

WINNER WINNER WINNER Trades & Construction Category

Trades Trades&&Construction ConstructionCategory Category

FO RE

FY2023

FOUNDER’S OUNDER’S FOUNDER’S REPORT EPORT REPORT

"getting back to our core "getting back to ourback core "getting to ourmodel core people, clients, business people, clients, business model people, clients, business model & doing what we do best". & doing what we do best". & doing what we do best".

Despite so much uncertainty within This year and the pandemic fuelled this industry and challenges faced in years prior are a testament to Despite so much within This year and the the resilience pandemicoffuelled our uncertainty business, the decision was made both our business Despite so much uncertainty within This year and the pandemic fuelled this industry and challenges in years prior areand a testament to to officially passfaced the baton of our people. this industry and challenges faced in years prior are a testament to our business, leadership the decision made the resilience of both our business onwas to our newly formed our business, the decision was made the resilience of both our business to officially pass the baton and our people.

C-Suite Team:ofCEO - Stuart Ryan, We faced countless challenges and to officially pass the baton of and our people. leadership on COO to our newlySpano formed - Shane and CSMO posted record losses yet somehow leadership on to our newly formed C-Suite Team:Mikel CEO -Nyholt.

Stuart Ryan, We faced countless challenges and together we survived.

C-Suite Team: CEO - Stuart Ryan, We faced countless challenges and COO - Shane Spano and CSMO posted record losses yet somehow COO - Shane Spano and CSMO posted record losses yet somehow together we survived.

Operating in an economic Mikel Nyholt. I have so much confidence in Mikel Nyholt. together we survived. these gentlemen and their ability to environment that has sadly seen confidence in Operating in an economic steer this organisation back to some major builders and I have so much I have so much confidence in Operating in an economic these has gentlemen and their ability to environment that has sadly seen sustainability and imprint their own subcontractors go under - Usher these gentlemen and their ability to environment that has sadly seen steer this organisation back some major builders and leadership and to legacy on our people Survived. steer this organisation back to some major builders and sustainability and and the imprint their own subcontractors go under - Usher has industry. sustainability and imprint their own subcontractors go under - Usher has leadership and legacy on our people Survived.

Navigating through a significant leadership and legacy on our people Survived. andsaw theus industry.

As chairman of the board, my focus Business Consolidation which and the industry.

Navigating through a significant will now centre around the bleeding from our core - Usher has Navigating through a significant As chairman of the board, and my focus Business Consolidation Governance future proofing our Survived which saw us As chairman of the board, my focus Business Consolidation which saw us will now centre around the bleeding from our core - Usher has business. will now centre around the bleeding from our core - Usher has Governance and future proofing our Survived Fighting through the challenges Governance and future proofing our Survived business.

We have an extraordinary group of implementing several significant business.

Fighting through the and challenges system process changes - Usher people who are industry weapons, and Fighting through the challenges We have an extraordinary group implementinghas several significant of Survived together with our Group of We have an extraordinary group of implementing several significant system and process changes - Usher people who are industry weapons, and and specialised trade services system and process changes - Usher people who are industry weapons, and has Survived We are getting back to ourtogether withstrategic our Group of partnerships we are a force core has Survived together with our Group of specialised trade services and Multiplier. people, clients, business model & specialised trade services and partnerships we are a force We are getting backwhat to our doing wecore do best. Asstrategic we strategic partnerships we are a force We are getting back to our core Multiplier. people, clients, business model & standards continue to raise the of Multiplier. people, clients, business model & doing what we best.

Asthose we who remain ourdo team for Theodore Vairkataris doing what we do best. As we continue to raise of Onlythe thestandards Strong People Chairman of Usher continue to raise the standards of our team for those who remain Theodore Vairkataris have Survived our team for those who remain Theodore Vairkataris Only the Strong People of Usher Chairman Only the Strong People of Usher Chairman have SurvivedThough the last few years may have have Survived felt like a cruel game of survival in Though the last few years may have this industry, we are now primed and Though the last few years may have felt like a cruel game of survival in strong ready with incredibly felt like a cruel game of survival in this industry, foundations we are now primed and in our people and our this industry, we are now primed and ready with incredibly systems strong to shift from Surviving to ready with incredibly strong foundations inTHRIVING. our people and our foundations in our people and our systems to shift from Surviving to systems to shift from Surviving to THRIVING. THRIVING.

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USHER GROUP

CEO’S REPORT

T

"primed & prepared to start building back from the ground "primed & prepared to start up." building back from the ground up."

FY23 was a challenging year for the group but a necessary one, as we were forced to make some difficult business decisions for the future of our organisation.

Our leadership team strategically executed a rapid deceleration of our Victorian business through the closing of 2022, as we return our focus to securing and delivering quality projects in SEQ. The business is primed and prepared to start building back from the ground up, our focus is ensuring everything we do moving forward supports the vision, longevity, sustainability and profitability within the group.

Q4 saw the business make another internal pivot, adapting to the growing needs of the market and seeking to maximize the strengths of our people.

This pivot centred around the restructuring of our Maintenance division and its amalgamation with our Repaint & Fitout team to become a solidified subcontractor based project management services business model, with the ability to scale Nationally.

As a result the entity name has evolved to Painting & Maintenance, where we have positioned Ben Sinfield as GM at the helm of leading this newly formed team.

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One of the remaining critical tasks was to procure a new Financial Controller and through the final monthFY23 of the FY awe were able to was challenging year for the welcome Fiona Cousens to team group but a necessary one, as we who quickly established herself asdifficult were forced to make some valuable asset, providing much business decisions afor the future of neededour leadership presence within organisation. the finance/payroll team.

Our leadership team strategically Turnover and profitability remain an of our executed a rapid deceleration ongoing presentbusiness challenge for the the Victorian through business as weoftransition between closing 2022, as we return our industry cycles, fortunately focus to securing andUAS delivering Accessquality has been the entity that has projects in SEQ. really thrived through the tough times. The business is primed and prepared to start building back Heading intothe theground new FYup, ourour Project from focus is Pipeline is up from previouswe do moving ensuring everything quarters and looking very strong supports the vision, forward with some significant opportunities longevity, sustainability and that weprofitability are well positioned togroup. within the secure.

Q4 saw the business make another With the returned focus to securing internal pivot, adapting to the and delivering works in SEQ, and growing quality needs of the market we have strategically addedthe twostrengths of seeking to maximize new Supervisors and another CA to our people. our USC/USCC Team as impact This pivot centred around the playersrestructuring to strengthenofour our Maintenance relationships, to divisionget andback its amalgamation with implementing our processes, drive our Repaint & Fitout team to become productivity, increase quality andbased a solidified subcontractor ultimately grow our GP as weservices start project management to ramp back upmodel, in bothwith number business the ability to and size of projects. scale Nationally.

Stuart As Ryan a result the entity name has CEO evolved to Painting & Maintenance, where we have positioned Ben Sinfield as GM at the helm of leading this newly formed team.

One of the remaining critical tasks was to procure a new Financial Controller and through the final month of the FY we were able to welcome Fiona Cousens to team who quickly established herself as valuable asset, providing a much needed leadership presence within the finance/payroll team.

Turnover and profitability remain an ongoing present challenge for the business as we transition between industry cycles, fortunately UAS Access has been the entity that has really thrived through the tough times.

Heading into the new FY our Project Pipeline is up from previous quarters and looking very strong with some significant opportunities that we are well positioned to secure.

With the returned focus to securing and delivering quality works in SEQ, we have strategically added two new Supervisors and another CA to our USC/USCC Team as impact players to strengthen our relationships, get back to implementing our processes, drive productivity, increase quality and ultimately grow our GP as we start to ramp back up in both number and size of projects.

Stuart Ryan CEO

FY2023

FY23 KEY PROJECTS SECURED

COMPLETED Destination Gold Coast

Tower 2 Multiplex

80 Ann St

Office Tower Mirvac

Queens Wharf

Towers 2 & 3 Multiplex

Main Beach

Beach Houses Hutchinson Builders

Surfers Paradise

Royale

Hutchinson Builders

Queens Wharf

Heritage Precinct Multiplex

210 Brunswick St

Build-To-Rent Hutchinson Builders

Broadbeach

Signature Icon

Newstead Residences

Quay Mirvac

Broadbeach

272 Hedges Huchinson Builders

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USHER GROUP

WHERE ARE WE NOW FY23 was a year of two halves. It began positively as we emerged from COVID-19 with activity recovering and confidence in the markets reopening.

Midway through, the outlook changed as the Ukrainian-Russian war, supply chain constraints, higher inflation and rapidly rising interests rates began to temper growth expectations and increase uncertainty.

Usher’s operating environment also changed through FY23 as we made the commercial decision to exit the Victorian, Sydney & Adelaide Markets and consolidate our business offerings to that of our core legacy services As a company, confidence remains high in both the the outlook for Construction in SEQ leading up to Brisbane Olympic Games and the sustainability/profitability of the business.

This confidence triggered a number of major milestones including the re-formation of Usher’s Board as well as the “Passing the Baton” event, which marked an official change in leadership.

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FY23 saw Managing Director - Theodore Vairaktaris step away from the day-to-day overseeing of business, to focusing solely on the chairman role and in doing so passing on responsibility of the group to the newly established leadership team.

With over 20 years of exceptional leadership, Theodore has paved the way for our success.

Under Theodore’s guidance, we've achieved remarkable milestones and overcome challenges.

Now, as he focuses on the role of Chairman, his strategic vision will continue to shape our future.

Our new C-Suite Team, led by Stuart, Shane, and Mikel, will build on this foundation and drive us forward.

Together, we embark on a new era focused on exceeding expectations, delivering exceptional service, and fostering growth. With Theodore as Chairman and our dynamic leadership team, we're poised to reach new heights and leave a lasting impact in our industry.

FY2023

OUR STRATEGY OUR STRATEGY

The Usher model for sustainability and strategic growth centres around our ability to LEVERAGE some for keysustainability functions that our growth success.

The Usher model anddrive strategic centres around our ability to LEVERAGE some key functions that drive our success.

These functions have been developed over time and consist of: These functions have been developed over time and consist of:

Solid Relationships Solid Relationships Our range of service offerings within the group Our range of service offerings withinopportunities the group The ability to identify project specific The ability to identify project specific opportunities Strategic Partnerships Strategic Partnerships

The depth and magnitude of our resources

The magnitude of our experience resources and 20+depth Yearsand of industry leading 20+ Years of industry leading experience and credibility credibility In-house developed systems & processes In-house developed systems & processes

FY23 saw a considerable consolidation of our resources with a returned focus to identifying sustainable markets where we could confidently tender on a conforming model that supports our rates and business structure.

FY23 saw a considerable consolidation of our resources with a returned focus to identifying sustainable The targeted success was achieved through each state is amodel testament the value, detail and transparency markets where we couldthat confidently tender on a conforming that to supports our rates and business of our systems and processes for both tendering and project delivery. structure.

This approach to business has proven effective in the communication and coordination of our projects The targeted success that was achieved through each state is a testament to the value, detail and transparency Nationally. of our systems and processes for both tendering and project delivery.

This approach to business has proven effective in the communication and coordination of our projects Nationally.

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USHER GROUP

BUSINESS STRUCTURE

LEGACY GROUP 10 YEAR MILESTONE

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FY2023

USHER BOARD The Usher Board meet four times per year to review, strategise and implement change within the organisation.

Discussing everything from performance to external environment, forecasting, client analysis, risks and compliance, policy framework, safety, IT, Marketing, Operations and Governance.

Theodore Vairaktaris Chairman

Stuart Ryan Chief Executive Officer

Shane Spano Chief Operations Officer

Mikel Nyholt Chief Sales & Marketing Officer

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USHER GROUP

USHER LEADERSHIP TEAM

STUART RYAN Mikel Nyholt

Chief Executive Officer

Chief Operations Officer

Chief Sales & Marketing Officer

Dan Miller Access GM

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Mat Allen Signage GM

SHANE SPANO

Ben Sinfield P&M GM

Amanda Pennycook Safety GM

Fiona Cousens Finance GM

FY2023

PEOPLE OF USHER 30+ STAFF REACHING 10 YEAR MILESTONE Our people are the core of who we are and drive everything that we do.

We have worked hard to identify, attract and retain some of the industries most experienced and influential professionals.

Craftsmen of our chosen trades we have developed highly skilled and collaborative teams who have a specific focus on excellence in what they do but also understand the common vision for the Group and how we are stronger together.

We are proud of the longevity through our core team and can attribute this to what we feel are the secret elements to having a thriving company culture - providing meaningful work, transferring ownership/responsibility, recognising and investing in the continuous learning, development & wellness of our people.

EMPLOYING OVER 200 PEOPLE Office

Onsite

Subcontractors

Workshop

38

HEAD OFFICE

92

COMMERCIAL COATINGS

64

COATINGS

19

MAINTENANCE

SIGNAGE

14

ACCESS

13 0

20

40

60

80

100

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USHER GROUP

EDUCATION & EMPLOYMENT The Usher Group believe Industry-relevant experience will not only provide the opportunity for recruits to better understand the industry and its complexities, it will also provide us with the opportunity to secure the best people.

Apprentices

Internships

Usher are huge advocates for apprentiships, encouraging young people to look at a trade as a viable option to an extended career path.

The Usher Group have made a strong effort in 2023, engaging University students in work experience opportunities to further their skills in the workplace.

We nominate our apprentices for awards which we know they deserve.

This years nomination for the Master Painters Apprentice of the year award was – Cody Brown.

He competed on 1 September 2023.

Apprentices Per Division 51% | Commercial Coatings 29% | Coatings 14% | Signage

We are proud to say that as an organisation the Usher Group has put more apprentices back into the industry than any other painting company in Queensland. We are also past winners of the CSQ Construction Skills QLD employer of the year.

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Having strong relationships with universities such as Griffith University and Bond University, the Usher Group have had multiple students work within our Marketing, Estimating and Administration teams.

These students assisted with the procurement of tenders as well as the marketing and social media management of the inaugural Usher Cup. During the Usher Cup, Griffith University Communications students worked for three months to help facilitate interviews, social media coverage, event planning and assistance in running the event on the day.

We have had great feedback from this opportunity and have continued discussions for the next Usher Cup event utilising Griffith University students.

We also regularly attend the Bond University Internship Fair speaking with graduates about potential career paths in the Construction Industry.

Study Gold Coast The Usher Group are excited to announce that we have partnered with Study Gold Coast to help support students and graduates, whether they be local or international, looking for opportunities to gain work experience or potential work in the construction industry.

FY2023

WOMEN WOMENOF OFUSHER USHER 35+35+ FEMALE FEMALE PROFESSIONALS PROFESSIONALS We are Weproud are proud to harbour to harbour somesome incredible incredible and and powerful powerful women women at Usher at Usher who are wholeading are leading the way the way with their with their knowledge, knowledge, experience experience and influence and influence held in held in our industry. our industry.

FromFrom earning earning countless countless industry industry awards awards to assuming to assuming significant significant leadership leadership roles roles within within the business, the business, our our women women are responsible are responsible for a number for a number of keyofbusiness key business functions functions including including safety, safety, payroll, payroll, finance, finance, corporate corporate partnerships, partnerships, contracts contracts administration, administration, graphic graphic design, design, leading leading hands, hands, painters painters & executive & executive assistants. assistants.

PAVING PAVING THE THE WAY WAY Male 41.2%

FemaleFemale 9.1% 9.1%

Male 41.2%

FemaleFemale 58.8% 58.8%

HEAD HEAD OFFICE OFFICE

Male Male 90.9% 90.9%

ON SITE ON SITE

We love Weto love seetoour seewomen our women thrivethrive and continue and continue to be to a beacon be a beacon of inspiration of inspiration for aspiring for aspiring ladiesladies who are who are considering considering a career a career in theinconstruction the construction and trade and trade industry. industry.

The Usher The Usher GroupGroup will maintain will maintain a focus a focus around around acquiring acquiring and growing and growing moremore incredible incredible women women to guide to guide us us through through our next our phase next phase of growth of growth and evolution and evolution as an as organisation. an organisation.

To all To theallamazing the amazing women women of Usher of Usher - Thank - Thank You! You!

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USHER GROUP

FY23 FY23 SAFETY SAFETY FY23 FY23 SAFETY SAFETY OVERVIEW OVERVIEW OVERVIEW OVERVIEW 9 - CLAIMS TOP 9 - CLAIMS TOP CAUSES LODGED CAUSES LODGED FORFOR INJURY INJURY

P

TOPTOP CAUSES 9 -CAUSES CLAIMS FORFOR LODGED INJURY INJURY Painting & Rendering Solutions Commercial large-scale painting Specialised Shop Fit out Projects Protective highly durable coatings Specialised finishes and wall coverings Render & Remedial repairs

Musculoskeletal Musculoskeletal BodyBody Musculoskeletal Musculoskeletal BodyBody Injuries Injuries and diseases and diseases Stressing Stressing Injuries Injuries and diseases and diseases Stressing Stressing 1 - ACTIVE 1 - ACTIVE CLAIM CLAIM 1 - ACTIVE CLAIM

SUITABLE SUITABLE DUTIES DUTIES PLANPLAN ACCEPTED ACCEPTED

si

on of ou

SUITABLE DUTIES PLAN ACCEPTED

Total Injuries Total Injuries -7 -7 Total Injuries Total Injuries -3 - 3 Total Injuries Total Injuries -7 - 7 Signage Solutions Total Injuries Total Injuries -3 -3 Total Costs Total $37k Costs $37k Total Costs Total $26k Costs $26k Total Costs Total $37k Costs $37k Design and Documentation Total Costs Total $26k Costs $26k Consultation Scheduling and % of total % ofinjuries total injuries 78% 78% % of total % ofinjuries total injuries 33% 33% % of total % ofinjuries total injuries 78% 78% % of total % documentation ofinjuries total injuries 33% 33% Licencing and engineering Fabrication and installation Our production facility utilises modern design & manufacturing techniques

I st

effort rted effort to Through have to Through have more FY23 more incident/injury FY23 there incident/injury there was awas and concerted ahazard and concerted hazard efforteffort to have to have moremore incident/injury Through incident/injury FY23 and there hazard and was hazard a concerted ef hhe tooffice. the office. reporting Ourreporting safety Our from safety team from site team were come site were able come through able to through achieve totoachieve thetooffice. the office.

Our safety Our safety team reporting team were from were able site to able achieve come to achieve through to the le collect to collect and thisdisseminate and and thisdisseminate as and a result as the a result have most the have most been accurate been able accurate to able collect to collect and disseminate and disseminate thisthe and most the as amost accurate result accurate have been able to co oe.date. safetysafety data data for the forUsher the Usher Group Group to date. to date. safety data for the Usher Group to date.

W p ctive proactive approach This approach data This to data helps our tosafety helps our oursafety team management our team management adoptadopt a proactive a proactive approach approach to ourto This safety ourdata safety management helps management our team adopt a proact Access Solutions identify system, providing providing thethat visibility thepose visibility to identify to identify system, providing the visibility to identi tify and system, manage and manage the hazards the hazards that pose risks risks to and manage and manage the hazards the hazards that pose that pose risks risks to to Scaffolding Swing stages health and safety and safety before before they lead they to and safety before they lead to in d njury to injury or health illness. or illness. lead injury to injury or illness. or illness. health Mast Climbers Abseil Technicians Temporary anchor points

yking seeking theBeing PCBU’s the Being PCBU’s present sitepresent and site onsafety and site onsafety and site team actively and team has actively has seeking seeking the PCBU’s the PCBU’s site and Being sitesafety and present safety team on team has site has and actively seeki yimely manner manner ensured andensured decisions and issues decisions issues are thatresolved influence are thatresolved influence in the a timely in the a timely manner manner and decisions and decisions ensured that influence that issues influence are the resolved the in a timely m ness are controlled are ongoing controlled ongoing instead performance instead performance of being of being of reactive, theof reactive, business thegiving business giving are controlled are controlled instead instead ongoing of being of performance being reactive, reactive, giving of giving the business ar having g a robust a the robust safety Usher the safety Usher Group Group a reputation a all reputation having of aby robust a robust safetysafety the Usheracross Group reputation system system across across divisions allofdivisions byhaving system system across all divisions alla divisions by byof having our business our business partners. partners. our business partners.

15 - INTERNAL 15 INTERNAL AUDITS AUDITS 1 - -COMMON 1 - COMMON LAW LAW CLAIM CLAIM

ALL ABOVE ALL ABOVE 85 % 85 %

20

Maintenance Solutions

Long Term Maintenance Plans - INTERNAL AUDITS 1 - COMMON 1 - 15 COMMON LAWLAW CLAIM CLAIM Façade Remediation Projects ALLRepaint ABOVE 85 %

Building Maintenance Building Wash Down Commercial Grounds Maintenance

ser

FY2023

FY23 SAFETY PRODUCTS PRODUCTS & & OVERVIEW SERVICES SERVICES

PRODUCTS PRODUCTS&& SERVICES SERVICES

TOP CAUSES FOR INJURY

& Rendering &our Rendering Solutions Solutions We have seen We Painting have ourPainting services seen evolve services evolve Commercial Commercial large-scale large-scale painting painting ignificantly significantly over 22 Specialised years over inShop 22 business. years in Specialised Fit Shop outFit Projects out business.

Projects Protective Protective highlyhighly durable durable coatings coatings Specialised Specialised finishes finishes and wall andcoverings wall coverings Render Render & Remedial & Remedial repairsrepairs

We have maintained We have maintained our position ourasposition as ne of theone industry of theleaders industry in leaders the fieldin the field paintingofand painting continue and to continue strengthen to strengthen ur associated our associated service base service in line base with in line with Musculoskeletal Body our customers’ our customers’ needs andneeds and Injuries and diseases Stressing expectations. expectations.

Total Injuries - 7

Total Injuries - 3

Signage Solutions Solutions In 2023 weInembarked 2023 Signage we embarked on a significant on Costs a significant Total Costs $37k Total $26k Design Design and Documentation and Documentation Consultation Consultation Scheduling Scheduling and documentation and documentation % of total injuries 78% % of total injuries 33% restructure restructure of our Group, of our making Group, a making a Licencing Licencing and engineering and engineering rategic consolidation strategic consolidation of services ofthat services that Fabrication Fabrication and installation and installation production Our production facility facility utilises modern modern were no longer wereOurno aligned longer with aligned with our utilises our designdesign & manufacturing & manufacturing techniques techniques business business model merging andthose merging those ffort to havemodel more and incident/injury and hazard hadOur the that infrastructure had team the infrastructure to able create to create ethat office. safety were to achieve greater outcomes greater outcomes for clients. for our clients. ollect and disseminate theour most accurate .

We continue We to continue adapt and to adapt improve andour improve our position toposition better solve to better customer solve and customer and tive approach to our safety management Access Access Solutions Solutions consumer challenges. challenges. ify and manage consumer the Scaffolding hazards that pose risks to Scaffolding SwingSwing stagesstages jury or illness.

Mast Climbers Mast Climbers Our goal isOur to have goalAbseil is dedicated to have dedicated teams teams Abseil Technicians Technicians Temporary Temporary anchor anchor pointspoints working collaboratively, working collaboratively, combining ing the PCBU’s site and safety team combining has resources resources and services andtoinfluence services improveto improve manner and decisions that the productivity productivity and ensure a consistent ensure a consistent re controlled instead ofand being reactive, giving company standard. company standard. a robust safety system across all divisions by

For a project Forto a project run effectively to run effectively every every cog needscog needs to be supported. to be supported.

As one As one Maintenance Maintenance Solutions Solutions rvice provider, servicewe provider, have better we have insight better insight Long Term Long Maintenance Term Maintenance Plans Plans 1 -over COMMON LAW CLAIM Façade Façade Remediation Remediation the entire over the project. entire project.

Repaint Repaint Projects Projects

We We have have seenseen our our services services evolve evolve significantly significantly overover 22 years 22 years in business. in business.

We We have have maintained maintained our our position position as as one one of the of the industry industry leaders leaders in the in the fieldfield of painting of painting andand continue continue to strengthen to strengthen our our associated associated service service basebase in line in line withwith our our customers’ customers’ needs needs andand expectations. expectations.

In 2023 In 2023 we embarked we embarked on aon significant a significant restructure restructure of our of our Group, Group, making making a a strategic strategic consolidation consolidation of services of services thatthat were were no longer no longer aligned aligned withwith our our business business model model andand merging merging those those thatthat hadhad the the infrastructure infrastructure to create to create greater greater outcomes outcomes for our for our clients. clients.

We We continue continue to adapt to adapt andand improve improve our our position position to better to better solve solve customer customer andand consumer consumer challenges. challenges.

Our Our goalgoal is toishave to have dedicated dedicated teams teams working working collaboratively, collaboratively, combining combining resources resources andand services services to improve to improve productivity productivity andand ensure ensure a consistent a consistent company company standard. standard.

For For a project a project to run to run effectively effectively every every cog cog needs needs to be to supported. be supported.

As one As one service service provider, provider, we have we have better better insight insight overover the the entire entire project. project.

Building Building Maintenance Maintenance Building Building Wash Wash Down Down Commercial Commercial Grounds Grounds Maintenance Maintenance

21

USHER GROUP

USHER | COMMERCIAL OMM EDUCATION & EMPLOYMENT COATINGS The Usher Group believe Industry-relevant experience will not only provide the opportunity for recruits to better understand the industry and its complexities, it will also provide us with theFY22 opportunity to secure Turnover the best people. FY23 Turnover Apprentices

$

Internships

The Usher Group have made a We have had great feedback strong effort in 2023, engaging from this opportunity and have University work 10M students in15M 20Mdiscussions 25M continued for the experience opportunities to next Usher Cup event utilising further their skills in the Griffith University students.

Projects FY22 Projects FY23 workplace.

We also regularly attend the We nominate our apprentices Bond University Internship Fair for awards which we know they Having strong relationships speaking with graduates about with universities such as Griffith deserve. potential career paths in the # University and Bond University, This years nomination for the Construction Industry.

Master Painters Apprentice of the Usher Group have had the year award was – Cody Brown. multiple students work within Study Gold Coast 0 5 15Estimating and 20 25 30 He competed on 1 September 2023. 10our Marketing, Administration teams.

The Usher Group are excited to announce that we have Apprentices Per Division These students assisted with partnered with Study Gold the procurement of tenders as 51% | Commercial Coatings Coast to help support students well as the marketing and social and graduates, whether they be 29% | Coatings media management of the local or international, looking $260K inaugural Usher Cup. 14% | Signage for opportunities to gain work SA experience or potential work in During the Usher Cup, Griffith the construction industry.

University Communications We are proud to say that as an QLD NSW students worked for three organisation the Usher Group months to help facilitate $2.4M has put more apprentices back into the industry than any other interviews, social media VIC coverage, event planning and painting company in $430K assistance in running the event Queensland. We are also past on the day. winners of the CSQ Usher are huge advocates for apprentiships, encouraging young people to look 5M at a trade 0M as a viable option to an extended career path.

Construction Skills QLD employer of the year.

$22.4M

TURNOVER BY STATE

22

Despite a fairly strong year in company turnover and working on QLD’s Largest Integrated Development - Queens Wharf, the Commercial Coatings team net result was dragged down by both the economic environment and industry pressures.

Significant challenges were faced in the closing out of major projects across Victoria, Sydney and Adelaide.

With this divisions focus returned to SEQ and its major pipeline of Tier 1 projects, confidence is high for a return to strength in 2024.

Office 5

Site 90

FY2023

USHER | COATINGS USHER | COATINGS EDUCATION & EMPLOYMENT The Usher believe year Industry-relevant experience provide FY22 the FY23 wasGroup a disruptive for the coatings team will not only Turnover as sustainability became a pressing concern opportunity for recruits to better understand thefor industry and its complexities, in certain marketopportunity segments and it operating willwas alsoaprovide us with to team secure the best people.

FY23 disruptive yearthe for the coatings

Turnover FY23

Turnover FY22 Turnover FY23 regions. as sustainability became a pressing concern for $ operating in certain market segments and Following a rapid consolidation of works in Internships Apprentices regions.

Melbourne late in 2022, the strategic direction of $ 0M 5M 10M 15M 20M The Usher part Groupofhave Usher huge advocates for and become thisare business changed a made a We have had great feedback Following a rapid consolidation of works in strong in 2023, engaging apprentiships, necessary encouraging split/amalgamation of effort services within from this opportunity and have Melbourne late in 2022, the strategic Universitydirection students inofwork young the people group.to look at a trade 0M 5Mdiscussions 15M FY2320M continued for the Projects Projects FY2210M this business and become part of a experience opportunities to as a viable optionchanged to an next Usher Cup event utilising necessary split/amalgamation of services within further their skills in the extended path.

Amidstcareer the chaos, this division delivered some Griffith University students. the group. workplace.

FY22attend theProjects FY23 extremely high-end and award winning projects WeProjects also regularly Wethat nominate apprentices # Bond University Internship Fair of the quality & strength of are aour reminder Amidst chaos, thisthey divisionHaving delivered strongsome relationships for awardsthe which we know our work speaking with graduates about high-end and award winning projects extremely with universities such as Griffith deserve. potential career paths in the University and Bond forof the This years # ofUniversity, that are nomination a reminder the quality & strength Heading into FY24 there is now a clear direction 0 Construction 100Industry.200 300 400 Master Painters Apprentice of the Usher Group have had our work that this business is to deliver projects under the year award was – Cody Brown. multiple students work within Study Gold Coast $50m in line with renewed industrial agreement.

He competed on 1 September 2023. ouraMarketing, Estimating and 0 Heading into FY24 there is now clear direction 100 200 300 400 teams. that this business is to deliver Administration projects under The Usher Group are excited to $50m in line with renewed industrial agreement. announce that we have Office Apprentices Per Division Subbie 5 15 | Commercial Coatings 51%

Office Subbie 29% | Coatings 5 15 14% | Signage

We are proud to say that as an organisation the Usher Group has put more apprentices back into the industry than any other painting company in Queensland. We are also past winners of the CSQ Construction Skills QLD Site employer of the year.

110

Site 110

These students assisted with the procurement of tenders as well as the marketing and social media management of the inaugural Usher Cup. During the Usher Cup, Griffith University Communications students worked for three months to help facilitate interviews, social media $19M coverage, event planning and assistance in running the event on the day. $19M

partnered with Study Gold Coast to help support students and graduates, whether they be local or international, looking for QLD opportunities to gain work experience or potential work in the construction industry.

QLD

NSW

VIC

VIC

$4.7M

$360K NSW

$4.7M

$360K

TURNOVER BY STATE

TURNOVER BY STATE

23

USHER GROUP

USHER | ACCESS USHER | ACCESS USHER | ACCESS

U

Usher Access were the hero’s of FY23.

Posting a record year in both Turnover and Net profit.

Access were the hero’s of FY23.

Usher Access Usher were the hero’s of FY23.

This teams success came through andprofit.

Posting ainrecord yearsecuring in both and Net profit.

Posting a record year both Turnover andTurnover Net delivering a number of highly specialised projects which required their expertise at came some premium This teams success through This teams success came through securing and securing and pricing. delivering a number of highly specialised projects delivering a number of highly specialised projects

$

which their expertise at some premium which required theirrequired expertise at some premium One stand out achievement was the installation of pricing. pricing.

Australia’s largest ever QuickDeck scaffolding system 3,000m2 hanging deck, of a major One stand out achievement was the One stand out achievement waspart the installation ofinstallation of refurbishment for ever the Visy Recycling Centre.

Australia’s largest ever QuickDeck scaffolding Australia’s largest QuickDeck scaffolding

0M

system 3,000m2 part of a major system 3,000m2 hanging deck,hanging part of adeck, major This award winning system provided a 40% increase refurbishment for the Visy Recycling Centre. refurbishment for the Visy Recycling Centre. to installation time over conventional suspended scaffolding.

This award winning system provided a 40% increase This award winning system provided a 40% increase installation time over conventional to installationto time over conventional suspended suspended Our team flewscaffolding. out a quick-deck expert from the scaffolding.

Netherlands to train and assist the Usher team with the construction of first as thefrom complex team flew stage out a quick-deck expert from the Our team flewOur out athe quick-deck expert the system is new to the Australian market.

Netherlands to train assist thewith Usher team with Netherlands to train and assist theand Usher team the of construction of the firstcomplex stage as the complex the construction the first stage as the is new to the Australian market. system is newsystem to the Australian market.

0

Turnover FY23

Turnover FY22 Turnover FY23 Turnover FY22 Turnover FY23

Projects FY22

#

Site 5

24

Site 5

#

0

# 20

0

20

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40

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Exp and sign saw Pro

M

Projects FY23

Projects Projects FY22 Projects FY23 Projects FY22 FY23 Site 5

Pro Sign Tho was

$3 .5

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$3 $3 2. .5 5M M

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$$2 $2 1.5 .5 M M

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Subbie 5

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$

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Subbie 5

Office 3

$0 M

Office 3

Turnover FY22

$

Office 3 Subbie 5

#

The one and sec

We stro 100

FY2023

USHER | SIGNAGE USHER | SIGNAGE USHER | SIGNAGE

M

0

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Turnover FY22

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3M 4M 4M Projects FY23

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# 0

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20 0 40 20 60 40 80 60 100 80 120100

120

#

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Project delays really impeded the production of our 0 20 40 FY23.

60 80 100 120 Signage business through Project delays really impeded the aproduction oject delays really impeded the production of our yearofinour Though the team achieved record sales, it Signage business through FY23. nage business through FY23. was not reflected through their turnover.

Project delays really impeded the production of our Though the team a record year in sales, it ough the team achieved aachieved record year in sales, itFY23.

Signage business through was not reflected through their turnover. s not reflected through their turnover.

Experiencing program blow outs ofaover 6 months Though the team achieved record year in sales, it Subbie was not reflected turnover. the and in many cases havingthrough already their manufactured 4 Experiencing program outs of overand 6 months periencing program blow outs of over 6 months signs without theblow ability to install invoice.

We Subbie Subbie Experiencing program blow of over 6 months4 andcases insaw many cases having already manufactured the d in many having already manufactured theouts expenses creep up and eat away at our Net Subbie 4 and in many having alreadyWe manufactured the signs without ability to cases install and invoice.

4 ns without the abilitythe to install and invoice.

We Profit. signs without the ability to our install and invoice. We saw creep expenses creep up andat eat away Net Office w expenses up and eat away our Netat sawnews expenses creep upisand away at our Net 7 Profit.The positive seteat to be a major ofit. is that FY24 Profit. one as this division continues to grow in demand toabe a major The positive news is that is setFY24 todelivering beisaset major and whilst backlog of already e positive news is credibility that FY24 The positive news is that FY24 is set to be a major assecured this division continues grow in demand e as thisone division continues to grow into demand works. one as this division continues to grow in demand and credibility whilst delivering aofbacklog of already d credibility whilst delivering a backlog already and credibility whilst delivering a backlog of already secured cured works.

Weworks. look forward to seeing our creative unit rebound secured works.

Workshop strong and return to its profitable structure.

8 We look tolook seeing ourunit creative unit reboundunit rebound e look forward toforward seeing our creative rebound We forward to seeing our creative Workshop Workshop Workshop strong return to its profitable ong and returnand to its profitable structure. strong and return tostructure. its profitable structure.

8

8

Office 7 Office 7

Office 7

8

25

USHER GROUP

USHER | MAINTENANCE USHER | MAINTENANCE

The maintenance team experienced a lot of instability with leadership and staffing and as a result fell short on what we know this business unit is capable of achieving.

Turnover FY22

Turnover FY23

USHER | MAINTENANCE The maintenance team experienced a lot of

We wereinstability lured into a leadership partnership the and as a with andin staffing insurance industry that put out the call result fell short on what we know thisfor business unit is capable of achieving. trades following a major flood event.

Unfortunately it did not yield volume or come We were lured into a partnership in the close to The facilitating the cost of the teams that maintenance experienced a lot insurance industryteam that put out the call forof we geared up under instruction to deliver. instability with leadership and staffing and as a trades following a major flood event.

result fell shortiton what know this business Unfortunately did not we yield volume or come unit is capable of achieving.

Looking close ahead, as the beneficiary of ateams strategic to facilitating the cost of the that

we geared under instruction to new deliver. consolidation andup amalgamation the We were lured into a partnership in the Paintinginsurance & Maintnenance division FY24foris industry that put outfor the Looking ahead, as the beneficiary ofcall a strategic geared up to be the ‘dark horse’ ofevent.

Usher’s trades following a major flood consolidation and amalgamation the new it did not yield volume or come future. Unfortunately Painting & Maintnenance division for FY24 is

$

Turnover FY22

0M

SALARY 2 WAGES 2

SUBBIE 15

SUBBIE 15

SUBBIE 15

26

1.5M

1M

Projects FY22

0M

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0

SALARY

2

0.5M

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$

close toup facilitating cost of the that geared to be thethe ‘dark horse’ ofteams Usher’s we geared up under instruction to deliver. future.

2 Looking ahead, as the beneficiary of a strategic SALARY the new consolidation and amalgamation 2 Painting & Maintnenance division for FY24 is WAGES geared up to be the ‘dark horse’ of Usher’s 2 WAGES future.

Turnover FY23

Projects FY23

Turnover FY22 0.5M 1M

Turnover FY23 1.5M 2M

Projects FY22

Projects FY23

0.5M

50

100

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200

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250

0

Projects FY22 50 100 150

Projects FY23 200 250 300

0

50

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#

100

150

250

300

300

FY2023

MANAGEMENT PRACTICES Over the past 5 years we have transformed the way we work by focusing on systemisation so that multiple systems work together to scale our business more efficiently.

We now have the tools in place to get things completed quickly and effectively as possible.

Usher Hub Fully integrated centralised storage & collaboration

Marketing

ERP Oracle

A fully integrated Marketing & Campaign Platform

Manage business administration and finances

Usher Academy

Usher Scheduler

A complete modular training management system

Manage and Schedule people more effectively

Measure Projex

Invoicing Stampli

Measure projects to a high level of accuracy

Accounts Payable automated system integrated to Oracle

Paint Projex A complete cloud-based project management system

27

USHER GROUP

MARKETING STRATEGY ARKETING MARKETING MARKETING MARKETING MARKETING STRATEGY STRATEGY STRATEGY STRATEGY STRATEGY

We want our brand to be synonymous with sustainability, the environment and best quality We strive to with make the Usher the benchmark within want e synonymous our We brand want We Wewant our with to want be brand our sustainability, our synonymous brand brand to practice. beto synonymous tobe be with the synonymous synonymous environment sustainability, with sustainability, with and the sustainability, sustainability, best environment theGroup environment the the and environment environment best and best and and best bestthe quality practice.

We strive totomake the Usher Group the within the We quality strive practice. to quality make quality the We practice.

Usher strive practice.

Group We to make strive We the the to strive benchmark make Usher the make Group within Usher the the Usher Group the benchmark Group the benchmark within thebenchmark benchmark thewithin within the industry. the industry. industry. industry. industry. industry.

GEOGRAPHICAL GEOGRAPHICAL GEOGRAPHICAL GEOGRAPHICAL GEOGRAPHICAL GEOGRAPHICAL AUDIENCE AUDIENCE AUDIENCE AUDIENCE AUDIENCE AUDIENCE

CONTENT PILLARS

CONTENT CONTENT CONTENT CONTENT CONTENT PILLARS PILLARS PILLARS PILLARS PILLARS

BRAND BRAND BRANDBRAND BRAND BRAND POSITIONING POSITIONING POSITIONING POSITIONING POSITIONING POSITIONING

28

FY2023

USHER MEDIA When it comes to creating content, we promote the active engagement of our team to capture and take pride in who we are and the work we do.

29

USHER GROUP

USHER BRANDING USHER BRANDING BRANDING USHER USHER BRANDING NDING

The Usher Group recognises the value of brand equity for our clients, community TheUsher UsherGroup Grouprecognises recognisesthe thevalue valueof ofbrand brandequity equityfor forour ourclc The and Usher cultureGroup within the business. recognises the and value of brand equity for our clients, community andculture culture within the business. within the business. ue of brand The equity for our clients, community We look for every to maximise our exposure and communicate our and culture withinopportunity the business.

Welook lookfor forevery everyopportunity opportunityto tomaximise maximiseour ourexposure exposureand andco co We message.

We look for every opportunity tomessage. maximise message. our exposure and communicate our ximise our exposure and communicate our message.

30

FY2023

CUSTOMER SERVICE CUSTOMER SERVICE

The Usher Group has always modelled the business around great customer service. We want every customer to have an amazing experience and we try to move beyond just providing a service, instead we look to anticipate a customers' problems and focus on creating a winning experience to help us stand out from the competition.

The Usher Group has always modelled the business around great customer service. We want every customer to have an amazing experience and we try to use this feedback to gain an Customer Feedback Our aSignage manufacturing move beyond just providing We a service, instead we look to anticipate insight on what’s working well The Usher Group understand the facility boasts customers' problems and focus on creating a winning experience to help us the latest and what should be done to important role that technology and equipment. customer stand out from the competition. make the experience better. In feedback plays in the business. situations where we have This is why we have put in place Laser cutter – Very quickly and We use thisless feedback gain an Customercustomer Feedback survey Our cost Signage manufacturing performed than to adequately, an automated effectively, cuts high quality, The Usher Group understand the insight on what’s working well facility boasts the latest an official non-conformance is process that is sent out to every complex designs. and what should be done to important role that customer technology and equipment. raised, theexperience issue is investigated, customer onceplays a project make the better. In feedback in the is business. actionwhere planswe completed.

CNC – Versatile robotic are put in placeLaser situations have This is why we have put in place and cutter – Very quickly and machine various to tooling rectify the problem.

Once less than adequately, an automated customer survey toperformed costsuited effectively, cuts high quality, an officialwe non-conformance is process that feedback is sent out to complex designs.

The survey seeks in every rectified, materials. look to implement raised, the issue is investigated, customer once a of project is relation to a number solutions and processes to and action plans are put in place completed.

CNC – Versatile robotic machine important elements including minimise the issue reoccurring in Large format digital printing suited to tooling various to rectify the problem. Once workmanship, safety, the future. sprays ink onto the chosen The survey seeks feedback in materials. rectified, we look to implement communication, materials to quickly produce relation to a and number of solutions and processes to satisfaction.

There is an internal quality impeccable Signage Division important elements including minimiseManufacturing the issue reoccurring in Large formatprints digital with printing workmanship, the future. sprays ink onto chosen process in place to safety, manage low detail and the accuracy.

What many people may not and scoringcommunication, responses and also a know is that we operate a state- materials to quickly produce satisfaction. There is an internal quality prints with impeccable Signage Manufacturing Division process to communicate great of-the-art signage Metal fabrication – design and process in place to manage low detail and accuracy.

What many people may not manufacturing plant near our responses back to the teams. specialised fabrication of metal scoring responses and also a know is that we operate a statehead officesignage in Arundel. signage components. process to communicate great of-the-art Metal fabrication – design and Most importantly, the manufacturing plant near our responses back to process the teams. specialised fabrication of metal head office inteam Arundel. signage components.

Our signage provide goes to the top of Ushers Vinyl cutting – industry leading Most importantly, the process customers with the entire management structure, vinyl contour cutting technology.

Our signage team provide goes to the top of Ushers Vinyl cutting – industry leading experience.

From a complete involving input from our customers with the entire management structure, vinyl contour cutting technology. design service to manufacturing Founder Theodore.

Spray booth – customised to suite experience. From a complete involving input from our a variety of applications. and finally installation. design service to manufacturing Founder Theodore.

Spray booth – customised to suite and finally installation.

a variety of applications.

31

USHER GROUP

VIRONMETNAL ENVIRONMETNAL ENVIRONMETNAL ENVIRONMETNAL ENVIRONMETNAL ENVIRONMETNAL ENVIRONMETNAL ENVIRONMETNAL ENVIRONMETNAL ENVIRONMETNAL PRACTICES PRACTICES PRACTICES PRACTICES PRACTICES PRACTICES PRACTICES PRACTICES PRACTICES PRACTICES ENVIRONMETNAL PRACTICES

bal al global al ncertainty, uncertainty, warming uncertainty, uncertainty, global and Inthe global the extreme warming midst global In warming the warming weather, midst warming global and and and extreme of uncertainty, the global extreme and extreme role extreme weather, uncertainty, ofweather, weather, global weather, the the warming role the global role role the of warming of role of and of extreme and extreme weather, thethe role the of of role of global uncertainty, In the In midst Inglobal the midst global of midst global ofof warming global of uncertainty, global uncertainty, and uncertainty, extreme global global weather, warming global warming warming the and role and extreme and of extreme extreme weather, weather, weather, theweather, the role role of role of more eng siness ng ore sustainable more sustainable sustainable practices business sustainable business business is business in more achieving business practices important practices in practices achieving practices more is more than is is sustainable more more ever. is important more important sustainable important important business than than than ever. business practices than ever. ever. ever. practices is more is important more important than ever. than more business sustainable in achieving business more practices sustainable is more business important practices than isever. more than ever. business business in achieving in achieving more more sustainable sustainable business business practices practices is more isimportant more important important than than ever. ever. ever. p eadership sroup has has taken taken has taken a taken taken clear role aThe aclear clear in leadership The clear leadership leadership Usher leadership The Group role Usher role role inhas practices, has environmental in Group role in environmental taken environmental in has environmental aclear taken clear practices, leadership apractices, practices, clear practices, leadership byrole role by by environmental role in environmental practices, by by by roup has Usher aa environmental clear Group leadership has taken role in ataken clear environmental practices, role inbyrole environmental by practices, bypractices, The Usher Group has aleadership clear leadership in environmental practices, The Usher Group taken aby leadership inin environmental practices, by high establishing ambitions establishing establishing establishing in high its high high ambitions own high ambitions ambitions areas ambitions in of establishing its operation. ininits own its establishing in own own areas its own areas own areas establishing ofareas areas operation. of high of operation. operation. of ambitions operation. high its own in its areas own areas operation. of operation. high ambitions inambitions its areas ofareas operation. establishing high ambitions in own its own of operation. establishing high ambitions ininown its areas ofofoperation. establishing high ambitions in its of operation.

In the midst of global uncertainty, global warming and extreme weather, the role of business in achieving more sustainable business practices is more important than ever.

The Usher Group has taken a clear leadership role in environmental practices, by A number of commitments and initiatives, Corporate Corporate Responsibility Responsibility ACorporate number of commitments A number AAnumber number and Aof number commitments initiatives, ofofcommitments commitments of commitments commitments andand initiatives, andinitiatives, initiatives, and A initiatives, number commitments andand initiatives, Ainitiatives, number A number ofof commitments of commitments initiatives, initiatives, A number of and orporate Corporate Responsibility Responsibility Responsibility A number of commitments and and initiatives, establishing high ambitions in its own areas of operation. include: include: include: include: include: include: include: include: include: include: include: to to tocontinues to ngoing our ng ngoing efforts ongoing Theefforts efforts Usher efforts The Group Usher continues Group ourongoing ongoing ourefforts efforts ongoing to to our he The Usher ongoing The Usher Group Usher efforts Group Group to continues continues our continues our ongoing our ongoing efforts efforts totoefforts to mployees oyees our mployees employees protect and and and our and planet, support our employees and Implementing protect recycling our Implementing planet, Implementing Implementing and support Implementing waste recycling our recycling recycling employees recycling and and waste and and waste waste and waste Implementing Implementing recycling recycling andand waste and waste rotect our planet, support our employees and our protect employees protect our and planet, our planet, support support our Implementing employees our employees and recycling and and Implementing waste Implementing Implementing recycling recycling recycling and and waste waste waste Corporate Responsibility A number of commitments and initiatives, ur ss iness siness business communities, and govern our business management communities, programs management and management management across govern management our programs our facilities. programs programs business programs across across across our across our facilities. our facilities. facilities. our management facilities. management programs programs across our across facilities. our facilities. ommunities, and and govern our business r business communities, communities, and govern govern our business management our business programs across management management our facilities. management programs programs programs across across our across our facilities. facilities. our facilities. include: responsibly. responsibly.

Eliminating Microplastics Eliminating Eliminating Eliminating using Eliminating Microplastics systems Microplastics Microplastics Microplastics like using using using systems using systems systems like systems Eliminating like likeMicroplastics like Eliminating Microplastics Microplastics using systems using like systems esponsibly. responsibly. responsibly.

Eliminating Microplastics using Eliminating Eliminating systems Eliminating like Microplastics Microplastics using using systems using systems systems like like like like to The Usher Group continues our ongoing efforts protect our planet, support our employees and Implementing recycling and waste Washbox.

Washbox.

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Washbox. communities, and govern our management programs across our e umber place a anumber number The number Usher ofUsher ofThe Group of has inhas place anumber of Usher Group put innumber place a number of Transitioning end users Transitioning Transitioning Transitioning to digital Transitioning end users end users users end to digital users totodigital digital to digital digital Transitioning Transitioning endend users end digital users tofacilities. digital has put in place aend of he Usher Group has put input place a number of business place The aaof The Usher number Group of Group has put in place a number of Transitioning end users to Transitioning Transitioning Transitioning end end users users to users digital totodigital to digital responsibly.

Eliminating Microplastics using systems like ainable sustainable nable le targets targets including achieving sustainable targets including achieving sustainable communications instead communications communications communications of paper. communications instead instead instead ofinstead instead paper. ofofpaper. paper. ofcommunications paper. communications communications instead paper. of paper. including achieving sustainable argets including achieving sustainable sustainable targets including achieving sustainable communications of paper. communications communications instead instead of instead paper. ofofinstead paper. of paper.

Washbox. ural of tural natural resources, management, resources, resources, efficient ofand natural resources, management, efficient use of natural resources, Support andefficient recognise Support Support companies Support Support and recognise and recognise recognise and recognise companies companies companies companies and and Support and and Support recognise and recognise companies companies andand and management, use of use natural of natural resources, resources, management, efficient use ofuse natural resources, fresources, natural management, resources, efficient Support and recognise companies Support Support and Support and and recognise and recognise recognise companies companies companies and and The Usher Group has putand in place a number of and Transitioning end users to digital achieving and ving hieving achieving reducing waste generation and achieving reducing waste generation and achieving suppliers making progress suppliers suppliers suppliers on suppliers making sustainability. making making progress making progress progress on progress sustainability. on onsustainability. sustainability. on sustainability. sustainability. suppliers suppliers making progress making progress onpaper. sustainability. on sustainability. reducing reducing waste waste generation generation and and achieving achieving educing waste generation and achieving nd achieving suppliers making progress on suppliers suppliers suppliers making making making progress progress progress on sustainability. on sustainability. on sustainability. targets including achieving sustainable communications instead of management, efficient use natural resources, Support and recognise ment ent agement of environmentally chemicals of environmentally of chemicals chemicals of chemicals chemicals sound management environmentally sound management chemicals Encourage recycling Encourage in Encourage Encourage the workplace Encourage recycling recycling –chemicals recycling in from the ininof the workplace the in workplace workplace the Encourage workplace – from Encourage – –from from from Encourage recycling recycling inthe the workplace in the workplace from environmentally sound sound management management ofofof chemicals of chemicals nvironmentally sound management of recycling chemicals agement of Encourage recycling in the workplace Encourage Encourage ––recycling from recycling recycling in the in workplace incompanies workplace the workplace – and from – –from – from– from reducing waste generation and achieving suppliers making progress on sustainability. and reducing their release. and reducing their release. paper, plastic and e-waste paper, paper, paper, plastic in paper, plastic the plastic and office, plastic and e-waste and to e-waste e-waste and in e-waste the in in the office, the in office, office, the to paper, office, to to plastic to paper, and plastic e-waste and in e-waste the office, in the to to and reducing their release.paper, plastic and e-waste in nd and reducing reducing theirtheir release. release. paper, the paper, office, plastic paper, plastic toand plastic and e-waste and e-waste e-waste in the in the office, in office, thetooffice, to office, to environmentally sound management of chemicals Encourage recycling in the workplace – from larger initiatives tolarger eliminate larger larger initiatives larger initiatives emissions initiatives initiatives to eliminate to or toeliminate eliminate to eliminate eliminate emissions emissions emissions emissions or larger or or initiatives initiatives orlarger initiatives toeliminate eliminate to emissions eliminate emissions emissions or or or larger initiatives to larger emissions larger initiatives larger or initiatives to eliminate to to eliminate emissions emissions or or and reducing their release. paper, plastic and e-waste in the office, to able practices ractices ices Our practices and and goal and is and adopt sustainable practices and Our goal issustainable to adopt sustainable practices and harmful chemicals harmful in the harmful harmful supply chemicals harmful chemicals chemicals chain. chemicals inand the ininthe supply the in supply supply the chain. supply chain. chain. harmful chain. chemicals harmful chemicals in the supply in the chain. supply chain.

Our goal goal isadopt toto isadopt to adopt sustainable practices practices and Our goal is to sustainable practices and bleOur practices and harmful chemicals in the supply harmful harmful chain. harmful chemicals chemicals chemicals in the in the supply in supply the chain. supply chain. chain. larger initiatives to eliminate emissions or integrate sustainability integrate sustainability into our everyday work veryday everyday day ourintegrate everyday work Focus work work on work creating an Focus environment Focus into on our Focus creating on on everyday creating creating on for an creating environment work an anwork environment environment an environment environment for for Focus for oncreating Focus creating an creating environment an for environment for for for ntegrate integrate sustainability sustainability sustainability into into our everyday our everyday work our everyday work our everyday Focus on work creating an Focus Focus on for Focus creating on on creating anon environment an environment an environment for Ourinto goal isFocus to adopt sustainable practices and for harmful chemicals in the supply chain. integrate sustainability our everyday work Focus on creating anbe environment for practices. practices. employees to be themselves, employees employees employees employees thrive to be tointo to themselves, and be be themselves, to make themselves, be themselves, themselves, thrive thrive thrive and thrive and make and employees make make and make employees to be themselves, to themselves, thrive and thrive make and make practices. practices. ractices. employees to be employees thrive employees employees and tomake be to themselves, be tothemselves, be themselves, thrive thrive and thrive and make and make make practices. employees to be themselves, thrive and make a difference. a difference. a adifference. difference. difference. difference. a difference. aa difference. a difference. a adifference. a difference. a difference.

32

FY2023

CITIZENSHIP CITIZENSHIP We aim to make a positive difference within the communities in which weto operate and support the causes closethe to our hearts. We in arewhich proud We aim make a positive difference within communities that many our employees play an active in supporting and we operate and of support the causes close to ourrole hearts.

We are proud delivering this aim, through volunteering, charitable donations that many of our employees play an active role in supporting and and fundraising. We also work with our service partners and customers to delivering this aim, through volunteering, charitable donations and combine our resources in order to make a greater impact. fundraising. We also work with our service partners and customers to combine our resources in order to make a greater impact.

Usher Love

Usher Community

Usher Cup

Usher In Cup 2024 we are back and bigger than ever! We have so to make a sustainable lasting company guided by the wesupport are back and We recognise we wish The Group is a family much pledged to us impact that as aniforganisation, we Usher principle to always help others.In 2024 bigger than from ever!the Weindustry have so and to make a sustainable lasting company guided by the already need to contribute to much support pledged to us impactcharities as an organisation, to always help others. the community. that have a we similarprinciple We have always been known for our commitment to community already from the industry and need toethos. contribute to With Snapper Rocks locked in service andbeen this became even the community. charities that have a similar We have always known for Through the Usher Love to be hosting us again, it is no more apparent during the ethos. our commitment to community program, we support manyservice surprise that many new clubs pandemic, with our continued With Snapper Rocks locked in and this became even important charities.

Corporate are wanting to participate community service programs to be hosting us again, it is nonext Through the Usher Love more apparent during the philanthropy is many an important year.that many new clubs whilstwith having adapt to a new surprise program, we support pandemic, ourto continued component of everyone in the landscape.

Our team members are wanting to participate next important charities. Corporate community service programs business, and we encourage time to and to year.The exciting four-day surfing philanthropy is an important whilstdonate havingtheir to adapt a talents new our employees to be a part of event will now showcase serve those in need, especially component of everyone in the landscape.

Our team members the solution. amateur surfers and emerging in the local Gold Coast The exciting four-day surfing business, and we encourage donate their time and talents to community. pros from clubs across event will now showcase our employees to be a part of serve those in need, especially It has always been a strong Australia and Internationally. amateur surfers and emerging the solution. in the local Gold Coast Proudly supporting belief of the Vairaktaris family community. pros from clubs across organisations like The Village that you should give to those The lead up to the event has Australia and Internationally.

It has always been a strong School, Currumbin Wildlife who don’t have much, as been fuelled by the hugely Proudly supporting belief of the Vairaktaris family successful Usher Cup Golf Day. Hospital, Friends with Dignity, kindness and generosity can organisations like Minds, The Village that you should give to those the event has & its With up 144to players the event The Healthy Gold CoastThe lead change the lives of many.

School, Currumbin Wildlife who don’t have much, as been fuelled by the hugely sponsors raised over $35k in Hospital Foundation, Serving Hospital, kindness and generosity can successful Usher Cup funds towards the Golf 2024Day. event.

Our Friends People, with PCYC,Dignity, Volunteering The Healthy Minds, Gold Coast change the lives of many.

With 144 players the event & its Gold Coast, Arcadia College and Hospital sponsors raised over $35k in TheFoundation, Good HumanServing Factory.

Our People, PCYC, Volunteering funds towards the 2024 event.

Gold Coast, Arcadia College and The Good Human Factory.

Usher Love UsherThe Community We recognise that if we wish Usher Group is a family

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USHER GROUP

CULTURE & WELLNESS The foundation of our success is driven by our culture. We invest so much of our time in both understanding and cultivating the ingredients of a thriving culture.

We believe that it is only by taking the values off the wall and actually living them, that we can say we have a strong culture.

Our f ocus is on ensuring our leaders create culture, which drives our behaviours, and it is those positive behaviours that produce the results.

Weekly

YOGA Class

Weekly

USHER ACADEMY

In-house T&D

Site

BBQ SPIT Monthly

Monthly

SOCIAL CLUB Events

Corporate

EVENTS

Golf Days etc.

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FY2023

SIGNIFICANT ACHIEVEMENTS Usher Groups strong market position, expansion opportunities, and customer retention all point to the potential for it to meet its long-term goals for revenue and sustainability.

Whilst the 2023 results were impacted by a number of economic factors, through intensive planning, re-strategising and staff repurposing, the outcome is looking extremely positive. We have narrowed our focus and strengthened our foundations to position ourselves for the next phase of strategic growth.

Six Years A Hostage

Master Painters of the Year

Usher Cup 2023

Usher Ticketed Event

2022 Overall Winner

International Event

SCA Business of the Year

GC Business of the Year

#Top 100 Women

2021 Strata Services Winner

2019 Supreme Winner

3 x Usher Superwomen

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USHER GROUP

COMPANY HISTORY

36

FY2023

2022 OVERVIEW

37

USHER GROUP

STRATEGIC PARTNERSHIPS

38

FY2023

FY23 Saw change at at Baxta Baxta with with the the s aw significant change retirement of founding General General Manager, Manager Bob Bob Matthews after nearly a decade of service service to to the the business. business. Bob Bobleft left large shoes to fill but assisted assisted in in the the transition transition to to new new Todd Spackman.

Spackman.

General Manager, Manager Todd Financially Baxta had a tough tough year year recording recording aa $31,000 $31,000 net loss on the back of lower-than-expected lower-than-expected revenue revenue numbers due to project delays delays and and not not being being able able to to convert some tougher Tier 1 project opportunities.

Tier 1 project opportunities.

Increased wage costs resulting from the the transitioning transitioningof of resulting from the GM role also adversely adversely affecting affecting the the net net result. result.

Positively, Baxta Baxt maintained its presence in the market as a known disrupter to the market leading Dulux brand securing supply to large scale projects such as Dawn by Mosaic, Infinity Apartments and Capital Court – Homecorp.

In March 2023, Baxta renewed its supply agreement with Wattyl Paints securing supply for the next 3 years.

This partnership remains the foundation of Baxta’s ability to supply and having this agreement secured provides certainty for the future of the business.

In FY24 Baxta will focus on delivering profitable growth through the continued support of the Usher Group while being as disruptive as possible for our competitors on the ground. Baxta will also continue to build our brand recognition through increased presence on social media platforms with the support of Luckyboy media.

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USHER GROUP

In 2023, the Usher Cup welcomed surfers from seven international teams representing the USA, Japan, Indonesia, i while New Zealand, and Hawai Hawaii, introducing the inaugural World Club Challenge event to the contest schedule.

The Usher Cup continues to grow year on year, attracting the best of Australia’s Boardriders club’s along with a selection of international teams.

We also just hosted our inaugural Usher Cup Golf Day at Emerald Lakes through August which saw 150 players/sponsors raising over $30k for our chosen charities in the lead up to the main event in January.

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USHER GROUP

ve Usher Groups Washbox equipment has made a massive ct in how the construction industry manage their impact waste waste production.

Sustainability Sustainability is a deeply complex issue for the industry, particularly particularly as there are stringent regulations on health and safety. Amongst the biggest issues are changes to EPA laws, where breaches attract much higher penalties than ever before.

Every day, construction sites in Australia generate 2 ut drums rums set million litres of pollution. T Traditional wash out up on sites drain into the sewer system. Water plants are not designed to treat hazardous waste and pollutants not end up passing through the process. The pollutants that end aren’t captured often pass through to agriculture and directly to our food. All remaining waste water ends up in our oceans, rivers and waterways, threatening the ecosystem.

To minimise the negative environmental impact and reduce the amount of water used on construction sites during cleaning, we have introduced Washbox to numerous projects across Australia and Internationally.

Washbox is the most productive wash system on the market today.

WASHBOX is a complete site washout solution: Washbox incorporates the latest technology in wash water recycling.

It is a standalone modular system and can be placed anywhere on site with minimum effort.

It is a closed looped wash solution with no plumbing required.

Wash without waste - all the wash water recycled within the system.

Easily maintained – the system is monitored remotely.

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FY2023

Usher Groups PaintProjex has been a pivotal tool in the success of our sales and estimating team.

A revolutionary software that has not only changed the way we do business but is fast approaching a ‘go-to-market’ milestone that will help raise the industry standards.

PaintProjex helps with pricing, planning, productivity, budgets, scheduling, and reporting.

It ties together a multitude of business processes and enables the flow of data between them instead of typical disjointed systems.

PaintProjex is currently unmatched in the industry as a central system to manage a Painting/Trade business.

Key Features include: Project Planning Measuring / Pricing Quote Generation Budget Setting Scheduling WHS templates Quality management Templates Document Automation Reporting

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USHER GROUP

Usher Group has played a pivotal role in the success of Taris Property Group.

“We are in the business of delivering dreams”.

Founded by Theodore Vairaktaris, the Taris Property group construct fully automated habitable spaces which blend luxury with functionality. Each project is inspired and designed with all the fine details that our clients appreciate.

Taris Property Group has both successfully completed developments and has a healthy pipeline of future projects.

Key Projects Include: 144 Tallebudgera Dr | Most viewed property in QLD 2019 on RealEstate.com 49 Leda Drive | 24 Commercial Premium Warehouses in Burleigh Falls Creek Private Residences | Future Project in planning/approval stage New Usher Group HQ | future Project in planning/approval stage Varsity Commercial Warehouse Development | Future Project starting 2024

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FY2023

FUTURE PLANS Aside from maintaining our position as one of Australia's largest painting applicators, the Usher Group have put in place a strategic plan to focus on maximising existing relationships by growing the rest of our core services which works hand-in-hand with our goal to position ourselves as the leading trade solutions-based company.

This will increase the strength of our relationships, turnover and profitability without demanding such a heavy load of resources to manage our safety, quality and environmental systems effectively.

We also want to be recognised as an employer of choice with an awesome place to work an d for our customers to know that we are a people focussed organisation.

Key to Success The successful culture of the business commenced from the conception of the business 22 years ago this year.

Moving forward with the same success the company has further developed many inhouse systems and processes including, leadership and culture programs and training to upskill team members.

To refocus the business, we recently setup committees within the company headed by company leaders and supported by committee members.

The 6 Committees consist of:

Systems – Reviewing and Growing our Brand Equity developing internal company systems for efficiency and As we narrow our focus and reliability look to maximise our existing relationships in SEQ the Culture – Working within the decision was made to invest in company to grow and the role of a Corporate strengthen the company Partnerships Manager and culture increase the efforts around our marketing strategies and Sustainability – Planning and community engagement. forecasting of revenue and expenditure As a result our brand equity is stronger than ever and we are Growth – Innovative being seen adding value across all major industry events as planning and review of well as hosting our very first market demand to ensure Usher Ticketed events, which future growth have brought together key Safety – Review of all safety industry leaders, suppliers and requirements, legislation and partners. protocols making sure we are ahead of the game HR – Making sure our company employees have the best possible information and resources

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THANK YOU FOR READING THANK YOU FOR READING

WE LOOK FORWARD TO WORKING WITH YOU AS YOUR PROJECT PARTNER IN 2024 WE LOOK FORWARD TO WORKING WITH YOU AS YOUR PROJECT PARTNER IN 2024