FY21 Results – Presentation

DeanBanks
Group ChiefExecutiveOfficer
StuartHooper
ChiefFinancialOfficer
CY21 Results
Presentation
23 February 2022
Redefining Service
Excellence

2
This presentation has been prepared by Ventia Services Group Limited (ABN 53 603 253 541) (“Ventia”) in respect of ASX/NZX–listed Ventia (“VNT”).
This presentation is not an offer or invitation for subscription or purchase of or a recommendation of securities. It does not take into account the investment objectives, financial situation
and particular needs of the investor. Before making an investment in VNT, the investor or prospective investor should consider whether such an investment is appropriate to their particular
investment needs, objectives and financial circumstances and consult an investment adviser if necessary.
Information, including forecast financial information, in this presentation should not be considered as a recommendation in relation to holding, purchasing or selling shares, securities or
other instruments in VNT or any other entity. Due care and attention has been used in the preparation of forecast information. However, actual results may vary from forecasts and any
variation may be materially positive or negative. Forecasts by their very nature are subject to uncertainty and contingencies, many of which are outside the control of VNT. Past performance
is not a reliable indication of future performance. Amounts included in this presentation have been rounded off. Certain totals and calculations have been based on information thathas not
been rounded. Any discrepancies in totals and or percentage variances is due to rounding.
DISCLAIMER

ACKNOWLEDGEMENT OF COUNTRY AND MIHI
3
3
Ventia would like to respectfully acknowledge the
Traditional Owners and Custodians of country throughout
Australia and their connection to land, sea and
community. We pay our respect to them, their cultures
and to their Elders past, present and emerging.
He tautokoteahureaingākawa me ngātikanga o ngāIwi
whānuio Aotearoa, me ka kawa me ka tikakao ka Iwi
whānui o TeWaipounamu. / We recognise and celebrate
the culture of manawhenuain Aotearoa and Te
Waipounamu where our teams respect local Iwi and
communities across the country.

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CY21 PERFORMANCE HIGHLIGHTS
Successfully transitioned to life as a listed entity
4
•Safety performance improved with 28% reduction in TRIFR
1
•Outperformance on key prospectus forecasts
oPro forma EBITDA of $379.9m is up $14.1m
oPro forma NPATA of $146.8 is up $7.0m
oHigh pro forma cash conversion of 84.9%, underpins fully franked dividend
•Work in hand up 28% to $16.8b after securing $8.2b of work
•Investmentgrade balance sheet post refinancing
•Navigated COVID-19 (including labouravailability) with minimal business impact
•Absolute emissions reduction of 10% achieved
•Strategy to Redefine Service Excellence launched
1. TRIFR –Total recordable injury frequency rate –calculated as the total number of recordable injuries, divided by hours worked in millions.

5
KEY CY21 FINANCIAL RESULTS HAVE
OUTPERFORMED PROSPECTUS
Pro formaCY21 as at 31 December 2021
1
TOTAL REVENUE
$4,557.4m
1%CY20
1%ONPROSPECTUS
EBITDA
$379.9m
7%CY20
4%ONPROSPECTUS
EBITDA MARGIN
8.3%
0.6 PPTS ON CY20
0.2 PPTSONPROSPECTUS
CASHCONVERSIONRATIO
84.9%
2.1 PPTSCY20
0.2PPTSONPROSPECTUS
WORK IN HAND
$16.8b
28%ON CY20
8% ON PROSPECTUS
(31 July 21)
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NPATA
$146.8m
23%CY20
5%ONPROSPECTUS
1. Pro forma results are non-IFRS measures that are used by Management to assess the performance of the business. They have been calculated from the
statutory measures by adjusting the results for the financial impact of the Broadspectrumacquisition, the IPO and related refinancing.Refer to Page 23-24
for statutory to Pro forma NPATA reconciliation and Pro forma consolidated statements of profit or loss

50%
55%
72%
79%
82%
100%
Aug-21Sep-21Oct-21Nov-21Dec-21Apr 22
Percentage complete
6
Work in hand ($ billions) IT system integration Total Recordable Injury frequency rate
(TRIFR)
DELIVERING ON
OUR STRATEGY
6.00
4.32
CY20CY21
Work in hand up 28% on CY20 and
8% up on prospectus
1
Cross selling is an emerging
opportunity, leveraging the breadth
and depth of Ventia capability
Implementation of a single
enterprise platform drives
innovation
System integration 82% complete,
delivering a 30% saving in IT cost, on
track for completion in April 2022
28% improvement in TRIFR
Driven by our relentless focus on
health and safety -our number one
brand promise
12.5
11.8
13.1
16.8
Dec-18Dec-19Dec-20Dec-21
CLIENTFOCUSEDINNOVATIVESUSTAINABLE
1.Prospectus work in hand as at 31 July 2021

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ChevronAustralia
$1b over 10 years
Awarded Jul 21
Mobilisation Oct 21
AGFMA contract
$1.4b over 5.6 years
Awarded Jul 21
Mobilisation Dec 21
nbn contract–N2P
$400m over 2.5 years
Awarded Jul 21
Mobilisation Jul 21
North East Link
$1.4b over 25 years
Awarded Oct 21
28% INCREASE IN WORK IN HAND
~40% of CY2021
total revenue
generated in regional
and rural areas
400+ project
sites across Australia
& New Zealand
No single state or
territory contributed
more than 24% of
total revenue in CY2021
$8.2b
total work secured
in CY21
$16.3b
of qualified opportunity
in the pipeline
Over the next 12 months

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$6.1b
STRONG PERFORMANCE ACROSS OUR DIVERSIFIED PORTFOLIO
Defence & Social InfrastructureInfrastructure ServicesTelecommunications
Transport
$4.3b
$1.7b$4.7b
Work in hand
Dec-2021
$1.9b
20.4% on CY20
0.2%onprospectus
CY21
pro forma
Total revenue
$1.2b
1.5% on CY20
0.4% on prospectus
$1.0b
23.3% on CY20
1
6.3%onprospectus
$0.5b
6.8% on CY20
2.6%onprospectus
$128.7m
16.8%on CY20
3.5%onprospectus
CY21
pro forma
EBITDA
$118.5m
2.0%on CY20
1.3%onprospectus
$129.5m
25.6%on CY20
1
3.7%onprospectus
$32.5m
29.2%on CY20
2.5%onprospectus
1.CY21 Telecommunications results reflect a lower available market following the completion of initial national fibre builds inAustralian and New Zealand

99
FINANCIAL
RESULTS

4,754.5
4,803.8
4,591.9
4,557.4
4,942.6
3,000
3,500
4,000
4,500
5,000
5,500
CY18CY19CY20CY21CY22
10
354.1
351.5
354.5
379.9
408.6
7.4%
7.3%
7.7%
8.3%8.3%
4%
5%
6%
7%
8%
9%
10%
11%
12%
13%
250
270
290
310
330
350
370
390
410
CY18CY19CY20CY21CY22
FOUNDATIONS IN PLACE TO DELIVER PROSPECTUS
FORECAST
Pro forma Total Revenue ($m)
Pro forma EBITDA and Margin ($m/%)
Pro forma Operating Cash Flow and Cash Flow
Conversion
2
($m/%)
309.8
289.7
308.4
322.7
373.7
87.5%
82.4%
87.0%
84.9%
91.4%
60%
70%
80%
90%
100%
110%
120%
100
150
200
250
300
350
400
CY18CY18CY20CY21CY22
1.CY22 Forecast per Prospectus dated 26 October 2021
2.Operating Cash Flow represents EBITDA plus any non-cash share based payments, less changes in Net Working Capital. Operating Cash Flow
Conversion reflects Operating Cash Flow divided by EBITDA, expressed as a percentage.
100.0
101.5
119.5
146.8
171.8
0
20
40
60
80
100
120
140
160
180
200
CY18CY19CY20CY21CY22
Pro forma NPATA ($m)
1
1
1
1

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INFLATION PROTECTION BUILT INTO WORK IN HAND
Limited exposure to
fixed price contracts
•94%of work in hand
1
has priceescalationsor panelarrangements with ongoing pricing
updates
•Limited exposure to fixed price contracts
•Flexible workforcemodel, with over 15,000 employees and access to a subcontractor
workforce of over 20,000 people
•Labourcosts are largely known and escalations are built into contract pricing
1.Relates to contracts with work in hand over $50 million (89% of Ventia portfolio)
COVID-19 IMPACT
•Navigated COVID-19 in CY21 with minimal financial impact
KEY MARKET CONSIDERATIONS

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DELIVERINGCASHBACKEDPROFITS
Pro forma Cash flow conversion of 84.9%
$ millions, pro forma
CY21CY20
EBITDA379.9354.5
Non cash share based payments7.57.5
Changes in Net Working Capital(64.7)(53.6)
Operating Cash Flow
1
322.7308.4
Operating Cash Flow Conversion
2
84.9%87.0%
Lease payments(72.0)(80.8)
Maintenance capital expenditure(27.0)(15.1)
Growth capital expenditure(9.3)(14.9)
Cash flow before financing and tax214.4197.6
Net financing costs (30.4)(30.4)
Free cash flow before tax and dividends 184.0167.2
Capex targeted to remain less than 1%
of total revenue going forward
Lease payments have reduced 11% due to fleet
and property optimisation
1.Operating cash flow represents EBITDA plus any non-cash share payments, after changes in Net Working Capital
2.Operating cash flow divided by EBITDA expressed as a percentage
Pro forma interest payments have reduced
materially post refinancing
$ millions, pro formaCY21CY20
Total capital expenditure(36.3)(30.0)
Capital intensity
(Total capital expenditure / Total revenue)
0.8%0.7%

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•Final dividend to 31 December 2021 of 1.47 cents per share
(75% of pro forma pro rata NPATA for the period from 19 Nov –31 Dec 2021)
•Payable 6 April 2022
•Final dividend will be fully franked
•Future target payout ratio of 60-80% of NPATA
DividendsPro formaNPATA
1
($ millions)
100.0
101.5
119.5
146.8
171.8
CY18CY19CY20CY21CY22
DELIVERINGDIVIDENDPAYOUTRATIOOF75%FORSHAREHOLDERS
Cash performance supportingourdividend program
1.Net Profit After tax excluding the impact of amortisation of acquired intangibles

INVESTMENT GRADE BALANCE SHEET
Liquidity in place affording financial flexibility
14
31December 2021metrics
Cashonhand$180m
Undrawnrevolvingcreditfacility$400m
Totalliquidity$580m
Termloan$750m
Leaseliabilities$142m
Totaldebt$892m
Netdebt$712m
Total debt facilities $1,150m
Creditrating
S&P:BBB-(stable outlook)
Moody’s:Baa3 (stable outlook)
Covenants
Leverage Ratio <3.25x
(pro forma 1.8x as at 31 Dec 21)
Interest cover ratio >4x
(pro forma 12.6x as at 31 Dec 21)
Pro forma Leverage Ratio 1.8x, as at 31 December 2021
1
2
3
4
CY18CY19CY20CY21
Headroom to
covenant
Pro forma Interest Cover Ratio 12.6x as at 31 December 2021
0
4
8
12
CY18CY19CY20CY21
Headroom to
covenant

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LOOKING
FORWARD

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KEYOPPORTUNITIESFOR CY22 AND BEYOND
Defence and Social
Infrastructure
Infrastructure
Services
TelecommunicationsTransport
Growth in Government spending
including increasing Defence
investment
# 1 provider of defence and base
services in Australia
Growth across core marketsand
positioning to support clients through
the energy transition
# 1 provider of complex environmental
remediation services in Australia
Expansion of existing fixed and
wireless networks, growing pipeline
of new large fibre network projects
# 1 provider of telecommunication
infrastructure services in Australia
Leverage enterprise-wide systems and operating platform
Leveraging digital and data for
smarter asset management across
road networks, motorways & tunnels
# 1 provider of private motorways
and tunnels servicing & maintenance
Continued adoption of EROAD technology for people safety and vehicle efficiencies
Accelerate cross-selling by leveraging enterprise capabilities and regional presence

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HIGHQUALITYANDDIVERSIFIED PORTFOLIO
400+
Project Sites
AVERAGE MAXIMUM
CONTRACT TENURE
1
7+ YEARS
100+ clients
CY21 Total revenue
by contract profile
CY21 Total revenue
by client type
CY21 Total revenue
by geography
Schedule of Rates 75%
Cost Reimbursable 15%
Fixed Price 10%
Public68%
Private32%
1.Maximum tenure of contract including extension options
GEOGRAPHIC
FOOTPRINT
NSW 24%
VIC 20%
QLD 15%
WA 12%
SA 7%
NT 7%
TAS 1%
ACT 1%
NZ 13%
CLIENT BASE

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5.3
64.7
67.7
72.3
6.2
21.1
25.8
22.2
28.7
5.6
6.0
7.8
10.2
FY2021FFY2022FFY2023FFY2024FFY2025F
OUTLOOK SUPPORTED BY STRONG INDUSTRY TAILWINDS
Size and growth of asset base
Outsourcing rates
Population growth
Technology adoption and automation
Environmental regulations
Estimated Addressable Market Size
across Australia And New Zealand ($b)
1,2,3
Demand drivers for Maintenance Services
lTelecommunicationlTransportlInfrastructure Services
lDefence and Social InfrastructurelNew Zealand
CY2021F-2025F
CAGR: 5.5%
62.0
76.9
1.BIS Oxford Economics (2021). Refers to the financial years ended 30 June.
2.Refer to the prospectus for further information on the methodology BIS Oxford Economics used to estimate the addressable market.
3.Numbers presented in current prices (nominal value).

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OUR COMMITMENT TO ASUSTAINABLE FUTURE
ENVIRONMENTSOCIAL
GOVERNANCE
•Committed to Science Based
Targets initiative to set emission
reduction and net zero targets
•100% renewable energy by 2030
•100% EV and hybrid fleet by 2030
•Aligned to HESTA 40:40 Vision
commitment
•40% female participation in senior
management and all employees
•Retain Reconciliation Australia’s
Elevate RAP status
•Compliance with the ASX Corporate
Governance principles and
recommendations
•All significant suppliers compliant
with our supplier code of conduct
•Maintain and improve systems and
processes to prevent modern
slavery within our diverse
businesses & supply chains
OUR ESG TARGETS

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SUMMARY AND CY22 OUTLOOK
CY22 forecast
prospectus numbers,
reaffirmed
•Strongly positioned for success in CY22 and beyond
•CY22 key pro forma prospectus forecasts reaffirmed:
oNPATA guidance of $171.8m
oTotal revenue of $4,942.6m
oEBITDA of $408.6m
oCash conversion of 91.4%
•Positioned tocapitaliseon favourablemarket conditions
•Differentiating through our strategy to Redefine Service Excellence

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QUESTIONS?

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APPENDIX

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STATUTORY NPAT TO PRO FORMA NPATA RECONCILIATION
$ millionsCY21CY20
Statutory NPAT19.528.0
Broadspectrumpro forma adjustments(24.6)(9.7)
Broadspectrumtransaction and integration costs67.549.9
Amortisation32.724.0
Offer-related costs6.9--
Listed public company costs(5.5)(8.7)
Ventia shareholder fee2.53.0
Remuneration changes(3.7)(8.2)
Total operating expense adjustments (pre-tax)75.850.4
Interest expense adjustments107.073.1
Income tax adjustments(71.0)(45.5)
Total adjustments111.878.0
Pro forma NPAT131.3106.0
Amortisation of acquired intangibles (after tax)15.513.4
Pro forma NPATA146.8119.5
•Broadspectrumpro forma adjustments includes NPAT from Broadspectrumfor H1 CY2020
prior to acquisition and excludes the financial performance and gain on sale of APP Corporation
•Broadspectrumtransaction and integration costs excludes transaction and integration costs
relating to the acquisition of Broadspectrumand the sale of APP Corporation
•Amortisation excludes Ventia accelerated amortisation of brands and software not used post
integration
•Offer related costs excludes IPO related costs which were expensed
•Listed public company costs includes incremental costs that are incurred as a listed company
•Ventia shareholder fee excludes Ventia’s previous shareholder fee structure which is no longer
in place following the IPO
•Remuneration changes excludes the previous Executive Incentive Plan and includes Ventia’s
new share-based payment plan which will be implemented in CY22
•Interest expense adjustments excludes costs associated with legacy debt arrangements and
includes interest on the New Banking Facilities
•Income tax adjustments applies a pro forma tax rate of 30%
Commentary

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PRO FORMA CONSOLIDATED STATEMENTS OF PROFIT OR LOSS
$ millionsCY21CY20
CY20 to CY21 %
variance
CY21 prospectus
forecast
Total Revenue 4,557.44,591.9(0.8%)4,501.7
EBITDA 379.9354.57.2%365.8
EBITDA %8.3%7.7%0.6pp8.1%
Depreciation (108.7)(116.1)(6.4%)(104.8)
Amortisation of software (31.1)(37.4)(16.8%)(31.0)
EBITA240.1201.019.4%229.9
EBITA %5.3%4.4%0.9pp5.1%
Amortisation of acquired intangibles (22.1)(19.2)15.3%(23.4)
EBIT218.0181.819.9%206.5
Net finance costs (30.4)(30.4)-(30.2)
Profit before tax 187.6151.523.8%176.3
Tax expense (56.3)(45.4)23.9%(52.9)
NPAT131.3106.023.8%123.4
Amortisation of acquired intangibles (after tax)15.513.415.5%16.4
NPATA 146.8119.522.9%139.8