New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>EBOS Group (EBO) provided a trading update ahead of its Annual Shareholder Meeting material</li><li>FY23 has started well, with 1Q23 revenue of ~A$3bn and underlying EBITDA of ~A$142m</li><li>The company is tracking broadly in-line with our expectations and appears to be slightly ahead of market expectations, although EBO does note material uncertainties still exist</li></ul>

EBOS Group (EBO) provided a trading update ahead of its Annual Shareholder Meeting materialFY23 has started well, with 1Q23 revenue of ~A$3bn and underlying EBITDA of ~A$142mThe company is tracking broadly in-line with our expectations and appears to be slightly ahead of market expectations, although EBO does note material uncertainties still exist

Ebos Group Ltd

EBOS Group (EBO): Solid Q1 ASM Update