Accordant Group Limited · NZX:AGL
Accordant — Investor Presentation (March 2026)
33 slides from Accordant's investor presentation, Mar 30, 2026
Slide 1: AGL Equity Raise Investor Presentation
accordant’ AGL Equity Raise Investor Presentation | 30 March 2026
Slide 2: Agenda
Agenda Section Item Page Introduction 3 1 Accordant Overview 7 2 FY26 Performance & Outlook 12 3 Rights Offer Overview 18 4 New Debt Facility 24 5 Key Risks 26 6 Disclaimer and Important Notice 28 accordant
Slide 3: Introduction
Introduction Accordant (AGL) is seeking to raise ~$6.7M via a pro rata renounceable rights offer Apro-rata rights offer seeks to materially reduce debt outside of normal trading, and so reduce the interest burden on AGL over time with the expected improvement to AGL’s trading environment Majority sh
Slide 4: The capital raising
The capital raising Accordantis raising up to ~$6.7 million in a renounceable rights issue Renounceable Rights Issue Structure Shareholder support : : Key conditions : Up to approx. $6.7 million, with a minimum raise of $5 million Eligible shareholders will have the right to subscribe for 1.269 new
Slide 5: Accordant's current state
Accordant’s current state Diversified and experienced operator with strong market share Established in 1995 and listed on the NZX in 2005, AGL affords a stable of well-established national brands, each with market leading positions providing blue and white collar hiring and people solutions across t
Slide 6: Shareholder Resolutions / Implications of Capital Raise Failure
Shareholder Resolutions/ Implications of Capital Raise Failure The capital raising requires, and is conditional on, shareholder approval Approval by shareholders by way of ordinary resolution is required under (Resolution 1): + ule 7(d) of the Takeovers Code to approve the issuance of up to 31,431,9
Slide 7: Accordant Overview
1 accordant® Accordant Overview
Slide 8: Group Overview
Group Overvie Accordant’s businesses are leaders in the sect only staffing provider listed on the NZX, and tl stretches over 35 years. Working across almo: every skill level, we ensure thousands of New companies are ready to put their best foot fo 1,289 Organisations partnered with to deliver recrui
Slide 9: Blue Collar Segment Overview
Blue Collar Segment Overview * Steady earnings growth in the last two years * Large branch network with nationwide footprint delivering at scale for regional and metropolitan New Zealand + Industry-leading health & safety management capability rates highly in clients’ supplier selection criteria ANF
Slide 10: White Collar Segment Overview
White Collar Segment Overview * Revenue trends of the last two years influenced by recessionary conditions, public sector austerity and reduction in private sector margins * Executive recruitment has been robust through the recession + Multiple revenue streams (permanent, contingent offerings and co
Slide 11: Board & Management Team
Board & Management Team Management Team Jason Cherrington, Chief Executive Officer Rod Hyde, Chief Financial Officer Shereen Low, General Manager — Corporate Services Fleur Board, General Manager — AWF Kerrie Gregory, General Manager — Madison & Absolute IT Carrie Hobson, Founding Partner — Hobson L
Slide 12: FY26 Performance & Outlook
2 accordant®& FY26 Performance & Outlook
Slide 13: Our outlook
Our outlook Over the next 18 months, AGL is expected to operate in a gradually improving but uneven labour market. Economic indicators point to a recovery that is gaining traction, with rising consumer and business confidence, the services sector returning to expansion, and job advertising volumes e
Slide 14: FY26 estimate & FY27-FY28 outlook
FY26 estimate* & FY27-FY28 outlook FY26 estimate* FY27-FY28 outlook Following a slowing of year-on-year revenue decline, AGL expects positive earnings for FY26 along with an improvement in cash from operating activities In the blue collar segment, the key metric of Temps per Day (TPD) shows year-on-
Slide 15: Group EBITDA (Pre IFRS16)
• 10.0 8.0 6.0 • 4.0 • 2.0 0.0 • -2.0 FY26 FY27 FY28 FY22 Actual FY23 Actual FY24 Actual FY25 Actual Estimate Estimate Estimate Group EBITDA (Pre IFRS16) 8.8 6.6 3.5 -1.0 1.3 3.2 6.9
Slide 16: FY26 segment estimates
150 150 100 100 $ 'M $ 'M 50 50 FY25 FY26 FY27 FY28 FY25 FY26 FY27 FY28 8 8 6 6 4 4 $ 'M $ 'M 2 2 FY25 FY26 FY27 FY28 FY25 FY26 FY27 FY28 -2 -2
Slide 17: FY26-FY28 estimates & key assumptions
FY26-FY28 estimates & key assumptions FY25 Actual ($m) Total Revenue 165.2 Total EBITDA (Pre IFRS 16) (0.96) Net cash (used in)/generated from operating activities (0.65) Key Assumptions + Current run rates have been reviewed and adjusted for gradual improvement in economic conditions * Blue collar
Slide 18: Rights Offer Overview
3 accordant” Rights Offer Overview
Slide 19: Renounceable Rights Offer
Renounceable Rights Offer The Renounceable Rights Offer seeks to raise up to ~$6.7 million Structure Shortfall Facility Offer Price Committed Participation Existing Shares on Issue Approximate New Shares Offered Total Shares on Issue (at maximum levels of capital raised) ~$6,7 million Eligible share
Slide 20: Rights Offer Take Up Scenarios
Rights Offer Take Up Scenarios The Rights Offer seeks to raise between $5 and ~$6.7 million, depending on take up + AGL will not proceed with the Rights Offer if it does not raise a minimum of $5 million + AGL’s major shareholder, directors and certain senior management have advised that they plan t
Slide 21: Impact on Shareholders
Impact on Shareholders Eligible shareholders will have the right to subscribe for 1.269 new shares for every 1 existing share held on the record date at $0.15 per new share. If Shareholders participate in the rights offer for their full entitlement their respective shareholding will not be diluted.
Slide 22: Net debt outlook FY25-FY28
~ 35.0 35.0 30.0 30.0 25.0 25.0 20.0 20.0 15.0 15.0 10.0 10.0 5.0 5.0 .0 .0 2025 FY25 2026 FY26 2027 FY27 2028 FY28 2025 FY25 2026 FY26 2027 FY27 2028 FY28 ~
Slide 23: Rights Offer Timetable
Rights Offer Timetable Announcement of Rights Offer and the Special Shareholders’ Meeting 30 March 2026 Deadline to return proxy forms 30pm (NZT) on 14 April 2026 Special Shareholders Meeting held 16 April 2026 If Shareholder Approval is Obtained Rights trading opens on NZX 17 April 2026 Record Date
Slide 24: New Debt Facility
ZL accordant® New Debt Facility
Slide 25: Extended Banking Facility Agreement
Extended Banking Facility Agreement Subject to a successful Rights Offer equity raise, AGL has entered into a binding agreement for an extension of current Banking facility agreement. Key terms include: + Facilities extended to April 2028 * Covenants based upon the following: * Quarterly tested mini
Slide 26: Key Risks
5 accordant® Key Risks
Slide 27: Key Risks
Key Risks Investments in shares, including AGL shares as contemplated by the Rights Offer, have risks. The key risks of investing in AGL shares are: Timing and degree of economic recovery Debt Level Majority Shareholder AGL’s biggest risk is the activity in the labour market linked to economic recov
Slide 28: Disclaimer and Important Notice
6 accordant” Disclaimer and Important Notice
Slide 29: Disclaimer and Important Notice
Disclaimer and Important Notice NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE ORIN PART IN OR INTO THE UNITED STATES This presentation has been prepared by Accordant Group Limited (the Company or AGL) in relation to an offer of new shares in the Company (New Shares) by way of a 1.269-for-1 p
Slide 30: Disclaimer and Important Notice
Disclaimer and Important Notice No United States offering: This presentation is not for release, publication or distribution, directly or indirectly, in or into the United States. This presentation does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in the Un
Slide 31: Disclaimer and Important Notice
Disclaimer and Important Notice Forward looking statements: This presentation contains certain forward-looking statements such as indications of, and guidance on, future earnings and financial position and performance. Forward: looking statements can generally be identified by use of words such as ‘
Slide 32: Disclaimer and Important Notice
Disclaimer and Important Notice Non-GAAP financial information: This presentation includes certain financial measures that are “non-GAAP (generally accepted accounting practice) financial information” under Guidance Note 2017: ‘Disclosing non-GAAP financial information’ published by the New Zealand
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