Unaudited 30 June 2020 Year End Earnings Results

Just Life Group - Unaudited Earnings Results for the Year Ended 30 June 2020 The directors of Just Life Group Ltd are pleased to announce the unaudited year end earnings results for the year ended 30 June 2020. Key performance metrics include: o Operating Revenue: Approximately $30.2m; (2019: $33.5m); o Underlying EBITDA (1): Approximately $6.4m; (2019: $6.1m); o Profit before income tax (2): Approximately $3.9m; (2019: $2.6m); o Free cash flow (3)(2): Approximately $4.4m; (2019: $2.8m); o Basic Earnings per Share (2): Approximately 3.0 cents per share; (2019 2.2 cents per share); Note (1): Underlying EBITDA is a non-GAAP measure. Management uses this measure as a key performance indicator and believe it assists stakeholders in assessing the performance of the core operations of the Group. Underlying EBITDA is earnings before interest, tax, depreciation and amortisation and excludes any non-operating and non-recurring items identified in- refer Note (2). Note (2): For the year ended 30 June 2020 non-operating and non-recurring items included the COVID-19 Government Wage Subsidy received of $0.9m and one-off restructuring costs incurred of $0.2m. Note (3): Free cash flow is a non-GAAP measure. It is defined as net cash flow generated from operating activities less net capital expenditure. Management uses this measure as a key performance indicator. The last quarter of the year was dominated by the COVID-19 Level 4 lock down with resulting reductions in revenue from Just Water bottled water delivery and all Hometech revenue derived from building activity. During June 2020 the business was restructured to merge Just Water New Zealand and Hometech into one operating unit. This reflects management's current view of future economic activity in New Zealand with the key objective to ensure maximum efficiencies are derived from the merged business operations. Lynne Jacobs was appointed as Group General Manager and Eldon Roberts remains Group CFO/COO. Chair and CEO, Tony Falkenstein, commented "This is a pleasing result given the unprecedented events that occurred during the last quarter. We have focused and invested in our brands as we transformed the organisation to build resilience for the future. We are now in a position to take up acquisition and merger opportunities and intend to raise capital over the next 12 months to support these activities. Any acquisitions would be planned to be cash flow positive and support an ongoing dividend stream to the shareholders. The previously announced appointment of Phil Norman as an independent director will add to the depth of the board, to assist with the board's growth strategy." Tony Falkenstein Chair and Chief Executive Officer E: TonyF@justlife.co.nz M: +64 21 950 856 Just Life Group is an entrepreneurial company with a suite of brands to enhance the lives of all New Zealanders. Our focus is on healthy lives through the 'Just Water' brand and healthy homes through the 'Unovent', 'Solatube' and 'Hometech' brands. End CA:00357576 For:JLG Type:MKTUPDTE Time:2020-08-07 09:50:39