Coventry : 01/04/2022 - Completion of Acquisitions

ASX RELEASE

Completion of Goudie Holdings Limited and Fraser Coast Bolts and Industrial Supplies acquisitions

1st April 2022

The Coventry Group (CYG) announces today the completion of the acquisition of the business and assets of:

• • Goudie Holdings Limited and NZ Plank Hire Limited ("GHL"); and

• • Fraser Coast Bolts and Industrial Supplies ("FCB")

funded through the Groups' existing debt facility.

Robert Bulluss, Group CEO and Managing Director of Coventry Group said, "We welcome the teams at Goudie Holdings Limited and Fraser Coast Bolts and Industrial Supplies into the Coventry Group".

Goudie Holdings Limited

Highlights

• • Coventry Group acquires New Zealand based GHL for NZ$8.5m cash.

• • GHL is Auckland's leading specialist in temporary fencing sales and hire and scaffolding plank hire into our existing construction and infrastructure markets.

• • Forecast FY22 (year ending 31 March 2022) sales of NZ$8.6m and EBITDA of NZ$1.9m. In FY21 GHL had total revenue of NZ$6.1m and adjusted EBITDA of NZ$1.5m.

• • GHL expands Coventry Group's Trade Distribution presence in New Zealand.

Fraser Coast Bolts and Industrial Supplies

Highlights

• • Coventry Group acquires Queensland based FCB for A$2.8m cash.

• • FCB is a leading provider of fasteners and industrial supplies in the Hervey Bay and Bundaberg regions in Queensland.

• • In FY21 FCB had total revenue of A$2.9m and adjusted EBITDA of A$0.6m.

• • FCB expands Coventry Group's Konnect and Artia Australia branch network.

Authorised for release by the Board of Directors of Coventry Group Limited.

For further information contact:

Robert Bulluss

Chief Executive Officer and Managing Director [phone]

Coventry Group Ltd | ABN 37 008 670 102 | 235 Settlement Road, Thomastown VIC 3074 | Tel: [phone] |www.cgl.com.au