Mighty Mornings (Demo Company) (Error in Scenario Data Tables)

Monthly Performance Report

November 2021
Published on 10 February 2023
Contents (Error in Scenario Data Tables)
Income Statement Analysis............................................................. 3 Balance Sheet Analysis................................................................. 12

Monthly Income Statement............................................................ 4 Monthly Balance Sheet................................................................. 13

Quarterly Income Statement.......................................................... 5 Balance Sheet Metrics.................................................................. 14

Revenue Analysis............................................................................ 6 Monthly Cash Flow Statement...................................................... 15

Cost of Goods Sold Analysis............................................................ 7 Cash Waterfall.............................................................................. 16

Gross Margin Analysis.................................................................... 8 Cash Flow Metrics......................................................................... 17

Salaries & Wages Analysis.............................................................. 9 Cash Flow Contributors................................................................. 18

Expenses Analysis......................................................................... 10 Scenarios - Income Statement...................................................... 19

Profitability Analysis..................................................................... 11 Scenarios - Balance Sheet & Cash Flow Statement........................ 20

Income Statement Analysis (Error in Scenario Data Tables) November 2021

YTD Actual vs. Last Year Nov 21 Plus Last 3 Months FY2021
To Nov 21 To Nov 20 Change +/- Change % Nov 21 Oct 21 Sep 21 Aug 21 YTD Forecast Full Year

Revenue
Wheatios Sales 16,463 15,679 784 5.0% 1,692 1,364 1,637 1,610 16,463 1,728 18,191
Vegan Flakes Sales 14,268 13,589 679 5.0% 1,466 1,182 1,419 1,395 14,268 1,498 15,766
Berry Bran Sales 10,975 10,453 523 5.0% 1,128 910 1,091 1,073 10,975 1,152 12,128
Total Revenue 41,706 39,720 1,986 5.0% 4,286 3,456 4,148 4,078 41,706 4,378 46,085
Cost of Goods Sold
Wheatios Cost of Sales (12,347) (11,759) (588) 5.0% (1,269) (1,023) (1,228) (1,207) (12,347) (1,296) (13,643)
Vegan Flakes Cost of Sales (10,701) (10,191) (510) 5.0% (1,100) (887) (1,064) (1,046) (10,701) (1,123) (11,824)
Berry Bran Cost of Sales (8,232) (7,840) (392) 5.0% (846) (682) (819) (805) (8,232) (864) (9,096)
Total Cost of Goods Sold (31,280) (29,790) (1,490) 5.0% (3,214) (2,592) (3,111) (3,059) (31,280) (3,284) (34,563)
Gross Margin 10,427 9,930 497 5.0% 1,071 864 1,037 1,020 10,427 1,095 11,521
Gross Margin % 25.0% 25.0% (0.0%) (0.0%) 25.0% 25.0% 25.0% 25.0% 25.0% 25.0% 25.0%
Net Operating Expenses
Other Revenue 76 73 3 4.0% 7 7 7 7 76 7 83
Salaries & Wages (3,005) (2,903) (102) 3.5% (273) (273) (273) (273) (3,005) (277) (3,282)
Retirement Contributions (300) (290) (10) 3.5% (27) (27) (27) (27) (300) (28) (328)
Movement in Annual Leave Provision (3) (2) (0) 3.5% - - - - (3) (1) (4)
Movement in Long Service Leave Provision (4) (3) (0) 6.5% - - - - (4) 1 (2)
Payroll Tax (103) (97) (5) 5.6% (9) (9) (9) (9) (103) (15) (118)
Operating Expenditure (2,700) (2,609) (91) 3.5% (266) (232) (260) (257) (2,700) (274) (2,974)
Other Expenses (286) (279) (7) 2.5% (26) (26) (26) (26) (286) (25) (312)
Net Operating Expenses (6,324) (6,111) (213) 3.5% (595) (560) (589) (586) (6,324) (612) (6,937)
EBITDA 4,102 3,819 284 7.4% 476 304 448 433 4,102 482 4,584
EBITDA % 9.8% 9.6% 0.2% 2.3% 11.1% 8.8% 10.8% 10.6% 9.8% 11.0% 9.9%
Depreciation & Amortization (1,514) (1,401) (113) 8.0% (142) (141) (140) (139) (1,514) (145) (1,659)
EBIT 2,588 2,417 171 7.1% 334 163 307 294 2,588 337 2,925
EBIT % 6.2% 6.1% 0.1% 2.0% 7.8% 4.7% 7.4% 7.2% 6.2% 7.7% 6.3%
Net Interest Expense (589) (589) - - (54) (54) (54) (54) (589) (56) (645)
Net Profit Before Tax 1,999 1,828 171 9.3% 281 109 254 240 1,999 281 2,280
Tax Expense (600) (548) (51) 9.3% (84) (33) (76) (72) (600) (59) (659)
Net Profit After Tax 1,399 1,280 120 9.3% 197 76 178 168 1,399 222 1,622

Page 3 of 20
Monthly Income Statement (Error in Scenario Data Tables) FY2021

Month Jan 21 Feb 21 Mar 21 Apr 21 May 21 Jun 21 Jul 21 Aug 21 Sep 21 Oct 21 Nov 21 Dec 21 FY2021

Revenue
Wheatios Sales 1,383 1,564 1,492 1,564 1,592 1,292 1,273 1,610 1,637 1,364 1,692 1,728 18,191
Vegan Flakes Sales 1,198 1,356 1,293 1,356 1,380 1,119 1,104 1,395 1,419 1,182 1,466 1,498 15,766
Berry Bran Sales 922 1,043 994 1,043 1,061 861 849 1,073 1,091 910 1,128 1,152 12,128
Total Revenue 3,502 3,963 3,779 3,963 4,032 3,272 3,226 4,078 4,148 3,456 4,286 4,378 46,085
Cost of Goods Sold
Wheatios Cost of Sales (1,037) (1,173) (1,119) (1,173) (1,194) (969) (955) (1,207) (1,228) (1,023) (1,269) (1,296) (13,643)
Vegan Flakes Cost of Sales (899) (1,017) (970) (1,017) (1,035) (840) (828) (1,046) (1,064) (887) (1,100) (1,123) (11,824)
Berry Bran Cost of Sales (691) (782) (746) (782) (796) (646) (637) (805) (819) (682) (846) (864) (9,096)
Total Cost of Goods Sold (2,627) (2,972) (2,834) (2,972) (3,024) (2,454) (2,419) (3,059) (3,111) (2,592) (3,214) (3,284) (34,563)
Gross Margin 876 991 945 991 1,008 818 806 1,020 1,037 864 1,071 1,095 11,521
Gross Margin % 25.0% 25.0% 25.0% 25.0% 25.0% 25.0% 25.0% 25.0% 25.0% 25.0% 25.0% 25.0% 25.0%
Net Operating Expenses
Other Revenue 7 7 7 7 7 7 7 7 7 7 7 7 83
Salaries & Wages (273) (273) (273) (273) (273) (273) (273) (273) (273) (273) (273) (277) (3,282)
Retirement Contributions (27) (27) (27) (27) (27) (27) (27) (27) (27) (27) (27) (28) (328)
Movement in Annual Leave Provision (3) - - - - - - - - - - (1) (4)
Movement in Long Service Leave Provision (4) - - - - - - - - - - 1 (2)
Payroll Tax (9) (9) (9) (9) (9) (9) (9) (9) (9) (9) (9) (15) (118)
Operating Expenditure (233) (253) (245) (253) (256) (224) (222) (257) (260) (232) (266) (274) (2,974)
Other Expenses (26) (26) (26) (26) (26) (26) (26) (26) (26) (26) (26) (25) (312)
Net Operating Expenses (568) (582) (574) (582) (584) (553) (551) (586) (589) (560) (595) (612) (6,937)
EBITDA 307 409 371 409 424 265 256 433 448 304 476 482 4,584
EBITDA % 8.8% 10.3% 9.8% 10.3% 10.5% 8.1% 7.9% 10.6% 10.8% 8.8% 11.1% 11.0% 9.9%
Depreciation & Amortization (133) (134) (135) (136) (137) (138) (139) (139) (140) (141) (142) (145) (1,659)
EBIT 174 275 236 273 287 128 117 294 307 163 334 337 2,925
EBIT % 5.0% 6.9% 6.2% 6.9% 7.1% 3.9% 3.6% 7.2% 7.4% 4.7% 7.8% 7.7% 6.3%
Net Interest Expense (54) (54) (54) (54) (54) (54) (54) (54) (54) (54) (54) (56) (645)
Net Profit Before Tax 120 222 182 220 233 74 64 240 254 109 281 281 2,280
Tax Expense (36) (66) (55) (66) (70) (22) (19) (72) (76) (33) (84) (59) (659)
Net Profit After Tax 84 155 128 154 163 52 45 168 178 76 197 222 1,622

Page 4 of 20
Quarterly Income Statement Analysis (Error in Scenario Data Tables) FY2021

March Quarter June Quarter September Quarter December Quarter

FY2021 Last Year Change % FY2021 Last Year Change % FY2021 Last Year Change % FY2021 Last Year Change %

Revenue
Wheatios Sales 4,439 4,227 5.0% 4,448 4,236 5.0% 4,521 4,305 5.0% 4,784 4,556 5.0%
Vegan Flakes Sales 3,847 3,664 5.0% 3,855 3,671 5.0% 3,918 3,731 5.0% 4,146 3,949 5.0%
Berry Bran Sales 2,959 2,818 5.0% 2,965 2,824 5.0% 3,014 2,870 5.0% 3,190 3,038 5.0%
Total Revenue 11,245 10,709 5.0% 11,268 10,731 5.0% 11,452 10,907 5.0% 12,120 11,543 5.0%
Cost of Goods Sold
Wheatios Cost of Sales (3,329) (3,170) 5.0% (3,336) (3,177) 5.0% (3,390) (3,229) 5.0% (3,588) (3,417) 5.0%
Vegan Flakes Cost of Sales (2,885) (2,748) 5.0% (2,891) (2,753) 5.0% (2,938) (2,798) 5.0% (3,110) (2,962) 5.0%
Berry Bran Cost of Sales (2,219) (2,114) 5.0% (2,224) (2,118) 5.0% (2,260) (2,153) 5.0% (2,392) (2,278) 5.0%
Total Cost of Goods Sold (8,433) (8,032) 5.0% (8,451) (8,048) 5.0% (8,589) (8,180) 5.0% (9,090) (8,657) 5.0%
Gross Margin 2,811 2,677 5.0% 2,817 2,683 5.0% 2,863 2,727 5.0% 3,030 2,886 5.0%
Gross Margin % 25.0% 25.0% (0.0%) 25.0% 25.0% 0.0% 25.0% 25.0% (0.0%) 25.0% 25.0% 0.0%
Net Operating Expenses
Other Revenue 21 20 4.0% 21 20 4.0% 21 20 4.0% 21 20 2.7%
Salaries & Wages (819) (792) 3.5% (819) (792) 3.5% (819) (792) 3.5% (823) (792) 4.0%
Retirement Contributions (82) (79) 3.5% (82) (79) 3.5% (82) (79) 3.5% (82) (79) 4.0%
Movement in Annual Leave Provision (3) (2) 3.5% - - N/A - - N/A (1) - N/A
Movement in Long Service Leave Provision (4) (3) 6.5% - - N/A - - N/A 1 - N/A
Payroll Tax (28) (26) 5.6% (28) (26) 5.6% (28) (26) 5.6% (34) (26) 28.0%
Operating Expenditure (731) (706) 3.5% (732) (707) 3.5% (740) (715) 3.5% (771) (742) 4.0%
Other Expenses (78) (76) 2.5% (78) (76) 2.5% (78) (76) 2.5% (77) (76) 1.7%
Net Operating Expenses (1,724) (1,666) 3.5% (1,719) (1,661) 3.5% (1,726) (1,668) 3.5% (1,768) (1,695) 4.3%
EBITDA 1,087 1,012 7.5% 1,098 1,022 7.5% 1,137 1,058 7.4% 1,262 1,191 6.0%
EBITDA % 9.7% 9.4% 2.4% 9.7% 9.5% 2.4% 9.9% 9.7% 2.3% 10.4% 10.3% 1.0%
Depreciation & Amortization (403) (372) 8.2% (410) (380) 8.1% (418) (387) 8.0% (428) (395) 8.4%
EBIT 685 639 7.1% 688 642 7.1% 718 671 7.0% 834 796 4.8%
EBIT % 6.1% 6.0% 2.0% 6.1% 6.0% 2.0% 6.3% 6.2% 1.9% 6.9% 6.9% (0.2%)
Net Interest Expense (161) (161) - (161) (161) - (161) (161) - (163) (161) 1.3%
Net Profit Before Tax 524 479 9.5% 527 482 9.5% 558 511 9.3% 671 635 5.7%
Tax Expense (157) (144) 9.5% (158) (144) 9.5% (167) (153) 9.3% (176) (190) (7.6%)
Net Profit After Tax 367 335 9.5% 369 337 9.5% 390 357 9.3% 495 444 11.4%

Page 5 of 20
Revenue Analysis (Error in Scenario Data Tables) FY2021

Revenue Revenue Composition - FY2021

Other
Revenue 2, - Other
Last Year FY2021 Next Year Revenue 1, -

5,000
Berry Bran
4,500 Sales, 12,128

4,000 Wheatios
Sales, 18,191
3,500

3,000

2,500

2,000

1,500

1,000

500
Vegan Flakes
- Sales, 15,766
January February March April May June July August September October November December

Cumulative Revenue Revenue Depth - FY2021 Top 5 Revenue

20,000 Wheatios Sales Vegan Flakes Sales Berry Bran Sales

Last Year FY2021 Next Year
Other Revenue 1 Other Revenue 2
60,000 18,000 5,000

16,000 4,500
50,000
Wheatios Sales 4,000
14,000
3,500
40,000 Vegan Flakes Sales
12,000
3,000
10,000 Berry Bran Sales
30,000 2,500

8,000 Other Revenue 1 2,000

20,000
1,500
6,000 Other Revenue 2
1,000
10,000
4,000 500
- 2,000 -
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-F - 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-F

Page 6 of 20
Cost of Goods Sold Analysis (Error in Scenario Data Tables) FY2021

Cost of Goods Sold Cost of Goods Sold Composition - FY2021

Other Cost of Other Cost of
Goods Sold 2, Goods Sold 1,
Last Year FY2021 Next Year - -

4,000 Berry Bran

Cost of Sales,
9,096
3,500 Wheatios
Cost of Sales,
3,000 13,643

2,500

2,000

1,500

1,000

500
Vegan Flakes
- Cost of Sales,
January February March April May June July August September October November December 11,824

Cumulative Cost of Goods Sold Cost of Goods Sold Depth - FY2021 Top 5 Cost of Goods Sold

Wheatios Cost of Sales Vegan Flakes Cost of Sales

16,000
Last Year FY2021 Next Year Berry Bran Cost of Sales Other Cost of Goods Sold 1
Other Cost of Goods Sold 2
40,000 14,000 3,500

35,000 3,000
12,000 Wheatios Cost of
30,000 Sales
Vegan Flakes Cost of 2,500
10,000
25,000 Sales
Berry Bran Cost of 2,000
20,000 8,000 Sales
Other Cost of Goods 1,500
15,000 Sold 1
6,000
Other Cost of Goods 1,000
10,000 Sold 2
4,000
5,000 500

2,000
- -
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-F - 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-F

Page 7 of 20
Gross Margin Analysis (Error in Scenario Data Tables) FY2021

Gross Margin Gross Margin

Last Year FY2021 Next Year Revenue Cost of Goods Sold Gross Margin

1,400 5,000
4,500
1,200
4,000

1,000 3,500
3,000
800
2,500

600 2,000
1,500
400
1,000

200 500
-
- Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
January February March April May June July August September October November December 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-F

Gross Margin % Cumulative Gross Margin

Last Year FY2021 Next Year Last Year FY2021 Next Year

25% 14,000

12,000
25%

10,000
25%
8,000

25%
6,000

25% 4,000

2,000
25%

-
25% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
January February March April May June July August September October November December 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-F

Page 8 of 20
Salaries & Wages Analysis (Error in Scenario Data Tables) FY2021

Salaries & Wages Expenses Salaries & Wages Composition - FY2021

Shop Assistants Managers Other Salaries & Wages Directors,

Leave Provisions & Payroll Tax Last Year Next Year 322

400 Admin, 343

350
Shop
300
Assistants,
1,416
250

200 Senior
Management,
150 515

100

50

- Managers,
January February March April May June July August September October November December 686

Cumulative Salaries & Wages Expenses Salaries & Wages Depth - FY2021 Top 5 Salaries & Wages

Shop Assistants Managers

1,600
Last Year FY2021 Next Year Senior Management Admin
Directors
4,500 1,400 300

4,000
1,200 Shop Assistants 250
3,500

3,000 1,000 Managers 200

2,500 Senior Management

800 150
2,000
Admin
1,500 600 100
Directors
1,000
400 50
500
200
- -
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-F - 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-F

Page 9 of 20
Expenses Analysis (Error in Scenario Data Tables) FY2021

Expenses Summary* Operating Expenses Composition - FY2021*

Salaries & Wages Expenses Television & Media Advertising Research & Development
General &
Other Operating Expenses Last Year Next Year Other
Other, 473
Expenses, -
700

600

500 Television &

Print Media
400 Advertising, Advertising,
495 1,430
300

200

100
Research &
- Development,
January February March April May June July August September October November December 576

* Excludes other revenue and expenses. * Excludes other revenue and expenses.

Cumulative Net Operating Expenses Operating Expenses Depth - FY2021* Top 5 Operating Expenses*

Television & Media Advertising Research & Development

1,600
Last Year FY2021 Next Year Print Advertising General & Other
Other Expenses
8,000 1,400 300

7,000
1,200 Television & Media 250
6,000 Advertising
1,000 Research & 200
Development
5,000
Print Advertising
800 150
4,000 General & Other
3,000 600 100
Other Expenses

2,000 400 50
1,000
200 -
- Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec - 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-F
21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-F
* Excludes other revenue and expenses. * Excludes other revenue and expenses.

Page 10 of 20
Profitability Analysis (Error in Scenario Data Tables) FY2021

EBITDA Cumulative EBITDA

Revenue Cost of Goods Sold Net Operating Expenses EBITDA

Last Year FY2021 Next Year

5,000 5,000
4,500 4,500
4,000 4,000
3,500 3,500
3,000 3,000
2,500 2,500
2,000 2,000
1,500 1,500
1,000 1,000
500 500
- -
January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-F

Net Profit After Tax Cumulative Net Profit After Tax

Last Year FY2021 Next Year Last Year FY2021 Next Year

250 2,000
1,800

200 1,600
1,400
1,200
150
1,000
800
100
600
400
50
200
-
- Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
January February March April May June July August September October November December 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-F

Page 11 of 20
Balance Sheet Analysis (Error in Scenario Data Tables) November 2021

Nov 21 Plus Last 3 Months November 2021 vs Prior Year

Nov 21 Oct 21 Sep 21 Aug 21 Nov 21 Nov 20 Change +/- Change % Account Movements

Cash 1,818 2,124 1,985 1,640 1,818 1,475 343 23.3% - 343.3
Debtors 4,722 3,687 4,570 4,349 4,722 4,497 225 5.0% - 224.8
Inventory 4,412 4,664 3,951 4,255 4,412 4,202 210 5.0% - 210.1
Other Current Assets 964 964 960 961 964 982 (18) (1.8%) (17.7) -
Current Assets 11,917 11,439 11,466 11,205 11,917 11,156 760 6.8% - 760.5
Fixed Assets 13,854 13,800 13,746 13,691 13,854 13,158 696 5.3% - 696.1
Intangible Assets 5,516 5,536 5,571 5,604 5,516 5,846 (330) (5.6%) (330.0) -
Deferred Tax Assets 45 37 53 45 45 43 2 5.6% - 2.4
Other Non-Current Assets 1,140 1,148 1,149 1,154 1,140 1,148 (7) (0.6%) (7.4) -
Non-Current Assets 20,556 20,521 20,519 20,494 20,556 20,195 361 1.8% - 361.2
Total Assets 32,472 31,959 31,986 31,699 32,472 31,351 1,122 3.6% - 1,121.7
Accounts Payable 5,818 5,774 5,384 5,540 5,818 5,545 274 4.9% - 273.9
Employment Payables 201 105 296 201 201 194 7 3.6% - 7.0
Sales Tax Payable 60 (26) 129 39 60 55 5 8.9% - 4.9
Corporate Tax Payable 109 16 167 83 109 99 10 9.6% - 9.5
Interest Payable - - - - - - - N/A - -
Dividends Payable - - - - - - - N/A - -
Other Current Liabilities 19 22 22 24 19 24 (5) (22.6%) (5.5) -
Current Liabilities 6,207 5,891 5,999 5,886 6,207 5,917 290 4.9% - 289.9
Provision for Annual Leave 75 75 75 75 75 73 3 3.5% - 2.5
Provision for Long Service Leave 21 21 21 21 21 17 4 20.7% - 3.6
Debt 9,673 9,673 9,673 9,673 9,673 9,673 - - - -
Deferred Tax Liabilities 200 200 200 200 200 200 - - - -
Other Non-Current Liabilities 223 227 232 241 223 228 (5) (2.2%) (5.0) -
Non-Current Liabilities 10,192 10,196 10,201 10,210 10,192 10,191 1 0.0% - 1.2
Total Liabilities 16,399 16,087 16,200 16,096 16,399 16,108 291 1.8% - 291.0
Net Assets 16,074 15,872 15,786 15,603 16,074 15,243 831 5.4% - 830.6
Ordinary Equity 0 0 0 0 0 0 - - - -
Other Equity 41 37 27 21 41 36 6 16.3% - 5.8
Retained Profits 16,032 15,836 15,759 15,582 16,032 15,207 825 5.4% - 824.8
Total Equity 16,074 15,872 15,786 15,603 16,074 15,243 831 5.4% - 830.6
(500) - 500 1,000 1,500
Current Ratio (x) 1.92x 1.94x 1.91x 1.90x 1.92x 1.89x
Quick Ratio (x) 1.05x 0.99x 1.09x 1.02x 1.05x 1.01x Total Assets - 1,121.7
Cash Ratio (x) 0.29x 0.36x 0.33x 0.28x 0.29x 0.25x Total Liabilities - 291.0
Debt / Total Assets (%) 29.8% 30.3% 30.2% 30.5% 29.8% 30.9% Total Equity - 830.6
Debt / Total Equity (%) 60.2% 60.9% 61.3% 62.0% 60.2% 63.5% - 200 400 600 800 1,000 1,200

Page 12 of 20
Monthly Balance Sheet (Error in Scenario Data Tables) FY2021

Month Jan 21 Feb 21 Mar 21 Apr 21 May 21 Jun 21 Jul 21 Aug 21 Sep 21 Oct 21 Nov 21 Dec 21

Cash 1,614 1,431 2,083 1,618 2,097 2,795 1,933 1,640 1,985 2,124 1,818 1,045
Debtors 3,736 4,616 4,030 4,367 4,300 3,607 3,441 4,349 4,570 3,687 4,722 5,137
Inventory 4,406 4,091 4,307 4,062 3,522 3,671 4,374 4,255 3,951 4,664 4,412 4,319
Other Current Assets 979 974 969 970 967 960 962 961 960 964 964 964
Current Assets 10,735 11,113 11,390 11,017 10,886 11,033 10,710 11,205 11,466 11,439 11,917 11,464
Fixed Assets 13,295 13,353 13,410 13,467 13,524 13,580 13,636 13,691 13,746 13,800 13,854 13,883
Intangible Assets 5,785 5,764 5,733 5,708 5,687 5,654 5,631 5,604 5,571 5,536 5,516 5,518
Deferred Tax Assets 37 45 53 37 45 53 37 45 53 37 45 40
Other Non-Current Assets 1,149 1,156 1,165 1,164 1,161 1,159 1,154 1,154 1,149 1,148 1,140 1,140
Non-Current Assets 20,266 20,318 20,361 20,376 20,417 20,447 20,458 20,494 20,519 20,521 20,556 20,581
Total Assets 31,001 31,431 31,751 31,393 31,303 31,480 31,168 31,699 31,986 31,959 32,472 32,046
Accounts Payable 5,504 5,530 5,531 5,369 4,832 4,810 5,424 5,540 5,384 5,774 5,818 5,155
Employment Payables 105 201 296 105 201 296 105 201 296 105 201 112
Sales Tax Payable 3 89 119 80 190 216 (31) 39 129 (26) 60 219
Corporate Tax Payable 22 97 160 50 128 158 3 83 167 16 109 53
Interest Payable - - - - - - - - - - - -
Dividends Payable - - - - - 368 - - - - - 56
Other Current Liabilities 25 23 22 22 20 19 21 24 22 22 19 19
Current Liabilities 5,659 5,939 6,129 5,625 5,371 5,868 5,522 5,886 5,999 5,891 6,207 5,614
Provision for Annual Leave 75 75 75 75 75 75 75 75 75 75 75 76
Provision for Long Service Leave 21 21 21 21 21 21 21 21 21 21 21 20
Debt 9,673 9,673 9,673 9,673 9,673 9,673 9,673 9,673 9,673 9,673 9,673 9,673
Deferred Tax Liabilities 200 200 200 200 200 200 200 200 200 200 200 200
Other Non-Current Liabilities 239 236 244 236 234 240 238 241 232 227 223 223
Non-Current Liabilities 10,209 10,205 10,213 10,206 10,203 10,209 10,208 10,210 10,201 10,196 10,192 10,192
Total Liabilities 15,868 16,144 16,342 15,831 15,574 16,077 15,729 16,096 16,200 16,087 16,399 15,805
Net Assets 15,133 15,286 15,409 15,563 15,729 15,403 15,439 15,603 15,786 15,872 16,074 16,240
Ordinary Equity 0 0 0 0 0 0 0 0 0 0 0 0
Other Equity 48 46 42 41 44 34 25 21 27 37 41 41
Retained Profits 15,085 15,240 15,368 15,522 15,685 15,369 15,413 15,582 15,759 15,836 16,032 16,199
Total Equity 15,133 15,286 15,409 15,563 15,729 15,403 15,439 15,603 15,786 15,872 16,074 16,240

Current Ratio (x) 1.90x 1.87x 1.86x 1.96x 2.03x 1.88x 1.94x 1.90x 1.91x 1.94x 1.92x 2.04x
Quick Ratio (x) 0.95x 1.02x 1.00x 1.06x 1.19x 1.09x 0.97x 1.02x 1.09x 0.99x 1.05x 1.10x
Cash Ratio (x) 0.29x 0.24x 0.34x 0.29x 0.39x 0.48x 0.35x 0.28x 0.33x 0.36x 0.29x 0.19x
Debt / Total Assets (%) 31.2% 30.8% 30.5% 30.8% 30.9% 30.7% 31.0% 30.5% 30.2% 30.3% 29.8% 30.2%
Debt / Total Equity (%) 63.9% 63.3% 62.8% 62.2% 61.5% 62.8% 62.7% 62.0% 61.3% 60.9% 60.2% 59.6%

Page 13 of 20
Balance Sheet Metrics (Error in Scenario Data Tables) FY2021

Net Assets Net Assets Reconciliation - November 2021 Balance Sheet Components - November 2021

Assets Liabilities Net Assets Cash,

35,000
Non-Current 1,818.3
Last Year Next Year Liabilities, Debtors,
40,000 30,000 10,192.0 4,722.1

30,000 25,000 Other Current

Liabilities,
388.2
20,000 20,000 Inventory,
4,412.1
10,000 15,000

- 10,000
Accounts
Payable,
(10,000) 5,000 5,818.4

Other Assets,
(20,000) - 21,519.8
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Current Non-Current Current Non-Current Net Assets
21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-F Assets Assets Liabilities Liabilities

Current Assets Equity

Cash Debtors Inventory Other Current Assets Last Year Next Year Ordinary Equity Other Equity Retained Profits Last Year Next Year

16,000 20,000

14,000 18,000
16,000
12,000
14,000
10,000 12,000
8,000 10,000

6,000 8,000
6,000
4,000
4,000
2,000 2,000
- -
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-F 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-F

Page 14 of 20
Monthly Cash Flow Statement (Error in Scenario Data Tables) FY2021

Month Jan 21 Feb 21 Mar 21 Apr 21 May 21 Jun 21 Jul 21 Aug 21 Sep 21 Oct 21 Nov 21 Dec 21 FY2021

Revenue 3,502 3,963 3,779 3,963 4,032 3,272 3,226 4,078 4,148 3,456 4,286 4,378 46,085
Decrease in Debtors 710 (881) 586 (337) 67 693 165 (908) (221) 883 (1,035) (415) (691)
Other Cash Receipts 7 7 7 7 7 7 7 7 7 7 7 7 83
Cash Receipts 4,219 3,090 4,372 3,633 4,107 3,972 3,398 3,178 3,934 4,347 3,257 3,970 45,477
Cost of Goods Sold (2,627) (2,972) (2,834) (2,972) (3,024) (2,454) (2,419) (3,059) (3,111) (2,592) (3,214) (3,284) (34,563)
Salaries & Wages (273) (273) (273) (273) (273) (273) (273) (273) (273) (273) (273) (277) (3,282)
Historical Leave Provisions 0 - - - - - - - - - - - 0
Salaries & Wages Taxes Withheld (130) 68 68 (137) 68 68 (137) 68 68 (137) 68 (67) (129)
Retirement Contributions Paid (79) - (0) (82) - (0) (82) - (0) (82) - (55) (380)
Payroll Tax Paid (9) (9) (9) (9) (9) (9) (9) (9) (9) (9) (9) (9) (111)
Operating Expenditure (233) (253) (245) (253) (256) (224) (222) (257) (260) (232) (266) (274) (2,974)
Decrease in Inventory (433) 315 (216) 246 540 (149) (703) 119 304 (713) 252 93 (345)
Increase in Creditors (19) 35 (27) 12 (5) (17) (7) 25 9 (27) 31 7 18
Increase in Inventory Payables 166 (9) 28 (174) (532) (6) 622 91 (165) 417 13 (671) (220)
Other Cash Payments (27) (28) (26) (26) (28) (27) (25) (23) (28) (27) (29) (25) (319)
Cash Payments (3,664) (3,126) (3,535) (3,669) (3,518) (3,091) (3,256) (3,318) (3,465) (3,674) (3,427) (4,562) (42,306)
Interest on Cash - - - - - - - - - - - 1 1
Increase in Sales Tax Payable (134) 86 30 (39) 110 27 (247) 69 90 (154) 86 159 82
Interest Paid (54) (54) (54) (54) (54) (54) (54) (54) (54) (54) (54) (56) (645)
Corporate Tax Paid (190) 0 (0) (160) (0) (0) (158) - (0) (167) 0 (109) (785)
Other Operating Cash Flows 3 5 5 (1) 3 7 (2) 2 0 (4) (0) 0 18
Operating Cash Flows 179 1 819 (290) 647 861 (318) (123) 505 293 (138) (597) 1,841
Fixed Assets Capital Expenditure (155) (155) (156) (156) (156) (157) (157) (158) (158) (158) (159) (174) (1,899)
Intangibles Capital Expenditure (10) (16) (6) (12) (16) (4) (14) (10) (4) (2) (18) (2) (114)
Other Investing Cash Flows (13) (7) (8) 1 3 1 5 - 5 1 8 - (4)
Investing Cash Flows (177) (178) (170) (167) (169) (159) (166) (168) (157) (159) (169) (176) (2,017)
Debt Drawdowns - - - - - - - - - - - - -
Debt Repayments - - - - - - - - - - - - -
Ordinary Equity Raisings - - - - - - - - - - - - -
Ordinary Equity Buybacks - - - - - - - - - - - - -
Ordinary Equity Dividends Paid (401) - (0) (0) (0) 0 (368) - - (0) 0 - (769)
Other Financing Cash Flows 7 (6) 3 (8) 1 (4) (10) (2) (3) 5 0 - (16)
Financing Cash Flows (394) (6) 3 (8) 1 (4) (378) (2) (3) 5 0 - (785)
Change in Cash Held (392) (183) 652 (465) 479 698 (862) (292) 344 140 (306) (773) (961)

Page 15 of 20
Cash Waterfall (Error in Scenario Data Tables) FY2021

- 10,000 20,000 30,000 40,000 50,000 60,000

Cash
Opening Cash 2,006
Revenue 46,085
Decrease in Debtors (691)
Other Cash Receipts 83
Cash Receipts 45,477
Cost of Goods Sold (34,563)
Salaries & Wages (3,282)
Historical Leave Provisions 0
Salaries & Wages Taxes Withheld (129)
Retirement Contributions Paid (380)
Payroll Tax Paid (111)
Operating Expenditure (2,974)
Decrease in Inventory (345)
Increase in Creditors 18
Increase in Inventory Payables (220)
Other Cash Payments (319)
Cash Payments (42,306)
Interest on Cash 1
Increase in Sales Tax Payable 82
Interest Paid (645)
Corporate Tax Paid (785)
Other Operating Cash Flows 18
Operating Cash Flows 1,841
Fixed Assets Capital Expenditure (1,899)
Intangibles Capital Expenditure (114)
Other Investing Cash Flows (4)
Investing Cash Flows (2,017)
Debt Drawdowns -
Debt Repayments -
Ordinary Equity Raisings -
Ordinary Equity Buybacks -
Ordinary Equity Dividends Paid (769)
Other Financing Cash Flows (16)
Financing Cash Flows (785)
Closing Cash 1,045

Page 16 of 20
Cash Flow Metrics (Error in Scenario Data Tables) FY2021

Change in Cash Held Operating Cash Flows

Cash Receipts
Last Year FY2021 Next Year Cash Payments
Other Operating Cash Flows
Operating Cash Flows
1,200
5,000
1,000
4,000
800
3,000
600
2,000
400 1,000
200 -
- (1,000)
(200) (2,000)
(3,000)
(400)
(4,000)
(600)
(5,000)
(800)
(6,000)
(1,000) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
January February March April May June July August September October November December 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-F

Working Capital Management Closing Cash Balance Change in Cash Held - YTD

Increase in Inventory Payables Decrease in Inventory Other

Investing Financing
Increase in Creditors Decrease in Debtors Last Year FY2021 Next Year Operating
Cash Flows, Cash Flows,
Cash Flows,
Net Movement (1,840) (785)
3,000 (1,324)
1,500
2,500
1,000
2,000
500
Cash
Receipts,
1,500 Cash
- 41,506
Payments,
(37,745)
1,000
(500)

(1,000) 500

(1,500) -
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-F 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-F

Page 17 of 20
Cash Flow Contributors (Error in Scenario Data Tables) FY2021

Operating Cash Flows Investing Cash Flows Financing Cash Flows

Last Year FY2021 Next Year Last Year FY2021 Next Year Last Year FY2021 Next Year

1,400 - 100
1,200 (20) 50
1,000 (40) -
800 (50)
(60)
600 (100)
(80)
400 (150)
(100)
200 (200)
(120)
- (250)
(140)
(200) (300)
(400) (160) (350)
(600) (180) (400)
(800) (200) (450)
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-F 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-F 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-F

Investing & Financing Cash Flows Change in Cash Held Cumulative Change in Cash Held

Investing Cash Flows

Financing Cash Flows Last Year FY2021 Next Year FY2021 Next Year
Net Movement
1,500 2,000
100
1,500
- 1,000
1,000
(100)
500
500
(200)
-
(300) -

(400) (500)
(500)
(500) (1,000)

(600) (1,000) (1,500)

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-F 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-F 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-H 21-F

Page 18 of 20
Scenarios - Income Statement (Error in Scenario Data Tables) 12 Months to November 2022

Revenue Cost of Goods Sold Gross Margin

Base Case Upside Downside Base Case Upside Downside Base Case Upside Downside

1 1 1
1 1 1
1 1 1
1 1 1
1 1 1
1 1 1
0 0 0
0 0 0
0 0 0
0 0 0
- - -
Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov
21-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 21-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 21-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F

Net Operating Expenditure EBITDA Net Profit After Tax

Base Case Upside Downside Base Case Upside Downside Base Case Upside Downside

1 1 1
1 1 1
1 1 1
1 1 1
1 1 1
1 1 1
0 0 0
0 0 0
0 0 0
0 0 0
- - -
Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov
21-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 21-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 21-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F

Page 19 of 20
Scenarios - Balance Sheet & Cash Flow Statement (Error in Scenario Data Tables) 12 Months to November 2022

Closing Cash Total Current Assets Total Assets

Base Case Upside Downside Base Case Upside Downside Base Case Upside Downside

1 1 1
1 1 1
1 1 1
1 1 1
1 1 1
1 1 1
0 0 0
0 0 0
0 0 0
0 0 0
- - -
Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov
21-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 21-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 21-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F

Total Liabilities Net Assets Change in Cash Held

Base Case Upside Downside Base Case Upside Downside Base Case Upside Downside

1 1 1
1 1 1
1 1 1
1 1 1
1 1 1
1 1 1
0 0 0
0 0 0
0 0 0
0 0 0
- - -
Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov
21-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 21-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 21-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F 22-F

Page 20 of 20