CEO’s end-of-year note

Dear Shareholders,

As we close another successful year, I extend my sincere appreciation for your steadfast support as Envirosuite shareholders and offer my best wishes for a happy, peaceful and enjoyable holiday season.

2023 has been a testament to our commitment to our core mission of delivering on the rising global theme of environmental intelligence, and I'm pleased to reflect on some of the milestones we've achieved this year.

Envirosuite has reaffirmed its position as a global leader in environmental intelligence dedicated to empowering our diverse customer base with comprehensive solutions encompassing data collection, analytics, and actionable insights.

Our three product groups, EVS Aviation, EVS Industrial, and EVS Water, have each seen significant progress:

• EVS Aviation continues to grow due to the resurgence of air travel, infrastructure investments, and industry-wide efforts to address environmental impacts.

• EVS Industrial achieved record-breaking growth, illustrating its relevance across various industries and regions.

• EVS Water has made significant strides in global markets, attracting increasing interest from major global players.

In FY23, we achieved an adjusted EBITDA positive result for the first time, driven by sales growth, product leadership, and fiscal management. Our net result is an incredible progression from previous years and one which we seek to build on in the coming years. Our annual recurring revenue (ARR) has now surpassed $60 million and continues to accelerate with compounding growth. We are seeing unprecedented opportunities in all our activities and in every region as the incorporation of the solutions we offer becomes business-as-usual in the modern corporate world that is increasingly focused on environmental concerns.

As we look ahead, our commitment to prudent financial management, profitability, and sustainable growth remains strong. We’re in the process of Board transition, which is reflected in the executive team as we continue to attract some incredible people to join our journey. The global team, known as "Environauts," deserves every recognition for their dedication and expertise, upon which we’ve developed an amazing culture. We're committed to nurturing trust-based partnerships with all our stakeholders, including our team and our customers, as we collectively seek to address environmental challenges while optimising productive success.

With a clear vision and a strong foundation of innovation and growth, we remain committed to maximising value for our shareholders in our many commercial and corporate opportunities with the assistance of our advisors.

On behalf of the Board and all Environauts, thank you for your ongoing support and trust in Envirosuite as we work together to make a positive impact on our planet.

Sincerely,

Jason Cooper,
CEO, Envirosuite Limited