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AUTOMOTIVE SOLUTIONS GROUP LIMITED

Investor presentation – March 2017

Commercial in confidence

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DISCLAIMER

Commercial in Confidence 2

All currency amounts are in AUD$ unless stated otherwise.

Disclaimer

This presentation has been prepared by Automotive Solutions Group Ltd (“Company”). It does not purport to contain all the information that a prospective investor may require in connection with any

potential investment in the Company. You should not treat the contents of this presentation, or any information provided in connection with it, as financial advice, financial product advice or advice relating

to legal, taxation or investment matters.

No representation or warranty(whether express or implied) is made by the Company or any of its officers, advisers, agents or employees as to the accuracy, completeness or reasonableness of the

information, statements, opinions or matters (express or implied) arising out of , contained in or derived from this presentation or provided in connection with it, or any omission from this presentation, nor

as to the attainability of any estimates, forecasts or projections set out in this presentation.

This presentation is provided expressly on the basis that you will carry out your own independent inquiries into the matters contained in the presentation and make your own independent decisions about

the affairs, financial position or prospects of the company. The Company reserves the right to update, amend or supplement the information at any time in its absolute discretion (without incurring any

obligation to do so).

Neither the Company, nor its related bodies corporate, officers, their advisers, agents and employees accept any responsibility or liability to you or to any person or entity arising out of this presentation

including pursuant to the general law (whether for negligence, under statue or otherwise), or under the Australian Securities and Investments Commission Act 2001, Corporations Act 2001, Competition and

Consumer Act 2010 or any corresponding provision of any Australian state or territory legislation (or the law of any similar legislation in any other jurisdiction), or similar provision under any applicable law.

Any such responsibility or liability is, to the maximum extent permitted by law, expressly disclaimed and excluded.

Nothing in this material should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities. It does not include all available information and should not be used in isolation as a

basis to invest in the Company.

Future matters

This presentation contains reference to certain intentions, expectations, future plans, strategy and prospects of the Company.

Those intentions, expectations, future plans, strategy and prospects may or may not be achieved. They are based or certain assumptions, which may not be met or on which views may differ and may be

affected by known or unknown risks. The performance and operations of the Company may be influenced by a number of factors, many of which are outside the control of the Company. No representation

or warranty, express or implied, is made by the Company, or any of its directors, officer, employees, advisers or agents that any intentions, expectations or plans will be achieved either totally or partially or

that any particular rate of return will be achieved.

Given the risks and uncertainties that may cause the Company’s actual future results, performance or achievements to be materially different from those expected, planned or intended, recipients should not

place undue reliance on these intentions, expectations, future plans, strategy and prospects. The Company does not warrant or represent that the actual results, performance or achievements will be

expected, planned or intended.

US disclosure

This document does not constitute any part of any offer to sell, or the solicitation of any offer to buy, any securities in the United States or to, or for the account or benefit of any “US person” as defined in

Regulation S under the US Securities Act of 1993 (“Securities Act”). The Companies shares have not been, and will not be, registered under the Securities Act or the securities laws of any state or other

jurisdiction of the United States, and may not be offered or sold in the United States or to any US person without being so registered or pursuant to an exemption from registration including an exemption

for qualified institutional buyers.

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COMPANY OVERVIEW


Automotive Solutions Group Ltd (ASGL) listed on

the ASX in December 2016 (ASX ticker code :

4WD)

ASGL is a consolidation of fleet and automotive businesses

creating a vertically integrated designer, manufacturer,

distributor and retailer of parts, accessories and performance

technology for the 4x4/SUV sector

The initial portfolio represents a group of highly respected

and trusted brands sold and used throughout the

automotive industry over many decades

ASGL has a national network operating across four states,

with 11 sites and an extensive dealer network of ~260 across

Australia

CORPORATE SNAPSHOT

ASX CODE 4WD

ORDINARY SHARES ON ISSUE 50M

MARKET CAP (@$1) $50M

ENTERPRISE VALUE $46M

CASH AT BANK (AS OF 31 DEC 2016) $4.0M

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INVESTMENT HIGHLIGHTS


ASGL represents a significant portfolio of

highly respected and trusted brands sold

and used throughout the automotive

industry over many decades, for

recreational and commercial use, with a

strong track record and growth profile

Strong financial position with profitable

businesses generating revenue of $39

million in FY16 and forecasted to generate

revenue of $43 million in FY17.

Large market opportunity with potential

for significant success due to fragmented

market share in the industry

Portfolio of businesses are highly

complimentary for aggregation and

integration, including future growth

Experienced board and management with

a strong background in the automotive

industry

Clear growth strategy which includes

acquisitions, organic growth and

greenfield opportunities

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MARKET OPPORTUNITY

Growth in 4x4, SUV’s and Caravans in addition to growing expenditure on customising vehicles will fuel the

market for aftermarket parts and accessories


1 - https://www.fcai.com.au/library/new-vehicle-industry/fcai_a4_infographic-final.pdf

2 - http://www.caravanstats.com.au/_r767/media/system/attrib/file/57/2016%20Caravan%20and%20Campervan%20Data%20Report.pdf

ASGL has entered the market in a period of strong growth for

4X4/SUV’s with sales of both SUV’s and Light Trucks (which includes

4WD’s) growing rapidly and estimated to make up 60% of the market

by 20231.

ASGL also services the caravan and

campervan markets which remains

the fastest growing vehicle type in

Australia by registration with 4.9%

growth in 2016 and 25.5% growth

of registrations since 20112

25.5% GROWTH

Of caravan and

campervan registrations

since 2016

SHARE OF THE NEW LIGHT VEHICLE SALES

71.2% 13.1% 15.7%

2000

58.9% 19.7% 21.4%

2008

44.9% 34.8% 20.3%

2005

39.4% 39.4% 21.2%

2023

Car SUV Light truck

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https://www.fcai.com.au/library/new-vehicle-industry/fcai_a4_infographic-final.pdf

INDUSTRY OVERVIEW

The parts and accessories market is highly fragmented and there is plenty of room for a major player


• Automotive parts, retailing,

manufacturing and auto electrical market

revenues in Australia total $9.5 billion.

Parts and accessories represent $4.0

billion of this market

• Despite the size of the market and

favourable fundamentals, the aftermarket

industry for 4x4/SUV remains highly

fragmented with the most significant

existing player, ARB Corporation Limited

(ASX:ARB) holding a market share of

6.9%.

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CURRENT PORTFOLIO


• ASGL has contracted eight initial businesses specialising

in the 4X4/SUV category, based upon financial

performance, geographical location, strategic fit and

future growth opportunities. ASGL has a vertically

integrated supply chain from design and manufacture

through to retail, meaning every stage of a vehicles

lifecycle is covered.

• The consolidation of businesses has established a

national network operating across four states with 11

sites and an extensive automotive outlet network of

~260 across Australia.

• ASGL is the only listed design and manufacturer,

distributor, service provider and fitter of product

company with this truly national footprint

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OVERVIEW OF CURRENT PORTFOLIO


ECU remapping, electrical, 4wd

accessories, exhausts and mechanical

repairs

Conversion and modification

of vehicles

Performance Products including

Walkinshaw

Manufacturers and installers of 4X4 bull

bars, side steps, aluminium trays, ute

racks and roof rack accessories

4WD accessories 4wd accessories, vehicle service and

vehicle fit outElectronic and air conditioning

Manufacturers and installers of 4x4 bull

bars, side steps, steel products and

accessories

ALLOY MANUFACTURERSTEEL MANUFACTURER

WHOLESALE/DISTRIBUTORVEHICLE MODIFICATIONS

WALKINSHAW PERFORMANCEPERFORMANCE & TECHNOLOGY

ELECTRONICS & AIR CON. RETAIL

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FOUNDATION FOR GROWTH


• Initial portfolio was selected to complement each other for aggregation and

integration, providing a platform for long term future growth.

• Performance product network by JDR 4x4 enhancements, Walkinshaw and Roo

Systems and in house design and manufacture of supporting performance product

such as specialist exhaust systems

• Retail operations focus through all Group business supported by Umhauers, Uneek

and Deering retail chain

• Fitment of AMA and Barden manufactured product by Group entities including trays,

bull bars, tow packs and other 4x4/SUV products

• Wholesale and distribution network, importation of exclusive products by Dolium

into Group entities.

• Aftermarket accessory fitment by ASG 4x4 at time of 2nd tier manufacturer vehicle

modifications.

• Provides a vertically integrated model and control of the supply chain, improving

efficiency across the board and streamlining decision making.

• Each business offers a product or service that compliments the other businesses in

the portfolio, allowing a unique combination of specialisation and integration to

occur.

• Locations across Australia creates a strategic footprint and base for which expansion

can occur from.For

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INTEGRATION STRATEGY

The integration strategy is focusing on minimsing disruption to regular business and deriving synergies from

centralisation of administrative functions.

Management is currently undertaking a business-by-business review of the initial portfolio to develop a more

comprehensive understanding of opportunities to deliver broader operating improvements and benefits, with

freight and telecommunications savings estimated between 6% and 14%.


KEY INTEGRATION PRIORITIES FY17 STATUS

IMPLEMENT CENTRALISED ACCOUNTING SYSTEMS MANAGEMENT ✔

CENTRALISING OF TRAVEL, IT, HR AND LEGAL ✔

CROSS SELLING OF PRODUCTS ✔

COMBINED INSURANCE COVER FOR EACH PORTFOLIO BUSINESS ✔

IMPLEMENT NATIONAL SUPPLIERS ACROSS ALL BUSINESSES FOR UTILITIES ✔

COORDINATED SALES AND MARKETING STRATEGY IMPLEMENTED

INTEGRATE PROCUREMENT SYSTEMS ACROSS PORTFOLIO For

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GROWTH STRATEGY

ASGL has two strong growth levers; organic growth and growth by acquisition

11 Commercial in Confidence

ORGANIC

GROWTH

GROWTH BY

ACQUISITION

In order to drive organic growth across the

business ASG will use the following three

strategies;

• Leveraging existing assets

• Securing new business and contracts

• Innovation and new product development

ASGL has identified and will continue to pursue a

pipeline of potential acquisitions that could add

value to the existing operations. These acquisitions

will be considered in terms of how they meet strict

selection criteria which includes:

• Earnings accretive for ASG

• Geographical relevance

• Value-add to operational strategy

• Alignment to core business goals

• Human capitalFor

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REVENUE AND PROFIT


FY16

(PRO FORMA HISTORICAL)

YEAR ENDING 30 JUNE

2016

FY17

(PRO FORMA FORECAST)

YEAR ENDING 30 JUNE

2017

INCREASE

(FY16 – FY17)

REVENUE $39.9m $42.7m 7%

EBIT $6.021m $6.473m 7.5%

NPAT Refer Note 1 $4.6m n/a

ASGL’s initial portfolio is a group of proven successful businesses that is

forecast to generate more than $42 million in revenue in FY17

Note 1: Nil NPAT to report at 30 June 2016 as the consolidated entity was not in operation.For

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FROM STRENGTH TO STRENGTH


• Barden Fabrications long-term contract with Nissan to supply components and assemblies extended

for a further three years

• Barden has also secured a contract to manufacture and supply steel parts for the new Atlanta

Falcons NFL stadium in the US as well as being selected as a preferred metal parts supplier for a

number of major projects in Australia

• Roo Systems secures new three-year contract with a major QLD auto breakdown service provider

(Club Assist) that generates an annual turnover of more than $1 billion

• Roo Systems also increased its dealer network by adding eight new dealers since listing bringing the

total number to 58

• Alloy Motor Accessories (AMA) was granted approved supplier status by three dealer networks and

regional councils in Queensland making them the preferred provider in the supply and installation

of dealer and council products and services

• Launch of newly relocated ASG store in Warrnambool, Victoria featuring products from across the

ASG network as well as the first two concept vehicles to showcase the design and manufacturing

expertise of the Group along with the extensive range of parts, accessories and performance

technology

ASGL has made strong progress with the Company announcing the following achievements since its listing

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NEAR-TERM STRATEGIC FOCUS


MARCH 2017

MAY 2017

Expansion of dealer

network to >270

New contracts

secured across a

number of

businesses and

opening of

Warrnambool Store

Expansion of new

product range with

additional

distribution

network with a

number of

companies under

NDA discussions

JUNE 2017

JUNE 2017

Deliver on FY17 forecast

Revenue $42.7m

EBIT $6.473m

APRIL 2017Branding strategy

supported by

development and

spec vehicles

APRIL 2017Commencement

of realisation of

integration

deliverables

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PEER MULTIPLES VALUATION COMPARISON

ASGL represents a significant discount compared to listed peers in the automotive space or those with an

aggregator business model


AUTOMOTIVE COMPARISONS ASX CODE FWD P/E EV/EBIT MARKET CAP

AUTOMOTIVE SOLUTIONS GROUP LTD 4WD 10.5x 6.6x $50m

ARB GROUP ARB 22.7x 16.5x $1.40b

BAPCOR LIMITED BAP 21.5x 14.5x $1.48b

MOTORCYCLE HOLDINGS MTO 16.9x 13.1x $160.9m

AMA GROUP AMA 23.2x 16.9x $537.5m

AVERAGE 19.0x 13.5x

ASGL PREMIUM/(DISCOUNT) -45% -51%

AGGREGATOR BUSINESS MODEL COMPARISONS ASX CODE FWD P/E EV/EBIT MARKET CAP

AUTOMOTIVE SOLUTIONS GROUPL LTD 4WD 10.5x 6.6x $50m

PRIMARY HEALTH CARE PRY 18.4x 14.1x $1.72b

GREENCROSS LIMITED GXL 17.3x 11.9x $795m

G8 EDUCATION GEM 14.6x 10.8x $1.51b

AVERAGE 15.2x 10.9x

ASGL PREMIUM/(DISCOUNT) -31% -41%For

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BOARD AND MANAGEMENT


TOM PHILLIPS – CHAIRMANMr Phillips had a forty year career in the automotive industry before retiring as the CEO of Mitsubishi Motors Australia Limited in October 2005. Prior to joining Mitsubishi Motors he held senior

executive roles with Toyota Australia for 15 years where his last appointment was as director, sales and marketing. Since leaving Mitsubishi, Mr Phillips has held numerous board roles including

with Australia Post, Safework Australia and the South Australia Training and Skills Commission.

TANYA MASON – CHIEF EXECUTIVE OFFICER AND MANAGING DIRECTORMs Mason has more than 25 years experience in executive, senior finance and commercial management roles across both public and private companies in Australia and overseas. Ms Mason has

held senior roles including CFO and COO for Inter Mining Pty Ltd where she provided financial and strategic leadership for projects in South Africa, Singapore and Australia. She has also held CFO

and senior finance roles at Toll Aviation and Toll Air Express, QR National Limited (now Aurizon Limited), Woodside Energy and BHP Billiton. Ms Mason is also an avid 4x4 enthusiast and is an

active member of the Toyota Landcruiser Club of Queensland.

BRYCE WEDEMEYER – NON-EXECUTIVE DIRECTORMr Wedemeyer has held senior management roles within the private and public sector and has extensive experience in finance, investment markets, business management and law currently

works with Strategic Equity Alliance as a Corporate Advisor. Mr Wedemeyer’s experience has seen him take a lead role in a number of mergers and acquisitions, corporate restructurings and debt

and equity financing.

PETER ALEXANDER– NON-EXECUTIVE DIRECTORMr Alexander has more than 20 years experience in the automotive industry, starting his career as a motor mechanic before transitioning into finance and accounting where he worked in a

number of senior roles with IVECO Trucks and Subaru Australia. Most recently Mr Alexander has led the Australian and New Zealand wholly owned subsidiary of Polaris Industries (NYSE: PII) as

Managing Director. In this role he has been credited with turning an underperforming business into the most successful and highest volume Polaris business outside North America. In 2016 Mr

Alexander was appointed to the position of Vice President within Polaris Industries in addition to his role as Managing Director for Australia and New Zealand.

MARK LARKHAM – NON-EXECUTIVE DIRECTOR Mr Larkham is a well-known motorsport professional having had a successful career as a championship driver and team owner. During his time at the top

level of motorsport in Australia Mark was responsible for identifying, securing, managing and maintaining an annual multi-million income stream via

sponsorship, merchandising and endorsements. Mr Larkham has also served as a Director of V8 Supercars Australia and is currently a commentator for

Network 10’s motorsport coverage.

EVAN CAMILLERI – CHIEF FINANCIAL OFFICER AND COMPANY SECRETARY Mr Camilleri is an experienced finance professional with senior leadership experience in manufacturing, franchising, retailing and wholesale businesses, including in multi-site automotive and

operational businesses. Mr Camilleri has previously held senior finance roles in Mars Australia, Lion Nathan, Godfreys and most recently in a pioneering automotive joint-venture between Suncorp

and Capital S.M.A.R.T Repairs. Mr Camilleri was instrumental in driving the growth of the joint venture from a single concept to a $300m revenue business and held a number of roles within the

business including CFO and GM of Finance.

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TOP SHAREHOLDERS


NAME

BALANCE AS AT 24

FEB 2017

PERCENTAGE

HELD

J P MORGAN NOMINEES AUSTRALIA LIMITED 10,722,830 21.30

TIGER EQUITIES CONSULTING LTD 7,500,000 14.90

CODE CORPORATION PTY LTD 2,500,000 4.97

HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED 2,200,000 4.37

JOHN BRETT STOKES AND TANIA LEE STOKES 2,130,384 4.23

TANYA MASON 2,000,000 3.97

AUST EXECUTOR TRUSTEES LTD 1,605,667 3.19

BNP PARIBAS NOMS PTY LTD 1,556,997 3.09

TURNER COMMERCIAL HOLDINGS PTY LTD 1,350,000 2.68

POWERBOSS QLD PTY LTD 820,003 1.63

NAUTICAL ROOFING PTY LTD 800,000 1.59

A.M.M.S PTY LTD 643,559 1.28

NATIONAL NOMINEES LIMITED 441,243 0.88

UMHAUSERS OFFROAD & CAMPING WORLD (WARRNAMBOOL) PTY LTD 420,530 0.84

STRATEGIC EQUITY ALLIANCE PTY LTD 410,365 0.82

SUMMER VINE PTY LTD 400,000 0.79

MR STUART MCCLURE 375,000 0.74

VESTED EQUITIES PTY LTD 371,500 0.74

DOLIUM PTY LTD 281,473 0.56

BONDCROWN PTY LTD 250,000 0.50

Total 36,779,551 73.05For

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INVESTMENT SUMMARY


Initial portfolio are

proven successful

businesses which

have been selected

to complement each

other for

aggregation and

integration

Strong financial

position. ASGL is

forecast to achieve

pro forma revenue

and pro forma EBIT

of $42.7m and $6.5m

respectively in FY17

Further growth

opportunities

through organic

growth and strategic

acquisitions that will

increase geographic

footprint and add

additional support

products

Experienced board

and management

who bring significant

operational

experience in the

aftermarket

automotive retail

industry

Large market

opportunity with

potential for

significant success

due to fragmented

market share in the

industry

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Contact:

Tanya Mason – Chief Executive Officer

Phone: 07 3607 3836

Mobile: 0499 775 730

Email: [email protected]

Address: Eagle St Business Centre, Emirates House,

Level 9, 167 Eagle St Brisbane QLD 4000

CONTACT DETAILS

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