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Investor Presentaiton

STRIX TECHNOLOGY Net Debt Investor Presentation | FY2021 Final Results Net debt At 31 December 2021 Net debt/ adjusted EBITDA (1) ratio at 31 December 2021 Net working capital draw from trough to peak £51.2m 1.3x £37.2m at 31 December 2020 1.0x at 31 December 2020 £11.3m £37.2m at 31 December 2020 Cash and facility headroom At 31 December 2021 Bank covenant requirement: Net debt/ adjusted EBITDA (2) ratio Maximum intra year 2021 working capital draw £28.8m With facility termination date of October 2025 <2.5x for period ending 31 December 2021 39% of cash and facility headroom at 31 December 2021 1 Net debt excludes the impact of IFRS 16 lease liabilities, pension liabilities, deferred taxes and earn-out provisions on satisfaction of performance conditions. As at 31 December 2021, IFRS16 lease liabilities equated to £3.4m, and amounts accrued for performance and employment earn out provisions equated to £5.8m & £1.7m, respectively. 2 For Bank covenant purposes, the net debt/adjusted EBITDA ratio is calculated pre-IFRS16 adjustments following its adoption by the Group on 1 January 2019. Strix TECHNOLOGY 11
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