Avingtrans : Interim Results Presentation 6 months ended 30 November 2024

About this update from Avingtrans Plc

Results for 6 months ended 30 November 2024 Steve McQuillan, CEO Stephen King, CFO Financial highlights Group Revenue Gross Profit Margin £79.0m 30.0% FY24 1H: £65.2m FY24 1H: 31.6% Adjusted Diluted EPS Interim Dividend* 12.0p 1.9p FY24 1H: 11.7p FY24 1H: 1.8p Interim Dividend - Currently proposed Net Debt impact of IFRS 16 removed Adjusted EBITDA £8.7m FY24 1H: £7.3m Net Debt** £8.9m 31 May 2024: Net debt £6.1m 2 Our divisions and brands Advanced Engineering Systems (AES) Medical and Industrial Imaging (MII) 2017 2019 2004 2012 2023 2019 2018 Revenue (£m) Adjusted EBITDA (£m) 76.8 11.0 63.7 8.5 FY24 H1 FY25 H1 FY24 H1 FY25 H1 2017 2021 Revenue (£m) 2.2 1.5 FY24 H1 FY25 H1 2018 2023 Adjusted EBITDA (£m) (0.6) (1.7) FY24 H1 FY25 H1 3 Strategy Pinpoint Invest Exit • Focus on targeting highly • People • Return value to shareholders regulated markets. • Facilities and equipment • Fund new acquisitions • Grow existing businesses • Technology and IP • Fund research and through bolt-on acquisitions • Routes to market development of new products 4 Our proven strategy in action - Pinpoint Strengthening the portfolio A Gear Metering Pump The Group acquired the S&P assets for £4.1m in August 2023 S&P manufacture specialist gear metering pumps Extends product portfolio - including aftermarket offering Modern, well-invested leased site in Kegworth, UK Additional service and support centres in the USA and China Supply chain fully stabilised after administration process Recovery continues, new products being launched 5 Our proven strategy in action - Invest Developing world class products • Adaptix - making compact 3D X-ray systems Vet dental 3D Xray scan • Magnetica - making compact helium-free MRI systems • Initial markets are orthopaedic, veterinary and NDT* • High-quality product images commended by customers • Multiple distributors appointed by Adaptix, mainly in the UK and USA • Magnetica continues to prepare for US FDA 510(k) submission Coronal wrist MRI scan Adaptix: Scottish facility now fully up and running. Yield increasing. Magnetica: scaling up for production in new premises in Australia and USA * NDT = Non-Destructive-Testing 6 Our proven strategy in action - Exit Building and returning shareholder value PB acquired for c£9m as part of HTG in 2017 Exit of PB for enterprise value of £35m in March 2021 Gross return on original capital investment almost 4X 3 rd successful exit for Avingtrans since 2013 Avingtrans is committed to profitable growth and to business exits at advantageous valuations. Proceeds can either be returned to shareholders, or redeployed for continued growth in shareholder value. Energy markets continue to be robust and M&A activity remains strong in this sector. We are confident about the current strategic direction and potential future Exit opportunities. 7 Divisional priorities - AES Advanced Engineering Systems (AES) division Hayward Tyler, Slack & Parr, Energy Steel Markets Nuclear - on-going life extension focus Further contract wins in USA and EU "life extension" market Next Generation - TerraPower contract advancing to plan In discussion with other Small Modular Reactor (SMR) players Hydrocarbons - oil and gas orders still solid Chinese Market continues to expand strongly Focus on aftermarket. Targeting 3 rd party products Defence - further Government contracts won at HT Luton Fibres - S&P customers stable and new prospects are being cultivated Facilities Optimising use of HT sites Sale process for Luton site has been paused for now TerraPower technician with HT molten salt pump 8 Divisional priorities - AES (cont.) Metalcraft, Ormandy, Booth, Composite Products Ormandy • Markets AquaModule Nuclear decommissioning (Metalcraft) 3M3 box contact continuing to build production volumes Defence (Booth) - on-going work on UK Government contracts Infrastructure (Booth) - £36m HS2 contract proceeding to plan, plus additional £4.5m contract won, post period end HVAC 1 (Ormandy) - record order book with increased aftermarket sales Recorded best results since acquisition. HEVAC/HES fully integrated Composites - focus on industrial customers, like Rapiscan Facilities - Metalcraft unit for NRS 2 (formerly Magnox) contract progressing well Products - range expansion at Booth and Ormandy. Nuclear focus at Metalcraft 1 - HVAC = Heating, Ventilation and Air Conditioning 9 2 - NRS = Nuclear Restoration Services Divisional priorities - MII Magnetica, Scientific Magnetics, Tecmag and Adaptix Medical and Veterinary Imaging Convergent orthopaedic / veterinary market focus Total addressable imaging market estimate is circa $7bn Further investments in Magnetica (MRI) and Adaptix (3D X-ray) Multiple distributors being appointed in the UK and internationally New product concept for ViewRay underway NMR - steady progress on Tecmag spectrometer sales and service Science - niche magnet & cryogenic product sales continuing to build Facilities Magnetica and Tecmag scaling-up production in new premises Adaptix: factory in Scotland fully up and running. Yield improving. Products MRI system: now anticipating 510(k) FDA approval in H2 2025. Adaptix marketing orthopaedic and vet products, building volume Adaptix also had further sales for non-destructive testing (NDT) product 3D X-ray scanner 10

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