FOS Capital 1Q25 Update

Dear Investor,

We have just released a trading update for 1Q25, which shows our sales have increased 194% yoy to $8.3m.

This growth has been driven by increased activity across multiple infrastructure projects, and pleasingly organic growth remains very strong at 125% yoy.

We continue to take market share, and the current level of Orders on Hand and Active Quotes provide good visibility heading into 2Q25 and beyond.

Our focus remains on product development and rationalisation, and we continue to consider several accretive, strategic acquisitions.

Hopefully I will see you at our upcoming AGM, to be held in Melbourne on Tuesday 29 October 2024 (details of which have been distributed to the ASX).

Kind Regards,

Con Scrinis