Trading Update

ASX Release
18 November 2022

                                                   Trading Update

Key Performance Indicators

          The Agency Group                  4 months to    4 months to      Increase
                                            31 Oct 2022    31 Oct 2021     Period on
                                                                             Period
    Gross Commission Income (M)                $30.8             $34.2        -10.0%
    No. of Properties Sold                     1,861             1,878         -0.9%
    Value of Properties Sold (Bn)               $1.7              $2.0        -12.8%
    No. of Agents                               415               340       +75 Agents
    Listings                                   2,152             2,072         +3.8%

      •   Despite the contracting national market transacting volumes of -15.1% 1, better than system
          performance with movement in properties sold of -0.9%. This has led to increased market share of
          national transactions.
      •   Although we are increasing national market share, reduction in sale prices is the main contributor to
          lower Gross Commission Income.
      •   Notwithstanding a softer market environment, to ensure future growth is not inhibited,
          management have remained committed to invest in initiatives that ensure solid foundations. During
          the 1H FY23, these include a branding refresh, data consolidation strategy, data security review and
          establishment costs relating to MDC Trilogy Group. Costs are also being impacted by inflationary
          pressures. These initiatives and along with inflation have result in increased operating expenses.
      •   Operating Costs are in line with plan, however the reduction in revenue against plan is likely to result
          in an EBITDA Pre AASB 16 in 1H FY23 up to negative $1.0m.
      •   Management intends to continue focusing on investing in future growth initiatives in 2H FY23
          however has commenced a number of cost reduction actions which the company will see a benefit
          of in 2H FY23 and FY24.

                                                          ENDS

Announcement authorised for release by the Board of The Agency Group Australia Limited.

If you require further information, please contact:

    Investors                                               Media
    The Agency Australia Ltd                                Chapter One Advisors
    Geoff Lucas                                             David Tasker / Colin Jacoby
    T: +61 02 8376 9100                                     T: +61 433 112 936 / +61 439 980 359

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