Pacific Smiles Group (PSQ) AGM Presentation 2024 summary

Recent company activities and strategic direction

• Achieved strong patient fee growth in FY24 and Q1 FY25, even amid corporate takeover interest.

• Refreshed board and management, including appointing a new CEO and planning to add an Australian-based dentist.

• Board unanimously recommends shareholders reject Genesis Capital's takeover offer.

• Strategy update scheduled for Q3 FY25, with accelerated initiatives to drive organic growth.

• Board confident in delivering long-term shareholder value with refreshed leadership.

Genesis Bidco takeover offer update

• Genesis Bidco increased its all-cash offer to $1.9825 per share and declared the offer unconditional and best and final.

• Offer closes 29 November 2024 unless Genesis Bidco gains over 50% voting power or a competing proposal emerges.

• As of 18 November 2024, Genesis Bidco holds 32.11% voting power.

• Board continues to recommend shareholders take no action on the offer.

FY24 financial and operational highlights

• Patient fees grew to $291.8m in FY24, with underlying EBITDA at $28.2m.

• Dentist turnover improved to 13.9%, and employee turnover to 13.1%.

• Staff-to-practitioner ratio improved to 2.07, and net cash position increased to $17.7m.

• Patient Net Promoter Score remained high at 90.