Ann: SciDev 2024 AGM Chairman's Address, page-2

Very interesting read this year:
FY24 saw particularly strong results from our Energy Services division, and I expect strong
tailwinds for this business over the next few years as a result of the incoming administration in the
US. The Mining and Construction division also had a solid year. The Water Technologies division
has been investing for growth over the last two years, and we are seeing the early results of that,
with revenue doubling over the last year.
Shareholders have asked whether we will need to raise capital to fund ongoing working capital
for the business. With the positive cash flows and the working capital facility, I do not believe this
will be the case. That said given the financial strength and positive momentum of the business
there is now the potential to consider acquisitions in the future provided they make sense from a
strategic and financial perspective.