Dear Partners, Customers, Suppliers, Investors, Colleagues and Friends.

As 2022 draws to a close, we all tend to reflect on the past year. Although we have ventured into 2022 with good confidence that matters would return to a more normal environment, the entire Group still experienced the year, at least in the first six months, as disruptive. The impact of a volatile economic market was felt. Various obstacles in the form of the aftermath of the pandemic, inflation, component shortages and price increases on raw material influenced a variety of aspects in the industry and markets in which Alaris is operating. In addition, projects were delayed.

Fortunately, the year has not only brought doom and gloom, but significant milestones were also accomplished during the period in review. In February, a landmark change took place for Alaris Holdings in that the Group delisted from the JSE AltX with the intent to relist on an international platform in future. As per the acquisitive growth strategy which has been shared over the past 18 months, we were able to extend our global footprint, with the acquisition of Kuhne electronic in Germany.

Geopolitical instability and negative spillovers from the war in Ukraine, had a significant impact on growth in major markets. As a result of the geopolitical instability, various countries, especially in Europe, have increased their defense spending. This is viewed as a considerable opportunity for the Group and Alaris is well-positioned to provide technologically advanced products to address the needs and provide solutions to concerns countries have.

We would like to sincerely thank our partners and customers for your valued support and your confidence in the Alaris Group of companies, our products and services, our people and our technologies.

Our suppliers we thank for the untiring effort in supplying components and goods to us, even under pressured circumstances.

To all our investors and shareholders, and fellow board members I wish to extend a word of appreciation for your commitment to Alaris, your continued support and faith in our ability to grow the business.

A company is as strong as its people. It is therefore that I would like to extend my sincere gratitude to the staff of the entire Group for their dedication, perseverance and commitment in a challenging year. At the end, we can look back and know that we have done what we could to ensure a stable outcome for each subsidiary and for the Alaris Holdings Group. We are very grateful to all our colleagues and their families for the outstanding support received this year. Although various pressures are experienced, you pulled through and remained focused on the tasks at hand – I thank you for that!

Looking forward, all indications are that the market is picking up again and I remain confident the Alaris Group is destined for significant achievements and we are excited about the future and the opportunities that lie ahead.

On behalf of Alaris Antennas, COJOT, mWAVE, Alaris USA, Linwave and Kuhne electronic, as well as the Alaris Holdings Board, we would like to wish you all a happy festive season. Further, a healthy and prosperous New Year and we are looking forward to working with you again in 2023 to achieve new heights and success.

Best regards