New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>With the first four months of trading already released, it is unlikely that EBOS Group's (EBO) 1H24 result will surprise.</li><li>We expect it to be a typically solid result. Key focus areas are: (1) cost out initiatives in light of the pending Chemist Warehouse (CW) contract loss (or at least commentary on the outlook), (2) pharmacy industry dynamics, and (3) M&amp;A outlook/strategy in light of the considered Greencross deal in November.</li></ul>

With the first four months of trading already released, it is unlikely that EBOS Group's (EBO) 1H24 result will surprise.We expect it to be a typically solid result. Key focus areas are: (1) cost out initiatives in light of the pending Chemist Warehouse (CW) contract loss (or at least commentary on the outlook), (2) pharmacy industry dynamics, and (3) M&amp;A outlook/strategy in light of the considered Greencross deal in November.

EBOS Group - 1H24 Preview — Costs & Chemist Warehouse

Ebos Group Ltd

EBOS Group - 1H24 Preview — Costs & Chemist Warehouse