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Invocare Limited and Subsidiaries Appendix 4D (Rule 4.2A) Half Year Report for the Half Year Ended 30 June 2021

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Invocare Limited and Subsidiaries Appendix 4D (Rule 4.2A) Half Year Report for the Half Year Ended 30 June 2021 InvoCare Limited and subsidiaries Appendix 4D (rule 4.2A) Half year report For the half year ended 30 June 2021 INVOCARE LIMITED Appendix 4D Results for announcement to the market (All comparisons to half year ended 30 June 2020) Jun 2021 Up/(down) Movement $’000 $’000 % Revenue from continuing operations 260,855 30,531 13.3 Operating earnings after income tax attributable to ordinary equity holders of InvoCare Limited* 20,552 8,987 77.7 Net profit from ordinary activities after income tax attributable to ordinary equity holders of InvoCare Limited 43,856 61,861 343.6 Net profit after income tax attributable to ordinary equity holders of InvoCare Limited 43,856 61,861 343.6 * This is non-IFRS financial information and is reconciled to statutory profit in the Financial Report (Refer to Directors’ report in the Half Year Financial Report attached). Dividend information Franked Amount per amount per Franking share share credit cents cents % 2021 Interim dividend 9.5 9.5 100 Dividend dates For 2021 interim dividend to be paid, the dividend dates are as follows. Record date 3 September 2021 Payment date 7 October 2021 The Company’s Dividend Reinvestment Plan (DRP) will operate for the 2021 interim dividend by acquiring shares on market at no discount. Shares will be transferred to participants in accordance with the DRP Rules. The last time for the receipt of an election notice to participate in the DRP is 5:00pm on 6 September 2021. Eligible shareholders may lodge their DRP elections electronically by logging onto InvoCare’s share registry, Link Market Services, via their website at https://investorcentre.linkmarketservices.com.au and clicking on the link to Investor Login. Further information about the DRP may be found at https://www.invocare.com.au/investor-relations/for-shareholders/ Net tangible assets Jun 2021 Jun 2020 $ $ Net tangible asset per ordinary share 2.53 2.68 Net tangible assets include the net impact of the right of use assets and the corresponding lease liabilities accounted for under the requirements of AASB 16 Lease. Other information During the reporting period, InvoCare Limited: • had no change in investment in subsidiaries; and had no material interest in associates or joint ventures. Additional Appendix 4D disclosure requirements can be found in the half year financial report of InvoCare Limited for the half year ended 30 June 2021. This report is also to be read in conjunction with the Annual Report of InvoCare Limited for the year ended 31 December 2020 and any public announcements made by InvoCare Limited during the reporting period in accordance with the continuous disclosure requirements of the Corporations Act 2001 and the ASX Listing Rules. This report is based on the consolidated financial statements which have been reviewed by Deloitte Touche Tohmatsu. Page 2 INVOCARE LIMITED AND SUBSIDIARIES ABN: 42 096 437 393 HALF YEAR FINANCIAL REPORT For the half year ended 30 June 2021 INVOCARE LIMITED Half year financial report Financial report content Page Directors’ report 3 Directors 3 Company overview and principal activities 3 Operating and financial review 3 2021 outlook 12 Subsequent events 14 Auditor’s independence declaration 14 Rounding of amounts 14 Auditor’s independence declaration 15 Consolidated financial statements 16 Notes to the consolidated financial statements 24 Directors’ declaration 36 Independent auditor’s review report 37 2 INVOCARE LIMITED Directors’ report Your directors present their report together with the financial statements of the consolidated entity consisting of InvoCare Limited (the Company) and its subsidiaries (InvoCare or the Group) for the half year ended 30 June 2021 (HY2021). Directors The Directors of the Company at any time during or since the end of the half year are as follows. Directors were in office for the entire period unless otherwise stated. • Bart Vogel (Chairman) • Olivier Chretien (Chief Executive Officer and Managing Director, appointed 4 January 2021) • Keith Skinner • Megan Quinn • Richard Davis Kim Anderson (appointed 11 May 2021) Former directors • Martin Earp (resigned 4 January 2021) • Robyn Stubbs (resigned 1 February 2021) Jackie McArthur (retired 28 May 2021) Company overview and principal activities InvoCare Limited (listed on the Australian Securities Exchange, ASX:IVC), headquartered in Sydney, is a leading provider of at-need and pre-need funeral services in Australia, New Zealand and Singapore operating a portfolio of national and local brands in its network of over 300 locations. It also owns and operates 17 private memorial parks providing burial, memorialisation and cremation services. Following acquisitions in 2020, InvoCare is now also a leading provider of pet cremation services in Australia. Operating and financial review InvoCare business strategy reset On 12 May 2021, InvoCare announced to shareholders its reset strategy to 2025, which is designed to deliver on its purpose of ‘Honouring life, celebrating memories for generations’. In resetting the strategy, an opportunity was identified to first, extract greater value from the business InvoCare has today, and then, use this as a strong and sustainable foundation for growth. There are five pillars to the strategy, the objectives, targeted outcomes and key measures of success are outlined for each below: Customer led, people empowered This first pillar is about being customer-centric in everything that we do and empowering our frontline teams. By better engaging and empowering our people we can maintain our exceptional Net Promoter Score (NPS) and generate customer advocacy, while building a great, safe, and inclusive place to work. With a high proportion of sales driven through referrals, InvoCare prides itself on constantly working to raise the quality of its service standards, as reflected in the NPS, which is +79.3 at the end of HY2021, the highest result in 3 years. 3 INVOCARE LIMITED Directors’ report InvoCare’s Your Say Employee Engagement survey was conducted in the first half of 2021, giving our employees a forum to provide feedback on what we are doing well, and where there are areas for improvement. Insights from the survey are being cascaded across the business, with teams building targeted action plans in support of the feedback provided. With continued investment in the development of local leaders, InvoCare successfully launched the Evolve Management Development Program. In partnership with Harvard University, this program delivers targeted development content aligned to the key capabilities needed by frontline managers. Around 60 of our local leaders will have participated in the program by the end of 2021. Operational excellence This pillar considers the Group’s operating model, network performance, costs and capital discipline. The Group has focused on rejuvenating its funeral facilities as part of the network and brand optimisation (NBO) facilities upgrade program in recent years, a program that is due for completion in the next 12 months. The Group will now focus on execution of a more streamlined operating model to extract efficiencies. The Group has also started developing its use of information technology to enhance our customer service offerings via digital platforms. The Group commenced a review of its syndicated debt facility at the end of the June 2021, which completed in August 2021. This is a key step to ensuring the Group has access to a flexible funding arrangement that will support the execution of the five-year strategy. Its nature as a revolving cash advance facility is also intended to bring discipline to the Group’s cash management activities. Stronger core growth Each business will be focusing on its share of value by expanding the range of services offered to client families – rather than focusing on market share in volume (i.e. cases) only. This includes a renewed focus on pre-paid funerals to underwrite future long-term growth in the Funeral services business. New growth platforms and innovation The fourth strategic pillar aims at expanding the Group’s addressable market into higher growth adjacencies. This includes expanding the pet cremations business and positioning the Group to create value for customers along their lifetime journey. This will include investment in adjacencies, with the aim to become a partner of choice notably through more business- to-business (B2B) opportunities, and a drive to innovate, including through digital channels. The aim is to make the InvoCare business portfolio more defensible, through harder to replicate standards or investment in scarce assets; this will include looking at property options, particularly in the Cemeteries & Crematoria business. The Group recently announced that a subscription agreement has been signed with the digital memorialisation company Memories Group Limited. This strategic partnership and investment is a key step forward in realising the Group’s aspirations in digital innovation, aligned with its vision of honouring life and celebrating memories of a loved one, which in this case are digital. Work has commenced in leveraging the Group’s leading position in private memorial parks with a significant multi-year burial agreement signed in HY2021 with a cohort of local community groups in NSW, supporting the burial needs of those community groups for many years to come, and demonstrating that expanding our connection across all community groups is pivotal for an ever-changing demographic in Australia. The Group has also commenced leveraging its national footprint in pet cremations
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