QUICKSTEP TO ACQUIREBOEING AUSTRALIACOMPONENT REPAIRSMedia Release: 13th November, 2020
Quickstep Holdings Limited (ASX: QHL) (Quickstep or Company), Australia’s leading independent
carbon fibre composites manufacturer, today announced that it has agreed terms for the purchase of Boeing
Defence Australia’s aerospace maintenance, repair and overhaul (MRO) capability based in Tullamarine,Victoria.

Under the terms of the Asset Purchase Agreement, Quickstep (through its wholly-owned subsidiary,
Quickstep Aerospace Services Pty Ltd) will acquire operating assets plus inventories and certain customer
contracts from Boeing Australia Component Repairs Pty Ltd (BACR). Quickstep will also make offers tocertain BACR employees and will take on employee liabilities for transferring employees and certain otherbusiness liabilities.

A top tier Australian bank has committed to funding the purchase as part of a refinancing package for
Quickstep’s existing long term loan, offering a reduced margin.

Completion is expected around the end of 2020 and is subject to Quickstep obtaining certain necessary
regulatory approvals related to the operation of the facility. It is anticipated that the acquisition will be EPS
accretive by year two.

BACR manages a wide range of composite, bonded and conventional metal aircraft structures for bothcommercial and military operators using leading edge equipment and state-of-the-art MRO know-how. The
team has recent experience working with Boeing, Airbus, Embraer and Bombardier aircraft, F/A-18A/B
Classic Hornets, F/A-18F Super Hornets, C-130J Hercules and CH-47 Chinooks. Quickstep intends toleverage its existing relationships and capabilities to broaden the scope of MRO work offered to include F-35 and other military and commercial work. Key approvals include all major regulatory bodies - CASA, FAA,EASA and DASR and Quickstep is working towards obtaining these certifications.

Quickstep CEO and MD, Mark Burgess and Boeing Defence Australia VP and MD, Scott
Carpendale signing the Asset Purchase Agreement.

Separate to the Asset Purchase Agreement, Boeing Defence Australia and Quickstep have agreed tocommence discussions on a long term agreement that, if entered into, would develop a broader, ongoingcollaboration in both the military and commercial aerospace segments, covering new production andsustainment of existing aircraft types.

Commenting on the acquisition Mark Burgess, CEO of Quickstep said “We are delighted to soon be
welcoming highly capable aerospace employees from the BACR business to Quickstep. The acquisition ofthis important national capability aligns well to our business strategy, positions us to grow our defence
sustainment business and opens up new opportunities in the high value commercial aftermarket as we movetoward post-pandemic recovery.”“We’re pleased that this agreement will offer Quickstep – a well-established and highly capable Australiancompany – the ability to grow its unique sovereign capability to the benefit of regional commercial anddefence customers,” said Scott Carpendale, vice president and managing director of Boeing Defence
Australia.

“We look forward to continuing to work with Quickstep on new opportunities to increase their support ofBoeing customers locally and globally.”

This announcement was approved by the Board of Quickstep Holdings Limited.

ABOUT QUICKSTEP HOLDINGS
Quickstep Holdings Limited (ASX: QHL) is
Australia’s leading independent carbon fibre
composites manufacturer, operating fromstate-of-the-art aerospace manufacturing
facilities at Bankstown Airport in Sydney,
NSW, a manufacturing and R&D/processdevelopment centre in Geelong, Victoria anda representative office in Houston, USA. The
group employs more than 270+ people inAustralia

andinternationally.

MoreFOR FURTHER INFORMATION:
Mark Burgess - Managing Director
Quickstep Holdings Limited
Tel: +61 (2) 9774 0300
E: mburgess@quickstep.com.au

Alan Tilley - Chief Financial Officer
Quickstep Holdings Limited
Tel: +61 (2) 9774 0300
E: atilley@quickstep.com.au_____________________________________

information about Quickstep is available

Quickstep Holdings Limitedat www.quickstep.com.au.

361 Milperra Road,
Bankstown Aerodrome,
NSW 2200

Forward looking statements: This release contains forward-looking statements and information that are necessarily subject to risks,
uncertainties and assumptions. Many factors could cause actual results, performance or achievements of the Company to be materially different
from those expressed or implied in this release including, amongst others, changes in general economic and business conditions, regulatoryenvironment, exchange rates, results of advertising and sales activities, competition, and the availability of resources. Should one or more ofthese risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary materially from those describedin this release. Except as required by law, the Company assumes no obligation to update or correct the information in this release. To themaximum extent permitted by law, the Company and its subsidiaries and officers do not make any representation or warranty as to the likelihoodof fulfilment of any forward-looking statements and disclaim responsibility and liability for any forward-looking statements or other information inthis release.

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