New Brand Identity and Operational Update

NEW BRAND IDENTITY FOR CARPET BUSINESS AND OPERATIONAL UPDATE

• New Bremworth brand identity leads Cavalier’s transformational strategy towards sustainable, interior solutions business.
• Exit from synthetic carpet market well-advanced.
• Q1 results up on previous year.
• Sales revenues for first quarter of FY21 have continued to be stronger than anticipated when the Company first came out of COVID-19 Level 4 lockdown in April.
• Further reduction in net debt to $1.4m as at end of October 2020, putting the Company in a strong position from which to execute the transformation.
• Sale and leaseback of the Auckland property, with the net proceeds to be invested in supporting the new strategy, remains underway.

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