Announcement PDF 1 ASX Announcement | 29 October 2026 Spacetalk Ltd (ASX: SPA) Quarterly Activities Report, Business Update and Appendix 4C for the quarter ended 30 September 2026 Landmark TPG Telecom Agreements Executed and UK Telco MOU Signed, $10.0m placement completed Mobile Subscribers Up 20% on PCP to 61.4k Spacetalk Ltd (ASX: SPA) (“Spacetalk” or “the Company”) reports 20% year-on-year growth in active Mobile subscribers and progress on its software-led family safety strategy for the quarter ended 30 September 2026 (1QFY27). The Company provides the following operational update and Appendix 4C, including details of quarterly revenue of $3.1m, closing cash balance of $5.2m and its priorities for commercial execution. Summary trading update During the September 2026 quarter Spacetalk signed two transformational agreements with TPG Telecom Limited (ASX: TPG) announced on 6 July 2026. The agreements validate the Company’s strategy of building a software-led family safety platform and establishing a scalable commercial model that combines connected devices, mobile connectivity and recurring B2C and B2B software services delivered initially to Vodafone Australia and then to other international telecommunication companies. Non-binding Memorandum of Understanding (MOU) with a UK-based telco The Company also entered into a non-binding Memorandum of Understanding (MOU) with a UK-based telecommunications operator to explore the deployment of the Spacetalk App and platform across its mobile subscriber base. The proposed partnership would leverage the Company's family safety platform enabling the establishment of permission-based household connections which provides the operator with customer insights, supporting the operator's customer acquisition, engagement and retention strategies. It will also create opportunities to increase customer lifetime value through additional mobile and broadband subscriptions, device sales and App subscriptions. Commercial discussions are progressing toward finalising a monetisation model aligned with customer adoption and value creation. The MOU represents a further opportunity to extend the 2 Company's software-led B2B distribution model internationally, building on the commercial framework established through its Vodafone Australia agreement. New device variants to enhance product offering improve margins The Company entered into a supplier agreement to introduce three new device variants. The first is expected to launch in 2QFY27, followed by additional variants in 3QFY27 and 4QFY27, respectively. The new devices will feature enhanced functionality, while benefiting from more favourable unit economics. The new variants are expected to deliver an improvement in device gross margins of approximately 10 percentage points or more compared with existing products, subject to product and sales mix. Planned exit of the Schools business The Company intends to exit its legacy Schools business during 2QFY27, following the progressive migration of Western Australian schools to a government platform and the continued run-off of the remaining customer base. The Schools business contributed revenue of $101k in 1QFY27, with ARR declining to $0.4m. The planned exit represents a further step in the Company's strategic transformation, enabling greater focus and resource allocation towards its software-led family safety platform, including Spacetalk Mobile, the Spacetalk App and its growing telecommunications partnerships. The Company will work closely with remaining customers to facilitate an orderly transition and will provide further updates on the exit process, as appropriate. Revenue for the quarter declined 32% year-on-year to $3.1m (1QFY26: $4.5m), primarily due to lower device revenue, alongside the continued strategic wind-down of the legacy Schools business and lower App revenue. The decline in device revenue was predominantly attributable to temporary supply chain constraints that impacted the timing of order fulfilment, rather than underlying customer demand. Industry-wide shortages of printed circuit boards (PCBs) and related components, driven by increased demand from artificial intelligence and data centre infrastructure, together with disruptions associated with the conflict in the Middle East, extended manufacturing lead times during the quarter. Consequently, the Company was unable to fulfil certain existing customer orders before quarter-end, with these orders subsequently fulfilled following the close of the quarter. The Company has since taken steps to mitigate future supply chain exposure, including securing new device variants expected to enter the market during the year. Spacetalk Mobile revenue increased 4% year-on-year, supported by continued growth in mobile subscriber numbers. Recurring revenue represented 79% of total revenue, compared with 62% in 1QFY26. Recurring revenue was $2.4m, down 13% year-on-year, with the higher proportion partly attributable to lower device sales during the quarter. The growing Mobile subscriber base, together with the Vodafone Australia software agreement, supports the Company’s strategy to build subscription revenue across connected devices, connectivity and family safety software. 3 During the quarter, the Company continued to invest in the Spacetalk App, platform and underlying data and technology stack, with $1.1m of capitalised development investment in 1QFY27 (1QFY26: $0.8m). This investment supports App and platform functionality, customer experience and scalability, the development of data analytics and online safety features, and the technical integration required to deliver the TPG Telecom and Vodafone Australia agreements. The commercial focus is to translate these capabilities into product launches, improved customer offerings and recurring software revenue. The Company looks forward to providing further updates as it progresses the execution of its strategic growth roadmap and advances key commercialisation initiatives. Financial Highlights: • Active Mobile Subscriber Growth: Spacetalk Mobile (MVNO) active subscribers reached 61.4k at 30 September 2026, up 20% from 51.3k in 1QFY26. • Annual Recurring Revenue (ARR) Performance: ARR was $9.7m in 1QFY27 (1QFY26: $11.4m), down 15%, primarily reflecting the continued wind-down of the legacy Schools business and lower App ARR. Mobile ARR grew 4% year-on-year. New App premium features and tiered pricing are intended to support App monetisation commencing in Q2FY27. The Vodafone Australia agreement provides for contracted minimum recurring software fees from the first year of the agreement, which are expected to more than replace the Schools revenue within the first year, creating a new enterprise software revenue stream as the legacy Schools business winds down. Its contribution will depend on the contractual commencement terms and the delivery of the co-branded App. The TPG Telecom (Vodafone Australia) App agreement is expected to begin contributing recurring software revenue as the subscriber adoption ramp progresses, and the Company is actively advancing a number of additional telecommunications partnership discussions at various stages of maturity including a non-binding MOU agreement signed with a UK Telco. Spacetalk Mobile ARR increased by 4% to $8.1m (1QFY26: $7.8m) and represents 84% of total ARR, up from 69% in 1QFY26. The Company expects bundled Mobile and App subscriptions to benefit from tiered App pricing, new digital safety features and the improved wholesale economics and plan flexibility available under the TPG Telecom agreement. • Revenue performance for the quarter: Revenue for 1QFY27 was $3.1m, down $1.4m or 32% from $4.5m in 1QFY26. Lower device revenue, lower App revenue and the continued run- down of Schools were partially offset by growth in Spacetalk Mobile. Gross profit was $1.5m (1QFY26: $2.3m), at a gross margin of 47% (1QFY26: 50%). Mobile revenue grew 4% to $2.0m, with gross profit of $1.0m and a gross margin of approximately 50%, demonstrating the contribution of the subscription business during a weaker device quarter. 4 • Recurring revenue represented 79% of total revenue (1QFY26: 62%) , highlighting the resilience of our subscription base as device revenue declined during the period. • Operating Payments (excluding Inventory and service enabling costs): Operating payments excluding inventory and service enabling costs were $4.7m in 1QFY27, compared with $4.3m in 1QFY26. The increase reflected targeted investment to support the transition to a software-led model. In parallel, approximately $3.5m of annualised cash cost savings are being implemented progressively across FY27 and were only partially reflected in the quarter’s payments. • Scalable Telco SaaS Model: On 6 July 2026, the Company signed binding agreements with TPG Telecom Limited (ASX: TPG), including a commercial agreement under which Vodafone Australia will launch and market an exclusive co-branded family safety and digital wellbeing offer powered by Spacetalk’s software platform, and a strategic MVNO wholesale agreement to migrate Spacetalk Mobile to the TPG Telecom wholesale mobile network that delivers better economics. The Company also entered into a non-binding MOU agreement with a UK based telecommunication company and is currently progressing the commercial discussions to establish the framework for a potential partnership. Spacetalk Chief Executive Officer and Managing Director Simon Crowther said: “The September quarter was another milestone for the Company as we shifted our focus from securing landmark commercial agreements to executing on the opportunities they create. Our agreements with TPG Telecom and Vodafone Australia fundamentally reshape our business, establishing a clear pathway to generating recurring software revenue at scale through a major telecommunications operator, while providing a scalable commercial model that can be replicated with telecommunications partners globally including a non-binding MOU agreement entered into with a UK based telco. “Our Mobile subscriber base grew 20% year-on-year to 61.4k, expanding the customer base for our connected family safety offering. Mobile revenue grew 4%, while recurring revenue represented 79% of total revenue. Group revenue was temporarily affected by device supply constraints and the continued managed reduction in Schools and controlled reset of App revenue, and our focus is to convert our growing Mobile base and signed commercial agreements into recurring revenue growth. Our new premium features including tiered pricing enabling in app monetisation available during Q2 is expected to drive increased ARR. The completion of our $10.0m placement strengthened our cash position and supports investment in the platform, product development and the execution of our commercial priorities. 5 “Our priority for the remainder of FY27 is firmly focused on execution and delivering the next phase of growth with further updates expected soon on the delivery of our growth roadmap. This includes completing the technical integration and phased migration of Spacetalk Mobile subscribers onto TPG’s mobile network, launching the co-branded Vodafone Australia family safety App with enhanced online safety and digital wellbeing features, and leveraging these landmark partnerships to advance software distribution opportunities with telecommunications operators across APAC, Europe and North America. “With new device variants expected to enter the market from 2QFY27 contributing increased margins of approximately 10 percentage points or more depending on sales mix, and the pilot of Sibyl the Company’s predictive health and fall detection hardware and software solution, scheduled for 2HFY27, we are entering an important phase in our transformation, focused on translating the investment in our technology platform and strategic partnerships into sustainable recurring revenue growth and long-term shareholder value.” Recurring revenue Active Spacetalk Mobile subscribers reached 61.4k at 30 September 2026, up 20% on 1QFY26 (51.3k). 0.5 6.9 12.0 16.2 18.2 28.6 31.9 34.0 40.0 45.6 49.1 51.3 51.3 57.4 57.9 60.6 61.4 - 10.0 20.0 30.0 40.0 50.0 60.0 70.0 Subscriber Numbers in 000s Global Active Mobile Customers Growth 6 • ARR from Spacetalk Mobile increased by 4% to $8.1m (1QFY26: $7.8m), supported by an increase in the subscriber base. The Company remains focused on scaling the Mobile offering, with bundled App access providing customers with connectivity and family safety functionality in one subscription. Improved wholesale terms and greater plan flexibility under the TPG agreement are expected to support customer value and Mobile economics as migration progresses. • ARR from the App decreased 45% year-on-year to $1.2m (1QFY26: $2.2m). The decline reflects international subscribers in natural run-off following the Company’s exit from international retail channels approximately three years ago. In Australia, App access has been bundled with Mobile subscriptions, supporting Mobile subscriber growth rather than standalone App monetisation. The decline in App ARR is expected to be temporary, with the Vodafone Australia co-branded App, new digital safety features and tiered subscription pricing providing opportunities to extend the App’s reach and paid offering. Future subscriber and revenue growth will depend on launch timing, customer adoption and the value customers place on the additional functionality. • ARR from Schools declined to $0.4m (1QFY26: $1.4m), principally reflecting the planned migration of Western Australian schools to a government platform. The Company intends to exit the Schools business during 2QFY27, enabling greater focus and resource allocation towards its software-led growth strategy. The Vodafone Australia agreement, which introduces contracted minimum software fees and a scalable - - - 3.4 5.6 7.8 8.1 1.7 2.9 4.0 3.5 2.3 2.2 1.2 2.7 2.4 2.5 2.0 1.9 1.4 0.4 4.4 5.3 6.5 8.8 9.8 11.4 9.7 - 2.0 4.0 6.0 8.0 10.0 12.0 14.0 - 2.0 4.0 6.0 8.0 10.0 12.0 14.0 1Q21 1Q22 1Q23 1Q24 1Q25 1Q26 1Q27 Millions ($) Annual Recurring Revenue (ARR) Growth Spacetalk Mobile App Schools ARR 7 telecommunications distribution model, represents an important step in replacing legacy Schools revenue with higher-value enterprise software revenue. Income and Gross Profit Highlights: 1Q27 1Q26 PCP Change in $'000s in $'000s '%' Product Revenue Gross Profit Revenue Gross Profit Revenue Gross Profit Spacetalk Mobile 2,032 1,026 1,952 1,014 4% 1% Apps 294 223 520 379 (43%) (41%) Schools 101 75 319 264 (68%) (72%) Recurring sub-total 2,427 1,324 2,791 1,657 (13%) (20%) Devices 648 130 1,717 594 (62%) (78%) Corporate 2 2 2 2 - - TOTAL 3,077 1,456 4,510 2,253 (32%) (35%) Gross Profit Margin 47% 50% Key movements • Revenue declined by 32% year-on-year to $3.1m in 1QFY27 (1QFY26: $4.5m), primarily due to lower device revenue, the run-off of legacy Schools revenue and lower App revenue, partially offset by growth in Spacetalk Mobile. • Device revenue decreased 62% year-on-year to $648k in 1QFY27 (1QFY26: $1.7m). The decline primarily reflects industry-wide shortages of printed circuit boards and related components, which extended manufacturing lead times and deferred a portion of device orders into 2QFY27. • Spacetalk Mobile revenue increased 4% year-on-year to $2,032k in 1QFY27 (1QFY26: $1,952k), supported by subscriber growth and partly offset by plan mix and the timing of net new activations. Mobile gross profit was $1,026k (1QFY26: $1,014k), a gross margin of approximately 50%. Migration to the TPG wholesale network during FY27 is expected to improve wholesale economics and provide greater flexibility to develop targeted plans. The objective is to offer customers better value while supporting revenue per subscriber and margins over time. 8 • Apps revenue declined 43% year-on-year to $294k in 1QFY27 (1QFY26: $520k). Most Australian smartwatch customers receive App access with a Spacetalk Mobile subscription, while international subscribers continue to run off. The Company is developing new digital safety features and tiered pricing to broaden its paid App offering. These initiatives, together with the Vodafone Australia launch, are expected to support future App user and subscriber growth, subject to delivery and customer uptake. • Schools revenue declined by 68% year-on-year to $101k in 1QFY27 (1QFY26: $319k), in line with expectations, as the business managed the legacy software offering in run-off mode while state governments progressively switch to other student management system providers. Cashflow from Operating & Investing Activities • Operating Cash Flow: Net cash used in operating activities was $3.8m in 1QFY27, compared with $3.0m in 1QFY26. Customer receipts were $3.4m (1QFY26: $4.5m). Inventory and service enabling payments were $2.5m (1QFY26: $3.3m), with other operating payments of $4.7m (1QFY26: $4.3m) reflecting investment in the software-led model. Management expects progressive cost savings, improved wholesale terms and new software revenue to support lower operating outflows; the timing and scale of improvement depend on implementation and customer adoption. • Net cash used in investing activities was $1.1m in 1QFY27 (1QFY26: $0.8m), comprising $1,066k of capitalised development and intellectual property investment and $27k of property, plant and equipment. Investment supported the Company’s platform capabilities and development required for the TPG Telecom and Vodafone Australia launch. These investing cash flows are separate from the operating cash outflow reported above. Financing Activities: • During the quarter, the Company completed its $10.0m placement announced on 5 August 2026, strengthening its funding position for platform development, inventory, wholesale migration, new devices and working capital. Tranche 1 comprised 34,581,000 shares (approximately $2,594k) issued under existing Listing Rule 7.1 capacity; Tranche 2 comprised 98,752,333 shares (approximately $7,406k) issued following shareholder approval in September 2026. Cash and cash equivalents were $5.222m at 30 September 2026 (30 June 2026: $0.879m). At the quarter’s operating cash outflow rate, available funding equates to 1.4 quarters. Item 8.6 explains management’s expectations for operating cash flows and its assessment of the funding position. 9 Related Party Payments Payments to related parties and their associates during the quarter totalled $159k, comprising remuneration paid to Directors for salaries, directors’ fees, consulting fees and superannuation. These payments were included in operating activities and are disclosed in Appendix 4C item 6.1. No related party payments were included in investing activities. To keep up to date with company news and announcements visit investorhub.spacetalk.co. For further information or investor enquiries, please contact: Spacetalk Ltd (ASX: SPA) Simon Crowther CEO and Managing Director investors@spacetalk.co www.spacetalk.co ABOUT SPACETALK LTD Spacetalk Ltd (ASX: SPA) develops and sells hardware and software to provide safety at every stage of life. Spacetalk offers families a suite of solutions: Australia’s best-selling Kids Smart Watches (GFK Report July 2024: Total Sales of Kids Smartwatch in Australia), Spacetalk Mobile, Spacetalk App, and Adult Wearables. The Spacetalk ecosystem provides freedom with peace of mind. To learn more, please visit: www.spacetalk.co FORWARD-LOOKING STATEMENTS This announcement may contain forward-looking statements. These statements are based on Spacetalk's expectations, estimates, and projections at the time the statements are made. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Actual outcomes and results may differ materially from those expressed or implied in these forward-looking statements. Spacetalk undertakes no obligation to update these statements for events or circumstances occurring after the date of this announcement. Rule 4.7B ASX Listing Rules Appendix 4C (17/07/20) Page 10 + See chapter 19 of the ASX Listing Rules for defined terms. Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B Name of entity Spacetalk Ltd ABN Quarter ended (“current quarter”) 93 091 351 530 September 2026 Consolidated statement of cash flows Current quarter $A’000 Year to date (3 months) $A’000 1. Cash flows from operating activities 3,399 3,399 1.1 Receipts from customers 1.2 Payments for - - (a) research and development (b) product manufacturing and operating costs (2,462) (2,462) (c) advertising and marketing (220) (220) (d) leased assets (64) (64) (e) staff costs (1,870) (1,870) (f) administration and corporate costs (2,538) (2,538) 1.3 Dividends received (see note 3) - - 1.4 Interest received - - 1.5 Interest and other costs of finance paid (1) (1) 1.6 Income taxes paid - - 1.7 Government grants and tax incentives - - 1.8 Other - - 1.9 Net cash from / (used in) operating activities (3,756) (3,756) 2. Cash flows from investing activities 2.1 Payments to acquire or for: (a) entities - - (b) businesses - - (c) property, plant, and equipment (27) (27) (d) investments - - (e) intellectual property (1,066) (1,066) (f) other non-current assets - - Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B ASX Listing Rules Appendix 4C (17/07/20) Page 11 + See chapter 19 of the ASX Listing Rules for defined terms. Consolidated statement of cash flows Current quarter $A’000 Year to date (3 months) $A’000 2.2 Proceeds from disposal of: - - (a) entities (b) businesses - - (c) property, plant, and equipment - - (d) investments - - (e) intellectual property - - (f) other non-current assets - - 2.3 Cash flows from loans to other entities - - 2.4 Dividends received (see note 3) - - 2.5 Other (provide details if material) - - 2.6 Net cash from / (used in) investing activities (1,093) (1,093) 3. Cash flows from financing activities 9,904 9,904 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) 3.2 Proceeds from issue of convertible debt securities 500 500 3.3 Proceeds from exercise of options - - 3.4 Transaction costs related to issues of equity securities or convertible debt securities (719) (719) 3.5 Proceeds from borrowings - - 3.6 Repayment of borrowings (500) (500) 3.7 Transaction costs related to loans and borrowings - - 3.8 Dividends paid - - 3.9 Other (provide details if material) - - 3.10 Net cash from / (used in) financing activities 9,185 9,185 4. Net increase / (decrease) in cash and cash equivalents for the period 879 879 4.1 Cash and cash equivalents at beginning of period 4.2 Net cash from / (used in) operating activities (item 1.9 above) (3,756) (3,756) 4.3 Net cash from / (used in) investing activities (item 2.6 above) (1,093) (1,093) Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B ASX Listing Rules Appendix 4C (17/07/20) Page 12 + See chapter 19 of the ASX Listing Rules for defined terms. Consolidated statement of cash flows Current quarter $A’000 Year to date (3 months) $A’000 4.4 Net cash from / (used in) financing activities (item 3.10 above) 9,185 9,185 4.5 Effect of movement in exchange rates on cash held 7 7 4.6 Cash and cash equivalents at end of period 5,222 5,222 5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts Current quarter $A’000 Previous quarter $A’000 5.1 Bank balances 4,734 718 5.2 Call deposits 488 161 5.3 Bank overdrafts - - 5.4 Other (provide details) - - 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above) 5,222 879 6. Payments to related parties of the entity and their associates Current quarter $A'000 6.1 Aggregate amount of payments to related parties and their associates included in item 1* 159 6.2 Aggregate amount of payments to related parties and their associates included in item 2 - * Aggregate amount paid to all Directors of the entity including salary, directors fees, consulting fees and superannuation. Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B ASX Listing Rules Appendix 4C (17/07/20) Page 13 + See chapter 19 of the ASX Listing Rules for defined terms. 7. Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. Total facility amount at quarter end $A’000 Amount drawn at quarter end $A’000 7.1 Loan facilities 3,600 3,600 7.2 Credit standby arrangements - - 7.3 Other (please specify) - - 7.4 Total financing facilities 3,600 3,600 7.5 Unused financing facilities available at quarter end NIL 7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well. KEY TERMS: Debt Facility: $3.6m • Interest rate: 9.50% • Maturity date: 30 June 2027 Covenants: • The Group’s minimum cash balance must remain at $750,000 at all times. • EBITDA covenants: Specific targets to be met quarterly from 30 June 2025 onwards. Warrant: • Total warrants of 11,000,000 shares, comprising 9,000,000 warrants exercisable at $0.07 per share, expiring on 31 March 2027; and 2,000,000 warrants exercisable at $0.07 per share, expiring on 31 December 2026. 8. Estimated cash available for future operating activities $A’000 8.1 Net cash from / (used in) operating activities (item 1.9) (3,756) 8.2 Cash and cash equivalents at quarter end (item 4.6) 5,222 8.3 Unused finance facilities available at quarter end (item 7.5) - 8.4 Total available funding (item 8.2 + item 8.3) 5,222 8.5 Estimated quarters of funding available (item 8.4 divided by item 8.1) 1.4 Note: if the entity has reported positive net operating cash flows in item 1.9, answer item 8.5 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.5. Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B ASX Listing Rules Appendix 4C (17/07/20) Page 14 + See chapter 19 of the ASX Listing Rules for defined terms. 8.6 If item 8.5 is less than 2 quarters, please provide answers to the following questions: 8.6.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not? Answer: No. In the short term, the Company expects net operating cash outflows to reduce from the level reported in 1QFY27 as the following initiatives are delivered. The timing and extent of improvement will depend on implementation, product launch timing and customer adoption: New devices: Next-generation kids devices are expected to be lower cost to manufacture, improving device gross margin, with new devices expected to start rolling out from 2QFY27. Cost base optimisation: The cost reduction initiatives identified following the review of the Company’s cost base, representing annualised cash cost savings of approximately $3.5m, are being implemented progressively across FY27 and were only partially reflected in 1QFY27 operating payments. Vodafone Australia software agreement: The agreement provides for minimum monthly active user software fees, with revenue expected to commence as the co-branded App is launched and adoption progresses. The model is expected to provide a higher-margin software revenue stream than devices, without incremental device inventory investment. Revenue and cash receipt timing remain subject to the contractual terms and delivery of the service. TPG Telecom MVNO wholesale agreement: The new wholesale network agreement provides improved wholesale economics relative to the previous arrangement, together with greater commercial flexibility to develop targeted customer offers on TPG's Mobile Digital Network. Over the medium to long term, operating cash flows are expected to benefit from the following: Telecommunications partnerships: The Company is in discussions with global telecommunications providers regarding distribution of its family safety platform. Additional agreements could extend distribution and create recurring software revenue opportunities. These discussions remain prospective; revenue and delivery costs would depend on the terms of any agreements executed. New Products: ‘Sibyl’, the predictive health and fall safety product developed with UNSW and NeuRA, targets a new addressable market across B2C and B2B channels, with a pilot scheduled for 2HFY27. Plan flexibility under the TPG agreement: The TPG platform removes the constraints on plan construction that applied under the previous arrangement, allowing the Company to offer a wider range of price points and better segment its customer base. Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B ASX Listing Rules Appendix 4C (17/07/20) Page 15 + See chapter 19 of the ASX Listing Rules for defined terms. 8.6.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful? Answer: Yes. The Company has taken, and proposes to take, the following steps: Capital raise: The Company completed a $10.0m placement during the quarter (announced 5 August 2026), with cash and cash equivalents of $5.2m at 30 September 2026. The Company continues to engage with interested investors and major shareholders in relation to further capital should it be required to support its strategic objectives. Proceeds are being applied to enhanceme