Announcement PDF Global leader in smart security and sensing technologies FY25 Results AVA RISK GROUP 27 August 2025 INTRODUCTIONS David Cronin CORPORATE SNAPSHOT Key Metrics Market capitalisation (as at 25 August 2025) Share price (as at 25 August 2025) Shares outstanding Top 20 Shareholders Top 20 Holdings (at 6 August 2025) Name of Shareholders $23.5M $0.081 290.5 million 51% Number of shares % of issues share capital 1 BELL POTTER NOMINEES LTD 31,950,717 11.0% 2 BNP PARIBAS NOMS PTY LTD 15,979,254 5.5% 3 MR STEPHEN ROSS CAREW 15,000,000 5.2% 4 13,459,338 HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED 4.6% 5 BANNABY INVESTMENTS PTY LIMITED 9,948,859 3.4% 6 DIXSON TRUST PTY LIMITED 9,032,306 3.1% 7 VALWREN PTY LIMITED 6,000,000 2.1% 8 VALWREN PTY LIMITED 6,000,000 2.1% 9 CHAG PTY LTD 5,930,769 2.0% 10 BFA SUPER PTY LTD 11 MR DAVID MALCOLM SOUTH 4,612,850 1.6% 4,250,000 1.5% 12 BNP PARIBAS NOMS PTY LTD 13 MARK IAN TIBBENHAM 4,160,978 1.4% 3,600,000 1.2% 14 GOVINDARAJALOO NARASIMOOLOO 15 BFA SUPER PTY LTD 3,180,027 1.1% 3,000,000 1.0% 16 GOLDRUSH FUND PTY LTD 17 MR ATHAR JAMEEL BHUTTO 3,000,000 1.0% 2,677,777 0.9% 18 CHERYL LEE TAPANES 19 BANNABY INVESTMENTS PTY LTD 2,600,000 0.9% 2,560,244 0.9% 20 MR RUOBING ZHANG 2,158,723 0.7% 149,101,842 51.3% 3 AGENDA 1 PERFORMANCE & STRATEGY FY25 2 FINANCIAL PERFORMANCE 3 OUTLOOK 4 PERFORMANCE & STRATEGY Mal Maginnis FY25 FINANCIAL HIGHLIGHTS Meaningful progress in delivering on key growth metrics Revenue EBITDA1 Gross Margin • Revenue up 5% underpinned by improved Detect performance. $31.7m $2.1m 64% Up 5% on pcp Up $3.0m on pcp Up 4% on pcp • Increased Gross Margin with Detect revenue driving gross margin improvement. • Growing Recurring Revenue of $2.6m, up 30% compared to prior year. Sales Opportunity Pipeline >$88m Sales backlog Cash $6.4m $5.6m Down from $8.5m in pcp Well-funded for growth • EBITDA turnaround on reduced and scalable cost base, up $3.0m to positive $2.1m • Cash of $5.6m at 30 June 2025 supports business expansion Expected close dates in FY26 1. EBITDA is profit / (loss) after tax adjusted for depreciation and amortisation, impairment of goodwill, finance expense and foreign exchange movements 6 GLOBAL LEADER IN RISK MANAGEMENT TECHNOLOGIES Protecting high value assets and critical infrastructure globally DETECT ILLUMINATE ACCESS Fibre optic intrusion detection systems Security and intruder detection equipment High security access control technology • Perimeter intrusions • Telecommunication networks • Pipeline intrusion • Condition monitoring • Data network protection • Products, services and recurring revenue model • Outdoor security sensors • LoRa wireless system developed • Surveillance solutions • Video illuminators • Camera analytics • Off-the-shelf & custom products • • • • Access control readers High security locking Custom encryption Biometric solutions • Off-the-shelf & custom products. • Highly encrypted for security conscious end users. World-leading portfolio of complementary premium solutions and technologies Strong competitive position underpinned by Ava’s IP, OEM and distribution relationships, and wealth of data for machine learning Trusted by some of the world’s most discerning security conscious customers – commercial, industrial, military and government sectors Flexible commercial models with growing recurring revenues 7 SENSING BEYOND SECURITY Building on success in existing deployments in multiple infrastructure types USE OF SOLUTIONS FOR SENSING APPLICATIONS • Identifying and responding to a threat at the perimeter, or within a facility. • Managing personnel access to restricted areas. • Securing critical assets and buildings. Example of solutions at an Airport AVA RISK GROUP’S SOLUTIONS DETECT • Borders, Perimeters, Critical Infrastructure. • Data investigation on patterns of intrusion. • Data generation and analytics using existing fibre networks targeting telecommunications sector. ILLUMINATE • Supports Detect’s smaller physical sites, targeted customer designs, illuminate CCTV images, identifying activity. ACCESS • Protect key infrastructure assets and strengthen vulnerable access points. DETECT ILLUMINATE ACCESS 8 DRIVING GROWTH IN FY26 AND BEYOND Building on our market verticals and geographies with sophisticated global partners DETECT SALES OPPORTUNITY PIPELINE (A$M) Proven technology • Aura Ai-X • LoRa Connect wireless system • YD30 Cobalt series • Growing recurring revenue via subscription Enhanced commercial capability with high profile, quality partners • Telstra • dormakaba • UGL • Other key partners • Siemens • Total Pipeline with expected close dates in FY26 remains greater than $88.5m (excludes telco sector orders) • Opportunities across key geographies – APAC, Americas, Europe and Middle East. • Growth in recurring revenue of 30% to $2.6m ARR under contract • 11 opportunities > $1m ($18m of the pipeline) • Sell subscription contract with every sale of Aura Ai-X • Pipeline excludes Access / Illuminate, expected to deliver revenue of $10m in FY26. 30% growth in annual recurring revenue: 9 HIGH QUALITY PARTNER AND END USER BASE Strong network of OEM and distributor relationships worldwide 10 FY25 PROVIDES A STRONG FOUNDATION FOR GROWTH • Continued investment in our market leading technologies, particularly Aura Ai-X with development of telecommunication and shorter perimeter applications. • Group revenue of $31.7m, up 5% on previous year driven by improved Detect performance (+17%). • Significant EBITDA growth - strong gross margin and reduced operating costs demonstrate scalability of EBITDA margins. • • Sales order intake of $29.9m and sales order backlog of $6.4m to support growth in FY26. Cash balance of $5.6m on 30 June 2025 driven by cash generation of $0.5m in FY25, Group well funded for growth. $31.7m Total revenue / income up 5% $2.1m EBITDA growth $6.4m Sales order backlog leveraging stable cost base and strong gross margin deliver revenue in FY25 $5.6m Cash balance cash positive in FY25 and funded to deliver on projects 11 DETECT DRIVING GROWTH Significant progress deploying Aura Ai-X since its launch Aura Units Sold 85 2025 Aura Ai-X Launched (March 2023) 80 • Advanced Deep learning Module 75 • New Install and training Modules 70 • Recurring revenue subscription 2024 65 • SIL2 accreditation 60 • First major border deployment 2023 55 50 45 Revenue Gross Margin EBITDA $21.1m 70% 18% Up 17% on pcp 40 • FY25 ARR growth 30% 12 FOCUS ON KEY SECTORS AND GEOGRAPHIES High-value, strategically significant projects across multiple sectors • In APAC, we continue to secure home-grown wins, including Oil and Gas and major transportation infrastructure such as Sydney Metro and Western Sydney Airport, demonstrating our expertise in this area. • In North America, federal government projects, corrections and oil and gas solutions reinforce our credibility, long-term presence and , highlight our ability to protect critical energy infrastructure, while defense projects globally remain a key growth focus. • In the Middle East we have outstanding clients in Oil and Gas, Airports, critical Infrastructure and Borders • These examples underscore FFT’s trusted technology, strong partnerships, and scalable solutions across diverse geographies and sectors. 13 Case Study: CRITICAL EUROPEAN BORDER – TWO PHASES Background This European government faced a surge in attempted illegal border crossings, with 29,707 incidents last year. Securing a 235 km stretch was challenging due to varied terrain, shared infrastructure, and frequent nuisance alarms from incumbent competing system. Authorities needed a reliable, scalable solution. Solution Aura Ai-X was deployed in buried and fencemounted configurations, using deep learning to navigate complex perimeters, including concertina wire. Outcome Due to incredible reduction in nuisance alarms (>2 per day) and increase in probability of detection (POD), additional Aura Ai-X controllers were deployed along the remaining (500+ km) border replacing the failed incumbent competitor. The video, released by an independent European media source, quickly gained widespread attention. It demonstrates Aura Ai-X’s effectiveness, showing security personnel on scene in under 30 seconds. 14 Case Study: DUBAI INTERNATIONAL AIRPORT, UAE BACKGROUND Dubai International Airport, one of the world’s busiest airports, spans 7,200 acres (2,900 hectares) with a 16 km perimeter. Managing such a large, high-traffic site requires highly reliable perimeter security. CHALLENGE The airport faced frequent nuisance alarms from a legacy PIDS controller. Operators needed a system capable of maintaining a POD above 95% while keeping nuisance alarms incredibly low, all without disrupting existing security infrastructure. SOLUTION FFT deployed Aura Ai-X, customising the deep learning algorithm using global installation data to filter environmental noise such as jet blasts. The system was rigorously tested and immediately exceeded expectations. Multiple Aura Ai-X units now secure the airport perimeter. 15 Case Study: WOODSIDE, INTEGRATED GAS PLANT, AUSTRALIA BACKGROUND Woodside’s Karratha Gas Plant (KGP) is a world-class integrated gas production facility in Western Australia, producing LNG, domestic gas, condensate, and LPG. The onshore plant spans over two square kilometres and connects to the offshore LNG platform via a 3.2 km interconnector pipeline. CHALLENGE To optimise system architecture and address intermittent interference affecting legacy systems, Woodside sought a next-generation PIDS capable of reducing system complexity while maintaining robust perimeter security. SOLUTION Aura Ai-X replaced legacy Controllers, reducing the number of systems needed and allowing a single fibre optic cable to monitor both fence and gates. FFT Secure Point was deployed to secure the nearby Mt Wongama Communication Tower, supporting critical telecommunications on the Burrup Peninsula. 16 Case Study: SYDNEY METRO, AUSTRALIA BACKGROUND Sydney Metro is Australia’s largest public transport project, building, operating, and maintaining four metro lines, 46 stations, and 113 km of new metro rail. CHALLENGE The project required a Corridor Intrusion Detection System (CIDS) and Obstacle Detection System (ODS) for the Southwest line from Sydenham to Bankstown. These systems ensure safe train operations as the corridor transitions to Unattended Train Operations. SOLUTION Aura Ai-X was chosen for its advanced intruder and obstacles identification, triggering CCTV verification for realtime operator response. This system is the first of its kind in Australia, setting a benchmark in rail safety technology. Due to the strength of our partnership, service quality, and trusted performance, Aura Ai-X has also been deployed along the Western Line and at the Western Sydney Airport project which is part of the biggest urban rail infrastructure investment in Australian history. 17 FY25 FINANCIAL SUMMARY Neville Joyce GROUP FINANCIAL SUMMARY $Am Revenue Gross Profit Gross Margin Underlying EBITDA1 EBITDA Margin D&A Impairment of Goodwill Finance / FX Tax Profit / (loss) after tax FY25 31.7 20.3 64% 2.1 7% (3.5) (5.6) (0.1) 0.7 (6.5) FY24 30.2 18.1 60% (0.9) -3% (2.5) (1.5) (0.3) 0.0 (5.2) Var 1.5 2.2 4% 3.0 10% (1.1) 0.2 0.7 (1.3) • Moderate revenue growth of 5% driven by improved Detect performance which is up 15% compared to previous year • Improved gross margin of 64% within target range of 60%-64%: higher gross margin at consolidated level due to growth in higher-margin Detect revenue • Reduced and stable operating cost base following completion of organisation restructure, with decreased operating costs of $0.7m compared to the previous year. • Significant improvement in EBITDA driven by lower cost base and improved gross margin • Earnings inflection point following investment in technology and commercial capability; strong leverage potential as revenue builds. 1. Underlying EBITDA is profit / (loss) after tax adjusted for depreciation and amortisation, impairment of goodwill, finance expense and foreign exchange movements per Consolidated Statement of Comprehensive Income. 19 REVENUE PROFILE BY SEGMENT AND TYPE Revenue by Segment 25.0 20.0 21.1 18.1 15.0 10.0 5.5 5.0 6.6 6.4 4.1 Detect Access FY24 Illuminate Detect: • Revenue growth (+17%) underpinned by further Aura Ai-X deployment, particularly in key sectors and verticals • Average gross margin ~ 70%. Illuminate: • Consistent revenue with the prior year, some improvement in H2 FY2025 with stronger OEM demand, particularly in North America • Average gross margin ~ 42% FY25 Revenue by Type 30.0 Access: • Decline driven by lack of repeat dormakaba orders in U.S.. Focus on driving volume in Europe and the US in FY2026. • Average gross margin ~ 52%. Revenue by Geography 25.0 Rest of the World 20.0 United States 15.0 Europe 10.0 APAC 5.0 Product Services FY24 FY25 Recurring - 2.0 4.0 6.0 FY24 FY25 8.0 10.0 12.0 20 GROUP BALANCE SHEET $A’000 Cash and cash equivalents Receivables Inventories Intangibles / PP&E Other assets TOTAL ASSETS Payables Provisions Borrowings Other liabilities TOTAL LIABILITIES TOTAL EQUITY 30 Jun 2025 30 Jun 2024 Movement 5.6 5.1 0.5 6.8 6.6 9.3 1.2 29.6 2.5 1.5 1.7 1.7 9.0 6.6 14.6 0.8 36.1 2.9 1.4 2.2 1.7 (2.2) 0.0 (5.2) 0.5 (6.5) (0.4) 0.1 (0.4) 0.0 7.4 8.1 (0.7) 22.2 27.9 (5.8) • Movement in cash per cash flow statement. • Reduced receivables due to achievement of contract milestones on UGL contract and lower Q4 revenue compared to the prior year. • Reduction in Intangibles driven by impairment charge against remaining Goodwill in the Illuminate segment ($5.6m). This is partly offset by continued technology investment during FY25. • Borrowings relate to working capital facilities and Covid-19 support loans in the Illuminate segment. 21 GROUP CASH FLOW Working Capital Movement Development / Capital Expenditure Repayment of Borrowings Finance, Tax charges Other (incl FX) Movement in Cash A$m 4.1 (3.0) (0.4) (0.2) (0.1) 0.5 Opening Cash Closing Cash 5.1 5.6 • Favourable cash movement during the year driven by improved working capital position. • Improved working capital reflecting completion of invoicing milestones on the UGL contract and collection of other receivables. • Continued investment in technology reflected in development and capital expenditure. Development expenditure driven largely by investment in Aura Ai-X platform. 22 OUTLOOK STRONG GROWTH CATALYSTS IN EACH SEGMENT Developing sales pipeline in key industry verticals and growing recurring revenue base DETECT Aura Ai-X: Setting the Standard in Critical Infrastructure Protection • • • • The solution of choice for oil & gas, energy, aviation, transportation, corrections, and more First international border protected – global interest is rapidly growing. Developed three new technologies to support growth within traditional PIDS as well as adjacent applications • Aura Ai-XS for short range, and XSB for shallow buried applications – both powered by deep learning • Aura Ai-XLBand unit – first unit successfully deployed with Telstra • Aura Ai-XPhase to broaden opportunities in telecommunication sector SIL2 accredited, opening new opportunities in transportation and other industries while validating reliability and safety ACCESS ILLUMINATE • Success with selling combined Illuminate and Detect solutions in educational facilities and corrections currently in N America • LoRa achieving market position with Detect • Expand product sales in North America and Asia Pacific via established channels • Demand increasing for the YD30 locks via dormakaba’s vast and quality distribution network • Developed YG80B Bluetooth lock for gates, containers and roller doors • More dormakaba countries now purchasing the lock through their main DC, expanding its global reach 24 STRONG GROWTH OUTLOOK LEVERAGES EXISTING COST BASE Substantial opportunity remain in core markets to drive growth throughout FY26 $m FY2024 FY2025 Movement Total Revenue 30.2 31.7 1.5 Gross Profit 18.1 20.3 2.2 GM% 60% 64% 4% (19.0) (0.9) (18.2) 2.1 0.8 3.0 -3% 7% 10% Opex Underlying EBITDA* * Underlying EBITDA is profit before tax adjusted for depreciation and amortisation, impairment of goodwill, finance expense and foreign exchange movements. Drivers of growth in FY26: • Expected revenue growth of 20%+ in FY26 based on strong sales pipeline • Adjacency revenues slower to materialise due to reliance on partners but remain a growth opportunity • Gross margin expected to be maintained at around 64% • Operating cost base is stable – no more than 5% growth in operating expenses to deliver revenue growth in FY26 • EBITDA margin for FY26 expected to be in double digits • Cash flows and balance sheet provide funding to drive scalable global operation 25 COMPELLING CASE FOR INVESTMENT Leading technology with scalable model and organisational capability to support growth plans TRACK RECORD OF GROWTH AND RESULTS • • • FY25 revenue growth of 5% STRONG COMPETITIVE ADVANTAGES • Strong Technical Solutions, competitive position with growing investments in innovation, AI and deep learning High gross margins – circa 60% - 65% Trusted by blue chip and government customers • Market experienced commercial, technology and leadership team • Strong repeat customer interactions with customised, flexible and scalable solutions HIGHLY SCALABLE MODEL GLOBAL OPPORTUNITY • • • • Blue chip customer base and long-term recurring revenue potential Efficient, scalable go-to-market strategies which include key distributor partners • Target revenue growth of 20%+ in FY26 with operating leverage • Well-placed to become a global leader in smart digitisation for security and asset protection, thousands of products installed in +70 countries Emerging global partnerships with large multinationals Existing global revenue base 26 CLOSING Mal Maginnis QUESTIONS Investor enquiries: alexandra.abeyratne@sodali.com FORWARD LOOKING STATEMENTS This presentation is given on behalf of Ava Risk Group Limited (AVA) Information in this presentation is for general information purposes only, and is not an offer or invitation for subscription, purchase, or recommendation of securities in AVA. Certain statements in this document regarding the Company’s financial position, business strategy and objectives may contain forward-looking statements (rather than being based on historical or current facts). Any forward-looking statements are based on the current beliefs of the Company’s management as well as assumptions made by, and information currently available to, the Company’s management. Forward-looking statements are inherently uncertain and must be read accordingly. There can be no assurance that the underlying assumptions will prove to be valid. All data presented in this document reflects the current views of the Company with respect to future events. Forward-looking statements are subject to risks, uncertainties and assumptions relating to the operations, results of operations, growth strategy and liquidity of the Company. To the maximum extent permitted by law, the Company, its officers, employees and agents do not assume any obligation to release any updates or revisions to the information (including any forward-looking statements) in this presentation to reflect any change to expectations or assumptions and disclaim all responsibility and liability for any loss arising from reliance on this presentation or its content. 29