AVA RISK GROUP LIMITED AND ITS CONTROLLED ENTITIES Appendix 4D AND CONSOLIDATED FINANCIAL REPORT FOR THE HALF-YEAR ENDED 31 DECEMBER 2025 Lodged with the ASX under Listing Rule 4.2.A.3 ABN: 67 064 089 318 ASX CODE: AVA Registered Office: 10, Hartnett Close, Mulgrave VIC 3170 Australia www.theavagroup.com AVA RISK GROUP LIMITED ABN: 67 064 089 318 Table of Contents ASX APPENDIX 4D Results for announcement to the market 1 Other information 1 DIRECTORS' REPORT Directors’ Report 3 Auditor’s Independence Declaration 6 CONSOLIDATED FINANCIAL REPORT Consolidated Statement of Profit or Loss and Other Comprehensive Income 7 Consolidated Statement of Financial Position 8 Consolidated Statement of Changes in Equity 9 Consolidated Statement of Cash Flows 10 Notes to the Consolidated Half-year Report 11 Directors’ Declaration 20 Independent Auditor’s Review Report 21 AVA Risk Group Limited ABN: 67 064 089 318 Details of the reporting period and the previous corresponding period Reporting period Half Year Ended 31 December 2025 Previous Corresponding Period Results for announcement to the market Amount of 2025 2024 Change % change 31 December 31 December movement $000 $000 $000 Consolidated revenue from operations down 17% (2,986) 14,045 17,031 Loss after tax attributable to shareholders down 5,026% (1,156) (1,179) (23) EBITDA* down 67% (1,053) 523 1,576 * Earnings from continuing operations before interest, tax, depreciation and amortisation (unaudited). Reconciliation of EBITDA H1 FY25 H1 FY26 Change Underlying EBITDA 1,653 (196) (1,849) Foreign Exchange gain / (loss) (77) 719 796 Reported EBITDA 1,576 523 (1,053) Depreciation & Amortisation (1,708) (1,893) (185) Finance Expense (139) (116) 23 Tax (Expense) / Benefit 248 307 59 Loss After Tax (23) (1,179) (1,156) Dividends and Distributions Current reporting period Amount per share $ nil Previous corresponding period Amount per share $ nil Details of dividends/distribution reinvestment plan The Company does not have a dividend reinvestment plan. Half Year Ended Year Ended 31 December 2024 30 June 2025 AVA Risk Group Limited ABN: 67 064 089 318 Net tangible assets per security 2025 2025 31 December 30 June cents cents Net tangible asset backing per ordinary security 4.06c 4.75c Details of associates and joint venture entities The Company did not have any associated entities or joint ventures during the period. Other significant information Refer to the Directors' Report for details on other significant matters and information regarding the Consolidated Entity. Commentary on significant features of operating performance Commentary on Results is included in the attached Directors' Report and the accompanying Group Financial Statements. Directors' Report The directors present their report together with the financial report of the consolidated entity consisting of Ava Risk Group Limited and its controlled entities (the “Company”, “Ava” or “Ava Risk Group”) for the half-year ended 31 December 2025 and independent review report thereon. Directors' Names The names of the directors in office at any time during or since the end of the half- year are: Name Period of Directorship D Cronin (Non-Executive Chairman) Appointed 10 April 2018 M Stevens (Non-Executive Director) Appointed 11 March 2015 M McGeever (Non-Executive Director) Appointed 8 August 2018 Mal Maginnis (Executive Director) Resigned 20 November 2025 (Appointed 9 January 2023) The directors have been in office since the start of the financial period to the date of this report unless otherwise stated. Review of operations Trading conditions in the first half of FY2026 remained challenging, characterized by delays to key projects which has impacted revenue and earnings. During H1 FY2026 the Company has continued to make strong progress in key industry segments and is confident of improved performance in H2 FY2026 as key projects are delivered. Results for H1 FY2026 include: x Decline in revenue and other income to $14.1 million, down from $17.1 million in the previous year. The decline is driven by lower revenue in the Detect segment, reflecting delays to a number of orders now expected to be received in H2 FY2026. x Sales order intake during H1 FY2026 of $15.6 million including continued expansion in strategically important industry verticals – sovereign border protection, airport perimeter detection, transportation. x Confirmed sales order backlog of $7.8 million, including $2.6 million in contracted annual recurring revenue. The order backlog consists of equipment orders and multi-year service contracts. x Execution of binding agreements with Hale Capital to secure a strategic investment in the Company of up to $7.0 million via a Convertible Loan Note and up to $5.6 million via associated Warrants. The investment provides the Company growth capital with a highly aligned strategic partner to supporting U.S. expansion and is an affirmation of Ava’s growth plan. The Company remains focused on developing its sales opportunity pipeline in key industry verticals and growing its recurring revenue base. Aura Ai-X, the Company’s market leading, latest generation fibre sensing technology, remains at the forefront of supporting the sales opportunity pipeline. During H1FY2026 the Company continued to progress key segments: Directors' Report Review of operations (continued) x Transport (Rail infrastructure) – The Company was awarded a contract for $1.2 million for the supply of Aura Ai-X detection systems to identify and monitor risks critical to the safe and efficient operation of new rail infrastructure. The contract built on the previous success in delivering fibre sensing technology to the Sydney Metro project. x Transport (Aviation) – Aviation is a key focus in the transportation sector as the Company pursues perimeter protection opportunities at airports internationally as well as in the Australian domestic sector. During H1 the Company won orders for the provision of its technology to airports in Morocco and Athens. The Company has also successfully trialed its technology for perimeter protection at a number of airports in Australia during H1 FY2026 and expects to see these trials progress to confirmed orders during H2 FY2026 and beyond. x Sovereign Border Protection – This segment continues to emerge as an area of focus with increasing government demand due to geopolitical instability in some regions. During H1 FY2026, a contract for $0.5 million was received for the supply of Aura Ai-X detection systems for border protection in Latvia. This contract follows the successful deployment of the Company’s detection technology to another Eastern European border and the sales opportunity pipeline contains further significant opportunities in this segment which are expected to close in H2 FY2026. x Telecommunications – While progress in the telecommunications sector has been slower than anticipated, this sector remains a significant growth opportunity and we continue to mature our relationship with Telstra. Ava Risk Group has been invited to participate in the Telstra Together 26 roadshow across March and April 2026, one of eight experience “hubs” which will demonstrate the capacity of Aura Ai-X to protect critical telecommunications infrastructure, including subsea cables. Our collaboration with Telstra remains ongoing and has also created a number of opportunities from international telecommunication operators. Financial Review A$m H1 FY25 H1 FY26 Change Revenue & Other Income 17.1 14.1 (3.0) Underlying EBITDA* 1.7 (0.2) (1.9) Profit / (Loss) After Tax (0.0) (1.2) (1.6) Reconciliation of Underlying EBITDA Underlying EBITDA 1.7 (0.2) (1.9) Foreign Exchange gain / (loss) (0.1) 0.7 0.8 Reported EBITDA 1.6 0.5 (1.1) Depreciation & Amortisation (1.7) (1.9) (0.2) Finance Expense (0.1) (0.1) 0.0 Tax (Expense) / Benefit 0.2 0.3 0.1 Loss After Tax (0.0) (1.2) (1.2) Directors' Report Financial Review (continued) Financial performance in H1 FY2026 was lower than the previous year attributable to lower revenue in Detect. The shortfall in Detect is driven by delays in a number of key projects which are now expected to close in H2 FY2026. The previous year included the delivery of key projects relating to an Eastern European border ($2.1 million) and a pipeline in Chile ($2.7 million), compared to current year which had one major project on Rail infrastructure ($0.8 million). Major programs enable the Company to better leverage its stable cost base and technology footprint to grow earnings. Revenue in both Access and Illuminate is consistent with the previous year. Consolidated gross margin remains at 64% and operating costs are also stable. The resulting decline in EBITDA is driven entirely by the shortfall in revenue and is expected to improve significantly in H2 FY2026. Net loss for the period was $1.2 million (H1 FY2025 was a net loss of $0.02 million). The Company had a cash balance at 31 December 2025 of $2.7 million (30 June 2025 $5.6 million). Outlook The Company expects performance in H2 FY2026 to be significantly improved on its first half performance. A number of key orders which were delayed in the first half are expected to close in H2 FY2026. Specifically these include: x Program for deployment of Aura Ai-X to corrections facilities in the U.S. - $1.0 million in revenue. x Two orders for deployment of detection systems to U.S. government sites, delayed in part due to U.S. government shutdown earlier in H1 which has impacted the timing of procurement decisions - $0.7 million. x Additional systems expected to be deployed to a major Australian transport infrastructure project - $0.6 million. x Two programs for the deployment of detection systems to energy infrastructure in the U.S. and Asia now expected in H2 - $0.7 million x Initial order ($0.4 million) for some equipment as part of a broader border protection project in the Middle East. Both the initial order and the larger program order are now expected in H2 FY2026. Additionally, the Company has progressed a number of large program tenders which are expected to be finalised during H2 FY2026 and drive revenue growth. x Sovereign border protection program in the Middle East - $2.5 million. x Oil and Gas infrastructure protection in the Middle East, building on the Company’s previous successful deployment of systems to this customer - $2.2 million. x Oil and Gas infrastructure protection to a new customer in the Middle East - $1.0 million x Australian transport infrastructure program, building on the Company’s success on the Sydney Metro project - $0.8 million. x Solar farm perimeter protection in Latin America - $0.4 million. Operating margins and the cost base are expected to remain stable, resulting in the expected revenue growth driving improved earnings. Directors' Report Events after the Balance date On 31 December 2025, Ava Risk Group entered into a binding agreement with Hale Capital to secure a strategic investment of up to $7.0 million via a Convertible Loan Note and up to $5.6 million via associated Warrants. The funding will be used to provide growth capital including support for the Company’s expansion in the U.S., AVA’s largest and most attractive addressable market. Funding attributable to the Convertible Loan Note is split between two tranches. Tranche 1 funding for $2.98 million is related to the satisfaction of the conditions precedent set out in the agreements. This occurred during January 2026 and Tranche 1 funding was received by Ava Risk Group on 30 January 2026. Subject to shareholder approval, the Company will have access to a further $4.02 million of funding via the issue to Hale Capital of convertible notes, referenced as Tranche 2 Commitment. The Company will convene a special meeting of shareholders on 30 March 2026 seeking shareholder approval for the Tranche 2 Commitment. No other significant events have occurred subsequent to 31 December 2025, other than described above. Rounding of amounts In accordance with ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2016/191, the amounts in the directors’ report and in the financial report have been rounded to the nearest one thousand dollars, or in certain cases, to the nearest dollar (where indicated). Auditor’s independence declaration A copy of the auditor’s independence declaration as required under section 307C of the Corporations Act 2001 in relation to the review for the half-year is provided with this report. This report is made in accordance with a resolution of directors. David Cronin Chairman 25 February 2026 Melbourne, Australia Collins Place Level 25, 35 Collins Street Melbourne VIC 3000 GPO Box 5099 Melbourne VIC 3001 Australia Tel: +61 3 9603 1700 Fax: +61 3 9602 3870 www.bdo.com.au BDO Audit Pty Ltd ABN 33 134 022 870 is a member of a national association of independent entities which are all members of BDO International Ltd, a UK company limited by guarantee, and form part of the international BDO network of independent member firms. Liability limited by a scheme approved under Professional Standards Legislation. DECLARATION OF INDEPENDENCE BY WAI AW TO THE DIRECTORS OF AVA RISK GROUP LIMITED As lead auditor for the review of AVA Risk Group Limited for the half-year ended 31 December 2025, I declare that, to the best of my knowledge and belief, there have been: 1. No contraventions of the auditor independence requirements of the Corporations Act 2001 in relation to the review; and 2. No contraventions of any applicable code of professional conduct in relation to the review. This declaration is in respect of AVA Risk Group Limited and the entities it controlled during the period. Wai Aw Director BDO Audit Pty Ltd Melbourne, 25 February 2026 AVA Risk Group Limited Consolidated Statement of Profit or Loss and Other Comprehensive Income 6 months ended 31 December Note 2025 31 December 2024 $'000 $'000 Revenue from contracts with customers 5 14,045 17,031 Other income 33 39 Total Revenue and other income 14,078 17,070 Cost of raw materials and consumables used (5,098) (6,065) Employee benefit expenses (5,348) (5,333) Research and development (811) (965) Advertising and marketing (242) (149) Travel and entertainment (786) (646) Facilities and office (527) (495) Compliance, legal, and administration (840) (951) Reversal (impairment) of receivables 14 (235) Depreciation and amortisation expenses (1,893) (1,708) Finance expense (116) (139) Foreign exchange gains / (losses) 371 (77) Other expenses (288) (578) Total Expenses (15,564) (17,341) Loss before income tax (1,486) (271) Income tax benefit 307 248 Loss after income tax for the period (1,179) (23) Other comprehensive income for the period, net of tax Items that may be reclassified subsequently to profit and loss Exchange differences on translation of foreign operations, net of tax (978) 731 Total other comprehensive (loss) income for the period (978) 731 Loss for the period attributable to Equity holders of the parent company (1,179) (23) Total comprehensive (loss) income for the period attributable to Equity holders of the parent company: (2,157) 708 Earnings per share attributable to ordinary shareholders of AVA Risk Group Cents Cents Basic loss per share 8 (0.4) (0.01) Diluted loss per share 8 (0.4) (0.01) The above Consolidated Statement of Profit and Loss and Other Comprehensive Income should be read in conjunction with the accompanying notes. AVA Risk Group Limited Consolidated Statement of Financial Position As at 31 As at December 30 June Note 2025 2025 $'000 $'000 ASSETS Current Assets Cash and cash equivalents 6 2,744 5,591 Trade and other receivables 6,895 6,169 Contract assets 640 669 Prepayments 898 798 Inventories 6,616 6,596 Total Current Assets 17,793 19,823 Non-Current Assets Plant and equipment 869 963 Intangible assets 7,313 7,313 Right of use assets 944 1,069 Deferred tax asset 719 436 Total Non-Current Assets 9,845 9,781 TOTAL ASSETS 27,638 29,604 LIABILITIES Current Liabilities Trade and other payables 2,232 2,490 Contract liabilities 356 232 Borrowings 2,211 1,742 Lease liability 409 447 Provisions 1,437 1,373 Total Current Liabilities 6,645 6,284 Non-Current Liabilities Provisions 120 119 Lease liabilities 522 612 Contract liabilities 306 415 EQUITY Contributed equity 7 57,930 57,931 Accumulated losses (36,858) (35,679) Reserves (1,027) (78) The above Consolidated statement of Financial Position should be read in conjunction with the accompanying notes. Total Non-Current Liabilities 948 1,146 TOTAL LIABILITIES 7,593 7,430 NET ASSETS 20,045 22,174 TOTAL EQUITY 20,045 22,174 AVA Risk Group Limited Consolidated Statement of Changes in Equity Contributed equity Share-based payment Reserve Foreign Exchange Translation Reserve Other Equity Reserves Accumulated Losses Total Equity $’000 $’000 $’000 $’000 $’000 $’000 At 1 July 2025 57,931 2,584 385 (3,047) (35,679) 22,174 Loss for the period - - - - (1,179) (1,179) Other comprehensive income - - (978) - - (978) Total comprehensive income for the period - - (978) - (1,179) (2,157) Transactions with owners in their capacity as owners Share issue costs (1) - - - - (1) Share based payments - 29 - - - 29 Total transactions with owners in their capacity as owners (1) 29 - - - 28 Balance at 31 December 2025 57,930 2,613 (593) (3,047) (36,858) 20,045 At 1 July 2024 57,932 2,381 (60) (3,047) (29,257) 27,949 Loss for the period - - - - (23) (23) Other comprehensive loss - - 731 - - 731 Total comprehensive loss for the period - - 731 - (23) 708 Transactions with owners in their capacity as owners Share issue costs (1) - - - - (1) Share based payments - 118 - - - 118 Total transactions with owners in their capacity as owners (1) 118 - - - 117 Balance at 31 December 2024 57,931 2,499 671 (3,047) (29,280) 28,774 6 months ended 31 December 31 December 2025 2024 $’000 $’000 AVA Risk Group Limited Consolidated Statement of Cash Flows For the half-year ended 31 December 2025 Note Cash flow from operating activities Receipts from customers (inclusive of GST) 13,381 15,177 Payments to suppliers and employees (inclusive of GST) (14,598) (14,387) Interest received 8 24 Tax refunded (paid) - 394 Finance costs (87) (123) Lease interest paid (28) (16) Net cash flows generated from (used in) from operating activities (1,324) 1,069 Cash flow from investing activities Payment for intangible assets (1,468) (1,142) Payment for plant and equipment (125) (171) Net cash flows used in investing activities (1,593) (1,313) Cash flow from financing activities Share issue expense (1) (1) Repayment of borrowings (120) (347) Proceeds from short-term borrowings - 368 Payment of lease liabilities (196) (223) Net cash flows used in financing activities (318) (203) Net decrease in cash and cash equivalents (3,235) (447) Net foreign exchange differences on cash (48) 152 Cash and cash equivalents at beginning of period 4,081 3,468 Cash and cash equivalents at end of the period 798 3,173 AVA Risk Group Limited Notes to the Consolidated Financial Statements 31 December 2025 1. Corporate information The consolidated financial statements of AVA Risk Group Limited and its subsidiaries (collectively, "the Group") for the half-year ended 31 December 2025 were authorised for issue in accordance with a resolution of the directors on 25 February 2026. AVA Risk Group Limited ("the parent") is a limited company incorporated and domiciled in Australia and whose shares are publicly traded. The registered office is located at 10 Hartnett Close, Mulgrave, Victoria 3170, Australia. The Group is principally engaged in sensing and access technology protecting high value assets and critical infrastructure. 2. Basis of preparation and changes to the Group's accounting policies (a) Basis of preparation This consolidated half-year financial report has been prepared in accordance with Australian Accounting Standard AASB 134 Interim Financial Reporting , as appropriate for for-profit entities, and the Corporations Act 2001. This consolidated half-year financial report does not include all the notes of the type usually included in an annual financial report. It is recommended that this half-year financial report be read in conjunction with the annual financial report for the year ended 30 June 2025 and any public announcements made by AVA Risk Group Limited during the half-year in accordance with any continuous disclosure obligations arising under the Corporations Act 2001. The half-year financial report was authorised for issue by the directors as at the date of the directors’ report. (b) Rounding amounts In accordance with ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2016/191, the amounts in the directors’ report and in the financial report have been rounded to the nearest one thousand dollars, or in certain cases, to the nearest dollar (where indicated). AVA Risk Group Limited Notes to the Consolidated Financial Statements 31 December 2025 2. Basis of preparation and changes to the Group's accounting policies (continued) (c) Critical accounting estimates and assumptions The Group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. (i) Impairment of tangible and intangibles assets The Group assesses at each reporting date, whether there is an indication that an asset may be impaired. If any indication exists, or when annual impairment testing for an asset is required, the Group estimates the asset’s recoverable amount. Recoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or group of assets. If this is the case, recoverable amount is determined for the cash – generating unit to which the asset belongs. An asset’s recoverable amount is the higher of an asset’s or the cash generating units (CGU) fair value less costs of disposal and its value in use. When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. No impairments were recognised for the period (June 2025: $5,624,000). (ii) Capitalisation of development costs Development expenditure on an individual project are recognised as an intangible asset when the Group can demonstrate: x The technical feasibility of completing the intangible asset so that the asset will be available for use x Its intention to complete and its ability and intention to use or sell the asset x How the asset will generate future economic benefits x The availability of resources to complete the asset x The ability to measure reliably the expenditure during development (iii) Amortisation of intangible assets Trademarks, Licences and Patents are recognized at cost of acquisition. They have a finite life and are amortised on a systematic basis, matched to the future economic benefits over the life of the asset, less any impairment losses. Capitalised development expenditure is stated at cost less accumulated amortization and accumulated impairment losses. Amortisation is calculated using a straight line method to allocate the cost of the intangible assets over their estimated useful lives. 3. Related party transactions The Group purchased consulting services from Pierce Group Asia Pte Ltd and Pierce Asia Pty Ltd related entities through Chairman and Non-Executive Director, David Cronin, for $148,011 (HY2025: $137,800). Accounts payable balance at 31 December 2025 totals $20,891 (30 June 2025: $17,251). These arrangements were in the normal course of business and included amounts related to the provision of consultancy and administration services, and general office expenses provided by related entities for the benefit of the Group. There have been no other related party transactions other than those between the Company and its subsidiaries during the half-year ended 31 December 2025. AVA Risk Group Limited Notes to the Consolidated Financial Statements 31 December 2025 4. Segment information (a) Description of segments Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker. The chief operating decision maker, who is responsible for allocating resources and assessing performance of the operating segments has been identified as the Board of Directors of AVA Risk Group Limited. The Group’s segments were based on three separately identifiable products. The Group operates in Detect, Access and llluminate, which are its reportable segments. These divisions offer different products and services and are managed separately because they require different technology and marketing strategies. The following summary describes the operations of each reportable segment: Product type Reportable segment Operations Technology Detect Manufactures and markets ‘smart’ fibre optic sensing systems for security and condition monitoring for a range of applications including perimeters, pipelines, conveyors, power cables and data networks. Access Specialises in the development, manufacture and supply of high security biometric readers, security access control and electronic locking products. Illuminate Specialises in the development and manufacture of illuminators, ANPR cameras and perimeter detectors. (b) Reportable segments 31 December 2025 Detect Access Illuminate Eliminations Consolidated $’000 $’000 $’000 $’000 $’000 Revenue and other income External customers 8,836 1,891 3,318 - 14,045 Intersegment revenue 899 9 (908) - Other income 25 - - - 25 Interest Income 2 6 - - 8 Segment revenue and other income 9,762 1,897 3,327 (908) 14,078 EBITDA 1,183 (929) (312) 581 523 Depreciation and amortisation (1,469) (204) (220) - (1,893) Finance costs (24) (2) (90) - (116) Income tax 426 45 (164) - 307 Segment operating profit (loss) 116 (1,090) (786) 581 (1,179) Total assets 21,409 1,794 4,435 - 27,638 Total liabilities 3,957 548 3,088 - 7,593 (b) Reportable segments (continued) AVA Risk Group Limited Notes to the Consolidated Financial Statements 31 December 2025 31 December 2024 Detect Access Illuminate Eliminations Consolidated $’000 $’000 $’000 $’000 $’000 Revenue and other income External customers 12,066 1,986 2,979 17,031 Intersegment revenue 358 7 - (365) - Other income 11 4 - - 15 Interest Income 13 11 - - 24 Segment revenue and other income 12,448 2,008 2,979 (365) 17,070 EBITDA 2,512 (232) (429) (275) 1,576 Depreciation and amortisation (1,243) (265) (200) (1,708) Finance costs (23) (5) (111) - (139) Income tax - 103 145 248 Segment operating loss 1,246 (399) (595) (275) (23) Total assets 36,147 12,157 4,700 (15,040) 37,964 Total liabilities 5,206 615 3,373 (4) 9,190 (c) Geographic information Australia 3,915 2,155 APAC (excl Australia) 23 504 Europe 4,192 6,617 India 81 54 MENA 2,313 1,559 United States of America 2,716 2,369 Rest of world 805 3,773 Total external revenue by region 14,045 17,031 (d) Non-current operating assets 31 December 30 June 2025 $’000 2025 $’000 Australia 7,211 7,231 United Kingdom 1,117 1,394 Rest of world 798 720 Total non-current assets by region 9,126 9,345 Non-current assets for this purpose consist of property, plant and equipment, right-of-use assets, and intangible assets. (e) Reconciliation of non-current assets 31 December 30 June 2025 $’000 2025 $’000 Non-current operating assets by region 9,126 9,345 Deferred tax assets 719 436 Total non-current assets 9,845 9,781 31 December 31 December 2025 2024 $’000 $’000 AVA Risk Group Limited Notes to the Consolidated Financial Statements 31 December 2025 5. Revenue and other income Consolidated 31 December 2025 31 December 2024 $'000 $'000 (a) Revenue from contracts with customers Revenue from sales of goods 11,975 15,184 Revenue from provision of services 2,070 1,847 Total revenue from contracts with customers 14,045 17,031 Interest received 8 23 Other income 25 16 Total other income 33 39 Total revenues and other income 14,078 17,070 (c) Disaggregation of revenue Timing of revenue recognition Goods transferred at a point in time 11,975 15,184 Services transferred over time 2,070 1,847 Total revenue from contracts with customers 14,045 17,031 (d) Performance obligations The Group holds contract liabilities in relation to services including extended warranty, support, commissioning and training which have been invoiced in advance with the services yet to be provided. (b) Other income 6. For the purpose of the statement of cash flows, cash and cash equivalents comprise the following: 31 December 2025 30 June 2025 $'000 $'000 Cash at banks and on hand 2,632 5,480 Short-term deposits 111 111 Bank overdrafts (1,946) (1,510) Cash and cash equivalents 797 4,081 Bank overdrafts Bank overdrafts relate to existing banking facilities for working capital. At 31 December 2025, the Group had available $948,570 (30 June 2025 $1,514,000) of undrawn committed facilities. 7. Issued capital and reserves 31 December 2025 30 June 2025 $'000 $'000 (a) Ordinary shares Ordinary share capital, issued and fully paid 57,930 57,931 57,930 57,931 At 1 July 2025 290,472,027 57,931 Share issue: On exercise of Performance Share Rights 293,721 (1) Share issue costs - - At 31 December 2025 290,765,748 57,930 AVA Risk Group Limited Notes to the Consolidated Financial Statements Cash and short-term deposits 31 December 2025 31 December 2025 30 June 2025 $'000 $'000 Cash at banks and on hand 2,632 5,480 Short-term deposits 111 111 Total Cash 2,744 5,591 (b) Movement in ordinary shares on issue Number of shares $'000 AVA Risk Group Limited Notes to the Consolidated Financial Statements 31 December 2025 8. Earnings per Share The following reflects the income used in the basic and diluted