Q2FY25 Quarterly Activities Report

Pentanet H1 FY25 Highlights Financial Performance

• Positive EBITDA for H1 FY25 with $1m QoQ improvement from a Q1 EBITDA loss of $0.4m to $0.6m positive EBITDA in Q2.

• Consolidated revenue increased 7% on PcP to $11.1m and 6% QoQ to $5.7m.

• Consolidated gross profit increased 6% on PcP to $5.2m and 17% QoQ to $2.8m.

Operational Growth

• 5G subscribers up 17% QoQ to 709 in total.

• On track to double 5G network coverage in FY25.

• Churn down from 1.3% to 1.2% in Q2, with on-net churn down to 1.1%.

Gaming Division Performance

• Gaming revenue growth up 31% on PcP to $1.1m for H1 FY25 and 27% QoQ.

• Cloud Gaming ARPU up 23% QoQ to $17.

Cash Flow

• Net operating cash flow increased to $0.9m in Q2 FY25, with net cash inflow at $0.2m for H1 FY25.

Managing Director's Commentary Stephen Cornish stated that the achievement of positive EBITDA reflects the execution of Pentanet's strategic goals. The Company remains focused on doubling its 5G network coverage, enhancing its competitive position and growth trajectory. He also highlighted the success in monetising the NVIDIA Cloud operations, particularly through the CloudGG platform, demonstrating Pentanet's ability to scale services and deliver sustained value to both customers and stakeholders.