Announcement PDF Appendix 4E 2026 Pentanet Limited ASX: 5GG Pentanet Ltd Appendix 4E Preliminary final report 1. Company details Name of entity: Pentanet Ltd ABN: 29 617 506 279 Reporting period: For the year ended 30 June 2026 Previous period: For the year ended 30 June 2025 2. Results for announcement to the market Movement from previous financial period Current financial period ($’000) Revenues from ordinary activities up 8% to 24,397 Loss from ordinary activities after tax attributable to the owners of Pentanet Ltd up 55% to (6,890) Loss for the year attributable to the owners of Pentanet Ltd up 55% to (6,890) This Appendix 4E should be read in conjunction with the 2026 Annual Report and Financial Statements which have been released to the ASX on the same day as this announcement. 3. Dividends Current period There were no dividends paid, recommended, or declared during the current financial period. Previous period There were no dividends paid, recommended, or declared during the previous financial period. 4. Net tangible assets Current financial period Previous financial period $ $ Net tangible assets per ordinary security 0.02 0.03 Pentanet Ltd Appendix 4E Preliminary final report 5. Control gained over entities Not applicable. 6. Loss of control over entities Not applicable. 7. Dividend reinvestment plans Not applicable. 8. Details of associates and joint venture entities Not applicable. 9. Foreign entities Not applicable. 10. Audit qualification or review Details of audit/review dispute or qualification (if any): The 2026 Annual Report and Financial Statements have been audited, and an unmodified opinion has been issued. 11. Attachments Details of attachments (if any): Additional Appendix 4E disclosure requirements and financial information are included in the 2026 Annual Report and Financial Statements which are attached. 12. Signed Signed Date: 31 August 2026 David Buckingham Non-Executive Chairman Perth Annual Report 2026 Pentanet Limited ASX: 5GG At Pentanet, we’re building more than just internet connections – we’re shaping the future of how Australians play, connect, and work in a digital-first world – with cloud gaming leading the way. As an NVIDIA Alliance partner, bringing cutting-edge cloud Graphics Processing Unit (GPU) technology to Australia and New Zealand, to our privately owned telco network in Perth, everything we do is about putting leading-edge infrastructure to work – powering how Australians connect, work, and play. STEPHEN CORNISH Founder & Managing Director Contents Chairman and Managing Director’s Address 4 Our Values 6 Operational and Financial Overview 7 Corporate Directory 18 Directors’ Report 19 Remuneration Report (Audited) 27 Auditor Independence Declaration 38 Financial Report 39 Consolidated Entity Disclosure Statement 74 Director’s Declaration 75 Independent Auditor’s Report 76 Shareholder Information 81 3 PENTANET LTD • 2026 ANNUAL REPORT Dear Shareholder, That scarcity is precisely what makes our position valuable. We already own the GPUs, and a growing subscription base funds them. Our task from here is to maximise utilisation of that capacity, building on the $1.7 million of EBITDA the gaming segment already generates. Our near-term focus is converting our registered audience into paying members, lifting utilisation of the infrastructure we already have. Alongside this, Pentanet is exploring a path to further GPU expansion as part of its NVIDIA. Financially our focus remains on delivering disciplined growth across both segments while increasing sustainable profitability. None of this would be possible without our people, whose talent and commitment turned strategy into results this year; our board and partners, and NVIDIA in particular; and you, our shareholders, whose support has been instrumental. We are more confident than ever in Pentanet’s ability to deliver faster, smarter and richer digital experiences, and in the opportunity in front of us as we enter this next phase of growth. Thank you for your continued support. Chairman and Managing Director’s Address David Buckingham Non-Executive Chairman 31 August 2026 Stephen Cornish Managing Director 31 August 2026 4 Welcome to Pentanet Ltd’s (“Pentanet’s”, “we”, “us” or “the Company”) Annual Report for the Financial Year ended 30 June 2026. FY26 was another year of solid growth for Pentanet. Consolidated revenue rose 8% to $24.4 million, EBITDA grew 74% to $2.4 million, and the Company delivered increased positive net operating cash flow of $1.6 million. Both business segments contributed to the improvements, but it was our gaming business, CloudGG, that set the pace, with revenue up 16% to $2.8 million and gross profit margin lifted from 57% to 68% as members migrated to higher-value subscription tiers. Our telecommunications business had a solid year, prioritising utilisation of the network already built over further expansion. Segment revenue grew 7% to $21.6 million, total subscribers reached 18,936, and blended ARPU held at $96 per month. In November we launched a new brand platform, Nothing But Net, to support the next phase of subscriber growth. But the story we most want to share with you this year is the one now forming ahead of us. Something significant is happening in our industry, and Pentanet sits at the centre of it. The high-end graphics hardware that powers modern gaming has become scarcer and more expensive than at almost any time in memory. The newest generation of consumer GPUs are in constrained supply, with little relief expected in the near term. For a household considering a several-thousand- dollar upgrade, the economics of owning their gaming hardware are breaking down. This is the kind of landscape shift that saw DVDs replaced by streaming and the shift from owning music to accessing it. Computing power is moving to the cloud, and gaming is following. As Australia and New Zealand’s NVIDIA GeForce NOW Alliance Partner, Pentanet’s CloudGG holds the infrastructure to meet that demand, turning a $3,000-plus hardware decision into an affordable monthly subscription with an equivalent gaming experience. CHAIRMAN AND MANAGING DIRECTOR'S ADDRESS Something significant is happening in our industry, and Pentanet sits at the centre of it. 5 CHAIRMAN AND MANAGING DIRECTOR'S ADDRESS Impactful Innovation We dare to introduce new ideas and technology that can positively impact the world around us, not just the screens in front of us. Good Connections We bring people together both digitally and IRL for shared experiences and memorable moments. Next level service is just a given. We Meme Business Genuinely hyped on what we do, we take fun stuff seriously, and make serious stuff fun. Unapologetically us, we use our unique attributes and abilities to get shit done. PentaFam First We do whatever it takes for our team and community to know they are safe, protected, and valued as part of the Pentanet family. Be The Supercar The world moves fast, so we move faster with our speed, agility and expertise. High performance is in our DNA, and we bet on ourselves every time. Our Values 6 OUR VALUES At Pentanet, we’re not just keeping up with the digital future – we’re helping build it. Our business goes beyond connectivity. We own and operate leading-edge NVIDIA GPU and telco infrastructure – the platforms behind next-generation cloud gaming on any screen, fast and reliable internet at home. Our commitment to innovation is matched only by our commitment to service. While we love the tech, what really sets us apart is the people behind it: our local team, delivering human connection in a digital world. Operational and Financial Overview In an industry that never stands still, we’re driven by a clear purpose: to harness cutting-edge technology in ways that create real impact – for our customers, our community, and our shareholders. We remain focused on growing the value of our customer base while lifting the utilisation of the infrastructure we’ve already built, so that every platform delivers more value, more performance, and more moments that matter. With both business segments EBITDA positive, an NVIDIA Alliance Partner, and infrastructure that is already built and largely paid for, we’re well-positioned to keep delivering results, and really take things to the next level. 7 OPERATIONAL AND FINANCIAL REVIEW From Telco to Digital Infrastructure Pentanet's story is one of building real infrastructure. In 2017, we launched as a fixed wireless internet service provider in Perth – towers, spectrum and fibre backhaul serving customers the incumbents overlooked. In 2021, we put our GPU infrastructure to work delivering cloud gaming to Australians as NVIDIA's GeForce NOW Alliance Partner – and discovered that gaming infrastructure could serve a much larger market. Today, Pentanet is an established platform with a growing subscriber base, telco connectivity across Australia, and a gaming business that is profitable in its own right – with both operating segments EBITDA positive in FY26. One infrastructure, two revenue streams Our leading-edge NVIDIA GPU and telco infrastructure underpins two subscription revenue layers: telco subscriptions and gaming subscriptions. Already built, largely paid for The infrastructure behind both revenue streams is already in place. At 30 June 2026, Pentanet's property, plant and equipment had a carrying value of $12.1 million, split mainly between telco ($8.3 million) and gaming ($3.6 million) assets. With the major build phase behind us, the focus is utilisation rather than construction – existing assets working harder across gaming and connectivity. What's next In FY27, Pentanet will focus on accelerating new user acquisition and increasing conversion of our registered audience to paid memberships. Any further GPU expansion would be scaled incrementally in line with demand, lifting the performance available to gaming subscribers. 8 OPERATIONAL AND FINANCIAL REVIEW Operational Advancements and Future Growth Outlook FY26 was a year of disciplined execution for Pentanet. With the major network and GPU build phase complete, the Company shifted its focus from expansion to utilisation – simplifying its product suite, strengthening margins, and putting existing infrastructure to work across both business segments. In cloud gaming, Pentanet completed its transition toward higher-value subscription tiers, retiring the entry‑level Casual plan to improve platform economics. Gaming revenue increased 16% year-on-year (YoY) to $2.8 million, with gross profit up 40% YoY to $1.9 million at a 68.4% margin. Premium-tier memberships grew 39% YoY, and paid members outside the retired Casual plan grew 18% YoY. GeForce NOW Powered by CloudGG remains the home of NVIDIA GeForce NOW in Australia and New Zealand, with registered accounts growing to approximately 840,000 and more than 2,000 supported games available, with new titles added weekly. In telecommunications, growth was led by off-net business NBN Services, with subscribers up 13% YoY as customers took up higher-speed NBN plans, while 5G Fixed Wireless subscribers grew 15% YoY to 1,039 on existing coverage. In November 2025, Pentanet launched its new brand platform, Nothing But Net, to support long-term subscriber acquisition. Total telco subscribers closed the year at 18,936, up 4% YoY, with blended Average Revenue Per User (ARPU) improving to $96 per month as customers continued to migrate to higher-speed plans. Competitive promotional activity across the market lifted switching during the year, and strengthening retention remains a key focus for FY27. Looking ahead, the telco strategy will prioritise disciplined organic growth, brand-led acquisition and capital efficiency – maximising the return on the network Pentanet has already built. Pentanet will continue to operate with financial discipline and operational rigour. In FY27, the focus is on lifting the utilisation of deployed 5G and GPU infrastructure already deployed, growing the gaming subscriber base, and exploring new off-peak gaming plans that make use of available capacity to deliver sustained value for both customers and shareholders. The build is behind us. FY27 is about putting our infrastructure to work – more gamers on the platform and higher utilisation of every asset. 9 OPERATIONAL AND FINANCIAL REVIEW Financial Performance Revenue Recurring Revenue Gross Profit EBITDA 8% 7% 7% 74% FY26 FY25 FY24 FY26 FY25 FY24 Key Milestones Gross profit increased by 7% YoY to $11.8m Revenue increased by 8%YoY to $24.4m EBITDA of $2.4m, $1m YoY improvement $24.4m $23.3m $11.8m +$2.4m $22.6m $21.7m $11.0m +$1.4m $20.9m $19.9m $9.6m ($1.3m) FY26 FY25 FY24 FY26 FY25 FY24 10 OPERATIONAL AND FINANCIAL REVIEW Results Overview YoY consolidated revenue increased 8% to $24.4 million across Pentanet’s two product segments. Recurring revenue now constitutes 95.5% of total revenue. Telecommunications revenue increased by 7% YoY to $21.6 million, reflecting a 4% YoY growth in subscribers from increased NBN customers. GeForce NOW revenue increased 16% YoY to $2.8 million, driven by the transition to higher-value subscription tiers and the retirement of the entry-level Casual plan. Total CloudGG membership reached approximately 840,000 registered users. YoY consolidated gross profit increased by 7% to $11.8 million, with gross margin of 48% slightly below the prior year (49%). Gross profit growth was driven mainly by the gaming segment, as growth in higher-tier plans and strong support from NVIDIA delivered a Gross Profit increase of 40% YoY to $1.9 million. Telecommunications Gross Profit increased by 2% YoY to $9.8 million, with gross margin easing to 46% (FY25: 48%) from increased NBN customers. Operating expenses decreased by a further 3% YoY to $9.8 million, reflecting continued discipline across employee-related costs and general overheads while sustaining targeted marketing investment. EBITDA for FY26 was $2.4 million, an improvement of $1.0 million YoY. This reflects the continued growth of both business segments as well as careful cost control and continued operational optimisation. 1 Gross profit is revenue less network operating cost and hardware expenses, representing the profit generated from customers before the costs of marketing, sales, support and administration cost. Gross Margin is calculated as Gross Profit divided by revenue, expressed as a percentage. 2 EBITDA is a financial measure which is not prescribed by Australian Accounting Standards (‘AAS’) and represents the profit under AAS adjusted for depreciation, amortisation, interest and tax. Underlying EBITDA excludes share-based payments. 3 During the year ended 30 June 2026, NVIDIA notified the Group that the RTX Bladerunner 1 platform supporting the Group's GeForce NOW Gen 2 infrastructure had reached end of service life. Vendor support ceased and the GeForce NOW service could no longer operate on this hardware from 31 March 2026. Following the migration of the relevant service workloads and subscribers to Gen 3 infrastructure, the Group decommissioned the Gen 2 RTX servers on 15 April 2026. As a result, the Gen 2 RTX servers ceased to generate future cash inflows and their value in use was assessed as nil. Recoverable amount was determined as fair value less costs of disposal rather than value in use. Fair value less costs of disposal of $89,646.12 was determined using a market approach based on a written quotation obtained from a specialist IT asset disposal provider, less the quoted costs of collection, data sanitisation, freight and recycling. The quotation does not reflect observable prices for identical assets and the measurement is categorised within Level 3 of the fair value hierarchy. An impairment loss of $4,040,099 has been recognised in the profit and loss statement for the year ended 30 June 2026. The servers remain within property, plant and equipment at their written- down carrying amount of $89,646, as no decision has been made to sell them and the criteria for classification as held for sale have not been met. FY26 $'000 FY25 $'000 Change Revenue 24,397 22,595 8% Gross profit 1 11,753 11,006 7% Gross margin 1 48% 49% (1pp) Other income 392 417 (6%) Operating Expenses (9,780) (10,063) (3%) EBITDA2 2,365 1,360 74% Depreciation and amortisation (4,635) (4,674) (1%) Impairment 3 (4,040) (648) 523% EBIT (6,310) (3,962) 59% Net finance cost (580) (491) 18% Net loss before tax (6,890) (4,453) 55% Other comprehensive income for the year, net of tax - - - Total comprehensive income for the year (6,890) (4,453) 55% 11 OPERATIONAL AND FINANCIAL REVIEW Cloud Gaming Segment FY26 FY25 Change ARPU 1 $24 $17 36% Subscribers 9,882 10,738 (8%) Cloud Gaming Segment FY26 $'000 FY25 $'000 Change Total revenue 2,833 2,444 16% Cost of sales (894) (1,057) (15%) Gross profit 1,939 1,387 40% Gross margin 2 68% 57% 11pp EBITDA 3 1,660 1,028 61% 1 ARPU is calculated as recurring revenue divided by the average number of users in the period (non-IFRS measure). 2 Gross margin is revenue less network operating cost and hardware expenses, representing the margin generated from customers before the costs of marketing, sales, support and administration cost. 3 EBITDA is a financial measure which is not prescribed by Australian Accounting Standards (‘AAS’) and represents the profit under AAS adjusted for depreciation, amortisation, interest and tax. Note: Figures in this table are presented on a rounded basis. Percentage changes and totals are calculated on unrounded figures, and components may not sum exactly to the totals shown due to rounding. In FY27, Pentanet will focus on accelerating new user acquisition, increasing conversion of its registered audience to paid memberships, and lifting utilisation of the platform already deployed. Key Metrics Gross Profit 40% $1.9m $1.4m $0.4m FY26 FY25 FY24 Revenue 16% FY26 FY25 FY24 $2.8m $2.4m $1.8m EBITDA 61% FY26 FY25 FY24 +$1.7m +$1.0m ($0.2m) 12 OPERATIONAL AND FINANCIAL REVIEW Cloud Gaming Update Pentanet’s regional Alliance Partnership with NVIDIA continues to underpin GeForce NOW Powered by CloudGG as the premier cloud gaming service across Australia and New Zealand – that has become increasingly strategic as NVIDIA’s investment in AI extends the value of each new GPU generation. Cloud gaming improvements in FY26 were driven by three key goals: transitioning members to higher-value subscription tiers, improving platform economics, and strengthening onboarding and retention. Building on the plan restructure completed through FY25, key changes and drivers in FY26 included: • The entry-level Casual plan was retired, completing the transition to a streamlined range of higher-value memberships. • Continued migration to the premium Ultimate tier, with Ultimate memberships growing 39% YoY to represent the majority of the paid base. • Platform activity strengthened during the seasonal peak, supported by major new releases including ARC Raiders, Battlefield 6 and Path of Exile 2. • An ongoing focus on onboarding, retention and infrastructure efficiency to improve platform economics. These changes delivered a 16% increase in YoY gaming revenue to $2.8m, as members migrated to higher- margin plans, lifting gross margin to 68%. Key metrics across the gaming segment: • Positive EBITDA of $1.7m for FY26, up 61% from $1.0m in FY25 • Gaming subscription revenue up 16% to $2.8m YoY • Gaming subscription gross profit increased 40% YoY to $1.9m • Gaming subscription gross margin improved to 68%, up 11pp YoY • Gaming ARPU of $24 for FY26 • CloudGG paid subscriptions decreased by 8% YoY to 9,882 following the retirement of the Casual plan, with paid members outside the retired plan up 18% YoY • CloudGG total captive audience of 840,000+ registered accounts With more than 2,000 titles supported on the platform, XBOX PC Game Pass integration, and RTX 4080 performance ,GeForce NOW remains Australia’s premier cloud gaming solution, with the changes made through FY26 further strengthening the proposition heading into FY27. 13 OPERATIONAL AND FINANCIAL REVIEW Telecommunications Segment Key Metrics FY26 FY25 Change Recurring revenue % 1 96% 96% - Blended ARPU 1 $96 $94 2% Subscribers 18,936 18,157 4% Churn 1.27% 1.23% 0.04pp Telecommunications Segment FY26 $'000 FY25 $'000 Change Recurring revenue 1 20,630 19,315 7% Non-recurring revenue 934 836 11% Total revenue 21,564 20,151 7% Cost of sales (11,750) (10,532) 12% Gross profit 2 9,814 9,619 2% Gross margin 46% 48% (2pp) EBITDA 3 1,999 1,909 5% 1 Recurring revenue represents subscription and other repeatable revenue streams, excluding one-off and non-recurring items which primarily comprise hardware sales and set-up service fees. ARPU is calculated as revenue divided by the average number of users in the period (non-IFRS measure). 2 Gross margin is revenue less network operating cost and hardware expenses, representing the margin generated from customers before the costs of marketing, sales, support and administration cost. 3 EBITDA is a financial measure which is not prescribed by Australian Accounting Standards (‘AAS’) and represents the profit under AAS adjusted for depreciation, amortisation, interest and tax. 14 OPERATIONAL AND FINANCIAL REVIEW Revenue Recurring Revenue Gross Profit EBITDA 7% 7% 2% 5% $21.6m $20.6m $9.8m $2.0m $20.2m $19.3m $9.6m $1.9m $19.0m $18.2m $9.2m $0.8m FY26 FY25 FY24 FY26 FY25 FY24 FY26 FY25 FY24 FY26 FY25 FY24 15 OPERATIONAL AND FINANCIAL REVIEW Telecommunications Update Telecommunications growth in FY26 remained steady, supported by product improvements and a sharpened focus on utilising the existing network, despite an increasingly competitive landscape following the expansion of nbn® wholesale Fibre-to-the-Premises (FTTP) offers. In response, Pentanet continued to simplify its wireless plan structure, participate in the nbn Speed Boost program, and refine nbn promotional offerings to maintain competitiveness and better meet evolving customer needs. These strategies, combined with the November 2025 launch of the Nothing But Net brand platform, contributed to positive results, including 13% growth in off-net subscribers and continued migration to higher‑speed plans. Pentanet is participating in the industry-led 6 GHz Automatic Frequency Coordination (AFC) trial in Australia, which is intended to demonstrate safe and coordinated operation of 6 GHz fixed wireless equipment under AFC governance while protecting incumbent licensed link‑holders. In February 2026 Pentanet lodged a submission to the Australian Communications and Media Authority's consultation on AFC-assisted spectrum sharing in the 6 GHz band, supporting an AFC-based framework implemented in stages and drawing on established overseas deployments. Under the trial's experimental conditions Pentanet ran a live customer trial in July 2026, converting a small number of existing 5 GHz subscribers to 6 GHz, with peak throughput of 790 Mbps download and 158 Mbps upload achieved on 80 MHz of spectrum. The consultation proposes making 660 MHz of spectrum available under an AFC framework. If the ACMA proceeds with an AFC framework, access to a further 660 MHz of spectrum would allow Pentanet to deliver materially higher fixed wireless speeds across its existing tower footprint. A strong shift towards higher-speed on-net and off-net plans continued in FY26, contributing to ARPU growth from $94 to $96 and supporting overall revenue uplift. Telecommunications gross profit increased by 2% YoY to $9.8 million, while gross margin eased to 46% (FY25: 48%), reflecting the continued shift in subscriber mix towards lower-margin off-net services. Looking ahead, Pentanet remains focused on maximising utilisation of its existing network footprint, building brand-led subscriber acquisition through the Nothing But Net platform, and increasing adoption of higher‑margin on‑net and premium-speed services to strengthen long‑term profitability. 16 OPERATIONAL AND FINANCIAL REVIEW The three pillars of Pentanet’s strategy: Ongoing Strategy Scale and monetise cloud gaming Convert Pentanet’s registered gaming audience to paid memberships and grow premium-tier adoption on NVIDIA GeForce NOW, building on Pentanet's NVIDIA Alliance Partner status and lifting utilisation of the GPU capacity already deployed, to build a sustainable gaming revenue stream. Grow the telco subscriber base with capital efficiency Drive disciplined, brand-led subscriber growth through the Nothing But Net platform and competitive value propositions, prioritising utilisation of the existing network over capital- intensive expansion to improve margin contribution. Maximise infrastructure utilisation and deliver sustainable profitability Drive higher utilisation from Pentanet's network and GPU infrastructure, filling the capacity already built and extending platform usage into off-peak hours, to expand operating leverage and position the business for long-term, profitable growth. 17 OPERATIONAL AND FINANCIAL REVIEW Corporate Directory Company Secretary Patrick Holywell Registered office Suite 25, 257 Balcatta Road Balcatta, 6021 WA Telephone number: (08) 9466 2670 Principal place of business Suite 25, 257 Balcatta Road Balcatta, 6021 WA Principal banker Commonwealth Bank 95 William Street Perth, 6000 WA David Buckingham Non-Executive Chairman Stephen Cornish Managing Director Timothy Cornish Non-Executive Director Dalton Gooding Non-Executive Director Dominic O’Hanlon Non-Executive Director Share register Automic Group Level 5, 191 St Georges Terrace Perth, 6000 WA Telephone number: 1300 288 664 Auditor BDO Audit Pty Ltd Level 9, Mia Yellagonga Tower 2 5 Spring Street, Perth, 6000 WA Stock exchange listing Pentanet Ltd shares are listed on the Australian Securities Exchange (ASX) ASX code: 5GG 18 CORPORATE DIRECTORY Directors’ Report The Directors present their report, together with the financial statements, on the consolidated entity (referred to hereafter as the ‘consolidated entity’ or Group) consisting of Pentanet Ltd (referred to hereafter as the ‘Company’ or ‘parent entity’) and the entities it controlled at the end of, or during, the year ended 30 June 2026. Directors The following persons were Directors of Pentanet Ltd during the whole of the financial year and up to the date of this report unless otherwise stated: David Buckingham (Non-Executive Chairman) Stephen Cornish Timothy Cornish Dalton Gooding Dominic O’Hanlon Company Secretary Patrick Holywell Principal Activities The principal activities of the group consisted of the provision of internet access and associated telecommunications products and services, and cloud gaming and gaming technology services. Dividends There were no dividends paid, recommended, or declared during the current or previous financial year. 19 DIRECTORS' REPORT Operating and Financial Review Pentanet’s Business Model and Objective Pentanet is proud to be Perth’s own telco, dedicated to delivering exceptional internet connectivity to the community – and, as an NVIDIA Alliance Partner, the home of cloud gaming in Australia and New Zealand. Pentanet’s privately owned-and-operated Fixed Wireless network sets us apart. For those beyond the Company’s network reach, we offer nbn® and Opticomm services. Since its launch, Pentanet’s Fixed Wireless network has become a favourite among consumers and investors. Unlike other telcos that mainly rely on reselling nbn and other fixed-line services, Pentanet delivers a reliable, high-speed connection through the Company’s private infrastructure. In doing so, the Company provides subscribers with exceptional internet experiences while achieving notably higher margins compared to typical nbn services. Beyond connectivity, Pentanet operates a second revenue stream built on the same infrastructure base. As NVIDIA's GeForce NOW Alliance Partner for Australia and New Zealand, the Company delivers cloud gaming to consumers through its CloudGG platform, monetising its NVIDIA GPU infrastructure through gaming subscriptions at high gross margins. Pentanet's objective is to maximise the return on its leading-edge, largely paid-for infrastructure by increasing utilisation across both revenue layers. Because cloud gaming demand peaks in the evenings and on weekends, GPU capacity that would otherwise sit idle during business hours can be directed to other GPU-intensive applications too, generating the opportunity for incremental new revenue at minimal additional cost and extending the Company's operating leverage. Review of Operations The loss for the consolidated entity after providing for income tax and other comprehensive income amounted to $6.9 million (30 June 2025 $4.5 million loss), reflecting a 55% YoY deterioration. This result includes a non-cash impairment loss of $4.0 million recognised on GeForce NOW Gen 2 RTX servers following NVIDIA's end-of- service-life notification and the decommissioning of that platform in April 2026. Excluding this one-off, non-cash item, the loss for the year was $3.0 million, an improvement of $1.5 million (33%) on the prior year. The Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) was $2.4 million (30 June 2025 $1.4 million), representing a $1.0 million YoY improvement. The Company closed the year with $1.5 million in cash reserves. It plans to continue to increase top-line growth by converting its registered gaming audience to paid memberships and optimising utilisation of its 5G and GPU infrastructure. Detailed commentary on the results for the year can be found in the Operating and Financial Overview section on page 7. Risk Management The Company takes a proactive approach to risk management. Senior Executives, under the supervision of the Board, are responsible for identifying and analysing risk exposure and reporting regularly to the Board. The Board is responsible for overseeing this process and ensuring that the Company objectives and activiti