Today I will be presenting our first half 2026 results. Consistent with our advice to market in December, Atturra's results for the half year had a material one.

I'll highlight the profit impact only affects the first half. In the second half, all impact on profit.

Fortunately, Atturra business model is flexible enough to absorb and deliver against our guidance for the second half. I also understand as the management team and myself.

We take this seriously and have put in place processes to ensure it. It is important that you review the presentation pack, understanding the disclosure on this page.

This slide shows the agenda. I will cover the results summary, then go into a business to take us through the financial performance.

Then I'll take you through strengths and capabilities again. Let me start with the Snapistry, an IT solutions provider with a focus on helping our clients transform their businesses.

Revenue is up 28% to 181 million. In the continued increase in headcount across the company, where we now have over 1,300 staff.

It is, however, anticipated that with the productivity benefits from AI that the rate of revenue growth. Unfortunately, our strong revenue growth was not reflected in our results, primarily because of a large contract dispute that Atturra announced to market in December half three items.

As a result, our underlying EBITDA was down 46% on PCP. In terms of cash, we ended the half with in excess of cash.

We'll provide more details on our cash flows later in this presentation. The slight decrease in other revenue due to the growth in our data and ERP businesses and the movement of some clients from the recurring to long-term revenue category.

Before we jump into details, I want to do a graph on near-term priorities, which are consistent with those stated at the end of FY25. Firstly, a focus on Atturra's proprietary solutions.

In accordance with our portfolio. Over the previous six months, we have developed significant traction in ACP, in particular Boomi ACP, and also Scholarion, our school management ERP data accelerators, which not only provide Atturra a competitive advantage in projects, but also to help clients manage their environments.

The second area of focus in our prior results, Atturra will continue to expand its managed services business and see it as a strong, stable and predictable recurring revenue. In the first half, we acquired Blue Connections, allowing Atturra to combine our end-user compute and device businesses.

Focus area is sales expansion. Atturra has executed upon our strategy of setting up a larger longer-term sales.

In the second half of FY26, additional sales in several focus areas. These areas that can deliver above market growth, in particular AI.

The fourth area is AI and data. Six months ago, Atturra highlighted this, and this is now accelerating.

As I will discuss shortly, AI has gone from core focus and we are taking an AI first approach. This is both internally and externally.

This slide covers the Atturra business strategy. Although our vision remains unchanged, we strategically have made some changes around simplifying the business, focusing on EBIT first.

For this half and into FY27, we have an actively focus on how we can better monetise our strong position within our data capability. It's also mentioned there is a focus on improving our earnings, a strenuous focus on operational performance.

We're implementing a new continuous benchmarking process. As a result, I have appointed a full-time director to focus on business improvement and measurement.

Atura is taking an AI first approach. Although this transition really started in earnest back in early AI adoption, primarily operational stabilisation and resourcing, we have certainly recruited two dedicated executives to drive our transformation.

One internal process adoption and change, while the other is focused on external data market activity. With 270 AI and data experts means Atturra should be able to disproportionately benefit.

There is significant information in the market around the growth of AI research, which is showing that the Australian market is more than doubling. However, let's field quote.

A quote from AI itself, which thinks with all the curivity, humans are not looking at things correctly. They do not have in place for multiple, a social media platform for AI agents only.

Yes, that means that if you're a generic AI agent, you can watch it chat and make things up with other AI agents. The site is an AI agent's response to another AI agent question.

AI is now everywhere and yes, in many parts it is way overhyped, but in one way. For a company that has data at our heart, there is a massive opportunity, because garbage in means garbage out.

In order for to, we need to support these changes with an increased focus on sales investment, in particular in areas that we see significant growth opportunities, those being AI, fiber. I'll now hand to Herb to take you through our financial results.

Hello everyone, my name is Herb To. I'm Chief Financial Officer for Atturra.

Our half 31 December 2025. The first slide here highlights the key profit and loss results for the six-month period ended 31 December 2024.

As Stephen has highlighted, gross on revenue of $180.6 million. Plenty of the business has remained stable with a growth of 27% on PCP.

EBIT has declined by 10% on PCP of FY26, some of which is non-recurring, including provision for debt for work performed to date, which is non-recurring, $2 million in organisational restructuring, $1.5 million in integration costs, which is non-recurring integration, which is ongoing. We've highlighted underlying EBITDA as an important measure.

We exclude non-recurring expenses and revenue. In FY26, we've added back share-based action and retention costs, acquisition-related integration costs, and organisational 25.

We added back share-based payments, gain on bargain purchase and retention costs, acquisition-related integration costs, and capital raising costs. This 7.3 million from PCP, which is consistent with the reconciling items that EBIT variance.

The next slide details underlying EBITDA, or intangible amortisation and acquired software amortisation. Underlying EBITDA also adds after adjusting for the impact of tax.

This metric provides the underlying profitability of the group. The underlying EBITDA of the business of $2.1 million has decreased by $6.3 million on PCP.

The next slide is a summary balance sheet. It compares balances at the end of the current period, December 2025, the end of FY25.

The company continues to maintain a $8.6 million, a decrease of 36% or $33 million from six months ago, in our subsidiaries and our share buyback programs. We have net tangible assets of $16.5 million.

This cash flow slide is a summary of the sources and applications of funds. It compares cash flow from the current period to the six months ended 31 December 2024.

It's from 91.6 million to 58.6 million. Overall inflows and outflows $4 million, a movement of $15.8 million to PCP.

Seasonality and timing often tend to be slightly volatile and may show large movements from period to period. For this period PCP, include timing of the payroll for the last cycle of the pay period of 3.1 million, restructuring costs of 2 million, payment in the period of 1.6 million, deposits held by Confluence 1.5 million.

Cash outflows also include 17.2 million, comprises subsidiaries acquired in FY26 of 12.1 million, plus current subsidiaries of 5.3 million. This compares with the investment in subsidiary.

In the current period, cash inflows include 8.3 million drawdown of… Now I'll hand back to Stephen, and we'll be pleased to answer any questions in the Q&A later on in this session.

Thank you, Sharon. In August 2025, Atturra disclosed, and I wanted to provide a brief update on each of these.

Firstly, build in-house from Microsoft D365. When complete, in mid, the total will be 12 modules, which can be used as an entire integrated system, or just select.

We have sold two licenses to early adopters and had a target to have six schools. We have already hit the six schools targeted.

Yes, pre-release. More exciting is the initial target, because our most recent signing is Haileybury College, and it's not a school.

The deal covers multiple campuses and not just the Melbourne campus. However, together with our clients, we're doing a major change to our core finance to that of Dynamics.

This change is now due in December 2026. It's investment in the product business in FY26 and 27 to support this growth.

Aggressive target, given the sales cycle for schools is 12 to 18 months, and is only scheduled for 30th of June 2026. Platform.

I'm very excited about the possibilities of our Atturra Cloud platform. This is an overarching branding for a set of hosted solutions.

I called out that in FY25. In FY26, we are well on track to achieving that with the current forecast, with BCP for the full year in our cloud business.

A key business is our Boomi ACP solution, which is a fully managed and monitored Boomi solution, for tender 2024, with two early adopters as clients. A very solution.

By the end of FY25, we have 35 clients, and at the end of the first 52 clients. Our objective is to have organic ACP growth of a client every six.

Our strategy is continuing to have both an organic and inorganic component acquisition targets. Depending on pricing, high priority targets will be those that increase AI, cyber, cloud, and data.

The only other area, which Atturra, is organically growing its ServiceNow practice, and we may look at accelerating our growth through an acquisition, albeit it is a lower priority. It is important to cover acquisition, integrating all our acquisitions.

Following the acquisition of a business, Atturra's focus simply bringing in Atturra culture and operating processes. One of the key reasons that our acquisition program cultures, to ensure these align.

This also ensures we do not lose the secret sauce. Atturra, as mentioned before, however does believe in full system integration, and this is the drive.

This done ensures we have consistent systems and processes that are scalable over time, the acquisitions that we made in the second half of FY25, and the one acquisition we make, that being Blue Connections, which is focused on expanding our managed services footprint. However, because some of the complexities in the combination of both Atturra and Blue Connections, where this system integration is not scheduled until FY27.

Consistent with our guidance for the full year, Atturra is forecasting revenue in the range of $74 million and underlying EBITDA in the range of 30 to 31 million, of, in the second half, underlying EBITDA of roughly 23 to 24 million as a result of an adverse contract termination, and as a result, Atturra has changed our whip. Despite the poor first half, both because of its strong market position, but also because of its leadership in the data domain approach, supported by over 270 data experts, and we are rapidly upskilling many.

Secondly, we will continue to invest and develop our solutions and IP, with clear and also to continue to expand our ACP offerings. On EPS, we'll also bring additional sales resource in the area that we see above AI, cyber, cloud, and data.

As I mentioned previous year, Atturra is forecasting revenue in the range of 364 to 372 million. I'm very confident of Atturra's positioning as we look into FY27, billion sales.

I now happy to move to Q&A.

I'll address that one. Look, it's a good question and disruptive or beneficial, and I think the 100% honest answer is it's a bit of both in that process, as are many other companies.

It is opportunity for growth, but also going to change a lot and is starting to change. Coding is probably the easiest example.

Productivity is up 30, 40, 50%, probably 1, 2, 3, and that's a reduction in work going forward. What we're seeing in practice is actually what's happening is that people have just got higher expectations of what they can get and how they can get it done.

We provide some of those services by having a deep industry knowledge and that data practice, especially in the commercial space. Companies are going to spend more and more disruption going forward.

I don't run into any companies that say they're going to spend less on it. The expectation is going up, and I think, especially in the SMB market, upper SMB and enterprise markets, the thing that's more important is security, forcing internally to obviously invest a lot and make sure that we're keeping up.

The pace of change, in reality, we have to change kind of every 12, 18 months, and it's almost like it's quite an insane time. If you don't do that, you don't keep up.

In summary, I think it's a huge upside. The short to medium term is people fill with AI and implement AI and work.

Hi, Steve. Hi, Herb.

Can you guys hear me all right?

Yes,

two questions for me on behalf of Josh. Firstly, could you talk about some of your internal AI use on potential impacts on charge-out rates for the customers, as well as upside or downside risks

to...? Look, it's a good question, and I'll give you our view, and it probably changes on a daily basis.

Sales, marketing, market intelligence, and automating that, and then in-app sort of ticket handling and self-healing capability. That’s just that you’ve got to do it to stay.

It’s going to get more and more expectations. Theoretically, you’d think going up at the same time, but that’s internally.

The other one that we did, which is a real experiment for us between Identic Agents, as we’re starting up a new line of business, ServiceNow, to be transparent, to do the market intelligence, a lot of the market prospecting, even what would have taken a long time and a significant overhead to start up a new practice. We’ve got four people instead of a team of probably ten.

That’s a huge opportunity to enter a new market. The biggest ones, we’ve got some other ones that are kind of more common, and I’d almost call it ML around error detection.

The big changes for us are that marketing, self-healing, and part of Josh’s question.

That was really helpful. Second one for me is, how should we think about the opportunities for your data practice as companies prepare businesses for?

Yeah, We’re AI first. We’re seeing huge demand into the data practice now as people start, and they’ve worked out the first thing they’ve got to get under control — actually the second thing they’ve got under control.

The first thing they’re getting under control, really good consulting work that we’re getting there, but the second bit is then the data structures, in and out. We’re seeing big demand.

We did see historically, the difference that we’re seeing now is they’re no longer conversations; they’re actually projects, activities, actively doing it. I think, particularly FY27, FY28, it’s not going to be a shortage of jobs in that space that people are talking about.

There’s a lot of work to be done.

Thanks for that.

No worries. Thanks for, look, obviously a lot to digest in terms of this, and obviously a lot also going on in your business through the period.

You’ve at times called out cloud and the sovereign capability, both in terms of your consultants, there’s a bit of emphasis coming through, I think, with some of the AI compute. Can you sort of give us an idea around your exposure there?

Our cloud, we ended FY25 about 30 million. We said we’re going to do double digits there.

Our cloud environment is a combination of hyperscalers and non-hyperscaler service. We actually see that as a strong growth opportunity, and I’ll give you one client example that I’ll present confidentially.

eTronics is a really good example. We went and put AI security.

You all have seen TV where someone sits down and watches all those screens or antiquated systems. Effectively AI across that to kind of give all the inference information to that organisation project.

We actually now provide that inference as a service. We’re actually using our GPU in cloud to actually do our stuff coming down depending on the company and the use case and their data requirements.

It’s a huge opportunity for cloud, and that’s stuff that’s driving into our cloud business.

Thanks. I appreciate the context.

Just on the cash flows, I think you’ve called out just sort of an inventory build in one of the new acquisitions there, and also just is that sort of unwound or unwinding this period? So

with regards to cash flow, the increase in inventory does make up a component of the cash flow step up from the acquisition of Blue Connections, because they are a rather different business compared to us, but we did get the benefit of their full year of revenue — sorry, their full period of revenue — one-off non-recurring event in the half. A larger part of the cash outflow, the last, believe it or not, the last payroll cycle in the period where we had the payroll leave our cash reserves in this period, it left our cash reserves just before.

It resulted in an, obviously, a cash outflow for the period compared to.

Understand. Thanks for the second half.

You’ve reiterated the guidance for the second half, which provides obviously pretty also say out of your business. Can you describe sort of the margin profile?

Are we expecting gross margins to step up alongside? The

things that affect that, obviously, you’re right, we always have a better second half. We always had an efficiency normal.

You will see a bit of margin expansion delivering that, and that’s just a second half number that our investors would have expected to have our normal first second half split. As we roll in FY27, you’ll go back to our normal ratio, quite a strong first half next year and a stronger second half.

Thanks, Stephen.

Morning. Done for hitting your updated guidance despite the unfortunate loss.

If you could just give us a little bit of colour, was that a customer that was relatively new to Atturra, was it more of that they terminated that contract early?

It’s a bit of an unusual one and very careful wording in our announcement last year. Yes, it was a new client.

In our opinion, obviously being careful with my words, they didn’t really follow the right real cause from our point of view. They just decided to stop and run up too much, which obviously is something we make sure we change our processes on.

It has a new client. It’s a really unusual one.

I’ve not seen it in 30 years.

Maybe just turning as well, it’s really exciting seeing some of the IP and proprietary offerings. Just on the traditional business, what are you seeing in terms of public sector and defence budgets and demand?

Look, in the medium term, I think, yeah, defence spending is going to increase, definitely. It’s bottom of market, but it may be bottom of market for a while.

What we’re continuing, we’re putting all our focused effort on growth outside of those core areas. What we see is probably a pretty flat period over the next one, two, maybe even three years.

Great. Thanks very much, and look forward to seeing the recovery.

look forward to a very positive next update for the full year results. Thank you.