Chairpersons address at the ASM

03/12/2025 09:45 NZDT, GENERALP

Annual General Meeting Address

3 December 2025

Nick Paul - Introduction; tone of the year for FY25

• Welcome to Susie Stone on the board

• FY25 was a year of “incremental improvement but still a lot of hard work to do”

• Group highlights:

o Substantial growth of 14% in revenue from $21.9 to $24.5M

o Kilimanjaro revenue increased from $20.45 to $23.11M, although Operating profit declined to $537k (FY24: $1.25 million), largely due to margin pressures and investment in Recipe Marketing – Hubspot Implementation business.

o iSell improved from -$434k to $238k achieving profitability for first time

o Datagate hit the $5M revenue ARR mark, fuelled by growth in USA and Europe

o Group Operating profit improved from -$300k to -$85k – launchpad, to need continue to work hard to improving this in FY26

• We remain cautiously optimistic for the year ahead:

o Economies in both NZ and Australia showing signs of recovery

o Strong growth story in KC; globally of the Acumatica product in its category of mid-market ERP solution & addition of Hubspot as a key adjacent product to our Acumatica solution

o Continue to focus on supporting all our investments to accelerate their growth

Ronnie Baskind - What we did (Operational highlights of the year) financial perspective

• Continued growth within KC; core focus it to achieve profitable growth:

o Despite sluggish economic conditions in AUNZ, continue to grow – maintaining position as No 1 partner

o Statement of direction of Exo has given us extended runway desired to transition clients to Acumatica over next 5-10 years

o Ticked over 400 sites (up from 300 last year), including largest Acumatica sites globally

• Commentary on opportunity within KC and what’s happening in the MYOB/Acumatica world

• Introduction of Hubspot

Associate company’s

• Datagate – Brief Update

• iSell

o software continuing to develop - stability key

o popularity of ecommerce portals continues

o growth in USA forecast

Nick Paul - Summary & Focus for this FY

• Refinance OD – favourable rates

• Capital raising – support growth with working capital, raising equity to:

• Replenish working capital reserves following investments made in Recipe Marketing

• Continue the growth of Kilimanjaro Consulting Group in Australia and New Zealand.

• Invest further into iSell to achieve growth – eye on the US market in 2026.

• Continuation of improvement in governance and compliance

• Continued support of our associate companies

Questions to the board

Reserve: What we said we’d do (commitments from last years AGM)

The board remains committed to ensuring the group continues to build on this improved result. Our focus remains on:

• Maintaining and growing Group profitability; the first 5 months of this FY are showing very encouraging results with the business ahead of revenue and profit budget at this stage

• Continuing to strengthen our corporate governance and compliance with the work that Elliot is doing

• Supporting growth within the subsidiary companies; Datagate growth in its existing and new markets, iSell getting to break-even

Ends