AEERIS LTD — Interim / Quarterly Report 2025

Feb 25, 2025

AEERIS LTD and its controlled entities Appendix 4D Half Year Report

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ASX Release: 26 February 2025
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Results for announcement to the market

	31 Dec 2024 $	31 Dec 2023 $	%
Revenue from Ordinary activities	1,800,494	1,369,407	31.48
(Loss) from ordinary activities after tax attributable to members	(240,744)	(503,852)	52.22
Net (Loss) attributable to members	(240,744)	(503,852)	52.22

The Company does not propose to pay a dividend.

Net tangible assets	31 Dec 2024 $	31 Dec 2023 $
Net tangible assets per ordinary shares	0.02	0.02

The further information required by the Listing Rule 4.2A.3 is included in the accompanying Financial Report.

Please refer to the Directors’ Report for an explanation of the operational and financial results for the Group.

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Bryce Reynolds Chairman

26 February 2025

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PO Box 1915, Kingscliff NSW 2487 | Level 8, 210 George Street, Sydney NSW 2000 Australia Phone: +61 2 6674 2711 www.aeeris.com

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Aeeris Ltd ABN 18 166 705 595 and Controlled Entities

Consolidated Interim Financial Report For the Half Year ended 31 December 2024

Aeeris Ltd

ABN 18 166 705 595 and Controlled Entities

Contents

Financial Report

Report
Directors’ Report	3
Auditor’s Independence Declaration	5
Consolidated Statement of Profit or Loss	6
Consolidated Statement of Financial Position	7
Consolidated Statement of Changes in Equity	8
Consolidated Statement of Cash Flows	9
Notes to the Financial Statements	10
Directors’ Declaration	15
Independent Audit Review Report	16

Aeeris Ltd

ABN 18 166 705 595

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Aeeris Ltd ABN 18 166 705 595

and Controlled Entities

Directors’ Report for the Half Year Ended 31 December 2024

Your Directors present their report together with the Consolidated Financial Statements of Aeeris Ltd (“the Group”) for the half year ended 31 December 2024.

Directors

The names of the Directors in office during and since the end of the financial period, unless otherwise stated, are as follows:

Mr Bryce Reynolds, Chairman Mr Kerry Plowright, Chief Executive Officer

Mr Nathan Young, Non-executive Director

Ms Elissa Hansen, Non-executive Director

Review and results of operations and financial position

Aeeris Ltd is a leading Environmental Services company that delivers critical weather and climate intelligence through its subsidiaries, Early Warning Network and Climatics. The Group specialises in early environmental warnings and pioneering climate risk technologies, enabling asset owners and managers across diverse industries to proactively mitigate risk and safeguard life through cutting-edge services renowned for their unwavering accuracy.

For the half-year ended 31 December 2024, the Group reported a consolidated loss of $240,744, representing a substantial 52% improvement from the prior corresponding period's loss of $503,852. This result was supported by the receipt of a $458,701 research and development tax incentive, recognising the Group’s ongoing commitment to technological innovation.

During the period, revenue has continued to demonstrate positive momentum achieving an increase of 31.5% to $1,800,494 versus the previous corresponding period (1H23) of $1,369,407. This was driven primarily by increased demand for more precise and bespoke weather solutions. New revenue sources have emerged through additional products and services for the insurance industry, Tomorrow.io contracts, and the GIS platform, contributing to growth in Annual Recurring Revenue over the past 12 months.

The December half experienced an uplift in seasonal expenses, encompassing necessary investments in seasonal data and weather costs, insurance premium renewals, ISO registration, and payroll tax obligations, alongside increased research and development activities and compliance-related costs. The Group also made strategic investments aligned with its vision to expand its product offerings and strengthen its intellectual property portfolio, reflecting the Group’s commitment to innovation and new product development, and enhanced its customer governance framework through staffing additions, including a dedicated account manager, to improve service delivery and client relationships.

The Group’s recent performance is showing promising trends, and the Groups primary focus is now to become cash flow positive from existing operations in the next financial year. This goal has been enhanced by the Group reducing its reliance on external contractors and bringing services inhouse that are able to be automated and are open to AI applications. From FY2026, the Group has identified approximately $300,000 of net cost savings as outsource contracts expire at the end of the FY2025.

Aeeris Ltd

ABN 18 166 705 595

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These strategic investments in capabilities and team development, while impacting short-term profitability, position the Group for sustainable long-term growth.

Subsequent Events

There were no subsequent events since the end of the half year.

Auditor’s independence declaration

The lead auditor’s independence declaration is in accordance with section 307C of the Corporations Act 2001 , for the half year ended 31 December 2024 has been received and can be found on page 5.

Signed in accordance with a resolution of the Board of Directors:

Director: ______ Bryce Reynolds, Chairman

Dated this 26th day of February 2025

Aeeris Ltd

ABN 18 166 705 595

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AUDITOR’S INDEPENDENCE DECLARATION UNDER SECTION 307C OF THE CORPORATIONS ACT 2001 TO THE DIRECTORS OF AEERIS LTD AND CONTROLLED ENTITIES ABN: 18 166 705 595

In accordance with Section 307C of the Corporations Act 2001 , I am pleased to provide the following declaration of independence to the directors of Aeeris Ltd.

As the auditor for the review of the financial report of Aeeris Ltd for the half-year ended 31 December 2024, I declare that, to the best of my knowledge and belief, there have been no contraventions of:

• i. the auditor independence requirements as set out in the Corporations Act 2001 in relation to the review; and

• ii. any applicable code of professional conduct in relation to the review.

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MNSA Pty Ltd

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Mark Schiliro Director

Sydney 26[th] February 2025

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AEERIS LTD ABN 18 166 705 595 AND CONTROLLED ENTITIES

CONSOLIDATED STATEMENT OF PROFIT OR LOSS FOR THE HALF YEAR ENDED 31 DECEMBER 2024

Notes Revenue and Other Income Revenue 2 Other income 2 Total Revenue and Other Income Expenses SMS communication Data acquisition Weather reports Tomorrow.io Depreciation and amortisation Licence fees Subcontractors Consulting fees Employee benefits expense IT costs Share based payments – to other parties Other expenses from ordinary activities 3 Total Expenses Loss Before Income Tax Income tax expense Loss for the Period Earnings per Share From continuing and discontinued operations: - Basic loss per share (cents) - Diluted loss per share (cents) 10 10	Consolidated Half Year Ended 31 Dec 2024 $ 1,800,494 490,835 2,291,329 (70,588) (66,353) (250,768) (66,825) (709) (11,602) (87,885) (209,190) (1,392,026) (110,480) (14,598) (251,049) (2,532,073) (240,744) - (240,744) (0.33) (0.33)	Consolidated Half Year Ended 31 Dec 2023 $ 1,369,407 44,197
		1,413,604 (44,807) (36,738) (146,254) - (1,550) (16,794) (148,612) (85,806) (1,111,390) (71,943) (40,667) (212,895)
		(1,917,456) (503,852) -
		(503,852)
		(0.70) (0.70)

The above consolidated statement of profit or loss should be read in conjunction with the accompanying notes.

Aeeris Ltd

ABN 18 166 705 595

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AEERIS LTD ABN 18 166 705 595 AND CONTROLLED ENTITIES CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024

Notes Current Assets Cash & cash equivalents Trade & other receivables Other assets Total Current Assets Non-Current Assets Property, plant & equipment Total Non-Current Assets Total Assets Current Liabilities Trade & other payables Unearned income Provisions Total Current Liabilities Non-Current Liabilities Provisions Total Non-Current Liabilities Total Liabilities Net Assets Equity Issued capital 4 Share based payments reserve Accumulated losses Total Equity	Consolidated As at 31 Dec 2024 $ 1,527,379 466,116 134,242 2,127,737 16,160 16,160 2,143,897 334,897 236,046 141,841 712,784 22,966 22,966 735,750 1,408,147 6,543,621 220,723 (5,356,197) 1,408,147	Consolidated As at 30 Jun 2024 $ 1,904,545 526,564 28,561
		2,459,670
		7,571
		7,571
		2,467,241
		295,561 347,021 147,831
		790,413
		42,535
		42,535
		832,948
		1,634,293
		6,541,313 208,433 (5,115,453)
		1,634,293

The above consolidated statement of financial position should be read in conjunction with the accompanying notes.

Aeeris Ltd

ABN 18 166 705 595

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AEERIS LTD ABN 18 166 705 595 AND CONTROLLED ENTITIES

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE HALF YEAR ENDED 31 DECEMBER 2024

Consolidated Group Balance as at 1 July 2023 Loss for the financial period Issue of performance rights Conversion of Performance Rights Balance as at 31 December 2023 Balance as at 1 July 2024 Loss for the financial period Issue of performance rights Conversion of Performance Rights Balance as at 31 December 2024	Issued Capital Share Based Payments Reserve Accumulated Losses Total $ $ $ $ 6,516,861 206,809 (4,519,574) 2,204,096 - - (503,852) (503,852) - 40,667 - 40,667 15,812 (15,812) - -
	6,532,673 231,664 (5,023,426) 1,740,911
	6,541,313 208,433 (5,115,453) 1,634,293 - - (240,744) (240,744) - 14,598 - 14,598 2,308 (2,308) - -
	6,543,621 220,723 (5,356,197) 1,408,147

The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes.

Aeeris Ltd

ABN 18 166 705 595

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AEERIS LTD ABN 18 166 705 595 AND CONTROLLED ENTITIES

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE HALF YEAR ENDED 31 DECEMBER 2024

Cash flow from operating activities Receipts from customers Interest received Research and Development refund Payments to suppliers & employees Net cash (used in) operating activities Cash flow from investing activities Purchases of property, plant & equipment Net cash (used in) investing activities Cash flow from financing activities Proceeds from issue of shares Payments for issue of shares Net cash provided by financing activities Net (decrease) in cash held Cash & cash equivalents at the beginning of the period Cash & cash equivalents at the end of the period	Consolidated Half Year Ended 31 Dec 2024 $ 1,867,891 32,134 458,701 (2,725,610) (366,884) (10,282) (10,282) - - - (377,166) 1,904,545 1,527,379	Consolidated Half Year Ended 31 Dec 2023 $ 1,445,413 44,197 - (1,819,946)
		(330,336)
		-
		-
		- -
		-
		(330,336) 2,581,492
		2,251,156

The above consolidated statement of cash flows should be read in conjunction with the accompanying notes.

Aeeris Ltd

ABN 18 166 705 595

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AEERIS LTD ABN 18 166 705 595 AND CONTROLLED ENTITIES NOTES TO THE FINANCIAL STATEMENTS

FOR THE HALF YEAR ENDED 31 DECEMBER 2024

NOTE 1. Statement of Significant Accounting Policies

Basis of Preparation

These general purpose interim financial statements for the half year reporting period ended 31 December 2024 have been prepared in accordance with requirements of the Corporations Act 2001 and Australian Accounting Standard AASB 134: Interim Financial Reporting . The Group is a for-profit entity for financial reporting purposes under Australian Accounting Standards.

This interim financial report is intended to provide users with an update on the latest annual financial statements of Aeeris Ltd and its controlled entities (referred to as the “Consolidated Group” or “Group”). As such, it does not contain information that represents relatively insignificant changes occurring during the half year within the Group. It is therefore recommended that this financial report be read in conjunction with the annual financial statements of the Group for the year ended 30 June 2024, together with any public announcements made during the following half year.

Accounting Policies

The same accounting policies and methods of computation have been followed in this interim financial report as were applied in the most recent annual financial statements.

The Group has considered the implications of new or amended accounting standards but determined that their application to the financial statements is either not relevant or not material.

Critical Accounting Estimates and Judgments

The Directors evaluate estimates and judgements incorporated into the financial statements based on historical knowledge and best available current information. Estimates assume a reasonable expectation of future events and are based on current trends and economic data, obtained both externally and within the company.

Key Estimates

Capitalisation of development costs

Development costs associated with intangible assets are only capitalised by the Group when it can demonstrate the technical feasibility of completing the asset so that the asset will be available for use or sale, how the asset will generate future economic benefits and the ability to measure reliably the expenditure attributable to the intangible asset during its development.

Aeeris Ltd

ABN 18 166 705 595

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AEERIS LTD ABN 18 166 705 595 AND CONTROLLED ENTITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2024

Key Judgements

Share-based payment transactions

The Directors measure the cost of equity-settled share-based payment transactions with employees by reference to the fair value of the equity instruments at grant date. The fair value is determined by an external valuer using the Black Scholes Model simulation. The accounting estimates and assumptions relating to equity-settled share-based payments would have no impact on the carrying amounts of assets and liabilities within the annual reporting period but may impact expenses and equity.

Revenue

The Directors have assessed the impact of AASB 15: Revenue from Contracts with Customers on the financial statements and have determined that other than unearned revenue, the Group has recognised revenue to depict the transfer of services to customers in an amount that reflects the consideration to which the Group expects to be entitled in exchange for the services.

Unearned revenue

The Directors have assessed the impact of AASB 15: Revenue from Contracts with Customers on the financial statements and have determined that unearned revenue reflects the value of consideration that has or will be received before the transfer of services is made to customers.

Aeeris Ltd

ABN 18 166 705 595

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AEERIS LTD ABN 18 166 705 595 AND CONTROLLED ENTITIES NOTES TO THE FINANCIAL STATEMENTS

FOR THE HALF YEAR ENDED 31 DECEMBER 2024

NOTE 2. Revenue and Other Income Revenue from ordinary activities Sales revenue: Subscription income Other revenue: Interest received R&D refund NOTE 3. Other Expenses Other expenses from ordinary activities Advertising Secretarial fee Insurance Travelling & accommodation Registry services Other operating expenses NOTE 4. Issued Capital Fully Paid Ordinary Shares Capital Raising Costs Closing balance Ordinary Shares Opening Issued Capital Conversion of Performance Rights – 5 November 2024 Conversion of Performance Rights – 21 December 2023 At the end of the reporting period	Consolidated Half Year Ended 31 Dec 2024 $ 1,800,494 1,800,494 32,134 458,701 490,835 33,976 19,448 21,366 21,312 4,752 150,195 251,049 Consolidated As at 31 Dec 2024 $ 7,276,985 (733,364) 6,543,621 No. 73,013,858 135,000 - 73,148,858	Consolidated Half Year Ended 31 Dec 2023 $ 1,369,407
		1,369,407
		44,197 -
		44,197
		65,751 18,927 26,587 11,185 2,931 87,514
		212,895
		Consolidated As at 30 June 2024 $ 7,274,677 (733,364)
		6,541,313
		No. 71,583,858 - 1,430,000
		73,013,858

NOTE 5. Dividends

No dividends were declared or paid during the period.

Aeeris Ltd

ABN 18 166 705 595

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AEERIS LTD ABN 18 166 705 595 AND CONTROLLED ENTITIES NOTES TO THE FINANCIAL STATEMENTS

FOR THE HALF YEAR ENDED 31 DECEMBER 2024

NOTE 6. Events after the End of the Interim Period

There were no subsequent events since the end of the half year.

NOTE 7. Interest in Subsidiaries

The consolidated financial statements include the financial statements of Aeeris Ltd and its controlled entities.

controlled entities.
Company	Place of Incorporation	Principal Activities	% of issued shares owned
Early Warning Network Pty Ltd	Australia	Early Warning Notifications	100%
Climatics Intelligence Pty Ltd (incorporated 4thSeptember 2023)	Australia	Analytical Platform	100%

NOTE 8. Operating Segments

There was only one operating segment during the period which was early warning notifications.

NOTE 9. Contingent Liabilities

There has been no change in contingent liabilities since the last annual reporting period.

NOTE 10. Earnings Per Share

Weighted average number of ordinary shares used in calculating basic and diluted earnings per share. Net Loss after income tax attributable to shareholders Basic loss earnings per share Diluted loss earnings per share	No. of Shares As at 31 Dec 2024 No. of Shares As at 31 Dec 2023 73,054,945 71,722,880 Consolidated Half Year Ended 31 Dec 2024 Consolidated Half Year Ended 31 Dec 2023 $ $ (240,744) (503,852) Cents Cents (0.33) (0.70) (0.33) (0.70)

Aeeris Ltd

ABN 18 166 705 595

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AEERIS LTD ABN 18 166 705 595 AND CONTROLLED ENTITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2024

NOTE 11. Fair Value Measurements

All financial instruments for which fair value is recognised or disclosed are categorised within the fair value hierarchy, described as follows, and based on the lowest level input that is significant to the fair value measurements as a whole:

Level 1 – Quoted market prices in an active market (that are unadjusted) for identical assets or liabilities.

Level 2 – Valuation techniques (for which the lowest level input that is significant to the fair value measurement is directly observable).

Level 3 – Valuation techniques (for which the lowest level input that is significant to the fair value measurement is unobservable).

The following table represents a comparison between the carrying amounts and fair values of financial assets and liabilities:

	Level	As at 31 December 2024	As at 31 December 2024	As at 30 June 2024	As at 30 June 2024
		Carrying amount	Fair value	Carrying amount	Fair value
		$	$	$	$
Financial assets
Cash & cash equivalents	1	1,527,379	1,527,379	1,904,545	1,904,545
Trade & other receivables	1	466,116	466,116	526,564	526,564
Other assets	1	134,242	134,242	28,561	28,561
Financial liabilities
Trade & otherpayables	1	334,897	334,897	295,561	295,561
Unearned income	1	236,046	236,046	347,021	347,021

The following table represents a comparison between the carrying amounts and fair values of nonfinancial assets and liabilities:

	Level	As at 31 December 2024	As at 31 December 2024	As at 30 June 2024	As at 30 June 2024
		Carrying amount	Fair value	Carrying amount	Fair value
		$	$	$	$
Non-financial assets
Property, plant and equipment	2	16,160	16,160	7,571	7,571
Non-financial liabilities
Provisions	2	164,807	164,807	190,366	190,366

Aeeris Ltd

ABN 18 166 705 595

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AEERIS LTD

ABN 18 166 705 595 AND CONTROLLED ENTITIES

Directors’ Declaration

In accordance with a resolution of the directors of Aeeris Ltd, the Directors declare that:

1. The financial statements and notes, as set out on pages 6 to 14, are in accordance with the Corporations Act 2001 , including:

2. (a) complying with Accounting Standard AASB 134: Interim Financial Reporting ; and

3. (b) giving a true and fair view of the consolidated group’s financial position as at 31 December 2024 and of its performance for the half year ended on that date.

4. In the directors’ opinion there are reasonable grounds to believe that the Company will be able to pay its debts as and when they become due and payable.

Director: ____

Bryce Reynolds, Chairman

Dated this 26th day of February 2025

Aeeris Ltd

ABN 18 166 705 595

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INDEPENDENT AUDITOR'S REVIEW REPORT TO THE MEMBERS OF AEERIS LTD ABN 18 166 705 595 AND CONTROLLED ENTITIES

Report on the Half-year Financial Report

Conclusion

We have reviewed the half-year financial report of Aeeris Ltd and controlled entities, which comprises the consolidated statement of financial position as at 31 December 2024, the consolidated statement of profit or loss and other comprehensive income, the consolidated statement of changes in equity and consolidated statement of cash flows for the half-year then ended, a summary of significant accounting policies and other explanatory information, and the directors’ declaration.

Based on our review, which is not an audit, we have not become aware of any matter that makes us believe that the accompanying half-year financial report of Aeeris Ltd does not comply with the Corporations Act 2001 including:

• (a) giving a true and fair view of the Aeeris Ltd financial position as at 31 December 2024 and of its performance for the half year ended on that date; and

• (b) complying with Accounting Standard AASB 134: Interim Financial Reporting and the Corporations Regulations 2001 .

Basis for Conclusion

We conducted our review in accordance with ASRE 2410: R eview of a Financial Report Performed by the Independent Auditor of the Entity . Our responsibilities are further described in the Auditor’s Responsibilities for the Review of the Financial Report section of our report. We are independent of Aeeris Ltd in accordance with the auditor independence requirements of the Corporations Act 2001 and the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110: Code of Ethics for Professional Accountants (including Independence Standards) (the Code) that are relevant to our audit of the annual financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code.

We confirm that the independence declaration required by the Corporations Act 2001 which has been given to the directors of Aeeris Ltd, would be in the same terms if given to the directors as at the time of this auditor’s review report.

Responsibility of the Directors for the Financial Report

The directors of the group are responsible for the preparation of the half-year financial report that gives a true and fair view in accordance with Australian Accounting Standards and the Corporations Act 2001 and for such internal control as the directors determine is necessary to enable the preparation of the half-year financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error.

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Auditor’s Responsibility for the Review of the Financial Report

ASRE 2410 requires us to conclude whether we have become aware of any matter that makes us believe that the half-year financial report is not in accordance with the Corporations Act 2001 including giving a true and fair view of the Group’s financial position as at 31 December 2024 and its performance for the half-year ended on that date, and complying with Accounting Standard AASB 134: Interim Financial Reporting and the Corporations Regulations 2001 .

A review of a half-year financial report consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Australian Auditing Standards and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

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MNSA Pty Ltd

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Mark Schiliro Director

Sydney 26[th] February 2025

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