AIRTASKER LIMITED — Capital/Financing Update 2025

Nov 16, 2025

Airtasker Limited ABN 53 149 850 457

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17 November 2025

ASX Announcement

Airtasker Limited (ASX:ART)

Equity Capital Raise Presentation

Airtasker Limited (ASX:ART) ( Airtasker ) is pleased to lodge the aached Equity Capital Raise Presentation provided to investors in conjunction with the institutional placement announced today.

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To receive regular Airtasker announcements and updates and to engage with management ' join Airtasker s Investor Hub or for more information visit investors.airtasker.com.

For further information, please contact:

Media Enquiries		Investor Relations
Andrea Philips		www.investors.airtasker.com
andrea.philips@airtasker.com		investors@airtasker.com

About Airtasker

Airtasker Limited (ASX:ART) is Australia’s leading online marketplace for local services, connecting people and businesses who need work done with people who want to work. With a mission to empower people to realise the full value of their skills , Airtasker aims to have a positive impact on the future of work by creating truly flexible opportunities to work and earn income. In 2025, Airtasker entered the world of Formula One™ through its partnership with the Visa Cash App Racing Bulls Formula One™ Team ( VCARB ). Since launching in 2012, Airtasker Taskers have completed more than 5 million tasks worldwide and Airtasker has put more than $720m into the pockets of Australian Taskers (net of Airtasker’s fees).

This announcement was approved for release by the Board of Directors of Airtasker Limited.

1

Meet the Taskies: Chief

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17 NOVEMBER 2025

EQUITY CAPITAL RAISE PRESENTATION

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*Not for release to United States wire services or distribution in the United States.

Disclaimer

This presentation has been prepared by, and is the sole responsibility of, Airtasker Limited ( Airtasker, the Company or the Group ) and is dated 17 November 2025.

This presentation has been prepared in relation to a placement of fully paid ordinary shares in Airtasker ( Shares ) ( Placement ). Taylor Collison Limited is lead manager to the Australian Placement ( Lead Manager ).

Currency of information

The information contained in this presentation is current as at the date of this presentation or such earlier date as specified in this presentation. Airtasker is under no obligation to update or keep the information represented in this presentation current past the date of presenting.

Summary information

The information in this presentation is of a general nature only and does not purport to be complete.

Not an oer

This presentation is not a prospectus or other disclosure document under Australian law (and will not be lodged with ASIC) or any other law, and is not an invitation or oer of securities in Airtasker for subscription, purchase or sale in any jurisdiction. This presentation is for information purposes only. No action has been taken to register the securities referred to in this presentation or otherwise to permit a public oering of securities in any jurisdiction.

Company, the Lead Manager or their respective directors, oicers, employees, agents or advisors nor a recommendation to acquire Shares. Neither this document nor anything contained in it forms the basis of any contract or commitment and no agreement to subscribe for securities will be entered into in reliance on this document. The information contained in the presentation has been prepared without regard to the recipients’ financial circumstances or investment objectives. It is incumbent upon the recipient to make its own independent assessment of Airtasker and take independent professional advice as necessary.

Third party information

Certain market and industry data used in connection with this presentation may have been obtained from research, surveys or studies conducted by third parties, including industry or general publications. Neither Airtasker nor any of its related bodies corporate, directors, employees, agents or advisers have independently verified any such market or industry data.

Historical information

Past performance information in this presentation is given for illustrative purposes only and should not be relied upon as, and is not, an indication of future performance nor Airtasker’s views on its future financial performance. Actual results could dier materially from those referred to in the presentation.

Forward looking information

This presentation contains certain forward-looking statements that involve risks and uncertainties. Airtasker can give no assurance that these expectations will prove to be correct. You are cautioned not to place undue reliance on any forward-looking statements. Actual results may dier materially from those anticipated in these forward-looking statements due to many important factors, risks and uncertainties including, without limitation, risks associated with future capital needs and general economic uncertainty. Airtasker does not undertake (and expressly disclaims) any obligation to release any revisions to any “forward-looking statement” to reflect events or circumstances after the date of this presentation, except as may be required under applicable laws.

Financial information

presented in an abbreviated form insofar as it does not include all the presentation and disclosures, statements or comparative information as required by the Australian Accounting Standards ( AAS ), the International Financial Reporting Standards ( IFRS ) (including the interpretations of the International Financial Reporting Interpretations Commiee) and other mandatory professional reporting requirements applicable to financial reports prepared in accordance with the Corporations Act 2001 (Cth). All currency is in Australian dollars unless indicated. All financial information is unaudited unless otherwise indicated.

Airtasker uses certain measures to manage and report on its business that are not recognised under AAS or IFRS. These measures are collectively referred to in this presentation as ‘non-IFRS financial measures’ under Regulatory Guide 230 ‘Disclosing non-IFRS financial information’ published by the Australian Securities and Investments Commission ( ASIC ). Management uses these non-IFRS financial measures to evaluate the performance and profitability of the overall business. Although Airtasker believes that these measures provide useful information about the financial performance of Airtasker, they should be considered as supplements to the income statement measures that have been presented in accordance with AAS and IFRS in Airtasker’s audited financial statements released on ASX and not as a replacement for them.

Eect of rounding

this presentation are subject to the eect of rounding. Accordingly, the actual calculation of these figures may dier from the figures set out in this presentation.

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Currency

All financial information in this presentation is in Australian dollars ($ or A$) unless otherwise stated. Certain amounts have been converted into Australian dollars for the purpose of this presentation.

Disclaimer

No representation or warranty, whether express or implied, is made by any person as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. You should carry out your own investigations and analysis of Airtasker and verify the accuracy, reliability and completeness of the information contained in this presentation. Neither Airtasker, the Lead Manager nor any of their related bodies corporate, directors, employees, agents and advisers accept any responsibility for any loss arising from anyone acting or refraining from acting in reliance on the contents of this presentation.

This document and the information in this document ( Confidential Information ) is strictly confidential. You must not copy, reproduce, quote or refer to the Confidential Information or give it to another person, in whole or in part, without the prior wrien consent of Airtasker, which may be withheld in its absolute discretion.

Distribution

The distribution of this document in jurisdictions outside Australia may be restricted by law. In particular, this presentation may not be distributed to any person, and securities may not be oered or sold in any country outstanding Australia except to the extent permied below. Persons who come into possession of this presentation who are not in Australia, should seek advice on and observe any such restrictions. Any failure to comply with such restrictions may constitute a violation of applicable securities laws.

In particular, this document has been prepared for publication in Australia and may not be released to US wire services or distributed in the United States. This document does not constitute an oer to sell, or a solicitation of an oer to buy, securities in the United States or any other jurisdiction. Any securities described in this document have not been, and will not be, registered under the US Securities Act of 1933 and may not be oered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the US Securities Act and applicable US state securities laws.

Acceptance

this document you acknowledge and agree to be bound by the terms and conditions set out in this disclaimer.

• Not for release to United States wire 2 services or distribution in the United States.

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EQUITY CAPITAL RAISE
PRESENTATION
Executive Summary
1 2 3 4
Strong start to FY26 with 1Q26 Airtasker UK 1Q26 revenue up Raising $10m equity capital by iHeartMedia - America’s no.1
Airtasker marketplaces [1] 83.3% [2] on pcp and Airtasker way of a placement of fully paid audio media company with 276
revenue up 20.5% [2] on pcp. USA revenue up 609.1% [2] on ordinary shares to fund a million monthly listeners to
Airtasker Australia [3] revenue up pcp - playbook is delivering disciplined program of targeted invest A$2.3m [4] in ASX:ART
12.8% [2] on pcp - on track for solid results with significant marketing investments into the under the placement as a
double-digit growth in FY26. opportunity to scale. UK and US marketplaces and cornerstone investor.
to provide additional balance
sheet flexibility.
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1. Includes all Airtasker marketplaces (principally Australia, the UK and US) and excludes the Oneflare marketplace.

2. All amounts are unaudited.

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3

1. Subscription is for US$1.5m based on USD1.00:AUD1.54 exchange rate.

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1Q26 Revenue [[1]] Highlights
Group Revenue [2] Airtasker Marketplaces Revenue [3] Airtasker International Revenue [4]
$13.8m $12.1m $1.5m
14.6% 20.5% 136.2%
1Q26 revenue 1Q26 revenue 1Q26 revenue on
on pcp on pcp pcp
1. All amounts are unaudited.
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1Q26 Revenue[[1]] Highlights

2. Includes all Airtasker marketplaces (principally Australia, the UK and US) and excludes the Oneflare marketplace. 4. Includes Airtasker marketplaces outside Australia (principally the UK and US).

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4

Airtasker AU[1] 1Q26 Revenue[2] up 12.8% on pcp

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Airtasker Australia Revenue
$10.6m
1Q26 revenue
12.8%
1Q26 revenue
on pcp
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• 1Q26 revenue up 12.8% on pcp to $10.6m and on track for FY26 double-digit growth.

• 4Q25 (Jun-25) and 1Q26 (Sep-25) are low season being autumn/winter in the southern hemisphere. Entering spring/summer high season in 2Q26 (Dec-25) and 3Q26 (Mar-26).

• Continuing to see strong growth in unprompted brand awareness (brand salience) in 1Q26 up 6% on pcp supported by successful roll out of partnerships with oOh!media and ARN.

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5

1. 1. All amounts are unaudited.

Airtasker UK[1] 1Q26 Revenue up 83% on pcp

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Airtasker UK GMV & Revenue

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$20m
Annualised
GMV run rate
C4 media
partnership
commenced
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• 1Q26 revenue up 83.3% on pcp, to $1.1m (£0.5m).

●

• 1Q26 TTM[1] GMV[2] up 72.7% on pcp, to $17.0m (£8.4m).

• 1Q26 TTM revenue up 114.8% on pcp, to $3.4m (£1.7m).

• Maintaining solid GMV ARR[4] in low season with Sep-25 GMV ARR $20.1m[5] (Jun-25: $21.0m) - targeting strong seasonal uplift in 3Q26 (Mar-26) and 4Q26 (Jun-26), being northern hemisphere spring/summer high season.

• All amounts are unaudited.

• TTM means trailing twelve months. 3. GMV means gross marketplace volume. 4. ARR means annualised run rate. 5. Sep-25 GMV multiplied by 12.

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6

Airtasker USA[1] 1Q26 Revenue up 609% on pcp

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Airtasker USA GMV & Revenue
$6.6m
Annualised
GMV run rate
US media
partnerships
commenced
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• 1Q26 revenue up 609.1% on pcp, to $0.4m (US$0.2m).

• 1Q26 TTM[2] GMV[3] up 376.3% on pcp, to $4.1m (US$2.7m).

• 1Q26 TTM revenue up 566.9% on pcp, to $0.9m (US$0.6m).

• Maintaining solid GMV ARR[4] in low season with Sep-25 GMV ARR $6.6m[5] (Jun-25: $7.5m) - targeting strong seasonal uplift in 3Q26 (Mar-26) and 4Q26 (Jun-26), being spring/summer high season.

• All amounts are unaudited.

• TTM means trailing twelve months.

• GMV means gross marketplace volume. 4. ARR means annualised run rate. 5. Sep-25 GMV multiplied by 12.

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7

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Airtasker to expand strategic partnership with iHeartMedia to accelerate growth in the US

Alongside a cornerstone investment of A$2.3m[1] in ASX:ART, iHeartMedia will also expand it’s strategic partnership with Airtasker USA Inc providing an additional US$5.0m (A$7.6m[2] ) in media and advertising resources to further accelerate growth via:

• 860+ streaming/broadcast stations in 160 US cities

• ● A podcast network with 378m+ monthly downloads

• Some of the biggest events in pop culture including the iHeartRadio Music Awards and iHeartRadio Music Festival.

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1. Investment via an issuer-convertible note of US$5.0 million based on USD1.00:AUD1.54 exchange rate. See slide 10 for further details.

2. Subscription is for US$1.5m based on USD1.00:AUD1.54 exchange rate.

8

Australian market continues cash generation after covering all global head office costs

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• Australian marketplaces[1] generated cash flows of ~$34.6m[5] in FY25 (up 11.6% on FY24) after covering:

• Australian sales and marketing;

• Customer service operations; and

• All other direct Australian operating costs.

• After covering all global head oice cash expenditure[2] , Australia generated cash flows of ~$15.2m[5] in FY25 (up 18.8% on FY24) demonstrating increasing operating leverage.

• Australian marketplaces[1] continue to generate the cash required to co-invest with media partners in the UK and US markets. As at 30-Sep-25, $15.2m of cash and $23m[6 ] of prepaid media assets available to support growth.

• 1Q26 Group cash flow reflects low seasonality for the Australian marketplaces[1] cash receipts, a number of one-o payments, annual pre-payments as well as seasonally higher marketing payments for international marketplaces.

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1Q26 [5] 1Q25 [5] FY25 [5] FY24 [5]
($m) ($m) ($m) ($m)
Australian marketplaces [1]
Revenue 12.3 11.4 49.2 45.2
Expenses (4.3) (3.6) (14.6) (14.2)
Australian marketplaces cash flow [3] 8.0 7.8 34.6 31.0
Global head oice expenditure [2] (5.5) (5.5) (19.4) (18.2)
Australian marketplaces cash flow
(after covering global head oice 2.5 2.3 15.2 12.8
expenditure)
UK and US cash investment [4] (6.4) (2.2) (14.0) (11.6)
Group cash flow (3.9) 0.1 1.2 1.2
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4. 1. All amounts are unaudited and their presentation is non-AAS and non-IFRS compliant.

5. This amount excludes the issuer-convertible note provided to Channel 4 Ventures on 8-Oct-25 for $5.1m (£2.5m).

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9

Additional Information: Media Partnership Strategy

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Strategy Airtasker’s media partnership strategy is designed to enable acceleration of brand awareness and market penetration
with minimal cash outlay through the exchange of equity or issuer-convertible notes, which at Airtasker’s option, are:
○ in the case of equity: re-purchaseable by the Group in cash or scrip; or
○ in the case of issuer-convertible notes: repayable in cash or convertible into equity at a discount to an agreed valuation.
The strategy includes Airtasker investing alongside its media partners to continue to foster further media-for-equity
transactions and create balance sheet flexibility.
Current iHeartMedia, TelevisaUnivision, Sinclair Broadcast Group, Mercurius Media Capital, Channel 4 Ventures, oOh!media and
Partnerships ARN – securing over $58m [1] in premium advertising inventory across the US, UK, and Australia.
Impact Access to leading broadcast, digital and audio networks, enabling Airtasker to reach diverse audiences at scale.
Pipeline Airtasker is currently exploring additional media partnerships and is in discussions with a potential new media partner and has
today completed an expansion of its strategic partnership with existing media partner, iHeartMedia.
Under the new investment by existing media partner iHeartMedia, Group subsidiary Airtasker USA will exchange a US$5m
issuer-convertible note with a 5% coupon and a maturity date of 30 November 2028 for media capital. At maturity, at Airtasker
USA’s option, the note could be repaid in cash or converted into equity in Airtasker USA at a discount to an agreed valuation.
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10

1. Calculated at the inception of the individual media partnerships in calendar years 2023 and 2024. This amount excludes the issuer-convertible note provided to Channel 4 Ventures on 8-Oct-25 for $5.1m (£2.5m).

Raising $10m equity capital to accelerate growth in the UK and US

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Raising equity capital of $10m to fund a disciplined program of targeted marketing investments and to provide additional balance sheet flexibility:

• Scale new market launch playbook (codenamed “SHPAB”) in the UK and US.

• (posted tasks) being seen outside of initial target cities:

• 49% of US posted tasks outside LA, Austin and Las Vegas[1] ; and

• 28% of UK posted tasks outside London, Birmingham and Manchester[1] .

• Opportunity to invest alongside media capital investment from existing US media partners iHeartMedia, TelevisaUnivision, Sinclair Broadcast Group and Mercurius Media Capital and UK media partner Channel 4 Ventures with $23m[2] of global media capital remaining on balance sheet (sourced via equity and issuer-convertible notes).

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Sources of funds $m
Placement 10.0
Uses of funds $m
Targeted marketing investments in the UK and US 5.0
Additional balance sheet flexibility to sele media 4.0
partnership agreements
Working capital and costs of the Oer 1.0
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• partners and/or sele media partnership agreements.

Investment will commence in northern hemisphere 2Q26 (Dec-25) low season with acceleration in growth expected in 3Q26 (Mar-26) and 4Q26 (Jun-26) high seasons.

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1. Based on total posted tasks in Sep-25.

2. Not for release to United States wire services or distribution in the United States.

11

1. As at 30-Sep-25. This amount excludes the issuer-convertible note provided to Channel 4 Ventures on 8-Oct-25 for $5.1m (£2.5m).

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Equity Raising Overview
Terms Details
• Airtasker is raising gross proceeds of $10.0m via an institutional placement (the Placement or the Oer ).
Oer Structure • The Placement comprises 33,333,333 million fully paid ordinary shares ( New Shares ) at an issue price o $0.30 per New Share ( Oer Price ). The Placement is
being made under the Company’s existing placement capacity under ASX Listing Rule 7.1, except for the issue to Exto Active (see below) which will be subject to
shareholder approval.
Oer Price $0.30 per New Share
The Oer proceeds, together with existing cash on balance sheet will fund:
• a disciplined program of targeted marketing investments in the UK and US markets;
Use of Proceeds
•
additional balance sheet flexibility to sele media partnership agreements; and
• general working capital and the costs of the Oer.
iHeartMedia - America’s no.1 audio media company with 276 million monthly listeners - has subscribed for A$2.3m [1] in ASX:ART under the Placement as a
Strategic Investor Participation cornerstone investor.
The Company’s largest shareholder Exto Active, which is related to Director Peter Hammond, has agreed to subscribe for $0.5m in the Placement. Peter Hammond
Major Shareholder Subscription is a co-founder and director of Exto Active. Accordingly, any shares issued to Exto Active under the Placement will be conditional upon shareholder approval. The
Company will convene an EGM for this purpose in early 2026.
Ranking New Shares to rank equally with existing ordinary shares on issue in Airtasker from Allotment.
Announcement of Placement Results and Recommence Trading on ASX Prior to 10:00 am AEDT Tuesday, 18 November 2025
Selement of Placement Proceeds (other than Exto Active) Friday, 21 November 2025
Key Dates
Allotment of New Shares (excluding New Shares to be issued to Exto Active) Monday, 24 November 2025
Extraordinary General Meeting ( EGM ) to Approve Exto Active Participation Early 2026
Selement of Exto Active Placement Proceeds Early 2026 (within 5 business days of EGM)
Lead Manager to the Australian
Placement Taylor Collison Limited
12
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Equity Raising Overview

1. Subscription is for US$1.5m based on USD1.00:AUD1.54 exchange rate.

*Not for release to United States wire services or distribution in the United States.

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FY26 OUTLOOK

• Airtasker Australia[1] to deliver solid double digit revenue growth.

• Australian marketplaces generated ~$15.2m[2] in free cash flow in FY25 - cash flow generation (ex Oneflare) to increase in FY26.

• Airtasker UK and US markets accelerate growth trajectory supported by a disciplined program of targeted marketing investments.

• Over $25m[3] in cash and term deposits (on balance sheet immediately following this proposed equity capital raise) combined with $23m[4] of prepaid media assets available to support growth.

• 1. Amounts are unaudited.

• Includes $15.2m in cash and term deposits on balance sheet at 30-Sep-25 plus $10m in this equity capital raise, assuming shareholder approval is obtained for Exto Active’s participation.

• As at 30-Sep-25. This amount excludes the issuer-convertible note provided to Channel 4 Ventures on 8-Oct-25 for $5.1m (£2.5m).

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13

Meet the Taskies: Britney Shears

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ABOUT AIRTASKER

services or distribution in the United States.* Not for release to United States wire 1414

OUR VISION

The world’s most trusted marketplace to buy and sell local services.

We connect people who need work done, with people who want to work.

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* Not for release to United States wire 15
services or distribution in the United States.
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OUR MISSION

To empower people to realise the full value of their skills.

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Corey L.

“Airtasker changed our lives. Even with full-time jobs, we couldn’t get ahead. By taking on extra cleaning tasks, we saved $60,000 in 12 months and bought our first home in Pakenham. It was hard work, but worth it — and now we’ve started our own cleaning business to pay o the mortgage even faster.”

Creating jobs isn’t a by-product of the work that we do: it’s our core purpose.

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Talal E.

“I’ve been on Airtasker for years, and it’s been a game-changer for my mobile mechanic business. When I first started, it helped me connect with customers I never would’ve reached on my own, and quite quickly too. Over time, those jobs turned into regular clients, and the positive reviews built my reputation. Now, a big part of my work comes from Airtasker, and it’s great because I can choose what tasks I want to take on, and at what price too. The flexibility has been amazing especially in a trade where there can be a lot of emergencies too.

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16

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Unique value proposition

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Open Community Built on transparency and accountability to enable trust with an eicient light touch operating model.

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Unifying a fragmented local services industry and creating entirely new service categories.

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For Customers:

• Super fast responses

• Huge range

• Great value

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For Taskers:

• Instant work

• Pricing control

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17

COMPETITIVE LANDSCAPE

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Airtasker is uniquely
positioned as a
global platform for
local services
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1 Airtasker community model

Free to join. Customers choose who they work with based on ratings, reviews and verified qualifications.

2 Taskrabbit curated supply model

Workers pay an upfront fee to join and Taskrabbit selects which workers can access jobs[1] .

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Ecommerce model
1
2
Remote Local services
outsourcing
US/UK markets only. Not operating in AU.
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Advertising model

Source: The Local Services Market - Market Report, Frost & Sullivan, July 2024

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1. Based on management research.

2. Not for release to United States wire services or distribution in the United States.

18

Revenue model tightly aligns Airtasker with Tasker success

How does Airtasker make money?

• Free to post a task and receive oers.

• Free to access tasks and create quotes.[4]

• Fees are charged when Customers and Taskers experience marketplace value (at the point of connection, task completion or in certain cases task cancellation).

Win-win business model

• Low risk for Taskers. Unlike advertising models, Taskers can access jobs with no upfront fees.

• Wide range. No upfront fees means Customers access the greatest range of services.

• Strong gross margin. Light touch model delivers 95%+ gross margins.

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GMV [1,3] Revenue [2,3]
Sales tax Insurance
2.3% 0.7%
Revenue
21.6%
Merchant fees
3.5%
Paid to Users Gross profit
76.1% 95.8%
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1. Gross marketplace volume (GMV) for Airtasker only. GMV represents the total price of all tasks booked through the Airtasker marketplaces before cancellations and inclusive of price adjustments between customers and Taskers, bonuses paid by customers to Taskers, fees payable by customers and Taskers to Airtasker, and any applicable sales taxes.

2. Revenue comprising the Airtasker and Oneflare marketplaces. 3.

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1. On the Airtasker marketplaces.

2. Not for release to United States wire services or distribution in the United States.

19

Meet the Taskies: Ray

GROWTH STRATEGY

services or distribution in the United States.* Not for release to United States wire 2020

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Growth strategy

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1 2 3
Core platform investment Profitable growth Scale in UK and US
Invest in Airtasker brand and core platform Deliver profitable growth in Australia to Leverage platform and invest in new markets
experience and maintain market leadership generate free cash flow turbocharged by media partnerships
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21

CORE PLATFORM INVESTMENT

Media partnership strategy delivers growth re-acceleration

In FY25, we successfully executed on our brand investment strategy alongside media partners oOh!media and ARN leading to a strong increase in brand salience (unprompted brand awareness) and a re-acceleration of both GMV and revenue in the Australian market.

We’ll continue to maintain brand investment momentum in FY26 as we realise the potential of the enormous $75 billion TAM[1] in Australia.

$190m+ Record Australian GMV

+5.3% Airtasker Australia GMV growth (FY24: -4.6%)

+15% Unprompted brand awareness in FY25

+13.4% Airtasker Australia revenue growth (FY24: +8.6%)

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1. The Local Services Market - Market Report, Frost & Sullivan, July 2024.

CORE PLATFORM INVESTMENT

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Continue to invest in trust and improve sales funnel efficiency

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ID verification (implementing for Australian Taskers)

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SERR[1] tax compliance (implementing for Australian Taskers) Top Oer status rolled out for selected oers

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21.6% Monetisation rate (up 1.6 ppts in FY25)

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1. Australian Sharing Economy Reporting Regime.

CORE PLATFORM INVESTMENT

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Address platform leakage and improve purchase frequency

frequency by enabling customers to rebook Taskers they’ve previously hired by addressing:

• Fee structure - low cost model

• Incentives - to reward rebooking behaviour

• Feature awareness and usability

93% of Customers rate their Airtasker experience 5 stars

of Customers said “yes” or “maybe” that they will 73%[1] repeat the same or similar task again within the next 12 months

83%[1] of Customers said they would hire the same Tasker again

New rebooking fee structure launched Aug-25:

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Customers pay a flat $5 rebooking fee and Taskers pay 1.9% service fee.

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1. Airtasker survey (N:3390), February 2025.

2. Not for release to United States wire services or distribution in the United States.

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GROWTH STRATEGY
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Going turbo: Scale in UK and US

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SCALE IN UK AND US

We have a proven model to build profitable, cash generative marketplaces

In FY25, our Australian marketplaces generated ~$34.6m of cash flow:

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Revenue [1] $49.2m
Expenses [2] $14.6m
Cash flow [3] $34.6m
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1. 1. Calculated as the dierence between revenue and EBITDA for the Established Marketplaces Segment as disclosed in note 4 of the FY25 financial statements, adjusted for material non-cash items.

2. statements, adjusted for material non-cash items.

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112
FY25
25 $190m+
91
20
68
15
36
10 9.7
8.4
6.8
12
5
2.2
1.2
0
FY16 FY17 FY18 FY19 FY20
Marketing Investment GMV
AUD million
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SCALE IN UK AND US

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Opportunity to leverage our scalable software platform, turbocharged by local media partnerships

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Australian marketplaces generate cash
flow in excess of software platform and $19.4m [2]
head oice infrastructure investment (ASX:ART) investment
Opportunity to leverage software platform to replicate profitable marketplace economics
$34.6m [1] Software platform and
cash generation head oice infrastructure
Airtasker AU Airtasker UK Airtasker USA New markets
$11.0m £7.5m [3] US$21.8m
media investment media investment media investment
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1. 1. In FY25 invested $19.4m in operating the software platform and head oice infrastructure that enables the global marketplaces. 3. This amount excludes the issuer-convertible note provided to Channel 4 Ventures on 8-Oct-25 for $5.1m (£2.5m).

2. Not for release to United States wire services or distribution in the United States.

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SCALE IN UK AND US

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New city-level marketplace goal: $25m GMV ARR and cash positive in 3 years

Our city-level marketplace[1] goal is to reach a GMV ARR[2] of $25m in 3 years from launch. In the UK, we launched with media in October 2023 and in the US we launched with media in September 2024.

At $25m GMV ARR, a city-level marketplace generates an approximate $5m revenue ARR (at 20% monetisation rate[3] ) with strong gross profit.

Given that city-level operating expenditure is predominantly marketing investment, at the 3-year mark Airtasker has the option to:

1. Grow with no further investment required: into marketing activities to maintain growth trajectory.

2. Further accelerate: Further accelerate growth trajectory by investing new capital into marketing activities.

3. Generate dividends: Optimise the city-level marketplace for cash generation and pay a dividend.

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1. Based on a city with a population of approximately 10 million such as London or Los Angeles.

2. Annualised run rate.

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SCALE IN UK AND US

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Growth momentum building: UK hits $21m and US hits $7.5m GMV ARR in June 2025

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Airtasker UK reached GMV ARR of $21m in Jun-25 at 21 months from launch date (Oct-23)

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Airtasker US reached GMV ARR of $7.5m in Jun-25 at 10 months from launch date (Sep-24)

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In FY26, Q1 and Q2 to maintain GMV levels during seasonal low period with further acceleration in Q3 and Q4.

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Key Risks

This section sets out some of the key risks associated with an investment in Airtasker, which may aect the value of Airtasker shares. The risks described below are not necessarily listed in order of importance and do not constitute an exhaustive list of all risks involved with an investment in Airtasker. Before participating in the Oer, you need to be aware that an investment in Airtasker should be considered speculative as it involves a number of risks, some of which are specific to Airtasker, some of which relate to listed securities generally and some of which are beyond the control of Airtasker.

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Brand marketing

The Group has adopted a global strategy of pursuing above the line brand marketing to build awareness of the Airtasker brand through its media partnerships and brand sponsorship arrangements in each market in which it operates. The Group is exposed to the risk that this global strategy may not achieve the levels of brand awareness expected in each market or achieving the desired level of brand awareness takes longer than planned.

Media partnerships

Market conditions and share price volatility

operating performance. Broader share market conditions are influenced by numerous factors, including the general economic outlook, inflation rates, interest rates, unemployment rates, exchange rates, and changes in investor sentiment towards technology or growth sectors. There is no assurance that the market price of Airtasker shares will increase or remain at the Oer price. In addition, trading volumes may be limited at times, which may impact share price volatility, making it diicult for investors to buy or sell shares without aecting the market price.

Changes in macroeconomic conditions

The demand for particular services through the Group’s marketplaces is dependent on the overall level of consumer demand in the relevant economy for those services. Changes in macroeconomic conditions, including inflation rates, interest rates, unemployment rates, exchange rates and volatility in global capital markets may impact consumer confidence. Consequently, the level of consumer demand and the volume of labour supply through the Group’s marketplaces may be impacted.

International expansion

Expansion into international markets is a key part of the Group’s growth strategy, and success in these regions is critical to achieving its long-term objectives. There is a risk that the Group is less familiar with the macroeconomic conditions, the political, legal and regulatory environment, competitive landscape and cultural norms in these markets. If the Group is unable to eectively navigate these challenges or fails to gain suicient traction in these markets, it may not realise its growth ambitions. This could significantly impact the Group’s ability to meet its revenue and growth targets and adversely impact its financial performance and shareholder value.

The Group completed a number of media partnerships between calendar years 2023 and 2025 that provide media advertising services for use in the markets in which it operates over the calendar years 2023 to 2027. The Group is exposed to the risk that the marketing channels provided by its media partners are less eective than expected or will take longer to become productive.

Competition

There are a number of online marketplaces with which the Group competes from time to time, particularly in new markets. There is a risk that competitors may increase their position through increased marketing, technological advances and innovations, more competitive pricing, obtaining more funding or more specialised expertise and resources. Increased competition may reduce consumer demand and the volume of labour supply through the Group’s marketplaces.

is achieved, there is no certainty it can be maintained or increased over time. The Group’s growth strategy, including international expansion, is expected to require additional capital. If the Group is unable to secure further funding when required, this could lead to delays in executing its strategic plans or slower overall growth. There is no assurance that such funding will be available on acceptable terms, or without significant dilution to existing shareholders. Broader market conditions, such as inflation rates, interest rates, unemployment rates and exchange rats as well as reduced investor appetite for loss-making technology businesses, may further constrain access to capital.

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30

Key Risks (continued)

Compliance with and changes to laws and regulations

The Group operates in a sector where laws and regulations relating to its operations are evolving. There is a risk that new laws or regulations may be enacted or existing laws or regulations amended in such a way that impose regulations on the Group and/or users of its marketplaces. The Group operates ‘infinitely horizontal marketplaces’, which means that users may use the Group’s marketplaces to demand and supply almost any lawful service. There is a risk that the provision of a particular service may require the Group itself to comply with laws or regulation or require a specific licence in respect of that particular service. As the Group expands internationally, compliance risk expands with it, and there is a risk that the Group will not comply with all applicable laws and regulations.

Payroll tax regulations

The recent decision by the NSW Court of Appeal in the case of Chief Commissioner of State Revenue v Uber Australia Pty Ltd has significant implications for gig economy platforms in New South Wales. The court’s ruling determined that payments made by Uber to its drivers were subject to payroll tax, as the drivers were found to be providing a service to Uber under a "relevant contract."

Whilst the judgment is likely to be subject to further appellate action, there is a possibility if upheld, that the rationale outlined by the Court of Appeal could be applied to the Airtasker Australia platform where the performance of services is a core basis for the financial and operating model of the business. This could significantly impact the Airtasker Australia business and the Group’s overall financial performance. Airtasker continues to actively monitor the progress of this maer.

revenue in FY25 to $7.6m. The Group is exploring several strategic options for the Oneflare marketplace which may include a strategic repositioning, material expenditure reductions or sale of the business. The Group is exposed to the risk that any such strategic option could result in operational disruption, a reduced revenue contribution or one-o expenditures. This could significantly impact the Group’s ability to meet its revenue and growth targets and adversely impact its financial performance.

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Use of the Group’s marketplaces

The Group is not reliant on any one customer or tasker or a concentration of a few customers or taskers. The success of the Group’s business and its ability to grow relies on its ability to aract new customers and taskers and retain existing ones. There is a risk that customers and taskers may, after connecting through the Group’s marketplaces, engage o-platform and deal directly with one another to avoid paying fees.

Liability and reputational damage

There is a risk that taskers may not perform services to the standards expected by customers or engage in criminal or other dangerous activities that may negatively impact the Group’s brands and reputation. Customers may seek legal action against the Group or seek to hold the Group liable for the actions of taskers. The Group’s reputation and brands may be adversely impacted by substandard performance by taskers, negative customer experiences on the Group’s marketplaces, customer complaints or other adverse events which involve the Group’s marketplaces.

Climate change

environmental and weather conditions in key markets. The Group continues to review and assess its environmental and social sustainability footprint and its exposure to environmental and social risks in order to meet its reporting and compliance obligations.

Suppliers

The Group is reliant on a number of third-party suppliers, including information technology for cloud storage services, security services, payment processing and other services used to operate, maintain and support the Group’s marketplace platforms. Any loss of suppliers, changes to supply terms or limitations may have a material adverse impact on the Group’s operations, reputation, financial performance and growth prospects.

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31

Key Risks (continued)

Share purchase liabilities

The Group has entered into media partnerships involving the issue of equity and issuer-convertible notes. At the Group’s option, the issuer-convertible notes can be seled in cash or converted into equity in the Company or Group subsidiaries. The Group has an obligation to repurchase any equity issued to its media partners in Group subsidiaries. For accounting purposes this creates a share purchase liability for the Group. The are risks that the value of this share purchase liability may change based on factors such as the forecast revenues of the relevant Group subsidiary, the Group’s revenue based market capitalisation multiple, exchange rates and the Group’s cost of capital. Any changes may aect the Group’s accounting profit or loss, creating a risk of volatility in its financial results.

Tax risks

Tax laws are complex and subject to change periodically. There is a risk that changes to Australian and international tax laws and practice may impact the Group’s operations and may have an adverse impact on shareholder value.

Fraud

As the Group continues to grow incidences of fraud in the Group’s marketplaces may increase. The Group has teams dedicated to marketplace security management, but cannot guarantee increasingly sophisticated occurrences of fraud will be prevented.

Key personnel

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Data breaches and other data security incidents

The Group and its suppliers collect a wide range of personal and service usage data and other confidential and sensitive information from users of its marketplaces in the ordinary course of business, and store that data electronically. As an online business, the Group is exposed to cybersecurity risk that may arise through a cyber aack or data breach relating to its marketplace platforms. The Group and its third party suppliers have systems in place to maintain the confidentiality and security of that data and prevent unauthorised access to, or disclosure of that data, however, there can be no guarantee that the systems will completely protect against cyber aacks, data breaches or other data security incidents. A cyber aack or data breach may result in regulatory action and cause significant reputational damage, which in turn could materially and adversely aect user trust, marketplace activity and ultimately adversely impact the Group’s financial performance and position.

Performance of technology

The Group operates online marketplaces and is heavily reliant on information technology to ensure the marketplace platforms are available to users. The Group’s marketplace platforms use software developed by Airtasker and software licensed from third parties, and also depend on the performance and reliability of internet, mobile and other infrastructure which is outside of the Group’s control. The success of the Group also depends on its ability to identify and deploy the most appropriate new technologies and features on its marketplace platforms (e.g. artificial intelligence). There is a risk that the Group may fail to update, develop or adopt new technologies which may render the Group’s marketplaces less competitive.

The Group is dependent on its employees as well as its ability to aract and retain talent. Loss of key employees or under-resourcing and an inability to aract suitable employees within a reasonable time period may cause disruptions to the Group’s marketplaces and growth initiatives and adversely impact the Group’s operations and financial performance.

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v

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