AZTECH GLOBAL LTD. — Interim / Quarterly Report 2025

Oct 15, 2025

BUSINESS UPDATE

NINE MONTHS & THIRD QUARTER ENDED 30 SEPTEMBER 2025

15 October 2025

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Note on Forward-Looking Statements

This presentation may contain certain forward-looking statements including, but not limited to, statements as to future operating results and plans.

These statements are based on our assumptions and estimates and are subject to known and unknown risks and uncertainties and other factors which may cause the actual results, performance or achievements of the Group to differ materially from any future results, performance or achievements expressed or implied by those projected in the forward-looking statements.

Consequently, readers are cautioned not to place undue reliance on any forward-looking statements.

All $ dollar amounts are in Singapore dollars unless otherwise specified.

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Performance Review

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Performance Review

Third Quarter 2025 Financial Performance Summary

$ Million	3Q 2025	2Q 2025	QoQ % Change	3Q 2024	YoY % Change	▪	Lower revenue and net profit for the third quarter of 2025 compared to
Revenue	133.5	143.4	(6.9)	166.7	(19.9)		the third quarter of 2024 mainly due
EBITDA	15.6	19.3	(19.2)	18.3	(14.8)		to lower demand from customers.
Profit Before Tax	13.5	17.1	(21.1)	15.7	(14.0)	▪	Higher effective tax rate for third
PBT Margin (%)	10.1	11.9	(180 bps)	9.4	70 bps		quarter of 2025 was mainly due to higher effective tax rate in Malaysia
Income Tax Expense	(2.6)	(2.5)	4.0	(2.0)	30.0		and Singapore.
Effective Tax Rate (%)	19.3	14.6	470 bps	12.7	660 bps
Net Profit	10.8	14.6	(26.0)	13.7	(21.2)
Net Profit Margin (%)	8.1	10.2	(210 bps)	8.2	(10 bps)
Basic & Diluted EPS (cents)	1.41	1.88	(25.0)	1.78	(20.8)

1. Effective tax rate excludes provision for deferred tax.

2. Weighted average number of 771,793,545 shares and 771,793,545 shares were used for the computation of basic and diluted EPS for 3Q 2025 and 2Q 2025, and 771,858,367 shares and 772,313,358 shares for the computation of 3Q 2024 basic and diluted EPS.

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Performance Review

Nine Months 2025 Financial Performance Summary

$ Million	9M 2025	9M 2024	% Change
Revenue	318.9	539.9	(40.9)
EBITDA	39.0	78.1	(50.1)
Profit Before Tax	32.4	70.3	(53.9)
PBT Margin (%)	10.2	13.0	(280 bps)
Income Tax Expense	(5.5)	(9.9)	(44.4)
Effective Tax Rate (%)	17.0	14.1	290 bps
Net Profit	26.9	60.4	(55.5)
Net Profit Margin (%)	8.4	11.2	(280 bps)
Basic & Diluted EPS (cents)	3.49	7.82	(55.4)

▪ For the nine-month period ended 30 September 2025, the Group reported a lower revenue of $318.9 million and net profit of $26.9 million compared to the same period in 2024 primarily due to subdued demand from customers.

1. Effective tax rate excludes provision for deferred tax.

2. Weighted average number of 771,793,545 (9M 2024: 771,952,945) shares and 771,793,545 (9M 2024: 772,286,891) shares were used for the computation of basic and diluted EPS for 9M 2025.

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Performance Review

Nine Months 2025 Geographical Revenue

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Others Others
5.2% 5.2%
Singapore Singapore
1.0% 0.3%
Europe Europe
21.2% 14.0%
9M 2025 9M 2024
North
America
North
72.6% America
80.5%
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Performance Review

Free Cash Flow

($ Million)	9M 2025
Cash Flow From Operating Activities	16.1
Less Capital Expenditure	(1.6)
Free Cash Flow	14.5

▪ For the nine months ended 30 September 2025, the Group generated:

• -net cash of $16.1 million from its operating activities; and

• -free cash flow of $14.5 million.

1. Capital expenditure excludes non-cash acquisition of property, plant and equipment.

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Performance Review

Balance Sheet Summary

($ Million)	30 September 2025	30 June 2025	31 December 2024
Cash & Bank Balances	109.2	176.3	292.1
Short-term Investments	133.9	51.7	19.2
Lease Liabilities	(2.1)	(1.6)	(2.8)
Total Bank Borrowings	(11.5)	(11.9)	(14.3)
Net Cash	229.5	214.5	294.2
Current Assets	426.7	428.9	430.4
Current Liabilities	(168.0)	(175.2)	(117.2)
Working Capital	258.7	253.7	313.2
Total Net Assets Accumulated Profits	278.1 83.8	273.3 80.7	339.1 141.8
Share Capital & Reserves	194.3	192.6	197.3
Total Equity	278.1	273.3	339.1
Net Asset Value per Share (cents)	36.0	35.0	44.0

Net cash position remained healthy at $229.5 million as of 30 September 2025.

▪

Short-term investments comprised mainly fixed deposits with tenure of 4-6 months.

▪

Lower NAV/share of 36 cents as of 30 September 2025 compared to 31 December 2024 due to the payment of:

▪

-final and special dividends amounting to $77.2 million (for financial year ended 31 December 2024) in April 2025; and

• -interim dividend of $7.7 million for the first half of 2025.

1. NAV per share as of 30 September 2025 and 31 December 2024 were computed based on the net assets of the Group and 771,793,545 ordinary shares (excluding Treasury Shares) respectively.

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Key Developments

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Key Developments

Customer Diversification & Growth

• Year to date (“YTD”) progress:

-secured 22 new projects orders (e.g. foetal heart monitor, 3D medical navigation device, AI occupancy sensor, AI-controlled cat flap, smart air purifier and emergency device, etc.); and

-added 11 new customers .

• New wins have been secured across the consumer, MedTech, industrial and automotive segments.

• Commenced the commercial production of 5 of these new orders YTD, with 5 others slated to start during the fourth quarter. The remaining new orders are scheduled to commence commercial production in 2026 .

▪ Building customer base to diversify and grow long-term recurring revenue.

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Key Developments

Right-sizing Manufacturing Space

• Entered into a sale and leaseback agreement to right-size manufacturing facility in Dongguan, China to optimise costs and efficiency:

• -sell factory building and land approx. 42,000 sqm for RMB41 million (~SGD7.3 million);

• -lease back approx. 18,010 sqm of built-up area for 10 years for a total rental of RMB20 million (~SGD3.6 million); and

• Sale of the Gelang Patah facility in Johor, Malaysia for RM28.7 million (approx. SGD8.7 million).

• Completion for both transactions is expected in the fourth quarter of 2025.

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1. Subject to the approval of local authoritiess.

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Key Developments

Sustainability Initiatives

• Advancing Net-zero strategy driving long-term value as net-zero business partner of choice.

• Climate Action 2050 Roadmap to achieve below targets:

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• (1) net-zero Scope 1 & 2 emissions by 2040; and

: 2025 Highlights

(2) net-zero Scope 3 emissions by 2050.

▪ Launched mid-term Sustainability & Lean Operations 2030

• -procured 804,000 kWh/year of green electricity certificate in China; and

-onsite roof-top solar photovoltaic installation at its Malaysia facility through a power purchase agreement with expected supply in mid-2026.

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Key Developments

Achieved External Recognition

• Sep 2025 - included in iEdge Singapore Next 50 Index and iEdge Singapore Next 50 Liquidity Weighted Index

• Aug 2025 - named one of Singapore’s 2025 Best Managed Companies by Deloitte Private to record its second consecutive year of recognition .

• Jun 2025 – achieved second successive ranking in Fortune Southeast Asia 500, 2025

• May 2025 – won “ The Enterprise Award ” at the Singapore Business Awards 2025

• Jan 2025 – scored third consecutive win as one of Singapore’s Fastest Growing Companies in 2025 by The Straits Times.

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Outlook

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Outlook

FY2025 Outlook

▪ The Group is cautiously optimistic about the business environment for the rest of 2025 amid uncertainty in the macroeconomic, trade and geopolitical fronts.

▪ Barring unforeseen circumstances, the Group expects its . full year performance to remain profitable

1. Subject to FY2025 financial performance and shareholders’ approval.

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Outlook
Key Focus
To position its business for emerging opportunities and create long-term value,
the Group is focusing on strengthening its strategic priorities as outlined below:
Strengthening Diversifying Supplier Dual-site Manufacturing Capabilities Disciplined Resource Sustainability
Customer Base Network Footprint Building Management
Expanding customer Establishing a more Leveraging dual-site Enhancing Maintaining a Advancing net-zero
base across diverse resilient, localised manufacturing manufacturing, disciplined approach goals to be the
markets to drive and diversified footprint to support design and R&D to asset, capital, business partner of
product and supplier network to customers’ capabilities to cost, and foreign choice, driving long-
customer pipelines. mitigate risks from requirements for produce better exchange risk term business value.
tariffs and various markets. products, improve management.
geopolitical production yield and
developments. efficiency.
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Thank You

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