HYDRIX LIMITED — Interim / Quarterly Report 2026

Feb 26, 2026

Hydrix Limited Appendix 4D Half-year report

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1 Company Information

Name of entity: HYDRIX LIMITED ABN: 84 060 369 048 Reporting period: For the half-year ended 31 December 2025 Previous period: For the half-year ended 31 December 2024

2 Results for announcement to the market

Revenues from ordinary activities Loss from ordinary activities after tax attributable to the owners of Hydrix Limited Net loss for the half-year attributable to the owners of Hydrix Limited	31-Dec-25 31-Dec-24 % Change 4,837,519 5,597,012 -14% -268% (2,340,411) (635,660) (2,350,797) (668,052) -252%

Dividends

The consolidated entity does not propose to pay a dividend.

No dividend or distribution plans are in operation.

Comments

Reduced revenues reflects timing of new client project commencement readiness and the completion of current development programs. Cash used in operating activities was $22,383 per the statement of cash flows (page 13 of accounts) compared to net cash inflows from operating activities of $558,517 in the comparative prior period. The loss for the consolidated entity after providing for income tax was $2,340,411 (31 December 2024: $635,660).

3 Net tangible assets / (liabilities)

									Reporting	Previous
									period	period
									Cents	Cents
Net	tangible	assets	per	ordinary	security	(including	right-of-use	assets)	(3.37)	1.14

4 Control gained over entities

Not applicable.

5 Loss of control over entities

Not applicable.

Hydrix Limited Appendix 4D Half-year report

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6 Details of associates and joint venture entities

Not applicable.

7 Audit qualification or review

Details of audit/review dispute or qualification (if any):

The financial statements have been subject to a review by the auditors and the review report is included in the Interim Financial Report.

8 Attachments

Details of attachments (if any):

The Interim Report of Hydrix Limited for the half-year ended 31 December 2025 is attached.

9 Signed

Date: 27 February 2026

Mr Gavin Coote

Executive Chairman

Melbourne

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HYDRIX LIMITED INTERIM REPORT FOR THE HALF-YEAR ENDED 31 DECEMBER 2025 ABN: 84 060 369 048

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Hydrix Limited ABN : 84 060 369 048

Contents 31 December 2025

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Contents	Page
Corporate Directory	5
Directors' Report	6
Auditors' Independence Declaration	9
Consolidated Statement of Profit & Loss and Other Comprehensive Income	10
Consolidated Statement of Financial Position	11
Consolidated Statement of Changes in Equity	12
Consolidated Statement of Cash Flows	13
Notes accompanying the Financial Statements	14
Directors' Declaration	20
Independent Auditor's Review Report	21

General information

The financial statements cover Hydrix Limited as a consolidated entity consisting of Hydrix Limited and the entities it controlled at the end of, or during, the half-year. The financial statements are presented in Australian dollars, which is Hydrix Limited's functional and presentation currency.

Hydrix Limited is a listed public company limited by shares, incorporated and domiciled in Australia. Its registered office and principal place of business are:

Registered office	Principal place of business
30-32 Compark Circuit	30-32 Compark Circuit
Mulgrave VIC 3170	Mulgrave VIC 3170

A description of the nature of the consolidated entity's operations and its principal activities are included in the directors' report, which is not part of the financial statements.

The financial statements were authorised for issue, in accordance with a resolution of directors, on 27 February 2026. The directors have the power to amend and reissue the financial statements.

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Hydrix Limited Corporate Directory 31 December 2025

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Directors Company Secretary Registered Office Principal place of business Share register Auditor Solicitors Stock Exchange Listing Website Country of incorporation and domicile

Mr Gavin Coote (Executive Chairman) Ms Julie King (Non-Executive Director) Mr Paul Wright (Non-Executive Director) Mr Paul Lewis (Non-Executive Director) Ms Alyn Tai 30-32 Compark Circuit Mulgrave VIC 3170 Phone: (03) 9550 8100 30-32 Compark Circuit Mulgrave VIC 3170 Boardroom Pty Limited Level 8, 210 George Street Sydney NSW 2000 Grant Thornton Audit Pty Ltd Collins Square, Tower 5 727 Collins Street Melbourne VIC 3008 Thomson Geer Level 23, Rialto South Tower 525 Collins Street Melbourne VIC 3000 Hydrix Limited's shares are listed on the Australian Securities Exchange (ASX code: HYD) www.hydrix.com Australia

5

Hydrix Limited Directors' Report For the half-year 31 December 2025

The directors present their report, together with the financial statements, on the consolidated entity (referred to hereafter as the 'consolidated entity' or 'Group') consisting of Hydrix Limited (referred to hereafter as the 'company' or 'parent entity') and the entities it controlled at the end of, or during, the half-year ended 31 December 2025.

Directors

The following persons were directors of Hydrix Limited during the whole of the financial half-year and up to the date of this report, unless otherwise stated:

Mr Gavin Coote

Executive Chairman

Ms Julie King

Non-Executive Director

Mr Paul Wright

Non-Executive Director

Mr Paul Lewis

Non-Executive Director

Principal activities

The principal activities of the consolidated entity during the half-year were providing product design, engineering, and regulatory services to customers in the medical industry, market development of disruptive cardiovascular product technologies and venture investment in high potential early-stage medtech clients.

The consolidated en�ty operates three businesses:

Hydrix Services delivers world first products and innovation across the medtech and cardiac market sectors. It offers a comprehensive range of engineering, development and regulatory consulting services including software, electronics, mechanical, industrial design, and general product development services. Its product development and consulting services range from applied research through all stages of engineering design, development, prototyping, manufacturer management, certification process management and supply for global markets.

Hydrix Medical distributes disruptive cardiovascular technologies that address unmet needs for patients and healthcare providers. Products include the Guardian real-time heart attack warning system from Avertix Medical and Implicity’s cloudbased AI-driven remote cardiac patient monitoring and data management solution. These products are pre commercial revenue and being distributed by Hydrix under distribution license agreements across Australia and various Asia Pacific jurisdic�ons.

Hydrix Ventures selectively invests in high potential Hydrix Services medtech clients to generate equity capital gains. Current portfolio companies include Gyder Surgical Pty Ltd (orthopaedic surgical tool used in hip replacement surgeries) and WaveWise Analytics Pty Ltd (formerly known as Cyban Pty Ltd) (non-invasive brain trauma injury monitoring device). For each of these clients, Hydrix Services provides arm's-length product design and development consulting services.

The consolidated entity has approximately 54 employees and its headquarters are located in Mulgrave, Victoria Australia.

6

Hydrix Limited Directors' Report For the half-year 31 December 2025

Review of operations

The consolidated entity’s revenue from contracts with customers of $4,837,519 was primarily derived from Hydrix Services.

Hydrix Services revenues for the half year were $4,835,981 down from $5,595,872 in the prior comparative period. Operating costs for the half were similar to prior comparative period. Overhead costs remain tightly managed while retaining sufficient engineering resources to support new project growth. New sales and contract commencement slippage resulted in lower revenues in the period and was primarily attributable to client funding delays. Pleasingly, some of these new projects have since sold in the quarter to date supporting the growth outlook.

Consistent with Hydrix Services international sales strategy, approximately 74% of revenue in the half was from overseas clients (December half 2024: 61%). The business has a large and growing sales opportunity pipeline, including approximately $40 million in future program stage revenues from 15 active clients. Sales conversions remain subject to client budget and funding constraints and these factors create fluidity in the timing of sales and project revenues.

Hydrix Medical continues to prosecute its sales opportunity pipeline of more than $1.5m of annual recurring revenue from sales of its remote cardiac patient monitoring product, it has licensed for distribution from Implicity. Sales of cloud-based software products to public hospitals and medical clinics can be subject to lengthy sales cycles which include heavy cybersecurity technical reviews and budget approval processes.

Hydrix Ventures' Hydrix Ventures has selectively invested in several medical device technology clients where Hydrix Services provides product design and development services. Ventures currently hold investments in early stage medical device companies. The majority of the portfolio value is the investment in Gyder Surgical which has commenced commercialising its first-generation product in the USA. WaveWise Analytics had it's valuation marked to market, resulting in a $337,397 decrease in fair value. The fair value of the Ventures portfolio at 31 December 2025 is $2.7 million.

Review of financials

Total consolidated entity made sales to external customers of $4,837,519 for the first half ending 31 December 2025 (December 2024: $5,597,012).

The operating loss before income tax for the consolidated entity was $2,340,412 (December 2024: $635,660). As noted above, the increased loss was due to lower revenues resulting from new client sales delays in the period, but some of which

Total operating costs for the period increased by $443,415 or 7% to $6,805,953 (December 2024: $6,362,538). Contributing factors include increased overseas sales-related travel expense, and increased interest expense and consulting costs in Hydrix Limited.

Cash used in operating activities during the period by the consolidated entity of $22,383 (December 2024: cash inflow $558,517). The main uses of cash supported the principal activities of the business, including international sales pursuits and ensuring sufficient engineering consulting capacity to support near-term growth uplift.

The consolidated entity’s cash position was $584,183 at 31 December 2025 compared to $297,881 at 30 June 2025.

Outlook for full financial year 2026

The business prospects for the consolidated entity remain strong. The key objectives for the remainder of the financial year are to convert new client sales opportunities into higher year on year revenues, margins and billable utilisation across the consolidated en�ty.

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Hydrix Limited Directors' Report For the half-year 31 December 2025

Significant changes in the state of affairs

There were no significant changes in the state of affairs of the consolidated entity during the financial half-year.

Matters subsequent to the end of the half-year

On 7th January 2026, Hydrix Limited announced that its wholly owned subsidiary Hydrix Services Pty Ltd entered into a $2.5m contract with SynCardia Systems LLC to commence an initial development phase for SynCardia's next-generation fully implantable Total Artificial Heart technology, known as the Emperor.

This initial stage will be completed within calendar year 2026, and is an initial phase within a broader, staged development program.

No other matter or circumstance has arisen since 31 December 2025 that has significantly affected, or may significantly affect the consolidated entity's operations, the results of those operations, or the consolidated entity's state of affairs.

Rounding of amounts

The company is of a kind referred to in Corporations Instrument 2016/191, issued by the Australian Securities and Investments Commission, relating to 'rounding-off'. Amounts in this report have been rounded off in accordance with that Corporations Instrument to the nearest dollar.

Auditor’s independence declaration

A copy of the auditor’s independence declaration as required under section 307C of the Corporations Act 2001 is set out immediately after this directors' report.

This report is made in accordance with a resolution of directors, pursuant to section 306(3)(a) of the Corporations Act 2001.

On behalf of the directors

Mr Gavin Coote Executive Chairman 27 February 2026 Melbourne

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Grant Thornton Audit Pty Ltd Level 22 Tower 5 Collins Square 727 Collins Street Melbourne VIC 3008 GPO Box 4736 Melbourne VIC 3001 T +61 3 8320 2222

Auditor’s Independence Declaration

To the Directors of Hydrix Limited

In accordance with the requirements of section 307C of the Corporations Act 2001 , as lead auditor for the review of Hydrix Limited for the half-year ended 31 December 2025. I declare that, to the best of my knowledge and belief, there have been:

• a no contraventions of the auditor independence requirements of the Corporations Act 2001 in relation to the review; and

• b no contraventions of any applicable code of professional conduct in relation to the review.

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Grant Thornton Audit Pty Ltd Chartered Accountants

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B A Mackenzie Partner – Audit & Assurance

Melbourne, 27 February 2026

www.grantthornton.com.au ACN-130 913 594

Grant Thornton Audit Pty Ltd ACN 130 913 594 a subsidiary or related entity of Grant Thornton Australia Limited ABN 41 127 556 389 ACN 127 556 389. ‘Grant Thornton’ refers to the brand under which the Grant Thornton member firms provide assurance, tax and advisory services to their clients and/or refers to one or more member firms, as the context requires. Grant Thornton Australia Limited is a member firm of Grant Thornton International Ltd (GTIL). GTIL and the member firms are not a worldwide partnership. GTIL and each member firm is a separate legal entity. Services are delivered by the member firms. GTIL does not provide services to clients. GTIL and its member firms are not agents of, and do not obligate one another and are not liable for one another’s acts or omissions. In the Australian context only, the use of the term ‘Grant Thornton’ may refer to Grant Thornton Australia Limited ABN 41 127 556 389 ACN 127 556 389 and its Australian subsidiaries and related entities. Liability limited by a scheme approved under Professional Standards Legislation.

9

Hydrix Limited

Consolidated Statement of Profit & Loss and Other Comprehensive Income For the half-year ended 31 December 2025

Revenue Revenue from contracts with customers Other Income Interest income Operating expenses Employee benefits expense Project material expenses Cost of sales Depreciation and amortisation expense Finance costs Rental expense Selling, advertising and distribution expenses Other expenses Share based payment expenses Write-back / (impairment) of receivables (Loss) / Gain on financial instruments at fair value through profit or loss Unrealised foreign exchange (loss) / gain Loss before income tax expense Income tax expense Loss after income tax expense Other comprehensive income Movement in functional currency of foreign operations Total comprehensive loss for year attributable to the Owners of Hydrix Limited Loss per share Basic and diluted loss per share (cents per share)	Note 3 4 4 4 8	31 Dec 2025 31 Dec 2024 $ $ 4,837,519 5,597,012 84,342 115,660 18,016 20,536 4,939,877 5,733,208 (4,465,101) (4,513,770) (263,728) (169,763) (4,310) (7,048) (270,301) (210,497) (595,881) (395,517) (93,520) (97,172) (51,177) (63,993) (1,061,934) (904,778) (20,897) (8,716) 23,744 (11,454) (472,949) 1,013 (4,234) 12,827 (7,280,288) (6,368,868) (2,340,411) (635,660) - - (2,340,411) (635,660) (10,386) (32,392) (2,350,797) (668,052) Cents Cents (0.86) (0.23) Consolidated	31 Dec 2025 31 Dec 2024 $ $ 4,837,519 5,597,012 84,342 115,660 18,016 20,536 4,939,877 5,733,208 (4,465,101) (4,513,770) (263,728) (169,763) (4,310) (7,048) (270,301) (210,497) (595,881) (395,517) (93,520) (97,172) (51,177) (63,993) (1,061,934) (904,778) (20,897) (8,716) 23,744 (11,454) (472,949) 1,013 (4,234) 12,827 (7,280,288) (6,368,868) (2,340,411) (635,660) - - (2,340,411) (635,660) (10,386) (32,392) (2,350,797) (668,052) Cents Cents (0.86) (0.23) Consolidated
			-
			(635,660)
			(32,392)
			(668,052)
			Cents
			(0.23)

The above consolidated statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes

10

Hydrix Limited

Consolidated Statement of Financial Position As at 31 December 2025

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Consolidated
Note 31 Dec 2025 30 Jun 2025
$ $
Current assets
Cash and cash equivalents 584,183 297,881
Trade and other receivables 1,405,039 1,730,465
Contract assets 139,414 397,314
Prepayments 364,450 238,630
Inventory 46 46
Total current assets 2,493,132 2,664,336
Non-current assets
Plant and equipment 86,364 119,512
Intangible assets 87,500 175,000
Financial assets at fair value through profit & loss 5 2,696,108 3,172,082
Right of use assets 727,606 961,000
Other assets 98,906 100,811
Security deposits 424,980 424,980
Total non-current assets 4,121,464 4,953,385
Total assets 6,614,596 7,617,721
Current liabilities
Trade and other payables 4,099,212 3,839,220
Contract liabilities 1,021,115 398,221
Other liabilities - 4,807
Employee benefits 932,702 1,127,097
Borrowings 6 8,155,685 6,083,010
Lease liabilities C 355,824 483,841
Total current liabilities 14,564,538 11,936,197
Non-current liabilities
Employee benefits' 157,804 174,661
Provisions' 87,066 183,977
Borrowings NC 6 - 1,000,000
Lease liabilities NC 907,009 1,094,806
Total non-current liabilities 1,151,878 2,453,444
Total liabilities 15,716,416 14,389,641
Net assets (9,101,820) (6,771,920)
Equity
Issued capital 102,411,434 102,411,434
Reserves 67,651 57,140
Accumulated losses (111,580,905) (109,240,494)
Total equity (9,101,820) (6,771,920)
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The above consolidated statement of financial position should be read in conjunction with the accompanying notes

11

Hydrix Limited

Consolidated Statement of Changes in Equity For the half-year ended 31 December 2025

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Issued Accumulated
capital Reserves losses Total
Consolidated $ $ $ $
Balance at 1 July 2024 102,126,684 353,758 (105,835,534) (3,355,091)
Loss after income tax expense for the half-year - - (635,660) (635,660)
Other comprehensive income, net of tax - (32,392) - (32,392)
Total comprehensive loss for the half-year - (32,392) (635,660) (668,052)
Transactions with owners in their capacity as owners:
Share based payments - 8,716 - 8,716
Exercised options / performance rights 58,500 (58,500) - -
Expired options / performance rights - (45,835) 45,835 -
Contributions of equity, net of transaction costs 219,499 - - 219,499
Balance at 31 December 2024 102,404,684 225,747 (106,425,360) (3,794,929)
Issued Accumulated
capital Reserves losses Total
$ $ $ $
Balance at 1 July 2025 102,411,434 57,140 (109,240,494) (6,771,920)
Loss after income tax expense for the half-year - - (2,340,411) (2,340,411)
Other comprehensive income, net of tax - (10,386) - (10,386)
Total comprehensive loss for the half-year - (10,386) (2,340,411) (2,350,797)
Transactions with owners in their capacity as owners:
Share based payments - 20,897 - 20,897
Balance at 31 December 2025 102,411,434 67,651 (111,580,905) (9,101,820)
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The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes

12

Hydrix Limited Consolidated Statement of Cash Flows For the half-year ended 31 December 2025

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Note 31 Dec 2025 31 Dec 2024
$ $
Cash Flows from operating activities
Receipts from customers (including GST) 6,336,207 5,954,886
Payments to suppliers and employees (including GST) (6,397,899) (5,396,369)
Income tax receipt (R&D tax incentive) 39,309 -
Net cash flow (used in) / from operating activities (22,383) 558,517
Cash Flows from investing activities
Payments for plant and equipment (7,850) (8,320)
Payments for intangible assets (4,521) (27,417)
Net cash flow used in investing activities (12,372) (35,737)
Cash Flows from financing activities
Proceeds from borrowings 1,115,769 1,391,895
Repayments of borrowings (222,564) (1,008,681)
Interest received 18,016 20,536
Interest and other finance costs paid (201,167) (243,597)
Repayments of lease liabilities (388,230) (480,371)
Net cash flow from / (used in) financing activities 321,824 (320,218)
Net increase in cash and cash equivalents 287,070 202,563
Cash and cash equivalents at the beginning of the financial half-year 297,881 914,274
Effects of exchange rate changes on cash and cash equivalents (768) 1,089
Cash and cash equivalents at end of the financial half-year 584,183 1,117,926
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The above consolidated statement of cash flows should be read in conjunction with the accompanying notes

13

Hydrix Limited Notes accompanying the Financial Statements For the half-year ended 31 December 2025

1 Material accounting policies

These general purpose financial statements for the interim half-year reporting period ended 31 December 2025 have been prepared in accordance with Australian Accounting Standard AASB 134 'Interim Financial Reporting' and the Corporations Act 2001, as appropriate for for-profit oriented entities. Compliance with AASB 134 ensures compliance with International Financial Reporting Standard IAS 34 'Interim Financial Reporting'.

These general purpose financial statements do not include all the notes of the type normally included in annual financial statements. Accordingly, these financial statements are to be read in conjunction with the annual report for the year ended 30 June 2025 and any public announcements made by the company during the interim reporting period in accordance with the continuous disclosure requirements of the Corporations Act 2001.

The principal accounting policies adopted are consistent with those of the previous financial year and corresponding interim reporting period.

Historical cost convention

The financial statements have been prepared under the historical cost convention, except for, where applicable, the revaluation of financial assets.

New or amended Accounting Standards and Interpretations adopted

The consolidated entity has adopted all of the new or amended Accounting Standards and Interpretations issued by the Australian Accounting Standards Board ('AASB') that are mandatory for the current reporting period.

Any new or amended Accoun�ng Standards or Interpreta�ons that are not yet mandatory have not been early adopted.

Going concern

The financial statements have been prepared on the going concern basis, which contemplates continuity of normal business activities and the realisation of assets and discharge of liabilities in the ordinary course of business.

For the half year period ended 31 December 2025, the consolidated entity incurred a net loss before tax of $2,340,411, reported cash used in operations of $22,383 and had a net current assets deficit (current assets less current liabilities) of $12,071,406.

These conditions indicate the existence of material uncertainties that may cast significant doubt on the consolidated entity’s ability to continue as a going concern and, therefore, whether it will be able to realise its assets and extinguish its liabilities in the normal course of business at the amounts stated in the financial report.

Despite these material uncertainties, the directors are of the opinion the consolidated entity will continue as a going concern, taking into consideration various factors including:

• The consolidated entity had an available cash balance of $584,183 at 31 December 2025.

• $3.7m of sales in the March 2026 quarter as at the date of this report underpin a strong revenue forecast through the next 12 months. The directors have reviewed and approved detailed budgeted cash flow forecasts for the 12 month period from the date of signing of the financial statements, which demonstrate the consolidated entity’s ability to meet its obligations as they fall due, subject to forecast assumptions and future events.

• Directors have provided a Letter of Support to the business for $2.2m, valid until 11 October 2026, which may be extended by mutual agreement.

• Director loans of $2.8m have a maturity date of 1 October 2026, which may be extended further by mutual agreement.

• Convertible Notes of $2.6m have a maturity date of 11 October 2026.

• TP24 finance facility was renewed to 30 April 2026.

• The Group has an overdue PAYG obligation with the ATO of $2.5 million (excluding interest). The Group has engaged constructively with the ATO and submitted a payment plan proposal to address the outstanding balance through operating cash flows. Pending formal confirmation from the ATO, the Group has been honouring the terms of the proposed payment plan and has been making payments in accordance with the proposal.

• At a Board level, the directors are actively evaluating strategic capital and liquidity initiatives, including potential equity funding, alternative debt arrangements and asset realisation strategies, to ensure sufficient liquidity is available should it be required to support working capital and strategic growth.

• The directors are continuously assessing the consolidated entity’s asset base and liquidity options, including the potential sale or monetisation of Hydrix Ventures’ assets, as part of an ongoing capital management strategy.

• The directors continue to defer interest payments on loans and convertible notes, as well as directors fees, in support of the working capital requirements of the Group.

Accordingly, the financial report has been prepared on a going concern basis; however, the consolidated entity’s ability to continue as a going concern is dependent on the ongoing support of these arrangements and a material uncertainty exists that may cast significant doubt on the consolidated entity’s ability to continue as a going concern should such support not continue.

The financial statements do not include any adjustments relating to amounts or classification of recorded assets or liabilities that might be necessary should the consolidated entity not be able to continue as a going concern.

14

Notes accompanying the Financial Statements For the half-year ended 31 December 2025

Hydrix Limited

2 Operating Segments

Identification of reportable operating segments

The consolidated entity is organised into three operating segments based on the internal reports that are reviewed and used by the Board of Directors [who are identified as the Chief Operating Decision Makers ('CODM')] in assessing performance and in determining the allocation of resources. There is no aggregation of operating segments.

Operating segments are presented using the 'management approach’, where the information presented is on the same basis as the internal reports provided to the CODM, who are responsible for the allocation of resources to operating segments and assessing their performance.

The consolidated entity's operations are in four geographical locations, being Australia, Singapore, New Zealand, and the USA.

Operating Segment Information Consolidated - 31 Dec 2025 Revenue Revenue from contracts with customers Total segment revenue Other income Interest revenue Other income Total segment income EBITDA Finance costs Depreciation and amortisationexpense Write-back of receivables Share based payment expenses Unrealised foreign exchange loss Loss on financial instruments at FVTPL Loss before income tax expense Income tax expense Loss after income tax expense Assets Segment assets Unallocated assets: Cash and cash equivalents Intangible assets Hydrix Ventures financial assets Other assets Total assets Liabilities Segment liabilities Unallocated liabilities: Borrowings Other liabilities Total liabilities	Hydrix Services $ 4,835,981 4,835,981 - 84,342 4,920,323 (52,385) (292,522) (269,524) 23,744 (13,921) (1,209) - (605,817) - (605,817) 3,108,553 - - - - 3,108,553 8,026,983 - - 8,026,983	Hydrix Medical $ 1,538 1,538 - - 1,538 (192,710) (98) (751) - (2,672) - - (196,231) - (196,231) 40,324 - - - - 40,324 64,269 - - 64,269	Hydrix Ventures $ - - - - - (4,315) - - - - (3,025) (472,949) (480,290) - (480,290) 142 - - 2,696,108 - 2,696,250 314 - - 314	Unallocated $ - - 18,016 - 18,016 (750,484) (303,261) (25) - (4,304) - - (1,058,074) - (1,058,074) - 584,183 87,500 - 97,786 769,469 - 6,973,484 651,366 7,624,850	Total Operations $ 4,837,519 4,837,519 18,016 84,342 4,939,877 (999,894) (595,881) (270,300) 23,744 (20,897) (4,234) (472,949) (2,340,411) - (2,340,411) 3,149,019 584,183 87,500 2,696,108 97,786 6,614,596 8,091,566 6,973,484 651,366 15,716,416

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Hydrix Limited

Notes accompanying the Financial Statements For the half-year ended 31 December 2025

2 Operating Segments (continued)

Consolidated - 31 Dec 2024 Revenue Revenue from contracts with customers Total segment revenue Other income Interest revenue Other revenue Total Segment income EBITDA Finance costs Depreciation and amortisationexpense Impairment of receivables Share based payment expenses Unrealised foreign exchange gain Gain on financial instruments at FVTPL Profit / (Loss) before income tax expense Income tax expense Profit / (Loss) after income tax expense Assets Segment assets Unallocated assets: Cash and cash equivalents Intangible assets Hydrix Ventures financial assets Other assets Total assets Liabilities Segment liabilities Unallocated liabilities: Borrowings Other liabilities Total liabilities	Hydrix Services $ 5,595,872 5,595,872 - 115,660 5,711,532 821,229 (175,904) (208,746) (11,454) (6,963) 3,663 - 421,825 - 421,825 3,914,877 - - - - 3,914,877 7,381,138 - - 7,381,138	Hydrix Medical $ 1,140 1,140 - - 1,140 (191,960) - (1,711) - (281) - - (193,952) - (193,952) 50,709 - - - - 50,709 63,766 - - 63,766	Hydrix Ventures $ - - - - - (181) - - - - 9,164 1,013 9,996 9,996 142 - - 3,426,298 - 3,426,440 314 - - 314	Unallocated $ - - 20,536 - 20,536 (652,401) (219,613) (42) - (1,473) - - (873,529) (873,529) - 1,117,925 525,000 - 58,482 1,701,407 - 4,595,059 848,084 5,443,143	Total Operations $ 5,597,012 5,597,012 20,536 115,660 5,733,208 (23,313) (395,517) (210,499) (11,454) (8,717) 12,827 1,013 (635,660) - (635,660) 3,965,728 1,117,925 525,000 3,426,298 58,482 9,093,433 7,445,218 4,595,059 848,084 12,888,361

16

Hydrix Limited

Notes accompanying the Financial Statements For the half-year ended 31 December 2025

3 Revenue

Revenue from contracts with customers Project revenue – services Project revenue – materials Project revenues Sales of Avertix Guardian Consumables Total revenue from contracts with customers	31 Dec 2025 31 Dec 2024 $ $ 4,541,157 5,445,321 294,824 150,552 4,835,981 5,595,873 1,538 1,140 4,837,519 5,597,012 Consolidated

Disaggregation of revenue

The disaggregation of revenue from contracts with customers is as follows:

Timing of revenue recognition

Goods transferred at a point in time Services transferred over time	1,538 4,835,981 4,837,519	1,140 5,595,873 5,597,012

4 Expenses

Loss before income tax includes the following specific expenses: Finance costs Interest expense on lease liabilities Interest on loans Total finance costs (Loss) / Gain on financial instruments at fair value through profit or loss (Loss) /Gain on financial assets Other expenses Consultancy charges Corporate advisory transaction costs Directors' fees Insurance Investor relations IT related expenses Legal and professional charges Listing fees and share register maintenance Regulatory Fees Travelling costs Administration expenses Total other expenses

31 Dec 2025 31 Dec 2024 $ $ 72,417 104,981 523,464 290,536 595,881 395,517 (472,949) 1,013 (472,949) 1,013 6,607 8,956 - 1,648 82,131 82,131 123,417 127,114 31,896 31,955 238,886 227,190 291,432 225,641 42,299 36,816 8,538 - 130,809 85,479 105,919 77,848 1,061,934 904,778 Consolidated

• 5 Financial assets at fair value through profit & loss

Listed ordinary shares Unlisted ordinary shares	31 Dec 2025 30 Jun 2025 $ $ 7,039 4,052 2,689,069 3,168,030 2,696,108 3,172,082 Consolidated

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Notes accompanying the Financial Statements For the half-year ended 31 December 2025

Hydrix Limited

5 Financial assets at fair value through profit & loss (continued)

All investments in unlisted ordinary shares are classified as Tier 2 investments under AASB 13 Fair Value Measurement for the purpose of determining fair value.

During November 2025, WaveWise Analytics Pty Ltd completed a capital raise through the issuance of Series A Senior Preference shares at a price of $2.77 per share.

Prior to this transaction, the Group’s investment in WaveWise Analytics Pty Ltd was measured using a Level 3 fair value methodology due to ‑ the absence of observable market inputs. The capital raise represents an arm’s length transaction and provides an observable input that management has determined to be the most appropriate basis for estimating fair value at the reporting date.

As a result, the investment was remeasured to fair value, resulting in a $337,397 decrease recognised during the period

6 Borrowings

Current Shareholder loans - UnsecuredC Insurance premium funding TP24 CreditLine - Secured AMEX Credit Card Convertible note - Unsecured Non-current Shareholder loans - UnsecuredC	31 Dec 2025 30 Jun 2025 $ $ 3,363,506 1,713,985 195,455 85,538 986,745 746,266 96,287 13,307 3,513,692 3,523,915 8,155,685 6,083,010 - 1,000,000 - 1,000,000 Consolidated

Financing arrangements

Unrestricted access was available at the reporting date to the following lines of credit:

Total facilities Shareholder loans Convertible note TP24 CreditLine AMEX Credit Card Used at the reporting date Shareholder loans Convertible note TP24 CreditLine AMEX Credit Card Unused at the reporting date Shareholder loans TP24 CreditLine AMEX Credit Card	31 Dec 2025 30 Jun 2025 $ $ 3,050,000 2,750,000 2,922,000 3,060,000 1,000,000 746,266 112,000 112,000 7,084,000 6,668,266 3,050,000 2,500,000 2,922,000 3,060,000 986,745 746,266 96,287 13,307 7,055,032 6,319,573 - 250,000 13,255 - 15,713 98,693 28,968 348,693 Consolidated

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Hydrix Limited

Notes accompanying the Financial Statements For the half-year ended 31 December 2025

7 Related party transactions

Transactions with related parties

7 Related party transactions Transactions with related parties
The following transactions occurred with related parties:	31 Dec 2025 31 Dec 2024 $ $ Consolidated
Loans received from shareholders Interest expenses on loans from shareholders Interest expenses on convertible notes issued to shareholders	550,000 250,000
	152,773 63,014
	151,938 154,258
Payable to related parties:	31 Dec 2025 30 Jun 2025 $ $ Consolidated
Director fees payable Interest payable to shareholders	198,819 905,197	116,688 677,900
Loans from related parties	1,104,016 794,588 31 Dec 2025 30 Jun 2025 $ $ Consolidated
Loans from shareholders	3,050,000 2,500,000
8 Earnings per share
	31 Dec 2025 31 Dec 2024 $ $ Consolidated
Loss after income tax attributable to the owners of Hydrix Limited Anti-dilutive shares excluded from weighted average number of ordinary shares: Options & Rights over ordinary shares Convertible note Basic and diluted loss per share Weighted average number of ordinary shares used in calculating basic earnings per share Weighted average number of ordinary shares used in calculating diluted earnings per share	(2,340,411) (635,660) Number Number 13,938,727 6,387,220 2,922,000 3,060,000 Cents Cents (0.86) (0.23) 272,768,847 272,768,847 272,768,847 272,768,847

9 Contingent liabilities

The consolidated entity had no contingent liabilities as at 31 December 2025 (2024: nil).

10 Events after the reporting period

On 7th January 2026, Hydrix Limited announced that its wholly owned subsidiary Hydrix Services Pty Ltd entered into a $2.5m contract with SynCardia Systems LLC to commence an initial development phase for SynCardia's next-generation fully implantable Total Artificial Heart technology, known as the Emperor.

This initial stage will be completed within calendar year 2026, and is an initial phase within a broader, staged development program.

No other matter or circumstance has arisen since 31 December 2025 that has significantly affected, or may significantly affect the consolidated entity's operations, the results of those operations, or the consolidated entity's state of affairs.

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Hydrix Limited Directors' Declaration 31 December 2025

In the directors' opinion:

• the attached financial statements and notes comply with the Corporations Act 2001, Australian Accounting Standard AASB 134 'Interim Financial Reporting', the Corporations Regulations 2001 and other mandatory professional reporting requirements;

• the attached financial statements and notes give a true and fair view of the consolidated entity's financial position as at 31 December 2025 and of its performance for the financial half-year ended on that date; and

• there are reasonable grounds to believe that the consolidated entity will be able to pay its debts as and when they become due and payable.

Signed in accordance with a resolution of directors made pursuant to section 303(5)(a) of the Corporations Act 2001 .

On behalf of the directors

Mr Gavin Coote

Executive Chairman 27 February 2026 Melbourne

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Grant Thornton Audit Pty Ltd Level 22 Tower 5 Collins Square 727 Collins Street Melbourne VIC 3008 GPO Box 4736 Melbourne VIC 3001 T +61 3 8320 2222

Independent Auditor’s Review Report

To the Members of Hydrix Limited

Report on the half-year financial report

Conclusion

We have reviewed the accompanying half-year financial report of Hydrix Limited (the Company) and its subsidiaries (the Group), which comprises the consolidated statement of financial position as at 31 December 2025, and the consolidated statement of profit or loss and other comprehensive income, consolidated statement of changes in equity and consolidated statement of cash flows for the half-year ended on that date, including material accounting policy information, other selected explanatory notes, 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 Hydrix Limited does not comply with the Corporations Act 2001 including:

• a giving a true and fair view of the Group’s financial position as at 31 December 2025 and of its performance for the halfyear 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 Review 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 the Company 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.

www.grantthornton.com.au ACN-130 913 594

Grant Thornton Audit Pty Ltd ACN 130 913 594 a subsidiary or related entity of Grant Thornton Australia Limited ABN 41 127 556 389 ACN 127 556 389. ‘Grant Thornton’ refers to the brand under which the Grant Thornton member firms provide assurance, tax and advisory services to their clients and/or refers to one or more member firms, as the context requires. Grant Thornton Australia Limited is a member firm of Grant Thornton International Ltd (GTIL). GTIL and the member firms are not a worldwide partnership. GTIL and each member firm is a separate legal entity. Services are delivered by the member firms. GTIL does not provide services to clients. GTIL and its member firms are not agents of, and do not obligate one another and are not liable for one another’s acts or omissions. In the Australian context only, the use of the term ‘Grant Thornton’ may refer to Grant Thornton Australia Limited ABN 41 127 556 389 ACN 127 556 389 and its Australian subsidiaries and related entities. Liability limited by a scheme approved under Professional Standards Legislation.

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Material uncertainty related to going concern

We draw attention to Note 1 in the financial report, which indicates that the Group incurred a net loss of $2,340,411 during the half year ended 31 December 2025 and, as at that date, the Group’s current liabilities exceeded its current assets by $12,071,406. The Group also reported net cash used in operating activities of $22,383 for the half year ended 31 December 2025. As stated in Note 1, these events or conditions, along with other matters as set forth in Note 1, indicate that a material uncertainty exists that may cast significant doubt on the Group's ability to continue as a going concern. Our conclusion is not modified in respect of this matter.

Directors’ responsibility for the half-year financial report

The Directors of the Company 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.

Auditor’s responsibility for the review of the financial report

Our responsibility is to express a conclusion on the half-year financial report based on our review. We conducted our review in accordance with Auditing Standard on Review Engagements ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity , in order to state whether, on the basis of the procedures described, 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 2025 and its performance for the halfyear 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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Grant Thornton Audit Pty Ltd Chartered Accountants

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B A Mackenzie Partner – Audit & Assurance

Melbourne, 27 February 2026

Grant Thornton Audit Pty Ltd

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