JCURVE SOLUTIONS LTD - Annual Report 2025

ABN 63 088 257 729 9 Help St, Chatswood NSW 2067, Level 8, Australia https://www.jcurvesolutions.com/

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29 August 2025

Appendix 4E Results for announcement to the market Preliminary Final Report

JCURVE SOLUTIONS LIMITED (ASX: JCS) (Jcurve), the company that builds partnerships that help people and businesses grow, provides the following update to the previously reported unaudited preliminary results for the Year ended 30 June 2025.

The unaudited results for the year ended 30 June 2025 are shown below with comparisons to the previous corresponding period, being the year ended 30 June 2024.

Results for announcement to the market	Year ended 30 June 2025 ($) - unaudited	Year ended 30 June 2024 ($)	Change vs FY24 ($)	Percentage increase / decrease over previous corresponding period
Revenue	11,343,694	12,738,932	(1,395,238)	11% decrease
Operating profit/(loss) before interest, taxation, depreciation and amortisation(EBITDA)*	497,919	(648,861)	1,146,780	177% improvement**
Normalised profit/(loss) before interest, taxation, depreciation and amortisation(Normalised EBITDA)*	811,810	(360,092)	1,171,902	325% improvement**
Net loss before tax	(421,523)	(1,934,104)	1,512,581	78% improvement
Net loss after tax	(659,770)	(2,158,582)	1,498,812	69% improvement
Loss from ordinary activities after tax attributable to members	(659,770)	(2,158,582)	1,498,812	69% improvement
Net loss for the period attributable to members	(659,770)	(2,158,582)	1,498,812	69% improvement

FY24 comparatives adjusted loss after tax increased by $254,029 due to a reclassification from OCI/FCTR to profit or loss under AASB 121. The item is non-cash

** swing to profit

As part of finalising the FY25 financial report and audit, Normalised EBITDA has been updated from $926,044 (announced 25 July 2025) to $811,810 and Loss before tax has been updated from ($228,947) (announced 25 July 2025) to ($421,523). The movement primarily reflects foreign exchange classification or timing refinements and adjustments to share based payments. Other period-end adjustments were individually immaterial

Dividends

No dividends have been declared or paid relating to the financial year ended 30 June 2025.

ABN 63 088 257 729 9 Help St, Chatswood NSW 2067, Level 8, Australia https://www.jcurvesolutions.com/

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Net Tangible Assets / Earnings Per Share

	30 June 2025 unaudited	30 June 2024
Net tangible assets per ordinary share for continuing operations	(0.28) cents	(0.05) cents
Basic earnings/(loss) per ordinary share for continuing operations	(0.20) cents	(0.65) cents
Diluted earnings/(loss) per ordinary share for continuing operations	(0.20) cents	(0.65) cents

Entities over which control has been gained

On 2 January 2025, the Group acquired the Singapore business operations of Rapid eSuite for a nominal consideration of SG$1. The acquisition included the transfer of existing customer contracts, sales pipeline, and the onboarding of two senior personnel who have assumed leadership roles within Jcurve’s Singapore operations. The acquisition strengthens the Group’s presence in the Asia region and is aligned with its growth strategy in partnership with Oracle NetSuite

Audit qualification or review

The information outlined above is presented in accordance with ASX Listing Rule 4.3A and the Corporations Act 2001 (Corporations Act). The Appendix 4E is based on the preliminary Financial Report for the year ended 30 June 2025. The preliminary Financial Report is unaudited.

Accounting Policies, Estimation Methods and Measurements

Estimation methods and measurement bases used in the Appendix 4E are the same as those used in the previous annual report.

Explanation of Result

The Group’s financial performance for FY25 reflects a marked improvement on the prior year, underpinned by operational improvements, increased efficiency, and improved margins on commissions.

The Company reported revenue of $11,343,694 for FY25, a decrease representing a 11% decrease on FY24. Normalised EBITDA (adjusted for one-off items) improved significantly, moving from a loss of $360,092 in FY24 to a profit of $811,810 in FY25. The statutory net loss after tax narrowed substantially to $659,770, compared to a loss of $2,158,582 in the previous year.

Performance continued to strengthen in the second half of the year. Following a normalised EBITDA loss of $184,533 in H1 FY25, the Company delivered a positive normalised EBITDA of $966,143 in H2 FY25. These results reflect the benefits of NetSuite tiering uplifts, the closure of multi-year deals, and disciplined cost management. The Group expects this momentum to carry into FY26.

As at 30 June 2025, the Group held cash at bank of $1,369,052 and remains debt free. The Group also has access to an undrawn working capital facility of $750,000, providing additional liquidity headroom to support ongoing operations and growth. Subsequent to year-end, the Company completed a strategic share placement raising $1,000,000 (as disclosed in release dated 28 July 2025), further strengthening liquidity and funding growth initiatives.

ABN 63 088 257 729

9 Help St, Chatswood NSW 2067, Level 8, Australia https://www.jcurvesolutions.com/

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Yours faithfully

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Mark Jobling Chairman

About Jcurve

Jcurve works collaboratively with ambitious organisations to drive growth through the effective use of technology. Serving as a trusted guide in an on-demand world, Jcurve helps build growing and resilient organisations to withstand market disruption.

From business management solutions and consulting services to field service management and digital marketing services – Jcurve is uniquely positioned to help organisations on their business transformation journey.

For more information, please visit www.jcurvesolutions.com

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Jcurve Solutions Limited ABN 63 088 257 729

Preliminary Final Report - 30 June 2025

Jcurve Solutions Limited ABN 63 088 257 729

Financial report - 30 June 2025

Contents	Page
Financial statements
Consolidated statement of profit and loss and other comprehensive income	2
Consolidated statement of financial position	3
Consolidated statement of changes in equity	4
Consolidated statement of cash flows	5
Notes to the consolidated financial statements	6

These financial statements are the consolidated financial statements of the Group consisting of Jcurve Solutions Limited and its subsidiaries. A list of subsidiaries is included in note 26.

The financial statements are presented in the Australian dollars ($) which is Jcurve Solutions Limited’s functional and presentation currency.

The company is of a kind referred to in ASIC Legislative Instrument 2016/191 , relating to the 'rounding off' of amounts in the financial statements. Amounts in the financial statements have been rounded off in accordance with the instrument to the nearest dollar.

Jcurve Solutions Limited is a Company limited by shares, incorporated and domiciled in Australia.

Its registered office and principal place of business is:

Jcurve Solutions Limited

Level 8,9 Help Street Chatswood,

New South Wales, NSW, 2067

Principal activities

During the year the principal continuing activities of the Group consisted of:

(a) the sale, implementation and support of Enterprise Resource Planning (ERP) solutions, which consisted of:
(i) the exclusively licensed small business edition of Oracle NetSuite, JCurveERP (in Australia and New Zealand);
(ii) the Oracle NetSuite mid-market and enterprise editions (in Australia, New Zealand and South East Asia);
(b) software, Jtel Next, that operates in the telecommunications expense management software market.
(c) the continued development of Jcurve FSM, the Group’s proprietary owned Service Management Platform including the sale and support of the platform to paying customers.

Jcurve Solutions Limited Consolidated statement of profit and loss and other comprehensive income For the year ended 30 June 2025

Notes Revenue from contracts with customers 6 Cost of revenue Gross profit Sales and marketing 7 General and administration 7 Product design and development 7 Operating profit/(loss) before depreciation, amortisation and impairment expenses Depreciation, amortisation and impairment 7 Operating loss Interest income Loss before financing and income tax expense Finance costs 8 Loss before income tax Income tax expense 9 Loss for the year Other comprehensive income Item that may be reclassified to profit or loss Exchange differences on translation of foreign operations 20 Blank Other comprehensive (loss)/income for the year, net of tax Total comprehensive loss for the year space Earnings per share for attributable to the ordinary equity holders of the Company: Basic earnings per share 28 Diluted earnings per share 28	2025 $ 2024 Restated $ 11,343,694 12,738,932 (2,731,511)* (3,625,359)
	8,612,183 9,113,573 (3,575,278) (3,142,579) (4,223,424) (6,141,561) (315,562) (478,294)
	497,919 (648,861) (878,329) (1,253,940)
	(380,410) (1,902,801) 10,843 19,201
	(369,567) (1,883,600) (51,956) (50,504)
	(421,523) (1,934,104) (238,247) (224,478)
	(659,770) (2,158,582)
	(210,562) 222,798
	(210,562) 222,798
	(870,332) (1,935,784)
	Cents Cents (0.20) (0.66) (0.20) (0.65)

See note 20 for details of the reclassification.

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

Jcurve Solutions Limited Consolidated statement of financial position As at 30 June 2025

Notes ASSETS Current assets Cash and cash equivalents 10 Trade and other receivables 11 Contract assets 6(a) Current tax receivables Total current assets Non-current assets Other financial assets 12 Property, plant and equipment Right-of-use assets 13 Intangible assets 14 Deferred tax assets 15 Total non-current assets Total assets LIABILITIES Current liabilities Trade and other payables 16 Contract liabilities 6(a) Lease liabilities 13 Current tax liabilities Provisions 17 Total current liabilities Non-current liabilities Contract liabilities 6 Lease liabilities 13 Deferred tax liabilities 18 Provisions 17 Total non-current liabilities Total liabilities Net assets EQUITY Share capital 19 Other reserves 20 Accumulated losses Total equity	2025 $ 2024 $ 1,369,052 1,596,275 1,567,365 1,635,888 424,267 207,887 260,012 -
	3,620,696 3,440,050
	33,353 218,180 31,520 44,605 118,116 597,614 2,437,865 2,449,123 869,689 1,336,289
	3,490,543 4,645,811
	7,111,239 8,085,861
	1,758,078 1,355,660 2,001,358 1,864,188 135,319 533,807 - 63,550 458,954 377,168
	4,353,709 4,194,373
	353,505 240,931 - 131,539 869,689 1,098,042 32,701 143,998
	1,255,895 1,614,510
	5,609,604 5,808,883
	1,501,635 2,276,978
	17,638,218 17,586,326 1,491,592 1,659,057 (17,628,175) (16,968,405)
	1,501,635 2,276,978

See note 20 for a reclassification from accumulated losses to other reserves.

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

Jcurve Solutions Limited Consolidated statement of changes in equity For the year ended 30 June 2025

		Attributable to owners of	Attributable to owners of	Attributable to owners of
		Jcurve	Solutions Limited
		Contributed	Other	Accumulated
		equity	reserves*	losses*	Total equity
	Notes	$	$	$	$
Balance at 1 July 2023		17,586,326	1,712,815	(14,567,744)	4,731,397
Reclassification	20	-	(332,522)	332,522	-
Restated total equity at the
beginning of the financial year		17,586,326	1,380,293	(14,235,222)	4,731,397
Loss for the year		-	-	(2,158,582)	(2,158,582)
Other comprehensive income
(restated*)		-	222,798	-	222,798
Total comprehensive income/(loss)
for the year (restated)*		-	222,798	(2,158,582)	(1,935,784)
Transactions with owners in their
capacity as owners:
Dividends provided for or paid	21	-	-	(574,601)	(574,601)
Employee share based payments	20	-	55,966	-	55,966
		-	55,966	(574,601)	(518,635)
*Balance at 30 June 2024 (restated)**		17,586,326	1,659,057	(16,968,405)	2,276,978
Balance at 1 July 2024 as originally		17,586,326	1,737,550	(17,046,898)	2,276,978
presented
Reclassification	20	-	(78,493)	78,493	-
Restated total equity at the
beginning of the financial year		17,586,326	1,659,057	(16,968,405)	2,276,978
Loss for the year		-	-	(659,770)	(659,770)
Other comprehensive loss		-	(210,562)	-	(210,562)
Total comprehensive loss for the
year		-	(210,562)	(659,770)	(870,332)
Transactions with owners in their
capacity as owners:
Employee share based payments	20	-	94,989	-	94,989
Issue of shares to employees	19, 20	51,892	(51,892)	-	-
		51,892	43,097	-	94,989
Balance at 30 June 2025		17,638,218	1,491,592	(17,628,175)	1,501,635

See note 20 for details of the reclassification.

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

Jcurve Solutions Limited Consolidated statement of cash flows For the year ended 30 June 2025

Notes Cash flows from operating activities Receipts from customers (inclusive of GST) Payments to suppliers and employees (inclusive of GST) Interest received Interest paid Income taxes paid Net cash inflow/(outflow) from operating activities 27 Cash flows from investing activities Payments for property, plant and equipment Payments for software development costs Proceeds from sale of property, plant and equipment Net cash outflow from investing activities Cash flows from financing activities Interest expense of leases Principal elements of lease payments 27(b) Dividends paid to company's shareholders 21 Net cash outflow from financing activities Net decrease in cash and cash equivalents Cash and cash equivalents at the beginning of the financial year Effects of exchange rate changes on cash and cash equivalents Cash and cash equivalents at end of year 10	2025 $ 2024 $ 12,602,885 12,779,385 (11,595,196) (13,806,267)
	1,007,689 (1,026,882) 10,800 5,721 (25,619) - (323,563) (196,126)
	669,307 (1,217,287)
	(4,765) - (345,227) (491,512) - 5,155
	(349,992) (486,357)
	(19,898) (37,024) (542,245) (341,280) - (574,601)
	(562,143) (952,905)
	(242,828) (2,656,549) 1,596,275 4,265,288 15,605 (12,464)
	1,369,052 1,596,275

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

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025

(continued)

1 Summary of material accounting policies

This note provides a list of all material accounting policies adopted in the preparation of these consolidated financial statements. These policies have been consistently applied to all the years presented, unless otherwise stated. The financial statements are for the Group consisting of Jcurve Solutions Limited (the "Company") and its subsidiaries (the "Group").

(a) Basis of preparation

These general purpose financial statements have been prepared in accordance with Australian Accounting Standards and Interpretations issued by the Australian Accounting Standards Board and the Corporations Act 2001 . Jcurve Solutions Limited is a for-profit entity for the purpose of preparing the financial statements.

(i) Compliance with IFRS Accounting Standards

The consolidated financial statements of the Group also comply with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB).

(ii) Historical cost convention

The financial statements have been prepared on the historical cost basis, except for share based payments recorded on a fair value basis, unless otherwise stated.

(iii) Comparatives

Where necessary, comparative information has been reclassified and adjusted for consistency with current year disclosures.

(iv) New and amended standards adopted by the Group

The Group has applied the following standards and amendments for the first time in their annual reporting period commencing 1 July 2024:

AASB 2020-1 Amendments to Australian Accounting Standards - Classification of Liabilities as Current or Non-current [AASB 101];
AASB 2022-6 Amendments to Australian Accounting Standards - Non-current Liabilities with Covenants [AASB 101];
AASB 2022-5 Amendments to Australian Accounting Standards - Lease Liability in a Sale and Leaseback [AASB 16]; and
AASB 2023-1 Amendments to Australian Accounting Standards - Supplier Finance Arrangements [AASB 7 & AASB 107].

The amendments listed above did not have any impact on the amounts recognised in prior periods and are not expected to significantly affect the current or future periods.

(v) New standards and interpretations not yet adopted

Certain new accounting standards, amendments to accounting standards and interpretations have been published that are not mandatory for 30 June 2025 reporting periods and have not been early adopted by the Group, with the exception of AASB 18 - Presentation and Disclosure in Financial Statements . The Group has elected to early adopt AASB 18, but will assess the impact of other new standards and amendments in future reporting periods.

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025 (continued)

1 Summary of material accounting policies (continued)

(b) Going concern

For the year ended 30 June 2025 the Group recorded a loss after tax of $659,770 (2024: loss $2,158,582) and net operating cash inflows of $669,307 (2024: outflows $1,217,287) . At 30 June 2025 the Group had a working capital deficiency of $733,013 (2024: deficiency $754,323) , cash of $1,369,052 (2024: $1,596,275) and an undrawn bank overdraft facility of $1,000,000, which reduced to $750,000 on 31 July 2025 and remains undrawn.

Earlier in the financial year, the Group disclosed a material uncertainty related to going concern. Subsequent to year end, the Group completed a strategic share placement raising approximately $1.0 million (before costs) ; this amount is not included in the 30 June 2025 cash balance. During the year, the Group also implemented restructuring and cost optimisation initiatives that significantly reduced its operating cost base. The Group’s key software provider has confirmed highest-tier margins for the next six months, supporting revenue stability over that period. Together with operating cash inflows and available facility headroom, these developments strengthen the Group’s liquidity position.

The directors have considered 12 month cash flow forecasts and sensitised scenarios that reflect 20% annual contract value growth, reduced attrition and commission assumptions aligned to the provider’s criteria for 1 July 2025 to 31 December 2025; for periods thereafter, commission rates and annual recurring revenue growth reflect the most probable outcome given current pipeline and tiering framework. The assessment also considers actions within management’s control including deferring or reducing discretionary expenditure, optimising headcount and contractor spend, phasing project and marketing investments, and working capital management which provide additional liquidity headroom if required.

Having reviewed these factors, the directors conclude that the going concern basis of accounting remains appropriate, with adequate resources available for at least twelve months from the date of these financial statements.

(c) Principles of consolidation

Subsidiaries

Subsidiaries are all entities (including structured entities) over which the Group has control. The Group controls an entity where the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Group. They are deconsolidated from the date that control ceases.

The acquisition method of accounting is used to account for business combinations by the Group.

Intercompany transactions, balances and unrealised gains on transactions between Group companies are eliminated. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group.

(d) Segment reporting

Operating segments are reported in a manner consistent with the internal reporting provided to the Group’s chief operating decision makers (CODMs) . The CODMs are the Chief Executive Officer and the Chief Financial Officer, who are responsible for assessing the financial performance and position of the Group and for making strategic decisions. Financial information is reviewed by geographic region, being Australia and Asia, and reported to the Board of Directors on a monthly basis. Accordingly, the Group has determined that it has two reportable operating segments: Australia and Asia.

(e) Foreign currency translation

(i) Functional and presentation currency

Items included in the financial statements of each of the Group's entities are measured using the currency of the primary economic environment in which the entity operates ('the functional currency') .

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025 (continued)

1 Summary of material accounting policies (continued)

(e) Foreign currency translation (continued)

(ii) Transactions and balances

Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation of monetary assets and liabilities denominated in foreign currencies at year end exchange rates are generally recognised in profit or loss.

Foreign exchange gains and losses are presented in the consolidated statement of profit and loss and other comprehensive income on a net basis within other income.

(iii) Group companies

The results and financial position of foreign operations (none of which has the currency of a hyperinflationary economy) that have a functional currency different from the presentation currency are translated into the presentation currency as follows:

assets and liabilities for each consolidated statement of financial position presented are translated at the closing rate at the date of that consolidated statement of financial position,
income and expenses for each consolidated income statement and consolidated statement of profit and loss and other comprehensive income are translated at average exchange rates (unless this is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the dates of the transactions), and
all resulting exchange differences are recognised in other comprehensive income.

On consolidation, exchange differences arising from the translation of any net investment in foreign entities, and of borrowings and other financial instruments designated as hedges of such investments, are recognised in other comprehensive income. When a foreign operation is sold or any borrowings forming part of the net investment are repaid, the associated exchange differences are reclassified to profit or loss, as part of the gain or loss on sale.

Goodwill and fair value adjustments arising on the acquisition of a foreign operation are treated as assets and liabilities of the foreign operation and translated at the closing rate.

(f) Revenue recognition

The core principle of AASB 15 is that revenue is recognised on a basis that reflects the transfer of promised goods or services to customers at an amount that reflects the consideration the Group expects to receive in exchange for those goods or services. Revenue is recognised by applying a five-step model as follows:

(1) Identify the contract with the customer
(2) Identify the performance obligations
(3) Determine the transaction price
(4) Allocate the transaction price to the performance obligations
(5) Recognise revenue as and when control of the performance obligations is transferred.

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025 (continued)

1 Summary of material accounting policies (continued)

(f) Revenue recognition (continued)

Specific revenue streams

The revenue recognition policies for the principal revenue streams of the Group are:

(i) Enterprise Resource Planning (ERP) solutions - JCurveERP and NetSuite

JCurveERP Edition - implementation of JCurveERP and JCurveERP software licenses

The Group enters into contracts with customers to implement and organise the transfer of JCurveERP licenses. The software requires substantial customisation to interface with the customer’s existing systems. Since this customisation can only be performed by a Group consultant due to the uniqueness of JCurveERP, it does not constitute a distinct performance obligation. Therefore, the sole performance obligation is delivering a functional and integrated software system. The transaction price is fixed and specified in the contract. Revenue is recognised over the project’s implementation period as the Group’s performance enhances an asset controlled by the customer. Revenue is recognised using an input method, based on the labour hours incurred to date as a percentage of total expected contracted hours, provided the Group can reasonably measure its progress towards fulfilling the performance obligation.

When JCurveERP licenses are renewed or additional licenses are sold after the implementation is complete, revenue is recognised at the point in time when the license is granted to the customer, as specified by the contract start date in the customer’s renewal contract.

NetSuite Edition - Reseller of software licenses

The Group is an authorised reseller of NetSuite software licenses. As the Group does not obtain control of these licenses, it acts as an agent in these arrangements. The NetSuite edition is not unique to the Group, and the implementation can be performed by multiple parties, making the license commission earned and the implementation process separate performance obligations. Commission revenue for the NetSuite edition licenses is recognised at a net amount, representing the commission earned, at the point in time when the customer provides NetSuite with a signed sales order.

Service revenue

The performance obligation for NetSuite edition implementations and service upsells for both JCurveERP and NetSuite edition customers is the delivery of contracted service hours. This obligation is satisfied progressively as services are delivered to the customer. The total contract revenue is fixed and specified in the signed contract. Revenue is recognised using an input method, based on the labour hours incurred to date as a percentage of the total expected contracted hours.

Support

Customers have the option to purchase support services at their stand-alone selling prices, for a fixed period of time. These additional support services, if purchased, are a separate performance obligation to the implementation and licenses and are recognised over time as the customer receives and consumes the benefit. Revenue is recognised using an output method, being the total days elapsed relative to the total contracted support period.

(ii) Jtel Next

The Group has contracts with customers to provide telephone expense management services at a fixed price, as defined in the contract. Revenue is recognised over time as the customer receives and consumes the benefit, using an output method based on the proportion of total days elapsed relative to the total contracted period.

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025 (continued)

1 Summary of material accounting policies (continued)

(f) Revenue recognition (continued)

(iii) Jcurve FSM

Subscription License Revenue

The Group offers Software-as-a-Service through its proprietary software, Jcurve FSM. Revenue is recognised over time as the customer receives and consumes the benefit through their use of the Jcurve FSM platform. Revenue is recognised using an output method, based on the proportion of total days elapsed relative to the total contracted period of use. For all sales, when consideration is received upfront, it is initially recognised as a contract liability and only recognised as revenue as or when the performance obligation is satisfied.

Service Revenue

For Jcurve FSM customers, the performance obligation is the delivery of contracted service hours. This obligation is satisfied progressively as services are delivered to the customer. The total contract revenue is fixed and specified in the signed contract. Revenue is recognised using an input method, based on the labour hours incurred to date as a percentage of the total expected contracted hours.

(g) Income tax

The income tax expense or credit for the year is the tax payable on the current year's taxable income based on the applicable income tax rate for each jurisdiction adjusted by changes in deferred tax assets and liabilities attributable to temporary differences and to unused tax losses.

The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the end of the reporting year in the countries where the Group entities operate and generate taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation and considers whether it is probable that a taxation authority will accept an uncertain tax treatment. The Group measures its tax balances either based on the most likely amount or the expected value, depending on which method provides a better prediction of the resolution of the uncertainty.

Deferred income tax is provided in full, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. However, deferred tax liabilities are not recognised if they arise from the initial recognition of goodwill. Deferred income tax is also not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit or loss and . Deferred income tax is determined using tax rates (and laws) that have been enacted or substantively enacted by the end of the reporting year and are expected to apply when the related deferred income tax asset is realised or the deferred income tax liability is settled.

Deferred tax assets are recognised only if it is probable that future taxable amounts will be available to utilise those temporary differences and losses.

Deferred tax assets and liabilities are offset where there is a legally enforceable right to offset current tax assets and liabilities and where the deferred tax balances relate to the same taxation authority. Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Current and deferred tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, the tax is also recognised in other comprehensive income or directly in equity, respectively.

Tax consolidation legislation

Jcurve Solutions Limited and its wholly-owned Australian controlled entities have implemented the tax consolidation legislation.

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025 (continued)

1 Summary of material accounting policies (continued)

(g) Income tax (continued)

Tax consolidation legislation (continued)

The head entity, Jcurve Solutions Limited, and the controlled entities in the tax consolidated Group account for their own current and deferred tax amounts. These tax amounts are measured as if each entity in the tax consolidated Group continues to be a stand alone taxpayer in its own right.

In addition to its own current and deferred tax amounts, Jcurve Solutions Limited also recognises the current tax liabilities (or assets) and the deferred tax assets arising from unused tax losses and unused tax credits assumed from controlled entities in the tax consolidated group.

The entities have also entered into a tax funding agreement under which the wholly-owned entities fully compensate Jcurve Solutions Limited for any current tax payable assumed and are compensated by Jcurve Solutions Limited for any current tax receivable and deferred tax assets relating to unused tax losses or unused tax credits that are transferred to Jcurve Solutions Limited under the tax consolidation legislation. The funding amounts are determined by reference to the amounts recognised in the wholly-owned entities' financial statements.

The amounts receivable/payable under the tax funding agreement are due upon receipt of the funding advice from the head entity, which is issued as soon as practicable after the end of each financial year. The head entity may also require payment of interim funding amounts to assist with its obligations to pay tax instalments.

Assets or liabilities arising under tax funding agreements with the tax consolidated entities are recognised as current amounts receivable from or payable to other entities in the Group.

Any difference between the amounts assumed and amounts receivable or payable under the tax funding agreement are recognised as a contribution to (or distribution from) wholly owned tax consolidated entities.

Jcurve Solutions Asia Pte Ltd is a tax resident entity of Singapore and current and deferred tax amounts are accounted for the company based on Jcurve Solutions Asia Pte Ltd as a taxpayer on a stand alone basis.

Jcurve Solutions Philippines Inc. is a tax resident entity of the Philippines and current and deferred tax amounts are accounted for the company based on Jcurve Solutions Philippines Inc. as a taxpayer on a stand alone basis.

Jcurve Solutions Thailand Co Ltd. is a tax resident entity of Thailand and current and deferred tax amounts are accounted for the company based on Jcurve Solutions Thailand Co Ltd. as a taxpayer on a stand alone basis.

(h) Leases

The Group leases buildings. Rental contracts are typically made for fixed periods of 12 to 60 months but may have extension options as described below.

Contracts may contain both lease and non-lease components. The Group allocates the consideration in the contract to the lease and non-lease components based on their relative stand-alone prices. However, for leases of real estate for which the Group is a lessee, it has elected not to separate lease and non-lease components and instead accounts for these as a single lease component.

Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. The lease agreements do not impose any covenants other than the security interests in the leased assets that are held by the lessor. Leased assets may not be used as security for borrowing purposes.

Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments:

fixed payments (including in-substance fixed payments), less any lease incentives receivable,
variable lease payment that are based on an index or a rate, initially measured using the index or rate as at the commencement date,
amounts expected to be payable by the Group under residual value guarantees,

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025 (continued)

1 Summary of material accounting policies (continued)

(h) Leases (continued)

the exercise price of a purchase option if the Group is reasonably certain to exercise that option, and

Lease payments to be made under reasonably certain extension options are also included in the measurement of the liability.

The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be readily determined, which is generally the case for leases in the Group, the lessee’s incremental borrowing rate is used, being the rate that the individual lessee would have to pay to borrow the funds necessary to obtain an asset of similar value to the right-of-use asset in a similar economic environment with similar terms, security and conditions.

To determine the incremental borrowing rate, the Group:

where possible, uses recent third-party financing received by the individual lessee as a starting point, adjusted to reflect changes in financing conditions since third-party financing was received,
uses a build-up approach that starts with a risk-free interest rate adjusted for credit risk for leases held by Jcurve Solutions Limited, which does not have recent third-party financing, and
makes adjustments specific to the lease, e.g. term, country, currency and security.

The Group is exposed to potential future increases in variable lease payments based on an index or rate, which are not included in the lease liability until they take effect. When adjustments to lease payments based on an index or rate take effect, the lease liability is reassessed and adjusted against the right-of-use asset.

Lease payments are allocated between principal and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period.

Right-of-use assets are measured at cost comprising the following:

the amount of the initial measurement of lease liability,
any lease payments made at or before the commencement date less any lease incentives received,
any initial direct costs, and
restoration costs.

Right-of-use assets are generally depreciated over the shorter of the asset's useful life and the lease term on a straight-line basis. If the Group is reasonably certain to exercise a purchase option, the right-of-use asset is depreciated over the underlying asset’s useful life.

Payments associated with short-term leases of all leases of low-value assets are recognised on a straight-line basis as an expense in profit or loss. Short-term leases are leases with a lease term of 12 months or less.

(i) Impairment of non-financial assets

Goodwill and intangible assets that have an indefinite useful life are not subject to amortisation and are tested annually for impairment, or more frequently if events or changes in circumstances indicate that they might be impaired. Other assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's fair value less costs of disposal and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash inflows which are largely independent of the cash inflows from other assets or groups of assets (cash-generating units) . Non-financial assets other than goodwill that suffered an impairment are reviewed for possible reversal of the impairment at the end of each reporting year.

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025

(continued)

1 Summary of material accounting policies (continued)

(j) Cash and cash equivalents

For the purpose of presentation in the consolidated statement of cash flows, cash and cash equivalents includes cash on hand, deposits held at call with financial institutions, other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.

(k) Contract assets

A contract asset is the right to receive consideration in exchange for services rendered to the customer. Contract assets are recognised to the extent that services have been rendered but not yet invoiced and at an amount that reflects the consideration to which the Group expects to be entitled in exchange for the services rendered. Contract assets are subject to impairment assessment.

(l) Trade and other receivables

Trade receivables are amounts due from customers for goods sold or services performed in the ordinary course of business. They are generally due for settlement within 30 days and are therefore all classified as current. Trade receivables are recognised initially at the amount of consideration that is unconditional unless they contain significant financing components, when they are recognised at fair value. The Group holds the trade receivables with the objective of collecting the contractual cash flows and therefore measures them subsequently at amortised cost using the effective interest method.

The Group applies the AASB 9 Financial Instruments simplified approach to measuring expected credit losses which uses a lifetime expected loss allowance for all trade receivables and contract assets.

To measure the expected credit losses, trade receivables and contract assets have been grouped based on shared credit risk characteristics and the days past due. The contract assets relate to unbilled work in progress and have substantially the same risk characteristics as the trade receivables for the same types of contracts. The Group has therefore concluded that the expected loss rates for trade receivables are a reasonable approximation of the loss rates for the contract assets.

Trade receivables are written off where there is no reasonable expectation of recovery.

Impairment losses on trade receivables are presented as net impairment losses within other expenses. Subsequent recoveries of amounts previously written off are credited against the same line item.

(m) Contract liabilities

Contract liabilities are recognised when a customer pays consideration, or when the Group recognises a receivable to reflect its unconditional right to consideration (whichever is earlier) , before the Group has transferred the goods or services to the customer. The liability is the Group's obligation to transfer goods or services to a customer from which it has received consideration.

(n) Intangible assets

(i) Goodwill

The Group initially measure goodwill on acquisition at cost, being the excess of the cost of the business combination over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities. Subsequently goodwill is carried at cost less any accumulated impairment losses. The Group tests goodwill for impairment on an annual basis, or more frequently if events or changes in circumstances indicate that it might be impaired, and if appropriate will write its value down when impaired refer 1(i) .

Goodwill is allocated to cash-generating units for the purpose of impairment testing. The allocation is made to those cash-generating units or groups of cash-generating units that are expected to benefit from the business combination in which the goodwill arose. The units or groups of units are identified at the lowest level at which goodwill is monitored for internal management purposes, being the operating segments (note 5).

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025 (continued)

1 Summary of material accounting policies (continued)

(n) Intangible assets (continued)

(ii) License

The licenses intangible asset reflects the carrying value of the unimpaired amount paid for the purchase of the exclusive reseller agreement with NetSuite for the JCurveERP edition of the NetSuite software. This agreement grants Jcurve Solutions exclusive selling rights for the JCurveERP edition of the NetSuite business software for an indefinite period. It was the foundation for Interfleet Pty Ltd to become a NetSuite partner when it became a NetSuite Solution Provider in August 2016. This agreement has been integral to the Company’s ERP practice.

The NetSuite JCurveERP reseller agreement stipulates that in the event of cancellation, Jcurve Solutions’ customers would be assigned to NetSuite. NetSuite would then be required to pay Jcurve Solutions a royalty of 30% of the future revenue stream to NetSuite for a three-year period. This, along with an increasing level of license commission and service revenue from the sale of NetSuite editions, indicates that impairment is unlikely in future periods.

(iii) Customer relationships

On 9 July 2021, Jcurve Solutions Asia Pte Ltd, a wholly-owned subsidiary of Jcurve Solutions Limited, purchased the business assets of Rapid E-Suite Pte Ltd’s Thailand operations, a NetSuite Solution Provider in Thailand. The purchase price was allocated to customer contracts and customer relationships. The customer contracts intangible asset is assessed as having a useful life of 2 years, while the customer relationships intangible asset is assessed as having a useful life of 7 years. Both assets are being amortised on a straight-line basis over their respective useful lives.

(iv) Capitalised development costs

During the fiscal year ended 30 June 2024, the Group capitalised development costs associated with our innovative projects, JTel Next and Quicta, reflecting our strategic commitment to portfolio optimisation and enhancing our technology offerings. This capitalisation aligns with our expectation of significant future economic benefits from these assets.

(v) Amortisation methods and useful lives

The Group amortises intangible assets with a limited useful life using the straight-line method over the following periods:

License 10 years
• Customer relationships 7 years
Capitalised development costs 5 years

(o) Trade and other payables

These amounts represent liabilities for goods and services provided to the Group prior to the end of financial year which are unpaid. The amounts are unsecured and are usually paid within 30 days of recognition. Where trade payables are settled via electronic cash transfer, they are derecognised when the Group has no ability to withdraw, stop or cancel the payment, has lost the practical ability to access the cash as a result of the electronic payment instruction, and the risk of a settlement not occurring is insignificant. Trade and other payables are presented as current liabilities unless payment is not due within 12 months from the reporting date. They are recognised initially at their fair value and subsequently measured at amortised cost using the effective interest method.

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025 (continued)

1 Summary of material accounting policies (continued)

(p) Employee benefits

(i) Short-term obligations

Liabilities for wages and salaries, including non-monetary benefits and accumulating sick leave that are expected to be settled wholly within 12 months after the end of the period in which the employees render the related service are recognised in respect of employees’ services up to the end of the reporting period and are measured at the amounts expected to be paid when the liabilities are settled. The liabilities are presented as current employee benefit obligations in the consolidated statement of financial position.

(ii) Other long-term employee benefit obligations

The liabilities for long service leave and annual leave are not expected to be settled wholly within 12 months after the end of the period in which the employees render the related service. They are therefore measured as the present value of expected future payments to be made in respect of services provided by employees up to the end of the reporting period using the projected unit credit method. Consideration is given to expected future wage and salary levels, experience of employee departures and periods of service. Expected future payments are discounted using market yields at the end of the reporting period of corporate bonds with terms and currencies that match, as closely as possible, the estimated future cash outflows. Remeasurements as a result of experience adjustments and changes in actuarial assumptions are recognised in profit or loss.

The obligations are presented as current liabilities in the consolidated statement of financial position if the entity does not have an unconditional right to defer settlement for at least twelve months after the reporting date, regardless of when the actual settlement is expected to occur.

(iii) Post-employment obligations

The Group pays contributions to publicly or privately administered defined contribution superannuation plans on a mandatory, contractual or voluntary basis. The Group has no further payment obligations once the contributions have been paid. The contributions are recognised as employee benefit expense when they are due. Prepaid contributions are recognised as an asset to the extent that a cash refund or a reduction in the future payments is available.

(iv) Share-based payments

Share-based compensation benefits are provided to employees via the The Employee Incentive Plan. Information relating to these schemes is set out in note 29.

Employee options

The fair value of options granted under the The Employee Incentive Plan is recognised as an employee benefits expense with a corresponding increase in equity. The total amount to be expensed is determined by reference to the fair value of the options granted:

including any market performance conditions (e.g. the entity’s share price),
excluding the impact of any service and non-market performance vesting conditions (e.g. profitability, sales growth targets and remaining an employee of the entity over a specified time year), and
including the impact of any non-vesting conditions (e.g. the requirement for employees to save or hold shares for a specific year of time).

The total expense is recognised over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied. At the end of each period, the entity revises its estimates of the number of options that are expected to vest based on the non-marketing vesting and service conditions. It recognises the impact of the revision to original estimates, if any, in profit or loss, with a corresponding adjustment to equity.

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025

(continued)

1 Summary of material accounting policies (continued)

(p) Employee benefits (continued)

(iv) Share-based payments (continued)

Employee share scheme

Under the employee share scheme, shares issued by the The Employee Incentive Plan to employees for no cash consideration vest immediately on grant date. On this date, the market value of the shares issued is recognised as an employee benefits expense with a corresponding increase in equity.

(q) Contributed equity

Ordinary shares are classified as equity.

Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds. Any dividends are discretionary and thereon are recognised as distributions within equity upon declaration by the directors.

(r) Dividends

Provision is made for the amount of any dividend declared, being appropriately authorised and no longer at the discretion of the entity, on or before the end of the reporting year but not distributed at the end of the reporting year.

(s) Goods and Services Tax (GST)

Revenues, expenses and assets are recognised net of the amount of associated GST, unless the GST incurred is not recoverable from the taxation authority. In this case it is recognised as part of the cost of acquisition of the asset or as part of the expense.

Receivables and payables are stated inclusive of the amount of GST receivable or payable. The net amount of GST recoverable from, or payable to, the taxation authority is included with other receivables or payables in the consolidated statement of financial position.

Cash flows are presented on a gross basis. The GST components of cash flows arising from investing or financing activities which are recoverable from, or payable to the taxation authority, are presented as operating cash flows.

(t) Parent entity financial information

The financial information for the parent entity, Jcurve Solutions Limited, disclosed in note 30 has been prepared on the same basis as the consolidated financial statements, except as set out below.

Investments in subsidiaries

Investments in subsidiaries are accounted for at cost in the financial statements of Jcurve Solutions Limited. Dividends received are recognised in the parent entity's profit or loss when its right to receive the dividend is established.

2 Financial risk management

The Group’s business activities exposes it to various financial risks, including market risk (foreign exchange, price, and interest rate risk) , credit risk, and liquidity risk. The Group’s risk management program focuses on minimising potential adverse effects on financial performance due to market unpredictability. The Group does not use derivative financial instruments but employs sensitivity analysis for interest rate and foreign exchange risks, and aging analysis for credit risk. Risk management is conducted by the CFO under policies approved by the board of directors, with close cooperation from senior management to identify, evaluate, and mitigate financial risks.

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025

(continued)

2 Financial risk management (continued)

The Group holds the following financial instruments:

Financial assets at amortised cost Cash and cash equivalents Trade and other receivables Other financial assets Financial liabilities at amortised cost Trade and other payables	2025 $ 2024 $ 1,369,052 1,596,275 1,425,997 1,349,010 33,353 218,180
	2,828,402 3,163,465
	790,269 747,195
	790,269 747,195

(a) Market risk

(i) Foreign exchange risk

Foreign exchange risk arises for us when future commercial transactions and recognised assets and liabilities are denominated in a currency other than the Australian dollar. The Group earns income in United States Dollar (“USD”).

Exposure

The Group’s material exposure to foreign currency risk at the end of the reporting period, expressed in Australian dollar, was as follows:

Cash and cash equivalents Trade and other receivables Trade and other payables The aggregate net foreign exchange gains/losses recognised in profit or loss were Net foreign exchange gain/(loss) included in other income	2025 2024 USD $ USD $ 56,836 89,727 259,336 189,149 (52,630) - : 2025 $ 2024 $ 17,649 (6,746)

The Group seeks to limit its exposure to foreign currency risk, by maintaining bank accounts with DBS Bank denominated in Singapore Dollars and Union Bank denominated in Philippines Peso and US Dollars, so that income received from Asian customers is deposited and held in the overseas currency without the need to translate in multiple currencies.

Sensitivity

A 5% strengthening/weakening in the Australian Dollar against the following currencies at reporting date would have increased/(decreased) profit or loss and equity by the amounts shown below.

This analysis assumes that all other variables, in particular interest rates, remain constant. The analysis is performed on the same basis for 2024.

The movement in other currencies are not material to us and consequently are not elaborated on any further.

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025 (continued)

2 Financial risk management (continued)

(a) Market risk (continued)

(i) Foreign exchange risk (continued)

Sensitivity (continued)

(i) Foreign exchange risk (continued) Sensitivity (continued)
	Impact on post-tax	profit
	2025	2024
	$	$
USD/AUD exchange rate - increase 5% (2024: 5%)	(13,175)	(13,945)
USD/AUD exchange rate - decrease 5% (2024: 5%)	13,175	13,945

(ii) Price risk

The Group is not exposed to equity securities or commodity price risk.

(iii) Interest rate risk

The Group’s exposure to cash flow interest rate risk arises mainly from cash and cash equivalents bearing variable interest rates. The Group’s surplus cash position fluctuates regularly, and most funds are kept in at-call accounts due to ongoing liquidity needs. It’s borrowings are not material, and lease liabilities are fixed rate instruments, not exposing us to fair value interest rate risk. At balance date, the Group maintained the following variable rate accounts:

Weighted average interest rate Cash and cash equivalents Deposits at call Balance Cash and cash equivalents Deposits at call	2025 2024 .73% 1.47% 3.90% 4.63% 2025 $ 2024 $ 1,369,052 1,596,275
	168,444 168,444

(b) Credit risk

Credit risk arises from cash and cash equivalents and contractual cash flows of debt instruments carried at amortised cost. The Group’s exposure to credit risk stems from potential counterparty default, with a maximum exposure equal to the carrying amount of these instruments. The Group does not use credit derivatives to offset this risk. Policies are in place to ensure that sales are made to customers with an appropriate credit history, and collateral is not typically obtained. The Group sets and regularly monitors risk limits for each customer in accordance with board-approved parameters.

Specific information as to the Group’s credit risk exposures is as follows:

Cash and cash equivalents are maintained at a large financial institution with high credit ratings.
During the 2025 year, the Group received significant commissions from NetSuite, which constitutes a substantial portion of our revenue and cash receipts. Refer to note 6 for further information.
At 30 June 2025 the Group’s largest customer and material debtor accounted for more than 10% of the total balance. The ten largest debtors comprised approximately 41% of total debtors (2024: 41%). These debtors are primarily from the private sector, reflecting our customer base in the software industry.

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025 (continued)

2 Financial risk management (continued)

(b) Credit risk (continued)

Customers typically lack independent credit ratings. The Group evaluates customer credit quality based on financial position, historical data, and other relevant factors. Risk limits are set individually, guided by internal assessments and market intelligence, within board-approved parameters. The credit management department regularly ensures compliance with these limits. Upfront payment is generally sought for all revenue streams; however, it is mandatory before the commencement of system implementation for new clients.
Management believes the credit quality of the Group’s customer base is high based on the very low level of bad debt write-offs experienced historically. In 2025 total bad debt write-offs as a percent of the trade receivables arrying amount as at 30 June 2025 was 0.00% (2024: 0.00%).

Trade receivables and contract assets

The Group applies the AASB 9 simplified approach to measuring expected credit losses which uses a lifetime expected loss allowance for all trade receivables and contract assets.

30 June 2025	Current	More than 30 days past due	More than 60 past due	More than 90 past due	More than 120 days past due	Total
Expected loss rate Trade receivables Credit loss allowance Past due not impaired*	0.30% 699,062 2,074 -	1.21% 314,526 3,800 310,726	7.72% 87,034 6,715 80,320	12.26% 105,189 12,893 92,296	54.56% 146,190 79,768 66,422	1,352,001 105,250 549,764

Approximately 50% of the overdue balance was settled after year end. The majority of the overdue balance is due from a key software supplier.

30 June 2024	Current	More than 30 days past due	More than 60 past due	More than 90 past due	More than 120 days past due	Total
Expected loss rate Trade receivables Credit loss allowance Past due not impaired	1.26% 1,085,987 13,728 -	2.82% 88,854 2,503 86,351	4.03% 62,695 2,525 60,170	10.24% 15,925 1,631 14,295	15.32% 26,618 4,078 22,540	1,280,079 24,465 183,356

For trade receivables that are past due, each customer’s account has been placed on hold where deemed necessary until full payment is made.

The loss allowances for trade receivables as at 30 June reconcile to the opening loss allowances as follows:

Opening loss allowance as at Increase in loss allowance recognised in profit or loss during the year Unused amount reversed Currency translation differences Closing loss allowance at 30 June	2025 $ 2024 $ 24,465 77,897 80,094 - - (53,432) 691 -
	105,250 24,465

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025 (continued)

2 Financial risk management (continued)

(c) Liquidity risk

Prudent liquidity risk management involves maintaining sufficient cash and access to committed credit facilities. The Group ensures flexibility in funding by keeping committed credit lines available. Liquidity risk is managed by monitoring cash flows and maintaining adequate cash and unused borrowing facilities.

At reporting date the Group had used $nil (2024: $nil) of the working capital facility and had access to an undrawn working capital facility of $1,000,000 at the reporting date. The facility decreased to $750,000 on 31 July 2025. This enhancement provides additional financial flexibility to support ongoing business operations and growth initiatives.

(i) Maturities of financial liabilities

The table below categorises the Group’s financial liabilities into relevant maturity groups based on their contractual maturities, calculated as their undiscounted cash flows. All the financial liabilities are non-derivative and measured at amortised cost.

Contractual maturities of financial liabilities at 30 June 2025 Trade and other payables Lease liabilities Total 30 June 2024 Trade and other payables Lease liabilities Total	Less than 1 year Between 1 and 2 years Total contractual cash flows Carrying amount (assets)/ liabilities $ $ $ $ 790,269 - 790,269 790,269 137,852 - 137,852 135,319
	928,121 - 928,121 925,588
	Less than 1 year Between 1 and 2 years Total contractual cash flows Carrying amount (assets)/ liabilities $ $ $ $ 747,195 - 747,195 747,195 553,344 147,186 700,530 665,346
	1,300,539 147,186 1,447,725 1,412,541

The carrying amounts of financial assets (net of any provision for impairment) and current financial liabilities approximate fair value primarily because of their short maturities. The carrying amount of the non-current receivables approximates fair value because the interest rate applicable to the receivables approximates current market rates.

3 Capital management

When managing capital (equity) , the board’s objectives are to ensure the Group continues as a going concern as well as to maintain optimal returns to shareholders and benefits for other stakeholders. The board adjusts the capital structure as necessary to take advantage of favourable costs of capital or high returns on assets. As the market is constantly changing, the board may change the amount of dividends to be paid to shareholders, return capital to shareholders, issue new shares or reduce debt that may be incurred to acquire assets.

During 2025, the Board paid no dividends (2024: $574,601) . The Board has carefully reviewed the current market conditions and the Group’s funding requirements. As a result of this review, the Board has determined that it will not declare dividends in the foreseeable future. This decision is aligned with our strategic focus on reinvesting earnings to support the longterm growth and sustainability of the business.

The Group is not subject to any externally imposed capital requirements

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025 (continued)

4 Critical estimates and judgements

The preparation of financial statements in conformity with IFRS requires management to make judgements, estimates and assumptions that may affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgements about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision only affects that period, or in the period of the revision and future periods if the revision affects both current and future periods. Judgements made by management in the application of IFRS that have a significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are disclosed in the following notes:

recognition of revenue and allocation of purchase price (note 1(f)). This includes critical judgements related to determining whether the company acts as a principal or an agent in transactions.
income tax determination in relation to assets and liabilities (note 1(g))
trade receivables, expected credit losses (note 1(l))
recognition, recoverability and amortisation of intangible assets (note 1(n))
estimation uncertainties and judgements made in relation to lease accounting (note 1(h))
going concern assessment (note 1(b))

5 Segment information

An operating segment is a component of the Group that engages in business activities from which it may earn revenues and incur expenses, including revenues and expenses that relate to transactions with any of the other components. The Group’s business is conducted in Australia, New Zealand, Singapore, Thailand and the Philippines. The Group’s Chief Operating Decision-Maker makes financial decisions and allocates resources based on the information it receives from it’s internal management system. The Chief Operating Decision-Maker, who is responsible for allocating resources and assessing performance of the operating segments, has been identified as the Board of Directors and Executive Management Team of Jcurve Solutions.

In addition to revenue, segment results are reported to the Chief Operating Decision-Maker with two measures of profitability:

Operating profit (“Operating Income”); and
Earnings before interest, tax, depreciation, amortisation and normalisation items (“Normalised EBITDA”).

Jcurve Solutions sells a portfolio of solutions and derives its revenues and profits from a variety of sources.

Description of segments and principal activities

The Chief Operating Decision-Maker for the year ended 30 June 2025, considered the business from a product perspective and identified three reportable segments, summarised and described below:

Jcurve Products

(i) Jcurve ERP Edition - Subscription fees earned from selling licenses for JCurve ERP software, a cloud-based ERP solution designed to meet the needs of small and medium-sized enterprises in Australia.
(ii) Support - Consulting and professional support for NetSuite and JCurve ERP.
(iii) Jtel Next (Previously TEMS) - Cloud-based platform that allows customers to manage multiple carriers across mobile, PABX, fixed line, and IP for managing telecom expenses.

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025 (continued)

5 Segment information (continued)

Description of segments and principal activities (continued)

(iv) Jcurve FSM (Previously Quicta) - Jcurve FSM is a cloud based platform that provides scheduling and rostering solutions with the capability to allocate and communicate with field based resources.

Resold products

(i) NetSuite Edition - Reseller of software licenses - Commissions are earned based on NetSuite’s tiered partner system, which ranks partners by their Annual Recurring Revenue (ARR) and customer growth. The tiers range from 0 to 4, with higher tiers corresponding to greater growth and higher commission rates.

Services

(i) Services - Consulting and professional fees earned whilst implementing ERP solutions.

The measures presented below are those that The Chief Operating Decision-Maker of the Group monitors on an ongoing basis. This provides more insight into revenue, earnings before interest, tax, depreciation and amortisation before normalised items (Normalised EBITDA), operating profit before capital items and depreciation disclosed in the statement of comprehensive income.

The segment revenues, earnings before interest, tax, depreciation and amortisation before normalised items (Normalised EBITDA) and operating profit generated by each of the Group’s segments are summarised as follows:

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025 (continued)

5 Segment information (continued)

A Jcurve products Resold products Services Total revenue w Jcurve products Resold products Services Total cost of revenue Gross Profit w Other income Employee benefits Shared costs and other EBITDA b Depreciation and amortisation Impairment Finance costs b Total Expenses w Profit/(loss) before tax w Tax expense Profit/(loss) for the year w	ANZ Asia Corporate Total
	2025 2024 2025 2024 2025 2024 2025 2024
	5,570,732 4,786,816 397,801 400,223 - - 5,968,533 5,187,039 2,691,847 3,275,790 413,241 1,054,823 - - 3,105,088 4,330,613 1,333,846 2,015,361 936,227 1,205,919 2,270,073 3,221,280
	9,596,425 10,077,967 1,747,269 2,660,965 - - 11,343,694 12,738,932
	(1,255,672) (1,264,677) (122,910) (235,610) (1,378,582) (1,500,287) (250,007) (311,297) (139,768) (86,029) - - (389,775) (397,326) (500,913) (924,766) (462,241) (802,980) - - (963,154) (1,727,746)
	(2,006,592) (2,500,740) (724,919) (1,124,619) - - (2,731,511) (3,625,359)
	7,589,833 7,577,227 1,022,350 1,536,346 - - 8,612,183 9,113,573 - - - - 190,702 31,030 190,702 31,030 (4,254,599) (3,948,584) (2,089,607) (1,958,810) (897,071) (945,833) (7,241,277) (6,853,227) (558,600) (1,552,431) (505,089) (1,519,958) - 132,152 (1,063,689) (2,940,237)
	2,776,634 2,076,212 (1,572,346) (1,942,422) (706,369) (782,651) 497,919 (648,861)
	(334,623) (267,666) (204,600) (443,700) (339,106) (277,578) (878,329) (988,944) - - - (264,987) - - - (264,987) (12,703) (34,327) (6,787) 306 (21,623) 2,709 (41,113) (31,312)
	(7,167,117) (8,303,748) (3,531,002) (5,311,768) (1,067,098) (1,057,520) (11,765,217) (14,673,036)

	2,429,308 1,774,219 (1,783,733) (2,650,803) (1,067,098) (1,057,520) (421,523) (1,934,104)
	(238,247) (224,478) (238,247) (224,478)
	2,429,308 1,774,219 (1,783,733) (2,650,803) (1,305,345) (1,281,998) (659,770) (2,158,582)

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025 (continued)

6 Revenue from contracts with customers

6 Revenue from contracts with customers
Commission earned JCurve ERP license subscriptions Other third party licenses Support Services Total ERP solutions Jtel Next Field service management Dygiq Total revenue*	2025 $ 2024 $ 3,081,042 4,149,545 3,424,721 2,913,340 127,812 105,051 1,404,138 1,356,220 2,160,551 2,629,098
	10,198,264 11,153,254 852,706 934,109 292,724 255,754 - 395,815
	11,343,694 12,738,932

Revenue from commissions earned, comprising 27% of total revenue (2024: 33%), is derived from a single customer.

(a) Assets and liabilities related to contracts with customers

The Group has recognised the following assets and liabilities related to contracts with customers:

Accrued revenue Deferred expenditure Total contract assets ERP solutions Jtel Next Field service management Total non-current contract liabilities b ERP solutions Jtel Next Field service management Total current contract liabilities blank Total contract liabilities	2025 $ 2024 $ 424,267 206,578 - 1,309
	424,267 207,887
	239,221 210,981 69,682 28,080 44,602 1,870
	353,505 240,931
	1,900,341 1,616,787 84,000 140,861 17,017 106,540
	2,001,358 1,864,188
	2,354,863 2,105,119

(i) Significant changes in contract assets and liabilities

Contract assets have increased, because the Group has provided greater services ahead of the agreed payment schedules for fixed-price contracts. The group also recognised a loss allowance for contract assets in accordance with AASB 9, see note 2(b) for further information.

Contract liabilities for consulting contracts have increased due to the negotiation of larger prepayments and an increase in overall contract activity.

(ii) Revenue recognised in relation to contract liabilities

The following table shows how much of the revenue recognised in the current reporting period relates to carried-forward contract liabilities.

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025

(continued)

6 Revenue from contracts with customers (continued)

(a) Assets and liabilities related to contracts with customers (continued)

(ii) Revenue recognised in relation to contract liabilities (continued)

Total contract liabilities at the beginning of the year Revenue recognised that was included in the contract liability balance at the beginning of the year Contract liabilities recognised during the current year for new projects Total contract liabilities at the end of the year	2025 $ 2024 $ 2,105,119 3,508,685 (1,858,284) (3,054,415) 2,108,028 1,650,849
	2,354,863 2,105,119

The closing balance represents new contracts where the performance obligations have not yet been met by year-end. The current portion of contract liabilities is expected to be recognised as revenue in the next financial year. Contract liabilities mainly arise from customer prepayments for goods or services yet to be delivered. These liabilities are primarily related to contracts where revenue is recognised at a point in time, usually within one to three years.

7 Breakdown of expenses

7 Breakdown of expenses
Sales and marketing Product design and development b IT and communications expenses Insurance Other income Other expenses Employee benefits expense Directors' Fees (includes superannuation) Professional fees General and administration Depreciation of plant and equipment Depreciation of right of use asset Amortisation of intangibles Depreciation and amortisation expense Impairment of goodwill Depreciation, amortisation and impairment expense	2025 $ 2024 $ (3,575,278) (3,142,579)
	(315,562) (478,294)
	(370,409) (507,912) (213,056) (259,148) 149,305 - (294,247) (482,349) (2,703,450) (4,205,960) (317,960) (324,729) (473,607) (361,463)
	(4,223,424) (6,141,561)
	(17,850) (82,490) (491,701) (540,267) (368,778) (366,196)
	(878,329) (988,953) - (264,987)
	(878,329) (1,253,940)

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025 (continued)

8 Finance costs

	2025	2024
	$	$
Interest and finance charges	(25,619)	(7,794)
Provisions: unwinding of discount	(6,439)	(5,686)
Interest expense for lease liabilities	(19,898)	(37,024)
Finance costs expensed	(51,956)	(50,504)
9 Income tax expense
(a) Income tax expense
	2025	2024
	$	$
Current tax
Current tax on profits for the year	-	387,399
Adjustments for current tax of prior periods	-	1,250
Total current tax expense	-	388,649
Deferred income tax
Decrease in deferred tax assets (note 15)	363,351	249,233
Decrease in deferred tax liabilities (note 18)	(189,993)	(413,404)
Adjustments for deferred tax of prior periods	64,889	-
Total deferred tax expense/(benefit)	238,247	(164,171)
Income tax expense	238,247	224,478
(b) Numerical reconciliation of income tax (benefit)/expense to prima	facie tax payable
	2025	2024
	$	$
Loss before income tax expense	(421,523)	(1,934,104)
Tax at the Australian tax rate of 25% (2023: 25%)	(105,381)	(483,526)
Tax effect of amounts which are not deductible (taxable)
in calculating taxable income:
Sundry items	(96,638)	90,661
Subtotal	(202,019)	(392,865)
Difference in overseas tax rates	28,002	56,963
Tax losses not recognised	347,375	504,972
Previously recognised tax losses no longer recognised	-	54,158
Adjustments for current tax of prior periods	64,889	1,250
Income tax expense	238,247	224,478

(a) Income tax expense

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025

(continued)

9 Income tax expense (continued)

(c) Tax losses

(c) Tax losses
	2025	2024
	$	$
Unused tax losses for which no deferred tax asset has been recognised	2,764,234	3,094,444
Potential tax benefit at local tax rate	513,204	398,097
The unused tax losses were incurred by a subsidiary that is not likely to generate taxable income in		the
foreseeable future, and they can be carried forward indefinitely. See note 2 for information about recognised tax
losses and related significant judgements applied.

10 Cash and cash equivalents

10 Cash and cash equivalents
	2025	2024
	$	$
Cash at bank and on hand	1,369,052	1,596,275
Cash at bank earns interest at floating rates based on daily bank deposit rates.
At 30 June 2025, the Group has an available working capital facility of $1,000,000	(2024: $500,000).

11 Trade and other receivables

Financial assets at amortised cost Trade receivables Loss allowance Other receivables Term deposits Non-financial assets Prepayments Other receivables GST receivables Total trade and other receivables	2025 $ 2024 $ 1,352,001 1,280,079 (105,250) (24,465)
	1,246,751 1,255,614 10,802 93,396 168,444 -
	1,425,997 1,349,010
	121,238 275,057 3,946 3,903 16,184 7,918
	141,368 286,878
	1,567,365 1,635,888

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025

(continued)

12 Other financial assets

12 Other financial assets
Rental bond Term deposits	2025 $ 2024 $ 33,353 49,736 - 168,444
	33,353 218,180

13 Leases

This note provides information for leases where the Group is a lessee.

(a) Amounts recognised in the consolidated statement of financial position

The consolidated statement of financial position shows the following amounts relating to leases:

Right-of-use assets Buildings Lease liabilities Current Non-current	2025 $ 2024 $ 118,116 597,614
	118,116 597,614
	2025 $ 2024 $ 135,319 533,807 - 131,539
	135,319 665,346

Additions to the right-of-use assets during the 2025 financial year were $nil (2024: $57,329).

Modifications to the right-of-use assets during the 2025 financial year were $12,203 (2024: $nil).

Terminations to leases resulting in a reduction in the right-of-use assets in 2025 financial year were $nil (2024: $141,635).

Future lease payments in relation to lease liabilities as at year end are as follows:

Within one year Later than one year but not later than five years	2025 $ 2024 $ 137,582 553,344 - 147,186
	137,582 700,530

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025 (continued)

13 Leases (continued)

(b) Amounts recognised in the consolidated statement of profit or loss and other comprehensive income

The consolidated statement of profit and loss and other comprehensive income shows the following amounts relating to leases:

relating to leases:
Depreciation charge of right-of-use assets Buildings Office equipment Interest expense (included in finance cost) Expense relating to short-term leases (included in general and administration expenses)	2025 $ 2024 $ 491,701 520,059 - 20,208
	491,701 540,267
	19,898 37,024 7,556 12,393

The total cash outflow for leases in terms of principal and interest during 2025 was $542,245 (2024: $341,280).

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025 (continued)

14 Intangible assets

At 1 July 2023 Cost Accumulated amortisation and impairment Net book amount Year ended 30 June 2024 Opening net book amount Additions Amortisation charge Impairment charge Translation of foreign operations Closing net book amount At 30 June 2024* Cost Accumulated amortisation and impairment Net book amount	Goodwill $ Licenses $ Customer relationships $ Internally developed products - Jtel Next $ Internally developed products - Jcurve FSM $ Other software $ Total $ 10,596,500 3,100,000 683,695 - - 4,122,378 18,502,573 (10,334,965) (1,065,810) (419,684) - - (4,095,569) (15,916,028)
	261,535 2,034,190 264,011 - - 26,809 2,586,545
	261,535 2,034,190 264,011 - - 26,809 2,586,545 - - - 118,574 372,938 - 491,512 - (230,285) (114,162) - - (21,749) (366,196) (264,987) - - - - - (264,987) 3,452 - 3,857 - - (5,060) 2,249
	- 1,803,905 153,706 118,574 372,938 - 2,449,123
	10,593,913 3,100,000 666,069 118,574 372,938 4,117,318 18,968,812 (10,593,913) (1,296,095) (512,363) - - (4,117,318) (16,519,689)
	- 1,803,905 153,706 118,574 372,938 - 2,449,123

During the ended 30 June 2024, the Group capitalised development costs associated with our innovative projects, JTel Next and Jcurve FSM, reflecting our strategic commitment to portfolio optimisation and enhancing our technology offerings. This capitalisation aligns with our expectation of significant future economic benefits from these assets.

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025 (continued)

14 Intangible assets (continued)

At 30 June 2024 Cost Accumulated amortisation and impairment Net book amount Year ended 30 June 2025 Opening net book amount Additions Amortisation charge Translation of foreign operations Closing net book amount At 30 June 2025 Cost Accumulated amortisation and impairment Net book amount	Goodwill $ Licenses $ Customer relationships $ Internally developed products - Jtel Next $ Internally developed products - Jcurve FSM $ Other software $ Total $ 10,593,913 3,100,000 666,069 118,574 372,938 4,117,318 18,968,812 (10,593,913) (1,296,095) (512,363) - - (4,117,318) (16,519,689)
	- 1,803,905 153,706 118,574 372,938 - 2,449,123
	- 1,803,905 153,706 118,574 372,938 - 2,449,123 - - - - 345,227 - 345,227 - (230,286) (40,190) (23,715) (74,587) - (368,778) - - 12,293 - - - 12,293
	- 1,573,619 125,809 94,859 643,578 - 2,437,865
	10,593,913 3,100,000 717,643 118,574 718,165 - 15,248,295 (10,593,913) (1,526,381) (591,834) (23,715) (74,587) - (12,810,430)
	- 1,573,619 125,809 94,859 643,578 - 2,437,865

During the ended 30 June 2024, the Group capitalised development costs associated with our innovative projects, JTel Next and Jcurve FSM, reflecting our strategic commitment to portfolio optimisation and enhancing our technology offerings. This capitalisation aligns with our expectation of significant future economic benefits from these assets.

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025 (continued)

15 Deferred tax assets

					2025	2024
					$	$
The balance comprises temporary		differences attributable to:
Deferred expenditure					-	116,747
Lease liabilities					24,964	166,336
Accruals and provisions					208,325	820,910
Intangible assets					214,647	-
Tax losses available to offset against		future taxable	income		421,753	232,296
Total deferred tax assets					869,689	1,336,289
	Deferred	Lease	Accruals and	Intangible
	expenditure	liabilities	provisions	assets	Tax losses	Total
Movements	$	$	$	$	$	$
At 1 July 2023	242,786	251,657	817,176	-	273,903	1,585,522
(Charged)/credited
- to profit or
loss	(126,039)	(85,321)	3,734	-	(41,607)	(249,233)
At 30 June 2024	116,747	166,336	820,910	-	232,296	1,336,289
-
At 1 July 2024	116,747	166,336	820,910	-	232,296	1,336,289
(Charged)/credited
- to profit or
loss	(116,747)	(79,116)	(612,460)	339,385	105,587	(363,351)
- adjustments
for prior
periods	-	(62,256)	(125)	(124,738)	83,870	(103,249)
At 30 June 2025	-	24,964	208,325	214,647	421,753	869,689

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025 (continued)

16 Trade and other payables

16 Trade and other payables
Financial liabilities at amortised cost Trade payables Accrued expenses Other payables Non-financial liabilities GST payable Payroll tax and other statutory liabilities Employee related liabilities Total trade and other payables	2025 $ 2024 $ 528,217 548,500 247,023 185,507 15,029 13,188
	790,269 747,195
	167,869 140,091 710,054 202,269 89,886 266,105
	967,809 608,465
	1,758,078 1,355,660

17 Provisions

17 Provisions
Employee benefits (a) Make good provision (b)	2025 2024 Current $ Non- current $ Total $ Current $ Non- current $ Total $ 383,888 32,701 416,589 377,168 75,371 452,539 75,066 - 75,066 - 68,627 68,627
	458,954 32,701 491,655 377,168 143,998 521,166

(a) Information about individual provisions

(a) Leave obligations

The leave obligations cover the Group’s liabilities for long service leave and annual leave which are classified as either other long-term benefits or short-term benefits, as explained in note 1(p).

(b) Make good provision

The Group is required to restore the leased premises to their original condition at the end of the respective lease terms. A provision has been recognised for the present value of the estimated expenditure required to remove any leasehold improvements. These costs have been capitalised as part of the cost of leasehold improvements and are amortised over the shorter of the term of the lease and the useful life of the assets.

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025 (continued)

17 Provisions (continued)

(b) Movements in provisions

Movements in provisions other than employee benefits are as follows:

Make a good provisions Carrying amount at start of year Charged/(credited) to profit or loss - unwinding of discount Carrying amount at end of year	2025 $ 2024 $ 68,627 62,941 6,439 5,686
	75,066 68,627

(c) Amounts recognised in profit and loss in relation to defined contribution plans

The Group has recognised expenses of $437,854 in the current period (2024: $436,576) in relation to defined contribution plans which are included in employee benefit expenses in the consolidated statement of profit and loss and other comprehensive income.

18 Deferred tax liabilities

						2025	2024
						$	$
The balance comprises		temporary differences attributable to:
Property, plant and equipment						-	16,604
Deferred license revenue						682,084	518,152
Right-of-use assets						20,914	504,094
Other						166,691	59,192
						869,689	1,098,042
		Property,	Deferred
		plant and	license	Right-of-use	Intangible
		equipment	revenue	assets	assets	Other	Total
Movements		$	$	$	$	$	$
At	1 July 2023	15,630	918,454	525,170	-	52,192	1,511,446
Charged/(credited)
	- profit or loss	974	(400,302)	(21,076)	-	7,000	(413,404)
At	30 June 2024	16,604	518,152	504,094	-	59,192	1,098,042
-
At	1 July 2024	16,604	518,152	504,094	-	59,192	1,098,042
Charged/(credited)
	- profit or loss	(16,604)	155,556	(436,366)	-	107,421	(189,993)
	- adjustments for prior
	periods	-	8,376	(46,814)	-	78	(38,360)
At	30 June 2025	-	682,084	20,914	-	166,691	869,689

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025

(continued)

19 Contributed equity

(a) Share capital

Ordinary shares Ordinary shares - issued and fully paid Other paid in capital	2025 Shares 2024 Shares 2025 $ 2024 $ 330,343,439 328,343,439 17,432,861 17,380,969 - - 205,357 205,357
	330,343,439 328,343,439 17,638,218 17,586,326

(b) Movements in ordinary shares:

Details Opening balance 1 July 2023 Balance 30 June 2024 Opening balance 1 July 2024 Employee share scheme issues Balance 30 June 2025	Number of shares Total $ 328,343,439 17,380,969
	328,343,439 17,380,969 328,343,439 17,380,969 2,000,000 51,892
	330,343,439 17,432,861

(c) Ordinary shares

Ordinary shares entitle the holder to participate in dividends and the proceeds on winding up of the Company in proportion to the number of and amounts paid on the shares held.

On a show of hands every holder of ordinary shares present at a meeting in person or by proxy, is entitled to one vote, and on a poll each share is entitled to one vote.

Ordinary shares have no par value and the Company has an unlimited amount of authorised capital. Subject to legislative requirements, the directors control the issue of shares in the Company.

(d) Share rights

See note 29.

20 Other reserves

The following table shows a breakdown of the consolidated statement of financial position line item ‘other reserves’ and the movements in these reserves during the year. A description of the nature and purpose of each reserve is provided below the table.

Share-based payments Foreign currency translation Capital reserve	2025 $ 2024 $ 99,063 55,966 (330,484) (119,922) 1,723,013* 1,723,013
	1,491,592 1,659,057

Restated - see (ii) for further information

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025

(continued)

20 Other reserves (continued)

20 Other reserves (continued)
Movements: Share-based payments Opening balance Share-based payment transactions Issue of shares to employees Balance 30 June Foreign currency translation Opening balance Currency translation differences arising during the year Balance 30 June b Capital reserve Opening balance Balance 30 June	2025 $ 2024 $ 55,966 - 94,989 55,966 (51,892)* -
	99,063 55,966
	(119,922) (342,720) (210,562) 222,798
	(330,484) (119,922)
	1,723,013 1,723,013
	1,723,013 1,723,013

(i) Nature and purpose of other reserves

Share-based payments

The share-based payments reserve is used to recognise the expense for shares and options granted to employees of the Group.

Foreign currency translation

Exchange differences arising on translation of the foreign controlled entities are recognised in other comprehensive income as described in note 1(e) and accumulated in a separate reserve within equity. The cumulative amount is reclassified to profit or loss when the net investment is disposed of.

Capital reserve

This reserve represents the accumulated capital surplus, created out of capital profit, such as the upward revaluation of its assets to reflect their current market value after appreciation or profits on the sale of assets.

Reclassification of foreign currency translation movement

During the year, the group identified a misclassification between foreign exchange gains and losses recognised in accumulated losses and foreign currency translation reserve movements recognised through other comprehensive income. This led to discrepancies in the opening balances of other reserves and accumulated losses.

To rectify this, the comparative figures as of 30 June 2023 have been restated by reclassifying $78,493 from other reserves to accumulated losses. Similarly, reclassification adjustments were made totaling $332,522 as of 1 July 2023. $254,029 of unrealised foreign exchange differences on monetary items previously recorded in foreign currency translation reserve/other comprehensive income have been reclassified to profit or loss; this is a non-cash correction that reduces foreign currency translation reserve and increases the reported loss for the prior year.

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025 (continued)

20 Other reserves (continued) (i) Nature and purpose of other reserves (continued) Reclassification of foreign currency translation movement (continued) Consolidated statement of profit and loss and other comprehensive income Loss for the year as previously reported Adjustment to unrealised foreign exchange differences Revised loss for the year 21 Dividends	2024 $ (1,904,553) (254,029)
	(2,158,582)

(a) Ordinary shares

(a) Ordinary shares
	2025	2024
	$	$
Final dividends	-	574,601
(b) Franking dividends
The final dividends recommended after 30 June 2025 will be fully franked out of existing	franking credits,	or out of
franking credits arising from the payment of income tax in the year ending 30 June 2026.

	2025	2024
	$	$
Franking credits available for subsequent reporting periods based on a tax rate of
25% (2024: 25%)	1,271,607	1,110,483

The above amounts are calculated from the balance of the franking account as at the end of the reporting year, adjusted for franking credits and debits that will arise from the settlement of liabilities or receivables for income tax and dividends after the end of the year.

22 Remuneration of auditors

During the year the following fees were paid or payable for services provided by the auditor of the parent entity, Jcurve Solutions Limited, its related practices and non-related audit firms:

(a) Audit and other assurance services

Audit and review of financial statements Previous auditor Group (Grant Thornton Audit Pty Ltd) Controlled entities (network firms of Grant Thornton Audit Pty Ltd) Current auditor Group (LNP Audit and Assurance Pty Ltd) Total services provided by Group auditor	2025 $ 2024 $ - 56,750 - 8,115 148,456 118,000
	148,456 182,865

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025

(continued)

22 Remuneration of auditors (continued)

(b) Other auditors

Audit and review of financial statements Controlled entities Total services provided by other auditor	2025 $ 2024 $ 45,789 15,788
	45,789 15,788

23 Contingencies

There were no contingent liabilities at the end of 30 June 2025 (2024: $nil).

24 Commitments

The Group had no commitments at 30 June 2025 (2024: $nil).

25 Related party transactions

(a) Subsidiaries

Interests in subsidiaries are set out in note 26.

(b) Key management personnel compensation

Short-term employee benefits (including change in current employment provisions) Share-based compensation (long-term employee benefits) Change in non-current employment provisions (long-term employee benefits) Post-employment benefits Total key management personnel compensation	2025 $ 2024 $ 825,686 1,388,669 90,897 55,966 - (13,104) 71,385 81,789
	987,968 1,513,320

The short-term benefits disclosed above include $132,000 (2024: $98,012) of bonuses payable under a short-term incentive scheme which were unpaid as at year end and are included in payroll tax and other statutory liabilities in note 16. In addition, the leave obligations disclosed in note 17 include $22,518 (2024: $57,229) of obligations payable to the key management personnel (KMP).

The following table shows the rights granted and outstanding at the beginning and end of the reporting period in relation to key management personnel:

		2025	2024
	Fair value per	Number of share	Fair value per	Number of
	right	rights	right	share rights
As at 1 July	-	18,000,000	-	-
Granted during the year	$0.0044	7,000,000	$0.0116	18,000,000
As at 30 June	$0.0044	25,000,000	-	18,000,000

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025 (continued)

26 Interests in other entities

The Group’s subsidiaries at 30 June 2025 are set out below. Unless otherwise stated, they have share capital consisting solely of ordinary shares that are held directly by the Group, and the proportion of ownership interests held equals the voting rights held by the Group. The country of incorporation or registration is also their principal place of business.

	Place of
	business/
	country of	Ownership interest	held
Name of entity	incorporation	by the Group
		2025	2024
		%	%
Jcurve Business Software Pty Ltd	Australia	100	100
Fleet Manager Pty Ltd	Australia	100	100
Phoneware Pty Ltd	Australia	100	100
Interfleet Pty Ltd	Australia	100	100
The Full Circle Group Pty Ltd	Australia	100	100
JCS Tech Solutions Pty Ltd	Australia	100	100
Jcurve Solutions Asia Pte Ltd	Singapore	100	100
Jcurve Mobile Services Pty Ltd	Australia	100	100
Jcurve Solutions Philippines Inc	Philippines	100	100
Rapid Software Soluitons Pte. Ltd - Previously called Riyo Tech
Solutions Pte Ltd	Singapore	100	100
Sumptuous Tech Holdings Pte Ltd	Singapore	100	100
Jcurve Solutions Thailand Co., Ltd	Thailand	100	100

27 Cash flow information

Reconciliation of loss after income tax to net cash outflow from operating activities

Loss for the year Adjustments for: Depreciation and amortisation Amortisation of right-of-use asset Loss on disposal of property, equipment and software Non-cash employee benefits expense - share-based payments Other Change in operating assets and liabilities Exchange differences Change in operating assets and liabilities: Decrease in receivables (Increase)/decrease in contract assets Decrease/(increase) in net deferred tax assets Increase/(decrease) in payables Increase/(decrease) in contract liabilities (Decrease)/increase in current taxes Decrease in employee benefit obligations Net cash inflow/(outflow) from operating activities	2025 $ 2024 $ (659,770) (2,158,582) 878,329 988,953 19,898 - - 5,155 94,989 55,966 14 65,550 - (31,303) (238,460) 254,029 253,349 1,454,202 (216,380) 918,248 238,247 (164,171) 408,858 (1,040,729) 249,744 (1,403,566) (323,562) 28,352 (35,949) (189,391)
	669,307 (1,217,287)

Loss for the year
Adjustments for:
Depreciation and amortisation
Amortisation of right-of-use asset
Loss on disposal of property, equipment and software
Non-cash employee benefits expense - share-based payments
Other
Change in operating assets and liabilities
Exchange differences
Change in operating assets and liabilities:
Decrease in receivables
(Increase)/decrease in contract assets
Decrease/(increase) in net deferred tax assets
Increase/(decrease) in payables
Increase/(decrease) in contract liabilities
(Decrease)/increase in current taxes
Decrease in employee benefit obligations
Net cash inflow/(outflow) from operating activities

2025
$
2024
$ (659,770)
(2,158,582)
878,329
988,953
19,898
-
-
5,155
94,989
55,966
14
65,550
-
(31,303)
(238,460)
254,029
253,349
1,454,202
(216,380)
918,248
238,247
(164,171)
408,858
(1,040,729)
249,744
(1,403,566)
(323,562)
28,352
(35,949)
(189,391)

669,307
(1,217,287)

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025 (continued)

27 Cash flow information (continued)

(a) Non-cash investing and financing activities

Non-cash investing and financing activities disclosed in other notes are:

acquisition of right-of-use assets - note 13
options under the Employee Option Plan for no cash consideration - note 29.

(b) Net debt reconciliation

This section sets out an analysis of net debt and the movements in net debt for each of the years presented.

Net debt Cash and cash equivalents Leases Net debt Net debt as at 1 July 2023 Financing cash flows Foreign exchange adjustments Other changes Net debt as at 30 June 2024 Net debt as at 1 July 2024 Financing cash flows Lease modifications Net debt as at 30 June 2025	2025 $ 2024 $ 1,369,052 1,596,275 (135,319) (665,346) 1,233,733 930,929 Leases $ Cash and cash equivalents $ Total $ (1,006,623) 4,265,288 3,258,665 341,280 (2,656,549) (2,315,269) - (12,464) (12,464) (3) - (3)	2025 $ 2024 $ 1,369,052 1,596,275 (135,319) (665,346)
		1,233,733 930,929
	(665,346) 1,596,275 930,929
	(665,346) 1,596,275 930,929 542,245 (227,223) 315,022 (12,218) - (12,218)
	(135,319) 1,369,052 1,233,733

28 Earnings per share

(a) Basic earnings per share

(a) Basic earnings per share
Basic earnings per share (b) Diluted earnings per share Diluted earnings per share	2025 Cents 2024 Cents (0.20) (0.66)
	2025 Cents 2024 Cents (0.20) (0.65)

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025 (continued)

28 Earnings per share (continued)

(c) Reconciliations of earnings used in calculating earnings per share

Basic earnings per share Loss attributable to the ordinary equity holders of the Company used in calculating basic earnings per share b Diluted earnings per share Loss attributable to the ordinary equity holders of the Company used in calculating diluted earnings per share (d) Weighted average number of shares used as the denominator Weighted average number of ordinary shares for basic earnings per share Adjustments for calculation of diluted earnings per share: Share rights Weighted average number of ordinary and potential ordinary shares used as the denominator in calculating diluted earnings per share	2025 $ 2024 $ (659,770) (2,158,581)
	(659,770) (2,158,581)
	2025 Number 2024 Number 330,343,439 328,343,439 - 6,000,000
	330,343,439 334,343,439

(d) Weighted average number of shares used as the denominator

No diluted loss per share are presented as the effect of all potential ordinary shares are anti-dilutive for the year ended 30 June 2025.

No shares were issued during the year (2024: $nil) under the Jcurve Long Term Incentive Plan.

29 Share-based payments

(a) Shares Issued under Equity Incentive Plan

The Employee Incentive Plan was approved by shareholders at the Annual General Meeting held on 22 November 2023. The plan allows for the issuance of up to a maximum of 38,000,000 securities, comprising up to 18,000,000 securities for the Chief Executive Officer and up to 20,000,000 securities for future general allocation under the Incentive Plan.

When managing capital (equity), the board’s objectives are to ensure the Group continues as a going concern as well as to maintain optimal returns to shareholders and benefits for other stakeholders. The board adjusts the capital structure as necessary to take advantage of favourable costs of capital or high returns on assets. As the market is constantly changing, the board may change the amount of dividends to be paid to shareholders, return capital to shareholders, issue new shares or reduce debt that may be incurred to acquire assets.

During 2025 the Group issued additional performance rights under the plan as follows:

On 19 November 2024, 5,500,000 performance rights were granted, subject to a 10 cent 30-day VWAP hurdle expiring 31 December 2026. These included 1,000,000 rights to the CEO and 2,000,000 rights to the CFO.
On 11 February 2025, a further 1,500,000 performance rights were granted under the same conditions.

At 30 June 2025, unquoted securities on issue under the plan comprised 19,000,000 performance rights and 4,000,000 service rights. The fair value of awards is recognised as an expense over the vesting period in accordance with AASB 2 Share-based Payment .

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025 (continued)

29 Share-based payments (continued)

(a) Shares Issued under Equity Incentive Plan (continued)

CEO Securities

As part of his remuneration package, Mr. King was issued 18,000,000 share rights consisting of 12,000,000 performance rights and 6,000,000 service rights. These share rights have been accounted for as equity-settled share-based payments. The fair value of the awards granted is recognised as an expense over the vesting period.

Set out below are summaries of share rights granted under the plan:

		2025	2024
	Fair value per	Number of share	Fair value per	Number of
	right	rights	right	share rights
As at 1 July	-	18,000,000	-	-
Granted during the year	$0.0044	7,000,000	$0.0116	18,000,000
As at 30 June	$0.0044	25,000,000	-	18,000,000

(iii) Fair value of share rights

The fair value of services received in return for share rights granted is measured by reference to the fair value of the share rights granted.

The estimate of the fair value of the services received is measured using the Black-Scholes Model.

	30 June 2025	30 June 2024
Fair value at grant date	0.0103c - 0.0053c	0.033c - 0.034c
Share price per share	$0.025 - $0.030	0.034c
Exercise price	0c	-
Expected volatility	63% - 64%	65%
Option life	1 year	1 - 3.5 years
Dividend yield	0%	0%
Risk- free interest rate	4.27% - 4.42%	4.19%

Under the Employee Incentive Plan, the 6,000,000 service rights vest in three annual tranches of 2,000,000 subject to continuous service. 2,000,000 vested and were issued as ordinary shares on 14 August 2024; 4,000,000 remain unvested at 30 June 2025.

(b) Expenses arising from share-based payment transactions

Total expenses arising from share-based payment transactions recognised during the year as part of employee benefit expense were as follows:

Share-based payment	2025 $ 2024 $ 94,989 55,966

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025

(continued)

30 Parent entity financial information

(a) Summary financial information

The individual financial statements for the parent entity, Jcurve Solutions Limited, show the following aggregate amounts:

Balance sheet Current assets Non-current assets Total assets Current liabilities Non-current liabilities Total liabilities Net assets/(liabilities) Shareholders' equity Share capital Reserves Accumulated losses Total equity/(deficiency in equity) Profit/(loss) for the year Total comprehensive income/(loss)	2025 $ 2024 $ 4,335,005 2,439,061 3,767,013 2,630,737
	8,102,018 5,069,798
	6,118,790 8,572,733 723,260 71,870
	6,842,050 8,644,603
	1,259,968 (3,574,805)
	17,638,218 17,586,326 1,822,077 1,778,980 (18,200,327) (22,940,111)
	1,259,968 (3,574,805)
	4,782,881 (4,004,553)
	4,782,881 (4,004,553)

(b) Guarantees entered into by the parent entity

There are no guarantees entered into by the parent entity.

(c) Contingent liabilities of the parent entity

The parent entity did not have any contingent liabilities as at 30 June 2025 or 30 June 2024.

(d) Contractual commitments for the acquisition of property, plant or equipment

The parent entity did not have any contractual commitments as at 30 June 2025 or 30 June 2024.

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025 (continued)

31 Events occurring after the reporting period

Following is a summary of subsequent events post 30 June 2025:

On 14 August 2025, 2,000,000 CEO Service Rights were converted into fully paid ordinary shares of the company in accordance with the vesting conditions set forth from the date of commencement.
On 31 July 2025, the Group’s working capital facility was reduced from $1,000,000 to $750,000.
The Company entered into a Subscription Agreement for a placement of 20,000,000 ordinary shares at $0.05 per share, raising $1,000,000, together with 13,333,333 attaching options exercisable at $0.075, expiring 18 July 2026.

No other matter or circumstance has arisen since 30 June 2025 that has significantly affected the Group's operations, results, or state of affairs, or may do so in future years.

Jcurve Solutions Limited Consolidated entity disclosure statement 30 June 2025

				Australian
				resident or	Countries of
	Type of	% of share	Country of	foreign	residence for
Name of entity	entity	capital	incorporation	resident	tax purpose
A
Jcurve Solutions Ltd	Company	100	Australia	Australian	Australia
Jcurve Business Software Pty Ltd	Company	100	Australia	Australian	Australia
Fleet Manager Pty Ltd	Company	100	Australia	Australian	Australia
Phoneware Pty Ltd	Company	100	Australia	Australian	Australia
Interfleet Pty Ltd	Company	100	Australia	Australian	Australia
The Full Circle Group Pty Ltd	Company	100	Australia	Australian	Australia
JCS Tech Solutions Pty Ltd	Company	100	Australia	Australian	Australia
Jcurve Solutions Asia Pte Ltd	Company	100	Singapore	Foreign	Singapore
Jcurve Mobile Services Pty Ltd	Company	100	Australia	Australian	Australia
Jcurve Solutions Philippines Inc	Company	100	Philippines	Foreign	Philippines
Rapid Software Soluitons Pte. Ltd -
Previously called Riyo Tech Solutions
Pte Ltd	Company	100	Singapore	Foreign	Singapore
Sumptuous Tech Holdings Pte Ltd	Company	100	Singapore	Foreign	Singapore
Jcurve Solutions Thailand Co Ltd	Company	100	Thailand	Foreign	Thailand

AI assistant

JCURVE SOLUTIONS LTD — Annual Report 2025

65158_rns_2025-08-28_fc528042-2ab7-4ebd-94f5-721a74c3f835.pdf

Appendix 4E Results for announcement to the market Preliminary Final Report

Dividends

Net Tangible Assets / Earnings Per Share

Entities over which control has been gained

Audit qualification or review

Accounting Policies, Estimation Methods and Measurements

Explanation of Result

About Jcurve

Financial report - 30 June 2025

Principal activities

Jcurve Solutions Limited Consolidated statement of profit and loss and other comprehensive income For the year ended 30 June 2025

Jcurve Solutions Limited Consolidated statement of financial position As at 30 June 2025

Jcurve Solutions Limited Consolidated statement of changes in equity For the year ended 30 June 2025

Jcurve Solutions Limited Consolidated statement of cash flows For the year ended 30 June 2025

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025

1 Summary of material accounting policies

(a) Basis of preparation

(i) Compliance with IFRS Accounting Standards

(ii) Historical cost convention

(iii) Comparatives

(iv) New and amended standards adopted by the Group

(v) New standards and interpretations not yet adopted

1 Summary of material accounting policies (continued)

(b) Going concern

(c) Principles of consolidation

Subsidiaries

(d) Segment reporting

(e) Foreign currency translation

(i) Functional and presentation currency

1 Summary of material accounting policies (continued)

(e) Foreign currency translation (continued)

(ii) Transactions and balances

(iii) Group companies

(f) Revenue recognition

1 Summary of material accounting policies (continued)

(f) Revenue recognition (continued)

Specific revenue streams

(i) Enterprise Resource Planning (ERP) solutions - JCurveERP and NetSuite

JCurveERP Edition - implementation of JCurveERP and JCurveERP software licenses

NetSuite Edition - Reseller of software licenses

Service revenue

Support

(ii) Jtel Next

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025 (continued)

1 Summary of material accounting policies (continued)

(f) Revenue recognition (continued)

(iii) Jcurve FSM

Subscription License Revenue

Service Revenue

(g) Income tax

Tax consolidation legislation

1 Summary of material accounting policies (continued)

(g) Income tax (continued)

Tax consolidation legislation (continued)

(h) Leases

Jcurve Solutions Limited Notes to the consolidated financial statements 30 June 2025 (continued)

1 Summary of material accounting policies (continued)

(h) Leases (continued)

(i) Impairment of non-financial assets

1 Summary of material accounting policies (continued)

(j) Cash and cash equivalents

(k) Contract assets

(l) Trade and other receivables

(m) Contract liabilities

(n) Intangible assets

(i) Goodwill

1 Summary of material accounting policies (continued)

(n) Intangible assets (continued)

(ii) License

(iii) Customer relationships

(iv) Capitalised development costs

(v) Amortisation methods and useful lives

(o) Trade and other payables

1 Summary of material accounting policies (continued)

(p) Employee benefits

(i) Short-term obligations

(ii) Other long-term employee benefit obligations

JCURVE SOLUTIONS LTD Annual Report 2025