SCIDEV LTD — Interim / Quarterly Report 2026

Feb 24, 2026

SciDev Limited Appendix 4D Half-year report

1. Company details

Name of entity: SciDev Limited ABN: 25 001 150 849 Reporting period: For the half-year ended 31 December 2025 Previous period: For the half-year ended 31 December 2024

2. Results for announcement to the market

	31 Dec 2025	31 Dec 2024	Change	Change	Change
	$'000	$'000	$'000	%
Revenues from ordinary activities	47,868	49,927	(2,059)		(4%)
Loss from ordinary activities after tax attributable to the
owners of SciDev Limited	(2,140)	(68)	(2,072)	(3047%)
Loss for the half-year attributable to the owners of SciDev
Limited	(2,140)	(68)	(2,072)	(3047%)
			31 Dec 2025	31 Dec	2024
			Cents	Cents
Basic earnings per share			(1.13)		(0.04)
Diluted earnings per share			(1.13)		(0.04)

Dividends

There were no dividends paid, recommended or declared during the current financial period.

Comments

The loss for the consolidated entity after providing for income tax amounted to $2,140,000 (31 December 2024: $68,000).

Reference is made to the Review of Operations in the Directors' Report contained in the attached Interim Financial Report for SciDev Limited for the half-year ended 31 December 2025.

3. Net tangible assets

Net tangible assets per ordinary security	31 Dec 2025 Cents 12.16	30 Jun 2025 Cents 13.32

4. Other

Not applicable.

SciDev Limited

ABN 25 001 150 849

Interim Financial Report - 31 December 2025

SciDev Limited Contents 31 December 2025

Directors' report	2
Auditor's independence declaration	4
Consolidated statement of profit or loss and other comprehensive income	5
Consolidated statement of financial position	6
Consolidated statement of changes in equity	7
Consolidated statement of cash flows	8
Notes to the consolidated financial statements	9
Directors' declaration	19
Independent auditor's review report to the members of SciDev Limited	20
Corporate directory	22

General information

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

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

Registered office	Principal place of business
Level 8	Building G
210 George Street	22 Powers Road
Sydney	Seven Hills
NSW 2000	NSW 2147

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

The financial statements were authorised for issue, in accordance with a resolution of directors, on 25 February 2026.

1

SciDev Limited Directors' report 31 December 2025

The directors present their report, together with the financial statements, on the consolidated entity (referred to hereafter as the 'Group' or the 'consolidated entity') consisting of SciDev Limited (referred to hereafter as the 'company' or 'parent entity') and the entities it controlled at the end of, or during, the half-year ended 31 December 2025 (1H FY25).

Directors

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

Michael Utsler Sean Halpin Jon Gourlay Dan O'Toole Johannes Risseeuw

Principal activities

SciDev is a leader in the environmental solutions market focused on water-intensive industries. SciDev brings together world-class technology, chemistry and application to solve pressing operational and environmental issues for the water, oil and gas, mining and construction markets.

Dividends

There were no dividends paid, recommended or declared during the current or previous financial half-year.

Operating and financial review

1H FY26 unaudited revenue of $47.9m (1H FY25 $49.9m), delivering an underlying EBITDA of $1.1m (1H FY25 $3.4m).

Cashflow from operations amounted to negative $0.7m. Operating cashflows were adversely impacted by the $0.8m payment for due diligence costs related to a potential acquisition in 2H FY25 which subsequently did not progress. In addition, the company incurred a further $0.7m in abnormal expenses related primarily to redundancies and restructuring.

SciDev maintained a robust balance sheet with total cash of $7.5m, $7.7m in inventory and a further $6m in unutilised debt facilities as of 31 December 2025.

Reconciliation of loss before income tax to EBITDA and Underlying EBITDA (unaudited):

(Loss)/profit before income tax Depreciation and amortisation Finance costs EBITDA ISO asset rectification Restructuring including redundancies Underlying EBITDA	31 Dec 2025 $'000 (1,962) 2,089 231	31 Dec 2024 $'000 955 2,075 323
	358	3,353
	346 382	- -
	1,086	3,353

EBITDA and Underlying EBITDA are non-IFRS earnings measures which does not have any standardised meaning prescribed by IFRS and, therefore, may not be comparable to EBITDA and Underlying EBITDA presented by other companies. This measure, which is unaudited, is important to management as an additional way to evaluate the consolidated entity's performance. Underlying EBITDA excludes the effects of significant items of expenditure which may have an impact on the quality of earnings because of isolated or non-recurring events.

During 1H FY26, SciDev continued to build strength across the Group with stronger revenue from Chemical Services over the prior 1H FY25 period, a return to profitability in Water Technologies domestically, and growing a recurring revenue base to account for over half of total revenue.

2

SciDev Limited Directors' report 31 December 2025

Chemical Services

SciDev continues to innovate and deliver a range of chemistry solutions to its clients, that improve operational efficiency and reduce their wastewater footprint. Within this segment sit the business divisions of Energy Services and Process Chemistry.

During the period, Energy Services increased the number of clients buying its market leading CatChek product by 75%, while adding business development resources to target the most attractive shale formations for our high-value chemistries. In addition, the Process Chemistry business realised record revenues driven by large multi-year tunnelling projects related to metro and road infrastructure.

The outlook for the Chemical Services segment remains positive, and SciDev anticipates growth by delivering bespoke chemistry to new clients, through direct sales and by progressing the strategic Joint Venture with Nuoer Chemicals which provides access to a world-class manufacturing footprint while enabling competitiveness on a global scale.

Water Technologies

SciDev’s Water Technologies segment is centred around the removal of harmful contaminants from groundwater, surface water and industrial liquid waste, allowing water to be reused or safely discharged to the environment. SciDev operates through both Build, Own & Operate (BOO) and Design & Construct (D&C) commercial models and delivers solutions to various markets. During the period, the segment continued expanding its Australian operations, highlighted by the $19.5m contract win for the design and construction of a multi-stage groundwater treatment plant to treat contaminated groundwater from legacy uranium mining at the former Rum Jungle Mine.

Additionally, the international operations, which have faced growing cost pressures, were transitioned from a direct investment to a lower cost channel partner strategy. The benefits of these changes are expected to reduce costs by nearly $3 million annually, while retaining access to the significant long-term potential of these markets.

Significant changes in the state of affairs

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

Matters subsequent to the end of the financial half-year

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

Rounding of amounts

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

Auditor's independence declaration

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

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

On behalf of the directors

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_________ Michael Utsler Chairman

25 February 2026 Sydney

3

Parkline Place Level 25, 252 Pitt Street Sydney NSW 2000 Australia

Tel: +61 2 9251 4100 Fax: +61 2 9240 9821 www.bdo.com.au

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DECLARATION OF INDEPENDENCE BY IAN HOOPER TO THE DIRECTORS OF SCIDEV LIMITED

As lead auditor for the review of SciDev Limited for the half-year ended 31 December 2025, I declare that, to the best of my knowledge and belief, there have been:

1. No contraventions of the auditor independence requirements of the Corporations Act 2001 in relation to the review; and

2. No contraventions of any applicable code of professional conduct in relation to the review.

This declaration is in respect of SciDev Limited and the entities it controlled during the period.

==> picture [88 x 32] intentionally omitted <==

Ian Hooper Director

BDO Audit Pty Ltd

Sydney, 25 February 2026

BDO Audit Pty Ltd ABN 33 134 022 870 is a member of a national association of independent entities which are all members of BDO International Ltd, a UK company limited by guarantee, and form part of the international BDO network of independent member firms. Liability limited by a scheme approved under Professional Standards Legislation.

4

SciDev Limited Consolidated statement of profit or loss and other comprehensive income For the half-year ended 31 December 2025

Note Revenue 3 Other income Expenses Changes in inventories, and raw materials and consumables used Contractors and consultants Depreciation and amortisation expense Employee benefits expense Employee related expenses Insurance Professional fees Travel and accommodation Other expenses Finance costs (Loss)/profit before income tax expense Income tax expense 4 Loss after income tax expense for the half-year attributable to the owners of SciDev Limited Other comprehensive income Items that will not be reclassified subsequently to profit or loss Gain on the revaluation of equity instruments at fair value through other comprehensive income Items that may be reclassified subsequently to profit or loss Foreign currency translation Other comprehensive income for the half-year, net of tax Total comprehensive income for the half-year attributable to the owners of SciDev Limited Basic earnings per share 16 Diluted earnings per share 16	31 Dec 2025 $'000 47,868 157 (34,047) (956) (2,089) (8,754) (587) (504) (233) (780) (1,806) (231)	31 Dec 2024 $'000 49,927 17 (32,997) (779) (2,075) (8,847) (442) (487) (526) (805) (1,708) (323)
	(1,962) (178)	955 (1,023)
	(2,140) 218 (447)	(68) 149 1,160
	(229)	1,309
	(2,369)	1,241
	Cents (1.13) (1.13)	Cents (0.04) (0.04)

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

5

SciDev Limited Consolidated statement of financial position As at 31 December 2025

Note Assets Current assets Cash and cash equivalents 5 Trade and other receivables 6 Contract assets Inventories 7 Income tax refund due Other 9 Total current assets Non-current assets Contract assets Financial assets at fair value through other comprehensive income 8 Property, plant and equipment 10 Intangibles 11 Deferred tax Other 9 Total non-current assets Total assets Liabilities Current liabilities Trade and other payables 12 Contract liabilities Interest bearing liabilities 13 Lease liabilities Employee benefits Total current liabilities Non-current liabilities Interest bearing liabilities 13 Lease liabilities Total non-current liabilities Total liabilities Net assets Equity Issued capital Reserves 14 Accumulated losses Total equity	31 Dec 2025 $'000 7,523 13,951 1,306 7,726 209 982	30 Jun 2025 $'000 9,683 15,000 635 7,417 79 1,009
	31,697	33,823
	190 615 9,863 24,318 3,867 691	134 397 11,275 24,740 4,135 722
	39,544	41,403
	71,241	75,226
	16,803 998 1,527 1,019 659	18,062 208 1,527 1,309 644
	21,006	21,750
	1,549 1,255	1,813 1,613
	2,804	3,426
	23,810	25,176
	47,431	50,050
	119,606 (662) (71,513)	119,606 (183) (69,373)
	47,431	50,050

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

6

SciDev Limited Consolidated statement of changes in equity For the half-year ended 31 December 2025

Balance at 1 July 2024 Loss after income tax expense for the half-year Other comprehensive income for the half-year, net of tax Total comprehensive income for the half-year Transactions with owners in their capacity as owners: Contributions of equity, net of transaction costs Share-based payments Balance at 31 December 2024 Balance at 1 July 2025 Loss after income tax expense for the half-year Other comprehensive income for the half-year, net of tax Total comprehensive income for the half-year Transactions with owners in their capacity as owners: Share-based payments Balance at 31 December 2025	Issued capital $'000 119,489 - -	Reserves $'000 (757) - 1,309	Accumulated losses $'000 (68,495) (68) -	Total equity $'000 50,237 (68) 1,309
	- 141 -	1,309 - 50	(68) - -	1,241 141 50
	119,630	602	(68,563)	51,669
	Issued capital $'000 119,606 - -	Reserves $'000 (183) - (229)	Accumulated losses $'000 (69,373) (2,140) -	Total equity $'000 50,050 (2,140) (229)
	- -	(229) (250)	(2,140) -	(2,369) (250)
	119,606	(662)	(71,513)	47,431

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

7

SciDev Limited Consolidated statement of cash flows For the half-year ended 31 December 2025

Note Cash flows from operating activities Receipts from customers (inclusive of GST) Payments to suppliers and employees (inclusive of GST) Transaction costs including due diligence paid Interest and other finance costs paid Income taxes paid Net cash (used in)/from operating activities Cash flows from investing activities Loan to joint venture Payments for property, plant and equipment Payments for intangibles Payments for security deposits Proceeds from disposal of property, plant and equipment Proceeds from release of security deposits Net cash used in investing activities Cash flows from financing activities Proceeds from bank loans Principal elements of lease payments Repayment of bank loans Transaction costs related to bank loans Repayment of related party loans Net cash used in financing activities Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at the beginning of the financial half-year Effects of exchange rate changes on cash and cash equivalents Cash and cash equivalents at the end of the financial half-year 5	31 Dec 2025 $'000 51,318 (51,002)	31 Dec 2024 $'000 51,143 (48,712)
	316 (761) (195) (38)	2,431 - (242) -
	(678)	2,189
	(45) (496) (19) - 23 149	- (446) (19) (256) - -
	(388)	(721)
	- (636) (300) - -	3,000 (599) (200) (218) (2,379)
	(936)	(396)
	(2,002) 9,683 (158)	1,072 9,425 453
	7,523	10,950

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

8

SciDev Limited Notes to the consolidated financial statements 31 December 2025

Note 1. Material accounting policy information

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

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

The accounting policies adopted are consistent with those of the previous financial year and corresponding interim reporting period, unless otherwise stated.

New or amended Accounting Standards and Interpretations adopted

The consolidated entity has adopted all of the new or amended Accounting Standards and Interpretations issued by the Australian Accounting Standards Board ('AASB') that are mandatory for the current reporting period. The adoption of these Accounting Standards and Interpretations did not have any significant impact on the financial performance or position of the consolidated entity.

Any new or amended Accounting Standards or Interpretations that are not yet mandatory have not been early adopted.

Note 2. Operating segments

Identification of reportable operating segments

Operating and business segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker. The chief operating decision maker, who is responsible for allocating resources and assessing the performance of the operating segments, has been identified as the Board of Directors.

Types of products and services

The principal products and services of each of these operating segments are as follows:

Chemical Services	Develop, manufacture and supply a range of chemistries and performance solutions that
	improve operational efficiencies, reduce waste and minimise water consumption across
	industry.
Water Technologies	Specialised water treatment and remediation technologies that remove harmful
	contaminants from groundwater, surface water and industrial liquid waste allowing water
	to be recycled or safely discharged to the environment.
Corporate	Includes Head Office and group services

Intersegment transactions

Intersegment transactions were made at market rates. Intersegment transactions are eliminated on consolidation.

9

SciDev Limited Notes to the consolidated financial statements 31 December 2025

Note 2. Operating segments (continued)

Operating segment information for the six months ended:

31 Dec 2025 Revenue Sales to external customers Intersegment sales Total sales revenue Other revenue Total revenue Underlying EBITDA Depreciation and amortisation Finance costs ISO asset rectification Restructuring including redundancies Loss before income tax expense Income tax expense Loss after income tax expense*	Chemical Services $'000 40,384 37	Water Technologies $'000 7,398 -	Corporate $'000 - -	Eliminations and adjustments $'000 - (37)	Total $'000 47,782 -
	40,421 -	7,398 -	- 86	(37) -	47,782 86
	40,421	7,398	86	(37)	47,868
	2,749	(444)	(1,219)	-	1,086 (2,089) (231) (346) (382)
					(1,962) (178)
					(2,140)

• Underlying EBITDA is a non-IFRS measure and excludes the effects of significant items of expenditure which may have an impact on the quality of earnings because of isolated or non-recurring events.

31 Dec 2024 Revenue Sales to external customers Intersegment sales Total sales revenue Other revenue Total revenue Underlying EBITDA Depreciation and amortisation Finance costs Profit before income tax expense Income tax expense Loss after income tax expense*	Chemical Services $'000 40,101 3	Water Technologies $'000 9,748 -	Corporate $'000 - -	Eliminations and adjustments $'000 - (3)	Total $'000 49,849 -
	40,104 -	9,748 -	- 78	(3) -	49,849 78
	40,104	9,748	78	(3)	49,927
	6,111	(924)	(1,832)	(2)	3,353 (2,075) (323)
					955 (1,023)
					(68)

• Underlying EBITDA is a non-IFRS measure and excludes the effects of significant items of expenditure which may have an impact on the quality of earnings because of isolated or non-recurring events.

10

SciDev Limited Notes to the consolidated financial statements 31 December 2025

Note 3. Revenue

Revenue from contracts with customers Treatment fees and product sales Other revenue Rent Revenue Disaggregation of revenue The disaggregation of revenue from contracts with customers is as follows: Geographical regions Australia North America Europe Other Timing of revenue recognition Goods transferred at a point in time Services transferred over time	31 Dec 2025 $'000 47,782	31 Dec 2024 $'000 49,849
	86	78
	47,868	49,927
	31 Dec 2025 $'000 21,011 26,020 358 393	31 Dec 2024 $'000 21,677 27,627 300 245
	47,782	49,849
	40,225 7,557	39,510 10,339
	47,782	49,849

11

SciDev Limited Notes to the consolidated financial statements 31 December 2025

Note 4. Income tax

Income tax expense Current tax Deferred tax - origination and reversal of temporary differences Adjustment recognised for prior periods Aggregate income tax expense Numerical reconciliation of income tax expense and tax at the statutory rate (Loss)/profit before income tax expense Tax at the statutory tax rate of 30% Tax effect amounts which are not deductible/(taxable) in calculating taxable income: Non-deductible expenses Non-assessable income Adjustment recognised for prior periods Tax losses and temporary differences not recognised Difference in overseas tax rates Income tax expense Note 5. Cash and cash equivalents Current assets Cash at bank Cash on deposit Note 6. Trade and other receivables Current assets Trade receivables Less: Allowance for expected credit losses Other receivables Receivable from joint venture	31 Dec 2025 $'000 - 274 (96)	31 Dec 2024 $'000 1,089 (66) -
	178	1,023
	(1,962)	955
	(589) 3 (75)	287 6 -
	(661) (96) 1,023 (88)	293 - 1,187 (457)
	178	1,023
	31 Dec 2025 $'000 7,473 50	30 Jun 2025 $'000 9,633 50
	7,523	9,683
	31 Dec 2025 $'000 13,959 (141)	30 Jun 2025 $'000 15,058 (141)
	13,818	14,917
	5 128	- 83
	13,951	15,000

12

SciDev Limited Notes to the consolidated financial statements 31 December 2025

Note 7. Inventories

Current assets Stock in transit - at cost Stock on hand - at cost Note 8. Financial assets at fair value through other comprehensive income Non-current assets Unlisted equity securities Listed equity securities Reconciliation Reconciliation of the fair values at the beginning and end of the current and previous financial half-year are set out below: Opening fair value Revaluation increments through other comprehensive income Closing fair value	31 Dec 2025 $'000 1,649 6,077	30 Jun 2025 $'000 2,041 5,376
	7,726	7,417
	31 Dec 2025 $'000 3 612	30 Jun 2025 $'000 3 394
	615	397
	397 218	452 (55)
	615	397

Refer to note 15 for further information on fair value measurement.

Note 9. Other

Current assets Prepayments Security deposits Other current assets Non-current assets Security deposits	31 Dec 2025 $'000 865 117 -	30 Jun 2025 $'000 713 236 60
	982	1,009
	691	722
	1,673	1,731

13

SciDev Limited Notes to the consolidated financial statements 31 December 2025

Note 10. Property, plant and equipment

Non-current assets Office buildings and warehouses - at cost Less: Accumulated depreciation Plant and equipment - at cost Less: Accumulated depreciation Motor vehicles - at cost Less: Accumulated depreciation Office equipment - at cost Less: Accumulated depreciation	31 Dec 2025 $'000 2,773 (2,174)	30 Jun 2025 $'000 3,026 (2,091)
	599	935
	18,251 (9,795)	18,074 (8,826)
	8,456	9,248
	1,980 (1,307)	2,032 (1,139)
	673	893
	511 (376)	508 (309)
	135	199
	9,863	11,275

Reconciliations

Reconciliations of the written down values at the beginning and end of the current financial half-year are set out below:

Balance at 1 July 2025 Additions Disposals Exchange differences Depreciation expense Balance at 31 December 2025	Office buildings and warehouses $'000 935 30 - (8) (358)	Plant and equipment $'000 9,248 491 - (72) (1,211)	Motor vehicles $'000 893 - (12) (9) (199)	Office equipment $'000 199 5 - (1) (68)	Total $'000 11,275 526 (12) (90) (1,836)
	599	8,456	673	135	9,863

Included in the above line items are right-of-use assets over the following:

Balance at 1 July 2025 Recognition of right-of-use assets Exchange differences Depreciation expense Balance at 31 December 2025	Office buildings and warehouses $'000 935 30 (8) (358)	Plant and equipment $'000 1,188 - (25) (139)	Motor vehicles $'000 744 - (9) (137)	Total $'000 2,867 30 (42) (634)
	599	1,024	598	2,221

14

SciDev Limited Notes to the consolidated financial statements 31 December 2025

Note 11. Intangibles

Non-current assets Goodwill - at cost Trademarks and intellectual property - at cost Less: Accumulated amortisation Customer contracts - at cost Less: Accumulated amortisation	31 Dec 2025 $'000 20,811	30 Jun 2025 $'000 20,995
	3,781 (1,358)	3,768 (1,270)
	2,423	2,498
	2,600 (1,516)	2,600 (1,353)
	1,084	1,247
	24,318	24,740

Reconciliations

Reconciliations of the written down values at the beginning and end of the current financial half-year are set out below:

Balance at 1 July 2025 Additions Exchange differences Amortisation expense Balance at 31 December 2025	Goodwill $'000 20,995 - (184) -	Trademarks and intellectual property $'000 2,498 19 (4) (90)	Customer contracts $'000 1,247 - - (163)	Total $'000 24,740 19 (188) (253)
	20,811	2,423	1,084	24,318

Note 12. Trade and other payables

Current liabilities Trade payables Other payables	31 Dec 2025 $'000 15,160 1,643	30 Jun 2025 $'000 16,147 1,915
	16,803	18,062

15

SciDev Limited Notes to the consolidated financial statements 31 December 2025

Note 13. Interest bearing liabilities

Current liabilities Secured: Bank loans Non-current liabilities Secured: Bank loans Financing arrangements Used at the reporting date (net of repayments) Bank loan - amortising and non-revolving facility Bank loan - non-amortising revolving business loan facility Bank loan - equipment finance facility Unused at the reporting date Bank loan - amortising and non-revolving facility Bank loan - non-amortising revolving business loan facility Bank loan - equipment finance facility The used bank loan facility excludes borrowing costs capitalised. Note 14. Reserves* Financial assets at fair value through other comprehensive income reserve Foreign currency reserve Share-based payments reserve	31 Dec 2025 $'000 1,527	30 Jun 2025 $'000 1,527
	1,549	1,813
	3,076	3,340
	31 Dec 2025 $'000 2,200 1,000 -	30 Jun 2025 $'000 2,500 1,000 -
	3,200	3,500
	- 4,000 2,000	- 4,000 2,000
	6,000	6,000
	31 Dec 2025 $'000 (888) (407) 633	30 Jun 2025 $'000 (1,106) 40 883
	(662)	(183)

16

SciDev Limited Notes to the consolidated financial statements 31 December 2025

Note 14. Reserves (continued)

Movements in reserves

Movements in each class of reserve during the current financial half-year are set out below:

Balance at 1 July 2025 Revaluation - gross (note 8) Foreign currency translation Share-based payments Balance at 31 December 2025	Financial assets at FVOCI reserve $'000 (1,106) 218 - -	Foreign currency reserve $'000 40 - (447) -	Share-based payments reserve $'000 883 - - (250)	Total $'000 (183) 218 (447) (250)
	(888)	(407)	633	(662)

Note 15. Fair value measurement

Fair value hierarchy

The following tables detail the consolidated entity's assets and liabilities, measured or disclosed at fair value, using a three level hierarchy, based on the lowest level of input that is significant to the entire fair value measurement, being: Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date

Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly

Level 3: Unobservable inputs for the asset or liability

31 Dec 2025 Assets Equity securities - listed Equity securities - unlisted Total assets 30 Jun 2025 Assets Equity securities - listed Equity securities - unlisted Total assets	Level 1 $'000 612 -	Level 2 $'000 - 3	Level 3 $'000 - -	Total $'000 612 3
	612	3	-	615
	Level 1 $'000 394 -	Level 2 $'000 - 3	Level 3 $'000 - -	Total $'000 394 3
	394	3	-	397

Valuation techniques for fair value measurements categorised within level 2 and level 3

Level 2: Equity securities

The fair value of financial instruments that are not traded in an active market is determined using valuation techniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.

17

SciDev Limited Notes to the consolidated financial statements 31 December 2025

Note 16. Earnings per share

Loss after income tax attributable to the owners of SciDev Limited Weighted average number of ordinary shares used in calculating basic earnings per share Weighted average number of ordinary shares used in calculating diluted earnings per share Basic earnings per share Diluted earnings per share		31 Dec 2025 $'000 (2,140)	31 Dec 2025 $'000 (2,140)	31 Dec 2024 $'000 (68)
		Number 190,088,581		Number 189,919,281
		190,088,581		189,919,281
		Cents (1.13) (1.13)		Cents (0.04) (0.04)

Note 17. Events after the reporting period

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

18

SciDev Limited Directors' declaration 31 December 2025

In the directors' opinion:

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

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

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

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

On behalf of the directors

==> picture [162 x 51] intentionally omitted <==

_________ Michael Utsler Chairman

25 February 2026 Sydney

19

Parkline Place Level 25, 252 Pitt Street Sydney NSW 2000 Australia

Tel: +61 2 9251 4100 Fax: +61 2 9240 9821 www.bdo.com.au

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INDEPENDENT AUDITOR'S REVIEW REPORT

To the members of SciDev Limited

Report on the Half-Year Financial Report

Conclusion

We have reviewed the half-year financial report of SciDev Limited (the Company) and its subsidiaries (the Group), which comprises the consolidated statement of financial position as at 31 December 2025, the consolidated statement of profit or loss and other comprehensive income, the consolidated statement of changes in equity and the consolidated statement of cash flows for the half-year ended on that date, material accounting policy information and other explanatory information, and the directors’ declaration.

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

• i. Giving a true and fair view of the Group’s financial position as at 31 December 2025 and of its financial performance for the half-year ended on that date; and

• ii. Complying with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001.

Basis for conclusion

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

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

Responsibility of the directors for the financial report

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

BDO Audit Pty Ltd ABN 33 134 022 870 is a member of a national association of independent entities which are all members of BDO International Ltd, a UK company limited by guarantee, and form part of the international BDO network of independent member firms. Liability limited by a scheme approved under Professional Standards Legislation.

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Auditor’s responsibility for the review of the financial report

Our responsibility is to express a conclusion on the half-year financial report based on our review. ASRE 2410 requires us to conclude whether we have become aware of any matter that makes us believe that the half-year financial report is not in accordance with the Corporations Act 2001 including giving a true and fair view of the Group’s financial position as at 31 December 2025 and its financial performance for the half-year ended on that date and complying with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001 .

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

BDO Audit Pty Ltd

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Ian Hooper Director Sydney, 25 February 2026

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SciDev Limited Corporate directory 31 December 2025

Directors	Michael Utsler - Non-executive Chairman
	Sean Halpin - Managing Director and Chief Executive Officer
	Jon Gourlay - Non-executive Director
	Dan O'Toole - Non-executive Director
	Johannes Risseeuw - Non-executive Director
Company secretary	Heath L Roberts
Registered office	Level 8
	210 George Street, Sydney
	NSW 2000
	Phone: 1300 737 760
Principal place of business	Building G
	22 Powers Road
	Seven Hills
	NSW 2147
	Phone: (02) 9622 5185
Share register	Boardroom Pty Limited
	Level 8
	210 George Street, Sydney
	NSW 2000
	Phone: 1300 737 760
Auditor	BDO Audit Pty Ltd
	252 Pitt Street
	Sydney
	NSW 2000
Stock exchange listing	SciDev Limited shares are listed on the Australian Securities Exchange (ASX code:
	SDV)
Website	www.scidevltd.com
Corporate governance statement	www.scidevltd.com/governance

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