SKS TECHNOLOGIES GROUP LIMITED — AGM Information 2025

Nov 19, 2025

An SKS Technologies project – MEL01 hyperscale data centre

A S X : S K S

FY25 Annual General Meeting

20 November 2025

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Acknowledgement of Country

We acknowledge the traditional custodians of the land on which we are gathered on and pay our respects to their elders past, present and emerging.

Disclaimer

The material contained in this document is a presentation of general information about SKS Technologies’ activities current as at the date of this presentation. It is provided in summary and does not purport to be complete. You should not rely upon it as advice for investment purposes, as it does not account for your investment objectives, financial position or needs. These factors should be considered, with or without professional advice, when deciding if an investment is appropriate.

To the extent permitted by law, no responsibility for any loss arising in any way (including by way of negligence) from anyone acting or refraining from acting due to this material is accepted by SKS Technologies, including any of its related bodies corporate.

This document may contain forward looking statements with respect to the financial condition, results of operations, and business strategy of the SKS Technologies Group. These forwardlooking statements are based on estimates, projections and assumptions made by the SKS Technologies Group about circumstances and events that have not yet taken place. Although SKS Technologies believes the forward-looking statements to be reasonable, they are not certain. Forward looking statements involve known and unknown risks, uncertainties and other factors that are in some cases beyond SKS Technologies’ control, and which may cause actual results, performance or achievements to differ materially from those expressed or implied by the forwardlooking statements (and from past results). SKS Technologies makes no representation or warranty as to the accuracy of any forward-looking statements in this document and undue reliance should not be placed upon such statements.

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The forward-looking statements in this document speak only as of the date of this document. SKS Technologies does not intend to update the forward-looking statements in this document in the future.

3

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Chair’s Address
Peter Jinks
Electrical installation for the new Qantas Adelaide Lounge
Precinct at Adelaide Airport, SA
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Chief Executive Officer’s
Address
Matthew Jinks
Electrical installation and integration works for the new NextDC data
centre in Darwin, NT
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Significant organic growth achieved in FY25

Objective: To embed an increasingly sophisticated operating base to support continuing levels of planned organic growth.

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FY25 achievements

• Increased tender activity from ~$354 m in Aug 24 to ~$517m in

• Aug 25 – 46.0%

• Increased Work on Hand from $96m at FY24 to $200m at FY25 - 108.7%

• Opened new office site in western Melbourne, close to data centre customers to build repeat business

• Achieved 61.9% increase in bank facilities from $21.0m to $34m

• Built working capital from $5.12m in FY24 to $16.02m in FY25 –

212.9%

• Increased revenue in traditional business by 15.2% from ~105m in FY24 to $121m in FY25

• • Achieved repeat business rate of 94% - indicative of new work from data centre relationships as well as traditional business

• Increased level of end-user work emanating from data centre operators post construction completion

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Growth

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• Pursue core growth organically

• • Assess opportunistic acquisitions for fit

• Vision

• Anticipate market demand and direction

To drive future electrical technology landscapes through innovation, feasibility and efficiency that continuously captures potential and builds new ways of thinking

• Rigorously analyse investment options

• • Constant eye on future capital needs

Mission

To execute creative, client-centric electrical • Build state-based customer technology solutions for unique and complex accounts into national accounts needs, safely and 3. • Focus on growth across all market professionally sectors

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5

Strategy to capture data centre market share in NSW

Having captured a material share of the data centre market in Melbourne, SKS Technologies will acquire Delta Elcom in Sydney, harnessing its data centre expertise and track record for rapid market expansion in Sydney.

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Australian data centre market by Data centre track record Strategy to pursue the Sydney market
installed capacity (MW)
•
100% acquisition of Sydney-based
AFR, 26 Oct 25 electrical and communications specialist,
Delta Elcom
Rest of Australia 3500
Melbourne •
Provides instant access to the largest data
Sydney
3000 centre market in Australia with proven
track record and valuable reputation
2500
•
Excellent fit in terms of capabilities,
2000
experience, and culture as well as
1500 customer overlay
1000 • Price - $13.75 million ($11.75 million cash
and $2 million scrip) plus an earnout
500 capped at $1.25 million
2021 2023 2025e 2027e 2029e •
Acquisition completion January 2026
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= $382 million of data centre contracts
announced since 1 July 2024
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Strategic consolidation advances systems & processes

Objective: To embed an increasingly sophisticated operating base to support continuing levels of planned organic growth.

Consolidation

• Focus on recruiting the right people

• Providing employee training programs that foster attitudinal excellence

• • Seek feedback from customers during and upon completion of projects

• Ensure margins are maintained despite continuing rapid increase in market share

• Manage cost base to support growing operating platform

• Invest in IT systems to support growth

• • Build the operating framework to sustain a higher level of operating activity

• • Continue to enhance the SKS Technologies safety culture

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FY25 achievements

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• Introduced bespoke employee induction process

• Continue to build on our established, dedicated and highly-skilled employees

• employees Vision • Increased specialised data centre teams, building customer To drive future electrical relationships and securing additional work post construction technology landscapes completion through innovation, feasibility and efficiency • that continuously Increased PBT margin from 4.8% in FY24 to 7.9% in FY25 – 65.7% captures potential and increase 2. builds new ways of thinking • Contained overheads, which can now support up to $350m • Mission Targeted high margin work with processes to ensure margins were achieved To execute creative, client-centric electrical • Invested $1m in new hardware for optimum performance technology solutions for • unique and complex Enhanced systems for improved forecasting, cost tracking and 3. needs, safely and project management professionally

• Increased PBT margin from 4.8% in FY24 to 7.9% in FY25 – 65.7% increase

• Increased IT security to comply with the Essential 8 Security Requirements

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•
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• Upgraded plant and equipment to minimise operator risk

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Significant earnings increases in FY25

Sales Revenue

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Sales Revenue ($M) EBITDA ($M) PBT ($M)
Continuous increases with FY24 to FY25 261.66 23.47 20.79
reaching 92.0%
64.7% CAGR 85.2% CAGR 103.9% CAGR
Expense increasing at a lower rate than
revenue with fixed cost base able to
service in excess of $350 million
136.31
EBITDA
8.99
Increased by 161.2% from $8.99 million in 83.27 6.50
FY24 to $23.47 million in FY25 67.29
1.20
EBIT 35.60 1.99 3.45 2.66 2.00 0.53
FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25
Increased by 192.2% from $7.06 million in
FY24 to $20.64 million in FY25
PBT Margin NPAT ($M) EPS (cents) Dividend (cents) 6.0
Increased by 65.7% over the year, showing 14.03 12.49 5.00
the scale benefits of the current cost
59.5 % CAGR 67.2% CAGR Final
structure of the business Interim
NPAT
Increased by 111.8% from $6.62 million in
FY24 to $14.01 million in FY25 6.62 6.04
3.02 2.80
2.17 0.63 1.60 0.58 0.00 0.25 0.20 1.00 1.00
FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 2021 2022 2023 2024 2025
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8

Strong cash position boosted by increased bank facilities

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Cash

Cash flows from operations approximately 4x higher than pcp off the back of a robust pipeline and ever-expanding order book. Net cash flows increased by 8.7 times while cash on hand grew by 9.6 times

Working Capital

More than 13x higher than pcp showing a turnaround of $17.30 million since FY21, and an increase of 212.9% in FY25

Bank Facilities

Have been further increased from $21.0 million in FY24 to $34 million in August 2025, representing a 61.9% increase and a more than quadrupling over the three years since they were secured

Debt

Remains at zero since the retirement of long-term debt in FY23

Return on Capital Employed

Increased by 73.1% on pcp due to profitability increasing faster than capital employed to generate it

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Cash flows from ops ($M) Net cash flows ($M) Cash on hand ($M)
34.99 29.11 32.48
122.4% CAGR 315.3% CAGR
8.42
1.43
-0.90 2.92 -0.12 -0.07 -0.03 3.36 0.11 0.04 0.01 3.37
FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25
$34M
Working capital ($M) Bank facilities ($M) 4.0 Return on Cap Emp (%) 65.3%
16.02 Equipment finance
Guarantee
Overdraft $21.0M
2.0
40.1%
37.7%
$14.5M 28.0
$12M 2.0
$8M 2.0 17.0 26.6%
5.0 10.0
5.12 3.0
12.5%
-1.28 -0.45 0.10 5.0 5.0
2.5 2.0 2.0
Sep-22 Nov-23 May-24 Sep-24 Aug-25 FY21 FY22 FY23 FY24 FY25
FY21 FY22 FY23 FY24 FY25
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9

Order book and pipeline signal further growth

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Total work on hand ($M) Repeat Business (%) Pipeline of Opportunities
Data Centres & $244,354,068
304 Technology
96 94 Corporate $51,554,613
87
85 85 Government $20,548,072
Sports,
75 Entertainment $15,984,858
73
& Hospitality
200 Aged Care & $10,341,465
53.1% CAGR Healthcare
174
Education $9,808,424
Defence $9,341,984
Retail $6,405,681
96
86
Banking &
$6,378,534
Finance
Rail, Transport,
45 47 45 Logistics & $6,281,035
39
Warehousing
Smart Buildings $5,361,158
& Utilities
Dec 21 Jun 22 Dec 22 Jun 23 Dec 23 Jun 24 Dec-24 Jun-25 Nov-25 FY19 FY20 FY21 FY22 FY23 FY24 FY25
Mining & $2,973,475
Resources
Total Open Tenders
Manufacturing $347,635
Quantity: 1,174
Airports $172,637 Value: $390.9 million
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All data taken as at XX November 2025

10

SKS Indigenous Technologies achieving milestones

48.7%

298.3%

76.5% 47.1%

Electrical and communications solutions for the Munarra Centre of Excellence in Shepparton, VIC

Project name: Scope:

Location:

Completion: New contract:

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12
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Project name:

Scope:

Location:

Completion:

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Qantas Adelaide Lounge
Precinct
Electrical installation for
the new Qantas Lounge
including Qantas Club,
Domestic Business, and
Chairman's Lounge. Works
were executed in stages to
minimize disruption to
customers while lounges
remained in operation
Adelaide, South Australia
July 2025
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People and culture – SKS Ignite

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Employee rewards and recognition program Discounts Values Recognition & rewards Wellbeing support Centralised Communications

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Sustainability

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LTI for 1,144,943 hours
1 worked in FY25 Fleet CO2 Emissions Reductions (t) LTIs & Hours worked
1,144,943
Hours worked
Serious injuries in >11 750,900
1 LTIs
0
year life of business
591,120
677,280
Increase in number 526,140
35.9%
of employees on pcp
504,969
349,004
Increase in productive
69.1% 138,050
hours on pcp
0 0 1 0 1
FY24 baseline FY25 Ongoing FY21 FY22 FY23 FY24 FY25
Reduction in annual
29.9% CO emissions
2
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15

Outlook and FY26 forecast

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FY26
Revenue Forecast
~$320M
PBT Margin 9%
Unrelenting Enhanced Enhanced
market PBT $28.8M operating operating
Strong demand across all demand platform platform Workforce, systems and
market sectors, with processes evolving as the
significant and accelerating business expands to
growth forecasts in the data provide optimal
centre sector operating platform
Rapidly Strong
accelerating balance
pipeline sheet to
Flexible
growth fund growth
growth
Project pipeline continues strategy Robust level of cash
to grow with high levels of generation and working
activity for both data centre work capital and the 61.9%
as well as the strong drivers of the increase in operating bank
traditional business – corporate, facilities to support organic growth
defence, education, government and
aged care and healthcare Positioned for both organic growth as well as
opportunistic acquisition, with further benefits derived
from margin and capital allocation focus
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Appendices

1. Company snapshot

2. Who We Are

3. 3.Market Sectors

4. Key Financial Metrics

5. Historical Profit and Loss

6. Historical Balance Sheet

7. Historical Cash Flows

Electrical and communications infrastructure upgrades at Roy Hill Mine in the Pilbara Region, WA

23

Company snapshot

**SKS Share Price (Closing) Chart ***

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4.50
4.00
3.50
3.00
2.50
2.00
1.50
Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov
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Directors and Executives

**Market Information ***

**Share Register Composition ***

Peter Jinks Executive Chairman Greg Jinks Executive Director Terrence Grigg Non-Executive Director Antoinette Truda Non-Executive Director Matthew Jinks Chief Executive Officer Gary Beaton Chief Financial Officer	Shares on Issue 114,708,308
	Options on Issue 0
	Market Cap $388.86M
	52-Wk Range $1.385 - $4.480
	AV Volume/Day 433,292

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Other
Shareholders
33.2%
66.8%
Top 20 Shareholders
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• Information current as at closing on 19/11/2025

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Who we are ASX:SKS 9 950+ Publicly listed Locations nationally Staff nationally (700+ in VIC) 2,500+ $320M 100+ Projects completed 2024 Current FY26 revenue forecast Trade vehicles

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Audio Visual

• Video conferencing/collaboration spaces

• Unified communications

• Digital signage

• Video walls

• Digital audio systems

• Remote monitoring/helpdesk support

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Communications

• Design and installation of copper and fibre structured cabling systems

• Wireless access networks and surveys

• Smart buildings and converged networks

• Network management

• Managed services and remote hands

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Electrical Solutions

• Electrical design and engineering services

• High voltage systems

• Switchboard and metering

• Generator backup solutions

• Uninterruptible power supplies

• General light and power

• Service and maintenance services

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Market sectors

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Data centres Retail & technology Sports, entertainment Mining & resources & hospitality Banking & finance Airports & airlines Corporate Government Manufacturing Education Healthcare Defence & aged care Rail, transport, Utilities & smart buildings logistics & warehousing

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26

Ke financial metrics y

	1H25 1H24 1H23 ∆ 24 -25 FY26 FY25 FY24 FY23	1H25 1H24 1H23 ∆ 24 -25 FY26 FY25 FY24 FY23	1H25 1H24 1H23 ∆ 24 -25 FY26 FY25 FY24 FY23	1H25 1H24 1H23 ∆ 24 -25 FY26 FY25 FY24 FY23
	Earnings per share (EPS) 5.16 cents 1.66 cents 0.37 cents	105.1%		12.49 cents 6.04 cents 0.58 cents
	Dividend per share 1.0 cents - -	6x		6.0 cents 1.0 cents 0.2 cents
	Return on Equity (ROE) 33.2% 15.0% 7.7%	2.9%		57.2% 54.5% 11.5%
	Return on capital employed (ROCE) 34.9% 17.2% 9.2%	73.1%		65.3% 37.7% 12.6%
	Return on assets (ROA) 7.5% 5.2% 1.3%	14.4%		12.7% 11.1% 2.2%
	Total expenses (including D&A)/sales revenue) 93.3% 96.7% 100.4%	-2.9%		92.7% 95.4% 100.5%
	Total employee benefits/sales revenue 41.2% 35.6% 35.5%	10.6%		42.0% 37.6% 38.2%
	EBITDA/sales revenue 8.5% 5.6% 3.5%	36.4%		9.0% 6.6% 3.3%
	EBIT/sales revenue 7.3% 4.0% 2.0%	53.8%		7.9% 5.2% 1.6%
	Work on hand at 1H and FY end $174m $86m $47m	108.7%		$200.39m $96m $45m
	Working capital $9.85m $1.65m ($0.24m)	212.9%		$16.02m $5.12m $0.10m
	Debt facilities (access to) - overdraft - - -	0%	$2m	$2m $2.5m $5m
	- bank guarantee - - -	64.7%	$28m	$17m $10m $3m
	- equipment finance - - -	100%	$4m	$2m $2m -
	Net profit before tax as a % of total revenue 7.2% 3.4% 0.9%	66.7%		7.9% 4.8% 0.6%
	Net profit after tax as a % of total revenue 5.0% 3.4% 0.9%	8.2%		5.4% 4.9% 0.8%
	Net tangible assets backing per share 12.08 cents 3.28 cents 1.64 cents	166.8%		18.1 cents 7.57 cents 1.67 cents
	Net assets backing per share 15.6 cents 6.5 cents 4.8 cents	100.9%		21.7 cents 10.9 cents 5.0 cents
	Shareholder equity as a % of total assets 22.6% 20.3% 16.2%	7.4%		22.2% 20.3% 19.1%
	Long-term debt - - -	-		- - -
	Share price at end of period $1.84 $0.30 $0.18	87%		$1.87 $1.00 $0.15
	Number of shares on issue 112,069,879 109,799,355 109,382,153	-		113,069,879 111,799,355 109,382,153
	Market capitalisation at end of period $206.21m $32.94m $31.84m	88.6%		$210.88m $111.80m $16.41m

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Historical rofit & loss b full ear p y y

A$000s	∆ 24 -25 FY25 FY24 FY23 FY22 FY21
Revenue & other income	Sales 92.0% 261,655.0 136,309.2 83,268.1 67,288.4 35,599.2
	Other income 7.5x 1,573.3 208.4 902.3 1,838.0 1,469.3
	Total Revenue & other income 92.8% 263,228.3 136,517.6 84,179.4 69,126.4 37,068.5
Expenses	Raw materials, consumables & logistics (70.5%) (123,371.4) (72,345.0) (46,854.4) (38,174.0) (22,245.1)
	Employee benefits (114.6%) (110,006.6) (51,260.5) (31,814.5) (25,669.6) (11,355.2)
	Occupancy (32.7%) (180.4) (135.9) (170.5) (185.5) (122.5)
	Administration (43.5%) (5,399.0) (3,763.3) (2,624.4) (1,645.4) (1,350.7)
	Depreciation & amortisation (47.3%) (2,837.3) (1,925.7) (1,407.4) (917.6) (549.2)
	Finance charges (10.1%) (647.9) (588.3) (772.1) (530.8) (242.7)
	Total expenses (86.47%) (242,442.6) (130,018.8) (83,643.3) (67,122.9) (35,865.4)
EBITDA	161.2% 23,473.0 8,987.6 2,704.1 3,451.3 1,994.3
EBIT	192.2% 20,635.7 7,061.9 1,296.7 2,533.7 1,445.1
Profit/(loss) before tax	219.8% 20,785.7 6,498.8 527.1 2,003.5 1,203.2
	(Tax)/tax benefit -53.7x (6,756.7) 125.8 105.0 1,020.0 540.0
Profit/(loss) after tax	111.8% 14,029.0 6,624.6 632.1 3,023.5 1,743.2
	Profit/(loss) from discontinued operations - - - - (0.9) 423.3
Profit/(loss) for year	111.8% 14,029.0 6,624.6 632.1 3,022.6 2,166.5
Profit attributable to members after minority interest 109.9% 13,770.5 6,559.7 752.8 - -

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Historical balance sheet by full year

A$000s	FY25 FY24 FY23 FY22 FY21
Current assets	Cash & equivalents 32,477.0 3,366.7 8.6 39.5 109.2
	Trade & other receivables 61,903.9 42,308.0 18,080.5 20,173.1 11,477.1
	Inventories 43.4 142.1 49.3 102.9 46.5
	Other current assets 345.1 302.5 369.2 287.7 123.7
	Total current assets 94,769.4 46,119.3 18,507.6 20,603.3 11,756.4
Non- current assets	Trade and other receivables - - - 414.9 -
	Plant & equipment 5,551.4 4,028.1 1,826.7 1,746.7 1,381.4
	Right of use assets 5,928.2 5,916.3 4,872.3 4,216.3 928.6
	Intangible assets 1,998.5 1,883.7 1,901.0 1,919.4 1,898.1
	Other non- current assets 0.1 0.1 0.1 115.7 140.0
	Deferred tax asset 2,117.6 1,797.3 1,665.0 1,560.0 540.0
	Total non-- current assets 15,595.8 13,625.5 10,265.1 9,972.9 4,888.2
Total assets	110,365.2 59,744.7 28,772.7 30,576.2 16,644.6

A$000s	FY25 FY24 FY23 FY22 FY21
Current liabilities	Trade & other payables 68,432.9 36,838.7 14,174.5 15,720.7 11,230.9
	Borrowings - - 1,761.3 2,664.0 -
	R&D liability payable - - - 500.8 500.8
	Provisions 4,337.3 3,115.3 1,642.0 1,350.0 859.0
	Lease liabilities 1,393.4 1,039.3 826.0 816.5 448.5
	Income tax payable 4,540.9 6.5 - - -
	Total current liabilities 78,749.5 40,999.9 18,403.7 21,051.9 13,039.3
Non-current liabilities	R&D liability payable - - - 229.0 821.5
	Provisions 74.5 43.8 86.8 40.2 24.7
	Lease Liabilities 6,997.0 6,555.4 4,795.8 4,185.3 939.6
	Total non-current liabs 7,071.5 6,599.2 4,882.6 4,454.5 1,785.8
Total liabilities	85,821.0 47,599.1 23,286.3 25,506.4 14,825.1
Net assets / (deficiency) 24,544.2 12,145.6 5,486.4 5,069.8 1,819.5
Equity	Contributed equity 23,076.7 22,615.7 22,359.1 22,072.8 22,085.7
	Share option reserve 160.0 - 2.5 230.9 -
	Accum loss/profit 1,104.7 (10,414.3) (16,754.5) (17,233.9) (20,266.2)
	Equity attributable to group equity holders 24,341.4 12,201.3 5,607.0 5,069.8 1,819.5
	Non-controlling interest 202.8 (55.7) (120.6) - -
	Total equity 24,544.2 12,145.6 5,486.4 5,069.8 1,819.5

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29

Historical cash flows by full year

A$000s	FY25 FY24 FY23 FY22 FY21
Cash flows from operations	Receipts from customers 302,446.1 132,856.5 94,433.5 64.903.1 34,694.9
	Receipts from government incentives 65.7 41.1 759.4 1,717.9 1,528.4
	Payments to suppliers & employees (265,070.5) (123,888.8) (91,471.0) (66,989.7) (34,540.4)
	Interest received 691.5 16.7 2.1 0.4 0.7
	Interest paid (incl lease liabs) (611.5) (509.5) (801.5) (527.4) (253.5)
	Income tax paid (2,497.2) - - - -
	Net cash from (used in) operations 34,988.0 8,419.1 2,922.5 (895.6) 1,430.0
Cash flows from investing	Payment for plant & equipment (2,412.7) (2,179.7) (656.0) (766.9) (314.6)
	Proceeds from disposal of plant & equipment 126.5 19.6 54.9 2.0 24.5
	Payment for intangibles (140.5) (4.5) (6.9) (47.4) (24.8)
	(Payments to) / proceeds from bank guarantees 19.5 7.2 251.5 (114.6) (46.9)
	Payment for acquiring business – APEC - - - - (66.3)
	Proceeds from sale of discontinued operations - - - 142.0 1,187.6
	Net cash from investing activities (2,407.1) (2,157.4) (356.5) (784.9) 759.6

r
A$000s	FY25 FY24 FY23 FY22 FY21
Cash flows from financing	(Payments to) / proceeds from issue of options/shares (28.9) (3.7) (1.4) (12.9) (8.9)
	Payment to buy back shares - - - - (13.1)
	Payment of lease liabilities (1,190.4) (919.2) (870.1) (552.1) (425.6)
	Net (repayment of)/ proceeds from borrowings - (1,761.3) (902.7) - -
	Proceeds from borrowings - - - 66,114.6 31,856.8
	Repayments of borrowings - - - (63,450.6) (33,258.4)
	Repayment of R&D liability - - (249.3) (488.2) (460.4)
	Dividends paid (2,251.4) (219.5) (273.5) - -
	Net cash used in financing activities (3,470.6) (2,903.6) (2,596.9) 1,610.8 (2,309.5)
Net increase/(decrease) in cash 29,110.3 3,358.1 (31.0) (69.7) (119.8)
Cash & equivalents at start of year 3,366.7 8.6 39.5 109.2 229.0
Cash & equivalents at end of year 32,477.0 3,366.7 8.6 39.5 109.2

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30

Historical rofit & loss b half ear p y y

A$000s	∆ 24 -25 1H25 1H24 1H23 1H22 1H21
Revenue & other income	Sales 116.1% 115,940.2 53,659.8 43,834.3 28,165.6 13,213.5
	Other income 21.4x 555.5 25.9 592.6 1,823.1 1,387.9
	Total Revenue & other income 117.0% 116,495.7 53,685.7 44,426.8 29,998.7 14,601.3
Expenses	Raw materials, consumables & logistics (88.2%) (55,906.2) (29,711.1) (26,040.6) (14,886.1) (8,369.0)
	Employee benefits (149.8%) (47,753.2) (19,117.8) (15,564.1) (11,502.5) (4,486.2)
	Occupancy (21.5%) (81.3) (66.9) (74.8) (95.0) (49.7)
	Administration (50.9%) (2,712.2) (1,797.1) (1,212.2) (716.1) (640.9)
	Depreciation & amortisation (55.9%) (1,343.6) (862.1) (657.6) (404.6) (253.7)
	Finance charges (5.5%) (326.1) (309.1) (471.3) (190.1) (140.0)
	Total expenses (108.5%) (108,122.8) (51,864.1) (44,020.7) (29,058.9) (13,939.6)
EBITDA	227.8% 9,807.3 2,992.2 1,534.7 1,524.2 1,055.3
EBIT	297.3% 8,463.7 2,130.1 877.1 1,119.6 801.6
Profit/(loss) before tax	359.6% 8,372.9 1,821.6 406.2 929.8 661.7
	(Tax)/tax benefit - (2,594.3) - - 420.0 -
Profit/(loss) after tax	217.2% 5,778.6 1,821.6 406.2 1,349.8 661.7
	Profit/(loss) from discontinued operations - - - - (880.0) 371.2
Profit/(loss) for year	217.2% 5,778.6 1,821.6 406.2 1,348.9 1,033.0
Profit attributable to members after minority interest 212.9% 5,630.1 1,799.5 406.2 1,348.9 1,033.0

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31

Historical balance sheet by half year

	A$000s	1H25 1H24 1H23 1H22 1H21 Cash & equivalents 19,626.9 897.7 206.7 52.3 1,051.5 Trade & other receivables 41,656.0 21,814.6 21,409.2 11,327.9 5,925.2 Inventories 406.9 620.2 41.2 8.0 - Assets held for sale - - - - - Other current assets 1,178.6 1,195.8 1,060.1 777.1 334.1 Total current assets 62,868.4 24,528.3 22.,717.3 12,165.3 7,310.8 Trade and other receivables - - - 195.8 - Plant & equipment 4,740.1 2,180.4 1,911.6 1,419.5 179.8 Right of use assets 5,784.1 4,971.7 4,256.3 1,400.8 747.1 Intangible assets 1,909.9 1,891.8 1,906.9 1,908.7 45.6 Other non- current assets 0.1 0.1 107.8 64.6 158.5 Deferred tax asset 1,995.7 1,665.0 1,560.0 960.0 - Total non-- current assets 14,429.9 10,709.0 9,742.7 5,949.4 1,131.0 77,298.3 35,237.3 32,459.9 18,114.6 8,441.8	A$000s	1H25 1H24 1H23 1H22 1H21
	Current assets		Current liabilities	Trade & other payables 45,880.4 19,883.2 16,236.3 10,376.9 6,161.4
				Borrowings - - 3,814.8 209.0 -
				R&D liability payable - - 410.5 500.8 626.0
				Provisions 3,148.0 2,148.9 1,652.3 1,236.4 565.2
				Lease liabilities 1,191.3 847.8 841.3 572.9 407.3
				Liabilities held for sale - - - - -
				Income tax payable 2,799.1 - - - -
				Total current liabilities 53,018.8 22,879.9 22,955.2 12,896.1 7,759.9
			Non-current liabilities	R&D liability payable - - - 485.9 1,005.3
	Non- current assets
				Provisions 62.1 103.3 55.2 19.3 36.4
				Lease Liabilities 6,769.7 5,091.8 4,189.9 1,544.9 394.7
				Total non-current liabilities 6,831.8 5,195.2 4,245.1 2,050.1 1,436.4
			Total liabilities	59,850.6 28,075.0 27,200.3 14,946.2 9,196.3
			Net assets / (deficiency) 17,447.7 7,162.3 5,259.7 3,168.4 (754.4)
			Equity	Contributed equity 22,926.6 22,432.1 22,359.1 22,085.7 20,645.2
				Share option reserve 333.2 3.2 1.7 - -
				Accumulated losses (5,904.9) (15,174.5) (17,020.5) (18,917.3) (21,399.7)
				Equity attributable to group equity holders 17,354.9 7,260.8 5,340.3 3,168.4 (754.4)
				Non-controlling interest 92.8 (98.5) (80.6) - -
	Total assets
				Total equity 17,447.7 7,162.3 5,259.7 3,168.4 (754.4)
				32

Historical cash flows by half year

A$000s	1H25 1H24 1H23 1H22 1H21
Cash flows from operations	Receipts from customers 146,642.8 59,341.5 48,037.8 31,786.7 16,229.4
	Receipts from government incentives 55.2 31.8 552.4 471.3 1,299.2
	Payments to suppliers & employees (127,541.3) (55,230.4) (47,874.0) (31,507.0) (15,691.1)
	Interest received 156.0 0.3 0.2 0.2 0.2
	Interest paid (incl lease liab) (326.4) (327.4) (458.5) (200.2) (101.6)
	Net cash from (used in) operations 18,986.2 3,797.8 258.0 551.0 1,726.2
Cash flows from investing	Payment for plant & equipment (1,028.3) (483.2) (398.9) (319.4) (3.3)
	Proceeds from disposal of plant & equipment 28.3 - 35.8 2.0 9.1
	Payment for intangibles (39.3) (3.0) - (21.8) (24.8)
	(Payments to) / Proceeds from bank guarantees 6.9 17.2 54.8 (51.3) (26.8)
	Payment for acquiring business – APEC - - - - -
	Proceeds from sale of discontinued operations - - - 81.2 1,022.4
	Net cash from investing activities (1,032.4) (469.0) (308.2) (309.4) 976.7

ar
A$000s	1H25 1H24 1H23 1H22 1H21
Cash flows from financing	(Payments to) / proceeds from issue of options/shares (18.7) (1.0) (1.4) - -
	Payment to buy back shares - - - - (13.1)
	Payment of lease liabilities (554.3) (458.0) (433.0) (253.1) (215.2)
	Net (repayment of)/ proceeds from borrowings - (1,761.3) - - -
	Proceeds from borrowings - - 42,260.8 30,065.5 14,287.8
	Repayments of borrowings - - (41,110.0) (29,856.5) (15,689.3)
	Repayment of R&D liability - - (225.5) (254.5) (250.4)
	Dividends paid (1,120.7) (219.5) (273.5) - -
	Net cash used in financing activities (1,693.7) (2,439.7) 217.4 (298.6) (1,880.3)
Net increase/(decrease) in cash 16,260.2 889.1 167.2 (56.9) 822.5
Cash & equivalents at start of year 3,366.7 8.6 39.5 109.2 229.0
Cash & equivalents at end of year 19,626.9 897.7 206.7 52.3 1,051.5

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33

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Further Information

Investor Inquiries Matthew Jinks, CEO Gary Beaton, CFO (03) 9289 5000 investors@sks.com.au

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Specialised electrical and communications infrastructure works for RAAF base Tindal, NT