SSH GROUP LTD — Interim / Quarterly Report 2025

Feb 24, 2025

==> picture [596 x 94] intentionally omitted <==

Half Year Financial Report December 2024

==> picture [596 x 95] intentionally omitted <==

==> picture [596 x 94] intentionally omitted <==

==> picture [596 x 95] intentionally omitted <==

==> picture [596 x 94] intentionally omitted <==

==> picture [596 x 95] intentionally omitted <==

==> picture [596 x 94] intentionally omitted <==

==> picture [596 x 94] intentionally omitted <==

==> picture [596 x 55] intentionally omitted <==

Contents

General Information	4
Directors’ Report	4
Auditor’s Independence Verification	9
Condensed Consolidated Statement of Comprehensive Income	10
Condensed Consolidated Statement of Financial Position	11
Condensed Consolidated Statement of Changes in Equity	12
Condensed Consolidated Statement of Cash Flows	13
Notes to Condensed Consolidated Financial Statements	14
Directors Declaration	26
Independent Auditor’s Review Report	27

2

==> picture [596 x 94] intentionally omitted <==

==> picture [596 x 95] intentionally omitted <==

==> picture [596 x 94] intentionally omitted <==

==> picture [596 x 95] intentionally omitted <==

==> picture [596 x 94] intentionally omitted <==

DIRECTORS’ REPORT

==> picture [596 x 95] intentionally omitted <==

==> picture [596 x 94] intentionally omitted <==

==> picture [596 x 94] intentionally omitted <==

==> picture [596 x 58] intentionally omitted <==

General Information

The consolidated condensed Financial Report of SSH Group Ltd (“the Company”) as at and for the six months ended 31 December 2024 comprise the Company and its subsidiaries (together referred to as “the Group”). The Financial Statements are presented in Australian dollars, which is the Group’s functional and presentation currency.

Registered Office

Level 3, 88 William St, Perth, Western Australia, 6000

A description of the nature of the Group’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 the Directors on 25[th] February 2025.

Directors’ Report

In accordance with the Corporations Act 2001 , the SSH Group Ltd (ABN 79 140 110 130) (referred to hereafter as the ‘Company’), and its subsidiaries (referred to hereafter as the ‘Group’) provides this Report for the six months ended 31 December 2024.

Directors

The Directors who held office during or since the end of the period are:

Bruce Lane	Non-Executive Chairman
Daniel Cowley-Cooper	Managing Director
Stefan Finney	Executive Director

Company Secretary

Carly Terzanidis

Shares and Units on Issue

Shares issued in the Company during the period were unchanged with 65,899,853 on issue.

Principal Activities

During the period, the principal activities of the Group consisted of providing equipment and workforce solutions to the Mining, Civil and Construction Industries.

Dividends

There were no dividends paid, recommended, or declared during the current or comparative period for the six months ended 31 December 2024.

4

==> picture [596 x 58] intentionally omitted <==

1H FY25 Financial Performance

Profit and Loss

==> picture [455 x 103] intentionally omitted <==

Cashflow

==> picture [455 x 66] intentionally omitted <==

Balance Sheet

==> picture [455 x 65] intentionally omitted <==

*The Group reports EBITDA and EBIT as key financial measures that reflect core earnings, adjusted for interest, tax, and for EBITDA depreciation and amortisation.

** Operating asset debt refers to the net balance on the Group’s total hire purchase liabilities that are funding the revenue generating equipment assets.

Non recurring expenses of $319k were incurred during the period for:

• Legal fees $46k

• Corporate and organisational restructuring costs $118k

• Project development spend $153k

Review of Operations

Strategic Focus and Market Positioning

SSH Group has continued to strengthen its position in the Mining, Civil and Construction industries by realigning its businesses and management to service major tier-one clients and also unlock opportunities with mid-tier and junior miners. The Group has actively pursued opportunities through joint ventures, strategic alliances, project management, and asset ownership. Thus, enhancing its market presence and operational capability.

SSH Group has been focused on developing and implementing its strategy to grow and refine its core strategic offerings of:

• rental equipment,

• maintenance,

5

==> picture [596 x 58] intentionally omitted <==

• workforce solutions, and

• project management.

The Group’s strategy is to expand into the industrials minerals sector, and support clients on their projects in the mining, civil, infrastructure construction and quarries sectors.

The Group has commenced restructuring internally to ensure improved efficiencies, enable stronger internal collaboration and unity, drive a more effective brand strategy and further leverage valued existing client relationships.

To further enhance the Group’s capabilities, it is developing strategic alliances and joint ventures with partners that bring supplementary skills and expertise.

Operational Performance and Financial Strength

SSH Group delivered improved financial performance compared to the prior corresponding period, achieving revenue growth and bottom-line improvements. Operational efficiencies were driven by fleet optimisation, enhanced service delivery, and corporate restructuring.

During the half-year, SSH incurred $0.3M in one-off expenses related to its strategic shift towards Mining. Adjusted EBITDA increased by 16% on the same period last year, and debt on revenue generating equipment was reduced by 19% . Positive operating cash flows of $2.6M for the half year further reinforce the Group’s financial resilience.

Business Development and Growth

SSH Group maintained a strong focus on its core business offerings, while also advancing its strategic expansion in the Mining & Civil industries. Key developments during and subsequent to the end of the period include:

• Notice of Preferred Tenderer: Received a non-binding notice for full turnkey mining project management services[1] .

• Strategic Alliance Agreement: Signed a non-binding Heads of Agreement (HOA) with ASX resource company with mining lease in the Kimberley to accelerate the development of their asset[2] .

• Indigenous Partnerships: Strengthened relationships with 100% Indigenous-owned businesses and traditional landowners.

• Supply Chain Expansion: Enhanced capabilities through industry-leading mining service providers, improving geographical reach and technical capacity.

With these initiatives, SSH Group is firmly advancing its focus on Mining Resource and Infrastructure opportunities.

1 Disclosed to ASX on 15/01/2025 2 Disclosed to ASX on 03/02/2025

6

==> picture [596 x 58] intentionally omitted <==

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 Director’s Report.

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

==> picture [172 x 34] intentionally omitted <==

Daniel Cowley- Cooper

Managing Director

25 February 2025

7

==> picture [596 x 104] intentionally omitted <==

==> picture [596 x 106] intentionally omitted <==

==> picture [596 x 105] intentionally omitted <==

==> picture [596 x 105] intentionally omitted <==

FINANCIALS

==> picture [596 x 105] intentionally omitted <==

==> picture [596 x 106] intentionally omitted <==

==> picture [596 x 57] intentionally omitted <==

Auditor’s Independence Verification

==> picture [483 x 223] intentionally omitted <==

==> picture [483 x 223] intentionally omitted <==

==> picture [483 x 113] intentionally omitted <==

==> picture [483 x 111] intentionally omitted <==

9

==> picture [596 x 57] intentionally omitted <==

Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income

For the half year ended 31 December 2024

==> picture [455 x 32] intentionally omitted <==

----- Start of picture text -----

Note 31 Dec 2024 31 Dec 2023
----- End of picture text -----

Revenue NOTE2 Cost of Sales Other income NOTE2 Expenses Employee benefits expense Administration costs Depreciation and amortisation expense Finance costs Occupancy expenses Impairment of assets Profit before income tax Tax benefit / (expense) Net profit for the period Net profit attributable to: Owners of the parent entity Non-controlling interest Earnings per share From operations: Basic earnings per share (cents) Diluted earnings per share (cents)	19,293,721 18,353,245 (12,698,056) (11,043,626)
	6,595,665 7,309,619 23,046 54,040 (2,444,765) (3,134,829) (709,724) (985,754) (2,084,626) (2,044,689) (1,228,037) (1,093,621) (103,238) (69,441) - (17,120)
	48,321 18,205 (15,007) (6,630)
	33,314 11,575
	33,314 11,575 - -
	33,314 11,575
	0.05 0.02 0.05 0.02

10

==> picture [596 x 57] intentionally omitted <==

Condensed Consolidated Statement of Financial Position

As at 31 December 2024

==> picture [457 x 32] intentionally omitted <==

----- Start of picture text -----

Note 31 Dec 2024 30 Jun 2024
----- End of picture text -----

Current Assets Cash and cash equivalents NOTE3 Trade and other receivables 0 Other Assets NOTE5 Total Current Assets Non-Current Assets Property, Plant and Equipment NOTE6 Deferred Tax Assets Intangible Assets NOTE7 Other Non-Current Assets NOTE5 Right of Use Assets NOTE8 Total Non-Current Assets Total Assets Current Liabilities Trade and Other Payables NOTE9 Lease Liabilities 0 Borrowings 0 Provisions 0 Total Current Liabilities Non-Current Liabilities Lease Liabilities 0 Provisions 0 Total Non-Current Liabilities Total Liabilities Net Assets Equity Issued Capital NOTE12 Reserves Accumulated Losses Total Equity	2,202,358 2,601,463 5,670,050 6,779,868 936,702 533,125
	8,809,110 9,914,456
	23,506,469 26,157,788 460,368 475,376 5,642,658 5,648,651 395,799 372,457 646,674 846,930
	30,651,968 33,501,202
	39,461,078 43,415,658
	5,249,371 5,132,844 5,704,196 5,546,941 4,908,625 5,494,106 218,588 363,118
	16,080,780 16,537,009
	15,764,303 19,308,227 30,527 18,268
	15,794,830 19,326,495
	31,875,610 35,863,504
	7,585,468 7,552,154
	8,493,858 8,493,858 1,950,742 1,950,742 (2,859,132) (2,892,446)
	7,585,468 7,552,154

11

==> picture [596 x 57] intentionally omitted <==

Condensed Consolidated Statement of Changes in Equity

For the half year ended 31 December 2024

==> picture [455 x 51] intentionally omitted <==

----- Start of picture text -----

Issued
Retained Total
Note equity / Reserves
Earnings Equity
Capital
----- End of picture text -----

Balance at 01 Jul 2023	Balance at 01 Jul 2023	8,437,674 2,021,540 (3,560,393) 6,898,821
Profit after income tax for the period		- - 11,575 11,575
Total comprehensive income for the		- - 11,575 11,575
year
Capital raising costs		(14,614) (14,614)
Conversion of performance rights		70,798 (70,798) -
Balance at 31 Dec 2023		8,493,858 1,950,742 (3,548,818) 6,895,782
Balance at 01 Jul 2024		8,493,858 1,950,742 (2,892,446) 7,552,154
Profit after income tax for the period		- - 33,314 33,314
Total comprehensive income for the		- - 33,314 33,314
year
Capital raising costs		- -
Conversion of performance rights		- - -
Balance at 31 Dec 2024		8,493,858 1,950,742 (2,859,132) 7,585,468

12

==> picture [596 x 57] intentionally omitted <==

Condensed Consolidated Statement of Cash Flows

For the half year ended 31 December 2024

==> picture [471 x 31] intentionally omitted <==

----- Start of picture text -----

Note 31 Dec 2024 31 Dec 2023
----- End of picture text -----

Cash Flows from Operating Activities Receipts from customers Payments to suppliers and employees Interest received Finance costs Net cash generated by / (used in) operating activities Cash Flows from Investing Activities Proceeds from disposal of property, plant and equipment Purchase of property, plant and equipment Proceeds from sale of investments Net cash (used in) / generated by investing activities Cash Flows from Financing Activities Payment of capital raising/share issue costs Proceeds from borrowings other Repayment of borrowings other Net cash (used in) / provided by financing activities Net (decrease) / increase in cash and cash equivalents Cash and cash equivalents at the beginning of the period Cash and cash equivalents at the end of the financial year NOTE 3

23,297,714 20,135,907 (19,519,573) (16,967,249) 2,772 601 (1,220,104) (1,187,289) 2,560,809 1,981,970 803,366 675,204 (27,583) (445,299) 49 - 775,832 229,905 - (14,613) 2,903,697 298,739 (6,639,443) (2,630,357) (3,735,746) (2,346,231) (399,105) (134,356) 2,601,463 2,049,474 2,202,358 1,915,118

13

==> picture [596 x 57] intentionally omitted <==

Notes to Condensed Consolidated Financial Statements

NOTE 1. Material Accounting Policies

Basis of preparation

SSH Group Limited (Company) is a for-profit company domiciled in Australia. The condensed consolidated interim financial report of the Company as at and for the six months ended 31 December 2024 comprise the Company and its subsidiaries (together referred to as the “Group”).

The Group is a portfolio of industrial service businesses focused on service delivery to the mining, civil and construction industries.

This condensed interim financial report does not include notes of the type normally included in an annual report and should be read in conjunction with the most recent annual financial report, found on the Company’s website at www.sshgroup.com.au.

The accounting policies adapted in preparing this half year financial report are consistent with those adapted in the Group’s 2024 financial report.

Going concern

The half year financial report has been prepared on the going concern basis which contemplates the continuity of normal business activity, the realisation of assets and the settlement of liabilities in the ordinary course of business.

For the period ended 31 December 2024 the Group incurred a profit before tax of $48,321 and net cash outflow for the period of $399,105, whilst net cashflows contributed from operations totalled $2,560,809 (2023: operating cash inflows $1,981,970).

As at the balance date, the Group has a working capital deficit of $7,271,670. However, in monitoring its working capital, the Group excludes the current portion of its hire purchase liabilities with a value of $5,303,936, as at 31 December 2024. These liabilities are supported by the Group’s revenue generating fleet of light vehicles and equipment totalling $23,315,955. These assets are disclosed as non-current assets. Future revenues (through medium to long term contracts) generated by these assets are not recognised as at 31 December 2024 but will be available to meet the debt repayments as and when they fall due.

The Group continues to meet its debt obligations when they fall due.

The ability of the Group to continue as a going concern is principally dependent on the capacity of the entity to continue to generate net cash inflows from operating activities and manage its working capital.

The Directors have prepared a cash flow forecast, which indicates that the Group will have sufficient cash flows to meet all commitments and working capital requirements for the 12-month period from the date of signing this financial report.

Given the Group’s history of raising capital, the Directors are confident of the Group’s ability to raise additional funds if required. Furthermore, the Group has sufficient equity in its assets to generate cash through liquidation of assets or restructure its current debt profile.

Based on the cash flow forecasts and other factors referred to above, the Directors are satisfied that the going concern basis of preparation is appropriate.

14

==> picture [596 x 57] intentionally omitted <==

Should the Group be unable to continue as a going concern it may be required to realise its assets and extinguish its liabilities other than in the normal course of business and at amounts different to those stated in the financial statements. The financial statements do not include any adjustments relating to the recoverability and classification of asset carrying amounts or to the amount and classification of liabilities that might result should the Group be unable to continue as a going concern and meet its debts as and when they fall due.

NOTE 2. Revenue and Other Income

==> picture [452 x 31] intentionally omitted <==

----- Start of picture text -----

31 Dec 2024 31 Dec 2023
----- End of picture text -----

31 Dec 2024 31 Dec 2023	31 Dec 2024 31 Dec 2023
Sources of revenue Revenue from agreements with customers Total revenue Other income Interest received Gain on disposal of property, plant, and equipment Insurance/debtor recoveries Sub lease rental income Total other income Total revenue and other income	19,293,721 18,353,245
	19,293,721 18,353,245
	2,792 600 2,889 32,027 665 21,413 16,700 -
	23,046 54,040
	19,316,767 18,407,285

NOTE 3. Cash and Cash Equivalents
	31 Dec 2023 30 Jun 2024
Cash at bank Cash on hand	2,201,905 2,601,010 453 453 2,202,358 2,601,463

Reconciliation of cash

Cash and cash equivalents at the end of the financial year as shown in the Statement of Cash Flows is reconciled to items in the Statement of Financial Position as follows:

Cash and cash equivalents	2,202,358 2,601,463 2,202,358 2,601,463

15

==> picture [596 x 57] intentionally omitted <==

NOTE 4. Trade and Other Receivables

==> picture [455 x 31] intentionally omitted <==

----- Start of picture text -----

31 Dec 2024 30 Jun 2024
----- End of picture text -----

	31 Dec 2024 30 Jun 2024
Current Trade receivables Accrued income Provision for impairment Total current trade and other receivables Total trade and other receivables	5,078,018 5,941,217 607,770 856,234 (15,738) (17,583)
	5,670,050 6,779,868
	5,670,050 6,779,868

NOTE 5. Other Assets

==> picture [455 x 31] intentionally omitted <==

----- Start of picture text -----

31 Dec 2024 30 Jun 2024
----- End of picture text -----

31 Dec 2024 30 Jun 2024	31 Dec 2024 30 Jun 2024
Current Inventory Prepayments Other Total current other assets Non-Current Security deposits Receivable Borrowing costs prepaid Other non-current assets Total non-current other assets Total other assets	21,498 21,498 910,266 501,627 4,938 10,000
	936,702 533,125
	171,101 168,308 134,957 134,757 82,641 62,292 7,100 7,100
	395,799 372,457
	1,332,501 905,582

16

==> picture [596 x 57] intentionally omitted <==

NOTE 6. Property, Plant, and Equipment

==> picture [455 x 31] intentionally omitted <==

----- Start of picture text -----

31 Dec 2024 30 Jun 2024
----- End of picture text -----

Plant and equipment At cost Accumulated depreciation Motor Vehicles At cost Accumulated depreciation Computers and Office Equipment At cost Accumulated depreciation Leasehold Improvements At cost Accumulated depreciation Total property, plant, and equipment	14,023,311 14,376,755 (3,404,150) (2,827,705)
	10,619,161 11,549,050
	16,547,051 17,380,884 (3,850,257) (2,990,963)
	12,696,794 14,389,921
	467,914 462,024 (399,859) (384,587)
	68,055 77,437
	214,916 214,916 (92,457) (73,536)
	122,459 141,380
	23,506,469 26,157,788

17

==> picture [596 x 57] intentionally omitted <==

==> picture [484 x 51] intentionally omitted <==

----- Start of picture text -----

Computers
Plant and Motor Leasehold
and Office Total
Equipment Vehicles Improvements
Equipment
----- End of picture text -----

Balance at 1 Jul 2024 Additions Disposals Depreciation expense Balance at 31 Dec 2024 Balance at 1 Jul 2023 Additions Disposals Depreciation expense Balance at 30 June 2024	11,549,050 14,389,921 77,437 141,380 26,157,788 11,414 10,190 5,890 - 27,494 (364,858) (844,023) - - (1,208,881) (576,445) (859,294) (15,272) (18,921) (1,469,932)
	10,619,161 12,696,794 68,055 122,459 23,506,469
	10,287,141 12,867,109 137,250 171,561 23,463,061 3,499,403 4,097,157 3,506 6,568 7,606,634 (535,542) (600,262) (21,957) - (1,157,761) (1,701,952) (1,974,083) (41,362) (36,749) (3,754,146)
	11,549,050 14,389,921 77,437 141,380 26,157,788

NOTE 7. Intangibles

==> picture [484 x 32] intentionally omitted <==

----- Start of picture text -----

31 Dec 2024 30 Jun 2024
----- End of picture text -----

Goodwill Cost Accumulated impairment Net carrying amount Website Development Costs Costs Accumulated amortisation and impairment Net carrying amount Total intangible assets	5,622,920 5,622,920 - -
	5,622,920 5,622,920
	84,662 84,662 (64,924) (58,931)
	19,738 25,731
	5,642,658 5,648,651

18

==> picture [596 x 57] intentionally omitted <==

NOTE 8. Right-of-Use Assets

==> picture [455 x 479] intentionally omitted <==

----- Start of picture text -----

31 Dec 2024 30 Jun 2024
Right of use assets
Leased assets 1,620,415 1,785,826
Accumulated depreciation (973,741) (938,896)
Total right of use asset 646,674 846,930
Movement in carrying amounts:
Opening net carrying amount 846,930 1,292,554
Depreciation expense (200,256) (445,624)
Net carrying amount at end of period 646,674 846,930
AASB 16-Related Amounts Recognised in the Statement of Profit or Loss
31 Dec 2024 31 Dec 2023
Right of use assets
Depreciation charge related to right-of-use assets 200,256 222,811
Interest expense on lease liabilities 25,116 38,115
NOTE 9. Trade and Other Payables
31 Dec 2024 30 Jun 2024
Current
Trade payables 4,488,204 4,114,093
Sundry payables and accrued expenses 761,167 1,018,751
Total Trade and other Payables 5,249,371 5,132,844
----- End of picture text -----

19

==> picture [596 x 57] intentionally omitted <==

NOTE 10. Borrowings and Lease liabilities

==> picture [455 x 31] intentionally omitted <==

----- Start of picture text -----

31 Dec 2024 30 Jun 2024
----- End of picture text -----

Current Unsecured borrowings Secured borrowings: Debtor finance facility Bank loans Other Total current borrowings Secured lease liabilities – amortised: Hire purchase liabilities Right of use asset liabilities Total current lease liabilities Total current borrowings and lease liabilities Non-Current Secured lease liabilities – amortised: Hire purchase liabilities Right of use asset liabilities Total non-current lease liabilities Total borrowings and lease liabilities	188,420 - 4,720,205 3,725,597 - 1,421,000 - 347,509
	4,908,625 5,494,106
	5,303,936 5,138,172 400,260 408,769
	5,704,196 5,546,941
	10,612,821 11,041,047
	15,427,229 18,767,198 337,074 541,029
	15,764,303 19,308,227
	26,377,124 30,349,274

20

==> picture [596 x 57] intentionally omitted <==

NOTE 11. Provisions

==> picture [463 x 23] intentionally omitted <==

----- Start of picture text -----

31 Dec 2024 30 Jun 2024
----- End of picture text -----

Opening balance Additional provisions Balance at end of period	381,387 337,579 (132,272) 43,808
	249,115 381,387

Analysis of Provisions

==> picture [463 x 32] intentionally omitted <==

----- Start of picture text -----

31 Dec 2024 30 Jun 2024
----- End of picture text -----

Current Non-current Total provisions	218,588 363,118 30,527 18,269
	249,115 381,387

NOTE 12. Issued Capital

==> picture [455 x 110] intentionally omitted <==

----- Start of picture text -----

31 Dec 2024 30 Jun 2024
65,899,853 fully paid ordinary shares 9,662,753 9,662,753
(30 June 2024; 65,899,853 fully paid ordinary shares)
Less: Share issue and capital raising costs (1,168,895) (1,168,895)
8,493,858 8,493,858
----- End of picture text -----

==> picture [455 x 31] intentionally omitted <==

----- Start of picture text -----

Movement for the period Qty $
----- End of picture text -----

Movement for the period Qty $	Movement for the period Qty $
At the beginning of the reporting period Conversion of performance rights Share issue and capital raising costs At the end of the reporting period	65,899,853 8,493,858 - - - -
	65,899,853 8,493,858

21

==> picture [596 x 57] intentionally omitted <==

NOTE 13. Financial Reporting by Segments

a) Identification of Reportable Segments

The Group operated in two primary segments in the six months to 31 December 2024, Rental Equipment (Rental) and Workforce Solutions (Workforce) . The Corporate segment is the Group’s corporate and shared services function.

b) Segment Results

Segment Performance

==> picture [464 x 31] intentionally omitted <==

----- Start of picture text -----

31 December 2024 Workforce Rental Corporate Total
----- End of picture text -----

	31 December 2024 Workforce Rental Corporate Total	31 December 2024 Workforce Rental Corporate Total	31 December 2024 Workforce Rental Corporate Total
External sales Intersegment sales Total segment revenue Segment profit from operations Depreciation and amortisation Finance and interest costs Tax (expense)/ benefit Net profit 31 December 2023 External sales Intersegment sales Total segment revenue Segment profit from operations Depreciation and amortisation Finance and interest costs Tax (expense)/ benefit Net profit			12,863,639 6,535,082 (105,000) 19,293,721 5,769 41,096 (46,865) - 12,869,408 6,576,178 (151,865) 19,293,721 546,573 3,833,705 (1,019,294) 3,360,984
			(35,467) (1,945,695) (103,464) (2,084,626) (201,701) (1,014,512) (11,824) (1,228,037) 39,106 (251,067) 196,954 (15,007)
			348,511 622,431 (937,628) 33,314
			Workforce Rental Corporate Total
			11,853,918 6,566,665 (67,338) 18,353,245 102,388 97,405 (199,793) -
			11,956,306 6,664,070 (267,131) 18,353,245
			622,316 3,928,330 (1,377,012) 3,173,634
			(37,647) (1,887,093) (137,068) (2,061,808) (112,922) (960,590) (20,109) (1,093,621) (87,422) (392,552) 473,344 (6,630)
			384,325 688,095 (1,060,845) 11,575

22

==> picture [596 x 57] intentionally omitted <==

Segment Assets and Liabilities

==> picture [456 x 32] intentionally omitted <==

----- Start of picture text -----

Workforce Rental Corporate Total
----- End of picture text -----

Segment assets 31 December 2024 30 June 2024 Segment liabilities 31 December 2024 30 June 2024	7,524,125 25,931,392 6,005,561 39,461,078 8,701,099 26,826,872 7,887,687 43,415,658
	5,347,449 25,130,102 1,398,059 31,875,610 6,997,109 27,960,219 906,176 35,863,504

NOTE 14. Related Party Transactions

The following persons were Directors during the financial period, and this table contains details of the benefits and payments received during the period:

==> picture [455 x 32] intentionally omitted <==

----- Start of picture text -----

31 Dec 2024 31 Dec 2023
----- End of picture text -----

Executive Director Salaries Daniel Cowley Cooper Stefan Finney Director Fees and Services Provided Bruce Lane Chairman Daniel Cowley Cooper Managing Director Stefan Finney Executive Director Matthew Foy Company Secretary (Retired) Sonu Cheema Company Secretary (Retired) Carly Terzanidis Company Secretary (since 1 Sept 2024)	159,219 166,530 147,096 153,750
	306,315 320,280
	- 24,400 - 25,000 - 25,000 - 6,000 8000 4,000 17,000 -
	25,000 84,400

23

==> picture [596 x 57] intentionally omitted <==

NOTE 15. Subsequent Events

There have been no subsequent events post 31 December 2024 that would affect the interpretation of these financial statements, prior to the signing of these accounts.

NOTE 16. Commitments

Other than as elsewhere disclosed in this half year report there no material commitments for the Group as of 31 December 2024 (30 June 2024 nil).

NOTE 17. Contingencies

There are no Contingent Liabilities as of 31 December 2024 (30 June 2024 nil)

24

==> picture [596 x 94] intentionally omitted <==

==> picture [596 x 95] intentionally omitted <==

==> picture [596 x 94] intentionally omitted <==

==> picture [596 x 95] intentionally omitted <==

==> picture [596 x 94] intentionally omitted <==

DECLARATION

==> picture [596 x 95] intentionally omitted <==

==> picture [596 x 94] intentionally omitted <==

==> picture [596 x 94] intentionally omitted <==

==> picture [596 x 57] intentionally omitted <==

Directors’ Declaration

The Directors of the Company declare that:

1. The financial statements and notes as set out on pages 10 to 24, are in accordance with the Corporations Act 2001 , and:

• i. Comply with Accounting Standard AASB 134: Interim Financial Reporting ; and

• ii. Give a true and fair view of the Consolidated Entity’s financial position as at 31 December 2023 and of its performance for the half year ended on that date.

2. In the Directors’ opinion there are reasonable grounds to believe that the Consolidated Entity will be able to pay its debts as and when they become due and payable.

This declaration is made in accordance with a resolution of the Board of Directors pursuant to section 305(5)(a) of the Corporations Act 2001 (Cth) and is signed for and on behalf of the Directors by:

==> picture [172 x 34] intentionally omitted <==

Daniel Cowley-Cooper Managing Director 25th February 2025

26

==> picture [596 x 57] intentionally omitted <==

Independent Auditor’s Review Report

==> picture [441 x 250] intentionally omitted <==

==> picture [441 x 251] intentionally omitted <==

==> picture [441 x 125] intentionally omitted <==

27

==> picture [596 x 57] intentionally omitted <==

==> picture [453 x 253] intentionally omitted <==

==> picture [453 x 253] intentionally omitted <==

==> picture [453 x 127] intentionally omitted <==

28