Annual report
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1 APPENDIX 4E Intelligent Monitoring Group Limited F Y 2 6 F I N A L R E P O R T 1. COMPANY DETAILS Name of entity: Intelligent Monitoring Group Limited ABN: 36 060 774 227 Reporting period: For the year ended 30 June 2026 Previous period: For the year ended 30 June 2025 2. RESULTS FOR ANNOUNCEMENT TO THE MARKET Dividends Comments There were no dividends paid, recommended or declared during the current financial period. $000's Revenues from ordinary activities increased by 16.5% to 203,656 Adjusted EBITDA (refer to reconciliation below) increased by 14.5% to 43,951 Profit from ordinary activities after tax attributable to the owners of Intelligent Monitoring Group Limited increased by 104.6% to 999 Profit for the year attributable to the owners of Intelligent Monitoring Group Limited increased by 104.6% to 999 Adjusted Earnings Per Share The directors consider Adjusted Earnings Per Shares (AEPS) to reflect the underlying performance of the business per share. AEPS is a financial measure not prescribed by Australian Accounting Standards ('AAS') and represents the profit under AAS adjusted for amortisation of customer contracts and significant expenses. AEPS is a key measurement used by management and the board to assess and review business performance and accordingly the table below provides a reconciliation reported Earnings Per Share and Adjusted Earnings per share. EPS (adj) Adjusted Earning per share of 6.01 cents (refer to reconciliation below)
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2 3. NET TANGIBLE ASSETS Reporting period Previous period Cents Cents Net tangible assets per ordinary security (16.60) (13.67) Right-of-use assets have not been treated as intangible assets for the purposes of the tangible asset calculation. Consolidated 2026 ($'000) 2025 ($'000) Profit/(loss) before income tax from continuing operations 866 (14,995) Finance costs 8,497 19,480 Depreciation and amortisation in cost of services 19,660 15,797 Depreciation and amortisation expense 3,475 6,651 EBITDA 32,498 26,933 Adjustments Impairment of receivables 2,993 2,850 Impairment of assets 2,667 4,373 Business acquisition, integration and restructuring costs 4,807 3,820 Share-based payment expense 1,965 947 Interest income (979) (553) Adjusted EBITDA 43,951 38,370 For further details refer to 'Annual Report - 30 June 2026' that follows this Appendix 4E. Adjusted EBITDA The directors consider Adjusted EBITDA to reflect the core earnings of the Group. Adjusted EBITDA is a financial measure not prescribed by Australian Accounting Standards ('AAS') and represents the profit under AAS adjusted for non-cash and significant expenses. Adjusted EBITDA is a key measurement used by management and the board to assess and review business performance and accordingly the table below provides a reconciliation between loss before income tax benefit and Adjusted EBITDA. Consolidated 2026 ($'000) 2025 ($'000) 999 (21,868) 10,119 14,142 2,993 2,850 2,667 4,373 4,807 3,820 1,965 947 23,550 4,264 391,821,299 334,623,810 Profit/(loss) after income tax benefit from continuing operations Adjustments Amortisation Impairment of receivables Impairment of assets Business acquisition, integration and restructuring costs Share-based payment expense Adjusted Profit/(loss) after income tax from continuing operations Weighted Average Number of Shares (note 35) Adjusted earnings per share (cents per share) 6.01 1.27
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3 5. DIVIDEND REINVESTMENT PLANS Not applicable. 6. DETAILS OF ASSOCIATES AND JOINT VENTURE ENTITIES Not applicable. 7. FOREIGN ENTITIES Details of origin of accounting standards used in compiling the report: Not applicable. 8. AUDIT QUALIFICATION OR REVIEW Details of audit/review dispute or qualification (if any): The financial statements have been audited and an unqualified opinion has been issued. The auditor’s report contains a paragraph addressing material uncertainty related to going concern. 9. ATTACHMENTS Details of attachments (if any): The Annual Report of Intelligent Monitoring Group Limited for the year ended 30 June 2026 is attached. 10. SIGNED As authorised by the Board of Directors. Signed Date: 26 August 2026 Dennison Hambling Managing Director 4. CONTROL GAINED OVER ENTITIES Name of entities (or group of entities) Western Advance Pty Ltd (“WAPL”) Date control gained 1 September 2025 Name of entities (or group of entities) B.N.P. Securities Pty Ltd (‘BNP”) Date control gained 1 October 2025 Name of entities (or group of entities) BlueSky Holdco Limited, renamed IMG Holdings NZ Limited Date control gained 29 May 2026
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FY26 ANNUAL REPORT 30 JUNE 2026 ABN 36 060 774 227
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5 Table of contents 5 FINANCIAL STATEMENTS 47 Consolidated statement of profit or loss and other comprehensive income 48 Consolidated statement of financial position 50 Consolidated statement of changes in equity 51 Consolidated statement of cash flows 52 Notes to the consolidated financial statements 53 Consolidated entity disclosure statement 118 Directors' declaration 119 Independent auditor's report to the members of Intelligent Monitoring Group Limited 120 Shareholder information 122 OVERVIEW 5 IMG Overview 6 Corporate directory 8 Chairman's letter 10 Managing Director's letter 11 IMG Businesses 14 Directors’ Report 22 Auditor’s Independence Declaration 46
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6 Who We Are Intelligent Monitoring Group (ASX: IMB) is Australasia's leading technology-enabled security, life safety and monitoring solutions provider, protecting more than 200,000 residential, commercial and government customers across Australia and New Zealand. The Group operates a portfolio of trusted businesses that span the entire security and life safety value chain. Through Intelligent Monitoring Solutions (IMS), IMG provides wholesale monitoring services to more than 800 independent security providers, supported by resilient, A1/R1A-graded monitoring centres and market- leading technology. ADT delivers integrated security, life safety and monitoring solutions directly to homes, businesses and government customers through one of the region's most recognised security brands. Wormald New Zealand is a leading provider of fire protection services, specialising in the inspection, testing, servicing and maintenance of fire suppression and life safety systems, helping businesses and critical infrastructure maintain compliance while protecting people and property. Signature Security Group complements the portfolio by partnering with independent security businesses, providing installation, field services and operational support that enables partners to grow and deliver exceptional customer outcomes. As security and life safety continue to evolve, IMG is leading the industry's transition towards intelligent, technology-enabled protection. Through its advanced Video Guard and Video Monitoring platforms, the Group is transforming traditional alarm monitoring into proactive, AI-enabled surveillance, delivering real-time visual verification, faster response times and improved security outcomes for customers. With a strong foundation of recurring revenue, market-leading monitoring capabilities and a disciplined growth strategy, IMG continues to invest in technology, innovation and strategic acquisitions to strengthen its leadership position and deliver long-term value for customers, partners and shareholders. 6 Major IMG and its Subsidiaries’ Office Locations
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GROWTH JOURNEY & MILESTONE HIGHLIGHTS From Foundation to Scale: Key Milestones Driving Our Growth 2019 2020 2021 2022 2023 2024 2025 2026 Negative Earnings and lack of integration Board Appointments - Dennison Hambling and Peter Kennan as Non-Executive Directors Cost-Cutting Committee Further Funding Improved Performance Resignation of Managing Director and Chairman. Dennison Hambling appointed Executive Director and Peter Kennan appointed Chairman Improved Performance $32m Recapitalisation Acquisitions of AIS and Mammoth to improve scale and connected camera strategy. Mr. Hambling appointed Managing Director ADT Acquisition Announced run-rate EBITDA of $6m on the back of improved monitoring growth and cost-out with AIS Acquisition of ADEVA Security and bring back Signature Security Brand Acquisitions of ACG, AAG and DVL, expanding national footprint in Commercial Security Acquisitions of KOBE and Western Advance, strengthening Commercial Security capability Acquisition of BNP, setting the base to go after Physical Security marketing with Video Guard Acquisition of Red Wolf Security, adding high-level security capability in NZ. Expanding into fire protection with Tyco NZ (Wormald) Acquisition. Expanding geographic footprint with ADT UK Acquisition. 7
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8 Corporate Directory Directors Dennison Hambling Peter Kennan Managing Director Non-Executive Chairman Mark Brisson Rob Hilton Non-Executive Director Non-Executive Director Chris Taylor Non-Executive Director Company Secretary Neil Green
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9 Corporate Directory Registered office Suite 2, 1 Tully Road East Perth WA 6004 Telephone: 1300 THREAT (1300 847 328) Email: investorrelations@theimg.com.au PO Box 8523 CDC Perth WA 6000 Share register MUFG Corporate Markets (AU) Limited Liberty Place, Level 41 161 Castlereagh Street Sydney NSW 2000 Telephone: 1300 554 474 Auditor BDO Audit Pty Ltd Level 19, 30 Pirie Street Adelaide SA 5000 Solicitors Jones Day Riverside Centre, Level 31, 123 Eagle Street Brisbane QLD 4000 Stock exchange listing Intelligent Monitoring Group Limited shares are listed on the Australian Securities Exchange (ASX code: IMB) Website www.intelligentmonitoringgroup.com The directors and management are committed to conducting the business of Intelligent Monitoring Group Limited in an ethical manner and in accordance with the highest standards of corporate governance. Intelligent Monitoring Group Limited has adopted and has substantially complied with the ASX Corporate Governance Principles and Recommendations (Fourth Edition) ('Recommendations') to the extent appropriate to the size and nature of its operations. The Group’s Corporate Governance Statement, which sets out the corporate governance practices that were in operation during the financial year and identifies and explains any recommendations that have not been followed, and the ASX Appendix 4G are released to the ASX on the same day the Annual Report is released. The Corporate Governance Statement can be found at www.intelligentmonitoringgroup.com/corporate-directory Corporate Governance Statement
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10 Chairman’s Letter Dear Fellow Shareholders, I am pleased to present the Annual Report for Intelligent Monitoring Group Limited for the financial year ended 30 June 2026. FY2026 was another year of substantial progress for IMG. Our existing businesses continued to build momentum, while the acquisitions of Wormald New Zealand and Red Wolf significantly strengthened our position in the New Zealand fire, security and life safety markets. Following year end, IMG announced an agreement to acquire the ADT residential security business in the United Kingdom. Subject to completion, this transaction will establish a meaningful position for IMG in one of the world’s largest monitored security markets and represents an important next step in the development of the Group. Each acquisition represents a strategic opportunity to add established operations, recurring revenues, experienced people and strong market positions on attractive terms. Together, they provide greater scale and further opportunities to deploy IMG’s technology and service capabilities across our key markets. For the year ended 30 June 2026, IMG delivered adjusted EBITDA of $44.0 million, in line with guidance, and operating cash flow of $22.0 million. Adjusted net profit after tax was $23.6 million, with adjusted earnings per share of 6.01 cents, at the top end of guidance. These results reflect the underlying strength of the business and the consistent execution of Dennison and his team. IMG continued to invest in its people, operating capabilities and remote video monitoring and AI-enabled security solutions. Growth in the forward work pipeline and increasing adoption of video monitoring provide encouraging evidence that this investment is strengthening our customer proposition and building a more valuable business. The Group now has a much larger operating footprint and, with that, greater responsibility. The Board remains focused on maintaining financial discipline, managing leverage appropriately and ensuring that the businesses added to the Group deliver sustainable value for shareholders. Our priority is to realise the opportunities already before us and to execute well across the enlarged organisation. On behalf of the Board, I would like to thank Dennison and his leadership team for their accomplishments during an exceptionally significant year. I also thank all IMG employees, whose professionalism, commitment and service to our customers underpin the Group’s progress. Finally, I thank our shareholders for their continued support. IMG enters FY2027 with increased scale, strong market positions and a substantial opportunity to create enduring shareholder value. Peter Kennan Chairman Intelligent Monitoring Group Limited (ASX: IMB) 26 August 2026
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11 Managing Director’s Letter Dear Fellow Shareholders, FY2026 concluded with the significant announcement of the acquisition of the ADT residential security business and ADT brand in the UK market. This followed the similarly significant acquisitions of Wormald NZ and Red Wolf, announced in December 2025. While these were significant acquisitions and additions to the business, it was equally pleasing to see the existing business continue to build momentum and deliver strong results. This has given the IMG team confidence and encouragement that the strategy and direction of the business are correct and will enable us to build an enterprise of significance over the next few years across our key markets of New Zealand, Australia and the UK, and our core service areas of Security and Fire. The key driver of our growth and expected success remains our openness to, and adoption of, leading technologies, backed by first-class delivery and scale. This is allowing us to move into a position of industry leadership and esteem. Our key strategy of Remote Video Monitoring, delivered via ADT Guard and through our bureau and third-party customers, is showing the emergence of what we expect to become widespread success. We are incredibly proud that, at the time of writing, we have assisted police in apprehending 75 criminals while crimes were being perpetrated, from just over 1,000 sites installed across Australia and New Zealand. We have deterred many more events through our live monitoring and response to potential intruders. This is a new generation of security service, and we expect it will take time to gain broad adoption. Ultimately, however, it is likely to relegate the historic “intrusion” alarm to the annals of history and become the global standard for the next generation of security. In short, for a fraction of the price of a physical guard, we can place a live, real-time guarding service outside a customer’s perimeter, with immediate response capabilities and access to police as and when required. We can create a literal force field of surveillance around a property 24 hours a day and respond to actual or potential threats accordingly. Last year, I mentioned the focused business model that had been put in place around ADT Australia and New Zealand, Signature Security and IMS. It has been great to see these businesses develop and strengthen through this focus, and we have continued to invest in them to support future growth and profitability. We exited the year with a record forward work pipeline, significant quarter-on- quarter growth in our video services, albeit from a small base, and an increase in the number of external security companies choosing to work with our independent wholesale monitoring operation on behalf of their clients. While this affected short- term profitability, it positions us to grow into the future. A key part of our journey remains focusing on and living our core values: Transparency, Inclusiveness and Excellence. I strongly believe these values are essential to making IMG the leading player in our industry, not just in the short term, but in an enduring way. with a focused mindset.
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12 Managing Director’s Letter I am very proud of the leadership and management team that has come together at IMG and the way they have increasingly embraced and demonstrated these values. With the addition of the ADT UK business, IMG will have grown from a business of 600 people in FY25 to ~1,400 people once the UK transaction settles. I am excited to see what a larger group of people, who understand the value and importance of what they and we do, can achieve with a focused mindset. In a business such as ours, which operates 24 hours a day, 365 days a year, it takes a team of dedicated, caring and high-performing people to deliver the service our customers rely on day in and day out. I am incredibly proud to be part of that team. In terms of the IMG business, FY2026 sees us exit the year, on a pro forma basis, as a business generating >$460m in revenue, >$130m in adjusted EBITDA and >$100m in cash flow before interest and tax. This is a remarkable position to be in, given the business’s starting point five years ago. I look forward to sharing further updates at the upcoming Annual General Meeting. Dennison Hambling Managing Director Intelligent Monitoring Group Limited (ASX: IMB) 26 August 2026
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13 Group Vision & Values Transparency Inclusiveness We have the courage to be honest and share information, taking accountability for our actions. We respect and trust one another, regardless of our differences. Excellence We strive to be leaders with a commitment to continuous improvement & celebrating our successes. To be the leader in protecting people, asset and environments through integrated security, fire protection, and life-safety solutions. We will do this by providing the best professional service at the best value, with the latest technology available anywhere.” “
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14 Our Brands Australia & New Zealand Direct to market Australia Partner to Industry Australia Wholesale Monitoring Business New Zealand Direct to market
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15 ADT Australia Group For more than 50 years, ADT has stood alongside Australian homes and businesses. Our reputation for protection goes beyond a sticker on the window and a camera on the wall, it is a commitment to safety, a commitment to protect what matters most. As technology has evolved, so have we. With AI- enhanced detection, real-time monitoring and trained response, we deliver protection that is proactive, intuitive, tested and trusted. We extend this commitment through scalable, intelligent security solutions. We bring powerful, reliable monitoring to homes and communities across Australia and help business owners safeguard their people, assets and livelihood with systems that adapt as their business grows. At the centre of Australia’s most demanding security environments, the ADT Integrated Security Group unites Australia’s leading commercial security specialists under one national network. Together, we deliver advanced, integrated and resilient security solutions for industries where safety and continuity are critical, including mining, aviation, government, finance and infrastructure. Our expertise ensures that Australia’s most important operations remain protected, connected and ready for the challenges ahead. Across residential, business and commercial, ADT represents one powerful promise: protection backed by experience, strengthened by technology and delivered by people who understand the true meaning of security.
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16 ADT is one of New Zealand's most trusted electronic security providers, with more than 50 years of experience delivering integrated security, life safety and monitoring solutions to residential, commercial and government customers across the country. With a nationwide footprint and a team of more than 160 security professionals, ADT delivers end-to-end services including security system design, installation, 24/7 monitoring, maintenance and ongoing customer support. ADT continues to evolve its offering through technology-led innovation, combining intelligent video analytics, AI-powered threat detection, smart home automation and integrated access control to deliver proactive security solutions that help prevent incidents before they occur. The business is focused on providing tailored solutions that enhance safety, reduce operational risk and improve customer outcomes across both residential and commercial markets. Backed by strong local expertise and a long-standing reputation for service excellence, ADT New Zealand remains well positioned to capitalise on the growing demand for connected, technology-enabled security solutions while reinforcing Intelligent Monitoring Group's leadership across Australasia. ADT New Zealand
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17 ADT’s Expertise 24/7 proactive monitoring, actionable insights and a fast response service Tailored and scalable ‘security as a service’ solutions for all Video surveillance solutions with intelligent analytics and Internet of Things (IoT) devices Access control with multiple layers of user and area controls Full remote accessibility, including multiple sites Advanced Technology Integration - Cutting-edge technology to improve security capabilities.
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18 Signature Security Group Signature Security Group (SSG) is a trusted partner to the Australian security industry, dedicated to enabling local security businesses to thrive. By working hand- in-hand with security professionals nationwide, SSG helps protect people, property, and assets while supporting smaller providers in strengthening their capabilities and expanding their reach. SSG’s collaborative model is built on strong industry relationships and a commitment to shared success. Rather than competing with local providers, SSG empowers them - offering access to advanced electronic security solutions, installation support, and scalable services that allow partners to deliver greater value to their customers and communities. A key area of growth is video-led monitoring, where SSG is driving change across the industry. Through advanced video monitoring solutions, real-time verification, and proactive response capabilities, SSG is helping shift the standard of security from reactive alarms to proactive, video-first protection. With a focus on innovation, collaboration, and community protection, Signature Security Group continues to play a pivotal role in building a stronger and more resilient security industry across Australia. 18
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19 Intelligent Monitoring Solutions (IMS) For more than 26 years, Intelligent Monitoring Solutions has been at the forefront of electronic monitoring across Australia. IMS has grown to become the nation’s most extensive, reliable, and progressive provider of monitoring services, supporting bureau partners in safeguarding individuals, homes, businesses, and government agencies alike. With a reputation built on innovation and trust, we are honoured to hold A1R1A certification, a mark of the highest standard in security the industry. 19 Key Strengths Comprehensive Service Offering: Scalable Capacity: We support a variety of technology platforms that can be seamlessly integrated to meet diverse client needs. Our infrastructure is designed to stay ahead of client growth and demand, ensuring consistent, high- quality service. Professional Team: We adhere to stringent recruitment and training standards, ensuring that our customers are serviced by the most qualified and experienced staff.
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20 Wormald New Zealand With a heritage spanning more than 130 years, Wormald New Zealand is one of the country's most trusted providers of fire protection and life safety solutions. The business supports thousands of customers across commercial, industrial and critical infrastructure sectors through a comprehensive range of inspection, maintenance, compliance and specialist fire protection services. Operating through a nationwide branch network, Wormald delivers recurring inspection, testing and maintenance services that help customers meet New Zealand's stringent fire safety and Building Warrant of Fitness (BWoF) compliance requirements. Its highly skilled workforce also provides specialised suppression systems, fire detection, engineering support, training and emergency response capabilities. The acquisition of Wormald significantly strengthens Intelligent Monitoring Group's position across New Zealand by establishing a market-leading fire services platform alongside its existing security operations. Wormald's long- standing customer relationships, compliance-driven recurring revenue model and deep technical expertise provide a strong foundation for sustainable growth, while creating opportunities to deliver broader integrated fire, security and monitoring solutions across the Group
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21 Our People & Culture Our people are the driving force behind IMG's success. We are committed to creating an environment where every employee feels supported, valued and empowered to achieve their full potential. We foster a diverse and inclusive culture where people from different backgrounds, experiences and perspectives contribute to our shared success. Through continuous learning, collaboration and leadership development, we are building a workforce that is equipped to support IMG's long-term growth. Our Focus • Inclusive Culture Creating a workplace where everyone can contribute and succeed. • Developing Talent Investing in coaching, learning and leadership opportunities. • Growing Careers Promoting from within and building future leaders across the Group. • Engaged People Supporting long-term careers, with an average employee tenure of 10 years. ~900 full-time employees across Australia and New Zealand under our subsidiaries Approximately 32% female and 68% male employees
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22 Directors’ Report The directors present their report, together with the financial statements, on the consolidated entity (referred to hereafter as the 'Group') consisting of Intelligent Monitoring Group Limited (referred to hereafter as the 'Company' or 'parent entity') and the entities it controlled at the end of, or during, the year ended 30 June 2026. Directors The following persons were directors of Intelligent Monitoring Group Limited during the whole of the financial year and up to the date of this report, unless otherwise stated: Dennison Hambling Managing Director and Deputy Chairman Peter Kennan Non-Executive Chairman Mark Brisson Non-Executive Director Robert Hilton Non-Executive Director Chris Taylor Non-Executive Director (appointed 1 July 2026) Jason Elks Non-Executive Director (resigned 29 June 2026) Principal activities During the financial year the principal continuing activities of the Group consisted of the provision of security, monitoring and risk management services in Australia and New Zealand. Dividends There were no dividends paid, recommended or declared during the current or previous financial year. Review of operations The profit for the Group before income tax benefit from continuing operations amounted to $866,000 (30 June 2025: loss of $14,995,000).
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23 Financial performance FY2026 marked another year of strong performance and significant strategic progress for IMG, reflecting continued momentum across the existing businesses and disciplined execution of the Group’s growth strategy. Adjusted earnings per share of 6.01 cents at the top end of guidance. The acquisitions of Western Advance in September 2025 and B.N.P. Securities in October 2025 expanded IMG’s commercial enterprise security capability, added physical guarding services and created further opportunities to deploy ADT Guard. The addition of Wormald New Zealand and Red Wolf High Security in May 2026 significantly strengthened the Group’s position across New Zealand’s fire, security and life safety markets. These acquisitions bring established operations, recurring revenues, experienced people and strong market positions to IMG. Combined with continued investment in technology, service delivery and remote video monitoring, they represent a step change in the Group’s scale and position IMG for sustainable long-term growth. Revenue from ordinary activities amounted to $203,656,000 (30 June 2025: $174,878,000). The Group measures performance by Adjusted Earnings Before Interest, Tax, Depreciation and Amortisation ('EBITDA') to normalise for: • Accounting treatment of transactions associated with the purchase, integration, restructuring and rationalisation of business assets; and • Non-cash items such as impairment and share-based payments. The directors consider Adjusted EBITDA to reflect the core earnings of the Group. Adjusted EBITDA is a financial measure not prescribed by Australian Accounting Standards ('AAS') and represents the profit under AAS adjusted for non-cash and significant expenses. Adjusted EBITDA is a key measurement used by management and the Board to assess and review business performance and accordingly the table below provides a reconciliation between loss after income tax benefit and Adjusted EBITDA. Consolidated 2026 ($'000) 2025 ($'000) Profit/(loss) before income tax benefit from continuing operations 866 (14,995) Finance costs 8,497 19,480 Depreciation and amortisation in cost of services 19,660 15,797 Depreciation and amortisation expense 3,475 6,651 EBITDA 32,498 26,933 Adjustments Impairment of receivables 2,993 2,850 Impairment of assets 2,667 4,373 Business acquisition, integration and restructuring costs 4,807 3,820 Share-based payment expense 1,965 947 Interest income (979) (553) Adjusted EBITDA 43,951 38,370
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24 The acquisitions during the year have improved the operating performance of the Group. Gross Margin from continuing activities for the period lifted from $51,392,000 to $57,495,000 and the adjusted EBITDA lifted by $5,581,000 on the comparative prior year period to $43,951,000, being largely organic growth over the prior period. The profit for the Group after providing for income tax amounted to $999,000 (2025: loss of $21,785,000). The Group has significantly lower finance costs compared with the prior year in line with the improved cost of borrowing. Depreciation and amortisation expense in cost of services increased against the prior year due to the acquisitions during the year including property, plant and equipment, customer contracts/relationships, brand name and order backlogs. The Group has increased business acquisition and integration costs when compared to the prior year. These costs were incurred as part of the various acquisitions throughout the year, as well as some costs incurred rationalising and restructuring some of the assets associated with previous acquisitions. The net cash from current operating activities amounted to $27,164,000 (2025: $30,941,000), a slight decrease of $3,777,000. The net cash generated from operating activities amounted to $22,014,000 (2025: $10,591,000), an improvement of $11,423,000, mainly driven by an increase in revenue to $203,656,000 (2025: $174,878,000) partly offset by an expected increase in cost of services operations and other cash expenses during the current year. The refund for income tax amounted to $269,000 (2025: $4,422,000), there are no outstanding payment plans with the ATO. Net cash from financing activities amounted to $48,043,000 (2025: $21,260,000), generated from equity raising and the net proceeds from new borrowings. This was offset by net cash used in investing activities that amounted to $51,344,000 (2025: $33,432,000). Net cash of $43,816,000 was paid for the acquisitions of WAPL, BNP, Wormald NZ and Red Wolf and the remainder for investment in capital expenditure. The Group’s net assets as at 30 June 2026 was $52,927,000 (2025: $32,075,000). This increase is driven by the net assets acquired for the business acquisitions in September 2025, October 2025 and May 2026 amounting to $8,221,000, additional share capital raising net of costs amounting to $18,722,000, offset by an increase in borrowings of $37,061,000 when compared with prior year. The directors consider that the Group will continue as a going concern, as explained in note 2 to the financial statements. Outlook The Group enters FY2027 from a strong foundation, with established operations continuing to build momentum, strong cash flow generation and a steadily growing commercial pipeline. Subject to completion, the acquisition of the ADT residential security business in the United Kingdom will establish IMG in one of the world’s largest monitored security markets and extend the Group’s presence across Australia, New Zealand and the UK.
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25 The focus for FY2027 will be on integrating the businesses acquired during FY2026, completing the ADT UK transaction and executing consistently across the enlarged organisation. Growth is expected from the Group’s foundational operations, the established businesses, recurring revenues and experienced teams added through acquisition, and increasing adoption of ADT Guard and remote video monitoring services. Together, these strengths position the Group for another year of material progress as it builds a larger, more capable and increasingly valuable business with sustainable long-term growth. Significant changes in the state of affairs On 1 July 2025, the Company consolidated its ownership of Mammoth Security Pty Ltd by acquiring the remaining shares from Adeva vendors for consideration paid of $1,434,546, comprising an issue of 1,636,364 ordinary fully paid IMG shares at $0.51 per share amounting to $834,546 plus $600,000 in cash. The move refined IMG's go-to-market strategy for its three principal brands: ADT, Signature Security, and Intelligent Monitoring Solutions. Following this, Signature Security launched its "Signature Partner Program" in late August 2025 at the ASIAL conference in Sydney, designed for wholesale customers to access IMG's resources and scale their video monitoring solutions. On 15 July 2025, the Company settled the deferred consideration for the acquisition of ACG Integration Pty Ltd in the agreed amount of $180,766. On 26 August 2025 the Company advised that the historic lenders, TOR/LCI Consortium had exercised the warrants previously issued in accordance with the respective warrant deeds, that were not due to be exercised until 2028, and that the Company had issued 18,742,991 ordinary shares. On 1 September 2025, the Company finalised the purchase of all the shares in Western Advance Pty Ltd (‘WAPL’) for the cash consideration paid of $4,500,000, which is subject to customary adjustments for working capital, cash, and debt amounts on completion. WAPL is a leading provider of surveillance, integrated security and threat detection solutions with a strong presence in Western Australia's Oil & Gas, Energy and Critical Infrastructure sectors, as well as commercial applications in industry and healthcare, and was established in 1993. A post completion payment to finalise working capital adjustments of $837,249 was paid to the vendor in October 2025. On 1 October 2025, the Company finalised the purchase of all the shares in B.N.P. Securities Pty Ltd (‘BNP’) for the cash consideration paid of $4,200,000, which is subject to customary adjustments for working capital, cash, and debt amounts on completion. BNP has a high-quality reputation as a provider of traditional manpower and patrol-based security services which will provide a strong platform for IMG to roll out its ADT Guard video strategy. A post completion payment to finalise working capital adjustments of $217,000 was paid to the vendor in February 2026. On 22 December 2025 the Company successfully completed a placement of 34,500,000 new shares for an amount of $20,010,000 to facilitate the new business acquisitions and provide additional working capital.
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26 On 27 April 2026 the Company appointed Oliver Elsdon as CFO, who subsequently resigned on 22 June 2026. Jason Biddell retained control of this position throughout that time. On 29 May 2026, the Company acquired BlueSky Holdco Limited, renamed to IMG Holdings NZ Limited, for a cash consideration of NZD $45,000,000, subject to customary adjustments for working capital, cash and debt amounts on completion. IMG Holdings NZ is the parent entity for Wormald NZ Limited (formerly Tyco NZ Limited) and Red Wolf Security Limited. Wormald NZ is a leading fire protection service company and Red Wolf is a high-level security provider, with both businesses providing ongoing service, maintenance and installations for commercial customers across New Zealand under the Wormald and Red Wolf brands. The acquisition will materially enhance the Group's commercial footprint in NZ by adding a stable business with a strong revenue base, while also allowing for the introduction of the Group's leading security products to commercial NZ in a significantly enhanced and more rapid fashion. The cash payment was funded from debt provided by National Australia Bank and operating cash flows. This acquisition has been immediately earnings accretive. On 12 June 2026 the Company announced the appointment of a new Board Member, Chris Taylor who joined the board with effect from 1 July 2026. On 29 June 2026 Jason Elks resigned from his position as Non-Executive Director. There were no other significant changes in the state of affairs of the Group during the financial year. Matters subsequent to the end of the financial year On 2 July 2026 the Company announced that it had entered into a binding agreement to acquire ADT's residential security business in the United Kingdom ("ADT UK Residential") for GBP £180 million consideration to be funded from a combination of debt and a placement of IMG shares with the vendor. ADT UK Residential is one of the United Kingdom's most established and recognised residential security providers. On 20 July 2026 the Company appointed David Cavanagh as Chief Financial Officer. No other matter or circumstance has arisen since 30 June 2026 that has significantly affected, or may significantly affect the Group's operations, the results of those operations, or the Group's state of affairs in future financial years. Likely developments and expected results of operations A detailed review of the Group’s operations, including likely developments and plans, is set out in the section titled 'Review of operations' in this annual report.
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27 Business risks The following is a summary of material business risks that could adversely affect the Group’s financial performance and growth potential in future years and how we propose to mitigate such risks. Macroeconomic risks As the products sold by the Group are discretionary for many customers, the Group’s financial performance can be impacted by current and future economic conditions which it cannot control, such as increases in interest rates and inflation. The Group stays abreast of these conditions, focuses on its internal debtor controls and diversifies its customer base to help manage these risks. Competitive market and changes to market trends The Group operates in a highly competitive market. Innovation is constant and superior products that may be released to the market could result in pricing pressures upon our product and result in unfavourable product positioning within the market. We manage this risk through maintaining product development teams that are highly experienced and remain abreast of the latest technological advances and implications for our current and future products. We also continue to invest in our brand which continues to be well regarded within Australia. Privacy and data breach It is the policy of the Group to operate our business in a manner that consistently meets or exceeds the legal rights of persons regarding the privacy and confidentiality of information relating to them by ensuring compliance with the provisions of relevant privacy legislation. We ensure that only such information as is necessary for employment and business purposes is collected and that this information will only be accessible by persons who are specifically authorised to access the information. Work, health and safety (‘WHS’) As part of the Group’s commitment to achieving the principles of health and safety in the workplace, we recognise our moral and legal responsibility to provide a safe and healthy work environment for our staff, contractors, customers, and visitors. This commitment also extends to ensuring the establishment of measurable objectives and targets to ensure continued improvement aimed at the elimination of work- related injuries and illnesses. The Group will continue to fulfil the aims and objectives of its WHS policy by using documented WHS aims, objectives and targets to allow evaluation of our WHS performance. Audits will be carried out to assess the extent to which WHS objectives and targets have been reached, and to assess the continuing suitability of the plan in relation to changing conditions and information regarding hazards, risks, processes, materials, etc., and the concerns of relevant interested parties.
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28 Regulatory compliance The Group is subject to several Australian laws and regulations such as State licencing requirements, consumer protection laws, privacy laws and those relating to workplace health and safety. The Group maintains sufficient internal controls and staff are inducted and trained to ensure continued compliance. All operating staff are personally licensed in accordance with specific State requirements. Cybersecurity and Information technology ('IT') infrastructure During the financial year, the Group engaged the services of a consultant, CrowdStrike. The cybersecurity services were delivered through the CrowdStrike Falcon platform. The consultant delivered cybersecurity prevention policies, 24/7 monitoring of cybersecurity incidents, remediation of incidents and regular reporting. Reliance on key personnel The Group is engaged in activities during the financial year to develop the skills and experience of potential successors as part of its succession planning initiatives. With multiple acquisitions during the financial year, increasing employee numbers to approximately 900, including the addition of several individuals who are vital to the Group’s succession planning. Environmental regulation The Group is not subject to any significant environmental regulation under Australian Commonwealth or State law.
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29 Information on directors Name: Peter Kennan Title: Non-Executive Chairman Qualifications: B.Eng (Hons), GDipAppFin Experience and expertise: Peter is CEO and CIO of Black Crane Capital. The Black Crane Asia Pacific Opportunities Fund, managed by Black Crane Capital, is a substantial shareholder of the Company. Prior to founding Black Crane in 2009, Peter was a leading corporate financier with UBS Asia Pacific. He has 25 years of investment and corporate finance experience across a diverse range of sectors and transactions. With UBS, Peter was Head of Asian Industrials Group for UBS Asia, a corporate finance sector team covering energy and infrastructure, with number 1 team rating in Asia in 2006 and 2007. Peter was also the Head of Telecoms and Media sector team for UBS Australia, specialising in mergers and acquisitions and advising on many large complex transactions. Prior to UBS, Peter spent seven years with BP in a variety of engineering and commercial roles. Other current directorships: None Former directorships (last 3 years): None Special responsibilities: Member of the Audit Committee Interests in shares: 120,648,284 ordinary shares Interests in options: None Interests in rights: None Name: Dennison Hambling Title: Deputy Chairman and Executive Director. Appointed as Deputy Chairman on 9 July 2021 and appointed as Executive Director on 13 August 2021. Appointed as Managing Director on 5 July 2022. Qualifications: M.Com (Hons) in economics, CFA Charterholder Experience and expertise: Dennison is a professional investor and company advisor. Dennison has over 22 years of capital market experience having been head of Public & Private Equity at 360 Capital, CIO at First Samuel, and Portfolio Manager at Cooper investors. He is currently a Non-Executive Director of Cardioscan Pty Ltd. Other current directorships: None Former directorships (last 3 years): None Special responsibilities: Member of the Audit Committee Interests in shares: 3,092,173 ordinary shares Interests in options: None Interests in rights: 8,650,000 performance rights over ordinary shares
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30 Information on directors Name: Robert Hilton Title: Non-Executive Director Experience and expertise: Robert founded The Promotions Factory (now TPF Group) in 1988 and has 34 years of experience in Sales and Marketing. He has built promotional strategies and executed global award winning campaigns for the biggest brands in Australia. Robert is also the founder of Mammoth Technology Group. Other current directorships: None Former directorships (last 3 years): None Special responsibilities: None Interests in shares: 8,799,667 ordinary shares Interests in options: None Interests in rights: None Name: Mark Brisson Title: Non-Executive Director Qualifications: Bachelor of Arts (Political Science), HKIOD Diploma of Directorship and Fellow of the Hong Kong Institute of Directors Experience and expertise: Mark has over 25 years of international experience within the Security, Monitoring, Manpower, Cash Logistics, and Fire industries. He spent 11 years based in Sydney as the President of Chubb Fire and Security Australasia, managing numerous M&A and growth-related activities. During his time in Australia, he also served as the President of The United Technologies Building and Industrial Services Division, which, in addition to Chubb, included the Otis Elevator, Fire and Security Products, and Carrier Businesses. Prior to locating to Australia, he spent 20 years based in Hong Kong where he held various Sales and P&L roles, including General Manager Sales and Marketing Asia, as well as the Managing Director of Chubb/Guardforce Fire and Security covering Hong Kong, Macau, Taiwan, and Southern China. He obtained a BA in Political Science from Simon Fraser University in Canada, holds an HKIOD Diploma of Directorship, and is a Fellow of the Hong Kong Institute of Directors. Mark currently is an Independent Non-Executive Director of the Nasdaq-listed Shine Union Group, and recently joined Vulcan Holdco Pty Ltd. He and advises a number of overseas startups and security-related companies. Other current directorships: None Former directorships (last 3 years): None Special responsibilities: None Interests in shares: 350,018 ordinary shares Interests in options: None Interests in rights: None
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31 Information on directors Name: Chris Taylor Title: Non-Executive Director Qualifications: Graduate Diploma in Business (Marketing) Experience and expertise: Chris is based in Auckland, New Zealand. He brings more than 20 years of senior leadership experience driving business transformation and sustainable profitable growth across the building, appliance and homewares sectors throughout Australia, New Zealand and the Asia-Pacific region. He is the former Chief Executive Officer of The Comfort Group and has extensive end-to-end expertise across manufacturing, supply chain, distribution, commercial operations and retail. Chris has a proven track record of delivering multi-category brand, product and customer experience innovation, while building high-performing teams that drive strong business performance. Other current directorships: None Former directorships (last 3 years): None Special responsibilities: Chairman of the Audit Committee Interests in shares: None Interests in options: None Interests in rights: None 'Other current directorships' quoted above are current directorships for listed entities only and excludes directorships of all other types of entities, unless otherwise stated. 'Former directorships (last 3 years)' quoted above are directorships held in the last 3 years for listed entities only and excludes directorships of all other types of entities, unless otherwise stated. Company secretary Neil Green is the Company Secretary and is also the Company’s Chief Risk Officer. Neil has been with the Company, and its predecessor businesses, since 1998. He holds a Bachelor of Business, and a Bachelor of Laws, and is a Fellow of the Governance Institute of Australia. He has prior experience as a public company secretary and brings a deep breadth of relevant security experience to the senior executive of the Company. Neil does not have any interest in rights over ordinary shares.
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32 Meetings of directors The number of meetings of the Company's Board of directors ('the Board') held during the year ended 30 June 2026, and the number of meetings attended by each director were: Full Board Audit Committee Attended Held Attended Held Dennison Hambling 5 5 2 2 Peter Kennan 5 5 2 2 Mark Brisson 5 5 - - Robert Hilton 5 5 - - Jason Elks 5 5 2 2 Held: represents the number of meetings held during the time the director held office. At the date of this Directors' report, there are currently no nomination, due diligence or operations committees. The directors believe that the Company is not currently of a size nor are its affairs of such complexity as to warrant the establishment of these separate committees. Accordingly, all matters capable of delegation to such committees are considered by the Board in its entirety. Remuneration report (audited) The remuneration report details the key management personnel remuneration arrangements for the Group, in accordance with the requirements of the Corporations Act 2001 and its Regulations. Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the entity, directly or indirectly, including all directors. The remuneration report is set out under the following main headings: ● Principles used to determine the nature and amount of remuneration ● Details of remuneration ● Service agreements ● Share-based compensation ● Additional information ● Additional disclosures relating to key management personnel
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33 Principles used to determine the nature and amount of remuneration The objective of the Group's executive reward framework is to ensure reward for performance is competitive and appropriate for the results delivered. The framework aligns executive reward with the achievement of strategic objectives and the creation of value for shareholders, and it is considered to conform to the market best practice for the delivery of reward. The Board of directors ('the Board') ensures that executive reward satisfies the following key criteria for good reward governance practices: ● competitiveness and reasonableness; ● acceptability to shareholders; ● performance linkage / alignment of executive compensation; and ● transparency. The Board is responsible for determining and reviewing remuneration arrangements for its directors and executives. The performance of the Group depends on the quality of its directors and executives. The remuneration philosophy is to attract, motivate and retain high performance and high quality personnel. The Board has structured an executive remuneration framework that is market competitive and complementary to the reward strategy of the Group. The reward framework is designed to align executive reward to shareholders' interests. The Board has considered that it should seek to enhance shareholders' interests by: ● having economic profit as a core component of plan design; ● focusing on sustained growth in shareholder wealth, consisting of dividends and growth in share price, and delivering constant or increasing return on assets as well as focusing the executive on key non-financial drivers of value; and ● attracting and retaining high calibre executives. Additionally, the reward framework should seek to enhance executives' interests by: ● rewarding capability and experience; ● reflecting competitive reward for contribution to growth in shareholder wealth; and ● providing a clear structure for earning rewards. In accordance with best practice corporate governance, the structure of non- executive director and executive director remuneration is separate.
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34 Non-executive directors' remuneration Fees and payments to non-executive directors reflect the demands and responsibilities of their role. Non-executive directors' fees and payments are reviewed annually by the Board. The Board may, from time to time, receive advice from independent remuneration consultants to ensure non-executive directors' fees and payments are appropriate and in line with the market. The chairman's fees are determined independently to the fees of other non-executive directors based on comparative roles in the external market. The chairman is not present at any discussions relating to the determination of his own remuneration. ASX listing rules require the aggregate non-executive directors' remuneration be determined periodically by a general meeting. The most recent determination was at the Annual General Meeting held on 10 November 2025, where the shareholders approved a maximum annual aggregate remuneration of $600,000. Executive remuneration The Group aims to reward executives based on their position and responsibility, with a level and mix of remuneration which has both fixed and variable components. The executive remuneration and reward framework has four components: ● base pay and non-monetary benefits; ● short-term performance incentives; ● long-term incentives; and ● other remuneration such as superannuation and long service leave. The combination of these comprises the executive's total remuneration. Fixed remuneration, consisting of base salary, superannuation and non-monetary benefits, are reviewed annually by the Board based on individual and business unit performance, the overall performance of the Group and comparable market remunerations. Executives may receive their fixed remuneration in the form of cash or other fringe benefits (for example motor vehicle benefits) where it does not create any additional costs to the Group and provides additional value to the executive. The short-term incentives ('STI') program is designed to align the targets of the business units with the performance hurdles of executives. STI payments are granted to executives based on specific annual targets and key performance indicators ('KPI's') being achieved. KPI's include profit contribution, customer satisfaction, leadership contribution and product management. There was no STI program in place during the reported period. The long-term incentives ('LTI') are share-based payments in the form of performance rights. The performance conditions include increase in shareholders' value relative to the entire market and the increase compared to the Group's direct competitors. Refer to 'Share-based compensation' section below for more information on performance rights issued to executives.
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35 Group performance and link to remuneration Remuneration for certain individuals is directly linked to the performance of the Group. A portion of cash bonus and incentive payments are dependent on defined earnings per share targets being met. The remaining portion of the cash bonus and incentive payments are at the discretion of the Board. Refer to the section 'Additional information' below for details of the earnings and total shareholders return for the last five years. The Board is of the opinion that the continued improved results can be attributed in part to the adoption of performance based compensation and is satisfied that this improvement will continue to increase shareholder wealth if maintained over the coming years. Use of remuneration consultants During the financial year ended 30 June 2026, the Group had not engaged any remuneration consultants to review or advise upon its existing remuneration policies. Voting and comments made at the Company's 2025 Annual General Meeting ('AGM') At the 2025 AGM, 81.0% of the votes received supported the adoption of the remuneration report for the year ended 30 June 2025. The Company did not receive any specific feedback at the AGM regarding its remuneration practices. Details of remuneration Amounts of remuneration Details of the remuneration of key management personnel of the Group are set out in the following tables. The key management personnel ('KMP') of the Group consisted of the directors of Intelligent Monitoring Group Limited and the following persons: ● Neil Green - Chief Risk Officer and Company Secretary ● Jason Biddell - Chief Financial Officer (became Chief Strategy Officer – Acquisitions & Transformation on 27 April 2026 but retained the portfolio of CFO during Oliver’s induction and post his departure.) ● Oliver Elsdon - Chief Financial Officer (appointed on 27 April 2026 and resigned on 22 June 2026)
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36 * Cash bonuses are issued on aa performance basis and are linked to an STI Program. No such program existed in the reporting period. ** The 'Other' category represents motor vehicle allowances and rent payments. Short-term benefits Post- employme nt benefits Equity- settled Share- based payments Cash salary, fees and Cash Super- Terminatio n Performan ce leave bonus * Other ** annuation benefits rights Total 2025 $ $ $ $ $ $ $ Non-Executive Directors: Peter Kennan 55,000 - - - - - 55,000 Robert Hilton - - 56,203 - - - 56,203 Mark Brisson 47,160 - - - - - 47,160 Jason Elks 42,300 - - 4,865 - - 47,165 Executive Directors: Dennison Hambling 403,702 - 30,000 32,401 - 1,881,500 2,347,603 Other Key Management Personnel: Neil Green 214,465 - 16,800 23,442 - 72,750 327,457 Jason Biddell 321,189 - - 30,251 - 169,750 521,190 1,083,816 - 103,003 90,959 - 2,124,000 3,401,778 * Cash bonuses are issued on an adhoc basis and are based on past performance. ** The 'Other' category represents motor vehicle allowances and rent payments. Short-term benefits Post- employme nt benefits Equity- settled Share- based payments Cash salary, fees and Cash Super- Terminatio n Performan ce leave bonus * Other ** annuation benefits rights Total 2026 $ $ $ $ $ $ $ Non-Executive Directors: Peter Kennan 102,500 - - - - - 102,500 Robert Hilton 64,460 - - 137 3,521 - 68,118 Mark Brisson 61,080 - - - - - 61,080 Jason Elks 42,309 - - 5,076 - - 47,385 Executive Directors: Dennison Hambling 422,461 - 30,000 30,000 - - 482,461 Other Key Management Personnel: Neil Green 227,265 - 16,800 25,163 - - 269,228 Jason Biddell 311,503 - - 30,000 - - 341,503 Oliver Elsdon 40,141 - 540 5,628 34,882 - 81,191 1,271,719 - 47,340 96,004 38,403 - 1,453,466
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37 The proportion of remuneration linked to performance and the fixed proportion are as follows: Fixed remuneration At risk - STI At risk - LTI Name 2026 2025 2026 2025 2026 2025 Non-Executive Directors: Peter Kennan 100% 100% - - - - Robert Hilton 100% 100% - - - - Mark Brisson 100% 100% - - - - Jason Elks 100% 100% - - - - Executive Directors: Dennison Hambling 100% 20% - - - 80% Other Key Management Personnel: Neil Green 100% 78% - - - 22% Jason Biddell 100% 67% - - - 33% Service agreements Remuneration and other terms of employment for key management personnel are formalised in service agreements. Details of these agreements are as follows: Name: Peter Kennan Title: Non-Executive Chairman Agreement commenced: 20 January 2020 Term of agreement: Peter’s appointment has been made pursuant to the Company’s Constitution and he will be required to retire by rotation periodically in accordance with the Constitution. Peter may resign from office at any time. Details: Peter’s remuneration is set at $55,000 per annum from 9 July 2021 plus statutory superannuation, where applicable. Name: Dennison Hambling Title: Managing Director Agreement commenced: 1 July 2022 Term of agreement: The agreement may be terminated by either the Company or Dennison by giving at least three months’ notice. Dennison is also prohibited from competing with the Company for three months following the termination. If the Company enforces this restriction, the Company will continue to pay Dennison his remuneration during that period. Details: Dennison’s remuneration is set at a base of $375,000 per annum (inclusive of statutory superannuation) plus any performance rights as proposed and approved by the Board and shareholders.
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38 Key management personnel have no entitlement to termination payments in the event of removal for misconduct. Name: Neil Green Title: Chief Risk Officer and Company Secretary Agreement commenced: 12 September 2022 Term of agreement: The agreement may be terminated by either the Company or Neil by giving at least three months’ written notice. Neil is also prohibited from competing with the Company for three months following the termination. If the Company enforces this restriction, the Company will continue to pay Neil his remuneration during that period. Details: Neil’s remuneration is set at a base of $215,000 per annum (exclusive of statutory superannuation and car allowance) plus any share based payments in line with the employee share payment incentive scheme approved by the Board. Name: Jason Biddell Title: Chief Financial Officer Agreement commenced: 8 February 2024 Term of agreement: The agreement may be terminated by either the Company or Jason by giving at least four weeks’ written notice. Jason is also prohibited from competing with the Company for three months following the termination. If the Company enforces this restriction, the Company will continue to pay Jason his remuneration during that period. Details: Jason’s remuneration is set at a base of $310,000 per annum (exclusive of statutory superannuation) plus any share based payments in line with the employee share payment incentive scheme approved by the Board. In April of 2026, Jason took on the new role of Chief Strategy Officer – Acquisitions & Transformation ahead of the settlement of IMG Holdings NZ Limited and with a view to the ADT UK acquisition. Name: Oliver Elsdon Title: Chief Financial Officer Period of Agreement: 27 April to 22 June 2026 Term of agreement: The agreement may be terminated by either the Company or Oliver by giving at least four weeks’ written notice. Oliver is also prohibited from competing with the Company for three months following the termination. If the Company enforces this restriction, the Company will continue to pay Oliver his remuneration during that period. Details: Oliver’s remuneration is set at a base of $310,000 per annum (exclusive of statutory superannuation) plus any share based payments in line with the employee share payment incentive scheme approved by the Board.
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39 Share-based compensation Performance rights The terms and conditions of each grant of performance rights over ordinary shares affecting remuneration of directors and other key management personnel in this financial year or future reporting years are as follows: Number of Share price Fair value rights Vesting date and Cancellati on/ hurdle for per right Name granted Grant date exercisable date expiry date vesting at grant date Dennison Hambling 4,500,000 26/10/2023 Various * 31/12/2026 $0.300 $0.190 Dennison Hambling 1,500,000 26/10/2023 Various * 30/06/2027 $0.300 $0.190 Dennison Hambling 2,650,000 29/10/2024 29/04/2026 ** 29/04/2029 $0.000 $0.710 Jason Biddell 350,000 15/01/2025 30/06/2026 ** 30/06/2029 $0.000 $0.485 Neil Green 150,000 15/01/2025 30/06/2026 ** 30/06/2029 $0.000 $0.485 * The rights were valued independently using a Black Scholes pricing model that takes into consideration the terms and conditions on which the award was granted. Key vesting conditions of the rights are as follows: Tranche 1 - 4,500,000 performance rights subject to a service vesting condition that Dennison Hambling remains employed by the Company as at 31 December 2023. Tranche 2 - 1,500,000 performance rights subject to a service vesting condition that Dennison Hambling remains employed by the Company as at 30 June 2024. ** The rights were valued independently, taking into consideration the terms and conditions on which the award was granted. Key vesting conditions of the rights are as follows: 2,650,000 performance rights subject to a service vesting condition that Dennison Hambling remains employed by the Company as at 29 April 2026. 350,000 performance rights subject to a service vesting condition that Jason Biddell remains employed by the Company as at 30 June 2026. 150,000 performance rights subject to a service vesting condition that Neil Green remains employed by the Company as at 30 June 2026.
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40 All performance rights currently on offer have no performance conditions, only service conditions as set out above. The performance rights were issued to align the interests of senior management with Shareholders and to provide an incentive for employees to extend their employment terms with the Group. The experience of senior employees is an important factor in the long‐term success of the Group. Performance rights granted carry no dividend or voting rights. Values of performance rights over ordinary shares granted, and vested and number of rights lapsed for directors and other key management personnel as part of compensation during the year ended 30 June 2026 are set out below: Value of Value of Number of Remunerati on rights rights rights consisting of granted vested lapsed rights during the during the during the for the year year year year Name $ $ % Dennison Hambling - 1,881,500 - - Neil Green - 72,750 - - Jason Biddell - 169,750 - - Additional information The earnings of the Group for the five years to 30 June 2026 are summarised below: 2026 2025 2024 2023 2022 $'000 $'000 $'000 $'000 $'000 Sales revenue 203,656 174,878 121,796 24,273 23,088 Profit/(loss) after income tax 999 (21,785) (3,097) (11,857) (4,177) The factors that are considered to affect total shareholders return ('TSR') are summarised below: 2026 2025 2024 2023 2022 Share price at financial year end ($) 0.54 0.49 0.43 0.16 0.08 Basic earnings per share (cents per share) 0.25 (6.54) (1.23) (9.02) (8.15)
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41 Additional disclosures relating to key management personnel Shareholding The number of shares in the Company held during the financial year by each director and other members of key management personnel of the Group, including their personally related parties, is set out below: Balance at Held prior to Balance at the start of appointm ent the end of the year as director Additions Disposals the year Ordinary shares Dennison Hambling 1,242,173 - 1,850,000 - 3,092,173 Peter Kennan 127,952,875 - 195,409 (7,500,000) 120,648,284 Robert Hilton 8,799,667 - - - 8,799,667 Mark Brisson 200,018 - 150,000 - 350,018 Jason Biddell 20,000 - - - 20,000 138,214,733 - 2,195,409 (7,500,000) 132,910,142 Performance rights holding The number of performance rights over ordinary shares in the Company held during the financial year by each director and other members of key management personnel of the Group, including their personally related parties, is set out below: Balance at Expired/ Balance at the start of forfeited/ the end of the year Granted Exercised other the year Performance rights over ordinary shares Dennison Hambling * 10,500,000 (1,850,000) 8,650,000 Neil Green 150,000 - 150,000 Jason Biddell 350,000 - 350,000 11,000,000 (1,850,000) 9,150,000 * Mr Dennison Hambling’s exercised performance rights were issued on 5 December 2022. The fair value on exercise date was $0.60.
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42 Other transactions with key management personnel and their related parties The following transactions occurred with related parties: Receivable from and payable to related parties There were no trade receivables from or trade payables to related parties at the current and previous reporting date. Loans from related parties There were no loans receivable or payable to related parties at the current and previous reporting date. Terms and conditions All transactions were made on normal commercial terms and conditions and at market rates. This concludes the remuneration report, which has been audited. Shares under option There were no unissued ordinary shares of Intelligent Monitoring Group Limited under option outstanding at the date of this report. Shares under performance rights Unissued ordinary shares of Intelligent Monitoring Group Limited under performance rights at the date of this report are as follows: 2026 2025 Related entity: Moreton Resources Pty Ltd Moreton Resources Pty Ltd is a company controlled by Mr Alexander (Jason) Elks which provided business restructuring services to Intelligent Monitoring Group Limited during the period. 258,765 152,383
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43 No person entitled to exercise the performance rights had or has any right by virtue of the performance right to participate in any share issue of the Company or of any other body corporate. Shares issued on the exercise of options There were no ordinary shares of Intelligent Monitoring Group Limited issued on the exercise of options during the year ended 30 June 2026 and up to the date of this report. Shares issued on the exercise of performance rights The following ordinary shares of Intelligent Monitoring Group Limited were issued during the year ended 30 June 2026 and up to the date of this report on the exercise of performance rights granted: Exercise Number Grant date Expiry date price under rights 26/10/2023 31/12/2026 $0.000 4,500,000 26/10/2023 30/06/2027 $0.000 1,500,000 29/10/2024 29/04/2026 $0.000 2,650,000 15/01/2025 30/06/2026 $0.000 2,300,000 11/11/2025 30/06/2026 $0.000 200,000 11,150,000 Number of Date performance rights granted Exercise price shares issued 05/12/2022 $0.000 1,850,000 Shares under warrants There are no warrants outstanding at the date of this report. Shares issued on the exercise of warrants On 26 August 2025 the historic lenders, TOR/LCI Consortium exercised the warrants previously issued in accordance with the respective warrant deeds, for which the Company has issued 18,742,991 ordinary shares. Grant date Exercise date Exercise price Number under warrant 01/08/2023 26/08/2025 $0.230 18,742,991
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44 Indemnity and insurance of officers The Company has indemnified the directors and executives of the Company for costs incurred, in their capacity as a director or executive, for which they may be held personally liable, except where there is a lack of good faith. During the financial year, the Company paid a premium in respect of a contract to insure the directors and executives of the Company against a liability to the extent permitted by the Corporations Act 2001. The contract of insurance prohibits disclosure of the nature of the liability and the amount of the premium. Indemnity and insurance of auditor The Company has not, during or since the end of the financial year, indemnified or agreed to indemnify the auditor of the Company or any related entity against a liability incurred by the auditor. During the financial year, the Company has not paid a premium in respect of a contract to insure the auditor of the Company or any related entity. Proceedings on behalf of the Company No person has applied to the Court under section 237 of the Corporations Act 2001 for leave to bring proceedings on behalf of the Company, or to intervene in any proceedings to which the Company is a party for the purpose of taking responsibility on behalf of the Company for all or part of those proceedings. Non-audit services BDO NZ acted on behalf of the Company on matters relating to Adeva Home Solutions in New Zealand, regarding Payroll Tax and Income Tax. Officers of the Company who are former partners of BDO Audit Pty Ltd There are no officers of the Company who are former partners of BDO Audit Pty Ltd. Rounding of amounts The Company is of a kind referred to in Corporations Instrument 2026/183, 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.
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45 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 Signed Date: 26 August 2026 Dennison Hambling Managing Director
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Tel: +61 8 7324 6000 Fax: +61 8 7324 6111 www.bdo.com.au BDO Place Level 19, 30 Pirie Street Adelaide SA 5000 GPO Box 2018 Adelaide SA 5001 Australia 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. DECLARATION OF INDEPENDENCE BY ANDREW TICKLE TO THE DIRECTORS OF INTELLIGENT MONITORING GROUP LIMITED As lead auditor of Intelligent Monitoring Group Limited for the year ended 30 June 2026, 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 audit; and 2. No contraventions of any applicable code of professional conduct in relation to the audit. This declaration is in respect of Intelligent Monitoring Group Limited and the entities it controlled during the period. Andrew Tickle Director BDO Audit Pty Ltd Adelaide, 26 August 2026
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2026
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48 Consolidated statement of profit or loss and other comprehensive income For the year ended 30 June 2026 2026 2025 Consolidated Note $'000 $'000 The above consolidated statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes Revenue Revenue from contracts with customers 5 203,656 174,878 Cost of sales - operations (126,501) (107,689) Cost of sales - depreciation and amortisation 7 (19,660) (15,797) Total cost of services (146,161) (123,486) Gross margin 57,495 51,392 Other income 6 2,488 1,506 Interest revenue calculated using the effective interest method 979 553 Expenses Administration (31,703) (25,304) Compliance and regulatory costs (1,245) (1,937) Marketing and business development expenses (2,744) (3,084) Depreciation and amortisation 7 (3,475) (6,651) Business acquisition, integration and restructuring costs (4,807) (3,820) Impairment of receivables (2,993) (2,850) Impairment of assets 7 (2,667) (4,373) Share-based payments expense (1,965) (947) Finance costs 7 (8,497) (19,480) Profit/(loss) before income tax benefit/(expense) 866 (14,995) Income tax benefit/(expense) 8 133 (6,790) Profit/(loss) after income tax benefit/(expense) for the year 999 (21,785) Other comprehensive income Items that may be reclassified subsequently to profit or loss Foreign currency translation (1,782) 690 Other comprehensive income for the year, net of tax (1,782) 690 Total comprehensive income for the year (783) (21,095) Profit/(loss) for the year is attributable to: Non-controlling interest profit/(loss) - 83 Owners of Intelligent Monitoring Group Limited 999 (21,868) 999 (21,785) Total comprehensive income for the year is attributable to: Non-controlling interest - 83 Owners of Intelligent Monitoring Group Limited (783) (21,178) (783) (21,095)
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49 Consolidated statement of profit or loss and other comprehensive income For the year ended 30 June 2026 The above consolidated statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes Cents Cents Earnings per share for profit/(loss) attributable to the owners of Intelligent Monitoring Group Limited Basic earnings per share 35 0.25 (6.54) Diluted earnings per share 35 0.25 (6.54)
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50 Consolidated statement of financial position As at 30 June 2026 The above consolidated statement of financial position should be read in conjunction with the accompanying notes 2026 2025 Consolidated Note $'000 $'000 Assets Current assets Cash and cash equivalents 42,678 23,965 Trade and other receivables 9 34,002 25,874 Contract assets 10 9,042 1,231 Finished goods 4,049 9,007 Other 11 6,449 3,955 Total current assets 96,220 64,032 Non-current assets Trade and other receivables 9 2,800 2,800 Property, plant and equipment 12 23,394 22,901 Right-of-use assets 13 20,296 11,669 Intangibles 14 121,286 87,100 Total non-current assets 167,776 124,470 Total assets 263,996 188,502 Liabilities Current liabilities Trade and other payables 15 29,974 23,192 Contract liabilities 16 6,358 6,821 Borrowings 17 596 271 Lease liabilities 18 7,507 4,137 Income tax payable 8 9,758 6,939 Provisions 19 12,252 10,836 Total current liabilities 66,445 52,196 Non-current liabilities Borrowings 17 120,919 83,210 Lease liabilities 18 13,171 7,936 Deferred tax liability 8 5,443 8,421 Provisions 19 5,091 4,664 Total non-current liabilities 144,624 104,231 Total liabilities 211,069 156,427 Net assets 52,927 32,075 Equity Issued capital 20 160,725 136,515 Reserves 21 3,152 7,557 Accumulated losses (110,950) (112,208) Equity attributable to the owners of Intelligent Monitoring Group Limited 52,927 31,864 Non-controlling interest - 211 Total equity 52,927 32,075
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51 Consolidated statement of changes in equity For the year ended 30 June 2026 The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes Total equity Issued capital Reserves Accumulat ed losses Non- controlling interest Consolidated $'000 $'000 $'000 $'000 $'000 Balance at 1 July 2024 111,602 6,095 (90,340) 128 27,485 (Loss)/profit after income tax expense for the year - - (21,868) 83 (21,785) Other comprehensive income for the year, net of tax - 690 - - 690 Total comprehensive income for the year - 690 (21,868) 83 (21,095) Transactions with owners in their capacity as owners: Contributions of equity, net of transaction costs (note 19) 24,738 - - - 24,738 Share-based payments (note 35) - 947 - - 947 Performance rights exercised 175 (175) - - - Balance at 30 June 2025 136,515 7,557 (112,208) 211 32,075 Total equity Issued capital Reserves Accumulat ed losses Non- controlling interest Consolidated $'000 $'000 $'000 $'000 $'000 Balance at 1 July 2025 136,515 7,557 (112,208) 211 32,075 Profit after income tax benefit for the year - - 999 - 999 Other comprehensive income for the year, net of tax - (1,782) - - (1,782) Total comprehensive income for the year - (1,782) 999 - (783) Transactions with owners in their capacity as owners: Contributions of equity, net of transaction costs (note 20) 18,722 - - - 18,722 Warrants exercised 4,311 - - - 4,311 Adeva share buy-back 900 - - - 900 Share-based payments (note 36) - (2,346) - - (2,346) Transactions with non-controlling interest - - 211 (211) - Performance rights exercised 277 (277) - - - Adjustment for opening balance due to currency variation - - 48 - 48 Balance at 30 June 2026 160,725 3,152 (110,950) - 52,927
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52 Consolidated statement of cash flows For the year ended 30 June 2026 The above consolidated statement of cash flows should be read in conjunction with the accompanying notes 2026 2025 Consolidated Note $'000 $'000 Cash flows from operating activities Receipts from customers (inclusive of GST) 218,747 195,565 Payments to suppliers and employees (inclusive of GST) (191,583) (164,624) Net cash from current operating activities 27,164 30,941 Interest received 977 553 Interest and other finance costs paid (6,396) (16,481) Repayment of ATO payment plans 15 - (3,259) Income taxes refunded/(paid) 269 (1,163) Net cash from operating activities 32 22,014 10,591 Cash flows from investing activities Payment for business acquisitions, net of cash acquired 29 (43,816) (22,943) Payments for financial assets (86) - Payments for property, plant and equipment (7,898) (10,233) Payments for intangibles (80) (105) Payments for security deposits - (151) Buy-back of shares in subsidiary (600) - Proceeds from release of security deposits 1,136 - Net cash used in investing activities (51,344) (33,432) Cash flows from financing activities Proceeds from issue of shares (net of transaction costs) 20 18,888 22,640 Proceeds from borrowings 35,179 85,628 Repayment of borrowings (118) (80,459) Transaction costs related to loans and borrowings - (1,981) Repayment of lease liabilities (5,906) (4,568) Net cash from financing activities 48,043 21,260 Net increase/(decrease) in cash and cash equivalents 18,713 (1,581) Cash and cash equivalents at the beginning of the financial year 23,965 25,546 Cash and cash equivalents at the end of the financial year 42,678 23,965
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2026
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54 Notes to the consolidated financial statements 30 June 2026 Note 1. General information The financial statements cover Intelligent Monitoring Group Limited ('Company' or 'parent entity') as a Group ('The Group' or 'Group') consisting of Intelligent Monitoring Group Limited and the entities it controlled at the end of, or during, the year. The financial statements are presented in Australian dollars, which is Intelligent Monitoring Group Limited's functional and presentation currency. Intelligent Monitoring Group Limited is a listed public company limited by shares, incorporated and domiciled in Australia. Its registered office and principal place of business is: Suite 2, 1 Tully Road East Perth WA 6004 The financial statements were authorised for issue, in accordance with a resolution of directors, on 26 August 2026. The directors have the power to amend and reissue the financial statements. Note 2. Material accounting policy information The accounting policies that are material to the Group are set out below. The accounting policies adopted are consistent with those of the previous financial year, unless otherwise stated. New or amended Accounting Standards and Interpretations adopted The Group 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 Group. The following Accounting Standards and Interpretations have been adopted from 1 July 2025: ● AASB 2023-5 Amendments to Australian Accounting Standards – Lack of Exchangeability ● AASB 18 is effective for annual reporting periods beginning on or after 1 January 2027, with earlier application permitted. The Group has not early adopted the Standard. The Group is currently assessing the impact of AASB 18; however, it is expected to have a material impact on the presentation and disclosure of the Group’s financial statements rather than the recognition and measurement of underlying transactions.
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55 Notes to the consolidated financial statements 30 June 2026 Basis of preparation These general purpose financial statements have been prepared in accordance with Australian Accounting Standards and Interpretations issued by the Australian Accounting Standards Board ('AASB') and the Corporations Act 2001, as appropriate for for-profit oriented entities. These financial statements also comply with International Financial Reporting Standards Accounting Standards as issued by the International Accounting Standards Board ('IASB'). The financial statements have been prepared on a going concern basis, which contemplates continuity of normal business activities and the realisation of assets and settlements of liabilities in the ordinary course of business. Historical cost convention The financial statements have been prepared under the historical cost convention, except for, where applicable, the revaluation of financial assets at fair value through profit or loss. Critical accounting estimates The preparation of the financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Group's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in note 3. Parent entity information In accordance with the Corporations Act 2001, these financial statements present the results of the Group only. Supplementary information about the parent entity is disclosed in note 28. Principles of consolidation The financial statements incorporate the assets and liabilities of all subsidiaries of Intelligent Monitoring Group Limited as at 30 June 2026 and the results of all subsidiaries for the year ended. Subsidiaries are all those entities over which the Group has control. The Group controls an entity when the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Group. They are de-consolidated from the date that control ceases. Note 2 continued
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56 Notes to the consolidated financial statements 30 June 2026 Intercompany transactions, balances and unrealised gains on transactions between entities in the Group are eliminated. Unrealised losses are also eliminated unless the transaction provides evidence of the impairment of the asset transferred. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group. The acquisition of subsidiaries is accounted for using the acquisition method of accounting. A change in ownership interest, without the loss of control, is accounted for as an equity transaction, where the difference between the consideration transferred and the book value of the share of the non-controlling interest acquired is recognised directly in equity attributable to the parent. Non-controlling interest in the results and equity of subsidiaries are shown separately in the statement of profit or loss and other comprehensive income, statement of financial position and statement of changes in equity of the Group. Losses incurred by the Group are attributed to the non-controlling interest in full, even if that results in a deficit balance. Where the Group loses control over a subsidiary, it derecognises the assets including goodwill, liabilities and non-controlling interest in the subsidiary together with any cumulative translation differences recognised in equity. The Group recognises the fair value of the consideration received and the fair value of any investment retained together with any gain or loss in profit or loss. Foreign currency translation Foreign currency transactions Foreign currency transactions are translated into the entity's functional currency using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at financial year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss. Foreign operations The assets and liabilities of foreign operations are translated into Australian dollars using the exchange rates at the reporting date. The revenues and expenses of foreign operations are translated into Australian dollars using the average exchange rates, which approximate the rates at the dates of the transactions, for the period. All resulting foreign exchange differences are recognised in other comprehensive income through the foreign currency reserve in equity. The foreign currency reserve is recognised in profit or loss when the foreign operation or net investment is disposed of. Revenue recognition The Group recognises revenue as follows: Note 2 continued
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57 Notes to the consolidated financial statements 30 June 2026 Revenue from contracts with customers Revenue is recognised at an amount that reflects the consideration to which the Group is expected to be entitled in exchange for transferring goods or services to a customer. For each contract with a customer, the Group: identifies the contract with a customer; identifies the performance obligations in the contract; determines the transaction price which takes into account estimates of variable consideration and the time value of money; allocates the transaction price to the separate performance obligations on the basis of the relative stand-alone selling price of each distinct good or service to be delivered; and recognises revenue when or as each performance obligation is satisfied in a manner that depicts the transfer to the customer of the goods or services promised. Variable consideration within the transaction price, if any, reflects concessions provided to the customer such as discounts, rebates and refunds, any potential bonuses receivable from the customer and any other contingent events. Such estimates are determined using either the 'expected value' or 'most likely amount' method. The measurement of variable consideration is subject to a constraining principle whereby revenue will only be recognised to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognised will not occur. The measurement constraint continues until the uncertainty associated with the variable consideration is subsequently resolved. Amounts received that are subject to the constraining principle are recognised as a refund liability. The Group applies the practical expedient in AASB 15.121 and therefore does not disclose information about remaining performance obligations for contracts that have an original expected duration of one year or less, or where the Group has a right to consideration from a customer in an amount that corresponds directly with the value of the Group's performance completed to date. Management has concluded that substantially all contracts with customers meet the requirements of this practical expedient. Nature of goods and services The following is a description of the nature and timing of the satisfaction of performance obligations and significant payment terms of the principal activities from which the Group generates revenue: (a) Ongoing services Revenue for ongoing services, such as those provided by the Group for alarm monitoring or static guarding, are contracted under either fixed term or ongoing service agreements. No other products or services are bundled in such contracts. Invoices are usually payable within 30 days and no element of financing is deemed present as the services are charged within standard credit terms which is consistent with industry practice. As such, revenue is recognised over time in line with AASB 15 principle with regard to the customer simultaneously receiving and consuming all of the benefits. Note 2 continued
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58 Notes to the consolidated financial statements 30 June 2026 Interest Interest revenue is recognised as interest accrues using the effective interest method. This is a method of calculating the amortised cost of a financial asset and allocating the interest income over the relevant period using the effective interest rate, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to the net carrying amount of the financial asset. Other revenue Other revenue is recognised when it is received or when the right to receive payment is established. (b) One-off services Revenue for ad hoc, one-off services, such as those provided by the Group for alarm system service and maintenance are contracted under short-term, low value service agreements which do not contain multiple deliverables or performance obligations. No other products or services are bundled in such contracts. Invoices are usually payable within 30 days and no element of financing is deemed present as the services are charged within standard credit terms which is consistent with industry practice. As such, revenue is recognised at a point in time when the service agreements are complete. (c) Equipment sales Revenue for equipment sales, is recognised when the customers obtain control of goods. This usually occurs when the goods are delivered. No other products or services are bundled in such contracts. Invoices are usually payable within 30 days and no element of financing is deemed present as the services are charged within standard credit terms which is consistent with industry practice. (d) Installation services Revenue for installation services, such as those provided by the Group for installation of alarm systems designed and supplied by the Group, is recognised when defined milestones have been reached and when the installation has been completed and the customers have control of alarm system. Invoices are usually payable within 30 days and no element of financing is deemed present as the services are charged within standard credit terms which is consistent with industry practice. Note 2 continued
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59 Notes to the consolidated financial statements 30 June 2026 Income tax The income tax expense or benefit for the period is the tax payable on that period's taxable income based on the applicable income tax rate for each jurisdiction, adjusted by the changes in deferred tax assets and liabilities attributable to temporary differences, unused tax losses and the adjustment recognised for prior periods, where applicable. Deferred tax assets and liabilities are recognised for temporary differences at the tax rates expected to be applied when the assets are recovered or liabilities are settled, based on those tax rates that are enacted or substantively enacted, except for: ● when the deferred income tax asset or liability arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and that, at the time of the transaction, affects neither the accounting nor taxable profits; or ● when the taxable temporary difference is associated with interests in subsidiaries, associates or joint ventures, and the timing of the reversal can be controlled, and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax assets are recognised for deductible temporary differences and unused tax losses only if it is probable that future taxable amounts will be available to utilise those temporary differences and losses. The carrying amount of recognised and unrecognised deferred tax assets are reviewed at each reporting date. Deferred tax assets recognised are reduced to the extent that it is no longer probable that future taxable profits will be available for the carrying amount to be recovered. Previously unrecognised deferred tax assets are recognised to the extent that it is probable that there are future taxable profits available to recover the asset. Deferred tax assets and liabilities are offset only where there is a legally enforceable right to offset current tax assets against current tax liabilities and deferred tax assets against deferred tax liabilities; and they relate to the same taxable authority on either the same taxable entity or different taxable entities which intend to settle simultaneously. Intelligent Monitoring Group Limited (the 'head entity') and its wholly-owned Australian subsidiaries have formed an income tax consolidated Group under the tax consolidation regime. The head entity and each subsidiary in the tax consolidated Group continue to account for their own current and deferred tax amounts. The tax consolidated Group has applied the 'separate taxpayer within Group' approach in determining the appropriate amount of taxes to allocate to members of the tax consolidated Group. Note 2 continued
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60 Notes to the consolidated financial statements 30 June 2026 In addition to its own current and deferred tax amounts, the head entity also recognises the current tax liabilities (or assets) and the deferred tax assets arising from unused tax losses and unused tax credits assumed from each subsidiary in the tax consolidated Group. Assets or liabilities arising under tax funding agreements with the tax consolidated entities are recognised as amounts receivable from or payable to other entities in the tax consolidated Group. The tax funding arrangement ensures that the intercompany charge equals the current tax liability or benefit of each tax consolidated Group member, resulting in neither a contribution by the head entity to the subsidiaries nor a distribution by the subsidiaries to the head entity. Current and non-current classification Assets and liabilities are presented in the statement of financial position based on current and non-current classification. An asset is classified as current when: it is either expected to be realised or intended to be sold or consumed in the Group's normal operating cycle; it is held primarily for the purpose of trading; it is expected to be realised within 12 months after the reporting period; or the asset is cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least 12 months after the reporting period. All other assets are classified as non-current. A liability is classified as current when: it is either expected to be settled in the Group's normal operating cycle; it is held primarily for the purpose of trading; it is due to be settled within 12 months after the reporting period; or there is no right at the end of the reporting period to defer the settlement of the liability for at least 12 months after the reporting period. All other liabilities are classified as non-current. Deferred tax assets and liabilities are always classified as non-current. Trade and other receivables Trade receivables are generally due for settlement within 30 days. The Group has applied the simplified approach to measuring expected credit losses, which uses a lifetime expected loss allowance. To measure the expected credit losses, trade receivables have been grouped based on days overdue. Other receivables are recognised at amortised cost, less any allowance for expected credit losses. Note 2 continued
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61 Notes to the consolidated financial statements 30 June 2026 Contract assets Contract assets are recognised when the Group has transferred goods or services to the customer but where the Group is yet to establish an unconditional right to consideration. Contract assets are treated as financial assets for impairment purposes. Inventories Finished goods are stated at the lower of cost and net realisable value on a 'first in first out' basis. Cost comprises of direct materials and delivery costs, direct labour, import duties and other taxes, and an appropriate proportion of variable and fixed overhead expenditure based on normal operating capacity. Costs of purchased inventory are determined after deducting rebates and discounts received or receivable. Stock in transit is stated at the lower of cost and net realisable value. Cost comprises of purchase and delivery costs, net of rebates and discounts received or receivable. Net realisable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale. Plant and equipment Plant and equipment is stated at historical cost less accumulated depreciation and impairment. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Depreciation is calculated on a straight-line basis to write off the net cost of each item of plant and equipment over their expected useful lives as follows: Plant and equipment 1 to 15 years Motor vehicles 3 to 8 years Monitoring infrastructure 1 to 20 years Brands and trademarks 2 to 25 years Subscriber assets 1 to 7 years Capital work-in-progress Not depreciated until ready for use. The residual values, useful lives and depreciation methods are reviewed, and adjusted if appropriate, at each reporting date. An item of property, plant and equipment is derecognised upon disposal or when there is no future economic benefit to the Group. Gains and losses between the carrying amount and the disposal proceeds are taken to profit or loss. Note 2 continued
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62 Notes to the consolidated financial statements 30 June 2026 Right-of-use assets A right-of-use asset is recognised at the commencement date of a lease. The right- of-use asset is measured at cost, which comprises the initial amount of the lease liability, adjusted for, as applicable, any lease payments made at or before the commencement date net of any lease incentives received, any initial direct costs incurred, and, except where included in the cost of inventories, an estimate of costs expected to be incurred for dismantling and removing the underlying asset, and restoring the site or asset. Right-of-use assets are depreciated on a straight-line basis over the unexpired period of the lease or the estimated useful life of the asset, whichever is the shorter. Where the Group expects to obtain ownership of the leased asset at the end of the lease term, the depreciation is over its estimated useful life. Right-of use assets are subject to impairment or adjusted for any remeasurement of lease liabilities. The Group has elected not to recognise a right-of-use asset and corresponding lease liability for short-term leases with terms of 12 months or less and leases of low- value assets. Lease payments on these assets are expensed to profit or loss as incurred. Intangible assets Intangible assets acquired as part of a business combination, other than goodwill, are initially measured at their fair value at the date of the acquisition. Intangible assets acquired separately are initially recognised at cost. Finite life intangible assets are subsequently measured at cost less amortisation and any impairment. The gains or losses recognised in profit or loss arising from the derecognition of intangible assets are measured as the difference between net disposal proceeds and the carrying amount of the intangible asset. The method and useful lives of finite life intangible assets are reviewed annually. Changes in the expected pattern of consumption or useful life are accounted for prospectively by changing the amortisation method or period. Amortisation of customer contracts is included within cost of sales. Amortisation of development assets and brands and intellectual property is included within depreciation and amortisation expense in the statement of profit or loss. Goodwill Goodwill arises on the acquisition of a business. Goodwill is not amortised. Instead, goodwill is tested annually for impairment, or more frequently if events or changes in circumstances indicate that it might be impaired and is carried at cost less accumulated impairment losses. Impairment losses on goodwill are taken to profit or loss and are not subsequently reversed. Note 2 continued
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63 Notes to the consolidated financial statements 30 June 2026 Brands and intellectual property Significant costs associated with brands and intellectual property are deferred and amortised on a straight-line basis over the period of their expected benefit, being their finite life of 25 years. Brands acquired through business acquisition in the current period have been independently valued and are amortised on the straight- line basis over the defined life of 7 years. Customer contracts Customer contracts acquired in a business combination are amortised on a straight- line basis over the period of their expected benefit, being their finite life of 4 - 15 years. Impairment of non-financial assets Goodwill and other intangible assets that have an indefinite useful life are not subject to amortisation and are tested annually for impairment, or more frequently if events or changes in circumstances indicate that they might be impaired. Other non-financial assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. Recoverable amount is the higher of an asset's fair value less costs of disposal and value-in-use. The value-in-use is the present value of the estimated future cash flows relating to the asset using a pre-tax discount rate specific to the asset or cash- generating unit to which the asset belongs. Assets that do not have independent cash flows are grouped together to form a cash-generating unit. Trade and other payables Due to their short-term nature they are measured at amortised cost and are not discounted. The amounts are unsecured and are usually paid within 30 days of recognition. Contract liabilities Contract liabilities represent the Group's obligation to transfer goods or services to a customer and are recognised when a customer pays consideration, or when the Group recognises a receivable to reflect its unconditional right to consideration (whichever is earlier) before the Group has transferred the goods or services to the customer. Note 2 continued
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64 Notes to the consolidated financial statements 30 June 2026 Borrowings Loans and borrowings are initially recognised at the fair value of the consideration received, net of transaction costs. They are subsequently measured at amortised cost using the effective interest method. Lease liabilities The lease liability is initially recognised at the present value of the lease payments to be made over the term of the lease, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Group's incremental borrowing rate. Lease payments comprise of fixed payments less any lease incentives receivable, variable lease payments that depend on an index or a rate, amounts expected to be paid under residual value guarantees, exercise price of a purchase option when the exercise of the option is reasonably certain to occur, and any anticipated termination penalties. Lease liabilities are measured at amortised cost using the effective interest method. The carrying amounts are remeasured if there is a change in the following: future lease payments arising from a change in an index or a rate used; residual guarantee; lease term; certainty of a purchase option and termination penalties. Finance costs Finance costs attributable to qualifying assets are capitalised as part of the asset. All other finance costs are expensed in the period in which they are incurred. Employee benefits Share-based payments Equity-settled share-based compensation benefits are provided to employees. Equity-settled transactions are awards of shares, or options over shares, that are provided to employees in exchange for the rendering of services. The cost of equity-settled transactions are measured at fair value on grant date. Fair value is independently determined using the Black Scholes option pricing model that takes into account the exercise price, the term of the option, the impact of dilution, the share price at grant date and expected price volatility of the underlying share, the expected dividend yield and the risk free interest rate for the term of the option, together with non-vesting conditions that do not determine whether the Group receives the services that entitle the employees to receive payment. No account is taken of any other vesting conditions. Note 2 continued
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65 Notes to the consolidated financial statements 30 June 2026 The cost of equity-settled transactions are recognised as an expense with a corresponding increase in equity over the vesting period. The cumulative charge to profit or loss is calculated based on the grant date fair value of the award, the best estimate of the number of awards that are likely to vest and the expired portion of the vesting period. The amount recognised in profit or loss for the period is the cumulative amount calculated at each reporting date less amounts already recognised in previous periods. Market conditions are taken into consideration in determining fair value. Therefore any awards subject to market conditions are considered to vest irrespective of whether or not that market condition has been met, provided all other conditions are satisfied. If equity-settled awards are modified, as a minimum an expense is recognised as if the modification has not been made. An additional expense is recognised, over the remaining vesting period, for any modification that increases the total fair value of the share-based compensation benefit as at the date of modification. If the non-vesting condition is within the control of the Group or employee, the failure to satisfy the condition is treated as a cancellation. If the condition is not within the control of the Group or employee and is not satisfied during the vesting period, any remaining expense for the award is recognised over the remaining vesting period, unless the award is forfeited. If equity-settled awards are cancelled, it is treated as if it has vested on the date of cancellation, and any remaining expense is recognised immediately. If a new replacement award is substituted for the cancelled award, the cancelled and new award is treated as if they were a modification. Fair value measurement When an asset or liability, financial or non-financial, is measured at fair value for recognition or disclosure purposes, the fair value is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date; and assumes that the transaction will take place either: in the principal market; or in the absence of a principal market, in the most advantageous market. Fair value is measured using the assumptions that market participants would use when pricing the asset or liability, assuming they act in their economic best interests. For non-financial assets, the fair value measurement is based on its highest and best use. Valuation techniques used to measure fair value are those that are appropriate in the circumstances and which maximise the use of relevant observable inputs and minimise the use of unobservable inputs. Note 2 continued
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66 Notes to the consolidated financial statements 30 June 2026 Assets and liabilities measured at fair value are classified into three levels, using a fair value hierarchy that reflects the significance of the inputs used in making the measurements. Classifications are reviewed at each reporting date and transfers between levels are determined based on a reassessment of the lowest level of input that is significant to the fair value measurement. For recurring and non-recurring fair value measurements, external valuers may be used when internal expertise is either not available or when the valuation is deemed to be significant. External valuers are selected based on market knowledge and reputation. Where there is a significant change in fair value of an asset or liability from one period to another, an analysis is undertaken, which includes a verification of the major inputs applied in the latest valuation and a comparison, where applicable, with external sources of data. Issued capital Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds. Business combinations The acquisition method of accounting is used to account for business combinations regardless of whether equity instruments or other assets are acquired. The acquisition method of accounting is used to account for business combinations when the acquired set of activities and assets meets the definition of a business and control is transferred to the Group. To determine whether a set of activities and assets constitutes a business, the Group has the choice to apply a `concentration test', which is met if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets. Alternatively, to determine if a business has been acquired, the Group assesses whether (as a minimum) an input and substantive process has been acquired and whether there is an ability to produce outputs from these. The consideration transferred is the sum of the acquisition-date fair values of the assets transferred, equity instruments issued or liabilities incurred by the acquirer to former owners of the acquiree and the amount of any non-controlling interest in the acquiree. For each business combination, the non-controlling interest in the acquiree is measured at either fair value or at the proportionate share of the acquiree's identifiable net assets. All acquisition costs are expensed as incurred to profit or loss. Note 2 continued
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67 Notes to the consolidated financial statements 30 June 2026 On the acquisition of a business, the Group assesses the financial assets acquired and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic conditions, the Group's operating or accounting policies and other pertinent conditions in existence at the acquisition- date. Contingent consideration to be transferred by the acquirer is recognised at the acquisition-date fair value. Subsequent changes in the fair value of the contingent consideration classified as an asset or liability is recognised in profit or loss. Contingent consideration classified as equity is not remeasured and its subsequent settlement is accounted for within equity. The difference between the acquisition-date fair value of assets acquired, liabilities assumed and any non-controlling interest in the acquiree and the fair value of the consideration transferred and the fair value of any pre-existing investment in the acquiree is recognised as goodwill. If the consideration transferred and the pre- existing fair value is less than the fair value of the identifiable net assets acquired, being a bargain purchase to the acquirer, the difference is recognised as a gain directly in profit or loss by the acquirer on the acquisition-date, but only after a reassessment of the identification and measurement of the net assets acquired, the non-controlling interest in the acquiree, if any, the consideration transferred and the acquirer's previously held equity interest in the acquirer. Business combinations are initially accounted for on a provisional basis. The acquirer retrospectively adjusts the provisional amounts recognised and also recognises additional assets or liabilities during the measurement period, based on new information obtained about the facts and circumstances that existed at the acquisition-date. The measurement period ends on either the earlier of (i) 12 months from the date of the acquisition or (ii) when the acquirer receives all the information possible to determine fair value. Earnings per share Basic earnings per share Basic earnings per share is calculated by dividing the profit/(loss) attributable to the owners of Intelligent Monitoring Group Limited, excluding any costs of servicing equity other than ordinary shares, by the weighted average number of ordinary shares outstanding during the financial year, adjusted for bonus elements in ordinary shares issued during the financial year. Note 2 continued
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68 Notes to the consolidated financial statements 30 June 2026 Diluted earnings per share Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account the after income tax effect of interest and other financing costs associated with dilutive potential ordinary shares and the weighted average number of additional ordinary shares that would have been outstanding assuming conversion of all dilutive potential ordinary shares. Rounding of amounts The Company is of a kind referred to in Corporations Instrument 2026/183, 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. New Accounting Standards and Interpretations not yet mandatory or early adopted Australian Accounting Standards and Interpretations that have recently been issued or amended but are not yet mandatory, have not been early adopted by the Group for the annual reporting period ended 30 June 2026. The Group does not expect these amendments to have a material impact on the amounts recognised in prior periods or will affect the current or future periods. The main standards are listed below: ● AASB 18 Presentation and Disclosure in Financial Statements ● AASB 2014-10 Sale or contribution of assets between investor and its associate or joint venture Note 3. Critical accounting judgements, estimates and assumptions The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts in the financial statements. Management continually evaluates its judgements and estimates in relation to assets, liabilities, contingent liabilities, revenue and expenses. Management bases its judgements, estimates and assumptions on historical experience and on other various factors, including expectations of future events, management believes to be reasonable under the circumstances. The resulting accounting judgements and estimates will seldom equal the related actual results. The judgements, estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities (refer to the respective notes) within the next financial year are discussed below. Note 2 continued
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69 Notes to the consolidated financial statements 30 June 2026 Significant judgement is required in estimating the progress of installation contracts recognised over time. Progress is measured using a cost-to-cost input method, calculated by dividing costs incurred at the reporting date by total estimated contract costs. The determination of expected contract costs requires management to assess forecast labour, materials, subcontractor costs and project contingencies. Changes in these estimates may result in adjustments to revenue recognised in future reporting periods. Share-based payment transactions The Group measures the cost of equity-settled transactions with employees by reference to the fair value of the equity instruments at the date at which they are granted. The fair value is determined by using the Black-Scholes model taking into account the terms and conditions upon which the instruments were granted. The accounting estimates and assumptions relating to equity-settled share-based payments would have no impact on the carrying amounts of assets and liabilities within the next annual reporting period but may impact profit or loss and equity. Allowance for expected credit losses The allowance for expected credit losses assessment requires a degree of estimation and judgement. It is based on the lifetime expected credit loss, grouped based on days overdue, and makes assumptions to allocate an overall expected credit loss rate for each group. These assumptions include recent sales experience, historical collection rates and forward-looking information that is available. The allowance for expected credit losses, as disclosed in note 9, is calculated based on the information available at the time of preparation. The actual credit losses in future years may be higher or lower. Estimation of useful lives of assets The Group determines the estimated useful lives and related depreciation and amortisation charges for its property, plant and equipment and finite life intangible assets. The useful lives could change significantly as a result of technical innovations or some other event. The depreciation and amortisation charge will increase where the useful lives are less than previously estimated lives, or technically obsolete or non-strategic assets that have been abandoned or sold will be written off or written down. Goodwill and other indefinite life intangible assets The Group tests annually, or more frequently if events or changes in circumstances indicate impairment, whether goodwill and other indefinite life intangible assets have suffered any impairment, in accordance with the accounting policy stated in note 2. The recoverable amounts of cash-generating units have been determined based on value-in-use calculations. These calculations require the use of assumptions, including estimated discount rates based on the current cost of capital and growth rates of the estimated future cash flows. Note 3 continued
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70 Notes to the consolidated financial statements 30 June 2026 Impairment of non-financial assets other than goodwill and other indefinite life intangible assets The Group assesses impairment of non-financial assets other than goodwill and other indefinite life intangible assets at each reporting date by evaluating conditions specific to the Group and to the particular asset that may lead to impairment. If an impairment trigger exists, the recoverable amount of the asset is determined. This involves assessing the value of the asset at fair value less costs of disposal and using value-in-use models which incorporate a number of key estimates and assumptions. Income tax The Group is subject to income taxes in the jurisdictions in which it operates. Significant judgement is required in determining the provision for income tax. There are many transactions and calculations undertaken during the ordinary course of business for which the ultimate tax determination is uncertain. The Group recognises liabilities for anticipated tax audit issues based on the Group's current understanding of the tax law. Where the final tax outcome of these matters is different from the carrying amounts, such differences will impact the current and deferred tax provisions in the period in which such determination is made. Business combinations As discussed in note 2, business combinations are initially accounted for on a provisional basis. The fair value of assets acquired, liabilities and contingent liabilities assumed are initially estimated by the Group taking into consideration all available information at the reporting date. Fair value adjustments on the finalisation of the business combination accounting is retrospective, where applicable, to the period the combination occurred and may have an impact on the assets and liabilities, depreciation and amortisation reported. Note 4. Operating segments Identification of reportable operating segments The Group operates predominantly in the security services industry, providing security alarm monitoring and installations as well as security guarding services across Australia and New Zealand. Note 3 continued
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71 Notes to the consolidated financial statements 30 June 2026 The Group has identified its operating segments based on the internal reports that are provided to the Board on a monthly basis that are used in determining the allocation of resources across the Group. Management has identified the operating segments of the Group based on the four distinctive types of services provided by the Group – security alarm and video monitoring ('Monitoring'), security alarm and video installations ('Installations'), security alarm and video maintenance services ('Maintenance') and security guarding and personnel services ('Services'). The Board reviews gross profit for each operating segment. The information reported to the Board is on a monthly basis. Unless stated otherwise, all amounts reported to the Board, being the chief operating decision makers with respect to operating segments, are determined in accordance with accounting policies that are consistent to those adopted in the annual financial statements of the Group. Intersegment transactions An internally determined transfer price is set for all inter‐segment sales. This price is based on what would be realised in the event that the sale or services was made to an external party at arm’s length. All such transactions are eliminated on consolidation of the Group’s financial statements. Intersegment receivables, payables and loans Where an asset is used across multiple segments, the asset is allocated to the segment that receives majority economic value from that asset. In the majority of instances, segment assets are clearly identifiable on the basis of their nature and physical location. Liabilities are allocated to segments where there is a direct nexus between the incurrence of the liability and the operations of the segment. Segment liabilities include trade and other payables and certain direct borrowings. Unallocated items Any items noted below as “unallocated” are not allocated to operating segments as they are not considered part of the core operations of any segment in particular. Major customers There was no customer that contributed more than 10% of revenues (2025: none). Note 4 continued
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72 Notes to the consolidated financial statements 30 June 2026 Monitorin g Installatio ns Maintena nce Services Unallocat ed Total Consolidated - 2026 $'000 $'000 $'000 $'000 $'000 $'000 Revenue Sales to external customers 82,653 78,942 16,391 25,670 - 203,656 Segment gross profit 47,349 11,033 6,621 9,986 - 74,989 Other income including interest received - - - - 3,486 3,486 Administration expenses - - - - (31,703) (31,703) Compliance and regulatory costs - - - - (122) (122) Marketing and business development expenses (1,148) (252) - - (321) (1,721) Depreciation and amortisation (14,955) (3,485) (1,540) (3,155) - (23,135) Business acquisition, integration and restructuring costs - - - - (7,474) (7,474) Share-based payments - - - - (1,965) (1,965) Impairment of receivables (1,715) (660) (241) (377) - (2,993) Finance costs - - - - (8,496) (8,496) Profit/(loss) before income tax benefit 29,531 6,636 4,840 6,454 (46,595) 866 Income tax benefit 133 Profit after income tax benefit 999 Assets Segment assets 65,507 98,344 47,189 8,957 43,999 263,996 Total assets 263,996 Liabilities Segment liabilities 67,234 24,217 26,870 6,260 86,488 211,069 Total liabilities 211,069 Note 4 continued
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73 Notes to the consolidated financial statements 30 June 2026 The comparatives for the prior year have been restated in the new reporting segments. Monitorin g Installatio ns Maintena nce Services Unallocat ed Total Consolidated - 2025 $'000 $'000 $'000 $'000 $'000 $'000 Revenue Sales to external customers 85,316 59,695 18,101 11,765 - 174,877 Segment gross profit 40,950 5,489 3,281 1,672 - 51,392 Other income including interest received - - - - 2,059 2,059 Administration expenses - - - - (25,304) (25,304) Compliance and regulatory costs - - - - (1,937) (1,937) Marketing and business development expenses (1,584) (501) - - (999) (3,084) Depreciation and amortisation (4,476) (1,676) (499) - - (6,651) Business acquisition, integration and restructuring costs - - - - (3,820) (3,820) Share-based payments - - - - (947) (947) Impairment of receivables (1,952) (659) (198) (41) - (2,850) Impairment of assets (2,530) (1,213) (630) - - (4,373) Finance costs - - - - (19,480) (19,480) Profit/(loss) before income tax expense 30,408 1,440 1,954 1,631 (50,428) (14,995) Income tax expense (6,790) Loss after income tax expense (21,785) Assets Segment assets 61,075 58,458 7,459 4,349 57,161 188,502 Total assets 188,502 Liabilities Segment liabilities 20,595 14,591 4,322 3,518 113,401 156,427 Total liabilities 156,427 Note 4 continued
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74 Notes to the consolidated financial statements 30 June 2026 Geographical information The geographical non-current assets above are exclusive of, where applicable, financial instruments, deferred tax assets, post-employment benefits assets and rights under insurance contracts. Note 5. Revenue Consolidated 2026 2025 $'000 $'000 Revenue from contracts with customers Total revenue 203,656 174,878 17.5 20.4 FY25 FY26 Revenue ($m) 16.5% Sales to external customers Geographical non- current assets 2026 2025 2026 2025 $'000 $'000 $'000 $'000 Australia 162,701 136,008 150,420 104,819 New Zealand 40,955 38,870 17,357 20,600 203,656 174,878 167,777 125,419 Note 4 continued
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75 Notes to the consolidated financial statements 30 June 2026 Disaggregation of revenue The disaggregation of revenue from contracts with customers is as follows: Note 6. Other income Consolidated 2026 2025 $'000 $'000 Net gain on settlement of contingent consideration 1,018 67 Other income 1,470 1,439 Other income 2,488 1,506 Consolidated 2026 2025 $'000 $'000 Major product lines Ongoing services 108,155 96,873 One-off services 94,379 77,249 Equipment sales 1,122 756 203,656 174,878 Geographical regions Australia 162,701 136,008 New Zealand 40,955 38,870 203,656 174,878 Timing of revenue recognition Goods and services transferred at a point in time 93,816 76,792 Services transferred over time 109,840 98,086 203,656 174,878 ~53% Recurring Revenue 80% 20% Revenue Contribution AU NZ Note 5 continued
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76 Notes to the consolidated financial statements 30 June 2026 Note 7. Expenses Consolidated 2026 2025 $'000 $'000 Profit/(loss) before income tax includes the following specific expenses: Cost of sales Cost of sales/cost of inventory expensed 49,204 31,457 Depreciation Plant and equipment 772 447 Motor vehicles 174 84 Monitoring infrastructure 89 120 Subscriber assets 6,589 4,211 Buildings right-of-use assets 3,861 2,518 Motor vehicles right-of-use assets 1,531 926 Total depreciation 13,016 8,306 Amortisation Development assets 296 314 Brands and intellectual property 544 520 Customer contracts 9,279 13,308 Total amortisation 10,119 14,142 Total depreciation and amortisation 23,135 22,448 Impairment of assets Inventory 2,667 39 Goodwill (note 14) - 4,334 Total impairment 2,667 4,373 Finance costs Interest and finance charges paid/payable on borrowings 7,307 18,272 Interest and finance charges paid/payable on lease liabilities 1,190 1,208 Finance costs expensed 8,497 19,480 Leases Low-value assets lease payments 13 13 Superannuation expense Superannuation contribution expense 5,073 4,258 Employee benefits expense excluding superannuation Employee benefits expense excluding superannuation 56,447 57,245
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77 Notes to the consolidated financial statements 30 June 2026 Note 8. Income tax Consolidated 2026 2025 $'000 $'000 Amounts charged directly to equity Deferred tax liabilities 294 97 Consolidated 2026 2025 $'000 $'000 Income tax (benefit)/expense Current tax 4,053 5,211 Deferred tax - origination and reversal of temporary differences (4,440) (603) Reassessment of amounts recognised in prior periods 254 2,182 Aggregate income tax (benefit)/expense (133) 6,790 Numerical reconciliation of income tax (benefit)/expense and tax at the statutory rate Profit/(loss) before income tax benefit/(expense) 866 (14,995) Tax at the statutory tax rate of 30% 260 (4,499) Tax effect amounts which are not deductible/(taxable) in calculating taxable income: Deductible equity raising costs (294) (294) Non-deductible expenses 1,383 9,743 Non-assessable income (35) (343) 1,314 4,701 Current year tax losses not recognised 173 - Prior year temporary differences not recognised now recognised 254 2,182 Recognition of previously unrecognised deferred taxes (1,874) - Income tax (benefit)/expense (133) 6,790
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78 Notes to the consolidated financial statements 30 June 2026 Consolidated 2026 2025 $'000 $'000 Deferred tax asset Deferred tax asset comprises temporary differences attributable to: Amounts recognised in profit or loss: Tax losses 1,932 1,932 Allowance for expected credit losses 999 1,017 Property, plant and equipment 66 - Employee benefits 3,543 2,115 Leases 6,006 2,791 Accrued expenses 686 504 Capital raising costs 826 813 Other deferred tax assets 138 1,923 Inventories 59 129 Set‐off against deferred tax liabilities (14,255) (11,224) Deferred tax asset - - Consolidated 2026 2025 $'000 $'000 Deferred tax liability Deferred tax liability comprises temporary differences attributable to: Amounts recognised in profit or loss: Right of use assets 5,962 3,267 Intangible assets 13,692 16,030 Other deferred tax liabilities 44 348 Set‐off from deferred tax assets (14,255) (11,224) Deferred tax liability 5,443 8,421 Movements: Opening balance 8,421 2,966 Charged/(credited) to profit or loss (4,440) 1,047 Charged to equity 294 97 Additions through business combinations (note 29) 1,168 4,311 Closing balance 5,443 8,421 Consolidated 2026 2025 $'000 $'000 Provision for income tax Provision for income tax 9,758 6,939 Note 8 continued
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79 Notes to the consolidated financial statements 30 June 2026 Recoverability of tax losses The Group is subject to income taxes in Australia and New Zealand, significant estimates and judgements are required in determining the recoverability of deferred tax assets in Australia. This significant judgement applied is based on the Group’s ability to satisfy the requirements of the Business Continuity Test, which allows the utilisation of carry forward of tax losses in the current and/or future periods. Given the complexity of applying the tax legislation and the inherent uncertainty in interpreting and applying these laws, there is a risk that the taxation authority may challenge the Group’s position. The Group has considered all relevant factors, including Same Business Test and Similar Business Test, in forming its judgement of the estimate. The judgement applied in the assumptions regarding the utilisation and therefore the recognition of deferred taxes, may change due to a reassessment in future periods which may impact the ability to utilise the deferred taxes. At the reporting date, the Group potentially has unused gross tax losses of $9.63 million (FY25: $9.63 million) in Australia and $21.23 million (FY25: $0.99 million) in New Zealand that may be available for offset against future profits. The tax losses do not expire under the current legislation but are subject to the satisfaction of loss utilisation rules. Note 9. Trade and other receivables Consolidated 2026 2025 $'000 $'000 Current assets Trade receivables 35,358 27,726 Less: Allowance for expected credit losses (3,314) (3,976) 32,044 23,750 Other receivables 1,958 2,124 34,002 25,874 Non-current assets Loan receivable from Rascal Security Pty Ltd 2,800 2,800 Note 8 continued
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80 Notes to the consolidated financial statements 30 June 2026 Allowance for expected credit losses The Group has recognised a net loss of $2,993,000 (2025: $2,850,000) in profit or loss in respect of the expected credit losses for the year ended 30 June 2026. The ageing of the receivables and allowance for expected credit losses provided for above are as follows: Movements in the allowance for expected credit losses are as follows: * Expected credit loss rate for the Group’s receivables from commercial customers is different to those listed for the 180-365 days overdue and 365 days overdue groups at 10% and 50% respectively. The Group has no material receivables in those ageing categories for 2026 or 2025. Consolidated 2026 2025 $'000 $'000 Opening balance 3,976 2,857 Additional provisions recognised 2,993 2,850 Additions through business combinations 414 - Receivables written off during the year as uncollectable (4,069) (1,731) Closing balance 3,314 3,976 Expected credit loss rate Carrying amount Allowance for expected credit losses 2026 * 2025 2026 2025 2026 2025 Consolidated % % $'000 $'000 $'000 $'000 Not overdue 0.4% 0.2% 21,531 14,155 95 33 0 to 90 days overdue 0.5% 0.8% 6,434 6,678 31 54 90 to 180 days overdue 1.5% 11.8% 2,407 1,777 37 211 180 to 365 days overdue 27.3% 47.7% 2,463 2,217 673 1,057 365 days overdue 98.2% 90.4% 2,523 2,899 2,478 2,621 35,358 27,726 3,314 3,976 Note 9 continued
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81 Notes to the consolidated financial statements 30 June 2026 Note 10. Contract assets Note 11. Other Consolidated 2026 2025 $'000 $'000 Current assets Contract assets 9,042 1,231 Reconciliation Reconciliation of the written down values at the beginning and end of the current and previous financial year are set out below: Opening balance 1,231 144 Additions 9,042 1,231 Additions through business combinations - 1,088 Transfer to trade receivables (1,231) (1,232) Closing balance 9,042 1,231 Consolidated 2026 2025 $'000 $'000 Current assets Prepayments 2,209 1,042 Security deposits 4,240 2,913 6,449 3,955
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82 Notes to the consolidated financial statements 30 June 2026 Note 12. Property, plant and equipment Consolidated 2026 2025 $'000 $'000 Non-current assets Plant and equipment - at cost 7,723 4,363 Less: Accumulated depreciation (4,352) (1,654) 3,371 2,709 Motor vehicles - at cost 1,855 1,874 Less: Accumulated depreciation (1,226) (1,342) 629 532 Monitoring infrastructure - at cost 851 851 Less: Accumulated depreciation (713) (624) 138 227 Capital work-in-progress - at cost 550 1,396 Subscriber assets - at cost 31,202 25,193 Less: Accumulated depreciation (12,496) (7,156) 18,706 18,037 23,394 22,901
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83 Notes to the consolidated financial statements 30 June 2026 Reconciliations Reconciliations of the written down values at the beginning and end of the current and previous financial year are set out below: Plant and equipment Motor vehicles Monitoring infrastructur e Capital work-in- progress Subscriber assets Total Consolidated $'000 $'000 $'000 $'000 $'000 $'000 Balance at 1 July 2024 1,259 133 309 888 13,413 16,002 Additions 1,923 3 38 487 8,289 10,740 Additions through business combination (note 28) 168 480 - - - 648 Exchange differences 4 - - 21 348 373 Transfers in/(out) (198) - - - 198 - Depreciation expense (447) (84) (120) - (4,211) (4,862) Balance at 30 June 2025 2,709 532 227 1,396 18,037 22,901 Additions 856 230 - 7,056 4 8,146 Additions through business combination (note 28) 419 171 - - - 590 Disposals - (114) - (35) - (149) Exchange differences (112) 1 - (156) (1,046) (1,313) Transfers in/(out) * 271 (17) - (7,711) 8,300 843 Depreciation expense (772) (174) (89) - (6,589) (7,624) Balance at 30 June 2026 3,371 629 138 550 18,706 23,394 * transfers in/(out) includes a transfer in of $843,000 from intangibles (note 14). Note 13. Right-of-use assets Consolidated 2026 2025 $'000 $'000 Non-current assets Buildings - right-of-use 20,226 14,517 Less: Accumulated depreciation (9,887) (6,050) 10,339 8,467 Motor vehicles - right-of-use 11,942 3,611 Less: Accumulated depreciation (1,985) (409) 9,957 3,202 20,296 11,669 Note 12 continued
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84 Notes to the consolidated financial statements 30 June 2026 The Group leases buildings for its offices under agreements of between 1 to 5 years with, in some cases, options to extend. The leases have various escalation clauses. On renewal, the terms of the leases are renegotiated. The consolidated entity also leases motor vehicles for its technicians and sales staff under agreements of between 3 to 5 years. The Group leases office equipment under agreements of less than 2 years. These leases are either short-term or low-value, so have been expensed as incurred and not capitalised as right-of-use assets. For impairment testing, the right-of-use assets have been allocated to the monitoring cash-generating units. Refer to note 14 for further information on the impairment testing key assumptions. Reconciliations Reconciliations of the written down values at the beginning and end of the current and previous financial year are set out below: Buildings Motor vehicles Total Consolidated $'000 $'000 $'000 Balance at 1 July 2024 8,976 - 8,976 Additions 1,818 4,127 5,945 Additions through business combinations (note 28) 191 - 191 Foreign exchange differences - 1 1 Depreciation expense (2,518) (926) (3,444) Balance at 30 June 2025 8,467 3,202 11,669 Additions 3,966 2,291 6,257 Additions through business combinations (note 28) 1,944 6,148 8,092 Disposals - - - Foreign exchange differences (177) (153) (330) Depreciation expense (3,861) (1,531) (5,392) Balance at 30 June 2026 10,339 9,957 20,296 For other lease related disclosures, refer to: ● note 7 for interest paid on lease liabilities and expense relating to short-term leases; ● note 18 for lease liabilities at the reporting date; ● note 22 for maturity analysis of lease liabilities; and ● consolidated statement of cash flows for repayment of lease liabilities. Note 13 continued
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85 Notes to the consolidated financial statements 30 June 2026 Note 14. Intangibles Reconciliations Reconciliations of the written down values at the beginning and end of the current and previous financial year are set out below: * transfers in/(out) includes a transfer out of $843,000 to plant and equipment (note 12). Consolidated 2026 2025 $'000 $'000 Non-current assets Goodwill - at cost 105,632 64,234 Less: Accumulated impairment (33,257) (33,257) 72,375 30,977 Development assets - at cost 7,290 7,290 Less: Accumulated amortisation (5,267) (4,970) Less: Impairment (1,708) (1,708) 315 612 Brands and intellectual property - at cost 9,417 9,219 Less: Accumulated amortisation (1,402) (858) 8,015 8,361 Customer contracts - at cost 102,721 100,432 Less: Accumulated amortisation (62,140) (53,282) 40,581 47,150 121,286 87,100 Goodwill Developmen t assets Brands and intellectual property Customer contracts Total Consolidated $'000 $'000 $'000 $'000 $'000 Balance at 1 July 2024 15,163 892 8,450 44,223 68,728 Additions - 34 - 4,271 4,305 Additions through business combination (note 28) 18,068 - 431 14,035 32,534 Impairment of assets (note 7) (4,334) - - - (4,334) Foreign exchange differences - - - 9 9 Transfer in/(out) 2,080 - - (2,080) - Amortisation expense - (314) (520) (13,308) (14,142) Balance at 30 June 2025 30,977 612 8,361 47,150 87,100 Additions - - - 29 29 Additions through acquisitions (note 28) 41,398 - 199 4,043 45,640 Impairment of assets (note 7) - - - - - Foreign exchange differences - (1) (1) (519) (521) Transfer in/(out) * - - - (843) (843) Amortisation expense - (296) (544) (9,279) (10,119) Balance at 30 June 2026 72,375 315 8,015 40,581 121,286
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86 Notes to the consolidated financial statements 30 June 2026 Impairment testing The Group continues to grow with the acquisitions of Western Advance (WAPL) at the beginning of September 2025, B.N.P. Securities (BNP) at the start of October 2025 and recently Wormald NZ and Red Wolf in late May 2026. Although these CGUs are interlinked they are determined to be the smallest cash generating units in the Group: ● ADT Australia Pty Ltd (“ADT AU”) – providing line monitoring of customers plus sale, installation and maintenance of commercial, small to medium businesses and residential security systems throughout Australia. ● Everjazz Pty Ltd (Alarm Assets Group "AAG”) – providing supply and maintenance of security systems for specific Government organisations plus maintenance and installation of small security systems to local customers – WA based. ● ACG Integration Pty Ltd (“ACG”) - providing supply, installation and maintenance of security systems for existing and new commercial clients throughout Australia. ● Dataline Visual Link Pty Ltd (“DVL”) - providing supply, installation and maintenance of security systems primarily for the Perth Transport Authority “PTA” contract in WA and other commercial clients. ● KOBE Pty Ltd (“KOBE”) - providing supply, installation and maintenance of security systems for existing and new commercial clients throughout Australia. ● ADT New Zealand Pty Ltd (“ADT NZ”) - providing line monitoring of customers plus sale, installation and maintenance of large commercial security systems throughout New Zealand. ● Intelligent Monitoring Solutions Pty Ltd (“IMS”) – the wholesale monitoring business. ● Signature Security Group Pty Ltd (“SSG”) – the supply of monitoring, servicing and maintenance of contracted customers throughout Australia. ● Western Advance Pty Ltd (“WAPL”) – providing supply, installation and maintenance of security systems for infrastructure clients in the oil and mining and airport sectors ● B.N.P. Securities Pty Ltd (“BNP”) – providing contract manpower and electronic guarding solutions to commercial customers across schools, land banks and large developers ● Wormald NZ Limited (“Wormald”) – providing fire protection services across New Zealand to the owners of commercial buildings, healthcare operators and government bodies ● Red Wolf Security Limited (“Red Wolf”) – providing supply, installation and maintenance of high security products and services around the world on behalf of New Zealand Foreign Affairs Department and Intelligence Services Note 14 continued
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87 Notes to the consolidated financial statements 30 June 2026 The recoverable amount of the CGUs carrying assets was determined by a value-in- use calculation using a discounted cashflow model, based on a five-year projection period approved by management. Key assumptions are those assumptions to which the recoverable amount of an asset or CGU is most sensitive. The following key assumptions were used in the discounted cash flow models for each CGU for this impairment assessment: Assumption Approach used to determine values Projected revenue growth rate ➢ Estimated potential future risks have been considered within the forecast of revenue growth. Net margin ➢ The net margins for the CGUs sets the bar for future years targets and growth of these CGUs. Pre-tax discount rate ➢ Pre-tax discount rate reflects management’s estimate of the time value of money and the Group’s weighted average cost of capital adjusted for the CGUs, the risk-free rate and the volatility of the share price relative to market movements. Terminal growth rate ➢ The terminal growth rate is considered prudent and is justified as in line with the expected long-term industry growth. Projected revenue growth rate Net margin Pre-tax discount rate Terminal growth rate 2026 2025 2026 2025 2026 2025 2026 2025 % % % % % % % % Cash generating units: IMS Wholesale monitoring - 3.3% 13.7% 16.1% 12.8% 15.4% - 2.5% SSG retail monitoring and maintenance (1.1%) 3.3% 26.9% 9.2% 12.8% 15.4% - 2.5% ADT Australia 4.3% 3.3% 18.1% 20.2% 12.8% 15.4% - 2.5% ADT New Zealand 1.6% 3.3% 18.0% 24.3% 12.8% 15.0% - 2.5% Alarm Asset Group 0.2% 3.3% 18.7% 14.0% 12.8% 15.4% - 2.5% ACG Integration 2.6% 3.3% 28.1% 32.7% 12.8% 15.4% - 2.5% Dataline Visual Link (6.0%) 3.3% 17.9% 22.2% 12.8% 15.4% - 2.5% KOBE 0.6% 3.3% 23.9% 32.7% 12.8% 15.4% - 2.5% WAPL 5.8% - 20.7% - 12.8% - - - BNP 4.7% - 19.6% - 12.8% - - - Wormald New Zealand 3.0% - 10.4% - 12.8% - - - Red Wolf 0.6% - 11.9% - 12.8% - - - Note 14 continued
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88 Notes to the consolidated financial statements 30 June 2026 Sensitivity Management believes that reasonable changes to the key assumptions on which the recoverable amount is based would not cause the cash generating unit's carrying amount to exceed its recoverable amount. Note 15. Trade and other payables Refer to note 22 for further information on financial instruments. Consolidated 2026 2025 $'000 $'000 Cash generating units - goodwill value: IMS wholesale monitoring 4,860 5,359 SSG retail monitoring and maintenance 2,053 377 ADT Australia 3,894 5,071 ADT New Zealand 2,102 2,102 AAG 899 899 ACG Integration 9,972 9,972 DVL 3,865 3,865 KOBE 3,194 3,332 WAPL 2,363 - BNP 3,309 - Wormald 29,160 - Red Wolf 6,704 - 72,375 30,977 Consolidated 2026 2025 $'000 $'000 Current liabilities Trade payables 16,538 11,870 Accrued expenses 7,655 4,978 Payable to ATO 1,815 2,206 Other payables 3,966 4,138 29,974 23,192 Note 14 continued
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89 Notes to the consolidated financial statements 30 June 2026 Note 16. Contract liabilities Unsatisfied performance obligations The aggregate amount of the transaction price allocated to the performance obligations that are unsatisfied at the end of the reporting period was $6,358,000 as at 30 June 2026 ($6,821,000 as at 30 June 2025) and is expected to be recognised as revenue in future periods as follows: Consolidated 2026 2025 $'000 $'000 Current liabilities Contract liabilities 6,358 6,821 Reconciliation Reconciliation of the written down values at the beginning and end of the current and previous financial year are set out below: Opening balance 6,821 2,882 Additions through business combinations (note 29) 1,325 1,330 Transfer to revenue - included in the opening balance (8,146) (4,212) Amounts invoiced in advance 6,358 6,821 Closing balance 6,358 6,821 Consolidated 2026 2025 $'000 $'000 Within 6 months 4,451 5,084 6 to 12 months 1,271 1,059 12 to 18 months 636 678 6,358 6,821
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90 Notes to the consolidated financial statements 30 June 2026 Note 17. Borrowings Refer to note 22 for further information on financial instruments. Total secured liabilities Borrowings - National Australia Bank Limited ('NAB') The Group currently has borrowings provided by National Australia Bank ‘NAB’ set out as five distinct facilities. The type and terms for each are outlined below. The type and terms for each are outlined below. Security covering all of the NAB Banking Facilities is provided via a first ranking General Security Agreement ("GSA") over each of the companies in the Group as an Obligor, with a Cross Guarantee and Indemnity between the Company and all of the controlled entities as Guarantors." The principal facility is a $85,000,000 Corporate Market Loan Facility for which terms are: Consolidated 2026 2025 $'000 $'000 Current liabilities Other short-term borrowings 275 71 Accrued interest 321 200 596 271 Non-current liabilities National Australia Bank debt facility 122,049 85,000 Capitalised borrowing costs (1,130) (1,790) 120,919 83,210 ● Cash interest rate is variable and set at the commencement of each quarter commencing 17 March; 17 June; 17 September and 17 December of each year, at the BBSY rate plus 2.85% per annum, payable quarterly; ● 3 year term until 17 March 2028; ● No capital repayments during the term of the debt facility; and ● Upfront fee paid of $432,500, included in capitalised borrowing costs. ● The Group will have no difficulty complying with the financial covenants as listed below: The financial covenants are: - Interest Cover Ratio to be no less than 4.00x - Gross Leverage Ratio to be no greater than 3.25x - Dividends, distributions, share buy backs capped at 25% of net profit after tax ● This facility is fully drawn.
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91 Notes to the consolidated financial statements 30 June 2026 A secondary $35,000,000 Corporate Market Loan Acquisition Facility is in place for which the terms are: ● Undrawn fee of 50% of the Drawn Margin of 2.85%, payable quarterly; ● Drawn fee is variable and set at the commencement of each quarter commencing 17 March; 17 June; 17 September and 17 December of each year, at the BBSY rate plus 2.85% Drawn Margin per annum, payable quarterly; ● 3 year term until 17 March 2028; ● No capital repayments during the term of the acquisition facility; and ● An application fee of $122,500, being 0.35% of the facility amount, is payable as the facility is for each drawn down amount. ● This facility was fully drawn as at end of May 2026 to partially fund the acquisition of BlueSky Hold Co An additional $3,500,000 bank guarantee facility was established and its terms are: ● 3 year term until 17 March 2028; ● An annual service fee of $99,750 is payable, being 2.85% of the facility amount at a minimum of $125 per bank guarantee; ● A one off Issuance fee of $49,000 (based on the full amount of the facility), being 1.40% of the facility amount, is payable as the facility is drawn down and set at a minimum of $125 per bank guarantee; ● An application fee of $12,250 (based on the full amount of the facility), being 0.35% of the facility amount, is payable as the facility is drawn down; and ● No capital repayments during the term of the acquisition facility. ● This facility is partially drawn as at end of June 2026. A $1,000,000 vehicle lease and/or business fit-out facility with the following terms: ● The Bank’s standard fees and charges will apply to all transactions under this facility; and ● Each Participating Company must execute or accept the necessary transaction documentation to establish the Facility. ● This facility is partially drawn as at end of June 2026. Lastly a $350,000 credit card facility is held with NAB and its terms are: ● The Bank’s standard fees and charges will apply to all transactions under this facility; and ● Each Participating Company must execute or accept the necessary transaction documentation to establish the Facility. ● This facility is partially drawn as at end of June 2026. Note 17 continued
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92 Notes to the consolidated financial statements 30 June 2026 Financing arrangements Unrestricted access was available at the reporting date to the following lines of credit. The Group has not fully utilised its borrowings facilities at reporting date. Loan covenants The debt facility with NAB is subject to certain financial covenants and these are assessed at the end of every six month period, namely at the end of June and the end of December each year, within 30 days of the publication of the Annual Report and the Half Year Report. As at 30 June 2026, the Interest Cover Ratio is 4.3:1 and the Gross Leverage Ratio is 3.2:1. The facility will be repayable immediately if the covenants are breached. The Group is not aware of any facts or circumstances that indicate that it may have difficulty complying with the covenants within 12 months after the reporting period. There were no dividends paid, recommended or declared during the current financial period, and there are no current on market share buy-backs, nor were there any distributions for the Group during the current financial period. Consolidated 2026 2025 $'000 $'000 Total facilities Other short-term borrowings 275 71 NAB debt facility 85,000 85,200 NAB corporate market loan acquisition facility 35,000 35,000 NAB bank guarantee facility 3,500 3,500 NAB vehicle lease facility 1,000 1,000 NAB credit card facility 350 350 125,125 125,121 Used at the reporting date Other short-term borrowings 275 71 NAB debt facility 85,000 85,200 NAB corporate market loan acquisition facility 35,000 - NAB bank guarantee facility 2,049 3 NAB vehicle lease facility 181 181 NAB credit card facility 11 - 122,516 85,455 Unused at the reporting date Other short-term borrowings - - NAB debt facility - - NAB corporate market loan acquisition facility - 35,000 NAB bank guarantee facility 1,451 3,497 NAB vehicle lease facility 819 819 NAB credit card facility 339 350 2,609 39,666 Note 17 continued
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93 Notes to the consolidated financial statements 30 June 2026 Note 18. Lease liabilities Note 19. Provisions Consolidated 2026 2025 $'000 $'000 Current liabilities Lease liability 7,507 4,137 Non-current liabilities Lease liability 13,171 7,936 Refer to note 22 for the maturity analysis of lease liabilities. Consolidated 2026 2025 $'000 $'000 Current liabilities Employee benefits provision 9,213 7,067 Deferred consideration 1,293 2,691 Lease make good 1,449 953 Restructuring provision 120 - Warranties 177 125 12,252 10,836 Non-current liabilities Employee benefits provision 1,327 953 Lease make good 3,764 3,711 5,091 4,664 Deferred consideration The provision represents the obligation to pay contingent consideration following the acquisition of a business. It is measured at the present value of the estimated liability.
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94 Notes to the consolidated financial statements 30 June 2026 Note 20. Issued capital Lease make good The provision represents the present value of the estimated costs to make good the premises leased by the Group at the end of the respective lease terms. Warranties The provision represents the estimated warranty claims in respect of products sold which are still under warranty at the reporting date. The provision is estimated based on historical warranty claim information, sales levels and any recent trends that may suggest future claims could differ from historical amounts. Movements in provisions Movements in each class of provision during the current financial year, other than employee benefits, are set out below: Deferred considerat ion Lease make good Restructuri ng Warranties Consolidated - 2026 $'000 $'000 $'000 $'000 Carrying amount at the start of the year 2,691 4,664 - 125 Additional provisions recognised - 195 - - Additions through business combinations (note 28) - 354 120 69 Amounts used (1,398) - - (17) Carrying amount at the end of the year 1,293 5,213 120 177 Consolidated 2026 2025 2026 2025 Shares Shares $'000 $'000 Ordinary shares - fully paid 411,817,621 355,088,266 160,725 136,515 Note 19 continued
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95 Notes to the consolidated financial statements 30 June 2026 Movements in ordinary share capital Details Date Shares Issue price $'000 Balance 1 July 2024 301,809,817 111,602 Shares issued 14 November 2024 41,666,667 $0.480 20,000 Shares issued 29 November 2024 3,448,276 $0.580 2,000 Shares issued 5 December 2024 7,663,506 $0.480 3,678 Performance rights exercised 6 December 2024 500,000 $0.000 175 Transaction costs (940) Balance 30 June 2025 355,088,266 136,515 Shares issued for Adeva purchase 1 July 2025 1,636,364 $0.550 900 Exercise of warrants 26 August 2025 18,742,991 $0.230 4,311 Exercise of performance rights 11 November 2025 1,850,000 $0.000 277 Shares issued 22 December 2025 34,500,000 $0.580 20,010 Transaction costs (1,288) Balance 30 June 2026 411,817,621 160,725 Ordinary shares Ordinary shares entitle the holder to participate in any dividends declared and any proceeds attributable to shareholders should the Company be wound up, in proportions that consider both the number of shares held and the extent to which those shares are paid up. The fully paid ordinary shares have no par value and the Company does not have a limited amount of authorised capital. On a show of hands every member present at a meeting in person or by proxy shall have one vote and upon a poll each share shall have one vote. Share buy-back There is no current on-market share buy-back. Capital risk management The Group's objectives when managing capital is to safeguard its ability to continue as a going concern, so that it can provide returns for shareholders and benefits for other stakeholders and to maintain an optimum capital structure to reduce the cost of capital. Note 20 continued
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96 Notes to the consolidated financial statements 30 June 2026 Note 21. Reserves Capital is regarded as total equity, as recognised in the statement of financial position, plus net debt. Net debt is calculated as total borrowings less cash and cash equivalents. In order to maintain or adjust the capital structure, the Group may adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new shares or sell assets to reduce debt. The Group would look to raise capital when an opportunity to invest in a business or company was seen as value adding relative to the current Company's share price at the time of the investment. The Group continues to be open to additional investments in the short term as it continues to integrate and grow its existing businesses in order to maximise synergies. The Group is subject to certain financing arrangements covenants and meeting these is given priority in all capital risk management decisions. There have been no events of default on the financing arrangements during the financial year. The capital risk management policy remains unchanged from the 30 June 2025 Annual Report. Consolidated 2026 2025 $'000 $'000 Foreign currency reserve (1,503) 279 Share-based payments reserve 4,655 7,278 3,152 7,557 Foreign currency reserve The reserve is used to recognise exchange differences arising from the translation of the financial statements of foreign operations to Australian dollars. It is also used to recognise gains and losses on hedges of the net investments in foreign operations. Share-based payments reserve The reserve is used to recognise the value of equity benefits provided to employees and directors as part of their remuneration, and other parties as part of their compensation for services. Note 20 continued
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97 Notes to the consolidated financial statements 30 June 2026 Note 22. Financial instruments Movements in reserves Movements in each class of reserve during the current and previous financial year are set out below: Financial risk management objectives The Group's activities expose it to a variety of financial risks: market risk (including price risk and interest rate risk), credit risk and liquidity risk. The Group's overall risk management program focuses on the unpredictability of financial markets and seeks to minimise potential adverse effects on the financial performance of the Group. The Group uses different methods to measure different types of risk to which it is exposed. These methods include sensitivity analysis in the case of interest rate and equity price risks and ageing analysis for credit risk. Risk management is carried out by senior finance executives ('finance') under policies approved by the Board of directors ('the Board'). These policies include identification and analysis of the risk exposure of the Group and appropriate procedures, controls and risk limits. Finance identifies, evaluates and hedges financial risks within the Group's operating units. Finance reports to the Board on a monthly basis. Foreign currency Share- based payments Total Consolidated $'000 $'000 $'000 Balance at 1 July 2024 (411) 6,506 6,095 Foreign currency translation 690 - 690 Share-based payment expense - 947 947 Performance rights exercised - (175) (175) Balance at 30 June 2025 279 7,278 7,557 Foreign currency translation (1,782) - (1,782) Share-based payment expense - (773) (773) Performance rights exercised - (1,850) (1,850) Balance at 30 June 2026 (1,503) 4,655 3,152 Note 21 continued
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98 Notes to the consolidated financial statements 30 June 2026 Market risk Price risk The Group is not exposed to any significant price risk. Interest rate risk The Group's main interest rate risk arises from long-term borrowings. Borrowings obtained at variable rates expose the Group to interest rate risk. Borrowings obtained at fixed line rate plus BBSY rate expose the Group to fair value interest rate risk. As at the reporting date, the Group had the following variable rate borrowings outstanding: 2026 2025 Weighted average interest rate Balance Weighted average interest rate Balance Consolidated % $'000 % $'000 Loans* 6.88% 121,240 6.61% 83,410 Net exposure to cash flow interest rate risk 121,240 83,410 * Excludes capitalised borrowing costs An analysis by remaining contractual maturities is shown in 'liquidity and interest rate risk management' below. For the Group the loans outstanding totalling $121,240,000 (2025: $83,410,000), are interest only loans. Cash outlays of approximately $2,233,000 per quarter (2025: $1,378,000 per quarter) are required to service the interest payments. An official increase/decrease in interest rates of 100 basis points would have an adverse/favourable effect on profit before tax of $1,212,000 (2025: $834,000) per annum. The percentage change is based on the expected volatility of interest rates using market data and analysts forecasts. Note 22 continued
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99 Notes to the consolidated financial statements 30 June 2026 Credit risk Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to the Group. The Group has a strict code of credit, including obtaining agency credit information, confirming references and setting appropriate credit limits. The Group obtains guarantees where appropriate to mitigate credit risk. The maximum exposure to credit risk at the reporting date to recognised financial assets is the carrying amount, net of any provisions for impairment of those assets, as disclosed in the statement of financial position and notes to the financial statements. The Group does not hold any collateral. The Group has adopted a lifetime expected loss allowance in estimating expected credit losses to trade receivables through the use of a provisions matrix using fixed rates of credit loss provisioning. These provisions are considered representative across all customers of the Group based on recent sales experience, historical collection rates and forward-looking information that is available. Generally, trade receivables are written off when there is no reasonable expectation of recovery. Indicators of this include the failure of a debtor to engage in a repayment plan, no active enforcement activity and a failure to make contractual payments for a period greater than 1 year. Liquidity risk Vigilant liquidity risk management requires the Group to maintain sufficient liquid assets (mainly cash and cash equivalents) and available borrowing facilities to be able to pay debts as and when they become due and payable. The Group manages liquidity risk by maintaining adequate cash reserves and available borrowing facilities by continuously monitoring actual and forecast cash flows and matching the maturity profiles of financial assets and liabilities. Financing arrangements Unused borrowing facilities at the reporting date: Consolidated 2026 2025 $'000 $'000 NAB corporate market loan acquisition facility - 35,000 NAB bank guarantee facility 1,451 3,497 NAB vehicle lease facility 819 819 NAB credit card facility 339 350 2,609 39,666 Note 22 continued
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100 Notes to the consolidated financial statements 30 June 2026 Remaining contractual maturities The following tables detail the Group's remaining contractual maturity for its financial instrument liabilities. The tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the financial liabilities are required to be paid. The tables include both interest and principal cash flows disclosed as remaining contractual maturities and therefore these totals may differ from their carrying amount in the statement of financial position. Weighted average interest rate 1 year or less Between 1 and 2 years Between 2 and 5 years Over 5 years Remaining contractual maturities Consolidated - 2025 % $'000 $'000 $'000 $'000 $'000 Non-derivatives Non-interest bearing Trade payables - 11,870 - - - 11,870 Other payables - 4,138 - - - 4,138 Interest-bearing - variable NAB debt facility 6.61% - - 85,000 - 85,000 Lease liability 12.00% 3,989 4,570 3,472 42 12,073 Interest-bearing - fixed rate Short term borrowings - 71 - - - 71 Total non-derivatives 20,068 4,570 88,472 42 113,152 Weighted average interest rate 1 year or less Between 1 and 2 years Between 2 and 5 years Over 5 years Remaining contractual maturities Consolidated - 2026 % $'000 $'000 $'000 $'000 $'000 Non-derivatives Non-interest bearing Trade payables - 16,538 - - - 16,538 Other payables - 3,966 - - - 3,966 Interest-bearing - variable NAB debt facility 6.88% - 122,135 - - 122,135 Lease liability 8.10% 7,507 6,047 7,006 118 20,678 Interest-bearing - fixed rate Short term borrowings 6.15% 275 - - - 275 Total non-derivatives 28,286 128,182 7,006 118 163,592 Note 22 continued
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101 Notes to the consolidated financial statements 30 June 2026 Note 23. Fair value measurement Fair value of financial instruments Unless otherwise stated, the carrying amounts of financial instruments reflect their fair value. The carrying amounts of trade and other receivables and trade and other payables are assumed to approximate their fair values due to their short-term nature. Note 24. Key management personnel disclosures Compensation The aggregate compensation made to directors and other members of key management personnel of the Group is set out below: Consolidated 2026 2025 $ $ Short-term employee benefits 1,345,514 1,186,819 Post-employment benefits 96,004 90,959 Termination benefits 38,403 - Share-based payments - 2,124,000 1,479,921 3,401,778 Note 22 continued
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102 Notes to the consolidated financial statements 30 June 2026 Note 25. Remuneration of auditors During the financial year the following fees were paid or payable for services provided by BDO Audit Pty Ltd, the auditor of the Company: Note 26. Contingent liabilities The Group had open contingent liabilities as at 30 June 2026. Consolidated 2026 2025 $'000 $'000 Contingent liabilities Based on future performance of KOBE acquisition 1,293 1,551 Consolidated 2026 2025 $ $ Audit services – BDO Audit or review of the financial statements 508,000 429,000 Audit or review of the financial statements - New Zealand 55,000 40,000 563,000 469,000 Non-audit services - BDO NZ Non-assurance works related to ADEVA - New Zealand 16,000 - Audit services - PwC Audit or review of the financial statements - New Zealand 53,500 - As part of the 2026 financial year fees were paid or payable for services provided by PwC Pty Ltd as component auditor of the company.
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103 Notes to the consolidated financial statements 30 June 2026 Note 27. Related party transactions Parent entity Intelligent Monitoring Group Limited is the parent entity. Subsidiaries Interests in subsidiaries are set out in note 30. Key management personnel Disclosures relating to key management personnel are set out in note 24 and the remuneration report included in the directors' report. Transactions with related parties The following transactions occurred with related parties: Consolidated 2026 2025 $ $ Payment for other expenses: Moreton Resources Pty Ltd is a company controlled by Mr Alexander (Jason) Elks which provided business restructuring services to Intelligent Monitoring Group Limited during the period. 258,765 152,383 Receivable from and payable to related parties There were no trade receivables from or trade payables to related parties at the current and previous reporting date. Loans to/from related parties There were no loans to or from related parties at the current and previous reporting date. Terms and conditions All transactions were made on normal commercial terms and conditions and at market rates.
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104 Notes to the consolidated financial statements 30 June 2026 Note 28. Parent entity information Set out below is the supplementary information about the parent entity. Statement of profit or loss and other comprehensive income Statement of financial position Guarantees entered into by the parent entity in relation to the debts of its subsidiaries The parent entity and some of its subsidiaries are party to a deed of cross guarantee under which each company guarantees the debts of the others. Parent 2026 2025 $'000 $'000 Loss after income tax (14,671) (19,029) Total comprehensive income (14,671) (19,029) Parent 2026 2025 $'000 $'000 Total current assets 7,439 27,648 Total assets 175,949 107,441 Total current liabilities 7,353 2,706 Total liabilities 129,618 71,361 Equity Issued capital 208,840 184,464 Share-based payments reserve 5,320 4,774 Accumulated losses (167,829) (153,158) Total equity 46,331 36,080
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105 Notes to the consolidated financial statements 30 June 2026 Note 29. Business combinations Contingent liabilities The parent entity had no contingent liabilities as at 30 June 2026 and 30 June 2025. Capital commitments - Property, plant and equipment The parent entity had no capital commitments for property, plant and equipment as at 30 June 2026 and 30 June 2025. Material accounting policy information The accounting policies of the parent entity are consistent with those of the Group, as disclosed in note 2, except for the following: ● Investments in subsidiaries are accounted for at cost, less any impairment, in the parent entity. ● Dividends received from subsidiaries are recognised as other income by the parent entity and its receipt may be an indicator of an impairment of the investment. Western Advance Pty Ltd ('WAPL’) On 2 September 2025, the Company acquired all the shares in Western Advance Pty Ltd ('WAPL') for the consideration of $4,500,000, plus the customary working capital adjustments. WAPL is a long standing and leading provider of security services in WA, and in particular to the Oil & Gas space. The cash payment was funded from operational cash flows, and this acquisition is expected to be immediately earnings accretive. The business added revenue of $5,629,607 and profit of $827,289 since acquisition, and on a proforma 12 month basis adds $7,506,143 revenue and $1,103,052 profit to the group. Note 28 continued
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106 Notes to the consolidated financial statements 30 June 2026 B.N.P. Securities Pty Ltd ('BNP’) On 1 October 2025, the Company acquired all the shares in B.N.P. Securities Pty Ltd ('BNP') through its subsidiary ADT Security Group Pty Ltd. for a cash consideration of $4,200,000, plus the customary working capital adjustments. The acquisition will strategically expand ADT's Australian operating footprint into the large security guarding market. BNP will provide ADT Guard a strong platform to pursue an industry-wide rollout of IMG's ADT Guard video strategy into an area currently dominated by physical manpower. The cash payment was funded from operational cash flows, and this acquisition is expected to be immediately earnings accretive. The business added revenue of $4,308,362 and profit of $785,567 since acquisition, and on a proforma 12 month basis adds $6,462,543 revenue and $1,178,351 profit to the group. BlueSky Holdco Limited (‘IMG Holdings NZ Limited’) On 29 May 2025, the Company acquired BlueSky Holdco Limited, renamed to IMG Holdings NZ Limited ('IMG NZ') for a cash consideration of NZD $45,000,000, subject to customary adjustments for working capital, cash and debt amounts on completion. IMG NZ is the parent entity for Wormald NZ Limited and Red Wolf Security Limited. Wormald NZ is a leading fire protection service company and Red Wolf is a high-level security provider, with both businesses providing ongoing service, maintenance and installations for commercial customers across New Zealand under the Wormald and Red Wolf brands. The acquisition will materially enhance the Group's commercial footprint in NZ by adding a stable business with a strong revenue base, while also allowing for the introduction of the Group's leading security products to commercial NZ in a significantly enhanced and more rapid fashion. The cash payment was funded in part from the National Australia Bank acquisition facility and operational cash flows. This acquisition has been immediately earnings accretive. The business added revenue of $6,505,803 and profit of $411,059 since acquisition, and on a proforma 12-month basis adds $66,168,311 revenue and $10,150,215 profit to the group. The values in relation to the acquisition of IMG NZ are provisional as at 30 June 2026. Note 29 continued
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107 Notes to the consolidated financial statements 30 June 2026 Details of the acquisitions are as follows: WAPL BNP IMG NZ Fair value Fair value Fair value Total $'000 $'000 $'000 $'000 Current assets Cash and cash equivalents 1,133 53 4,815 6,001 Trade and other receivables 1,711 732 8,533 10,976 Other current assets 772 1 2,600 3,373 Non-current assets Plant and Equipment 41 135 243 419 Motor vehicles 171 - - 171 Right-of-use assets 623 - 7,468 8,091 Brands and intellectual property 199 - - 199 Customer contracts 2,209 1,488 148 3,845 Other non-current assets 13 - - 13 Current liabilities Trade and other payables (1,645) (418) (7,723) (9,786) Contract liabilities - - (1,325) (1,325) Lease liabilities (113) - (2,857) (2,970) Provision (586) - (2,009) (2,595) Non-current liabilities Deferred tax liability (722) (446) - (1,168) Secured loan - (126) - (126) Lease liabilities (509) - (4,610) (5,119) Provisions (323) (311) (1,144) (1,778) Net assets acquired 2,974 1,108 4,139 8,221 Goodwill 2,363 3,309 35,865 41,537 Acquisition-date fair value of the total consideration transferred 5,337 4,417 40,004 49,758 Representing: Cash paid or payable to vendor 5,337 4,417 40,004 49,758 Cash used to acquire business, net of cash acquired: Acquisition-date fair value of the total consideration transferred 5,337 4,417 40,004 49,758 Less: cash and cash equivalents (1,133) (53) (4,815) (6,001) Net cash used 4,204 4,364 35,189 43,757 Note 29 continued
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108 Notes to the consolidated financial statements 30 June 2026 Finalisation of acquisitions from the previous financial year The acquisition of KOBE was provisional as at 30 June 2025. This acquisition has been subsequently finalised with some changes to intangibles including goodwill. Details of the changes are as follows: KOBE Fair value at 30 Jun 2025 Fair value change Final fair value $'000 $'000 $'000 Current assets: Cash and cash equivalents 311 - 311 Trade and other receivables 911 - 911 Contract assets 31 - 31 Inventories 343 - 343 Non-current assets: Plant and equipment 156 - 156 Motor vehicles 128 - 128 Customer contracts 5,687 198 5,885 Current liabilities: Trade and other payables (208) - (208) Other payables (183) - (183) Provision for income tax (654) - (654) Employee benefits (34) - (34) Non-current liabilities: Deferred tax liability (1,706) - (1,706) Net assets acquired 4,782 198 4,980 Goodwill 3,332 (139) 3,193 Acquisition-date fair value of the total consideration transferred 8,114 59 8,173 Representing: Cash paid or payable to vendor 6,563 - 6,563 Further consideration 1,551 59 1,610 8,114 59 8,173 Cash used to acquire business, net of cash acquired: Acquisition-date fair value of the total consideration transferred 8,114 59 8,173 Less: cash and cash equivalents (311) - (311) Less: payments to be made in future periods (1,551) - (1,551) Net cash used 6,252 59 6,311 Note 29 continued
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109 Notes to the consolidated financial statements 30 June 2026 Note 30. Interests in subsidiaries The consolidated financial statements incorporate the assets, liabilities and results of the following subsidiaries in accordance with the accounting policy described in note 2: Ownership interest Principal place of business / 2026 2025 Name Country of incorporation % % IMG Group Holdings Pty Ltd Australia 100% 100% Intelligent Monitoring Solutions Pty Ltd Australia 100% 100% Threat Protect Security Services Pty Ltd Australia 100% 100% AVMC (Aust) Pty Ltd Australia 100% 100% Security Alarm Monitoring Service Pty Ltd Australia 100% 100% Mammoth Technology Group Pty Ltd Australia 100% 100% Onwatch Pty Ltd Australia 100% 100% Mammoth Security Pty Ltd Australia 100% 98% Adeva Home Solutions Pty Ltd Australia 100% 98% ADT Security Group Pty Ltd Australia 100% 100% ADT Security Limited New Zealand 100% 100% ACG Integration Pty Ltd Australia 100% 100% ACG Integration (VIC) Pty Ltd Australia 100% 100% Opela Pty Ltd Australia 75% 75% Everjazz Pty Limited Australia 100% 100% Dataline Visual Link Pty Ltd Australia 100% 100% KOBE Pty Ltd Australia 100% 100% IMG Connect NZ Limited New Zealand 100% 100% Western Advance Pty Ltd * Australia 100% - BNP Securities Pty Ltd ** Australia 100% - IMG Holdings NZ Limited *** New Zealand 100% - Wormald NZ Limited *** New Zealand 100% - Red Wolf Security Limited *** New Zealand 100% - IMG Holdings UK Ltd**** United Kingdom 100% - * Acquired on 1 September 2025 ** Acquired on 1 October 2025 *** Acquired on 29 May 2026 **** Incorporated on 25 June 2026
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110 Notes to the consolidated financial statements 30 June 2026 Note 31. Deed of cross guarantee The following entities are party to a deed of cross guarantee under which each company guarantees the debts of the others: Intelligent Monitoring Group Limited Intelligent Monitoring Solutions Pty Ltd Threat Protect Security Services Pty Ltd AVMC (Aust) Pty Ltd Security Alarm Monitoring Service Pty Ltd Onwatch Pty Ltd Mammoth Security Pty Ltd ADT Security Group Pty Ltd By entering into the deed, the wholly-owned entities have been relieved from the requirement to prepare financial statements and directors' report under Corporations Instrument 2016/785 issued by the Australian Securities and Investments Commission. The above companies represent a 'Closed Group' for the purposes of the Corporations Instrument, and as there are no other parties to the deed of cross guarantee that are controlled by Intelligent Monitoring Group Limited, they also represent the 'Extended Closed Group'. Set out below is a consolidated statement of profit or loss and other comprehensive income and statement of financial position of the 'Closed Group'. 2026 2025 Statement of profit or loss and other comprehensive income $'000 $'000 Revenue from contracts with customers 77,848 68,009 Cost of sales - operations (43,353) (45,037) Cost of sales - depreciation and amortisation (7,199) (8,460) Other income 2,671 1,571 Administration (21,408) (17,905) Compliance and regulatory costs (694) (1,227) Marketing and business development expenses (1,252) (1,684) Depreciation and amortisation (6,010) (7,148) Business acquisition, integration and restructuring costs (2,596) (1,337) Impairment of receivables (2,181) (1,106) Impairment of assets (2,292) (2,253) Share-based payments expense (1,965) (1,139) Finance costs (7,900) (15,614) Loss before income tax benefit (16,331) (33,330) Income tax benefit - 1,275 Loss after income tax benefit (16,331) (32,055) Other comprehensive income for the year, net of tax - - Total comprehensive income for the year (16,331) (32,055)
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111 Notes to the consolidated financial statements 30 June 2026 2026 2025 Equity - accumulated losses $'000 $'000 Accumulated losses at the beginning of the financial year (126,197) (94,142) Loss after income tax benefit (16,331) (32,055) Accumulated losses at the end of the financial year (142,528) (126,197) 2026 2025 Statement of financial position $'000 $'000 Current assets Cash and cash equivalents 10,644 6,233 Trade and other receivables 10,891 7,368 Contract assets 2,232 1,566 Finished goods 3,477 2,578 Other 2,101 2,269 29,345 20,014 Non-current assets Trade and other receivables 4,478 2,817 Investment in subsidiaries 86,912 37,523 Property, plant and equipment 6,437 9,100 Right-of-use assets 7,296 7,974 Intangibles 41,395 49,650 146,518 107,064 Total assets 175,863 127,078 Current liabilities Trade and other payables 12,739 12,710 Contract liabilities 1,744 1,837 Lease liabilities 3,934 3,257 Income tax payable 6,219 582 Provisions 1,789 3,778 26,425 22,164 Non-current liabilities Borrowings 122,049 85,000 Lease liabilities 4,423 5,780 Provisions 2,940 2,700 129,412 93,480 Total liabilities 155,837 115,644 Net assets 20,026 11,434 Equity Issued capital 157,899 133,522 Reserves 4,655 4,109 Accumulated losses (142,528) (126,197) Total equity 20,026 11,434 Note 31 continued
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112 Notes to the consolidated financial statements 30 June 2026 Note 32. Reconciliation of loss after income tax to net cash from operating activities Note 33. Non-cash investing and financing activities Consolidated 2026 2025 $'000 $'000 Profit/(loss) after income tax benefit/(expense) for the year 999 (21,785) Adjustments for: Depreciation and amortisation 23,135 22,448 Share-based payments 1,965 947 Impairment of assets - 4,373 Impairment/(recovery) of receivables 3,027 2,850 Borrowing costs capitalised - 1,790 Interest capitalised to borrowings - 200 Change in operating assets and liabilities: Decrease/(increase) in trade and other receivables (700) (5,417) Decrease/(increase) in finished goods 2,593 (3,838) Increase in prepayments (2,381) (1,120) Increase/(decrease) in trade and other payables (3,266) 3,199 Increase in provision for income tax 2,819 5,148 Increase/(decrease) in deferred tax liabilities (622) 5,690 Decrease in employee benefits (1,718) (423) Decrease in other provisions (59) (45) Decease in deferred consideration (3,973) (2,691) Decrease in make good provision 195 (735) Net cash from operating activities 22,014 10,591 Consolidated 2026 2025 $'000 $'000 Additions to the right-of-use assets 3,966 1,818 Shares issued in relation to business combinations - 1,793 Shares issued to exercise buy-back option of Adeva 900 - 4,866 3,611
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113 Notes to the consolidated financial statements 30 June 2026 Note 34. Changes in liabilities arising from financing activities Note 35. Earnings per share Short term borrowing s Long term borrowing s Lease liabilities Total Consolidated $'000 $'000 $'000 $'000 Balance at 1 July 2024 21,430 57,749 9,800 88,979 Net cash from/(used in) financing activities (21,159) 25,461 (4,568) (266) Acquisition of leases - - 4,065 4,065 Changes through business combinations (note 29) - - 191 191 Finance costs - - 264 264 Balance at 30 June 2025 271 83,210 9,752 93,233 Net cash from/(used in) financing activities 325 37,049 (5,906) 31,468 Acquisition of leases - - 8,503 8,503 Changes through business combinations (note 29) - - 8,089 8,089 Foreign exchange differences - - (84) (84) Balance at 30 June 2026 596 120,259 20,354 141,209 Consolidated 2026 2025 $'000 $'000 Profit/(loss) after income tax 999 (21,785) Non-controlling interest profit/(loss) - (83) Profit/(loss) after income tax attributable to the owners of Intelligent Monitoring Group Limited 999 (21,868)
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114 Notes to the consolidated financial statements 30 June 2026 Note 36. Share-based payments Number Number Weighted average number of ordinary shares used in calculating basic earnings per share 391,821,299 334,623,810 Weighted average number of ordinary shares used in calculating diluted earnings per share 391,821,299 334,623,810 As at the reporting date, the Company had 11,150,000 (2025: 12,800,000) performance rights over ordinary shares that could potentially dilute basic earnings per share in the future but were excluded from the calculation of diluted earnings per share because they were anti-dilutive. IMG Employee Incentive Plan ('EIP') Shares issued pursuant to this plan ('incentive shares') are for services rendered by eligible employees to date and, going forward, for services rendered by existing and new eligible employees. The Group’s EIP provides some senior executives and employees with a significant incentive over and above their base salary. The EIP was established to align the interests of senior management with Shareholders and to provide an incentive for employees to extend their employment terms with the Group. The experience of senior employees is an important factor in the long‐term success of the Group. Performance rights During the period, the Company issued 1 tranche of performance rights totalling 200,000 to its employees following approval from shareholders at the Company's AGM held on 10 November 2025. These performance rights were valued at $127,000 and will be expensed over the vesting period. Cents Cents Basic earnings per share 0.25 (6.54) Diluted earnings per share 0.25 (6.54) Note 35 continued
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115 Notes to the consolidated financial statements 30 June 2026 The rights were valued using the Black Scholes model. Key vesting conditions of the rights are as follows: Tranche 1 200,000 performance rights subject to a service vesting condition that the recipient employees remain employed by the Company for a period of 18 months from the grant date. Set out below are summaries of performance rights granted under the plan: 2026 Balance at Expired/ Balance at Exercise the start of forfeited / the end of Grant date Expiry date price the year Granted Exercised other the year 05/12/2022 04/12/2025 $0.000 1,850,000 - (1,850,000) - - 31/10/2023 31/12/2026 $0.000 4,500,000 - - - 4,500,000 31/10/2023 30/06/2027 $0.000 1,500,000 - - - 1,500,000 29/10/2024 29/04/2026 $0.000 2,650,000 - - - 2,650,000 15/01/2025 30/06/2026 $0.000 2,300,000 - - - 2,300,000 11/11/2025 30/06/2026 $0.000 - 200,000 - - 200,000 12,800,000 200,000 (1,850,000) - 11,150,000 2025 Balance at Expired/ Balance at Exercise the start of forfeited/ the end of Grant date Expiry date price the year Granted Exercise d other the year 01/12/2021 30/11/2024 $0.000 1,850,000 - (500,000) (1,350,000) - 05/12/2022 04/12/2025 $0.000 1,850,000 - - - 1,850,000 31/10/2023 31/12/2026 $0.000 4,500,000 - - - 4,500,000 31/10/2023 30/06/2027 $0.000 1,500,000 - - - 1,500,000 29/10/2024 29/04/2026 $0.000 - 2,650,000 - - 2,650,000 15/01/2025 30/06/2026 $0.000 - 2,300,000 - - 2,300,000 9,700,000 4,950,000 (500,000) (1,350,000) 12,800,000 Note 36 continued
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116 Notes to the consolidated financial statements 30 June 2026 The weighted average remaining contractual life of performance rights outstanding at the end of the financial year was 1.7 years (2025: 1.4 years). For the performance rights granted during the current financial year, the valuation model inputs used to determine the fair value at the grant date, are as follows: Share price Exercise Expected Dividend Risk-free Fair value Grant date Expiry date at grant date price volatility yield interest rate at grant date 11/11/2025 30/06/2029 $0.635 $0.000 40.00% - 4.00% $0.635 Warrants In August 2025 the Company announced that 18,742,991 warrants previously issued to the TOR/LCI consortium that were the prior debt holders had been exercised. The warrants were valued at $4,310,888 and were amortised over the life of the previous debt facility. During the current financial period each warrant was exercised into one fully-paid ordinary share in the Company. Set out below is the movement of warrants for the period: Number of warrants Weighted average exercise price Number of warrants Weighted average exercise price 2026 2026 2025 2025 Outstanding at the beginning of the financial year 18,742,991 $0.000 18,742,991 $0.000 Exercised (18,742,991) $0.000 - $0.000 Outstanding at the end of the financial year - $0.000 18,742,991 $0.000 Exercisable at the end of the financial year - $0.000 - $0.000 Note 36 continued
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117 Notes to the consolidated financial statements 30 June 2026 Note 37. Events after the reporting period On 2 July 2026 the Company announced that it has entered into a binding agreement to acquire ADT's residential security business in the United Kingdom ("ADT UK Residential") for GBP £180 million consideration. ADT UK Residential is one of the United Kingdom's most established and recognised residential security providers. On 20 July 2026 the Company appointed David Cavanagh as Chief Financial Officer. No other matter or circumstance has arisen since 30 June 2026 that has significantly affected, or may significantly affect the Group's operations, the results of those operations, or the Group's state of affairs in future financial years.
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118 Consolidated entity disclosure statement As at 30 June 2026 Ownershi p Foreign jurisdiction(s ) in which the entity is a resident for tax purposes (according to the law of the Entity name Entity type Australian resident interest % foreign jurisdiction) Intelligent Monitoring Group Limited Body corporate Yes * N/A IMG Group Holdings Pty Ltd Body corporate Yes * 100% N/A Intelligent Monitoring Solutions Pty Ltd Body corporate Yes * 100% N/A Threat Protect Security Services Pty Ltd Body corporate Yes * 100% N/A AVMC (Aust) Pty Ltd Body corporate Yes * 100% N/A Security Alarm Monitoring Service Pty Ltd Body corporate Yes * 100% N/A Mammoth Technology Group Pty Ltd Body corporate Yes * 100% N/A Onwatch Pty Ltd Body corporate Yes * 100% N/A Mammoth Security Pty Ltd Body corporate Yes 98% N/A Adeva Home Solutions Pty Ltd Body corporate Yes 98% N/A ADT Security Group Pty Ltd Body corporate Yes * 100% N/A ADT Security Limited Body corporate No 100% New Zealand ACG Integration Pty Ltd Body corporate Yes * 100% N/A ACG Integration (VIC) Pty Ltd Body corporate Yes * 100% N/A Opela Pty Ltd Body corporate Yes * 75% N/A Everjazz Pty Limited Body corporate Yes * 100% N/A Dataline Visual Link Pty Ltd Body corporate Yes * 100% N/A KOBE Pty Ltd Body corporate Yes * 100% N/A Western Advance Pty Ltd Body corporate Yes * 100% N/A BNP Securities Pty Ltd Body corporate Yes * 100% N/A IMG Connect NZ Limited Body corporate No 100% New Zealand IMG Holdings NZ Limited Body corporate No 100% New Zealand Wormald NZ Limited Body corporate No 100% New Zealand Red Wolf Security Limited Body corporate No 100% New Zealand IMG Holdings UK Ltd Body corporate No 100% United Kingdom * Intelligent Monitoring Group Limited (the 'head entity') and its wholly and substantially owned Australian subsidiaries have formed an income tax consolidated group under the tax consolidation regime.
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119 Dennison Hambling Managing Director 26 August 2026 Directors’ Declaration 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 ➢ the attached financial statements and notes comply with the Corporations Act 2001, the Accounting Standards, the Corporations Regulations 2001 and other mandatory professional reporting requirements; ➢ the attached financial statements and notes comply with International Financial Reporting Standards Accounting Standards as issued by the International Accounting Standards Board as described in note 2 to the financial statements; ➢ the attached financial statements and notes give a true and fair view of the Group's financial position as at 30 June 2026 and of its performance for the financial year ended on that date; ➢ there are reasonable grounds to believe that the Company will be able to pay its debts as and when they become due and payable; ➢ at the date of this declaration, there are reasonable grounds to believe that the members of the Extended Closed Group will be able to meet any obligations or liabilities to which they are, or may become, subject by virtue of the deed of cross guarantee described in note 30 to the financial statements; and In the directors’ opinion:
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BDO Place Level 19, 30 Pirie Street Adelaide SA 5000 GPO Box 2018 Adelaide SA 5001 Australia Tel: +61 8 7324 6000 Fax: +61 8 7324 6111 www.bdo.com.au 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. INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF INTELLIGENT MONITORING GROUP LIMITED Report on the Audit of the Financial Report Opinion We have audited the financial report of Intelligent Monitoring Group Limited (the Company) and its subsidiaries (the Group), which comprises the consolidated statement of financial position as at 30 June 2026, 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 year then ended, and notes to the financial report, including material accounting policy information, the consolidated entity disclosure statement and the directors’ declaration. In our opinion the accompanying financial report of the Group, is in accordance with the Corporations Act 2001, including: (i) Giving a true and fair view of the Group’s financial position as at 30 June 2026 and of its financial performance for the year ended on that date; and (ii) Complying with Australian Accounting Standards and the Corporations Regulations 2001. Basis for opinion We conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit 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 audits of the financial report of public interest entities 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 in the same terms if given to the directors as at the time of this auditor’s report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Key audit matters Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the financial report of the current period. These matters were addressed in the context of our audit of the financial report as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.
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Recoverability of Intangible Assets and Goodwill Key audit matter How the matter was addressed in our audit Note 14 of the financial report discloses the intangible assets including goodwill and the assumptions used by the Group in testing these assets for impairment. Note 3 of the financial report discloses that the assessment of impairment involves critical accounting estimates and judgements. As required by the Australian Accounting Standards, the Group performs an annual impairment test for each Cash Generating Unit (‘CGU’) to which goodwill and other intangible assets have been allocated, to determine whether the recoverable amount is below the carrying amount as at 30 June 2026. This was determined to be a key audit matter as the determination of the value in use of each CGU and whether or not an impairment charge is necessary, involved judgements by management about the future revenue growth rates, net margin and terminal growth rates of the business in each CGU, discount rates applied to the future cash flow forecast for each CGU and sensitivities of inputs and assumptions used in the cash flow model. Our procedures included, but were not limited to the following: Evaluating the appropriateness of the Group’s categorisation of CGUs and the allocation of goodwill and assets to the carrying value of CGUs based on our understanding of the Group’s business Challenging key inputs used in management’s impairment assessment including the following: - In conjunction with our valuation specialists, comparing the discount rate utilised by management to an independently calculated discount rate - Performing sensitivity analysis on key financial assumptions in the models. These included net margin, revenue growth rates, terminal growth rates and discount rates applied - Assessing the Group’s forecasted cash flows for consistency with our knowledge of the business, board approved budget and corroborating our work with external information where possible, and Assessing the adequacy of related disclosures in Note 3 and 14 of the financial report. Business Combinations Key audit matter How the matter was addressed in our audit Note 29 of the financial report discloses the business combinations of the Group. The Group completed the acquisition of the following businesses during the period: Western Advance Pty Ltd (“WAPL”), BNP Securities Pty Ltd (“BNP”), and BlueSky Holdco Limited, subsequently renamed IMG Holdings NZ Limited (“IMG NZ”). This was determined to be a key audit matter as the accounting for business combinations involved significant judgements and estimates by management Our procedures included, but were not limited to the following: Reading key executed transaction documents to understand the key terms and conditions of the transaction Comparing the assets and liabilities recognised on acquisition against the executed agreements and historical financial information of the acquired business Obtaining a copy of the external valuation report to critically assess the determination of the fair
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Key audit matter How the matter was addressed in our audit in assessing the determination of the fair value of assets and liabilities acquired, in particular the identification and valuation of intangible assets. The amounts disclosed for the IMG NZ business combination are provisional at 30 June 2026. Furthermore, during the financial year management finalised the provisionally accounted for acquisition of KOBE Pty Ltd, acquired in the prior financial year. values of identifiable intangible assets associated with the acquisition In conjunction with internal and management experts, we: - Assessed the identification of intangible assets acquired including customer contracts along with the valuation methodologies used to value those assets - Challenged the associated underlying forecast cash flows for the customer contracts including forecast growth rates, customer attrition and royalty rates applied, by comparing them to historical results, business trends and economic and industry forecasts - Evaluated discount rates used by assessing the cost of capital applied in the valuation by comparing them to market data and industry research Assessing the appropriateness of the Group’s disclosures in respect of each acquisition. Other information The directors are responsible for the other information. The other information comprises the information in the Group’s annual report for the year ended 30 June 2026, but does not include the financial report and the auditor’s report thereon. Our opinion on the financial report does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial report, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial report or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Responsibilities of the directors for the Financial Report The directors of the Company are responsible for the preparation of: a) the financial report that gives a true and fair view in accordance with Australian Accounting Standards and the Corporations Act 2001 and b) the consolidated entity disclosure statement that is true and correct in accordance with the Corporations Act 2001, and for such internal control as the directors determine is necessary to enable the preparation of:
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i ) the financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error; and ii) the consolidated entity disclosure statement that is true and correct and is free of misstatement, whether due to fraud or error. In preparing the financial report, the directors are responsible for assessing the ability of the group to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or to cease operations, or has no realistic alternative but to do so. Auditor’s responsibilities for the audit of the Financial Report Our objectives are to obtain reasonable assurance about whether the financial report as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the Australian Auditing Standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this financial report. A further description of our responsibilities for the audit of the financial report is located at the Auditing and Assurance Standards Board website (http://www.auasb.gov.au/Home.aspx) at: https://www.auasb.gov.au/media/bwvjcgre/ar1_2024.pdf This description forms part of our auditor’s report. Report on the Remuneration Report Opinion on the Remuneration Report We have audited the Remuneration Report included in pages 32 to 42 of the directors’ report for the year ended 30 June 2026. In our opinion, the Remuneration Report of Intelligent Monitoring Group Limited, for the year ended 30 June 2026, complies with section 300A of the Corporations Act 2001. Responsibilities The directors of the Company are responsible for the preparation and presentation of the Remuneration Report in accordance with section 300A of the Corporations Act 2001. Our responsibility is to express an opinion on the Remuneration Report, based on our audit conducted in accordance with Australian Auditing Standards. BDO Audit Pty Ltd Andrew Tickle Director Adelaide, 26 August 2026
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124 Shareholder Information The shareholder information set out below was applicable as at 24 August 2026. Distribution of equitable securities Analysis of number of equitable security holders by size of holding: Ordinary shares Perform ance rights Perform ance rights % of total % of total Number shares Number rights of holders issued of holders issued 1 to 1,000 361 0.03 - - 1,001 to 5,000 287 0.18 - - 5,001 to 10,000 157 0.30 - - 10,001 to 100,000 309 2.70 4 0.20 100,001 and over 115 96.79 13 99.80 1,229 100.00 17 100.00 Holding less than a marketable parcel 278 0.01 - -
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125 Shareholder Information Equity security holders Twenty largest quoted equity security holders The names of the twenty largest security holders of quoted equity securities are listed below: Ordinary shares % of total shares Number held issued Citicorp Nominees Pty Limited 170,468,641 41.39 HSBC Custody Nominees (Australia) Limited 55,902,157 13.57 BNP Paribas Noms Pty Ltd 35,970,088 8.73 Valdor Global DMCC 25,168,194 6.11 J P Morgan Nominees Australia Pty Ltd 16,848,832 4.09 BNP Paribas Nominees Pty Ltd (IB AU Noms RetailClient) 14,203,086 3.45 Netwealth Investments Limited (Wrap Services A/C) 8,667,517 2.10 BNP Paribas Nominees Pty Ltd (Agency Lending a/c) 6,076,696 1.48 HSBC Custody Nominees (Australia) Limited 5,295,253 1.29 Orpheo Investments Pty Ltd 4,770,833 1.16 First Samuel Limited ACN 086243567 4,742,775 1.15 Mr Kenneth Joseph Hall 4,000,000 0.97 HSBC Custody Nominees (Australia) Limited – A/C 2 3,517,500 0.85 Mr Dennison Edward Hambling 2,444,846 0.59 BNP Paribas Nominees Pty Ltd (Clearstream) 2,386,978 0.58 Dataline Holdings Pty Ltd 1,724,138 0.42 Linares Investments Pty Ltd 1,724,138 0.42 IOOF Investment Services Limited 1,384,279 0.34 Mr David Frederick Oakley 1,366,666 0.33 Bond Street Custodians Limited (Michbi – D80623 a/c) 1,194,158 0.29 367,856,775 89.31
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126 Shareholder Information Unquoted equity securities Substantial holders Substantial holders as advised to the Company are set out below: Voting rights The voting rights attached to ordinary shares are set out below: Ordinary shares On a show of hands every member present at a meeting in person or by proxy shall have one vote and upon a poll each share shall have one vote. There are no other classes of equity securities. Number Number of on issue holders Performance rights over ordinary shares 12,300,000 17 Ordinary shares % of total shares Number held issued Black Crane Asia Pacific Opportunities Fund 120,648,248 29.30 MA Financial Group Limited 49,694,897 12.07 Allan Gray Australia Pty Ltd 45,461,683 11.04 Hilve Holdings Limited 33,300,192 8.09 Valdor Global FZCO 25,437,332 6.18
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G E T I N T O U C H Dennison Hambling Managing Director • dhambling@theimg.com.au • +61 418 173 232 Shenin Singh Head of Business Intelligence • ssingh@theimg.com.au • +61 437 953 017 Click here to submit a question about our FY26 results or visit the IMG Investor Hub for further information and updates.