Earnings release
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28 October 2026 A SX ANNOUNCEMENT FY26 Q3 Activity Report and Appendix 4C Financial Highlights1 • Q3 FY26 revenue of $8.9m, up 23% vs pcp; up 6% on a constant currency basis2. • YTD FY26 revenue of $24.8m, up 19% vs pcp; up 11% on a constant currency basis. • Q3 FY26 Underlying EBITDA of $0.6m, in line with $0.6m in pcp. • YTD FY26 Underlying EBITDA3 of $1.9m, up vs $0.9m in pcp. • ARR of $36.8m, up 1% vs pcp. • Debt of $0.17m at 30 September 2026, down vs $0.25m on 30 June 2026. • Cash of $2.5m at 30 September 2026, up vs $2.0m on 30 June 2026. Operational Highlights • Agentic AI platform progressed from launch to production scale: the Intelligent Appointment Scheduling agent moved from the demonstration environment into live customer use, the AI image - suggestion agent for dynamic surveys was released to production, and a new Transcription Agent reached production readiness, extending the proprietary agent footprint into the reporting workflow. • Software NARR of $282,928 was written in Q3 FY26 (Q2 FY26: $654,000), across 13 new contracts. YTD software NARR reached $1.37m. • During Q3, $2.4m of estimated contracted but not yet billing software went live. This software will undergo a ramp towards estimates over the coming months. The remaining $2m contracted but not yet billing is being progressed. • Radiology Services (RIMAB) delivered year-to -date revenue to 30 September 2026 of $17.3m, up 23.7% vs pcp, and EBITDA of $1.8m, 241% of pcp. 1 All financial information for FY26 in this announcement is preliminary, unaudited financial information and may be subject to adjustment following audit. 2 Constant currency basis assumes Q2 FY26 results are converted at the average foreign exchange rate for Q3 FY25.This removes the impact of changes in currency rates and allows comparison of IMEXHS’s underlying operating performance 3 Underlying EBITDA excludes the impact of FX and share based payments. 4 Annualised Recurring Revenue (ARR) is the value of the monthly recurring contract revenue multiplied by twelve. Constant currency basis assumes the 30 Jun-26 ARR is converted at the 30 Jun-25 exchange rate.
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• Partner Programme: 45 partners across 13 LATAM countries; partner channel revenue of $1.24m year to date, up 20.3% vs pcp, despite the USD’s decline against the COP. • Mr Fabio Carrillo commenced as Chief Financial Officer on 1 August 2026, as previously announced. • IMEXHS Enterprise and IMEXHS Cloud installations worldwide: 578 at 30 September 2026. I MEXHS Limited (ASX: IME) (“IMEXHS” or “the Company”) today provides its quarterly cash flow and activities summary for the period ended 30 September 2026. IMEXHS is an innovative provider of cloud-based medical imaging software and radiology services across 18 countries. IMEXHS CEO Dr. German Arango commented, “Q3 FY26 was a quarter of two halves for IMEXHS. On product, it was our strongest quarter since the launch of the agentic platform. The scheduling agent we described in July as being configured for its first production client is now live, the im age-suggestion agent followed it into production, and a new Transcription Agent - which places dictated text directly into the report for the radiologist to review and sign - is ready for deployment. Portal+ is live with its first clients and the New Web Viewer has completed clinical validation. We now have proprietary AI agents operating across scheduling, acquisition, reading and reporting, which is the holistic workflow position we set out to build. “Commercially, software bookings were below plan. New annual recurring revenue of $283K compared with $654K in Q2, and software ARR was flat across the quarter as churn absorbed the growth from new contracts. Several partner-led closures expected in the quarter have moved into Q4, and converting those, together with the contracted software ARR that is yet to bill, is the immediate focus. “Radiology Services continued to perform ahead of plan. Year-to-date EBITDA to September is almost two and a half times the prior year on revenue growth of 23.7%, driven by pricing and a deliberate shift in mix toward higher-value modalities rather than volume. Gross margin eased through the quarter as the fastest -growing contract in the portfolio carries a lower margin, and managing that mix is a priority alongside collections. “In Colombia, the new government administration took office in August. We continue to manage the sector’s liquidity pressures through tightened credit controls and conservative working-capital assumptions.” Financial Summary • Q3 FY26 revenue of $8.9m, up 23% vs pcp; up 6% on a constant currency basis. • YTD FY26 revenue of $24.8m, up 19% vs pcp; up 11% on a constant currency basis. • In Q3 FY26, 60% of software revenue (and 73% of software ARR) was priced in hard currencies (USD, AUD, EUR), which translates to local currency at the spot rate (72% of Q3 FY25 software revenue and 70% of ARR). • YTD FY26 Underlying EBITDA of $1.9m, up vs $0.9m in pcp. • On 30 September 2026, IMEXHS held cash and cash equivalents of $2.5m vs $2.0m at 30 June 2026. • Q3 FY26 Underlying EBITDA of $0.6m, in line with $0.6m in pcp.
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Annualised Recurring Revenue ARR of $36.8m, up 1% vs pcp, with currency tailwinds offsetting reduced volumes from slow-paying customers as they catch up on past-due payments. ARR of $ 36.8m ($36.8m as at 30 June 2026) consisted of $25.1m from Radiology Services ($25.0m as at 30 June 2026) and $11.7m from Software ($11.8m as at 30 June 2026). Chart 1 shows ARR at 30 September 2026 that is currently billing ($34.8m, up 7.4% from $32.4m at 30 June 2026) as well as ARR that is yet to commence billing. The ‘not yet billing’ component fell to $2.0m (5.6% of ARR) from $4.4m (12.0%) at 30 June 2026 as contracts commenced billing during the quarter. Constant currency basis assumes that historic results are converted at the 30 September 2026 exchange rate. This removes the impact of changes in currency rates and allows comparison of IMEXHS’s underlying operating performance. Cashflow At 30 September 2026, IMEXHS held cash and cash equivalents of $2.5m vs $2.0m at 30 June 2026. Net cash received in operating activities was $1.0m in the quarter. Cash receipts of $9.2m were higher than in the prior quarter, as some larger customers paid June -due amounts in July; action continues in respect of slow payers. Cash used in investing activities was $0.3m for the quarter, including $0.2m of capitalised software. Cash used in financing activities was $0.1m for the quarter, reducing debt to $0.17m at 30 September 2026. Balance Sheet and Working Capital Cash at 30 September 2026 was $2.5m, $0.5m below September 2025 ($3.0m). Borrowings were reduced to $0.17m from $1.0m a year ago, leaving net cash of $2.4m (September 2025: $2.0m). Trade and other receivables were $14.5m, up from $9.0m at September 2025 (+61%). Of the $5.5m increase, approximately $1.6m (29%) reflects foreign -exchange translation, principally the 12.5% appreciation of the Colombian peso against the Australian dollar, which lifts the Australian-dollar value of peso balances.
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The remaining $3.9m (71%) is underlying growth at constant currency, driven mainly by higher trade receivables and accrued revenue in Colombia ($2.2m) and higher withholding tax credits ($1.2m). Current liabilities, which rose $2.8m to $10.0m (September 2025: $ 7.2m), funded part of the increase in receivables. Of this , $1.1m reflects foreign -exchange translation from the stronger peso and $ 1.7m is underlying, mainly higher trade and other payables ($0.8 m, largely expense accruals ), contract liabilities ($0.5m) and employee provisions ($0.2m), partly offset by the repayment of borrowings ($0.8m). The Q3 cash improvement therefore reflects timing as much as collections. The increase in Colombian trade and other receivables reflects slower payment by government -linked customers, as delayed government payments to health insurers (EPS) kept sector liquidity under pressure through the first half and the presidential election period, which concluded with a runoff in June 2026 . The new Government’s health-sector ‘shock plan’, launched on 22 September 2026, includes a targeted COP 10 trillion of additional funding for the system (approximately COP 0.5 trillion secured to date for the first phase), a one-off ADRES credit line for EPS at CPI + 0% with payments made directly to providers, and a review of inflation-linked (UPC) payments to reflect medical inflation. If fully implemented, these measures create an opportunity to accelerate collections, reduce receivables and release cash from working capital. Improved Radiology Services margins have helped IMEXHS absorb this working -capital build, with year -to- date Underlying EBITDA reaching $1.9m (pcp: $0.9m) and funding the debt reduction. Outlook and Guidance The Company reconfirms guidance provided at the 1H FY26 Results on 28 August 2026. Based on year-to-date performance and looking forward to our expectations for Q4, the Company expects to achieve the following for FY26: • Revenue in the range $31.4m to $33.7m - up 8% to 16% on the prior year; and • Underlying EBITDA in the range $2.4m to $2.7m - up 48% to 66% on the prior year. Sales Update Q3 FY26 software NARR of $282,928 was written during the quarter. Software NARR for the year- to-date is $1.37m. The changes made to sales force management and to the Company’s marketing engine over the first half continued to build the opportunity base, with the number of new qualified opportunities rising throughout the quarter and a redesigned corporate website la unched in September. Converting that opportunity base into repeatable, territory-balanced performance remains the principal commercial priority for Q4. IMEXHS Software Aquila+ continued to account for most of the new contract activity, and the Company expects all new software contracts to be deployed on the Aquila+ platform going forward. Software ARR stood at $11.74m at 30 September 2026. Software revenue for the quarter of $2.9m was the highest quarterly figure of FY26.
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Partners Programme The Partner Programme closed the quarter with 45 partners across 13 LATAM countries (47 at 30 June 2026). The reduction reflects two deliberate changes rather than commercial attrition. Partner channel revenue of $1.24m for the year -to-date is up 20.3% vs pcp, and year -to-date channel NARR of $830,000 is 24.5% ahead of the prior year. Two strategic partners in Mexico generated a material volume of new qualified opportunities during the quarter in a market the Company has not prev iously converted at scale, and converting these, together with the deferred closures, is the channel’s focus for Q4. Radiology Services Radiology Services (RIMAB) continued to perform ahead of plan. For the nine months to 30 September 2026, revenue of $17. 3m was 8.6% above budget and 23.7% above pcp, and EBITDA of $1.8m was 241% of pcp. Underlying EBITDA was in line with reported EBITDA, confirming the improvement is operational rather than the result of one-off adjustments. Revenue is growing considerably faster than study volume. Year-to-date volume is below the prior year, with the decline concentrated in lower- value modalities (plain radiography, mammography), while computed tomography, magnetic resonance and densitometry volumes grew. Ultrasound, magnetic resonance and computed tomography together generate more than 70% of divisional revenue. The margin expansion is being driven by operational efficiency and modality mix rather than throughput, consistent with the disciplined portfolio management described in prior quarters. Political Environment Risk Update - Colombia The new national government administration took office on 7 August 2026 following the June presidential runoff. Early signs of improved business sentiment across the healthcare sector noted in the prior quarter have yet to translate into improved payment behaviour; the underlying liquidity pressures built up over recent periods are expected to take time to fully unwind. In late September, the Government announced a health -sector ‘shock plan’ , with three main economic measures: a targeted COP 10 trillion of additional funding for the system, of which approximately COP 0.5 trillion has been secured from ADRES resources for the first three -month phase; a one-off ADRES credit line for health insure rs (EPS), with payments for validated pending medicines and procedures made directly to providers, at CPI + 0% with up to 12 months’ grace and a further 12 months to repay; and a review of inflation- linked (UPC) payments to reflect medical inflation. The credit lin e remains in draft, and its total amount has yet to be set. IMEXHS continues to enforce tightened credit controls, conservative pricing assumptions and prudent working-capital management to protect cash flow and margins as the political and regulatory environment evolves.
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Leadership Update As previously announced, Mr Fabio Carrillo commenced as Chief Financial Officer on 1 August 2026, following the departure of Ms Reena Minhas on 31 July 2026 after an orderly handover. Ms Kamille Dietrich of Automic Group commenced as Company Secretary on 27 July 2026. Product & Software Updates during Q3 FY26 Progress continued throughout the third quarter of FY26 across the IMEXHS Cloud and Enterprise portfolio, with the Q3 product roadmap closing at 95% completion and several new capabilities reaching completion across the New RIS System (Aquila+), the Patien t Portal, the Universal Viewer and the DICOM Gateway. Key deliverables included: • delivering AI -assisted tools for radiologists and administrative teams, including the Mentor AI Voice Recorder, the Transcription Agent and the image-suggestion agent for dynamic surveys; • releasing new clinical and operational modules in Aquila+, including RADS Classification, Electronic Consent Management, Radiation Dose Tracking and study-management enhancements; • launching Portal+ in production and completing the New Web Viewer’s validation ahead of its release; and • giving IMEXHS greater control over customer deployments through new Gateway administration capabilities. AI Agentic Platform The Company’s proprietary AI agents, embedded across Aquila+, progressed from launch toward production scale during the quarter. IMEXHS now has proprietary agents operating across scheduling, acquisition, reading and reporting - the full radiology workflow - rather than at a single point within it. Status at 30 September 2026: Intelligent Appointment Scheduling (Agent 1) — live in production. The AI -assisted Auto-Scheduling Module was released to production during the quarter, moving the scheduling agent from the demonstration environment into live customer use. WhatsApp notifications for Auto -Scheduling and the regular schedule were also released, delivering automated patient notifications throughout the scheduling process, enabled per client. Intelligent Auto-Distribution (Agent 3) and Study Non -Attendance Alerts (Agent 4) — live across the client base, as previously disclosed. AI-Powered Image Suggestion Agent for Dynamic Surveys — released to production. Hanging Protocol Agent — complete and embedded within the New Web Viewer, which is ready for production deployment. Annotation Suggestion Agent — development completed; embedded within the New Web Viewer. Transcription Agent (new) production-ready. A new AI -powered agent that automatically transcribes physician dictation and inserts the text directly into the report field within the reading workflow. Physicians need only review, validate and sign the report, reducing dependency on dedicated transcription personnel and shortening report turnaround. The agent is available in the demonstration environment and ready for production deployment. Intelligent Study Prioritisation (Agent 2) and RV Mentor (Agent 5).
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All agents are proprietary IMEXHS intellectual property, developed and owned by the Company. New RIS System (Aquila+ Teleradiology System) Mentor AI Voice Recorder. A new AI voice recorder, built fully in -house, was released to production. It helps radiologists dictate, apply voice commands and improve the quality and consistency of their reports. RADS Classification Module. A new module lets clients configure structured RADS classification systems and apply them to one or multiple studies, bringing consistent, structured classification into the clinical workflow. Electronic Consent Management Module. Clients can now configure their own consent forms and capture electronic signatures from different devices. Signed consents are generated as PDF documents and can be consulted directly from the study workflow, simplifying consent handling for clinical and administrative teams. Radiation Dose Tracking. A new capability in the Rooms Module automatically captures radiation dose data from biomedical device tags. The information is available when images are loaded and is displayed in the reading workflow and the report, supporting dose traceability for each study. Study Exclusion Management. Operational teams can now intentionally exclude specific studies from the reading queue when required by business rules or exceptional circumstances, providing greater flexibility in workflow management. Manual Study Resubmission to the Patient Portal. Authorised users can now manually resend one or several studies to the Patient Portal, giving operational teams a direct way to resend results whenever needed. Agenda-Based Patient Tracking Module. Released to production, this module lets clients monitor patient attendance against the schedule, helping operations teams follow the status of each appointment. Patient Data Synchronisation across RIS, PACS and Patient Portal. Patient demographic updates made in the RIS are now synchronised automatically with the PACS and the Patient Portal, improving data consistency across platforms and removing the need for manual updates. External RV Licence Configuration Module. A new module centralises the configuration and management of Nuance licences within the platform, simplifying their administration and reducing manual configuration processes. Multi-Schema Database Architecture. The migration of Aquila+ to a multi-schema database architecture was completed, closing a major platform -foundation initiative and positioning the platform for continued customer growth. Patient Portal Portal+ - launched in production. The new Portal+ was successfully launched, delivering significant improvements in platform security, reliability and stability. The first client was installed, with integration to Aquila+ and the Web Viewer completed, and Portal+ is now running for two clients, ready for progressive rollout to additional customers. The existing Patient Portal served approximately 643,000 unique patients in September 2026 across 1.4 million sessions.
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Listing Rule 4.7C3 In Item 6 of the Appendix 4C cash flow report for the quarter, cash payments to Related Parties of $38,000 comprise remuneration to executive directors. Authorised for release by the Board of IMEXHS Limited. ENDS For more information, please contact: Business Inquiries Kamille Dietrich, Company Secretary E: kamille.dietrich@automicgroup.com.au About IMEXHS IMEXHS Limited (ASX: IME) is an innovative provider of medical imaging software and radiology services in 18 countries including Colombia, the US and Australia. Founded in 2012, IMEXHS develops software as a service (SaaS) imaging solutions that includes a Picture Archiving and Communications System (PACS), a Radiology Information System (RIS), a Cardiology Information System (CIS) and an Anatomical Pathology Laboratory Information System (APLIS). Its solutions are completely cloud-based, vendor neutral and zero footprint, with no need for installed software. The IMEXHS products are designed to increase productivity and save money for end users, with a scalable platform that enhances patient outcomes. For more information, visit www.imexhs.com
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Consolidated statement of cash flows Current quarter Year to date (9 months) $A’000 $A’000 1 1.1 9,203 21,801 1.2 Payments for (a) research and development (228) (694) (b) product manufacturing and operating costs (3,621) (8,514) (c) advertising and marketing (36) (208) (d) leased assets (27) (81) (e) staff costs (3,255) (8,595) (f) administration and corporate costs (525) (1,671) 1.3 Dividends received -- 1.4 Interest received 45 1.5 Interest and other costs of finance paid (56) (153) 1.6 Income taxes paid / received (352) (958) 1.7 Government grants and tax incentives - - 1.8 Other - indirect taxes (141) (380) 1.9 Net cash from / (used in) operating activities 967 551 2 Cash flows from investing activities 2.1 Payments to acquire or for: (a) entities -- (b) businesses -- (c) property, plant and equipment (100) (107) (d) investments -- (e) intellectual property (239) (666) (f) other non-current assets -- 2.2 Proceeds from disposal of: -- (a) entities -- (b) businesses -- (c) property, plant and equipment -- (d) investments -- (e) intellectual property -- (f) other non-current assets -- 2.3 Cash flows from loans to other entities - - 2.4 Dividends received (see note 3) -- 2.5 Other (provide details if material) -- 2.6 Net cash from / (used in) investing activities (339) (773) 3 Cash flows from financing activities 3.1 -- 3.2 -- 3.3 Proceeds from exercise of options -- 3.4 -- 3.5 Proceeds from borrowings -7 4 3.6 Repayment of borrowings (98) (614) 3.7 Transaction costs related to loans and borrowings - - 3.8 Dividends paid -- 3.9 Other (provide details if material) (4) (2) 3.10 Net cash from / (used in) financing activities (102) (548) Transaction costs related to issues of equity securities or convertible debt securities Cash flows from operating activities Receipts from customers Proceeds from issues of equity securities (excluding convertible debt securities) Proceeds from issue of convertible debt securities Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B
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4 Net increase / (decrease) in cash and cash equivalents for the period 4.1 Cash and cash equivalents at beginning of period 1,985 3,299 4.2 728 312 4.3 (100) (535) 4.4 (102) (548) 4.5 34 16 Other (provide details if material) -- 4.6 Cash and cash equivalents at end of period 2,545 2,545 5 Reconciliation of cash and cash equivalents Current quarter Previous quarter $A’000 $A’000 5.1 Bank balances 2,545 1,985 5.2 Call deposits -- 5.3 Bank overdrafts -- 5.4 Other (provide details) -- 5.5 2,545 1,985 6 Payments to related parties of the entity and their associates Current quarter $A'000 6.1 38 6.2 - - Financing facilities $A’000 $A’000 7.1 Loan facilities 102 102 7.2 Credit standby arrangements -- 7.3 Other (revolving credit facility)* 376 65 7.4 Total financing facilities 478 168 7.5 Unused financing facilities available at quarter end 311 7.6 Lender Interest Rate Maturity Date Total facility Amount drawn Unsecured BANCO ITAU 14.21% Dec-26 27 27 BCO ITAU 15.04% Dec-26 54 54 BCO BOGOTA 14.21% Jul-27 21 21 JEEVES 28.8% Revolving (monthly) 360 58 BBVA 21.6% Revolving (monthly) 16 7 Weighted average interest rate of 15,8% on borrowings (not considering revolving). 8 $A’000 8.1 967 8.2 2,545 8.3 311 8.4 2,855 8.5 N/A 8.6 Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. Net cash from / (used in) operating activities (item 1.9 above) Net cash from / (used in) investing activities (item 2.6 above) Net cash from / (used in) financing activities (item 3.10 above) Effect of movement in exchange rates on cash held at the end of the quarter (as shown in the consolidated statement of cash flows) to If item 8.5 is less than 2 quarters, please provide answers to the following questions: 8.6 1. Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why Cash and cash equivalents at end of quarter (should equal item 4.6 above) Aggregate amount of payments to related parties and their associates included in Note: payments received from related parties and their associates included in item 1 Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments. Net cash from / (used in) operating activities (item 1.9) Cash and cash equivalents at quarter end (item 4.6) Unused finance facilities available at quarter end (item 7.5) Total available funding (item 8.2 + item 8.3) Estimated quarters of funding available (Item 8.4 divided by Item 8.1) Aggregate amount of payments to related parties and their associates included in 7 Total facility amount at quarter end Amount drawn at quarter end N/A Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or Estimated cash available for future operating activities 8.6 2. Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are N/A 8.6 3. Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis? N/A Note: where item 8.5 is less than 2 quarters, all of questions 8.6.1, 8.6.2 and 8.6.3 above must be answered Note: if the entity has reported positive net operating cash flows in item 1.9, answer item 8.5 as “N/A”. Otherwise, a figure for the estimated quarters of funding
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Compliance statement 1 2 Date: 28-Oct-2026 Authorised by: The Board of IMEXHS LIMITED Notes 1. 2. 3. 4. 5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations, the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively. This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A. This statement gives a true and fair view of the matters disclosed. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standard applies to this report. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [name of board committee – eg Audit and Risk Committee]”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”.