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Appendix 4E – Final Report Omni Bridgeway Limited ABN 45 067 298 088 Financial year ended 30 June 2026 Results for announcement to the market Current reporting period: 30 June 2026 Previous reporting period: 30 June 2025 Revenue and net profit Up/Down Percentage Change $'000 Revenue¹ Up 57% 106,468 Total income for the year Down (72%) 182,235 Profit for the year Down (89%) 45,929 Profit from ordinary activities after tax attributable to members Down (85%) 53,697 Net profit for the period attributable to members Down (85%) 53,697 Other comprehensive loss after tax for the period Down (238%) (48,745) Total comprehensive loss after tax for the period Down (101%) (2,816) 1. Revenue from ordinary activities includes IFRS revenue and excludes investment activities. The decrease in income and profit for the year ended 30 June 2026 reflects the impact of the Fund 9 secondary market transaction completed in the prior year, which generated a significant gain and strengthened the Company’s balance sheet through debt repayment. As the Fund 9 secondary market transaction was a one-off extraordinary item, no meaningful comparison can be made between current and prior financial year. Dividends The Directors have determined not to pay a final dividend for the year ended 30 June 2026. No dividends were paid in both current and prior financial year. Net tangible asset backing Consolidated 2026 2025 $ $ Net assets per ordinary share $2.96 $2.99 Book value of investments per ordinary share $2.25 $2.18 Net tangible assets per ordinary share¹ $2.08 $1.94 1. Net tangible assets excludes litigation investments - intangible assets, goodwill, litigation investments - claims portfolio, and contract costs. Additional Appendix 4E disclosure requirements can be found in the Directors' Report, Financial Statements and the Notes to the Financial Statements contained in the Omni Bridgeway Limited Annual Report for the year ended 30 June 2026. Audit Report This Appendix 4E (Final Report) is based on the audited financial statements for the year ended 30 June 2026, which are contained within the Omni Bridgeway Limited Annual Report, attached.
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Directors’ report Board of Directors Michael Green Non-Executive Director and Chairman Appointed April 2023 Committee membership Bachelor of Arts (Honours) Economics (University of Exeter, UK) Michael Green has over 20 years’ experience in the global investment industry. Mr Green was International CEO for both Morgan Stanley Investment Management and for American Century Investments where he was a member of their respective Executive Management Committees and was a board member for a number of local entities and global fund structures. From 2020 to 2023, Mr Green became a co-opted non-executive member of the Investment Oversight Committee for the London CIV, the local government pension fund asset pooling company. Directorships of other listed entities within the past three years • Chairman, Non-Executive Director, Independent Trustee and Head of the Investment Committee of Lloyd’s of London Pension Scheme (LON: LLOY) (appointed May 2007) Raymond van Hulst Managing Director and Chief Executive Officer Appointed April 2020 Masters of Business Administration (INSEAD) Masters in Management (University of Groningen, The Netherlands) Raymond van Hulst was appointed as Executive Director in 2020 and Managing Director and CEO in October 2023. Mr van Hulst is an industry veteran with nearly 25 years’ experience in all aspects of legal finance and legal assets management globally. He has established six institutionally backed funds for legal assets, including in joint venture with the International Finance Corporation/the World Bank for the Distressed Asset Recovery Program, and most recently in partnership with Ares Management the launch of the first continuation fund for legal assets globally. Mr. Van Hulst has been in various leadership roles within Omni Bridgeway since 2002 and has been involved in all aspects of the business. Mr van Hulst also led Omni Bridgeway’s acquisition of its German funding business, Roland ProzessFinanz in 2017, and the merger between IMF Bentham and Omni Bridgeway in 2019. Mr van Hulst was previously with ABN AMRO Bank Structured Finance based out of India and Europe. Directorships of other listed entities within the past three years Nil Karen Phin Non-Executive Director Appointed August 2017 Committee membership Bachelor of Arts and Bachelor of Laws (Honours) (University of Sydney, Australia) Fellow of the Australian Institute of Company Directors Karen Phin has over 25 years’ experience advising Australian listed companies on capital management, capital raisings and mergers and acquisitions. Ms Phin was a Managing Director and Head of Capital Advisory at Citigroup in Australia and New Zealand. Prior to joining Citigroup, she spent 12 months at ASIC as a Senior Specialist in the Corporations group and Ms Phin was a Managing Director at UBS AG, where she established and led the Capital Management Group for over 13 years. Directorships of other listed entities within the past three years • Non-Executive Director of ARB Corporation Limited (ASX: ARB) (appointed June 2019) • Non-Executive Director of Supply Network Limited (ASX:SNL) (appointed September 2025) • Member of the Takeovers Panel (since 2015) Christine Feldmanis Non-Executive Director Appointed November 2018 Committee membership Bachelor of Commerce (University of Wollongong, Australia) Master of Applied Finance (Macquarie University, Australia) Fellow of the Australian Institute of Company Directors Trustee Fellow of the Association of Superannuation Funds of Australia Senior Fellow of the Financial Services Institute of Australasia Certified Practicing Accountant Christine Feldmanis is a qualified accountant, investment, governance, and risk management specialist with over 30 years’ experience in the finance and investment industry. Ms Feldmanis was previously Managing Director of an ASX- listed boutique funds management incubator business and Chief Finance Officer of the NSW Treasury Corporation. Directorships of other listed entities within the past three years • Non-Executive Director of United Malt Limited (ASX: UMG) (appointed January 2023 and retired November 2023) • Non-Executive Director of Bell Financial Group Ltd (ASX: BFG) (appointed February 2020) 18 Omni Bridgeway
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Officers David Breeney Global Chief Financial Officer Appointed March 2025 Bachelor of Arts (Honours) Economics (University of the West of England) Fellow of the Institute of Chartered Accountants in England and Wales Member of Chartered Accountants Australia and New Zealand David Breeney brings a depth of experience and capability from over 12 years of experience from Challenger Limited, one of Australia's largest asset managers, where he held senior finance roles, resolving complex financial challenges, developing innovative solutions, and driving initiatives to enhance productivity and transform company culture. Mr Breeney joined Omni Bridgeway in 2023, most recently serving as Deputy CFO before taking on day-to- day leadership of the finance team as Global Chief Financial Officer. Jeremy Sambrook Global General Counsel and Company Secretary Appointed January 2016 Bachelor of Laws (University of Bristol, United Kingdom) Jeremy Sambrook is an experienced corporate lawyer with a broad in-house legal and private practice background, having practised in the UK, Hong Kong, the Channel Islands and Australia. Mr Sambrook was appointed as General Counsel and Company Secretary in 2016 and has built out the global legal, compliance and risk function, in line with the international growth of the business, to a team of legal and compliance specialists across APAC, North America and EMEA. Industry recognition Omni Bridgeway’s industry accolades continued to grow in FY26. We received the most recognition of any litigation funder by Chambers and Partners, a third- party market research report based solely on client, market, and peer feedback 160+ People 15 Countries 25 Years listed on ASX 40 Years Annual Report 2026 19
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Operating and financial review Principal activities The Group’s principal activities were the management of, and co-investment into funds or other investment structures that are focused on legal finance and the investment in legal assets globally. The Group invests in legal assets by entering into financing, purchase, monetisation, or risk sharing agreements with claimants, liquidators, banks, creditors, or law firms in relation to legal claims, awards, judgements and non-performing loans, either standalone or on a portfolio basis. The Group furthermore provides services in relation to the management of the legal assets it has invested in. Overlaying the investment in legal assets is the asset management aspect of the Group that: • provides services to external third party capital; • generates management, service and transaction fees; and • provides the opportunity for further return through carried interests depending on the fund or specific investment or portfolio performance. There were no significant changes to the principal activities of the Group during the year. Nature of operations The Group is an alternative asset manager specialising in legal assets which are typically uncorrelated to global capital markets. Its operations span the Americas, APAC, and EMEA regions, with investment interests further diversified across relevant areas of law and types of investment. The Group’s core operations involve: • Litigation and Arbitration Funding The Group provides capital to claimants and law firms to pursue legal actions, typically in high-value commercial disputes, class actions, and international arbitrations. Returns are contingent on successful resolution - whether by settlement, judgment or award. The Group retains direct or indirect investment interests in each investment via its equity stake in the respective fund or holds an entitlement to distributions on completed investments as per a fund’s waterfall. • Legal Enforcement and Asset Recovery The Group specialises in funding the legal enforcement and/or monetisation of legal claims, judgments and awards, particularly in complex cross-border scenarios. This includes distressed and non-performing assets, such as non-performing loans, judgments and awards in jurisdictions globally. These operations are supported by proprietary expertise and processes, in-house legal and investment management teams, and insurance structures that mitigate downside risk. • Investment Management The Group acts as the investment advisor to multiple funds and other investment structures with third-party capital. The Group is entitled to various associated fees including: – Transaction fees (e.g. Funds 4/5 Series II), for investment underwriting and monitoring; – Management fees (all funds except Fund 1 and Funds 2&3) for ongoing fund management services during the life of the fund; and – Carried interests for its residual profit share in Funds 6 and Funds 4/5 Series I and II. Depending on the agreement and the Fund structure, a fee may represent the Group’s profit share rather than compensation for the provision of investment management services. The successful completion of an investment and the timing of that completion is, in many respects, beyond the Group’s control and it may take several years between making an initial investment and finalising a completion. The waterfalls and fee structures in the various Funds in part determine the attribution of profits, net assets and distributions between the Group’s equity holders and non-controlling interests. Whether by direct investment or via a Fund structure, the objective is to successfully complete (e.g. by settlement, court judgment, arbitral award or enforcement) litigation investments. Directors’ report continued 20 Omni Bridgeway
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Operating and financial review (continued) The Group is also able to sell a partial or full interest in litigation investments into the secondary market rather than continuing to hold the entirety of the investment through to completion. Secondary sales improve the liquidity, mitigate completion and duration risk of these investments while accelerating realisations. Where the Group has purchased the award, claim or right to action, non-performing loan or distressed debt, the return will be the resolution sum less any legal or professional fees and any residual success fee component to the vendor. Otherwise, the resolution sum is shared with the funded claimant(s) in accordance with the contracted funding terms. The share to the Group will generally be the amount invested plus a return defined as either: • a multiple of the amount invested; or • a percentage of the realised amount; or • a combination of the above. In some instances the presiding court or tribunal of the underlying litigation may be involved to approve a settlement and that involvement can extend to consideration of the litigation funding terms. Generally, the multiple or percentage return to the Group increases as the duration of an investment extends. If the underlying litigation, arbitration, recovery or enforcement is unsuccessful the Group generally does not generate any financial return. In certain jurisdictions, the investment terms may require the Group to pay an amount of adverse costs upon an adverse legal outcome. In certain circumstances, the Group can obtain insurance to protect any deployed capital, commission and adverse costs exposure. Employees At 30 June 2026, the Group employed 156 permanent staff (2025: 167), as well as 9 consultants (2025: 4). Operating results for the financial year The Group made a profit after tax (before NCI) for the year of $45.9 million (2025: $416.8 million) and a profit attributed to equity holders of $53.7 million (2025: $349.8 million). The FY26 results reflects a more normalised earnings profile for the Group, following the significant one-off gains recognised in FY25 from the Fund 9 transaction. Total cash investment proceeds of $350.5 million1 from full and partial investment completions reflected a 49% increase over FY25, excluding secondary sales, and a record high for the Group. The Group’s geographic and asset diversification assists in mitigating the risk of any increased competition or regulatory intervention arising in any one region. New commitments are the investment into future income streams and enable the Group to achieve economies of scale to diversify risk and provide superior risk adjusted returns in this asset class. $564.4 million in fair value was added to the portfolio during the year, an increase of $38.5 million on FY25. In the period, $72.5 million of sidecar capital originated and managed by OBL was committed, on which OBL will be entitled to separately agreed management fees and Company carried interests. Cost reduction during the year was ahead of target, reflecting the Group’s continued focus on cost discipline and operational efficiency. Employee expenses decreased by 16% compared to the prior year, reflecting a reduction in headcount to 156 from 167 at 30 June 2025 and one-off cash bonuses paid in the prior year. Corporate overheads also reduced, supported by continued cost management and the non-recurrence of one-off costs associated with the Fund 9 transaction in FY25. Excerpts from Consolidated Statement of Comprehensive Income for the year ended 30 June 2026 2026 2025 Change $'000 $'000 % Gross proceeds and investment revenue¹ 105,613 423,429 (75%) Costs of derecognition or disposal of litigation investments (15,047) (105,089) (86%) Net gain on financial instruments at FVTPL 61,920 279,473 (78%) Other revenue and income 29,749 53,268 (44%) Total income 182,235 651,081 (72%) Other expenses (134,064) (155,561) (14%) Tax (2,242) (78,698) (97%) Profit after tax 45,929 416,822 (89%) 1. Gross proceeds and investment revenue is calculated as the sum of proceeds on derecognition of litigation investments – intangible assets, proceeds on derecognition of litigation investments – purchased claims, revenue from litigation investments – claims portfolio and gross proceeds from litigation investment in associates for the consolidated group. It is categorised as non-IFRS information prepared in accordance with ASIC Regulatory Guidance 230 – Disclosing non-IFRS financial information, issued in December 2011. If the proceeds attributable to external investors ($244.9 million) were included, the total would be $350.5 million. Refer to Glossary for more detail on non-IFRS disclosures. Annual Report 2026 21
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Operating and financial review (continued) Consolidated Statement of Financial Position The Group's Statement of Financial Position reflects its post-Fund 9 structure, following the deconsolidation of Funds 2&3 and Fund 4 Series I&II in the prior year. Accordingly, the underlying assets and liabilities of those funds are no longer consolidated, with the Group’s retained interests recognised at fair value. The Group has maintained a strong capital position following the repayment of its corporate debt in the prior year. Given the nature of the Group’s business and the composition of its asset base, the Statement of Financial Position is presented on an unclassified basis, with assets and liabilities not separately presented as current and non-current. Relevant maturity information is included in the notes to the financial statements. Litigation investments At year end, the carrying value of litigation investments was $652.0 million (2025: $628.1 million), with the Group’s interests in more than 300 active litigation investments. At 30 June 2026, a majority of the Group’s interests in litigation investments are measured at fair value through profit or loss (FVTPL). The remaining investments are carried at cost. There is typically a lag between investment commitment and capital deployment. Working capital 2026 2025 Change $’000 $’000 % Current assets 224,413 269,025 (17%) Current liabilities 131,879 157,203 (16%) Net working capital 92,534 111,822 (17%) Working capital ratio 1.7:1 1.7:1 –% For the purposes of this working capital analysis, current assets and current liabilities comprise the following balances, representing amounts expected to be realised or settled within twelve months of the reporting date: Current assets: cash and cash equivalents (Note 18); trade and other receivables (Note 22); and other current assets. Current liabilities: trade and other payables (Note 24); provisions (Note 25); lease liabilities (Note 26); financial liabilities - warrants (Note 31) and other current liabilities. Profile of interest-bearing debt The profile of the Group’s interest-bearing debt is summarised in the table below. 2026 2025 Change $’000 $’000 % Borrowings 35,395 19,500 82% Leases 9,891 13,031 (24%) Total interest-bearing debt 45,286 32,531 39% Debt The borrowings included in the Consolidated Statement of Financial Position relate to the Fund 8 facility. This facility is non-recourse to the Group, with recourse limited to insurance and the investment assets of Fund 8, and the Group’s capped standby equity commitment. As at 30 June 2026, $38.2 million drawn down under the Fund 8 facility is classified as borrowings. Warrants The Group has issued share warrants in the Fund 9 transaction which are convertible into ordinary shares if triggered. The warrants issued are equivalent to $35 million, with a strike/exercise price equal to the 30-day Volume Weighted Average Price (‘VWAP’) as of the date of signing the term sheet. The warrants are able to be exercised at any time after the second anniversary of the transaction date, but before the fifth anniversary. Warrants issued in the Fund 9 transaction are classified as a liability under IFRS. The Group expects the liability will be extinguished via equity settlement. Directors’ report continued 22 Omni Bridgeway
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Operating and financial review (continued) Consolidated Statement of Cash Flows The Consolidated Statement of Cash Flows illustrates that there was a decrease in cash and cash equivalents for the year ended 30 June 2026 of $21.7 million (2025: increase of $44.4 million). In relation to the movement in cash: • Operating activities: ($18.3) million net cash outflows (2025: net cash inflows $17.1 million) • Investing activities: $8.0 million net cash inflows (2025: $284.1 million) Across both operating and investing activities per IFRS classifications, the aggregate cash flows include: • Proceeds from litigation investments: $138.0 million • Management fee proceeds: $28.8 million • Payments for litigation investments: $80.0 million Financing activities $(0.3) million net cash outflows (2025: net cash outflows $273.7 million) include: • Payment of borrowing cost: ($1.1) million • Repayment of debt: $(1.9) million • Borrowing drawdown: $19.0 million • Lease payment: ($5.2) million • Distributions to NCI: ($11.2) million Investment activity FY26 overview Our business continued to deliver strong investment activity during the year, with record levels of new investment commitments and completions, supported by strong completion metrics and continued growth in the investment pipeline. The Group achieved or exceeded targets for fee income, cost coverage and opex management, while capital formation continued to progress in support of our strategy to scale investment activity through third-party capital while retaining exposure to portfolio upside. Investment activity highlights: • Strong completions, with 80 full and partial investment completions in FY26 delivering an overall multiple-on-invested-capital (MOIC) of 2.3x and a combined fair value conversion ratio of 105%. • Total cash investment proceeds of $350.5 million in FY26, including $47.5 million in OBL-only investment proceeds, excluding management fees and carried interest. This is a 49% increase over FY25, excluding secondary sales, and a record high for the Group. • Management fees of $35.4 million in FY26, meeting the target of $35 million. • Cash carried interest of $6.6 million in FY26, from funds with American waterfalls. • FY26 consolidated OBL-only cash opex of $67.1 million, materially below the budget of $80 million. • $241.8 million in total deployments in FY26, including $28.3 million OBL-only. • OBL-only cash and receivables of $124.5 million at 30 June 2026; movement in line with expectations. • New conditional and unconditional commitments reached a record $712.2 million across 43 new investments, with $564.4 million in new fair value added ($610.6 million on a like for like basis). • Pipeline remains strong and elevated, with 43 agreed exclusive term sheets, representing an estimated $407.8 million in new commitments if contracted, supporting continued momentum into 1Q27 and beyond. • Continued good momentum on capital formation. Target capital raise of US$1 billion achieved for funds 4/5 Series II post the conclusion of FY26. This includes subscriptions for over US$300m on substantially agreed terms pending finalisation and completion of legal documentation. $72.5 million in fee-paying sidecar capital raised during FY26, with ~$175 million further sidecar capital in diligence. Annual Report 2026 23
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Investment activity (continued) Non-IFRS reconciliation to Consolidated Statement of Comprehensive Income 2026 2025 A$ million A$ million Consolidated Group Litigation investments proceeds 350.5 235.5 Proceeds from secondary market transactions – 294.7 Management fees 35.4 30.3 Interest revenue and other 2.4 33.2 Total gross revenue 388.3 593.7 Less third party interest (244.9) (106.8) Total revenue 143.4 486.9 Investments derecognised (15.0) (119.2) Fair value adjustments of financials assets and liabilities 61.9 293.6 Management fee - non statutory cash income (8.1) (9.9) Total income (reflecting Consolidated Group) 182.2 651.4 Litigation cost (47.8) (58.5) Platform expenses (72.6) (85.9) Other (13.6) (11.5) Profit before tax (reflecting Consolidated Group) 48.2 495.5 Income tax expense (2.3) (78.7) Profit after tax (reflecting Consolidated Group) 45.9 416.8 Directors’ report continued 24 Omni Bridgeway
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Shareholders Dividends The Company considers its capital management options in light of the cash position and performance of the Group at the time as well as the likely demand for cash over the ensuing 12-month period. In determining the appropriate mechanism to deliver returns to shareholders, the Board will consider both dividends and share buy-backs. Relevant considerations include the source and nature of income or surplus capital, the prevailing share price relative to the intrinsic value and the franking credit balance. Based on the FY26 profit result and expected capital requirements, the Directors have not declared an interim or final dividend for the year (2025: nil). This decision is consistent with the Company’s stated capital allocation policy, and reflects a prudent approach to capital management and supports the Company’s strategic priorities. Shareholder returns The following summary of operating results reflects the Group’s performance for the year ended 30 June 2026: 2026 2025 Basic profit per share (cents per share) 18.58 123.15 Diluted profit per share (cents per share) 18.46 122.57 Return on assets (NPAT/average assets) 4.0 % 34.4 % Return on equity (NPAT/average equity) 5.3 % 50.3 % Net debt/equity ratio %1 N/a N/a 1. As cash and short term deposits are greater than total debt, net debt (cash and short term deposits less total debt) is positive as at 30 June 2026. Shares issued during the year On 4 November 2025, the Company issued 799,259 shares relating to the FY23 LTIP vesting. On 7 April 2026, the Company issued 410,221 shares relating to the employee equity incentive plan. Share options – unissued shares As at 30 June 2026 there were 8,604,441 share performance rights on issue (2025: 11,846,644). Risk management Risk management framework Omni Bridgeway’s risk management framework is overseen by the Board and includes our Risk Policy, Risk Strategy and Risk Appetite Statement setting out the arrangements for identification, assessment, monitoring, management and reporting of risks. Our Risk Policy describes our approach to risk management and, as a key corporate governance policy, is available on the OBL website. The Policy is supported by our Risk Appetite Statement, set by the Board and aligned with our Business Strategy and Risk Strategy, which details the process and procedures OBL undertakes within the risk management framework. Our Audit and Risk Committee receives regular and frequent reporting on risks measured against our risk appetite to ensure that we maintain our robust processes and systems for management of our identified current and anticipated risks. The Board receives additional reporting on risk topics across the Group. In FY26, our risk management focus continued to evolve in response to new and emerging risks whilst remaining focused on the quality of our investment management processes. The below ‘Key risks and responses’ table sets out some of our material risks and risk treatment responses. Annual Report 2026 25
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Key risks and responses Risk Description Risk response Litigation Investing in early stage legal proceedings is inherently uncertain with the potential for adverse developments not anticipated at the time of investment which can lead to a complete loss of invested capital. Extensive investment underwriting and management policies and procedures built on 40 years experience, including utilisation of an investment committee with deep experience. Plus investment structuring enabling reassessment at key capital deployment junctures. Investment duration Investment duration in legal assets is uncertain and not within the control of the funder. Duration expansion can adversely impact returns and create earnings volatility. Pricing structures that protect against extended duration, portfolio diversification and use of the secondary market all coupled with active investment management. Quantum The amount ultimately awarded in a successful legal proceeding, or agreed as part of a settlement, may be lower than anticipated. Our investment professionals draw on specialist quantum expertise and ongoing case monitoring to refine our assessment of likely recoveries throughout the life of an investment. Budget The actual costs required to bring an investment to completion are uncertain and may exceed the budget estimated at the time of investment, in part due to the same factors that drive duration risk. Pricing structures, risk sharing arrangements with law firms, budget monitoring discipline. Credit and collection The financial capacity of counterparties, including defendants and other parties from whom amounts are recoverable, may deteriorate over the life of an investment. Counterparties may also fail to honour a judgment or settlement voluntarily. Payment capacity is a key area of diligence in the underwriting phase and on-going assessment throughout the life of the investment, together with review of financial capacity of the funded counterparty. Adverse cost Loss of certain investments may result in a loss of the capital deployed to the claimant counterparty’s legal costs and also payment of the successful defendant’s legal costs. Use of adverse cost insurance, underwriting discipline and investment staging. Valuation The fair value of our investment portfolio may be adversely impacted by biases in the assumptions applied. Utilising our deep historical data set, together with valuation committee oversight and consistent application of our valuation policy and procedures. Concentration Adverse outcomes in a small number of large investment exposures could disproportionately affect our overall investment returns. This risk is heightened where investments share common characteristics. Portfolio diversification and disciplined portfolio construction through internal exposure limits by matter, case type, counterparty and jurisdiction. Country Political, judicial and regulatory developments in the jurisdictions in which we invest may adversely affect the independence of the judiciary, the enforceability of judgments, or the broader legal protections available to claimants. Geographic diversification across multiple jurisdictions and disciplined underwriting, including assessment of the legal and political environment of a given jurisdiction. Utilisation of local market expertise to monitor developments. Currency Differences may arise between the currency in which capital is deployed, the currency of entitlement, the fund's reporting currency, and the currency in which returns are ultimately realised. Movements in exchange rates between these currencies over the life of an investment may lead to adverse investment outcomes. Geographic diversification, underwriting discipline, portfolio structuring and the use of natural hedging. Regulatory, compliance and conduct As a regulated business a material failure in compliance may be highly damaging to the business. In addition, adverse regulatory developments for investing in legal assets may reduce the pool of investment opportunities available to us. The Group maintains an effective compliance risk management framework and actively builds a diversified portfolio to limit the impact of adverse regulatory developments in any single jurisdiction. Cybersecurity A major systems and/or data breach may have material adverse consequences for the business and its reputation. As the business holds a high level of sensitive case material underlying its investments, a data breach could result in the loss of privilege in such material and a breach of confidentiality obligations. Our cybersecurity risk management framework is supported by our cybersecurity, electronic communications, privacy, data breach management, and other cyber related policies which set out requirements for ensuring the security of confidential and personal information maintained in our systems. Refer to the Corporate Governance Statement for further details. People risk Our business depends on our ability to attract, retain and develop experienced investment professionals in a specialised and competitive global market. The loss of key personnel, could adversely affect broader company development. Long term incentive structures, succession planning and a strong focus on culture and career development. We continue to invest in the recruitment, training and retention of our investment professionals to ensure the depth and continuity of our talent base. Other In addition to the specific risks identified above, the Group may be affected by risks that are not currently known, are not reasonably foreseeable, or whose potential impact cannot be fully assessed at this time. The Board and management maintain a broader enterprise risk management framework, including regular horizon scanning and scenario analysis, to help identify and respond to emerging risks as they arise. Directors’ report continued 26 Omni Bridgeway
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Significant events after reporting date No circumstances have arisen since 30 June 2026 that have significantly affected, or may significantly affect the Consolidated Entity’s operations, the results of those operations, or the consolidated entities state of affairs in the future financial years. Likely developments in the Company’s operations The Group does not provide forecasts considering the difficulty in estimating the timing of the finalisation of its investments but provides an indication of its views of the future value of completions and estimated new commitments in the quarterly portfolio reports. The Group expects demand for its funding to continue in each of its markets. Litigation funding is considered non-cyclical or uncorrelated to underlying economic conditions. Environmental regulation and performance The Consolidated Entity’s operations are not presently subject to significant environmental regulation under the laws of the Commonwealth and the States of Australia. Indemnification and insurance of directors and officers During the financial year, the Company has paid premiums in respect of an insurance contract insuring all the directors and officers of the Group against any legal costs incurred in defending proceedings for conduct other than, amongst others: (a) willful breach of duty; or (b) contravention of sections 182 or 183 of the Corporations Act 2001, as may be permitted by section 199B of the Corporations Act 2001. The total amount of premiums paid under the insurance contract referred to above was $1.6 million during the current financial year (2025: $2.0 million). Indemnification of auditors To the extent permitted by law, the Company has agreed to indemnify its auditors, as part of the terms of its audit engagement against claims by third parties arising from the audit (for an unspecified amount). No payment has been made to indemnify BDO during or since the financial year. Directors’ meetings The number of meetings of directors held during the period under review, and the number of meetings attended by each director, were as follows: Board Meetings Audit and Risk Committee Nomination and Remuneration Committee Corporate Governance Committee Total number of meetings held: 10 4 6 4 Meetings attended: M Green 10 4 6 4 R van Hulst 10 4* 6* 4* K Phin 10 4 6 4 C Feldmanis 10 4 6 4 * Attended by invitation Raymond van Hulst Managing Director and Chief Executive Officer Sydney, 26 August 2026 Annual Report 2026 27
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Letter from the Chair of the Nomination and Remuneration Committee Dear Shareholder, On behalf of the Board of Directors, I am pleased to present Omni Bridgeway’s Remuneration Report for the financial year ended 30 June 2026. FY26 was a pivotal year both for the Company and for the way we reward our people. Following the strategic repositioning undertaken in FY25, Omni Bridgeway continued to transition into a global, capital-light investment management platform for legal assets, executing against our key strategic priorities of improving cost coverage, further expanding and diversifying the legal assets portfolio, maintaining strong investment performance, and broadening third-party capital sources. In parallel, we replaced the Company’s historical short and long-term incentive plans with a carried interest plan modelled on the alternative asset management industry in which Omni Bridgeway now competes for both capital and talent. Rationale for the change in remuneration framework The Board’s conviction is that remuneration and incentive programs must support disciplined long-term value creation and realisation rather than short-term effort or unsustainable growth. Our business is characterised by multi-year investment cycles, uncertain timing of realisations, and the need for highly specialised teams capable of originating, underwriting, managing and realising complex legal assets across multiple jurisdictions. The Board believes that reward should follow realised cash: participants should benefit alongside fund investors and shareholders when investments complete successfully, generating investment returns for fund investors and co-investment returns and fund carried interest for the Company. We also recognise that Omni Bridgeway competes for capital and investment talent with the asset management sector and carried interest is the standard and expected form of long-term alignment in that market. The FY26 remuneration framework During FY26, Omni Bridgeway introduced its Team Carried Interest Plan and finalised proposals to introduce its Executive Plan from FY27, subject to shareholder approval at the forthcoming AGM. Together these plans replace the prior short and long- term incentive plans for participating staff. Remuneration for KMP, senior executives, investment professionals and other senior staff comprises a fixed component and an “at risk” component. Fixed remuneration is market based, benchmarked primarily against the asset management industry in each of our various operating regions. The at-risk component now comprises three elements, set out below. 1. Team Carried Interest Plan. This is the principal at-risk element for investment professionals and senior staff. Participants hold Carried Interest Points (“CIP”) entitling them to a share (capped at 25%) of the carried interest the Company actually receives from its funds, with the remaining 75% retained for the Company and its shareholders. Carried interest arises only on cumulative proceeds above the fund’s return hurdle. Unvested CIP attach to specific investments and are granted at initial commitment proportionate to the fair value of the investment, and convert to vested CIP only on realisation of the investment, and then in proportion to the realised fair value achieved measured against the initial fair value. Distributions are made on vested points only, with any carried interest on unvested points retained until and subject to vesting. The Team Carried Interest Plan (“Plan”) rewards genuine long-term value creation and realisation. Because participant entitlements track the carried interest the Company itself receives, they follow the Company’s co- investment performance and its own carry entitlement. This creates a clear connection between employee reward, investment performance, fund investor outcomes and shareholder value, and aligns Omni Bridgeway’s remuneration structure with the alternative asset management industry. The Plan is also structured so that participants are rewarded for the performance of the portfolio and of the firm, and not merely for their own matters. CIP are allocated as a mix across personal, specific portfolio and companywide portfolio investments, and any participant’s entitlement depends on outcomes wider than the investments they manage themselves. This is aimed at aligning the pursuit of individual, team and Company goals and promoting global collaboration. Unlike many examples in the asset management industry, the Plan is deliberately broad based. All investment roles and senior non-investment roles participate. The Plan is also relatively flat, with limited divergence in eligibility for the most senior participants and the most junior participants. The Committee will assess annual allocations of the newly generated unvested points with reference to a combination of eligibility and personal KPI scores. Seniority only sets the starting point for an allocation, and performance determines the outcome, with high performing junior participants able to exceed senior participants in annual allocation. The Plan’s eligibility framework and every individual allocation are recommended by management and approved by the Committee annually. Up to a quarter of the points created each year are withheld in an unallocated reserve, from which the Committee may make allocations to, for example, new employees. As participants and CIP share in a fixed proportion of carried interest actually received, the cost of the Plan cannot exceed that proportion and cannot dilute the share of carried interest retained for shareholders. Consistent with good governance practices, the Plan rules give the Board express powers to prevent inappropriate reward. Three mechanisms operate, and they are distinct. The first is automatic and requires no exercise of discretion: unvested points convert on realisation only in proportion to the value actually realised against the underwritten fair value, so that a matter realised below carrying value converts fewer points than were allocated to it and the shortfall expires. The second addresses the risk that carried interest paid early in a fund’s life must later be returned to that fund because of subsequent underperformance. The Committee sets a retention percentage annually for each fund, close to full retention where a fund’s outcome remains uncertain and reducing as performance is established, and the retained amounts are held in escrow rather than distributed. The Company is therefore able to meet a fund-level clawback obligation without having to pursue recovery from individuals. Directors’ report continued 28 Omni Bridgeway
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Letter from the Chair of the Nomination and Remuneration Committee (continued) The third is the Board’s power to determine that a participant has engaged in a malus event which, among other things, includes deliberately engaging in fraudulent or dishonest conduct, or in conduct resulting in material reputational damage to the Group. In malus circumstances, the Board may cancel both vested and unvested points and may demand repayment of amounts already received in respect of vested points, net of tax. A participant treated as a bad leaver forfeits all points, vested and unvested; a good leaver retains only the amounts already held in escrow for their vested points at departure, and only for so long as they continue to observe the post-departure conditions of the Plan. 2. Executive Plan. This is a performance rights plan with a narrow and senior scope being the global leadership team, together with a small number of individuals identified for long-term succession. It is intended to deliver the enterprise-wide accountability and direct equity alignment appropriate to those responsible for the Company as a whole. At the start of the first plan year, the performance rights allocated to each executive are conditional and the proportion of them that will be granted as unvested rights is determined at the end of the first year, based on the executive’s achievement of their personal KPIs. The vesting of these rights is then subject to three Company performance metrics measured over the 3 year period from the start of the first plan year as follows: a) 50% of the total award is determined by OBL’s total shareholder return relative to the constituents of the S&P/ASX 300 Diversified Financials index, with no vesting below the index median, 50% vesting at the median, full vesting at or above the 75th percentile and straight-line vesting in between; b) 25% of the total award is determined by OBL’s return on equity measured as a three-year average, with no vesting below 12.5%, 50% vesting at 12.5%, full vesting at or above 17.5% and straight-line vesting in between; and c) 25% of the total award is determined by OBL’s growth in assets under management also measured as a three- year average, with no vesting below 5%, full vesting at or above 12.5% and straight-line vesting in between. Each measure is tested once, at the end of the three-year period and rights that do not vest lapse. Unvested rights lapse on cessation of employment, subject to good leaver treatment, and are subject to malus and clawback on the same basis as the Team Carried Interest Plan. As vesting conditions (b) and (c) above are additional to the performance conditions approved by shareholders to date, the Company will seek shareholder approval for the Executive Plan at the AGM in October 2026. Any participation by the Managing Director will be the subject of a separate resolution, as required by ASX Listing Rule 10.14. 3. Discretionary cash bonus. A discretionary bonus of up to 20% of gross salary remains available to staff in non- investment roles who do not participate in the Team Carried Interest Plan or the Executive Plan. Awards depend on annual personal performance and on the Company’s performance for the year. FY26 remuneration outcomes The Committee remains mindful of the importance of restraint and alignment in setting fixed remuneration. In FY26 the Board left the fixed remuneration of the Managing Director & Chief Executive Officer, and the Chief Financial Officer unchanged. The fixed remuneration of the Global General Counsel & Company Secretary was increased by 3.16%, in line with inflation. Non-executive director fees remain separate from executive remuneration and contain no variable or at-risk component. Non- executive directors do not participate in the Team Carried Interest Plan or the Executive Plan. There was no change to non- executive director base fees for FY26, and aggregate fees remain within the shareholder-approved fee pool of A$950k. The Board continues to consider non-executive director fees in light of the responsibilities of directors, the governance requirements of a listed global alternative asset manager, and market relativities, while remaining conscious of shareholder expectations. In FY26 the Company allocated CIP to 84 participants. No cash distributions were made to participants in FY26. The carried interest allocations and any distributions or retentions in relation to FY26 will be assessed in early FY27. No performance rights were granted under the Executive Plan in FY26. Looking ahead The Board believes that the framework now in place is well aligned with Omni Bridgeway’s strategic direction. It supports the Company as a global investment management platform, reinforces accountability for shareholder and investor outcomes, and provides an appropriate mechanism to reward the creation and realisation of long-term value for both shareholders and fund investors. In FY27 the Committee’s priorities will be to complete the approval and implementation of the Executive Plan, report transparently on Plan outcomes as realisations occur, and keep the framework under review as the Company’s third-party capital base grows and its funds mature. On behalf of the Board, I thank shareholders for their continued engagement and feedback. The Committee remains focused on ensuring that Omni Bridgeway’s remuneration framework is transparent, performance-linked, competitive and aligned with long-term shareholder and other stakeholder interests. Yours faithfully, Karen Phin Chair of the Nomination and Remuneration Committee Annual Report 2026 29
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Remuneration report (audited) This Remuneration Report outlines the director and Key Management Personnel (KMP) remuneration arrangements of the Group in accordance with the requirements of the Corporations Act 2001 (Cth) and its Regulations. For the purposes of this report, KMP of the Group are defined as those persons having authority and responsibility for planning, directing and controlling the major activities of the Group, directly or indirectly, including any director (whether executive or otherwise) of Omni Bridgeway Limited (OBL). Key management personnel Details of OBL’s KMP for the 2026 financial year are: (i) Directors Michael Green Non-Executive Director and Chairman Raymond van Hulst Chief Executive Officer and Managing Director Karen Phin Non-Executive Director Christine Feldmanis Non-Executive Director (ii) Executives Jeremy Sambrook Global General Counsel and Company Secretary David Breeney Global Chief Financial Officer There were no changes to OBL’s KMP after the reporting date and before the financial report was authorised for issue. Nomination and Remuneration Committee The Nomination and Remuneration Committee determines and reviews the remuneration arrangements for the Board and KMP. This involves an assessment of the appropriateness of the nature and amount of the emoluments on a periodic basis by reference to relevant employment market conditions. The Company remains on track with the rollout of its team carried interest program for investment management and other senior staff, as previously communicated to the shareholders. The program is designed to strengthen alignment of the team with the Group’s fund management model and overall investor base. Based on shareholder feedback, KMP executives’ variable remuneration remains entirely aligned with shareholder returns. Remuneration philosophy The performance of the Group is heavily dependent upon the quality of its directors, KMP and staff generally. Accordingly, the Company must attract, incentivise, and retain high-calibre directors and personnel. The Group embodies the following principles in its remuneration framework: • determination of appropriate market rates for the fixed remuneration component, taking into account the specific context of the markets the Group operates in; and • establishment of appropriate performance hurdles for the variable at-risk remuneration component. Remuneration structure Non-executive director and executive & KMP remuneration structures are separate and distinct. Non-executive director remuneration structure All non-executive directors enter into service agreements with the Company in the form of a letter of appointment. The letter summarises the Board policies and terms, including remuneration, relevant to the office of Director. Fees and payments to non-executive directors reflect the demands which are made on, and the responsibilities of, the non-executive directors. Non-executive directors’ fees and payments totalled $414,432 (including superannuation), as disclosed in the following tables in this report. At the 2022 Annual General Meeting, shareholders approved payments up to $950,000 per annum to non-executive directors. There are no retirement allowances for non-executive directors, nor do they have a variable at-risk remuneration component. Non-executive directors may elect to have a portion of their remuneration paid into their personal superannuation plans. Directors’ report continued 30 Omni Bridgeway
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Remuneration report (audited) (continued) Executive & KMP remuneration structures Objective The Group aims to reward executives, KMP and other staff with a level and mix of compensation elements commensurate with their position and responsibilities, within the following framework: • reward for Group and individual performance against targets set to appropriate benchmarks; • align the interests with shareholders and fund investors; • link rewards with the internal strategic goals of the Group; and • ensure total compensation is competitive for our industry. Structure All executives and KMP have employment contracts. Details of these contracts are provided below in the following Executive & KMP Employment Contracts table. Remuneration consists of two key elements: (i) fixed component, consisting of base salary, retirement contributions, and benefits; and (ii) variable at-risk component, which is the long-term incentive plan (LTIP) and, for some executives and KMP, the Carried Interest Plan. Fixed remuneration component The levels of fixed remuneration are reflective of employment, tax and cost-of living conditions in respective locations and consider skills, experience, and responsibility. Reference is to the market within which the Company competes for talent. Fixed compensation is reviewed annually by the Nomination and Remuneration Committee. The process consists of a review of Group and individual performance, relevant comparative compensation in the market and internally and, where appropriate, external advice on policies and practices. Variable at-risk remuneration component Objective The objective of the variable compensation component is to reward executives in a manner aligned with the shareholder and fund investor outcomes. The total potential incentive available is set at a level to provide sufficient incentivisation to achieve the operational and strategic targets which are anticipated to drive shareholder returns. The Company’s variable at-risk remuneration framework comprises the following long-term incentivisation plans: (a) a share performance rights plan for key management personnel currently tested against relative total shareholder return outcomes; and (b) a carried interest plan granting participants an opportunity to participate in a portion of the Group’s carried interest proceeds from the funds (Carried Interest Plan). The Carried Interest Plan contains with an option for the Company to settle any final award in shares. This aligns the “at risk” remuneration structure with the broader alternative asset fund management industry, and aims to improve incentivisation and alignment of employee participants with shareholder and fund investor outcomes. The Carried Interest Plan is fully linked to actual cash carried interest proceeds received and retained by the Company, rewarding performance achieved on investments beyond the fund hurdle rates. This aligns with shareholder interests through the Company’s co-investment in the funds and the Company’s entitlement to carried interests. Long-Term Incentive Plan The LTIP is tied to the Group’s long-term performance. It encourages equity ownership and directly aligns shareholders’ and participants’ interests, whilst also not being a cash drain. Annual Report 2026 31
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Remuneration report (audited) (continued) Key Features of LTIP Participants Key management personnel Participation % of TFR Executive max 125% Payment frequency and type Annual grant of share performance rights with 3-year vesting Each right over OBL ordinary shares is issued for no consideration or exercise price The number of rights issued at the beginning of each service period is determined by reference to individual’s TFR and the Company’s VWAP at either (i) 30 June of the preceding Financial Year; or 31 December of the preceding Half Financial Year, depending on when a participant became eligible to participate in the LTIP Performance criteria Total Shareholder Return (TSR) OBL compared to a peer group comprising entities from the ASX diversified financials industry group with a market capitalisation of < $1bn Vesting depends on the Company’s Percentile ranking over the vesting period compared to the peer group: Percentile rank % TSR vesting less than 50th nil equal to 50th 50% between 50-75% 50-100% determined on a straight line basis 75th or above 100% Other – Good leaver/bad leaver provisions in respect to unvested rights – Malus event provisions in respect to fraud, dishonest behaviour, or gross misconduct – 12-month clawback provisions Directors’ report continued 32 Omni Bridgeway
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Remuneration report (audited) (continued) Executive & KMP Employment Contracts Raymond van Hulst Managing Director and Chief Executive Officer Contract commenced 21 April 2020 Gross annual salary package CHF700,000 Salary review Annually Notice period 12 months by either the Group or employee Termination payment arrangements Statutory entitlements, notice period, and subject to good or bad leaver status unvested LTIP Variable compensation LTIP Jeremy Sambrook Global General Counsel and Company Secretary Contract commenced 18 January 2016 Gross annual salary package $515,800 (including super) from 1 July 2025 Salary review Annually Notice period 6 months by either the Group or employee Termination payment arrangements Statutory entitlements, notice period, and subject to good or bad leaver status unvested LTIP Variable compensation LTIP, Carried Interest Plan David Breeney Global Chief Financial Officer Contract commenced 1 March 2025 Gross annual salary package $480,000 (including super) Salary review Annually Notice period 12 months by the Group or 6 months by the employee Termination payment arrangements Statutory entitlements, notice period, and subject to good or bad leaver status unvested LTIP Variable compensation LTIP, Carried Interest Plan Appointment performance rights Appointment bonus: – 28,450 rights; for period 31 March 2025 - 31 March 2026 – 28,450 rights; for period 31 March 2025 - 31 March 2027 – 28,450 rights; for period 31 March 2025 - 31 March 2028 Annual Report 2026 33
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Remuneration report (audited) (continued) Remuneration of Key Management Personnel Fixed Remuneration Variable Remuneration Short-term benefits Post- employment Long-term benefits Share-based payments 2026 Currency Salary & fees Cash bonus accrued Super- annuation / pension Employee entitlements Share performance rights Termination payments Total remuneration Performance related % APAC Directors and Executives K. Phin AUD 120,536 – 14,464 – – – 135,000 – % C. Feldmanis AUD 135,000 – – – – – 135,000 – % J. Sambrook AUD 485,800 – 30,000 (560) 337,587 – 852,827 40 % D. Breeney AUD 450,000 – 30,000 13,534 135,923 – 629,457 22 % EMEA Directors R. van Hulst CHF 701,876 – 48,106 16,246 293,085 – 1,059,313 28 % M. Green GBP 75,000 – – – – – 75,000 – % Fixed Remuneration Variable Remuneration Short-term benefits Post- employment Long-term benefits Share-based payments 2025 Currency Salary & fees Cash bonus accrued Super- annuation / pension Employee entitlements Share performance rights Termination payments Total remuneration Performance related % APAC Directors and Executives M. Kay¹ AUD 77,319 – 13,531 – – – 90,850 – % K. Phin AUD 121,076 – 13,924 – – – 135,000 – % C. Feldmanis AUD 135,000 – – – – – 135,000 – % J. Sambrook AUD 476,691 50,000 29,932 40,062 236,085 – 832,770 34 % D Breeney2 AUD 151,303 – 9,977 33,581 21,909 – 216,770 10% EMEA Directors R. van Hulst CHF 701,841 – 34,813 60,667 77,497 – 874,818 9% M. Green GBP 75,000 – – – – – 75,000 –% Americas Executive G. Leger2 USD 342,272 – 6,925 – – 58,261 407,458 – % 1. Michael Kay left the Group on 19 November 2024. 2. Represents the proportionate amount attributable to the period during which David Breeney and Guillaume Leger were classified as KMP. David Breeney joined, and Guillaume Leger departed the Executive Group on 1 March 2025. Directors’ report continued 34 Omni Bridgeway
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Remuneration report (audited) (continued) Share performance rights – Granted and vested during the year – Key Management Personnel Value remaining to be expensed to profit & loss 2026 Grant date Vesting date Expiry date Approved during the year Fair value per rights at grant date Value approved during the year Vested and exercised during the years Number AUD AUD Number AUD Executive Directors R. van Hulst - FY25 offer 01-July-24 30-June-27 30-June-27 1,395,705 0.53 739,724 – 246,575 Executives J. Sambrook - FY25 offer 01-July-24 30-June-27 30-June-27 479,342 0.53 254,051 – 84,684 J. Sambrook 31-Mar-25 31-Mar-26 31-Mar-40 – – – 24,657 – J. Sambrook 31-Mar-25 31-Mar-27 31-Mar-40 – – – – 12,384 J. Sambrook 31-Mar-25 31-Mar-28 31-Mar-40 – – – – 19,276 D. Breeney - FY25 offer 01-July-24 30-June-27 30-June-27 166,812 0.53 88,410 – 29,470 D. Breeney Bonus T1 31-Mar-25 31-Mar-26 31-Mar-40 – – – 28,450 – D. Breeney Bonus T2 31-Mar-25 31-Mar-27 31-Mar-40 – – – – 15,143 D. Breeney Bonus T3 31-Mar-25 31-Mar-28 31-Mar-40 – – – – 23,569 Total 2,041,859 1,082,185 53,107 431,101 Granted during the year Tranche 1 Tranche 2 Tranche 3 Total Value remaining to be expensed to profit & loss 2025 Grant date Vesting date Expiry date Awarded during the year Fair value per rights at grant date 1 Awarded during the year Fair value per rights at grant date 1 Awarded during the year Fair value per rights at grant date 1 Awarded during the year Value granted during the year Vested during the years Number AUD Number AUD Number AUD Number AUD Number AUD Executive Directors R. van Hulst - FY24 offer 01-July-23 30-June-26 01-July-38 343,096 0.05 85,774 1.01 – – 428,870 102,071 22,520 34,024 Executives J. Sambrook 01-July-23 30-June-26 01-July-38 – – – – – – – – 29,370 115,993 J. Sambrook 1 31-Mar-25 31-Mar-26 31-Mar-40 24,657 1.34 – – – – 24,657 33,041 – 24,781 J. Sambrook 1 31-Mar-25 31-Mar-27 31-Mar-40 – – 24,657 1.34 – – 24,657 33,041 – 28,911 J. Sambrook 1 31-Mar-25 31-Mar-28 31-Mar-40 – – – – 24,657 1.34 24,657 33,041 – 30,287 D. Breeney 01-July-23 30-June-26 01-July-38 – – – – – – – – – 13,125 D. Breeney Bonus T1 1 31-Mar-25 31-Mar-26 31-Mar-40 28,450 1.42 – – – – 28,450 40,399 – 30,299 D. Breeney Bonus T2 1 31-Mar-25 31-Mar-27 31-Mar-40 – – 28,450 1.42 – – 28,450 40,399 – 35,349 D. Breeney Bonus T3 1 31-Mar-25 31-Mar-28 31-Mar-40 – – – – 28,450 1.42 28,450 40,399 – 37,032 Total 396,203 138,881 53,107 588,191 322,391 51,890 349,801 1. J. Sambrook’s and D. Breeney’’s T1, T2 and T3 awards are included in addition to performance rights. Non-executives (K. Phin, C. Feldmanis, M. Green) did not participate in LTIP. They have not been included in the table. The fair value of performance rights is determined at the time of grant as prescribed in IFRS 2. For details on the valuation of performance rights, including models and assumptions used, refer to Note 29. Annual Report 2026 35
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Remuneration report (audited) (continued) Share performance right holdings of Key Management Personnel Balance 1 July 2025 Number Movement for the year Balance 30 June 2026 Number Total Granted as remuneration Exercised Lapsed Total Vested Unvested 2026 Number Number Number Number Number Number Number Executive Directors R. van Hulst 496,549 1,395,705 – – 1,892,254 67,679 1,824,575 Executives J. Sambrook 490,030 479,342 – – 969,372 246,096 723,276 D. Breeney 107,371 166,812 – – 274,183 28,450 245,733 Total 1,093,950 2,041,859 – – 3,135,809 342,225 2,793,584 Balance 1 July 2024 Movement for the year Balance 30 June 2025 Total Granted as remuneration Exercised Lapsed¹ Total Vested¹ Unvested 2025 Number Number Number Number Number Number Number Directors R. van Hulst 127,406 428,870 30,353 (90,080) 496,549 67,679 428,870 Executives J. Sambrook 533,538 73,971 – (117,479) 490,030 221,439 268,591 D. Breeney 22,021 85,350 – – 107,371 – 107,371 Total 682,965 588,191 30,353 (207,559) 1,093,950 289,118 804,832 1. As of 30 June 2025, the aggregated balance of performance rights held by KMP reflects the 20% vesting under the FY23 Long Term Incentive Plan, with the remaining performance rights set to lapse. Non-executives (K. Phin, C. Feldmanis, M. Green) did not participate in LTIP. They have not been included in the table. Directors’ report continued 36 Omni Bridgeway
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Remuneration report (audited) (continued) Interests of Key Management Personnel Shares Balance 1 July 2025 Received as remuneration Share performance rights exercised Net change other1 Balance 30 June 2026 2026 Number Number Number Number Number Directors R. van Hulst 6,319,529 – – 35,600 6,355,129 K. Phin 102,266 – – – 102,266 C. Feldmanis 85,000 – – 50,000 135,000 M. Green 207,115 – – – 207,115 Executives J. Sambrook 8,446 – – – 8,446 D. Breeney – – – – – Total 6,722,356 – – 85,600 6,807,956 Shares Balance 1 July 2024 Received as remuneration Share performance rights exercised Net change other1 Balance 30 June 2025 2025 Number Number Number Number Number Directors R. van Hulst 5,048,765 – (30,353) 1,301,117 6,319,529 K. Phin 102,266 – – – 102,266 C. Feldmanis 85,000 – – – 85,000 M. Green 72,212 – – 134,903 207,115 Executives J. Sambrook 8,446 – – – 8,446 D. Breeney – – – – – Total 5,316,689 – (30,353) 1,436,020 6,722,356 1. Net change other relates to shares bought or sold on market. Shares above are held nominally by the Directors or the other KMP. Loans to Key Management Personnel There have been no loans provided to KMP in 2026 (2025: nil). Transactions with Key Management Personnel There have been no transactions with KMP in 2026 (2025: nil). Annual Report 2026 37
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Auditor’s Independence Declaration Directors’ report continued 38 Omni Bridgeway
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Consolidated Statement of Comprehensive Income for the year ended 30 June 2026 Consolidated 2026 2025 Note $'000 $'000 Continuing operations Revenue from contracts with customers 2 96,312 54,986 Interest revenue 3 10,156 12,996 Net gain on litigation investments - financial assets 4 61,920 279,698 Net gain on derecognition of litigation investments - intangible assets 5 7,037 26,499 Net gain on litigation investments - purchased claims 13 5,566 4,323 Net gain on disposal of subsidiaries and other assets 31 – 242,241 Share of profit in associates 32 222 15,461 Other income 6 1,022 15,243 Total income 182,235 651,447 Finance costs 7(a) 1,322 11,119 Amortisation of litigation investments - claims portfolio 7(b) 35,073 22,718 Depreciation expense 7(c) 4,012 4,379 Employee benefits expenses 7(d) 51,160 61,110 Corporate and office expenses 7(e) 13,541 20,950 Other expenses 7(f) 7,917 3,804 Impairment expense and adverse costs - litigation investments 7(g) 12,733 35,818 Expected credit loss expense/(reversal) 7(h) 1,646 (4,196) Fair value adjustment of financial liabilities 31 6,660 225 Profit before tax 48,171 495,520 Income tax expense 8 2,242 78,698 Profit for the year 45,929 416,822 Attributable to: Equity holders of the Parent 9 53,697 349,797 Non-controlling interests 31 (7,768) 67,025 Other comprehensive income/(loss) Items that may be subsequently reclassified to profit or loss: Movement in foreign currency translation reserve (42,819) 3,201 Items that will not be subsequently reclassified to profit or loss: Movement in foreign currency translation reserve attributed to non-controlling interests 31 (5,926) 32,208 Other comprehensive (loss)/income net of tax (48,745) 35,409 Total comprehensive (loss)/income for the year (2,816) 452,231 Attributable to: Equity holders of the Parent 10,878 352,998 Non-controlling interests (13,694) 99,233 Profit per share attributable to the equity holders of the Company (cents per share) Basic profit per share (cents per share) 9 18.58 123.15 Diluted profit per share (cents per share) 9 18.46 122.57 The above Consolidated Statement of Comprehensive Income should be read in conjunction with the accompanying notes. Annual Report 2026 39
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Consolidated Statement of Financial Position as at 30 June 2026 Consolidated 2026 2025 Note $'000 $'000 Assets Cash and cash equivalents 18 158,607 180,289 Trade and other receivables 22 78,284 101,123 Contract costs – 705 Other assets 16,185 16,938 Litigation investments - claims portfolio 12 90,385 125,307 Litigation investments - purchased claims 13 26,641 19,242 Litigation investments - intangible assets 14 61,977 65,483 Litigation investments - financial assets 15 472,980 418,059 Litigation investments - investment in associates 32 1,073 8,250 Goodwill 16 104,407 112,910 Right-of-use assets and other plant and equipment 23 8,754 12,227 Investment in associates 32 9,423 10,174 Deferred tax assets 8 93,786 115,204 Total assets 1,122,502 1,185,911 Liabilities Trade and other payables 24 92,238 114,756 Income tax payable 1,765 5,482 Provisions 25 5,435 33,059 Lease liabilities 26 9,891 13,031 Other financial liabilities 1,760 2,704 Borrowings 19 35,395 19,500 Deferred tax liabilities 8 86,530 108,799 Other liabilities 1,441 2,931 Financial liabilities - warrants¹ 31 29,462 22,869 Total liabilities 263,917 323,131 Net assets 858,585 862,780 Equity Contributed equity 20 484,864 475,717 Reserves 21(a) (5,058) 49,734 Retained earnings 21 196,831 143,134 Equity attributable to equity holders of the parent 676,637 668,585 Non-controlling interests 31 181,948 194,195 Total equity 858,585 862,780 1. Warrants issued in the Fund 9 transaction are classified as a liability under IFRS. The Group expects the liability will be extinguished via equity settlement. The above Consolidated Statement of Financial Position should be read in conjunction with the accompanying notes. 40 Omni Bridgeway
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Consolidated Statement of Cash Flows for the year ended 30 June 2026 Consolidated 2026 2025 Note $'000 $'000 Cash flows from operating activities Proceeds from litigation investments - claims portfolio 75,086 107,897 Payments for litigation investments - claims portfolio (45,041) (23,748) Proceeds from management fees and carried interests 28,820 27,089 Payments to suppliers and employees (68,056) (74,022) Interest received 1,396 2,217 Interest paid (5,615) (19,036) Income tax paid (4,933) (3,308) Net cash flows (used in)/from operating activities 11 (18,343) 17,089 Cash flows from investing activities Proceeds from litigation investments - purchased claims 4,503 34,948 Payments for litigation investments - purchased claims (972) (2,203) Proceeds from litigation investments - intangible assets 58,457 70,314 Payments for litigation investments - intangible assets (33,954) (93,536) Proceeds from litigation investments - financial assets 6,625 – Payments for litigation investments - financial assets (18,390) (8,940) Payments for litigation investments - capitalised overheads and employee costs (1,223) (8,864) Payments for plant and equipment (132) (44) Prepayments for litigation investments (7,330) (17,607) Deconsolidation of subsidiaries – (21,818) Investment in associates (824) (7,331) Proceeds from investment in associates 1,231 25,048 Proceeds from disposal of subsidiaries – 314,136 Net cash flows from investing activities 7,991 284,103 Cash flows from financing activities Payments of borrowing costs (1,100) (180) Repayment of debt 19 (1,919) (250,000) Proceeds from issue of borrowings 19 19,003 5,925 Payments of lease liabilities (5,180) (4,854) Contributions from non-controlling interests 31 – 66,103 Distributions to non-controlling interests 31 (11,200) (91,313) Receipts from debt insurance – 639 Payments of share buy-back scheme – (10) Share capital 108 – Net cash flows used in financing activities (288) (273,690) Net (decrease)/increase in cash and cash equivalents held (10,640) 27,502 Net foreign exchange difference (11,042) 16,907 Cash and cash equivalents at beginning of year 180,289 135,880 Cash and cash equivalents at end of year 18 158,607 180,289 The above Consolidated Statement of Cash Flows should be read in conjunction with the accompanying notes. Annual Report 2026 41
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Consolidated Statement of Changes in Equity for the year ended 30 June 2026 Issued capital Share- based payment reserve Foreign currency translation reserve Other equity reserve Fund equity reserve Retained earnings Total Non- controlling interests Total equity Notes $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000 At 1 July 2025 475,717 16,437 26,061 7,236 – 143,134 668,585 194,195 862,780 Profit for the year – – – – – 53,697 53,697 (7,768) 45,929 Other comprehensive loss – – (42,819) – – – (42,819) (5,926) (48,745) Total comprehensive income/ (loss) for the year – – (42,819) – – 53,697 10,878 (13,694) (2,816) Shares issued – (9,144) – – – – (9,144) – (9,144) Share-based payments, net of tax 9,147 3,097 – – – – 12,244 – 12,244 Distributions to non-controlling interests – – – – – – – (4,385) (4,385) Changes in the proportion of equity held by non-controlling interests – – (5,926) – – – (5,926) 5,832 (94) At 30 June 2026 20, 21, 29, 31 484,864 10,390 (22,684) 7,236 – 196,831 676,637 181,948 858,585 The above Consolidated Statement of Changes in Equity should be read in conjunction with the accompanying notes. 42 Omni Bridgeway
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Consolidated Statement of Changes in Equity (continued) for the year ended 30 June 2026 Issued capital Share- based payment reserve Foreign currency translation reserve Other equity reserve Fund equity reserve Retained earnings/ (Accumulated losses) Total Non- controlling interests Total equity Notes $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000 At 1 July 2024 460,716 18,121 (14,516) 7,236 (14,172) (206,663) 250,722 544,207 794,929 Profit for the year – – – – – 349,797 349,797 67,025 416,822 Other comprehensive income – – 3,201 – – – 3,201 32,208 35,409 Total comprehensive income/ (loss) for the year – – 3,201 – – 349,797 352,998 99,233 452,231 Equity Transactions: Shares issued – (7,207) – – – – (7,207) – (7,207) Share-based payments, net of tax 7,103 5,594 – – – – 12,697 – 12,697 Shares issued to settle deferred and variable deferred consideration 7,898 – – – – – 7,898 – 7,898 Contributions from non- controlling interests – – – – – – – 59,202 59,202 Distributions to non-controlling interests – – – – – – – (94,995) (94,995) Deconsolidation of Subsidiary – (71) 5,168 – 23,795 – 28,892 (400,925) (372,033) Changes in the proportion of equity held by non-controlling interests – – 32,208 – (9,623) – 22,585 (12,527) 10,058 At 30 June 2025 20, 21, 29, 31 475,717 16,437 26,061 7,236 – 143,134 668,585 194,195 862,780 The above Consolidated Statement of Changes in Equity should be read in conjunction with the accompanying notes. Annual Report 2026 43
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Notes to the Financial Statements for the year ended 30 June 2026 About this Report The financial report of Omni Bridgeway Limited (OBL, Company, Parent) and its subsidiaries (Group, Consolidated Entity) for the year ended 30 June 2026 was authorised for issue in accordance with a resolution of the directors on 26 August 2026. The principal activities of the entities within the consolidated group are: i. the investment into, capital raising and management of Funds (or Fund-like structures) that are focused on investing into litigation and dispute resolution matters globally; and ii. the continued holding of direct investments into similar litigation and dispute resolution matters. Omni Bridgeway Limited (ABN 45 067 298 088) is a for profit Company incorporated and domiciled in Australia and limited by shares that are publicly traded on the Australian Securities Exchange (ASX code: OBL). This section sets out the basis upon which the Group’s Financial Statements are prepared. Specific accounting policies are described in the respective notes to the Financial Statements. This section also shows information on new or amended accounting standards and interpretations and their impact on the financial position and performance of the Group. a. Basis of preparation The financial report is a general purpose financial report, which has been prepared in accordance with the requirements of the Corporations Act 2001, Australian Accounting Standards and other authoritative pronouncements of the Australian Accounting Standards Board. The financial report has been prepared on a historical cost basis, except for the financial assets and liabilities that have been measured at fair value. The amounts contained within this report have been rounded to the nearest $1,000 or $100,000 (where rounding is applicable) under the option available to the Company under ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2026/183, unless stated otherwise. b. Compliance with IFRS The financial report also complies with International Financial Reporting Standards (IFRS), as issued by the International Accounting Standards Board. c. Basis of consolidation The consolidated financial statements comprise the financial statements of Omni Bridgeway Limited and its subsidiaries at 30 June 2026. Control is achieved when the Group is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. The Group includes Fund collective investment vehicles over which Omni Bridgeway Limited has the right to direct the relevant activities of the Fund under contractual arrangements and has exposure to variable returns from the Fund collective investment vehicles. See Note 31. The financial results of the subsidiaries are prepared for the same reporting period as the Company, using consistent accounting policies. A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction. In preparing the consolidated financial statements, all intercompany balances and transactions, income and expenses and profits and losses resulting from intra-group transactions have been eliminated in full. Foreign currency The Group’s consolidated financial statements are presented in Australian dollars, which is also the Parent’s functional currency. The Group determines the functional currency of each entity in the Group. The Group uses the direct method of consolidation and on disposal of a foreign operation, the gain or loss that is reclassified to profit or loss reflects the amount that arises from using this method. Transactions and balances Transactions in foreign currencies are initially recorded by each entity in the Group at their respective functional currency spot rates at the date the transaction first qualifies for recognition. Monetary assets and liabilities denominated in foreign currencies are converted at the functional currency spot rates of exchange at the reporting date. Exchange differences arising on settlement or conversion of monetary items are recognised in profit or loss. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rates at the dates of the initial transactions. Non-monetary items measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value is determined. The gain or loss arising on translation of non-monetary items measured at fair value is treated in line with the recognition of gain or loss on change in fair value of the item (i.e. translation differences on items whose fair value gain or loss is recognised in other comprehensive income or profit or loss are also recognised in other comprehensive income or profit or loss, respectively). Group companies On consolidation, the assets and liabilities of foreign operations are translated into Australian dollars at the rate of exchange prevailing at the reporting date and their statements of profit or loss are translated at exchange rates prevailing at the dates of the transactions. The exchange differences arising on translation for consolidation purposes are recognised in other comprehensive income. On disposal of a foreign operation, the component of other comprehensive income relating to that particular foreign operation is recognised in profit or loss. 44 Omni Bridgeway
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About this Report (continued) d. New and amended accounting standards and interpretations adopted during the year The accounting policies adopted are consistent with those followed in the preparation of the Group’s annual consolidated financial statements for the year ended 30 June 2025. The Group has applied the following standards and amendments for the first time for its annual reporting period commencing 1 July 2025: • AASB 2023-5 Amendments to Australian Accounting Standards – Lack of Exchangeability. • AASB 2026-1 Amendments to Australian Accounting Standards – Disclosures about Uncertainties in the Financial Statements. The amendments listed above did not have any impact on the amounts recognised in prior periods and had no significant effect on current period. e. New and amended accounting standards and interpretations issued but not yet effective The new and amended standards and interpretations that are issued, but not yet effective, up to the date of issuance of the Group’s financial statements that the Group reasonably expects will have an impact on its disclosures, financial position or performance when applied at a future date, are disclosed below. • AASB 2024-2 Classification and Measurement of Financial Instruments. • AASB 2024-3 Amendments to Australian Accounting Standards – Annual Improvements Volume 11. • AASB 18 Presentation and Disclosure in Financial Statements. The Group intends to adopt these new and amended standards and interpretations, if applicable, when they become effective. Of the other standards and interpretations that are issued, but not yet effective, as these are not expected to impact the Group, they have not been listed. f. Significant accounting judgments, estimates and assumptions The preparation of the Group’s consolidated financial statements requires management to make judgments, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures, and the disclosure of contingent liabilities at the date of the consolidated financial statements. Key judgments In the process of applying the Group’s accounting policies, management has made the following judgments, which have the most significant effect on the amounts recognised in the consolidated financial statements: Consolidation of entities in which the Group holds less than a majority voting right (de facto control) The Group has assessed the entities in which it has an interest to determine whether or not control exists and the entity is, therefore, consolidated into the Group. These entities are listed in Notes 30 and 31. For those entities consolidated, the Group uses judgment to determine that it has power to direct the relevant activities of the investee under contractual arrangements and sufficient exposure to variable returns. Taxation The Group’s accounting policy for taxation requires management’s judgment in assessing whether deferred tax assets and certain deferred tax liabilities are recognised on the Statement of Financial Position. Deferred tax assets, including those arising from tax losses, capital losses and temporary differences, are recognised only where it is considered more likely than not that they will be recovered, which is dependent on the generation of sufficient future taxable profits. Assumptions about the generation of future taxable profits depend on management’s estimates of future cash flows as contained in the Group’s yearly budget. These depend on estimates of future income, operating costs, capital expenditure, dividends and other capital management transactions. Judgments and assumptions are also required about the application of income tax legislation. These judgments and assumptions are subject to risk and uncertainty, hence there is a possibility that changes in circumstances will alter expectations, which may impact the amount of deferred tax assets and deferred tax liabilities recognised in the Consolidated Statement of Financial Position and the amount of other tax losses and temporary differences not yet recognised. In such circumstances, some or all of the carrying amounts of recognised deferred tax assets and liabilities may require adjustment, resulting in a corresponding credit or charge to the Consolidated Statement of Comprehensive Income. Litigation investments Classification of litigation investments as either claims portfolio, purchased claims, intangible assets, financial assets or investment in associates requires judgment on the circumstances and contracts attached to the investment. Refer to Notes 12 - 15 and 32 on the accounting policies for litigation investments and investment in associates. Annual Report 2026 45
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About this Report (continued) Significant estimates and assumptions The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below. The Group based its assumptions and estimates on parameters available when the consolidated financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising that are beyond the control of the Group. Such changes are reflected in the assumptions when they occur. Impairment of financial and non-financial assets The Group assesses impairment of all required financial and non-financial assets at each reporting date by evaluating conditions specific to the Group and to the particular asset that may lead to impairment. Impairment exists when the carrying value of an asset or cash generating unit exceeds its recoverable amount, which is the higher of its fair value less costs of disposal and its value in use. The Group primarily relies on value in use calculations based on Discounted Cash Flows (DCF) models. The cash flows are derived from either the Group’s budget or from estimates made by investment managers. The recoverable amount is sensitive to the discount rate used for the DCF model as well as the expected future cash-inflows and the growth rate used for extrapolation purposes. These estimates are most relevant to goodwill and other intangibles recognised by the Group. Refer to individual notes for further information around impairment of financial and non- financial assets. Fair value measurement of financial liabilities through profit or loss When warrants issued by the Group as part of the Fund 9 transaction is classified as a financial liability at fair value through profit or loss, it is subsequently remeasured to fair value at each reporting date. The determination of the fair value is based on option pricing methodology. The key inputs are detailed in Note 31. The warrants issued by the Group contain certain non-standard features that could potentially impact their valuation. Management concluded that the impact of the non-standard features could be reasonably approximated within a standard Black-Scholes framework. Accordingly, the warrants have been valued using a modified Black-Scholes call option model. The key adjustment involves the time-to- expiry input, which has been derived from the call feature trigger. This approach reflects management’s judgement that the simplified model provides a reliable and transparent estimate of fair value, while balancing complexity and relevance to the underlying economic characteristics of the instrument. Provision for adverse costs The Group raises a provision for adverse costs upon an underlying litigation receiving a losing judgment in certain jurisdictions that require adverse costs to be paid to the litigation’s counterparty. If an appeal is lodged, the Group still raises a provision. The provision raised is the Group’s best estimate of the amount of adverse costs it will have to remit. Typically, this estimate is between nil to 80% of the amount spent by the plaintiff, on the basis that there is only one defendant per the litigation. Refer to Notes 25 and 27 for further details on adverse costs. Share-based payments Estimating fair value for share-based payment transactions requires determination of the most appropriate valuation model, which depends on the terms and conditions of the grant. This estimate also requires determination of the most appropriate inputs to the valuation model including the expected life of the performance rights, volatility, dividend yield and risk-free rate and making assumptions about them. For the measurement of the fair value of performance rights at the grant date, the Group uses a Monte-Carlo simulation model and Black-Scholes model. The assumptions and models used for estimating fair value for share-based payment transactions are disclosed in Note 29. Measurement of non-controlling interests (NCI) Profits and losses are attributed to non-controlling interests in line with the allocation of profit distributions under the terms of the respective agreements with non-controlling investors. Therefore, at the end of each reporting period, the non-controlling interests represent the non-controlling shareholders’ share of net assets, as would be distributed under the relevant shareholders or investors agreements at the balance date. Revenue recognition – estimating variable consideration on management fees The Group estimates variable considerations to be included in the transaction price for management fees. Management fees are based on the level of external investors’ net deployed capital or net committed capital per quarter and any uncertainty is resolved at the end of the same quarter. Therefore, management fee revenues are recognised quarterly in arrears, corresponding with the delivery of performance obligations. Net gain on derecognition of litigation investments – intangible assets The Group recognises proceeds and derecognises carrying costs on disposal in accordance with the investments’ funding terms. In some instances, the calculation requires certain estimates and assumptions to be made. Refer to Note 14 for further information. Investments in associates (former subsidiaries) For all subsidiaries where there is more than 50% ownership interest and voting rights, the Group’s power to direct the relevant activities of the investee is subject to a without-cause kick-out right exercisable by a third party, the Group is considered to be acting as an agent and thus has no control. The Group’s retained power is able to significantly influence the financial and operating activities of the investee. The retained interest is equity accounted for as an investment in associates and initially recognised at the fair value. The Group uses Investment Managers’ best estimate to calculate the present value of probability-weighted cashflows from litigation investments held in the associate which represents the fair value of the retained non-controlling interest held by the Group. Refer to Note 32 for further information. Litigation investments – purchased claims The Group initially recognises litigation investments – purchased claims at fair value. These are subsequently measured at amortised cost by applying the credit-adjusted effective interest rate based on estimated cash flows. Refer to Note 13 for further information. Notes to the Financial Statements continued 46 Omni Bridgeway
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About this Report (continued) Litigation investments – financial assets The Group classifies litigation investments - financial assets as financial assets at fair value through the profit or loss in accordance with IFRS 9 Financial Instruments. These investments are initially recognised at fair value plus any attributable transaction costs and are subsequently measured at fair value at each reporting date. Subsequent changes in fair value are recognised as fair value gains or losses to profit or loss. Refer to Note 15 for further information. At inception the fair value of an investment is determined as the net present value of the future loss-adjusted probability-weighted investment cash flows for the likely outcome scenarios (including loss) for the investment. The model uses informed assumptions for outcome scenarios, probabilities, cash inflows and cash outflows, which rely on inputs around the key risk factors for legal investments, including loss risk, duration risk, budget risk, quantum risk and recoverability risk (credit risk). In subsequent periods the fair value of an investment is adjusted, positively or negatively, based on the combination of: • Deployments made for the investment during the period. • The unwinding of the discount due to the passage of time. • Changes in the discount rate. • Material litigation events, which are objectively verifiable events leading to changes in assumptions or inputs. A discount rate of 12% is used, based on the weighted average cost of capital (WACC) for the legal finance asset class, which closely aligns with the WACC for OBL and with the hurdle rates for our third-party fund capital. All main investment risks associated with legal investments, including loss risk, duration risk, budget risk, quantum risk and credit risk are reflected in the probabilistic scenarios, and therefore fall outside the scope of risks determining the required discount rate. There are many possible material litigation events, with some generally applicable to most litigation investments and others more investment specific. A material litigation event is always objectively verifiable and not based on a subjective reassessment of an investment. Typical material litigation events include: • Judgments, arbitral decisions, new relevant case law, mediations, partial settlements or recoveries, new external legal opinions (e.g. as a result of changes to fact base or legal discovery), new expert opinions (e.g. on damages). • Changes to expected duration (e.g. following case management hearings, court timetables or observed delays), book-building results, budget changes, asset freezes, new recoverability intelligence, etc. Expected credit losses (ECLs) of receivables The Group uses Investment Managers’ best estimate to calculate ECLs for receivables. The provision is based on assessment of customer segments that have similar loss patterns. Refer to Note 22 for further information. Annual Report 2026 47
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A. RESULTS FOR THE YEAR Note 1: Segment information The Group operates in one industry, being funding and provision of services in relation to legal dispute resolution. For management purposes, the Group is organised into operating segments comprising the Group’s corporate operations and business across geographic locations: • Americas - the Group’s investment management business operating in America, Canada and Latin America • APAC - the Group’s investment management business operating in Australia, Asia and New Zealand; and • EMEA - the Group’s investment management business operating in Europe, Middle East and Africa Operating segments have been reported in a manner consistent with internal management reporting provided to the chief operating decision-maker (CODM) for assessing performance and determining resource allocation. The CODM consists of the Group Chief Executive Officer and other members of the Investment Committee. Total assets and liabilities are reviewed at a consolidated level, and the CODM does not regularly review segment assets and liabilities. The tables below set forth the components of the profit/(loss) by segment for the periods indicated. Americas APAC EMEA Corporate Total Group A$ million 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 Revenue 11 7 10 117 95 68 2 (165) 118 27 Inter-segment income¹ 22 2 22 18 21 21 – 5 65 46 Fair value gain/(loss)4 5 (25) 79 49 106 31 95 – – 55 280 Other income2 1 115 2 254 – (4) – (58) 3 307 Total Segment Income 9 203 83 495 147 180 2 (218) 241 660 Operating expenses (19) (8) (15) (18) (17) (15) (20) (25) (71) (66) Inter-segment expenses¹ (8) (2) (1) (9) (56) (29) – (5) (65) (45) Other expenses (7) (5) – (8) 1 (9) (11) 8 (17) (14) EBITDA (25) 188 67 460 75 127 (29) (240) 88 535 Amortisation and depreciation (2) (2) (1) (2) (36) (24) – – (39) (28) EBIT (27) 186 66 458 39 103 (29) (240) 49 507 Interest expenses – (1) – – (1) – – (10) (1) (11) Profit/(Loss) before tax (27) 185 66 458 38 103 (29) (250) 48 496 Tax expenses3 – – – – – – 2 79 2 79 Profit/(Loss) after tax (27) 185 66 458 38 103 (31) (329) 46 417 1. Inter-segment revenue/expenses comprise interest revenue/expenses on intercompany loans, transfer pricing, advisory fees and other charges, which are eliminated on consolidation. 2. Other income comprises the income generated from secondary market sales, management services, other investments and foreign exchange. 3. The tax effect accounting is managed on a Group basis and not allocated to the individual segments. 4. The fair value gains and losses arise from the changes in the fair value of the litigation investment, which is classified as a financial asset measured at fair value through profit or loss (FVTPL). 5. The regional segment split is based on the fair value movement of investment portfolio, with each investment assigned to a region according to its jurisdiction or legal venue. This geographic allocation reflects the Group’s economic exposure and investment performance, aligned with internal management reporting. Note 2: Revenue from contracts with customers Revenue from contracts with customers is recognised when control of the service is transferred to the customer at an amount that reflects the consideration to which the Group expects to be entitled in exchange for those services. (i) Litigation investments – claims portfolio The nature of services Revenue is generated from providing enforcement, collection, monetisation and recovery services to customers with judgments, awards or contractual debts and receivables. Performance obligations At investment inception, the Group assesses the services promised in its contracts with customers and identifies the performance obligation involved in each promise to transfer funds received to the customer. Performance obligations are satisfied at a point in time, upon the recovery of each dollar. Notes to the Financial Statements continued 48 Omni Bridgeway
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Note 2: Revenue from contracts with customers (continued) Transaction price Almost all revenues from litigation investments – claims portfolio are based on a no success, no fee basis. The transaction price contains various components, with each component being either fixed or variable. The Group includes variable consideration (a portion or all) in the transaction price only when it is highly probable that the recognised revenue will not incur a significant revenue reversal. The revenue is based on a percentage that is recovered so the uncertainty is typically removed when the money is received or settlement agreement has been signed and where applicable, court approval obtained as, at that point, the revenue formula can be applied to the amount collected. (ii) Management, service and transaction fees The management, service or transaction fee revenue earned during the year was derived from Investment Management Agreements with the investors. The services provided are for the administration of the investor accounts and fund structures. The consideration is considered to be variable consideration if it is determined with reference to the net invested capital attributable to the co-investor’s accounts. Variable consideration is recognised to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognised will not occur. The revenue is recognised over the period as the Group transfers control of the services over a specific period. Management, service and transaction fees related to fund monitoring are recognised progressively over the period when there is net invested capital in the fund. These fees are calculated and recognised at the end of each quarter when the net invested capital or commitment is determined. Transactions fees associated with underwriting activities are recognised over the underwriting period. These fees are calculated and recognised at the conclusion of the underwriting phase, when the litigation funding agreement is successfully executed. Americas APAC EMEA Corporate Total $'000 $'000 $'000 $'000 $'000 2026 Type of service Timing of revenue recognition (i) Litigation investments – claims portfolio Services transferred at a point in time 1,419 – 67,556 – 68,975 (ii) Management, service and transaction fees Services transferred over time 10,820 8,732 4,057 3,728 27,337 12,239 8,732 71,613 3,728 96,312 2025 Type of service Timing of revenue recognition (i) Litigation investments – claims portfolio Services transferred at a point in time – – 34,533 – 34,533 (ii) Management, service and transaction fees Services transferred over time 7,568 2,802 3,620 6,463 20,453 7,568 2,802 38,153 6,463 54,986 Note 3: Interest revenue Interest revenue is recognised using the effective interest rate method. The effective interest rate 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. The Group earned 46% (2025: 43%) of its interest revenue on cash and deposits in Australia. Interest revenue on receivables relates to the EMEA, Americas and APAC regions. The purchased claims revenue relates to the EMEA geographical market. Consolidated 2026 2025 $'000 $'000 Interest revenue Interest revenue on cash and deposits 1,170 2,206 Interest revenue on receivables 918 2,803 Interest revenue on litigation investments - purchased claims 8,068 7,987 10,156 12,996 Annual Report 2026 49
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Note 4: Net gain on fair value of financial assets at fair value through profit or loss Net gain on financial instruments at fair value through profit or loss (FVTPL) represents the fair value movements of the Group’s financial assets and liabilities recognised at fair value through profit or loss. The determination of the fair value for the Group’s financial assets and liabilities is designated as level 3 in the fair value hierarchy. Unrealised fair value gains/(losses) are determined as the total fair value gains and losses during the period less cash received or called for full or partial completions. Each cash receipt from the funds represents a realised gain or loss. This is not representative of activity within the underlying funds. Consolidated 2026 2025 $'000 $'000 Litigation investments - financial assets Realised fair value gains 6,493 19,282 Unrealised fair value gains 55,427 260,416 61,920 279,698 Note 5: Net gain on derecognition of litigation investments - intangible assets Net gain on derecognition of litigation investments – intangible assets are derived from the disposal through sale or completion (partial or full) of the underlying litigation that the Group invested in. The accounting policy for litigation investments - intangible assets is outlined in Note 14. Consolidated 2026 2025 $'000 $'000 Net gain on derecognition of litigation investments - intangible assets Proceeds 22,084 51,899 Derecognition of carrying cost (15,047) (25,400) 7,037 26,499 Net gain on derecognition of litigation investments – intangible assets can be represented geographically as follows: Consolidated 2026 2025 $'000 $'000 Americas – 6,978 APAC 295 1,844 EMEA 6,742 17,677 7,037 26,499 Notes to the Financial Statements continued 50 Omni Bridgeway
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Note 6: Other income Consolidated 2026 2025 $'000 $'000 Other income Net foreign exchange gain – 15,111 Other income 1,022 132 1,022 15,243 Note 7: Expenses Finance costs Borrowing costs directly attributable to the acquisition and development of a qualifying asset (i.e. an asset that necessarily takes a substantial period of time to get ready for its intended use or sale) are capitalised as part of the cost of that asset. All other borrowing costs are expensed in the period they occur. Borrowing costs consist of interest and other costs that the Group incurs in connection with the borrowing of funds. Detailed information is provided in Note 19. Amortisation of litigation investments – claims portfolio Amortisation of litigation investments – claims portfolio represents the amortisation of the capitalised contract costs due to completion of the underlying enforcement or recovery action. Detailed information is provided in Note 12. Depreciation The depreciation policy is disclosed in Note 23. Employee benefits Provision is made for employee benefits accumulated as a result of employees rendering services up to the end of the reporting period. These benefits include salaries and wages, annual leave, long service leave and bonuses. Liabilities in respect of employees’ services rendered that are not expected to be wholly settled within one year after the end of the periods in which the employees render the related services are recognised as long-term employee benefits. These liabilities are measured at the present value of the estimated future cash outflow to be made to the employees using the projected unit credit method. Liabilities expected to be wholly settled within one year after the end of the period in which the employees render the related services are classified as short-term benefits and are measured at the amount due to be paid. The corresponding movements are expensed together with those incurred during the year. Share-based payments The policy for share-based payments is disclosed in Note 29. Impairment expense – litigation investments The policy for impairment expense – litigation investments is disclosed in Notes 12-15 according to asset classes litigation investments – claims portfolio, litigation investments – purchased claims, litigation investments – intangible assets and litigation investments – financial assets. Adverse costs – litigation investments The expense raised is the Group’s best estimate of the amount of adverse costs it will have to remit where the underlying litigation has received an unfavourable judgment. Refer to Notes 25 and 27 for further details on adverse costs. Annual Report 2026 51
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Note 7: Expenses (continued) Consolidated 2026 2025 Note $'000 $'000 (a) Finance costs Interest on lease liabilities 26 762 1,015 Other finance charges 560 10,104 1,322 11,119 (b) Amortisation of litigation investments - claims portfolio Amortisation of litigation investments - claims portfolio 12 35,073 22,718 (c) Depreciation expense Depreciation 23 4,012 4,379 (d) Employee benefits expenses Wages and salaries 42,535 50,313 Superannuation expense 2,142 2,367 Directors' fees 404 484 Payroll tax 2,982 3,794 Share-based payments 29 3,097 4,152 51,160 61,110 (e) Corporate and office expenses Insurance expense 4,025 4,610 Network expense 1,890 2,081 Marketing expense 962 892 Occupancy expense 806 835 Professional fees expense 4,360 11,307 Recruitment expense 173 4 Travel expense 1,325 1,221 13,541 20,950 (f) Other expenses General expenses 4,158 2,782 Amortisation of contract costs 704 939 Staff training, development and conferences 112 83 Net foreign exchange loss 2,943 – 7,917 3,804 (g) Impairment expense and adverse costs - litigation investments Adverse costs - litigation investments 25 72 4,523 Net impairment loss - litigation investments 12-15 12,661 31,295 12,733 35,818 (h) Expected credit loss allowance Expected credit loss expense/(reversal) 22 1,646 (4,196) 1,646 (4,196) Notes to the Financial Statements continued 52 Omni Bridgeway
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Note 8: Income tax Income tax Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities based on the taxable income for the current period. The tax rates and tax laws used to compute the amount are those enacted or substantively enacted by the reporting date. Deferred income tax is provided in full, using the balance sheet method, on taxable temporary differences arising between the carrying amounts of assets and liabilities for financial reporting and tax purposes. Deferred income tax liabilities are recognised for all taxable temporary differences except: • When the deferred income tax liability arises from the initial recognition of goodwill or of 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 profit nor taxable profit or loss; or • When the taxable temporary difference is associated with investments in subsidiaries, associates or interests in joint ventures, and the timing of the reversal of the temporary difference can be controlled and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred income tax assets are recognised for all deductible temporary differences, carry-forward of unused tax assets and unused tax losses, to the extent that it is probable that taxable profit will be available against which the deductible temporary differences and the carry-forward of unused tax credits and unused tax losses can be utilised, except: • When the deferred income tax asset relating to the deductible temporary difference arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss; or • When the deductible temporary difference is associated with investments in subsidiaries, associates or interests in joint ventures, in which case a deferred tax asset is only recognised to the extent that it is probable that the temporary difference will reverse in the foreseeable future and taxable profit will be available against which the temporary difference can be utilised. The carrying amount of deferred income tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred income tax asset to be utilised. Unrecognised deferred income tax assets are reassessed at each reporting date and are recognised to the extent that it has become probable that future taxable profit will allow the deferred tax assets to be recovered. Deferred income tax assets and liabilities are measured at the tax rates that are expected to apply to the year when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date. Income taxes relating to items recognised directly in other comprehensive income are recognised in equity and not in profit or loss. Deferred tax assets and deferred tax liabilities are offset only if a legally enforceable right exists to set off current tax assets against current tax liabilities and the deferred tax assets and liabilities relate to the same taxable entity and the same taxation authority. Australian tax consolidated group The Parent and its Australian resident wholly owned subsidiaries have formed an income tax consolidated group. The Parent has entered into tax funding arrangements with its Australian resident wholly owned subsidiaries, pursuant to which each subsidiary has agreed to pay or receive a tax equivalent amount based on the net taxable amount or loss of the subsidiary at the current tax rate. The tax consolidated group has applied the separate taxpayer approach in determining the appropriate amount of current taxes to allocate to each entity. Other taxes Revenues, expenses and assets are recognised net of the amount of GST, except (i) when the GST incurred on a purchase of goods and services is not recoverable from the taxation authority, in which case the GST is recognised as part of the cost of acquisition of the asset or as part of the expense item, as applicable; and (ii) receivables and payables, which are stated with the amount of GST included. The net amount of GST recoverable from, or payable to, the taxation authority is included as part of receivables or payables in the Consolidated Statement of Financial Position. Cash flows are included in the Consolidated Statement of Cash Flows on a gross basis and the GST component of cash flows arising from investing and financing activities, which is recoverable from, or payable to, the taxation authority is classified as part of cash flows from operating activities. Annual Report 2026 53
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Note 8: Income tax (continued) Commitments and contingencies are disclosed net of the amount of GST recoverable from, or payable to, the taxation authority. Consolidated 2026 2025 $'000 $'000 Consolidated Statement of Comprehensive Income The major components of income tax expense are: Current income tax: Current income tax (credit)/expense (324) 17,768 Current year losses moved to deferred tax asset 3,902 2,483 Current year utilisation of carried forward tax losses (1,386) (17,778) Adjustment in respect of current income tax expense of previous year (94) 78 State and local based taxes 310 2,225 Other 749 1,558 Deferred income tax: Relating to origination and reversal of temporary differences (1,261) 65,460 Adjustment in respect of deferred income tax of previous year 7,389 (2,054) Deferred tax on items not in current tax (1,553) – Reduction in deferred tax asset for loss utilisation 1,277 17,778 Current year losses moved to deferred tax asset (4,519) (8,820) Other (2,248) – Income tax expense reported in the Consolidated Statement of Comprehensive Income 2,242 78,698 Other comprehensive income – – Deferred income tax related to items charged or credited directly to equity Deferred tax associated with share-based payments – 229 Income tax expense reported in equity – 229 Notes to the Financial Statements continued 54 Omni Bridgeway
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Note 8: Income tax (continued) A reconciliation between income tax expense and the product of accounting loss before income multiplied by the Group’s applicable income tax rate is as follows: Consolidated 2026 2025 $'000 $'000 Accounting profit before tax 48,171 495,520 At the Group's statutory income tax rate of 30% 14,451 148,656 Adjustment in respect of income and deferred tax 6,171 3,793 Expenditure not allowable for income tax purposes 2,931 728 Permanent differences relating to Fund 9 transaction – 31,805 Other assessable income 3,266 – Non-assessable income (21,326) (106,481) Foreign tax rate adjustment (495) (3,181) State/Provincial income tax 310 2,225 Other (3,066) 1,153 Income tax expense reported in the Consolidated Statement of Comprehensive Income 2,242 78,698 Consolidated Statement of Financial Position Statement of Comprehensive Income 2026 2025 2026 2025 $'000 $'000 $'000 $'000 Deferred income tax at 30 June relates to the following: Deferred income tax liabilities Intangibles 15,858 17,542 1,685 14,436 Accrued interest & unrealised foreign exchange differences – 444 444 (444) Right-of-use assets 1,942 3,494 1,551 (1,946) Fund 9 transaction 75,281 93,662 18,381 (93,662) Other (953) (298) 655 4,951 Gross deferred income tax liabilities 92,128 114,843 22,716 (76,664) Offsetting deferred tax assets Accruals and Provisions – 56 (56) 56 Expenditure deductible for income tax over time 1,749 389 1,360 21 Leases 222 1,080 (858) 471 Net operating losses 3,471 4,303 (832) 1,685 Share based payments 156 216 (59) 75 Gross deferred tax assets 5,598 6,044 (445) 2,308 Net deferred tax liabilities 86,530 108,799 Annual Report 2026 55
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Note 8: Income tax (continued) Consolidated Statement of Financial Position Statement of Comprehensive Income 2026 2025 2026 2025 $'000 $'000 $'000 $'000 Deferred tax assets Accruals and provisions 1,532 9,706 (8,174) 975 Intangibles – 800 (800) 16 Intercompany – 2,278 (2,278) 47 Other (1,933) – (1,934) – Expenditure deductible for income tax over time 41,607 41,329 278 25,452 Share based payments 1,865 1,948 (83) 495 Leases 2,105 2,945 (841) 1,553 Net operating losses 48,610 56,196 (7,586) (14,873) Deferred tax assets 93,786 115,204 (21,418) 13,664 Net deferred income tax 853 (60,692) Deferred movements charged directly to net-asset-write off account in profit & loss – (10,694) Movements in foreign exchange 64 (979) Deferred tax expense 917 (72,364) Unrecognised temporary differences and tax losses At 30 June 2026, the Group had $19.0 million (2025: $20.8 million) of unused tax losses carried forward in its Canadian subsidiaries for which no deferred tax asset has been recognised. The Group also had $4.8 million of unused tax losses in it’s European subsidiaries for which no deferred tax asset has been recognised. Deferred tax assets relating to Australian operations The deferred tax assets balance includes $13.2 million (2025: $15.9 million) of assets relating to carried forward tax losses of the Omni Bridgeway Limited (OBL) tax consolidated group at 30 June 2026. The utilisation of these losses is considered probable, supported by the expectation of continued growth in recurring income streams and the deferred consideration associated with the Fund 9 transaction. Deferred tax assets relating to USA operations The deferred tax assets balance includes $34.6 million (2025: $39.4 million) of assets relating to carried forward tax losses of Omni Bridgeway Holdings (USA) Inc. Under current U.S. tax law, losses incurred prior to 1 July 2018 may be carried forward for up to 20 years and may fully offset taxable income. Losses generated from 1 July 2018 onwards may be carried forward indefinitely, although utilisation is generally limited to 80% of taxable income in any given year. The U.S. business has historically incurred tax losses, largely attributable to the expansion of its operating base to support strategic growth initiatives. These investments in people, systems and infrastructure were made in advance of expected investment activity, consistent with long-term plans. Based on approved budgets, existing fund commitments and business performance, it is probable that sufficient taxable income will be generated to utilise the available losses. The U.S. business has raised significant external capital over the past seven years through its Fund Structures. Fund 4, launched in 2019 with investor commitments of US$500 million (80% external), has an average investment life of 3-4 years. The income from the Fund 4 structure is expected to generate investment returns and management fee. Despite the Fund 9 transaction, the U.S. Group remains the legal holder of its limited partnership interest in Fund 4 and, as such, remains subject to tax on this income. Accordingly, the carried forward tax losses are expected to be recovered as and when the taxable income is realised from Fund 4. In addition to tax losses, deferred tax assets of $29.9 million (2025: $29.1 million) have been recognised in respect of the U.S. Group’s outside basis differences in its U.S. limited partnership and fund entities, principally the Fund 4 Series 1 partnerships and Omni Bridgeway (Fund 1) LLC. Although the Fund 4 Series 1 entities were deconsolidated for accounting purposes as part of the Fund 9 transaction, the U.S. Group retains its legal ownership interest. The deductible temporary difference arises because the tax basis of the interest exceeds its carrying amount in these fund entities and will unwind upon disposal or dissolution of the partnerships. As a result of the Fund 9 transaction in FY25, Omni Bridgeway Holdings (USA) Inc. has recognised deferred tax liabilities of $27.7 million, representing taxable temporary differences arising from the U.S. tax treatment of the transaction and the future revenue the US group will potentially generate from the provision of services to Fund 9. Notes to the Financial Statements continued 56 Omni Bridgeway
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Note 9: Profit per share Basic profit per share is calculated as net profit attributable to members of the Parent, adjusted to exclude any costs of servicing equity (other than dividends), divided by the weighted average number of ordinary shares outstanding during the financial year, adjusted for any bonus element. Diluted profit per share is calculated as net profit attributable to members of the Parent, adjusted for: • Costs of servicing equity (other than dividends); • The after-tax effect of interest dividends associated with dilutive potential ordinary shares that have been recognised; and • Other non-discretionary changes in revenue or expenses during the period that would result from dilution of potential ordinary shares; • Divided by the weighted average number of shares and dilutive shares, adjusted for any bonus element. At 30 June 2026, 8,604,441 performance rights (2025: 11,846,644) were on issue as detailed in Note 29. Upon meeting certain performance and service conditions, the vesting of each right will result in the issue of 1 ordinary share. The performance shares are contingently issuable and are not considered dilutive. The following reflects the income and share data used in the basic profit per share computation: a. Profit used in calculating profit per share Consolidated 2026 2025 $'000 $'000 For basic and diluted profit/(loss) per share Total net profit attributable to equity holders of the Parent 53,697 349,797 b. Weighted average number of shares 2026 2025 '000 '000 Weighted average number of ordinary shares outstanding 289,052 284,051 Effect of dilution: Performance rights 1,899 1,344 Weighted average number of ordinary shares 290,951 285,395 The weighted average number of ordinary shares outstanding includes performance rights granted under the Long-Term Incentive Plan which are only included in dilutive earnings per ordinary share where the performance hurdles are met as at period end and they do not have an anti-dilutive effect. There have been no transactions involving ordinary shares or potential ordinary shares that would significantly change the number of ordinary shares outstanding between the reporting date and the date of completion of these financial statements. Note 10: Dividends paid and proposed by Omni Bridgeway Limited (the parent entity) (a) Cash dividends on ordinary shares declared and paid There were no dividends declared or paid for the year ended 30 June 2026 (2025: nil cents per share). Omni Bridgeway Limited’s retained earnings and reserves are disclosed in Note 21. The Company considers all its capital management options in light of the cash position and performance of the Group at the time as well as the likely demand for cash over the ensuing 12-month period. In determining the appropriate mechanism to deliver returns to shareholders, the board will consider both semi-annual dividends and share buy-backs. Relevant considerations include the source and nature of income or surplus capital, the prevailing share price relative to the intrinsic value and the franking credit balance. The Company has a dividend reinvestment plan (DRP) that shareholders may elect to participate in. On appropriate occasions, the Company may arrange DRP underwriting to reduce the impact a particular dividend might otherwise have on the Group’s cash resources. (b) Franking credit balance 2026 2025 $'000 $'000 The amount of franking credits for the subsequent financial year are: Franking account balance at the end of previous financial year at 30% 5,903 5,903 Balance at 30 June 5,903 5,903 (c) Tax rates The tax rate at which paid dividends have been franked is 30% (2025: 30%). Annual Report 2026 57
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Note 11: Statement of cash flows reconciliation Reconciliation of net profit for the year to net cash flows used in operations: Consolidated 2026 2025 $'000 $'000 Net profit for the year 45,929 416,822 Adjustments for: Net impact of the reclassification of litigation investments - intangible assets related to cash flows from investing activities 11,697 (199,688) Fair value adjustments to financial instruments at fair value through profit and loss (61,920) (279,629) Amortisation of litigation investments - claims portfolio 35,073 22,718 Amortisation of contract costs 705 705 Depreciation 4,012 4,379 Share-based payments 3,097 5,460 Unrealised foreign exchange loss/(gain) 2,943 (15,111) Changes in assets and liabilities Decrease in receivables 22,839 66,526 Decrease in other assets and contract cost 1,458 6,207 Decrease in litigation investments - intangible assets 3,506 268,793 Decrease in litigation investments - claims portfolio 34,922 2,000 (Increase)/decrease in litigation investments – purchased claims (7,399) 33,859 Increase in litigation investments - financial assets (54,921) (404,421) (Increase)/decrease in net deferred tax assets (851) 60,920 Decrease in other liabilities (2,434) (10,286) Decrease in lease liabilities (3,140) (3,951) (Decrease)/increase in trade and other payables (22,518) 50,311 Decrease in provisions (27,624) (14,007) (Decrease)/increase in current income tax receivable/payable (3,717) 5,482 Net cash (used in)/from operating activities (18,343) 17,089 Disclosure of financing facilities Refer to Notes 18, 19 and 26. Changes in liabilities arising from financing activities Refer to Notes 19 and 26. Non-cash financing and investing financial liabilities include warrants, refer to Note 31. Notes to the Financial Statements continued 58 Omni Bridgeway
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B. LITIGATION INVESTMENTS AND GOODWILL Note 12: Litigation investments - claims portfolio (a) Recognition and measurement Litigation investments - claims portfolio assets consist of the capitalised costs incurred to purchase, obtain or fulfil a contract with a customer. These contracts with customers involve a vendor-customer relationship established in the contract. They comprise the litigation enforcement and recovery investment contracts and certain merits-based funding contracts. Costs incurred to obtain a contract are only capitalised to the investment when it is expected that a contract will be executed, and where those costs will be recoverable. The Group recognises an asset for costs incurred to fulfil a contract if those costs relate directly to the contract, the costs generate or enhance resources of the Group to satisfy performance obligations in the future and the costs are expected to be recovered. All capitalised contract costs are amortised to the profit or loss on a systematic basis that follows delivery of performance obligations to the customer. The delivery of performance obligations to the customer on the contracts are aligned with each individual dollar of recovery to the customer. The carrying value of the litigation investments - claims portfolio is measured at cost less amortisation and any impairment. At each reporting date an assessment is made on an individual investment by investment basis to determine if the carrying amount of a contract exceeds its recoverable amount. In order to determine the recoverable amount a probabilistic cashflow model is used which includes forecast revenues and expenses, together with an estimate of directly attributable overheads to complete the contract. If the carrying value exceeds the recoverable amount the difference is recognised as an impairment expense in the profit or loss. Reconciliation of carrying amounts Consolidated 2026 2025 $’000 $’000 Balance at 1 July 125,307 127,307 Additions 11,899 21,782 Reclassification (1,701) (3,303) Amortisation of carrying costs (35,073) (32,068) Impairment expense (3,221) (702) Foreign currency adjustment (6,826) 16,559 Deconsolidation - carrying amount in former subsidiaries – (4,268) Balance at 30 June 90,385 125,307 Note 13: Litigation investments - purchased claims (a) Recognition and measurement Litigation investments – purchased claims are litigation actions which have been acquired by the Group (except by business combination). They are classified as purchased credit-impaired financial assets which are initially recognised at fair value. The credit-adjusted effective interest rate on these financial assets is calculated taking into account the initial lifetime expected credit loss in the estimated cash flows. In determining the lifetime expected credit losses for these financial assets, the Group has taken into account the financial position of the counterparties, the legal environment in which the enforcement occurs, historical default experience and considering various external sources of actual and forecast information, as appropriate. Purchased claims are subsequently measured at amortised cost by applying the credit-adjusted effective interest rate. The Group recognises: i. Interest income through the application of the credit-adjusted effective interest rate to the amortised cost of the purchased claims; and ii. Impairment losses and gains, when material, due to the changes in estimated lifetime expected credit losses. At each reporting period, the Group reviews the estimated cash flows from purchased claims on an investment by investment basis, estimating the expected recovery, its timing and any other cashflows that may be attributable to the counterparties. The net present value of the cashflows are then determined using the credit-adjusted effective interest rate and the value compared to the carrying value. Where there is a material gain, this gain is recognised by adjusting the gross carrying amount of the receivable. Where there is a material loss, it is recognised as an impairment provision. Annual Report 2026 59
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Note 13: Litigation investments - purchased claims (continued) Reconciliation of carrying amounts Consolidated 2026 2025 $’000 $’000 Balance at 1 July 19,242 53,101 Interest revenue 8,068 8,408 Increase/(decrease) in carrying value reflected in deferred consideration 7,506 (8,783) Carrying value disposed (4,165) (22,404) Impairment loss (2,617) (1) Foreign currency adjustment (1,393) 4,150 Deconsolidation - carrying amount in former subsidiaries¹ – (15,229) Balance at 30 June 26,641 19,242 1. No deconsolidation transactions occurred in FY26. Comparative amounts relate to the Fund 9 deconsolidation disclosed in Note 35 of the FY25 Financial Report. At 30 June 2026, the fair value of the litigation investments - purchased claims amounted to $26.6 million (2025: $19.2 million) and the gross contractual amount was $50.2 million (2025: $61.9 million). Consolidated 2026 2025 $’000 $’000 Net gain on litigation investments - purchased claims Proceeds 5,206 31,510 Impairment gain/(loss) 4,525 (3,940) Carrying value disposed (4,165) (23,247) 5,566 4,323 Note 14: Litigation investments - intangible assets (a) Recognition and measurement Litigation investments involve funding provided to pursue an underlying litigation dispute that are not classified as purchased claims, claims portfolio or financial assets. They are recognised as intangible assets in the financial statements of the Group when they represent future economic benefits controlled by the Group. The Group is able to control the expected future economic benefit as the investment may be exchanged or sold. The litigation funding contract does not give rise to an unconditional right to receive cash. Rather, it provides the Group with a right to a share of litigation proceeds which may be in the form of cash or other non-financial assets. These litigation contracts are not considered contracts with customers as they are collaborative arrangements and there is no vendor- customer relationship established in the contract. Litigation investments – intangible assets are measured at cost on initial recognition. They are not amortised as the assets are not available for use until the determination of a judgment or settlement, withdrawal or sale, at which point the assets are realised through disposal. Gains or losses arising from derecognition are measured as the difference between the net disposal proceeds and the carrying amount of the asset at the time and are recognised in the profit or loss when the asset is derecognised. The following specific asset recognition and derecognition rules have been applied to litigation investments – intangible assets: (i) Ongoing litigation When the underlying litigation action is ongoing and pending a determination, the investments are carried at cost (subject to any provision for impairment). Initial and subsequent ongoing expenditure is capitalised when it meets all the following criteria: (a) the Group is able to demonstrate its ability to complete the litigation so that the asset will be available for use and the benefits embodied in the asset will be realised; (b) the Group retains control of the asset; Notes to the Financial Statements continued 60 Omni Bridgeway
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Note 14: Litigation investments - intangible assets (continued) (c) the Group can demonstrate that it intends to complete the litigation; (d) the Group is able demonstrate the availability of adequate technical, financial and other resources to complete the litigation; and (e) the Group can measure reliably the expenditure attributable to the intangible asset during the life of the litigation investments – intangible assets. Impairment is considered in line with the policy described in (b) below: (ii) Completion Where the underlying litigation has been finally determined or a settlement has been agreed, such that there is not considered to be a significant risk of reversal, this constitutes a disposal transaction, the carrying cost is derecognised and a gain or loss on disposal of the intangible asset is recognised in the Consolidated Statement of Comprehensive Income. Control of the intangible asset is considered to be transferred as follows: • For judgments, typically after a judgment has been determined and the relevant appeal periods have expired; • For settlements, typically when settlement agreement is reached and if relevant, court approval is obtained; and • For sales, typically when a binding agreement is executed. (iii) Partial completion Where litigation investments have been subject to a partial sale transaction, consideration has been agreed, such that there is not considered to be a significant risk of reversal and it is evident the litigation investment can be assessed at the respective percentage of interest level, this constitutes a disposal transaction and a gain or loss on disposal is recognised in the statement of comprehensive income. Control of the partial intangible asset is considered to be transferred as follows: • When the partial sale agreement is executed. Upon this date, the purchaser is considered to be able to direct the use of the interest and assume substantially all the remaining benefits of the interest. (iv) Appeal/enforcement If a funded client obtains an unsuccessful decision from the court, arbitration or tribunal and appeals against the judgment, where the investment and funding was undertaken by the Group with that as a central thesis, the investment may be considered to be ongoing with deployment capitalised to the investment. Where there was no such thesis, the investment is derecognised and future costs incurred in relation to the appeal are expensed as incurred. If a funded client obtains a successful decision from the court, arbitration or tribunal and has to subsequently undertake enforcement activities, where the investment and funding was undertaken with that as a central thesis, the investment may be considered to be ongoing with a delivery of a partial service obligation requiring partial derecognition of the investment and income recognition. Where there was not such a thesis, the investment is derecognised, with a receivable recognised and any future costs incurred in relation to the enforcement appeal are expensed as incurred. (v) Portfolio investments Upon completion of an underlying litigation within a portfolio, a corresponding portion of the intangibles carrying value is derecognised. The difference between the disposal proceeds received and the derecognised carrying value is recognised as a net gain or loss in the profit or loss. The remainder of the portfolio continues to be carried at cost (subject to usual impairment considerations) until the earlier of either the full return to the Group is obtained or each case within the portfolio has completed. Reconciliation of carrying amounts Consolidated 2026 2025 $’000 $’000 Balance at 1 July 65,483 334,276 Additions - external funding costs 17,649 90,528 Additions - capitalised overheads 3,969 25,645 Reclassification (2,260) (4,676) Derecognition - external expenditure (14,740) (35,084) Derecognition - capitalised overheads (100) (4,329) Net derecognition of purchase price adjustment arising from business combination (1,222) (8,794) Impairment expense (2,193) (1,156) Deconsolidation - carrying amount in former subsidiaries – (351,001) Effect of movement in foreign currency (4,609) 20,074 Balance at 30 June 61,977 65,483 Annual Report 2026 61
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Note 14: Litigation investments - intangible assets (continued) The carrying value includes external costs such as solicitors’ fees, counsels’ fees and experts’ fees funded by the Group, the capitalisation of certain directly attributable internal costs of managing the litigation funding investment, such as certain direct salaries and wages, occupancy costs, other out of pocket expenses and the capitalisation of borrowing costs as described below. The capitalised salaries and wages in 2026 equated to approximately 2.6% of the Group’s total salary and wages expense (2025: 14.8%). No other internal costs were capitalised in the current year (2025: 18.7%). The Group has determined that litigation investments – intangible assets meet the definition of qualifying assets and that all borrowing costs are eligible for capitalisation. The weighted average cost of borrowing was 7.9% (2025: 7.2%). The carrying value of litigation investments – intangible assets can be summarised as follows: Consolidated 2026 2025 $’000 $’000 External funding costs 60,343 63,405 Capitalised overheads 5,410 3,821 Gross carrying amount at cost 65,753 67,226 Accumulated impairment - Investments in progress (3,776) (1,743) Balance at 30 June 61,977 65,483 (b) Impairment testing of litigation investments – intangible assets Except for specific litigation investments – intangible assets that are subject to an unfavourable judgment or award, the recoverable amount of each of the litigation investments – intangible assets are assessed for impairment using a value-in-use methodology based on discounted cash flow (DCF) models. The DCF inputs are derived from management-approved budgets and/or investment manager forecasts and reflect probability-weighted outcomes. Key assumptions include expected cash inflows and outflows, scenario probabilities, and discounting, with sensitivity to the principal risks inherent in legal investments such as loss risk, duration risk, budget risk, quantum risk and recoverability (credit) risk. A discount rate of 12% is used, based on the weighted average cost of capital (WACC) for the legal finance asset class, which closely aligns with the WACC for OBL and with the hurdle rates for our third-party fund capital. All main investment risks associated with legal investments, including loss risk, duration risk, budget risk, quantum risk and credit risk are reflected in the probabilistic scenarios, and therefore fall outside the scope of risks determining the required discount rate. At 30 June 2026, 8 investments (2025: 10) across the portfolio recognised impairments, 5 of which totalled $3.7 million. Notes to the Financial Statements continued 62 Omni Bridgeway
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Note 15: Litigation investments - financial assets a) Recognition and measurement The litigation investments - financial assets are classified as financial assets at fair value through the profit or loss in accordance with IFRS 9 Financial Instruments. These investments are initially recognised at fair value plus any attributable transaction costs and are subsequently measured at fair value at each reporting date. Subsequent changes in fair value are recognised as fair value gains or losses to profit or loss, refer to Note 4. The determination of the fair value is designated as level 3 in the fair value hierarchy. Management judgment is required when calculating the fair value of the investments. Level 3 inputs are used in the fair value calculation and estimation of fair value is inherently uncertain. The Group’s litigation investments - financial assets were recognised for its equity or participation interests in the co-investments, including those residual or carried interests in former subsidiaries. The classification of assets was re-assessed when there was a change in the investment arrangements or changed fund structures that could affect the asset classifications under relevant accounting standards. i) Managed Investment Schemes (MISs) The Group previously held investments in MISs under Fund 5 Series I, representing a 20% participation interest. These investments were fully re-classified as litigation investments - intangible assets in prior periods and subsequently derecognised from the Group’s financial statements upon the completion of Fund 9 transaction. The Group’s residual interests in these investments are now accounted for as financial assets at fair value through profit and loss via Fund 9 and are not consolidated into the Group’s financial statements due to the absence of control. ii) Participation interests The Group has participation interests in various co-funded fund structures which are neither consolidated nor equity accounted for in the Group Consolidated Financial Statements, due to the absence of control or significant influence. These represent an unconditional right to receive cash and do not meet the solely payments of principal and interest (SPPI) criteria, and are therefore classified as financial assets at fair value through profit or loss (FVTPL). The Group holds 20% participation interests in the co-invested Funds 4/5 and Series II, and retained participation interests in Fund 9, which represent its residual interests in Funds 2&3, Funds 4/5 Series I as well as the entitlements on the one Balance Sheet Investment (Fund 9 Assets). These interests are recognised as the Group’s proportionate share of the fair value of underlying investments. iii) Residual interests These are the Group’s residual interests in deconsolidated funds under the Investment Management Agreements (IMAs). Following the Fund 9 transaction, the change of general partner, deconsolidation of the relevant funds, and assignment of its participation rights to a third party, required a re-assessment of the accounting treatment. The residual interests represent the Group’s contractual right to receive cash without future performance obligations. Accordingly, they are classified as litigation investments- financial assets at fair value through profit or loss. (b) Reconciliation of carrying amounts The following table reconciles the movements in recurring fair value measurements categorised within level 3 of the fair value hierarchy: Consolidated 2026 2025 $’000 $’000 Balance at 1 July 418,059 13,638 Additions 18,016 – Carried Interest/completions (6,493) – Disposals – (18,061) Fair value gain recognised in profit or loss¹ 61,920 422,482 Foreign currency adjustment (18,522) – Balance at 30 June 472,980 418,059 ¹ The FY26 amount is recognised within net gain on litigation investments – financial assets (refer to Note 4). The FY25 amount was recognised within net gain on litigation investments – financial assets and within net gain on disposal of subsidiaries and other assets, the latter arising on the initial recognition, at fair value, of the residual interests retained on completion of the Fund 9 transaction on 25 February 2025 (refer to Note 31). Annual Report 2026 63
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Note 16: Goodwill (a) Recognition and measurement Goodwill is initially measured at cost (being the excess of the aggregate of the consideration transferred and the amount recognised for non-controlling interests and any previous interest held over the fair value of the net identifiable assets acquired and liabilities assumed). Goodwill is subsequently measured at cost less any impairment. Goodwill arose on the acquisition of Omni Bridgeway Holding BV and its subsidiaries (collectively known as the OBE Group) accounted for as a business combination. For impairment purposes, goodwill has been solely allocated to the OBE Group, its related enforcement business and income generated by the OBE Group. The Group performs its annual impairment test on the goodwill associated with the OBE Group at 30 June each year. The impairment test performed on the OBE Group goodwill is done via a value-in-use calculation using the following inputs: i. Cashflows generated over a 5-year period from the OBE Group’s annual budget. The annual budget includes an estimation for all cashflows from operations of the OBE Group, including returns from investments and payments of overheads. The budget cashflows are sensitive to the timing and amount of investment completions. The investment completions refer to income earned from claims portfolio, purchased claims and intangible assets – litigation contracts in progress. The timing of completion and amount of investment income are based on the relevant investment manager’s best estimates during the Group’s annual budget process and are reviewed internally by management. The cashflows from investment completions have a compound annual growth rate of 8.4% (2025: 50.9%) over the cash flow period. This is reflective of the management’s estimate of the OBE Group’s expected future growth in business activity. The current year growth rate excludes new commitments in the underlying value-in-use calculation, reflecting a conservative approach. On a basis consistent with the prior year (including new commitments), the compound annual growth rate would be 41.3%. ii. Discount rate of 12.0% (2025: 12.0%). The discount rate represents the current assessment of the risks specific to OBE Group cash- generating unit (CGU), taking into consideration the time value of money and individual risks of the underlying OBE Group investment that have not been incorporated in the cash flow estimates. The discount rate was arrived at using the OBL’s weighted average cost of capital (WACC) as a starting base. iii. Terminal value growth rate applied is 3% (2025: 3%). No reasonably possible change in key assumption would result in the carrying amount of the CGU exceeding its recoverable amount. (b) Reconciliation of carrying amounts Consolidated 2026 2025 $’000 $’000 Balance at 1 July 112,910 100,885 Effect of movement in foreign currency (8,503) 12,025 Balance at 30 June 104,407 112,910 Notes to the Financial Statements continued 64 Omni Bridgeway
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C. CAPITAL STRUCTURE Note 17: Financial risk management The Group’s principal financial instruments comprise cash and short-term deposits, purchased claims, financial assets, receivables, payables, debt securities, lease liabilities and deferred consideration. The Group manages its exposure to key financial risks, including interest rate risk and currency risk in accordance with the Group’s financial risk management policy. The objective of the policy is to support the delivery of the Group’s financial targets whilst protecting its future financial security. The main risks arising from the Group’s financial instruments are interest rate risk, foreign currency risk, credit risk and liquidity risk. The Group uses different methods to measure and manage different types of risks to which it is exposed. These include monitoring levels of exposure to interest rates and currencies and assessments of market forecasts for interest rates and foreign currencies. Ageing analyses and monitoring of specific credit allowances are undertaken to manage credit risk. Liquidity risk is monitored through the development of future rolling cash flow forecasts. Risk exposures and responses Interest rate risk The Group’s exposure to the risk of changes in market interest rates relates primarily to the Group’s cash holdings with a floating interest rate. The Group has no borrowings subject to a variable interest rate as at 30 June 2026. The borrowings relate to the Fund 8 debt facility at a fixed rate, and as such, not subject to risk exposure. Refer to Note 19 for further details. At reporting date, the Group had the following financial instruments exposed mainly to Australian variable interest rate risk: Consolidated 2026 2025 $’000 $’000 Financial instruments Cash and cash equivalents 158,607 180,289 Net exposure 158,607 180,289 The Group regularly analyses its interest rate exposure. Within this analysis, consideration is given to expected interest rate movements and the Group’s future cash requirements, potential renewals of existing positions, alternative financing available, and the mix of fixed and variable interest rates. Credit risk Credit risk arises from the financial assets of the Group, which comprises cash and cash equivalents, purchased claims and receivables from litigation contracts and other. The Group’s exposure to credit risk arises from potential default of the counterparty, with a maximum exposure equal to the carrying amount of these instruments. Exposure at reporting date is addressed in each applicable note. Apart from ratings on cash held and litigation contract receivables, as detailed below, the remainder of the Group’s receivables typically do not carry a credit risk rating from a ratings agency. To mitigate credit risk on litigation contract receivables the Group assesses the defendants in the investments funded by the Group prior to entering into any agreement to provide funding and continues this assessment during the course of funding. Wherever possible, the Group ensures that security for settlement sums is provided, usually with the settlement funds placed into solicitors’ trust accounts. The Group’s continual monitoring of the defendants’ financial capacity mitigates this risk. To mitigate credit risk on purchased claims, the Group assesses the defendants in the investments funded by the Group prior to purchasing the claim. The Group’s continual monitoring of the defendants’ financial capacity mitigates this risk. To mitigate credit risk on cash and cash equivalents, the Group holds over 99.0% (2025: 99.2%) of its cash with Australian, American, Canadian, European and Singaporean AA rated banks. Refer to each financial asset’s respective note for information on how impairment and credit loss is determined. Equity price risk The variable deferred consideration was finalised in FY25, and therefore does not represent any further risk. Liquidity risk The liquidity position of the Group is managed to ensure sufficient liquid funds are available to meet the Group’s expected financial commitments in a timely and cost-effective manner. Management continually reviews the Group’s liquidity position, including the preparation of cash flow forecasts, to determine the forecast liquidity position and to maintain appropriate liquidity levels. All financial liabilities of the Group, except the consideration liabilities and non-current lease liabilities, are current and payable within 30 days. Annual Report 2026 65
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Note 17: Financial risk management (continued) The maturity profile of the Group’s financial liabilities based on contractual maturity on an undiscounted basis are set out below. < 6 months 6-12 months 1-5 years >5 years Total $'000 $'000 $'000 $'000 $'000 2026 Financial Liabilities Trade and other payables 92,238 – – – 92,238 Lease liabilities 1,540 1,541 6,437 373 9,891 Deferred consideration - Insurance 949 – 811 – 1,760 Financial liabilities - warrants – 29,462 – – 29,462 94,727 31,003 7,248 373 133,351 2025 Financial Liabilities Trade and other payables 114,756 – – – 114,756 Lease liabilities 1,930 1,930 7,614 1,557 13,031 Deferred consideration - Insurance 1,030 – 1,674 – 2,704 Financial liabilities - warrants – – 22,869 – 22,869 117,716 1,930 32,157 1,557 153,360 The Group has borrowings relating to the Fund 8 facility, which has recourse to insurance, the investment assets of Fund 8 and the capped standby equity commitment from the Group. Fair value (a) Fair values hierarchy The methods for estimating fair value are outlined in the relevant notes to the financial statements. The carrying amounts of financial assets and liabilities of the Group carried at amortised cost approximate their fair values. For the purposes of disclosure, the fair value measurements used for all assets and liabilities below are level 3. Carrying Value Fair Value 2026 2025 2026 2025 $’000 $’000 $’000 $’000 Financial assets Trade and other receivables (Refer to Note 22) 78,284 101,123 78,284 101,123 Litigation investments - purchased claims (Refer to Note 13) 26,641 19,242 26,641 19,242 Litigation investments - financial assets (Refer to Note 15) 472,980 418,059 472,980 418,059 Other assets/security deposits 1,057 1,052 1,057 1,052 578,962 539,476 578,962 539,476 Financial liabilities Trade and other payables (Refer to Note 24) 92,238 114,756 92,238 114,756 Borrowings (Refer to Note 19) 35,395 19,500 35,395 19,500 Deferred consideration - insurance 1,760 2,704 1,760 2,704 129,393 136,960 129,393 136,960 The fair value movements in relation to litigation investments - financial assets were recognised in the Group’s Consolidated Statement of Comprehensive Income, refer to Note 4 for further details. (b) Fair value measurement using significant unobservable inputs (level 3) Refer to Note 15(b) and 31 for movements in the Group’s financial assets and financial liabilities measured at Level 3 fair value. (c) Valuation process The finance department of the Group includes a team that performs the valuations of financial instruments required for financial reporting purposes, using level 3 fair values. This team reports directly to the chief executive officer (CEO). Valuation methodologies, significant inputs and results are approved by the valuation committee (VC) and are periodically reviewed by the Audit and Risk Committee (ARC). Meetings between the VC, the CEO, and the valuation team occur at least once every six months, in line with the Group’s half-yearly reporting periods. (d) Valuation inputs to fair value The significant inputs and assumptions used in the fair value measurements of litigation investments - financial assets, categorised within Level 3 of the fair value hierarchy, together with a quantitative sensitivity analysis at 30 June 2026 are shown below: Notes to the Financial Statements continued 66 Omni Bridgeway
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Note 17: Financial risk management (continued) Item Valuation technique Significant unobservable inputs Input Sensitivity of the input to fair value Litigation investments - financial assets Weighted average based on Monte Carlo Model Discount rate 7% to 17%¹ Increasing the discount rate by 500 basis points would result in a change in fair value of ($76.5) million. Decreasing the discount rate by 500 points would result in a change in fair value of $79.9 million. Income 10% +/- If expected cash inflows were 10% higher, the fair value would increase by $83.4 million. If expected cash inflows were 10% lower, the fair value would decrease by $98.3 million. ¹ A discount rate of 12% is applied in the valuation of all litigation investments - financial assets. The range disclosed reflects the discount rate applied in the sensitivity assessment. Foreign currency risk The Group operates internationally and is exposed to foreign exchange risk arising from various currency exposures, primarily with respect to the Euro, United States Dollar and Great British Pound. Foreign exchange risk arises from commercial transactions and recognised assets and liabilities denominated in a currency that is not the functional currency in which they are measured. The risk is monitored using sensitivity analysis and cash flow forecasting. The Group is also exposed to foreign exchange translation risk arising from its foreign operations. The Group’s investments in its subsidiaries are not hedged as those currency positions are considered to be long- term in nature. In addition, the parent entity has intercompany receivables from its subsidiaries denominated in Australian Dollars which are eliminated on consolidation. The gains or losses on re-measurement of these intercompany receivables from foreign currencies to Australian Dollars are not eliminated on consolidation as the loans are not considered to be part of the net investment in the subsidiary. The Group’s exposure to foreign currency risk at 30 June was as follows: AUD USD GBP EUR SGD CAD HKD CHF AED JPY NZD SAR CNY MAD SEK 2026 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 Financial Assets Cash and cash equivalents 4,074 44,319 703 51,262 571 1,355 29 409 342 – 51 204 – 5,244 – Trade receivables¹ 115 6,126 26,324 7,117 – – – 1 – – – 204 – – – Intercompany loan receivable (29,415) 757 – 6,348 14,332 – – – – 1,548 – – – – Total assets 4,189 21,030 27,784 58,379 6,919 15,687 29 410 342 – 1,599 408 – 5,244 – Financial Liabilities Trade payables 30,281 6,767 218 7,422 36 3,808 – 7,456 – – (7) – – – – Total liabilities 30,281 6,767 218 7,422 36 3,808 – 7,456 – – (7) – – – – AUD USD GBP EUR SGD CAD HKD CHF AED JPY NZD SAR CNY MAD SEK 2025 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 Financial Assets Cash and cash equivalents 25 19,667 5 9,424 8 47 279 – 31 12 – 203 1 20,795 – Trade receivables¹ 446 39,745 26,246 25,963 5 16,463 – – – – 3 – – – – Intercompany loan receivable – (56,320) 194 – 3,188 – – – – – 978 – – – – Total assets 471 3,092 26,445 35,387 3,201 16,510 279 – 31 12 981 203 1 20,795 – Financial Liabilities Trade payables (9,188) 8,229 3,403 13,798 70 135 12,906 136 42 – 1 – – 161 32 Total liabilities (9,188) 8,229 3,403 13,798 70 135 12,906 136 42 – 1 – – 161 32 1. Receivables includes intercompany loan, trade receivable and payable. The Group’s exposure to foreign currency risk on cash and cash equivalents primarily relates to foreign cash holdings within the parent entity. The USD foreign currency risk for receivables is predominantly due to the Group’s AUD and Euro denominated subsidiaries which have USD receivables. Annual Report 2026 67
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Note 17: Financial risk management (continued) Sensitivity The following table summarises the sensitivity of financial instruments held at balance date to movement in the exchange rate of the subsidiary’s functional currency to the listed currencies, with all other variables held constant. The sensitivity is based on management’s estimate of reasonable possible changes over the financial year. Impact on profit or loss before tax ($’000) AUD USD GBP EUR SGD CAD HKD CHF AED JPY NZD SAR CNY MAD SEK 30 June 2026 +10% – (2,072) (5,309) (8,455) (774) (1,215) (1) 1,267 (14) – (132) (16) – (81) – (10%) – 2,072 5,309 8,455 774 1,215 1 (1,267) 14 – 132 16 – 81 – 30 June 2025 +10% – 786 (4,840) (3,874) (376) (1,829) 246 26 – – (91) (8) – (349) – (10%) – (786) 4,840 3,874 376 1,829 (246) (26) – – 91 8 – 349 – Note 18: Cash and cash equivalents Cash and cash equivalents in the Consolidated Statement of Financial Position and Consolidated Statement of Cash Flows comprise cash at bank and on hand, and short-term deposits with an original maturity of three months or less that are readily convertible to known amounts of cash on hand and which are subject to an insignificant risk of changes in value. Consolidated 2026 2025 $’000 $’000 Cash at bank 157,453 171,009 Short-term deposits 1,154 9,280 Balance at 30 June 158,607 180,289 Cash at bank earns interest at floating rates based on daily bank deposit rates. The carrying amounts of cash and cash equivalents represent fair value. Of the cash at bank, $59.8 million (2025: $90.9 million) is restricted, given it is held with Stichting. The Stichting vehicles were founded as a separate, independent foundation to ensure the cash flows related to the claims were secured. Short-term deposits are made for varying periods depending on the immediate cash requirements of the Group. At 30 June 2026, all short-term deposits are due to mature in less than 90 days from inception and earn interest at the respective short-term deposit rates. Bank Guarantees Bank guarantees have been issued by the Group’s bankers as security for leases over premises. At 30 June 2026, guarantees of $1.3 million were outstanding (2025: $1.8 million). The Group has a total guarantee facility limit of $1.3 million (2025: $1.8 million) that is secured by an offset arrangement with deposits of $1.3 million (2025: $1.6 million). Note 19: Borrowings All loans and borrowings are initially recognised at fair value, net of directly attributable transaction costs. Subsequent to initial recognition, interest-bearing loans and borrowings are measured at amortised cost using the effective interest rate method. Borrowings relate to Fund 8 debt capital, of which the capital loss is insured pursuant to a principal protection insurance indemnity. As of 30 June 2026, $38.2 million had been drawn down under the Fund 8 facility (2025: $21.0 million). Consolidated 2026 2025 $’000 $’000 Non-current Borrowings 35,395 19,500 Balance at 30 June 35,395 19,500 Notes to the Financial Statements continued 68 Omni Bridgeway
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Note 19: Borrowings (continued) Cash and non-cash movements in borrowings are shown below: Consolidated 2026 2025 $’000 $’000 Balance at 1 July 19,500 254,813 Proceeds from issue of borrowings 19,003 5,925 Repayment of debt facility (1,919) (250,000) Recognition of capitalised borrowing costs (237) 10,511 Amortisation/(derecognition) of capitalised borrowing costs 517 (3,547) Foreign exchange (1,469) 1,798 Balance at 30 June 35,395 19,500 The application of IAS 23 Borrowing Costs (revised 2007) has resulted in the capitalisation of interest and borrowing cost amounting to $4.9 million (2025: $19.2 million) during the current financial year as part of the litigation investments which are deemed to be qualifying assets post the application date of IAS 23 (revised) 1 July 2009 (refer to Note 14). Note 20: Contributed equity (a) Ordinary shares Ordinary shares are classified as equity. Issued and paid up capital is recognised at the fair value of the consideration received by the Company. 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. There is no par value of ordinary shares. Fully paid ordinary shares carry one vote per share and the right to dividends. Consolidated 2026 2025 $’000 $’000 Contributed equity Issued and fully paid ordinary shares 484,864 475,717 Number ’000 $’000 Movement in ordinary shares At 1 July 2024 282,545 460,716 Shares issued during the year (deferred and variable deferred consideration - business combination) 5,214 7,898 Shares issued upon exercise of performance rights (Note 29) 674 7,103 At 30 June 2025 288,433 475,717 Shares issued upon exercise of performance rights 1,209 9,147 At 30 June 2026 289,642 484,864 (b) Performance rights At 30 June 2026, there were 8,604,441 unissued ordinary shares in respect of which share performance rights have been issued but not vested (2025: 11,846,644). Refer to Note 29. (c) Capital management Capital includes debt, lease liabilities and equity attributable to the equity holders of the Parent. When managing capital, management’s objective is to ensure the Group continues as a going concern while maintaining optimal returns to shareholders and benefits for other stakeholders. Management also aims to maintain a capital structure that ensures the lowest cost of capital available to the Group. The Group’s earnings often vary dramatically, and this is expected to continue in the future. Management’s policy is to pay dividends to shareholders from earnings where there is capital surplus to the needs of the business. The Group is not subject to any externally imposed capital requirements. The Parent’s retained earnings/(accumulated losses) are disclosed in Note 30. Annual Report 2026 69
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Note 21: Retained earnings/(accumulated losses) and reserves Movements in retained earnings/(accumulated losses) were as follows: Consolidated 2026 2025 $’000 $’000 Balance at 1 July 143,134 (206,663) Net profit for the year 53,697 349,797 Balance at 30 June 196,831 143,134 (a) Movements in reserves were as follows: Share-based payment reserve Foreign currency translation reserve Other equity reserve Fund equity reserve Total reserves $’000 $’000 $’000 $’000 $’000 Balance at 1 July 2024 18,121 (14,516) 7,236 (14,172) (3,331) Movements in reserves during the year (1,684) 40,577 – 14,172 53,065 Balance at 30 June 2025 16,437 26,061 7,236 – 49,734 Movements in reserves during the year (6,047) (48,745) – – (54,792) Balance at 30 June 2026 10,390 (22,684) 7,236 – (5,058) (b) Nature and purpose of reserves i. Share-based payment reserve The share-based payment reserve is used to recognise the value of equity-settled share-based payments provided to employees, including key management personnel as part of their remuneration. Refer to Note 29 for further details of this plan. ii. Foreign currency translation reserve This reserve is used to record differences on the translation of the assets and liabilities of foreign operations. iii. Other equity reserve Other equity reserve includes: • Option premium reserve - This reserve was used to record the value of equity benefits provided to employees and directors, including Key Management Personnel, as part of their remuneration. This reserve relates to the previous plan for options already vested. • Convertible note reserve - This reserve was used to record the equity portion on the convertible notes (issued on 13 December 2010), which were fully redeemed by the Company during December 2013. iv. Fund equity reserve This reserve is used to record changes in the proportion of equity held by non-controlling interests within the Group. Notes to the Financial Statements continued 70 Omni Bridgeway
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D. WORKING CAPITAL, OTHER ASSETS AND OTHER LIABILITIES Note 22: Trade and other receivables Receivables are recognised initially at fair value and subsequently remeasured at amortised cost using the effective interest rate method, less an allowance for any uncollectible amounts. Receivables due from the completion of litigation investments are recognised upon various stages of completion of the underlying litigation in conjunction with the income recognition criteria of each investment. Collectability is reviewed on an ongoing basis and at each reporting period. The Group recognises an allowance for expected credit losses (ECLs) for all receivables based on the difference between the contractual cash flows due and all the cash flows that the Group expects to receive, discounted at an approximation of the original effective interest rate. ECLs are recognised in two stages. For credit exposures for which there has not been a significant increase in credit risk since initial recognition, ECLs are provided for credit losses that result from default events that are possible within the next 12-months (a 12-month ECL). For those credit exposures for which there has been a significant increase in credit risk since initial recognition, a loss allowance is required for credit losses expected over the remaining life of the exposure, irrespective of the timing of the default (a lifetime ECL). At 30 June 2026, the value of the ECL allowance is $1.7 million (2025: $0.04 million). Other receivables comprise interest receivable upon the maturity of the Group’s short-term deposits (between 30 and 90 days), receivables from co-funders of litigation contracts in progress, short term loans and deposits receivable. Consolidated 2026 2025 $’000 $’000 Current Receivables due from the completion of litigation investments 53,088 61,918 Other receivables 8,272 21,185 61,360 83,103 Non-current Receivables due from the completion of litigation investments 16,924 18,012 Other receivables – 8 16,924 18,020 Total 78,284 101,123 (a) Fair value and credit risk Due to the nature of these receivables, the carrying value of the current receivables approximates its fair value. The maximum exposure to credit risk is the carrying value of receivables. It is not the Group’s policy to transfer (on-sell) receivables. Note 23: Right-of-use assets and other plant and equipment Plant and Equipment Plant and equipment is stated at historical cost less accumulated depreciation and impairment. Such cost includes the cost of replacing parts that are eligible for capitalisation when the cost of replacing parts is incurred. All other repairs and maintenance are recognised in the profit or loss as incurred. Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets. The major categories of plant and equipment are depreciated as follows: • Equipment 2 to 5 years; • Furniture 2 to 6 years; • Leasehold 2 to 11 years; and • Right-of-use 3 to 10 years. The assets’ residual values, useful lives and amortisation methods are reviewed, and adjusted if appropriate, at each financial year end. An item of plant and equipment is derecognised upon disposal or when no further future economic benefits are expected from its use or disposal. Right-of-use assets The Group recognises right-of-use assets at the commencement date of the lease (i.e. the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognised (Refer to Note 26), initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Unless the Group is reasonably certain to obtain ownership of the leased asset at the end of the lease term, the recognised right-of-use assets are depreciated on a straight-line basis over the shorter of its estimated useful life and the lease term. Right-of-use assets are subject to impairment indicator assessments. Annual Report 2026 71
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Note 23: Right-of-use assets and other plant and equipment (continued) Consolidated 2026 2025 $’000 $’000 Gross carrying amount - at cost 26,741 30,358 Accumulated depreciation (17,987) (18,131) Net carrying amount 8,754 12,227 Reconciliation of carrying amounts at the beginning and end of the year Equipment Furniture, fixtures and fittings Leasehold improvements Right-of-use assets Total $'000 $'000 $'000 $'000 $'000 Gross carrying amount Balance at 1 July 2024 1,502 1,165 1,295 27,256 31,218 Additions (453) (44) (980) (1,477) Disposals 283 (17) (240) (717) (691) Effect of movement in foreign currency 69 77 20 1,142 1,308 Balance at 30 June 2025 1,401 1,181 1,075 26,701 30,358 Additions 86 26 195 935 1,242 Disposals (321) (36) 24 (4,689) (5,022) Effect of movement in foreign currency (57) (76) 2 294 163 Balance at 30 June 2026 1,109 1,096 1,295 23,241 26,741 Accumulated depreciation Balance at 1 July 2024 1,026 849 760 11,937 14,572 Depreciation charge for the year (270) 84 (31) 2,874 2,657 Disposals 286 (16) – – 270 Effect of movement in foreign currency 41 49 18 523 631 Balance at 30 June 2025 1,083 966 747 15,334 18,131 Depreciation charge for the year 169 73 210 3,560 4,012 Disposals (283) (21) 218 (3,172) (3,258) Effect of movement in foreign currency (43) (60) 5 (797) (896) Balance at 30 June 2026 926 957 1,179 14,925 17,987 Refer to Note 26 for further information on right-of-use assets and their associated leases. Note 24: Trade and other payables Trade payables, other payables and accruals are carried at amortised cost. Due to their short-term nature they are not discounted. They represent liabilities for goods and services provided to the Group or liabilities to provide funding in relation to a litigation investment to the end of the financial year that are unpaid and arise when the Group becomes obliged to make future payments in respect of the purchase of these goods and services or deployment against investment commitments. The amounts are unsecured, non-interest bearing and are usually paid within 30 days of recognition. Consolidated 2026 2025 $'000 $'000 Trade payables 26,765 20,504 Distributable funds to other parties from completed matters 62,116 88,661 Unearned revenue (Refer to Note 2) 565 611 Wage accruals 537 595 Interest accruals 2,255 4,385 Balance at 30 June 92,238 114,756 Fair Value Due to the nature of trade and other payables, their carrying value approximates their fair value. Notes to the Financial Statements continued 72 Omni Bridgeway
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Note 25: Provisions General provisions Provisions are recognised when the Group has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. Provisions are measured at the present value of management’s best estimate of the expenditure required to settle the present obligation at the balance date. If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects the time value of money and the risks specific to the liability. The increase in the provision resulting from the passage of time is recognised in finance costs. Refer to Notes 12 - 15 in respect to litigation investment impairment provisions. Employee benefits Provision is made for employee benefits accumulated as a result of employees rendering services up to the end of the reporting period. These benefits include wages, salaries, annual leave, long service leave and bonuses. Liabilities in respect of employees’ services rendered that are not expected to be wholly settled within one year after the end of the periods in which the employees render the related services are recognised as long-term employee benefits. These liabilities are measured at the present value of the estimated future cash outflow to be made to the employees using the projected unit credit method. Liabilities expected to be wholly settled within one year after the end of the period in which the employees render the related services are classified as short-term benefits and are measured at the amount due to be paid. Consolidated 2026 2025 $’000 $’000 Current Annual leave and vested long service leave 3,850 3,652 Litigation investments - adverse costs 533 28,423 4,383 32,075 Non-current Premises lease make good 617 629 Long service leave 435 355 1,052 984 Total 5,435 33,059 Annual Report 2026 73
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Note 25: Provisions (continued) (a) Movement in provisions Litigation investments - adverse costs Annual leave Long service leave Premises lease make good Total $'000 $'000 $'000 $'000 $'000 Balance at 1 July 2024 41,581 3,657 1,206 622 47,066 Arising during the year 2,968 4,085 74 – 7,127 Utilised (320) (4,646) (446) – (5,412) Deconsolidation of subsidiaries (15,851) – – – (15,851) Effect of movement in foreign currency 44 78 – 7 129 Balance at 30 June 2025 28,422 3,174 834 629 33,059 Arising during the year 8 3,533 185 – 3,726 Utilised (28,102) (3,289) (28) – (31,419) Effect of movement in foreign currency 205 (124) – (12) 69 Balance at 30 June 2026 533 3,294 991 617 5,435 (b) Nature and timing of provisions Litigation investments – adverse costs The Group raises a provision for adverse costs upon receipt of a losing judgment in jurisdictions that require adverse costs to be paid to the litigation’s counterparty. Refer to Notes 7 and 27 for further details on adverse costs. At 30 June 2026, the Group had an adverse costs provision of $0.5 million (2025: $28.4 million). $0.1 million of adverse costs have been expensed in FY26. Premises lease make good The make good provision relates to amounts recognised for make good requirements on leases of office space. Note 26: Lease liabilities The Group has lease contracts for rental property. These leases generally have lease terms between 3 and 10 years. The Group’s obligations under its leases are secured by the lessor’s title to the leased assets. Generally, the Group is restricted from assigning and subleasing the leased assets. There are several lease contracts that include extension and termination options and variable lease payments, which are further discussed below. The Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Group as lessee Lease liabilities At the commencement date of the lease, the Group recognises lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including in-substance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Group and payments of penalties for terminating a lease, if the lease term reflects the Group exercising the option to terminate. In calculating the present value of lease payments, the Group uses the incremental borrowing rate at the lease commencement date if the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the in-substance fixed lease payments or a change in the assessment to purchase the underlying asset. Short-term leases and leases of low-value assets The Group applies the short-term lease recognition exemption to its short-term leases of machinery and equipment (i.e. those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the lease of low-value assets recognition exemption to leases of office equipment that are considered of low value. Lease payments on short-term leases and leases of low-value assets are recognised as expense on a straight-line basis over the lease term. Notes to the Financial Statements continued 74 Omni Bridgeway
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Note 26: Lease liabilities (continued) Set out below are the carrying amounts of lease liabilities and the movements during the year: Consolidated 2026 2025 $’000 $’000 Balance at 1 July 13,031 16,982 Additions 1,280 – Terminations (231) – Accretion of interest 762 1,015 Payments (4,349) (5,376) Effects of movement in foreign currency (602) 410 Balance at 30 June 9,891 13,031 Current 3,081 3,860 Non-current 6,810 9,171 9,891 13,031 The following are the amounts recognised in profit or loss: Consolidated 2026 2025 $’000 $’000 Depreciation expense on right-of-use assets 3,560 2,874 Interest expense on lease liabilities (included in finance costs) (Note 7(a)) 762 1,015 Expense relating to short-term leases – 1 Expenses relating to leases of low-value assets (included in corporate and office expense) 107 195 Total amount recognised in profit or loss 4,429 4,086 The Group had total cash outflows for leases of $4.46 million in 2026 (2025: $5.6 million). The Group has several lease contracts that include extension and termination options. These options are negotiated by management to provide flexibility in managing the leased-asset portfolio and align with the Group’s business needs. Management exercises significant judgment in determining whether these extension and termination options are reasonably certain to be exercised. Note 27: Commitments and contingencies Capital commitments The Company has $290.8 million (2025: $218.2 million) in aggregate Investor Capital commitments to its Funds under management, of which $186.2 million is undrawn at 30 June 2026 (2025: $128.9 million). The Company's commitment to Funds 2&3, 4.1 and F5.1 is via its residual interest in Fund 9. Remuneration commitments Consolidated 2026 2025 $'000 $'000 Commitments for the payment of salaries and other remuneration under long-term employment contracts in existence at the reporting date but not recognised as liabilities payable: Within one year 2,759 3,220 After one year but no more than five years – – 2,759 3,220 Amounts disclosed as remuneration commitments also include commitments arising from the service contracts of, and bonuses payable to, directors and executives referred to in the Remuneration Report of the Directors’ Report that are not recognised as liabilities and are not included in the compensation of Key Management Personnel. Annual Report 2026 75
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E. THE GROUP, MANAGEMENT AND RELATED PARTIES Note 28: Key management personnel Details of key management personnel There were no changes to Key Management Personnel after the reporting date and before the date the financial report was authorised for issue. Compensation of key management personnel Consolidated 2026 2025 $’000 $’000 Short-term employee benefits 2,598 3,038 Post-employment benefits 161 145 Long-term employee benefits 42 190 Termination payments – 89 Share-based payments 1,001 407 3,802 3,869 Note 29: Share-based payment plan Share-based payment transactions (i) Equity-settled transactions The Company’s LTIP awards share performance rights to key senior employees. The cost of equity-settled transactions with employees is measured by reference to the fair value of the equity instruments at the date at which they are granted. The fair value is determined using a Monte Carlo or Black-Scholes Model depending on the type of LTIP. In valuing equity-settled transactions, no account is taken of any vesting conditions, other than conditions linked to the price of the shares of OBL (i.e. market conditions) if applicable. The cost of equity-settled transactions is recognised, together with a corresponding increase in the share-based payment reserve, over the period in which the performance and/or service conditions are fulfilled (the vesting period), ending on the date on which the relevant employees become fully entitled to the award (the vesting date). The charge to the profit or loss for the period is the cumulative amount as calculated above less the amounts already charged in previous periods. There is a corresponding credit to equity. Equity-settled awards granted by OBL to employees of subsidiaries are recognised in the Parent’s separate financial statements as an additional investment in the subsidiary with a corresponding credit to equity. These amounts are eliminated through consolidation. As a result, the expenses recognised by the Company in relation to equity-settled awards only represents the expense associated with grants to employees of the Parent. The expense recognised by the Group is the total expense associated with all such awards. Until an award has vested, any amounts recorded are contingent and will be adjusted if more or fewer awards vest than were originally anticipated to do so. Any award subject to a market condition is considered to vest irrespective of whether or not that market condition is fulfilled, provided that all other conditions are satisfied. If the terms of an equity-settled award are modified, as a minimum an expense is recognised as if the terms had not been modified. An additional expense is recognised for any modification that increases the total fair value of the share-based payment arrangement, or is otherwise beneficial to the employee, as measured at the date of modification. If an equity-settled award is cancelled, it is treated as if it had vested on the date of cancellation, and an expense not yet recognised for the award is recognised immediately. However, if a new award is substituted for the cancelled award and designated as a replacement award on the date that it is granted, the cancelled and new award are treated as if they were a modification of the original award, as described in the previous paragraph. Where outstanding rights do not have an anti-dilutive effect and are currently meeting the performance criteria, the dilutive effect, if any, is added to share dilution in the computation of diluted earnings per share. (ii) Cash-settled transactions The Group does not provide cash-settled share-based benefits to employees or senior executives. Long Term Incentive Plan LTIP awards are delivered in the form of performance rights over shares which vest after a period of three years subject to meeting performance measures. The Group uses relative TSR of Funds Deployed as the performance measures. LTIP is subject to the relative TSR performance measure, the fair value of share performance rights granted is estimated at the date of grant using a Monte-Carlo simulation model, taking into account the terms and conditions upon which the share performance rights were granted. Notes to the Financial Statements continued 76 Omni Bridgeway
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Note 29: Share-based payment plan (continued) Performance Rights On 26 June 2026, 2,041,859 share performance rights were approved by the Board under the long term incentive plan, reflecting the retrospective FY25 LTIP offer. The grant date fair value of the performance rights is set out below: Valuation date 19 November 2024 Number of rights granted 2,041,859 Share price at valuation date $1.043 Exercise price Nil Expected Volatility (%) 50% Dividend yield (%) 0% Risk-free rate (%) 4.11% Performance period 3 years ending 30 June 2027 Models used Monte Carlo & Black-Scholes Relative TSR (value per right $) $0.530 The expense recognised for share-based payments during the year is shown below: Consolidated 2026 2025 $’000 $’000 Share-based payments expense (Note 7(d)) 3,097 4,152 The following table illustrates the number and weighted average exercise prices (WAEP) of, and movements in, share performance rights during the year: 2026 2026 2025 2025 Number WAEP Number WAEP Movements during the year Outstanding at 1 July 11,846,644 – 15,786,422 – Granted 49,038 – 428,870 – Exercised (2,336,790) – (588,430) – Forfeited (954,451) – (3,780,218) – Outstanding at 30 June 8,604,441 – 11,846,644 – Exercisable at 30 June 2,528,366 – 1,001,617 – Annual Report 2026 77
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Note 30: Parent entity information 2026 2025 $’000 $’000 Information relating to Omni Bridgeway Limited: Current assets 127,565 96,499 Total assets 432,792 458,569 Current liabilities (80,276) (56,161) Total liabilities (89,210) (109,069) Net assets 343,582 349,500 Issued capital 485,206 476,058 Accumulated losses (158,746) (149,426) Reserves 17,122 22,868 Total shareholders' equity 343,582 349,500 (Loss)/profit of the Parent (9,319) 408 Total comprehensive (loss)/income of the Parent (9,319) 408 Details of the contractual commitments and contingent liabilities of the Parent are contained in Note 27. The consolidated financial statements include the financial statements of OBL and the subsidiaries listed in the following table: Name Country of Incorporation Percentage owned 2026 2025 % % Group Subsidiaries Omni Bridgeway Capital (Canada) Limited Canada 100 100 Lien Finance Canada Limited Canada 100 100 Omni Bridgeway Holdings (USA) Inc USA 100 100 Security Finance (Fund 4) LLC USA 100 100 Omni Bridgeway Management (USA) LLC USA 100 100 Omni Bridgeway (USA) LLC USA 100 100 Security Finance LLC (USA) USA 100 100 Omni Bridgeway Holdings (Fund 1) LLC USA 100 100 Crestwood I LLC USA 100 100 Omni Bridgeway (UK) Limited United Kingdom 100 100 Omni Bridgeway (Cayman) Limited Cayman Islands 100 100 Omni Bridgeway (Fund 5) GPA Pty Ltd Australia 100 100 Omni Bridgeway (Storm) Holdings Pty Ltd Australia 100 100 Omni Bridgeway (Storm) Holdings BV⁴ Netherlands N/A 100 Omni Bridgeway Holding BV Netherlands 100 100 Omni Bridgeway Investment BV Netherlands 100 100 Omni Bridgeway (Singapore) Pte Limited Singapore 100 100 Omni Bridgeway Investment Management Pty Limited Australia 100 100 Omni Bridgeway (NZ) Limited New Zealand 100 100 Fund 6 Omni Bridgeway BV Netherlands 81 81 Omni Bridgeway LegalTech BV Netherlands 41 41 Omni Bridgeway Emerging Markets BV Netherlands 81 81 Omni Bridgeway Collective Redress BV Netherlands 81 81 Omni Bridgeway Asia Pte Ltd⁵ Singapore N/A 81 Omni Bridgeway Holding (Switzerland) SA Switzerland 81 81 Omni Bridgeway SA Switzerland 81 81 Notes to the Financial Statements continued 78 Omni Bridgeway
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Note 30: Parent entity information (continued) Fund 6 (continued) Omni Bridgeway GmbH Germany 81 81 Omni Bridgeway Finance BV Netherlands 81 81 Omni Bridgeway France SAS France 81 81 Omni Bridgeway Italy S.r.L Italy 81 81 Omni Bridgeway Advisory Ltd United Arab Emirates 81 81 Omni Bridgeway DARP Cooperatief U.A. Netherlands 81 81 Stichting Client Accounts Omni Bridgeway1 Netherlands N/A N/A Stichting Cartel Compensation1 Netherlands N/A N/A Stichting Trucks Cartel Compensation1 Netherlands N/A N/A FT Atlas I2 Morocco N/A N/A Fund 8 Omni Bridgeway (Fund 8) Guernsey Investments Limited Guernsey 81 81 Omni Bridgeway (Fund 8) Guernsey SPV Limited Guernsey 81 81 Omni Bridgeway (Fund 8) Delaware SPV LLC USA 81 81 Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 1 USA 81 81 Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 2 USA 81 81 Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 3 USA 81 81 Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 4 USA 81 81 Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 5 USA 81 81 Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 6 USA 81 81 Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 7 USA 81 81 Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 8³ USA 81 N/A Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 9³ USA 81 N/A Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 10³ USA 81 N/A Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 11³ USA 81 N/A Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 12³ USA 81 N/A Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 13³ USA 81 N/A Name Country of Incorporation Percentage owned 2026 2025 % % 1. The Stitching vehicles were founded as separate, independent foundations to ensure the cash flows related to the claims were secured. 2. The Moroccan securitisation special purpose vehicle was founded on 3 November 2023 to set up a portfolio purchased by Omni Bridgeway S.A. 3. Incorporated on 18 July 2025. 4. Omni Bridgeway (Storm) Holding BV was merged into Omni Bridgeway Holding BV on 30 June 2026 and ceased to exist as a separate legal entity. 5. Omni Bridgeway Asia Pte. Ltd. was struck off the Singapore Companies Register on 18 June 2026 and ceased to exist as a legal entity. The list of subsidiaries disclosed includes only those entities that are consolidated into the Group’s financial statements. Subsidiaries that are wholly owned but not consolidated due to the absence of control, or which are considered immaterial to the Group for the purpose of the financial statement disclosures, are excluded from this list. Annual Report 2026 79
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Note 31: Material partly-owned subsidiaries For all subsidiaries where there is less than 51% ownership interest, the Group has power to direct the relevant activities of the investee under contractual arrangements and exposure to variable returns. Therefore the Group is considered to be acting as principal and thus has control. The Group’s subsidiaries that have material non-controlling interests (NCI) are set out below. Percentage owned Country of Incorporation 2026 2025 % % Proportion of equity interest held by non-controlling interests: Fund 6 Omni Bridgeway BV Netherlands 19 19 Omni Bridgeway LegalTech BV Netherlands 59 59 Omni Bridgeway Emerging Markets BV Netherlands 19 19 Omni Bridgeway Collective Redress BV Netherlands 19 19 Omni Bridgeway Asia Pte Ltd Singapore N/A 19 Omni Bridgeway Holding (Switzerland) SA Switzerland 19 19 Omni Bridgeway SA Switzerland 19 19 Omni Bridgeway GmbH Germany 19 19 Omni Bridgeway Finance BV Netherlands 19 19 Omni Bridgeway France SAS France 19 19 Omni Bridgeway Italy S.r.L Italy 19 19 Omni Bridgeway Advisory Ltd United Arab Emirates 19 19 Omni Bridgeway DARP Cooperatief UA Netherlands 19 19 Fund 8 Omni Bridgeway (Fund 8) Guernsey Investments Limited Guernsey 19 19 Omni Bridgeway (Fund 8) Guernsey SPV Limited Guernsey 19 19 Omni Bridgeway (Fund 8) Delaware SPV LLC USA 19 19 Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 1 USA 19 19 Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 2 USA 19 19 Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 3 USA 19 19 Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 4 USA 19 19 Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 5 USA 19 19 Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 6 USA 19 19 Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 7 USA 19 19 Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 8 USA 19 N/A Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 9 USA 19 N/A Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 10 USA 19 N/A Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 11 USA 19 N/A Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 12 USA 19 N/A Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 13 USA 19 N/A Notes to the Financial Statements continued 80 Omni Bridgeway
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Note 31: Material partly-owned subsidiaries (continued) Financial information of subsidiaries that have material non-controlling interests is provided below: (i) Accumulated balances 2026 2025 $'000 $'000 Accumulated balances of material non-controlling interest: Fund 6 181,948 194,195 181,948 194,195 Profit/(loss) allocated to material non-controlling interest: Fund 4 – 34,064 Fund 6 (7,768) 32,961 (7,768) 67,025 (ii) Movements in NCI’s during the year Consolidated Funds 2&3 Fund 4 Fund 6 Total $'000 $'000 $'000 $'000 Balance at 1 July 2024 114,830 227,512 201,865 544,207 Contributions 2,880 40,296 16,026 59,202 Distributions (11,150) (34,124) (49,721) (94,995) Deconsolidation of subsidiaries (116,182) (284,743) – (400,925) Change in share of net assets attributable to NCI 9,373 (10,994) (10,906) (12,527) Profit – 34,064 32,961 67,025 Other comprehensive income 249 27,989 3,970 32,208 Balance at 30 June 2025 – – 194,195 194,195 Distributions – – (4,385) (4,385) Change in share of net assets attributable to NCI – – 5,832 5,832 Loss – – (7,768) (7,768) Other comprehensive loss – – (5,926) (5,926) Balance at 30 June 2026 – – 181,948 181,948 Funds 2&3 On 13 September 2017, the Group established Omni Bridgeway (Fund 2) Pty Ltd and Omni Bridgeway (Fund 3) Pty Ltd. On 26 July 2019, the Group established IMF Bentham ROW SPV 1 Limited. On 15 March 2021, the Group established IMF Bentham ROW SPV 2 Pty Ltd. These entities are collectively “Funds 2&3”. Given the European waterfall structure of Funds 2&3, NCI has the priority to cash proceeds in the early stage, and provide a substantial back-end return attribution to the Group in later periods. Funds 2&3 were deconsolidated on 25 February 2025 due to the loss of control upon the completion of the Fund 9 transaction. The Group no longer retains decision-making rights over the relevant activities of these funds and it does not have power over, nor significant influence on, the funds’ operations. The Group’s residual interests in Funds 2&3, held via Fund 9, are recognised as litigation investments - financial assets. Refer to Note 15 for further details. Fund 4 On 26 October 2018, the Group established Omni Bridgeway Capital GP (Fund 4) LLC. On 29 November 2018, the Group established Security Finance (Fund 4) LLC. On 4 December 2018, the Group established Omni Bridgeway (Fund 4) Invt 1 – 9 LP. On 7 July 2020, the Group established JPV I LP. These entities are collectively “Fund 4”. Fund 4 was deconsolidated on 25 February 2025 following the loss of control, as the Group no longer retains decision-making rights over the relevant activities of these funds and it does not have power over, nor significant influence on, the fund’s operations. The Group’s residual interests in Fund 4, held via Fund 9, are recognised as litigation investments - financial assets. Refer to Note 15 for further details. Annual Report 2026 81
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Note 31: Material partly-owned subsidiaries (continued) Fund 6 Fund 6 was created in 2016 and was acquired by the Group as part of the November 2019 acquisition of OBE. The Group established Omni Bridgeway France SAS and Omni Bridgeway Italy S.r.L. on 8 March 2023 and 31 May 2023 respectively. This is a Europe, Middle East and Africa focused investment structure. Fund 9 On 18 December 2024, the Group established Fund 9, a continuation fund for over 150 investments across Funds 2&3, Funds 4&5 Series I, and one remaining balance sheet investment (Fund 9 Assets). An external investment group acquired a 70% interest in Fund 9 for an up- front cash consideration of $314 million paid to the Group. The transaction resulted in the deconsolidation of these Fund entities because of the loss of control of Funds 2-4 and the novation of the participation agreement with Fund 5 (referred to as “other assets” below) on the transaction completion date on 25 February 2025. The residual interests in the Fund 9 Assets were recognised as litigation investments - financial assets within the Group Consolidated Financial Statements. The prior period transaction resulted in a net gain on deconsolidation of subsidiaries and other assets. Further details of the Fund 9 transactions are disclosed in Note 35 to the FY25 Financial Report. Options The Group has issued share warrants in the Fund 9 transaction which are convertible into ordinary shares if triggered. The warrants issued are equivalent to $35 million, with a strike/exercise price equal to the 30-day Volume Weighted Average Price (‘VWAP’) as of the date of signing the Term Sheet. The warrants are able to be exercised at any time after the second anniversary of the transaction date, but before the fifth anniversary. The warrants include settlement features that allow for either cash or equity settlement, at the sole discretion of the Group (issuer). In accordance with IAS 32 Financial Instruments: Presentation, this is classified as a financial liability due to the presence of a cash settlement option that results in a variable amount of cash being exchanged for a fixed number of shares. This assessment requires significant judgement, particularly in evaluating the enforceability of settlement terms and the implications of discretion under IAS 32. The key inputs used in the valuation of the option are as follows: Valuation input 30-Jun-26 30-Jun-25 Share price $1.65 $1.34 Exercise price of option $0.938 $0.938 Number of periods to exercise in years 1 2.67 Compounded risk-free interest rate 4 % 4 % Volatility 52 % 52 % Expiry date Fifth anniversary of Issue Date Fifth anniversary of Issue Date Number of option 37,333,333 37,333,333 Warrants issued in the Fund 9 transaction are classified as a liability under IFRS, the Group expects the liability will be extinguished via equity settlement. (iii) Summarised cash flows The summarised financial information of controlled entities with material non-controlling interests provided below is based on amounts prior to intercompany eliminations: Consolidated Fund 2 & 3 Fund 4 Fund 6 2026 2025 2026 2025 2026 2025 $'000 $'000 $'000 $'000 $'000 $'000 Summarised statement of cash flows Operating – (235) – (1,101) 3,754 70,486 Investing – 3,482 – (10,784) 14,724 19,942 Financing – (5,983) – 13,879 (44,416) (28,678) Net (decrease)/increase in cash and cash equivalents – (2,736) – 1,995 (25,938) 61,750 Cash and cash equivalents at the beginning of the period – 9,677 – 13,742 101,934 20,285 Deconsolidation of subsidiaries – (2,218) – (19,600) – – Foreign exchange (loss)/gain – (4,723) – 3,863 5,052 19,900 Cash and cash equivalents at the end of the period – – – – 81,048 101,934 Notes to the Financial Statements continued 82 Omni Bridgeway
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Note 32: Interest in associates Set out below are the associates of the Group as at 30 June 2026 which, in the opinion of the directors, are material to the Group. The entities listed below have share capital consisting solely of ordinary shares, which are held directly by the Group. The country of incorporation or registration is also their principal place of business. Name of entity Place of business/country of incorporation % of ownership interest % of voting rights Litigation investments - Investment in associates Investment in associates 2026 2025 2026 2025 2026 2025 2026 2025 % % % % $’000 $’000 $’000 $’000 OB Capital Coop U.A¹ Netherlands 5 5 5 5 – – 9,423 10,174 Omni Bridgeway (Fund 1) LLC2 USA 100 100 100 100 1,073 8,250 – – Total equity-accounted investments 1,073 8,250 9,423 10,174 1. OB Capital Coop U.A is an associate of the Group and it was acquired through the acquisition of Omni Bridgeway Holding BV in November 2019. The entity invests in litigation investments in the Netherlands. The Coop agreement outlines the various powers, rights and responsibilities of the members, includes provisions that provide the Group with significant influence over the entity. 2. Omni Bridgeway (Fund 1) LLC is a litigation investment in associate of the Group and it is an entity within Fund 1 which invests in litigation investments in the United States. The Group has 100% voting rights subject to a removal right exercisable by an external investor. (a) Recognition and measurement An associate is an entity over which the Group has significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the investee, but is not control or joint control over those policies. Litigation investment - investment in associates are the investments in the entities which holding substantially all of its assets in litigation investments. The considerations made in determining significant influence are similar to those necessary to determine control over subsidiaries. The Group’s investment in its associates are accounted for using the equity method. Under the equity method, the investment in an associate is initially recognised at cost. The carrying amount of the investment is adjusted to recognise changes in the Group’s share of net assets of the associate since the acquisition date. Goodwill relating to the associate is included in the carrying amount of the investment and is not tested for impairment separately. If the existence of an associate results from the loss of control over a former subsidiary of the Group’s consolidated financial statements, the associate is initially recognised at the fair value of the retained residual interest held by the Group. The fair value is determined using the methodology of the initial recognition of a financial asset, which represents the present value of the risk-adjusted future potential cashflows to be received by the Group. Since the probability-weighted cashflows are a significant unobservable input, the fair value of the retained interest is classified as a level 3 fair value. The statement of profit or loss reflects the Group’s share of the results of operations of the associate. Any change in Other Comprehensive Income (OCI) of those investees is presented as part of the Group’s OCI. In addition, when there has been a change recognised directly in the equity of the associate, the Group recognises its share of any changes, when applicable, in the statement of changes in equity. Unrealised gains and losses resulting from transactions between the Group and the associate are eliminated to the extent of the interest in the associate. The aggregate of the Group’s share of profit or loss of an associate is shown on the face of the statement of profit or loss outside operating profit and represents profit or loss after tax and non-controlling interests in the subsidiaries of the associate. The financial statements of the associate are prepared for the same reporting period as the Group. When necessary, adjustments are made to bring the accounting policies in line with those of the Group. After application of the equity method, the Group determines whether it is necessary to recognise an impairment loss on its investment in its associate. At each reporting date, the Group determines whether there is objective evidence that the investment in the associate is impaired. If there is such evidence, the Group calculates the amount of impairment as the difference between the recoverable amount of the associate and its carrying value, and then recognises the loss within ‘Share of profit/(loss) of associates’ in the statement of profit or loss. Upon loss of significant influence over the associate, the Group measures and recognises any retained investment at its fair value. Any difference between the carrying amount of the associate upon loss of significant influence and the fair value of the retained investment and proceeds from disposal is recognised in profit or loss. (b) Commitments and contingent liabilities in respect of associates As part of the gain on disposal calculation for Fund 1 and Fund 4 Eagle SPV, an allowance has been made for future costs of managing the fund and requirement for capital commitments. The Group remains as an investment advisor to the Fund 4 Eagle SPV through Fund 9. Accordingly, the related allowance remains recognised on the Group’s balance sheet and is not impacted by the Fund 9 transaction. Apart from those described in Note 27, there are no other material commitments or contingent liabilities from share of associates. (c) Summarised financial information for associates Interest in those associates that are material to the Group for the relevant financial year is provided below: Annual Report 2026 83
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Note 32: Interest in associates (continued) Omni Bridgeway (Fund 1) LLC1 OB Capital Coop U.A 2026 2025 2026 2025 $’000 $’000 $'000 $'000 Income (177) 1,872 20 53 Total expenses 86 2,043 32 55 Operating loss (263) (171) (12) (2) Tax – – – – Equity accounted investment result – – 4,451 37,754 Net (loss)/profit (263) (171) 4,439 37,752 Share of (loss)/profit in associates – (2,239) 222 1,888 Effect of movement in foreign currency – (108) – (221) Net share of (loss)/profit in associates – (2,347) 222 1,667 Current assets 813 185 26 175 Non-current assets 14,783 14,185 188,490 210,722 Current liabilities 54 24 53 7,412 Non-current liabilities 1,125 777 – – Equity 14,417 13,569 188,463 203,485 Group's share in equity 1,073 8,250 9,423 10,174 Group's carrying amount of the investment 1,073 8,250 9,423 10,174 1. The profit or loss and balance sheet of this entity represents IFRS standalone financial statements of Fund 1, whereas the Group’s share in equity is its residual interest that was recognised at fair value at deconsolidation. Refer to Note 31. Note 33: Related party disclosure There were no related party transactions for the Group for the relevant financial year. Note 34: Auditor’s remuneration The auditor of Omni Bridgeway Limited is BDO Audit Pty Ltd. Consolidated 2026 2025 $'000 $'000 Audit and review of financial reports covering the group and controlled entities 1,228 1,628 Taxation fees 420 536 1,648 2,164 Note 35: Events after the reporting date There are no circumstances that have arisen since 30 June 2026 that have significantly affected, or may significantly affect the Consolidated Entity’s operations, the results of those operations, or the Consolidated Entity’s state of affairs in the future financial years. Notes to the Financial Statements continued 84 Omni Bridgeway
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Consolidated Entity Disclosure Statement Omni Bridgeway Limited Body corporate N/A N/A Australia Yes N/A Omni Bridgeway Capital (Canada) Limited Body corporate N/A 100 Canada No Canada Lien Finance Canada Limited Body corporate N/A 100 Canada No Canada Omni Bridgeway Holdings (USA) Inc Body corporate N/A 100 USA No USA Security Finance (Fund 4) LLC Body corporate N/A 100 USA No USA Omni Bridgeway Management (USA) LLC Body corporate N/A 100 USA No USA Omni Bridgeway (USA) LLC Body corporate N/A 100 USA No USA Security Finance LLC (USA) Body corporate N/A 100 USA No USA Omni Bridgeway Holdings (Fund 1) LLC Body corporate N/A 100 USA No USA Crestwood I LLC Body corporate N/A 100 USA No USA Omni Bridgeway (UK) Limited Body corporate N/A 100 United Kingdom No United Kingdom Omni Bridgeway (Cayman) Limited Body corporate N/A 100 Cayman Islands No Cayman Islands Omni Bridgeway (Fund 5) GPA Pty Ltd Body corporate N/A 100 Australia Yes N/A Omni Bridgeway (Storm) Holdings Pty Ltd Body corporate N/A 100 Australia Yes N/A Omni Bridgeway Holding BV Body corporate N/A 100 Netherlands No Netherlands Omni Bridgeway Investment BV Body corporate N/A 100 Netherlands No Netherlands Omni Bridgeway (Singapore) Pte Limited Body corporate N/A 100 Singapore No Singapore Omni Bridgeway Investment Management Pty Limited Body corporate N/A 100 Australia Yes N/A Omni Bridgeway (NZ) Limited Body corporate N/A 100 New Zealand No New Zealand Omni Bridgeway BV Body corporate N/A 81 Netherlands No Netherlands Omni Bridgeway LegalTech BV Body corporate N/A 41 Netherlands No Netherlands Omni Bridgeway Emerging Markets BV Body corporate N/A 81 Netherlands No Netherlands Omni Bridgeway Collective Redress BV Body corporate N/A 81 Netherlands No Netherlands Omni Bridgeway Holding (Switzerland) SA Body corporate N/A 81 Switzerland No Switzerland Omni Bridgeway SA Body corporate N/A 81 Switzerland No Switzerland Omni Bridgeway GmbH Body corporate N/A 81 Germany No Germany Omni Bridgeway Finance BV Body corporate N/A 81 Netherlands No Netherlands Omni Bridgeway France SAS Body corporate N/A 81 France No France Omni Bridgeway Italy S.r.L Body corporate N/A 81 Italy No Italy Omni Bridgeway Advisory Ltd Body corporate N/A 81 United Arab Emirates No United Arab Emirates Omni Bridgeway DARP Cooperatief UA Body corporate N/A 81 Netherlands No Netherlands Omni Bridgeway (Fund 8) Guernsey Investments Limited Body corporate N/A 81 Guernsey No Guernsey Omni Bridgeway (Fund 8) Guernsey SPV LLC Body corporate N/A 81 Guernsey No Guernsey Omni Bridgeway (Fund 8) Delaware SPV LLC Body corporate N/A 81 USA No USA Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 1 Body corporate N/A 81 USA No USA Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 2 Body corporate N/A 81 USA No USA Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 3 Body corporate N/A 81 USA No USA As at 30 June 2026 Name of entity Type of entity Trustee, partner or participant in joint venture % of share capital held Country of incorporation Australian resident Foreign jurisdiction(s) in which the entity is a resident for tax purposes (according to the law of the foreign jurisdiction) Annual Report 2026 85
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Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 4 Body corporate N/A 81 USA No USA Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 5 Body corporate N/A 81 USA No USA Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 6 Body corporate N/A 81 USA No USA Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 7 Body corporate N/A 81 USA No USA Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 8 Body corporate N/A 81 USA No USA Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 9 Body corporate N/A 81 USA No USA Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 10 Body corporate N/A 81 USA No USA Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 11 Body corporate N/A 81 USA No USA Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 12 Body corporate N/A 81 USA No USA Omni Bridgeway (Fund 8) Delaware SPV LLC - Series 13 Body corporate N/A 81 USA No USA As at 30 June 2026 Name of entity Type of entity Trustee, partner or participant in joint venture % of share capital held Country of incorporation Australian resident Foreign jurisdiction(s) in which the entity is a resident for tax purposes (according to the law of the foreign jurisdiction) Consolidated Entity Disclosure Statement continued 86 Omni Bridgeway
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Directors’ Declaration We state that, in the Directors’ opinion: a. the financial statements and notes of Omni Bridgeway Limited for the financial year ended 30 June 2026 are in accordance with the Corporations Act 2001, including: i. giving a true and fair view of its financial position as at 30 June 2026 and performance for the year ended on that date; and ii. complying with Accounting Standards (including the Australian Accounting Interpretations) and the Corporations Regulations 2001; b. the financial statements and notes also comply with International Financial Reporting Standards as disclosed in the notes to the financial statements; c. there are reasonable grounds to believe that the Company will be able to pay its debts as and when they become due and payable; and d. the Consolidated Entity Disclosure Statement is true and correct. Signed in accordance with a resolution of directors of Omni Bridgeway Limited pursuant to section 295A of the Corporations Act 2001 for the financial year ended 30 June 2026, on behalf of the directors. Michael Green Raymond van Hulst Non-Executive Chairman Managing Director and Chief Executive Officer Sydney, 26 August 2026 Sydney, 26 August 2026 Annual Report 2026 87
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Independent Auditor’s Report 88 Omni Bridgeway
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Shareholder information The information set out below is current as at 31 July 2026. (a) Distribution of shareholders Ordinary share capital 289,642,218 fully paid ordinary shares are held by 2,615 individual shareholders. All issued ordinary shares carry one vote per share and carry the right to dividends. Options There are 37,333,333 options issued over ordinary shares. The options were issued on 21 March 2025 at an exercise price of $0.9375 and an expiry of 25 February 2030. Share performance rights 8,789,726 share performance rights were issued to 98 rights holders under the Company’s Long Term Incentive Plan. Distribution of securities The number of shareholders by size of holding, in each class are as at 31 July 2026: Number Fully paid ordinary shares % of issued capital 1 – 1,000 961 368,435 0.13 1,001 – 5,000 811 2,126,641 0.73 5,001 – 10,000 324 2,374,089 0.82 10,001 – 100,000 447 12,827,994 4.43 100,001 and over 72 271,945,059 93.89 2,615 289,642,218 100.00 Non-marketable parcels There were 491 holders of less than a marketable parcel of ordinary shares. (b) Substantial shareholders The names of the substantial shareholders listed in the Company’s register as at 31 July 2026 are: Shareholder Number of ordinary Shares % of issued capital Perpetual Limited 41,291,970 14.26 % Retail Employees Superannuation Pty Ltd 38,413,435 13.26 % Samuel Terry Asset Management Pty Ltd 20,153,230 7.10 % Annual Report 2026 93
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(c) 20 largest holders of quoted equity securities as at 31 July 2026 Number of ordinary shares Issued capital Ordinary Shares ‘000 % 1. HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED 87,662 30.27 2. J P MORGAN NOMINEES AUSTRALIA PTY LIMITED 52,893 18.26 3. CITICORP NOMINEES PTY LIMITED 35,140 12.13 4. HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED - A/C 2 23,151 7.99 5. BNP PARIBAS NOMS PTY LTD 14,083 4.86 6. UBS NOMINEES PTY LTD 12,328 4.26 7. BNP PARIBAS NOMINEES PTY LTD <IB AU NOMS RETAILCLIENT> 10,962 3.78 8. HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED <GSCO CUSTOMERS A/C> 6,522 2.25 9. HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED-GSCO ECA 5,224 1.80 10. CPU SHARE PLANS PTY LTD <OBL LTI UNALLOCATED A/C> 2,523 0.87 11. MRS SAU HAN ALICE PHILLIPS 1,474 0.51 12. GA PEASE NOMINEES PTY LTD <GA PEASE INVESTMENT A/C> 1,450 0.50 13. GRAHAM NEWMAN PTY LTD 1,283 0.44 14. MS CATHERINE OLWENY 1,184 0.41 15. BNP PARIBAS NOMINEES PTY LTD <CLEARSTREAM> 976 0.34 16. MR ALEXANDER PAUL CHANG 760 0.26 17. B F A PTY LTD 747 0.26 18. HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED 670 0.23 19. SWANBROOK CAPITAL PTY LTD <GREEN FAMILY A/C> 610 0.21 20. DEMETA PTY LTD 580 0.20 260,222 89.83 (d) Options as at 31 July 2026 – unquoted There are 37,333,333 options issued over ordinary shares. The options were issued on 21 March 2025 at an exercise price of $0.9375 and an expiry of 25 February 2030. Shareholder information continued 94 Omni Bridgeway
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Shareholder information (continued) US ownership restriction The ordinary shares of Omni Bridgeway are subject to ownership restrictions applying to residents of the United States. The Shares have not been registered under the US Securities Act of 1933 or the securities laws of any state or other jurisdiction of the United States. In addition, OBL has not been registered under the US Investment Company Act of 1940 in reliance on an exemption from registration. Accordingly, the Shares may not be offered or sold in the United States or to, or for the account or benefit of US Persons except in accordance with an available exemption from, or a transaction not subject to, the registration requirements of the US Securities Act, the US Investment Company Act and applicable US state securities laws. In order to qualify for an exemption under the US Investment Company Act, the constitution of OBL provides that where a holder is an Excluded US Person: OBL may refuse to register a transfer of Shares to that Excluded US Person; and The Excluded US Person may be requested to sell such person’s Shares and, if the Excluded US Person fails to do so within 30 business days, to be divested of such Shares and to receive the proceeds of sale (net of transaction costs, including any applicable brokerage) as soon as practicable after the sale. In addition, OBL’s constitution provides that a holder may be required to complete a statutory declaration in relation to whether they (or any person on whose account or benefit it holds Shares) are an Excluded US Person. Any holder who does not comply with such a request will be deemed to be an Excluded US Person. The Shares are issued on terms under which each holder who is or becomes an Excluded US Person agrees to the above terms and irrevocably appoints OBL as that holder’s agent and attorney to do all acts and things and execute all documents which OBL considers necessary, desirable or reasonably incidental to effect the above actions. Shares issued during the year On 4 November 2025, the Company issued 799,259 shares relating to the FY23 LTIP vesting. On 7 April 2026, the Company issued 410,221 shares relating to the employee equity incentive plan. Share options – unissued shares As at 30 June 2026 there were 8,604,441 share performance rights on issue (2025: 11,846,644). Annual Report 2026 95
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Corporate information Bridgeway Limited shares are listed on the Australian Securities Exchange This annual report covers both Omni Bridgeway Limited as an individual entity and the Consolidated Entity comprising Omni Bridgeway Limited and its subsidiaries. The Group’s functional and presentation currency is AUD ($). A description of the Group’s operations and of its principal activities is included in the review of operations and activities in the Directors’ Report. The Directors’ Report is not part of the Financial report. Directors Raymond van Hulst Managing Director and Chief Executive Officer Karen Phin Non-Executive Director Christine Feldmanis Non-Executive Director Michael Green Non-Executive Director & Chairman Company Secretary Jeremy Sambrook Registered office and principal place of business in Australia Level 7, 35 Clarence Street Sydney NSW 2000 Phone: +61 (0)2 8223 3567 Fax: +61 (0)2 8223 3555 Solicitors DLA PIPER Level 9, 480 Queen Street Brisbane QLD 4000 THOMSONS Level 29, Central Park Tower 152-158 St Georges Terrace Perth, WA 6000 Share registry COMPUTERSHARE Level 11, 172 St Georges Terrace Perth WA 6000 Auditors BDO AUDIT PTY LTD 25/252 Pitt Street, Sydney NSW 2000 Bankers NATIONAL AUSTRALIA BANK LIMITED 3/2 Carrington Street Sydney NSW 2000 WESTPAC BANKING CORPORATION 275 Kent Street Sydney NSW 2000 Internet address www.omnibridgeway.com The Company is listed on the Australian Securities Exchange with Sydney, Australia as its home exchange. Its ASX ticker symbol is “OBL” and its shares were trading as at the date of this report. 96 Omni Bridgeway
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Glossary Throughout Omni Bridgeway Limited’s (OBL, Company, Parent) publicly available information, the following terms have the meanings detailed in this glossary which shall be updated from time to time: AASB Australian Accounting Standards Board. Addressable Market OBL’s estimate of the annual amount spent by claimants on external costs of dispute resolution (excluding enforcement) that could be addressed by OBL’s dispute finance service offering. Adverse cost The cost that a losing party to litigation (in certain jurisdictions only) is required to pay to the winning party as compensation for the legal costs they have incurred in the litigation process. After the event (ATE) Insurance Insurance cover to protect against adverse cost exposure. AFSL Australian Financial Services Licence. ALFA Association of Litigation Funders of Australia. American Waterfall The waterfall refers to the order in which investment proceeds in a fund are distributed between Fund participants. Under an American-style distribution Carried Interest hurdles are calculated by reference to completed investments only and in subject to annual clawback assessment. Americas The geographic region of North, Central and South America. APAC The geographic region incorporating Asia and the Pacific Region including Australia and New Zealand. ASX Australian Securities Exchange. AUM/Assets Under Management AUM is the fair value of the Investments of the funds and any Sidecar investments together with any undrawn Committed Capital and Fund cash balances. CAGR Compound annual growth rate. Carried Interest OBL is entitled to be paid a fee in connection with the management of each investment subject to the IRR generated. These are paid out of proceeds arising from the realisation of an investment. Committed Capital/Commitments The amount of funding that has been contractually committed by the funding vehicle to a litigation investment under a funding arrangement which is either (i) a capped amount; or (ii) the estimated budgeted amount to run the investment to completion, as amended and duly approved from time to time. It does not include; Sidecar contributions, or possible overheads to be capitalised or, unless expressly part of the budget, possible adverse costs that may become payable if the litigation is lost or other associated expenses of the funding vehicle. Capital deployed Is the portion of the Committed Capital which has been expended from time to time. For completed investments it includes any net adverse costs. It does not include Sidecar contributions. Capitalised overheads Internal costs (including borrowing costs and direct staff costs) that are incurred in relation to Investments that are not expensed in the period they were incurred but added to the investment carrying value and recognised through the profit and loss in line with the completion of each respective investment. Capitalisation occurs at the OBL and consolidation level, not within each Fund and does not affect portfolio or Fund performance, waterfall or fees. Completed investments / Completion For merits investments, this refers to the situation where the underlying litigation has progressed to a state where there are no further risk to the legal result notwithstanding that such finalisation may be conditional upon certain matters such as court approval. For enforcement investments, completion occurs at the point where there is no further recovery action planned. Discount rate OBL uses a discount rate of 12% for calculation of fair value, based on the weighted average cost of capital (WACC) for the legal finance asset class, which closely aligns with the WACC for OBL and with the hurdle rates for our third-party fund capital. All main investment risks associated with legal investments, including loss risk, duration risk, budget risk, quantum risk and credit risk are reflected in the probabilistic scenarios, and therefore fall outside the scope of risks determining the required discount rate. Direct balance sheet Relates to investments of the Group that are not held via a Fund. CGU Cash-generating unit which is defined as the smallest group of assets that generates largely independent cash inflows. Distressed Asset Recovery Program (DARP) A strategic program of the World Bank’s International Finance Corporation to reduce the effects of poverty in emerging markets by preventing the loss of assets and allowing access to formal credit, while helping to preserve jobs. Refer to Fund 7. DRP Dividend Reinvestment Plan. ELFA European Litigation Funders Association. EMEA The geographic region incorporating Europe, Middle East and Africa. Annual Report 2026 97
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Enforcement investment Refers to investments where the underlying dispute has a debt and/or judicial finding that is not being honoured and requires action to be collected. ESG Environmental, social and governance. EPS Earnings per share. European Waterfall The waterfall refers to the order in which investment proceeds in a fund are distributed between Fund participants. Under an European-style distribution, Carried Interest hurdles are calculated by reference to all fund investments and not just completed investments. The manager receives any Carried Interest until the full amount of investors capital and preferred return have been fully satisfied. Excluded US Person Means a holder of Shares (or a person who seeks to be registered as a holder of Shares) whom the directors of OBL have determined (i) is a US Person who is not a Qualified Purchaser or a Knowledgeable Employee or (ii) holds or will hold Shares for the account or benefit of any US Person who is not a Qualified Purchaser or a Knowledgeable Employee. Fair Value (FV) As defined in the investor day presentation available here. 12-month Fair Value The proportionate part of our total book fair value, which has expected cash inflows over the applicable 12-month period based on the underlying probability weighted net cash flows fair value models. All, part or none of these investment inflows may eventuate during the next 12-month period. Fair value conversion rate In respect of a stated period, the net value of deployments and proceeds received from fully completed investments, since the date of the last reported portfolio fair value, divided by the aggregate of the last reported fair value for the applicable investments. First Generation Fund(s) OBL’s Fund 1, & Fund 2&3; which were established by the Group in 2017 with generally consistent terms. Fourth Generation Fund OBL’s Fund 8 as raised in 2022. Fund Commitments The amount of capital agreed to be provided to an OBL Fund from OBL and external investors. Funds Means funds, or fund like structures, that OBL manages, advises and invests into. It includes Fund 1, Fund 2&3, Fund 4 Series I, Fund 5 Series I, Fund 6, Fund 8, Fund 9, Fund 4 Series II and Fund 5 Series II. Funded investments Refers to investments where the Group has entered an unconditional binding contract. FUM/Funds under Management Commitments The aggregate amount of Fund commitments (whether called or uncalled) for all of the Funds that are in operation at any point in time. Funds deployed Refer to Capital deployed. Fund 1 Funding structure for Litigation Investments in the US established in 2017. A participation in the fund was sold in May 2023 and is Fund 1 is now deconsolidated from the group. OBL continues to manage the Fund. Funds 2&3 Funding structure for Litigation investments in the RoW established in 2017 with Fund commitments of AUD 189 million. Funds 2&3 are now deconsolidated from the group. Fund 4 (Series I) Funding structure for Litigation Investments in the US established in 2019 with Fund commitments of USD 500 million. Fund 4 (Series II) Funding structure follow-on from Fund 4 (Series I), with the same mandate. Fund 5 (Series I) Funding structure for Litigation investments in the RoW established in 2019 with Fund commitments of USD 500 million. Fund 5 (Series II) Follow-on Fund to Fund 5 Series I, substantially based on same terms. Fund 6 Funding structure established in 2017 for investments focused on EMEA, purchased as part of OBE Group in 2019, with Fund commitments of EUR 188 million. This Fund is in the harvest phase post the end of the applicable investment period. Fund 7 A joint venture with the IFC/World Bank to facilitate investments in distressed assets recoveries. This has subsequently been merged into Funds 6 and 8. Fund 8 Funding structure closed in 1Q24 focused on investing up to EUR 150 million in global enforcement investments. Fund 9 A continuation fund established in 2025 by OBL. The fund was formed to acquire OBL’s co-investment interests in over 150 legal finance assets across Funds 2/3, Funds 4/5 Series 1, and one balance sheet investment (collectively, the Fund 9 Assets). IC/Investment Committee(s) Investment Committee(s) of Omni Bridgeway which make investment advisory recommendations with regard to investments and comprise both internal and external appointees. IC approved/conditionally funded Refers to investments that are approved by the Group’s internal investment process but have not reached an unconditional status. This may relate to the state of the funding contract, or book build, loss quantification, discovery or other evidence requirements. Glossary continued 98 Omni Bridgeway
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Glossary continued ICC International Chamber of Commerce. IFRS International Financial Reporting Standards. ILFA International Legal Finance Association. IMF IMF Bentham Limited and its Group, now known as OBL following a name change in 2020. Investment commitment Refer to committed capital/commitments. Income v revenue terminology Income, revenue and proceeds are generally used interchangeably for realised sums on litigation investments regardless of how IFRS may classify the assets and its consequential P&L disclosure. Income yet to be recognised Is the estimated value of income that may be generated from investments that are substantially complete from a litigation perspective at that point in time but have not fully satisfied revenue recognition accounting standards and our policies. It is subject to change and relates to substantially completed investments with conditional settlements or judgments on appeal which may be recognised in future periods. Internal rate of return (IRR) IRR is calculated including all full and partial completions of investments for the relevant period, excluding fund 1 sales, withdrawals and Extraordinary Investments. IRR at fund level is calculated using actual sequencing of investments and associated cashflows within a fund. IRR for subsets of investments across funds (including vintages, LTD, or other time periods) is calculated using zero-based IRR methodology, which has each investment start at T=0 within the subset. Invested capital refer to Capital deployed. Knowledgeable Employee As per the SEC’s Rule 3c-5 under the US Investment Company Act of 1940, Knowledgeable Employee with respect to any Covered Company means any natural person who is: (i) an Executive Officer, director, trustee, general partner, advisory board member, or person serving in a similar capacity, of the Covered Company or an Affiliated Management Person of the Covered Company. LatAm (Latin America) The geographic region spanning Central and South America. LTIP Long-Term Incentive Plan. Malus and clawback event provisions These are provisions whereby participants in the LTIP may in the event of certain specified conduct such as fraud, forfeit all or a portion of their performance rights or the resulting shares or be required to repay all or a portion of their sale proceeds from such securities. Managed Investment Scheme (MIS) An investment structure regulated under Australian Corporation Law regulations. Management fees Management fees are received for the provision of investment management services provided and are paid quarterly in arrears calculated on the net invested capital. Material litigation events (MLE) Objectively verifiable events leading to changes in assumptions or inputs in the calculation of the FV of investments. There are many possible material litigation events, with some generally applicable to most litigation investments and others more investment specific. A material litigation event is always objectively verifiable and not based on a subjective reassessment of an investment. Typical material litigation events include: i. Judgments, arbitral decisions, new relevant case law, mediations, partial settlements or recoveries, new external legal opinions (eg. as a result of changes to fact base or legal discovery), new expert opinions (eg. on damages) ii. Changes to expected duration (eg. following case management hearings, court timetables or observed delays), book-building results, budget changes, asset freezes, new recoverability intelligence, etc. MENA Middle East & North Africa. Merits investment Refers to investments where the underlying dispute involves ongoing questions about facts, damages or legal outcome and there is a risk around a judicial decision. MOIC Multiple on invested capital. NCI Non-controlling interest. This represents the interests of external Fund investors in funds that are consolidated within the Group, in accordance with each of the respective Funds’ return waterfall. OBE Group Omni Bridgeway Holdings BV and subsidiaries; it includes Fund 6. OBL Omni Bridgeway Limited (ABN 45 067 298 088). OBL-only A non-IFRS term reflecting the amounts attributable to equity shareholders excluding the external Fund investors’ interest. OCA OBL On-line Client Administration Proprietary Database. Other costs Includes unrecoverable due diligence costs and for Funds 2&3 and Fund 5 it additionally includes the cost of the After–the–Event insurance policy premium. Performance fees Refer to Carried Interest. Annual Report 2026 99
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PPA Purchase price adjustment is the adjustment in value ascribed to the investments purchased with OBE compared to their carrying cost at the time of the business combination in 2019. Adjustment occurs at the OBL and consolidation level, not within OBE Group and does not affect portfolio or Fund performance, waterfall or fees. Principle protection cover Insurance cover to protect against risk of losing the Capital deployed to an investment. Qualified Purchaser Has the meaning given in Section 2(a)(51) of the US Investment Company Act of 1940 and the rules and regulations of the US Securities and Exchange Commission. Resolution Sum Means the total amount of any money, services, benefits and/or any in-kind assets that becomes due or is collected in accord with the underlying litigation or enforcement. It is before allowing for any amounts due to the funder, lawyers or other advisors or participants. The funder earns a share of this Resolution sum in accord with the funding arrangements. Rest of world (RoW)/non–USA Includes all regions, excluding the United States of America, in which OBL has or may have investments, LatAm. Return on invested capital (ROIC) Is the ratio of profit made above the investment cost calculated on Completed Investments across their entire life (not on an annualised basis). Unless expressly stated to the contrary, it excludes consideration of capitalised overheads, operating overheads, and withdrawals from investments. It is calculated as gross investment income less all total expenditure (excluding any adverse costs), divided by total investment expenditure (excluding any adverse costs). SIAC Singapore International Arbitration Centre Sidecar Sidecar Investments reflect third party capital, outside of fund capital, in investments managed by OBL, or investments in which OBL has an economic interest equal to greater than 60%. OBL is generally entitled to separately agreed management fees, transaction fees and/or Carried Interest on such sidecar investments. Second Generation Fund OBL’s Fund 4 Series I and Fund 5 Series II - established by the Group in 2019 with generally consistent terms. Secondary market sale A sale (in whole or part of) an existing litigation investment to another litigation investor at a point during the life of the investment before completion. SPV Special purpose vehicle STIP Short-Term Incentive Plan. Note that this is now replaced by Carried Interest and no new STIP is issued from FY25 onwards. Success rate Refers to % of investments where the underlying litigation has completed in a manner that causes the funder to have received more than it deployed. Success – legal Refers to investments where the underlying litigation has completed to the benefit of the funded party. Success – financial Refers to investments where the underlying litigation has completed in a manner that causes the funder to have received more than it deployed. TFR Total Fixed Remuneration Third Generation Fund/Purchased fund OBL’s Fund 6 and Fund 7; which were established by OBE Group and acquired as part of the 2019 acquisition of that group by IMF. TSR Total shareholder return. US Person Any natural person resident in the United States is a US person according to Rule 902(k)(1)(i) of Regulation S. In C&DI 276.01, the SEC staff clarified that a person that has permanent resident status in the US (a so-called Green Card holder) is presumed to be a US resident for purposes of Regulation S. Withdrawal Refers to investments where the funder has ceased funding before the underlying litigation has completed. $ weighted average Is the average of results allowing for the respective relative AUD values of the sample inputs. Total addressable market information sources 1. US: MarketLine Industry Guide, Reference MLIG250001-01 “Legal Services Global Industry Guide 2020-2029”, Marketline, January 2025, p 104. 2. UK: MarketLine Industry Guide, Reference MLIG250001-01 “Legal Services Global Industry Guide 2020-2029”, Marketline, January 2025, p 86. 3. NZ: “Legal Services in New Zealand”, IBISWorld, July 2025, p 3, 4. 4. Europe: MarketLine Industry Guide, Reference MLIG250001-01, “Legal Services Global Industry Guide 2020-2029”, Marketline, January 2025, p 51. 5. Asia: MarketLine Industry Guide, Reference MLIG230001-01, “Legal Services Global Industry Guide 2018-2027”, Marketline, January 2025, p 38 6. Australia: MarketLine Industry Guide, Reference MLIG250001-01, “Legal Services Global Industry Guide 2020-2029”, Marketline, January 2025, p 38. 7. Canada: MarketLine Industry Guide, Reference MLIG250001-01, “Legal Services Global Industry Guide 2020-2029”, Marketline, January 2025, p 107. Glossary continued 100 Omni Bridgeway
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Non-IFRS financial information and disclosure Non-IFRS financial information included in OBL’s Annual (and Half-year) Report, associated result presentations, quarterly investment portfolio announcement and other materials has been prepared in accordance with ASIC Regulatory Guidance 230 – Disclosing Non-IFRS financial information, issued December 2011. Such information has not been audited or reviewed by external auditors. Non-IFRS financial information is financial information that is presented other than in accordance with all relevant accounting standards. The Group believes that given the unique nature of its business the inclusion of non-IFRS information is useful for investors and other users. In our disclosures it includes, FV, IEV, LTCR, commitment, deployed, completion, PCP, preferred return, income yet to be recognised, investment income and other terms bespoke to OBL. In certain instances, it is simply redisplaying IFRS information differently (e.g. ”cash table” or “completion table” is readily reconcilable to the IFRS disclosures.) Whilst our statutory financial reports provide historical financial information that are prepared in accordance with accounting standards and other financial reporting requirements of the Corporations Act and have the objective of ensuring consistent and comparable reporting of historical financial performance, position and cash flows over and between entities; our Non-IFRS material contains information aimed to assist in informed assessment of the Group’s operations, financial position, business strategies and prospects. It is provided to more fully explain the performance and financial position of the Group so as to provide an understanding of the underlying business and the drivers of profit. The Group’s non-IFRS financial information is calculated consistently from period to period; is unbiased and does not remove ‘bad news’. Definitions and assumptions around calculations, are provided as appropriate. Where such information is a re-presentation, re- classification or a subset of IFRS material, the identifiable IFRS components are provided in order to prove a link to the statutory financial reports. The primary rationale for the majority of our non-IFRS information is to provide an indicative view of the size, value and diversification of the Group’s litigation investments (however accounted for); our past economic performance regarding litigation investments and the interplay between OBL and NCI attribution. We feel that this is necessary due to the complex (and not readily understood or comparable) nature of our accounting and structural treatment. This is amplified by the overriding requirement of most of our litigation investments being required to be carried at cost (less any impairment). Additionally, in certain disclosures we include 100% of Fund 5; this approach aggregates the external investors’ interests with those of OBL to facilitate direct comparison between all Funds (as the other Funds are consolidated & hence disclosed at 100%). Annual Report 2026 101
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