Interim report
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Appendix 4D Half Yearly Report Appendix 4D Half Year Report Period ending 31 December 2025 Name of entity Supply Network Limited ABN 12 003 135 680 1. Details of reporting period Half year ended 31 December 2025 Previous corresponding period 31 December 2024 2. Results for announcement to the market $’000 Revenue from ordinary activities up 16.6% to 200,498 Profit from ordinary activities after income tax up 15.5% to 22,863 Net profit for the period attributable to members up 15.5% to 22,863 Dividends Amount per Security Franked amount per security Interim dividend to be paid 2 April 2026 36.0¢ 36.0¢ Record date for determining entitlements to dividend 19 March 2026 Final dividend (2025) paid 2 October 2025 38.0¢ 38.0¢ Brief explanation of any of the figures reported above Please refer to Directors’ Report on page 2 of the half-year financial report attached 3. Net tangible asset backing Current Period Previous corresponding period Net tangible asset backing per ordinary security $3.49 $2.80 4. Details of entities over which control has been gained or lost during period Nil For personal use only
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Appendix 4D Half Yearly Report 5. Details of Dividends Refer to attached half year financial report 6. Dividend Reinvestment Plans The Dividend Reinvestment Plan will not operate in respect of the interim dividend payable 2 April 2026. 7. Details of associate and joint venture entities Nil 8. Foreign Entities Not applicable 9. Statement in relation to half-year accounts is based on This report is based on accounts that have been reviewed and are not subject to dispute or qualification. This half-year report should be read in conjunction with the 2025 Annual Report. Signature Date 23 February 2026 Name Robert Coleman Position Chief Financial Officer / Company Secretary For personal use only
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Supply Network Limited A.B.N. 12 003 135 680 Half-Year Financial Report for the Period Ended 31 December 2025 Contents Page Corporate Information 1 Directors’ Report 2 Auditor's Independence Declaration 4 Statement of Profit or Loss and Other Comprehensive Income 5 Statement of Financial Position 6 Statement of Changes in Equity 7 Statement of Cash Flows 8 Notes to the Financial Statements 9 Directors' Declaration 13 Independent Auditor's Review Report 14 For personal use only
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Supply Network Limited 1 Corporate Information Directors Robert D Fraser (Chairman) Geoff D H Stewart (Managing Director) Greg J Forsyth Peter W Gill Peter W McKenzie Karen L Phin (appointed 22 September 2025) Company Secretary Robert A Coleman Registered Office 1 Turnbull Close Pemulwuy NSW 2145 Telephone 02 8624 8077 E-mail admin@supplynetwork.com.au Corporate Governance Statement The Corporate Governance Statement can be found at:www.supplynetwork.com.au/governance.htm Internet Address www.supplynetwork.com.au Auditors BDO Audit Pty Ltd Bankers ANZ Banking Group Limited Solicitors Bartier Perry Share Registry Computershare Investor Services Pty Limited Level 3, 60 Carrington Street Sydney NSW 2000 Enquiries (within Australia) 1300 850 505 Enquiries (outside Australia) 61 3 9415 4000 Facsimile 61 3 9473 2500 Stock Exchange Listing Supply Network Limited (ASX code SNL) shares are quoted on the Australian Securities Exchange. For personal use only
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Supply Network Limited 2 Directors’ Report Your Directors of Supply Network Limited (“the company”) and its controlled entities (“the Group”) submit their report for the half-year ended 31 December 2025. Directors The names of the company’s Directors in office during the half-year and until the date of this report are set out below. Directors were in office for this entire period unless otherwise stated. R D Fraser (Chairman) G D H Stewart (Managing Director) G J Forsyth P W Gill P W McKenzie Karen L Phin (appointed 22 September 2025) Review of Operations Group revenue for the half-year was $200.5m, which is an increase of 16.6% compared with the same period last year. Group sales revenue for the half -year was $200.1m, which is an increase of 16.9% compared to the same period last year. Earnings before interest and tax for the half-year was $33.4m, an increase of 14.6% on the same period last year. Profit after income tax for the half-year was $22.9m, an increase of 15.5% on the same period last year. Basic e arnings per share for the half -year w as 52.43 cents compared with 46.21 cents for the corresponding period last year. As at 31 December 2025, the net assets of the Group was $152.8m. Group cash flows from operating activities for the half year was $20.2m compared with $20.4m for the same period last year. The Group’s net cash position (cash and cash equivalents less interest bearing loans and borrowings) as at 31 December 2025 was $22.1m. The Directors have declared an interim dividend of 36.0 cents per share, fully franked at a 30% corporate tax rate, payable on 2 April 2026 to shareholders registered on 19 March 2026. The Dividend Reinvestment Plan will not operate in respect of the interim dividend. Rounding The amounts contained in this report and in the half -year financial report have been rounded to the nearest $1,000 (unless otherwise stated) under the option available to the company under ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2016/191. The company is an entity to which this Instrument applies. For personal use only
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Supply Network Limited 3 Directors’ Report (continued) Auditor’s Independence Declaration A copy of the Auditor’s Independence declaration as required under the Section 307C of the Corporations Act 2001 is set out on page 4. Signed in accordance with a resolution of directors. R D Fraser Chairman Sydney 23 February 2026 For personal use only
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Parkline Place Level 25, 252 Pitt Street Sydney NSW 2000 Australia Tel: +61 2 9251 4100 Fax: +61 2 9240 9821 www.bdo.com.au BDO Audit Pty Ltd ABN 33 134 022 870 is a member of a national association of independent entities which are all members of B DO International Ltd, a UK company limited by guarantee, and form part of the international BDO network of independent member fi rms. Liability limited by a scheme approved under Professional Standards Legislation. DECLARATION OF INDEPENDENCE BY MARTIN COYLE TO THE DIRECTORS OF SUPPLY NETWORK LIMITED As lead auditor for the review of Supply Network Limited for the half-year ended 31 December 2025, I declare that, to the best of my knowledge and belief, there have been: 1. No contraventions of the auditor independence requirements of the Corporations Act 2001 in relation to the review; and 2. No contraventions of any applicable code of professional conduct in relation to the review. This declaration is in respect of Supply Network Limited and the entities it controlled during the period. BDO Audit Pty Ltd Martin Coyle Director Sydn ey, 23 February 2026 For personal use only
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Supply Network Limited 5 Statement of Profit or Loss and Other Comprehensive Income The above statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes. for the half-year ended 31 December 2025 Note Consolidated 31 Dec 2025 $’000 31 Dec 2024 $’000 Revenue 3 200,142 171,173 Finance revenue 3 346 223 Other income 3 10 625 Changes in inventories of finished goods (113,663) (96,015) Employee benefits expense (33,629) (29,402) Depreciation and amortisation 3 (5,776) (5,057) Other expenses 3 (13,702) (12,202) Finance costs 3 (1,120) (1,142) Profit before income tax 32,608 28,203 Income tax expense (9,745) (8,413) Profit after income tax 22,863 19,790 Profit attributable to members of the parent 22,863 19,790 Other comprehensive income Items that may be reclassified subsequently to profit or loss Adjustment on translation of foreign controlled entity net of tax (1,980) (236) Total other comprehensive loss after income tax (1,980) (236) Total comprehensive income for the half-year attributable to members of the parent 20,883 19,554 Basic earnings per share (cents per share) 52.43 46.21 Diluted earnings per share (cents per share) 52.29 46.08 For personal use only
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Supply Network Limited 6 Statement of Financial Position at 31 December 2025 Note Consolidated 31 Dec 2025 $’000 30 Jun 2025 $’000 ASSETS Current assets Cash and cash equivalents 5 23,345 21,357 Trade and other receivables 35,410 36,198 Inventories 131,265 124,358 Other current assets 2,519 2,476 Total current assets 192,539 184,389 Non-current assets Property, plant and equipment 14,348 13,594 Right of use assets 39,231 36,741 Deferred tax assets 6,670 6,029 Total non-current assets 60,249 56,364 TOTAL ASSETS 252,788 240,753 LIABILITIES Current liabilities Trade and other payables 44,958 45,214 Interest bearing loans and borrowings 345 772 Income tax payable 1,496 1,755 Provisions 5,865 5,506 Lease liabilities 7,875 7,121 Total current liabilities 60,539 60,368 Non-current liabilities Interest bearing loans and borrowings 863 5,714 Provisions 473 436 Lease liabilities 38,089 36,042 Total non-current liabilities 39,425 42,192 TOTAL LIABILITIES 99,964 102,560 NET ASSETS 152,824 138,193 EQUITY Contributed equity 6 73,941 64,021 Reserves 19 1,657 Retained earnings 78,864 72,515 TOTAL EQUITY 152,824 138,193 The above statement of financial position should be read in conjunction with the accompanying notes. For personal use only
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Supply Network Limited 7 Statement of Changes in Equity for the half-year ended 31 December 2025 Note Contributed Equity $000 Share- based Payment Reserve $000 Exchange Translation Reserve $000 Retained Earnings $000 Total $000 Consolidated Balance at 30 June 2025 64,021 1,084 573 72,515 138,193 Total comprehensive income for the half-year - - (1,980) 22,863 20,883 64,021 1,084 (1,407) 95,378 159,076 Transactions with owners in their capacity as owners Share-based payments - 342 - - 342 Dividends provided for or paid 4 - - - (16,514) (16,514) Dividend Reinvestment Plan share issues 9,920 - - - 9,920 Balance at 31 December 2025 6(b) 73,941 1,426 (1,407) 78,864 152,824 Balance at 30 June 2024 41,889 831 170 60,344 103,234 Total comprehensive income for the half-year - - (236) 19,790 19,554 41,889 831 (66) 80,134 122,788 Transactions with owners in their capacity as owners Share-based payments 458 (89) - - 369 Dividends provided for or paid 4 - - - (14,045) (14,045) Dividend Reinvestment Plan share issues 11,704 - - - 11,704 Balance at 31 December 2024 6(b) 54,051 742 (66) 66,089 120,816 The above statement of changes in equity should be read in conjunction with the accompanying notes. For personal use only
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Supply Network Limited 8 Statement of Cash Flows The above statement of cash flows should be read in conjunction with the accompanying notes . for the half-year ended 31 December 2025 Note Consolidated 31 Dec 2025 $’000 31 Dec 2024 $’000 Cash flows from operating activities Receipts from customers 221,611 192,570 Payments to suppliers and employees (189,921) (161,256) Interest received 291 187 Interest paid (207) (331) Interest paid lease liabilities (945) (837) Income tax paid (10,650) (9,980) Net cash flows from operating activities 20,179 20,353 Cash flows from investing activities Proceeds from sale of land and buildings - 3,248 Purchase of property, plant and equipment (2,385) (1,929) Net cash flows from (used in) investing activities (2,385) 1,319 Cash flows from financing activities Repayment of borrowings (5,173) (1,422) Repayment of lease liabilities (3,812) (3,252) Proceeds from share Issue 9,920 11,704 Dividends paid 4 (16,514) (14,045) Net cash flows used in financing activities (15,579) (7,015) Net increase (decrease) in cash and cash equivalents 2,215 14,657 Cash and cash equivalents at beginning of the half-year 5 21,357 4,539 Exchange rate adjustment to balances held in foreign currencies (227) 91 Cash and cash equivalents at the end of the half-year 5 23,345 19,287 For personal use only
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Supply Network Limited 9 Notes to the Financial Statements for the half-year ended 31 December 2025 1. Corporate Information The consolidated financial report of Supply Network Limited ( “the company ”) and its controlled entities (collectively “the Group”) for the half-year ended 31 December 2025 was authorised for issue in accordance with a resolution of the Directors on 23 February 2026. Supply Network Limited is a company limited by shares, incorporated in Australia, whose shares are traded on the Australian Securities Exchange. The principal activity of the Group during the period was the provision of after -market parts for the commercial vehicle market. 2. Summary of material accounting policies The half-year financial report does not include all notes of the type normally included within the annual financial report and therefore cannot be expected to provide as full an understanding of the financial performance, financial position and financing and investing activities of the Group as the full financial report. The half-year report should be read in conjunction with the annual report for the year ended 30 June 2025. It is also recommended that the half -year report be considered together with any public announcements made by Supply Network Limited during the half-year ended 31 December 2025 in accordance with the continuous disclosure obligations of the ASX Listing Rules. (a) Basis of preparation The half-year consolidated financial report is a general -purpose financial report, which has been prepared in accordance with Australian Accounting Standard AASB 134 Interim Financial Reporting as appropriate for for-profit oriented entities and the Corporations Act 2001. (b) Basis of consolidation The half -year consolidated financial statements comprise the financial statements of Supply Network Limited and its subsidiaries as at 31 December 2025. The exchange differences arising on the translation of the financial statements of a foreign subsidiary are taken directly to a separate component of equity. (c) Material accounting policies The half-year consolidated financial statements have been prepared using the same accounting policies as used in the annual financial statements for the year ended 30 June 2025. The Group has considered the implications of new and amended Accounting Standards and determined that their application to the financial statements is either not relevant or not material. For personal use only
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Supply Network Limited 10 Notes to the Financial Statements (continued) for the half-year ended 31 December 2025 Consolidated 31 Dec 2025 $’000 31 Dec 2024 $’000 3. Revenue and expenses (a) Revenue and expenses (i) Revenue Revenue from contracts with customers Sale of goods 200,142 171,173 (ii) Finance revenue Bank interest 346 223 (iii) Other income Bad debts recovered 10 19 Gain on sale of property at Christchurch, New Zealand - 598 Other income - 8 10 625 (iv) Depreciation and amortisation Property, plant and equipment 1,498 1,361 Right-of-use assets 4,278 3,696 5,776 5,057 (v) Other expenses Computer and communication costs 1,720 1,473 Credit losses – trade receivables 297 261 Freight and cartage 2,242 2,017 Operating lease expenses and outgoings 1,145 877 Packaging 789 517 Other 7,509 7,057 13,702 12,202 (vi) Finance costs Bank loans and overdrafts 149 278 Interest expense on lease liabilities 945 837 Other finance costs 26 27 1,120 1,142 (b) Seasonality of operations The Group’s operations are not subject to any seasonal or cyclical factors. For personal use only
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Supply Network Limited 11 Notes to the Financial Statements (continued) for the half-year ended 31 December 2025 Consolidated 31 Dec 2025 $’000 31 Dec 2024 $’000 4. Dividends paid and proposed on ordinary shares (a) Dividends declared and paid during the half-year Final fully franked dividend 2025 (38.0 cents per share) (2024: 33.0 cents per share) 16,514 14,045 (b) Dividends proposed subsequent to 31 December and not recognised as a liability Interim fully franked dividend 2025 (36.0 cents per share) (2024: 32.0 cents per share) 15,751 13,807 Consolidated 31 Dec 2025 $’000 30 June 2025 $’000 5. Cash and cash equivalents For the purpose of the statement of cash flows, cash and cash equivalents comprises: Cash at bank and in hand 23,345 21,357 6. Contributed equity (a) Issued and paid up capital 43,753,845 ordinary shares fully paid (June 2025: 43,457,994) 73,941 64,021 (b) Movements in ordinary shares on issue during the period 31 Dec 2025 31 Dec 2024 No. of Shares $’000 No. of Shares $’000 Balance at beginning of period 43,457,994 64,021 42,506,235 41,889 Issue on exercise of share rights - - 55,000 458 Issue of shares on dividend reinvestment plan 295,851 9,920 585,193 11,704 Balance at end of period 43,753,845 73,941 43,146,428 54,051 For personal use only
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Supply Network Limited 12 Notes to the Financial Statements (continued) for the half-year ended 31 December 2025 7. Segment information The Group operates in one business segment being the provision of after-market parts for the commercial vehicle market. The Group’s geographical segments are determined based on the location of the Group’s assets. The geographical segments are unchanged from those identified and reported previously. Australia New Zealand Eliminations Consolidated 31 Dec 2025 $’000 31 Dec 2024 $’000 31 Dec 2025 $’000 31 Dec 2024 $’000 31 Dec 2025 $’000 31 Dec 2024 $’000 31 Dec 2025 $’000 31 Dec 2024 $’000 Revenue Sales to customers outside the Group 172,593 145,695 27,549 25,478 - - 200,142 171,173 Other revenues outside the Group 350 248 6 600 - - 356 848 Inter-segment revenues 2,261 2,131 - 27 (2,261) (2,158) - - Total segment revenues 175,204 148,074 27,555 26,105 (2,261) (2,158) 200,498 172,021 Results Segment results 28,124 23,944 4,485 4,259 - - 32,608 28,203 Profit before income tax and finance revenue and costs 33,382 29,122 Finance revenue 346 223 Finance costs (1,120) (1,142) Profit before income tax 32,608 28,203 Income tax expense (9,745) (8,413) Profit after income tax 22,863 19,790 Segment accounting policies are the same as the Group’s policies. During the period, there were no changes in segment accounting policies that had a material effect on the segment information. The sale of goods between segments is at cost of the item plus a commercial margin. Revenue is attributed to geographical areas based on location of the assets producing the revenues . 8. Events after the reporting date Other than the interim dividend declared as noted in Note 4 (b), no other matter or circumstance has arisen since the end of the half-year that has significantly affected or may significantly affect the operations of the Group, the result of those operations or the state of affairs of the Group. 9. Changes in composition of Group There have been no changes in the composition of the Group since the financial year ended 30 June 2025. For personal use only
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Supply Network Limited 13 Directors’ Declaration In accordance with a resolution of the Directors of Supply Network Limited, I state that: In the opinion of the Directors: (a) the financial statements and notes are in accordance with the Corporations Act 2001, including: (i) giving a true and fair view of the consolidated entity’s financial position as at 31 December 2025 and of its performance for the half-year ended on that date; and (ii) complying with Accounting Standards (including AASB 134 Interim Financial Reporting) and the Corporations Regulations 2001; and (b) there are reasonable grounds to believe that the company will be able to pay its debts as and when they become due and payable. On behalf of the Board R D Fraser Chairman Sydney 23 February 2026 For personal use only
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Tel: +61 2 9251 4100 Fax: +61 2 9240 9821 www.bdo.com.au Parkline Place Level 25, 252 Pitt Street Sydney NSW 2000 Australia BDO Audit Pty Ltd ABN 33 134 022 870 is a member of a national association of independent entities which are all members of B DO International Ltd, a UK company limited by guarantee, and form part of the international BDO network of independent member fi rms. Liability limited by a scheme approved under Professional Standards Legislation. INDEPENDENT AUDITOR'S REVIEW REPORT To the members of Supply Network Limited R eport on the Half-Year Financial Report Conclusion We have reviewed the half-year financial report of Supply Network Limited (the Company) and its subsidiaries (the Group), which comprises the consolidated statement of financial position as at 31 December 2025, the consolidated statement of profit or loss and other comprehensive income, the consolidated statement of changes in equity and the consolidated statement of cash flows for the half- year ended on that date, material accounting policy information and other explanatory information, and the directors’ declaration. Based on our review, which is not an audit, we have not become aware of any matter that makes us believe that the accompanying half-year financial report of the Group does not comply with the Corporations Act 2001 including: i. Giving a true and fair view of the Group’s financial position as at 31 December 20 25 and of its financial performance for the half-year ended on that date; and ii. Complying with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001. Basis for conclusion We conducted our review in accordance with ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity. Our responsibilities are further described in the Auditor’s Responsibilities for the Review of the Financial Report section of our report. We are independent of the Group in accordance with the auditor independence requirements of the Corporations Act 2001 and the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (including Independence Standards) (the Code) that are relevant to the audit of the annual financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code. We confirm that the independence declaration required by the Corporations Act 2001 which has been given to the directors of the Company, would be the same terms if given to the directors as at the time of this auditor’s review report. Responsibility of the directors for the financial report The directors of the Company are responsible for the preparation of the half-year financial report that gives a true and fair view in accordance with Australian Accounting Standards and the Corporations Act For personal use only
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2001 and for such internal control as the directors determine is necessary to enable the preparation of the half-year financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error. Auditor’s responsibility for the review of the financial report Our responsibility is to express a conclusion on the half-year financial report based on our review. ASRE 2410 requires us to conclude whether we have become aware of any matter that makes us believe that the half-year financial report is not in accordance with the Corporations Act 2001 including giving a true and fair view of the Group’s financial position as at 31 December 2025 and its financial performance for the half-year ended on that date and complying with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001. A review of a half-year financial report consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Australian Auditing Standards and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. BDO Audit Pty Ltd Martin Coyle Director Sydn ey, 23 February 2026 For personal use only