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Arbitr
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ANNUAL MEETING · 4 NOVEMBER 2026 · 2:00PM AEDT Today’s meeting 01 Chair’s address 02 Co-CEO presentation 03 Q&A 04 Formal resolutions 05 Voting ARBITR GROUP LIMITED · ANNUAL MEETING · 4 NOVEMBER 2026
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Arbitr ANNUAL MEETING · 4 NOVEMBER 2026 Chairs Address ARBITR GROUP LIMITED · ASX: AGT · ANNUAL MEETING 2026
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Arbitr ANNUAL MEETING · 4 NOVEMBER 2026 Survive. Thrive. Lead. Six months of rebuilding the company · Co-CEO address ARBITR GROUP LIMITED · ASX: AGT · ANNUAL MEETING 2026
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ANNUAL MEETING 2026 Important notice This presentation has been prepared by Arbitr Group Limited (ASX: AGT) for its 2026 Annual Meeting. It contains summary information and should be read with the Company’s 2026 Annual Report and other announcements lodged with ASX. It contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Third-party market forecasts are those of their authors, not guidance from the Company. Please note • Not financial product advice or an offer of securities • Any offer is made only under its offer document • Financial figures in NZ$ unless marked A$ or US$ • Financial year ends 31 March ARBITR GROUP LIMITED · ANNUAL MEETING · 4 NOVEMBER 2026 02
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BEFORE WE START This meeting is six months later than it should be 31 MAR FY26 ends LATE MAY Fraud found in our US subsidiary; shares suspended JUN – AUG Forensic review, accounts rebuilt and audited 2 SEP Shares back on ASX 29 SEP Renamed Arbitr Group Limited 4 NOV Today We would normally have met you after the FY26 results. So today covers two things: the year to March, and the six months since, while the business kept running. ARBITR GROUP LIMITED · ANNUAL MEETING · 4 NOVEMBER 2026 03
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WHERE WE ARE NOW We have come through Survive. Now we thrive and lead. 01 Survive Stabilise the business: contain the fraud, rebuild the accounts, keep our customers. 02 Thrive Build the context layer, turn it into work customers pay for, and reach them through IBM. 03 Lead Set the company up to grow through 2027, and report it plainly. 04
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01 · APRIL TO SEPTEMBER 2026 Survive Stabilise the business, protect our customers, and earn the right to keep building. 05
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01 · SURVIVE What we did to stabilise the business Contained it Accounts secured, US authorities notified, independent forensic investigation completed. Losses confirmed at about NZ$9m (US$5.2m). Rebuilt the record Accounts fully reconstructed, an unmodified audit opinion on FY26, and shares back on ASX on 2 September. Tightened controls Revised banking mandates, better segregation of duties and tighter access to finance systems, overseen by the Board. Reset the team Amanda Cribb appointed CFO, new leaders in product, customer and sales, and a leaner cost base. SOURCES: CHAIR’S ADDRESS · Q2 FY27 QUARTERLY ACTIVITIES REPORT 06
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01 · SURVIVE Customers stayed with us through it $9.25m Cash receipts from customers, up from $8.82m the quarter before 68% Gross margin on $6.6m of revenue +$0.34m Net operating cash flow, after forensic and remediation costs Through suspension, investigation and a change of platform, customers kept buying and we maintained our cash position. QUARTER ENDED 30 SEPTEMBER 2026 (Q2 FY27) · NZ$ · QUARTERLY ACTIVITIES REPORT, 30 OCT 2026 07
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02 · BUILDING THE NEW PLATFORM Thrive Move our customers onto Arbitr, build the context layer, put it to work through agents, and reach new customers through IBM. 08
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02 · THRIVE · MOVING OUR CUSTOMERS First, our existing customers: why they move to Arbitr 01 The work moves to models and agents Work shifts from people to the model and agent layer, which changes the unit economics of every job. 02 Their knowledge is captured and improves Approved terms, claims and corrections are kept and refined in Cortex, so models and agents get better results. 03 Context goes beyond language The same context carries into adjacent solutions, such as disclosure and AI visibility, not only translation. 04 >80% Less time to complete a project ARBITR GROUP LIMITED · ANNUAL MEETING · 4 NOVEMBER 2026 09
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02 · THRIVE · MOVING OUR CUSTOMERS Where the move is up to ORGANISATIONS ONBOARDING 101 All across by end of December JUN 30 OCT WORDS DELIVERED A MONTH 3.1M In October J J A S O DELIVERED WITH NO HUMAN 85% Of words in October J J A S O HOW CUSTOMERS ARE USING IT · TODAY / TARGET Stickiness (WAU/MAU) 63% / 80% Credit utilisation 11.8% / 40% Agents per customer 1.6 / 3 ARBITR PLATFORM DATA, JUNE TO 30 OCT 2026 · TIMING: Q2 FY27 QUARTERLY REPORT 10
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02 · THRIVE · THE CONTEXT LAYER The context layer: what AI needs to know about your company WHAT IT IS A company’s own knowledge What a company has decided: approved claims, terms, tone, rules and who signed off, read by every AI model and agent. WHY IT MATTERS What makes AI useful Models are getting cheaper and more alike. The context they read is what makes their work right for one company. WHY US What we have always done For 25 years we have managed approved terms, style and reviewer corrections for global companies, in 120+ languages. A new hire is only as good as their briefing. The context layer is the briefing for every AI agent a company runs, kept current and checked by people. ARBITR GROUP LIMITED · ANNUAL MEETING · 4 NOVEMBER 2026 11
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02 · THRIVE · THE CONTEXT LAYER What we are building: decision context IN What the company already has: filings, product data, brand rules, policies, past translations → CORTEX · KEEPS WHAT A PERSON DECIDED Approved claims, with valid-until dates Terminology and brand voice Rules and things never to say Who approved it, and when Reviewer corrections, made once A record of every release → OUT Every model and agent works from it. Output passes, is corrected, or goes to a named reviewer. 4 in 10 → 9 in 10 Business questions a leading model answered correctly, without and with business context ATSCALE, OCT 2026 69% → 92% Compliance with company policy when our model is steered by it ARBITR TEST 64.8% → 82.1% Quality pass rate of a custom model over three review cycles ARBITR MODEL FACTORY ARBITR GROUP LIMITED · ANNUAL MEETING · 4 NOVEMBER 2026 12
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02 · THRIVE · THE CONTEXT LAYER A new market, and why we are well placed WHAT GARTNER FORECASTS US$28bn → US$78bn AI context platforms, 2026 to 2030, about 29.5% a year By 2028 Most companies running AI agents will standardise on one context platform Up to 80% Higher agent accuracy, and up to 60% lower cost, from better context WHY WE ARE WELL PLACED 01 Gartner says these platforms need domain experts. We have 37,000 reviewers and 25 years of approved decisions. 02 We have both halves: governed meaning in Cortex, put to work by our own agents and models. 03 Proven where errors cost most: regulated disclosure, in 120+ languages. 04 Built on IBM, one of the vendors Gartner names in the category. SOURCE: GARTNER, AI CONTEXT PLATFORMS, AUG 2026 · GARTNER’S FORECASTS, NOT COMPANY GUIDANCE 13
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02 · THRIVE · AGENTS AND SOLUTIONS Agents put the context to work on problems customers pay to solve CORTEX · THE CONTEXT → AGENTS AND VERTICAL MODELS · THE WORK → A SOLVED PROBLEM · THE OUTCOME LIVE SwiftBridge Japanese companies publishing disclosures in English, on time and right first time IN BETA AI Visibility How a company ranks when buyers ask AI assistants, and how to rank higher LIVE Language agents Global content teams publishing in 120+ languages, checked before release Every job an agent runs uses tokens, which customers buy as Intelligence Credits. More use cases mean more demand, and better context lets cheaper models do more of the work. ARBITR GROUP LIMITED · ANNUAL MEETING · 4 NOVEMBER 2026 14
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02 · THRIVE · AGENTS AND SOLUTIONS SwiftBridge: rebuilt and ready to scale WHAT WE CHANGED We built SwiftBridge inside Arbitr, and the first full report cycle on the new build ran error free. ~800 Japanese listed companies in reach ~US$20K Average revenue per client 5 Early clients today 25+ Target in the December quarter NOW AN AGENT TEAM INSIDE ARBITR 01 Prepare the source files and tables 02 Draft in English with our own model 03 Rebuild the layout, tables and charts 04 Check every figure against Cortex 05 Flag what a reviewer must sign off Built on our own Japanese financial model, which scored 68.90 on unseen text against 58.61 for a global engine. MARKET: TSE PRIME COMPANIES FOCUSED ON GLOBAL INVESTORS · BENCHMARK: SIGNAL #02 15
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02 · THRIVE · AGENTS AND SOLUTIONS AI Visibility: Arbitr beyond translation “Who offers the best university courses for my degree in Australia?” Does the AI name you? Profile how you rank · Recommend what to change · Generate the content, in every supported language WHERE IT IS Beta Released in late October 5 Proof-of-concept customers signed 30 days To release across our customers US$18K Revenue per customer, plus usage as it scales PRODUCT SCREEN SHOWN WITH A DEMO ACCOUNT 16
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02 · THRIVE · AGENTS AND SOLUTIONS Language agents: what our customers use first Translate and localise Check terms and style Rebuild the layout Dub video in your own voice Sign off by language Expert human review 15 Agents live 7 Categories HOW USE GROWS Customers start with the agents they used before, then add more. Each added agent is more use of the platform, without a new sales cycle. That is why agents per customer is one of our five metrics. AGENT FIGURES: SIGNAL #05, JULY 2026 17
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02 · THRIVE · AGENTS AND SOLUTIONS Next: more agents for every customer 1 · RELEASE FEATURES AI Visibility New capabilities that put a customer’s context to work on new problems. 2 · BUILD OUR OWN AGENTS Intelligence Marketplace Agents we build, from financial disclosure to brand voice, ready to test and deploy. 3 · LET CUSTOMERS BUILD Agent Studio Customers describe a job, build their own agent on Cortex and deploy it inside Arbitr. Every added agent is more use of the platform, without a new sales cycle. PRODUCT SCREENS SHOWN WITH DEMO DATA 18
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02 · THRIVE · REACH THROUGH IBM Built into IBM, so we can sell through IBM GOVERN watsonx.governance An audit record of every agent action RUN watsonx Orchestrate Arbitr agents in IBM’s catalogue. First: AI Dubbing BUILD watsonx.ai Vertical small models from our model factory BUILD IBM Bob Code-level access to any Arbitr model, agent or workflow Distribution Our agents in front of IBM’s sellers and customers Trust Runs where regulated buyers already run and audit their AI Partnership Supplier in 2021, build partner in 2023, Platinum Partner in 2026 4 IBM PLATFORMS ARBITR IS BUILT INTO Why IBM sells with us: every Arbitr customer adds IBM usage, from agent calls on Orchestrate and models on watsonx.ai to audit records on watsonx.governance and infrastructure on IBM Cloud. SOURCES: SIGNAL #07 · Q2 FY27 QUARTERLY REPORT 19
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03 · INTO 2027 Lead Set the company up to grow through 2027, with focus and capital, and report it plainly. 21
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03 · LEAD Focused where we can lead LEAD MARKET Japan The disclosure mandate, SwiftBridge and IBM Japan. CORE MARKET United States Large enterprise customers and IBM’s global sellers. CORE MARKET Europe Regulated enterprises with the most to lose from a wrong claim. Fewer markets, fewer products, each one carried through to customers and revenue. ARBITR GROUP LIMITED · ANNUAL MEETING · 4 NOVEMBER 2026 22
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03 · LEAD What to watch for into 2027 BY DEC 2026 Language Cloud migration complete Every migrating customer live on Arbitr and its pricing BY DEC 2026 Capital raising complete Subject to shareholder approval at the EGM DEC QTR 2026 SwiftBridge scaling to 25+ clients On the rebuilt agent, from 5 early clients H2 FY27 Agents per customer from 1.6 to 3 AI Visibility to all customers, more marketplace agents and Agent Studio H2 FY27 More agents in IBM watsonx Orchestrate Following AI Dubbing into IBM’s catalogue EVERY QUARTER Reporting against five metrics In quarterly reports and The Signal TIMING INDICATIVE · FY27 ENDS 31 MARCH 2027 23
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03 · LEAD Five measures you can hold us to Metric What it tells you Good looks like Customers on Arbitr How far the move to the platform has gone Rising to full migration Credit utilisation Whether customers use what they buy Rising WAU / MAU Whether customers come back each week Rising Agent utility Agents in use per customer Rising, without new sales AI : human revenue Share of revenue delivered by AI AI share rising We will report all five every quarter, whether they move the right way or not. METRICS AS NAMED IN THE FY2026 ANNUAL REPORT 24
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Arbitr ANNUAL MEETING · 4 NOVEMBER 2026 Q&A ARBITR GROUP LIMITED · ASX: AGT · ANNUAL MEETING 2026
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Arbitr ANNUAL MEETING · 4 NOVEMBER 2026 Formal Resolutions ARBITR GROUP LIMITED · ASX: AGT · ANNUAL MEETING 2026
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Arbitr ANNUAL MEETING · 4 NOVEMBER 2026 Voting ARBITR GROUP LIMITED · ASX: AGT · ANNUAL MEETING 2026