Annual financial statement
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1 OSTOW LIMITED ABN 39 636 701 267 ANNUAL FINANCIAL REPORT JUNE 2026
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2 TABLE OF CONTENTS 3 Directors’ Report 7 Statement of Profit or Loss and Other Comprehensive Income 8 Balance Sheet 9 Statement of Cash Flows 11 Statement of Changes in Equity 12 Notes to the Financial Statements 35 Directors’ Declaration 36 Auditor’s Independence Declaration and Auditor’s Report
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DIRECTORS’ REPORT 3 The Directors of Ostow Limited (Company) present the 2026 annual report, together with the financial statements, on the consolidated entity (Group) consisting of the Company and the entities it controlled at the end of, or during, the year ended 30 June 2026. Principal Activities The Company is stapled to two other entities (WOTSO Property Trust and Planloc Limited) forming the listed WOTSO (ASX: WOT). During the reporting period, the principal continuing activities of the Group consisted of providing flexible workspace, offering everything from a single desk to larger spaces to anyone from start-ups and small to medium enterprises, to large corporates teams. Environmental Regulation The Group’s operations are not subject to any significant environmental laws or regulations under Commonwealth or State legislation other than those that pertain to the ownership and development of real estate. Indemnities of Officers During the year, the Group paid premiums to insure each of the Directors along with officers of the Group against all liabilities for costs and expenses incurred by them in defending any legal proceedings arising out of their conduct while acting in the capacity of Director or officer of the Group, other than conduct involving a wilful breach of duty. The insurance policy prohibits disclosure of the nature of the liability, the amount of the premium and the limit of liability. No indemnities have been given, or insurance premiums paid, during or since the end of the year for any person who is or has been an auditor to the Group. Risks The Group has identified a number of material business risks including inflation, lease obligations and employee recruitment and retention, among others. These risks are subject to continuous assessment and review. The key business risks impacting the Group and how such risks are managed are outlined in WOTSO’s 2026 Annual Report, which can be found at https://wotso.com/investors-information/. Net Flexspace Income Statutory profit has been impacted by non-cash accounting transactions including depreciation, amortisation, and the application of Australian Accounting Standards Board (AASB) 16 accounting for leases. The following table excludes these items, along with overhead costs, to arrive at the net flexspace income, which more accurately reflects the actual operating performance of the Group. Profit or Loss 2026 $’000 2025 $’000 Flexspace income 34,842 31,475 HealthSpace income 437 398 Total Revenue 35,279 31,873 Rent expense – related parties (8,247) (6,885) Rent expense – third parties (9,402) (8,872) Operating expenses (9,610) (8,388) WOTSO site staff costs (5,456) (4,837) Total Operating Expenses (32,715) (28,982) Net Flexspace Income 2,564 2,891 Other property income 957 878 Other income 4,983 5,295 Interest income 396 210 Share of equity accounted gain 227 263 Other net remeasurement gain / (loss) 57 (500) Impact of AASB 16 (1,154) (1,531) Gain / (loss) on disposal of asset 27 (238) Depreciation and amortisation (4,733) (4,792) Overhead and administration costs (9,336) (8,665) Loss Before Income Tax (6,012) (6,189)
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DIRECTORS’ REPORT 4 WOTSO FlexSpace Business Valuation The value created through the growth of the flexspace business does not translate easily to our balance sheet, nor does it tell the full story for the value of that portion of our business. Consequently, the Company has refreshed its valuation of the flexspace business with the aim of providing a more accurate representation of the business’ value and growth trajectory. Following this assessment, the flexspace business has been attributed an indicative value of approximately $92M. Dividends During the year, WOTSO paid the FY25 final distribution of 1.25 cps on 3 October 2025 and an interim distribution of 1.35 cps on 10 April 2026. Both distributions were paid entirely from WOTSO Property Trust, with the Company not contributing any dividend to either distribution. The Directors of WOTSO have declared a final distribution of 1.45 cps to be paid on 10 November 2026, being a trust distribution from WOTSO Property Trust with the Company not contributing any dividend to this distribution. Going Concern The Group is in a net current liability position of $11.2M and a net liability position of $13.7M at 30 June 2026, which includes $68.5M of lease liabilities and a $62.1M related party loan payable to WOTSO Property Trust at a floating rate, alongside $34.4M of related party receivables. Notwithstanding this position, many WOTSO locations are in the build-up phase and profitability is expected to improve, the Group generated positive operating cash flows during the year, and short-term funding continues to be available from related parties within the WOTSO group if required. The Directors have a reasonable expectation that the Company has adequate resources to continue as a going concern for the foreseeable future, and the financial statements have accordingly been prepared on a going concern basis. Refer to Note 2 for further detail. Rounding of Amounts The Company is an entity to which section 7 of ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2026/183 applies and in accordance with that section, amounts in the directors’ report and financial statements are rounded off to the nearest thousand dollars, unless otherwise required. Company Officeholders The names of the officeholders during the year are set out below. Unless otherwise stated, officeholders have been in office since the beginning of the year. Joseph (Seph) Glew Non-Executive Director and Chairman Seph has worked in the commercial property industry in New Zealand, the USA and Australia. Seph has driven large scale property development and financial structuring for real estate for over 50 years. In addition, since the early 1990s Seph has run many “turn-around” processes in relation to distressed properties and property structures for both private and institutional property owners. While working for the Housing Corporation of New Zealand and then AMP, Seph qualified as a registered valuer and holds a Bachelor of Commerce. In the 1980s he served as an Executive Director with New Zealand based property group Chase Corporation and as a Non-Executive Director with a number of other listed companies in New Zealand and Australia. Jessica (Jessie) Glew CEO and Executive Director Jessie is the CEO and COO of WOTSO. Prior to her appointment as CEO, Jessie was Joint Managing Director of both WOTSO and BlackWall Limited (ASX: BWF), the listed property and fund manager and previous manager of WOTSO. Jessie has been with the BlackWall Group since early 2011 and has over 15 years’ experience in the property industry, specifically in development and operations. Jessie also holds a Bachelor of International Communication from Macquarie University and a class one NSW real estate licence. Jessie joined the Board of The Kids’ Cancer Project in 2022, providing insights and operational knowledge to help support the charity. Since 2024 Jessie has sat on the Board of Flexible Workspace Australia, the peak body for coworking and flexible workspace providers and partners across all cities and regions of Australia. Richard Hill Non-Executive Director Richard Hill has extensive investment banking experience and was the founding partner of the corporate advisory firm Hill Young & Associates. Richard has invested in BlackWall’s projects since the early 1990s. Prior to forming Hill Young, Richard held a number of Senior Executive positions in Hong Kong and New York with HSBC. He was admitted as an attorney in New York State and was registered by the US Securities & Exchange Commission and the Ontario Securities Commission. Richard has served as a Director (Chairman) of the Westmead Institute for Medical Research and Director (Chairman) of Sirtex Medical Limited (Sirtex), formerly listed on ASX. Paul Tresidder Non-Executive Director Paul has considerable experience in retail management, leading, development and strategic planning. He spent eight years with Lendlease where he held a number of roles, including National Leasing Manager, before being appointed to the position of Divisional Manager responsible for half of the General Property Trust retail portfolio. Paul and fellow Lendlease executive Guy Wynn, formed a property management company which was subsequently acquired by Baillieu Knight Frank. In 1993, Paul joined Seph Glew in the development business that would ultimately become ASX listed BlackWall Limited. Agata Ryan Company Secretary Agata joined WOTSO in 2023 as the Head of Legal and Company Secretary. Agata oversees all aspects of WOTSO’s
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DIRECTORS’ REPORT 5 commercial and fund transactions, corporate governance and regulatory functions, and investor relations. Prior to joining WOTSO, Agata was a property lawyer working at law firms, ranging from top tier to boutique, as well as legal counsel in the commercial property legal team at Stockland. Agata is admitted as a solicitor of the Supreme Court of New South Wales and the High Court of Australia and holds a Bachelor of Arts, Master of Commerce and Juris Doctor from UNSW. Remuneration Report (Audited) The Board is responsible for determining the remuneration of key management personnel (KMP). For the period the Board has determined that KMP included the CEO and Directors. When determining the remuneration of KMP, senior executives, or employees, the following are taken into consideration: • remuneration is aligned with the delivery of returns to shareholders; • responsibilities, results, innovation and entrepreneurial behaviour are recognised and rewarded; and • the Group’s financial position and market conditions. The remuneration of KMP is reviewed at times deemed appropriate by the Board. There are no performance conditions for Board members or contracts for KMP. Any performance payments are at the discretion of the Board. The nature and the amount of each element of remuneration paid to the Board members and KMP for the reporting period are listed below: Directors’ Fees Salary and Other Post-Employment Superannuation Total 2026 $ 2025 $ 2026 $ 2025 $ 2026 $ 2025 $ 2026 $ 2025 $ Jessie Glew - - 359,200 358,461 30,000 30,115 389,200 388,576 Seph Glew 100,000 100,000 - - - - 100,000 100,000 Richard Hill 85,000 85,000 - - - - 85,000 85,000 Paul Tresidder 85,000 85,000 - - - - 85,000 85,000 Total 270,000 270,000 359,200 358,461 30,000 30,115 659,200 658,576 Loans have been made to KMP to acquire securities under WOTSO’s employee share scheme. The loans attract interest at a rate of 2% above the RBA cash rate and are secured against the securities issued. Interest of $51,911 was charged on these loans during the year (2025 - $58,555). The loans have no fixed repayment term and are repayable on demand or upon the relevant KMP ceasing employment with the Group, whichever occurs first. All distributions received from these securities go towards repaying the loan balance. The following loans were outstanding at year end: 2026 $ 2025 $ Jessie Glew 866,278 937,002 Total 866,278 937,002 The Company’s shares are quoted on the ASX as a component of the stapled WOTSO group and cannot be acquired, held or disposed separately from units in WOTSO Property Trust and shares in Planloc Limited. Accordingly, there is no separately traded price for the Company, and the return to shareholders must consider the return of the WOTSO group as a whole. For those reasons, the information in the table below sets out summary information about the WOTSO group’s earnings and movements in shareholder wealth for the five years to 30 June 2026. 2026 $’000 2025 $’000 2024 $’000 2023 $’000 2022 $’000 WOTSO revenue 48,754 47,045 49,722 48,523 40,185 WOTSO net profit / (loss) after tax (2,128) (4,370) 876 (6,208) 34,076 2026 2025 2024 2023 2022 Basic and diluted earnings per share (EPS) (cps) (1.5) (3.0) 0.0 0.5 18.8 Interim dividend (cps) 1.35 1.00 1.00 3.00 3.00 Final dividend (cps)* 1.45 1.25 1.00 3.00 3.00 Total dividends paid (cps) 2.80 2.25 2.00 6.00 6.00 Share price at start of the year 0.60 0.86 1.14 1.39 1.45 Share price at end of the year 0.52 0.60 0.86 1.14 1.39 *Declared after the end of the reporting period and not reflected in the financial statements.
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DIRECTORS’ REPORT 6 Auditor and Non-audit Services $86,000 and $14,000 were paid to the auditor for audit and non-audit services respectively during the year (2025 - $57,000 and $19,000 respectively) as detailed in Note 18. The Directors are satisfied that the provision of non-audit services is compatible with the general standard of independence for auditors imposed by the Corporations Act 2001 (Cth). The nature and scope of each type of non-audit service provided means that auditor independence was not compromised. A copy of the auditor’s independence declaration as required under section 307C of the Corporations Act 2001 (Cth) is set out in these financial statements. ESV Business Advice and Accounting continues in office in accordance with section 327 of the Corporations Act 2001 (Cth). Subsequent Events With the exception of those events disclosed in Note 26 and the dispute with WOTSO’s landlord at North Strathfield (referred to in Notes 6 and 20), which resulted in legal proceedings, the outcome of which is unknown, to the best of the Directors' knowledge, since the end of the year there have been no matters or circumstances that have materially affected the Group's operations, or may materially affect its operations, state of affairs, or the results of operations in future years. Meeting Attendances Director No. of Board Meetings Held Board Meeting Attendance Audit Committee Meetings Audit Committee Attendance Seph Glew 6 6 - - Jessie Glew 6 6 - - Richard Hill 6 6 4 4 Paul Tresidder 6 6 4 4 Registered Office & Principal Place of Business Level 1, 50 Yeo Street, Neutral Bay NSW 2089 Telephone +61 2 9157 4069 or 1800 203 170 Auditor ESV Business Advice and Accounting Level 13, 68 York Street, Sydney NSW 2000 Signed in accordance with a resolution of the Board of Directors. Seph Glew Chairman Sydney, 25 August 2026 Jessie Glew Director Sydney, 25 August 2026
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OSTOW LIMITED – FINANCIAL STATEMENTS 7 Statement of Profit or Loss and Other Comprehensive Income for the year ended 30 June 2026 Note 2026 $’000 2025 $’000 Revenue Revenue from WOTSO members 3 34,842 31,475 HealthSpace income 3 437 398 Other property income 3 957 878 Other income 3 4,983 5,295 Total Revenue 41,219 38,046 Expenses Staff costs (10,765) (10,048) Director fees (270) (270) Variable lease payments (6,072) (4,617) Other operating expenses 4 (12,623) (10,751) Bad debt expenses (67) (22) Total Expenses (29,797) (25,708) Operating Profit 11,422 12,338 Depreciation – fitout 5 (3,872) (3,955) Depreciation – right of use lease asset 6 (9,689) (9,484) Interest – right of use lease liability 6 (3,719) (3,986) Amortisation 10,11 (861) (837) Interest income 396 210 Share of equity accounted gain 227 263 Gain / (loss) on disposal of asset 27 (238) Other net remeasurement gain / (loss) 7 57 (500) Loss before Income Tax (6,012) (6,189) Income tax expense - - Loss for the Year (6,012) (6,189) Foreign currency translation gain 23 - Total Loss and Other Comprehensive Loss (5,989) (6,189) Attributable to members of the Group (5,989) (6,165) Non-controlling interest (NCI) - (24) Total Loss and Other Comprehensive Loss (5,989) (6,189) EPS Weighted average number of shares 161,281,868 162,153,948 Basic and diluted EPS 24 (3.7) cents (3.8) cents
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OSTOW LIMITED – FINANCIAL STATEMENTS 8 Balance Sheet at 30 June 2026 Note 2026 $’000 2025 $’000 Assets Current Assets Cash and cash equivalents 5,340 4,764 Trade and other receivables 8 1,346 598 Total Current Assets 6,686 5,362 Non-Current Assets Investments 9 3,693 4,645 WOTSO software development asset 10 501 847 Rental deposits 12 2,612 1,761 Loans receivable – related parties 13 34,440 33,331 Intangible assets 11 2,299 2,814 Goodwill 1,343 1,343 Property, plant and equipment 5 17,297 15,208 Right of use lease asset 6 57,282 65,146 Total Non-Current Assets 119,467 125,095 Total Assets 126,153 130,457 Liabilities Current Liabilities Trade and other payables 14 4,775 3,519 Unearned revenue 377 377 Deferred lease payments – COVID 19 25 Employee provisions 15 1,260 1,198 Tenant deposits 58 63 Make good provisions 15 764 418 Right of use lease liabilities 6 10,675 10,596 Total Current Liabilities 17,928 16,196 Non-Current Liabilities Loans payable – related party 16 62,091 56,135 Fitout loan 250 - Deferred lease payments – COVID - 11 Make good provisions 15 1,553 1,705 Employee provisions 15 218 217 Right of use lease liabilities 6 57,835 63,742 Total Non-Current Liabilities 121,947 121,810 Total Liabilities 139,875 138,006 Net Liabilities (13,722) (7,549) Share capital 19 11,311 11,495 Accumulated losses (24,994) (18,976) Foreign currency translation reserve 23 - NCI (62) (68) Total Accumulated Deficiency (13,722) (7,549)
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OSTOW LIMITED – FINANCIAL STATEMENTS 9 Statement of Cash Flows for the year ended 30 June 2026 2026 $’000 2025 $’000 Cash Flows from Operating Activities Receipts from members 39,855 36,406 Other income 4,982 5,295 Operating expenditure (19,591) (17,884) Employee payments (10,703) (9,792) Payment of rental deposits (850) (682) Net Cash Flows from Operating Activities 13,693 13,343 Cash Flows from Investing Activities Payments for investments (713) (887) Proceeds from sale of investments 1,665 1,200 Distributions received 227 263 Loans repaid / (advanced) 222 (56) Payments for WOTSO software development asset - (297) Payments for property, plant and equipment (7,855) (4,180) Proceeds from sale of PPE 30 24 Net Cash Flows used in Investing Activities (6,424) (3,933) Cash Flows from Financing Activities Rental payments (13,542) (11,100) Landlord’s fitout incentives 2,012 890 Borrowings advanced 4,441 1,824 Interest received 396 208 Net Cash Flows from Financing Activities (6,693) (8,178) Net Increase in Cash and Cash Equivalents 576 1,232 Cash and cash equivalents at the beginning of the year 4,764 3,532 Cash and Cash Equivalents at End of the Year 5,340 4,764 All items are inclusive of GST where applicable.
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OSTOW LIMITED – FINANCIAL STATEMENTS 10 Reconciliation of Operating Cash Flows Note 2026 $’000 2025 $’000 Loss for the Year (6,012) (6,189) Non-Cash Flows in Loss: Depreciation and amortisation 5,6,10,11 14,422 14,276 Net interest paid 3,324 3,778 Share of equity accounted gain (227) (263) Other net remeasurement (gain) / loss 7 (57) 500 (Gain) / loss on disposal of assets (27) 238 Issue of shares to employees - 17 Foreign currency translation loss 15 - Changes in Working Capital: Decrease in trade and other receivables 10 301 Increase in trade and other payables 3,038 1,152 Increase in rental deposits (850) (681) Increase in provisions 62 238 Increase in unearned revenue - 3 Decrease in tenant cash bonds (5) (27) Net Cash Flows from Operating Activities 13,693 13,343
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OSTOW LIMITED – FINANCIAL STATEMENTS 11 Statement of Changes in Equity for the Year ended 30 June 2026 Attributable to Owners of Ostow Limited No. of Shares On issue Issued Capital $’000 Accumulated Losses $’000 Total $’000 NCI $’000 Foreign Currency Translation Reserve $’000 Total Equity (Accumulated Deficiency) $’000 Balance at 1 July 2025 161,748,524 11,495 (18,976) (7,481) (68) - (7,549) Loss for the year - - (6,012) (6,012) - - (6,012) Other comprehensive income - - - - - 23 23 Total Loss and Other Comprehensive Loss for the Year - - (6,012) (6,012) - 23 (5,989) Transactions with Owners in their Capacity as Owners Buy-back of shares (2,521,853) (184) - (184) - - (184) Issue of shares 6,311 - - - - - - Derecognition of Cookspace NCI - - (6) (6) 6 - - Total Transactions with Owners in their Capacity as Owners (2,515,542) (184) (6) (190) 6 - (184) Balance at 30 June 2026 159,232,982 11,311 (24,994) (13,683) (62) 23 (13,722) Attributable to Owners of Ostow Limited No. of Shares On issue Issued Capital $’000 Accumulated Losses $’000 Total $’000 NCI $’000 Foreign Currency Translation Reserve $’000 Total Equity (Accumulated Deficiency) $’000 Balance at 1 July 2024 162,176,344 11,520 (12,811) (1,291) (44) - (1,335) Loss for the year - - (6,165) (6,165) (24) - (6,189) Other comprehensive income - - - - - - - Total Loss and Other Comprehensive Loss for the Year - - (6,165) (6,165) (24) - (6,189) Transactions with Owners in their Capacity as Owners Buy-back of shares (451,328) (28) - (28) - - (28) Issue of shares 23,508 3 - 3 - - 3 Total Transactions with Owners in their Capacity as Owners (427,820) (25) - (25) - - (25) Balance at 30 June 2025 161,748,524 11,495 (18,976) (7,481) (68) - (7,549)
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OSTOW LIMITED – NOTES TO THE FINANCIAL STATEMENTS 12 1. Segment Reporting Identification of reportable operating segments: The Company operates in three business segments, being flexspace, investments, and corporate. This is based on the internal reports that are reviewed and used by the Board in assessing performance and in determining the allocation of resources. There is no aggregation of operating segments. Profit or Loss Flexspace $’000 Investments $’000 Corporate $’000 Total 2026 $’000 Flexspace $’000 Investments $’000 Corporate $’000 Total 2025 $’000 Revenue Revenue from WOTSO members 34,842 - - 34,842 31,475 - - 31,475 HealthSpace income - 437 - 437 - 398 - 398 Other property income - 957 - 957 - 878 - 878 Other income 7 - 4,976 4,983 11 - 5,284 5,295 Total Revenue 34,849 1,394 4,976 41,219 31,486 1,276 5,284 38,046 Expenses Other operating expenses (10,918) (531) (1,174) (12,623) (8,221) (1,509) (1,021) (10,751) Staff costs (5,447) (35) (5,283) (10,765) (4,837) - (5,211) (10,048) Director fees - - (270) (270) - - (270) (270) Variable lease (payments) / discounts (6,194) 122 - (6,072) (4,617) - - (4,617) Bad debt expenses (67) - - (67) (22) - - (22) Total Expenses (22,626) (444) (6,727) (29,797) (17,697) (1,509) (6,502) (25,708) Operating Profit / (Loss) 12,223 950 (1,751) 11,422 13,789 (233) (1,218) 12,338 Depreciation – fitout (3,766) (87) (19) (3,872) (3,855) (87) (13) (3,955) Depreciation – right of use lease asset (8,951) (738) - (9,689) (8,746) (738) - (9,484) Interest – right of use lease liability (3,667) (52) - (3,719) (3,883) (103) - (3,986) Amortisation - (346) (515) (861) - (322) (515) (837) Interest income 96 60 240 396 61 79 70 210 Share of equity accounted gain - - 227 227 - - 263 263 Other net remeasurement gain / (loss) 57 - - 57 - (500) - (500) Gain / (loss) on disposal of assets 27 - - 27 (238) - - (238) (Loss) / profit before income tax (3,981) (213) (1,818) (6,012) (2,872) (1,904) (1,413) (6,189)
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OSTOW LIMITED – NOTES TO THE FINANCIAL STATEMENTS 13 Balance Sheet Flexspace $’000 Investments $’000 Corporate $’000 Total 2026 $’000 Flexspace $’000 Investments $’000 Corporate $’000 Total 2025 $’000 Current Assets Cash and cash equivalents 86 297 4,957 5,340 699 232 3,833 4,764 Trade and other receivables 1,200 22 124 1,346 350 76 172 598 Total Current Assets 1,286 319 5,081 6,686 1,049 308 4,005 5,362 Non-Current Assets Investments - 1,391 2,302 3,693 - 678 3,967 4,645 WOTSO software development asset - 501 - 501 - 847 - 847 Rental deposits 2,612 - - 2,612 1,761 - - 1,761 Loans receivable - related parties - 920 33,520 34,440 - - 33,331 33,331 Goodwill and intangible assets - - 3,642 3,642 - - 4,157 4,157 Property, plant and equipment 16,958 291 48 17,297 14,448 729 31 15,208 Right of use lease asset 56,975 307 - 57,282 64,101 1,045 - 65,146 Total Non-Current Assets 76,545 3,410 39,512 119,467 80,310 3,299 41,486 125,095 Total Assets 77,831 3,729 44,593 126,153 81,359 3,607 45,491 130,457 Liabilities Current Liabilities Trade and other payables 3,594 160 1,021 4,775 2,610 110 799 3,519 Unearned revenue 377 - - 377 374 3 - 377 Deferred lease payments – COVID 19 - - 19 25 - - 25 Employee provisions 299 - 961 1,260 239 - 959 1,198 Tenant deposits 33 25 - 58 33 18 12 63 Make good provisions 764 - - 764 418 - - 418 Right of use lease liabilities 10,332 343 - 10,675 9,825 771 - 10,596 Total Current Liabilities 15,418 528 1,982 17,928 13,524 902 1,770 16,196 Non-Current Liabilities Loans payable – related party 783 - 61,308 62,091 - - 56,135 56,135 Fitout loan 250 - - 250 - - - - Deferred lease payments – COVID - - - - 11 - - 11 Make good provisions 1,553 - - 1,553 1,705 - - 1,705 Employee provisions 77 - 141 218 53 - 164 217 Right of use lease liabilities 57,835 - - 57,835 63,399 343 - 63,742 Total Non-Current Liabilities 60,498 - 61,449 121,947 65,168 343 56,299 121,810 Total Liabilities 75,916 528 63,431 139,875 78,692 1,245 58,069 138,006 Net Assets / (Liabilities) 1,915 3,201 (18,838) (13,722) 2,667 2,362 (12,578) (7,549)
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OSTOW LIMITED – NOTES TO THE FINANCIAL STATEMENTS 14 2. Cash Flow Management At the end of the year, the balance sheet showed current liabilities exceeded current assets by $11.2M (June 2025 - $10.8M) as well as a net liability position of $13.7M (June 2025 - $7.5M). The net current liability position is mainly due to lease payments and make good provisions totalling $11.4M (June 2025 - $11M) falling due within the next 12 months. Under accounting standards, the associated leased assets cannot be classified as current assets, though they would largely offset this shortfall. The net liability position is largely driven by the mechanics of the right of use leases which are in a net liability position of $13.5M (June 2025 - $11.3M). As existing leases mature and the number of new WOTSO locations as a proportion of the entire portfolio reduces, it is expected that this net liability position will reduce. The Group has positive operating cash flow and closely monitors liquidity. The Company also has an available line of credit with no fixed limit in the form of a loan agreement with WOTSO Property Trust (WPT), the trust to which it is stapled, making up the WOTSO group. As a member of the WOTSO group, WPT will be able to provide financial support to the Company if required. This financial support may be in the form of pausing, adjusting and deferring monthly rent payments, and advancing funds by way of loan. The majority of the lease liability referred to above relates to WPT owned properties. 3. Revenue Revenue is generated from month-to-month membership arrangements offered through the WOTSO FlexSpace brand. 2026 $’000 2025 $’000 Revenue from Contracts with Customers Revenue from WOTSO members (over time) 34,842 31,475 HealthSpace income (over time) 437 398 Other income – management fees (over time) 4,983 5,295 Total Revenue from Contracts with Customers 40,262 37,168 Other Revenue Other property income 957 878 Total Other Revenue 957 878 Total Revenue 41,219 38,046 Revenue from contracts with customers is recognised over time if: • the customer simultaneously receives and consumes the benefits as the entity performs; • the customer controls the asset as the entity creates or enhances it; or • the seller’s performance does not create an asset for which the seller has an alternative use and there is a right to payment for performance to date. Where the above criteria are not met, revenue is recognised at a point in time. All revenue streams from contracts with customers disclosed above are recognised over time as the customer simultaneously receives and consumes the benefits provided by the Group's performance as it occurs. Other property income is generated through leases with customers in the Group’s capacity as a lessor and is accounted for under AASB 16 on a straight-line basis in accordance with lease terms. 4. Operating Expenses 2026 $’000 2025 $’000 Utilities 3,470 2,715 Cleaning 2,594 2,521 Compliance and professional costs 1,391 602 Food and beverage 1,073 969 Repairs & maintenance 867 1,293 Advertising 575 519 Other operating expenses 2,653 2,132 Total 12,623 10,751 Other operating expenses includes other expenses incurred in the operation of the Group’s flexspace business and includes expenses related to plant hire, security, travel, merchant fees, events expenses, and general office.
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OSTOW LIMITED – NOTES TO THE FINANCIAL STATEMENTS 15 5. Property, Plant and Equipment 2026 $’000 2025 $’000 Fitout 40,994 35,601 Accumulated depreciation (23,697) (20,393) Total 17,297 15,208 Reconciliations of the written down values at the beginning and end of the current reporting period are set out below: 2026 $’000 2025 $’000 Carrying amount at the beginning of the year 15,208 15,623 Additions 6,004 3,799 Foreign currency translation loss (43) - Depreciation expense (3,872) (3,955) Disposals - (259) Carrying amount at the end of the year 17,297 15,208 6. Right of Use Lease Assets and Liabilities Right of use lease assets relate to leases at both third party and Group-owned properties. WOTSO leases premises to house its flexible workspace product under agreements of 5 to 10 years with, in some cases, options to extend. The leases have various escalation clauses. On renewal, the terms of the leases are renegotiated. 2026 $’000 2025 $’000 Right of use assets 117,866 116,041 Less: accumulated depreciation (60,584) (50,895) 57,282 65,146 Reconciliations of the written down values at the beginning and end of the current reporting period are set out below: 2026 $’000 2025 $’000 Carrying amount at the beginning of the year 65,146 63,339 Right of use assets – modifications* (1,596) 6,169 Remeasurement of right of use assets** 85 927 Additions*** 4,946 4,195 Landlord contributions**** (1,179) - Foreign currency translation loss (135) - Depreciation expense (9,689) (9,484) Disposals (296) - Carrying amount at the end of the year 57,282 65,146 *Modifications relate to the amendment of the WOTSO Melbourne lease to a 45% of turnover-based rental structure. **Remeasurements reflect revised contractual lease payments arising from changes in an index or rate used to determine amounts payable under existing lease liabilities. ***Additions relate to new leases entered for WOTSO Macquarie Park, Tea Tree Plus and Gregory Hills. ****Contributions represent amounts received from landlords towards the cost of WOTSO fitouts. Right of use lease liabilities are measured and repaid over the term of the lease. For lease commitment details refer to Note 25(d).
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OSTOW LIMITED – NOTES TO THE FINANCIAL STATEMENTS 16 2026 $’000 2025 $’000 Opening balance 74,338 68,257 Modifications and remeasurements (1,550) 7,098 Additions 4,752 5,049 Foreign currency translation loss (154) - Disposals (314) - Interest charged 3,719 3,986 Repayments (12,281) (10,052) Total Lease Liabilities 68,510 74,338 Current lease liabilities 10,675 10,596 Non-current lease liabilities 57,835 63,742 Total Lease Liabilities 68,510 74,338 North Strathfield Lease WOTSO is in dispute with its landlord at North Strathfield and since April 2024, has been paying rent at a lower rate of $350/sqm and accruing the difference in accordance with its accounting obligations. In December 2025, following interlocutory proceedings, WOTSO agreed to pay rent at 80% of the amount in the lease until otherwise determined by the Court. This resulted in WOTSO paying to the landlord $1.1M, reflecting the difference between $350/sqm and 80% of the amount payable under the lease from April 2024 to November 2025. At 30 June 2026, WOTSO had accrued $1.85M of unpaid rent under the lease, which was recorded within the current lease liability balance. Subsequent to year end, the matter was heard by the Court with the judgement pending as at the date of this report. 7. Other Net Remeasurement Gain / (Loss) 2026 2025 $’000 $’000 Gain on lease modifications 57 - Impairment loss on investments - (500) Total 57 (500) 8. Trade and Other Receivables 2026 $’000 2025 $’000 Trade receivables from WOTSO members 305 259 Trade receivables from related parties 80 161 Expected credit loss allowance (62) (31) Fitout contribution receivable 834 - Other receivables 189 209 Total 1,346 598 9. Investments 2026 $’000 2025 $’000 Equity accounted investments 3,428 4,545 Other investments 265 100 Total 3,693 4,645 Equity Accounted Investments Proportion of Ownership Interests 2026 Proportion of Ownership Interests 2025 2026 $’000 2025 $’000 Name of Associate Pyrmont Bridge Road Mortgage Fund (PBRMF) (1) 33% 54% 2,302 3,967 Vicinia (2) 49% 43% 1,126 578 IndigoBlack Constructions (3) 50% 50% - - Total 3,428 4,545
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OSTOW LIMITED – NOTES TO THE FINANCIAL STATEMENTS 17 (1) PBRMF provides a fixed return of 6% per annum secured by a 2nd registered mortgage on the property at 55 Pyrmont Bridge Road, Pyrmont, NSW. At 30 June 2026, the Group owned 2,302,405 units at a price of $1/unit. (2) Vicinia is a software development company, primarily focused on development of the flexspace CRM platform, Hamlet. Further details on Hamlet are provided in Note 10. (3) IndigoBlack Construction is a construction company extensively engaged by the Group for the development and construction of WOTSO fitouts. The information disclosed below reflects the amounts presented in the financial results of each joint venture and associate and not the Group’s share of those amounts. They have been amended to reflect adjustments made by the entity when using the equity method, including impairments, fair value adjustments and modifications for differences in accounting policy. PBRMF Vicinia IndigoBlack 2026 2025 2026 2025 2026 2025 Financial Position $’000 $’000 $’000 $’000 $’000 $’000 Current assets 117 122 93 57 211 375 Non-current assets 7,000 7,300 654 146 40 40 Current liabilities (112) (117) (2) (6) (45) (220) Non-current liabilities - - - - (152) (141) Net Assets 7,005 7,305 745 197 54 54 PBRMF Vicinia IndigoBlack 2026 2025 2026 2025 2026 2025 Profit or Loss $’000 $’000 $’000 $’000 $’000 $’000 Revenue 470 504 83 336 2,280 1,863 Profit for the year 434 465 - - - - Other comprehensive income - - - - - - Total Profit 434 465 - - - - Distributions Received 227 263 - - - - PBRMF Vicinia IndigoBlack Reconciliation of Carrying Amounts 2026 2025 2026 2025 2026 2025 $’000 $’000 $’000 $’000 $’000 $’000 Opening balance 3,967 5,167 578 291 - - Acquisitions 300 - 548 287 - 500 Disposals (1,965) (1,200) - - - - Share of gain 227 263 - - - - Impairment loss - - - - - (500) Distributions received (227) (263) - - - - Closing Balance 2,302 3,967 1,126 578 - - Other Investments 2026 $’000 2025 $’000 BubbaDesk Pty Ltd 265 100 Total 265 100 In January 2025, WOTSO commenced a strategic alliance with BubbaDesk to integrate coworking and onsite childcare at selected WOTSO locations. During the year, WOTSO increased its investment as BubbaDesk expanded across the WOTSO network with new offerings in the Group’s Dickson property as well as within the Pyrmont and Alerik properties. 10. WOTSO Software Development Asset Over recent years, the Group has undertaken a project to develop a proprietary software to support the management of its operations and customer invoicing. The software, known as Hamlet, was developed in collaboration with external developers and commenced commercialisation in 2022. The Group holds a perpetual licence to use the software, and during the year, increased its ownership interest in the associated business to 49% (Jun 2025 – 43%). At 30 June 2026, the Group had contributed $501,000 net of amortisation (Jun 2025 - $847,000) to fund the development of the software and increased its investment in associate to $1.1M (Jun 2025 - $578,000). During the year, $346,000 of amortisation (2025 - $322,000) was recognised as an expense in the Statement of Profit or Loss and Other Comprehensive Income.
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OSTOW LIMITED – NOTES TO THE FINANCIAL STATEMENTS 18 11. Intangible Assets and Goodwill The Group’s intangible assets of $2.3M (June 2025 - $2.8M) comprise management rights acquired through the internalisation transaction completed in February 2024. These management rights are deemed to have a finite useful life and are measured at cost and amortised using the straight-line method over the estimated remaining useful life of 7 years. During the year, amortisation of $515,000 (2025 - $515,000) was recognised as an expense in the Statement of Profit or Loss and Other Comprehensive Income. Goodwill of $1.34M (June 2025 - $1.34M) was generated through the internalisation of management transaction in 2024 and added to the flexspace CGU. No events or changes in circumstances indicate any impairment of goodwill at 30 June 2026. Sensitivity As disclosed above, the Directors have applied judgements and estimates in testing goodwill for impairment. Should these judgements and estimates not occur as expected, the carrying amount of goodwill may decrease. The sensitivities are as follows: • the date at which locations meet maturity would need to be delayed by over 14 years for goodwill to be impaired, with all other assumptions remaining constant; • the discount rate would need to increase to 20% for goodwill to be impaired, with all other assumptions remaining constant; and • WOTSO maturity desk prices would need to decrease by 9% for goodwill to be impaired, with all other assumptions remaining constant. Management believes that other reasonable changes in the key assumptions on which the recoverable amount of WOTSO’s goodwill is based would not cause the cash-generating unit’s carrying amount to exceed its recoverable amount. 12. Rental Deposits 2026 2025 $’000 $’000 Lease rental deposits 1,196 657 Term deposit for bank guarantees 1,416 1,104 Total Rental Deposits 2,612 1,761 13. Loan Portfolio 2026 2025 $’000 $’000 Loan receivable – Planloc Limited 32,120 32,251 Loan receivable – IndigoBlack - 91 Loan receivable – BH Melbourne 1,400 - Loan receivable – Employees 920 989 Total Loan Portfolio 34,440 33,331 The loan to Planloc Limited is for a term of 5 years from June 2023. The loan to IndigoBlack, which had a term of six months from June 2025, was fully repaid during the year The loans are unsecured and interest is chargeable at the discretion of the lender. No interest was charged on the Planloc loan during the year (2025 - $nil). Interest of $5,000 was charged on the IndigoBlack loan during the year (2025 - $7,000). The loan to BH Melbourne was advanced during the year on a 3-year term from April 2026 and interest charged at a rate of 2.25% above the cash rate. The loan is secured by the property at level 3, 11-19 Bank Place, Melbourne Victoria. The employee loans are subject to interest charged at 2% over the RBA cash rate, and are secured over WOTSO securities and BlackWall Limited shares which were valued at $413,000 at 30 June 2026 based on the quoted ASX price of both securities. The loans have no fixed repayment term and are repayable on demand or upon the relevant employee ceasing employment with the Group, whichever occurs first. Although repayable on demand, the Directors do not expect to demand repayment of the employee loans within the next twelve months. The loans are expected to reduce over time as distributions received on the securities held as security are applied against the outstanding balance, and are accordingly classified as non-current.
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OSTOW LIMITED – NOTES TO THE FINANCIAL STATEMENTS 19 14. Trade and Other Payables 2026 $’000 2025 $’000 Current trade and other payables 2,516 1,829 Current payables to related parties 475 520 Total Trade and Other Payables 2,991 2,349 Accrued expenses 1,309 852 Sundry payables 475 318 Total Trade and Other Payables, Accruals and Sundry Payables 4,775 3,519 15. Provisions 2026 2025 $’000 $’000 Current – employee benefits 1,260 1,198 Non-current – employee benefits 218 217 Total Employee Benefits Provisions 1,478 1,415 Employee benefit provisions relate to annual leave and long service leave payable to employees. At 30 June 2026 the Group had 123 employees (2025 - 118). Make good provisions - current 764 418 Make good provisions – non-current 1,553 1,705 Total Make Good Provisions 2,317 2,123 Total Provisions 3,795 3,538 Make good provisions represent the estimated costs to restore leased premises to the condition required under the lease. These amounts have been discounted using the same rate applied to the underlying lease liability, in accordance with AASB 16. 16. Borrowings 2026 $’000 2025 $’000 Loan from related party – WPT 62,091 56,135 Total Non-Current Borrowings 62,091 56,135 The borrowings from WPT are unsecured and are subject to interest charged at 2.0% over the RBA cash rate over a loan term expiring June 2031. Interest is chargeable at the discretion of the lender. No interest was charged during the year (2025 - $nil). 17. Income Tax 2026 $’000 2025 $’000 Reconciliation of prima facie tax payable to income tax (Loss) / profit before income tax (6,012) (6,189) Expected tax (benefit) / expense at 25% (1,503) (1,547) Timing differences not recognised 1,503 1,543 Other / sundry - 4 Total Income Tax Benefit - - The below table shows a breakdown of the tax value of the Company’s other net deferred tax asset balances not recognised. The Group had not recognised these at 30 June 2026 due to uncertainty around the Group’s ability to recoup these in the short to medium term. The recoupment and realisation of the deferred tax assets will be determined by reference to each respective taxpayer of the Group. As such, tax losses (and other deferred tax assets) incurred by the Company will be available to offset its future taxable income and not the other members of the Group (subject to the Company meeting the relevant loss recoupment tests).
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OSTOW LIMITED – NOTES TO THE FINANCIAL STATEMENTS 20 2026 $’000 2025 $’000 Right of use leases 2,924 2,356 Accruals and provisions 517 624 Prepayments (43) (45) Fixed asset depreciation and amortisation (865) (1,167) Investments - 250 Management rights (575) (703) Carried forward tax losses 3,203 2,388 Other 19 - Total Unrecognised Net Deferred Tax Assets 5,180 3,703 18. Auditor’s Remuneration ESV Remuneration for: 2026 $ 2025 $ Audit and assurance services 86,000 57,000 Taxation and other services 14,000 19,000 Total 100,000 76,000 19. Issued Capital 2026 2025 2026 2025 Shares Shares $’000 $’000 At the beginning of the year 161,748,524 162,176,344 11,495 11,520 Buy-back of issued shares (2,521,853) (451,328) (184) (28) Issue of new shares 6,311 23,508 - 3 At the End of the Year 159,232,982 161,748,524 11,311 11,495 20. Contingent Liabilities As disclosed in Note 6, the Group has accrued $1.85M in rent payable under the North Strathfield lease. In addition to this amount, it is estimated that further legal costs and disbursements of approximately $80,000 will be incurred during the legal proceedings. This amount has not been recognised in the financial statements at 30 June 2026 as the outcome of the dispute and the associated liability for legal costs remain uncertain. 21. Parent Entity Information The Company has been identified as the parent entity (Parent Entity) Results: 2026 2025 $’000 $’000 Loss after tax (102) (107) Total Comprehensive Loss After Tax (102) (107) Financial Position: Current assets 19 76 Non-current assets 8,500 8,590 Total Assets 8,519 8,666 Current liabilities (288) (277) Non-current liabilities (1,480) (1,352) Total Liabilities (1,768) (1,629) Net Assets 6,751 7,037 Share capital 11,311 11,495 Accumulated losses (4,560) (4,458) Total Equity 6,751 7,037
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OSTOW LIMITED – NOTES TO THE FINANCIAL STATEMENTS 21 Contingent Liabilities The Parent Entity had no contingent liabilities at 30 June 2026 and 30 June 2025. Capital Commitments The Parent Entity had no capital commitments for property, plant and equipment at 30 June 2026 and 30 June 2025. Material Accounting Policies The accounting policies of the Parent Entity are consistent with those of the Group, as disclosed in Note 28. 22. Controlled Entities Name Percentage Owned 2026 2025 Parent Entity: Ostow Limited N/A N/A Controlled Entities: 76 Brunswick Street Pty Ltd 100% 100% Ada Avenue Brookvale Pty Ltd 100% 100% Flinders Street Pty Ltd 100% 100% Gymea Bay Road Pty Ltd 100% 100% Gymea Bay Road Unit Trust 100% 100% Macquarie Hobart Pty Ltd 100% 100% Military Road Cremorne Pty Ltd 100% 100% Northbourne Dickson Pty Ltd 100% 100% Ormsby Terrace Pty Ltd 100% 100% Ostow Investments Pty Ltd 100% 100% Ostow NZ Investments Limited 100% 100% Ostow Property Management Pty Ltd 100% 100% Pioneer Road Yandina Pty Ltd 100% 100% PYT Unit Trust 100% - Tudor Street Newcastle Pty Ltd 100% 100% Wormald Symonston Pty Ltd 100% 100% WOT Custodian Pty Ltd 100% 100% WOTSO Pty Ltd 100% 100% WOTSO Adelaide Pty Ltd 100% 100% WOTSO Alerik Pty Ltd 100% - WOTSO Austrump Pty Ltd 100% 100% WOTSO Ballarat Pty Ltd 100% - WOTSO Barracks Pty Ltd 100% 100% WOTSO Belmont Limited 100% 100% WOTSO Blacktown Pty Ltd 100% 100% WOTSO Bondi Junction Pty Ltd 100% 100% WOTSO Botany Pty Ltd 100% 100% WOTSO Brookvale Pty Ltd 100% 100% WOTSO Bundaberg Pty Ltd 100% - WOTSO Chermside Pty Ltd 100% 100% WOTSO CookSpace Pty Ltd 100% 50% WOTSO Coworking Cafe Pty Ltd 100% 100% WOTSO Cremorne Pty Ltd 100% 100% WOTSO Dandenong Pty Ltd 100% - WOTSO Dickson Pty Ltd 100% 100% WOTSO Employment Services Pty Ltd 100% 100% WOTSO External Pty Ltd 100% 100% WOTSO Fortitude Valley Pty Ltd 100% 100% WOTSO Fund Services Limited 100% 100% WOTSO Geelong Pty Ltd 100% - WOTSO Gold Coast Pty Ltd 100% 100% WOTSO Gregory Hills 100% 100% WOTSO HealthSpace Pty Ltd 50% 50% WOTSO Hobart Pty Ltd 100% 100% WOTSO Holdings Pty Ltd 100% 100% WOTSO Internal Pty Ltd 100% 100% WOTSO Jamisontown Pty Ltd 100% 100% WOTSO Kogarah Pty Ltd 100% 100% WOTSO Liverpool Pty Ltd 100% 100% WOTSO Macarthur Square Pty Ltd 100% 100% WOTSO Macquarie Park Pty Ltd 100% - WOTSO Macquarie Park Cafe Pty Ltd 100% - WOTSO Mandurah Pty Ltd 100% 100%
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OSTOW LIMITED – NOTES TO THE FINANCIAL STATEMENTS 22 WOTSO Manly Pty Ltd 100% - WOTSO Melbourne Pty Ltd 100% 100% WOTSO Mulgrave Pty Ltd 100% - WOTSO Murarrie Pty Ltd 100% - WOTSO Newcastle Pty Ltd 100% 100% WOTSO North Sydney Pty Ltd 100% 100% WOTSO Norwest Pty Ltd 100% - WOTSO NZ Employment Services Limited 100% 100% WOTSO NZ External Limited 100% 100% WOTSO NZ Holdings Limited 100% 100% WOTSO NZ Internal Limited 100% 100% WOTSO Penrith Pty Ltd 0% 100% WOTSO Pyrmont Pty Ltd 100% 100% WOTSO RA Services Pty Ltd 100% - WOTSO Rhodes Pty Ltd 100% 100% WOTSO Robina Pty Ltd 100% 100% WOTSO Services Pty Ltd 100% 100% WOTSO Services 1 Pty Ltd 100% 100% WOTSO Services 2 Pty Ltd 100% 100% WOTSO Services 2 Unit Trust 100% 100% WOTSO Services 3 Pty Ltd 100% 100% WOTSO Spare Pty Ltd 100% 100% WOTSO Storage Space Pty Ltd 100% 100% WOTSO Sunshine Coast Pty Ltd 100% 100% WOTSO Sydney CC Pty Ltd 100% 100% WOTSO Symonston Pty Ltd 100% 100% WOTSO Takapuna Limited 100% 100% WOTSO Te Toangaroa Limited 100% 100% WOTSO Tea Tree Pty Ltd 100% 100% WOTSO Toowoomba Pty Ltd 100% 100% WOTSO Wellington Limited 100% - WOTSO Whangarei Limited 100% 100% WOTSO Woden Pty Ltd 100% 100% WOTSO Wollert Pty Ltd 100% 100% WOTSO Zetland Pty Ltd 100% 100% WRV Pty Ltd 100% 100% Yandina Industrial Mortgage Fund 100% - Yeost Lease Pty Ltd 100% 100% 23. Related Party Transactions Related Parties In these financial statements, related parties are parties as defined by AASB 124 Related Party Disclosures rather than the definition of related parties under the Corporations Act 2001 (Cth) and ASX Listing Rules. Associates Interests held in associates by the Group are set out in Note 9. (a) Transactions With Related Entities The Group pays rent for leased premises owned by related parties, with rent determined at arm’s length commercial rates. In addition, the Group incurs costs related to fitouts, management fees, distributions, and general expenses such as car parking and cleaning. The Group also earns revenue from related parties, including interest income, and income from flexspace operations. All transactions with related parties were conducted on normal commercial terms and at market rates and were approved by the Board where applicable. The following transactions occurred during the year, and the related balances remained outstanding at year end between the Group and its related entities. 2026 $ 2025 $ Revenue: Interest income 231,551 271,724 Other revenue 841,417 2,559,155 Management fees 4,214,645 4,026,169 Total Revenue 5,287,613 6,587,048
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OSTOW LIMITED – NOTES TO THE FINANCIAL STATEMENTS 23 Expenses: Rent and outgoings paid 8,223,561 7,684,235 Fitout 24,609 214,184 Software development costs - 270,000 Other expenses 1,914,922 1,295,460 Total Expenses 10,163,092 9,463,879 Outstanding balances: Trade and other receivables 137,403 160,886 Trade and other payables 478,828 519,920 Loans receivable 33,519,772 32,341,565 Loans payable 62,091,453 56,135,264 (b) Remuneration of Key Management Personnel The remuneration of the KMP of the Group, is set out below in aggregate for each of the categories specified in AASB 124 Related Party Disclosures. 2026 2025 $ $ Short-term benefits 629,200 628,461 Post-employment benefits 30,000 30,115 Total KMP compensation 659,200 658,576 24. EPS 2026 $’000 2025 $’000 Loss after income tax 6,012 6,189 NCI - (24) Loss after income tax attributable to shareholders of Ostow Limited 6,012 6,165 Number Number Weighted number of ordinary shares used in calculating basic and diluted EPS 161,281,868 162,153,948 Cents Cents Basic and diluted EPS (3.7) (3.8) 25. Financial Risk Management (a) Financial risk management The main risks the Group is exposed to through its financial instruments are market risk (including interest rate risk and price risk), credit risk and, liquidity risk. The Group’s principal financial instruments are cash and cash equivalents, financial assets and loans payable. Additionally, the Group has various other financial instruments such as trade debtors, lease rental deposits and trade creditors, which arise directly from its operations. This note presents information about the Group’s exposure to each of the above risks, its objectives, policies, and processes for measuring and managing risk, and the management of capital. The Board has overall responsibility for the establishment and overseeing of the risk management framework. It monitors the Group’s risk exposure by regularly reviewing finance and property markets. The Group holds the following major financial instruments: 2026 $’000 2025 $’000 Financial assets Cash and cash equivalents 5,340 4,764 Trade and other receivables 1,346 598 Rental deposits 2,612 1,761 Loans receivable – related party 34,440 33,331 Financial liabilities Trade and other payables 4,775 3,519 Loans payable – related party 62,091 56,135 Lease liabilities 68,510 74,338
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OSTOW LIMITED – NOTES TO THE FINANCIAL STATEMENTS 24 (b) Sensitivity analysis The Group is exposed to currency risk through its New Zealand subsidiaries, which operate their flexspace business in New Zealand Dollars (NZD). Management considers this risk to be low due given the relative parity and historical low volatility between the Australian Dollar and the NZD. The Group is not exposed to any material credit, interest rate, or liquidity risks. (c) Capital management The Group’s objectives when managing capital are to: • safeguard its ability to continue as a going concern so that it can continue to provide returns for shareholders and benefits for other stakeholders, and • maintain an optimal capital structure to reduce the cost of capital. In order to maintain or adjust the capital structure, the Group may adjust the dividends paid to shareholders, issue new shares, buy-back shares, and purchase or sell assets. (d) Liquidity risk Maturing within 1 year $’000 Maturing in 2-5 years $’000 Maturing in over 5 years $’000 Total $’000 At 30 June 2026 Trade and other payables 4,775 - - 4,775 Borrowings - 62,091 - 62,091 Lease liabilities 10,675 23,851 33,984 68,510 15,450 85,942 33,984 135,376 At 30 June 2025 Trade and other payables 3,519 - - 3,519 Borrowings - 56,135 - 56,135 Lease liabilities 10,596 19,914 43,828 74,338 14,115 76,049 43,828 133,992 26. Subsequent Events Subsequent to year end, the dispute with WOTSO’s landlord at North Strathfield (referred to in Notes 6 and 20) was heard by the Court, with the judgment pending as of this report date. With the exception of the above, to the best of the Directors' knowledge, since the end of the year there have been no matters or circumstances that have materially affected the Group's operations or may materially affect its operations, state of affairs, or the results of operations in future years. 27. Critical Accounting Estimates and Judgements The Directors evaluate estimates and judgements incorporated into the financial statements based on historical knowledge and best available current information. Estimates assume a reasonable expectation of future events and are based on current trends in economic data obtained both externally and within the Group. Goodwill and Other Indefinite Life Intangible Assets The Group tests annually, or more frequently if events or changes in circumstances indicate impairment, whether goodwill and other indefinite life intangible assets have suffered any impairment in accordance with the accounting policy stated in Note 28. The recoverable amounts of cash-generating units have been determined based on value-in-use calculations. These calculations require the use of assumptions, including estimated discount rates based on the current cost of capital and growth rates of the estimated future cash flows. Lease Term for Right of Use Lease Assets and Liabilities The lease term is a significant component in the measurement of both the right of use lease asset and liability. Judgement is exercised in determining whether there is reasonable certainty that an option to extend the lease or purchase the underlying asset will be exercised, or an option to terminate the lease will not be exercised, when ascertaining the periods to be included in the lease term. In determining the lease term, all facts and circumstances that create an economic incentive to exercise an extension option, or not to exercise a termination option, are considered at the lease commencement date. Factors considered may include the importance of the asset to the Group’s operations; comparison of terms and conditions to prevailing market rates; incurrence of significant penalties; existence of significant leasehold improvements; and the cost and disruption to replace the asset. The Group reassesses whether it is reasonably certain to exercise an extension option, or not exercise a termination option, if there is a significant event or change in circumstances.
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OSTOW LIMITED – NOTES TO THE FINANCIAL STATEMENTS 25 Lease Make Good Provisions Whenever the Group incurs an obligation to dismantle and remove property from leased premises, restore premises in which it is located, or restore the underlying asset to the condition required under the lease, a provision is recognised and measured. Judgement is exercised in estimating the present value of these costs. The Group reviews these estimates at each reporting period and adjusts them if there is a significant event or change in circumstance. Incremental Borrowing Rate Where the interest rate implicit in a lease cannot be readily determined, an incremental borrowing rate is estimated to discount future lease payments to measure the present value of the lease liability at the lease commencement date. Such rate is based on what the Group estimates it would have to pay a third party to borrow the funds necessary to obtain an asset of a similar value to the right of use asset, with similar terms, security and economic environment. 28. Material Accounting Policies The financial statements cover the Group, which comprises Ostow Limited and its controlled entities. All are incorporated and domiciled in Australia, with the exception of 10 controlled entities incorporated and domiciled in New Zealand. The financial statements for the Group were authorised for issue in accordance with a resolution of the Directors on the date they were issued. Basis of Preparation These general-purpose financial statements have been prepared in accordance with Australian Accounting Standards and other authoritative pronouncements of the AASB and the Corporations Act 2001 (Cth). The financial statements also comply with International Financial Reporting Standards issued by the International Accounting Standards Board. The financial statements have been prepared on an accruals basis and are based on historical costs modified by the revaluation of selected non-current assets, financial assets and financial liabilities for which the fair value basis of accounting has been applied. The following is a summary of the material accounting policies adopted by the Group in the preparation of the financial statements. The accounting policies have been consistently applied, unless otherwise stated. Going Concern These financial statements have been prepared on a going concern basis, which contemplates continuity of normal business activities and the realisation of assets and settlement of liabilities in the ordinary course of business. The Group is in a net current liability and a net liability position, as described in Note 2. However, many of the WOTSO locations are in the build-up phase and profitability is expected to improve. The Group earned positive cash flows from operations during the year and projects it will have sufficient cash balances to pay debts as they fall due. Forecasts for the next twelve months suggest enough liquidity for it to be appropriate for the Company to continue as a going concern. Additionally, short-term funding may be obtained from related parties if needed. Comparative Figures When required by Accounting Standards, comparative figures have been adjusted to conform to changes in presentation for the current year. Any change of presentation has been made to make the financial statements more relevant and useful to the user. Segment Reporting AASB 8 requires operating segments to be identified on the basis of internal reports about components of the Group that are regularly reviewed by the Chief Operating Decision Makers (CODM) to allocate resources to the segment and to assess its performance. Operating segments are presented using the 'management approach', where the information presented is on the same basis as the internal reports provided to the CODM. The CODM are responsible for the allocation of resources to operating segments and assessing their performance. Presentation Currency Both the functional and presentation currency of the Group is Australian dollars. Functional currency NZD results are translated to presentation currency. Principles of Consolidation The consolidated financial statements comprise the financial statements of the Group and its subsidiaries. All controlled entities have a June financial year end and use consistent accounting policies. Investments in subsidiaries held by the Group are accounted for at cost, less any impairment charges. Subsidiaries are all those entities over which the Company has control. The Company controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and can affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Company. They are de-consolidated from the date that control ceases.
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OSTOW LIMITED – NOTES TO THE FINANCIAL STATEMENTS 26 Inter-Company Balances All inter-company balances and transactions between entities in the Group, including any unrealised profits or losses, have been eliminated on consolidation. Accounting policies of subsidiaries have been changed where necessary to ensure consistencies with those policies applied by the Company. Property, Plant and Equipment Property, plant and equipment is measured on the cost basis, less accumulated depreciation and impairment losses. The cost of replacing part of an item of property, plant and equipment is recognised in the carrying amount of the item if it is probable that the future economic benefits embodied within the part will flow to the Group, and its cost can be measured reliably. The carrying amount of the replaced part is derecognised. The costs of day-to-day servicing of property, plant and equipment are recognised in profit or loss as incurred. Depreciation The depreciable amount of all fixed assets is depreciated on a diminishing value basis over their useful lives to the Group commencing from the time the asset is held ready for use. The estimated useful lives used for each class of depreciable assets are: Furniture, fixtures and fittings 2-10 years Office equipment 2-10 years Leasehold improvements lesser of 10 years and expected remaining lease term Right of use assets remaining lease terms, including any options where they are reasonably certain to be exercised. At each balance sheet date, assets' residual values and useful lives are reviewed, particularly with reference to the remaining expected lease term of each location and adjusted if appropriate. Disposal An item of property, plant and equipment is derecognised upon disposal or when no further economic benefits are expected from its use or disposal. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the profit or loss in the year the asset is derecognised. Internally Generated Intangible Assets Expenditure on research activities is recognised as an expense in the year in which it is incurred. An internally generated intangible asset arising from development is recognised if, and only if, all the following conditions have been demonstrated: - The technical feasibility of completing the intangible asset so that it will be available for use or sale. - The intention to complete the intangible asset and use or sell it. - The ability to use or sell the intangible asset. - How the intangible asset will generate probable future economic benefits. - The availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset. - The ability to measure reliably the expenditure attributable to the intangible asset during its development. The amount initially recognised for internally generated intangible assets is the sum of the expenditure incurred from the date when the intangible asset first meets the recognition criteria listed above. Where no internally generated intangible asset can be recognised, development expenditure is recognised in profit or loss in the year in which it is incurred. Subsequent to initial recognition, internally generated intangible assets are reported at cost less accumulated amortisation and accumulated impairment losses. Amortisation is calculated on a straight-line basis over the expected useful life of the intangible asset as follows: Software development 5 years The estimated useful life and amortisation methods are reviewed at the end of each reporting period, with the effect of any changes in estimate being accounted for on a prospective basis. Impairment of Assets At each reporting date, the Group reviews the carrying values of its tangible and intangible assets to determine whether there is any indication that those assets have been impaired. If such an indication exists, the recoverable amount of the asset, being the higher of the asset's fair value less costs to sell and value in use, is compared to the asset's carrying value. In assessing value in use, either the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessment of the time value of money and the risks specific to the asset, or the income of the asset is capitalised at its relevant capitalisation rate.
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OSTOW LIMITED – NOTES TO THE FINANCIAL STATEMENTS 27 An impairment loss is recognised if the carrying value of an asset exceeds its recoverable amount. Impairment losses are expensed to the profit or loss. Impairment losses recognised in prior years are assessed at each reporting date for any indication that the loss has decreased or no longer exists. An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount. An impairment loss is reversed only to the extent that the asset's carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortisation, if no impairment loss has been recognised. Right of Use Lease Assets A right of use asset is recognised at the commencement date of a lease. The right of use asset is measured at cost, which comprises the initial amount of the lease liability, adjusted for, as applicable, any lease payments made at or before the commencement date net of any lease incentives received, any initial direct costs incurred, and, except where included in the cost of inventories, an estimate of costs expected to be incurred for dismantling and removing the underlying asset and restoring the location or asset. Right of use assets are depreciated on a straight-line basis over the unexpired period of the lease or the estimated useful life of the asset, whichever is the shorter. Where the Group expects to obtain ownership of the leased asset at the end of the lease term, the depreciation is over its estimated useful life. Right of use assets are subject to impairment or adjusted for any remeasurement of lease liabilities. The Group has elected not to recognise a right of use asset and corresponding lease liability for short-term leases with terms of 12 months or less, and leases of low-value assets. Lease payments on these assets are expensed to profit or loss as incurred. Lease Liabilities A lease liability is recognised at the commencement date of a lease. The lease liability is initially recognised at the present value of the lease payments to be made over the term of the lease, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Group's incremental borrowing rate. Lease payments comprise fixed payments less any lease incentives receivable, variable lease payments that depend on an index or a rate, amounts expected to be paid under residual value guarantees, exercise price of a purchase option when the exercise of the option is reasonably certain to occur, and any anticipated termination penalties. The variable lease payments that do not depend on an index or a rate are expensed in the year in which they are incurred. Lease liabilities are measured at amortised cost using the effective interest method. The carrying amounts are remeasured if there is a change in the following: future lease payments arising from a change in an index or a rate used; residual guarantee; lease term; or certainty of a purchase option and termination penalties. When a lease liability is remeasured, an adjustment is made to the corresponding right of use asset, or to profit or loss if the carrying amount of the right of use asset is fully written down. Intangible Assets Intangible assets acquired as part of a business combination, other than goodwill, are initially measured at their fair value at the date of the acquisition. Intangible assets acquired separately are initially recognised at cost. Indefinite life intangible assets are not amortised and are subsequently measured at cost less any accumulated impairment losses. Finite life intangible assets are subsequently measured at cost less accumulated amortisation and any accumulated impairment losses. The gains or losses recognised in profit or loss arising from the derecognition of intangible assets are measured as the difference between net disposal proceeds and the carrying amount of the intangible asset. The method and useful lives of finite life intangible assets are reviewed annually. Changes in the expected pattern of consumption or useful life are accounted for prospectively by changing the amortisation method or period. Amortisation of finite life intangible assets is calculated on a straight-line basis over the expected useful lives of the asset as follows: Management rights 7 years Goodwill Goodwill arises on the acquisition of a business. Goodwill is not amortised. Instead, goodwill is tested annually for impairment, or more frequently if events or changes in circumstances indicate that it might be impaired, and is carried at cost less accumulated impairment losses. Impairment losses on goodwill are recognised in profit or loss and are not subsequently reversed. Financial Instruments Non-Derivative Financial Instruments Non-derivative financial instruments comprise investments in equity and debt securities, trade and other receivables, cash and cash equivalents, loans and borrowings, and trade and other payables. Non-derivative financial instruments are recognised at fair value plus, for instruments not at fair value through profit or loss, any directly attributable transaction costs. Subsequent to initial recognition, non- derivative financial instruments are measured as described below.
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OSTOW LIMITED – NOTES TO THE FINANCIAL STATEMENTS 28 Recognition A financial instrument is recognised if the Group becomes a party to the contractual provisions of the instrument. Financial assets are derecognised if the Group's contractual rights to the cash flow from the financial assets expire or if the Group transfers the financial assets to another party without retaining control of substantially all risks and rewards of the asset. Purchases and sales of financial assets are accounted for at trade date, i.e. the date that the Group commits itself to purchase or sell the asset. Financial liabilities are derecognised if the Group's obligations specified in the contract expire or are discharged or cancelled. Financial Assets Financial assets are initially measured at fair value. Transaction costs are included as part of the initial measurement, except for financial assets at fair value through profit or loss. Such assets are subsequently measured at either amortised cost or fair value depending on their classification. Classification is determined based on both the business model within which such assets are held and the contractual cash flow characteristics of the financial asset unless an accounting mismatch is being avoided. Financial assets not measured at amortised cost are classified as financial assets at fair value through profit or loss. Typically, such financial assets will be either: (i) held for trading, where they are acquired for the purpose of selling in the short-term with an intention of making a profit, or a derivative; or (ii) designated as such upon initial recognition where permitted. Fair value movements are recognised in profit or loss. (i) Equity Investments All equity investments are measured at fair value. Equity investments that are held for trading are measured at fair value through profit or loss. (ii) Loans and Receivables Loans and receivables include loans to related entities. They are subsequently measured at amortised cost, less any allowance for expected credit losses. Gains and losses are recognised in profit or loss when the loans and receivables are derecognised or impaired, as well as through the amortisation process. Impairment At each reporting date, the Group assesses whether there is objective evidence that a financial instrument has been impaired. A financial instrument is considered to be impaired if objective evidence indicates that one or more events have had a negative effect on the estimated future cash flows of that asset. Individually significant financial instruments are tested for impairment on an individual basis. The remaining financial assets are assessed collectively in groups that share similar credit risk characteristics. Impairment losses are recognised in profit or loss. An impairment loss is reversed if the reversal can be related objectively to an event occurring after the impairment loss was recognised. For financial instruments measured at amortised cost, the reversal is recognised in profit or loss. Financial Liabilities Non-derivative financial liabilities are recognised at amortised cost, comprising original debt less principal payments and amortisation. Investments in Associates Investments in associate companies are recognised in the financial statements by applying the equity method of accounting where significant influence is exercised over an investee. Significant influence exists where the investor has the power to participate in the financial and operating policy decisions of the investee but does not have control or joint control over those policies. Under the equity method of accounting, investments in associates are carried in the consolidated balance sheet at cost plus post-acquisition changes in the Group's share of net assets of the associates. The Group's share of its associates' post-acquisition profits or losses is recognised in the income statement, and its share of post-acquisition movements in reserves is recognised in reserves. The cumulative post-acquisition movements are adjusted against the carrying amount of the investment. When the Group's share of losses exceeds its interest in an equity accounted investee, the carrying amount of the interest is reduced to nil and the recognition of further losses is discontinued except to the extent that the Group has an obligation or has made payments on behalf of the investee. Cash and Cash Equivalents Cash and cash equivalents include cash on hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts. Trade and Other Receivables Trade receivables are recognised and carried at the original invoice amount less an allowance for any expected credit losses. An estimate for expected credit losses is made when there is objective evidence that the Group will not be able to collect the receivable. Financial difficulties of the debtor and default payments are considered objective evidence of impairment. Bad debts are written off when identified as uncollectable.
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OSTOW LIMITED – NOTES TO THE FINANCIAL STATEMENTS 29 Trade and Other Payables Trade and other payables are carried at cost, which is the fair value of the consideration to be paid in the future for goods or services received, whether or not billed to the Group at balance date. The amounts are unsecured and are usually paid within 30 days of recognition. Interest Bearing Borrowings Interest bearing borrowings are initially recognised at fair value less any related transaction costs. Subsequent to initial recognition, interest bearing borrowings are stated at amortised cost. Employee Benefits Defined Contribution Plans A defined contribution plan is a post-employment benefit plan under which an entity pays fixed contributions to a separate entity and will have no legal or constructive obligation to pay further amounts. Obligations for contribution to defined contribution plans are recognised as a personnel expense in profit or loss when they are due. Other Long Term Employee Benefits The Group's net obligation in respect of long-term employee benefits, other than defined benefit plans, is the amount of future benefit that employees have earned in return for their service in the current and prior years plus related on-costs. These employee benefits have not been discounted to the present value of the estimated future cash outflows to be made for those benefits. Short Term Benefits Liabilities for employee benefits for wages, salaries, and annual leave represent present obligations resulting from employees’ services provided to the reporting date and are calculated at undiscounted amounts based on remuneration wage and salary rates that the Group expects to pay at reporting date, including related on-costs. Provisions Provisions are recognised when the Group has a legal or constructive obligation, as a result of past events, for which it is probable that an outflow of economic benefits will result, and that outflow can be reliably measured. Where the Group expects some or all of a provision to be reimbursed, for example under an insurance contract, the reimbursement is recognised as a separate asset but only when the reimbursement is virtually certain. The expense relating to any provision is presented in the income statement net of any reimbursement. Revenue Revenue from Contracts with Customers Revenue is recognised over time if: • the customer simultaneously receives and consumes the benefits as the entity performs; • the customer controls the asset as the entity creates or enhances it; or • the seller’s performance does not create an asset for which the seller has an alternative use and there is a right to payment for performance to date. Where the above criteria are not met, revenue is recognised at a point in time. Revenue from WOTSO and HealthSpace members comprises fees charged for the right to occupy flexible workspace and associated services (including access to meeting rooms, virtual office facilities, and amenities). This revenue is recognised over time, as the customer simultaneously receives and consumes the benefits provided by the Group as those benefits are provided, consistent with AASB 15.35(a). Membership fees are typically billed and recognised on a straight-line basis over the membership term, reflecting the pattern in which the Group satisfies its performance obligation. Other income comprises management fee revenue for services provided to related and third parties, recognised over time as those services are rendered. Other Property Income Other property income is generated through leases with customers in the Group’s capacity as a lessor and is accounted for under AASB 16 on a straight-line basis in accordance with lease terms. Business Combination The acquisition method of accounting is used to account for all business combinations, regardless of whether equity instruments or other assets are acquired. The consideration transferred for the acquisition of a subsidiary comprises the: • fair values of the assets transferred; • equity interests issued by the Group; and • fair value of any asset or liability resulting from a contingent consideration arrangement. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are, with limited exceptions, measured initially at their fair values at the acquisition date.
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OSTOW LIMITED – NOTES TO THE FINANCIAL STATEMENTS 30 Income Tax Current Income Tax Expense The charge for current income tax expense is based on the profit year adjusted for any non-assessable or disallowed items. It is calculated using the tax rates that have been enacted or are substantially enacted by the balance sheet date. Accounting for Deferred Tax Deferred tax is accounted for using the balance sheet liability method in respect of temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements. No deferred income tax will be recognised from the initial recognition of an asset or liability, excluding a business combination, where there is no effect on accounting or taxable profit or loss. Deferred Tax Calculation Deferred tax is calculated at the tax rates that are expected to apply to the year when the asset is realised or liability is settled. Deferred tax is credited in the income statement except where it relates to items that may be credited directly to equity, in which case the deferred tax is adjusted directly against equity. Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they relate to income taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but they intend to settle current tax liabilities and assets on a net basis or their tax assets and liabilities will be realised simultaneously. Deferred Income Tax Assets Deferred income tax assets are recognised to the extent that it is probable that future tax profits will be available against which deductible temporary differences can be utilised. The carrying amount of deferred income tax assets is reviewed at each balance sheet 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. Benefit Brought to Account The amount of benefits brought to account, or which may be realised in the future, is based on the assumption that no adverse change will occur in income taxation legislation and the anticipation that the economic entity will derive sufficient future assessable income to enable the benefit to be realised and comply with the conditions of deductibility imposed by the law. Tax Consolidation The Company has elected to form a tax consolidated group with its wholly owned entities for income tax purposes under the tax consolidation regime. As a consequence, all members of the tax consolidated group are taxed as a single entity. The Company is the Parent Entity within the tax consolidated group. In addition to its own current and deferred tax amounts, the Company also recognises the current tax liabilities (or assets) and the deferred tax assets arising from unused tax losses and unused tax credits assumed from controlled entities in the tax consolidated group, in conjunction with any tax funding arrangement amounts. The Group recognises deferred tax assets arising from unused tax losses of the tax consolidated group to the extent that it is probable that future taxable profits of the tax consolidated group will be available against which the asset can be utilised. Any subsequent period adjustments to deferred tax assets arising from unused tax losses as a result of revised assessments of the probability of recoverability is recognised by the Parent Entity only. Assets or liabilities arising under tax funding agreements with the tax consolidated entities are recognised as amounts receivable from or payable to other entities in the Group. GST Revenues, expenses, and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian Taxation Office. In these circumstances the GST is recognised as part of the cost of acquisition of the asset or as part of an item of the expense. Receivables and payables in the balance sheet are shown inclusive of GST. Cash flows are presented in the cash flow statement on a gross basis, except for the GST components of investing and financing activities, which are disclosed as operating cash flows. Equity Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds.
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OSTOW LIMITED – NOTES TO THE FINANCIAL STATEMENTS 31 New Accounting Standards and Interpretations The Group has adopted the new or amended Accounting Standards and Interpretations issued by the AASB that are mandatory for the current reporting period. The accounting policies adopted in the preparation of the consolidated financial statements are consistent with those of the previous year. Several amendments apply for the first time in the current year. However, they do not impact the Group’s consolidated financial statements. Certain new accounting standards, amendments to accounting standards and interpretations, including AASB 18, have been published. These pronouncements are not mandatory for the reporting period and have not been early adopted by the Group. AASB 18 replaces AASB 101 and is effective for annual reporting periods beginning on or after 1 January 2027. The new standard will impact the presentation and disclosure in the financial statements by introducing new categories and specified totals and subtotals in the consolidated statement of profit or loss and other comprehensive income and changes in the grouping of information in the consolidated financial statements. Other than certain presentations and disclosures in the financial statements required by AASB 18, these standards, amendments or interpretations are not expected to have a material impact on the Group in the current or future reporting periods. The Group is monitoring the mandatory climate related financial disclosure requirements introduced into the Corporations Act 2001 (Cth) and the Australian Sustainability Reporting Standards issued by the AASB. Based on the Group’s current revenue, gross assets and employee numbers, the Directors expect the Group will be required to prepare a sustainability report for the financial year ending 30 June 2028. Any new or amended Accounting Standards or Interpretations that are not yet mandatory have not been early adopted. With the exception of the above, based on the Group's preliminary assessment, they are not expected to have a material impact on the Group.
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OSTOW LIMITED – FINANCIAL STATEMENTS 32 Consolidated Entity Disclosure Statement at 30 June 2026 Body Corporates Tax Residency Entity Name Entity Type Place of Incorporation % of Share Capital Held Australian or Foreign Foreign Jurisdiction Ostow Limited 1 Body corporate Australia N/A Australian N/A 76 Brunswick Street Pty Ltd 2 Body corporate Australia 100% Australian N/A Ada Avenue Brookvale Pty Ltd 2 Body corporate Australia 100% Australian N/A Flinders Street Pty Ltd 2 Body corporate Australia 100% Australian N/A Gymea Bay Road Pty Ltd 2 Body corporate Australia 100% Australian N/A Gymea Bay Road Unit Trust Trust Australia 100% Australian N/A Macquarie Hobart Pty Ltd 2 Body corporate Australia 100% Australian N/A Military Road Cremorne Pty Ltd 2 Body corporate Australia 100% Australian N/A Northbourne Dickson Pty Ltd 2 Body corporate Australia 100% Australian N/A Ormsby Terrace Pty Ltd 2 Body corporate Australia 100% Australian N/A Ostow Investments Pty Ltd Body corporate Australia 100% Australian N/A Ostow NZ Investments Limited Body corporate New Zealand 100% Foreign New Zealand Ostow Property Management Pty Ltd Body corporate Australia 100% Australian N/A Pioneer Road Yandina Pty Ltd 2 Body corporate Australia 100% Australian N/A PYT Unit Trust Trust Australia 100% Australian N/A Tudor Street Newcastle Pty Ltd 2 Body corporate Australia 100% Australian N/A Wormald Symonston Pty Ltd 2 Body corporate Australia 100% Australian N/A WOT Custodian Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Adelaide Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Alerik Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Austrump Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Ballarat Body corporate Australia 100% Australian N/A WOTSO Barracks Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Belmont Limited Body corporate New Zealand 100% Foreign New Zealand WOTSO Blacktown Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Bondi Junction Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Botany Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Brookvale Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Bundaberg Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Chermside Pty Ltd Body corporate Australia 100% Australian N/A WOTSO CookSpace Pty Ltd Body corporate Australia 100% Australian N/A
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OSTOW LIMITED – FINANCIAL STATEMENTS 33 WOTSO Coworking Cafe Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Cremorne Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Dandenong Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Dickson Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Employment Services Pty Ltd Body corporate Australia 100% Australian N/A WOTSO External Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Fortitude Valley Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Fund Services Limited 2 Body corporate Australia 100% Australian N/A WOTSO Geelong Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Gold Coast Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Gregory Hills Pty Ltd Body corporate Australia 100% Australian N/A WOTSO HealthSpace Pty Ltd Body corporate Australia 50% Australian N/A WOTSO Hobart Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Holdings Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Internal Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Jamisontown Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Kogarah Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Liverpool Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Macarthur Square Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Macquarie Park Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Macquarie Park Cafe Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Mandurah Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Manly Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Melbourne Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Mulgrave Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Murarrie Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Newcastle Pty Ltd Body corporate Australia 100% Australian N/A WOTSO North Sydney Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Norwest Pty Ltd Body corporate Australia 100% Australian N/A WOTSO NZ Employment Services Limited Body corporate New Zealand 100% Foreign New Zealand WOTSO NZ External Limited Body corporate New Zealand 100% Foreign New Zealand WOTSO NZ Holdings Limited Body corporate New Zealand 100% Foreign New Zealand WOTSO NZ Internal Limited Body corporate New Zealand 100% Foreign New Zealand WOTSO Pyrmont Pty Ltd Body corporate Australia 100% Australian N/A WOTSO RA Services Pty Ltd Body corporate Australia 100% Australian N/A
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OSTOW LIMITED – FINANCIAL STATEMENTS 34 WOTSO Rhodes Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Robina Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Services Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Services 1 Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Services 2 Pty Ltd 3 Body corporate Australia 100% Australian N/A WOTSO Services 2 Unit Trust Trust Australia N/A Australian N/A WOTSO Services 3 Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Spare Pty Ltd 2 Body corporate Australia 100% Australian N/A WOTSO Storage Space Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Sunshine Coast Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Sydney CC Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Symonston Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Takapuna Limited Body corporate New Zealand 100% Foreign New Zealand WOTSO Te Toangaroa Limited Body corporate New Zealand 100% Foreign New Zealand WOTSO Tea Tree Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Toowoomba Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Wellington Limited Body corporate New Zealand 100% Foreign New Zealand WOTSO Whangarei Limited Body corporate New Zealand 100% Foreign New Zealand WOTSO Woden Pty Ltd Body corporate Australia 100% Australian N/A WOTSO Zetland Pty Ltd Body corporate Australia 100% Australian N/A WRV Pty Ltd 2 Body corporate Australia 100% Australian N/A Yandina Industrial Mortgage Fund Trust Australia 100% Australian N/A Yeost Lease Pty Ltd Body corporate Australia 100% Australian N/A 1. Entity is a stapled member of WOTSO. 2. Trustee entity of a trust which is consolidated within the stapled WOTSO group consolidated financial statements. 3. Trustee entity of a trust which is consolidated within these consolidated financial statements.
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OSTOW LIMITED – DIRECTORS’ DECLARATION 35 In the Directors’ opinion: (a) the financial statements and notes are in accordance with the Corporations Act 2001 (Cth), including: (i) complying with Accounting Standards, the Corporations Regulations 2001 and other mandatory professional reporting requirements; and (ii) giving a true and fair view of the Group’s financial position at 30 June 2026 and of its performance for the financial year ended on that date; and (b) there are reasonable grounds to believe that the Group will be able to pay its debts as and when they become due and payable. The Statement of Material Accounting Policies confirms that the financial statements also comply with International Financial Reporting Standards as issued by the International Accounting Standards Board. The Directors have been given the declarations by the persons acting in the capacities of Chief Executive Officer and Chief Financial Officer required by section 295A of the Corporations Act 2001 (Cth). In the Directors’ opinion, the attached consolidated entity disclosure statement is true and correct. This declaration is made pursuant to a resolution of the Directors. Seph Glew Chairman Sydney, 25 August 2026 Jessie Glew Director Sydney, 25 August 2026
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OSTOW LIMITED – AUDITOR’S INDEPENDENCE DECLARATION AND AUDITOR’S REPORT 36
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OSTOW LIMITED – AUDITOR’S INDEPENDENCE DECLARATION AND AUDITOR’S REPORT 37
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OSTOW LIMITED – AUDITOR’S INDEPENDENCE DECLARATION AND AUDITOR’S REPORT 38
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OSTOW LIMITED – AUDITOR’S INDEPENDENCE DECLARATION AND AUDITOR’S REPORT 39
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PLANLOC LIMITED ABN 50 062 367 560 ANNUAL FINANCIAL REPORT 30 JUNE 2026
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TABLE OF CONTENTS 2 3 Directors’ Report 7 Statement of Profit or Loss and Other Comprehensive Income 8 Balance Sheet 9 Statement of Cash Flows 10 Statement of Changes in Equity 11 Notes to the Financial Statements 28 Directors’ Declaration 29 Auditor’s Independence Declaration and Auditor’s Report
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PLANLOC LIMITED – DIRECTORS’ REPORT 3 The Directors of Planloc Limited (Company) present the 2026 annual report, together with the financial statements of the Company for the year ended 30 June 2026. Principal Activities The Company is a listed property investment company and is stapled to two other entities (WOTSO Property Trust and Ostow Limited) forming the listed WOTSO (ASX: WOT). The Company owns a retail mixed use property in Jamisontown, NSW, and holds investments in two property investment structures that ultimately own an entertainment precinct in Villawood, NSW and an office building in Pyrmont, NSW. Jamisontown Investment Property The Jamisontown property is fully leased, with a diverse mix of established tenants including Boating Camping Fishing, Rashay’s Restaurant, Tru Ninja, Only About Children, City Cave, BBQ’s Galore and WOTSO Jamisontown. The property was independently valued at $30M in June 2026. Villawood Investment The Company also owns 49.88% of WRV Unit Trust (WRV), which owns The Woods property, an entertainment precinct in western Sydney, approximately 28km from Sydney CBD. The property has great exposure to Woodville Road, and is home to 8 different tenants comprising Zone Bowling, Chipmunks Playland, Sydney Indoor Climbing Gym, Jump Swim School, Flip Out, the Woods Café, Reverse Vending Machine and Cross Fit Bawn. It was independently valued in December 2024 at $29.5M. Pyrmont Investment Following a restructure of WOTSO in May 2024, the Company acquired a 43% investment in Pyrmont Bridge Property Pty Ltd (PBR) which owns the property at 55 Pyrmont Bridge Road, in Pyrmont, NSW. The property is an office building located on the fringe of Sydney CBD with over 14,000 sqm of net lettable area. The property was last independently valued in June 2023 at $134.3M and was carried at $125M at 30 June 2026 following a directors’ valuation on the property. The lower valuation reflects the directors’ assessment of the property in a challenging Pyrmont market. Risks The Company has identified a number of material business risks including inflation, interest costs, valuations, and unplanned capital expenditure, among others. These risks are subject to continuous assessment and review. The key business risks impacting the Company, and how such risks are managed, are outlined in WOTSO’s 2026 Annual Report, which can be found at https://wotso.com/investors-information/. Dividends During the year, WOTSO paid the FY25 final distribution of 1.25 cps on 3 October 2025 and an interim distribution of 1.35 cps on 10 April 2026. Both distributions were paid entirely from WOTSO Property Trust, with the Company not contributing any dividend to either distribution. The Directors of WOTSO have declared a final distribution of 1.45 cps to be paid on 10 November 2026, being a trust distribution from WOTSO Property Trust with the Company not contributing any dividend to this distribution. Rounding of Amounts The Company is an entity to which section 7 of ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2026/183 applies and in accordance with that section amounts in the directors’ report and financial statements are rounded off to the nearest thousand dollars, unless otherwise required.
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PLANLOC LIMITED – DIRECTORS’ REPORT 4 Company Officeholders The names of the officeholders during the year are set out below. Unless otherwise stated, officeholders have been in office since the beginning of the year. Joseph (Seph) Glew Non-Executive Director and Chairman Seph has worked in the commercial property industry in New Zealand, the USA and Australia. Seph has driven large scale property development and financial structuring for real estate for over 50 years. In addition, since the early 1990s Seph has run many “turn-around” processes in relation to distressed properties and property structures for both private and institutional property owners. While working for the Housing Corporation of New Zealand and then AMP, Seph qualified as a registered valuer and holds a Bachelor of Commerce. In the 1980s he served as an Executive Director with New Zealand based property group Chase Corporation and as a Non-Executive Director with a number of other listed companies in New Zealand and Australia. Jessica (Jessie) Glew CEO and Executive Director Jessie is the CEO and COO of WOTSO. Prior to her appointment as CEO, Jessie was Joint Managing Director of both WOTSO and BlackWall Limited (ASX: BWF), the listed property and fund manager and previous manager of WOTSO. Jessie has been with the BlackWall Group since early 2011 and has over 15 years’ experience in the property industry, specifically in development and operations. Jessie also holds a Bachelor of International Communication from Macquarie University and a class one NSW real estate licence. Jessie joined the Board of The Kids’ Cancer Project in 2022, providing insights and operational knowledge to help support the charity. Since 2024 Jessie has sat on the Board of Flexible Workspace Australia, the peak body for coworking and flexible workspace providers and partners across all cities and regions of Australia. Richard Hill Non-Executive Director Richard Hill has extensive investment banking experience and was the founding partner of the corporate advisory firm Hill Young & Associates. Richard has invested in BlackWall’s projects since the early 1990s. Prior to forming Hill Young, Richard held a number of Senior Executive positions in Hong Kong and New York with HSBC. He was admitted as an attorney in New York State and was registered by the US Securities & Exchange Commission and the Ontario Securities Commission. Richard has served as a Director (Chairman) of the Westmead Institute for Medical Research and Director (Chairman) of Sirtex Medical Limited (Sirtex), formerly listed on ASX. Paul Tresidder Non-Executive Director Paul has considerable experience in retail management, leading, development and strategic planning. He spent eight years with Lendlease where he held a number of roles, including National Leasing Manager, before being appointed to the position of Divisional Manager responsible for half of the General Property Trust retail portfolio. Paul and fellow Lendlease executive Guy Wynn, formed a property management company which was subsequently acquired by Baillieu Knight Frank. In 1993, Paul joined Seph Glew in the development business that would ultimately become ASX listed BlackWall Limited. Agata Ryan Company Secretary Agata joined WOTSO in 2023 as the Head of Legal and Company Secretary. Agata oversees all aspects of WOTSO’s commercial and fund transactions, corporate governance and regulatory functions, and investor relations. Prior to joining WOTSO, Agata was a property lawyer working at law firms, ranging from top tier to boutique, as well as legal counsel in the commercial property legal team at Stockland. Agata is admitted as a solicitor of the Supreme Court of New South Wales and the High Court of Australia and holds a Bachelor of Arts, Master of Commerce and Juris Doctor from UNSW.
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PLANLOC LIMITED – DIRECTORS’ REPORT 5 Meeting Attendances Director No. of Board Meetings Held Board Meeting Attendance Audit Committee Meetings Audit Committee Attendance Seph Glew 6 6 - - Jessica Glew 6 6 - - Richard Hill 6 6 4 4 Paul Tresidder 6 6 4 4 Remuneration of Key Management Personnel (KMP) The KMP of the Company receive remuneration in their capacity as directors of the Company. These amounts are paid directly by Ostow Limited. Management fees payable to Ostow Limited cover all costs in relation to the management of the Company. The Company’s shares are quoted on the ASX as a component of the stapled WOTSO group and cannot be acquired, held or disposed separately from shares in Ostow Limited and units in WOTSO Property Trust. Accordingly, there is no separately traded price for the Company, and the return to shareholders must consider the return of the WOTSO group as whole. For those reasons, the information in the table below sets out summary information about the WOTSO group's earnings and movements in shareholder wealth for the five years to 30 June 2026. 2026 $’000 2025 $’000 2024 $’000 2023 $’000 2022 $’000 WOTSO revenue 48,754 47,045 49,722 48,523 40,185 WOTSO net profit / (loss) after tax (2,128) (4,370) 876 (6,208) 34,076 2026 2025 2024 2023 2022 Basic and diluted earnings per share (EPS) (cps) (1.5) (3.0) 0.0 0.5 18.8 Interim dividend (cps) 1.35 1.00 1.00 3.00 3.00 Final dividend (cps)* 1.45 1.25 1.00 3.00 3.00 Total dividends paid (cps) 2.80 2.25 2.00 6.00 6.00 Share price at start of the year 0.60 0.86 1.14 1.39 1.45 Share price at end of the year 0.52 0.60 0.86 1.14 1.39 *Declared after the end of the reporting period and not reflected in the financial statements. Indemnities of Officers During the year, the Company paid premiums to insure each of the Directors, along with officers of the Company, against all liabilities for costs and expenses incurred by them in defending any legal proceedings arising out of their conduct while acting in the capacity of director or officer of the Company, other than conduct involving a wilful breach of duty. The insurance policy prohibits disclosure of the nature of the liability, the amount of the premium and the limit of liability. No indemnities have been given or insurance premiums paid, during or since the end of the year, for any person who is or has been an auditor to the Company. Auditor and Non-audit Services $24,323 and $2,691 were paid to the auditor for audit and non-audit services respectively during the year (2025 - $23,133 and $2,588 respectively) as detailed in Note 14. The Directors are satisfied that the provision of non-audit services is compatible with the general standard of independence for
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PLANLOC LIMITED – DIRECTORS’ REPORT 6 auditors imposed by the Corporations Act 2001 (Cth). The nature and scope of each type of non-audit service provided means that auditor independence was not compromised. A copy of the auditor’s independence declaration as required under section 307C of the Corporations Act 2001 (Cth) is set out in these financial statements. ESV Business Advice and Accounting continues in office in accordance with section 327 of the Corporations Act 2001 (Cth). Subsequent Events and Significant Changes in Affairs Subsequent to year end, the Company acquired a 50% interest in WOTSO HealthSpace Pty Ltd for nominal consideration of $1. As Ostow Limited, being a member of the stapled WOTSO group, holds the remaining 50% interest, WOTSO group’s ownership of WOTSO HealthSpace Pty Ltd has increased to 100%, with the Company and Ostow Limited sharing joint control. With joint control of WOTSO HealthSpace Pty Ltd, the Company will follow the equity method of accounting for this investment from the date of acquisition. With the exception of the above, to the best of the Directors' knowledge, since the end of the year there have been no matters or circumstances that have materially affected the Company's operations or may materially affect its operations, state of affairs, or the results of operations in future years. Environmental Regulation The Company’s operations are not subject to any significant environmental laws or regulations under Commonwealth or State legislation other than those that pertain to the ownership and development of real estate. Registered Office & Principal Place of Business Level 1, 50 Yeo Street Neutral Bay, NSW 2089 Telephone +61 2 9157 4069 or 1800 203 170 Auditor ESV Business Advice and Accounting Level 13, 68 York Street, Sydney NSW 2000 Signed in accordance with a resolution of the Board of Directors. Seph Glew Chairman Sydney, 25 August 2026 Jessie Glew Director Sydney, 25 August 2026
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PLANLOC LIMITED – FINANCIAL STATEMENTS 7 Statement of Profit or Loss and Other Comprehensive Income for the year ended 30 June 2026 Note 2026 $’000 2025 $’000 Revenue Property rental income 2 2,169 2,235 Finance income 46 53 Total Revenue 2,215 2,288 Expenses Property outgoings (649) (1,341) Business operating expenses 4 (462) (515) Finance costs (770) (841) Total Expenses (1,881) (2,697) Other Income / (Expenses) Equity accounted share of (loss) / profit 3 (3,197) 1,004 Unrealised gain / (loss) on investment property 3 3,279 (1,566) Total Other Income / (Expenses) 82 (562) Profit / (Loss) Before Income Tax 416 (971) Income tax (expense) / benefit 13 (1,263) 36 Loss for the Year (847) (935) Other comprehensive income - - Total Loss and Other Comprehensive Loss for the Year (847) (935) EPS Weighted average number of shares 161,281,868 162,153,948 Basic and diluted EPS 17 (0.5) cents (0.6) cents
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PLANLOC LIMITED – FINANCIAL STATEMENTS 8 Balance Sheet at 30 June 2026 Note 2026 $’000 2025 $’000 Assets Current Assets Cash and cash equivalents 51 24 Loan portfolio 5 197 197 Deferred rent receivable 6 9 21 Trade and other receivables 7 61 159 Total Current Assets 318 401 Non-Current Assets Deferred rent receivable 6 - 9 Loan portfolio 5 835 1,032 Equity accounted investments 8 23,379 26,576 Investment property 9 30,000 26,250 Total Non-Current Assets 54,214 53,867 Total Assets 54,532 54,268 Liabilities Current Liabilities Trade and other payables 10 345 365 Total Current Liabilities 345 365 Non-Current Liabilities Borrowings 11 45,119 45,251 Deferred tax liabilities 13 6,201 4,938 Total Non-Current Liabilities 51,320 50,189 Total Liabilities 51,665 50,554 Net Assets 2,867 3,714 Share capital 12 1 1 Retained earnings 2,866 3,713 Total Equity 2,867 3,714
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PLANLOC LIMITED – FINANCIAL STATEMENTS 9 Statement of Cash Flows for the year ended 30 June 2026 Note 2026 $’000 2025 $’000 Cash Flows from Operating Activities Receipt from property tenants 2,469 1,873 Payments to suppliers (1,398) (1,658) Net Cash Flows from Operating Activities 1,071 215 Cash Flows from Investing Activities Return of equity - 798 Repayment of loan portfolio 197 196 Payments of capital expenditure 9 (446) (1,559) Net Cash Flows used in Investing Activities (249) (565) Cash Flows from Financing Activities (Repayments) / proceeds of borrowings (131) 1,133 Receipts of rental deposits 61 - Interest received 45 53 Interest paid (770) (841) Net Cash Flows (used in) / from Financing Activities (795) 345 Net Increase / (Decrease) in Cash and Cash Equivalents 27 (5) Cash and cash equivalents at the beginning of the year 24 29 Cash and Cash Equivalents at the End of the Year 51 24 Reconciliation of Operating Cash Flows 2026 $’000 2025 $’000 Loss for the Year (847) (935) Non-Cash Flows in Loss: Straight-line rental income (25) (7) Net interest expensed 725 788 PBR equity accounted share of loss 3,778 22 WRV equity accounted share of profit (581) (1,026) Unrealised (gain) / loss on revaluation of Jamisontown property (3,279) 1,566 Movements in tenants cash bond (9) - Changes in Operating Assets and Liabilities: Increase / (decrease) in deferred tax liabilities 1,263 (36) Decrease / (increase) in trade and other receivables 119 (72) (Decrease) in trade and other payables (73) (85) Net Cash Flows from Operating Activities 1,071 215
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PLANLOC LIMITED – FINANCIAL STATEMENTS 10 Statement of Changes in Equity for the year ended 30 June 2026 No. of Shares on Issue Ordinary Shares $’000 Retained Earnings $’000 Total $’000 Balance at 1 July 2025 161,748,524 1 3,713 3,714 Loss for the year - - (847) (847) Other comprehensive income - - - - Total Loss and Other Comprehensive Loss for the Year - - (847) (847) Transactions with Owners in their Capacity as Owners Issue of shares 6,311 - - - Buy-back of shares (2,521,853) - - - Total Transactions with Owners in their Capacity as Owners (2,515,542) - - - Balance at 30 June 2026 159,232,982 1 2,866 2,867 Balance at 1 July 2024 162,176,344 1 4,648 4,649 Loss for the year - - (935) (935) Other comprehensive income - - - - Total Loss and Other Comprehensive Loss for the Year - - (935) (935) Transactions with Owners in their Capacity as Owners Issue of shares 23,508 - - - Buy-back of shares (451,328) - - - Total Transactions with Owners in their Capacity as Owners (427,820) - - - Balance at 30 June 2025 161,748,524 1 3,713 3,714
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PLANLOC LIMITED – NOTES TO THE FINANCIAL STATEMENTS 11 1. Segment Reporting The Company operates in one business segment, being the ownership and leasing of investment properties in Australia. Information about major customers Five of the Company's seven tenants individually contributed more than 10% of the total revenue during the year. Revenue from these tenants is set out below: 2026 $’000 2025 $’000 Boating Camping & Fishing 538 538 Only About Children 489 471 BBQ’s Galore 408 397 Tru Ninja 283 296 Rashay’s Restaurant 280 259 All other tenants 171 274 Total property rental income 2,169 2,235 2. Property Rental Income Revenue is generated from real estate rental under traditional lease arrangements. 2026 $’000 2025 $’000 Related party – WOTSO 52 - Third parties 2,117 2,235 Total property rental income 2,169 2,235 Property rental income is generated through leases with tenants in the Company’s capacity as a lessor and is accounted for under Australian Accounting Standards Board (AASB) 16 on a straight-line basis in accordance with lease terms. 3. Investment Gains / (Loss) 2026 $’000 2025 $’000 Investment property in Jamisontown 3,279 (1,566) Total unrealised gains / (loss) on investment property 3,279 (1,566) 2026 $’000 2025 $’000 Investment in WRV 581 1,026 Investment in PBR (3,778) (22) Total equity accounted share of (loss) / profit (3,197) 1,004
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PLANLOC LIMITED – NOTES TO THE FINANCIAL STATEMENTS 12 4. Business Operating Expenses 2026 $’000 2025 $’000 Fund management fees 438 458 Consultants’ fees (recovery) expense (3) 18 Administration expenses 27 39 Total business operating expenses 462 515 5. Loan Portfolio Name 2026 $’000 2025 $’000 Current Security $’000 Interest Rate Details Current – vendor finance 197 197 3,500* 4.0% See below Non-current – vendor finance 835 1,032 3,500* 4.0% See below Total 1,032 1,229 *The current and non-current vendor loan balances relate to the same loan which is secured by a commercial property in Toowoomba. In 2021, WOTSO Property Trust sold its Toowoomba property. The sale was executed through a vendor finance agreement with the Company over a 10-year period at an interest rate of 4%. The loan is secured against the Toowoomba property by a registered first mortgage. The loan runs until 2031 when it will be fully repaid. The loan is not subject to any financial covenants. The loan is assessed as having low credit risk as the borrower maintains an uninterrupted track record of fully meeting its contractual obligations on time, with no default history or adverse market indicators. Consequently, expected credit losses are assessed as $nil, and no loss allowance has been recognised. 6. Deferred Rent Receivable 2026 $’000 2025 $’000 Current – deferred rent receivable 9 21 Non-current – deferred rent receivable - 9 Total deferred rent receivable 9 30 7. Trade and Other Receivables 2026 $’000 2025 $’000 Accounts receivable 32 127 Other receivables 29 32 Total trade and other receivables 61 159 8. Equity Accounted Investments The Company’s equity accounted investments comprise an investment in WRV and PBR.
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PLANLOC LIMITED – NOTES TO THE FINANCIAL STATEMENTS 13 Name of Associate Proportion of Ownership Interest 2026 Proportion of Ownership Interest 2025 2026 $’000 2025 $’000 WRV 49.88% 49.88% 8,298 7,717 PBR 43.01% 43.01% 15,081 18,859 Total 23,379 26,576 The investment in WRV reflects a 49.88% (Jun 2025: 49.88%) holding in the trust which owns The Woods, Villawood, NSW. The property is an entertainment precinct in Sydney’s west, approximately 28km from Sydney CBD. The property has great exposure to Woodville Road and is home to 8 different tenants. The investment in PBR reflects a 43.01% (Jun 2025: 43.01%) holding in the company which owns the property at 55 Pyrmont Bridge Road, Pyrmont, NSW. The property holds over 14,000sqm of net lettable area and was last independently valued in June 2023 at $134.3M at a cap rate of 6.0%. During the year, the directors of PBR assessed that the valuation of the property was $125M at a cap rate of 7.0% off the back of ongoing challenges in the Pyrmont market leading to less efficient leasing of the property. Following this revaluation, PBR incurred a loss of $8.78M for the year. The Company has equity accounted for its share of the loss, being $3.78M, which includes a share of revaluation losses of $4.39M. The information disclosed below reflects the amounts presented in the financial results of each associate and not the Company’s share of those amounts. They have been amended to reflect adjustments made by the entity when using the equity method, including impairments, fair value adjustments and modifications for differences in accounting policy. WRV PBR Financial Position 2026 $’000 2025 $’000 2026 $’000 2025 $’000 Current assets 103 40 148 78 Non-current assets 29,500 29,500 125,775 134,322 Current liabilities (346) (330) (1,309) (1,464) Non-current liabilities (12,620) (13,739) (67,000) (66,538) Net Assets 16,637 15,471 57,614 66,398 WRV PBR Profit or Loss 2026 $’000 2025 $’000 2026 $’000 2025 $’000 Revenue 2,955 3,035 7,701 7,984 Profit / (loss) for the year 1,166 2,086 (8,784) (51) Other comprehensive income - - - - Total Profit / (Loss) 1,166 2,086 (8,784) (51) Distributions Received - 798 - -
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PLANLOC LIMITED – NOTES TO THE FINANCIAL STATEMENTS 14 WRV PBR Reconciliation of Carrying Amounts 2026 $’000 2025 $’000 2026 $’000 2025 $’000 Opening balance 7,717 7,489 18,859 18,881 Return of capital - (798) - - Share of profit / (loss) 581 1,026 (3,778) (22) Closing Balance 8,298 7,717 15,081 18,859 The Company has assessed that it does not control either WRV or PBR as it does not have voting power to control either investment. 9. Investment Property The Company has an investment in a big box retail complex located at 120 Mulgoa Road, Jamisontown, NSW. The Company assesses the value of its investment property regularly. Where values are considered to have moved materially, either up or down from the amount at which it is held, a new independent valuation is sought. The property was independently valued by a certified practising independent valuer in June 2026 at $30M. The valuer adopted a market cap rate of 6.25%, with net property income of around $1.9M p.a. The Company has assessed the independent valuation and considers that it is appropriate as the fair value is determined having regard to the highest and best use of the property, which is fully occupied, and the net property income before capital adjustments, such as leasing fees, has increased from the time the last independent valuation was completed. This independent valuation was determined with reference to the direct comparison approach, market capitalisation method and the discounted cash flow method. A reconciliation of the property value is as follows: $’000 Balance at 1 July 2025 26,250 Capital improvements 446 Movement in straight-line receivable 25 Revaluations 3,279 Balance at 30 June 2026 30,000 Balance at 1 July 2024 26,250 Capital improvements 1,559 Movement in straight-line receivable 7 Revaluations (1,566) Balance at 30 June 2025 26,250 10. Trade and Other Payables 2026 $’000 2025 $’000 Trade and other payables 241 313 Rental income in advance 21 21 Tenant deposits 83 31 Total Trade and Other Payables 345 365
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PLANLOC LIMITED – NOTES TO THE FINANCIAL STATEMENTS 15 11. Borrowings LVR (Covenant) 2026 $’000 2025 $’000 Security Value ($’000) Ostow Limited - (N/A) 32,119 32,251 - CBA 43% (50%) 13,000 13,000 30,000 Total borrowings 45,119 45,251 The CBA loan, which was renewed in December 2024, is secured against the Company’s Jamisontown property. The current margin is 2.06% over BBSY and the borrowings are unhedged. The facility’s next review date is December 2028. The borrowings from Ostow Limited, which is a member of the WOTSO group and therefore a related party of the Company, are unsecured. The loan is for a five-year term, commencing June 2023, and interest is chargeable at the discretion of the lender. During the year, no interest was paid by the Company (2025 - $nil). As part of the Company’s liquidity risk management framework, the Company monitors all financial covenants on an ongoing basis, is compliant with its financial covenants and, based on forecasts at reporting date, the Company expects to remain compliant with the covenants in the next 12 months. 12. Share Capital 2026 2025 2026 2025 Shares Shares $’000 $’000 At the beginning of the year 161,748,524 162,176,344 1 1 Buy-back of shares (2,521,853) (451,328) - - Issue of new shares 6,311 23,508 - - At the end of the year 159,232,982 161,748,524 1 1 13. Income Tax Expense and Deferred Tax Liabilities (a) Income tax (expense) / benefit 2026 $’000 2025 $’000 Deferred tax (expense) / benefit (1,263) 36 Total income tax (expense) / benefit (1,263) 36 Reconciliation of prima facie tax payable to income tax Profit / (loss) before income tax 416 (971) Expected tax (expense) / benefit at 30% (125) 291 Timing differences not recognised* (1,138) (255) Total income tax (expense) / benefit (1,263) 36 *The timing differences not recognised primarily reflect the tax effect of the decrease in valuation of the Company’s investment in PBR. (b) Deferred tax liabilities Net deferred tax liabilities are recognised on the balance sheet (2026 – $6.2M; 2025 – $4.9M) in relation to unrealised gains on the assets of the Company.
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PLANLOC LIMITED – NOTES TO THE FINANCIAL STATEMENTS 16 2026 $’000 2025 $’000 Financial assets 2,466 2,292 Investment properties 4,203 3,064 Tax losses (468) (418) Total deferred tax liabilities 6,201 4,938 Movements: Balance at the beginning of the year 4,938 4,974 Charged to profit or loss 1,263 (36) Balance at the end of the year 6,201 4,938 14. Auditor’s Remuneration 2026 $ 2025 $ Remuneration of ESV for: Audit and assurance services 24,323 23,133 Taxation and other services 2,691 2,588 Total remuneration 27,014 25,721 15. Commitments, Contingencies and Operating Lease Arrangements (a) Operating lease arrangements The Company leases its investment property under operating leases. The future minimum lease payment receivables are disclosed as follows: 2026 $’000 2025 $’000 Year 1 1,866 1,750 Year 2 1,769 1,354 Year 3 1,276 1,323 Year 4 899 1,116 Year 5 869 1,013 Later than 5 years 2,031 3,290 Total 8,710 9,846 (b) Commitments and contingencies There were no commitments and contingencies at 30 June 2026 (2025 - $nil). 16. Related Party Transactions (a) Related entities In these financial statements, related parties are parties as defined by AASB 124 Related Party Disclosures. (b) Fees and transactions Management fees are charged to entities predominately for property management services, and the fees charged are determined by reference to arm's length commercial rates.
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PLANLOC LIMITED – NOTES TO THE FINANCIAL STATEMENTS 17 These services principally relate to the provision of property management services, property portfolio advisory services, maintenance and insurance, strategic advice and management supervision services, administration, marketing, and risk management services. The Company paid management fees to related parties. All transactions with related parties were made on normal commercial terms and conditions, at market rates, and were approved by the Board where applicable. At 30 June 2026, there were no outstanding receivables with related entities (30 June 2025 - $nil). The following represents the transactions that occurred during the year, and the balances outstanding at year end, between the Company and its related entities: 2026 $ 2025 $ Expenses: Asset management fee paid 436,000 456,100 Repairs and maintenance 14,281 16,503 Consulting and management fees paid 208,063 358,008 Tenancy inducement - 740,250 Outstanding balances: Trade and other payables 1,904 13,838 Borrowings 32,119,772 32,250,602 (c) Interest in related parties At year end, the Company owned 49.88% (2025: 49.88%) of units in WRV and 43.01% (2025: 43.01%) of PBR, detailed in Note 8. (d) KMP Compensation KMP are those persons having authority and responsibility for planning, directing and controlling the activities of the Company, either directly or indirectly, including directors of the Company. The Company does not have any employees. The Company forms part of the WOTSO group, and KMP remuneration is determined and paid by Ostow Limited, another member of WOTSO . Details of KMP remuneration and WOTSO remuneration framework are set out in the Remuneration Report in WOTSO’s 2026 Annual Report. 17. EPS 2026 $’000 2025 $’000 Loss after income tax attributable to shareholders of Planloc Limited (847) (935) Number Number Weighted number of ordinary shares used in calculating basic and diluted EPS 161,281,868 162,153,948 Cents Cents Basic and diluted EPS (0.5) (0.6)
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PLANLOC LIMITED – NOTES TO THE FINANCIAL STATEMENTS 18 18. Financial Risk Management (a) Financial risk management The main risks the Company is exposed to through its financial instruments are market risk (including interest rate risk and price risk), credit risk, and liquidity risk. The Company's principal financial instruments are the loan portfolio and borrowings. Additionally, the Company has various other financial instruments, such as cash and cash equivalents, trade debtors and trade creditors. This note presents information about the Company's exposure to each of the above risks, its objectives, policies, and processes for measuring and managing risk, and the management of capital. The Board has overall responsibility for the establishment and overseeing of the risk management framework. It monitors the Company’s risk exposure by regularly reviewing finance and property markets. The Company holds the following major financial instruments: 2026 $’000 2025 $’000 Financial assets Cash and cash equivalents 51 24 Trade and other receivables 61 159 Deferred rent receivables 9 21 Loan portfolio 1,032 1,229 Financial liabilities Trade and other payables 345 365 Borrowings 45,119 45,251 (b) Material risk (i) Interest rate risk The Company has exposure to market risk relating to changes in interest rates on its loan portfolio and borrowings. The Company’s exposure to interest rate risk, which is the risk that a financial instrument’s value will fluctuate as a result of changes in market interest rates and the interest rates on borrowings, is as follows: June 2026 June 2025 Interest rate % Balance $’000 Interest rate % Balance $’000 Assets Loan portfolio 4.00 1,032 4.00 1,229 Liabilities Borrowings – Ostow Limited 3.00 above cash rate 32,119 3.00 above cash rate 32,251 Borrowings – CBA 2.06 above BBSY 13,000 2.20 above BBSY 13,000
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PLANLOC LIMITED – NOTES TO THE FINANCIAL STATEMENTS 19 Sensitivity Analysis At 30 June 2026, if interest rates on the loan portfolio and borrowings had moved, as illustrated in the table below, with all other variables held constant, profit would be affected as follows: 2026 2025 Movement in interest rates $’000 $’000 + 1.0% (451) (453) - 1.0% 451 453 (ii) Price risk The Company is not subject to any major exposure to price risk. (c) Credit risk The maximum exposure to credit risk, excluding the value of any collateral or other security, at balance date to recognised financial assets, is the carrying amount, net of any provisions for impairment of those assets, as disclosed in the balance sheet and notes to the financial statements. The Company has credit risk exposures to related parties’ investments in related and unrelated property structures under financial instruments and contractual arrangements entered into by the Company. The Company limits its exposure to credit risk by obtaining equitable mortgages over real property for related / unrelated party loan receivables and investments in related and unrelated property structures. (d) Liquidity risk Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Company’s approach to managing liquidity risk is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when they fall due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company’s reputation. At the end of the year, the Company held the following financial arrangements: Maturing within 1 year $’000 Maturing within 2-5 years $’000 Maturing in over 5 years $’000 Total $’000 At 30 June 2026 Trade and other payables 345 - - 345 Borrowings - 45,119 - 45,119 345 45,119 - 45,464 At 30 June 2025 Trade and other payables 365 - - 365 Borrowings - 45,251 - 45,251 365 45,251 - 45,616
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PLANLOC LIMITED – NOTES TO THE FINANCIAL STATEMENTS 20 (e) Fair value measurement (i) Fair value hierarchy AASB 13 requires disclosure of fair value measurements by level in the following fair value measurement hierarchy: • Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities; • Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (as prices) or indirectly (derived from prices); and • Level 3 – Inputs for the asset or liability that are not based on observable market data (unobservable inputs). The fair value of financial assets traded in active markets is subsequently based on their quoted market prices at the end of the reporting period, without any deduction for estimated future selling costs. The quoted market price used for financial assets held by the Company is the current bid price and the quoted market price for financial liabilities is the current asking price. The following table presents the Company’s assets measured at fair value at the reporting date. Refer to Note 20 for further details of assumptions used and how fair values are measured. Level 1 $’000 Level 2 $’000 Level 3 $’000 Total $’000 At 30 June 2026 Loan portfolio - - 1,032 1,032 Investment properties - - 30,000 30,000 At 30 June 2025 Loan portfolio - - 1,229 1,229 Investment properties - - 26,250 26,250 (ii) Valuation techniques used to derive Level 3 fair values The carrying amounts of the loan portfolio approximate the fair values as they are short term receivables. For all other financial assets, carrying value is an approximation of fair value. There were no transfers between Level 1, 2 and 3 financial instruments during the year. Significant unobservable inputs associated with the valuation of investment properties are as follows: (iii) Fair value measurements using significant unobservable inputs (Level 3) The following table is a reconciliation of the movements in financial assets classified as Significant Unobservable Inputs used to Measure Fair Value Change to inputs Impact on Increase in Input on Fair Value $’000 Impact on Decrease in Input on Fair Value $’000 Capitalisation rate 0.25% (1,200) 1,300 Net market rent 5% 1,900 (1,900)
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PLANLOC LIMITED – NOTES TO THE FINANCIAL STATEMENTS 21 Level 3 for the year: At 30 June 2026 $’000 Balance at beginning of the year 27,479 Additions 446 Loan repayment (197) Fair value movement 3,279 Straight-line rental income 25 Balance at end of the year 31,032 At 30 June 2025 $’000 Balance at beginning of the year 27,675 Additions 1,559 Loan repayment (196) Straight-line rental income 7 Fair value movement (1,566) Balance at end of the year 27,479 19. Subsequent Events Subsequent to year end, the Company acquired a 50% interest in WOTSO HealthSpace Pty Ltd for nominal consideration of $1. As Ostow Limited, being a member of the WOTSO group, holds the remaining 50% interest, WOTSO group’s ownership of WOTSO HealthSpace Pty Ltd has increased to 100%, with the Company and Ostow Limited sharing joint control. With joint control of WOTSO HealthSpace Pty Ltd, the Company will follow the equity method of accounting for this investment from the date of acquisition. With the exception of the above, to the best of the Directors' knowledge, since the end of the year there have been no matters or circumstances that have materially affected the Company's operations or may materially affect its operations, state of affairs, or the results of operations in future years. 20. Critical Accounting Estimates and Judgments The Directors evaluate estimates and judgments incorporated into the financial statements based on historical knowledge and best available current information. Estimates assume a reasonable expectation of future events and are based on current trends in economic data obtained both externally and within the Company. Impairment The Company assesses impairment at each reporting date by evaluating conditions specific to the Company that may lead to impairment of assets. Fair Values of Investment Properties The Company carries its investment property at fair value, with changes in the fair values recognised through profit and loss statement. At the end of each reporting period, the Directors review and update their assessment of the fair value of the property, considering the most recent independent valuation. The key assumptions used in this determination are set out in Note 9. The independent valuer's cap rate represents the property's net market income divided by the property value, being the market yield the valuer has applied to arrive at the valuation. If there are any material changes in
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PLANLOC LIMITED – NOTES TO THE FINANCIAL STATEMENTS 22 the key assumptions due to changes in economic conditions, the fair value of the investment property may differ and may need to be re-estimated. For this report, the property is held at the independent valuation carried out in June 2026. Based on the Directors' assessment, the valuation is appropriate and aligned with current occupancy (the property being fully occupied) and the market cap rate of 6.25%. 21. Material Accounting Policies The Company is a public company, forming part of the WOTSO group, which is incorporated and domiciled in Australia. The financial statements for the Company were authorised for issue in accordance with a resolution of the Directors on the date they were issued. Basis of Preparation These general-purpose financial statements have been prepared in accordance with the Australian Accounting Standards and other authoritative pronouncements of the AASB and the Corporations Act 2001 (Cth). The financial statements also comply with International Financial Standards issued by the International Accounting Standards Board. The financial statements have been prepared on an accruals basis and are based on historical costs modified by the revaluation of selected non-current assets, financial assets and financial liabilities for which the fair value basis of accounting has been applied. The following is a summary of the material accounting policies adopted by the Company in the preparation of the financial statements. The accounting policies have been consistently applied, unless otherwise stated. Going Concern These financial statements have been prepared on a going concern basis, which contemplates continuity of normal business activities and the realisation of assets and settlement of liabilities in the ordinary course of business. Despite being in a net current liability position at June 2026, the Company has positive operating cash flows and closely monitors liquidity to manage cash flows. As a member of the WOTSO group, other members of the group will be able to provide financial support to the Company if required. This financial support may be in the form of pausing, adjusting and deferring monthly loan interest payments and management fees, and advancing funds by way of loan. Comparative Figures When required by Accounting Standards, comparative figures have been adjusted to conform to changes in presentation for the current year. Any change of presentation has been made to make the financial statements more relevant and useful to the user. Segment Reporting AASB 8 requires operating segments to be identified on the basis of internal reports about components of the Company that are regularly reviewed by the Chief Operating Decision Makers (CODM) to allocate resources to the segment and to assess its performance. Operating segments are presented using the 'management approach', where the information presented is on the same basis as the internal reports provided to the CODM. The CODM are responsible for the allocation of resources to operating segments and assessing their performance. Presentation Currency Both the functional and presentation currency of the Company is Australian dollars. Investment Properties Investment properties are measured initially at cost, including transaction costs. The carrying
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PLANLOC LIMITED – NOTES TO THE FINANCIAL STATEMENTS 23 amount includes the cost of replacing part of an existing investment property at the time that cost is incurred if the recognition criteria are met and excludes the costs of day-to-day servicing of an investment property. Subsequent to initial recognition, investment properties are stated at fair value, which is based on active market prices, adjusted, if necessary, for any difference in the nature, location or condition of the specific asset at the balance sheet date. Gains or losses arising from changes in the fair values of investment properties are recognised in profit or loss in the year in which they arise. Impairment of Assets At each reporting date, the Company reviews the carrying values of its assets to determine whether there is any indication that those assets have been impaired. If such an indication exists, the recoverable amount of the asset, being the higher of the asset's fair value less costs to sell and value in use, is compared to the asset's carrying value. In assessing value in use, either the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset, or the income of the asset is capitalised at its relevant capitalisation rate. An impairment loss is recognised if the carrying value of an asset exceeds its recoverable amount. Impairment losses are expensed to profit or loss. Impairment losses recognised in prior years are assessed at each reporting date for any indication that the loss has decreased or no longer exists. An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount. An impairment loss is reversed only to the extent that the asset's carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortisation, if no impairment loss has been recognised. Borrowing Costs Borrowing costs directly attributable to the acquisition and construction of a qualifying asset are capitalised as part of the cost of the asset. Non-derivative Financial Instruments Non-derivative financial instruments comprise investments in equity and debt securities, trade and other receivables, cash and cash equivalents, loans and borrowings, and trade and other payables. Non-derivative financial instruments are recognised at fair value plus, for instruments not at fair value through profit or loss, any directly attributable transaction costs. Subsequent to initial recognition non-derivative financial instruments are measured as described below. Recognition A financial instrument is recognised if the Company becomes a party to the contractual provisions of the instrument. Financial assets are derecognised if the Company's contractual rights to the cash flow from the financial assets expire, or if the Company transfers the financial assets to another party without retaining control of substantially all risks and rewards of the asset. Purchases and sales of financial assets are accounted for at the trade date, i.e. the date that the Company commits to purchase or sell the asset. Financial liabilities are derecognised if the Company's obligations specified in the contract expire or are discharged or cancelled. Loans and Receivables Loans and receivables, including loans to related entities, are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market and are stated at amortised cost using the effective interest rate method. Gains and losses are recognised in profit or loss when the loans and receivables are derecognised or impaired, as well as through the amortisation process. Financial Liabilities Non-derivative financial liabilities are recognised at amortised cost, comprising original debt less principal payments and amortisation.
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PLANLOC LIMITED – NOTES TO THE FINANCIAL STATEMENTS 24 Fair Value The fair values of investments that are actively traded in organised financial markets are determined by reference to quoted market bid prices at the close of business on the balance date. For investments in related party unlisted unit trusts, fair values are determined by reference to published unit prices of these investments, which are based on the net tangible assets of each of the investments. Impairment At each reporting date, the Company assesses whether there is objective evidence that a financial instrument has been impaired. A financial instrument is considered to be impaired if objective evidence indicates that one or more events have had a negative effect on the estimated future cash flows of that asset. Individually significant financial instruments are tested for impairment on an individual basis. The remaining financial assets are assessed collectively in groups that share similar credit risk characteristics. Impairment losses are recognised in the profit or loss. An impairment loss is reversed if the reversal can be related objectively to an event occurring after the impairment loss was recognised. For financial instruments measured at amortised cost, the reversal is recognised in profit or loss. Cash and Cash Equivalents Cash and cash equivalents include cash on hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts. Trade and Other Receivables Trade receivables are recognised and carried at the original invoice amount less an allowance for any expected credit losses. An estimate for expected credit losses is made when there is objective evidence that the Company will not be able to collect the receivable. Financial difficulties of the debtor and default payments are considered objective evidence of impairment. Bad debts are written off when identified as uncollectible. Trade and Other Payables Trade and other payables are carried at cost, which is the fair value of the consideration to be paid in the future for goods or services received, whether or not billed to the Company at balance date. The amounts are unsecured and are usually paid within 30 days of recognition. Interest Bearing Borrowings Interest bearing borrowings are initially recognised at fair value less any related transaction costs. Subsequent to initial recognition, interest bearing borrowings are stated at amortised cost. Revenue Revenue comprises rent and recovery of outgoings from tenants in the Company’s capacity as lessor. Rental income is accounted for under AASB 16 on a straight-line basis in accordance with lease terms. Rent is recognised monthly in advance. Investment Income Interest income is recognised as interest accrues using the effective interest method. This is a method of calculating the amortised cost of a financial asset and allocating the interest income over the relevant year using the effective interest rate. Dividend revenue is recognised when the right to receive a dividend has been established, which in the case of quoted securities is the ex-dividend date. In-specie distributions and returns of capital are brought onto the balance sheet by an adjustment in the carrying value of the relevant investment and then reflected in the comprehensive income as an unrealised gain.
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PLANLOC LIMITED – NOTES TO THE FINANCIAL STATEMENTS 25 Income Tax Current Income Tax Expense The charge for current income tax expense is based on the profit for the year, adjusted for any non-assessable or disallowed items. It is calculated using the tax rates that have been enacted or are substantially enacted by the balance sheet date. Accounting for Deferred Tax Deferred tax is accounted for using the balance sheet liability method in respect of temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements. No deferred income tax will be recognised from the initial recognition of an asset or liability, excluding a business combination, where there is no effect on accounting or taxable profit or loss. Deferred Tax Calculation Deferred tax is calculated at the tax rates that are expected to apply to the year when the asset is realised, or liability is settled. Deferred tax is credited in the income statement, except where it relates to items that may be credited directly to equity, in which case the deferred tax is adjusted directly against equity. Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they relate to income taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but they intend to settle current tax liabilities and assets on a net basis or their tax assets and liabilities will be realised simultaneously. Deferred Income Tax Assets Deferred income tax assets are recognised to the extent that it is probable that future tax profits will be available against which deductible temporary differences can be utilised. The carrying amount of deferred income tax assets is reviewed at each balance sheet 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. Benefit Brought to Account The amounts of benefits brought to account, or which may be realised in the future, is based on the assumption that no adverse change will occur in income taxation legislation, and the anticipation that the economic entity will derive sufficient future assessable income to enable the benefit to be realised and comply with the conditions of deductibility imposed by the law. GST Revenues, expenses, and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian Taxation Office. In these circumstances the GST is recognised as part of the cost of acquisition of the asset or as part of an item of the expense. Receivables and payables in the balance sheet are shown inclusive of GST. Cash flows are presented in the cash flow statement on a gross basis, except for the GST component of investing and financing activities, which are disclosed as operating cash flows. Equity Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds. New Accounting Standards and Interpretations The Company has adopted the new or amended Accounting Standards and Interpretations issued by the AASB that are mandatory for the current reporting period. The accounting policies adopted in the preparation of the financial statements are consistent with those of the previous year. Several amendments apply for the first time in the current year. However, they do not impact the Company’s financial statements.
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PLANLOC LIMITED – NOTES TO THE FINANCIAL STATEMENTS 26 Certain new accounting standards, amendments to accounting standards and interpretations, including AASB 18, have been published. These pronouncements are not mandatory for the reporting period and have not been early adopted by the Group. AASB 18 replaces AASB 101 and is effective for annual reporting periods beginning on or after 1 January 2027. The new standard will impact the presentation and disclosure in the financial statements by introducing new categories and specified totals and subtotals in the consolidated statement of profit or loss and other comprehensive income and changes in the grouping of information in the consolidated financial statements. Other than certain presentations and disclosures in the financial statements required by AASB 18, these standards, amendments or interpretations are not expected to have a material impact on the Group in the current or future reporting periods. Any new or amended Accounting Standards or Interpretations that are not yet mandatory have not been early adopted. With the exception of the above, based on the Company’s preliminary assessment, they are not expected to have a material impact on the Company.
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PLANLOC LIMITED – FINANCIAL STATEMENTS 27 Consolidated Entity Disclosure Statement at 30 June 2026 At 30 June 2026, the Company did not control any entities as defined in AASB 10 Consolidated Financial Statements. The Company is therefore not required by Australian Accounting Standards to prepare financial statements in relation to a consolidated entity, and this statement is provided in accordance with paragraph 295(3A)(b) of the Corporations Act 2001 (Cth). The information specified in paragraph 295(3A)(a) is not applicable.
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PLANLOC LIMITED – DIRECTORS’ DECLARATION 28 In the Directors’ opinion: (a) the financial statements and notes are in accordance with the Corporations Act 2001 (Cth), including: (i) complying with Accounting Standards, the Corporations Regulations 2001 and other mandatory professional reporting requirements; and (ii) giving a true and fair view of the Company’s financial position at 30 June 2026 and of its performance for the financial year ended on that date; 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. The Statement of Material Accounting Policies confirms that the financial statements also comply with International Financial Reporting Standards as issued by the International Accounting Standards Board. The Directors have been given the declarations by the persons acting in the capacities of Chief Executive Officer and Chief Financial Officer required by section 295A of the Corporations Act 2001 (Cth). In the Directors’ opinion, the attached consolidated entity disclosure statement is true and correct. This declaration is made pursuant to a resolution of the Directors. Seph Glew Chairman Sydney, 25 August 2026 Jessie Glew Director Sydney, 25 August 2026
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