Announcement PDF ASX Announcement Enlitic, Inc. ARBN 672 254 027 1 Wednesday 19 August 2026 Enlitic, Inc– Appendix 4D – Half Year Report Enlitic, Inc. (ASX: ENL) (“the Company”) is pleased to provide the Appendix 4D – Half- year report. Please view the announcement here on our website: https://enlitic.com/link/rAoKwy – ENDS – This announcement was authorised for release by the Board of Enlitic, Inc. Enquiries Enlitic Investor Relations Australia: invest_au@enlitic.com About Enlitic Enlitic is a software company that uses artificial intelligence to develop software products that manage medical imaging data in radiology (such as MRI, CT scans, X-ray and ultrasound images) and licences such products to healthcare providers. Enlitic’s products (including its current product offering and product suite under development) seek to standardise, protect, integrate, and analyse data to create the foundation of a real-world evidence platform that can improve clinical workflows, increase efficiencies, and expand capacity. Read more at enlitic.com. Enlitic’s CDIs are traded on ASX in reliance on the safe harbour provisions of Regulation S under the US Securities Act of 1933 as amended, and in accordance with the procedures established pursuant to the provisions of a no action letter dated 7 January 2000 given to ASX by the staff at the US Securities and Exchange Commission. The relief was given subject to certain procedures and conditions described in the no action letter. One of the conditions is that the issuer provides notification of the Regulation S status of its securities in communications such as this announcement. Enlitic, Inc. Appendix 4D Half-year report 1. Company details Name of entity: Enlitic, Inc. ARBN: 672 254 027 Reporting period: For the half-year ended 30 June 2026 Previous period: For the half-year ended 30 June 2025 2. Results for announcement to the market US$ Revenues from ordinary activities down 10.5% to 1,690,629 Loss from ordinary activities after tax up 1.0% to (6,933,231) Loss for the half-year up 1.0% to (6,933,231) Dividends There were no dividends paid, recommended or declared during the current financial period. Comments The loss for the Group after providing for income tax amounted to US$6,933,231 (30 June 2025: US$6,862,114). Refer to the Directors' report in the attached Interim Report for discussion of the review of operations for the half-year. 3. Net tangible assets Reporting period Previous period Cents Cents Net tangible assets per ordinary security (0.84) 0.73 Calculated as follows: Group 30 Jun 2026 30 Jun 2025 US$ US$ Net (liabilities)/assets (2,659,009) 10,362,262 Less: Right-of-use assets - (86,581) Less: Intangibles (4,373,350) (4,337,282) Add: Lease liabilities - 112,378 Net tangible assets (7,032,359) 6,050,777 Total ordinary shares ('common stock') issued (number) 833,178,628 833,174,615 4. Control gained over entities Not applicable. 5. Loss of control over entities Not applicable. Enlitic, Inc. Appendix 4D Half-year report 6. Dividends Current period There were no dividends paid, recommended or declared during the current financial period. Previous period There were no dividends paid, recommended or declared during the previous financial period. 7. Dividend reinvestment plans Not applicable. 8. Details of associates and joint venture entities Not applicable. 9. Foreign entities Details of origin of accounting standards used in compiling the report: The attached financial statements for the interim half-year reporting period ended 30 June 2026 have been prepared in accordance with Australian Accounting Standard AASB 134 'Interim Financial Reporting' and the Corporations Act 2001, as appropriate for for-profit oriented entities. Compliance with AASB 134 ensures compliance with International Financial Reporting Standard IAS 34 'Interim Financial Reporting'. The financial statements do not include all the notes of the type normally included in annual financial statements. Accordingly, the attached financial statements are to be read in conjunction with the annual report for the year ended 31 December 2025 and any public announcements made by the Company during the interim reporting period in accordance with the continuous disclosure requirements of the Corporations Act 2001. 10. Audit qualification or review Details of audit/review dispute or qualification (if any): The financial statements were subject to a review by the auditors and the review report is attached as part of the Interim Report. 11. Attachments Details of attachments (if any): The Interim Report of Enlitic, Inc. for the half-year ended 30 June 2026 is attached. 12. Signed Signed ___________________________ Date: 19 August 2026 Darren Scotti Chief Financial Officer and Company Secretary Enlitic, Inc. ARBN 672 254 027 Interim Report - 30 June 2026 Enlitic, Inc. Contents 30 June 2026 1 Directors' report 2 Auditor's independence declaration 4 Consolidated statement of profit or loss and other comprehensive income 5 Consolidated statement of financial position 6 Consolidated statement of changes in equity 7 Consolidated statement of cash flows 8 Notes to the consolidated financial statements 9 Directors' declaration 19 Independent auditor's review report to the members of Enlitic, Inc. 20 Enlitic, Inc. Directors' report 30 June 2026 2 The Directors present their report, together with the financial statements, on the consolidated entity (referred to hereafter as the 'Group') consisting of Enlitic, Inc. (referred to hereafter as the 'Company' or 'parent entity') and the entities it controlled at the end of, or during, the half-year ended 30 June 2026. Directors The following persons were Directors of Enlitic, Inc. during the whole of the financial half-year and up to the date of this report, unless otherwise stated: Lawrence Gozlan - Chair Michael Sistenich Sergio Duchini Lisa Pettigrew Principal activities The Group's principal activity is to intelligently manage healthcare data using the power of artificial intelligence to expand capacity and improve clinical workflows and create a foundation for a real-world evidence medical image database for healthcare providers. Dividends There were no dividends paid, recommended or declared during the current or previous financial half-year. Review of operations The loss for the Group after providing for income tax amounted to US$6,933,231 (30 June 2025: US$6,862,114). Enlitic is developing and commercialising AI software products that manage medical imaging data in radiology, including MRI, CT scans, X- ray and ultrasound images, and licenses these products to healthcare providers. Enlitic operates in the global healthcare IT market, specifically within the radiology subsector. The Group primarily generates revenue from subscription-based software licences and project-based migration services. For the six months ended 30 June 2026, the Group generated revenue of US$1.69 million, a decrease of 10.5% from US$1.89 million for the corresponding period in 2025. Subscription revenue increased by 11.8% to US$398k from US$356k, while consultancy fees decreased to US$1.29 million from US$1.53 million. Operating expenses, comprising employee benefits, marketing, depreciation and amortisation, professional fees, administration, subscriptions, exchange losses, travel and other expenses, decreased by 15.6% to US$7.35 million from US$8.71 million for the corresponding period in 2025. The decrease was primarily attributable to lower employee benefits expense, which decreased to US$4.93 million from US$6.42 million. The Group also recognised other income of US$300k during the period, primarily relating to a net fair value gain on derivative financial instruments of US$275k. As a result, the loss before income tax increased to US$7.00 million from US$6.83 million. Net cash used in operating activities decreased to US$3.6 million from US$7.24 million for the corresponding period in 2025. The Group had cash and cash equivalents of US$2.05 million at 30 June 2026. As a result of the loss incurred for the half-year ended 30 June 2026 and the net cash outflows from operating activities during the period, a material uncertainty exists that may cast doubt over the Group's ability to continue as a going concern. The Directors consider that the Group will continue as a going concern, as explained in note 2 to the financial statements. Significant changes in the state of affairs On 4 February 2026, shareholders approved the issue of the second tranche of the secured convertible notes announced by the Company on 24 December 2025. Following receipt of shareholder approval, Tranche 2, with a face value of approximately A$5.4 million, were issued on 9 February 2026. As part of Tranche 2, the following Directors participated in the convertible note financing: ● Mr Sergio Duchini subscribed for Convertible Notes with a face value of A$25,000; and ● Mr Michael Sistenich subscribed for Convertible Notes with a face value of A$100,000. There were no other significant changes in the state of affairs of the Group during the financial half-year. Enlitic, Inc. Directors' report 30 June 2026 3 Matters subsequent to the end of the financial half-year Ensight subscription On 1 July 2026, the Company announced that it has signed a three-year Ensight subscription agreement with Lumus Imaging ('Lumus'), a leading Australian diagnostic imaging provider. The agreement is the Company's first Ensight subscription in the Australian market and established a deployment within a major national imaging network. The agreement carries a contract value of US$248,000 over its three-year term. Go-live is expected to occur during H2 2026 and the enterprise pricing reflects the workflow, functionality and study-volume scope of each deployment, rather than site count alone. $A15 million placement and convertible note conversion On 3 July 2026, the Company announced it had received binding commitments to raise approximately A$15 million (before costs) in a placement of new fully paid CHESS Depositary Interests ('CDIs') ('New CDIs') in the Company, subject to shareholder approval at an Extraordinary General Meeting, held on 29 July 2026. At the meeting shareholders approved the issue of the New CDIs and the New CDIs were issued on 5 August 2026. Following issue of the New CDIs, a share consolidation of 10:1 is expected to occur in September 2026. The Company entered into an agreement with holders of its A$8.0 million secured convertible notes whereby the notes will convert into CDIs. Shareholder approval was obtained at the Extraordinary General Meeting on 29 July 2026. Under the agreed terms, all outstanding convertible notes will be settled through the issue of CDIs for a total conversion amount of A$10.0 million, with the conversion price to be equal to the offer price under the associated capital raising. The A$10.0 million conversion amount represents full and final satisfaction of all obligations under the convertible notes, including principal, accrued interest and any other amounts owing. Upon conversion, noteholders will have no further entitlement to interest or other payments under the notes. The conversion is expected to occur concurrently with completion of the proposed equity raising and, if completed, will result in the extinguishment of the Company's convertible note obligations and a corresponding increase in equity. The Company announced its intention to undertake a Security Purchase Plan ('SPP'), subject to obtaining any required approvals. Under the SPP, eligible CDI holders in Australia and New Zealand will be invited to subscribe for up to A$30,000 of additional CDIs at an issue price no higher than A$0.004 per CDI and potentially at a discount to the prevailing market price. The Company reserves the right to scale back applications or not proceed with the SPP. On 29 July 2026, following shareholder approval at an Extraordinary General Meeting the following options were issued to Directors: Number of Director options issued Michael Sistenich 470,000,000 Lawrence Gozlan 128,000,000 Sergio Duchini 42,750,000 Lisa Pettigrew 42,750,000 Total options issued to Directors 683,500,000 No other matter or circumstance has arisen since 30 June 2026 that has significantly affected, or may significantly affect the Group's operations, the results of those operations, or the Group's state of affairs in future financial years. Auditor's independence declaration A copy of the auditor's independence declaration as required under section 307C of the Corporations Act 2001 is set out immediately after this Directors' report. This report is made in accordance with a resolution of Directors, pursuant to section 306(3)(a) of the Corporations Act 2001. On behalf of the Directors ___________________________ Michael Sistenich Director ___________________________ Lawrence Gozlan Director 19 August 2026 4 THE POWER OF BEING UNDERSTOOD AUDIT | TAX | CONSULTING RSM Australia Partners is a member of the RSM network and trades as RSM. RSM is the trading name used by the members of the RSM network. Each member of the RSM network is an independent accounting and consulting firm which practices in its own right. The RSM network is not itself a separate legal entity in any jurisdiction. RSM Australia Partners ABN 36 965 185 036 Liability limited by a scheme approved under Professional Standards Legislation RSM Australia Partners Level 27, 120 Collins Street Melbourne VIC 3000 PO Box 248 Collins Street West VIC 8007 T +61 (0) 3 9286 8000 F +61 (0) 3 9286 8199 www.rsm.com.au AUDITOR’S INDEPENDENCE DECLARATION As lead auditor for the review of the financial report of Enlitic, Inc. and its controlled entities for the half-year ended 30 June 2026, I declare that, to the best of my knowledge and belief, there have been no contraventions of: (i) the auditor independence requirements of the Corporations Act 2001 in relation to the review; and (ii) any applicable code of professional conduct in relation to the review. RSM AUSTRALIA PARTNERS DEEPAK KESHAVAMURTHY Partner Dated: 19 August 2026 Melbourne, Victoria Enlitic, Inc. Consolidated statement of profit or loss and other comprehensive income For the half-year ended 30 June 2026 Group Note 30 Jun 2026 30 Jun 2025 US$ US$ The above consolidated statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes 5 Revenue 4 1,690,629 1,889,254 Other income 5 299,951 7,939 Interest revenue calculated using the effective interest method 12,887 21,114 Exchange gain 73,691 - Expenses Employee benefits expense 6 (4,928,189) (6,418,180) Marketing (136,144) (143,052) Depreciation and amortisation expense (383,569) (105,148) Professional fees (838,976) (743,809) Administration expenses (13,038) (37,434) Subscriptions (475,959) (443,110) Exchange loss - (1,102) Travel (172,063) (216,286) Other expenses (403,829) (641,910) Finance costs 6 (1,649,181) (2,656) Loss before income tax expense (6,923,790) (6,834,380) Income tax expense (9,441) (27,734) Loss after income tax expense for the half-year (6,933,231) (6,862,114) Other comprehensive loss Items that may be reclassified subsequently to profit or loss Foreign currency translation (89,289) (438,887) Other comprehensive loss for the half-year, net of tax (89,289) (438,887) Total comprehensive loss for the half-year (7,022,520) (7,301,001) Cents Cents Basic earnings per share 15 (0.83) (1.08) Diluted earnings per share 15 (0.83) (1.08) Enlitic, Inc. Consolidated statement of financial position As at 30 June 2026 Group Note 30 Jun 2026 31 Dec 2025 US$ US$ The above consolidated statement of financial position should be read in conjunction with the accompanying notes 6 Assets Current assets Cash and cash equivalents 2,052,046 2,569,002 Trade and other receivables 992,190 853,732 Contract assets - 75,000 Income tax refund due 4,270 6,887 Other assets 484,405 579,810 Total current assets 3,532,911 4,084,431 Non-current assets Property, plant and equipment 30,607 42,528 Right-of-use assets - 86,581 Intangibles 7 4,373,350 4,742,620 Total non-current assets 4,403,957 4,871,729 Total assets 7,936,868 8,956,160 Liabilities Current liabilities Trade and other payables 951,927 1,163,649 Contract liabilities 8 2,985,944 2,019,096 Borrowings 9 4,687,084 888,247 Lease liabilities - 5,134 Derivative financial instruments 13 1,970,922 803,225 Total current liabilities 10,595,877 4,879,351 Total liabilities 10,595,877 4,879,351 Net (liabilities)/assets (2,659,009) 4,076,809 Equity Issued capital 10 134,499,773 134,499,520 Reserves 11 3,516,758 3,319,598 Accumulated losses (140,675,540) (133,742,309) Total (deficiency)/equity (2,659,009) 4,076,809 Enlitic, Inc. Consolidated statement of changes in equity For the half-year ended 30 June 2026 The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes 7 Issued capital Reserves Accumulated losses Total equity Group US$ US$ US$ US$ Balance at 1 January 2025 128,170,457 3,226,228 (120,368,485) 11,028,200 Loss after income tax expense for the half-year - - (6,862,114) (6,862,114) Other comprehensive loss for the half-year, net of tax - (438,887) - (438,887) Total comprehensive loss for the half-year - (438,887) (6,862,114) (7,301,001) Transactions with owners in their capacity as owners: Issue of shares 6,329,063 - - 6,329,063 Share-based payments - 306,000 - 306,000 Balance at 30 June 2025 134,499,520 3,093,341 (127,230,599) 10,362,262 Issued capital Reserves Accumulated losses Total deficiency in equity Group US$ US$ US$ US$ Balance at 1 January 2026 134,499,520 3,319,598 (133,742,309) 4,076,809 Loss after income tax expense for the half-year - - (6,933,231) (6,933,231) Other comprehensive loss for the half-year, net of tax - (89,289) - (89,289) Total comprehensive loss for the half-year - (89,289) (6,933,231) (7,022,520) Transactions with owners in their capacity as owners: Issue of shares (note 10) 253 - - 253 Share-based payments - 286,449 - 286,449 Balance at 30 June 2026 134,499,773 3,516,758 (140,675,540) (2,659,009) Enlitic, Inc. Consolidated statement of cash flows For the half-year ended 30 June 2026 Group 30 Jun 2026 30 Jun 2025 US$ US$ The above consolidated statement of cash flows should be read in conjunction with the accompanying notes 8 Cash flows from operating activities Receipts from customers (inclusive of GST) 2,594,019 1,450,856 Payments to suppliers and employees (inclusive of GST) (6,711,485) (8,704,337) (4,117,466) (7,253,481) Interest received 37,973 21,114 Interest and other finance costs paid - (2,656) Income taxes paid (6,824) - Net cash used in operating activities (4,086,317) (7,235,023) Cash flows from investing activities Payments for property, plant and equipment (4,043) (7,480) Proceeds from disposal of property, plant and equipment - 4,492 Net cash used in investing activities (4,043) (2,988) Cash flows from financing activities Proceeds from issue of shares 253 6,402,706 Proceeds from exercise of options - 1,047 Share issue transaction costs - (788,342) Proceeds from borrowings 3,592,218 - Repayment of lease liabilities (5,134) - Net cash from financing activities 3,587,337 5,615,411 Net decrease in cash and cash equivalents (503,023) (1,622,600) Cash and cash equivalents at the beginning of the financial half-year 2,569,002 7,156,705 Effects of exchange rate changes on cash and cash equivalents (13,933) 22,017 Cash and cash equivalents at the end of the financial half-year 2,052,046 5,556,122 Enlitic, Inc. Notes to the consolidated financial statements 30 June 2026 9 Note 1. General information The financial statements cover Enlitic, Inc. as a Group consisting of Enlitic, Inc. ('Company' or 'parent entity') and the entities it controlled at the end of, or during, the half-year (together referred to in these financial statements as the 'Group'). The financial statements are presented in US Dollars, which is Enlitic, Inc.'s functional and presentation currency. Enlitic, Inc. is a listed public company limited by shares, incorporated and domiciled in United States of America. Its registered office and principal place of business are: Registered office Principal place of business 1209 Orange Street 1635 Foxtail Drive City of Wilmington Suite 111A County of New Castle Loveland Delaware, USA 19801 Colorado, USA 80538 A description of the nature of the Group's operations and its principal activities are included in the Directors' report, which is not part of the financial statements. The financial statements were authorised for issue, in accordance with a resolution of Directors, on 19 August 2026. The Directors have the power to amend and reissue the financial statements. Note 2. Material accounting policy information These general purpose financial statements for the interim half-year reporting period ended 30 June 2026 have been prepared in accordance with Australian Accounting Standard AASB 134 'Interim Financial Reporting' and the Corporations Act 2001, as appropriate for for-profit oriented entities. Compliance with AASB 134 ensures compliance with International Financial Reporting Standard IAS 34 'Interim Financial Reporting'. These general purpose financial statements do not include all the notes of the type normally included in annual financial statements. Accordingly, these financial statements are to be read in conjunction with the annual report for the year ended 31 December 2025 and any public announcements made by the Company during the interim reporting period in accordance with the continuous disclosure requirements of the Corporations Act 2001. The accounting policies adopted are consistent with those of the previous financial year and corresponding interim reporting period, unless otherwise stated. New or amended Accounting Standards and Interpretations adopted The Group has adopted all of the new or amended Accounting Standards and Interpretations issued by the Australian Accounting Standards Board ('AASB') that are mandatory for the current reporting period. The adoption of these Accounting Standards and Interpretations did not have any significant impact on the financial performance or position of the Group during the financial half-year ended 30 June 2026 and are not expected to have a significant impact for the full financial year ending 31 December 2026. Any new or amended Accounting Standards or Interpretations that are not yet mandatory have not been early adopted. Going concern These consolidated financial statements have been prepared on the going concern basis, which contemplates continuity of normal business activities and the realisation of assets and discharge of liabilities in the normal course of business. As disclosed in the financial statements, the consolidated entity incurred a net loss after tax of $6,933,231 and had net cash outflows from operating activities of $4,086,317 for the period ended 30 June 2026. As at that date the consolidated entity had net current liabilities of $7,062,966 and net liabilities of $2,659,009. Enlitic, Inc. Notes to the consolidated financial statements 30 June 2026 Note 2. Material accounting policy information (continued) 10 The Directors believe that it is reasonably foreseeable that the Group will continue as a going concern and that it is appropriate to adopt the going concern basis in the preparation of the financial report after consideration of the following factors: Note 3. Operating segments Identification of reportable operating segments The Group is organised into two operating segments: Software and Migration services. These operating segments are based on the internal reports that are reviewed and used by the Board of Directors (who are identified as the Chief Operating Decision Makers ('CODM')) in assessing performance and in determining the allocation of resources. There is no aggregation of operating segments. The CODM reviews EBITDA (earnings before interest, tax, depreciation and amortisation). The accounting policies adopted for internal reporting to the CODM are consistent with those adopted in the financial statements. The information reported to the CODM is on a monthly basis. Types of products and services The principal products and services of each of these operating segments are as follows: Software Being to intelligently manage healthcare data using the power of artificial intelligence to expand capacity and improve clinical workflows and create a foundation for a real-world evidence medical image database for healthcare providers. Migration services Transfer of large volumes of imaging data to allow for the smooth transition of software solutions for healthcare vendors and providers Operating segment information Migration Software services Total Group - 30 Jun 2026 US$ US$ US$ Revenue Sales to external customers 489,225 1,201,404 1,690,629 Other revenue 25,056 - 25,056 Interest revenue 12,887 - 12,887 Total revenue 527,168 1,201,404 1,728,572 EBITDA (4,140,197) (763,530) (4,903,727) Depreciation and amortisation (9,990) (373,579) (383,569) Interest revenue 4,938 7,749 12,687 Finance costs (502,956) (1,146,225) (1,649,181) Loss before income tax expense (4,648,205) (2,275,585) (6,923,790) Income tax expense (9,441) Loss after income tax expense (6,933,231) ● As disclosed in note 16 to the financial statements, subsequent to end of the half-year, the Group raised AUD$15 million through issue of fully paid CHESS Depository Interests ('CDIs') to support its working capital and liquidity requirements; ● As disclosed in note 16 to the financial statements, subsequent to the end of the half-year, the Group entered into an agreement with holders of its A$8.0 million secured convertible notes whereby the notes will convert into CDIs. Upon conversion, noteholders will have no further entitlement to interest or other payments under the notes; ● The budget and cash flow forecast for the twelve-month period from the date of signing the financial statements, which has been prepared based on assumptions about certain economic conditions, operating and trading performance, shows that the Group will continue to hold a cash surplus and therefore supports the Directors’ assertion; and ● The Directors believe the Group will have the ability to access additional funds from existing shareholders and new investors to support working capital and execute its strategic growth initiatives. Enlitic, Inc. Notes to the consolidated financial statements 30 June 2026 Note 3. Operating segments (continued) 11 Migration Software services Total Group - 30 Jun 2025 US$ US$ US$ Revenue Sales to external customers 437,409 1,451,845 1,889,254 Other revenue 7,939 - 7,939 Interest revenue 21,114 - 21,114 Total revenue 466,462 1,451,845 1,918,307 EBITDA (6,022,147) (725,543) (6,747,690) Depreciation and amortisation (44,612) (60,536) (105,148) Interest revenue 21,114 - 21,114 Finance costs - (2,656) (2,656) Loss before income tax expense (6,045,645) (788,735) (6,834,380) Income tax expense (27,734) Loss after income tax expense (6,862,114) Note 4. Revenue Group 30 Jun 2026 30 Jun 2025 US$ US$ Subscription 397,558 355,507 Consultancy fees 1,293,071 1,533,747 Revenue 1,690,629 1,889,254 Disaggregation of revenue The disaggregation of revenue from contracts with customers is as follows: Group 30 Jun 2026 30 Jun 2025 US$ US$ Geographical regions United States of America 1,553,295 1,703,252 Europe 45,667 104,100 Japan 91,667 81,902 1,690,629 1,889,254 Timing of revenue recognition Services transferred over time 1,690,629 1,889,254 Enlitic, Inc. Notes to the consolidated financial statements 30 June 2026 12 Note 5. Other income Group 30 Jun 2026 30 Jun 2025 US$ US$ Net fair value gain on derivatives not qualifying as hedges 274,895 - Net gain on disposal of assets - 7,939 Other income 25,056 - Other income 299,951 7,939 Note 6. Expenses Group 30 Jun 2026 30 Jun 2025 US$ US$ Loss before income tax includes the following specific expenses: Employee benefits Wages and salaries 3,933,276 5,222,856 Employee benefits 467,979 541,372 Share-based payment expense 286,449 306,000 Payroll taxes 240,485 347,952 Employee benefits expensed 4,928,189 6,418,180 Finance costs Interest and finance charges paid/payable on borrowings 1,649,181 2,656 Net loss on disposal Net loss on disposal of assets 272 - Enlitic, Inc. Notes to the consolidated financial statements 30 June 2026 13 Note 7. Intangibles Group 30 Jun 2026 31 Dec 2025 US$ US$ Non-current assets Goodwill - at cost 2,346,556 2,346,556 Intellectual property - at cost 2,305,000 2,305,000 Less: Accumulated amortisation (691,500) (461,000) 1,613,500 1,844,000 Patents and trademarks - at cost 12,234 12,234 Less: Accumulated amortisation (9,725) (7,915) 2,509 4,319 Customer contracts - at cost 639,000 639,000 Less: Accumulated amortisation (228,215) (91,286) 410,785 547,714 Software - at cost 120,007 120,049 Less: Accumulated amortisation (120,007) (120,018) - 31 4,373,350 4,742,620 Reconciliations Reconciliations of the written down values at the beginning and end of the current financial half-year are set out below: Intellectual Patents and Customer Goodwill property trademarks contracts Software Total Group US$ US$ US$ US$ US$ US$ Balance at 1 January 2026 2,346,556 1,844,000 4,319 547,714 31 4,742,620 Exchange differences - - - - 137 137 Amortisation expense - (230,500) (1,810) (136,929) (168) (369,407) Balance at 30 June 2026 2,346,556 1,613,500 2,509 410,785 - 4,373,350 Impairment testing The recoverable amount of the Group's goodwill has been determined by a value-in-use calculation using a discounted cash flow model, based on a 1 year projection period approved by management and extrapolated for a further 4 years using a steady rate, together with a terminal value. Key assumptions are those to which the recoverable amount of an asset or cash-generating units is most sensitive. The following key assumptions were used in the discounte