November Market Update

· Spectur has implemented cost reduction activities totalling $1.15 to $1.3m per annum when fully implemented.

· Managing Director Gerard Dyson has resigned and GM Operations and Process, Anthony Schmidt will become acting CEO following the completion of Dr Dyson’s notice period. Dr Dyson will be moving into a Non-Executive Director role on the Board of Spectur.

· With some delays in project awards, margin shortfalls in Q1 and exit costs, the Board has conservatively updated the revenue guidance range from $8.8m to $10.0m and EBITDA guidance range from ($670k) to ($85k). The run-rate EBITDA, post the conclusion of cost reduction activities, is positive.

· Exceptional sales in October ($702k) underpin confidence in business performance for the balance of 2024.

· Consolidated cash reserves at 31 October 2024 were $0.776m.