Announcement PDF Appendix 4D – Half-Year Report Report for the half-year ended 31 December 2024 Spectur Ltd | ACN.140 151 579 Report for the half-year ended 31 December 2024 This report presents the results for Spectur Ltd, for the half-year ended 31 December 2024 (current period) compared with the half year ended 31 December 2023 (prior period). Results for announcement to the market H1 FY25 $’000 H1 FY24 $’000 Change Revenue from Ordinary Activities 4,464 4,160 +7% Profit from ordinary activities after tax attributable to the owners (157) (678) +77% Profit for the year attributable to the owners (157) (678) +77% Revenue Operating and Financial Review The detailed Operating and Financial Review (OFR) is contained in the Directors’ Report within the Interim Financial Report. Record Breaking First Half Highlights • Operating Revenue: $4.46M, increased by 7% from $4.16M in H1 FY24 • Subscription Revenue: $1.81M, increased by 26% from $1.44M in H1 FY24 • Rental Revenue: $1.27M, increased by 9% from $1.16 in H1 FY24 • Field Services: $543K, increased by 19% from $455K, in H1 FY24 • Total Recurring Revenue (ARR): $3.082M, nearly 70% of total revenues • Net Profit After Tax (NPAT): Loss of $157K, a significant improvement from the $678K loss in H1 FY24. • Earnings Per Share (EPS): Negative 0.05 cents, an improvement from negative 0.30 cents last year. Increased Gross Profit and Lowered Cost • Gross Profit: $2.65M, increased by 17% from $2.27M in H1 FY24 or to 59% from 55% in the prior corresponding period. Balance Sheet and Cash Flows were Improved • Total Assets: $4.43M, slightly down from $4.56M as at 30 June 2024. • Cash and Cash Equivalents: $869K, up from $765K. • Net Working Capital: $338K (current assets of $3.01M less current liabilities of $2.67M). SPECTUR LIMITED INTERIM FINANCIAL STATEMENTS HALF YEAR ENDED 31 DECEMBER 2024 A P P E N D I X 4 D – H A L F -Y E A R R E P O R T Net Tangible Assets Net tangible asset backing per ordinary security (cents per share): 0.13 Details of Entities over which control has been gained during the period There were no entities over which control was gained during the period. Details of Entities over which control has been lost during the period There were no entities over which control has been lost during the period. Dividends There were no dividends paid, recommended or declared during the current financial period. Authorisation of release This announcement was authorised to be given to the ASX by the Board of Directors of Spectur Ltd. Date of release 27 February 2025 SPECTUR LIMITED INTERIM FINANCIAL STATEMENTS HALF YEAR ENDED 31 DECEMBER 2024 Consolidated Interim Financial Statements 31 December 2024 Spectur Limited ACN 140 151 579 TA B L E O F C O N T E N T S 3 Corporate Directory 5 Directors’ Report 11 Auditor’s Independence Declaration 12 Condensed Consolidated Statement of Profit or Loss and other Comprehensive Income 13 Condensed Consolidated Statement of Financial Position 14 Condensed Consolidated Statement of Changes in Equity 15 Condensed Consolidated Statement of Cash Flows 17 Basis of Preparation 19 Other Notes to the Condensed Consolidated Interim Financial Statements 32 Directors’ Declaration 34 Independent Auditor’s Review Report SPECTUR LIMITED INTERIM FINANCIAL STATEMENTS HALF YEAR ENDED 31 DECEMBER 2024 1 of 36 Corporate Directory C O R P O R AT E D I R E C TO RY Directors Share Registry Mr Darren John Cooper Automic Registry Services Non-Executive Chairman Level 2, 267 St Georges Terrace Dr Gerard John Dyson Non-Executive Director Mr Marco Correia Da Silva Non-Executive Director Perth, WA 6000 GPO Box 5193 Sydney, NSW, 2001 Telephone: 1300 288 664 (within Australia) Email: hello@automic.com.au Company Secretary Mrs Suzie Jayne Foreman Auditors HLB Mann Judd Key Management Personnel Level 4, 130 Stirling Street Perth, WA 6000 Mr. Anthony Schmidt Acting Chief Executive Officer Solicitors Blackwall Legal Bankers ANZ Bank 127/816 Beeliar Drive Success, WA 6164 Level 26, 140 St Georges Terrace Perth, WA 6000 Registered Address and Principal Place of Business 12 Fargo Way, Welshpool, WA 6106 Australia Telephone: 1300 802 960 Website : www.spectur.com.au ASX code SP3 SPECTUR LIMITED INTERIM FINANCIAL STATEMENTS HALF YEAR ENDED 31 DECEMBER 2024 3 of 36 Directors’ Report D I R E C TO R S ’ R E P O R T The Board of Directors of Spectur Limited present their report on Spectur Limited (“Company” or “Spectur”) and its controlled entities (“Group”) for the half year ended 31 December 2024. Directors and Officers The names of directors and officers who held office during or since the end of the half year and until the date of this report are as follows. All directors and officers held office for this entire period, unless otherwise stated. Darren John Cooper Gerard John Dyson Non-Executive Chairman Managing Director to 31 January 2025, Non-Executive Director from 1 February 2025 to date. Marco Correia Da Silva Non-Executive Director Suzie Jayne Foreman Company Secretary Principal Activities Spectur Limited is committed to its core mission of delivering innovative, solar-powered security and surveillance solutions that enhance safety, security, and sustainability. The Company has continued to refine and expand its product offerings, integrating more advanced technology and software-driven features to cater to the growing demands of governments, utilities, and construction firms. Spectur has made significant progress in integrating AI-driven analytics, automation, and remote monitoring capabilities into its systems, providing customers with reliable, real-time solutions to address their security and surveillance challenges. Operating and Financial Review Strategic Operational Performance Spectur continues to focus on delivering safety, security, and sustainability solutions across government, utilities, and construction sectors, with strong market forces driving demand. The first half of the financial year presented a mix of opportunities and challenges for Spectur. The Company experienced an increase in demand for its security and surveillance solutions due to rising crime rates, labour shortages in the security industry, and stricter compliance regulations. At the same time, shifting economic conditions, particularly in the construction sector, introduced some constraints, with project deferrals impacting certain sales opportunities. Despite these challenges, Spectur was able to adapt and focus on its high-margin, recurring revenue streams, ensuring stability and sustainable growth. Growing interest in safety and emergency warning solutions demonstrates increasing demand for AI-powered monitoring and automation. The deployment of Spectur’s STAPower platform has expanded, enabling flexible, solar-powered solutions for a variety of locations especially in remote areas. We continue to develop our capabilities in this growing addressable market. SPECTUR LIMITED INTERIM FINANCIAL STATEMENTS HALF YEAR ENDED 31 DECEMBER 2024 5 of 36 D I R E C TO R S ’ R E P O R T HY December 2024 Highlights Cost Optimisation – In the latter half of H1, Spectur undertook a comprehensive strategic review of its operations and cost structure, as part of this process and implemented several strategic initiatives, including shifting to a software focused model for our New Zealand operations as well as implementing a series of employee redundancies in multiple areas of the business. While some employee and other exit costs will impact H2, the overall restructuring has significantly lowered the Company’s ongoing expense base. Change in Senior Leadership – In November, Managing Director Dr. Gerard Dyson resigned from his executive role after making a significant contribution to Spectur’s strategic direction. We are grateful for Gerard’s leadership and are pleased that he will continue to support the Company as a NonExecutive Director. Mr. Anthony Schmidt, previously Spectur’s General Manager of Operations, was appointed Acting CEO and officially assumed the role on 2 January 2025. Technology Enhancement – Spectur focused on backend enhancements, software scalability, and platform integrations to support long-term growth. Key achievements included unifying the desktop and mobile user experience with an enhanced live view for 4K camera users, and further development in the Emergency Response Beacon System capabilities, including addition of a housed, monitored rescue tube floatation device for enhanced response to beach and waterway emergencies. Sales & Marketing – Spectur’s sales and marketing efforts delivered some strong revenue growth in expanded government and utility contracts, growing reseller channels, and new distribution partnerships. Key highlights include 3 Crowns Technologies signing a three-year contract with Transport for NSW for our Envirocoms, SecureGo and related applications, with potential extensions up to nine years, and the addition of VSP Security as a new distribution partner. Enterprise Resource Planning (ERP) Transformation – Spectur successfully transitioned away from Microsoft Dynamics to SimPRO, a more cost-effective and turnkey ERP solution, reducing ERP expenses by 70%. SimPRO has significantly improved field service operations and improved revenue and margin management. Ongoing integration across financial, payroll, service, sales, and rental function is ongoing in line with efforts to digitise and automate operations to further reduce administrative overhead and improve service delivery as the business scales. SPECTUR LIMITED INTERIM FINANCIAL STATEMENTS HALF YEAR ENDED 31 DECEMBER 2024 6 of 36 D I R E C TO R S ’ R E P O R T Financial Performance The Group delivered a record half year of financial performance across many key metrics of consolidated Revenue, Gross Profit, Loss before Tax, and Net Loss after Tax, resulting in improvement of Loss per Share to members. Operating Revenue Results H1 FY25 H1 FY25 $’000 H1 FY24 $’000 Change System sales 839 1,102 -24% Field services 543 455 +19% Subscriptions 1,812 1,442 +26% Rentals 1,270 1,161 +9% Total 4,464 4,160 +7% Revenue HY December 2024 Highlights The Company achieved $4.464M in revenue for the half year ended 31 December 2024, a 7% increase from the previous year’s $4.160M, driven by a 26% rise in subscription-based revenue as more customers transitioned to service agreements. Field services revenue grew by 19% due to higher billable service volumes and reduced revenue leakage following the full implementation of SimPRO. Rental revenue increased by 9%, driven by price adjustments while system sales declined by 24% as the Company shifted focus away from lowermargin projects. Overall, recurring revenue from rentals and subscriptions totalled $3.082M, representing nearly 70% of total revenue. This strong ARR-driven revenue stream enhances financial stability, improves revenue predictability, and improves the business position for sustainable long-term growth. Expenses Expenses Finance charges Employee and Admin Other expenses Total H1 FY25 $’000 H1 FY24 $’000 Change 52 84 -38% 2,650 2,898 -9% 351 372 -6% 3,053 3,354 -9% Operating expenses reduced by 9% on the back of cost management and optimisation initiatives. Finance charges dropped 38% following full repayment of the EGP Capital loan, while employee and administrative costs declined by 9%. Although non-cash share-based payments were excluded from these figures, a recalculation of long-term incentives for current staff led to a $104K write-back, further lowering overheads. These measures collectively drove a substantial 77% reduction in net loss, cutting it from $678K in the prior reporting period to just $157K in H1 December 2024. SPECTUR LIMITED INTERIM FINANCIAL STATEMENTS HALF YEAR ENDED 31 DECEMBER 2024 7 of 36 D I R E C TO R S ’ R E P O R T Gross Margin and Reduced Costs Gross margin increased by $379k (17%) in H1 FY25 compared to H1 FY24. Gross margin percentages increased from 55% (H1 FY24) to 59% (H1 FY25). These gross margin improvements are consistent with our operational excellence strategy that focusses on improving margins, capping overhead increase and growing revenues. The Company also improved service margins, with field services increasing from 31% to 40% and rentals achieving 89% margin, and sales equipment increasing from 45% to 56%. Capital Raising In H1 FY25, Spectur received commitments totalling $465K from among its largest shareholders. The 23,250,000 fully paid ordinary shares were issued at the price of 2.0c per Share with an additional attaching unlisted Option exercisable at 2.9c on or before 30 May 2025. Debt Facility Utilised The Company continued the policy of not capitalising research and development, ERP implementations or other intangibles leading to intangibles largely being limited to costs associated with intellectual property protection. From HY1 FY25 Spectur is absent of structural debt, substantial intangibles or other related obstacles to future profitability. Cash Cash and cash equivalents increased to $869K from $765K, providing liquidity to support ongoing operations and future investments. With a strong recurring revenue base and ongoing cost reductions, the Company’s cash position is expected to further improve, enhancing financial resilience and supporting strategic growth initiatives. Significant Events Subsequent to Balance Date In January 2025, Spectur New Zealand terminated a lease agreement, effective 28 February 2025. The termination will result in the cessation of lease payments and the derecognition of the associated lease liability from the Group’s financial position. The financial impact of this lease termination is reflected in the Group’s financial statements for the half year ending 31 December 2024, and the associated adjustments have been recognized in accordance with the relevant accounting standards. No other events or circumstances have arisen since the end of the financial period that materially affect the Group’s operations. Dividends No dividends were paid or declared since the start of the financial period. No recommendation for payment of dividends has been made. SPECTUR LIMITED INTERIM FINANCIAL STATEMENTS HALF YEAR ENDED 31 DECEMBER 2024 8 of 36 D I R E C TO R S ’ R E P O R T This report is signed in accordance with a resolution of the Board. Auditor Independence and Non-Auditor Services Section 307C of the Corporations Act 2001 requires our auditors, HLB Mann Judd, to provide the Directors of the Company with an Independence Declaration in relation to the review of the half year report. This Independence Declaration is set out on page 11 and forms part of this Directors’ report for the half year ended 31 December 2024. Signed in accordance with a resolution of the directors. Darren John Cooper Non-Executive Chairman Dated this 27 February 2025 For more interaction please visit https://investorhub.spectur.com.au/link/drL7ve SPECTUR LIMITED INTERIM FINANCIAL STATEMENTS HALF YEAR ENDED 31 DECEMBER 2024 9 of 36 Auditor’s Independence Declaration AUDITOR’S INDEPENDENCE DECLARATION As lead auditor for the review of the consolidated financial report of Spectur Limited for the halfyear ended 31 December 2024, I declare that to the best of my knowledge and belief, there have been no contraventions of: a) the auditor independence requirements of the Corporations Act 2001 in relation to the review; and b) any applicable code of professional conduct in relation to the review. Perth, Western Australia 27 February 2025 N G Neill Partner SPECTUR LIMITED INTERIM FINANCIAL STATEMENTS HALF YEAR ENDED 31 DECEMBER 2024 11 of 36 C O N D E N S E D C O N S O L I DAT E D S TAT E M E N T O F P R O F I T O R LO S S A N D OT H E R C O M P R E H E N S I V E I N C O M E F O R T H E H A L F -Y E A R E N D E D 3 1 D E C E M B E R 2 0 2 4 Six months to 31 December 2024 Six months to 31 December 2023 $ $ 4,463,823 4,160,293 Cost of Sales (1,810,619) (1,885,869) Gross profit 2,653,204 2,274,424 (Loss) / Profit on disposal of property, plant and equipment 16,323 (29,208) Research and development expenses (24,321) (47,487) Employee benefits (2,197,403) (2,386,831) General and administrative expenses (452,492) (511,388) Marketing and advertising (151,382) (132,302) Property expenses – includes lease payments for short term leases (30,914) (31,899) Depreciation and amortisation (142,269) (131,010) Notes Continuing Operations Revenue 2 Finance charges 3 (52,443) (84,449) Share-based payment expense (reversal) 14 (2,091) 56,285 (383,788) (1,023,865) 227,025 345,563 (156,763) (678,302) - - 1,389 (1,867) (155,374) (680,169) (0.05) (0.30) SPECTUR LIMITED INTERIM FINANCIAL STATEMENTS HALF YEAR ENDED 31 DECEMBER 2024 12 of 36 Loss before income tax benefit Income tax benefit 4 Loss for the period Other comprehensive loss for the period Items that may be reclassified to profit or loss: Exchange differences on translation of foreign operations Total comprehensive loss for the period Basic and diluted loss per share (cents per share) 7 The accompanying notes form part of these financial statements. C O N D E N S E D C O N S O L I DAT E D S TAT E M E N T O F F I N A N C I A L P O S I T I O N A S AT 3 1 D E C E M B E R 2 0 2 4 As at 31 December 2024 As at 30 June 2024 $ $ Notes Assets Current Assets Cash and cash equivalents 868,948 764,895 1,445,005 1,749,409 694,733 646,996 3,008,686 3,161,300 609,881 387,247 132,651 132,651 132,040 153,139 549,361 730,128 Total Non-Current Assets 1,423,933 1,403,165 Total Assets 4,432,619 4,564,465 658,801 1,037,526 395,881 522,415 73,882 9,187 164,321 141,329 1,217,683 1,200,939 Trade and other receivables 8 Inventories Total Current Assets Non-Current Assets Property, plant and equipment 9 Other receivables Intangible assets 10 Right-of-use-assets Liabilities Current Liabilities Trade and other payables 11 Employee benefits Borrowings 12 Lease liability Unearned revenue 13 Provisions 159,902 156,200 2,670,470 3,067,596 636,244 663,451 74,932 68,495 32,920 55,326 457,948 630,372 Total Non-Current Liabilities 1,202,044 1,417,644 Total Liabilities 3,872,514 4,485,240 560,105 79,225 Total Current Liabilities Non-Current Liabilities Unearned revenue 13 Employee benefits Borrowings 12 Lease liability Net Assets Equity Issued capital 5 17,811,672 16,923,016 Reserves 6 336,899 587,912 (17,588,466) (17,431,703) 560,105 79,225 Accumulated losses Net Equity The accompanying notes form part of these financial statements. SPECTUR LIMITED INTERIM FINANCIAL STATEMENTS HALF YEAR ENDED 31 DECEMBER 2024 13 of 36 C O N D E N S E D C O N S O L I DAT E D S TAT E M E N T O F C H A N G E S I N E Q U I T Y FOR THE HALF YE AR ENDED 31 DECEMBER 2024 Issued Capital Reserves Accumulated Losses Total Equity $ $ $ $ 16,923,016 587,912 (17,431,703) 79,225 Loss for the period - - (156,763) (156,763) Other comprehensive income - 1,389 - 1,389 Total comprehensive loss for the period - 1,389 (156,763) (155,374) 897,824 - - 897,824 (9,168) - - (9,168) Balance at 1 July 2024 Shares issued during the period Share issue costs Value of performance brought to account during the period 23,776 23,776 Value of performance rights converted to issued shares - (261,923) - (261,923) Value of cancelled performance rights - (44,684) - (44,684) Fair Value Adjustments of performance rights - (102,740) - (102,740) Value of service rights brought to account during the period - 133,169 - 133,169 Balance as at 31 December 2024 17,811,672 336,899 (17,588,466) 560,105 Issued Capital Reserves Accumulated Losses Total Equity $ $ $ $ 16,109,084 730,413 (15,111,244) 1,728,253 Loss for the period - - (678,302) (678,302) Other comprehensive income - (1,867) - (1,867) Total comprehensive loss for the period - (1,867) (678,302) (680,169) 127,500 - - 127,500 (1,912) - - (1,912) Value of expired performance rights written back during the period - (27,668) - (27,668) Value of expired options transferred to accumulated losses - (89,478) 89,478 - Value of performance rights written back to account during the period - (75,116) - (75,116) Value of service rights brought to account during the period - 53,934 - 53,934 Balance as at 31 December 2023 16,234,672 590,218 (15,700,068) 1,124,822 Balance at 1 July 2023 Shares issued during the period Share issue costs The accompanying notes form part of these financial statements. SPECTUR LIMITED INTERIM FINANCIAL STATEMENTS HALF YEAR ENDED 31 DECEMBER 2024 14 of 36 C O N D E N S E D C O N S O L I DAT E D S TAT E M E N T O F C A S H F LOW S FOR THE HALF YE AR ENDED 31 DECEMBER 2024 Six months to 31 December 2024 $ Six months to 31 December 2023 $ 5,133,312 4,950,835 Payments to suppliers and employees (5,384,132) (5,507,333) Interest paid and other finance costs (65,852) (82,773) R & D tax incentives received 350,979 439,581 Net cash from/(used in) operating activities 34,307 (199,690) 15,000 - Purchase of property, plant and equipment (239,353) (40,265) Net cash (used in) investing activities (224,353) (40,265) Proceeds from issue and subscription of shares 465,000 75,000 Repayment of lease liabilities (83,170) (80,921) Proceeds from borrowings 270,256 169,589 Repayment of borrowings (357,987) (501,240) Net cash (used in)/from financing activities 294,099 (337,572) Net (decrease)/increase in cash and cash equivalents held 104,053 (577,527) Cash and cash equivalents at the beginning of the half year 764,895 1,522,090 Cash and cash equivalents at the end of the half year 868,948 944,563 Cash flows from operating activities Receipts from customers Cash flows from investing activities Proceeds from sale of property, plant and equipment Cash flow from financing activities The accompanying notes form part of these financial statements. SPECTUR LIMITED INTERIM FINANCIAL STATEMENTS HALF YEAR ENDED 31 DECEMBER 2024 15 of 36 Basis of Preparation SPECTUR LIMITED INTERIM FINANCIAL STATEMENTS HALF YEAR ENDED 31 DECEMBER 2024 16 of 36 B A S I S O F P R E PA R AT I O N These condensed interim general-purpose financial statements have been prepared in accordance with Australian Accounting Standards including AASB 134 Interim Financial Reporting and Accounting Interpretations issued by the Australian Accounting Standards Board (“AASB”), and the Corporations Act 2001, as appropriate for for-profit oriented entities. The interim financial statements do not include full disclosures of the type normally included in the full financial report. Therefore, it cannot be expected to provide as full an understanding of the financial performance, financial position and cash flows of the Group as the full financial report. It is recommended these interim financial statements be read in conjunction with the full financial report for the year ended 30 June 2024 and any public announcements made by Spectur Limited during the half year in accordance with continuous disclosure requirements arising under the Corporations Act 2001 and the ASX Listing Rules. The accounting policies and methods of computation adopted are consistent with those of the previous financial year and corresponding half year, except for the impact of the new Standards and Interpretations described in (b) below. These accounting policies are consistent with Australian Accounting Standards and with International Financial Reporting Standards. The financial statements have been prepared under the historical cost convention, except for, where applicable, the revaluation of financial assets and liabilities at fair value through profit or loss. The financial statements are presented in Australian dollars. Spectur is listed on the Australian Securities Exchange (ASX) and is a public company, incorporated in Australia and operating in Australia and New Zealand. The Group’s principal activities are detailed in the Directors’ Report. For the purpose of preparing the interim financial statements, the half year has been treated as a discrete reporting period. SPECTUR LIMITED INTERIM FINANCIAL STATEMENTS HALF YEAR ENDED 31 DECEMBER 2024 17 of 36 B A S I S O F P R E PA R AT I O N (a) Statement of Compliance The financial report was authorised for issue on 27 February 2025. The condensed consolidated financial statements comply with Australian Accounting Standards, which include Australian equivalents to International Financial Reporting Standards (AIFRS). Compliance with AIFRS ensures that the financial report, comprising the condensed consolidated financial statements and notes thereto, complies with International Financial Reporting Standards (IFRS). (b) Adoption of New and Revised Standards New Standards and Interpretations applicable for the half year ended 31 December 2024 For the period ended 31 December 2024, the Directors have reviewed all of the new and revised Standards and Interpretations issued by the AASB that are relevant to the Group and effective for the current reporting period. As a result of this review the Directors have determined that there is no material impact of the new and revised Standards and Interpretations on the Group, and therefore no change is necessary to accounting policies. New Standards and Interpretations in issue not yet adopted The Directors have also reviewed all of the new and revised Standards and Interpretations in issue but not yet mandatory for the period ended 31 December 2024. As a result of this review the Directors have determined that there is no material impact of these Standards and Interpretations in issue on the Group and, therefore, no change is necessary to accounting policies. (c) Going concern The financial report has been prepared on the 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. SPECTUR LIMITED INTERIM FINANCIAL STATEMENTS HALF YEAR ENDED 31 DECEMBER 2024 18 of 36 OT H E R N OT E S TO T H E C O N D E N S E D C O N S O L I DAT E D I N T E R I M F I N A N C I A L S TAT E M E N T S Note 1: Segment Reporting The Group’s operating segments have been determined with reference to the monthly management accounts used by the Chief Operating Decision Maker to make decisions regarding the Group’s operations and allocation of working capital. Due to the size and nature of the Group, the MD and now CEO has been determined as the Chief Operating Decision Maker. Based on the quantitative thresholds included in AASB 8, there is only one reportable segment, being development, manufacture and selling of Remote Solar 3G/4G based deterrence, surveillance and warning systems, and associated products and services. The revenues and results of this segment are those of the Group as a whole and are set out in the Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income and the assets and liabilities of the Company as a whole are set out in the Condensed Consolidated Statement of Financial Position. Note 2: Revenue from Contracts with Customers Disaggregation of revenue AASB 15 requires an entity to disclose a disaggregation of revenue from contracts with customers. The Group has selected to disaggregate revenue according to the timing of the transfer of goods and/or services. The Group derives its revenue from the sale of goods and the provision of services at a point in time and over time in the following major categories. Six months to 31 December 2024 (Group) Six months to 31 December 2023 (Group) $ $ Equipment sales 838,854 1,101,223 Field services 543,556 454,848 1,382,410 1,556,071 1,269,662 1,161,042 1,811,751 1,443,180 3,081,413 2,604,222 4,463,823 4,160,293 SPECTUR LIMITED INTERIM FINANCIAL STATEMENTS HALF YEAR ENDED 31 DECEMBER 2024 19 of 36 At a point in time Over time Equipment rentals Subscription revenue Total revenue OT H E R N OT E S TO T H E C O N D E N S E D C O N S O L I DAT E D I N T E R I M F I N A N C I A L S TAT E M E N T S Note 3: Finance charges Six months to 31 December 2024 (Group) Six months to 31 December 2023 (Group) $ $ Interest and finance charges paid/payable on borrowings (18,318) (36,189) Interest and finance charges paid/payable on lease liabilities (34,125) (48,260) (52,443) (84,449) Six months to 31 December 2024 (Group) Six months to 31 December 2023 (Group) $ $ FY 2024 R&D Grant received 350,979 439,580 R&D Grant movement in revenue (123,954) (94,017) 227,025 345,563 31 December 2024 30 June 2024 $ $ 17,811,672 16,923,016 SPECTUR LIMITED INTERIM FINANCIAL STATEMENTS HALF YEAR ENDED 31 DECEMBER 2024 20 of 36 Note 4: Income tax benefit Note 5: Issued Capital Ordinary shares issued and fully paid OT H E R N OT E S TO T H E C O N D E N S E D C O N S O L I DAT E D I N T E R I M F I N A N C I A L S TAT E M E N T S Movement in ordinary shares on issue As at 30 June 2024, the Company had the following issued share capital: Shares Issue price ($) $ Details Date Balance 30/06/2023 225,784,876 Placement Shares 24/10/2023 3,750,000 0.020 75,000 Remuneration Shares in lieu of salary 5/12/2023 2,386,021 0.022 52,500 Placement Shares 13/05/2024 12,500,000 0.020 250,000 Entitlements Issue 6/06/2024 23,077,374 0.020 461,547 16,109,084 Share issue transaction costs, net of tax (25,115) Balance 30/06/2024 267,498,271 16,923,016 Placement Shares 29/07/2024 23,250,000 0.020 465,000 Remuneration Shares in lieu of salary 05/12/2024 9,193,482 0.018 170,897 Remuneration Shares in lieu of Perform