Announcement PDF 2025 Annual Report FOS Capital Limited ABN: 76 637 156 275 FY25 Highlights Strong Operating Result Sales: $25.5m +4% yoy EBITDA: $2.1m +43% yoy NPAT: $0.9m +48% yoy EPS: 1.72cps +47% yoy DPS: 1cps 1cps in pcp Solid Balance Sheet Op CF: $2.3m +130% yoy Net Debt: $1.4m +100% yoy Positive Outlook Active Quotes: $115m vs $110m in pcp Orders on Hand: $8.8m (vs $9.5m in pcp) FOS Capital Limited 2025 Annual Report CORPORATE DIRECTORY COMPANY’S REGISTERED ADDRESS FOS Capital Ltd ACN: 637 156 275 Unit 3B/41 Rose Street Richmond VIC 3121 PH. 1300 241 087 www.foscapital.com.au ASX CODE - FOS DIRECTORS Alexander (Sandy) Beard (Non-Executive Chairman) Con Scrinis (Managing Director) Michael Koutsakis (Executive Director) Michael Monsonego (Non-Executive Director) COMPANY SECRETARY Hemant Amin LEGAL ADVISORS Nicholson Ryan Lawyers Level 7, 420 Collins Street Melbourne VIC 3000 PH: 03 9640 0400 AUDITOR William Buck Level 20, 181 William Street Melbourne VIC 3000 PH: 03 9824 8555 SHARE REGISTRY Boardroom Pty Ltd Level 12, 225 George Street Sydney NSW 2000 PH: 1300 737 760 www.boardroomlimited.com.au Further investor information can be located in the Investor Relations tab on FOS Capital’s website at https://www.foscapital.com.au FOS CAPITAL LIMITED | Annual Report | 2 FOS Capital Limited 2025 Annual Report CONTENTS Directors’ report 4 Consolidated statement of profit and loss and other comprehensive income 12 Consolidated Statement of Financial Position 13 Consolidated Statement of Changes in Equity 14 Consolidated Statement of Cash Flows 15 Notes to Consolidated Financial Statements 16 Consolidated Entity Disclosure Statement 41 Directors’ Declaration 42 Auditor’s independence decleration 43 independent Auditors’ Report 44 Shareholder Analysis and Other Stock Exchange Requirements 49 FOS CAPITAL LIMITED | Annual Report | 3 FOS Capital Limited 2025 Annual Report DIRECTORS’ REPORT The directors present their report together with the financial report of the Consolidated entity consisting of FOS Capital Limited (the ‘Company’ or ‘FOS’) and the entities it controlled (The ‘Group’), for the financial year ended on 30 June 2025 and auditor’s report thereon. Comparative financial information shown in this financial statement is for the year ended on 30 June 2024. DIRECTORS The names of each of the directors of the company in office during or since the end of the financial year are set out below, together with their qualifications, experience and special responsibilities are shown below. Mr Alexander (Sandy) Beard, Non-Executive Director since 23 November 2020 Sandy is a seasoned Company Director, Investor and Investment professional focussed on driving value from small cap ASX listed companies and private equity and early stage investments. He is Chairman and substantial holder in ASX Listed Hancock and Gore Limited, a diversified investment company. Previously was CEO and MD of CVC Limited from 2001 – 2019 where he oversaw investment returns in excess of 15% per annum over that period. He has extensive experience working with investee businesses, both in providing advice and in direct management roles, especially bringing management expertise to early-stage businesses and in turning around financial performance to deliver substantial shareholder returns for sustained periods. Sandy’s key focus is extracting and overseeing the creation of shareholder value from the companies with which he is involved. Sandy is currently chair of Hancock & Gore (ASX: HNG), and a Director of Anagenics Limited (ASX:AN1) Sandy was a director of Pure Foods Tasmania Limited (ASX:PFT) until May 2022 and Centrepoint Alliance Ltd (ASX:CAF) until September 2023. Interests in shares: Sandy indirectly holds 330,000 fully paid ordinary shares Con Scrinis, Managing Director since 31 October 2019 Con has been involved in the electrical and lighting industry for over 40 years. He founded commercial lighting manufacturer Moonlighting in 1991. Moonlighting employed 150 staff with revenues of +$30M. Moonlighting was sold to Gerard Lighting in 2004. He then founded and was Managing Director of ASX listed Traffic Technologies which developed the first Australian Standard approved LED traffic light. Traffic Technologies had +$100M in revenues across 3 divisions, Traffic lights, Traffic management and Traffic Signs. Con was a major shareholder and Director of ASX listed Enevis Ltd formerly Stokes Ltd which transformed from an appliance parts manufacturer and distributor to a lighting and audio-visual business. Con holds no other or former directorships in listed entities. Interests in shares: Con indirectly holds 11,553,750 fully paid ordinary shares. Michael Koutsakis, Executive Director since 31 October 2019 Michael completed his Degree in Electrical and Computing Engineering at Monash University and has been involved in the electrical / lighting industry for over 30 years. Michael has held senior sales & marketing positions Sunlighting/Holophane, Moonlighting, Zumtobel / Bega, and WE-EF lighting. Michael then joined the ASX listed Enevis Limited formerly Stokes Limited as Executive General Manager Lighting in order to further develop and grow the companiy’s lighting division. Michael holds no other or former directorships in listed entities. Interests in shares: Michael indirectly holds 11,553,750 fully paid ordinary shares. Michael Monsonego, Non-executive Director since 31 October 2019 After graduating the IDF as field medic in 1999 Michael attended Hadassah College in Jerusalem to study computers engineering. He joined Israeli TV broadcast company TELAD as a software engineer working on digital broadcasting systems. After 2 years he was promoted to lead the software team of TELAD. In 2004 Michael took up a new position as software engineer at Optibase in Israel, leading provider of video over IP solutions. In 2009 he joined Forma lighting in the R&D team responsible for developing LED lighting solutions. Michael then moved through the ranks and now holds the position of General manger of Forma Lighting Hong Kong. Michael holds no other or former directorships in listed entities. Interests in shares: Michael indirectly holds 7,702,500 fully paid ordinary shares FOS CAPITAL LIMITED | Annual Report | 4 FOS Capital Limited 2025 Annual Report DIRECTORS’ REPORT (CONT’D) COMPANY SECRETARY Hemant Amin Hemant is a certified practicing accountant with over 33 years of accounting and business experience. He has worked for both large multinational and public companies as well as smaller family owned operations. He has been a company secretary of Anagenics Ltd since June 2024 and Chief Financial Officer and Company Secretary of Stokes Limited (now SKS Technologies Group Ltd) during 2012 to 2017. PRINCIPAL ACTIVITIES The principal activity of the Consolidated entity includes the manufacture of a full range of commercial luminaires, outdoor fittings and linear extruded lighting and the distribution of a complete range of commercial and architectural lighting solutions. REVIEW OF OPERATIONS AND SIGNIFICANT CHANGES IN THE STATE OF AFFAIRS The Directors of FOS Capital Ltd take great pleasure in reporting to you the substantial work and progress that has been achieved during the year ended 30 June 2025. The financial result for the year ended 30 June 2025 was a profit after tax of $932,646 (2024: $632,161). Revenue for the year ended 30 June 2025 increased by 4% to $25.5 million (2024: $24.5 million), orders in hand at June 2025 $8.8 million (2024: $9.5 million) and active quotes at June 2025 was $115 million (2024: $110 million). On 6 May 2025, the Company acquired the business and assets of Glowing Structures (‘GS’) for total consideration of $700,000. GS was established in 2007 and is based in Melbourne, Victoria. GS is a specialist lighting design consultancy which provides high-quality services ranging from lighting conception through to installation. The company generates annual lighting specifications worth $14 million, which FOS is looking to convert into FOS product sales. On 24 June 2025, the Company acquired the assets of Aldridge Traffic Systems (‘ATS’), which had been part of the Traffic Technologies Group (in Administration) (ASX: TTI). ATS specialises in road and street lighting, a sector with high barriers to entry due to various approval process requirements with road authorities. As such this acquisition has allowed FOS to enter a new, highly defensive sector within the lighting industry. To fund the above acquisition of ATS, FOS successfully completed an equity share placement of $3.7 million (before costs) at 30c per share on 24 June 2025 to settle the consideration payable of $3.1m and provide additional working capital. Substantial progress has been made since the acquisition of ATS, which now has a dedicated team of seven key staff. Most of these employees are in sales functions, all of whom have significant experience in the road sector. Since acquisition, orders procured to date stand at $0.56 million and active quotes of $1.8 million, and FOS is progressing on the sale of non-core assets. Throughout the year additional synergies were created through the consolidation of manufacturing and administration functions across the Group, while progress was also made on the rationalisation of product lines. International market sales have continued to grow, with export market sales reaching $2.7 million (11% of Group sales) for the year, an increase of 62% against the period to 30 June 2024. During the period, the Company’s wholly owned subsidiary, FOS Lighting Pty Ltd, entered into an exclusive distribution agreement with RP Group, a leading German-based global emergency & exit lighting products manufacturer, which expanded the total addressable market for FOS to more than $700m. These markets remain highly fragmented, providing FOS with a competitive advantage as the business continues to scale and presenting further acquisition opportunities. FOS CAPITAL LIMITED | Annual Report | 5 FOS Capital Limited 2025 Annual Report DIRECTORS’ REPORT (CONT’D) REVIEW OF OPERATIONS AND MATERIAL CHANGES IN THE STATE OF AFFAIRS (CONT’D) In terms of capital management during the period, the Group paid a 1 cent per share dividend (fully franked) to shareholders equivalent to $538,061 (2024: $nil) and the final $1.0m KLIK Systems deferred consideration payment. Given positive operating cash flow of $2.3m (2024: operating cash outflow of $1.01m), the Group ended 30 June 2025 with an improved financial position. The outlook for the key industries served by the Group remains strong, including infrastructure, hospitals, and schools, with active quotes at $115.0m while the order book has reduced to $8.8m (2024: $9.6m). This provides good visibility on performance in the current period. Our organisational structure across Australian and New Zealand, rebased earnings profile, and favourable market positioning leave FOS very well placed to generate further growth. Alongside a consistent focus on product development and rationalisation, we are considering several accretive, strategic acquisitions. We would like to take this opportunity to thank our customers for their business, shareholders for their support, and in particular our staff for their diligence over the period and look forward to reporting on our progress in the second half of the financial year. DIVIDENDS The Company declared a 1 cent fully franked dividend in respect of the year ended 30 June 2025, payable on 27 October 2025. On 26 September 2024, the Company paid 1 cent fully franked dividend in respect of the year ended 30 June 2024. OPTIONS For the year ended 30 June 2025 and up to the date of this report, no options or any other contingent equity instruments have been granted or issued by the company. MATERIAL BUSINESS RISKS Directors have identified following key risks as material to the business in the context of this annual report: A) RISKS ASSOCIATED WITH EXPANSION INTO NEW MARKETS As part of the Company’s broader strategy, the Company plans to explore opportunities to pursue business acquisitions that complement its existing business or leverage existing business activities. This may include other lighting and complementary business. A risk exists that additional assets cannot be acquired given the quality of available assets, price expectations of relevant vendors or ability to raise additional capital. Even if viable assets are identified and acquired continued expansions in new geographic or services markets may require significant financial investments. There is a risk that despite efforts from the Company, expansion efforts will fail which will adversely affect the growth and profitability of the Company. B) INDUSTRY DOWNTURN AND GENERAL ECONOMIC CONDITIONS If Australian economic conditions were to adversely deteriorate, there is a risk that the commercial, retail and industrial lighting sector will be affected as consumption is reduced and spending is redirected. Economic conditions may be affected by level of business spending, inflation, interest rates, consumer confidence, access to debt and capital markets and government fiscal, monetary, tax and regulatory policies. Sustained weak economic conditions may affect the Company’s sales and margins and consequently have a material adverse impact on the Company’s future financial performance and financial positions. FOS CAPITAL LIMITED | Annual Report | 6 FOS Capital Limited 2025 Annual Report DIRECTORS’ REPORT (CONT’D) C) PRODUCT FAILURE FOS Group relies on the availability of supply of raw materials to meet the current and expected growth in demand for its products. FOS Group’ business model relies on outsourcing key raw materials to third party suppliers, including from China and other countries. Customers may choose not to continue to use the Company’s products and services over time, which may slow or reduce the Company’s revenue and in turn, have an adverse impact on the Company’s operating and financial performance. Other risks associated with the Company’s product sourcing include the loss or interruption to the business of the Company’s suppliers, increased cost of materials and manufacture, delays, reduction in the quality of the Company’s product and the imposition of additional taxes and duties. There is also a risk that FOS Group may not be able to retain its key existing third-party suppliers. FOS Group’s relationships with its existing suppliers are typically not exclusive, and its suppliers also have relationships with third parties (including FOS Group’ competitors). FOS Group’ current thirdparty suppliers and service providers may cease their supply to FOS Group – for example, as a result of a dispute – which would restrict FOS Group’ ability to source supply from that supplier. Given a portion of the Company’s products are sourced from overseas, this carries with it a degree of sovereign risk, as the actions of domestic and foreign government agencies may impact the Company’s product sourcing. As such, it may result in an increase of product sourcing costs for the Company which may consequently reduce the Company’s margins and profitability. As the Company also manufactures its own products, there is a risk of some product failure. The risk of potential liability is dependent on the extent of the failure rate and the volume of the product in the market. Potential liability could extend to warranty or rework costs or total product recalls. ENVIRONMENTAL REGULATIONS AND PERFORMANCE The company’s operations are not subject to any significant environmental regulations under the Commonwealth or State legislation. However, the Directors believe that the Company has adequate systems in place for the management of its environmental requirements and is not aware of any breach of those environmental requirements as they apply to the economic entity. CYBER RISKS The integrity, availability and confidentiality of data within the Company’s information and operational technology systems may be subject to intentional or unintentional disruption. The Company continues to invest in robust processes and technology, supported by specialist cyber security skills to prevent, detect, respond and recover from such attacks should one occur. The Board consider cyber risks regularly, commensurate with the evolving nature of this risk and the level of internal activity. PROCEEDINGS ON BEHALF OF THE COMPANY No proceedings have been brought on behalf of the company or its controlled entities. FUTURE DEVELOPMENTS The year ahead looks extremely promising, there are a number of projects in the pipeline, and the company is well placed to take advantage of opportunities as they arise. EVENTS SUBSEQUENT TO BALANCE DATE The directors are not aware of any matters or circumstances not otherwise dealt with in this report that has significantly or may significantly affect the operations or the state of affair of the Consolidated entity in future financial years. FOS CAPITAL LIMITED | Annual Report | 7 FOS Capital Limited 2025 Annual Report DIRECTORS’ REPORT (CONT’D) DIRECTORS’ MEETINGS The number of Directors’ meetings held during the financial year and the number of meetings attended by each director (while they were a director) are as follows: Directors’ Meetings Director Con Scrinis Michael Koutsakis Michael Monsonego Mr Alexander (Sandy) Beard Eligible to attend 6 6 6 6 Attended 6 6 6 6 AUDITOR INDEPENDENCE DECLARATION A copy of the auditor’s independence declaration as required under section 307C of the Corporations Act 2001 in relation to the audit for the financial year is provided with this report on page 43. Auditor William Buck continues in office in accordance with section 327 of the Corporations Act 2001. There are no officers of the Company who are former directors of William Buck. NON-AUDIT SERVICES Non-audit services are approved by directors. Non-audit services were provided by the auditors of the Consolidated entity during the year, namely William Buck Audit (Vic) Pty Ltd, network firms of William Buck, and other non-related audit firms. The directors are satisfied that the provision of following non-audit services during the year by the auditor is compatible with the general standard of independence for auditors imposed by the Corporations Act 2001 for the following reasons: • All non-audit services were subject to the corporate governance procedures adopted by FOS Capital Limited and have been reviewed and approved by the directors to ensure they do not impact on the integrity and objectivity of the auditor; and • The non-audit services provided do not undermine the general principles relating to auditor independence as set out in APES 110 Code of Ethics for Professional Accountants (including Independence Standards), as they did not involve reviewing or auditing the auditor’s own work, acting in a management or decision making capacity for FOS Capital Limited or any of its related entities, acting as an advocate for FOS Capital Limited or any of its related entities, or jointly sharing risks and rewards in relation to the operations or activities of FOS Capital Limited or any of its related entities. 2025 2024 $ $ Amounts paid and payable to William Buck for non-audit services: Taxation advisory and compliance services 12,500 24,500 STAFF The Board appreciates the support it continues to have from the company’s staff, and acknowledges, with thanks, the efforts they are all making to assist the company through this growth period. ROUNDING OF AMOUNTS In accordance with ASIC Corporations (Rounding in the Financial/Directors’ Reports) Instrument 2016/191, the amounts in the directors’ report and in the financial report have been rounded to the nearest dollar. FOS CAPITAL LIMITED | Annual Report | 8 FOS Capital Limited 2025 Annual Report DIRECTORS’ REPORT (CONT’D) REMUNERATION REPORT (AUDITED) This report outlines the remuneration arrangements in place for key management personnel of FOS Capital Limited in accordance with the requirements of the Corporations Act 2001 and its Regulations. REMUNERATION PHILOSOPHY Remuneration levels are set by the company in accordance with industry standards to attract and retain suitable qualified and experienced Directors and senior executives. The company has not engaged a remuneration consultant. The company distinguishes the structure of non-executive Director’s remuneration from that of executive Directors and senior executives. The total amount paid to all Non-Executive Directors for their services must not exceed, in aggregate in any financial year, the amount fixed by the Company in general meeting. Currently, this amount has been fixed at $200,000. There are formal contracts of employment for the executives and non-executive directors of the Company. All members of key management personnel are remunerated as contracting parties, with no entitlements to any leave benefits or superannuation. There are no minimum notice periods set out in the event of a termination. The remuneration for Executive Directors is currently not linked to the Company’s financial performance or share price. None of the remuneration of the Directors listed below was considered at risk. There are no short-term or long-term incentives and no retirement schemes in place for key management personnel of the Consolidated entity. Remuneration is not tied to the performance of the Company with the remuneration being fixed 100% for 2025 and 2024. During the year ended 30 June 2025 the Company did not engage an external remuneration consultant. Details of non-executive directors, executive directors and key management personnel: Con Scrinis Managing Director Michael Koutsakis Executive Director Michael Monsonego Non-Executive Director Mr Alexander (Sandy) Beard Non-Executive Director Pauline Koutsakis* Marketing executive *Pauline Koutsakis was no longer considered a key management personnel from 1 July 2024. DIRECTORS’ AND OTHER OFFICERS’ EMOLUMENTS Short Term Salary and fees Name of Director and key management personnel Con Scrinis Michael Koutsakis Michael Monsonego Mr Alexander (Sandy) Beard Pauline Koutsakis 2025 2024 $ 270,000 270,000 25,000 50,000 - $ 240,000 240,000 25,000 50,000 120,000 615,000 675,000 All of the named directors and key management personnel are remunerated through associated entities of the individuals. Consequences of Company’s performance on shareholder wealth FOS CAPITAL LIMITED | Annual Report | 9 FOS Capital Limited 2025 Annual Report DIRECTORS’ REPORT (CONT’D) The following table summarises company performance for last two financial years of its operations and key performance indicators: Revenue % increase in revenue Profit before tax % increase in profit before tax Dividend (in cents) to shareholders Total remuneration of KMP Total performance based remuneration 2025 2024 $25,493,693 $24,527,233 4% 43% $1,243,203 $830,860 50% 11% 1 1 $615,000 $675,000 - 2023 $17,120,295 27% $742,709 81% $660,000 2022 $13,506,901 66% $411,194 -48% 0.5 $621,000 2021 $8,156,915 191% $789,280 489% $566,833 - - - - Directors’ equity holdings As at 30 June 2025 key management personnel had relevant interests in ordinary shares (held either directly or indirectly) in FOS Capital Limited as follows: Director Con Scrinis Michael Koutsakis Michael Monsonego Mr Alexander (Sandy) Beard Opening balance 11,553,750 11,553,750 7,702,500 330,000 Shares issued as part of remuneration - On market purchase or disposal - Closing Balance 11,553,750 11,553,750 7,702,500 330,000 As at 30 June 2024, the key management personnel had relevant interests in the following number of ordinary shares (held either directly or indirectly) in FOS Capital Limited: Director Con Scrinis Michael Koutsakis Michael Monsonego Mr Alexander (Sandy) Beard Opening balance 11,531,250 11,531,250 7,687,500 330,000 Shares issued as part of remuneration - On market purchase or disposal 22,500 22,500 15,000 - Closing balance 11,553,750 11,553,750 7,702,500 330,000 Directors did not hold any options as at 30 June 2025 (2024: nil). Key management personnel did not receive any share-based compensation during the year. This concludes the Remuneration report, which has been audited. TRANSACTIONS WITH KEY MANAGEMENT PERSONNEL KMS Properties Pty Ltd (KMS), an entity related to Messrs Con Scrinis, Michael Koutsakis and Michael Monsonego, leased the premises to the Company on an arm’s length commercial premises leasing two premises. The first premises leasing term started on 30 November 2019 with an initial term of 5 years, and on 30 November 2024 this lease contract was renewed for 5 years. KMS leased the second premises on 8 January 2024 with an initial term of 5 years. During the year ended 30 June 2025, the Consolidated entity paid $116,846 (2024: $95,694) to KMS. FOS CAPITAL LIMITED | Annual Report | 10 FOS Capital Limited 2025 Annual Report DIRECTORS’ REPORT (CONT’D) CORPORATE GOVERNANCE STATEMENT The Board of Directors of FOS Capital Limited is responsible for corporate governance. The Board has chosen to prepare the Corporate Governance Statement (CGS) in accordance with the third edition of the ASX Corporate Governance Council’s Principles and Recommendations under which the CGS may be made available on the Company’s website. Accordingly, a copy of the Company’s CGS is available on the FOS Capital website at: https://www.foscapital.com.au/corporate-governance Signed on 27 August 2025 in accordance with a resolution of the Directors made pursuant to section 298(2) of the Corporations Act 2001. Con Scrinis Director 27 August 2025 FOS CAPITAL LIMITED | Annual Report | 11 FOS Capital Limited 2025 Annual Report CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2025 FY 2025 FY 2024 Notes $ $ 4(a) 25,493,693 24,527,233 Cost of sales (14,213,301) (15,379,657) Gross profit 11,280,392 9,147,576 116,563 210,857 Expenses Admin and corporate expenses (5,745,378) (4,452,153) Marketing, selling and distribution expenses (2,215,188) (1,840,242) Amortisation of right of use assets (1,357,401) (1,011,880) Depreciation & amortisation (403,886) (349,772) Finance costs (432,725) (270,130) - (603,396) (10,154,578) (8,527,573) 1,242,377 (309,731) 830,860 (198,699) 932,646 632,161 - Foreign currency translation gain / (loss) 22,587 (6,846) Total comprehensive income attributable to: members of the parent entity 955,233 625,315 1.72 1.17 Revenue and other income Revenue Other Income 4(b) Restructuring costs Total expenses Profit before income tax Income tax expense 6 Profit after income tax Other comprehensive income Items that may be reclassified to profit or loss: Earnings per share for profit attributable to the equity holders of the entity: Basic and diluted earnings per share (cents per share) 19 The above statement should be read in conjunction with the accompanying notes. FOS CAPITAL LIMITED | Annual Report | 12 FOS Capital Limited 2025 Annual Report CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2025 30 June 2025 $ 30 June 2024 $ 2,499,710 3,869,480 6,301,129 450,000 46,557 1,677,005 4,942,370 5,901,731 24,989 13,166,876 12,546,095 1,653,833 350,000 2,727,304 7,536,674 685,856 1,045,849 2,466,168 4,945,268 778,210 Total Non-Current Assets 12,953,667 9,235,495 Total Assets 25,670,543 21,781,590 1,671,584 200,000 1,485,804 2,313,958 1,345,762 208,470 2,926,985 1,000,000 1,101,592 1,151,152 1,367,755 147,549 7,225,578 7,695,033 1,580,368 1,339,157 1,325,462 83,171 1,500,000 1,442,896 1,160,059 70,912 Total Non-Current Liabilities 4,328,158 4,173,867 Total Liabilities 11,553,736 11,868,900 Net Assets 14,116,807 9,912,690 9,208,987 (54,369) 4,962,189 5,422,042 (76,956) 4,567,604 14,116,807 9,912,690 Notes Current Assets Cash and cash equivalents Trade and other receivables Inventories Assets held for sale Prepayments 22(a) 8 9 23(a) Total Current Assets Non-Current Assets Plant and equipment Investment Right of use assets Intangible assets Deferred tax assets Current Liabilities Trade and other payables Deferred consideration Lease liabilities Borrowings Provision for employee entitlements Provision for current income tax expense 10 13 12 13 14 23(a) 11 16 15 Total Current Liabilities Non-Current Liabilities Borrowings Lease liabilities Deferred tax liabilities Provisions for employee entitlements Equity Contributed equity Foreign currency translation reserve Retained earnings Total Equity 16 11 17 15 18 The above statement should be read in conjunction with the accompanying notes. FOS CAPITAL LIMITED | Annual Report | 13 FOS Capital Limited 2025 Annual Report CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 2025 Contributed Equity Foreign currency translation reserve Retained earnings Total $ $ $ $ 5,422,042 (76,956) 4,567,604 9,912,690 Profit after income tax expense for the year - - 932,646 932,646 Foreign currency translation gains - 22,587 - 22,587 Total comprehensive income for the year - 22,587 932,646 955,233 Shares issued to vendors of Glowing Structures 300,000 - - 300,000 Shares Issued – share placements (net of cost of capital raising) 3,445,278 As at 1 July 2024 Transactions with owners in their capacity as owners: Shares Issued to employees 3,445,278 41,667 - - 41,667 - - (538,061) (538,061) 9,208,987 (54,369) 4,962,189 14,116,807 Contributed Equity Foreign currency translation reserve Retained earnings Total $ $ $ $ 5,422,042 (70,110) 3,935,443 9,287,375 Profit after income tax expense for the year - - 632,161 632,161 Foreign currency translation (losses) - (6,846) - (6,846) Total comprehensive income for the year - (6,846) 632,161 625,