Announcement PDF SportsHero Limited ACN 123 423 987 Annual Report for the year ended 30 June 2025 SPORTSHERO LIMITED ANNUAL REPORT 30 JUNE 2025 CORPORATE DIRECTORY Directors Stratos Karousos (Non-Executive Chair) Tom Lapping (Director and CEO) Adele Sim (Executive Director) Company Secretary Ross Pearson Registered Office and Principal Place of Business 22 Glenview Road Mt Ku-ring-gai NSW 2050 Telephone: +61 (2) 9457 8276 Website: https://asx.sportshero.live/ Auditor Hall Chadwick (NSW) Level 40, 2 Park Street Sydney NSW 2000 Share Registry Automic Group Level 5, 126 Phillip Street Sydney NSW 2000 Telephone: 1300 288 664 Stock Exchange Listing Australian Securities Exchange ASX Code: SHO 2 SPORTSHERO LIMITED ANNUAL REPORT 30 JUNE 2025 CONTENTS PAGE OPERATIONS REPORT 4 DIRECTORS’ REPORT 8 AUDITOR’S INDEPENDENCE DECLARATION 18 STATEMENT OF FINANCIAL POSITION 19 STATEMENT OF PROFIT OR LOSS AND COMPREHENSIVE INCOME 20 STATEMENT OF CHANGES IN EQUITY 21 STATEMENT OF CASH FLOWS 22 NOTES TO THE FINANCIAL STATEMENTS 23 DIRECTORS’ DECLARATION 52 INDEPENDENT AUDITOR’S REPORT 53 SHAREHOLDER INFORMATION 58 General information The financial statements cover SportsHero Limited (also referred to as ‘Company’ or ‘SportsHero’) as a consolidated entity consisting of SportsHero Limited and its subsidiaries. The financial statements are presented in AUD1, which is SportsHero Limited’s functional and presentation currency. 1 Refer to Note 1 section Functional and presentation currency page 24 SportsHero Limited is a listed public company limited by shares, incorporated and domiciled in Australia. Its registered office and principal place of business is: 22 Glenview Road Mt Ku-ring-gai NSW 2050 Telephone: +61 (2) 9457 8276 A description of the nature of the consolidated entity'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 29 September 2025. The Directors have the power to amend and reissue the financial statements. 3 SPORTSHERO LIMITED ANNUAL REPORT 30 JUNE 2025 OPERATIONS REPORT The Company’s goal is to become one of the world’s most dynamic, engaging and largest sporting communities. The Company has achieved significant progress over the course of the year, positioning it strongly for continued growth and future opportunities. The following is a summary of the key achievements of SportsHero during the period 1 July 2024 to 30 June 2025: • • • • • • • • • • • First cash receipts from digital advertising partnership with PSSI Indonesia SportsHero and iGV.Com Family Game Room Product Launch Successful Completion of A$500,000 Private Placement Signed 5-year deal with Indosat Ooredoo Hutchison (Indosat) Appointment of Crispin Tristram as Chief Commercial Officer (CCO) Agreement with XL Axiata (XL), 3rd largest Telco in Indonesia, to market iGV Family Game Pass Indosat Skips Trial Phase and Moves to Full Commercial Launch of iGV Family Game Pass Expands Southeast Asia Partnership with iGV.Com to Include the Philippines Expands PSSI Relationship - Named e-Sports Digital Partner/Launch KitaGaruda Gaming Hub Go Live via XL for the iGV Family Game Pass Go Live via Indosat for the iGV Family Game Pass It is recommended that this report be read in conjunction with the 30 June 2025 Annual Report and any public announcements made by the Company during the year. In accordance with the continuous disclosure requirements, readers are referred to the announcements lodged with the Australian Securities Exchange regarding the activities of the Company. First cash receipts from digital advertising partnership with PSSI Indonesia In July 2024, the company announced that Whisper Media (a leading third-party digital advertising agency jointly appointed by PSSI and SHO) had successfully commenced selling all digital assets on the KitaGaruda app, generating the first advertising revenues for PSSI (Football Association of Indonesia). In the December quarter, the first cash receipts from this agreement in the order of A$33,000 were received into the company’s bank account, with further receipts expected as the partnership continues to commercialise the advertising agreements with sponsors. Whilst this amount was relatively low value, it showed some commercial traction and confidence from the PSSI relationship, which the company hopes can expand over the coming years. SportsHero and iGV.Com Family Game Room Product Launch On 12 September 2024, the Company announced the launch of the SportsHero and iGV.Com Family Game Room Product. iGV.com is a leading innovator in the esports gaming industry, This revolutionary cloud-based product is expected to transform the way PC gamers experience and access their favourite titles in the Indonesian market, including Call of Duty, Counter Strike 2, Elden Ring, PUBG, Grand Theft Auto 5 and Black Myth:Wukong. The launch in Indonesia is particularly significant, as the country boasts 185.2 million gamers, with 8.3 million dedicated PC based gamers. 1 Key Features of the iGV Family Game Room Pass: - Full access to all games available on current catalogue (over 200 games) - Cloud based, auto updates, family sharing across multiple users - Available in North America, Europe, and Indonesia - Compatible with desktop computers and PCs 1 NewZoo https://allcorrectgames.com/insights/the-gaming-market-in-indonesia/ 4 SPORTSHERO LIMITED ANNUAL REPORT 30 JUNE 2025 OPERATIONS REPORT Successful Completion of A$500,000 Private Placement On 8 October 2024, the Company completed an equity raise of A$500,000 through the issue of 50 million new fully paid ordinary shares in the Company at A$0.01 per share via a Share Placement. The funds were raised to accelerate the commercialisation of existing partnerships with iGV.Com and PSSI in Indonesia to expand the sales & marketing efforts and for ongoing admin & working capital requirements. Activ8 Capital Advisors acted as Lead Manager for the Placement and subsequently a corporate advisory mandate was signed. Activ8 is a boutique corporate advisory firm headquartered in Melbourne, with expertise in providing investment capital, professional services, equity research, investor relations, management consulting, and real-world venture expertise to private and publicly listed startups and micro-cap growth companies. Signed 5-year deal with Indosat Ooredoo Hutchison (Indosat) On 9 December 2024, SportsHero announced a strategic partnership with Indosat Ooredoo Hutchison (Indosat) the 2nd largest Telco in Indonesia 2 to market the IGV Family Game Room product in Indonesia. This collaboration will leverage Indosat’s digital platforms, myIM3 and bima+, which have reached 50.9 million monthly active users (MAU) in 2024 (based on Indosat’s 2024 annual report). 3 It was initially agreed that the partnership would kick off with a three-month proof of concept marketing campaign in January 2025. Subsequently Indosat agreed to waive the proof-of-concept phase and move directly to commercialisation. This campaign aims to develop targeted messaging for Indosat’s audience, enhancing customer engagement and adoption of the iGV Family Game Room product. SportsHero will provide all Indosat customers with an exclusive 14-day free trial of the iGV Family Game Room, followed by a special monthly subscription rate of IDR 65,000 (A$6.30), reduced from the usual rate of IDR 160,000 (A$15.60). This partnership represents a strategic move for both companies to leverage their strengths in digital innovation and customer engagement. For Indosat, it enhances its service portfolio by integrating a popular gaming platform into its digital ecosystem, thereby increasing user engagement and retention. For SportsHero, partnering with a major telco like Indosat provides access to a vast customer base and will facilitate rapid market penetration. Appointment of Crispin Tristram as Chief Commercial Officer (CCO) In February 2025, the Company announced the appointment of Mr Crispin Tristram to the full-time executive position of Chief Commercial Officer (CCO), after a 6-month consultancy period. Crispin brings extensive expertise in the eSports video games industry and was instrumental in re-shaping the Company’s eSports strategy during his advisory tenure. His deep industry knowledge, proven track record and regional market expertise position him as the ideal leader to drive our growth in this rapidly expanding sector. He has already shown his ability to secure partnerships with some of the largest potential partners in the region through the signing of the Indosat and XL Axiata agreements announced recently. Crispin will continue to provide strategic oversight to scale eSports operations, drive ongoing product innovation and develop new partnerships to accelerate commercial success across the entire South East Asian region. Agreement with XL Axiata (XL), 3rd largest Telco in Indonesia, to market iGV Family Game Pass In February 2025, the Company signed a significant DCB payment and marketing partnership with XL Axiata (XL), Indonesia’s third largest telecommunications company 4 to market the iGV Family Game Pass. This strategic alliance positions SportsHero to capitalise on the rapidly growing esports market in Southeast Asia with Indonesia boasting the largest gaming market. 2 Telkom.co.id, XL Axiata & Indosat Annual Reports 2024, https://telconews.asia/story/indosat-sees-robust-growth-in-all-sectors-during-2023 Indosat Annual Report 2024 (pp91): https://ioh.co.id/portal/en/ioh-investor-document-detail/laporan-tahunan-indosat2024?_id=10014744 4 https://www.xlaxiata.co.id/en/news/xl-axiata-successfully-achieved-solid-performance-in-2024 3 5 SPORTSHERO LIMITED ANNUAL REPORT 30 JUNE 2025 OPERATIONS REPORT XL will offer Direct Carrier Billing services, allowing its customers to seamlessly pay for the iGV Family Game Pass product using their existing XL billing accounts. This integration simplifies the payment process and enhances customer convenience. The partnership includes a revenue-sharing agreement, of a type usual in agreements of this nature ensuring benefits for all parties involved over the two-year duration of the agreement. Indosat Skips Trial Phase and Moves to Full Commercial Launch of iGV Family Game Pass In February 2025, the Company announced that further to the previous announcement on the Indosat partnership dated 9 December 2024, it had advanced to Full Commercial Launch of iGV Family Game Pass with Indosat, skipping Proof of Concept Stage. Initially planning a 3-month proof of concept period, Indosat’s confidence in the Family Game Pass offering had led them to proceed directly to a commercial launch early June quarter. Indosat agreed to expand the commercial partnership to offer Direct Carrier Billing (DCB) and comprehensive ongoing marketing support for the iGV Family Game Pass. Expands Southeast Asia Partnership with iGV.Com to Include the Philippines In March 2025, the Company announced the expansion of its partnership with iGV to include the Philippines as part of its Southeast Asia (SEA) market strategy, in addition to the Indonesia and Thailand market, as announced in November 2023. This development builds on the successful collaboration between SHO and iGV, and underscores the growing demand for iGV’s innovative gaming solutions in the region. The Philippines represents a significant opportunity for the iGV Family Game Pass, which was launched in September 2024. With a large and rapidly growing population of tech-savvy consumers and a robust gaming culture, the Philippines offers a substantial addressable market that aligns well with the product’s family-oriented entertainment value. Expands PSSI Relationship - Named e-Sports Digital Partner/Launch KitaGaruda Gaming Hub In April 2025, SportsHero announced the relationship with the Indonesian Football Association (PSSI) has been expanded, being appointed as their e-Sports gaming partner. The Company plans to launch the KitaGaruda Gaming Hub in the coming September quarter, which will provide Indonesia’s large football fan base access to exclusive e-Sports content, tournaments, gaming platforms, and rewards opportunities. It is estimated that 80% of the Indonesian population or 223m people, are football/soccer fans and 65% of those are following football via the internet.5 Go Live via XL Axiata for iGV.Com Family Game Pass in Indonesia In April 2025, the Company announced that the iGV.Com Family Game Pass product has been integrated with XL Axiata, and had officially “gone live”. This meant that XL’s customers now had the ability to subscribe to the Family Game Pass product using XL’s Direct Carrier Billing (DCB) infrastructure, which provides customers the opportunity to purchase certain products directly via their existing phone billing accounts. Go Live via Indosat for the iGV Family Game Pass On 27 June 2025, the Company announced that the iGV Family Game Pass product was successfully integrated and launched with Indosat. This means that both Indosat and XL customers had now gone live and users can subscribe to the iGV Family Game Pass product using the Direct Carrier Billing (DCB) infrastructure, which provides them with the opportunity to purchase certain products directly via their existing phone billing accounts. Key risks and uncertainties The Directors acknowledge that the Group operates in a dynamic and evolving digital technology and gaming environment. The Group’s future performance is subject to a range of risks and uncertainties which may have a material impact on the financial position and operating results. Key risks include: 5 https://tgmresearch.com/euro-2024-insights-in-indonesia.html (Est ~279m population x 80% = ~223m) 6 SPORTSHERO LIMITED ANNUAL REPORT 30 JUNE 2025 OPERATIONS REPORT Technology Risk The Group’s products and services rely on emerging digital platforms and third-party partnerships. Rapid technological change, platform integration challenges, cyber-security threats, and reliance on partners’ digital infrastructure could affect the continuity, scalability, and security of our offerings. Ongoing investment in product development and information security remains critical to managing this risk. Funding and Liquidity Risk As disclosed in the financial statements, the Group has reported operating losses and net current liabilities at balance date. The Company remains dependent on securing ongoing funding through capital raisings and strategic commercial agreements to support working capital and growth initiatives. While recent partnerships and placements have strengthened cash flow, there is a risk that future financing may not be available on terms favourable to the Group or within required timeframes. The Board and management are actively monitoring these risks and have implemented strategies to mitigate them, including diversifying revenue channels, securing long-term partnerships with leading regional Telcos, and maintaining engagement with capital providers. Notwithstanding these measures, there remains inherent uncertainty which may impact the Group’s ability to achieve its strategic objectives. 7 SPORTSHERO LIMITED ANNUAL REPORT 30 JUNE 2025 DIRECTORS REPORT The Directors present their report together with the consolidated financial report for SportsHero Limited (“SportsHero” or the “Company”) and its controlled entities (collectively the “Group”), for the year ended 30 June 2025. Directors (i) Names, qualifications and experience The names and details of the Group’s Directors in office at any time during the financial period and until the date of this report are as follows: Stratos Karousos Tom Lapping Adele Sim Non-Executive Chair Director and CEO Executive Director Stratos Karousos - Non-Executive Director and Chair Mr Karousos is the holder of a Bachelor of Law (University of Technology, Sydney) and Master of Commerce (University of New South Wales). Mr Karousos is an experienced director and senior executive with deep corporate and legal experience gained mostly in Australia, Asia, Europe and the United States. Stratos is currently the Chief Commercial Officer of productivity tool and workflow group espresso Displays and the Chief Strategy Officer of aquaculture and agriculture biotechnology group Genics. He has previously held positions as non-executive director of ASX listed technology companies, CEO and director of an ASX listed compnay and has held senior roles in global organisations including Wise Tech Global Limited (ASX: WTC) and Baker McKenzie. Tom Lapping – Director and CEO Mr Lapping is highly experienced across the securities and media sectors. Since 2016, he has played an integral role within SportsHero and was a key member of the team during the transition of the SportsHero business from a Singaporean unlisted entity to an ASX listed public company in February 2017. Tom is a successful entrepreneur who has accumulated extensive experience leading both established and earlystage ventures in the Asia-Pacific region. Tom has a keen understanding of consumer behaviour and was recognised as a 40under40 business entrepreneur award winner in Western Australia in 2003. Adele Sim – Executive Director and COO Qualification: GAICD and Executive MBA Adele Sim is an accomplished Chief Operating Officer with extensive experience in operations and business development, currently leading SportsHero. across multiple regions. With over 15 years of experience in various leadership roles, she has demonstrated expertise in strategic planning, project management, and team leadership. Adele is known for her ability to align business strategies with operational goals and fostering a culture of transparency and accountability within her teams. A graduate of the Australian Institute of Company Directors, she is also bilingual in English and Mandarin, enhancing her ability to navigate diverse business environments 8 SPORTSHERO LIMITED ANNUAL REPORT 30 JUNE 2025 DIRECTORS REPORT Interests in the Shares and Options of the Group (ii) As at the date of this report, the interest of the Directors in the shares, options and performance rights of the Group are: Stratos Karousos Tom Lapping Adele Sim TOTAL Number of shares 4,637,121 13,782,143 2,654,772 21,074,036 Number of options - Number of performance rights - Company Secretary Ross Pearson Qualification: BA Accounting FCPA Directors’ meetings The number of meetings attended by each of the Directors of the Group during the financial year was: Stratos Karousos Tom Lapping Adele Sim Directors’ Meetings (a) (b) 7 7 7 7 7 7 (a) Number of meetings held and entitled to attend (b) Number of meetings attended Given the size of the Group and current level of activities, the Board has assumed the duties and responsibilities typically delegated to an audit committee, risk committee, remuneration committee and nomination committee. Corporate structure SportsHero Limited is a company limited by shares that is incorporated and domiciled in Australia. For details of the Company’s controlled entities, please refer to note 26. Nature of operations and principal activities The principal activity of the Group during the year was the development of the Group’s sports gamification platforms. Results of operations The operating loss after income tax of the Group for the year ended 30 June 2025 was AU$1,995,919 (2024: AU$947,671). As set out in the Statement of Comprehensive Income, the two most significant expense categories for the financial year from continuing operations were: • • Administration expenses, totaling AU$718,923 and Employee and consulting expenses, totaling AU$818,179 The Group’s basic loss per share for the year from continuing operation was 0.29 AU cents (2024: 0.17 AU cents). 9 SPORTSHERO LIMITED ANNUAL REPORT 30 JUNE 2025 DIRECTORS REPORT Dividends No dividend has been paid during or is recommended for the financial year ended 30 June 2025 (2024: nil). Review of operations The principal activity of the Group during the financial year was the development of the Group’s sports gamification platforms. An overview of the Group’s operations during the financial year is set out in the Operations Report. Significant changes in state of affairs SportsHero Limited is an integrated digital gaming and e-Sports business, bringing together world class game publishers & distributors, regional South East Asian Telco leaders, gamers and e-Sports fans across South East Asia. Our goal is to become one of the world’s most dynamic, engaging and largest sporting communities. The SE Asian gaming market is significant in terms of participants, with the majority of gamers in SE Asia playing on their mobile devices (estimated 268m mobile gamers or 62.2% of total 432m gamers – see table below). It’s estimated that “SE Asia’s mobile player base is only second to the big Asian sub-regions (China, South Asia incl. India, and East Asia incl. Japan/Korea) and is comparable to, or larger than, Europe and/or North America in sheer player count.” 6 Table 1: SE Asian Gaming Market (Green Highlight Denotes SportsHero’s Existing Channel Agreements) Source: Follow link to SportsHero’s 2 July 2025 Investor Presentation for full table and source information Future developments Likely future developments in the operations of the Group are referred to in the Operations Report. Other than as referred to in this report, further information as to likely developments in the operations of the Group and expected results of those operations would, in the opinion of the Directors, be speculative and prejudicial to the interests of the Group and its shareholders. Matters subsequent to the end of the financial year US$1 million agreement with PLDT Inc, the Largest Fully Integrated Telco in the Philippines On 1 July 2025 the Company signed a 2 year agreement (renewable for a further year by mutual agreement) to distribute the iGV Family Game Pass product throughout the Philippines, including offering Direct Carrier Billing (DCB) and comprehensive ongoing marketing support. 6 GlobeNewswirebest-of-gaming.be 10 SPORTSHERO LIMITED ANNUAL REPORT 30 JUNE 2025 DIRECTORS REPORT The agreement includes a first year minimum contract payment to SportsHero relating to a “premium broadband customer” model, providing SportsHero with cashflow post integration (expected in the September quarter 2025). The signing of this agreement with PLDT shows there is market interest in the iGV Family Game Pass product across the region, reinforcing our belief in the strategic plan to roll out iGV and other products in partnership with major Telcos. PLDT will include a 12-month iGV Game Pass subscription for its premium home broadband customers. Those wishing to renew their subscription for a second year will be offered an exclusive extension option. In parallel, PLDT will directly market the iGV Game Pass to its non-premium home broadband customers and the wider gaming community, who will be able to subscribe at a mutually agreed price. PLDT will provide ongoing direct marketing and DCB support for the duration of this Agreement. With an estimated 43 million people classified as PC gamers 7, the overall esports video game market in the Philippines was estimated to be US$1.8 billion in 2025 and is projected to reach US$6.7 billion by 2031 growing at a CAGR of 24.1% during the forecast period. 8 The e-Sports market in the Philippines, which includes PC gaming, is projected to reach US$27.7m in 2025. 9 $1.65m in Firm Commitments Received for Private Placement On 30 July 2025, the Company announced that it had received firm commitments to raise $1.65m through the issuance of 71.8 million new fully paid ordinary shares in the Company (‘Shares) at $0.023 per Share, together with a 1:2 free attaching options to acquire Shares (‘Options’) (‘Placement Options’), via a Share placement (‘Placement’) to sophisticated and professional investors. The Shares were issued at a A$0.023/share price, which was an 18% discount to the last close price of $0.028 and 15% discount to the 15 day VWAP. If exercised, the Options would raise an additional A$1.08m for the Company on or before 31 July 2026. The Company intends to utilise the funds to partially pay down the existing debt facility, expand the sales & marketing activities to broaden the product offering and distribution channels and to fund the Company’s working capital requirements. Activ8 Capital Advisors (Activ8) acted as lead manager for the raise and was paid a cash fee of 6% commission on the capital raised. As part of an ongoing advisory agreement, Activ8 was issued 7.5m options with a A$0.02 exercise price and 3.5m options with a A$0.04 exercise price, both with a 31 October 2027 expiry. The Wallabi Group assisted with the raise and were issued ~12.667m Options with a A$0.03 exercise price and 31 October 2028 expiry. Mobile gaming product added with web games distribution agreement signed with Yes2Games On 15th August 2025, the Company entered into an exclusive content distribution agreement with Singaporebased gaming company Yes2Games, which has the global exclusive license to the web versions of Halfbrick Studios’ game library. Under the agreement, SportsHero has secured exclusive rights to distribute Yes2Games’ portfolio of popular mobile game titles via SportsHero’s telecommunications partner channels across four territories: Indonesia, the Philippines, Thailand and Malaysia. The addition of the Yes2Games and Halfbrick “mobile gaming” product enables the company to target a significantly larger consumer base, in both existing and future potential distribution channels. The portfolio includes several global hit titles from Halfbrick Studios, including Fruit Ninja, Jetpack Joyride, Dan The Man and Monster Dash, plus a recently launched original IP from Yes2Games “NSR Street Car Racing”, which garnered 1M users in its first week of launching on the web. 7 https://vibox.co.uk/blog/how-many-pc-gamers-are-there-in-the-world ; https://ycp.com/insights/whitepaper/the-next-level-therise-of-esports-in-the-philippines 8 https://mobilityforesights.com/product/philippines-esports-market 9 https://www.statista.com/outlook/amo/esports/philippines 11 SPORTSHERO LIMITED ANNUAL REPORT 30 JUNE 2025 DIRECTORS REPORT Fruit Ninja, first released in 2010 was Halfbrick’s breakout global phenomenon, reaching 1 billion + downloads and appearing on 1/3 of all iPhones in the US by 2012. 10 Fruit Ninja 2 has over 14+ million downloads on Google Play and 62,000+ reviews averaging 4.2 stars as of 2025. 11 Since its debut, Jetpack Joyride has achieved over 750 million downloads worldwide 12, placing it among the mostplayed mobile titles of all time, while Dan the Man has surpassed 110 million downloads on both Google Play and the Apple App Store, establishing itself as a staple in the arcade platformer genre. 13 Financial position The Group’s working capital, being current assets, less current liabilities, was negative AU$1,369,803 as at 30 June 2025 (2024: negative AU$851,783). In the Directors’ opinion there are reasonable grounds to believe that the Group will be able to pay its debts as and when they become due and payable. Proceedings on behalf of the Group No person has applied for leave of court to bring proceedings on behalf of the Group or intervene in any proceedings to which the Group is a party for the purpose of taking responsibility on behalf of the Group for all or any part of those proceedings. Additional information The earnings of the consolidated entity for the five years to 30 June 2025 are summarised below: Income EBITDA EBIT Loss after income tax 2025 AU$ 2024 AU$ 45,894 (1,940,436) (1,942,317) (1,942,317) 608,408 (992,049) (993,850) (993,850) 2023 AU$ 2022 AU$ 2021 AU$ 24,840 57,912 54,328 (3,223,289) (2,359,213) (1,932,203) (3,240,400) (2,362,325) (1,959,046) (3,241,943) (2,362,325) (1,980,856) The factors that are considered to affect total shareholders return are summarised below: Share price at financial year end (AU cents) Total dividends declared (AU cents per share) Basic loss per share (AU cents per share) 2025 AU 2.5 - 2024 AU 3.0 - 2023 AU 2.6 - 2022 AU 2.4 - 2021 AU 2.1 - (0.29) (0.17) (0.57) (0.46) (0.49) 10 https://en.wikipedia.org/wiki/Halfbrick_Studios?utm_source=chatgpt.com https://www.androidrank.org/application/fruit_ninja_2_fun_action_games/com.halfbrick.fruitninjax?utm_source=chatgpt.com 12 https://www.prnewswire.com/news-releases/with-over-1-8-billion-downloads-storms-and-halfbrick-studios-bring-instantly-playable-fruitninja-and-jetpack-joyride-games-to-the-emerging-markets-301243426.html?utm_source=chatgpt.com 13 https://www.androidrank.org/application/dan_the_man_action_platformer/com.halfbrick.dantheman 11 12 SPORTSHERO LIMITED ANNUAL REPORT 30 JUNE 2025 DIRECTORS REPORT Remuneration report (Audited) Details of Remuneration for the Year Ended 30 June 2025 Details of the remuneration for each Director and the key management personnel of the Group during the year are set out in the following tables. The Board’s policy for determining the nature and amount of remuneration for Directors and senior executives of the Group is as follows: • • • • All executives receive a base salary (which is based on factors such as length of service and experience). The Board reviews executive packages annually by reference to the Group’s performance, executive performance and comparable information from industry sectors. All remuneration paid to Directors and executives is valued at the cost to the Group and expensed. Options are valued using the Black-Scholes methodology. Remuneration of non-executive Directors at market rates for time, commitment and responsibilities. The Board determines payments to the non-executive Directors and reviews their remune