Announcement PDF SPORTSHERO LIMITED ACN 123 423 987 INTERIM FINANCIAL REPORT FOR THE HALF YEAR ENDED 31 DECEMBER 2025 P ag e | 1 CONTENTS PAGE CORPORATE DIRECTORY 2 DIRECTORS’ REPORT 3 AUDITOR’S INDEPENDENCE DECLARATION 7 STATEMENT OF FINANCIAL POSITION 8 STATEMENT OF COMPREHENSIVE INCOME 9 STATEMENT OF CHANGES IN EQUITY 10 STATEMENT OF CASH FLOWS 11 NOTES TO THE FINANCIAL STATEMENTS 12 DIRECTORS’ DECLARATION 22 INDEPENDENT AUDITOR’S REPORT 23 P ag e | 2 SPORTSHERO LIMITED ACN 123 423 987 CORPORATE DIRECTORY DIRECTORS Stratos Karousos (Non-Executive Chairman) Tom Lapping (Executive Director) Adele Sim (Executive Director) CHIEF EXECUTIVE OFFICER Tom Lapping COMPANY SECRETARY Ross Pearson REGISTERED OFFICE AND PRINCIPAL PLACE OF BUSINESS 22 Glenview Road Mt Ku-ring-gai NSW 2080 Telephone: +61 2 9457 8276 Website: http://Sportshero.live/ AUDITORS Hall Chadwick (NSW) Level 40, 2 Park Street Sydney NSW 2000 SHARE REGISTRY Automic Registry Services Level 5, 126 Phillip Street Sydney NSW 2000 Telephone: 1300 288 664 STOCK EXCHANGE LISTING Australian Securities Exchange Ltd ASX Code: SHO SPORTSHERO LIMITED DIRECTORS' REPORT P ag e | 3 The Directors present their report together with the financial statements of SportsHero Limited (“SportsHero” or “the Company” or “the Group”) for the half year ended 31 December 2025. DIRECTORS The following Directors held office from the beginning of the half year until the date of this report: • Tom Lapping (Executive Director) • Stratos Karousos (Non-Executive Chairman) • Adele Sim (Executive Director) PRINCIPAL ACTIVITIES The principal continuing activity of the Group during the half year was the development of the Group’s sports gamification platforms. RESULTS The net loss of the Group for the half year ended 31 December 2025 was $1,238,353 (2024: $745,320). Included within the loss of the Group for the half year was non-cash share-based payments totaling $406,272 (2024: $36,882). No dividends were paid or declared by the Company during the half year. REVIEW OF OPERATIONS The following is a summary of the activities of SportsHero during the period 1 July 2025 to 31 December 2025. It is recommended that this half yearly report be read in conjunction with the 30 June 2025 Annual Report and any public announcements made by the Company during the half 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. Mobile Gaming Product Added with Web Games Distribution Agreement Signed with Yes2Games In August 2025, the Company entered into an exclusive content distribution agreement with Singapore-based gaming company Yes2Games, which has the global exclusive license to the web versions of Halfbrick Studios’ game library. $1.65m Received for Private Placement In August 2025, the Company received $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. SportsHero Grows Mobile Gaming Catalogue with V-Hunt Adding ~600 Casual Mobile Gaming Titles The Company signed an agreement in October 2025 with V Hunt Digital Media Pvt Ltd (V-Hunt) for the rights to distribute a customised catalogue of instantly playable HTML5 hyper casual mobile games throughout Southeast Asia, adding approximately 600 games to the HeroPlay offering. This added to the mobile games catalogue from Yes2Games (announced in the previous quarter) and took the total number of games to +620 available on SportsHero’s mobile casual gaming platform. Go Live for iGV.Com Game Pass via PLDT Home, the Largest Fully Integrated Telco in the Philippines The iGV Game Pass product was launched in the Philippines via PLDT Home in October 2025. PLDT plans to include a 12-month iGV Game Pass subscription as part of its premium home broadband package. Those wishing to renew their subscription for a second year will be offered an exclusive extension option. In parallel, PLDT would directly market the iGV Game Pass to its non-premium home broadband customers, who will be able to subscribe at a mutually agreed price. The agreement includes PLDT offering Direct Carrier Billing (DCB) and comprehensive ongoing marketing support. SportsHero Appoints Grace Clapham as Growth Strategy Advisor The Company expanded their executive team with the appointment of Grace Clapham as its new Growth Strategy Advisor in November 2025, positioning the company to further accelerate growth and strategic market SPORTSHERO LIMITED DIRECTORS' REPORT P ag e | 4 expansion. Throughout her distinguished career, Grace has partnered with leading global brands including Meta, LinkedIn, BMW, Nestlé, Aesop, Maybank, Dentsu, Bank of America, Canva, and Hootsuite, among others. She has scaled operations and led go-to-market strategies across 35+ markets, navigating diverse regulations and cultures to drive growth, and generated revenue through strategic brand and community partnerships. HeroPlay Goes Live in Indonesia, with 600 Proven HTML5 Titles HeroPlay went live on 19 November 2025 via Indosat, a significant milestone for SportsHero, offering subscriptions to a catalogue of 600 HTML5 mobile games supplied by leading game distributors Yes2Games and V-Hunt. HeroPlay is a proprietary mobile casual gaming platform which has been developed in-house by SportsHero, combining a content management system (CMS), customer relationship management (CRM) and integrated access via Telco partners Direct Carrier Billing APIs to a large library of HTML5 based mobile game titles from leading mobile game distribution partners. Early HeroPlay Subscriber Growth Confirms Initial Product Validation and Revenue is Materialising Subscriber sign-ups as at 17 December 2025 for the HeroPlay mobile casual gaming platform in Indonesia confirmed strong consumer appetite for the product, with initial results averaging 280-300 new subscribers per day. Record Cash Receipt following Philippines Launch Late in December 2025, the Company received a significant cash payment of ~A$530,000 (US$350,000) following the successful integration and launch of the iGV.Com Game Pass product in the Philippines. The Company expects to receive regular monthly payments starting this month, throughout the remainder of the initial 12- month minimum contract agreement, which runs through to September 2026. Beyond that time, there is potential for ongoing revenue from the original agreement, together with potential increased revenue from any expansion or new customer acquisition. SIGNIFICANT CHANGES There have been no changes in the state of affairs of the Group that occurred during the half year under review not otherwise disclosed in this report. SUBSEQUENT EVENTS Indosat/SportsHero Joint Press Release 14 January 2026 On 14 January 2026 Indosat and SportsHero shared a joint Press Release about HeroPlay, with Bilal Kazmi, Director & Chief Commercial Officer of Indosat Ooredoo Hutchison, stating that the collaboration with SportsHero aligns with Indosat’s commitment to delivering digital services that are simple, easy to use, and relevant for younger generations. “Through HeroPlay, we are expanding our digital entertainment ecosystem to reach more customers, supported by Indosat’s AI-powered 5G network, AIvolusi5G, to deliver a smoother and more optimal gaming experience,” he said. HeroPlay Subscriber Sign-Up Numbers Growing The Company announced on 19 January that HeroPlay subscriber sign-up numbers have increased materially for the month, with an average of approx. 880 sign-ups per day over the last 7 days, compared to an average of approx. 280-300 previously reported in mid-December 2025. The highest single daily subscriber sign-ups have been 1,710 subscribers, achieved in the last 7 days. A further update was provided on 5 February 2026 in the Investor Presentation confirming the 7-day subscriber average had increased to 1,020 per day. $4.3m in Firm Commitments Received for Private Placement The Company received firm commitments to raise $4.3 million through the issuance of approximately 57.3 million new fully paid ordinary shares in the Company (‘Shares’) at $0.075 per Share (‘Offer Price’), via a Share placement (‘Placement’) to institutional, sophisticated and professional investors, announced on 16 February 2026. In a strong endorsement of the Company’s strategy and early traction rolling out the HeroPlay product across SE Asia, SportsHero’s CEO Tom Lapping, has committed to invest $300,000 in the placement, subject to shareholder approval. SPORTSHERO LIMITED DIRECTORS' REPORT P ag e | 5 Concurrent to the capital raising and based on the strong demand from institutional investors to acquire shares in the Company, the Joint Lead Managers have arranged a sell down of approximately 25.0 million existing fully paid ordinary shares in the Company at the Offer Price (equivalent to approximately A$1.875 million) by three long term private shareholders that are not founders, directors, or internal stakeholders of the Company. The funds raised under the Placement will be used for the following: ➢ expand gaming publisher/distributor commercial agreements to enhance our product offering across existing segments; ➢ drive sales efforts to secure additional Telco partnerships in both existing and new countries within the SE Asian region; ➢ increase direct B2C marketing spend for our non-Telco funded advertising channels; ➢ repayment of the existing drawn down debt facility; and ➢ costs of the raise and working capital. Business Trading Update – 26th February 2026 Following the launch of Indosat’s marketing support in mid-February as planned, subscriber sign-ups for HeroPlay have increased to an average of 2,049 per day over the last 7 days, with the highest daily total being 2,453. Management has observed a clear positive correlation between Indosat’s marketing initiatives and the uplift in paid subscriber growth, providing early validation of the partnership strategy. Importantly, this traction has been achieved very early in the marketing rollout, with the majority of the program yet to be deployed in full. For more information on the Company or to ask questions follow this link https://asx.sportshero.live/link/rAO11y No matter or circumstance has arisen since 31 December 2025 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. SPORTSHERO LIMITED DIRECTORS' REPORT P ag e | 6 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 on page 7. Signed in accordance with a resolution of the Board of Directors, pursuant to section 306(3)(a) of the Corporations Act 2001: Stratos Karousos Director Date: 26 February 2026 P a g e | 7 SPORTSHERO LIMITED P ag e | 8 CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2025 Note 31 December 30 June 2025 AU$ 2025 AU$ Current assets Cash and cash equivalents 499,860 118,144 Prepayments 20,442 2,248 Trade and other receivables 5,349 4,645 Total current assets 525,651 125,037 Non-current assets Plant and equipment 1,568 2,107 Total non-current assets 1,568 2,107 Total assets 527,219 127,144 Current liabilities Trade and other payables 3 412,418 530,343 Borrowings 4 388,182 920,000 Contract liabilities 5 232,981 - Employee benefits 77,253 44,497 Total Current liabilities 1,110,834 1,494,840 Non-current liabilities Total Current liabilities - - Total Liabilities 1,110,834 1,494,840 Net Assets (583,615) (1,367,696) Equity Issued capital 7 24,611,416 23,078,839 Share based payments reserve 8 1,097,849 623,555 Foreign currency translation reserve 2,860,039 2,913,092 Accumulated losses (29,152,919) (27,983,182) Total Equity (583,615) (1,367,696) The above consolidated statement of financial position should be read in conjunction with the accompanying notes. SPORTSHERO LIMITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE HALF YEAR ENDED 31 DECEMBER 2025 P ag e | 9 Note 31 December 31 December 2025 AU$ 2024 AU$ re-presented 1 Income Sales revenue 6 316,925 45,500 Other income 8 5,011 Expenses Administration expenses (17,858) (11,686) Employee and consulting expenses (427,359) (403,527) Compliance and professional expenses (324,850) (155,356) Marketing and investor relations expenses (84,714) (26,224) Software development (172,224) (15,325) Travel (25,797) (24,488) Share based payments 9 (406,272) (36,882) Platform revenue -share cost (89,995) - Finance cost - (43,602) Fair value loss on FVTPL - (77,566) Interest expense (4,692) - Write off bad debt (912) - Depreciation and Amortisation expense (613) (1,175) Loss before income tax expense (1,238,353) (745,320) Income tax expense - - Loss after income tax expense for the half- year (1,238,353) (745,320) Other comprehensive income Items that may be reclassified subsequently to profit and loss Foreign currency translation (53,053) 44,497 Total comprehensive loss for the half-year (1,291,406) (700,823) Basic loss per share (cents per share) (0.16) (0.12) Diluted loss per share (cents per share) (0.16) (0.12) The above consolidated statement of comprehensive income should be read in accordance with the accompanying notes. SPORTSHERO LIMITED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE HALF YEAR ENDED 31 DECEMBER 2025 P ag e | 10 10 Contributed Equity Accumulated Losses Share Based Payments Reserve Foreign Currency Translation Reserve Total Equity/ (deficit) Notes AU$ AU$ AU$ AU$ AU$ As at 1 July 2025 23,078,839 (27,983,182) 623,555 2,913,092 (1,367,696) Total comprehensive loss for the period - (1,238,353) - (53,053) (1,291,406) Performance rights issued during the period 216,000 - (216,000) - - Share based payments - - 406,272 - 406,272 Shares based payments for settlement of director fees 40,000 - - - 40,000 Expired options - 68,616 (68,616) - Options exercised 115,990 - (28,271) - 87,719 Shares issued during the period 1,650,202 1,650,202 Share issue cost (489,615) - 380,909 - (108,706) As at 31 December 2025 24,611,416 (29,152,919) 1,097,849 2,860,039 (583,615) As at 1 July 2024 re-presented 1 22,013,791 (26,022,448) 301,030 2,859,490 (848,137) Total comprehensive loss or the period - (671,557) - 44,497 (627,060) Performance rights issued during the period 35,000 - (35,000) - - Share based payments - - 36,882 - 36,882 Shares based payments for settlement of director fees 49,267 - - - 49,267 Expired options - 35,185 (35,185) - Options exercised - - - - - Shares issued during the period 1,039,000 - - - 1,039,000 Share issue cost (58,220) - 29,580 - (28,640) As at 31 December 2024 23,078,838 (26,658,820) 297,307 2,903,987 (378,688) The above consolidated statement of changes in equity should be read in accordance with the accompanying notes. SPORTSHERO LIMITED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE HALF YEAR ENDED 31 DECEMBER 2025 P ag e | 11 31 December 31 December 2025 2024 Notes AU$ AU$ re-presented 1 Cash flows from operating activities Receipts from customers 549,203 45,964 Payments to suppliers (760,036) (367,190) Payment to employees (427,359) (425,366) Interest received 8 - Net cash flows used in operating activities (638,184) (746,592) Cash flows from investing activities Payments for plant and equipment (110) (227) Net cash provided from financing activities (110) (227) Cash flows from financing activities Issued of new share capital 1,739,186 500,000 Share issue cost (108,705) (28,640) Proceeds from borrowing - 377,000 Finance cost (53,182) (20,000) Repayment of borrowing (531,818) (100,000) Net cash provided from financing activities 1,045,481 728,360 Net increase (decrease) in cash and cash equivalents 407,187 (18,459) Effects of exchange rate on cash and cash equivalents (25,471) 62,107 Cash and cash equivalents at the beginning of the half-year 118,144 40,340 Cash and cash equivalents at the end of the half-year 499,860 83,988 The above consolidated statement of cash flows should be read in conjunction with the accompanying notes. SPORTSHERO LIMITED CONDENSED NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2025 P ag e | 12 1. BASIS OF PREPARATION OF HALF YEAR FINANCIAL STATEMENTS Basis of preparation These general purpose interim financial statements for the half year reporting period ended 31 December 2025 have been prepared in accordance with requirements of the Corporations Act 2001 and Australian Accounting Standard AASB 134: Interim Financial Reporting. This interim financial report is intended to provide users with an update on the latest annual financial statements of SportsHero Limited and its controlled entities (Group). As such, it does not contain information that represents relatively insignificant changes occurring during the half year within the Group. It is therefore recommended that this financial report be read in conjunction with the annual financial statements of the Group for the year ended 30 June 2025, together with any public announcements made during the following half year. The same accounting policies and methods of computation have been followed in this interim financial report as were applied in the most recent annual financial statements. New or Amended Accounting Standards and Interpretations adopted The Group has adopted all of the new and revised Accounting Standards and Interpretations issued by the Australian Accounting Standards Board (‘AASB’) that are mandatory for the current reporting period. Any new or amended Accounting Standards or Interpretations that are not yet mandatory have not been early adopted. Functional and presentation currency Change in Presentation Currency The Company has changed its presentation currency from United States dollars (USD) to Australian dollars (AUD) with effect from 1 July 2024. The change has been made to better reflect the economic environment of the Group’s operations and to enhance comparability with industry peers. In accordance with AASB 121 The Effects of Changes in Foreign Exchange Rates, the consolidated financial statements for the year ended 30 June 2025, including the comparative year ended 30 June 2024, have been presented in AUD. The translation process applied was as follows: • Assets and liabilities were translated at the closing exchange rate at each reporting date. • Income and expenses were translated at average exchange rates for the reporting period. • Share capital was translated at historical rates on the date of issue. • Retained earnings were translated at the translated opening balance plus profit or loss for the year (translated at average rates). • Exchange differences arising on translation have been recognised in the Foreign Currency Translation Reserve within equity. The translation of the opening financial position at 1 July 2023 was undertaken to establish comparative balances. Periods prior to 1 July 2023 have not been restated. SPORTSHERO LIMITED CONDENSED NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2025 P ag e | 13 Key Exchange Rates Applied Date /Period USD/AUD 1 July 2023 (opening) 1.5082 Average financial year 2024 1.5250 Closing 30 June 2024 1.5097 Average financial year 2025 1.5427 Closing 30 June 2025 1.5267 Average for 6 months ending 31 December 2024 1.5108 Closing 31 December 2024 1.6085 The preliminary financial report is presented in AUD dollars, which is the Group’s functional currency. Certain subsidiaries have functional currencies other than AUD. On consolidation, the financial position of these subsidiaries is translated into the presentation currency as follows: • Assets and liabilities are translated at the exchange rate prevailing at the reporting date. • Income and expenses are translated at exchange rates at the dates of the transactions, or at average exchange rates for the period where this approximates actual rates. • Equity items are translated at historical exchange rates. Exchange differences arising on translation are recognised in other comprehensive income and accumulated in the foreign currency translation reserve within equity. These differences are reclassified to profit or loss upon disposal of the relevant foreign operation. Key Exchange Rates Applied Date /Period AUD/SGD AUD/IDR Average for 6 months ending 31 December 2025 0.8454 10,824.29 Closing 31 December 2025 0.8608 11,174.00 Going Concern The 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 Group incurred a loss of AU$1,238,353 and had net cash outflows from operating activities of AU$638,184 for the period ended 31 December 2025. These factors may indicate a material uncertainty which may cast doubt as to whether the Group will continue as a going concern and therefore whether it will realise its assets and meet its liabilities in the normal course of business and at the amounts stated in the financial report. The Directors believe that the Group’s prospects have significantly improved and that there are reasonable grounds to believe that the Group will be able to continue as a going concern, after consideration of the following factors: SPORTSHERO LIMITED CONDENSED NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2025 P ag e | 14 • $4.3m in Firm Commitments Received for Private Placement On 16 February 2026, the Company received firm commitments to raise $4.3 million through the issuance of approximately 57.3 million new fully paid ordinary shares in the Company (‘Shares’) at $0.075 per Share (‘Offer Price’), via a Share placement (‘Placement’) to institutional, sophisticated and professional investors. • Revenue to be derived from milestone agreement On 1 July 2025 the Company announced it has secured a two-year agreement with PLDT Inc. providing a contracted payment of US$1.0 million (A$1.55 million) in the first twelve months (of which 35% US$350,000 was received in December 2025), together with a 65% share of all future revenues generated under the arrangement. This contracted cash inflow and ongoing revenue sharing provide support for the Company’s cash flow forecasts. • $1.65m capital raising 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, which represents a 18% discount to the last close price of $0.028 and 15% discount to the 15 day VWAP. • Potential to raise a further A$1.08m - contingent on the exercise of options The firm commitments mentioned above came with 1:2 free attaching options to acquire Shares (‘Options’) (‘Placement Options’), via a Share placement (‘Placement’) to sophisticated and professional investors. If exercised, the Options would raise an additional A$1.08m for the Company on or before 31 July 2026. • Recent capital raise indicate continued support from shareholders The Directors expect to retain the support from shareholders and other financiers that have supported the Company’s previous capital raising to assist with meeting future funding needs. SportsHero's team has prepared cash flow projections that support the Group's ability to continue as a going concern. The Directors consider that these projections are achievable, and in the short to medium term significant revenue will be generated from the commercialisation of its business model. The Company has, and will continue, to engage with its stakeholder to ensure it retains its capital flexibility to execute on its strategy. Accordingly, the Directors believe that the Company will be able to continue as a going concern and that it is appropriate to adopt the going concern basis in the preparation of the financial report. Should the above measures and events not generate the expected cash flows, the Company and the Group may not be able to pay its debts as and when they become due and payable and it may be required to realise assets and extinguish liabilities other than in the ordinary course of business and at amounts different from those stated in the consolidated financial statements. These consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company and the Group not continue as going concerns. 2. DIVIDENDS No dividends were paid or declared by the Company during the half year SPORTSHERO LIMITED CONDENSED NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2025 P ag e | 15 3. TRADE AND OTHER PAYAABLES 31 December 30 June 2025 2025 Current Payables AU$ AU$ Trade payables 239,976 249,317 Accrued expenses 172,442 281,026 412,418 530,343 i. Due to the short-term nature of these payables, their carrying value is assumed to approximate their fair value. ii. Trade payables are non-interest bearing. 4. BORROWINGS 31 December 30 June 2025 2025 AU$ AU$ Loans from Shareholders - 100,000 Drawdown Facility 388,182 820,000 Total current borrowings 388,182 920,000 Total Facilities Drawdown Facility 1,500,000 1,500,000 1,500,000 1,500,000 Used at the reporting date Drawdown Facility 388,182 820,000 388,182 820,000 Unused at the reporting date Drawdown Facility 1,111,818 680,000 1,111,818 680,000 Drawdown Facility During the 6 months ending 31 December 2025 following Drawn down Facility were in place from a major shareholder. • AU$500,000 unsecured drawdown facility attracting a 10% interest charge based on total drawdown amounts payable with 12 months of borrowing or with 14 days of the Group successfully completing an equity capital raising, whichever event occurs earlier. In addition, the lender may opt to convert the total amount drawdown and relevant interest charged into shares on the same terms as the equity capital raise. Under the facility the drawdown facility must not exceed AU$100,000 per month • AU$1,000,000 unsecured drawdown facility attracting a 10% interest charge based on total drawdown amounts payable with 12 months of borrowing or with 14 days of the Group successfully completing an equity capital raising, whichever event occurs earlier. In addition, the lender may opt to convert the total amount drawdown and relevant interest charged into shares on the same terms as the equity capital raise. Under the facility the drawdown facility must not exceed AU$200,000 per month SPORTSHERO LIMITED CONDENSED NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2025 P ag e | 16 5. CONTRACT LIABILITY 31 December 30 June 2025 2025 AU$ AU$ Opening contract liability - - Cash received in advance 532,964 - Revenue recognized during period (299,983) - Closing contract liability 232,981 - Performance obligations The Group provides access to its gaming platform over a fixed contractual period and recognises revenue over time as customers simultaneously receive and consume the benefits of access. Significant judgements The Group assessed whether it controls the specified service before transfer to customers and concluded it acts as principal for fixed platform access arrangements and as agent for transaction- based revenue share arrangements. 6. SALES REVENUE 31 December 31 December 2025 2024 AU$ AU$ Service access revenue 299,983 - Other revenue 16,942 45,500 316,925 45,500 7. CONTRIBUTED EQUITY Issued Capital: Ordinary shares fully paid AU$ 817,115,950 (30 June 2025: 731,446,066) 24,611,416 Issue Price Number Movement in share capital: AU$ of Shares AU$ Opening balance 1 July 2025 - 731,446,066 23,078,839 Shares issued 5 August 2025 (a) 0.023 71,747,921 1,650,202 Options exercised share issue (b) 0.0396 1,086,956 43,119 Shares issued 1 October 2025 (c) 0.0396 1,086,956 43,119 Shares issued 27 October 2025 (d) 0.0396 750,000 29,752 Shares issued 31 October 2025 (e) 0.027 8,000,000 216,000 Shares issued 5 December 2025 (f) 0.0133 2,998,051 40,000 Share issue costs - (489,615) Balance 31 December 2025 817,115,950 24,611,416 SPORTSHERO LIMITED CONDENSED NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2025 P ag e | 17 (a) On 5 August 2025 the Company issued 71,446,066 shares at an issue price of A$0.023 per share to rais $1,650,000 working capital. (b) On 23 September 2025, the Company issued 1,086,956 ordinary shares on exercise of placement options. Options were valued using Black and Scholes valuation at A$0.0096 per option with an exercise price of A$0.03 per option (c) On 1 October 2025, the Company issued 1,086,956 ordinary shares on exercise of placement options. Options were valued using Black and Scholes valuation at A$0.0096 per option with an exercise price of A$0.03 per option. (d) On 27 October 2025, the Company issued 1,086,956 ordinary shares on exercise of placement options. Options were valued using Black and Scholes valuation at A$0.0096 per option with an exercise price of A$0.03 per option (e) The Company issued 8,000,000 ordinary shares on conversion of performance rights to Crispin Tristan of AU$0.027, to the value of A$216,000. (f) The Company issued 40,000 ordinary shares to Mr Stratos Karousos at an issue price of AU$0.013342 per share in lieu of the payment of AU$40,000 in fees, which was accrued as a liability as at 30 June 2025 8. SHARE BASED PAYMENT RESERVE 31 December 30 June 2025 2025 AU$ AU$ Opening balance 623,555 301,030 Share based payments 406,272 357,710 Options exercised (