Appen Ltd. · ASX:APX
Appen — Shareholder Meeting (May 2026)
27 slides from Appen's shareholder meeting presentation, May 22, 2026
Slide 1: 2026 Annual General Meeting – CEO address and presentation
ASX Release 22 May 2026 2026 Annual General Meeting – CEO address and presentation Appen Limited (ASX: APX) provides the attached CEO address and presentation to be delivered at today’s Annual General Meeting commencing at 10.00am AEST. Authorised for release by the CEO and Managing Director of Appe
Slide 2: CEO's Address and Presentation
CEO’s Address and Presentation 2026 Annual General Meeting 22 May 2026 Good morning everyone, and thank you for joining us today. I will cover three areas this morning. First, the AI market and Appen's role in it. Second, our FY25 results. Third, our growth strategy and guidance for FY26. Appen's Ro
Slide 3: Appen Creates High Quality Data That Is Used to Build the World's Best AI
Synthetic data, generated by other AI models, carries a different set of risks. Models trained on it can struggle to solve novel or real-world situations, and in some cases it leads to model collapse, where model quality degrades over successive generations. That leaves real-world, human-generated d
Slide 4: AI Megatrends Driving Demand for Appen's Services
AI Megatrends Driving Demand for Appen's Services Three structural trends are driving sustained demand in the AI data market. First is consumer AI globalisation. The global digital advertising market is approximately $740 billion. As AI-powered products are deployed across different countries and cu
Slide 5: Appen Is Well Positioned to Capture Growth at a Global Scale
The fact that we are not only winning initial projects in these areas but expanding them is a strong signal. It tells us that our customers value what we deliver, and that we are well positioned to grow with these markets as they scale. Appen Is Well PosiLoned to Capture Growth at a Global Scale App
Slide 6: FY25 Group Financial Performance
The full-year margin was 5.3%, with a strong end to the year with Q4 coming in at 18.2% EBITDA margin. We also continue to capture operational efficiencies through technology innovation and automation. Now looking at our two segments: On Appen Global—the full year revenue was $127.9m, which was down
Slide 7: Appen China: $102.9M Revenue for FY25, 75% Year on Year Growth
Appen China: $102.9M Revenue for FY25, 75% Year on Year Growth Appen China grew 75% in FY25, delivering $102.9 million in revenue. Growth was driven by new and expanding LLM-related projects, including work supporting the international expansion of Chinese technology customers. The profitability imp
Slide 8: FY26 Outlook and Guidance
In workforce operations, we use AI-assisted interviewing to validate contributor performance and provide real-time feedback, improving onboarding speed and contributor quality. Across the organisation, company-wide AI usage and increasingly agentic operations are reducing operating costs and acceler
Slide 9: CEO Address
2 CEO Address Ryan Kolln © 2024 proprietary & confidential
Slide 10: Appen's role in the AI ecosystem
Appen’s role in the AI ecosystem 7
Slide 11: Model performance driven by bespoke, human-generated data
Model performance driven by bespoke, human-generated data AI building blocks Compute Data Algorithms and Research Public data Real-world data Synthetic data Largely exhausted, already captured in Unique data that enables new AI Reliant on other models to produce existing models approaches Does not s
Slide 12: Appen creates high quality data that is used to build the world's best AI
Appen creates high quality data that is used to build the world's best AI © 2024 proprietary & confidential
Slide 13: Appen has evolved to support complex data requirements
Appen has evolved to support complex data requirements LLM Training Data Multimodal Data Speech & Audio Supervised Fine Tuning (SFT), RLHF & Text-to-image annotation, aesthetic scoring, Text-to-speech collection, Automated Speech preference annotation, Chain of Thought (CoT) video labeling, embodied
Slide 14: AI megatrends driving demand for Appen's services
AI megatrends driving demand for Appen’s services Consumer AI Enterprise AI New form factors globalisation adoption and applications KEY ECONOMIC DRIVER KEY ECONOMIC DRIVER KEY ECONOMIC DRIVER ~$740B global digital $2.6T-$4.4T annual potential Humanoid and industrial robotics could advertising marke
Slide 15: Appen is winning in complex areas of Generative AI
Appen is winning in complex areas of Generative AI Examples of Appen projects started in 2026 New team in existing First project with First project with foundation Expansion of Program extension frontier lab customer foundation model builder model builder existing project with AI lab Multi-modal Cod
Slide 16: Appen is well positioned to capture growth at a global scale
Appen is well positioned to capture growth at a global scale Deep track record supporting the Infusing 30-year expertise with new tech- globalization of B2C based AI models forward capabilities Next wave of large AI data demand is in Appen's area of Combining Appen's 30-year legacy and expertise wit
Slide 17: FY25 results
FY25 results Appen
Slide 18: FY25 highlights
FY25 highlights $230.8 million revenue $12.2 million underlying Appen Global turnaround in FY25 EBITDA1 (ex FX) in FY25 continues • Up 4.5% on FY24, excluding the impact of • 5.3% EBITDA margin for the year, with a strong • $127.9m revenue for FY25, down 21%2 vs FY24 Google Q4 of 18.2% • $5.8m under
Slide 19: FY25 Group financial performance
FY25 Group financial performance Group revenue ($M)1 Group Gross Margin2 % Group underlying EBITDA3 before FX ($M) 300 41.0% 20 250 15 230.8 40.3% 200 220.9 40.0% 12.2 150 10 39.3% 100 39.0% 5 50 3.5 0 38.0% 0 FY24 FY25 FY24 FY25 FY24 FY25 • $230.8 million revenue for FY25, up 4.5% on • 40.3% gross
Slide 20: Appen Global: strong finish in Q4, 24.6% EBITDA margin
Appen Global: strong finish in Q4, 24.6% EBITDA margin Appen Global revenue ($M) Appen Global EBITDA ($M) 50 12.0 49.0 10.2 40 41.4 8.0 38.3 30 31.6 5.7 28.2 4.0 26.6 20 2.6 0.0 -0.8 -1.1 10 -2.5 0 -4.0 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 •
Slide 21: Appen China: $102.9m revenue for FY25 - 75% year on year growth
Appen China: $102.9m revenue for FY25 - 75% year on year growth Appen China revenue ($M) Appen China EBITDA ($M) 5 40 4 4.3 30 32.0 3 3.3 28.6 23.7 2 20 2.1 17.7 18.6 1 15.8 0.9 0.8 10 0 0.5 -1 0 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 • $102.9
Slide 22: Growth Strategy
Growth Strategy Appen
Slide 23: 2026 focus: continued execution to capture growth in our core market
2026 focus: continued execution to capture growth in our core market 1. Data 2. Customer 3. New data 4. Operational quality growth segments efficiency Relentless pursuit of high Hyper go-to-market focus Expand into data Continued AI-led data quality, the north star on market segments with modalities
Slide 24: Strong focus on AI enabled operational efficiencies
Strong focus on AI enabled operational efficiencies Sample initiatives Benefits AI quality agents Project Faster project outcomes and Custom data platforms automations Custom MCPs built to access data increased data quality Automated ticket responses Workforce Improved contributor experience AI inte
Slide 25: FY26 Outlook and Guidance
FY26 Outlook and Guidance Appen
Slide 26: FY26 outlook & guidance
FY26 outlook & guidance The Company remains confident on the AI data market, and the potential for Appen to meaningfully contribute to the development of leading foundation models. The Company continues to see positive signals on LLM related growth including from Appen Global and Appen China custome
Slide 27: Thank you
Thank you © 2024 proprietary & confidential 24