Brave Bison Group Plc · LSE:BBSN
Brave Bison — H1 FY25 Earnings Presentation
23 slides from Brave Bison's earnings presentation, September 2025
Slide 1: FY25 Interim Results, Acquisition & Trading Update
Brave Bison Group plc FY25 Interim Results, Acquisition & Trading Update September 2025 © 2025 BraveBison BraveBison
Slide 2: Disclaimer
Brave Bison Disclaimer This presentation has been prepared by Brave Bison Group plc (the “Company”) solely for information and does not purport to contain all the information that may be necessary or desirable to fully and accurately evaluate the Company or its business prospects. For the purposes o
Slide 3: Brave Bison Management Team
Brave Bison Brave Bison Management Team The Brave Bison executive team has the skillset and incentive to succeed alongside shareholders Theo Green Chief Growth Officer * Private equity & technology experience + Imperial College London BSc * 14.1% shareholder in Brave Bison (alongside Oli) Oliver Gre
Slide 4: A different beast
pean pare Oh er ® PRIMARK’ VER marketing and technology 4et= ~) Gator partner to global companies. We sell services, technology and training to some of the largest c brands in the world. er erase ) ICELANDAIR, y-| & m, newbalance AVIVA Adifferent Beast
Slide 5: Contents
Contents 3. Financial Review Acquisition Case Studies Strategy Update
Slide 6: H1 FY25 Highlights
H1 FY25 Highlights £12.0m +19% £2.3m Net Revenue y-o-y Adj. EBITDA Builtvisible. £3.9m (43%) Ly, aia Net Cash y-o-y Acquisitions Announced
Slide 7: H1 FY25 Income Statement
H1 FY25 Income Statement Solid top-line progress = Net Revenue grew 19%, driven Unaudited H12025| 12024] Change FY24 by acquisitions made in the period and strong trading in Net Revenue £12.0m £10.1m +19% £21.3m performance marketing and Adj. EBITDA £2.3m £2.1m +6% £4.5m across our media network Adj
Slide 8: Summary of Adjustments
Summary of Adjustments Increased acquisition related costs H1 2025 Adj. Profit Before Tax £1.9m Acquisition Costs £1.0m Restructuring & Integration Costs £0.5m Share Based Payments £0.1m Amortisation of Acquired Intangibles £0.2m Statutory Profit Before Tax £0.1m H12024 £1.8m £0.0m £0.2m £0.2m £0.2m
Slide 9: H1 FY25 Cashflow
H1 FY25 Cashflow " Operating cash outflow of £1.7m due to substantial H1 2025 H1 2024 acquisition and restructuring Adjusted EBITDA £2.3m £2.1m costs and unwinding of Restructuring (£0.5m) (£0.2m) liabilities on acquisition balance Acquisition costs (£1.0m) (£0.0m) sheets Change in working capital (
Slide 10: H1 FY25 Balance Sheet
10 H1 FY25 Balance Sheet (unaudited) Intangible assets Tangible assets Deferred tax asset Trade and other receivables Cash and cash equivalents Trade and other payables Contingent acquisition liabilities Bank loans Lease liabilities Deferred tax liability Other liabilities Net Assets 6/25 £21.4m £1.
Slide 11: Primark, EQT, Tottenham Hotspur FC, EA Games Guinness World Records
Primark, EQT, Tottenham Hotspur FC, EA Games Guinness World Records
Slide 12: Acquisition Case Studies
Acquisition Case Studies
Slide 13: MiniMBA
B MiniMBA The UR’s leading marketing skills platform Acquired in June 2025 from Centaur Media for a purchase price of £19m MiniMBA’s founder Professor Mark Ritson has become a top shareholder in Brave Bison MiniMBA is a marketing skills and training platform that provides MBA- level education throug
Slide 14: MTM
“mtm Technology consultancy for strategy and insights £12m acquisition announced in September 2025 Founders remaining with the business as shareholders in Brave Bison with a 5-year earn out arrangement MTM works with global technology and media companies such as Google, Figma, Samsung and Spotify, a
Slide 15: Net Revenue, Adj. EBITDA, Adj. Basic EPS
Net Revenue Adj. EBITDA Adj. Basic EPS 8.4p 7.0p 5.7p 6.1p 3.6p 4.9p (3.5p)
Slide 16: Strategy Update
Strategy Update
Slide 17: Capitalising on complexity from trend to spend
Capitalising on complexity from trend to spend ss -, y ‘ c va? Engage SocialChain B n FAN ENGAGHME? : is a. adi H tel Building brands from social out ~s « JORG F Finding, growing and monetising 8 : - = COMMERCE - «gat fanbases ee Bea eae e& Driving clicks and ci ns % ‘i | ITI Tt ITI growth consultan
Slide 18: Brave Bison Executive Team
Team Brave Bison Executive Team Oli Green Theo Green Philippa Norridge Buster Dover Hannah Baker Laura Crofton- Geoff Griffiths Atkins Hannah Kimuyu Gregg Oldfield Jacinta Faul Tim Plyming Caroline Wren © 2025 BraveBison
Slide 19: Positive outlook
Brave Bison G Positive outlook BraveBison Brave Bison has performedwell, picking up new customers and expanding scope with existing relationships AudienceGPT was awarded Best Operational Use of Al at the Campaign Tech Awards in June 2025, beating competition from Unilever and specialist Al companies
Slide 20: How it works
HOW IT WORKS A focus group at your fingertips. RESEARCH PLANNING DELIVERY OPTIMISATION HOW WE USE IT 1. Smarter audience research 2. Map the moments that matter 3. Before you launch, know what will land WATCH DEMO WATCH DEMO WATCH DEMO A different
Slide 21: Speed and scale
at speed into paid ads speed scale existing brand assets delivering performance • tripled • 250 new 6 assets months • 195% • 27% • 290% • 69% A different
Slide 22: Integration Strategy
Integration Strategy Tiered approac n Brave Bison Integration Integration-lite Finance team, financial Finance Operations reporting, transactional x x x finance and financial controls Administration, systems, HR & People recruitment, social & wellbeing x x x New business, pitching, Growth & Marketin
Slide 23: Investment Case
Brave Bison Investment Case 1 2 3 Track record in accretive acquisitions: pipeline, execution and integration Positioned for growth in key markets: digital commerce, social media / influencer, eLearning Net debt below 1x EBITDA, positioned for growth Opportunity to capitalise on Al-services in marke