Slide 1: FY25 Unaudited Results Presentation
FY25 Unaudited 29 August 2025 Results Presentation For personal use only
Slide 2: Important Information
Important Information This presentation is given on behalf of HighCom Limited (HighCom) No representation, warranty or assurance (express or implied) is given or made in relation to any forward-looking statement by any person (including HighCom or any of Information in this presentation is for gener
Slide 3: Agenda
Agenda For personal use only 1. Results and Overview 05 2. FY25 Financial Performance 06 3. Review of HighCom Armor 13 4. Review of HighCom Technology 17 5. Strategic Priorities 20 6. Conclusion 21 6. Q&A 22 HIGHCOM LTD| Investor Presentation|29/08/25 3
Slide 4: Today's Presenters
Today’s Presenters For personal use only Ben Harrison Todd Ashurst Martyn Dominy Chairman of the Board G r o u p C h i ef E xe c u t i ve O f f i c e r Group Chief Financial Officer Mr Harrison has 15 years of experience in advising Todd Ashurst, DSM joined Highcom Group after 32 years of Martyn has
Slide 5: Overview FY25 – Unaudited Results
Overview FY25 – Unaudited Results 1 • New Group Executive Team • Reduced operating costs and overheads Stabilisation • Moved superseded inventory, converted to cash For personal use only • Reduced total inventory from $17m to $14m 2 • Moved the business towards an agile and scalable model Efficienci
Slide 6: Key Snapshot for FY25 – State of Play
Key Snapshot for FY25 – State of Play Issue Strategy Progress Cash management • The business continues to actively manage cash and control expenses. For personal use only Excess Inventory • Remained focused on controlling inventory levels and reduce excess and superseded inventory of older product m
Slide 7: Corporate Snapshot
Corporate Snapshot Traded Volume Volume Price (m) ($AU) Adj Close $0.55 8,000,000 7,000,000 For personal use only $0.45 6,000,000 5,000,000 $0.35 4,000,000 $0.25 3,000,000 2,000,000 $0.15 1,000,000 $0.05 - Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul
Slide 8: FY25 Results – Key Highlights
FY25 Results – Key Highlights Group Divisional Revenue Attribution (A$m) Group Revenue (A$m) & Gross Margin % Volume (m) Adj Close $60 $60.00 60% $50 48 45 $50.00 50% For personal use only +6% $40 35 32 $40.00 40% $30 +10% $30.00 30% $20 $20.00 20% 14 13 $10 (3)% $10.00 10% $0 $0.00 0% Armour Techno
Slide 9: Cashflow Waterfall ($m)
Cashflow Waterfall ($m) Volume (m) Adj Close 3.5 0.1 For personal use only (1.1) 6.2 0.8 5.8 0.7 (2.9) (1.5) Primarily XTclave Investment HIGHCOM LTD| Investor Presentation|29/08/25 HIGHCOM LTD | INVESTOR PRESENTATION 9 9
Slide 10: Group Overview
Group Overview HighCom Technology FY25 Revenue by Customer Country • Total Revenue $13m o Product sales during the year $9m 12% o Consulting and support services revenue $4m For personal use only • Gross Profit Margin 28% 21% • EBITDA Contribution $3.6m or 27% • Delivery of the L156 order, resulted
Slide 11: FY25 EBITDA Breakdown
FY25 EBITDA Breakdown Volume (m) Adj Close Technology EBITDA ($Am) 4.00 3.50 3.60 Group EBITDA ($Am) For personal use only 15.0 3.00 10.9 2.00 9.0 1.40 10.0 1.00 5.0 - FY23 FY24 FY25 0.2 0.0 Armor EBITDA ($Am) (3.0) 15.00 12.0 (5.0) 10.00 5.00 (10.0) 1.3 (9.6) - (15.0) (5.00) FY21 FY22 FY23 FY24 FY2
Slide 12: HighCom Armor - Overview
HighCom Armor- Overview • Designs, manufactures, and supplies advanced ballistic personal protection: Body Armor, Helmets, Shields and Armor Panels & Platform Structures. For personal use only Key Customers: Global militaries National Security US Law Enforcement First Responders Locations: Global Ma
Slide 13: HighCom Armor
HighCom Armor • FY25 sales $35m with EBITDA of $1.3m For personal use only • Restructured sales team to support sales channel diversification across five key regions of the USA • Sales & Marketing focus on moving the last remaining superseded or previously impaired stock. Impacting margins. • Govern
Slide 14: HighCom Armor - XTclave Update
HighCom Armor - XTclaveTM Update • The XTclave T M was successfully handed over to the US team in preparation for production For personal use only of the next generation of armour products by HighCom. • The Xtclave is operational and remains under engineering control whilst new products are develope
Slide 15: FY25 Transformation Initiatives
FY25 Transformation Initiatives 1 • Enhanced supply chain planning optimising raw material purchases. Production • Tariff impact marginal, costs will be passed to customers For personal use only Optimisation • Improved delivery timelines (bulk and quick-ship options) 2 • Reduce current product range
Slide 16: Highcom Armor: Inventory Management
Highcom Amour: Inventory Management Volume (m) Adj Close Highcom Armor Highcom Armor Finished Goods & Raw Materials Finished Goods & Raw Materials (%) (USD$M) 14.00 12.80 13.00 For personal use only 12.00 10.10 9.80 50% 52% 55% 53% 48% 10.00 9.20 8.10 8.30 8.00 7.30 6.00 4.90 4.50 52% 4.00 50% 48% 4
Slide 17: HighCom Technology
HighCom Technology • Co- l ocated wi t h Corporat e Headquarters i n Ca nberra , AC T, Aust ral i a. • Focused on manufact uri ng and suppl yi ng Aust ra l i a n Depart ment of Defence a nd Securi t y Agenci es wi t h worl d- l ea di ng product s: For personal use only Systems – Small and S o l u t
Slide 18: HighCom Technology – L156
HighCom Technology – L156 • I n M a y 2 0 2 5 , H i g h C o m Te c h n o l o g y w a s a w a rd e d a s i g n i f i c a n t co n t ra c t u n d e r D e fe n c e P ro j e c t L 1 5 6 t o p ro v i d e C o u n t e r - U n m a n n e d A e r i a l S y s t e m s For personal use only ( C UA S ) . • T h e
Slide 19: Strategy & FY26 Outlook
Strategy & FY26 Outlook Maintain Strategy For personal use only REINFORCE SUCCESS SEEK ADJACENCIES CREATE OUR FUTURE Continue to invest in the areas of our Opportunities that extend our reach and Invest in organic expansion business that have been successful. can draw on our experiences and opportun
Slide 20: Conclusion
Conclusion • HighCom has demonstrated financial recovery in FY25, returning to profitability, driven by increased sales, cost controls and reductions, with inventory management initiatives. For personal use only • Highcom Armor cost base has been stablised to support future growth without adding add
Slide 21: Q&A
For personal use only Q&A FY25 Results Presentation 29 August 2025 21
Slide 22: Appendix
For personal use only APPENDIX FY25 Results Presentation 29 August 2025 22
Slide 23: Summary Income Statement
Summary Income Statement For personal use only Key Financial Highlights Summary Income Statement (A$m) FY23 FY24 FY25 Revenue 89.4 45.3 48.1 COS (55.7) (31.9) (37.1) Gross Profit 33.7 13.4 11.0 Gross Margin 38% 30% 23% EBITDA 10.9 (9.6) 0.2 Net Profit/(Loss) 6.1 (12.0) (1.2) HIGHCOM LTD | INVESTOR P
Slide 24: Summary Financial Position
Summary Financial Position Key Financial Highlights For personal use only Summary Financial Position (A$m) FY24 FY25 Current Assets 28.3 25.9 Non-Current Assets 11.4 14.5 Total Assets 39.7 40.4 Current Liabilities 8.6 9.5 Non-Current Liabilities 0.2 1.2 Total Liabilities 9.9 10.7 Total Net Assets/(L