Slide 1: ASX Release: Investor Presentation
ASX Release 29 January 2026 Investor Presentation Further to Appen Limited’s (Appen) (ASX:APX) announcement to the market today on its results for the quarter ended 31 December 2025, please find an investor presentation attached. For personal use only Authorised for release by a duly appointed sub-co
Slide 2: Q4 FY25 Investor Presentation
For personal use only Q4 FY25 Investor Presentation 29 January 2026
Slide 3: Important Information
Important Information The forward-looking statements included in these materials involve No representation, warranty or assurance (express or implied) is given or subjective judgement and analysis and are subject to significant made in relation to any forward-looking statement by any person (includi
Slide 4: Q4 FY25 highlights
Q4 FY25 highlights $73.4 million revenue $13.3 million underlying EBITDA Appen Global2 turnaround For personal use only in Q4 FY25 1 (ex FX) in Q4 FY25 continues • 10% growth vs prior corresponding period • 182% growth vs pcp • $41.4m revenue in Q4 FY25, up 56% on Q3 (pcp), 33% growth on Q3 FY25 FY2
Slide 5: Group financial performance
Group financial performance Group revenue ($M) Group Gross Margin1 % Group underlying EBITDA2 before FX ($M) For personal use only 80 16 50% 73.4 66.7 46% 12 13.3 60 40% 41% 40% 39% 54.1 55.3 37% 37% 50.2 51.9 8 30% 40 4 4.7 20% 1.0 1.0 20 10% 0 -0.6 -1.5 0 0% -4 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 F
Slide 6: Appen Global: strong momentum in Q4, 24.6% EBITDA margin
Appen Global: strong momentum in Q4, 24.6% EBITDA margin Appen Global revenue ($M) Appen Global EBITDA ($M) For personal use only 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 Q
Slide 7: Appen China: $102.9m revenue for FY25 - 75% year on year growth
Appen China: $102.9m revenue for FY25 - 75% year on year growth Appen China revenue ($M) Appen China EBITDA ($M) For personal use only 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
Slide 8: FY25 profit and loss snapshot
FY25 profit and loss snapshot For personal use only FY25 FY24 Change Commentary unaudited • Revenue increased 4.5%1 to $230.8 million, reflecting accelerated growth for Appen China that was partially offset by timing and Revenue adjusted1 230.8 220.9 4.5% volumes of large LLM projects for the Appen
Slide 9: AI megatrends driving demand for Appen's services
AI megatrends driving demand for Appen’s services For personal use only 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 c
Slide 10: Appen is winning in complex areas of Generative AI
Appen is winning in complex areas of Generative AI Examples of Appen projects started in Q4 2025 or to commence in Q1 2026 New team in existing First >$5 million project First coding project with New data modality with First project with For personal use only frontier lab customer with cloud hypersc
Slide 11: 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- For personal use only 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 le
Slide 12: 2026 focus
01 Data Quality Relentless pursuit of high data quality, the ‘north star’ for all areas of For personal use only operations, technology and talent. 2026 focus 02 Customer Growth Go-to-market focus on market segments with highest account potential, predominantly hyper-scalers and foundation model bui
Slide 13: Appendix
For personal use only Appendix
Slide 14: Appendix 1: Appen operating and reporting segments
Appendix 1: Appen operating and reporting segments Appen Global Appen China For personal use only This segment represents all operations outside of the This segment represents the China Group operations and China Group. includes China, Japan and Korea customers. All project types and data modalities