Quarterly Activities/Appendix 4C Cash Flow Report

Carma Limited (ASX: CMA) ("Carma" or "the Company") is pleased to provide its Quarterly Activity Report and Appendix 4C for the quarter ended 31 December 2025 (Q2 FY 2026). Key highlights: ● 1,199 total units sold, up 66% on prior corresponding period (“pcp”) comprising 746 retail units sold (+29% on pcp) and 453 wholesale units sold (+166% on pcp) ● Total revenue of $27.4m, up 48% on pcp ● Gross