Adjustment to Preliminary Results

Blackpearl | Level 1 60 Cuba Street
Wellington 6011 | New Zealand
hello@blackpearlgroup.com | +64 480 39390



9 June 2023
Adjustment to Preliminary Results
Further to the release of its unaudited full year preliminary results on 30 May 2023,
Blackpearl Group can advise of a non-cash adjustment that has arisen through the course of
completing the audit on those results.

The adjustment arises from the accounting treatment of goodwill arising from Blackpearl
Group’s acquisition of New Old Stamp in the final quarter of 2022. This non-cash adjustment
has the effect of reducing Blackpearl Group’s reported loss for the period by approximately
$270,000 through the recognition of an income tax credit.

The adjustment also causes Blackpearl Group to recognise a deferred tax liability on its
balance sheet together with a deferred tax asset (which offset each other) and goodwill to
increase by approximately $270,000.

Blackpearl Group’s audit will be completed and its annual report released to market at the
end of June.

For and on behalf of the board,
Karen Cargill
Chief Financial Officer
For further information, please contact:
hello@blackpearlgroup.com | +64 480 39390