ASX Foreign Exempt Listing Update

Black Pearl Group
As at 30 September 2025 (Updated for capital raise)
Adjustments
(1) Completed
capital raise
$000 NZD$000 NZD$000 NZD
Assets
Current assets
Cash and cash equivalents8,953 11,15620,109
Receivables and prepayments1,500 1,500
Total current assets10,453 21,609
Non-current assets
Property, plant and equipment171 171
Goodwill15,454 15,454
Intangible assets6,700 6,700
Right-of-use asset421 421
Other financial assets55 55
Total non-current assets22,801 22,801
Total assets33,254 44,410
Liabilities
Current liabilities
Trade and other payables2,567 2,567
Employee entitlements468 468
Lease liabilities224 224
Current loans and borrowings5,052 5,052
Contract liabilities2,883 2,883
Total current liabilities11,194 11,194
Non-current liabilities
Non-current contingent consideration5,276 5,276
Lease liabilities214 214
Non-current loans and borrowings217 217
Deferred tax677 677
Total non-current liabilities6,384 6,384
Total liabilities17,578 17,578
Equity
Share capital65,048 11,156 76,204
Accumulated losses(50,716)(50,716)
Reserves1,344 1,344
Equity attributable to the owners15,676 26,832
Total liabilities and equity33,254 44,410
Signed for and on behalf of the board:
Nicholas LissetteTimothy Crown
Date: 20 November 2025
Date: 20 November 2025
Pro-forma consolidated statement of financial position
As at 30 Sept
2025
Unaudited
Pro-forma

Black Pearl Group
AS AT 30 SEPTEMBER 2025 UNAUDITED
ADJUSTMENT 1: COMPLETED CAPITAL RAISE
In November 2025, the Group raised NZD$11.8m through an insututional placement. The total fees associated with this raise were NZD$0.65 million. This
capital raise was completed on 17 November 2025.
Refer to the Black Pearl Group Interim Report for additional information and notes on the unaudited Consolidated Statement of Financial Position as at 30
September 2025.
Notes to the pro-forma financial statements

---

BLACKPEARL GROUP | INVESTOR ANNOUNCEMENT

21 NOVEMBER 2025
ASX Foreign Exempt LisƟng Update


Black Pearl Group Limited (NZX: BPG) (ASX:BPG) is pleased to advise that it has been admiƩed to the Official
List of the Australian SecuriƟes Exchange (ASX) today as a NZ foreign exempt enƟty.

Blackpearl Group has been allocated the ASX Ɵcker code of "BPG".

Official quotaƟon of BPG's shares on the ASX is expected to commence at 1:00pm (AEDT) / 3:00pm (NZST) on
Tuesday 25 November 2025, enabling shareholders to trade their Blackpearl Group shares on the NZX or ASX.

To trade on either exchange, shares will need to be registered on the share register for the parƟcular
jurisdicƟon. Shareholders wishing to move their shares to the ASX or NZX register should contact either their
share broker or Blackpearl Group’s share registry, MUFG Corporate Markets (AU) Limited, either by calling 1300
554 474 or email enquiries.nz@cm.mpm.mufg.com.

Black Pearl Group Limited will remain a New Zealand registered company and conƟnue its primary lisƟng on
the NZX. The ASX will be BPG's secondary exchange.

Proforma financial informaƟon in relaƟon to Blackpearl Group that has been submiƩed to ASX as part of our
foreign exempt lisƟng will be released to the NZX alongside this announcement. The proforma and other pre-
ASX quotaƟon documents are available on the ASX website.


ENDS

Contact

Released for and on behalf of BPG by Karen Cargill, Interim Chief Financial Officer.
For further informaƟon, please contact: karen.cargill@blackpearl.com | +64 21 135 5183


About Blackpearl Group

Blackpearl Group (BPG) is a market leading data technology company that pioneers AI-driven sales and
markeƟng soluƟons for the US market.

Specifically engineered for small-medium sized businesses (SMEs), BPG consistently delivers excepƟonal value
to its customers. Our mantra is simple: ‘We Create MoƟvaƟng OpportuniƟes’. When our customers win, we
win.

Founded in 2012, BPG is based in Wellington, New Zealand, and Phoenix, Arizona.

Blackpearl.com