Half Year Report to 31 December 2025

Enprise Group Limited
Interim Results for the Six Months Ended 31 December 2025
The Directors of Enprise Group Limited (NZX: ENS) present the Group’s interim results for
the six months ended 31 December 2025.
Financial Summary
Revenue for the period was $12.95 million, an increase of 3.5% on the prior corresponding
period (1H FY25: $12.52 million).
The Group recorded an operating loss of $0.62 million (1H FY25: operating profit of $0.12
million). After equity-accounted results, net finance costs and tax, the net loss attributable
to shareholders was $0.54 million, compared with a profit of $0.15 million in the prior
period.
Employee costs increased to $10.37 million (1H FY25: $9.16 million), reflecting additional
capability and wage movements across both operating divisions. Other operating costs were
broadly consistent with the prior period.
Basic and diluted earnings per share were (2.71) cents, compared with 0.75 cents in 1H
FY25.
Segment Performance
Kilimanjaro Consulting
Revenue increased to $12.08 million (1H FY25: $11.69 million). The segment recorded an
operating loss of $0.38 million (1H FY25: profit of $0.44 million). Margin performance was
impacted by higher employment costs and utilisation levels during the period.
Recurring revenue is up 12% and combined with contracted support revenue continues to
form a significant component of segment income.
The business has over the past 2 years, successfully executed a transition from its Exo
origins, being on-premise server based software, to where it is today as one of the largest

Acumatica partners in the world. Our strategy of “best partner standing” in the Exo space
aligns with the extended runway for Exo that MYOB has committed to. We have made
significant investment in world class implementation and consulting capability and best in
class Customer Experience.
While these changes have impacted profitability, we have, through good cash flow
management, been able to navigate this transition.
Acumatica is a leader in the incorporation of A.I. into their systems. Kilimanjaro’s core
purpose is to improve efficiency in businesses through the clever use of technology. The A.I.
revolution aligns perfectly with that.
Mid-market businesses are quick to respond to economic signals, and we are seeing an
uptick as businesses invest in technology that will improve efficiency.
While business confidence is improving in Australia and New Zealand the economic
headwinds were prevalent last year. Despite this, we are achieving good revenue growth.
The unique mix of our products and services, our positioning as the premier MYOB
implementation partner, and our highly productive and motivated team places us in a
position to lean in to growth in the coming years.
Our team must be credited with their resilience in getting through an extraordinarily
difficult period.
Recipe Marketing
The investment in Recipe Marketing is proving to be strategically sound. We are seeing
great synergies between the businesses, and exceptional growth. Hubspot is a leader in
incorporating A.I. into their products, and our clients are seeing immediate benefits from
this. The Recipe Marketing business has quickly achieved HubSpot Diamond Partner Status
and is now in the top 10 HubSpot partners in the JPAC region.
iSell
Revenue increased to $0.85 million (1H FY25: $0.81 million). iSell recorded an operating
profit of $0.06 million (1H FY25: $0.11 million). Investment in product development
continued during the period.
Investments
The Group’s 32.35% investment in Datagate Innovation Limited contributed an equity-
accounted loss of $0.03 million (1H FY25: gain of $0.13 million including fair value-related
adjustments).
The 6.4% investment in Vadacom Holdings Limited was carried at $0.34 million at balance
date.

Balance Sheet and Cash Flow
Net assets at 31 December 2025 were $3.12 million (30 June 2025: $3.06 million).
Net cash (cash less overdraft) was $1.41 million, compared with $0.94 million at 30 June
2025. Operating cash inflow for the period was $0.62 million.
During the period, the Company completed a rights issue raising $0.76 million. A further
$0.12 million was raised in January 2026 through the allotment of shortfall shares.
Total bank borrowings at balance date were $1.09 million.
Outlook
Market conditions remain competitive across New Zealand and Australia, with ongoing
margin pressure in consulting services. The Group continues to focus on improving
utilisation, maintaining cost discipline, and growing recurring revenue streams across its
software platforms.
The Board remains committed to strengthening operating performance and maintaining
balance sheet stability.
The Directors thank staff and shareholders for their continued support.

Ends

---

ENPRISE GROUP LIMITED
Interim Financial Report
for the six months ended 31 December 2025

ENPRISE GROUP LIMITED__
INTERIM REPORT__
CONTENTS
Letter from our Board
2
Directory
4
Interim Financial Statements
5
1

ENPRISE GROUP LIMITED__
INTERIM REPORT__
LETTER FROM OUR BOARD
Review of operations and outlook
Kilimanjaro Consulting Business
Recipe Marketing
iSell business
Datagate investment
Vadacom investment
Balance Sheet and Cash Flow
The Directors are pleased to submit to shareholders their interim report and financial statements for the six months ended 31
December 2025.
Revenue increased to $12.08 million (1H FY25: $11.69 million). The segment recorded an operating loss of $0.38 million (1H FY25:
profit of $0.44 million). Margin performance was impacted by higher employment costs and utilisation levels during the period.
Recurring revenue is up 12% and combined with contracted support revenue continues to form a significant component of segment
income.
The business has over the past 2 years, successfully executed a transition from its Exo origins, being on-premise server based
software, to where it is today as one of the largest Acumatica partners in the world. Our strategy of “best partner standing” in the Exo
space aligns with the extended runway for Exo that MYOB has committed to. We have made significant investment in world class
implementation and consulting capability and best in class Customer Experience.
While these changes have impacted profitability, we have, through good cash flow management, been able to navigate this transition.
Acumatica is a leader in the incorporation of A.I. into their systems. Kilimanjaro’s core purpose is to improve efficiency in businesses
through the clever use of technology. The A.I. revolution aligns perfectly with that.
Mid-market businesses are quick to respond to economic signals, and we are seeing an uptick as businesses invest in technology
that will improve efficiency.
While business confidence is improving in Australia and New Zealand the economic headwinds were prevalent last year. Despite
this, we are achieving good revenue growth. The unique mix of our products and services, our positioning as the premier MYOB
implementation partner, and our highly productive and motivated team places us in a position to lean in to growth in the coming years.
Our team must be credited with their resilience in getting through an extraordinarily difficult period.
The Group’s 32.35% investment in Datagate Innovation Limited contributed an equity-accounted loss of $0.03 million (1H FY25: gain
of $0.13 million including fair value-related adjustments).
Revenue for the period was $12.95 million, an increase of 3.5% on the prior corresponding period (1H FY25: $12.52 million).
The Group recorded an operating loss of $0.62 million (1H FY25: operating profit of $0.12 million). After equity-accounted results, net
finance costs and tax, the net loss attributable to shareholders was $0.54 million, compared with a profit of $0.15 million in the prior
period.
Employee costs increased to $10.37 million (1H FY25: $9.16 million), reflecting additional capability and wage movements across
both operating divisions. Other operating costs were broadly consistent with the prior period.
Basic and diluted earnings per share were (2.71) cents, compared with 0.75 cents in 1H FY25.
Revenue increased to $0.85 million (1H FY25: $0.81 million). iSell recorded an operating profit of $0.06 million (1H FY25: $0.11
million). Investment in product development continued during the period.
The investment in Recipe Marketing is proving to be strategically sound. We are seeing great synergies between the businesses, and
exceptional growth. Hubspot is a leader in incorporating A.I. into their products, and our clients are seeing immediate benefits from
this. The Recipe Marketing business has quickly achieved HubSpot Diamond Partner Status and is now in the top 10 HubSpot
partners in the JPAC region.
The 6.4% investment in Vadacom Holdings Limited was carried at $0.34 million at balance date.
Net assets at 31 December 2025 were $3.12 million (30 June 2025: $3.06 million).
Net cash (cash less overdraft) was $1.41 million, compared with $0.94 million at 30 June 2025. Operating cash inflow for the period
was $0.62 million.
During the period, the Company completed a rights issue raising $0.76 million. A further $0.12 million was raised in January 2026
through the allotment of shortfall shares.
Total bank borrowings at balance date were $1.09 million.
2

ENPRISE GROUP LIMITED__
INTERIM REPORT__
LETTER FROM OUR BOARD
Outlook
The directors’ report is signed for and on behalf of the Board, and was authorised for issue on the date below.
Nicholas Paul (Chairman)Ronald Baskind (Director)
27 February 2026
27 February 2026
Market conditions remain competitive across New Zealand and Australia, with ongoing margin pressure in consulting services. The
Group continues to focus on improving utilisation, maintaining cost discipline, and growing recurring revenue streams across its
software platforms.
The Board remains committed to strengthening operating performance and maintaining balance sheet stability.
The Directors thank staff and shareholders for their continued support.
3

ENPRISE GROUP LIMITED__
INTERIM REPORT__
DIRECTORY
BOARD OF DIRECTORS
Nicholas PaulIndependent Chairpersonappointed 1 December 2015
Ronald BaskindManaging Directorappointed 31 January 2018
Aaron RidgwayIndependent Non-Executive Directorappointed 11 June 2024
Susan StoneIndependent Non-Executive Directorappointed 12 May 2025
Gina TuzcetNon-Executive Directorappointed 2 January 2026
REGISTERED OFFICEAUDITOR
Level 2, 16 Hugo Johnston DriveUHY Haines Norton
PenroseLevel 1
Auckland 10611 York Street
Phone: +64 9 829 5500Sydney NSW 2001
www.enprisegroup.comPhone +61 2 9256 6600
Appointed: 30 June 2023
CONTACT INFORMATIONSOLICITORS
PO Box 62262Chapman Tripp, Auckland, New Zealand
Sylvia ParkAsh Street, Sydney, Australia
Auckland 1644
info@enprisegroup.com
BANKERS
SHARE REGISTRY
Bank of New Zealand Limited
MUFG Pension and Market Service (NZ) Limited
Level 30, PwC Tower
COMPANY INFORMATION
15 Customs Street WestNZBN1562383-
Auckland, New ZealandARBN 125 825 792
Phone: +64 9 375 5990ABN 41 125 825 792
PRINCIPAL ACTIVITIES
▪
▪
Enprise Group has two additional strategic investments:
▪
▪
Enprise Group Limited (Enprise) is a hi-tech software and services investment company that has two operating divisions:
Enprise Group Limited shares are listed on the NZX. The Group's share register is maintained by Link Market Services Limited. Link is
your first point of contact for any queries regarding your investment in Enprise Group
Kilimanjaro Consulting (Kilimanjaro), a solutions provider for MYOB Enterprise software and companion products (including the 52%
shareholding in Recipe Marketing) in Australia and New Zealand.
iSell Pty Limited (iSell), a developer/seller of a cloud-based quoting system (ITQuoter) on a Software-as-a-Service (SaaS) model to
the Managed Service Provider (MSP) market in Australia, UK/Europe, New Zealand, South Africa, and North America.
32.4% of Datagate Innovation Limited (Datagate), a developer/provider of online reporting/billing services under a SaaS model for
MSP’s reselling Telecom/Utility services in North America, Australia, New Zealand, and UK/Europe.
6.4% of Vadacom Limited (Vadacom), a developer/provider of multi-tenant cloud based VoIP solutions for corporations in New
Zealand and Australia.
4

ENPRISE GROUP LIMITED__
INTERIM REPORT__
INTERIM FINANCIAL STATEMENTS
for the six months ended 31 December 2025
Statement of Comprehensive Income
6
Statement of Financial Position
7
Statement of Changes in Equity
8
Statement of Cash Flows
9
Notes to the Financial Statements
10
5

ENPRISE GROUP LIMITED__
INTERIM REPORT__
STATEMENT OF COMPREHENSIVE INCOME
for the six months ended 31 December 2025
31 Dec 202531 Dec 202430 June 2025
UnauditedUnauditedAudited
Note
6 mths $'0006 mths $'00012 mths $'000
Revenue from contracts with customers312,95412,51724,831
Other operating income211779
Employee expense4(10,372)(9,162)(18,644)
Other operating costs(3,361)(3,235)(6,270)
Other gains/(losses) - net137(13)(81)
Operating profit/(loss)(621)124(85)
Equity earnings/(losses) from associates and joint ventures(25)(20)(75)
Other gains/(losses) related to associates and joint ventures- 154163
Impairment of intangible assets- - -
Finance cost - net(137)(137)(273)
Profit/(loss) before income tax(783)121(270)
Income tax benefit/(expense)12815141
Profit/(loss) for the period(655)136(129)
Other Comprehensive Income
Items that may be reclassified to profit or loss
Foreign currency translation differences(42)(10)8
Items that will not be reclassified to profit or loss
Changes in the fair value of investments through other comprehensive income- - (117)
Total other comprehensive income/(loss) for the period, net of tax(42)(10) (109)
Total comprehensive income/(loss) for the period
(697)126(238)
Profit for the period is attributable to:
Non-Controlling Interest(111)(15)(28)
Owners of Enprise Group Limited
(544)151(101)
(655)136(129)
Total comprehensive income for the period is attributable to
Non-Controlling Interest(111)(15)(28)
Owners of Enprise Group Limited
(586)141(210)
(697)126(238)
Earnings per share from profit for the period attributable to ordinary shareholders of the Enprise Group Limited
Basic and diluted earnings per share (see note 5) cents per share(2.71) 0.75 (0.50)
6

ENPRISE GROUP LIMITED__
INTERIM REPORT__
STATEMENT OF FINANCIAL POSITION
as at 31 December 2025
31 Dec 202531 Dec 202430 June 2025
UnauditedUnauditedAudited
Note
$'000$'000$'000
ASSETS
Current
Cash and cash equivalents
10
2,2731,4051,588
Trade and other receivables
3,3753,2483,902
Contract assets
768625672
Current tax assets
- 1-
Staff receivables
212423
Total current assets
6,4375,3036,185
Non-current
Investments in joint ventures and associates
7
864935889
Investments in other entities
8
335452335
Staff receivables - non current
282626
Property plant and equipment
621581604
Intangible assets
9
3,6623,2213,339
Right-of-use assets - non-current
1,5741,9791,753
Deferred tax asset
1,9261,6381,160
Other non-current assets
397367369
Total non-current assets
9,4079,1998,475
Total assets
15,84414,50214,660
LIABILITIES
Current
Trade and other payables
3,7582,9023,553
Provisions
2,6192,1382,274
Contract liabilities
2,2171,6571,968
Current tax liabilities
42- 62
Borrowings
10
1,0858051,093
Lease liabilities
514525477
Total current liabilities
10,2358,0279,427
Non-current
Provisions - non-current
326334417
Borrowings - non current
10
- 221-
Lease liabilities - non-current
1,5701,8501,761
Deferred tax liability
596646-
Total non-current liabilities
2,4923,0512,178
Total liabilities
12,72711,07811,605
Net assets3,1173,4243,055
EQUITY
Share capital
5(a)14,14613,39213,387
Foreign exchange translation reserve342366384
Financial assets at FVOCI reserve
236353236
Retained earnings/(losses)
(11,274)(10,479)(10,730)
Equity attributable to the owners of Enprise Group Limited3,4503,6323,277
Non-controlling interests
6(333)(208)(222)
Total equity3,1173,4243,055
- - -
For and on behalf of the Board of Directors who authorise the issue of the financial statements
Nicholas Paul (Chairman)Ronald Baskind (Director)
27 February 2026
27 February 2026
Total assets per share ($ per share)
0.73 0.72 0.73
Net tangible assets per share ($ per share)(0.03) 0.01 (0.01)
7

ENPRISE GROUP LIMITED__
INTERIM REPORT__
STATEMENT OF CHANGES IN EQUITY
for the six months ended 31 December 2025
Share
capital
Foreign
exchange
translation
reserve
Financial
assets at
FVOCI
reserve
Retained
earnings
Non-
controlling
interests
Total
equity
$'000$'000$'000$'000$'000$'000
Balance at 1 July 202413,392 376 353 (10,701) (316) 3,104
Transactions with shareholders in their capacity as owners
New shares issued- - - - - -
Transactions with non-controlling interests- - - 71 (71) -
Share issue in Recipe Marketing Limited- - - - 194 194
Total transactions with shareholders- - - 71 123 194
Comprehensive income
Profit/(loss) for the period- - - 151 (15) 136
Other comprehensive income/(loss)- (10) - - - (10)
Total comprehensive income/(loss) net of tax(10) - 151 (15) 126
Balance at 31 December 2024 (unaudited)13,392 366 353 (10,479) (208) 3,424
Balance at 1 July 202513,387 384 236 (10,730) (222) 3,055
Transactions with shareholders in their capacity as owners
New shares issued764 - - - - 764
Shares held as treasury stock(5) - - - - (5)
Transactions with non-controlling interests- - - - - -
Share issue in Recipe Marketing Limited- - - - - -
Total transactions with shareholders759 - - - - 759
Comprehensive income
Profit/(loss) for the period- - - (544) (111) (655)
Other comprehensive income/(loss)- (42) - - - (42)
Total comprehensive income/(loss) net of tax- (42) - (544) (111) (697)
Balance at 31 December 2025 (unaudited)14,146 342 236 (11,274) (333) 3,117
Balance at 1 July 202413,392 376 353 (10,701) (316) 3,104
Transactions with shareholders in their capacity as owners
New shares issued- - - - - -
Shares held as treasury stock(5) - - - - (5)
Transactions with non-controlling interests- - - 72 122 194
Total transactions with shareholders(5) - - 72 122 189
Comprehensive income
Profit/(loss) for the period- - - (101) (28) (129)
Other comprehensive income/(loss)- 8 (117) - - (109)
Total comprehensive income/(loss) net of tax- 8 (117) (101) (28) (238)
Balance at 30 June 2025 (audited)13,387 384 236 (10,730) (222) 3,055
8

ENPRISE GROUP LIMITED__
INTERIM REPORT__
STATEMENT OF CASH FLOWS
for the six months ended 31 December 2025
31 Dec 202531 Dec 202430 June 2025
UnauditedUnauditedAudited
Note
6 mths $'0006 mths $'00012 mths $'000
OPERATING ACTIVITIES
Cash was provided from:
Receipts from customers14,836 13,744 27,421
Interest received5 7 13
Dividends received21 17 33
Income tax refund received- - 1
Cash was applied to:
Payments to suppliers & employees(14,099) (13,374) (26,500)
Interest paid(140) (143) (286)
Income tax paid- - -
Net cash inflow (outflow) from operating activities12623 251 682
INVESTING ACTIVITIES
Cash was provided from:
Loans repaid by staff2 2 5
Loans repaid by related parties- - -
Cash was applied to:
Purchase of property, plant and equipment(35) (274) (388)
Software development costs(281) (207) (436)
Investment in equity accounted investment- (100) (100)
Term deposits- - (211)
Purchase of business- (210) -
Net cash inflow (outflow) from investing activities(314) (789) (1,130)
FINANCING ACTIVITIES
Cash was provided from:
Proceeds from issue of shares765 - -
Proceeds of bank borrowings- 200 200
Proceeds from other borrowings- 43 -
Proceeds from issue of shares in iSell Pty Limited to non-controlling interests- - 206
Cash was applied to:
Repayment of lease liabilities(278) (168) (409)
Repayment of bank borrowings(221) (197) (407)
Treasury stock(5) - (5)
Net cash inflow (outflow) from financing activities261 (122) (415)
Net increase / (decrease) in cash and cash equivalents held570 (660) (863)
Net foreign exchange differences(98) (4) 63
Cash and cash equivalents at beginning of the period937 1,737 1,737
Net (bank overdraft / cash and cash equivalents at end of the period
10
1,409 1,073 937
Represented by:
Cash and cash equivalents 2,273 1,405 1,588
Bank overdraft(864) (332) (651)
Net (bank overdraft / cash and cash equivalents at end of the period1,409 1,073 937
- - -
9

ENPRISE GROUP LIMITED__
INTERIM REPORT__
NOTES TO THE FINANCIAL STATEMENTS
for the six months ended 31 December 2025
1BASIS OF PREPARATION
(a)Reporting entity
(b)Compliance statement
- IAS 34 Interim Financial Reporting and NZ IAS 34 Interim Financial Reporting;
- Generally Accepted Accounting Practice (GAAP) applicable to for-profit entities
- the requirements of the Financial Market Conduct Act 2013, the Companies Act 1993, and the NZX listing rules;
(c)Basis of preparation
(d)Principles of consolidation
The condensed interim consolidated financial statements relate to the company and its subsidiaries.
Percentage ownership
31 Dec 202531 Dec 202430 June 2025
Kilimanjaro Consulting LimitedNew ZealandSoftware sales and solutions
100.00 100.00 100.00
Kilimanjaro Consulting Pty LimitedAustraliaSoftware sales and solutions
100.00 100.00 100.00
Enprise LimitedNew ZealandNon-trading
100.00 100.00 100.00
Global Bizpro LimitedNew ZealandNon-trading
100.00 100.00 100.00
iSell Pty LimitedAustraliaSoftware sales and solutions
72.51 72.51 72.51
ITQuoter LimitedNew ZealandNon-trading
72.51 72.51 72.51
ITQuoter North America IncUnited StatesNon-trading
72.51 72.51 72.51
iSell Philippines IncPhilippinesSoftware sales and solutions
72.51 72.51 72.51
Recipe Marketing LimitedNew ZealandSoftware sales and solutions
52.00 52.00 52.00
(e)Accounting policies and significant estimates and assumptions
Subsidiaries are all entities over which the Company has control. The Company controls an entity when the Company is exposed to,
or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over
the entity. Subsidiaries are consolidated from the date on which control is transferred to the Company. They are deconsolidated
from the date that control ceases.
Intercompany transactions, balances and unrealised gains or losses on transactions between Group companies are eliminated.
Accounting policies of subsidiaries are changed when necessary to ensure consistency with the policies adopted by the Company.
Name of Entity
Enprise Group Limited (the company) and its subsidiaries (together the Group) is a hi-tech software and services investment
company in Australia and New Zealand.
The company is a profit-oriented limited liability company incorporated and domiciled in New Zealand and is listed on the New
Zealand Stock Exchange (NZX) Main Board. The Group is registered under the Companies Act 1993 and is a FMC Reporting Entity
under the Financial Markets Conduct Act (FMCA) 2013.
The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets
and liabilities at fair value.
The consolidated financial statements are presented in New Zealand dollars which is the Company's functional currency and the
Group's presentation currency. All financial information has been prepared in thousands, unless otherwise stated.
Country of Principal Activity
incorporation
The same accounting policies included in the Group's Annual Report for the year ended 30 June 2025 have been applied when
preparing these financial statements. There have been no changes to accounting policies, estimates and assumptions.
The interim condensed consolidated financial statements are for Enprise Group Limited and its subsidiaries and have been prepared
in accordance with:
The unaudited financial statements do not include all the information and disclosures required in the annual financial statements,
and should be read in conjunction with the Group’s annual financial statements for the year ended 30 June 2025.
- the going concern convention, which contemplates continuity of normal business activities, the realisation of assets, and
the settlement of liabilities in the ordinary course of business.
10

ENPRISE GROUP LIMITED__
INTERIM REPORT__
NOTES TO THE FINANCIAL STATEMENTS
for the six months ended 31 December 2025
2SEGMENT INFORMATION
(a)Operational performance
Revenue
Operating profit
Business segments
31 Dec 202531 Dec 202430 June 202531 Dec 202531 Dec 202430 June 2025
6 mths $'0006 mths $'00012 mths $'0006 mths $'0006 mths $'00012 mths $'000
Kilimanjaro Consulting12,084 11,685 23,111 (376) 439 537
iSell
851
814 1,684 60 105 264
Corporate19 18 36 (305) (420) (886)
- -
12,954 12,517 24,831 (621) 124 (85)
Equity earnings and gains related to associates and joint ventures(25) 134 88
Impairment of intangible assets
- - -
Net interest expense(137) (137) (273)
- -
Profit/(loss) before taxation(783) 121 (270)
- -
Income Tax128 15 141
- -
Net profit/(loss) attributable to shareholders(655) 136 (129)
Revenue
Geographic segments
31 Dec 202531 Dec 202430 June 2025
6 mths $'0006 mths $'00012 mths $'000
New Zealand3,749 3,436 7,069
Australia9,100 8,983 17,549
EMEA*89 84 177
North America16 14 36
- -
12,954 12,517 24,831
* Europe, Middle East and Africa
(b)Interest, depreciation and amortisation
Interest revenue
Interest expense
31 Dec 202531 Dec 202430 June 202531 Dec 202531 Dec 202430 June 2025
6 mths $'0006 mths $'00012 mths $'0006 mths $'0006 mths $'00012 mths $'000
New Zealand1 1 2 70 68 138
Australia5 6 13 73 76 150
6 7 15 143 144 288
Depreciation and amortisation expense
31 Dec 202531 Dec 202430 June 2025
6 mths $'0006 mths $'00012 mths $'000
New Zealand145 141 302
Australia307 386 706
452 527 1,008
The Group is organised into three reportable operating segments based on the business segments. These segments form the basis
of internal reporting used by management and the Board of Directors to monitor and assess performance and assist with strategic
decisions.
The Board of Directors is the Group's chief operating decision maker (CODM). Management has determined the operating
segments based on the information reviewed by the Board of Directors and the Chief Executive Officer for the purposes of allocating
resources and assessing performance.
11

ENPRISE GROUP LIMITED__
INTERIM REPORT__
NOTES TO THE FINANCIAL STATEMENTS
for the six months ended 31 December 2025
2SEGMENT INFORMATION (CONTINUED)
(c)Balance sheet information
Total assets
Total liabilities
31 Dec 202531 Dec 202430 June 202531 Dec 202531 Dec 202430 June 2025
$'000$'000$'000$'000$'000$'000
Kilimanjaro Consulting11,667 11,364 11,435 16,904 12,016 12,336
iSell2,129 1,597 1,795 1,842 1,361 1,497
Corporate9,515 5,006 5,053 1,448 1,166 1,395
23,311 17,967 18,283 20,194 14,543 15,228
Inter-segment elimination(7,467) (3,465) (3,623) (7,467) (3,465) (3,623)
15,844 14,502 14,660 12,727 11,078 11,605
- - - - - -
Total assets
Total liabilities
31 Dec 202531 Dec 202430 June 202531 Dec 202531 Dec 202430 June 2025
$'000$'000$'000$'000$'000$'000
New Zealand11,682 7,926 7,420 4,177 3,573 3,701
Australia9,537 8,922 9,163 13,925 9,851 9,827
21,219 16,848 16,583 18,102 13,424 13,528
Inter-segment elimination(5,375) (2,346) (1,923) (5,375) (2,346) (1,923)
- -
15,844 14,502 14,660 12,727 11,078 11,605
- - - - - - - -
3REVENUE
- - -
31 Dec 202531 Dec 202430 June 2025
6 mths $'0006 mths $'00012 mths $'000
- -
Revenue from enterprise software and licences
3,529 3,288 6,581
- -
Revenue from services and support
7,744 7,393 14,589
- -
Revenue from iSell
851 814 1,684
Revenue from hosting services
830 1,020 1,974
- -
Revenue from other fees
- 2 3
- -
12,954 12,517 24,831
Software and licencesServices and supportExoHostedITQuoter Revenueother fees
Geographical location
31 Dec 2025
$'000$'000$'000$'000$'000
6 mths $'000
-
New Zealand
1,087 2,262 210 190 - 3,749
-
Australia
2,442 5,482 620 556 - 9,100
EMEA*
- - - 89 - 89
North America
- - - 16 - 16
- -
3,529 7,744 830 851 - 12,954
* Europe, Middle East and Africa
Geographical location
31 Dec 2024
$'000$'000$'000$'000$'000
6 mths $'000
-
New Zealand
999 1,952 352 133 - 3,436
-
Australia
2,289 5,441 668 583 2 8,983
EMEA*
- - - 84 - 84
North America
- - - 14 - 14
- -
3,288 7,393 1,020 814 2 12,517
TotalOther fees
Services and
support
Hosting
services
Software &
licences
iSell
Total
Software &
licences
Services and
support
Other fees
Hosting
services
iSell
12

ENPRISE GROUP LIMITED__
INTERIM REPORT__
NOTES TO THE FINANCIAL STATEMENTS
for the six months ended 31 December 2025
3REVENUE (CONTINUED)
Geographical location
30 June 2025
$'000$'000$'000$'000$'000
12 mths $'000
-
New Zealand
2,103 3,991 623 351 1 7,069
-
Australia
4,478 10,598 1,351 1,120 2 17,549
-
EMEA*
- - - 177 - 177
North America
- - - 36 - 36
- -
6,581 14,589 1,974 1,684 3 24,831
4EMPLOYEE BENEFIT EXPENSE
31 Dec 202531 Dec 202430 June 2025
6 mths $'0006 mths $'00012 mths $'000
Wages and salaries
9,524 8,436 17,220
Superannuation
777 677 1,327
Directors remuneration
71 49 97
10,372 9,162 18,644
- - -
5SHARE CAPITAL AND EARNINGS PER SHARE
(a)Share capital
Number of authorised sharesShare capital
31 Dec 202531 Dec 202430 June 202531 Dec 202531 Dec 202430 June 2025
sharessharesshares$'000$'000$'000
Opening ordinary shares20,062,048 20,068,057 20,068,057 13,387 13,392 13,392
Rights issue1,729,277 - - 764 - -
Share buy-back(10,000) - (6,009) (5) - (5)
- -
21,781,325 20,068,057 20,062,048 14,146 13,392 13,387
(b)Earnings per share
There are no instruments that could potentially dilute earnings per share.
31 Dec 202531 Dec 202430 June 2025
6 mths $'0006 mths $'00012 mths $'000
Earnings for the purpose of basic and diluted earnings per share:
Net profit attributable to shareholders
(544) 151 (101)
Weighted average number of ordinary shares for basic earnings per share
20,062 20,062 20,067
Basic and diluted earnings per share (cents)
(2.71) 0.75 (0.50)
All shares on issue are fully paid. All ordinary shares rank equally with one vote attached to each fully paid ordinary share and have
equal dividend rights and no par value.
Contributed equity
ordinary shares
Basic earnings per share is calculated by dividing the profit attributable to shareholders of the Company by the weighted average
number of shares on issue during the year. Diluted earnings per share assumes conversion of all dilutive potential ordinary shares
in determining the denominator.
Software &
licences
Services and
support
Hosting
Services
Share capital comprises of ordinary shares only. Incremental costs directly attributable to the issue of new shares or options are
shown in equity as a deduction, net of tax, from the proceeds.
iSellOther feesTotal
13

ENPRISE GROUP LIMITED__
INTERIM REPORT__
NOTES TO THE FINANCIAL STATEMENTS
for the six months ended 31 December 2025
6NON CONTROLLING INTEREST
31 Dec 202531 Dec 202430 June 2025
$'000$'000$'000
Carrying amount at the beginning of the period(222) (316) (387)
Transactions with non-controlling interests- (71) 194
Share issue in Recipe Marketing Limited- 194 -
Movement attributable to the owners of the parent- - -
Share of profit/(loss) for the period(111) (15) (29)
(333)(208)(222)
31 Dec 202531 Dec 202430 June 2025
$'000$'000$'000
iSell Pty Limited(364) (372) (352)
Recipe Marketing Limited31 164 130
(333)(208)(222)
7INVESTMENTS IN JOINT VENTURES AND ASSOCIATES
31 Dec 202531 Dec 202430 June 2025
$'000$'000$'000
Carrying amount at the beginning of the period889 701 701
New investment in joint ventures and associates- 100 100
-
Equity earnings/(losses) from associates and joint ventures
(25) (20) (75)
- -
Other gains/(losses) related to associates and joint ventures
- 154 163
- -
864935889
31 Dec 202531 Dec 202430 June 2025
$'000$'000$'000
Investment in equity accounted joint venture
Datagate Innovation Limited864 935 889
- -
864935889
-
Percentage ownership
31 Dec 202531 Dec 202430 June 2025
Datagate Innovation Limited
New Zealand
Software sales32.35 32.40 32.35
Enprise Group Limited acquired a controlling stake in iSell on 27 May 2020, since then the percentage of control held by the group
has increased as shares have been acquired from non controlling interests and through rights issues.
The most recent rights issue in October 2023 affected Enprise's shareholding in iSell, ultimately resulting in a non-controlling interest
percentage of 27.5% at 31 December 2023 (24.8% at 30 June 2023; 24.8% at 31 December 2022).
Non-controlling interest allocated as follows:
Carrying amount of joint ventures and associates
Investment in joint venture or associate
Non-controlling interest
Name of Entity
The Group's joint venture and associates at 31 Dec 2025 are set out below. The country of incorporation or registration is also their
principal place of business.
Country of Principal Activity
incorporation
Enprise Group Limited consolidates 100% of iSell's results and presents the portion of profit/(loss) and other comprehensive income
attributable to a non-controlling interest (NCI).
Enprise Group Limited consolidates 100% of the results in Recipe Marketing Limited through Kilimanjaro Consulting Limited and
presents the portion of profit/(loss) and other comprehensive income attributable to a non-controlling interest (NCI).
On 26 August 2024, Kilimanjaro Consulting Limited acquired the Recipe Marketing business resulting in the establishment of a non-
controlling interest percentage of 48.00% in Recipe Marketing Limited.
14

ENPRISE GROUP LIMITED__
INTERIM REPORT__
NOTES TO THE FINANCIAL STATEMENTS
for the six months ended 31 December 2025
8INVESTMENTS IN OTHER ENTITIES
31 Dec 202531 Dec 202430 June 2025
$'000$'000$'000
Carrying amount at the beginning of the period335 452 452
- - Changes in fair value of other investments- - (117)
- -
335452335
31 Dec 202531 Dec 202430 June 2025
$'000$'000$'000
- -
Vadacom Holdings Limited
335452335
9INTANGIBLE ASSETS
Software
$'000$'000$'000$'000$'000
At 1 July 2024 (audited)
Cost4,477 1,268 325 7,720 13,790
Accumulated amortisation and impairment(3,140) (1,170) (195) (6,493) (10,998)
Net book value
1,337981301,2272,792
Period ended 31 December 2024 (unaudited)
Opening net book value amount1,337 98 130 1,227 2,792
Additions207 - - 405 612
Exchange differences10 1 - - 11
Amortisation charge(72) (89) (33) - (194)
Closing net book value
1,48210971,6323,221
-
As at 31 December 2024 (unaudited)
Cost4,694 1,269 325 8,125 14,413
Accumulated amortisation and impairment(3,212) (1,259) (228) (6,493) (11,192)
- -
Net book value
1,48210971,6323,221
Year ended 30 June 2025 (audited)
Opening net book value amount1,337 98 130 1,227 2,792
Additions436 98 - 359 893
Exchange differences(27) 1 - - (26)
Amortisation charge(138) (117) (65) - (320)
Impairment charge reversal- - - - -
Closing net book value
1,60880651,5863,339
-
As at 30 June 2025 (audited)
Cost4,886 1,367 325 8,079 14,657
Accumulated amortisation and impairment(3,278) (1,287) (260) (6,493) (11,318)
-
Net book value
1,60880651,5863,339
Intellectual
Property
Customer
relationships
GoodwillTotal
Carrying amount of investments in other entities
15

ENPRISE GROUP LIMITED__
INTERIM REPORT__
NOTES TO THE FINANCIAL STATEMENTS
for the six months ended 31 December 2025
9INTANGIBLE ASSETS (CONTINUED)
Software
$'000$'000$'000$'000$'000
Period ended 31 December 2025 (unaudited)
Opening net book value amount1,608 80 65 1,586 3,339
Additions281 - - - 281
Exchange differences127 - - - 127
Amortisation charge(44) (9) (32) - (85)
Closing net book value
1,97271331,5863,662
As at 31 December 2025 (unaudited)
Cost5,294 1,367 325 8,079 15,065
Accumulated amortisation and impairment(3,322) (1,296) (292) (6,493) (11,403)
-
Net book value
1,97271331,5863,662
Carrying amount
$'000
Software - ITQuoter1,911
31 Dec 202531 Dec 202430 June 2025
$'000$'000$'000
Kilimanjaro Consulting - New Zealand
1,227 1,227 1,227
Recipe Marketing - New Zealand
359 405 359
- -
1,5861,6321,586
(a)Impairment Testing - Kilimanjaro
Key assumptionValueBasis for determining value assigned to key assumptions
Growth rate3.06%
Weighted average cost of capital (WACC)11.03%
Growth rate3.06%Decrease by 3%No impairment loss
Weighted average cost of capital (WACC)11.03%Increase by 1%No impairment loss
Determined primarily based on external sources of information,
adjusted for entity specific risks.
Determined based on historical trend growth and management's
future expectations
The discounted cash flow valuation used to determine the CGU's recoverable amount in the current period uses 5 years of projected
cash flows and a terminal value.
Sensitivity analysis
Current
value
Reasonably
possible change
Impact of change
Customer
relationships
Intellectual
Property
Significant intangible assets held are as follows:
The carrying amounts of goodwill allocated to the cash
generating units are outlined below:
An assessment of the fair value of the Kilimanjaro cash generating unit (CGU's) was conducted at 30 June 2025, for the purpose of
considering the fair value less cost of disposal of the CGU. The Level 3 fair value estimate was greater than the carrying value of
the Kilimanjaro cash generating unit. Kilimanjaro is assessed from the current year as a single CGU as it is under a single
management structure and assessed by the Board on that basis, in previous periods New Zealand and Australia were independently
assessed. Information pertaining to the CGU is presented below.
The details below summarises the quantitative information about the significant unobservable inputs used in this level 3 fair value
measurement.
The valuation technique has been adjusted from a earnings multiple valuation methodology in the years up to and including 30 June
2022, to a discounted cash flow methodology in the following years. This revised methodology was adopted to more accurately
capture expected future changes in the various revenue streams of the entity, and their divergent impact on profitability.
GoodwillTotal
16

ENPRISE GROUP LIMITED__
INTERIM REPORT__
NOTES TO THE FINANCIAL STATEMENTS
for the six months ended 31 December 2025
9INTANGIBLE ASSETS (CONTINUED)
(b)Impairment Testing - iSell Pty Limited
Range of inputs
30 June 202530 June 2024
Recurring revenue ($'000)1,454 1,178
Non recurring revenue ($'000)230 197
Recurring revenue multiple3.45x2.02x
1.00x1.00x
10CASH AND CASH EQUIVALENTS / BORROWINGS
31 Dec 202531 Dec 202430 June 2025
$'000$'000$'000
Cash on hand and at bank
- -
Cash on hand and at bank
2,273 1,405 1,588
Total Cash on hand and at bank
2,273 1,405 1,588
Current borrowings
Bank overdraft
(864) (332) (651)
- -
Bank borrowings
(221) (430) (442)
Other borrowings
- (43) -
Current borrowing
(1,085) (805) (1,093)
Non-current borrowings
Bank borrowings - non current
- (221) -
Other borrowings - non current
- - -
Non-current borrowings
- (221) -
Net cash and borrowings
1,188379495
31 Dec 202531 Dec 202430 June 2025
$'000$'000$'000
Cash and cash equivalents
Cash on hand and at bank
2,273 1,405 1,588
Bank overdraft
(864) (332) (651)
Total Cash and cash equivalents
1,409 1,073 937
31 Dec 202531 Dec 202430 June 2025
$'000$'000$'000
Bank borrowings
Bank loan
(221) (651) (442)
Bank overdraft
(864) (332) (651)
Total bank borrowings
(1,085) (983) (1,093)
An independent assessment of the fair value of the iSell cash generating unit (CGU's) was conducted at 30 June 2023, for the
purpose of considering the fair value less cost of disposal of the CGU. The Level 2 fair value estimate was lower than the carrying
value of the cash generating unit.
The table below summarises the quantitative information about the significant unobservable inputs used in this level 3 fair value
measurement.
Relationship of unobservable inputs to fair value
Increasing recurring revenue, non recurring revenue, the
recurring revenue multiple, and the non recurring revenue
multiple each by 5% would increase fair value by $0.26 million
(last year: 5%; $0.26 million). Lowering each of the above inputs
by 5% would decrease fair value by $0.26 million (last year: 5%;
$0.25 million).
Non recurring revenue
multiple
Unobservable inputs
17

ENPRISE GROUP LIMITED__
INTERIM REPORT__
NOTES TO THE FINANCIAL STATEMENTS
for the six months ended 31 December 2025
10CASH AND CASH EQUIVALENTS / BORROWINGS (CONTINUED)
(a)Summary of borrowing arrangements
- An overdraft facility of $1,000,000 at an interest rate of 9.26% at 31 December 2025
11RELATED PARTY TRANSACTIONS
(a)Interest in other Entities
(b)Ultimate Parent
The ultimate parent entity and controlling party is Enprise Group Limited. The Parent is domiciled in New Zealand.
(c)Transactions with Related Parties
During the period, the Group entered into the following trading transactions with related parties.
Sale of services Purchase of services
Name of Entity
31 Dec 202531 Dec 202430 June 202531 Dec 202531 Dec 202430 June 2025
6 mths $'0006 mths $'00012 mths $'0006 mths $'0006 mths $'00012 mths $'000
Vadacom Limited*19 21 42 - - -
Next Telecom*- - - 21 15 29
Datagate Innovation Limited- - - - - -
19 21 42 21 15 29
* Vadacom Limited and Next Telecom Limited are subsidiaries of Vadacom Holdings Limited
(d)Outstanding balances arising from sales/purchases of goods and services
The following balances are outstanding at the end of the reporting period in relation to transactions with related parties.
Amounts owed by related partiesAmounts owed to related parties
Name of Entity
31 Dec 202531 Dec 202430 June 202531 Dec 202531 Dec 202430 June 2025
$'000$'000$'000$'000$'000$'000
Next Telecom Limited- - - 4 2 3
Vadacom Limited5 4 4 - - -
Ridgway Investments ****- - - 18 2 7
The Sales Factory Limited ***- - - 10 4 4
Stone Consulting Limited **- - - 3 - 6
ExpectX Pty Ltd*****- - - - - 33
Nightingale Partners *- 1 - 14 - -
5 5 4 49 8 53
* Lindsay Phillips
*** Nicholas Paul
**** Aaron Ridgway
***** Richard Beresford
The Group's principal subsidiaries are set out in note 1(d). Unless otherwise stated, they have share capital consisting solely of
ordinary shares that are held directly by the Group. The country of incorporation or registration is also their principal place of
business.
The Bank of New Zealand (BNZ) has provided the following facilities to Enprise Group Limited:
- A commercial loan of $221,090 of which $nil is available to redraw at 31 December 2025. The loan matures on 24 April 2026
and requires quarterly principal payments of $110,570. The bank's debt is secured by PPSR over all the assets of Enprise Group
Limited, Kilimanjaro Consulting Pty Limited and Kilimanjaro Consulting Limited.
** Susie Stone
- The interest rate at 31 December 2025 is 6.93%.
18

ENPRISE GROUP LIMITED__
INTERIM REPORT__
NOTES TO THE FINANCIAL STATEMENTS
for the six months ended 31 December 2025
12CASH FLOW RECONCILIATION
31 Dec 202531 Dec 202430 June 2025
6 mths $'0006 mths $'00012 mths $'000
Profit/(loss) for the period
(655) 136 (129)
Adjustments for:
Depreciation on property plant and equipment
90 67 158
Depreciation clawback
- - (11)
Depreciation on right-of-use assets
275 266 530
Amortisation on intangible assets
87 194 320
Net loss/(gain) on foreign exchange2 1 (43)
Impairment of intangible assets- -
Share of loss from equity accounted investments25 (134) (88)
Movement in deferred tax(128) (15) (226)
Movements in working capital
(Increase)/decrease in trade and other receivable
717 446 (419)
(Increase)/decrease in contract assets
(53) 14 (47)
(Increase)/decrease in income taxes receivable- - 86
Increase/(decrease) in trade and other payables24 (500) 212
Increase/(decrease) in provisions101 84 302
Increase/(decrease) in contract liabilities138 (308) 37
- -
Net cash inflow from operating activities623251682
- - -
13CONTINGENT LIABILITIES
There were no other material contingent liabilities or assets at balance date (December 2024: nil, June 2025: nil).
14SUBSEQUENT EVENTS AFTER BALANCE DATE
The Group has evaluated subsequent events up to the date of approval of this financial report and has determined that there are no
further material subsequent events that require disclosure or adjustment to the financial statements at 31 December 2025.
Reconciliation of net profit to net cash flows from operations:
Cash flows are included in the statement of cash flows on a gross basis and includes the GST component of cash flows arising from
investing and financing activities, which is recoverable from, or payable to, the taxation authority and is classified as part of operating
cash flows.
On 14 January 2026 Enprise Group Limited allotted the remaining 275,228 shortfall shares in the rights issue at the same price
resulting in a total additional capital raised of $123,853.
19

---

Enprise Group Limited
Results announcement
(for Equity Security issuer/Equity and Debt Security issuer)
Updated as at June 2023

Please do not amend or delete individual rows. As this template relates to prescribed content, changes to content
should only be made where it is clearly indicated that this is permitted, otherwise, if an Issuer considers a particular
element does not apply, mark the row as N/A, Any other changes to this prescribed form must first be approved by
NZX as required under NZX Listing Rule 3.26.1.
Results for announcement to the market
Name of issuer Enprise Group Limited
Reporting Period 6 months to 31 December 2025
Previous Reporting Period 6 months to 31 December 2024
Currency New Zealand Dollars
Amount (000s) Percentage change
Revenue from continuing
operations
$ 12,954 3.5 %
Total Revenue $ 12,954 3.5 %
Net profit/(loss) from
continuing operations
$ (783) (747.1) %
Total net profit/(loss) $ (655) (581.6) %
Interim/Final Dividend
Amount per Quoted Equity
Security
No dividend is proposed
Imputed amount per Quoted
Equity Security
Not Applicable
Record Date Not Applicable
Dividend Payment Date Not Applicable
Current period Prior comparable period
Net tangible assets per
Quoted Equity Security
$ (0.03) $ 0.01
A brief explanation of any of
the figures above necessary
to enable the figures to be
understood
Not Applicable
Authority for this announcement
Name of person

authorised
to make this announcement
Elliot Cooper
Contact person for this
announcement
Elliot Cooper
Contact phone number 0275615501
Contact email address elliotc@enprisegroup.com
Date of release through MAP

27 February 2026

Unaudited financial statements accompany this announcement.