Locate Technologies FY26 Full Year Results

Locate Technologies Limited | NZX: LOC | Company number 9371162

RESULTS ANNOUNCEMENT

For the year ended 30 June 2026

Results for announcement to the market

Name of issuer Locate Technologies Limited
Reporting Period 12 months to 30 June 2026
Previous Reporting Period 12 months to 30 June 2025
Currency New Zealand Dollars

Amount (000s)

Percentage change

Revenue from continuing
operations
$7,087 +8%
Total Revenue $7,087 +8%
Net profit/(loss) from continuing
operations
($3,533) -77%
Total net profit/(loss) ($3,533) -77%
Interim/Final Dividend

Amount per Quoted Equity
Security
Nil
Imputed amount per Quoted
Equity Security
Nil
Record Date Not Applicable
Dividend Payment Date Not Applicable

Current period

Prior comparable period

Net tangible assets per Quoted
Equity Security
($0.0119) ($0.0065)
A brief explanation of any of the
figures above necessary to enable
the figures to be understood
The financial information in this announcement is unaudited. The
audit of the financial statements for the year ended 30 June 2026 is
in progress and had not been completed at the date of this
announcement. The Company does not currently expect the audit
report to be subject to qualification. Audited financial statements will
be released with the Company’s Annual Report on or before 30
September 2026 in accordance with NZX Listing Rule 3.6.1.
No dividend was declared or paid for the year ended 30 June 2026.
Net tangible assets per Quoted Equity Security are negative in both
the current and prior comparable periods.
The attached review of operations and unaudited consolidated
financial statements, including the Directors’ going concern
assessment at note 3, provide information and commentary to
explain the financial performance of the Group for the 12 month
period ended 30 June 2026.
Authority for this announcement

Name of person authorised to
make this announcement
Steve Orenstein (Chief Executive Officer)
Contact person for this
announcement
Steve Orenstein (Chief Executive Officer)
Contact phone number +61 438 513 888
Contact email address investors@locatetech.nz
Date of release through MAP 28 August 2026
Unaudited financial statements accompany this announcement.

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Locate Technologies Limited | NZX: LOC | Company number 937 11 62

ANNUAL FINANCIAL STATEMENTS

For the year ended 30 June 2026

Presented in New Zealand dollars (NZD)

The audit of these financial statements is in the process of being finalised. Audited financial statements will be released with the
Company’s Annual Report on or before 30 September 2026 in accordance with NZX Listing Rule 3.6.1.
Contents
Consolidated statement of profit or loss and other comprehensive income
Consolidated statement of financial position
Consolidated statement of changes in equity
Consolidated statement of cash flows
Authorisation for issue
Note 1 — Basis of preparation
Note 2 — Going concern
Note 3 — Segment reporting
Company directory

Locate Technologies Limited | Financial statements, 30 June 2026 | Unaudited | Page 1

Consolidated statement of profit or loss and other comprehensive income
For the year ended 30 June 2026


Note

Jun 2026 NZ$

Jun 2025 NZ$

Revenue 3 7,086,890 6,571,376
Other income

46,555 103,589
Employee benefits expense

(3,814,306) (4,091,296)
Depreciation, amortisation and impairment

(1,291,763) (1,182,626)
Other expenses

(4,783,068) (2,808,754)
Operating loss

(2,755,692) (1,407,712)
Finance income

3,819 32,078
Finance costs

(780,948) (615,778)
Loss before income tax

(3,532,821) (1,991,412)
Income tax (expense) / benefit

— (41)
Loss for the year

(3,532,821) (1,991,453)
Other comprehensive income

Foreign currency translation differences

109,640 —
Bitcoin revaluation

(20,528) 19,420
Total comprehensive loss for the year

(3,443,709) (1,972,033)
Earnings per share (cents)

Basic loss per share

(1.29) (1.01)
Diluted loss per share

(1.29) (1.01)
These financial statements should be read in conjunction with the accompanying notes.

Locate Technologies Limited | Financial statements, 30 June 2026 | Unaudited | Page 2

Consolidated statement of financial position
As at 30 June 2026


Note

Jun 2026 NZ$

Jun 2025 NZ$

Current assets

Cash and cash equivalents

1,165,791 1,945,763
Trade and other receivables

737,439 473,902
Bitcoin

1,266,790 1,770,215
Inventory

26,010 25,734
Other current assets

182,650 157,613
Total current assets

3,378,679 4,373,227
Non-current assets

Property, plant and equipment

107,660 132,796
Intangible assets and goodwill

3,634,868 3,256,286
Other non-current assets

55,550 —
Total non-current assets

3,798,078 3,389,083
Total assets

7,176,758 7,762,310
Current liabilities

Trade and other payables

1,686,308 1,226,644
Borrowings 2 4,739,041 43,082
Other current liabilities

18,117 84,353
Employee benefits

382,632 304,260
Total current liabilities

6,826,097 1,658,339
Non-current liabilities

Borrowings 2 15,933 3,987,610
Employee benefits

70,789 36,820
Other non-current liabilities

289,884 331,161
Total non-current liabilities

376,606 4,355,591
Total liabilities

7,202,702 6,013,930
Net liabilities

(25,945) 1,748,380
Equity

Issued capital

27,564,412 25,330,124
Reserves

2,311,856 2,775,607
Foreign currency translation reserve

109,640 —
Accumulated losses

(30,011,853) (26,357,352)
Total equity

(25,945) 1,748,380


Jun 2026

Jun 2025

Net tangible assets per share (cents per share – non-GAAP
measure)
(1.19) (0.65)
Net tangible assets per share is net assets less intangible assets and goodwill, divided by the ordinary shares on issue at the reporting date. These
financial statements should be read in conjunction with the accompanying notes.


Locate Technologies Limited | Financial statements, 30 June 2026 | Unaudited | Page 3

Consolidated statement of changes in equity
For the year ended 30 June 2026

Year ended 30 June 2026

Issued capital

Reserves

Accumulated losses

Total

Balance at the start of the year 25,330,124 2,775,607 (26,357,352) 1,748,380
Other movements in
accumulated losses
— — (121,680) (121,680)
Loss for the year — — (3,532,821) (3,532,821)
Foreign currency translation
differences
— 109,640 — 109,640
Bitcoin revaluation — (20,528) — (20,528)
Total comprehensive income
for the year
— 89,112 (3,532,821) (3,443,709)
Transactions with owners in
their capacity as owners

Share based payments — 197,668 — 197,668
Cancellation of options — (640,890) — (640,890)
Issue of ordinary shares 2,763,065 — — 2,763,065
Issue of options — — — —
Capital raising costs (513,312) — — (513,312)
On-market buyback (15,465) — — (15,465)
Balance at the end of the year 27,564,412 2,421,497 (30,011,853) (25,945)
Year ended 30 June 2025

Issued capital

Reserves

Accumulated losses

Total

Balance at 1 July 2024 22,772,454 2,732,403 (24,977,999) 526,858
Loss for the year — — (1,991,453) (1,991,453)
Other comprehensive income — 19,420 — 19,420
Total comprehensive income
for the year
— 19,420 (1,991,453) (1,972,033)
Transactions with owners in
their capacity as owners

Foreign currency translation
reserve
(415,817) (45,044) 429,868 (30,993)
Share-based payments — 196,779 — 196,779
Cancellation of options — (182,233) 182,233 —
Issue of ordinary shares 3,184,175 — — 3,184,175
Issue of options (54,282) 54,282 — —
Capital raising costs (156,407) — — (156,407)
Balance at 30 June 2025 25,330,124 2,775,607 (26,357,352) 1,748,380
These financial statements should be read in conjunction with the accompanying notes.

Locate Technologies Limited | Financial statements, 30 June 2026 | Unaudited | Page 4

Consolidated statement of cash flows
For the year ended 30 June 2026


Note

Jun 2026 NZ$

Jun 2025 NZ$

Cash flows from operating activities

Receipts from customers (inclusive of GST)

7,600,045 7,387,749
Payments to suppliers and employees (inclusive of GST)

(6,695,388) (7,180,623)
Interest received

3,732 32,078
Finance costs paid

(572,939) (528,250)
Receipt from grants

— 103,589
Income taxes paid

— (41)
Net cash from / (used in) operating activities

335,449 (185,498)
Cash flows from investing activities

Purchase of Bitcoin

(466,740) (1,783,346)
Payment for intangibles

(1,199,542) (1,249,170)
Purchase of property, plant and equipment

(10,614) (32,481)
Net cash used in investing activities

(1,676,897) (3,064,997)
Cash flows from financing activities

Proceeds from issue of shares (net of costs)

580,311 3,005,837
Proceeds from / (repayment of) borrowings

(206,728) (25,296)
Payments for share buy-back of ordinary shares

(15,008) —
Net cash from financing activities

358,574 2,980,540
Net increase / (decrease) in cash

(982,873) (269,954)
Cash and cash equivalents at beginning of year

1,945,763 2,210,843
Effect of exchange rate changes on cash

202,901 4,874
Cash and cash equivalents at end of year

1,165,791 1,945,763
These financial statements should be read in conjunction with the accompanying notes.
Authorisation for issue
The Board of Directors authorised these consolidated financial statements for issue on 27 August 2026. They are signed
on behalf of the Board by:


Stephen Orenstein
Director

Date: 27 August 2026


Drew Kelton
Director

Date: 27 August 2026



Locate Technologies Limited | Financial statements, 30 June 2026 | Unaudited | Page 5

Notes to the consolidated financial statements
Note 1 — Basis of preparation
Reporting entity
Locate Technologies Limited (the Company) is a company incorporated and domiciled in New Zealand and listed on the
NZX Main Board. These consolidated financial statements comprise the Company and its subsidiaries (together, the
Group).
Statement of compliance
These consolidated financial statements have been prepared in accordance with New Zealand equivalents to International
Financial Reporting Standards (NZ IFRS) as issued by the External Reporting Board.
The financial information in this document is unaudited. The audit of the financial statements for the year ended 30 June
2026 is in the process of being finalised. This document does not include all of the notes ordinarily included in a full set of
annual financial statements. The complete audited financial statements, including all notes, will be released with the
Company’s Annual Report on or before 30 September 2026 in accordance with NZX Listing Rule 3.6.1.
Basis of measurement
The financial statements have been prepared on the historical cost basis, except for Bitcoin and certain financial
instruments which are measured at fair value.
Presentation currency
These financial statements are presented in New Zealand dollars (NZD), which is the presentation currency of the Group.
All amounts are stated in New Zealand dollars unless otherwise indicated.
Comparative information
Comparative information is presented for the year ended 30 June 2025 (the prior corresponding period).
Going concern
Refer to note 2.
Material accounting policies
The material accounting policies applied in the preparation of these financial statements are consistent with those applied
in the prior corresponding period. There has been no material change in accounting policies during the year. The material
accounting policies will be set out in full in the Annual Report.

Locate Technologies Limited | Financial statements, 30 June 2026 | Unaudited | Page 6

Note 2 — Going concern
The financial statements have been prepared on a going concern basis, which assumes continuity of normal business
activities and the realisation of assets and settlement of liabilities in the ordinary course of business.
For the year ended 30 June 2026 the Group recorded a loss after tax of $3,532,821 (2025: $1,991,453), net cash inflows
from operating activities of $335,449 (2025: net outflows of $185,498), a net current asset deficiency of $3,447,417
(2025: a net current asset position of $2,714,888) and net liabilities of $25,945 (2025: net assets of $1,748,380). All
amounts are presented in New Zealand dollars unless otherwise stated.
The Pure facility
The Group’s senior secured facility with Pure Asset Management (Pure) has principal owing of A$4,000,000 at a fixed rate
of 9.95% per annum and terminates on 7 November 2026. As the termination date falls within twelve months of balance
date, the facility is classified as a current liability at 30 June 2026, with a carrying amount of $4,725,503. Excluding the
facility from current liabilities, the Group had a net current asset position of $1,278,085.
The minimum Cash Balance and minimum Bitcoin Balance covenants were met throughout the year, and no Reporting
Event, Review Event or Event of Default was subsisting at balance date. The Reporting Event EBITDA hurdle was not met
for the quarter ended 30 September 2025, and Pure confirmed in writing on 6 October 2025 that it had waived its rights
in relation to that breach. The covenants, the variation agreed on 14 August 2025 and that waiver will be set out in full in
the Annual Report. The Group’s forecasts indicate that the covenants will continue to be met over the forecast period.
Refinancing
Pure has confirmed in writing to the Company, on a non-binding basis, its intention to convert A$1,000,000 of the
principal outstanding into a convertible note, with the remaining A$3,000,000 to be refinanced. The terms of the
proposed convertible note have not been finalised and remain subject to documentation and, where required, approval
under the NZX Listing Rules.
The Company and its advisers are in active discussion with a number of financial institutions and credit funds regarding
refinancing of the balance of the facility. No binding agreement had been entered into at the date of this report.
As with any refinancing, final terms may differ from those currently anticipated, and refinancing may not be completed, or
may not be available on acceptable terms, before the facility terminates on 7 November 2026.
Directors’ assessment
The Directors have prepared a cash flow forecast for the period to June 2027, approved by the Board on 27th August,
2026. The forecast indicates the Group has sufficient cash on hand and cash flows from operations to meet its debts as
they fall due over that period, provided the Pure facility is refinanced or restructured on or before its termination date.
In concluding that the going concern basis remains appropriate, the Directors have taken into account:
• the Board approved cash flow forecast referred to above, together with sensitivity analysis modelling
• the improvement in operating cash flows during the year, from net outflows of $185,498 in the prior year to net inflows of
$335,449;
• cash and cash equivalents at the date of this report of A$1.17m;
• the fair value of Bitcoin held at the date of this report of NZD$1,630,821, captures the Bitcoin holding; the facility covenants
require a minimum Bitcoin Balance of A$500,000, and which the Directors would realise, in whole or in part, if required to
meet obligations as they fall due;
• the Company’s established At the Market facility, under which capital may be raised progressively through the equity market
as required, subject to market conditions, available capacity under the NZX Listing Rules and prevailing trading liquidity;
• operating cost reductions within the control of management which the Directors are able to implement if forecast revenue
is not achieved
The Group’s ability to continue as a going concern is dependent on:
• successfully refinancing or restructuring the Pure facility before it terminates on 7 November 2026;
• achieving forecast revenue growth, in particular securing new Enterprise customers for Locate2u, whilst stabilising the
recent revenue declines in Zoom2u;
• managing and controlling operating costs and generating positive cash flows from operations; and
• continuing to meet its covenants under the Pure facility.
Locate Technologies Limited | Financial statements, 30 June 2026 | Unaudited | Page 7

Material uncertainty
The matters set out above, in particular the requirement to refinance or restructure the Pure facility before 7
November 2026 in circumstances where no binding agreement had been entered into at the date of this report,
indicate the existence of a material uncertainty that may cast significant doubt on the Group’s ability to continue as a
going concern and therefore to realise its assets and discharge its liabilities in the normal course of business.
Conclusion
Having considered the matters above, the Directors have a reasonable expectation that the Group will secure the
necessary refinancing and will have adequate resources to continue in operational existence for at least twelve months
from the date these financial statements are authorised for issue. Accordingly, the Directors consider it appropriate to
prepare the financial statements on a going concern basis.
The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset
amounts, or to the amounts and classification of liabilities, that might be necessary should the Group be unable to
continue as a going concern.

Locate Technologies Limited | Financial statements, 30 June 2026 | Unaudited | Page 8

Note 3 — Segment reporting
The consolidated entity derives revenue from contracts with its customers through its two operating segments:
• Zoom2u and 2u Enterprises; and
• Locate2u.
Zoom2u and 2u Enterprises provide delivery and tracking services to customers through an internally developed platform
which allows customers to arrange the delivery of items, allocated to the closest driver. Fees earned include a fixed
booking fee charged to some customers and a platform fee charged to drivers. The segment also includes other revenue
from the Shred2u business, ad hoc web development services and bespoke distribution operations.
Locate2u derives most of its revenue from customers paying a monthly subscription fee for access to the Locate2u SaaS
product, which allows them to manage their own portfolio of drivers and optimise delivery routes.
These operating segments are based on the internal reports reviewed and used by the Board of Directors, identified as
the Chief Operating Decision Makers (CODM), in assessing performance and determining the allocation of resources.
There is no aggregation of operating segments. The CODM reviews revenue and net profit / (loss) before tax. The CODM
does not regularly review segment assets and segment liabilities; refer to the statement of financial position for Group
assets and liabilities.
Corporate overheads that are not allocated to a reportable segment, being group premises, insurance, statutory, listing
and professional costs, and the costs of the listed parent, are reported as unallocated corporate expenses. Finance income
and finance costs are managed centrally and are reported below segment result as net finance costs.
Shred2u is reported within the Zoom2u and 2u Enterprises segment and is not a reportable segment in its own right.
Major customers
No single external customer accounted for 10% or more of the Group’s revenue for the year ended 30 June 2026.
Operating segment information

Zoom2u and 2u
Enterprises Jun
2026

Jun 2025

Locate2u Jun
2026

Jun 2025

Total Jun 2026

Revenue from external
customers
3,091,928 3,582,815 3,994,962 2,988,561 7,086,890
Segment result 1,271,240 1,557,550 (132,908) (1,167,863) 1,138,332


Jun 2026 NZ$

Jun 2025 NZ$

Total segment result 1,138,332 389,688
Unallocated corporate expenses (3,894,024) (1,797,400)
Net finance costs (777,130) (583,700)
Net loss before tax (3,532,821) (1,991,412)
Revenue from external customers by country
Revenue from external customers is attributed to the country from which it is billed, which is the basis applied in the prior
year. The Company is incorporated and domiciled in New Zealand; its operating businesses are conducted through its
Australian subsidiaries and, for part of the Locate2u business, through Locate2u USA Inc.

Jun 2026 NZ$

Jun 2025 NZ$

New Zealand — —
Australia 7,038,988 6,509,593
United States 47,902 61,782
Total revenue from external customers 7,086,890 6,571,376

Locate Technologies Limited | Financial statements, 30 June 2026 | Unaudited | Page 9

Company directory
As at 30 June 2026

Issuer Locate Technologies Limited
Ticker NZX: LOC
Company number 937 11 62
Registered office
Level 17, PwC Tower, 15 Customs Street West,
Auckland, 1140, NZ

Balance date 30 June
Presentation currency New Zealand dollars (NZD)
Directors Drew Kelton (Non-Executive Chairman, Independent)

Stephen Orenstein (Founder & Managing Director, Executive)

Michael Rosenbaum (Non-Executive Director, Independent)

Brett O’Reilly (Non-Executive Director, Independent)

Janine Grainger (Non-Executive Director, Independent)
Auditor Grant Thornton, L4, 152 Fanshawe Street, Auckland Central, Auckland, 1010, NZ
Share registry MUFG Corporate Markets
Bitcoin custodian Zodia Custody
Investor enquiries investors@locatetech.nz

Locate Technologies Limited | Financial statements, 30 June 2026 | Unaudited | Page 10

Audit Trail
Document Details
TitleLOC-Financial-Statements-Jun-2026-Preliminary results_updated.pdf
File NameLOC-Financial-Statements-Jun-2026-Preliminary results_updated.pdf
Document ID835cf474c26842b4bed7009e15e6614a
Fingerprint254dd230cdf1f28bafe521d93511a5a3
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Document History
Document
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(maxine.bahatan@zoom2u.com)
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06:44PM
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NZX : LOC
FOR THE YEAR ENDED 30 JUNE 2026
REVIEW OF
OPERATIONS
2026
Released to the NZX with the results announcement and the
consolidated financial statements for the year ended 30 June 2026.
LOCATE TECHNOLOGIES LIMITEDCOMPANY NUMBER 937 11 62PRESENTED IN NZ$

RESULTS SUMMARY
FINANCIAL HIGHLIGHTS
Continuing operations, compared with the prior corresponding period, the year ended 30
June 2025. All amounts in New Zealand dollars.
GROUP REVENUE
$7.09M
▲ 7.8% on PCP
LOCATE2U REVENUE
$3.99M
▲ 33.7% on PCP
NORMALISED EBITDA¹
$0.51M
FY25: −$0.10M
EBITDA¹
−$1.46M
FY25: −$0.23M
LOSS AFTER TAX
−$3.53M
FY25: −$1.99M
LOCATE2U SEGMENT RESULT
−$0.13M
FY25: −$1.17M
CASH AND EQUIVALENTS
$1.17M
At 30 June 2026
BITCOIN TREASURY
$1.27M
Carrying amount, fair value
NZX MAIN BOARD
Listed
Redomicile to NZ completed
1 EBITDA and normalised EBITDA are non-GAAP measures. They are not defined by NZ IFRS, are not audited, and should not be viewed in
isolation from or as a substitute for the reported result. Both are reconciled to loss after tax on the financial performance page of this
review.
LOCATE TECHNOLOGIES · REVIEW OF OPERATIONS 2026FINANCIAL HIGHLIGHTS · 02

PRINCIPAL ACTIVITIES
WHAT THE GROUP DOES
During the year ended 30 June 2026, the principal continuing activities of the consolidated
entity consisted of the following, alongside Bitcoin held as a treasury asset.
AI LOGISTICS PLATFORM
Locate2u
An AI-powered delivery and field service management platform
providing route optimisation, live delivery tracking and proof of delivery
to delivery and service businesses, with AI features deployed in the
product for customers.
$3.99M
FY26 REVENUE ▲ 33.7%
MARKETPLACE
Zoom2u
A delivery technology platform connecting customers with drivers for
fast delivery services. Revenue is recognised on a net basis, reflecting
the Group's role as agent in arranging deliveries between customers
and independent courier drivers.
$1.27M
FY26 SEGMENT PROFIT
SERVICES
Shred2u
On-demand and scheduled secure document destruction services,
operated through 2u Enterprises and reported within the Zoom2u
segment.
REPORTED WITHIN
ZOOM2U SEGMENT
₿
CAPITAL STRATEGY
Bitcoin treasury
Alongside its operating businesses the Group holds Bitcoin as a
treasury asset, measured at fair value and held in custody with Zodia
Custody.
$1.27M
CARRYING AMOUNT
During the year the Group completed its redomicile to New Zealand and the quotation of its ordinary shares on
the NZX Main Board, and reorganised the group under a New Zealand parent company.
LOCATE TECHNOLOGIES · REVIEW OF OPERATIONS 2026PRINCIPAL ACTIVITIES · 03

FINANCIALS
FINANCIAL PERFORMANCE
The loss after income tax for the Group for the year ended 30 June 2026 amounted to NZ$3,532,821 (30 June
2025: NZ$1,991,453). Group revenue for the year was NZ$7,086,890, compared with NZ$6,571,376 in the prior
corresponding period, growth of approximately 7.8%. EBITDA for the year was a loss of NZ$1,463,929 (prior year: a
loss of NZ$225,086).
Employee benefits expense for the year was NZ$3,814,306, compared with NZ$4,091,296 in the prior
corresponding period. Other expenses were NZ$4,783,068 (prior corresponding period: NZ$2,808,754). The
movement principally reflects two items that did not arise in the prior corresponding period, being the unrealised
Bitcoin revaluation loss and the costs of the NZX listing and the redomicile, partly offset by lower software
subscription and marketing costs.
Depreciation, amortisation and impairment was NZ$1,291,763, compared with NZ$1,182,626 in the prior
corresponding period. Finance costs were NZ$780,948 (prior corresponding period: NZ$615,778), and finance
income was NZ$3,819 (prior corresponding period: NZ$32,078).
RECONCILIATION OF LOSS AFTER TAX TO EBITDA AND NORMALISED EBITDA¹
NZ$FY26FY25
Loss after tax (as reported)(3,532,821)(1,991,453)
Add: income tax expense / (benefit)–41
Add: finance costs780,948615,778
Less: finance income(3,819)(32,078)
Add: depreciation, amortisation and impairment1,291,7631,182,626
EBITDA(1,463,929)(225,086)
Add: unrealised Bitcoin revaluation loss1,144,768–
Add: NZX listing and redomicile transaction costs659,176–
Add / (less): other normalisation adjustments167,006127,405
Normalised EBITDA507,022(97,681)
1 EBITDA is a non-IFRS measure that is presented to provide an understanding of the performance of the Group's operations. In the opinion
of the Directors, the Group's EBITDA reflects the results generated from ongoing operating activities. Normalised EBITDA adjusts EBITDA
for non-recurring items and non-cash fair value movements that are not reflective of the Group's underlying operating performance. The
non-IFRS financial information is unaudited.
LOCATE TECHNOLOGIES · REVIEW OF OPERATIONS 2026FINANCIAL PERFORMANCE · 04

OPERATIONS REVIEW
SEGMENT PERFORMANCE
AI LOGISTICS PLATFORM
Locate2u
$3.99MFY26 REVENUE
FY25 REVENUE
$2.99M
REVENUE GROWTH
▲ 33.7%
FY26 SEGMENT RESULT
−$132,908
FY25 SEGMENT RESULT
−$1,167,863
Locate2u recorded revenue for the year ended 30 June 2026 of NZ$3,994,962, representing growth of
approximately 33.7% over the prior corresponding period revenue of NZ$2,988,561. The movement was
driven by higher subscription revenue across the Locate2u customer base. The segment recorded a
result of a loss of NZ$132,908, compared with a loss of NZ$1,167,863 in the prior corresponding period.
MARKETPLACE AND SERVICES
Zoom2u, 2u Enterprises and
Shred2u
$3.09MFY26 REVENUE
FY25 REVENUE
$3.58M
FY26 SEGMENT RESULT
$1,271,240
FY25 SEGMENT RESULT
$1,557,550
REVENUE BASIS
Net, as agent
The revenue of the Zoom2u business segment, which includes the Zoom2u platform, 2u Enterprises and
Shred2u, for the year ended 30 June 2026 was NZ$3,091,928, compared with NZ$3,582,815 in the prior
corresponding period. The Zoom2u platform generated lower revenue than in the prior corresponding
period.
Revenue is recognised on a net basis, reflecting the Group's role as agent in arranging deliveries
between customers and independent courier drivers, so the revenue reported for this segment is not the
total transaction value processed through the platform. The segment delivered a segment result of a
profit of NZ$1,271,240 (prior corresponding period: a profit of NZ$1,557,550).
LOCATE TECHNOLOGIES · REVIEW OF OPERATIONS 2026SEGMENT PERFORMANCE · 05

FINANCIALS
FINANCIAL POSITION
AND FUNDING
CASH AND EQUIVALENTS
$1.17M
FY25: $1.95M
BITCOIN AT FAIR VALUE
$1.27M
FY25: $1.77M
FACILITY TERMINATION
7 Nov 2026
Current liability at balance date
As at 30 June 2026, the Group held cash and cash equivalents of NZ$1,165,791 (30 June 2025: NZ$1,945,763)
and Bitcoin with a carrying amount of NZ$1,266,790 (30 June 2025: NZ$1,770,215). The Bitcoin holding is held in
custody with Zodia Custody and is measured at fair value. Net cash inflows from operating activities for the year
were NZ$335,449 (30 June 2025: net outflows of NZ$185,498).
The Group's senior secured facility with Pure Asset Management has principal owing of A$4,000,000 at a fixed rate
of 9.95% per annum and terminates on 7 November 2026. As the termination date falls within twelve months of
balance date, the facility is presented as a current liability at 30 June 2026, with a carrying amount of
NZ$4,725,503.
Pure has confirmed to the Company, on a non-binding basis, its intention to convert A$1,000,000 of the principal
outstanding into a convertible note, with the remaining A$3,000,000 to be refinanced. The terms of the proposed
convertible note have not been finalised and remain subject to documentation and, where required, approval under
the NZX Listing Rules. No binding agreement had been entered into at the date of this announcement.
GOING CONCERN
The Directors' going concern assessment, including the material uncertainty arising from the
requirement to refinance or restructure the facility, is set out in note 2 to the financial statements
accompanying this announcement.
LOCATE TECHNOLOGIES · REVIEW OF OPERATIONS 2026FINANCIAL POSITION AND FUNDING · 06

THE YEAR AHEAD
OUTLOOK
The Directors' focus for the year ahead is the continued scaling of Locate2u's recurring software
revenues, the optimisation of the Zoom2u business, and disciplined treasury and capital
management.
01
Scale Locate2u's recurring software revenues
Continue the subscription growth recorded in FY26 across the Locate2u customer base.
02
Deploy enterprise customers
Onboard and scale enterprise customers on the Locate2u platform, including the phased deployment of the
enterprise agreements described below.
03
Optimise Zoom2u and manage capital with discipline
Completing the refinancing or restructuring of the Pure Asset Management facility, which terminates on 7
November 2026, remains the Group's most significant near-term priority. The Directors' assessment of that
matter, and the material uncertainty to which it gives rise, is set out in note 2.
ENTERPRISE CUSTOMERS
GROWING ENTERPRISE CUSTOMER BASE
Securing and deploying enterprise customers on the
Locate2u platform is a key element of the Group's growth
strategy, and the Group is seeing a greater uptick in
enterprise customers using the platform. When
companies implement the software it can have a material
impact on cost reduction inside their business, in the
number of drivers required and the number of dispatch
and scheduling people. That impact is far greater for
larger enterprise customers than for a small business,
where the effect is much smaller. Growth in the
enterprise customer base during the year included a
three year services agreement signed in May 2026 with
FedEx Express Australia, announced to the market on 6
and 7 May 2026, under which Locate2u provides a last
mile logistics technology platform supporting driver
onboarding, compliance management and contractor pay
processing, and an end to end delivery management
system. Deployment under enterprise agreements is
phased, with progression subject to the customer's
ongoing review.
Revenue under enterprise agreements is variable and
depends on the number of drivers onboarded onto the
platform and the functionality taken, and the Company is
not in a position to quantify the financial contribution of
individual agreements at this time. Nothing in this review
is a revenue forecast. The Directors consider the growing
enterprise customer base to be strategically significant,
and securing new enterprise customers for Locate2u is
identified in the going concern assessment in note 2 as a
factor in achieving forecast revenue growth.
LOCATE TECHNOLOGIES · REVIEW OF OPERATIONS 2026OUTLOOK · 07

BASIS OF PREPARATION
ABOUT THIS REVIEW
This review of operations should be read together with the consolidated financial statements for the year ended 30
June 2026 released with it, and in particular the going concern disclosures in note 2. The financial statements are
presented in New Zealand dollars.
Non-GAAP measures
EBITDA and normalised EBITDA are non-GAAP measures.
They are not defined by NZ IFRS, are not audited, and
should not be viewed in isolation from or as a substitute
for the reported result. The Group presents them because
it considers they assist in understanding the performance
of its ongoing operating activities. Both are reconciled to
loss after tax in this review.
Audit status
The financial information referred to in this review is
unaudited. The audit of the financial statements for the
year ended 30 June 2026 is in progress and had not been
completed at the date of this announcement. Audited
financial statements will be released with the Company's
Annual Report on or before 30 September 2026 in
accordance with NZX Listing Rule 3.6.1.
Forward-looking statements
This announcement contains forward-looking statements. Those statements are based on assumptions and expectations
current at the date of this announcement and are subject to risks and uncertainties, many of which are outside the Group's
control. Actual results may differ materially. The Group does not undertake to update forward-looking statements except as
required by the NZX Listing Rules.
ABOUT LOCATE TECHNOLOGIES
Locate Technologies Limited (NZX: LOC) is an AI-powered delivery and logistics technology company. The Group
operates two complementary platforms: Locate2u, a route optimisation and delivery management platform used
by fleet operators, retailers, and logistics providers internationally, with AI features deployed in the product for
customers; and Zoom2u, an on-demand courier and delivery marketplace across Australia that uses AI internally
to run its dispatch and logistics operations. The Group's platforms provide route planning, delivery management,
and real-time visibility for businesses of all sizes.
Locate Technologies is also New Zealand's first listed Bitcoin treasury company, holding Bitcoin as a reserve asset
alongside its operating businesses.
ISSUER
Locate Technologies Limited
COMPANY NUMBER
937 11 62
TICKER
NZX: LOC
BALANCE DATE
30 June
PRESENTATION CURRENCY
New Zealand dollars (NZ$)
BITCOIN CUSTODIAN
Zodia Custody
LOCATE TECHNOLOGIES · REVIEW OF OPERATIONS 2026ABOUT THIS REVIEW · 08

AI-POWERED LOGISTICS.
BITCOIN TREASURY.
NZX : LOC
LOCATE TECHNOLOGIES LIMITEDYEAR ENDED 30 JUNE 2026