Scott Technology Reports Record FY26 Result

Scott Technology Reports Record FY26 Result
AUCKLAND, New Zealand, [22 October 2026] – Scott Technology Limited (NZX: SCT), the global automation
and robotics company, today reported record FY26 revenue of $294.1 million, + 7% YoY and record operating
EBITDA of $36.1 million, + 14% YoY , with earnings growth ahead of revenue. Growth was led by Mining and
Materials Handling & Logistics, while increased focus on Lifecycle Services lifted Recurring Revenue to $95m,
now representing 32.3% of Group revenue.
FY26 was the first full year of Scott’s Destination 2030 growth strategy, as the team put in place the building
blocks for future success. The business completed domain market analysis and establishing Key Account
Management, Lifecycle Services and Innovation frameworks alongside improved systems capability. With
ongoing market activities and embedded capabilities Scott expects FY27 revenue growth of $310–340 million
and operating EBITDA growth of $36–41 million .
Momentum was particularly strong in the second half, with EBITDA growth +78% on H1 FY26, which augurs
well heading into FY27 and reaffirms the track towards Scott’s ambitious 2030 targets.
“One year into Destination 2030, we have broken through the revenue plateau while making meaningful
changes to how Scott operates,” said CEO Mike Christman. “We are getting closer to customers, growing
recurring revenue from our installed base and directing innovation towards clearly defined market
opportunities. The result is a more customer-led, focused and scalable business.”
Business Highlights
• Revenue: $294.1m, +7% YoY
• Operating EBITDA: $36.1m, up 14% YoY
• NPAT: $15.7m, up from $14.2m
• Recurring Revenue (Lifecycle Services): $95m - 32.3% of Group revenue
• Net margin: 30%, up from 29%
• Operating cash flow: $23.8m
• Net debt: $7.7m, down from $12.3m
• Forward work: $146 m
• Dividend: 5 cps final; 9 cps full year

Double-Digit Mining Growth - Revenue increased +22% to $62.3m, supported by strong Rocklabs equipment
demand, greater automation adoption and expanded North American sales and service capability.
MHL broadens Across Verticals and Geographies - Revenue increased +5% to $1 29.9 m as the domain
expanded focus across geographies, securing its first Australian customer and priority FMCG sectors including
meat, dairy, bakery and snacks.
Lifecycle Services Lifts Recurring Revenue - Growth in the installed base and a more deliberate lifecycle
approach increased recurring revenue by 0.6 p ts to $95m (32.3% of group revenue) supporting greater revenue
resilience and deeper customer relationships.
Dividend
Reflecting Scott’s FY26 performance and the Board’s confidence in the underlying strength of the business, the
Directors have declared a final dividend of 5.0 cents per share, bringing the total dividend for FY26 to 9.0 cents
per share . The final dividend will be fully imputed, with the Dividend Reinvestment Plan applying.
Scott’s dividend policy targets a payout ratio of 50%–80% of adjusted NPAT, subject to cash flow, capital
requirements and balance-sheet strength.

Outlook
Scott enters FY27 with forward work of $146 million and a stronger strategic foundation across its four
domains. The focus now shifts from embedding established frameworks to operations: increasing market share
in priority sectors, deepening key-account relationships, growing Recurring Revenue, converting the innovation
pipeline into scalable technologies, all whilst improving productivity through One Scott.
Scott expects FY27 revenue of $310–340 million and operating EBITDA of $36–41 million, while increasing
investment in its innovation pipeline, its people and its systems. Near-term g lobal economic and geopolitical
uncertainty may continue to affect the timing of customer capital expenditure. H owever, structural demand
drivers including labour scarcity, operational safety, productivity and supply-chain resilience continue to
support the adoption of automation across the industries Scott serves.
The business reaffirms its Destination 2030 targets of $530m group revenue, 14% EBITDA and Recurring
Revenue from Lifecycle Services of 35%.
ENDS


For investor enquiries please contact:
Mike Christman
Chief Executive Officer
E: mike.christman@scottautomation.com

For media enquiries please contact:
Eugene Afanasy
Communications Manager
T: +64 21 0852 4832
E: e.afanasy@scottautomation.com

About Scott
Scott delivers smart automation and robotic solutions that transform industries by making businesses safer,
more productive, and more efficient. Our diverse capability makes us the first choice for hundreds of the
world’s leading brands. With design and build operations across Australasia, China, Europe, and America and
over 100 years of engineering excellence, Scott is the global expert in automation.

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SCOTT TECHNOLOGY LIMITED
Annual
Report




SCOTT TECHNOLOGY LIMITED
Annual
Report
2026

02 Performance Highlights
03 Five-year Trend
04 Letter from the Chairman
07 Chief Executive Officer's Address
10 Destination 2030
11 Building a More Connected Scott
14 Turning Customer Insight into Recurring Growth
16 Our Domains
18 Mining: Reaching New Heights
21 Materials Handling & Logistics: Unlocking
New Markets
24 Protein: Towards New Targets
27 Appliance: Expanding Beyond the Core Markets
28 Celebrating Long Service
30 Aligning ESG with Destination 2030
33 Health & Safety
35 Financial Report
82 Independent Auditor’s Report
86 Statement of Corporate Governance
93 Statutory Information
98 Remuneration
107 Directors' Responsibility Statement
108 Directory
CONTENTS
KEY DATES
The Board of Directors (Board) of Scott
Technology Limited is pleased to present this
Annual Report for the year ended 31 August 2026.
It provides a review of our Group performance in
FY26, as well as individual segment performance
updates and progress in the first full year of
Destination 2030, our refreshed business strategy.
On behalf of the Board, 22 October 2026.
Stuart McLauchlan
Chairman and Independent Director
John Thorman
Director
Dividend
Total dividend: 9.0 cents per share
(Interim: unimputed, Final: fully imputed)
Final Dividend:
- Record date: 6 November 2026
- Payment date: 24 November 2026
Dividend reinvestment plan applies to this payment
for shareholders who have elected to receive shares
in lieu of a cash dividend.
Annual Meeting
Thursday 26 November 2026, 3:00pm
www.virtualmeeting.co.nz/sct26
Proxies close Tuesday 24 November 2026, 3:00pm
Annual Report 2026
Page 1

RECORD
PERFORMANCE.
FOUNDATIONS
ESTABLISHED.
CLEARER PATH
TO GROWTH.
$294.1m
RECORD REVENUE UP 7% ON FY25
$ 3 6 .1m
RECORD OPERATING EBITDA
UP 14% ON FY25
$95m
LIFECYCLE SERVICE RECURRING
REVENUE CONTRIBUTING
32% OF GROUP REVENUE
30%
GROUP NET MARGIN UP 1PTS
13 %
DECREASE IN EMISSIONS FROM FY22,
SOLID PROGRESS ON 30% BY 2030
REDUCTION TARGET
STRATEGY INTO
EXECUTION
INNOVATION FRAMEWORK
LIFECYCLE SERVICES & KEY
ACCOUNT MANAGEMENT
FRAMEWORKS
GLOBAL HRIS
MORE CONNECTED
ONE SCOTT DIGITAL
ENVIRONMENT
Scott Technology Limited
Page 2

$294.1m
RECORD REVENUE UP 7% ON FY25
$ 3 6 .1m
RECORD OPERATING EBITDA
UP 14% ON FY25
$95m
LIFECYCLE SERVICE RECURRING
REVENUE CONTRIBUTING
32% OF GROUP REVENUE
30%
GROUP NET MARGIN UP 1PTS
13 %
DECREASE IN EMISSIONS FROM FY22,
SOLID PROGRESS ON 30% BY 2030
REDUCTION TARGET
STRATEGY INTO
EXECUTION
Scott Technology Limited (NZX:SCT) delivered record
revenue and operating EBITDA for the financial
year ended 31 August 2026, concluding the first full
year of Destination 2030, its five-year global growth
strategy. During the year, Scott continued to grow while
establishing the core capabilities required to support its
FY30 target of $530 million.
Group revenue reached a record $294.1 million, up 7%
year on year, while operating EBITDA increased 14% to
$36.1 million, with earnings growth ahead of revenue
growth. The strategic focus on Lifecycle Services lifted
recurring revenue to $95 million, or 32.3% of Group
revenue, up from 31.7% in FY25 — strengthening the
quality of the business.
The underlying business also strengthened. Group net
margin increased to 30%; operating cash flow improved
to $23.8 million and net debt reduced to $7.7 million from
$12.3 million in FY25. Together, the result leaves Scott
in a stronger financial position as the emphasis shifts
from establishing the foundations of Destination 2030
to converting them into sustained commercial growth,
increased innovation investment and greater market share.
20222023202420252026
FINANCIAL$‘000s$‘000s$‘000s$‘000s$‘000s
Revenue221,757267,526 276,125 275,273294,116
Reported EBITDA 23,918 29,691 26,43031,53934,852
Net surplus / (loss) after tax12,65715,4367,717 14,21315,671
Operating cash flow 6,30820,2175,972 22,30023,763
Net cash / (overdraft) 3,93512,396(7,325)2,0566,130
Bank loans 11,97012,47512,73914,31013,846
Total asset s 206,888253,054243,980269,568294,991
Shareholders' equity 100,406113,899111,721129,274 145,227
DIVIDENDS (cents per share)20222023202420252026
Interim
4.04.0 5.0 3.04.0
Final
4.04.0 3.0 5.05.0
8.08.08.08.09.0
EMPLOYEES (number)20222023202420252026
New Zealand198231 225196189
Australia9566 524049
China4043 454955
Americas6059 584854
Europe240257 269278273
Total633656 649 611620
FIVE-YEAR TREND
Revenue & EBITDA FY24-FY26
FY26 Employees by region
Annual Report 2026
Page 3
GROWTH STRATEGY DELIVERS

On behalf of the Board of
Directors, I am pleased to
present Scott Technology’s 2026
Annual Report.
FY26 marks the completion of
the first full year of Destination
2030, our strategy to build
a larger, more scalable and
increasingly competitive global
automation business.
A year ago, we set out an ambitious pathway to grow
Group revenue to $530 million by FY30, while targeting an
EBITDA (earnings before interest, taxes, depreciation, and
amortisation) margin of 14%. Achieving our goals will require
a clear, focused strategy, disciplined execution and strong
leadership across the Scott business.
The progress made during FY26 further deepens our
confidence that this transformation is under way.
Scott enters FY27 with stronger earnings, forward work,
deeper relationships with key global customers and continued
investment in the systems, technology and people required
to support our ambitions. Importantly, the continuation of
Destination 2030 pillars reinforces one another. From clearer
market focus informing investment, to stronger customer
relationships creating new opportunities and a growing
installed base delivering growth in recurring revenue through
lifecycle services and more scalable technologies creating
pathways for growth.
A Year of Growth and Execution
Scott delivered Group revenue of $294.1 million, an increase
of 7% on FY25, and record operating EBITDA of $36.1
million, up 14.5%.
NPAT (net profit after tax) was $15.7 million, while Group net
margin was 30%. Forward work at year end stood at $146
million, providing visibility across the business as we enter FY27.
Recurring revenue through Lifecycle Services continued to
make a significant contribution to the Group, generating $95
million of revenue and representing 32.3% of total revenue.
Building a greater contribution from Lifecycle Services remains
an important part of creating more resilient earnings mix and
progressing towards our FY30 target for service revenue to
represent more than 35% of annual Group revenue.
The Board remains focused not simply on annual growth but
on whether Scott is developing the capabilities required to
sustain that growth through FY30 and beyond.
Strategy in Motion
FY26 was focused on establishing the capabilities required to
support Scott’s next stage of growth.
Key Account Management and Lifecycle Services are creating
a more structured approach to strategic customer relationships
and our growing installed base. The Innovation Framework is
bringing greater discipline to R&D (research and development)
investment and directing resources towards clearly identified
market and customer opportunities. 'One Scott' is progressively
connecting our global systems and operations, while
investment in leadership and people capability is supporting
the development of a stronger global team.
These initiatives are not ends in themselves. The Board
is in full support of Mike Christman in the delivery of
Destination 2030, achieving better customer outcomes,
stronger execution, greater productivity, improved financial
performance and sustainable shareholder returns.
Investing for the Next Stage of Growth
As Scott grows, disciplined capital allocation becomes
increasingly important. The Board continues to balance
investment in technology, people and operating capability
with maintaining balance sheet strength and providing
sustainable returns to shareholders.
Investment in research and development will increase in
FY27, directed through the Innovation Framework and
domain product roadmaps established under Destination
2030. This investment is deliberate. Achieving our FY30
ambitions requires unified technologies that can be scaled
across customers, applications and markets, supported by the
digital and operational infrastructure of a significantly larger
global business.
The Board will continue to assess these investments against the
long-term value they can create for Scott and its shareholders.
Safety, People and Governance
The health, safety and wellbeing of our people remain
the Board’s highest priority. We have established a four-
year programme aimed at moving our safety culture from
compliance to commitment, with a clear expectation that
safe behaviours and accountability are embedded in how
Scott operates, makes decisions and grows.
We also continued investing in leadership, capability and culture
during FY26 as we build the workforce required to deliver
Destination 2030. Creating an environment where talented
people can contribute, develop and build long-term careers at
Scott will be increasingly important as the business grows.
During the year, the Board welcomed Jerson Nascimento Jr.
as a Non-Executive Director. Jerson brings more than 28 years
of international experience across procurement, supply chain,
industrial operations and innovation, adding valuable global
customer and protein-sector perspective to the Board as
Scott executes Destination 2030.
LETTER FROM THE CHAIRMAN
”Our global footprint, diversified
markets and increasingly connected
operating model are important
strengths in that environment"
Scott Technology Limited
Page 4

Stuart McLauchlan
Chairman and Independent Director
Environmental, Social and Governance
Responsible business practice remains fundamental to Scott’s
long-term success.
In FY26, Group Scope 1 and 2 emissions reduced by 4% year-on-
year and by 13% from FY22. Scott remains committed to its
target of reducing Scope 1 and 2 emissions by 30% by 2030.
Our ESG priorities are also becoming more closely aligned
with Destination 2030, including how we support our people,
manage enterprise risk and use automation to help customers
improve safety, productivity and resource efficiency.
The Board will continue to ensure that Scott’s Environmental,
Social, and Governance (ESG) priorities evolve alongside the
growth and changing footprint of the business.
Dividend
Reflecting Scott’s FY26 performance and the Board’s
confidence in the underlying strength of the business, the
Board has declared a final dividend of 5.0 cents per share,
bringing the total dividend for FY26 to 9.0 cents per share.
This reflects our approach to providing sustainable shareholder
returns while retaining the financial flexibility required to invest
in Destination 2030 and Scott’s longer-term growth.
Scott’s dividend policy targets a payout ratio of 50–80% of
adjusted NPAT, subject to cash flow, capital requirements and
balance sheet strength.
Outlook
We enter FY27 with momentum but also with a clear
understanding of the work ahead.
For several years, I have written about global volatility and
uncertainty. Increasingly, these are not temporary conditions
to be waited out but part of the environment in which Scott
must operate. Our global footprint, diversified markets
and increasingly connected operating model are important
strengths in that environment.
At the same time, technology and digital connectivity are
changing the economics of global growth. Companies can
increasingly combine specialist capabilities across borders
without replicating every function in every market.
For Scott, this reinforces the rationale behind Destination 2030.
We can combine deep centres of expertise, globally scalable
technologies and strong local customer relationships, using One
Scott to bring those capabilities together across borders.
The Board remains confident in that direction and in the
long-term opportunity ahead of Scott. Importantly, that
confidence is increasingly grounded in execution.
In closing, I would like to thank Mike Christman and the
Executive Team for their leadership throughout FY26, my fellow
Directors for their continued contribution and oversight and our
customers and shareholders for their ongoing support.
Scott’s service and commissioning team prepares to install a lamb primal system at JBS Cobram, Australia.
”Scott enters FY27 with stronger
earnings, forward work, deeper
relationships with key global
customers and continued
investment in the systems,
technology and people required
to support our ambitions"
Most importantly, I extend my thanks to our team members
around the world. The progress made this year reflects their
expertise, commitment and willingness to embrace change.
As Scott enters the second year of Destination 2030, their
contribution will remain fundamental to everything we aim
to achieve.
Annual Report 2026
Page 5

Meet Jerson Nascimento Jr.
Joining the Scott Technology
Board comes at an exciting point
in the company’s development.
As the Global Chief Procurement
& Innovation Officer for the JBS
Group, my role on the Scott Board
is to further develop and solidify
JBS’ commitment to achieving and
exceeding Destination 2030.
From my perspective, Scott Technology is uniquely positioned
to help shape the future of automation and intelligent
manufacturing. Its combination of engineering excellence,
advanced robotics capabilities and customer-focused
innovation creates a strong platform for sustainable growth.
As industries continue to seek greater efficiency, safety and
operational performance, Scott is well positioned to deliver
meaningful value to customers, while supporting JBS’ long-
term strategic objectives.
There is a significant opportunity ahead as the company
continues to build on its expertise in automation and robotics
and expand the value it provides to customers around the world.
I am particularly excited about the opportunities to accelerate
innovation, expand Scott’s global footprint and strengthen
its position as a trusted partner in industrial automation. The
company has consistently demonstrated its ability to solve
complex operational challenges through practical, high-impact
technology solutions, and I look forward to seeing how those
capabilities can be further leveraged to support long-term
growth and value creation.
Jerson Nascimento Jr.
Director
Throughout my career, I have had experience in leading
global procurement, supply chain, innovation and business
transformation initiatives across large-scale international
organisations, and I hope to bring that perspective to the Board
as Scott enters its next phase of growth.
In particular, I believe my experience in driving operational
excellence, developing strategic partnerships, managing complex
global networks and aligning innovation investments with
business objectives can help support Scott’s continued growth
and competitiveness in the global marketplace.
For me, one of my priorities will be helping Scott accelerate
strategic execution, while preserving the entrepreneurial
mindset, customer focus and innovation culture that has
been fundamental to its success. Sustainable growth requires
clear priorities, disciplined execution and a relentless
focus on delivering value for customers, shareholders and
stakeholders alike.
I’m also looking forward to spending time across the Scott
business, meeting our people and our customers and further
developing the Customer-First principle across the organisation.
I am confident that the combination of Scott’s talented people,
innovative technologies and strong strategic direction positions
the company well for its next chapter of growth. I am excited to
contribute to that journey and help create long-term value for
customers, employees and shareholders.
Full profiles are available
on our website:

www.scottautomation.
com/en/investor-centre/
governance
OUR BOARD
Stuart McLauchlan
Chairman & Independent
Director
Derek Charge
Independent Director
John Thorman
Independent Director
John Berry
Alternate Director for
Jerson Nascimento Jr.
Brent Eastwood
Director
Jerson Nascimento Jr.
Director
Al Byers
Director
Scott Technology Limited
Page 6

A year ago, I wrote to
shareholders about an
organisation at the beginning
of significant change.
Since then, we have begun to
remove many of the constraints
that had held Scott back. We
have broken through the
revenue plateau, sharpened
our focus on Lifecycle Services
and are increasingly building relationships with customers
as a long-term automation partner rather than simply an
equipment vendor. Our innovation pipeline is becoming
more deliberate, aligned to defined market opportunities
and customer outcomes rather than one-off engineering
problems. Together, these changes are making Scott a more
customer-led, focused and scalable organisation.
Destination 2030 was our response. We reorganised Scott
around four global domains and set a target to grow annual
revenue to $530 million by FY30, supported by an EBITDA
CHIEF EXECUTIVE OFFICER'S ADDRESS:
THE PATTERN IS EMERGING
margin of 14.5%. We moved with urgency, establishing new
executive roles and beginning the work required to build a
business capable of greater growth, scale and execution.
We have also been more deliberate about how Scott shows
up in the market. During FY26, we increased our presence
across industry media, podcasts, trade events and investor
forums, while strengthening relationships with organisations
including the NZX and Technology Investment Network. That
greater visibility is helping us tell a clearer and more consistent
story about Scott, our technology and the role we play in
transforming industries and we are increasingly hearing that
reflected back by customers, investors and industry peers.
FY26 was the first full year of Destination 2030. It was a year
of building capability inside Scott, while continuing to grow
the business.
We completed domain market analysis, established Key
Account Management and Lifecycle Services frameworks,
introduced a structured Innovation Framework and
continued connecting the business through One Scott. We
also strengthened our global people capability through
the rollout of a unified Human Resources Information
System (HRIS), creating the platform for future learning and
development, better workforce visibility and more efficient
people processes.
Mike Christman, Chief Executive Officer (CEO) rings the bell at NZX
alongside Co-Chief Financial Officers, Scott Hawkins & Anthony Wesney.
”Our market analysis needs to
translate into market share"
Annual Report 2026
Page 7

These foundations are only the beginning of the Destination
2030 journey. There is considerably more change ahead as
we embed these frameworks into everyday behaviours and
commercial outcomes. Even so, we are already beginning
to see the benefits through clearer market choices, stronger
customer relationships, more disciplined innovation and a
more connected global organisation. These initiatives are
changing where we compete, how we invest, how we manage
our most important customers and how our teams work
together globally. They are also an important part of building
a high-performing global team capable of supporting a
significantly larger business.
Scott delivered record revenue of $294.1 million, up 7% year-
on-year and record operating EBITDA of $36.1 million, up 14%.
Meanwhile recurring revenue from Lifecycle Services reached
$95 million, representing 32.3% of Group revenue, as we invest
into building deeper, longer-term relationships around our
growing installed base.
Throughout this work, health and safety remains non-
negotiable. During FY26, we refreshed our global Health
and Safety leadership and began implementing a four-
year programme designed to move the organisation from
compliance towards deeper commitment, strengthening
leadership accountability, frontline ownership and our
approach to critical risks. As Scott grows, we need to ensure
our safety culture strengthens with it.
The Executive Team, joined by Jerson Nascimento Jr. to explore Scott's strategic ambitions in Singapore.
Across the business, a clear and increasingly deliberate pattern
is now emerging — clearer choices about where we compete,
deeper customer relationships, proven technologies being
scaled into new applications and geographies, a growing
installed base generating greater lifecycle value and a more
connected organisation capable of supporting that growth.
That is the Destination 2030 strategy in action.
The clearest evidence of progress is in our four domains.
Mining led Scott’s growth in FY26, with revenue increasing
22% to $62.3 million. Strong Rocklabs equipment demand was
complemented by growing adoption of our Automated Modular
Solution (AMS) in commercial laboratories. We innovated AMS
throughput, strengthened key customer relationships and
expanded direct sales and service capability in North America
— demonstrating how our Leading-Edge Technology, Customer
First and One Scott priorities reinforce one another.
Materials Handling and Logistics continued to broaden and scale,
with revenue growing 5% to $129.9 million. Our market analysis
is driving expansion across priority sectors and geographies,
supported by new and repeat customer contracts. At the
same time, NexPAL, NexBOT and MAESTRO+ are bringing our
capabilities together into a more integrated and repeatable
Production-to-Warehouse platform.
Protein remained resilient despite challenging market
conditions. We finished FY26 with a much clearer pathway to
our $165 million FY30 revenue ambition: expanding BladeStop
geographically and vertically, extending our automation
capability into beef, building on our established lamb and poultry
technologies and growing Lifecycle Services around the installed
base. Another LEAP system secured with a large Australian
customer and BladeStop’s expansion into Mexico are early
examples of that strategy in action.
Appliances delivered another solid year, with revenue increasing
11% to $34.7 million. The domain’s established installed base
”These initiatives are changing
where we compete, how we
invest, how we manage our most
important customers and how our
teams work together globally"
Scott Technology Limited
Page 8

presents opportunities to expand Lifecycle Services and
build stronger, longer-term customer relationships. We are
also assessing how Scott’s established steel-forming and
automation expertise can be applied in adjacent markets.
Four different domains, operating in very different
industries - but increasingly, the growth model is the same:
understand the market, innovate in areas where Scott can
forge rather than follow, scale proven technologies, deepen
customer relationships and build greater lifecycle value
around every system we deploy.
Our focus now is to make that model increasingly
repeatable across Scott. With those foundations now in
place, FY27 marks a change in emphasis. We enter the year
with forward work of $146 million, providing visibility into
future activity across our domains and supporting the next
phase of growth.
The frameworks and capabilities we established during
FY26 now need to become embedded behaviours and
measurable commercial outcomes.
Our market analysis needs to translate into market
share, Key Account Management into deeper customer
relationships and larger long-term pipelines and innovation
investment into scalable technology platforms that can be
deployed across customers, applications and geographies.
Our growing installed base must also support a larger
Lifecycle Services business, while One Scott initiatives will
translate into greater productivity across the Group.
Finally, this growth depends on our people. We will continue
investing in leadership, capability and development, giving
our teams the tools and clarity they need to execute the
strategy and grow the business.
The task now is to make these capabilities repeatable across
our four domains, turning the foundations we have built
into a more scalable, customer-led growth model. That is
the next phase of Destination 2030's growth strategy.
We enter FY27 with stronger foundations, clearer market
priorities and increasing evidence that Destination
2030 is translating into commercial outcomes. The next
phase is about conversion — turning stronger customer
relationships, disciplined innovation, a growing installed
base and a more connected operating model into
sustained revenue growth, improved margins and greater
operating leverage.
We know there is more to do. But the progress made in
FY26 gives us greater confidence in both the opportunity
ahead and Scott’s ability to capture it.
Mike Christman
Chief Executive Officer
Full profiles are available on our website:
www. scottautomation.com/en/about-us/our-people

Mike Christman
Chief Executive Officer
Aaron Vanwalleghem
President of Materials Handling
Andrew Arnold
Global Director of Innovation
Anthony Wesney
Interim Co-Chief Financial Officer
& Director of Transformation
Werner Conradie
President of Mining
Hayley Ormrod
Group GM – People
Mark Host
President of Protein
Scott Hawkins
Interim Co-Chief Financial Officer
Cathy (Yan) Zhang
Regional Director – China
0UR EXECUTIVE TEAM
Annual Report 2026
Page 9

To be the trusted partner that puts our customers first, fostering
lasting partnerships that drive innovation and success.
DESTINATION 2030:
DELIVERING SUSTAINABLE,
PROFITABLE GROWTH
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Scott Technology Limited
Page 10

BUILDING A MORE CONNECTED SCOTT
In FY24, Scott Technology was experiencing many
of the complexities of a much larger multinational
organisation despite having a global workforce of
around 649 people. The business operated across
multiple geographies, six languages and a patchwork
of systems that did not consistently connect across
domains or regions. There was no single operating
environment, no common technology foundation and
no unified people platform.
That fragmentation created friction in how information
moved through the business, how teams collaborated and
how Scott managed its people and customers globally.
Delivering Destination 2030 requires Scott to become
more than a larger business. It requires a more connected
organisation, one where systems, information, leadership
and behaviours can support greater scale without adding
complexity at the same rate.
During FY26, Scott continued to build the foundations of that
model through One Scott and High Performing Teams. The
starting point is people.
Scott began rolling out its High Performing Teams
programme across the organisation. The programme is
increasingly commercial in its focus. Teams are being asked
to apply Destination 2030 to their own areas of the business,
identifying where growth can come from, what capabilities
are required to capture it and how existing ways of working
may need to change.
Alan Dickie and Brian Rekittke review system installation documents.
“The strategy becomes real when it changes how people
work every day. High Performing Teams is about taking the
frameworks we’ve built and turning them into behaviours —
how we collaborate, how we lead, how we make decisions
and how every individual thinks about their contribution to
growth,” says Hayley Ormrod, General Manager – People.
That work is now supported by more consistent people systems.
Scott rolled out its global HRIS during FY26, replacing a
range of manual processes and local tools with a more
consistent global foundation. The initial rollout focused
on core human resource capability, workforce planning
and recruitment, with further functionality planned over
time across learning and development, compensation and
talent management.
“Destination 2030 represents a step change in ambition
for Scott, and our People Strategy has had to evolve with it.
For the first time, we now have a single view of our entire
global workforce. That gives us the foundation to move
”Scott has begun a multi-year
Customer Platform programme
designed to connect customer,
product, service and lifecycle
information into one common system"
Annual Report 2026
Page 11

beyond largely regional, administrative people management
and towards more deliberate global workforce planning,
development, succession and talent management. If we
want to build a competitive global organisation, we need to
understand where our capability sits today and where we
need to invest for the future,” adds Hayley Ormrod.
The People function itself was also reshaped to better
support Destination 2030.
Specialist capability was established across People Experience
& Systems and Organisational Development, creating clearer
ownership across employee experience, engagement,
remuneration and benefits, leadership capability, learning
and development, performance, succession and talent.
Domain-aligned HR roles were also introduced to bring
support closer to the parts of the business where growth
needs to be delivered.
Alongside that investment in people and capability, Scott
continued to build the common systems needed to support
a more connected global organisation.
Scott continued to simplify its digital environment during
FY26, moving more of the organisation onto common
platforms and shared ways of working. Following the
migration to a single Microsoft platform, the business
expanded its shared digital workspace across functions
and domains, improving access to information and making
collaboration much more seamless.
The immediate benefit is simpler access to information and
more consistent collaboration across regions; the broader
objective is to reduce fragmentation and create more
common ways of working across the Group.
“Building a more connected global organisation is critical.
We know, for example, that the meat sector is an identified
growth opportunity for our Materials Handling & Logistics
domain, and we already have established, deep relationships
with many of those customers through our Protein domain.
From the customer’s perspective, they’re not dealing with
MHL or Protein. They’re dealing with Scott Technology, and
they want us to solve a problem. Our systems need to reflect
and support that reality,” says Anthony Wesney, Director of
Transformation.
That work now extends into the customer environment.
Scott has begun a multi-year Customer Platform programme
designed to connect customer, product, service and lifecycle
information into one common system. The objective
is to move away from fragmented customer data and
disconnected interactions towards a single, shared view of
each customer, giving teams better visibility, supporting
more coordinated service and account growth; simply put a
One Scott Customer Platform.
As we head into FY27, the same platform is expected to
support a more proactive approach to customer support.
Connecting customer, asset and service information creates
the potential to identify maintenance, parts and upgrade
requirements earlier and, as Scott’s data environment
matures, apply AI to move from proactive towards
increasingly predictive service offerings.
“We’re moving towards a point where our systems won’t just
tell us what has happened with a customer or a machine,
they will increasingly help us understand what is likely to
happen next. That creates a different opportunity for how
we support customers and how our people make decisions,”
adds Anthony Wesney, Director of Transformation.
Across both One Scott and High Performing Teams enablers,
the direction is increasingly convergent — common systems
are improving how information moves through the business.
The Customer Platform is creating a more connected view
of customers and the installed base, HRIS is establishing
a stronger global people foundation and High Performing
Teams is helping translate the strategy into everyday
behaviours.
Together, these tools and capabilities will support faster
decisions, stronger execution and a more connected
organisation able to scale with confidence. As these changes
take hold, Scott will be better equipped to operate as one
global business and compete more effectively for the growth
opportunities ahead.
Dunedin machinists set up for new parts manufacturing.
”...we want to build a competitive
global organisation, we need to
understand where our capability
sits today and where we need to
invest for the future"
Scott Technology Limited
Page 12

Scott technician works on the installation and commissioning of an automated processing system.
Annual Report 2026
Page 13

I
N
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M
A
R
K
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E
N
A
B
L
E
D

T
E
A
M
S
ONE SCOTT
CUSTOMER
FIRST
HIGH
PERFORMING
TEAMS
LEADING
EDGE
TECHNOLOGY
Lifecycle Service Framework
Retire
Asset Lifecycle
Completion
Modify
Enhancement
& Optimisation
Maintain
Lifecycle
Maintenance
& Support
Operate
End-to-End
Delivery
Design
Customer-Centric
Design / Solution
Build
Develop & Delivery
Excellence
TURNING CUSTOMER INSIGHT
INTO RECURRING GROWTH
The strategic pillars of Destination 2030 are
increasingly interconnected. As Scott develops a deeper
understanding of the industry and its customer’s
constraints, risks and future needs, that understanding
can inform innovation investment.
In turn, successful technology creates a larger installed
base and new opportunities to support customers through
service, parts, software, maintenance and upgrades over the
life of the equipment – all adding substantial value to the
customer’s operations and recurring revenue opportunities
for the business.
This year, the business established common Key Account
Management and Lifecycle Services frameworks, creating
a more structured approach to managing strategically
important customer relationships across domains – and
providing a consistent way to support customers across every
phase of their equipment lifecycle. The opportunity becomes
increasingly valuable as Scott’s installed base grows.
“We have very strong customer relationships, but historically
our engagement can be at its strongest when we’re delivering
a project or solving an immediate problem,” says Jens Leys,
Service Director, Europe. “The opportunity is to stay much
closer between those moments, understanding a customer’s
priorities, their installed base and their future investment plans
so we can plan the relationship together over the longer term.”
Service revenue has increased to $95 million, representing
32.3% of Group Revenue (up from 31.7% in FY25),
demonstrating the significance of the installed base alongside
new project activity.
“Think about how you maintain a car. You don’t wait for every
component to fail before doing something about it, you rely
on manufacturer guidelines and technical expertise that tell
you when it needs to be serviced and when parts are likely
to need replacing,” says Lee Williams, NZ Appliance & Service
Manager. “We have thousands of pieces of equipment in
the field. As we become better connected to that installed
base, we can move from responding to customers towards
anticipating what they are going to need.”
Greater connectivity could eventually allow Scott to
understand that usage, identify when a component is
approaching replacement and alert the customer before
performance is affected. The same principle could support
preventative maintenance programmes, usage-based
service models and recurring software or support offerings
across other Scott technologies.
Throughout FY26, Scott continued to expand its installed
base across North America, with a growing number of major
customer sites and flagship projects, including JBS Brooks,
expected to come online shortly. Alongside that growth,
Scott has deliberately invested in the people, parts and
local technical capability needed to support that expanding
footprint and provide customers with stronger lifecycle
support.
Scott Technology Limited
Page 14

“A system is only as valuable as the support behind it. When a
customer is relying on that equipment every day, service isn’t
an add-on, it’s part of the promise we make when we install
it,” says Melika Mason, Service Director, USA. “As our North
American footprint grows, we are investing heavily in local
capability and stock to deliver that consistently across every
site. If we do that well, we protect uptime for customers and
build a much more durable recurring revenue for Scott.”
That closer connection to customers also creates an
important input into innovation. During FY26, Scott also
developed a more structured Innovation Framework,
supported by domain innovation leadership, clearer
governance to create greater visibility of opportunities and a
pathway for ideas to be submitted, vetted and developed.
The shift is important. Scott has always had deep engineering
capability, but Destination 2030 requires greater discipline
around where and how that capability is deployed.
Rather than starting with what can technically be engineered,
the framework starts with understanding the market —
where customers are experiencing friction, where industries
are changing and where Scott has the capability to deliver
something meaningfully differentiated and scalable. Where it
can forge rather than follow.
“Innovation doesn’t start with the technology. It starts with
understanding,” says Andrew Arnold, Director of Innovation.
“We need to understand our markets, our customers and the
problems they face now and in the future. Then we can focus
on solving the problems ask where Scott has the capability to
genuinely lead rather than follow.”
The framework is designed to help Scott assess opportunities
more consistently and focus investment where customer
demand and commercial potential intersect.
Recent examples show that approach taking shape. In
Mining, the Rocklabs AMS was developed around the need
for laboratories to process growing sample volumes more
efficiently, and the team had lifted system throughput by
30%. In Materials Handling & Logistics, customers across
Europe and North America were looking to increase
production capacity without expanding already constrained
facilities, helping shape the NexPAL 200HL, a high-capacity
palletiser with a footprint around 25% smaller than
comparable solutions.
“Both examples started with a clear customer or industry
constraint, applied differentiated engineering and developed
solutions that can be repeated across customers and
markets,” added Andrew Arnold.
”Innovation doesn’t start with
the technology. It starts with
understanding"
Andrew Arnold explains the innovation framework to the team.
The focus now is on building the pipeline behind the next
wave of those opportunities. In FY27, Scott will increasingly
align its innovation pipeline with customer needs, industry
bellwethers and lifecycle opportunities, identifying where
it can lead, testing commercial potential earlier and
concentrating investment on technologies with the potential
to scale across customers, sectors and geographies.
That thinking will also extend beyond the initial product.
Increasingly, Scott’s product roadmaps will consider how
technologies can be supported, upgraded and developed
over their lifecycle, creating further value for customers and a
stronger long-term relationship with Scott.
Annual Report 2026
Page 15

12 %44%
44%
Revenue
Net Margin
Net Margin %
Recurring* %
$35m
$9m
26%
15%
$130m
$31m
24%
31%
Revenue
Net Margin
Net Margin %
Recurring* %
APPLIANCEMATERIALS HANDLING
Revenue ContributionRevenue Contribution
Key Customer PartnershipsKey Customer Partnerships
OUR DOMAINS
* Revenue has been redefined into equipment and recurring. Recurring represents subsequent activities including: software, data, maintenance and upgrades.
Previously, 'equipment, software and upgrades' were included as 'sales' and 'parts and service' as 'service'. All numbers that refer to equipment or recurring
revenue have been rebased accordingly.
Scott Technology Limited
Page 16

$62m
$24m
38%
27%
$67m
$24m
36%
50%
Revenue
Net Margin
Net Margin %
Recurring* %
Revenue
Net Margin
Net Margin %
Recurring* %
MININGPROTEIN
21%23%
Revenue ContributionRevenue Contribution
Key Customer PartnershipsKey Customer Partnerships
Annual Report 2026
Page 17

FY26 was a strong year for Scott’s Mining business, with
revenue increasing 22% to $62.3 million.
The result was driven by continued demand across the
established Rocklabs equipment portfolio, alongside increasing
momentum in laboratory automation and the expansion of
Scott’s direct sales and service capability in North America.
Rocklabs has spent more than 50 years developing sample
preparation equipment for the global mining industry. That
core remains an important strength but the opportunity is
increasingly extending beyond individual pieces of equipment
towards more integrated automation, service and long-term
customer partnerships.
For James Kim, Commercial Manager – Rocklabs, that creates
a clear pathway for expansion.
“We have a very strong position in sample preparation
and a brand that customers have trusted for decades. The
opportunity now is to build on that position expanding in priority
markets, getting closer to our customers and creating more
value across the life of the equipment we supply.”
North America has been a particular area of focus. Scott has
continued to build its direct sales and service presence across
the region, complementing the distributor network that gives
Rocklabs reach into markets where direct support is less
practical. The broader commercial strategy is deliberately
shifting from a transactional, product-led model towards deeper
customer relationships supported by equipment, automation,
service and technical expertise.
“Growth for us is ultimately about customer outcomes,” Kim
said. “That means understanding where laboratories are
trying to increase throughput, improve reliability or reduce
manual intervention and then bringing the right combination
of equipment, automation and support to solve that problem.
If we do that well, geographic expansion and growth follow.”
Alongside commercial expansion, Scott is continuing to
develop its automation capability through the Automated
Modular Solution (AMS).
Designed to automate elements of minerals sample preparation,
AMS aims to increase laboratory throughput, while maintaining
the accuracy and quality required from the sample preparation
process. During FY26, continued development and operating
experience strengthened Scott’s understanding of how
MINING: REACHING NEW HEIGHTS
The team celerate 30% throughput improvement of
AMS crush cell.
the platform can be further improved and deployed across
commercial and mine-site laboratories.
That work is closely connected to how the Mining team is
evolving internally.
For Eoin Foster, Operations Manager – Rocklabs, the challenge
is to ensure the operating capability behind Rocklabs develops
at the same pace as the commercial opportunity.
“The strategy only works if we can execute it. That means
having the right people, stronger operating disciplines
and much closer alignment between engineering, R&D,
manufacturing and service. As we grow, we need to make sure
we can deliver consistently for customers wherever they are in
the world.”
Innovation is an important part of that operating agenda.
Rather than treating R&D as a series of isolated engineering
projects, the Mining team is increasingly focusing development
on clearly identified customer requirements and technologies
that have the potential to scale.
“With AMS, the focus is not innovation for its own sake,”
Foster said. “We are looking at throughput, reliability,
serviceability and how the technology performs in a real
laboratory environment. The feedback from operations and
customers needs to flow directly back into R&D so that each
iteration gives us a stronger platform.”
The combination reflects the broader Destination 2030 model
being applied within Mining: use market insight to determine
where Scott can compete, invest in differentiated technology,
strengthen key customer relationships and build Lifecycle
Services around a growing installed base.
Strong demand for Rocklabs standard equipment already
provided evidence of that momentum during FY26, while the
expansion of automation and direct customer capability provides
additional avenues for future growth.
For Scott, the objective is not to move away from what has made
Rocklabs successful. It is to use that foundation, its products,
people, engineering knowledge and reputation for reliability to
build a broader and increasingly scalable Mining business.
”...broader commercial strategy
is deliberately shifting from
a transactional, product-led
model towards deeper customer
relationships supported by
equipment, automation, service
and technical expertise"
Scott Technology Limited
Page 18

DEDICATED TO PROTECTING LABORATORY THROUGHPUT
MSA Labs is a global provider of geochemical laboratory
services to the exploration and mining industries, with a
growing international network designed to deliver fast,
accurate assay results. Its laboratories in Carlin and Elko
sit within Nevada’s major gold-mining region, where
reliable sample preparation and rapid turnaround are
critical to the decisions made by mining customers.
At its Carlin laboratory, MSA operates two Rocklabs Twin
Smart Boyd systems around the clock. Until FY26, technical
support was largely coordinated from New Zealand,
creating unavoidable time-zone and distance constraints
when parts, technical advice or on-site assistance were
required. “Sample preparation is the first step in our
process, so when equipment is unavailable, the effect
can quickly flow through the rest of the laboratory,” said
Wendy Komp, Lab Manager at MSA Labs. “Protecting
uptime is therefore essential to meeting the turnaround
commitments we make to our customers.”
From March 2026, Rocklabs strengthened its North
American service model with regional technicians, locally
held parts and a new service agreement providing
scheduled quarterly visits. During the year, the team
upgraded software across both Twin Smart systems,
resolved a break down and returned equipment to
operation on the same day, replaced wear components
and arranged crusher refurbishment through Scott’s
Charlotte, North Carolina facility. Each visit also produced
a recommended spares list, helping protect equipment
uptime for MSA labs.
“The biggest difference is having knowledgeable support
much closer to the site,” said Komp. “We can get technical
answers quickly, plan maintenance more effectively and
address issues before they become larger disruptions.
That gives our team greater confidence in the equipment
and in the support behind it.”
The relationship demonstrates Scott’s Customer First
and Lifecycle Services strategy in practice. As Rocklabs
expands its North American installed base, Scott is
investing in the people, parts and local capability required
to support customers throughout the life of their
equipment. “This is developing into a much more planned
partnership,” added Komp. “As our Nevada operations
evolve, having Rocklabs equipment, local service and
preventative maintenance working together will help
us protect throughput and continue delivering reliable
results for our customers.”
VOICE OF CUSTOMER
Annual Report 2026
Page 19

Introducing the small footprint high-speed palletiser, Scott NexPAL 200HL.
Scott Technology Limited
Page 20

MATERIALS HANDLING & LOGISTICS:
UNLOCKING NEW MARKETS
Materials Handling & Logistics (MHL) continued to build
momentum in FY26, with revenue increasing to $129.9
million as Scott progressed a significant programme of
customer, market and product development designed to
support the domain’s next stage of growth.
The nature of the MHL business means that growth is
realised over longer cycles. Major automation projects move
through customer engagement, engineering, manufacture,
installation and commissioning over multiple periods, with
revenue recognised progressively. New contracts secured late
in FY26 are expected to contribute predominantly in FY27
and beyond.
During the year, Scott became increasingly deliberate about
where and how MHL competes.
Building on an established position in end-of-line automation,
particularly across the global potato industry, the domain
broadened its focus into adjacent sectors, including meat,
dairy, bakery and snacks, while expanding across Europe,
North America and Australia.
“Over the past year we’ve become much more deliberate
about where we compete and how we take our MHL
capability to the global market. We’re focusing our resources
on the customers, verticals and geographies where we
believe Scott has the strongest position, while broadening our
ecosystem,” said Aaron Vanwalleghem, President of Materials
Handling & Logistics.
That strategy translated into a broad range of new and repeat
customer opportunities during FY26, including projects
with PepsiCo, Danone, Essity, EMPWR and Farm Frites. The
business also secured mobile automation work with Boeing
and Gallo in the United States, extending Scott’s Automated
Guided Vehicle (AGV) capability beyond traditional food
processing environments.
“These wins demonstrate the versatility of our MHL
business across a range of industries, from food
and beverage through to advanced manufacturing,”
Vanwalleghem said “our systems are increasingly being
adopted to deliver consistent, reliable performance in
complex manufacturing environments, where precision,
safety and integration are critical.”
For Scott, however, geographic and sector expansion is only
one part of the MHL growth strategy. An important focus
during FY26 was the continued evolution towards a more
modular, repeatable product platform.
Scott's automated case turning system orientates products ahead of palletisation, helping deliver efficient, high-throughput operations.
”As MHL expands, each new
system also adds to Scott’s
installed base and the opportunity
to support customers beyond the
initial project"
Annual Report 2026
Page 21

Scott has brought its palletising capability together under
NexPAL, its AGV portfolio under NexBOT, with MAESTRO+
providing the common software and intelligence layer.
Together, the platforms form the basis of a more unified end-
of-line proposition.
The aim is to avoid repeatedly engineering similar solutions
from the ground up where proven architectures already exist.
The platform approach is designed to support faster delivery,
greater internal efficiency, reduced execution risk and more
predictable implementation for customers.
As MHL expands, each new system also adds to Scott’s
installed base and the opportunity to support customers
beyond the initial project.
Service, upgrades, software, optimisation and ongoing
technical support are increasingly important parts of the
commercial model. New contract activity across FY26
expanded that installed base across multiple sectors and
geographies, creating further opportunity for Lifecycle
Services in future periods.
“The value of a project will not end at commissioning. As our
installed base grows, we have an opportunity to stay much
closer to customers, helping them maintain performance,
optimise their systems and respond as their production
requirements change. That creates better outcomes for the
customer and a stronger long-term business for Scott,” added
Aaron Vanwalleghem.
Looking ahead, the MHL opportunity is increasingly defined
by the cumulative effect of this work: a broader addressable
market, deeper relationships with global customers, an
increasingly scalable technology platform and a growing
installed base capable of supporting both future project
activity and Lifecycle Services.
“We have a strong foundation and a much clearer view
of where we want to grow. The focus now is execution,
taking proven capability into the right markets, delivering
consistently for our customers and building an MHL business
that can scale globally,” concludes Aaron Vanwalleghem.
”Scott became increasingly
deliberate about where and how
MHL competes"
“We operate in complex environments where customers
need flexibility but that doesn’t mean every project needs to
start with a blank sheet of paper. We take the engineering
knowledge we already have and we build it into proven
platforms and then configure those platforms around the
customer’s operation,” said Aaron Vanwalleghem.
Shortly after year-end, Scott launched the NexPAL 200HL, a
compact palletiser designed for manufacturers seeking higher
production capacity within constrained factory footprints.
The system can palletise more than 35 cases per minute,
while occupying a footprint approximately 25% smaller than
comparable solutions.
“Our customers are looking for ways to increase capacity
with limited impact on their physical footprint. With the
NexPAL 200HL, we focused on putting substantial palletising
capacity into a much smaller space without compromising
performance,” Vanwalleghem said.
The product also illustrates the more market-led approach
Scott is taking to innovation, with R&D increasingly directed
towards opportunities identified through customer
requirements, market analysis and clearly defined operational
constraints.
AGV site acceptance testing in USA.
Major MHL system in North America.
Scott Technology Limited
Page 22

GENTLE HANDLING AT INDUSTRIAL SCALE
Slovenian ice cream producer Incom Leone operates a
complex, high-throughput environment manufacturing
3.2 million ice creams per day. The high throughput
must be balanced with careful product handling and
strict temperature control.
For Scott, the project demonstrates the MHL strategy
in action building on its historic strength in end-of-line
automation for potato processing by expanding into
adjacent fast moving consumer goods sectors such as —
and in this case dairy - while applying proven automation
capability to the specific constraints of each customer.
When Incom Leone began evaluating automated
palletising, one of its biggest concerns was protecting
the finished product throughout the handling process.
“I explained that our products need to be handled very
carefully. If the cartons are moved too roughly, the
chocolate coating on the ice cream can crack. Scott
showed us the in-line case turner and the complete
carton handling system. After that, we were confident
that our products would be handled gently,” says Boštjan
Kirn, Technical R&D Manager at Incom Leone.
The solution brings cartons from 15 production lines into
one central palletising room, where two high-speed
palletisers automatically build the finished pallets.
Maintaining the cold chain was equally important.
“On some of our production lines, especially the ice
cream bar lines, it can take up to 30 minutes to collect
enough cartons for one pallet. The products stay at
15
ACTIVE PRODUCTION
LINES FEED TWO HIGH-
SPEED PALLETISERS
3.2m
ICE CREAMS
PRODUCED
E AC H DAY
-20 degrees during accumulation, and the products
from all of these lines are transported to one central
palletising room, where two high-speed palletisers
automatically build all the pallets.”
The system is fully integrated with Incom Leone’s Enterprise
Resource Planning (ERP) and Supervisory Control and Data
Acquisition (SCADA) environments, providing visibility across
the process, while supporting consistent handling and
pallet quality. Strategically, the project is a useful example
of the direction Scott is taking within MHL: applying proven
automation platforms to new customer applications and
sectors, creating reference sites and expanding an installed
base that can support future Lifecycle Services' recurring
revenue opportunities.
“This project has made a big difference for us. Today, we
have 15 production lines where the cartons are handled
carefully through the entire palletising process. So far,
the Scott system has been very reliable. It has improved
efficiency, reliability and product quality, while also making
the work easier for our employees.”
AGV site acceptance testing in USA.
VOICE OF CUSTOMER
Annual Report 2026
Page 23

PROTEIN: TOWARDS NEW TARGETS
Protein delivered a resilient top-line performance in
FY26, with revenue of $67.3 million, approximately 3%
below FY25. Against a challenging global environment
and continued caution around major customer capital
investment, FY26 became an important year for defining
how the business returns to sustainable, profitable growth.
Under Destination 2030, Scott finalised a new strategic
roadmap for Protein targeting $165 million of annual revenue
by FY30, more than double the $69.4 million recorded in FY25.
The pathway centres on scaling differentiated technologies into
larger addressable markets, expanding into new geographies and
building greater recurring value around Scott’s installed base.
“The opportunity in Protein is significant. We need to
concentrate our investment where Scott has genuine
differentiation, scale those technologies into larger markets
and build a more profitable business around the equipment we
already have in the field,” said Mark Host, President of Protein.
Scott’s established lamb automation capability remains an
important foundation for that strategy.
During FY26, Scott secured a second LEAP automated lamb
primal processing system for a major Australian processor. The
order brings Scott’s LEAP footprint to 22 systems across New
Zealand, Australia and the UK, a significant presence in the
processing infrastructure of three major lamb markets. A single
advanced primal line is designed to process up to 600 carcasses
an hour, applying precise decisions at a pace that matters to the
output of an entire plant.
LEAP combines robotics, X-ray and vision systems with real-
time decision-making to manage the natural variability inherent
in meat processing. The technology is designed around some
of the industry’s most persistent challenges: labour scarcity,
consistent yield, throughput and workplace safety.
The opportunity now is to take that underlying capability further.
Scott is progressing the application of its automation technology
into beef, a substantially larger global red meat category.
“Our strategic focus now is to accelerate this technology across
other red meat markets, including beef,” Host said. “What
gives us confidence is that we are not starting from zero. We
have spent years solving the difficult problem of automating
a naturally variable product. The next step is applying that
knowledge, sensing capability and processing intelligence to a
broader market.”
Scott is also continuing to build across poultry, where automated
trussing systems have been deployed with processors, including
Lincoln Premium Poultry and Maple Lodge Farms. Together,
lamb, beef and poultry provide several pathways for Scott to
apply its processing expertise across different parts of the global
protein industry.
BladeStop represents another important growth platform.
Scott’s FY30 strategy is focused on expanding the BladeStop
installed base through new geographies and vertical markets,
while increasing the contribution from service agreements,
spare parts, preventative maintenance and software. BladeStop
Connect is extending the platform further by giving customers
access to operational, productivity and safety-event data.
FY26 provided an early example of how that expansion model
can work. Scott appointed AERSA as its authorised BladeStop
distributor in Mexico, giving the business an established local
route to market supported by customer relationships, technical
service, training, preventative maintenance, safety-system
validation and spare parts.
Automated lamb primal system
installation at JBS Cobram, Australia.
”...Scott finalised a new strategic
roadmap for Protein targeting $165
million of annual revenue by FY30"
“Mexico represents an attractive growth opportunity for
BladeStop but entering a new market takes more than selling
equipment. Customers need local relationships, technical
capability, training, parts and ongoing service, and AERSA gives
us that from day one,” Host said.
That approach reflects a broader shift in how Scott intends to
grow the protein market. The objective is not simply to place
more machines into the market but to establish the service,
technical capability and customer relationships required to
support those systems throughout their operating lives.
For FY27 and beyond, the priorities are clear: return Protein
to sustainable growth, continue growing the established lamb
automation business, advance the opportunity in beef, accelerate
BladeStop’s international expansion and build greater Lifecycle
Services and software revenue around the installed base.
“We now have a much clearer view of where we want to
compete and what each of our technology platforms needs to
achieve. We now need to be converting that focus into customer
outcomes, profitable growth and a larger recurring relationship
with the customers we serve.”
The pathway is increasingly defined — build from technologies
Scott already knows work, apply them to larger markets and
geographies and create deeper long-term value around every
system deployed.
Scott Technology Limited
Page 24

BEYOND COMMISSIONING: BUILDING A
LONG-TERM AUTOMATION PARTNERSHIP
In 2025, Maple Lodge Farms became Scott’s first Canadian
customer for its Automated Poultry Trussing technology,
selecting two trussing lines for its Brampton facility. Each
unit can process up to 24 birds per minute, delivering
a fully trussed bird every 2.5 seconds, while reducing
reliance on a repetitive, labour-intensive process and
supporting more consistent production. The project
moved quickly.
“What stood out to us was how closely the Scott team
worked with our operation. They completed the installation
over a weekend and had the system up and running the
following week, with very little disruption to production,”
said Cameron Howe, Senior Manager – Process Innovation,
Maple Lodge Farms.
The relationship has continued well beyond commissioning.
Maple Lodge Farms is supported through a Service level
agreement (SLA) and ongoing technical support, while
Scott has also introduced a remote camera-monitoring
system — the first deployment of this capability within its
Protein business — providing greater visibility of equipment
performance and enabling faster remote support.
“The ongoing support through the SLA and remote
monitoring capability has given us confidence that Scott
13
LINES INSTALLED
ACROSS NORTH
AMERICA SINCE 2021
1.5m
BIRDS PROCESSED
PER WEEK ON A
SCOTT SYSTEM
is there for the long term, not just for the installation,”
Howe added.
For Scott, the project reflects what Customer First means
in practice: understanding the customer’s operating
environment, delivering with minimal disruption and
supporting performance throughout the lifecycle of the
equipment.
“Automation is helping us build greater capacity and
consistency into the operation. We see technology like this
playing an increasingly important role in how we improve
safety, efficiency and our ability to serve customers as the
business grows,” Howe said.
Scott’s installation team in Canada, with Cameron Howe (right),
following the installation of an automated poultry trusser.
VOICE OF CUSTOMER
Annual Report 2026
Page 25

Developing appliance line in Scott China .
Scott Technology Limited
Page 26

Appliance delivered another solid year in FY26, with
revenue increasing approximately 11% to $34.7 million,
while maintaining a strong contribution to Group
earnings. Growth was supported by steady delivery
across key-account projects.
Recurring revenue was $5.1 million in FY26, representing
15% of Appliance revenue, compared with $7.0 million and
22% in FY25. The movement largely reflects the timing of
major equipment upgrades, while the growing installed base
continues to create opportunities across service, parts and
future upgrade programmes.
“Recurring revenue can factor on the timing of major
upgrades, but the underlying opportunity remains significant.
As we continue to grow the installed base, we are creating
more opportunities to support customers over the life of
their equipment through service, upgrades and technical
support,” says Cathy (Yan) Zhang, Regional Director – China.
The domain is also assessing how its established capability
in sheet-metal forming, assembly and integrated production
systems can be applied selectively beyond traditional appliance
manufacturing. Importantly, this is not a move into an entirely
new capability area; it is about identifying adjacent applications
where Scott can use existing engineering expertise, resources
and infrastructure with limited additional risk.
“We already have deep capability in forming, assembly and
integrated production systems. The opportunity is to apply
that expertise selectively where there is a strong technical fit
and where we can support the customer over the lifecycle of
the equipment. We will remain disciplined about where we
pursue those opportunities.”
The opportunity also differs by region. Asia is expected
to contribute through a mix of new projects and Lifecycle
Services, North America through both new installations and
upgrades to established equipment, while South and Latin
America remain focused on new capacity investment. In
Europe, the emphasis is more selective, with opportunities
centred on equipment retrofits and upgrades. Scott’s global
operating model allows technology, engineering capability
APPLIANCE: EXPANDING
BEYOND THE CORE MARKETS
RECOGNISED BY
WHIRLPOOL LATIN AMERICA
Whirlpool’s supplier philosophy is built around long-
term, collaborative relationships based on trust,
transparency, quality and dependability. Its Global
Strategic Sourcing organisation looks for suppliers
that add value, deliver consistently against their
commitments and contribute innovation and quality to
Whirlpool’s operations.
In 2026, Scott Technology was recognised at the Whirlpool
Latin America Supplier Conference in São Paulo, receiving
a Latin American Region Global Strategic Sourcing Supplier
Excellence Award. The conference brought Whirlpool’s
strategic suppliers together
under the theme “Shaping
Competitiveness, Evolving
to Win”, with a focus on
closer collaboration,
continuous improvement,
innovation and quality
across the supply chain.
”The domain is also assessing how its
established capability in sheet-metal
forming, assembly and integrated
production systems can be applied
selectively beyond traditional
appliance manufacturing"
and service approaches to be replicated across regions as
multinational customers expand.
Looking ahead, Appliance will continue strengthening its
core business through deeper key-account relationships,
improved engineering and delivery efficiency and stronger
regional service capability. Increased modularisation, global
collaboration and AI-enabled engineering tools are also
expected to support productivity and more scalable delivery,
while adjacent opportunities will be pursued selectively and
with a disciplined, low-risk approach.
VOICE OF CUSTOMER
Annual Report 2026
Page 27

CELEBRATING LONG SERVICE
Scott’s success is built on the experience, commitment and
knowledge of our people. Across the Group, 12% of team members
have been with Scott for more than 20 years, representing an
extraordinary depth of capability and institutional knowledge across
our global business.
Among them are 13 people who began their Scott careers in 1985
or earlier — a remarkable contribution spanning more than
four decades of change, growth and innovation. Their long
service reflects not only individual dedication but the enduring
relationships, expertise and culture that have helped shape Scott
into the business it is today. We thank and celebrate them.
12 %
TEAM MEMBERS
SERVING MORE
THAN 20 YEARS
5.4K
YEARS
OF COMBINED SCOTT
EXPERIENCE
Scott Technology Limited
Page 28

Congratulations on
achieving 20+ years at Scott:
Adrian Lavendar, NZ
Alan Dickie, NZ
Andrew Arnold, NZ
Anja De Croock, BE
Aaron Vanwalleghem, BE
Bert Botteldoorn, BE
Bert De Visscher, BE
Bill Maxwell, NZ
Brian Rekittke, NZ
Bruno Van Mol, BE
Bryan Grimshaw, NZ
Catherine Robert, FR
Cindy Van Coster, BE
Colin Craig, NZ
Craig Dobson, NZ
Craig McNamara, NZ
Christophe Declercq, BE
Cyrille Jean Precetti, FR
Dave Armstrong, NZ
Dave Merrilees, NZ
Debbie Thorn, NZ
Dominique Van Daele, BE
Eddy Vandesompele, BE
Emmy Bekaert, BE
Eoin Foster, NZ
Fabrice Le Devendec, FR
Frank Dhondt, BE
Frédéric Hermier, FR
Gary Tarleton, NZ
Geert Vandenbossche, BE
Isabelle De Meulemeester, BE
Iva Ryšavá, CZ
Ives Vernaeckt, BE
Jan Zechmeister, CZ
Jaroslav Herzán, CZ
Jitka Pregrtová, CZ
Joel Wilson, NZ
Johan Van der Eecken, BE
John Dalzell, NZ
John Thomson, NZ
Johnny Marshall, NZ
Josef Dobrovolný, CZ
Karel Bařina, CZ
Karl Miller, NZ
Klaas Bauwens, BE
Kristel Dekeyser, BE
Kurt De Koker, BE
Kurt Verschelden, BE
Larry Bell, NZ
Lennart Johansson, US
Luc Cordier, BE
Loïc Madigou, FR
Mark Seaton, NZ
Martin Hradský, CZ
Mary Aberhart, NZ
Nick Stanford, AU
Patrick Dekens, BE
Patrick Lefebvre, BE
Paul Boyes, NZ
Paul De Priester, BE
Pavel Maincl, CZ
Robert Stiteler, US
Ronald Maerevoet, BE
Ronan Dervin, FR
Rolf Winkler, BE
Ryszard Czuba, BE
Simon Gibson, NZ
Simon Thrupp, NZ
Šárka Stávková, CZ
Stephan Hove, BE
Steve Henshaw, NZ
Steve Plowright, NZ
Steve Wilson, NZ
Vladislava Trlicová, CZ
Warren Gibson, NZ
Wesley Van Cauwenberghe, BE
Wim Nelen, BE
Yves Deseyn, BE
8.8
YEARS
AVER AG E
TENURE

31%
OF OUR TEAM
HAVE SERVED
10+ YEARS
13
TEAM MEMBERS
STARTED AT SCOTT PRE
1985
Annual Report 2026
Page 29

ALIGNING ESG WITH DESTINATION 2030
During FY26, Scott continued to evolve its approach to
sustainability, with a greater emphasis on ensuring ESG
activity supports the execution of Destination 2030. As
the business grows, sustainability priorities increasingly
need to connect with the issues that matter to Scott’s
customers, people, operations and long-term resilience.
During the year, Scott began refocusing its sustainability
programme around five areas: GHG Emissions, Customer
Experience, Employee Value Proposition, Enterprise Risk and
Sustainability Driven Innovation.
The direction reflects a broader shift from treating
sustainability as a standalone programme, towards
embedding relevant environmental, social and governance
(ESG) considerations into the way Scott makes strategic and
operational decisions.
“For us, sustainability needs to be connected to the
strategy rather than sitting alongside it. As Scott grows,
we need to be clear about the areas that genuinely matter
to the resilience of the business, our customers and our
people and concentrate our effort there,” said Scott
Hawkins, Co-CFO.
Scott's Lifecycle Services teams work alongside customers to maintain, optimise and extend the life of their equipment.
Progress on Emissions
Scott remains on track towards its target of reducing Scope
1 and 2 emissions by 30% by 2030, against a FY22 baseline.
In FY26, Group Scope 1 and 2 emissions totalled 1636 tonnes
CO₂e, a reduction of 4% from FY25 and 13% from FY22.
Performance varied across the Group. Reductions in Europe,
China and Australia were partly offset by higher emissions
in New Zealand and the United States. In New Zealand, a
one-off refrigerant release during contractor works added
approximately 64 tonnes CO₂e to the footprint. Excluding
that event, Scope 1 and 2 emissions would have been
approximately 1572 tonnes CO₂e, around 8% below FY25.
“The overall direction remains positive but the year
also showed why active measurement matters. A single
operational event can have a meaningful impact on the
footprint, so this is not simply about setting a target for 2030,
it is about understanding the drivers underneath the number
and continually adjusting how we operate.”
Scott continued its decarbonisation programme during the year,
including further electrification of its European vehicle fleet
and initial work towards fleet electrification in New Zealand and
China. Energy audits across major sites and further efficiency
initiatives are also planned as the programme develops.
Following changes to New Zealand’s climate reporting
requirements, Scott is no longer classified as a climate-reporting
entity and will no longer publish a separate Climate-related
Disclosure. This does not change our underlying commitment to
climate action. We remain committed to reducing Scope 1 and
2 emissions by 30% by 2030 against our FY22 baseline, while
continuing to monitor climate-related risks and opportunities
and report material progress through our Annual Report.
”If technology improves yield,
reduces waste, lowers energy use
or makes an operation safer, those
outcomes can strengthen both
the customer proposition and the
economics of the investment"
Scott Technology Limited
Page 30

0
200400600800
10001200
FY22
FY23
FY24
FY25
FY26
FY22
FY23
FY24
FY25
FY26
FY22
FY23
FY24
FY25
FY26
FY22
FY23
FY24
FY25
FY26
United S tat es
Ch
ina
Austral ia &

New Zealand
Europe
CO
2
e emissions by region and by scope*
Emissions and Data Source Categorisation
* Graphs not subject to assurance
FY26 Scope 1 emissions by source*CO
2
e emissions Scope 1 & 2 emissions by source*
Emissions
source
Data
source
Methodology, assumptions
and uncertainty
Scope 1 (ISO Category 1)
Transport
fuels
Supplier
invoices /
statements (L)
Activity based. Assumes data
in supplier invoices is free from
error. Uncertainty
impact low.
Transaction
records ($)
Where litre (L) data does not
exist, quantity is assumed based
on annual average price of fuel
($ or Euro / L). Low uncertainly
impact.
Stationary
fuels
Supplier
invoices /
statements (m3,
kWh, Therms,
kg or L)
Activity based. Assumes data
in supplier invoices is free from
error. Uncertainty
impact low.
Fugitive
emissions
– welding
gases
Supplier
invoices /
statements (kg)
Activity based. Assumes data
in supplier invoices is free from
error. Uncertainty impact low.
Fugitive
emissions
– refriger-
ant gases
Service
provider
invoices or
service records
(kg)
Activity based. Assumes top-up
quantity is equal to quantity lost
and data in invoices / service
records is free from error.
Uncertainty impact low.
Scope 2 (ISO Category 2)
Purchased
electricity
– sites
Supplier
invoices /
statements
(kWh)
Location based. Uncertainty low
as data is from meters and likely
to be free from error. Country-
specific emissions factors have
been used for New Zealand,
Europe and China. State
emissions factors have been
used for Australia and US.
Company
Cars
66%
Diesel
for
heating
1.1%
Gas for
heating
27%
Lost
refrigerant
gases
6%
Welding
gases
0.1%
Forklifts
0.5%
Transport f uelStationar y fuelFugitive e missionsElectricity
764
670
808
735
678
276
44
1
1
3
65
265
318
280
286
787
737
760
686
607
FY22FY23FY24FY25FY26
Transport f uelStationar y fuelFugitive e missionsElectricity
764
670
808
735
678
276
44
1
1
3
65
265
318
280
286
787
737
760
686
607
FY22FY23FY24FY25FY26
Scope 1
Scope 2
Annual Report 2026
Page 31

Connecting Sustainability with Customers
A significant focus in FY26 was bringing sustainability
considerations more directly into Scott’s Customer Experience,
Key Account Management and Lifecycle Services programmes.
As Scott builds deeper relationships around its installed base,
understanding the sustainability outcomes valued by customers
can increasingly inform both how existing equipment is
supported and where future technology investment is directed.
“Our customers are facing many of the same pressures we
are: productivity, energy use, workforce safety, resilience
and increasingly their own sustainability commitments. The
opportunity is to understand where Scott can contribute to those
outcomes and make that part of the broader value we deliver
over the life of the customer relationship,” said Scott Hawkins.
That approach also creates a stronger connection between
customer insight and Scott’s innovation pipeline.
Sustainability Driven Innovation
Scott already contributes to outcomes, including improved
workplace safety, increased yield, lower waste and more
efficient use of energy and resources.
Under the evolving Innovation Framework, sustainability
considerations are expected to become an input into
investment decisions alongside commercial returns, with
customer needs helping determine where new development
activity can create both business and sustainability value.
The objective is not to create a separate category of
'sustainable products'. Instead, Scott intends to incorporate
sustainability requirements into the development process
itself, improving existing technologies and identifying new
applications where automation can help customers operate
more safely, efficiently and resiliently.
“Good innovation should solve a real customer problem and
create a commercial return. Increasingly, sustainability can
be part of that same equation. If technology improves yield,
reduces waste, lowers energy use or makes an operation
safer, those outcomes can strengthen both the customer
proposition and the economics of the investment.”
Strengthening Governance and Risk
FY26 also saw continued development of Scott’s enterprise
risk framework, including greater integration of ESG-related
risks and opportunities. Working with its sustainability partner
Tadpole, the business completed a gap analysis to inform
its approach to modern slavery, considering both customer
requirements and proposed New Zealand regulation. Findings
from that work will inform the FY27 programme.
Scott also continued monitoring the 18 climate-related risks
and opportunities identified through its FY25 climate reporting.
Work in FY27 is expected to refine those risks and incorporate
them more directly into business strategy and transition
planning. The sustainability committee continues to provide
quarterly updates through the Audit and Risk Committee
governance process.
“As Scott becomes larger and more global, the governance
around these issues needs to mature with the business. The
objective is making sure emerging risks are understood early,
decisions are properly informed and the business remains
resilient as expectations from customers, regulators and
investors continue to evolve.”
Looking Ahead
The focus for FY27 is to continue embedding these priorities
into Destination 2030: maintaining progress towards Scott’s
emissions target, strengthening ESG governance, connecting
sustainability more closely with customer and innovation
programmes and ensuring the business has the capability to
support growth responsibly.
“Destination 2030 is a growth strategy supported by the right
governance, the right understanding of risk and disciplined
decisions about where we invest. Sustainability is increasingly
part of that picture.”
”For us, sustainability needs to be
connected to the strategy rather
than sitting alongside it"
WOMEN IN ENGINEERING
For the fourth year, Scott Technology is partnering with
the University of Canterbury to support more women
into engineering through the Scott Women in Engineering
Scholarship and Internship Programme.
The initiative combines financial support, mentoring and
paid work experience, helping students connect academic
study with real-world engineering and broaden pathways
into the profession.
This year’s recipient, third-year Mechanical Engineering
student Liv Deane, says the opportunity reflects both
recognition and practical experience. “Receiving this
scholarship means a lot to me. It’s recognition of the work
I’ve put in, and it shows that Scott believes in me.”
For Liv, the summer internship is a particular highlight. “I
hope to build a career in automation and innovation, and I
know that learning how Scott designs, builds, and delivers
its solutions will give me skills and experience I can carry
into that path.”
SCHOLARSHIP
Scott Technology Limited
Page 32

HEALTH & SAFETY
Health and Safety is central to how we operate and is
underpinned by our commitment to caring for each other.
During FY26, we continued to strengthen our Health,
Safety, Wellbeing and Environment (HSWE) approach,
building on the systems, standards and leadership
practices established in the prior year.
The increase in injury rates compared with FY25 was
disappointing, with the total recordable injury frequency rate
(TRIFR) increasing to 14.22 and the lost time injury frequency
rate (LTIFR) increasing to 7.58. To note: these results should
be considered in the context of the clearer expectations and
more consistent reporting standards introduced in FY25. The
improved visibility is giving us better data and insights and a
clearer basis for targeted action to prevent injuries.
Four-year Plan
We have built a four-year plan with the objective of moving
our safety culture from compliance to commitment. The
pillars of the plan define our key workstreams and set out
how we will progressively embed caring for each other into
the way we lead, work and make decisions.
The four-year plan will move safety beyond compliance by:
• Shifting mindsets so safety is treated as a value, not simply
a priority
• Developing stronger and more visible safety leadership
• Enabling frontline teams to take ownership of the
pragmatic solutions they help design and own
• Strengthening how we manage critical risks, including
clearer controls and verification.
This will be supported by stronger accountability across
all levels of Scott and a more consistent One Scott way of
working. In the first year of the four-year plan, we will focus
on redefining how we manage change to support a more
consistent One Scott approach and manage risk through
a stronger understanding of critical risks, critical controls
and the consequences of failure. We will also create more
meaningful leadership engagement and strengthen the
effectiveness of our safety committees.
Core to achieving this will be co-designing these elements
with our frontline teams. Through these actions, FY27 will
be about turning the plan into practice, strengthening
ownership, improving the quality of engagement and
enabling earlier intervention to prevent injuries. This is where
we begin to move beyond compliance and towards a more
deeply embedded safety culture.
We uphold Scott’s safety standards wherever we work, including at our customers’ sites.
Annual Report 2026
Page 33

A major automated storage and retrieval system delivered by Scott’s Materials Handling & Logistics team for a customer in North America.
Scott Technology Limited
Page 34

KEY
Accounting policy
Key judgements and
other judgements made
Index to the Financial Statements
C. Capital and funding
64
C1. Share capital64
C2. Earnings and net tangible assets per share64
C3. Borrowings65
C4. Trade creditors and accruals66
C5.Leases67
C6. Employee benefits69
C7. Provision for warranty69
C8. Performance-based compensation70
C9. Onerous contract provision70
D. Risk management71
D1. Financial instruments71
E. Group structure and subsidiaries77
E1. Subsidiaries77
E2.
Investments accounted for using
the equity method78
E3. Related party transactions79
F. Other disclosures80
F1. Notes to the consolidated statement of
cash flows
80
F2. Contingent liabilities81
F3. Key management personnel compensation81
F4. Subsequent events81
Independent auditor’s report
82
Consolidated statement of comprehensive income36
Consolidated statement of changes in equity37
Consolidated balance sheet38
Consolidated statement of cash flows39
Notes to the consolidated financial statements40
Summary of accounting policies40
A. Financial performance43
A1.
Revenue from contracts with
customers and operating expenses
43
A2. Income taxes48
A3. Segment information51
B. Assets53
B1. Trade debtors53
B2. Inventories54
B3. Contract assets / liabilities55
B4. Property, plant and equipment56
B5. Goodwill57
B6. Intangible assets60
B7. Research and development costs62
B8. Development assets62
For the year ended 31 August 2026
FINANCIAL
REPORT
A major automated storage and retrieval system delivered by Scott’s Materials Handling & Logistics team for a customer in North America.
Annual Report 2026
Page 35

20262025
Notes$'000$'000
RevenueA1
294,116 275,273
Other operating incomeA1
1,714 1,715
Share of joint ventures’ net surplus / (deficit)E2
(76) 248
Raw materials, consumables used and operating expensesA1
(172,029) (159,320)
Employee benefits expense
(87,628) (86,377)
OPERATING EARNINGS BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION, AND NON-RECURRING COSTS (OPERATING EBITDA)
36,097 31,539
Non-recurring costs (1,245)
-
OPERATING EARNINGS BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (EBITDA)
34,852 31,539
Interest revenue 208 365
Depreciation and amortisationB4, B6, B8, C5 (11,671) (10,731)
Finance costs (3,464) (3,772)
NET PROFIT BEFORE TAX 19,925 17,401
Taxation expenseA2 (4,254) (3,188)
NET PROFIT FOR THE YEAR AFTER TAX 15,671 14,213
Other Comprehensive Income
Items that may be reclassified to profit or loss:
Translation of foreign operations 3,192 4,989
TOTAL COMPREHENSIVE INCOME FOR THE YEAR NET OF TAX 18,863 19,202
Total net profit / (loss) for the year after tax is attributable to:
Members of the parent entity (used in the calculations of earnings per share) 15,590 14,371
Non-controlling interests 81 (158)
15,671 14,213
Total comprehensive income / (loss) is attributable to:
Members of the parent entity 18,782 19,360
Non-controlling interests 81 (158)
18,863 19,202
Notes Cents per shareCents per share
Earnings per share to shareholders from continuing operations
(weighted average shares on issue):
BasicC2 18.5 17.4
DilutedC2 18.5 17.4
The accompanying notes form part of and are to be read in conjunction with these financial statements.
For the year ended 31 August 2026
CONSOLIDATED STATEMENT
OF COMPREHENSIVE INCOME
Scott Technology Limited
Page 36

For the year ended 31 August 2026
Fully paid
ordinary
shares
Retained
earnings
Foreign
currency
translation
reserve
Non-
controlling
interestsTotal
Notes$’000s$’000s$’000s$’000s$’000s
Balance at 31 August 2024 90,516 22,832 (1,119) (508) 111,721
Net profit for the year after tax - 14,371 - (158) 14,213
Other comprehensive (loss) for the year net of tax - - 4,989 - 4,989
Dividends paid (6.0 cents per share) - (5,086) - - (5,086)
Issue of shares under dividend reinvestment planC1 3,437 - - - 3,437
Balance at 31 August 2025 93,953 32,117 3,870 (666) 129,274

Net profit for the year after tax - 15,590 - 81 15,671
Other comprehensive income for the year net of tax - - 3,192 - 3,192
Dividends paid (9.0 cents per share) - (7,325) - - (7,325)
Issue of shares under dividend reinvestment planC1 4,415 - - - 4,415
Balance at 31 August 2026 98,368 40,382 7,062 (585) 145,227
The accompanying notes form part of and are to be read in conjunction with these financial statements.
CONSOLIDATED STATEMENT
OF CHANGES IN EQUITY
Annual Report 2026
Page 37

CONSOLIDATED BALANCE SHEET
As at 31 August 2026
20262025
Notes$’000s$’000s
Current assets
Cash and cash equivalents 15,039 12,152
Trade debtorsB1 60,143 59,607
Other financial assetsD1 1,018 503
Sundry debtors 14,994 5,938
InventoriesB2 42,155 38,842
Contract assetsB3 41,002 28,268
Taxation receivable - 1,275
Assets held for sale - 762
TOTAL CURRENT ASSETS
174,351 147,347
Non-current assets
Property, plant and equipmentB4
20,311 21,097
Investment in joint venturesE2
1,039 1,115
Other financial assetsD1
103 9
Sundry debtors
951 1,966
GoodwillB5
54,926 53,902
Deferred taxA2
1,024 374
Intangible assetsB6
2,799 2,569
Development assetsB8
13,439 10,853
Right-of-use assetsC5
26,048 30,336
TOTAL NON-CURRENT ASSETS
120,640 122,221
TOTAL ASSETS
294,991 269,568
Current liabilities
Bank overdraft
8,909 10,096
Trade creditors and accruals
C4 46,439 38,562
Lease liabilities
C5 6,681 5,622
Other financial liabilities
D1 837 511
Contract liabilities
B3 36,104 30,746
Employee entitlements
C6, C8 11,835 11,350
Provision for warranty
C7 627 1,118
Taxation payable
1,593 -
Borrowings
C3 2,915 2,045
Onerous contracts provision
C9 62 89
TOTAL CURRENT LIABILITIES
116,002 100,139
Non-current
liabilities
Other financial liabilities
D1 58 9
Employee entitlements
C6, C8 654 714
Lease liabilities
C5 22,119 27,167
Borrowings
C3 10,931 12,265
TOTAL NON-CURRENT LIABILITIES
33,762 40,155
TOTAL LIABILITIES
149,764 140,294
Equity
Share capital
C1 98,368 93,953
Retained earnings
40,382 32,117
Foreign currency translation reserve
7,062 3,870
Equity attributable to equity holders of the parent
145,812 129,940
Non-controlling interests
(585) (666)
TOTAL EQUITY
145,227 129,274
TOTAL LIABILITIES AND EQUITY
294,991 269,568
The accompanying notes form part of and are to be read in conjunction with these financial statements.
Scott Technology Limited
Page 38

20262025
Notes
$’000s$’000s
Cash flows from
operating activities
Cash was provided from / (applied to):
Receipts from operations 287,024 260,421
Interest received 207 364
Payments to suppliers and employees (261,432) (235,604)
Taxation paid (2,036) (2,881)
Net cash inflow from operating activitiesF1 23,763 22,300
Cash flows to
investing activities
Cash was provided from / (applied to):
Purchase of property, plant, equipment and intangible assetsB4, B6 (3,512) (2,621)
Sale of property, plant and equipment 383 457
Purchase of development assetB8 (3,373) (1,526)
Net cash (outflow) from investing activities (6,502) (3,690)
Cash flows to
financing activities
Cash was provided from / (applied to):
Repayment of borrowings (13,702) (3,625)
Dividends paid (less amount reinvested in the dividend reinvestment
scheme)
(2,910) (1,649)
Proceeds from borrowings 13,099 4,758
Lease payments (6,170) (4,967)
Interest paid (3,504) (3,746)
Net cash (outflow) from financing activities (13,187) (9,229)
Net increase in cash held 4,074 9,381
Add cash and cash equivalents at start of year 2,056 (7,325)
Balance at end of year 6,130 2,056
Comprised of:
Cash and cash equivalents 15,039 12,152
Bank overdraft (8,909) (10,096)
6,130 2,056
The accompanying notes form part of and are to be read in conjunction with these financial statements.
CONSOLIDATED STATEMENT
OF CASH FLOWS
For the year ended 31 August 2026
Annual Report 2026
Page 39

The accounting policies set out below have been applied
in preparing the financial statements for the year ended 31
August 2026 and the comparative information presented in
these financial statements for the year ended 31 August 2025.
There have been no changes in accounting policy during the year.
The information is presented in thousands of New Zealand
dollars, which is the functional currency of the company and
the presentation currency of the Group.
Critical Judgements, Estimates and
Assumptions
In the application of NZ IFRS the Directors are required
to make judgements, estimates and assumptions about
carrying values of assets and liabilities that are not readily
apparent from other sources. The estimates and associated
assumptions are based on historical experience and various
other factors that are believed to be reasonable under the
circumstances, the results of which form the basis of making the
judgements. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on
an ongoing basis. Revisions to accounting estimates are
recognised in the period in which the estimate is revised if
the revision affects only that period or in the period of the
revision and future periods if the revision affects both current
and future periods.
Judgements made by the Directors in the application of NZ IFRS
that have significant effects on the financial statements and
estimates with a significant risk of material adjustments in the
next year include:
• Estimating the percentage of completion for systems
contracts (note A1)
• Provisions for losses relating to contract assets (note B3)
• Goodwill impairment (note B5)
• Capitalisation and useful lives of development assets
(note B8).
Statement of Compliance
The consolidated financial statements presented are those
of Scott Technology Limited (‘Company’) and its subsidiaries
(‘Group’).
The company is a profit-oriented entity, registered in
New Zealand under the Companies Act 1993. The company
is an FMC reporting entity for the purposes of the Financial
Markets Conduct Act 2013 and its annual financial
statements comply with these Acts.
The Group’s principal activities are the design, manufacture,
sales and servicing of automated and robotic production
lines and processes for a wide variety of industries in New
Zealand and abroad.
The financial statements have been prepared in accordance
with New Zealand Generally Accepted Accounting Practice
(‘NZ GAAP’) and, for the purposes of complying with GAAP,
it is a for-profit entity. They comply with New Zealand
equivalents to IFRS Accounting Standards (‘NZ IFRS’) and
other applicable financial reporting standards as appropriate
for profit-oriented entities. The financial statements also
comply with IFRS Accounting Standards (‘IFRS’).
The financial statements were authorised for issue by the
Board of Directors on 22 October 2026.
Basis of Preparation
The financial statements have been prepared on the basis of
historical cost except for the revaluation of certain financial
instruments.
Cost is based on the fair value of the consideration given in
exchange for assets.
Accounting policies are selected and applied in a manner that
ensures that the resulting financial information satisfies the
concepts of relevance and reliability, thereby ensuring that
the substance of the underlying transactions or other events
is reported.
NOTES TO AND FORMING PART
OF THE CONSOLIDATED FINANCIAL
STATEMENTS
SUMMARY OF ACCOUNTING POLICIES
For the year ended 31 August 2026
Scott Technology Limited
Page 40

Notes to and forming part of the consolidated financial statements continued
For the year ended 31 August 2026
SUMMARY OF ACCOUNTING POLICIES
Material Accounting Policies
The principal accounting policies applied in the preparation
of the financial report are set out within the particular note
to which they relate. These policies have been consistently
applied unless otherwise stated.
Consolidation of Subsidiaries
The consolidated financial statements incorporate the financial
statements of the company and entities controlled by the
company and its subsidiaries. Control is achieved when the
company:
• Has power over the investee;
• Is exposed, or has rights, to variable returns from its
involvement with the investee; and
• Has the ability to use its power to affect its returns.
The Group financial statements are prepared by combining the
financial statements of all the entities that comprise the Group,
being the company and its subsidiaries as defined by NZ IFRS
10 Consolidated Financial Statements. Consistent accounting
policies are employed in the preparation and presentation of
the Group financial statements.
All intra-group transactions, balances, income and expenses are
eliminated on consolidation.
On acquisition, the assets, liabilities and contingent liabilities
of a subsidiary are measured at their fair values at the date of
acquisition. Any excess of the cost of acquisition over the fair
values of the identifiable net assets acquired is recognised
as goodwill. Any deficiency of the cost of acquisition below
the fair values of the identifiable net assets acquired (i.e.
discount on acquisition) is credited to profit and loss in the
period of acquisition.
The results of subsidiaries acquired or disposed of
during the year are included in the consolidated statement of
comprehensive income from the effective date of acquisition,
or up to the effective date of disposal, as appropriate.
Standards and Interpretations Effective in the
Current Period
The Group has adopted all mandatory new and amended
standards and interpretations. None had a material impact
on these financial statements.
Standards and Interpretations
in Issue not yet Adopted
At the date of authorisation of the consolidated financial
statements certain new standards and interpretations to
existing standards have been published but are not yet effective
and have not been adopted early by the Group.
Of these, the following are assessed as relevant to the Group:
• NZ IFRS 18 (Presentation and Disclosure in Financial
Statements) — introduces new requirements including a
change in the structure of the profit and loss, management
defined performance measures being included in a note
to the financial statements and enhanced aggregation/
disaggregation clarification. The new standard also amends
the classification in the statement of cash flows.
The amendments will have no material impact on the Group,
other than NZ IFRS 18 for which we are currently assessing the
impact on financial statements disclosures.
Goods and Services Tax and
Value-added Tax ('GST')
All items in the consolidated balance sheet are stated exclusive
of GST, with the exception of receivables and payables,
which include GST. All items in the consolidated statement of
comprehensive income are stated exclusive of GST.
Cash flows are included in the consolidated statement of cash
flows on a net basis. The GST component of cash flows arising
from investing and financing activities that is recoverable from,
or payable to, the taxation authority is classified as operating
cash flows.
Summary of accounting policies continued
Annual Report 2026
Page 41

Notes to and forming part of the consolidated financial statements continued
For the year ended 31 August 2026
Foreign Currencies
The individual financial statements of each Group entity
are presented in the currency of the primary economic
environment in which the entity operates, which is its
functional currency. For the purpose of the consolidated
financial statements, the results and position of each Group
entity are expressed in New Zealand dollars, which is the
functional currency of the company and the presentation
currency for the consolidated financial statements.
In preparing the financial statements of each Group entity,
transactions in currencies other than the entity's functional
currency are recognised at the rates of exchange prevailing
at the dates of the transactions. At the end of each reporting
period, monetary items denominated in foreign currencies are
retranslated at the rates prevailing at that date.
For the purposes of presenting these consolidated financial
statements, the assets and liabilities of the Group's foreign
operations are translated into New Zealand dollars using
exchange rates prevailing at the end of each reporting
period. Income and expense items are translated at the
average exchange rates for the period, unless exchange rates
fluctuate significantly during that period, in which case the
exchange rates at the dates of the transactions are used.
Exchange differences arising, if any, are recognised in other
comprehensive income and accumulated in equity and
attributed to non-controlling interests as appropriate.
Non-GAAP Financial Information
The Group uses earnings / (loss) before interest, tax,
depreciation and amortisation, and non-recurring costs
(Operating EBITDA), earnings / (loss) before interest, tax,
depreciation and amortisation (EBITDA), and Net Tangible
Assets per ordinary shares, to describe financial performance
as it considers these line items provide a better measure of
underlying business performance.
These non-GAAP measures do not have a standard meaning
prescribed by GAAP and therefore may not be comparable to
similarly titled amounts reported by other entities.
Summary of accounting policies continued
Scott Technology Limited
Page 42

Notes to and forming part of the consolidated financial statements continued
For the year ended 31 August 2026
Policy
Revenue on fixed-price contracts is recognised over
the term of the contract period using the input
method based on percentage of completion. At
balance date an assessment is made of the percentage
of completion based on the costs associated with the
work done to date relative to the total forecast cost to
complete. Included in revenue is the value attributed
to work completed, which includes direct costs,
overhead and profit, where this is allowable under the
contract. Scope variations that may potentially lead to
additional revenue are only recognised when certain.
The customer is obligated to pay a fixed amount
when a contractual milestone is met. At this time, a
receivable is recognised as the invoice is raised. If the
revenue recognised by the Group exceeds the amounts
invoiced, a contract asset is recognised. If the amounts
invoiced exceed the revenue recognised, a contract
liability is recognised. The transaction price is the fixed
price per the contract.
The incremental costs to obtain a contract where the
contract period is less than 12 months is expensed to the
profit and loss under the practical expedient provisions of
NZ IFRS 15.
The Group’s obligation to repair or replace faulty products
under the standard warranty terms is recognised as a
provision (see note C7).
SECTION A: FINANCIAL PERFORMANCE
A1. REVENUE FROM CONTRACTS WITH CUSTOMERS AND OPERATING EXPENSES
(a) Accounting policies and significant judgements
The Group derives revenue from the following sources:
• Sales
• Services.
Revenue recognition – sales
The Group designs, manufactures and sells customised automation and robotic systems for use in a wide range of industries
under fixed-price contracts. The contracts are often for periods in excess of twelve months although shorter periods can also
apply. These contracts are specific to each customer and the Group is restricted by these contracts in its ability to redirect
the products to another customer. The Group, through these contracts, has an enforceable right to payment when agreed
milestones are met for performance completed up to that date.
Judgement
The estimation of percentage of completion relies
on the Directors estimating costs to complete
systems contracts. If the costs incurred to complete
the systems contracts differ from the estimates
completed by management, the Directors could be over
or under estimating the percentage of completion on
the project and consequently revenue and profit to date
may also be over or under estimated.


The Group manufactures and sells a range of standalone automation and robotic equipment for use in a wide range of
industries, including:
• Rock crushers, pulverisers, ringmills and reference materials under the 'Rocklabs' brand for use by mining companies
and laboratories
• Bandsaw safety equipment under the 'BladeStop' brand, primarily for use by protein processors.


Annual Report 2026
Page 43

Notes to and forming part of the consolidated financial statements continued
For the year ended 31 August 2026
Policy
Revenue is recognised when products are ready for
pick up, shipped to or received by the customer, or
installed at the customer’s premises, depending on
the terms of the contract.
A receivable is recognised when either a deposit is due
on receipt of a customer’s order or when the products
are shipped to the customer, as this is the point in
Policy
Revenue under service contracts is recognised at
a point in time when the service is delivered or
performed, depending on the terms of the contract.

time that the consideration is unconditional because
only the passage of time is required before the payment
is due.
The Group’s obligation to repair or replace faulty
products under the standard warranty terms is
recognised as a provision (see note C7).

Revenue recognition – services
The Group earns revenue from after sales service activities associated with the equipment manufactured and sold by the
Group, including spare parts, repairs, routine or scheduled maintenance, upgrades, remote monitoring and the operation of
a 24/7 helpline. Most of these activities are on an ad hoc, as required basis, while some of these activities are covered by an
agreement for services to be provided over a specified period of time.

The Group’s obligation to repair or replace faulty
products under the standard warranty terms is
recognised as a provision (see note C7).

Disaggregation of revenue from contracts with customers
The Group derives revenue from the transfer of goods and services over time and at a point in time and reports these by
industry in the following major manufacturing segments and revenue streams. This is consistent with the revenue information
disclosed for each reportable segment under NZ IFRS 8 Operating Segments (see note A3).
Section A: financial performance continued
Scott Technology Limited
Page 44

Notes to and forming part of the consolidated financial statements continued
For the year ended 31 August 2026
Section A: financial performance continued
Year Ended 31 August 2026
ProteinMining
Materials
Handling Appliances Total
$’000s$’000s $’000s $’000s
$’000s
New Zealand
manufacturing
Sales3,026 - - 8,865 11,891
Service5,392 - 5842,916 8,892
Revenue from external customers 8,418 - 584 11,781 20,783
Timing of revenue recognition
- Over time2,942 - - 8,865 11,807
- At a point in time5,476 - 5842,916 8,976
8,418 - 584 11,781 20,783
Rocklabs
manufacturing
Sales - 45,007 - - 45,007
Service - 16,006 - - 16,006
Revenue from external customers - 61,013 - - 61,013
Timing of revenue recognition
- Over time - 3,085 - - 3,085
- At a point in time - 57,928 - - 57,928
- 61,013 - - 61,013
Australia
manufacturing
Sales18,221 - - - 18,221
Service11,043 - 1,311 - 12,354
Revenue from external customers 29,264 - 1,311 - 30,575
Timing of revenue recognition
- Over time14,741 - - - 14,741
- At a point in time14,523 - 1,311 - 15,834
29,264 - 1,311 - 30,575
Americas
manufacturing
Sales6,40251226,4157,498 40,827
Service12,4967329,451 - 22,679
Revenue from external customers 18,898 1,244 35,866 7,498 63,506
Timing of revenue recognition
- Over time66551226,4157,498 35,090
- At a point in time18,2337329,451 - 28,416
18,8981,24435,8667,498 63,506
Europe
manufacturing
Sales6,316 - 66,4733,722 76,511
Service4,374 - 25,626929 30,929
Revenue from external customers 10,690 - 92,099 4,651 107,440
Timing of revenue recognition
- Over time 16 - 66,4733,722 70,211
- At a point in time10,674 - 25,626929 37,229
10,690-92,0994,651 107,440
China
manufacturing
Sales - - - 10,799 10,799
Service - - - - -
Revenue from external customers - - - 10,799 10,799
Timing of revenue recognition
- Over time - - - 10,799 10,799
- At a point in time - - - - -
- - - 10,799 10,799
Total
manufacturing
Sales33,96545,51992,88830,884203,256
Service33,30516,73836,9723,84590,860
Revenue from external customers 67,270 62,257 129,860 34,729 294,116
Timing of revenue recognition
- Over time18,3643,59792,88830,884145,733
- At a point in time48,90658,66036,9723,845148,383
67,27062,257129,86034,729 294,116
Annual Report 2026
Page 45

Notes to and forming part of the consolidated financial statements continued
For the year ended 31 August 2026
Section A: financial performance continued
Year Ended 31 August 2025
ProteinMining
Materials
Handling Appliances Total
$’000s$’000s $’000s $’000s
$’000s
New Zealand
manufacturing
Sales3,432 - - 99 3,531
Service4,645 - 891881 6,417
Revenue from external customers 8,077 - 891 980 9,948
Timing of revenue recognition
- Over time3,187 - - 99 3,286
- At a point in time4,890 - 891881 6,662
8,077 - 891 980 9,948
Rocklabs
manufacturing
Sales - 35,415 - - 35,415
Service - 12,472 - - 12,472
Revenue from external customers - 47,887 - - 47,887
Timing of revenue recognition
- Over time - 5,141 - - 5,141
- At a point in time - 42,746 - - 42,746
- 47,887 - - 47,887
Australia
manufacturing
Sales14,507 - - 296 14,803
Service11,101 - 821 - 11,922
Revenue from external customers 25,608 - 821 296 26,725
Timing of revenue recognition
- Over time11,585 - - 296 11,881
- At a point in time14,023 - 821 - 14,844
25,608 - 821 296 26,725
Americas
manufacturing
Sales11,7992,91829,8807,873 52,470
Service11,8931438,239 - 20,275
Revenue from external customers 23,692 3,061 38,119 7,873 72,745
Timing of revenue recognition
- Over time4,3562,91829,8807,873 45,027
- At a point in time19,3361438,239 - 27,718
23,6923,06138,1197,873 72,745
Europe
manufacturing
Sales8,482 - 58,8471,479 68,808
Service3,566 - 24,4531,047 29,066
Revenue from external customers 12,048 - 83,300 2,526 97,874
Timing of revenue recognition
- Over time - - 58,8471,479 60,326
- At a point in time12,048 - 24,4531,047 37,548
12,048 - 83,3002,526 97,874
China
manufacturing
Sales - - - 20,094 20,094
Service - - - - -
Revenue from external customers - - - 20,094 20,094
Timing of revenue recognition
- Over time - - - 20,094 20,094
- At a point in time - - - - -
- - - 20,094 20,094
Total
manufacturing
Sales38,22038,33388,72729,841195,121
Service31,20512,61534,4041,92880,152
Revenue from external customers 69,425 50,948 123,131 31,769 275,273
Timing of revenue recognition
- Over time19,1288,05988,72729,841145,755
- At a point in time50,29742,88934,4041,928129,518
69,42550,948123,13131,769 275,273
Scott Technology Limited
Page 46

Notes to and forming part of the consolidated financial statements continued
For the year ended 31 August 2026
Revenue recognised in relation to contract liabilities
The following table shows how much of the revenue recognised in the current reporting period relates to carried forward
contract liabilities and how much relates to performance obligations that were satisfied in a prior year.
Revenue recognised included in the contract liability balance at the beginning of the period.
20262025
$’000s$’000s
Fixed-price contracts for long-term projects 16,950 17,260
There was no revenue recognised from performance obligations satisfied in previous periods on long-term projects.
Unsatisfied long-term fixed-price project contracts
The following table shows unsatisfied performance obligations resulting from fixed-price long-term project contracts.
20262025
$’000s$’000s
Aggregate amount of the transaction price allocated to long-term fixed-price project
contracts that are partially or fully unsatisfied as at 31 August
92,278 85,487
Management expects that 94% of the transaction price allocated to the unsatisfied contracts as of 31 August 2026 will be
recognised as revenue during the next reporting period ($86 million) (2025: 93% of the transaction price allocated to the unsatisfied
contracts as of 31 August 2025 will be recognised as revenue during the next reporting period ($80 million)). The remaining 6%
($6 million) (2025: 7% ($5 million)) will be recognised in the following financial year.
(b) Other operating income
Policy — Government Grants
Government grants are not recognised until there
is reasonable assurance that the Group will comply
with the conditions attaching to them and that the
grants will be received.
Government grants are recognised as other
income over the periods necessary to match
them with the costs for which they are intended
to compensate, on a systematic basis. Government
grants that are receivable as compensation for
expenses or losses already incurred or for the
purpose of giving immediate financial support to the
Group with no future related costs, are recognised
in profit or loss in the period in which they become
receivable.
The Group receives grant revenue related to research and development through its Australian subsidiary Scott Automation and
Robotics Pty Ltd. Any tax credits claimed are offset against any tax expense.
20262025
$’000s$’000s
Rental income
378 686
Government grants related to research and development
793 940
Other Government grants
86 70
Gain on sale of property, plant and equipment
457 19

1,714 1,715
Section A: financial performance continued
Annual Report 2026
Page 47

Notes to and forming part of the consolidated financial statements continued
For the year ended 31 August 2026
20262025
$’000s$’000s
Audit services:
Deloitte Limited
Audit and review of the financial statements
664 649
Total remuneration for audit services 664 649
Other services:
Deloitte Limited
Other Assurance Services
- Limited assurance over Greenhouse Gas (GHG) information - 45
Total remuneration for other services - 45
Total fees incurred for services provided by the audit firm 664 694
Other separately
disclosed expenses:
Directors’ fees325 290
Superannuation scheme contributions 10,084 9,610
Raw materials and consumables used (cost of sales) 135,960 126,273
Foreign exchange loss 505 281
Unrealised fair value losses on foreign exchange derivatives 507 96
and after crediting:
Foreign exchange gains - -
Unrealised fair value gains on foreign exchange derivatives 478 120
Unrealised fair value gains on interest rate swap contracts - -
Income tax recognised in net surplus
Policy
Current tax is calculated by reference to the amount
of income taxes payable or receivable in respect
of the taxable profit or tax loss for the period. It is
calculated using tax rates and tax laws that have
been enacted or substantively enacted by reporting
date. Current tax for current and prior periods is
recognised as a liability (or asset) to the extent it is
unpaid (or refundable).

20262025
$’000s
$’000s
Net profit / (loss) before tax
19,925 17,401
Income tax expense calculated at New Zealand rate of 28% (2025: 28%)
5,579 4,872
Foreign rates other than 28%
(288) (391)
Non-deductible expenses / (non-assessable income)
(1,307) (595)
Under / (over) provision of income tax in previous year
270 (698)
Taxation expense
4,254 3,188
Represented by:
Current tax
4,904 801
Deferred tax
(650) 2,387
4,254 3,188
The prima facie income tax expense on pre-tax accounting profit from operations reconciles to the income tax expense in
the financial statements as follows:
A2. INCOME TAXES
Section A: financial performance continued
(c) Included in raw materials, consumables and operating expenses
Scott Technology Limited
Page 48

Notes to and forming part of the consolidated financial statements continued
For the year ended 31 August 2026
Policy
Deferred tax is accounted for using the
comprehensive balance sheet liability method
in respect of temporary differences arising from
differences between the carrying amount of assets
and liabilities in the financial statements and the
corresponding tax base of those items.
In principle, deferred tax liabilities are recognised for
all taxable temporary differences. Deferred tax assets
are recognised to the extent that it is probable that
sufficient taxable amounts will be available against which
deductible temporary differences or unused tax losses
and tax offsets can be utilised. However, deferred tax
assets and liabilities are not recognised if the temporary
differences giving rise to them arise from the initial
recognition of assets and liabilities (other than as a result
of a business combination) which affects neither taxable
income nor accounting profit.
Deferred tax assets and liabilities are measured at the
tax rates that are expected to apply in the period when
the liability is settled or the asset is realised, based on tax
rates that have been enacted or substantively enacted at
reporting date. Deferred tax is charged or credited to profit
or loss, except when it relates to items charged or credited
to other comprehensive income or directly to equity, in
which case the deferred tax is also dealt with in other
comprehensive income or in equity.


Deferred tax balances
Section A: financial performance continued

2026
Opening
balance
Charged
to income
Closing
balance
$’000s $’000s $’000s
Gross deferred
tax assets:
Trade debtors
31 15 46
Other financial assets
588 716 1,304
Employee entitlements
1,117 634 1,751
Provisions
211 45 256
Tax losses 1,309 (835) 474
Leases
187 (59) 128
Inventories
420 239 659
3,863 755 4,618
Gross deferred
tax liabilities:
Other financial assets
- - -
Property, plant and equipment
(1,506) (95) (1,601)
Inventories - - -
Intangible assets
(1,983) (10) (1,993)
(3,489) (105) (3,594)
374 650 1,024
At the reporting date, the Group has unused gross tax losses of $1.8m (2025: $5.2m) available to offset against future profits.
A deferred tax asset has been recognised in respect of $0.5m (2025: $1.3m) of such losses.
It is considered probable that there will be future taxable profits available in the relevant jurisdictions to allow the Group to
utilise these losses.
Annual Report 2026
Page 49

Notes to and forming part of the consolidated financial statements continued
For the year ended 31 August 2026
2025
Opening
balance
Charged
to income
Closing
balance
$’000s $’000s $’000s
Gross deferred
tax assets:
Trade debtors
137 (106) 31
Other financial assets
5 583 588
Employee entitlements
1,384 (267) 1,117
Provisions
736 (525) 211
Tax losses 3,386 (2,077) 1,309
Leases
136 51 187
Inventories
- 420 420
5,784 (1,921) 3,863
Gross deferred
tax liabilities:
Other financial assets
(286) 286 -
Property, plant and equipment
(1,203) (303) (1,506)
Inventories (14) 14 -
Intangible assets
(1,520) (463) (1,983)
(3,023) (466) (3,489)
2,761 (2,387) 374
20262025
$’000s$’000s
Imputation credits available to shareholders 56 52
The above amounts represent the balance of the imputation credit account at the end of the reporting period adjusted for:
• Imputation credits that will arise from the payment of the amount of the provision for income tax
• Imputation debits that will arise from the payment of dividends.
Availability of these credits is subject to continuity of ownership requirements.
Section A: financial performance continued
Imputation credit account balances
Scott Technology Limited
Page 50

Notes to and forming part of the consolidated financial statements continued
For the year ended 31 August 2026
Segment revenues and results
The following is an analysis of the Group’s revenue and results by reportable segment. For the purposes of NZ IFRS 8, allocations are
based on the operating results by segment. The Group does not allocate certain resources (such as senior executive management
time) and central administration costs by segment for internal reporting purposes as these allocations would not result in a
meaningful and comparable measure of profitability by segment.
Manufacturing
New Zealand Rocklabs AustraliaAmericas Europe China Unallocated Elimination Total
2026
$’000s $’000s $’000s $’000s $’000s $’000s $’000s $’000s $’000s
Revenue from contracts with customers
Total revenue from contracts
with customers
20,783 61,013 30,575 63,506 107,440 10,799 - - 294,116
Inter-segment revenue
1,343 4,952 6,782 188 8,082 1,791 - (23,138) -
Segment revenue
22,126 65,965 37,357 63,694 115,522 12,590 - (23,138) 294,116
Segment profit
8,857 18,990 4,088 1,440 14,065 2,227 - - 49,667
Depreciation and amortisation
(882) (1,993) (2,813) (1,007) (4,445) (134) (397) - (11,671)
Share of net surplus in joint ventures
(76) - - - - - - - (76)
Interest revenue
11 - 107 - 42 14 34 - 208
Central administration costs
- - - - - - (14,739) - (14,739)
Finance costs
121 (918) (349) (840) (703) - (775) - (3,464)
Net profit / (loss) before taxation
8,031 16,079 1,033 (407) 8,959 2,107 (15,877) - 19,925
Taxation (expense) / benefit
(377) (588) (806) (163) (2,109) (211) - - (4,254)
Net profit / (loss) after taxation
7,654 15,491 227 (570) 6,850 1,896 (15,877) - 15,671

Section A: financial performance continued
A3. SEGMENT INFORMATION
Policy
NZ IFRS 8 Operating Segments requires operating
segments to be identified on the basis of internal
reports about components of the Group that are
regularly reviewed by the chief operating decision-maker
(the Board) in order to allocate resources to the segments
and to assess its performance.
The Group’s Board allocates resources and assesses
performance of the Group by manufacturing base,
therefore under NZ IFRS 8 the Group’s reportable
segments are:
• New Zealand manufacturing
• Rocklabs manufacturing
• Australia manufacturing
New Zealand, (excluding Rocklabs), is reported as a single
segment due to the integrated nature of customers,
management, manufacturing and sales activities
across New Zealand.
Rocklabs is reported as a single segment due to
the integrated nature of customers, management,
manufacturing and sales activities associated with the
Rocklabs brand and operation in New Zealand and Australia.
Australia, (excluding Rocklabs), is reported as a single
segment due to the integrated nature of customers,
management, manufacturing and sales activities
across Australia.
Americas is reported as a single segment due to
the integrated nature of customers, management,
manufacturing, sales and financing activities across
North and South America.
Europe is reported as a single segment due to the
integrated nature of customers, management,
manufacturing, sales and financing activities across Europe.
China is reported as a single segment due to the integrated
nature of customers, management, manufacturing, sales
and financing activities across China.
• Americas manufacturing
• Europe manufacturing
• China manufacturing.
Annual Report 2026
Page 51

Notes to and forming part of the consolidated financial statements continued
For the year ended 31 August 2026
The Group holds non-current assets in geographical areas outside of New Zealand, the country of domicile.
These non-current assets are held in the following locations
Section A: financial performance continued
Revenue reported above represents revenue generated from external customers. Inter-segment sales, which are eliminated on
consolidation, were $23.1 million for the year ended 31 August 2026 (2025: $24.2 million).
The accounting policies of the reportable segments are the same as the Group’s accounting policies. Segment profit represents the
profit earned by each segment without allocation of central administration costs and investment revenue.
Geographical information
The Group sells into seven principal geographical areas. The Group’s revenue from external customers by geographical location (of the
customer) is detailed below:
20262025
$’000s$’000s
New Zealand (country of domicile) 23,254 23,630
Australia and Pacific Islands 59,385 41,571
North America, including Mexico 44,719 65,136
South America 3,386 4,364
Asia 20,027 39,378
Europe 130,740 98,203
Africa and Middle East 12,605 2,991
294,116 275,273

20262025
$’000s$’000s
Australia 22,567 23,395
United States 14,921 15,641
Europe 33,016 33,732
China 950 998
71,454 73,766
Manufacturing
New Zealand Rocklabs AustraliaAmericas Europe China Unallocated Elimination Total
2025
$’000s $’000s $’000s $’000s $’000s $’000s $’000s $’000s $’000s
Revenue from contracts with customers
Total revenue from
contracts with customers
9,948 47,887 26,725 72,745 97,874 20,094 - - 275,273
Inter-segment revenue 3,961 3,111 6,896 147 8,881 1,186 - (24,182) -
Segment revenue 13,909 50,998 33,621 72,892 106,755 21,280 - (24,182) 275,273
Segment profit 9,291 13,975 2,702 2,882 14,720 2,973 - - 46,543
Depreciation and amortisation (853) (1,851) (2,480) (805) (3,704) (155) (883) - (10,731)
Share of net surplus in joint ventures 248 - - - - - - - 248
Interest revenue 143 - 136 - 13 56 17 - 365
Central administration costs
- - - - - - (15,252) - (15,252)
Finance costs
(273) (937) (223) (513) (596) - (1,230) - (3,772)
Net profit / (loss) before
taxation
8,556 11,187 135 1,564 10,433 2,874 (17,348) - 17,401
Taxation (expense) / benefit
(140) (425) (917) 170 (1,489) (387) - - (3,188)
Net profit / (loss) after taxation
8,416 10,762 (782) 1,734 8,944 2,487 (17,348) - 14,213
Scott Technology Limited
Page 52

Notes to and forming part of the consolidated financial statements continued
For the year ended 31 August 2026

Policy
Trade debtors are initially recognised at fair value and
are subsequently measured at amortised cost using
the effective interest rate method, less any provision
for expected credit losses. The Group applies the
simplified approach to measuring expected credit
losses, which uses a lifetime expected credit loss
allowance. The measurement of expected credit
losses is a function of the probability of default, loss
given default and the exposure of default.
The expected credit losses on trade receivables are
estimated using a provision matrix by reference to past
default experience of the debtor’s current financial
position, adjusted for factors that are specific to the
conditions of the industry in which the debtor operates
and an assessment of both the current, as well as the
forecast direction of conditions at the reporting date.
Provision for expected credit losses is recognised in
profit or loss.
20262025
$’000s$’000s
Trade debtors
60,342 59,730
Allowance for expected credit losses
(199) (123)
60,143 59,607
Credit losses in profit and loss
The allowance for expected credit losses recognised in the profit and loss during the year was $0.1 million (2025: $0.6 million).
Credit period
The credit period on sales of goods ranges from 30 to 120 days depending on the terms negotiated by the customer for large
contracts. No interest is charged on trade debtors.
Impairment of financial assets
In relation to the impairment of financial assets, NZ IFRS 9 requires an expected credit loss model to be used. The expected credit loss
model requires the Group to account for expected credit losses and changes in those expected credit losses at each reporting date to
reflect changes in credit risk since initial recognition of the financial assets. Under NZ IFRS 9 it is not necessary for a credit event to have
occurred before credit losses are recognised.
The calculation of impairment losses impacts the way the Group calculates the bad debts provision, now termed the allowance for
expected credit loss. The Group applies the NZ IFRS 9 simplified approach to measuring expected credit losses, which uses a lifetime
expected loss allowance for trade debtors.
To measure the expected credit losses, trade debtors, other financial assets, sundry debtors and contract assets have been grouped
based on their shared credit risk characteristics and the days past due. The contract assets relate to unbilled work in progress and have
substantially the same risk characteristics as the trade debtors for the same type of contracts.
A provision matrix is determined based on historic credit loss rates for each group of customers, adjusted for any material expected
changes to the customers’ future credit risk. In addition, the Group has increased the credit loss allowance for anticipated losses from
specific customers. On that basis, the credit loss allowance as at 31 August was determined as follows;

SECTION B: ASSETS
B1. TRADE DEBTORS
Section A: financial performance continued
Information about major customers
In 2026 JBS accounted for 11.4% of total group sales (2025: JBS accounted for 13.1% of total group sales). These sales were across
the New Zealand, Americas and Europe segments. Refer to note E3 for further information.
Annual Report 2026
Page 53

Notes to and forming part of the consolidated financial statements continued
For the year ended 31 August 2026
Provision matrix
New ZealandRocklabsAustraliaAmericasChinaEuropeGroup
20262025202620252026202520262025202620252026202520262025
$’000s $’000s $’000s $’000s $’000s $’000s $’000s $’000s $’000s $’000s $’000s $’000s
$’000s $’000s
Debtors
Current-30 days
5,872 5,664 12,650 9,532 3,354 3,141 6,073 15,931 14 341 18,236 15,929 46,199 50,538
31-60 days 8 190 620 427 348 192 600 874 - - 883 829 2,459 2,512
61-90 days
- 12 1,467 593 180 362 378 290 30 221 516 244 2,571 1,722
Over 91 days*
18 92 1,083 837 1,447 - 4,226 655 2,068 2,309 271 1,065 9,113 4,958
Total debtors
5,898 5,958 15,820 11,389 5,329 3,695 11,277 17,750 2,112 2,871 19,906 18,067 60,342 59,730
Contract assets
3,465 2,123 630 336 1,410 493 5,688 2,881 14,602 9,971 15,207 12,464 41,002 28,268
Total assets
9,363 8,081 16,450 11,725 6,739 4,188 16,965 20,631 16,714 12,842 35,113 30,531 101,344 87,998
New ZealandRocklabsAustraliaAmericasChinaEuropeGroup
Allowance
based on
expected
credit loss - - - - - - - - - - - - - -
Expected
credit loss on
individually
assessed
balances - - (74) (78) (55) - (48) (42) - - (22) (3) (199) (123)
Credit loss
allowance - - (74) (78) (55) - (48) (42) - - (22) (3) (199) (123)
* Includes retention payments in China, which will be paid in the next 12 months.
Trade debtors and contract assets are written off when there is no reasonable expectation of recovery. Indicators that there are no
reasonable expectations of recovery include, amongst others, the failure of a debtor to engage in a repayment plan with the Group.
Policy
Inventorie s are valued at the lower of cost and net
realisable value. Costs, including an appropriate portion
of fixed and variable overhead expenses, are assigned
to inventories by the method most appropriate to the
particular class of inventory, with the majority being
valued on a first-in first-out basis. Net realisable value
represents the estimated selling price for inventories,
less all estimated costs of completion and costs
necessary to make the sale.
Provision for slow moving and obsolete inventories is
assessed by the Group as part of the ongoing financial
reporting. Obsolescence is assessed based on the time
the inventory has been held and the likelihood of future
sales of the inventory.

B2. INVENTORIES
Section B: assets continued
Scott Technology Limited
Page 54

Notes to and forming part of the consolidated financial statements continued
For the year ended 31 August 2026
20262025
$’000s $’000s
Raw materials 18,552 16,540
Work in progress 11,068 13,774
Finished goods 13,319 9,430
Provision for obsolete inventory (784) (902)
42,155 38,842
Write downs
The cost of inventories recognised as an expense during the year includes $0.1 million (2025: $0.1 million) in respect of
write downs of inventory to net realisable value and write offs of obsolete inventory.

Assets and liabilities related to contracts with customers
The Group becomes entitled to invoice customers for long-term projects when certain milestones are met. These milestones and
cash flows are agreed upfront with the customer when the contract is signed. When a particular milestone is reached, the customer is
sent an invoice and any revenue previously recognised as a contract asset is reclassified to trade receivables at this time. If the invoice
milestone payment exceeds the revenue recognised under the percentage of completion method, the Group will recognise a contract
liability for the difference.
The majority of fixed-price contracts are not considered to have a significant financing component under the percentage of
completion method as the period between the recognition of revenue and the milestone payments is usually less than one year.
20262025
$’000s$’000s
Contract assets
41,002 28,268
Contract liabilities
(25,732) (19,614)
Deferred revenue
(10,372) (11,132)
4,898 (2,478)
Contract assets and contract liabilities include provisions where the likelihood of cost overruns are expected as a result of
factors such as the complexity of the projects and additional costs for commissioning and installation.
Policy
Contract assets are balances due from customers
under fixed-price project contracts that arise when the
Group receives payments from customers in line with
a series of performance-related milestones. The Group
will previously have recognised a contract asset for any
work performed. Any amount previously recognised as
a contract asset is reclassified to a trade debtor at the
point at which it is invoiced to the customer. Contract
liabilities relating to fixed-price project contracts are
balances due to customers under fixed-price project
contracts. These arise if a particular milestone payment
exceeds the revenue recognised to date.
Deferred revenue arises from short-term projects where
the Group receives payments from customers in advance
of delivering the asset to the customer.
Judgement
Determining the level of provisions to include against
contract assets and liabilities requires an estimation of
the costs to complete for the fixed-price contracts. If the
costs incurred to complete the contracts differ from the
estimates completed by management, the Directors could
be over or under estimating the contract assets or contract
liabilities.
B3. CONTRACT ASSETS / LIABILITIES
Section B: assets continued
Annual Report 2026
Page 55

Notes to and forming part of the consolidated financial statements continued
For the year ended 31 August 2026
Policy
All items of property, plant and equipment are stated at
cost less accumulated depreciation and impairment. Cost
includes expenditure that is directly attributable to the
acquisition of the item. In the event that settlement of
all, or part, of a purchase consideration is deferred, cost
is determined by discounting the amounts payable in the
future to their present value as at the date of acquisition.
Depreciation is calculated on a straight-line basis so as
to write off the net cost of the asset over its expected
useful life to its estimated residual value. The following
estimated useful lives are used in the calculation of
depreciation:
• Buildings 40 years
• Plant, equipment and vehicles 1-13 years
Freehold
land at cost
$’000s
Freehold
buildings
at cost
$’000s
Plant,
equipment and
vehicles at cost
$’000s
Total
$’000s
Gross carrying
amount
As at 31 August 2024
2,432 15,472 30,813 48,717
Additions
- 292 2,329 2,621
Disposals
- (156) (3,204) (3,360)
Transfer
(296) (700) (1,404) (2,400)
Translation of amounts held in foreign currency
- 215 1,150 1,365
As at 31 August 2025
2,136 15,123 29,684 46,943
Additions
- 592 1,994 2,586
Disposals
- (242) (1,521) (1,763)
Translation of amounts held in foreign currency
- (13) 275 262
As at 31 August 2026
2,136 15,460 30,432 48,028
Accumulated
depreciation &
impairment
As at 31 August 2024
- 4,905 20,252 25,157
Disposals - (155) (2,882) (3,037)
Depreciation expense - 704 2,727 3,431
Transfer
- (234) (304) (538)
Translation of amounts held in foreign currency
- 94 739 833
As at 31 August 2025
- 5,314 20,532 25,846
Disposals - (242) (1,448) (1,690)
Depreciation expense - 689 2,584 3,273
Translation of amounts held in foreign currency
- (3) 291 288
As at 31 August 2026
- 5,758 21,959 27,717
Net book valueAs at 31 August 2025
2,136 9,809 9,152 21,097
As at 31 August 2026
2,136 9,702 8,473 20,311
B4. PROPERTY, PLANT AND EQUIPMENT
Section B: assets continued
Scott Technology Limited
Page 56

Notes to and forming part of the consolidated financial statements continued
For the year ended 31 August 2026
Gross carrying amount
20262025
$’000s$’000s
Balance at beginning of financial year
53,902 50,832
Translation of goodwill amounts held in foreign currency
1,024 3,070
Balance at end of financial year
54,926 53,902
Judgement
Determining whether goodwill is impaired requires an
estimation of the value in use of the cash-generating
units to which goodwill has been allocated. The value-
in-use calculation requires the Directors to estimate
the future cash flows, particularly in relation to future
project wins and market conditions, expected to arise
from the cash-generating unit and a suitable discount
rate in order to calculate present value.
Impairment testing summary
For the purposes of preparing these financial statements, the Board has reviewed the intangible assets and impairment model and
determined that there is no impairment of any intangible assets in the current year or in prior periods based upon the inputs and
assumptions made for each Cash-generating Unit (CGU).
Sensitivity analysis has been performed on the impairment model to determine how sensitive the model is to any changes to inputs,
specifically around the cash flow forecasts. The sensitivity analysis showed no reasonably possible scenarios resulting in impairment
for New Zealand, Rocklabs, Europe or China manufacturing.
A heightened degree of focus has been given to the Australian CGU as it remains in a rebuilding phase after recent restructures and
recovers from a period of adverse market conditions. The impairment model includes the FY27 budget, resulting in an expectation
that the Australian CGU will improve its Earnings Before Interest and Tax (EBIT) by NZ$1.3 million in 2027 and then adjusting for
annualised growth after that date. The Board considers this a reasonable estimate of forecast growth, given the changes made to the
Australian business in recent years. Sensitivity analysis has showed that if the improvement in the net result from 2027 onwards is
NZ$1.0 million rather than the NZ$1.3 million assumed and no subsequent recovery in earnings is made, the model would result in nil
headroom. The Board is satisfied that the assumptions included in the model are reasonable.
A heightened degree of focus has been given to the Americas CGU as it recovers from a period of adverse market conditions. The
impairment model includes the FY27 budget, resulting in an expectation that the Americas CGU will improve its Earnings Before
Policy
Goodwill represents the excess of the purchase
consideration over the fair value of the identifiable
tangible and identifiable intangible assets, liabilities and
contingent liabilities of the subsidiary recognised at the
time of acquisition of a business or subsidiary. Goodwill is
initially recognised as an asset at cost and is subsequently
measured at cost, less any accumulated impairment losses.
For the purpose of impairment testing, goodwill is
allocated to each of the Group’s cash-generating
units expected to benefit from the synergies of the
combination. Cash-generating units to which goodwill
has been allocated are tested for impairment annually
or more frequently when there is an indication that the
unit may be impaired. If the recoverable amount of the
cash-generating unit is less than the carrying amount of
the unit, the impairment loss is allocated first to reduce
the carrying amount of any goodwill allocated to the unit
and then to the other assets of the unit pro-rata on the
basis of the carrying amount of each asset in the unit. An
impairment loss recognised for goodwill is not reversed
in a subsequent period.
On disposal of a subsidiary, the attributable amount of
goodwill is included in the determination of the profit or
loss on disposal.
B5. GOODWILL
Section B: assets continued
Annual Report 2026
Page 57

Notes to and forming part of the consolidated financial statements continued
For the year ended 31 August 2026
Interest and Tax (EBIT) by NZ$3.1 million in 2027 and then adjusting for annualised growth after that date. The Board considers this
a reasonable estimate of forecast growth, given the changes made to the Americas business in the prior year. Sensitivity analysis has
showed that if the improvement in the net result from 2027 onwards is NZ$1.6 million rather than the NZ$3.1 million assumed and
no subsequent recovery in earnings is made, the model would result in nil headroom. The Board is satisfied that the assumptions
included in the model are reasonable.
Allocation of goodwill to cash-generating units
The Group’s cash-generating units are:
• New Zealand manufacturing
• Rocklabs manufacturing
New Zealand is reported as a single cash-generating unit due to the integrated nature of customers, management, manufacturing,
sales and financing activities across New Zealand.
Rocklabs is reported as a single cash-generating unit due to the integrated nature of customers, management, manufacturing, sales
and financing activities associated with the Rocklabs brand and operation across New Zealand and Australia.
Australia is reported as a single cash-generating unit due to the integrated nature of customers, management, manufacturing, sales
and financing activities across Australia.
Americas is reported as a single cash-generating unit due to the integrated nature of customers, management, manufacturing, sales
and financing activities across North and South America.
Europe is reported as a single cash-generating unit due to the integrated nature of customers, management, manufacturing, sales
and financing activities across Europe.
China is reported as a single cash-generating unit due to the integrated nature of customers, management, manufacturing, sales and
financing activities across China.
Goodwill has been allocated for impairment testing purposes
to the cash-generating units:
20262025
$’000s$’000s
New Zealand manufacturing
6,630 6,630
Rocklabs manufacturing
13,589 12,777
Australia manufacturing
5,654 5,216
Americas manufacturing
8,378 8,411
Europe manufacturing
20,316 20,509
China manufacturing
359 359
54,92653,902
Impairment model inputs
The recoverable amount of each cash-generating unit is determined based on a value-in-use calculation, which uses cash flow
projections based on financial budgets and forecasts covering a five-year period. The inputs for each of the CGUs have been listed
below. Goodwill has been allocated for impairment testing purposes to the CGUs:
New Zealand
20262025
Annual growth rate
2.5%2.5%
Terminal growth rate
2.3%2.0%
Pre-tax discount rate
17.4%18.5%
New Zealand cashflow projections during the budget and forecast period are based on historical gross margins during the
budget and forecast period. The rate of revenue and materials price inflation during 2026 of 2.5% (2025: 2.5%) reflects the
effect of market expectations on global sales over the five-year period. Cash flows beyond that five-year period have been
extrapolated using a 2.3% p.a. growth rate (2025: 2.0%). The pre-tax discount rate calculated in 2026 is 17.4% (2025: 18.5%).
• Australia manufacturing
• Americas manufacturing
• Europe manufacturing
• China manufacturing.
Section B: assets continued
Scott Technology Limited
Page 58

Notes to and forming part of the consolidated financial statements continued
For the year ended 31 August 2026
• Europe manufacturing
• China manufacturing.
The New Zealand CGU has sufficient historical data to support the cash flow assumptions included in the impairment model and
management believes that any reasonably possible change in the key assumptions on which the recoverable amount is based would
not cause the aggregate carrying amount to exceed the aggregate recoverable amount of the New Zealand CGU.
Rocklabs
20262025
Annual growth rate
2.8%2.8%
Terminal growth rate
2.4%2.0%
Pre-tax discount rate
16.9%16.9%
Rocklabs cashflow projections during the budget and forecast period are based on historical gross margins during the budget and
forecast period. The rate of revenue and materials price inflation during 2026 of 2.8% (2025: 2.8%) reflects the effect of market
expectations on global sales over the five-year period. Cash flows beyond that five-year period have been extrapolated using a
2.4% p.a. growth rate (2025: 2.0%). The pre-tax discount rate calculated in 2026 is 16.9% (2025: 16.9%).
The Rocklabs CGU has sufficient historical data to support the cash flow assumptions included in the impairment model and
management believes that any reasonably possible change in the key assumptions on which the recoverable amount is based would
not cause the aggregate carrying amount to exceed the aggregate recoverable amount of the Rocklabs CGU.
Australia
20262025
Annual growth rate
3.0%3.0%
Terminal growth rate
2.5%2.0%
Pre-tax discount rate
14.8%14.6%
Australia cashflow projections during the budget and forecast period are based on historical gross margins during the budget and
forecast period. The rate of revenue and materials price inflation during 2026 of 3.0% (2025: 3.0%) reflects the effect of market
expectations on global sales over the five-year period. Cash flows beyond that five-year period have been extrapolated using a
2.5% p.a. growth rate (2025: 2.0%). The pre-tax discount rate calculated in 2026 is 14.8% (2025: 14.6%).
As noted above, the Australian CGU has received a heightened degree of focus for the impairment testing. The key assumptions in
the impairment test relate to achieving forecast EBIT.
Americas
20262025
Annual growth rate
2.5%2.5%
Terminal growth rate
2.3%2.0%
Pre-tax discount rate
13.8%15.3%
Americas cashflow projections during the budget and forecast period are based on historical gross margins, during the budget and
forecast period. The rate of revenue and materials price inflation during 2026 of 2.5% (2025: 2.5%) reflects the effect of market
expectations on global sales over the five-year period. Cash flows beyond that five-year period have been extrapolated using a
2.3% p.a. growth rate (2025: 2.0%). The pre-tax discount rate calculated in 2026 is 13.8% (2025: 15.3%).
As noted above, the Americas CGU has received a heightened degree of focus for the impairment testing. The key assumptions in
the impairment test relate to achieving forecast EBIT.
Europe
20262025
Annual growth rate
2.0%2.0%
Terminal growth rate
2.0%2.0%
Pre-tax discount rate
14.0%14.0%
Europe cashflow projections during the budget and forecast period are based on historical gross margins during the budget and
forecast period. The rate of revenue and materials price inflation during 2026 of 2.0% (2025: 2.0%) reflects the effect of market
expectations on global sales over the five-year period. Cash flows beyond that five-year period have been extrapolated using a
2.0% p.a. growth rate (2025: 2.0%). The pre-tax discount rate calculated in 2026 is 14.0% (2025: 14.0%).
Section B: assets continued
Annual Report 2026
Page 59

Notes to and forming part of the consolidated financial statements continued
For the year ended 31 August 2026
The European CGU has sufficient historical data to support the cash flow assumptions included in the impairment model and
management believes that any reasonably possible change in the key assumptions on which the recoverable amount is based would
not cause the aggregate carrying amount to exceed the aggregate recoverable amount of the European CGU.
China
20262025
Annual growth rate
2.0%2.5%
Terminal growth rate
1.5%2.0%
Pre-tax discount rate
13.2%13.2%
China cashflow projections during the budget and forecast period are based on historical gross margins during the budget and
forecast period. The rate of revenue and materials price inflation during 2026 of 2.0% (2025: 2.5%) reflects the effect of market
expectations on global sales over the five-year period. Cash flows beyond that five-year period have been extrapolated using a
1.5% p.a. growth rate (2025: 2.0%). The pre-tax discount rate calculated in 2026 is 13.2% (2025: 13.2%).
The Chinese CGU has sufficient historical data to support the assumptions included in the impairment model and management
believes that any reasonably possible change in the key assumptions on which the recoverable amount is based would not cause the
aggregate carrying amount to exceed the aggregate recoverable amount of the Chinese CGU.



Policy
Intangible assets with finite useful lives that
are acquired separately are carried at cost, less
accumulated amortisation and accumulated
impairment losses. Amortisation is recognised on a
straight-line basis over their estimated useful lives.
Intangible assets with indefinite useful lives that
are acquired separately are carried at cost, less
accumulated impairment losses.
Intangible assets that are acquired in a business
combination and recognised separately from
goodwill are initially recognised at fair value at the
acquisition date, which is regarded as their cost.
Subsequent to initial recognition, intangible assets
acquired in a business combination are recognised
on the same basis as intangible assets that are
acquired separately.
At each balance sheet date, the Group reviews
the carrying amounts of its non-financial tangible
and intangible assets to determine whether there
is any indication that those assets have suffered
an impairment loss. If any such indication exists,
the recoverable amount of the asset is estimated in
order to determine the extent of the impairment loss,
if any. Goodwill is tested for impairment annually.
Where the asset does not generate cash flows that are
independent from other assets, the Group estimates
the recoverable amount of the CGU to which the asset
belongs.
The recoverable amount is the higher of fair value, less
costs to sell and value in use. In assessing value in use,
the estimated future cash flows are discounted to their
present value using a discount rate that reflects current
market assessments of the time value of money and
the risks specific to the asset for which the estimates of
future cash flows have not been adjusted.
If the recoverable amount of a CGU, is estimated to
be less than its carrying amount, the carrying amount
of the CGU is reduced to its recoverable amount.
An impairment loss is recognised in profit or loss
immediately, unless the asset is carried at fair value,
in which case the impairment loss is treated as a
revaluation decrease.
B6. INTANGIBLE ASSETS
Section B: assets continued
Scott Technology Limited
Page 60

Notes to and forming part of the consolidated financial statements continued
For the year ended 31 August 2026
Conveyor
& palletiser
technology
at cost
BladeStop
technology
at cost
Centrifuge
technology
at cost
Automated
grading
technology
at cost
Patents
& otherTotal
$000’s$’000s$’000s$’000s$’000s$’000s
Gross carrying
amount
As at 31 August 2024
6,572 10,838 340 1,742 222 19,714
Additions
- - - - - -
Disposals
(2,097) - - (115) - (2,212)
Foreign translation difference
866 266 - 241 9 1,382
As at 31 August 2025
5,341 11,104 340 1,868 231 18,884
Additions
898 - - 28 - 926
Disposals
- - - (39) - (39)
Foreign translation difference
(68) 1,016 - (20) 9 937
As at 31 August 2026
6,171 12,120 340 1,837 240 20,708
Accumulated
amortisation
and impairment
As at 31 August 2024
4,332 10,725 190 933 134 16,314
Amortisation expense
712 113 26 156 23 1,030
Disposals
(2,097) - - - - (2,097)
Foreign translation difference
637 266 - 157 8 1,068
As at 31 August 2025
3,584 11,104 216 1,246 165 16,315
Amortisation expense
506 - 26 167 - 699
Disposals
- - - (39) - (39)
Foreign translation difference
(74) 1,016 - (17) 9 934
As at 31 August 2026
4,016 12,120 242 1,357 174 17,909
Net book value
As at 31 August 20251,757-124622662,569
As at 31 August 2026
2,155-98480662,799
Assets
Intangible assets comprise:
• Conveyor and palletiser technology used in the materials handling industry, purchased through the acquisition of the Alvey
business in April 2018 and further assets acquired since acquisition. This is being amortised on a straight-line basis over an
estimated remaining useful life at the time of purchase of 10 years.
• BladeStop bandsaw safety technology purchased in October 2017, which is being amortised on a straight-line basis over an
estimated remaining useful life at the time of purchase of eight years.
• Centrifuge technology used in the honey and fish oil industry purchased through the acquisition of the other joint venture
partners’ interests in Scott Separation Technology Limited in May 2017, is being amortised on a straight-line basis over an
estimated remaining useful life at the time of purchase of 13 years.
• Automated grading technology used in the meat industry purchased through the acquisition of Normaclass in May 2019, is
being amortised on a straight-line basis over an estimated useful life at the time of purchase of 10 years.
Section B: assets continued
Annual Report 2026
Page 61