Investor Presentation

On track for positive free cash flow from 2024 $4 Note: Illustrative chart, not to scale FY26 27 FY23 c.$130m c.$135m FY25 FY24 c. $30m c.$30m c.$65m Operating cash flow Capex Interest, tax, other Legacy liabilities Operating cash flow growing faster than EBITDA Reducing capex Reducing legacy liabilities Growth in FCF wood.

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