Aquirian (AQN) Investor presentation summary

Capital structure and financial performance

• 125.9 million shares on issue, market capitalization of $50.4 million, and net cash of $3.0 million as of December 2025.

• FY24 revenue was $23.2 million, FY25 revenue $26.1 million, and H1 FY26 revenue $16.9 million.

• EBITDA for FY24 was $2.7 million, FY25 $1.6 million, and H1 FY26 $2.5 million.

• Board and management hold 25% of shares, with the top 20 holders owning 64%.

Business model and integrated offerings

• Provides specialist drill and blast workforce, training, compliance, and energetics storage solutions.

• Owns patented Collar Keeper® System and offers technology-led drill and blast services.

• Operates the largest dedicated energetics storage facility in Australia for mining and defense.

• Vertically integrated across the drill, fill, and fire value chain.

Strategic contracts and growth initiatives

• Secured a 3-year, $20 million Mt Ida contract and a $1.5 million tolling agreement.

• Executed a $48 million, 3-year supply agreement with Brightstar Resources for Lord Byron mine, with potential for expansion.

• Automated Collar Keeper® System operational and biodegradable version commercialized.

• Wubin facility upgrades on schedule, supporting record production volumes.