Announcement PDF Atomos Ltd (ASX:AMS) Atomos FY25 Results Presentation 1 September 2025 Important Notice and Disclaimer The information contained in this document (“Document”) has been prepared by Atomos Limited ACN 139 730 500 (referred to as “Atomos” or “Company”). The information contained in this Document is current as at the date of this Document and should be read in conjunction with other Atomos periodic and continuous disclosure announcements filed with the Australian Securities Exchange (ASX), available at www.asx.com.au. investment or financial product advice (or any other advice) to any such person. Each such person should make their own independent assessment of the merits or otherwise of investing in the Company and should seek their own professional advice in respect of any future investment opportunity and not act on the basis of any matter contained in this Document. 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Neither the receipt of this Document by any person nor any information contained in it or supplied with it or subsequently communicated to any person in connection with a proposed investment in the Company constitutes, or is to be taken as constituting, the giving of 2 Atomos Is Known for World-Class Product Innovation and Design… ✓ Over 100,000+ registered users ✓ 500,000 units sold lifetime ✓ Automated production is the future 3 Our Core Value Proposition Has Not Changed… Empower Creators Focus on the Creator Ecosystem Empower the democratisation of content creation in the Social, Pro Video & Entertainment Markets, and enhance connectivity User-friendly designs across a branded ecosystem that make video production simple, intuitive and creative. Enabling creatives to focus on their art. Weddings, Events, Music Partnering with the Best Brand Leadership & Equity Align, integrate and partner with global technology leaders Strong brand equity and customer loyalty built over 12 years of innovation, enhanced with ongoing care for the customer, and increasingly meeting more of their needs Formerly Olympus 4 But Our Target Customer and Method of Reaching Them Has Evolved… Target Customer Has Expanded Sales & Marketing Has Modernised Growth in sub-pro content creator market Customers shifted to online, marketplaces, social media • Maintain lead position in pro-video market; significant brand equity • Maintain distributor model in core pro-video market • Evolving business model to meet high growth market of influencers, amateurs & hobbyists – new 'Entry Level' models of core monitor range • Expand to incorporate shift to online: new DTC sales & marketing channels, marketplaces and retail media • Creating demand directly with our end consumers; value add-products • Flexibility through diversified sales channels; reinvigorated core range; derisked & strategic range expansion into new categories via partnerships Global Influencer Marketing Projections (2017 – 2027) Ave Search Volume (USD Expenditure) “Camera Monitor” weekly searches on Amazon trending upwards over the period 50 47.8 43.5 40 39.3 35.1 30 30.8 26.3 20 22.4 16.0 10 0 11.9 6.0 2017 8.1 2018 2019 2020 2021 2022 2023 2024 Source: Statista, Influencer Advertising: market data & analysis https://www.statista.com/study/132109/advertising-report-influencer-advertising/ 2025 2026 2027 5 And So Has Our Product Suite... Entry Level Models Next Generation Core Models Expanded Ecosystem Coverage 6 We have got a lot right…but equally acknowledge some mistakes Positives Product • Innovation focus on updating core monitor lines, with launch of Shinobi GO (Q3’25) and Ninja TX (Q1’26) • Launched new value-add products: • • Operations & Marketing Management Modernised Sale and Marketing strategy (Data Driven, Digital Focus, Customer First Approach) Digital Transformation Launched (DTC and Marketing) • Ex-CEO litigation resolved, and payments completed • New look Board and Management – skills sets in place aligned to sales and product strategy • New Executives possess extensive Industry and Digital Marketing, DTC, Marketplace experience • FY25 target fixed cost base $1.2m; reduced to ~$1.1m as of July-25 • • A-Eye Camera, TX-RX Wireless Video Transmitter & Receiver and StudioSonic Audio Range • Financials Challenges • Reduced headcount from 94 Jan-24 to ~55 from Jul-25 • Negotiated surrender of Head office lease, saving ~$0.6m pa • Closed 4 offices (excl HO) saving $0.25m pa CEO (Peter Barber) provided ~$13.7m Debt Facility and owns 8.2% of Ordinary Equity in the Company Key FY25 growth products - Ninja Phone and SunDragon - did not resonate with customers • Misstep across several product and marketing approaches including large Trade Show expenditure in 2024 • FY25 revenue down 9% on pcp driven by US tariffs impacting Q4 sales & minimal traction on Ninja Phone and SunDragon products • Gross margins materially impacted by US tariff increases and negligible sales on higher margin new products (Ninja Phone & SunDragon) • Fixed cost base took longer than expected to decrease due to unforeseen challenges compared to initial representations 7 Executive Summary: Four Pillars to drive Atomos forward… 1. Product Suite & Strategy (Renewed) 2. Go-to-market approach (Expanded) • • Renewed core product range (primary focus of R&D) with complementary value-add products to meet needs of customers Launched omni-channel sales approach; traditional wholesale channel approach now supported by D2C • New range of core product lines to launch in 1H’26 • Strategic addition of D2C in major markets • Expanded products in Q4’25 beyond recorder monitors: headphones, PTZ (pan, tilt, zoom) cameras, wireless transmission, etc. • Part of expanded product range suited to D2C approach • Digital & marketing strategy targeting broader content creation market • ATOMOSphere (software): cloud storage and collab platform 3. Board & Management (Refreshed) 4. Financial Stability • • Peter Barber: appointed to MD & CEO • Aligns with revised product and go-to-market strategies • • • Core product portfolio continues to hold market share despite negligible Ninja Phone & SunDragon sales Adam Kron: Chief Digital & Strategy Officer • Experienced executive focused on overall strategy, e-comm & digital marketing growth. Former GM/CSO/CGO/Director at Catch.com, Kogan and NewsCorp Daniel Moore: CTO, previously Head Software Eng at Blackmagic FY25 (unaudited) revenue of $32.7m, down 9% on pcp • Gross margins impacted materially by US tariff increases and (to a lesser extent) competitive market dynamics (discounting / promotions) • Fixed cost base reduced to ~$1.1m p/m as of Jul-25 • As of Q1’26, legacy payment plans and non-recurring expenses finalised resulting in materially improved cashflow position 8 Product Suite & Strategy Our Flagship Products Are Used All Across the Content Creator Universe… Shinobi Range Ninja & Shogun Range Sumo & Rack Range Simple, touchscreen monitors (entry pricing) targeted at influencers and video enthusiasts Flagship monitor recorder that connects to almost every camera in the world Large format monitor recorders and broadcast rack mounted recorders Market leading monitors New: Shinobi Go (entry level model) Market leading monitor recorders New: R&D and launch of next-gen upgrades Market leading production monitor New: R&D on next-gen upgrades Price Point of product / Scale of Production Low (<US$250) Low budget, Individual, Influencer, Videographer High (+US$1,500) High budget, production team Value Add Products Complementary to core range catering to customer needs; incremental upside over time 10 Value Add Products & Services Value Add Products • Derisked range expansion via co-development partnerships – no diversion of engineering team focus from core monitor range • Cloud-based ecosystem for streamlined media workflows and single sign-on access to storage, camera-to-cloud uploads, sharing, etc. • Strategic new adjacent product categories, creating an ecosystem of products to meet more of our customer's needs • Premium Offer: MyAtomos Members benefit from FREE starter plan • Test and learn approach • Paid Subscription: Paid tiers operate as a loyalty program that includes expanded storage, exclusive DTC discounts, and add-on features. Active marketing to existing ~130K customer email database Focus on converting to cloud account users Atomos Monitor Recorders Editing Software Your Preferred Camera / Recorder Shared with Collaborator 11 Go-to-market approach Sales & Marketing – Modernised Strategy Targeting customers where they are to build direct and stickier relationships. Existing Strengths • Long standing relationships w/ industry retail & distributors • Trade Shows • Email List (130K+ email subscribers) built over 10+ years + Expanded Capabilities & Growth Strategy • Digital marketing to target broader content creator market, new entrants and broaden the customer base • Leverage customer email list for DTC sales • Retail media including Amazon growth strategy • Digital focus with DTC website and enhanced marketplace presence 13 Sales & Marketing – Modernised Strategy – Early Results Promising… Targeting the customers where they are, direct & stickier relationships D2C Website Traffic: 16.0k 14.0k 12.0k Steady growth in customers engaging with the DTC shop (weekly product page views) 10.0k 8.0k 6.0k 4.0k 2.0k - D2C Sales ($A) (rolling 4 weeks): Steady growth in DTC revenue Digital marketing spend limited to substantially less than DTC Gross Profits $210.0k A$197k $180.0k $150.0k $120.0k $90.0k $60.0k $30.0k $0.0k 14 Transformed, Refocused & Positioned for Scalable Growth 2023-2024 2025 and beyond Target Customer Segments Professionals & Entertainment Industry Social Media Content Creator, Amateurs Sales Channels B2B Wholesale Distributors & Stores Online D2C & Marketplaces Marketing Trade Shows Organic Social Media New Customer Targeted Digital Marketing, Influencers, Retail Media Mid to Premium Products R&D & Innovation Lead ‘Entry Level’ Models Narrowed & Focused R&D on Core Strategic & Derisked new categories Fragmented Logistics Overspread & Complex Staff Functions New global 3PL partner Reduced FTEs, focused engineering team 2023-24 US Writers Strike Supply Chain increased costs Influencer market growing Stabilized conditions, albeit tariffs uncertain Product Range Operations Market Conditions 15 Board & Management Board & Senior Management With Complementary Skills Tailored to Atomos’ New Strategic Direction Atomos Board James Joughin Peter Barber Jeromy Young Non-Exec Chair Managing Director & CEO Non-Exec Director • Chair of Viridian Advisory & NED Daronmont & Melbourne Institute of Technology • Co-Founder & major shareholder of Blackmagic Design • 25+ years developing leading video technology and products • Former Chair of Spirit (ASX: ST1) • Left Blackmagic (in executive role) in 2017 to spend more time with family and pursue other business interests in Singapore • Previously Global BD of Blackmagic • Former Partner at EY • Co-Founder of Atomos Senior Management Peter Barber Ben McAlister Adam Kron Daniel Moore Managing Director & CEO Chief Financial Officer Chief Digital & Strategy Officer Chief Technology Officer • Experienced executive focused on overall strategy, e-comm & digital marketing growth • Previously, CTO at Presien, focused on delivering AI solutions for worksite safety and productivity • Former CFO of Doma Group • Ex KPMG, Macquarie Airports, Westpac & UBS • Former GM/CSO/CGO/Director at Catch.com, Kogan and NewsCorp • Previously, Head Software Engineering at Blackmagic 17 Financials & Outlook Underlying Proforma Profit & Loss (Unaudited) A$m, Unaudited 30 June Year End FY24 (Proforma)1 FY25 (Proforma)1 % Var 32.7 (9%) Revenue 35.7 COGS (23.7) (21.4) (10%) Gross Profit 12.0 11.3 (6%) Gross Profit Margin % 33.7% 2 34.5% 1% Variable operating costs (3.2) 3 (3.0) 6% Fixed operating costs (21.3) 4 (14.5) 32% Other Income / Forex 0.7 (1.2) Nm EBITDA (11.8) (7.4) 37% Depreciation & amortisation (1.6) (1.2) 25% Finance costs (1.2) (1.4) Profit (Loss) before tax (14.7) (10.0) 1. 1 •1 Proforma revenue down 9%, on pcp impacted by: – Aging core product range and Ninja Phone and SunDragon missteps – Paused US sales in April & May due to tariff uncertainty – Value-add product range only released in May-25, minimal FY25 contribution – Released new flagship (Ninja & Shinobi) product releases in H1 FY26 (no FY25 contribution) •2 Despite margins holding year on year, US tariff increases expected to impact (decrease) margins moving forward, despite product repricing in the US market (refer next page for H1 vs H2 analysis) (17%) •3 Variable cost maintained at ~10% of revenue 32% •4 Fixed operating costs materially decreased in-line with realignment of cost base; staff cost reduction the primary driver Refer Appendix for bridge between statutory P&L and proforma P&L 19 Underlying (H1 vs H2) Proforma Profit & Loss (Unaudited) A$m, Unaudited 30 June Year End 1H’25 (Proforma)1 2H’25 (Proforma)1 % Var 14.1 (24%) Revenue 18.6 COGS (11.5) (9.9) (14%) Gross Profit 7.1 4.2 (41%) 1 Gross Profit Margin % 38.0% 2 29.8% (22%) Variable operating costs (1.5) 3 (1.5) 3% Fixed operating costs (8.2) 4 (6.2) 24% Other Income / Forex (0.1) (1.1) Nm EBITDA (2.8) (4.6) (62%) Depreciation & amortisation (0.7) (0.5) 21% Finance costs (0.3) (1.1) Nm Profit (Loss) before tax (3.8) (6.2) (63%) 1. 5 6 •1 Revenue in 2H impacted by: – Q3 historically weakest Qtr. due to new year slowdown – Paused US sales in April & May due to tariff uncertainty; sales in June 2025 and into Q1’26 have been strong, despite price increases •2 Underlying Gross profit margins in 2H materially impacted by higher US tariffs on imported products – Margins impacted (to a lesser degree) due to competitive market dynamics (discounting) and product sales mix – Potential GP margin upside with geographical sales mix, however in medium term targeting margins ~35% •3 Variable operating costs around ~10% revenue •4 Continued re-alignment of fixed cost base which was finalised in July-25; headcount now ~55 FTE’s •5 H2 includes a net $1.1m net foreign exchange loss •6 Increased finance costs due to capitalised interest on loan facility entered in 2H’25 Refer Appendix for bridge between statutory P&L and proforma P&L 20 FY25F - Fixed Cost Base Fixed Cost Base, A$m (LHS) vs Headcount (RHS) $2.0m 80 Overall, ~40%+ reduction in Fixed Costs within 18 months 75 • Reduced workforce by ~27% and costs by ~35%, while retaining staff capacity and capability globally $1.8m $1.6m $1.4m 70 $1.2m $1.0m 65 – Headcount now reduced to ~55 • Marketing costs down ~70% with reduced presence at Trade Shows (incl. NAB & IBC) and new focus on Digital • Exited 5 office leases, including Melbourne Connect; $0.8m 60 $0.6m $0.4m 55 $0.2m $0.0m 50 2H24 1H 25 Workforce Cost Professional Fees 2H 25 Marketing July 25 • Full run-rated benefit to be recognised from July 2025 when redundancies (incl. notice periods) are completed; legacy service contracts expire; and other non-recurring expenses are finalised • Business now right-sized for success, with overheads aligning to revenues Travel & Other 21 FY26 Outlook – Sales & Gross Margins • Return to sales growth in FY26 driven by: 1– New core products and incremental contribution from expanded, value-add, product range 2– Modernising sales channel and marketing strategy • Targeting medium-term gross margins in range of ~35%+ following price increases in the US to partially offset increased tariff costs 1 Refreshed & Expanded Products • New range of core product lines to launch, starting in Q1’26 • Expanded products beyond recorder monitors: headphones, PTZ (pan, tilt, zoom) cameras, wireless transmission units – Driven by needs of our customers; creating a D2C offering for key content creation workflow tools – Increasing contribution to sales supporting core products • Launched ATOMOSphere - cloud storage & collaboration platform 2 Modern Sales Channels & Marketing Strategies • Launched omni-channel sales approach; traditional wholesale channel approach now supported by D2C • Digital & marketing strategy targeting broader content creation market (complimenting more cost-effective approach to trade shows) • Refreshed senior leadership aligned to new sales and marketing approach o Chief Digital & Strategy Officer hired in FY25 with significant Digital and Marketplace experience at Catch.com, Kogan and News Corp 22 FY26 Outlook – Cost Base & Cashflows Cost Base (Variable & Fixed) Cashflows • Variable operating costs (ie freight, royalties, warranties) to be maintained around 10% sales • By the end of Q1’26, legacy payment plans & non-recurring expenses finalised, resulting in materially improved cashflow position • Fixed cost base reduced to ~$1.1m per month as of July 2025 – Ex-CEO settlement payments now completed • $3m+ of components held as at 30 June 2025, expected to be used in FY26 in manufacturing new products • Debt facility of $13.7m, fully drawn as at 30 June 2025; – Peter Barber open to increasing facility up to a further $2.0m if required as new products are released – To assist with potential future working capital movements associated with new product roll-out, discussions underway with third party working capital provide facility 23 Appendix P&L - Statutory to Proforma Bridge A$m 30 June Year End FY24 (Statutory) One-offs FY24 (Proforma) FY25 (Statutory) Inventory Provision1 Employee Restructure2 One-Offs3 FY25 (Proforma) Revenue 35.7 - 35.7 32.7 - - - 32.7 COGS (24.5) 0.8 (23.7) (24.2) 2.8 - - (21.4) Gross Profit 11.2 0.8 12.0 8.5 2.8 - - 11.3 Gross Profit Margin % 31% 34% 26% Variable operating costs (3.2) - (3.2) (3.0) - - - (3.0) Fixed operating costs (26.0) 4.7 (21.3) (16.1) - 2.7 (1.0) (14.5) Other Income / Forex 0.7 - 0.7 (1.2) - - - (1.2) EBITDA (17.3) 5.5 (11.8) (11.8) 2.8 2.7 (1.0) (7.4) Depreciation & amortisation (1.6) - (1.6) (1.2) - - - (1.2) Finance costs (1.2) - (1.2) (1.4) - - - (1.4) Impairments (1.8) 1.8 - - - - - - Profit (Loss) before tax (22.0) 7.3 (14.7) (14.5) 2.8 2.7 (1.0) (10.0) 34% Refer FY25 Atomos 4E Report table for detailed breakdown, summary below: 1. One-off inventory adjustments: Obsolescence provision, inventory write off & write back to obsolescence provision due to stock disposal 2. Employee restructure and redundancy costs 3. One-off operating costs includes debt facility legal fees, legal fees on historical ligation matters and reversal (gain) onerous contract provision 25 Balance Sheet A$m Dec-24 Cash 1.4 Trade and other receivables Jun-25 1.5 •1 $1.5m cash as at 30 June 2025 4.9 1.8 •2 Inventories 10.7 9.1 In Apr-25, entered new $13.7m senior facility Other current assets 1.9 2.0 Other current assets 18.8 14.7 PPE 0.7 0.2 Right of use assets 3.7 1.3 Total assets 23.2 16.2 Trade and other payables 11.4 6.7 Borrowings 6.9 0.2 Provisions 2.8 2.7 Lease liabilities 0.9 0.6 Income taxes payable 1.4 1.6 Current liabilities 23.3 11.7 Provisions 0.1 0.1 Borrowings - Lease liabilities 3.6 1.2 Total liabilities 27.0 27.2 Net assets (3.8) (11.0) 1 2 – Facility fully drawn (balance also includes accrued interest) – Interest rate: 16% pa, capitalised monthly until maturity – Maturity: 28 February 2027 – No amortisation and no early repayment penalties 14.2 26