Announcement PDF ANNUAL REPORT Atomos Limited ASX: AMS Financial Year 2026 For the year ended 30 June 2026 Atomos Limited Annual Report FY26 Atomos Limited | Annual Report 2026 2 Contents Chair's Message ......................................................................................................................................3 CEO's Address ........................................................................................................................................5 Directors' Report......................................................................................................................................7 Auditor's Independence Declaration......................................................................................................25 Remuneration Report ............................................................................................................................26 Consolidated Financial Statements.......................................................................................................37 Notes to the Consolidated Financial Statements ..................................................................................42 Consolidated Entity Disclosure Statement ............................................................................................81 Directors' Declaration ............................................................................................................................82 Independent Auditor's Report................................................................................................................83 ASX Additional Information....................................................................................................................88 Company Directory................................................................................................................................91 Atomos Limited Annual Report FY26 Atomos Limited | Annual Report 2026 3 Chair's Message Dear Shareholders FY26 was the year Atomos returned to profit. The Group recorded a net profit after tax of $0.9 million, against a loss of $14.6 million in FY25, on revenue of $40.0 million, up 22.5% on the prior year. EBITDA of $3.7 million compared with an EBITDA loss of $11.8 million, an improvement of $15.5 million. After a period in which the Company's survival was a legitimate question, which is a significant milestone, and one your Board does not take for granted. The improvement came from three places. Revenue grew across the refreshed Ninja and Shinobi ranges. Contribution margin rose to 37.2% of revenue from 16.8%, reflecting lower product and freight costs following changes to our distribution arrangements, together with the impact of changes in United States tariff settings during the year. Pricing had been established in response to the introduction of tariffs, which were subsequently changed. Given the continuing uncertainty and frequent changes in tariff policy, it was not practical to continually adjust market pricing in response to each change. This resulted in a temporary benefit to contribution margin during the period. The restructuring completed in FY25 also delivered its full year benefit, with fixed costs down 22.5% to $12.5 million and average monthly fixed costs now around $1.1 million. Excluding provision releases of $1.7 million, contribution margin was 33.0% of revenue, within the 33% to 35% range we have previously indicated to the market and a level we expect to sustain. The Board is equally clear that the second half did not meet the expectations we set. First half revenue of $23.7 million was followed by $16.3 million in the second, and in July we advised the market that full year sales would be approximately $40 million against earlier guidance of $23.7 million for the second half alone. Subdued end consumer demand, and consequent destocking by distributors and resellers against a backdrop of conflict in the Middle East and rising United States inflation, were the principal causes. Timing also played a part: approximately $2 million of product shipped before 30 June had not reached customers at year end, and the Sumo PRO 19 shipped in the final days of May, too late to generate re-orders within the year. Earnings nonetheless held up, with second half EBITDA of $1.8 million broadly matching the first half on materially lower revenue, which speaks to the quality of the margin and cost work done during the year. Operationally the Company did what it said it would. Seven new and upgraded products reached market over the twelve months, spanning the Ninja TX, Ninja TX GO, Ninja RAW, Shinobi 7 RX, Shogun AV-19 and Sumo PRO 19, the last of which won multiple Best of Show awards at the NAB Show. In April we completed the acquisition of Flanders Scientific, a respected name in professional reference monitoring, extending our reach from on-camera capture through to post-production. Flanders contributed $1.8 million of revenue in the ten weeks we owned it and will contribute a full year in FY27. The balance sheet strengthened materially. Net liabilities reduced from $11.1 million to $2.6 million. In November, shareholders exercised listed options generating $7.8 million, which was applied directly to debt. In April we settled a new $10 million three-year facility with the Commonwealth Bank of Australia and and repriced the Monreii Pty Ltd loan facility from a total cost of 20% to 13% per annum, saving approximately $0.7 million of interest each year. Since year end, the Monreii Pty Ltd facility has been extended to 28 February 2028. The financial statements continue to be prepared on a going concern basis, and the directors have disclosed the material uncertainty that attaches to that judgement. The Group remains dependent on achieving its forecast trading results and on the continued availability of its financing facilities. The Board monitors this closely and the relevant disclosures are set out in the notes. On behalf of the Board, I thank Peter Barber and the Atomos team. A turnaround of this size is not achieved by strategy documents; it is achieved by people doing difficult work over a sustained period, often with fewer resources than they would like. I also thank shareholders who supported the Company through a period when the outcome was far from certain, and particularly those who exercised options in November. Atomos Limited Annual Report FY26 Atomos Limited | Annual Report 2026 4 FY27 brings the full-year benefit of the products launched during FY26, a complete year of Flanders Scientific, and further releases already announced at IBC in September. The task now is to convert a year of repair into a year of consistent, profitable growth. That remains the Board's focus. James Joughin Non-Executive Chair Melbourne 30 September 2026 Atomos Limited Annual Report FY26 Atomos Limited | Annual Report 2026 5 CEO's Address Dear Shareholders FY26 was a transformational year for Atomos. Revenue grew more than 20% to $40.0 million, and the Company returned to EBITDA profitability, recording EBITDA of $3.7 million against a loss of $11.8 million in FY25. We delivered four consecutive EBITDA positive quarters after fourteen negative ones. That change did not come from a single decision; it came from rebuilding the product range, resetting the cost base and fixing how we go to market, all at the same time. The product story is the one I am most pleased with. Over the twelve months we refreshed our entire suite, from on-camera through to post-production. Ninja TX arrived in July 2025 as the first of the next generation, bringing 12G-SDI in and out, Wi-Fi and Bluetooth connectivity and support for cloud workflows through ATOMOSphere. At IBC we announced Shinobi 7 RX, extending camera control and integrated wireless receiving to the 7-inch monitor line. Ninja TX GO followed in November as a lower cost HDMI-focused model built to reach a wider audience, and Ninja RAW completed what we describe internally as the Good, Better, Best Ninja lineup as our most affordable monitor-recorder. In the second half we moved into rack-mounted production. Shogun AV-19 replaced the original Shogun Studio II, which had not been manufactured for several years because of component obsolescence, and pre- orders were strong. Sumo PRO 19 was unveiled at the NAB Show in April and went on to win multiple Best of Show awards, an endorsement from the industry that matters to us. Seven new and upgraded products in twelve months, from a team of our size, is a considerable effort and I want to acknowledge it. Alongside the hardware we continued to build the ecosystem. ATOMOSphere, our cloud editing and collaboration platform, expanded through the year, and firmware releases extended ProRes RAW recording and camera control to more camera models. In April this year, we acquired Flanders Scientific, experts in colour science and reference display technology and one of the most respected names in professional reference monitoring. The strategic logic is straightforward: it lets us serve a materially larger part of the content creation process, from the camera through to the colour-critical grade. While it is still early, the cultural fit has exceeded my expectations and Flanders' specialist expertise is already being drawn into the broader Atomos business. Flanders contributed $1.8 million of revenue in the ten weeks we owned it and will contribute a full year in FY27. I want to be direct about the second half. We guided to second half sales at or above the first half and delivered $16.3 million against $23.7 million. Subdued end consumer demand, and the destocking by distributors and resellers that followed it, were the main drivers, set against conflict in the Middle East and rising United States inflation. Two things we controlled also cost us: Sumo PRO 19 shipped in the final days of May, later than planned, which meant no re-orders landed inside the financial year, and sell-through of the new Ninja range and our June promotional campaign fell short of what we expected. Approximately $2 million of product had shipped but not reached customers by 30 June. We have taken the lessons from all of that into how we plan launches and promotions in FY27. Encouragingly, earnings held up. Contribution margin improved to 37.2% of revenue for the year, and second half EBITDA of $1.8 million was broadly level with the first half on materially lower revenue. Our fixed cost base is now right sized at approximately $1.1 million a month, and as sales build we expect to see that operating leverage come through. Our fourth quarter operating cash outflow reflected sales timing, one-off lease exit payments, a one-off inventory investment in Flanders and legacy supplier payment plans. Heading into FY27 we are confident in our cash position, supported by the progressive unwinding of our working capital build, and expect operating cash flow to align more closely with EBITDA. Atomos Limited Annual Report FY26 Atomos Limited | Annual Report 2026 6 FY27 has started with momentum. At IBC in September, we introduced the Shinobi 7 II and the Shogun AV- 19M, alongside an expanded accessory ecosystem and new ATOMOSphere integrations. We carry the full- year benefit of everything launched during FY26, a complete year of Flanders Scientific, and a product roadmap we will continue to execute. Our focus is unchanged: expand the ecosystem, capture a greater share of customer spend, and convert that into consistent profitable growth. My thanks to the Atomos team, whose work this year was genuinely exceptional, to our distribution and retail partners, and to you, our shareholders, for your continued support. Peter Barber Executive Director and Chief Executive Officer Singapore 30 September 2026 Atomos Limited Annual Report FY26 Atomos Limited | Annual Report 2026 7 Directors' Report The directors of Atomos Limited (‘Atomos’ or ‘the Company’) present their report together with the financial statements of the consolidated entity, being Atomos and its Controlled Entities (‘the Group’) for the year ended 30 June 2026. Directors The names of the directors in office at any time during or since the end of the year are: Mr James Joughin – Non-Executive Chair Mr Jeromy Young – Non-Executive Director Mr Peter Barber – Executive Director The above-named directors held office during and since the end of the financial year unless otherwise stated. Principal activities During the year the principal activities of the Group consisted of the design, manufacture and sale of video monitoring, recording and production equipment as well as the development and sale of software applications to enhance its physical products. There have been no significant changes in the nature of these activities during the year. Non-IFRS financial information EBITDA and contribution margin are non-IFRS financial measures. They are used by the Board and management to assess the underlying operating performance of the Group and are the measures by which the Group has communicated its performance to the market, including in its half-year and quarterly reporting. EBITDA is also the basis of a financial covenant under the Group's Commonwealth Bank of Australia facility. Both measures are calculated consistently with the prior year. They are not measures prescribed by Australian Accounting Standards, have not been separately audited, and should be read together with the statutory results presented in the financial statements. Reconciliations to the closest statutory measures are set out below. EBITDA 2026 2025 $'000 $'000 Profit / (loss) for the year (statutory) 872 (14,581) Income tax (benefit) / expense (591) 112 Finance costs 2,599 1,426 Depreciation and amortisation 785 1,210 EBITDA 3,665 (11,833) Atomos Limited Annual Report FY26 Atomos Limited | Annual Report 2026 8 Contribution margin 2026 2025 $'000 $'000 Revenue (statutory) 39,997 32,656 Product costs (20,372) (24,162) Variable costs (4,758) (2,998) Contribution margin 14,867 5,496 Contribution margin as a percentage of revenue 37.2% 16.8% Contribution margin represents revenue less the costs that vary directly with sales volume, being product costs and variable costs. Variable costs comprise freight, customs and tariffs, warranty provision, royalties and variable marketing expenditure. No expenses have been excluded on the basis that they are non- recurring, and the Group does not present an underlying, normalised or adjusted profit measure. Review of Operations The Group returned to profit in FY26. Revenue grew 22.5% to $40.0 million, and the Group recorded a net profit after tax of $0.9 million, against a loss of $14.6 million in FY25. EBITDA of $3.7 million compared with an EBITDA loss of $11.8 million. 2026 2025 Change $'000 $'000 Revenue 39,997 32,656 22.5% Contribution margin 14,867 5,496 170.5% Contribution margin % 37.2% 16.8% 20.4 ppt Total fixed costs (12,500) (16,138) (22.5%) EBITDA 3,665 (11,833) 15,498 Net profit / (loss) after tax 872 (14,581) 15,453 Atomos Limited Annual Report FY26 Atomos Limited | Annual Report 2026 9 Revenue Growth came from the refreshed Ninja and Shinobi ranges, improved marketing execution and the direct-to- consumer channel. Flanders Scientific Inc, acquired 24 April 2026, contributed $1.8 million; had it been owned from 1 July 2025 consolidated revenue would have been $49.6 million. The year was weighted to the first half, with $23.7 million to 31 December 2025 and $16.3 million thereafter. As advised on 6 July 2026, the second half reflected subdued end consumer demand and consequent destocking, approximately $2.0 million of product shipped but not received by customers at year end, the late May shipment of Sumo PRO 19 which left no opportunity for re-orders and sell-through of the new Ninja range and the June campaign below expectations. Margin and costs Contribution margin of $14.9 million was 37.2% of revenue, against 16.8% in FY25, reflecting lower product and freight costs following changes to distribution arrangements, reduced discounting, and the impact of changes in United States tariff settings during the year. Pricing had been established in response to the introduction of tariffs, which were subsequently changed. Given the continuing uncertainty and frequent changes in tariff policy, it was not practical to continually adjust market pricing in response to each change. Excluding $1.7 million of provision releases, margin was 33.0% of revenue, within the 33% to 35% range previously indicated and the level the directors expect to sustain. Fixed costs fell 22.5% to $12.5 million, delivering the full-year benefit of the FY25 restructuring. Employee benefits reduced $1.8 million to $7.1 million, advertising and marketing $1.4 million to $1.1 million, and legal and professional services $1.0 million to $1.4 million. Administration and other expense increased $1.6 million to $1.9 million, principally reflecting an abnormally low expense in FY25 due to a $1.8 million credit relating to reversal of onerous contract provisions. Research and development of $0.9 million is stated after capitalising $1.4 million of qualifying expenditure from 1 January 2026. Significant items 2026 2025 $'000 $'000 Inventory obsolescence provisions and realisations 1,449 (3,184) Release of onerous contract and open purchase order provisions 450 1,714 Net benefit / (charge) within EBITDA 1,899 (1,470) The Group does not present an underlying, normalised or adjusted profit measure. EBITDA is presented as an additional subtotal permitted by AASB 101 and is reconciled to statutory profit in the directors’ report. The year-on-year movement of $3.4 million accounts for approximately one fifth of the $15.5 million EBITDA improvement; the balance is attributable to revenue growth, the margin improvement and the reduction in fixed costs. Financial position and funding Net liabilities reduced to $2.6 million from $11.1 million, and cash was $2.3 million as at 30 June 2026. Borrowings increased to $20.9 million from $14.4 million. In November and December 2025, the Company received $7.8 million from the exercise of listed options, applied to the Monreii Pty Ltd facility. In April 2026 it settled a $10.0 million three-year facility with the Commonwealth Bank of Australia and repriced the Monreii Pty Ltd facility, saving approximately $0.7 million of interest annually. Net cash used in operating activities was $5.0 million, against $13.3 million in FY25. Finance costs of $2.6 million were $1.2 million higher on the increased average level of borrowings. Atomos Limited Annual Report FY26 Atomos Limited | Annual Report 2026 10 Operations and outlook • Seven new and upgraded products reached market: Ninja TX, Ninja TX GO, Ninja RAW, Shinobi 7 RX, Shogun AV-19, Sumo PRO 19 and the broader ecosystem range. Sumo PRO 19 won multiple Best of Show awards at the NAB Show. • Flanders Scientific Inc was acquired on 24 April 2026, extending the range into professional reference monitoring. The Group also exited its Cremorne premises during the year. • FY27 carries the full-year effect of the FY26 launches and a full twelve months of Flanders Scientific. Further products were announced at IBC in September 2026, including the Shinobi 7 II and Shogun AV- 19M. The going concern basis of preparation, and the material uncertainty attaching to it, are set out in note 3. Significant items affecting the reported result The reported result for the year includes a number of items which, by their size or nature, are relevant to an understanding of the Group’s performance. They are set out so that users can identify the items concerned together with the corresponding amounts recognised in the previous corresponding period. 2026 2025 $'000 $'000 Net benefit/(charge) — inventory obsolescence provisions and realisations 1,449 (3,184) Release of onerous contract and open purchase order provisions 450 1,714 Net benefit/(charge) recognised within EBITDA 1,899 (1,470) The net benefit of $1.4m in respect of inventory comprises the release of $1.2m of obsolescence provisions no longer required, a margin of $0.5m realised on the sale of inventory which had previously been written down, and a charge of $0.2m in respect of inventory written off against which no provision had been carried. These amounts represent the recovery of write downs recognised in FY25, when a net charge of $3.2m was made against the result, and in earlier periods; $0.8m of that recovery was realised in cash on the sale of the inventory concerned. Refer to the Movements in provision for obsolescence note. A provision of $0.5m carried in respect of open purchase orders was released following confirmation from the suppliers concerned that those orders had been closed and that no liability remains. The previous corresponding period included a release of $1.7m from the same onerous contract and open purchase order provisions. The release of $1.2m of obsolescence provisions and $0.5m of onerous contract and open purchase order provisions together contributed 4.2 percentage points of the contribution margin of 37.2% of revenue for the year. Excluding those releases the contribution margin was 33.0% of revenue, within the range of 33% to 35% the Company has previously indicated. Taken together, these items represent a net benefit of $1.9m in FY26 against a net charge of $1.5m in FY25. The year-on-year movement of $3.4m accounts for approximately one fifth of the $15.5m improvement in EBITDA. The balance is attributable to the 22.5% increase in revenue, the improvement in the contribution margin percentage described above following the changes to the Group’s distribution and product cost arrangements, and the $3.6m reduction in fixed costs delivered by the restructuring completed in FY25. Atomos Limited Annual Report FY26 Atomos Limited | Annual Report 2026 11 The table above covers only those categories in which an amount arose in the current year. FY25 additionally bore employee restructuring costs of $2.7m, debt facility fees, non-recurring tradeshow costs and legal fees on historic contractual matters, disclosed as items not in the ordinary course of business in the FY25 Appendix 4E. FY26 additionally bore acquisition-related costs of $0.1m, referred to in the Business combination note, together with a number of smaller items arising in both directions, none exceeding $0.2m individually, which have not been separately identified. On 24 April 2026 the Group acquired Flanders Scientific Inc, which contributed revenue of $1.8m and a loss after tax of $13,000 for the period from acquisition to 30 June 2026. On 14 July 2025 the Group incorporated Atomos SG Pte Ltd, whose sole activity is to provide employment services, and which did not contribute revenue in the period. Half-year performance. The Group released its results for the half-year ended 31 December 2025 on 27 February 2026, reporting revenue of $23.7m, contribution margin of $8.2m or 34.7% of revenue, EBITDA of $1.9m and a profit after tax of $0.2m. Revenue and EBITDA were both within the guidance ranges previously advised to the market. At that time the Company reaffirmed its expectation that second half sales would meet or exceed the first half and that second half EBITDA would exceed the first half. Summary of results for 2026 compared to prior period 2026 2025 % Change $'000 $'000 Revenue 39,997 32,656 22.5% Product costs (20,372) (24,162) (15.7%) Variable costs (4,758) (2,998) 58.7% Contribution margin 14,867 5,496 170.5% Contribution margin % 37.2% 16.8% Other income 206 - n/m Net foreign exchange gain/(loss) 1,092 (1,191) n/m Total fixed costs (12,500) (16,138) (22.5%) EBITDA 3,665 (11,833) n/m Depreciation and amortisation (785) (1,210) (35.1%) Finance costs (2,599) (1,426) 82.3% Profit/(loss) before income tax 281 (14,469) n/m Income tax benefit/(expense) 591 (112) n/m Profit/(loss) for the year 872 (14,581) n/m In the table above, n/m denotes a percentage change that is not meaningful, being lines on which the previous corresponding period was nil or on which the change in sign makes a percentage uninformative. Atomos Limited Annual Report FY26 Atomos Limited | Annual Report 2026 12 Half-year comparison – H2 FY26 compared to H1 FY26 – Reported basis The half-year figures below are the reported results for the half-year ended 31 December 2025 as released to the market on 27 February 2026. The second half is derived as the difference between the full year and the first half. H2 FY26 H1 FY26 Change $ FY26 Total $'000 $'000 $'000 $'000 Revenue 16,294 23,703 (7,409) 39,997 Product costs (8,409) (11,963) 3,554 (20,372) Variable costs (1,239) (3,519) 2,280 (4,758) Contribution margin 6,646 8,221 (1,575) 14,867 Contribution margin % 40.8% 34.7% 6.1 ppt 37.2% Other income (23) 229 (252) 206 Net foreign exchange gain 1,000 92 908 1,092 Total fixed costs (5,854) (6,646) 792 (12,500) EBITDA 1,769 1,896 (127) 3,665 Depreciation and amortisation (468) (317) (151) (785) Finance costs (1,133) (1,466) 333 (2,599) Profit before income tax 168 113 55 281 Income tax benefit 553 38 515 591 Profit for the period 721 151 570 872 Second half FY26 revenue of $16.3m was $7.4m or 31.3% below the first half, for the reasons set out in the Company’s announcement of 6 July 2026. Contribution margin fell $1.6m over the same period, a smaller fall than the reduction in revenue, as the contribution margin percentage improved from 34.7% to 40.8%. Total fixed costs of $5.9m in the second half were $0.8m below the first half, reflecting the capitalisation of qualifying product development expenditure from 1 January 2026 and the reclassification of variable marketing costs, partly offset by the inclusion of Flanders Scientific from 24 April 2026. EBITDA of $1.8m was $0.1m below the first half. The movement in the contribution margin percentage between the halves is a matter of timing rather than of trading. Duties imposed by the United States Administration were borne for the whole of the first half but for only one month of the second, and the credit arising when those duties were deemed unlawful was recognised in that same month. Attributing $0.8m of that credit to the first half revenues to which it relates would give contribution margins of 38.1% in the first half and 35.9% in the second, a difference of 2.2 percentage points rather than the 6.1 percentage points reported. No adjustment has been made to the figures in the table above, which are the reported results for each half. Atomos Limited Annual Report FY26 Atomos Limited | Annual Report 2026 13 Significant changes in the state of affairs Significant changes in the state of affairs of the Group during the financial year were: the acquisition of Flanders Scientific Inc on 24 April 2026; the incorporation Flanders Scientific Pty Ltd on 16 March 2026; the receipt of $7.8 million on the exercise of listed options, which was applied to the repayment of borrowings; the settlement of a $10.0 million three-year facility with the Commonwealth Bank of Australia and the concurrent repricing of the Monreii Pty Ltd facility; an increase in borrowings of $6.5 million to $20.9 million; the recommencement of capitalisation of qualifying product development expenditure from 1 January 2026; and the surrender of the Group’s Cremorne premises which had been sub-leased since 2022, but become vacant in April 2026 (the cost of which was $0.5m, but saving $1.8m over the remaining lease period). Events arising since the end of the reporting period There are no matters or circumstances that have arisen since the end of the year that have significantly affected or may significantly affect either:  the entity’s operations in future financial years  the results of those operations in future financial years; or  the entity’s state of affairs in future financial years Future developments Atomos will continue to develop the types of products it is known for today to grow the existing business. FY27 carries the full-year revenue effect of the seven products brought to market during FY26 and a full twelve months of Flanders Scientific Inc. Further products were announced at IBC in September 2026, including the Shinobi 7 II and the Shogun AV-19M, with a continuing roadmap of product development across the monitor-recorder, reference monitoring and ecosystem ranges. Further information about likely developments in the operations of the Group and the expected results of those operations in future financial years has not been included in this report because there is significant uncertainty surrounding the USA market and tariff changes and disclosure of the information would be likely to result in unreasonable prejudice to the Group. Environmental legislation The Company’s operations are not subject to any particular or significant environmental regulation under a law of the Commonwealth or of any State or Territory in Australia. Dividends No dividends have been paid or declared during or since the end of the financial year. Atomos Limited Annual Report FY26 Atomos Limited | Annual Report 2026 14 Principal Risks Risk Risk and impact Mitigation and monitoring Funding and liquidity The Group generated net cash outflows from operating activities of $5.0 million in FY26 and had net liabilities of $2.6 million, cash of $2.3 million and undrawn facilities of $0.3 million as at 30 June 2026. Total borrowings were $20.9 million, approximately half of which is provided under a facility from an entity associated with the Executive Director and Chief Executive Officer. The Group's ability to meet its obligations depends on achieving forecast trading results and on the continued availability of its financing facilities. The Commonwealth Bank of Australia facility carries a minimum EBITDA covenant which increases materially for periods from 31 December 2026. Non- compliance would entitle the bank to require rep