Murray Cod Australia (MCA) investor relations material

Executive summary

• Revenue increased 40% year-over-year to $6.7 million for the half-year ended 31 December 2025, but the period saw a net loss of $4.1 million compared to a $1.3 million profit in the prior year.

• Major operational milestones included a $17 million capital raise, expansion of retail footprint, and certifications to access new markets.

• Biomass grew 12% to 2,787 tonnes, and grow-out capacity expanded to 108 ponds.

• No dividends were declared or paid during the period.

Financial highlights

• Revenue from ordinary activities: $6,692,134 (up 40% year-over-year).

• Net loss after tax: $(4,062,682), down from a profit of $1,330,963 in the prior period.

• Basic earnings per share: (3.5) cents, compared to 0.13 cents in the prior period.

• Net tangible assets per share: $0.89, up from $0.09 year-over-year.

• Total assets: $169.0 million; total liabilities: $59.1 million; net assets: $109.9 million as of 31 December 2025.

Outlook and guidance

• Directors have a reasonable expectation of adequate resources to continue operations for the foreseeable future.