Kogan.com May 2025 Business Update

• Kogan.com achieved 24.2% Gross Sales growth and 38% increase in Active Customers
• Mighty Ape impacted by technical challenges, expected to return to profitable trading in FY26
• Group Adjusted EBITDA Margin of 5%, expected to increase as marketing investments bear fruit

Kogan.com Ltd (ASX:KGN) has announced continued strong sales growth and profit margins during the four-month period to 30 April 2025. Kogan.com achieved Gross Sales growth of over 24% compared to the prior corresponding period, driven by strong performance across its Kogan FIRST, Marketplace and Verticals divisions. Active Customers increased to 2.7 million, representing a 38% year-on-year growth. This performance resulted in Kogan.com Gross Profit growth of 16%, enabling the ongoing strategic reinvestment of incremental profitability into marketing and promotion initiatives. Mighty Ape continued to be impacted by technical challenges following the website platform upgrade announced in February 2025, which affected sales performance and inventory levels. However, early signs of recovery are evident, with Gross Sales showing positive momentum driven by the Mighty Ape Marketplace scaling rapidly since launch. The Company expects Mighty Ape to return to profitable trading performance in FY26. Despite the significant marketing investment at Kogan.com and the ongoing technical challenges at Mighty Ape, the Company was able to deliver Group Adjusted EBITDA Margins of 5%, which is expected to increase in the coming months as the marketing investments continue to bear fruit, and the technical challenges are progressively resolved.

The Company expects Mighty Ape to return to profitable trading performance in FY26.

The Company expects its Group Adjusted EBITDA Margin to increase in the coming months as the marketing investments continue to bear fruit, and the technical challenges at Mighty Ape are progressively resolved.