Quarterly Activities/Appendix 4C Cash Flow Report

• Revenue of $22.6m, up 8.9% QoQ
• Gross margin of 71.5%, up from 63.9% in Q3 FY25
• Record Adjusted EBITDA of $3.2m, up 164% QoQ
• Operating cash flow of $3.4m, second consecutive quarter of positive free cash flow

BetMakers Technology Group Ltd (ASX:BET) reported a transformational Q4 FY25, with revenue of $22.6m, up 8.9% quarter-on-quarter (QoQ) and higher than the prior corresponding period (Q4 FY24: $22.5m). Gross margin expanded to 71.5%, compared to 63.9% in Q3 FY25 and 55.2% in Q4 FY24, supported by reduced cloud costs and improved unit economics. Adjusted EBITDA reached a record $3.2m, a $6.9m turnaround from Q4 FY24. Operating cash flow also improved to $3.4m, up from $3.0m in Q3 FY25 and significantly higher than the $0.5m outflow in Q4 FY24. During the quarter, BetMakers secured $11.5m through a placement and a further $1.2m from a Share Purchase Plan, which were used to repay all outstanding debt and fund strategic growth, including the acquisition of LVDC in Nevada. At 30 June 2025, the company had unrestricted cash of $18.8m and no debt on the balance sheet.

In FY26, BetMakers expects a full year of the benefits from its FY25 transformation strategy and technology improvements to flow through, supporting scalable growth opportunities.

BetMakers is focused on capitalising on scalable growth opportunities in FY26, including expanded market penetration through its Apollo platform and the launch of its GTX tote platform.