• Kobe auction sold 67,488 pearls at an average price of $60/piece
• Total revenue of $4 million
• Average index point per pearl sold was 18.04
• Average $/index point was $3.56, down slightly from $4.08 in previous auction

Atlas Pearls Ltd (ASX: ATP) is pleased to provide an update on an auction held in Kobe, Japan on 29-30 September 2025. The auction sold 67,488 pearls at an average price of $60/piece, generating total revenue of $4 million. The average index point per pearl sold was 18.04, down 14% from the average index of 21 for the stock presented at the June 2025 auction. The dollar per index point achieved was down 12.7% from $4.08 in June to $3.56 in September. A total of 72,853 pearls were presented, with 67,488 pearls sold. Atlas Pearls employs an internal Index Point system to assess the quality of pearls based on shape, grade, size, and colour, enabling consistent comparison of auction results. The company retained 5,365 pearls from this auction, assessing they are better positioned to achieve stronger value through alternative sales channels. The strong pricing achieved for 8mm lots highlights the depth of demand in this size category, aligning with the company's focus on capturing value across its core production profile. The outcome validates the company's ability to connect with a diverse international customer base and reinforces confidence in sustained demand across core markets.

The next major auction will be held in Kobe in December 2025. Atlas Pearls continues to sell and grow its sales into wholesale, value-added, and a small, but growing, retail channel.