Update on Portfolio Valuations

• Updoc valuation increased by 20.5% to $44.8m
• PropHero valuation increased by 45.6% to $18.2m
• Collectively, these uplifts represent an increase in NTA (pre-tax) of $0.089 per share

Bailador Technology Investments Limited (ASX:BTI) has provided an update on its portfolio, announcing increases to the carrying values of its investments in Updoc and PropHero. The valuation of Updoc has increased by 20.5% from $37.2m to $44.8m, representing an increase to Bailador's NTA (pre-tax) of $0.051 per share. The valuation of PropHero has increased by 45.6% from $12.5m to $18.2m, representing an increase to Bailador's NTA (pre-tax) of $0.038 per share. Collectively, these uplifts represent an increase in NTA (pre-tax) of $0.089 per share. Bailador's Co-Founders and Managing Partners, David Kirk and Paul Wilson, have expressed their satisfaction with the performance of the portfolio in the first half of the 2026 financial year, noting the strong growth and profitability of Updoc, as well as the rapid growth of PropHero since Bailador's investment in February 2025.