• Atlas Pearls' earnings for H1 FY26 differed materially from prior period
• Difference driven by lower revenue from pearl auctions, non-cash and one-off factors
• Disclosed auction outcomes and market sentiment in a timely manner

Atlas Pearls Ltd (ASX:ATP) has responded to an ASX aware letter regarding its half-year results for the period ended 31 December 2025 (H1 FY26). The company confirmed that its earnings for the period differed materially from the prior corresponding period, but stated that market expectations as to its revenue were, or ought to have been, influenced by its prior disclosure of the outcome of auctions conducted during the period. Atlas Pearls noted that the difference in statutory measures of earnings, including Net Profit after Tax, were also impacted by non-cash measures and one-off factors, such as the assessment of the fair value of biological and agricultural assets, and an impairment expense arising from the deconsolidation of a related entity. The company stated that it only became aware of the impact of those factors upon completion of the relevant accounting assessments undertaken in connection with the finalisation of its H1 FY26 results, and they were immediately disclosed in the results announcement. Atlas Pearls confirmed that it is in compliance with the ASX Listing Rules, particularly Listing Rule 3.1, and that its responses have been authorised and approved in accordance with its continuous disclosure policy.