• Performance for the quarter was broadly at break-even
• Group continues to focus on expanding customer base and pipeline
• Cash reserves remain sufficient to support ongoing operations

BSA Ltd has published its quarterly activities report, trading update and the related Appendix 4C statement of cashflows for the quarter ending 31 March 2026 (Q3 FY2026). Performance for the quarter was broadly at break-even, reflecting a period of transition as the business positions for future growth. The Group continues to focus on expanding its customer base and pipeline, with several opportunities progressing that are expected to materialise in the coming periods. While there is a risk that the Group may record a loss in the final quarter of the year, cash reserves remain sufficient to support ongoing operations. The Group remains committed to strengthening the business and delivering value to stakeholders. YTD FY2026 revenue of $26.7 million declined by 88% vs. the prior comparative period, driven by the drop in volumes in relation to nbn, Bluecurrent and Intellihub, as a result of unfavourable outcomes in tender and contract renewals. YTD FY2026 EBITDA of $5.9 million declined by 72% vs the prior comparative period, also due to the unfavourable tender and contract renewal outcomes. The YTD results were significantly supported by non-recurring transition out payments received from nbn and other projects. The nbn contract expired on 30 September 2025.