• Unaudited revenue of $12.2 million and Underlying EBITDA loss of $1.6 million for 6 months ended 31 December 2024
• Cash of $5.0 million and no debt as at 31 December 2024
• Board recommends shareholders REJECT 5GN Takeover Bid

AUCyber Limited (ASX: CYB; AUCyber or Company) provides an update on its unaudited trading performance for the six months ended 31 December 2024, its Appendix 4C cash flow activity update for the quarter ended 31 December 2024 ('2QFY25'), together with an update on the takeover process. The company generated an Underlying EBITDA loss of $1.6 million on revenues of $12.2 million for the 6 months ended 31 December 2024, which is materially below the board's expectations. The company's 2QFY25 unaudited revenues of $5.95 million declined ~5% on 1QFY25 revenues, due to slower than expected new customer signings, recent customer churn and/or downsizing of customer contracts. Gross margins are also lower than expected due to a larger cost base. The company completed a four-way merger in May 2024, but the board's review has highlighted shortcomings in risk management and execution. The board is evaluating opportunities to right-size and optimize the cost base, as well as focusing on go-to-market initiatives to drive new business. The company received an unsolicited takeover bid from 5GN Networks, but the board recommends shareholders reject it. The company is also engaged with other interested parties, including Brennan, who have commenced due diligence.