• $15 million non-cash impairment charge related to minority investment
• Total specified items guidance revised to $35-$40 million
• $19 million derecognition of deferred tax assets due to new revenue streams

PEXA Group Limited (ASX: PXA) has provided an update ahead of its half year (1H25) results announcement on 28th February 2025. The company expects to recognise a non-cash impairment charge of approximately $15 million in its 1H25 results, relating to the impairment of a minority investment. This charge is in addition to the previously announced specified items guidance for the 2025 full year results (FY25). PEXA has also revised its guidance for total other specified items, which are now expected to be at the upper end of previous guidance. Following a review of the criteria for recognising deferred tax assets (DTA), PEXA expects to derecognise approximately $19 million of total DTA in its 1H25 results. This is primarily due to new non-Exchange revenue streams in the six months ended 31 December 2024, which have caused the Group to fail the stricter same business test which these losses were subject to. Additionally, the Group's effective Australian tax rate is higher than anticipated in 1H25. FY25 tax expense guidance has been updated to reflect both impacts. The above noted adjustments remain subject to finalisation of results, auditor processes and Board approval. PEXA also provided an update on the interoperability asset carrying value, noting that once a review by Titles Queensland is made available, management will review whether any impairment to the carrying value of the asset is appropriate.

Measure Revised guidance Specified items ($35m) - ($40m) Income tax benefit / (expense) ($40m) - ($45m)