Half year results

As AI infrastructure becomes increasingly competitive and commoditised, we look to the future value creation of platforms and applications. Our first six months as a company have focused on protocol and application layer development in two AI verticals—international tourism and education. At our September AGM we announced Project Treehouse. This project leads our drive into a future where autonomous agents will transact on behalf of their human counterparts. Our initial focus here is on tourism - transforming tourism aggregator marketplaces and providing tourism operators with the technology to optimise traveller engagement and resources. Treehouse architecture includes next generation global payments infrastructure such as AI-native agent integration with Ripple’s XRP Ledger and multi-currency settlement with the XRP payments and Ripple’s regulated stable coin (RLUSD) ecosystem. The second pillar of our agentic strategy is education building upon the Fingerprint and Blueprint technologies outlined at our September AGM. Our vision is to empower learners and teachers in an open network— amplifying teaching efficacy and allowing each individual to learn what they need, in the way that works best for them. The personalised multimodal learning platform provides immersive learning experiences, leveraging content partnerships with some of our most loved institutions. Having completed our launch stage as a public company, we reconstituted our Board to better reflect the two agentic marketplace pillars above. Thanking Sean Joyce, Roger Gower and Joe Jensen for their service, we welcomed two new independent directors, Andy Higgs and Brett O’Riley. Andy Higgs has subsequently been voted our new independent chair, and Brett O’Riley the independent chair of our Audit Committee. This strategic focus demonstrates our commitment to our agentic commerce and learning initiatives and we look forward to expanding this board with specialised skillsets in the coming months. We are pleased to report that our Portfolio investments have developed well. We have capped our investment in Tymestack.com in order to focus our resources on our intelligent tourism and education strategies. We are extremely pleased to report that Send Global delivered a solid interim result and would especially like to thank this experienced team for delivering that great result. Due to headwinds and increasing strategic focus we have agreed to return Being Consultants to 2384 LP in return for cancelling their Contingent Consideration. The fair value adjustment to Contingent Consideration ($32.13m) means the loss recorded in our financial statements for the period does not reflect our trading position. IFRS accounting standards require that we must recognise a loss of ($35.619m) in the first six months. The impact of the fair value adjustment will be reversed in the second six months. “Driven by the purpose of empowerment, our company focus underscores the growing global demand for innovative agentic technologies that simplify and enrich everyday experiences,” said David McDonald, Being AI CEO. “We are proud of the innovative technologies we developed in a short six months and are looking forward to delivering solutions that not only drive results for our partners but also empower individuals and organisations to thrive in a rapidly evolving digital landscape.” Our impact portfolio, Manawaroa Education, remains committed to growth and innovation despite delays in the application for its first charter school. We continue to advance our existing private and state-integrated schools, fostering agile environments that drive educational progress. Through a hands-on approach, we are passionate about accelerating the adoption of equitable, personalised learning solutions, enabling the rapid scaling of innovations and curricula that address systemic challenges and prepare students for a purpose-driven future. As we look ahead to the second half of the year, Being AI remains committed to strategic investments in product development, partnerships, and customer success across our whole portfolio to solidify our position. As we enter the Age of Abundant Intelligence, Being AI is set to enjoy an exciting and fruitful 2025. Thank you to our Directors for their strategic governance and inspiration, and to our shareholders for their support.