Interim report
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29 September 2026MobilityOne Limited(“MobilityOne”, the “Company” or the “Group”) Unaudited interim results for the six months ended 30 June 2026 MobilityOne (AIM: MBO), the e-commerce infrastructure payment solutions and platform provider, announces itsunaudited interim results for the six months ended 30 June 2026 (“H1 2026”). Highlights: Revenue decreased by 2.0% to £113.7 million (H1 2025: £116.0 million), mainly due to lower contributions fromthe Group’s core products and services in Malaysia, including mobile prepaid airtime reloads and bill paymentservices, during H1 2026 as compared to the corresponding period in 2025 (“H1 2025”); Loss after tax for H1 2026 was £1.02 million, compared to a loss after tax of £1.14 million in H1 2025. Themarginal improvement was primarily attributable to an increase in the overall gross profit margin across variousbusiness segments; Cash and cash equivalents, including fixed deposits classified under other financial assets, stood at approximately£3.03 million as at 30 June 2026 (30 June 2025: £3.00 million); The Group expects the business environment to remain challenging and will continue to adopt a cautious approachtowards the outlook for the remainder of 2026; and The Group expects the proposed joint venture with Super Apps Holdings Sdn Bhd (“Super Apps”) and theproposed merger exercise of Technology & Telecommunication Acquisition Corporation and Super Apps tocomplete in the near term following which the Group will receive the first payment of the consideration of RM40.0million (c. £6.84 million) in cash. This would represent a positive and material financial development for theGroup, including the Group’s future financial position, business operations and growth initiatives. For further information, contact: MobilityOne Limited +6 03 89963600Dato’ Hussian A. Rahman, CEO www.mobilityone.com.myhar@mobilityone.com.my Allenby Capital Limited(Nominated Adviser and Broker) +44 20 3328 5656Nick Athanas / Vivek Bhardwaj About the Group: MobilityOne is one of the leading virtual distributors of mobile prepaid reload and bill payment services in Malaysia. Withconnections to various service providers across industries such as banking, telecommunications, utilities, governmentagencies, and transportation, the Group operates through multiple distribution channels including mobile wallets, e-commerce sites, EDC terminals, automated teller machines, kiosks, and internet & mobile banking. Holding licenses inregulated spaces including acquiring, e-money, remittance and lending, the Group offers a range of services to the market,including wallet, internet, and terminal-based payment services, white label e-money, remittance, lending, and customfintech ecosystems for communities. The Group's flexible, scalable technology platform enables cash, debit card, andcredit card transactions from multiple devices while providing robust control and monitoring of product and servicedistribution. For more information, refer to our website at www.mobilityone.com.my Chairman’s statement The Group’s revenue decreased by 2.0% to £113.7 million for the first six months of 2026, compared to £116.0 million forthe corresponding period in 2025. The decrease was mainly attributable to lower sales from the Group’s core products andservices in Malaysia, particularly mobile prepaid airtime reloads and bill payment services. However, the decline waspartially offset by encouraging growth in sales through the Group’s electronic data capture (“EDC”) terminals, paymentgateway services and third-party e-wallet applications. The Group reported a loss after tax of £1.02 million for the first half of 2026, compared to a loss after tax of £1.14 millionin H1 2025. The improvement was mainly attributable to an increase in the overall gross profit margin across variousbusiness segments. The Group’s international remittance services in Malaysia recorded an increase in revenue during H1 2026. However, thecontribution from this business remains relatively modest. In Brunei, while the Group remains cautiously optimistic aboutthe potential for business growth, the operations currently represent an insignificant proportion of the Group’s overallbusiness. The Group has ceased pursuing new business opportunities in the Philippines and has discontinued its operationsthere. As at 30 June 2026, the Group had cash and cash equivalents, including fixed deposits classified under other financialassets, of approximately £3.03 million (30 June 2025: £3.00 million). Secured loans and borrowings from financialinstitutions increased to £7.47 million as at 30 June 2026 (30 June 2025: £6.94 million), primarily to fund the Group’sworking capital requirements and higher operating expenses. Current trading and outlook The Group’s business activities are predominately in Malaysia. The Central Bank of Malaysia reported that the Malaysianeconomy expanded by 5.7% in the first half of 2026, driven mainly by continued domestic demand and robust exports.
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Household spending was supported by steady income growth and ongoing policy support. As a small and open economy, Malaysia will inevitably face both direct and indirect impact from the ongoing geopoliticalconflict in the Middle East. Higher energy prices, supply chain disruptions, and heightened uncertainty are expected toweigh on the external environment. Nevertheless, the Malaysian economy is expected to remain resilient in 2026, withgrowth expected to come in within the range of 4% - 5%, supported by steady domestic demand and continued expansionin its export performance. Mobile phone prepaid airtime reloads and bill payments continued to be the main business activities for the Group in theperiod under review. The Group’s international remittance business is expected to grow further with the addition of newpartners like bKash, a leading mobile financial services provider in Bangladesh. The Group’s focus on retail electronicpayments business which covers both physical and online merchants is also expected to grow steadily by increasingacceptance of more payment types. The e-money businesses in Malaysia as well as the payment solution business inBrunei are expected to remain insignificant. The Group’s foray into the health technology industry via the Group’s subsidiary (i.e, MobilityOne Sdn Bhd (“M1Malaysia”)) and its associate company (i.e, Hati International Sdn Bhd (“Hati”)), is gaining traction having secured a fewnew projects with hospitals in Thailand and Malaysia, focusing on implementing digital payment solutions to enhancepatient billing and administrative processes as well as to integrate the Group's payment technologies to streamlinehealthcare services. These partnerships signify the Group's strategic move into the health technology sector, leveraging itsexpertise in payment solutions to cater to the evolving needs of the healthcare industry. The following are major events, which are anticipated to have a material impact on the future financial performance of theGroup: (1) Disposal of OneShop Retail Sdn Bhd (“1Shop”) and proposed joint venture with Super Apps On 19 October 2022, M1 Malaysia entered into a share sale agreement (the “Share Sale Agreement”) with SuperApps for the disposal by M1 Malaysia of a 60% shareholding in the Group’s wholly-owned non-core subsidiary1Shop to Super Apps (together the “Disposal”). Concurrently, M1 Malaysia entered into a joint-venture cumshareholders agreement with Super Apps and 1Shop (together the “Proposed Joint Venture”). The intention of theDisposal and Proposed Joint Venture is to establish a new joint venture to expand the Group’s e-products andservices business initially in Malaysia. The Disposal was initially subject to the completion of a merger exercise between Technology &Telecommunication Acquisition Corporation (“TETE”) and Super Apps which includes certain approvals by theUnited States Securities and Exchange Commission (“SEC”) (together the “Merger Exercise”). Subsequently itwas announced on 1 March 2024 that M1 Malaysia had entered into a supplementary agreement with Super Apps toamend the terms and conditions of the Share Sale Agreement in preparation for the Merger Exercise (the“Supplementary Agreement”). Under the new terms and conditions of the Supplementary Agreement, completionof the Disposal is no longer conditional on the Merger Exercise completing. In this regard, it was instead agreedthat the Disposal completes upon entry of the Supplementary Agreement. Notwithstanding completion, if theMerger Exercise does not complete, M1 Malaysia is entitled to purchase back the 60% interest in 1Shop from SuperApps for a nominal consideration of RM1.00. It was further agreed that irrespective of the completion of the Disposal and subject to the completion of the MergerExercise, Super Apps shall pay M1 Malaysia the following consideration: (a) RM40.0 million (c. £6.84 million) in cash within 14 days upon completion of the Merger Exercise; and(b) RM20.0 million (c. £3.42 million) in cash within 180 days upon completion of the Merger Exercise. In addition, pursuant to the terms of the Proposed Joint Venture, M1 Malaysia undertook to provide the necessarytechnical and business support to 1Shop and guaranteed that 1Shop will achieve revenues of at least RM560.0million (equivalent to c. £95.8 million) in the period as mutually agreed (the “Revenue Target”). As the MergerExercise has been delayed, the period to achieve the Revenue Target shall be re-assessed and agreed with SuperApps in due course. In order to achieve the Revenue Target, Super Apps undertakes to provide all the necessaryworking capital requirements of 1Shop. This will be supplemented through Super Apps, in conjunction with 1Shop,collaborating with other organisations. Moreover, Super Apps shall procure TETE to issue shares in TETE (the“TETE Shares”) to a stakeholder to be mutually agreed by M1 Malaysia and Super Apps with aggregate value ofRM20.0 million (equivalent to c. £3.42 million) within 14 days upon completion of the Merger Exercise. The issueprice for the TETE Shares to the stakeholder is to be determined at a later date. M1 Malaysia will only be entitledto receive the TETE Shares from the stakeholder following 1Shop achieving the Revenue Target. On 23 March 2026, TETE received a Notice of Effectiveness from the SEC declaring that the proxy statement andprospectus in relation to the Merger Exercise has been approved by the SEC and at the extraordinary generalmeeting of the shareholders of TETE held on 30 March 2026, all resolutions on the Merger Exercise were dulypassed. On 27 August 2026, the Group announced that TETE had filed a Form 8-K report notifying that thedeadline to complete the Merger Exercise has been extended to 20 February 2027. Notwithstanding Nasdaq hasapproved the Merger Exercise, TETE has not decided when the Merger Exercise will complete. The Group expectsthe Merger Exercise will complete and to receive the first payment of the consideration of RM40.0 million (c. £6.84million) in cash soon, which will represent a positive and material financial development for the Group, includingthe Group’s future financial position, business operations and growth initiatives. (2) Acquisition of Hati via Sincere Acres Sdn Bhd (“Sincere”) On 29 September 2023, M1 Malaysia entered into a share sale agreement with United Flagship Development SdnBhd (“Vendor”) to acquire a 49% equity interest in Sincere for a total cash consideration of RM30.0 million (c.£5.217 million) to be paid to the Vendor in two tranches. On 4 October 2023, the acquisition of Hati via Sincerecompleted and the first tranche, representing RM2.0 million (c. £0.348 million), has since been paid to the Vendor.The second tranche, representing the balance of RM28.0 million (c. £4.869 million) (the “Second Tranche”), wasoriginally required to be paid by M1 Malaysia by 8 March 2024 (the “Second Tranche Payment Date”). The Second Tranche Payment Date has been subject to prior extensions and was most recently extended to theearlier of: (i) 31 October 2026; or (ii) 7 days from date of receipt of consideration of RM40.0 million (c. £6.84million) in cash for the Disposal. Any payment in relation to the Second Tranche made after the Second TranchePayment Date is subject to an interest charge of 10% per annum. Hati has been the subject of a winding up petition in Malaysia and an order to wind up Hati was granted by theHigh Court in Malaysia on 5 December 2025. The Board understands that the winding up petition relates tooutstanding loans made by three private individuals to Hati in 2021 that remain unpaid. These loans relate to aperiod of time prior to Hati becoming an associate company of M1 Malaysia. On 18 December 2025 the solicitors
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representing Hati filed a notice of appeal to the Court of Appeal in Malaysia challenging the winding up order. Inaddition, Hati instructed its solicitors to proceed with filing in the High Court in Malaysia a stay of execution of thewinding up order pending the outcome of the appeal at the Court of Appeal in Malaysia. Notwithstanding thelitigation, Hati's operations remain unaffected at this current time. (3) The digital bank in Labuan, Malaysia On 31 December 2025, the Group announced that M1 Malaysia had received a conditional approval from LabuanFinancial Services Authority ("Labuan FSA") for M1 Malaysia to establish a subsidiary in Labuan, namely MBOBank (Labuan) Limited ("MBO Bank"), to carry on Islamic digital banking business in Labuan, Malaysia. Theconditional approval is subject to, inter alia, MBO Bank having sufficient capital reserves, strong corporategovernance and other strict operational and prudential requirements in place as stipulated by the Labuan FSA.Notwithstanding this, the Group has started the preparatory work for MBO Bank to meet the required conditions.As of currently, some of the conditions remained outstanding, although the Group anticipates fulfilling theseconditions by the end of this year. As part of the Group’s business plans, the Group has identified the following business areas for future growth: (1) Electronic payment system The Group is actively expanding its merchant acquiring business across both online and offline channels byestablishing strategic collaborations with local banking partners to enhance merchant onboarding and paymentacceptance capabilities. The Group has also connected to Touch 'n Go, Malaysia's largest eWallet player forpayment acceptance, a move that will further strengthen the Group’s transactional ecosystem. Moving forward, theGroup’s primary driver of growth in the electronic payment system will be the cross-border and cross-channeladoption of eWallet payments. This strategy directly capitalises on the massive momentum highlighted in RFIGlobal’s How the World Pays in 2025 report, highlighting eWallet usage’s growing trend globally (Source:https://rfi.global/how-the-world-pays-in-2025-global-trends-by-generation-and-market/). The Group has secured regulatory approval from Brunei’s central bank to operate a merchant acquiring business inBrunei. With most of the Bruneians engaging in e-commerce activities such as shopping, banking, and billpayments, the Group is well-positioned to tap into this growing market upon receiving final operational clearance.These strategic initiatives are expected to drive further growth in the regional digital payment landscape. (2) eMoney business The Group’s e-money business is expected to grow through collaborations and technological advancements. InMalaysia, the white-label partnership with Majlis Agama Islam Negeri Sembilan (“MAINS”) has expanded toencompass programs aimed at supporting orphans and underprivileged communities, reflecting the Group’scommitment to financial inclusion. Collaborations with Digital Perak Corporation Holdings (i.e, the developmentagency that spearheads Malaysia’s Perak state digital economy and Bank Simpanan Nasional (i.e, a commercialbank in Malaysia) have strengthened the Group’s position through the nationwide rollout of the Cashless SchoolProgram in primary schools, promoting digital payment adoption among students. The Group’s e-money platformhas integrated with PayNet's national payment system, enabling acceptance at DuitNow QR merchants acrossMalaysia. Looking ahead, the Group is actively working on expanding its white-label collaborations to broaden theuser base and is developing capabilities to facilitate regional acceptance of the Group’s e-money services,leveraging PayNet's cross-border payment initiatives and also usage for online payment. (3) Money transfer business The Group expects further growth in the money transfer business with such growth expected to be fuelled bystrategic partnerships and market diversification. While development using the SWIFT network is still underway,the Group’s collaboration with bKash, the largest mobile financial services provider in Bangladesh, and MastercardSend have enhanced the Group’s product offerings, enabling faster and more secure cross-border transactions. To accelerate the Group’s business expansion, the Group has further enhanced its internal controls and systemcapabilities. This foundation allows the Group to explore collaborative engagements with other licensed moneyservices businesses, enabling them to channel their transaction volumes through the Group’s system as aninternational remittance intermediary. Through this model, they can achieve substantial cost savings while gainingimmediate access to more transaction corridors that were previously unavailable to them. (4) Health technology initiatives The Group's venture into the health technology sector is expected to yield promising developments for the Group inthe long run, with a hospital project in Thailand as well as the Hospital Information System (HIS) implementationsat several hospitals in Malaysia. These initiatives align with Malaysia's broader digital health transformationstrategy. Currently, most of the health clinics in Malaysia do not have digital health records, highlighting thesignificant growth potential in this sector. The Malaysian government's phased implementation of digital healthinitiatives aims to fully digitalise half of government health clinics by 2030, presenting substantial opportunities forhealth technology providers. The Group's involvement in these pioneering projects is expected to allow the Groupto expand its health technology business in Malaysia and the region. (5) Digital banking business The intention for MBO Bank is to offer a full suite of offshore financial services, including digital deposits, Islamicfinancing, cross-border corporate and other digital banking solutions under the Labuan FSA regulatory frameworkto be delivered through a Shariah-compliant platform to international clients. Labuan serves as an offshore financialcentre, offering digital financial solutions for offshore entities and is currently actively promoting Islamic digitalbanking through specific regulations to capitalise on global trends. As the broader digital banking platform marketis expanding, the Group's Islamic digital banking operations, on the basis that MBO Bank can satisfy all theconditions of approval from Labuan FSA, would benefit from these worldwide trends in the long run. The Group anticipates a challenging business environment and remains cautious about the outlook for the remainder of2026. Nonetheless, the first payment of RM40.0 million (c. £6.84 million) in cash for the Disposal will represent a positiveand material financial development for the Group, including the Group’s future financial position, business operations andgrowth initiatives.
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Six months Six months Financial year Ended Ended Ended 30 June 2026 30 June 2025 31 Dec 2025 Unaudited Unaudited AuditedCONTINUING OPERATIONS £ £ £ Revenue 113,679,923 115,956,978 236,104,967Cost of sales (106,883,501) (110,368,404) (222,903,219) GROSS PROFIT 6,796,422 5,588,574 13,201,748 Other operating income 35,756 15,741 374,227Operating expenses (7,059,119) (6,113,592) (14,334,114)Other operating expenses (194,979) (187,038) (391,912)Net loss on financial instruments - - (432,871) OPERATING LOSS (421,920) (696,315) (1,582,922) Finance income 17,301 12,746 42,281Finance costs (456,777) (204,038) (953,904)Impairment loss on investment in associates (1,908,631)Share of post-tax loss of equity accounted associates (157,101) (113,905) (327,932) LOSS BEFORE TAX (1,018,497) (1,001,512) (4,731,108) Tax (415) (139,146) (144,754) LOSS FROM CONTINUINGOPERATIONS (1,018,912) (1,140,658) (4,875,862) Attributable to: Owners of the parent (1,035,721) (1,138,860) (4,871,876)Non-controlling interest 16,809 (1,798) (3,986) (1,018,912) (1,140,658) (4,875,862) LOSS PER SHARE Basic loss per share (pence) (0.974) (1.071) (4.583)Diluted loss per share (pence) - - (4.583) LOSS FOR THE PERIOD/YEAR (1,018,912) (1,140,658) (4,875,862) OTHER COMPREHENSIVE (LOSS)/PROFIT Foreign currency translation (23,865) (196) 43,422 TOTAL COMPREHENSIVE LOSS In the mobile phone prepaid airtime reloads and bill payment services, the Group has embarked on a marketing strategyaimed at protecting its market share, with a focus on improving service quality while avoiding any pricing wars. The e-payments business is also expected to grow as more businesses and transactions shift online. As for the international remittance business, the Group will continue marketing campaigns to capture greater market sharewhile optimising foreign exchange and fee structures to improve margins. In addition, the Group has formed partnershipswith other local remittance licencees to leverage complementary strengths, such as agent network reach and regionalexpertise to enhance the Group’s overall product offerings and broaden payout channels. These alliances, alongsideenhanced connectivity with cash-in and cash-out partners, are expected to drive transaction volume growth and helpimprove the Group’s overall margins. Meanwhile, in the health technology segment, the Group and its associated company, Hati, are making good progress, withseveral contracts recently secured from hospitals in Thailand and Malaysia. This includes a contract with Sripath MedicalCentre in Thailand for system development, system support and maintenance for a period of five years. The hospitals inMalaysia include three government-linked hospitals which are part of Selgate Corporation, a subsidiary of the SelangorState Development Corporation in Malaysia, for hospital systems with five years of system support and maintenance. Theabove contracts will serve as good references for Hati to expand into the Malaysian and Southeast Asian’s electronicmedical record and hospital information systems markets. While the health technology business shows strong promise, italso faces notable challenges, particularly rising manpower costs, increased competition from regional players, and theneed for Hati to carefully manage its project pipeline to avoid overcommitment and to maintain service quality andpost‐implementation support excellence. For MBO Bank, the Group is working towards meeting the required conditions to commence the digital bankingoperations and the Board believes that there is a good potential for this digital platform to drive long-term value for theGroup. Abu Bakar bin Mohd TaibChairman 29 September 2026 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOMEFOR THE SIX MONTHS PERIOD ENDED 30 JUNE 2026
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FOR THE PERIOD/YEAR (1,042,777) (1,140,854) (4,832,440) Total comprehensive loss attributable to: Owners of the parent (1,059,286) (1,139,465) (4,830,072)Non-controlling interest 16,509 (1,389) (2,368) (1,042,777) (1,140,854) (4,832,440) CONSOLIDATED STATEMENT OF FINANCIAL POSITIONAS AT 30 JUNE 2026 At At At 30 June 2026 30 June 2025 31 Dec 2025 Unaudited Unaudited Audited £ £ £Assets Non-current assets Intangible assets 464,915 510,410 499,981 Property, plant and equipment 319,773 395,491 393,665 Investment property 254,395 244,062 254,945 Right-of-use assets 272,721 217,078 180,446 Loan Receivables 121,233 225,237 106,445 Investment in associate 2,372,575 4,413,410 2,501,223 Other investment 12,049 11,264 11,919 3,817,661 6,016,952 3,948,624Current assets Inventories 724,933 791,848 1,378,588 Trade and other receivables 4,163,312 3,893,469 4,110,307 Loan Receivables 1,579,138 1,483,130 1,682,554 Other financial assets 710,322 512,924 641,186 Tax recoverable 5,056 28,331 5,001 Cash and cash equivalents 2,316,632 2,484,317 3,431,859 9,499,393 9,194,019 11,249,495 Total Assets 13,317,054 15,210,971 15,198,119 Shareholders’ equity Equity attributable to owners of theparent: Called up share capital 2,657,470 2,657,470 2,657,470 Share premium 909,472 909,472 909,472 Reverse acquisition reserve 708,951 708,951 708,951 Foreign currency translation reserve 592,341 571,879 615,906 Accumulated losses (10,855,912) (6,087,175) (9,820,191)Shareholders’ equity (5,987,678) (1,239,403) (4,928,392)Non-controlling interest (276) (15,806) (16,785)Total Equity (5,987,955) (1,255,209) (4,945,177) Liabilities Non-current liabilities Loans and borrowings – secured 177,604 177,764 180,419 Lease liabilities 182,036 75,440 130,401 Deferred tax liabilities 481 753 476 360,121 253,957 311,296Current liabilities Trade and other payables 6,305,961 4,402,715 7,398,668 Deferred consideration due 5,190,279 4,852,098 5,134,129 Amount due to directors 60,013 52,300 43,013 Loans and borrowings – secured 7,290,404 6,765,493 7,202,915 Lease liabilities 98,230 139,617 53,275 18,944,887 16,212,223 19,832,000Total Liabilities 19,305,008 16,466,180 20,143,296 Total Equity and Liabilities 13,317,054 15,210,971 15,198,119
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CONSOLIDATED STATEMENT OF CHANGES IN EQUITYFOR THE SIX MONTH PERIOD ENDED 30 JUNE 2026 Non-Distributable Distributable Foreign Reverse Currency Non- Share Share Acquisition Translation Accumulated Controlling Capital Premium Reserve Reserve Losses Total Interest £ £ £ £ £ £ £ As at 1 January 2025 2,657,470 909,472 708,951 572,484 (4,948,315) (99,938) (14,417) Loss for the period - - - - (1,138,860) (1,138,860) (1,798)Foreign currency translation - - - (605) - (605) 409 As at 30 June 2025 2,657,470 909,472 708,951 571,879 (6,087,175) (1,239,403) (15,806) As at 1 July 2025 2,657,470 909,472 708,951 571,879 (6,087,175) (1,239,403) (15,806)Loss for the period - - - - (3,733,016) (3,733,016) (2,188)Foreign currency translation - - - 44,027 - 44,027 1,209 As at 31 Dec 2025 2,657,470 909,472 708,951 615,906 (9,820,191) (4,928,392) (16,785) As at 1 January 2026 2,657,470 909,472 708,951 615,906 (9,820,191) (4,928,392) (16,785)Loss for the period - - - - (1,035,721) (1,035,721) 16,809Foreign currency translation - - - (23,565) - (23,565) (300) As at 30 June 2026 2,657,470 909,472 708,951 592,341 (10,855,912) (5,987,678) (276) Share capital is the amount subscribed for shares at nominal value. Share premium represents the excess of the amount subscribed for share capital over the nominal valueof the respective shares net of share issue expenses. The reverse acquisition reserve relates to the adjustment required by accounting for the reverseacquisition in accordance with IFRS 3. The Company’s assets and liabilities stated in the Statement of Financial Position were translated intoPound Sterling (£) using the closing rate as at the Statement of Financial Position date and the IncomeStatements were translated into £ using the average rate for that period. All resulting exchangedifferences are taken to the foreign currency translation reserve within equity. Accumulated losses represent the cumulative earnings of the Group attributable to equity shareholders. Non-controlling interests represent the share of ownership of subsidiary companies held outside theGroup.
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CONSOLIDATED STATEMENT OF CASH FLOWSFOR THE SIX MONTH PERIOD ENDED 30 JUNE 2026 Six months Six months Financial year Ended Ended Ended 30 June 2026 30 June 2025 31 Dec 2025 Unaudited Unaudited Audited £ £ £Cash flows (used in)/ from operating activities Cash (used in)/ from operations (575,159) (1,154,836) 532,405Interest received 18,745 12,746 42,281 Tax paid (411) (136,925) (145,020) Tax refund - 141,952 174,544Net cash (used in)/ from operating activities (556,825) (1,137,063) 604,210 Cash flows from/ (used in) investing activities Purchase of property, plant and equipment (10,229) (24,458) (97,352) Addition to investments in associate - (40,766) - Proceeds from disposal of property, plant & equipment 14,635 - 1,450Proceeds from disposal of subsidiary - - (136) Net cash from/ (used in) investing activities 4,406 (65,224) (96,038) Cash flows used in financing activities Interest paid (457,261) (203,746) (953,904)Net change of banker acceptance 8,711 57,185 311,551Net change in other financial assets pledged (62,124) 7,475 (120,787)Repayment of lease liabilities (57,401) (53,400) (112,738)Repayment of term loan (4,789) (3,955) (4,889)Net cash used in financing activities (572,864) (196,441) (880,767) Decrease in cash and cash equivalents (1,125,283) (1,398,728) (372,595) Effect of foreign exchange rate changes 10,057 (96,138) (174,729) Cash and cash equivalents at beginning ofperiod/year 3,431,859 3,979,183 3,979,183 Cash and cash equivalents at end of period/year 2,316,632 2,484,317 3,431,859 NOTES TO THE INTERIM FINANCIAL STATEMENTS 1. Basis of preparation The Group’s interim financial statements for the six months ended 30 June 2026 were authorised for issue by theBoard of Directors on 28 September 2026. The interim financial statements are unaudited and have been prepared in accordance with InternationalFinancial Reporting Standards (IFRSs and IFRIC interpretations) issued by the International AccountingStandards Board (IASB), as adopted by the European Union, and with those parts of the Companies (Jersey)Law 1991 applicable to companies preparing their financial statements under IFRS. It has been prepared inaccordance with IAS 34 "Interim Financial Reporting" and does not include all of the information required forfull annual financial statements. The financial statements have been prepared under the historical costconvention. Full details of the accounting policies adopted, which are consistent with those disclosed in the Company's 2025Annual Report, will be included in the audited financial statements for the year ending 31 December 2026. 2. Basis of consolidation The consolidated statement of comprehensive income and statement of financial position include financialstatements of the Company and its subsidiaries made up to 30 June 2026. 3. Nature of financial information The unaudited interim financial information for the six months ended 30 June 2026 does not constitute statutoryaccounts under the meaning of Section 435 of the Companies Act 2006. The comparative figures for the yearended 31 December 2025 are extracted from the audited statutory financial statements. Full audited financialstatements of the Group in respect of that financial year prepared in accordance with IFRS, which we receivedan unqualified audit opinion, have been delivered to the Registrar of Companies. 4. Functional and presentation currency (i) Functional and presentation currency Items included in the financial statements of each of the Group's entities are measured using the currencyof the primary economic environment in which the entity operates (the functional currency). Thefunctional currency of the Group is Ringgit Malaysia (RM). The consolidated financial statements arepresented in Pound Sterling (£), which is the Company's presentational currency as this is the currencyused in the country in which the entity is listed. Assets and liabilities are translated into Pound Sterling (£) at foreign exchange rates ruling at theStatement of Financial Position date. Results and cash flows are translated into Pound Sterling (£) usingaverage rates of exchange for the period.
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(ii) Transactions and balances Foreign currency transactions are translated into the functional currency using exchange rates prevailingat the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of suchtransactions and from the translation at year/period-end exchange rates of monetary assets and liabilitiesdenominated in foreign currencies are recognised in the statement of comprehensive income. The financial information set out below has been translated at the following rates: Exchange rate (RM: £) At Statement ofFinancial Position date Average for year/PeriodPeriod ended 30 June 2026 5.39 5.36Period ended 30 June 2025 5.77 5.68Year ended 31 December 2025 5.45 5.47 5. Segmental analysis The Group has two operating segments as follows: (a) Telecommunication services and electronic commerce solutions; and(b) Hardware and services, including selling of hardware, remittance services and money lending income.No segmental analysis of assets and capital expenditure are presented as they are mostly unallocated itemswhich comprise corporate assets and liabilities. No geographical segment information is presented as morethan 95% of the Group’s revenue was generated in Malaysia. Group Telecommunicationservices andelectroniccommercesolutions Hardwareand services Elimination Total 6 months ended 30June 2026 £ £ £ £ Segment revenue: Sales to externalcustomers 109,049,430 4,630,493 - 113,679,923 Inter-segment 43,952 (43,952) - 109,049,430 4,674,445 (43,952) 113,679,923 Loss before tax - - (1,018,497)Tax - - (415)Loss for the period - - (1,018,912) Group6 months ended 30June 2025 Segment revenue: Sales to externalcustomers 113,494,713 2,462,265 - 115,956,978 Inter-segment 46,209 (46,209) - 113,494,713 2,508,474 (46,209) 115,956,978 Loss before tax - - (1,001,512)Tax - - (139,146)Loss for the period - - (1,140,658) GroupFinancial year ended31 Dec 2025 Segment revenue: Sales to externalcustomers 231,621,290 4,483,677 - 236,104,967 Inter-segment 93,091 (93,091) - 231,621,290 4,576,768 (93,091) 236,104,967 Loss before tax - - (4,731,108)Tax - - (144,754)Loss for the year - - (4,875,862) *The disclosure for non-cash expenses has not been split according to the different segments as the cost toobtain such information is excessive and provides very little by way of information. 6. Taxation Taxation on the income statement for the financial period comprises current and deferred tax. Current tax isthe expected amount of taxes payable in respect of the taxable profit for the financial period and ismeasured using the tax rates that have been enacted at the Statement of Financial Position date. Deferred tax is recognised on the liability method for all temporary differences between the carryingamount of an asset or liability in the Statement of Financial Position and its tax base at the Statement ofFinancial Position date. Deferred tax liabilities are recognised for all taxable temporary differences anddeferred tax assets are recognised for all deductible temporary differences, unused tax losses and unused taxcredits to the extent that it is probable that future taxable profit will be available against which thedeductible temporary differences, unused tax losses and unused tax credits can be utilised. Deferred tax is
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Six months Six months Financial year ended ended ended 30 June 2026 30 June 2025 31 Dec 2025 Unaudited Unaudited Audited £ £ £Cash flow used in operating activities Loss before tax (1,018,497) (1,001,512) (4,731,108) Adjustments for: Amortisation of intangible assets 40,820 38,508 79,926 Amortisation of right-of-use assets 62,114 57,604 121,554 Bad debt written off - - 599 Depreciation of property, plant and equipment 92,045 87,754 183,849 Depreciation of investment property - 3,172 6,583 Deposits written off - - 1,499 Gain on disposal of property, plant & equipment (14,384) (430) (1,265) Gain on termination of right-of-use assets - - - Impairment loss on trade receivables - - 883,635 Impairment loss on others receivables - 9,982 Impairment loss on amount due from associate - 308,766 Impairment loss on investment in associate - 1,908,631 Gain on disposal of subsidiary - - (1,490) Interest expenses 457,261 203,746 953,904 Interest income (18,745) (12,746) (42,281) Property, plant and equipment written off - - 2,722 Reversal on impairment loss on tradereceivable - - (769,512) Unrealised loss on forex 38,768 - 54,993 Share of post-tax loss of equity accountedassociates 157,101 109,634 323,656 Operating (loss) before working capitalchanges (203,517) (514,270) (705,357) Decrease/ (Increase) in inventories 668,733 461,065 (91,735) Increase in receivables 115,810 (838,428) (1,416,465) Increase/ (Decrease) in amount due to directors &shareholder 17,000 468 (8,819) (Decrease)/Increase in payables (1,173,185) (263,671) 2,754,781 Cash (used in)/ generated from operations (575,159) (1,154,836) 532,405 not recognised if the temporary difference arises from goodwill or negative goodwill or from the initialrecognition of an asset or liability in a transaction which is not a business combination and at the time of thetransaction, affects neither accounting profit nor taxable profit. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period whenthe asset is realised or the liability is settled, based on the tax rates that have been enacted or substantivelyenacted by the Statement of Financial Position date. The carrying amount of a deferred tax asset is reviewedat each Statement of Financial Position date and is reduced to the extent that it becomes probable thatsufficient future taxable profit will be available. Deferred tax is recognised in the income statement, except when it arises from a transaction which isrecognised directly in equity, in which case the deferred tax is also charged or credited directly in equity, orwhen it arises from a business combination that is an acquisition, in which case the deferred tax is includedin the resulting goodwill or negative goodwill. 7. Loss per share The basic loss per share is calculated by dividing the profit or loss in the six month period ended 30 June 2026 of£1,035,721 (30 June 2025: £1,138,860 and year ended 31 December 2025: £4,871,876) attributable to owners ofthe parent by the number of ordinary shares outstanding at 30 June 2026 of 106,298,780 (30 June 2025:106,298,780 and 31 December 2025: 106,298,780). There is no diluted earnings per share for the six month period ended 30 June 2026 as there were no outstandingdilutive share options during the period, which had expired on 4 December 2024. 8. Reconciliation of loss before tax to cash generated from operations 9. Contingent liabilities In the period under review, corporate guarantees of RM44.1 million (£8.17 million) (H1 2025: RM44.1 million(£7.64 million)) were given to a licensed bank by the Company for credit facilities granted to a subsidiarycompany. 10. Significant accounting policies The interim consolidated financial statements have been prepared applying the same accounting policies thatwere applied in the preparation of the Company's published consolidated financial statements for the year ended31 December 2025 except for the adoption of new and amended reporting standards, which are effective forperiods commencing on or after 1 January 2026. Various amendments to standards and interpretations ofstandards are effective for periods commencing on or after 1 January 2026 as detailed in the 2025 AnnualReport, none of which have any impact on reported results.
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Amortisation of intangible assets Software is amortised over its estimated useful life. Management estimated the useful life of this asset to bewithin 10 years. Changes in the expected level of usage and technological development could impact theeconomic useful life therefore future amortisation could be revised. The Group determines whether goodwill is impaired at least on an annual basis. This requires an estimation ofthe value-in-use of the cash generating units ("CGU") to which goodwill is allocated. Estimating a value-in-useamount requires management to make an estimation of the expected future cash flows from the CGU and alsoto choose a suitable discount rate in order to calculate the present value of those cash flows. The research and development costs are amortised on a straight-line basis over the life span of the developedassets. Management estimated the useful life of these assets to be within 5 years. Changes in the technologicaldevelopments could impact the economic useful life and the residual values of these assets, therefore futureamortisation charges could be revised. Impairment of goodwill on consolidation The Group's cash flow projections include estimates of sales. However, if the projected sales do not materialisethere is a risk that the value of goodwill would be impaired. The Directors have carried out a detailed impairment review in respect of goodwill. The Group assesses at eachreporting date whether there is an indication that an asset may be impaired, by considering cash flowsforecasts. The cash flow projections are based on the assumption that the Group can realise projected sales. Aprudent approach has been applied with no residual value being factored. At the period end, based on theseassumptions there was no indication of impairment of the value of goodwill or of development costs. Research and development costs All research costs are recognised in the income statement as incurred. Expenditure incurred on projects to develop new products is capitalised and deferred only when the Group candemonstrate the technical feasibility of completing the intangible asset so that it will be available for use or sale,its intention to complete and its ability to use or sell the asset, how the asset will generate future economicbenefits, the availability of resources to complete the project and the ability to measure reliably the expenditureduring the development. Product development expenditures which do not meet these criteria are expensed whenincurred. Development costs, considered to have finite useful lives, are stated at cost less any impairment losses and areamortised through other operating expenses in the income statement using the straight-line basis over thecommercial lives of the underlying products not exceeding 5 years. Impairment is assessed whenever there is anindication of impairment and the amortisation period and method are also reviewed at least at each Statement ofFinancial Position date. 11. Dividends The Company has not proposed or declared an interim dividend. 12. Interim report This interim financial statement will, in accordance with Rule 26 of the AIM Rules for Companies, beavailable shortly on the Company’s website at www.mobilityone.com.my. -Ends-
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