Announcement PDF Delivering a more sustainable future. ANNUAL REPORT 2026 2 VERBREC ANNUAL REPORT | 2026 Delivering value across the full asset lifecycle. Additional documents available to view at: verbrec.com DISCLAIMER This Annual Report may contain forward-looking statements, guidance and statements of a general nature regarding the industries, markets and geographies that Verbrec serves. Albeit statements of this nature reflect the Company’s opinion and expectations as at the date of this Annual Report, they cannot be relied upon as guarantees or accurate predictions of future performance or outcomes. Except as required by law and the ASX Listing Rules,Verbrec does not intend to publicly update or review any forward-looking statements or statements of a general nature should the underlying assumptions change, or future events transpire differently to expectations. 3 | OVERVIEW | CONTEXT & STRATEGY  | DIRECTORS' REPORT | REMUNERATION REPORT | FINANCIAL STATEMENTS 4 4 8 9 10 11 12 14 14 16 17 19 26 26 28 29 30 32 33 34 36 36 37 Directors’ Report Remuneration Report Auditor’s Independence Declaration Financial Statements Consolidated Statement of Profit or Loss and Other Comprehensive Income Consolidated Statement of Changes in Equity Consolidated Statement of Cash Flows Notes to the Financial Statements Consolidated Entity Disclosure Statement Directors’ Declaration Independent Auditor’s Report ASX Information Corporate Directory FY26 Contents 40 52 64 66 68 70 71 72 117 119 120 124 127 Overview Group Highlights Who We Are What Drives Us Chairman’s Letter Our Board of Directors Managing Director’s Letter Context & Strategy Positioned for a Changing Industrial Landscape Capturing the Opportunity Our Strategy for Growth Operational Overview Sector Outlook Energy Gas Transition and Decarbonisation Low Carbon Energy Infrastructure Water Security Defence Mining & Resources Digital Capabilities Across Growth Markets Cyber Security for Operational Technology Industrial Automation, Data and Machine Learning Group Highlights 4 VERBREC ANNUAL REPORT | 2026 NET PROFIT AFTER TAX $10.4M Last year $3.7M $3.3M from continuous operations (last year $1.3m) STRONG NET CASH POSITION $11.7M Last year $2.3M *Including cash term deposits REVENUE $118.5M Continuing operations Up 52.1% on FY2025: $77.9M GROSS MARGIN UP 35.5% From 34.8% Strategic Focus of what Verbrec does well DIVIDEND APPROVED 0.25CPS (0.1cps interim, 0.15cps final) $5.4M of franking credits retained HAZARD REPORTS SUBMITTED HSEQ LEADERSHIP CONVERSATIONS SINCE LAST LOST TIME INJURY 525 15 10YRS FINANCIAL HIGHLIGHTS 2026 IN REVIEW SAFETY HIGHLIGHTS Safety. Zero Harm, Always. LTIFR MTIFR TRIFR FY2016 1.14 1.14 2.28 FY2017 0 2.39 3.59 FY2018 0 1.45 4.35 FY2019 0 0 0 FY2020 0 0 0 FY2021 0 0 0 FY2022 0 4.35 8.70 FY2023 0 1.20 6.02 FY2024 0 0 4.58 FY2025 0 3.48 3.48 FY2026 0 2.6 2.6 $m 2022 2023 2024 2025 2026 REVENUE 121.4 109.9 93.4 77.9 118.5 GROSS PROFIT 35.4 36.9 33.4 27.1 42.1 GROSS PROFIT MARGIN 29.2% 33.6% 35.8% 34.8% 35.5% EBITDAI / EBITDA 3.0 -2.9 8.8 5.0 8.1 EBITDAI / EBITDA MARGIN 2.5% -2.6% 9.4% 6.4% 6.8% NPBT (CONTINUING OPS) -3.4 -6.8 4.4 1.0 3.3 INCOME TAX BENEFIT / (EXPENSE) 0.3 0.4 0.4 0.2 0.1 PROFIT / (LOSS) FROM DISCONTINUED OPS - -3.1 -2.8 2.5 7.1 NPAT (AFTER DISCONTINUED OPS) -3.1 -9.5 1.9 3.7 10.4 NET CASHFLOW FROM OPERATIONS 3.1 -3.9 2.0 6.5 5.8 GROUP EBITDA $15.4M Last year $7.9M From continuous operations: $8.1M 6.8% - last year $5M (6.4%) 5 | OVERVIEW | CONTEXT & STRATEGY  | DIRECTORS' REPORT | REMUNERATION REPORT | FINANCIAL STATEMENTS 56% 44% 61% Key Relationship Clients 39% 41% Project Reimbursable Fixed Price 36% 18% Mining PROPORTION OF REVENUE: Multi-year Revenue Sources By Commercial Model By Sector Top 20 Relationship Client Revenue 61% Key Relationship Clients 39% 50% 41% 9% Project Recurring O&M Revenue Repeatable Panel Agreement Revenue Project Revenue 56% 44% 61% Key Relationship Clients 39% 50% 41% 9% Project Recurring O&M Revenue Repeatable Panel Agreement Revenue Project Revenue Reimbursable Fixed Price 36% Energy 6% 21% 11% Manufacture Wate Infrastructure 18% Mining 8% Defence 56% 44% Reimbursable Fixed Price 36% Energy 6% 21% 11% Manufacture Water Infrastructure 18% Mining 8% Defence BUILDING A STRONGER REVENUE BASE Long-term relationships and multi-year agreements provide greater revenue visibility and support sustainable growth. INDUSTRY SEGMENTS: 20 KEY CLIENT ACCOUNTS 87 PANEL AGREEMENTS Multi-year 15 O&M CONTRACTS Multi-year operation 50% MULTI-YEAR REPEATABLE Agreement revenue 6 VERBREC ANNUAL REPORT | 2026 PEOPLE ACHIEVEMENTS: • Developed the Verbrec Capability Framework, creating a consistent approach to employee development across the business. • Introduced the Verbrec Leadership Development Program to strengthen leadership capability and build organisational succession readiness. • Launched the Sales & Marketing Development Program, including a focus on Key Account Management capability. • Implemented Culture Amp to strengthen employee engagement, feedback and benchmarking. • Launched Verbrec's Employee Value Proposition (EVP), strengthening our ability to attract, engage and retain talent. • Enhanced the National Graduate Program to provide a more structured and consistent development experience for early career professionals Business Units reducing non-billable time. TRANSFORMATION ACHIEVEMENTS: • Divestment of the Competency Training business, paving the way for transformational acquisition of Alliance Automation. • Introduction of Operational Technology (OT) and Cyber Security capability via Alliance Automation. • Refreshed Vision, Mission and Values to represent the broader business. • General Manager – Growth and Energy Transition raising Verbrec’s industry profile, forging partnerships with technology providers and driving growth. • Increased market presence as a thought leader in Energy across conventional and emerging. • Continued ongoing adoption of AI with data migration, training and the roll out of internal tools. • Transition towards an AI enabled partner across the asset lifecycle. • New Document Management, Engineering and Project Delivery Hub being piloted. • Co-location of Verbrec and Alliance Automation teams in Western Australia and South Australia completed. • Re-structured the WA business to consolidate all EI&C under Alliance Automation and leadership. • Appointment of new General Manager NZ to expand the NZ operations. OPERATIONAL HIGHLIGHTS OPERATIONAL EXCELLENCE: • Continued strong project delivery performance, with the entire portfolio of 2200+ active projects for FY2026 achieving a Cost Performance Index (CPI) of 1.17 at aggregate. • 2200+ projects contributing to FY2026 delivered above bid margin at aggregate, with gross margin again up year on year. • Net project write-ups of 5.2%. • Overall win rates ($:$) remain strong at 34% for FY2026. • Robust project control as demonstrated by 5.2% project write ups. • Investment in automated project reporting. • Continued our robust safety record with now 10 years with no Lost Time Injuries. • Record Work In Hand and Forward pipeline. 7 | OVERVIEW | CONTEXT & STRATEGY  | DIRECTORS' REPORT | REMUNERATION REPORT | FINANCIAL STATEMENTS Integrated expertise for complex projects and critical assets. ABOUT VERBREC 8 VERBREC ANNUAL REPORT | 2026 Who We Are CORE SECTORS GROWTH MARKETS ADDING VALUE TO EVERY STAGE OF THE LIFECYCLE OF AN ASSET Align. Advise. Plan. Design. Engineer. Value. Control. Automate. Integrate. Build. Implement. Commission. Operate. Maintain. Support. Improve. Optimise. Extend. Decommission. Re-purpose. Close out. An integrated engineering, automation and asset-performance partner supporting critical industrial assets across their entire lifecycle. EXPANDED CAPABILITY. GREATER REACH. More than 700 people operating across Australia and New Zealand, with expanded capability through a strategic partnership in India. PARTNERING THROUGH A CHANGING INDUSTRIAL LANDSCAPE Supporting clients across established sectors, transition markets and increasingly digital operations. ONE TRUSTED PARTNER ACROSS THE ASSET LIFECYCLE Integrated, end-to-end capabilities that help clients develop, operate and optimise critical assets. Advisory Engineering Automation & Control Construction Operations Asset Management End of Life Advisory Gas market transition Electrification and energy storage OT cyber security Industrial automation, data and machine learning Engineering Automation & Control Construction Operations Asset Management End of Life Manufacturing Energy Mining and Resources Infrastructure Water Security Defence Advisory Gas market transition Electrification and energy storage OT cyber security Industrial automation, data and machine learning Engineering Automation & Control Construction Operations Asset Management End of Life Manufacturing Energy Mining and Resources Infrastructure Water Security Defence ABOUT VERBREC 9 | OVERVIEW | CONTEXT & STRATEGY  | DIRECTORS' REPORT | REMUNERATION REPORT | FINANCIAL STATEMENTS What Drives Us OUR PURPOSE OUR AMBITION HOW WE GROW AND CREATE VALUE OUR WAYS OF WORKING Through trusted partnerships, deploying the best people and technologies, we deliver a smarter, brighter, more sustainable future for our clients and their customers. To be the recognised partner for a smarter, more sustainable future. Built on five pillars: Trusted Partnerships Collaboration We are better together. Strategic Growth Integrity We do what we say. Best People, Great Teams Impact We deliver outcomes that matter. Technology & innovation Curiosity We find better ways. Delivery & Operational Excellence ORGANIC GROWTH Cross-selling, Untapped geographic expansion opportunity, Industry tailwinds. CAPABILITY EXPANSION Partnerships with technology leaders, Strategic recruitment, Employee upskilling and training. FINANCIAL DISCIPLINE Track record of improving margins, Staged plan to increase Group profitability. STRATEGIC ACQUISITIONS Geographic expansion, Bolt-on capability, Technological capability expansion. Care We put people and safety first. VERBREC ANNUAL REPORT | 2026 10 "Verbrec has entered a new growth phase after the divestment of Competency Training and acquisition of Alliance Automation. The strength of our balance sheet provides flexibility and, opportunities for investment and growth. I am proud to increase our dividend to shareholders in FY2026." Chairman's Letter independent provider of industrial automation, digital transformation, operational technology and industrial cyber security services. At the time of acquisition, Alliance Automation employed approximately 275 engineers and professional staff across Australia servicing a tier-one client base. This was a truly transformational financial year. We have released capital from a non-core asset and acquired new capability that our clients are actively asking for in a high growth market segment. FINANCIAL PERFORMANCE The Board is pleased with a result that is significantly improved over prior years and at the same time better balanced across our operating verticals. Gross margin on a continuing operations basis improved to 35.5% (FY2025: 34.8%). Adjusted EBITDA of $8.7 million landed within the guidance range confirmed to the market in July, and group EBITDA of $15.4 million reflects the one-off gain on the Competency Training sale. CAPITAL MANAGEMENT AND DIVIDEND A fundamental objective of the Board is the disciplined use of capital to grow total shareholder returns. In FY2026 that took three forms: • The divestment of Competency Training • The acquisition of Alliance Automation • The continuation and growth of the dividend program which we reinstated in FY2025 Shareholders received a fully franked final dividend of 0.1 cents per share for FY2025, paid in October 2025, and a fully franked interim dividend of 0.1 cents per share for H1 FY2026, paid in April 2026. The Board has determined a final dividend for FY2026 of 0.15 cents per share, fully franked. Our balance sheet is strong and provides optionality. On behalf of the Board and management, I am proud to present Verbrec’s Annual Report for the financial year ended 30 June 2026. Over the past three years, in my annual reports, I have written about repair, then about consistency, and then about the return of profits and dividends. This year I write to report about growth. FY2026 was the year the platform we spent three years rebuilding was put to work. The Company delivered revenue from continuing operations of $118.5 million, up 52% on the prior year, and an adjusted EBITDA on a continuing operations basis of $8.7 million, up 47% on the prior year. We ended the year with net cash of $11.7 million and net assets of $34.6 million, and we have increased our dividend. TRANSFORMING THE COMPANY Two transactions defined the year. In September 2025 we agreed to sell Competency Training to RelyOn Australia for $11.5 million in cash, completing on 1 December 2025 with $11.2 million received after adjustments. Competency Training had been part of Verbrec since 2008 and was a profitable business run by good people. It was not, however, core to the engineering, asset management and operations business Verbrec has become, and the Board judged that the capital was better deployed elsewhere. The following day, 2 December 2025, we completed the acquisition of Alliance Automation from Telstra for $5.5 million, funded entirely from the balance sheet with no equity issued. Alliance Automation is arguably Australia’s largest | OVERVIEW | CONTEXT & STRATEGY | DIRECTORS' REPORT  | REMUNERATION REPORT  | FINANCIAL STATEMENTS 11 Mark Read MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER The Board’s focus now turns to ensuring that the projected solid growth in revenues is executed to yield increased margins. Delivering on the integration, scale and synergy benefits available to the group via the Alliance Automation acquisition will be key to success and the management’s bonuses will be dependent on it. ACKNOWLEDGMENT To our shareholders, thank you for your continued support and conviction. To those who held through the difficult years, I hope this result reads as a vindication of your patience. I thank my fellow directors for their counsel through a demanding year of transactions, and Mark Read and the executive team for delivering a result that has changed what this Company is capable of. With $20.2 million of cash and a net cash position of $11.7 million, Verbrec is able to fund organic growth, invest in capability, and continue to evaluate bolt-on acquisitions that fit the strategy. OUR PEOPLE Verbrec is a people business, and this year we asked a great deal of our people. Integrating a business of Alliance Automation’s scale while delivering a record volume of work is demanding, and the Board recognises the effort that went into it. The Board also acknowledges the executive team’s work in bringing two organisations together without losing the delivery discipline that has driven the improvement in margins over the past three years. For the tenth year in a row, we have recorded no lost time injuries. BOARD OF DIRECTORS We welcomed Mark Read to the Board in March 2026 when he accepted the appointment as Managing Director of the Verbrec group, having previously served as CEO since 2023. Mark’s extensive experience in the industry rounds out our Board’s capability and we consider him to be a valuable addition. Mark continues to lead the operations of the business. As the Company grows, the Board continues to consider the mix of skills and experience required around the table, while at the same time being mindful of board renewal and planning for succession. OUTLOOK Verbrec enters FY2027 with work in hand of $78 million and an opportunity pipeline of $277 million, and the Company has provided guidance of $140 million to $160 million in revenue and $10 million to $12 million in adjusted EBITDA for the year ahead. Whilst market conditions are becoming more favourable for our key markets, we remain cautious of the geopolitical tensions across the globe. Australia and New Zealand are investing in energy and water security and in the infrastructure that underpins it. The demand for automation, operational technology and cyber security in critical infrastructure is growing quickly. Brian O’Sullivan (AM) NON-EXECUTIVE DIRECTOR Matthew Morgan NON-EXECUTIVE DIRECTOR Phillip Campbell NON-EXECUTIVE CHAIR Read teams' full bio's here. Our Board of Directors VERBREC ANNUAL REPORT | 2026 12 A CAPABILITY TRANSFORMATION In December we completed two positive and transformational transactions within twenty-four hours of each other. We sold Competency Training to RelyOn for $11.5 million, receiving $11.2 million after adjustments. It was a business we had owned since 2008 and was one with good people and good operating margins. It was also a training business inside an engineering group, and the right home for it was a global training company. We acquired Alliance Automation from Telstra for $5.5 million (approx. five times FY2025 EBITDA) with no equity issued. Alliance Automation brings industrial automation and control, digital transformation, operational technology, cyber security and a developing machine learning and artificial intelligence capability, together with strong positions in water and wastewater, mining, manufacturing and Defence. Alliance Automation derives a substantial share of its revenue from clients we already serve, and Verbrec has clients who need automation and control capability at the scale Alliance Automation can deliver. Adjusted EBITDA margin of 7.3% is slightly below the prior year, as Alliance Automation came to us with a lower margin profile than Verbrec’s. Integrating a business of that size takes time and careful consideration. Lifting the combined group’s margin is the central operational task of FY2027 and it is where my attention and the executive team’s attention is directed. We aim for the group to produce 8% – 10% EBITDA margins over time as integration benefits and efficiencies are realised. Every stage of our partnership model (advisory, engineering, automation and control, construction, operations, asset management) is now covered in-house. A truly integrated offering providing services across the entire lifecycle of an asset. Managing Director's Letter "We live and breathe our strategy and the consistency of our results is evidence that we’ve found our footing. In FY2027, Verbrec will continue to deliver on its strategy, aligned with industry tailwinds as Australia and New Zealand seek to improve their energy security from an increasingly diversified energy mix." I proudly present Verbrec’s Annual Report for the financial year ended 30 June 2026. FY2026 was the most significant year of change in Verbrec’s recent history, with two transformational transactions, being the divestment of Competency Training and the acquisition of Alliance Automation. These have improved our capability, scale and relevance in the market. SAFETY The health and safety of our people, our clients and the communities in which we work remain the Board’s first concern. It is with pride that I can report a tenth consecutive year of zero lost-time injuries. The integration of Alliance Automation has meaningfully expanded the Group’s field and site-based workforce, and the Board has paid close attention to the alignment of safety systems, reporting and culture across the combined business through the second half. FINANCIAL PERFORMANCE On a continuing operations basis: • Revenue was $118.5 million, up 52% on FY2025 ($77.9 million) • Gross profit was up 55% to $42 million with gross margins also improving to 35.5% • Adjusted EBITDA was $8.7 million up 47% on FY2025 ($5.9 million) Including the gain on the sale of Competency Training and the impacts of discontinued operations, Group EBITDA was $15.4 million and comprehensive profit was $10.1 million. We closed the year with $20.2 million in cash and a net cash position of $11.7 million, having funded the Alliance Automation acquisition entirely from the balance sheet. | OVERVIEW | CONTEXT & STRATEGY | DIRECTORS' REPORT  | REMUNERATION REPORT  | FINANCIAL STATEMENTS 13 ACKNOWLEDGMENT I acknowledge the effort and enthusiasm from all Verbrec team members. We delivered strong results whilst navigating major changes in the scale of our business. To the Board, thank you for the support and the challenge through two significant transactions. To our shareholders, thank you for your continued confidence. We are only at the beginning as we continue this growth phase for our business. OPERATIONAL PERFORMANCE Work in hand finished the year at $78 million on a twelve-month look-ahead basis, up from $71 million at the half. Our opportunity pipeline grew to $277 million, from $203 million at the half and $131 million in the prior corresponding period. Our trailing tender win rate was 34%. The growth in the pipeline reflects genuine cross-selling and, more importantly, it reflects Verbrec being invited to bid on larger and more complex programs of work than we would have been considered for eighteen months ago. Panel and long-term operations and maintenance agreements now account for approximately half of Group revenue, which is the contracting model we have consistently said we want more of. These arrangements are repeatable, lower cost of sale, and built on relationships rather than one-off tenders. DIVERSIFICATION The revenue mix has changed materially. Energy remains our largest market at approximately 36% of revenue, but water has grown to approximately 21%, mining to 18%, infrastructure to 11%, Defence to 8% and manufacturing to 6%. Defence in particular has stepped up from a modest base, and our water and wastewater exposure is now our second largest revenue generator. We have diversified the business, reducing variables and sensitivities to any single client or market cycle. ENERGY SECURITY, SOVEREIGNTY AND TRANSITION The strongest tailwind in our market is the reinvestment cycle now underway in Australia’s gas system. AEMO’s 2026 Gas Statement of Opportunities forecasts shortfall risk under extreme peak day demand conditions in southern Australia from 2029, with additional supply required in most scenarios from 2030 as legacy southern fields decline. A more near-term demand is data centre build out in Australia as demand for global compute continues to grow. Assuming data centre projects will need to source their own power from a mix of renewables and gas, Verbrec is well placed to support this booming industry in years to come. In June we were awarded the McArthur River Pipeline Bi-Directional Upgrade Project by Power and Water Corporation, with an approximate value of $21 million, to be delivered in two stages through to 2028. The project will help unlock first commercial gas from the Beetaloo sub-basin and materially strengthen gas supply security in the Northern Territory. We see a tremendous amount of opportunity, and expect the body of energy security work to continue to build into FY2027. OUTLOOK We have guided to FY2027 revenue of $140 million to $160 million and adjusted EBITDA of $10 million to $12 million. We enter the year with a very strong work in hand and opportunity pipeline, a net cash balance sheet, and a capability set that lets us pursue work we could not have credibly pursued only a couple of years ago. The priorities for us are clear. Convert the pipeline, lift the margin of the combined group, and continue to deepen the relationships that generate repeat work. We will also continue to assess bolt-on acquisitions where they add capability that our clients are asking for, add a technological overlay or expand our geographic footprint. Positioned for a Changing Industrial Landscape Australia, New Zealand and the wider region are navigating significant changes in the way energy, resources and essential infrastructure are developed, operated and maintained. Decarbonisation remains a major driver, but it is increasingly being considered alongside energy security, affordability, productivity, resilience and sovereign capability. Energy systems are expanding and becoming more complex as renewable generation grows, ageing coal-fired generation retires and electricity demand increases. AEMO’s 2026 Integrated System Plan expects electricity consumption in the National Electricity Market to almost double over the coming decades, requiring substantial investment in generation, storage and networks. Beyond energy, asset owners are responding to ageing infrastructure, constrained capital, changing regulation and the need to improve the reliability and productivity of existing operations. Demand for established commodities and critical minerals continues alongside investment in more efficient, lower-emissions and increasingly automated production. Digital transformation is also reshaping industrial operations. Automation, connected control systems, operational data and artificial intelligence are creating opportunities to improve productivity and asset performance. However, increased connectivity is also elevating the importance of secure and resilient operational technology. These structural changes are influencing investment across Verbrec’s six core sectors—Energy, Mining and Resources, Infrastructure, Water Security, Defence and Manufacturing—and supporting demand in the Group’s growth markets: gas market transition, electrification and energy storage, operational technology cyber security, and industrial automation and machine learning. OUR STRATEGIC CONTEXT 14 VERBREC ANNUAL REPORT | 2026 KEY TRENDS SHAPING OUR MARKETS ENERGY SYSTEMS ARE BECOMING LARGER AND MORE COMPLEX • Renewable generation, storage, networks and flexible firming must be developed while existing energy infrastructure continues to operate safely and reliably. EXISTING ASSETS REQUIRE RENEWAL AND ADAPTATION • Ageing infrastructure, obsolescence and changing operating requirements are increasing demand for sustaining capital, asset-life extension and carefully managed upgrades within live operating environments. RESOURCES REMAIN ESSENTIAL TO INDUSTRIAL TRANSFORMATION • Traditional commodities continue to support economic and energy security, while demand for critical minerals is growing across clean energy, advanced manufacturing and Defence applications. Australia had 432 major resources and energy projects under development in 2025. WATER, CLIMATE AND ENERGY SYSTEMS ARE INCREASINGLY CONNECTED • Climate variability, population growth and new industrial demand are increasing the importance of reliable treatment, recycling, desalination, monitoring and water-efficient infrastructure. SOVEREIGN CAPABILITY AND RESILIENCE ARE STRATEGIC PRIORITIES • Australia’s Defence strategy is increasing investment in national preparedness, sovereign industry and the infrastructure needed to maintain operational readiness. AUTOMATION, DATA AND CYBER RESILIENCE ARE BECOMING OPERATIONAL PRIORITIES • Connected control systems, industrial data, AI and machine learning are changing how assets are operated and maintained. At the same time, critical-infrastructure owners must strengthen the security and recoverability of operational technology environments. STRENGTHENING OUR STRATEGIC DIRECTION These conditions align closely with Verbrec’s strategic direction. The Group operates across established and emerging markets, supporting clients that must maintain existing assets while investing in new infrastructure, technologies and operating models. Verbrec’s integrated delivery model spans engineering, automation, project delivery, operations and maintenance, and asset management. This enables the Group to support projects from early studies and design through implementation, operational readiness and long-term asset performance. The addition of Alliance Automation represents a significant expansion of this model. It strengthens Verbrec’s capability in industrial automation, electrical systems, control platforms, cyber security for operating assets, data and digital technologies, while broadening the Group’s geographic presence and exposure to mining, water, manufacturing, infrastructure and Defence. 15 | OVERVIEW  | CONTEXT & STRATEGY | DIRECTORS' REPORT  | REMUNERATION REPORT  | FINANCIAL STATEMENTS Capturing the Opportunity Verbrec’s relationship-client model, lifecycle capability and broader technical platform provide a foundation for growth across core and emerging markets. The Group can deepen its involvement with existing clients by connecting complementary services across project phases, while applying automation, cyber security, data and asset-performance capability across a wider range of sectors and geographies. MARKET TAILWINDS Australia’s energy security, energy transition and digital transformation trend creates a multi-decade engineering services opportunity. TECHNOLOGICAL OVERLAY Verbrec’s technology businesses (Alliance Automation & StacksOn) are not standalone product businesses. They create competitive differentiation across the group by enabling digital outcomes that pure-play engineering firms cannot deliver. Technology drives margin premium and provides pathways to recurring revenues. 16 VERBREC ANNUAL REPORT | 2026 ENERGY SECURITY & SOVEREIGNTY​ • Energy sovereignty priority for Australia​ • Beetaloo Basin development a high priority area for Verbrec • Gas pipeline investment as energy mix evolves • Engineering and EPC contracts for new gas infrastructure​. CLOUD, AI & DATA ANALYTICS​​ • Turns operational data our clients already own into decisions they can act on. • Recurring, higher-margin revenue that isn't tied to a capital cycle.​ • Alliance Automation's developing AI capability, applied across 700 people and a tier-one client base.​ • Positions Verbrec above the PLC layer. Advisory and analytics, not just integration. • Same clients, new spend. No new rel