Announcement PDF 20 25 Annual Report Locality Planning Energy Holdings Limited ABN 90 147 867 301 Bringing energy into the future Contents 04 Who we are 05 What we do 06 Performance Highlights 07 Chair’s Report 10 Chief Executive Officer’s Report 13 FY2026 and Beyond 14 Leadership Team 15 Directors’ Report 17 Remuneration Report (Audited) 26 Auditor’s Independence Declaration 27 Financial Statements 55 Consolidated Entity Disclosure Statement 56 Directors’ Declaration 57 Independent Auditor’s Report 64 Shareholder Information 67 Corporate Directory Who we are LPE (Locality Planning Energy Holdings Limited) is a leading energy provider, which supports local places and communities to implement tailored solutions that provide better outcomes, and the opportunity to participate within the energy market. Specialising in Embedded Network Management, LPE services customers and communities, both in the residential and commercial sectors with integrated electricity, hot water, solar and battery systems throughout Queensland and Northern New South Wales. Leveraging over 10 years’ experience, LPE is focussed on being a provider of choice, working with our customers to continuously deliver better local solutions now, and into the future. From concept through to delivery, LPE can manage every step from development, delivery and operations including the maintenance and capital responsibility, making it an attractive option for Communities, Owners, Body Corporates as well as Builders & Developers. Established in 2012 and listed on the ASX in 2016, LPE is well placed to deliver shareholder value through long term supply agreements that provide strong recurring revenue with plans to expand its solutions profile as well as its operational footprint into the future. OUR PURPOSE: Work with customers to deliver better local solutions OUR VISION: Be the provider of choice to deliver better local solutions 4 Locality Planning Energy Holdings Limited OUR VALUES: Integrity • Do the right thing • Deliver on our commitments • Build trust • Demonstrate mutual respect Teamwork • We are one-team • Maintain open communication • Have an open mindset • Seek opportunities to collaborate Service •P  rovide the best customer experience • Have empathy • Ask ‘what else can I do’ • Are outcomes-focused Performance • Strive for better practice •H  old ourselves and each other accountable •D  eliver results with positive outcomes • Embrace change Growth • Challenge constructively • Encourage • Are curious • Are always learning Annual Report 2025 What we do LPE is based on the Sunshine Coast in Queensland and services the Queensland and Northern New South Wales markets, focussing on the core Embedded Network business. LPE’s aim is to deliver the best local and sustainable energy solutions tailored to the specific needs of communities, townhouses, apartment complexes, and new developments. Our Customer Value Proposition continues to evolve as we work with partners, communities and customers to find new and better solutions to take us into the future, which includes: • Buying better: Seeking volume discounts through a progressive energy procurement plan. • Embedded Networks: Managing everything from meter reading to bill issuance. • Centralised Hot Water: Designing and installing hot water systems for Strata complexes. • Solar and Storage: Implementing behind-the-meter solar and battery solutions. Embedded Networks (EN) are private electricity networks that serve multiple premises, such as in apartment blocks, caravan parks and shopping precincts. • Electric vehicle (EV) Charging: Providing electric vehicle charging stations for apartments and new developments. In an EN, the electrical wiring is configured in such a way to allow the owner of the site to appoint an EN Manager such as LPE to on-sell energy to all the residents through their individual metering (often referred to as child meters). Embedded Networks have a role in providing customers with an option for energy affordability as well as enabling consumers to participate in Energy Markets. What is the benefit of an Embedded Network? LPE then seeks to bulk buy energy from an energy retailer and ‘on-sells’ the energy to the different consumers at a discount in comparison to individual customers buying direct from a retailer. The typical benefits of an Embedded Network include: • Reduced electricity prices for owners and tenants • Fully funded metering solutions • Greater control of site electrical infrastructure including tenant metering • Better energy monitoring and management • Billing utility services and debt control • Building owners can manage electricity supply across the property more efficiently • Owners and Managers can access aggregated data to improve sustainability reporting and reduce costs Annual Report 2025 Locality Planning Energy Holdings Limited 5 Performance Highlights are a Market Leader EDITOR_CHOICE We in Embedded Network Management in SEQ HOME GLOBE_LOCATION_PIN ELECTRICAL_SERVICES 25,410 368 30,933 Customers Communities (sites) Service Points Revenue of $42m is up 2.7% Core earnings increased by 32% from $1.02m to Second consecutive year of core earnings Group profit of ($3.49m) $1.35m $3.58m excluding non cash impairments Cash (including term deposits, excluding Government Cost of Living Rebates) of $4.45m up by statutory loss after income tax following a non-cash accounting impairment of $7.08m Capacity to pay existing debt facility from ordinary cashflow 28% 6 Locality Planning Energy Holdings Limited Annual Report 2025 Dear Shareholders, Chair’s Report Craig Chambers As incoming Chair, I am committed to unlocking LPE’s full potential and positioning the business at the forefront of Australia’s energy and property transformation. This was a pivotal year, marked by leadership renewal, operational uplift, and a deliberate shift toward long-term growth enablement. It was a year in which we strengthened our foundations, clarified our purpose, and reset expectations around performance and accountability. Governance Alignment During the year, the Board reaffirmed its strategic commitment to building a disciplined, values-led organisation by adopting a new Purpose, Vision and Values. These foundations now guide how we govern the business, set strategic priorities, and engage with our people, customers and partners. Our ambition is to establish LPE as a credible, performance-driven multiutility platform delivering integrated energy, property and community outcomes for customers. We consolidated LPE’s core operations by focusing on lifting customer retention, pursuing disciplined investment and prioritising sustainable growth. These efforts were carried out in parallel with the complex task of addressing a series of historical challenges that had constrained momentum. Annual Report 2025 Locality Planning Energy Holdings Limited 7 The Board has embraced the values and our governance and investment discipline framework, ensuring strategic consistency, regulatory compliance assurance, capital accountability, and transparency across the business. With much of that remediation behind us, the business is now well positioned to focus on executing its growth priorities. Growth Outlook We also began cautiously exploring adjacent service areas, including diversifying into Wi-Fi services and preparing to deploy community energy technology solutions. Progress in these areas has been measured and deliberate, ensuring that operational consistency remains the priority while responsibly laying the groundwork for longer-term diversification. Our strategic focus remains grounded in long-term value creation, while recognising the pace of change and maintaining focus on compliance in the energy sector. As the sector becomes more distributed, intelligent and customer-driven, LPE is steadily positioning itself as a reliable and responsive solutions provider in the evolving energy ecosystem. We have focused on building the foundations to grow with integrity and confidence. 8 Locality Planning Energy Holdings Limited Leadership Renewal Following the appointment of a new Chief Executive Officer, Scott Taylor, in July 2024, David Jarjoura transitioned from Executive Chair to a Non-Executive Director role, enabling a clearer delineation between executive and governance functions. In March 2025, the Board welcomed three new independent directors, strengthening LPE’s governance and skills diversity. These changes completed a broader renewal process and signalled a transition to delivering on operational and strategic performance. On 16 June, Sandra Pienaar joined as Chief Financial Officer, further strengthening our executive team. On 27 June 2025, David Jarjoura stepped down as Chair, continuing as a Non-Executive Director, and I was honoured to be appointed Chair of the Board. I would like to express my thanks to Simon Tilley and Stan Kolenc, who concluded their service on the Board during the year. Their contributions have been deeply valued as part of LPE’s journey through a challenging yet transformative period. Annual Report 2025 “With solid fundamentals and disciplined execution, LPE is well-positioned to serve as a trusted partner in the evolving energy and property landscape.” Operating Performance LPE’s operational performance reflects a year of disciplined resetting of LPE’s core fundamentals, with improvements in cost management, service consistency and cultural engagement. While the statutory results were impacted by the final resolution of several long-standing matters, the year demonstrated encouraging progress in core business performance and financial management. During the year, several significant matters were resolved. Notably, the Powershift litigation reached a satisfactory settlement. We also recognised accounting provisions for both the Bundaberg BioHub investment and other legacy legal matters. The statutory net loss of $3.49m was driven primarily by the non‑cash impairment of the Bundaberg BioHub financial asset. While these provisions reflect our accounting approach and have materially affected the statutory result, they do not alter LPE’s underlying performance or our intention to continue to pursue a favourable outcome for the organisation on these matters. The accounting adjustment also assists to clarify the business’s true underlying performance and support a sharper focus on strategic delivery. Underlying operations also improved across several dimensions: • The company met its financial guidance targets, demonstrating improved planning accuracy, and a greater alignment between internal performance settings and external expectations. • A substantial portion of high-cost debt was repaid through operating cash flow, highlighting improved financial discipline and enhanced balance sheet resilience. • Margin management and customer retention efforts began to show early signs of traction, with more consistent cost controls contributing to stronger month-on-month performance by year end. Operational improvements were supported by a new Operating Strategy & Plan, focused on energy procurement, service delivery, and business unit performance. These initiatives were critical in shifting LPE from a reactive posture to a more proactively accountable and credible platform. and reinvesting from its own earnings without relying on external capital. This milestone reflects the continued improvement in operational performance and the disciplined financial management instilled across the business. It also signals increased cultural and commercial maturity, positioning LPE to self-fund its growth agenda with confidence and discipline. With a strengthened balance sheet, the Board is now actively shaping a capital management strategy that will support strategic investment, balance risk, and align with shareholder expectations. As part of this approach, the Board undertook an on-market share buy-back in FY2025, returning surplus capital to shareholders in line with our disciplined capital framework. Looking Ahead With solid fundamentals and disciplined execution, LPE is well-positioned to serve as a trusted partner in the evolving energy and property landscape. The Board played an active role in guiding the development and endorsement of LPE’s strategic plan, ensuring alignment between ambition, execution capacity, and risk management. We are confident in LPE’s outlook, with firm foundations now established and a leadership team aligned to both drive performance and purpose. From my perspective within the energy sector, I see a unique opportunity for LPE to lead the energy transition by enabling smarter infrastructure, leveraging technology to reduce costs and emissions whilst unlocking consumer value through community-oriented solutions. On behalf of the Board, I thank our shareholders for your continued confidence, and our employees and partners for your commitment. I would particularly like to acknowledge David Jarjoura and the former Board members for navigating the business through a period of turnaround. Their stewardship has restored the foundation upon which LPE can now build. Craig Chambers This financial year marked the second year in which LPE operated with financial independence, managing Annual Report 2025 Locality Planning Energy Holdings Limited 9 Chief Executive Officer’s Report Scott Taylor Operationally we successfully met our FY2025 guidance, delivering a group profit of $3.58m (excluding non-cash impairment), and increasing our core earnings by 32% from $1.02m to $1.35m. FY2025 was a cornerstone year for LPE. While the statutory result reflected a net loss of $3.49m, driven primarily by the $7.08m impairment of the 2022 Bundaberg BioHub loan, our underlying business delivered its second consecutive year of core profitability. This outcome demonstrates the progress of our strategic reset which has strengthened our operating discipline, is improving customer outcomes, and will enable LPE to grow as a values-aligned, commercially disciplined multiutility business. Internally, we describe this evolution as the shift from LPE Version 1.0 to LPE Version 2.0, which is a deliberate step change in governance, commercial discipline and cultural alignment that commenced with the implementation of our revised Strategy and Business Plan in August 2024. These outcomes were underpinned by the adoption of the LPE Way, an enterprise approach to managing value creation and delivering better outcomes to all our stakeholders. 10 Locality Planning Energy Holdings Limited Annual Report 2025 Improving Business Productivity These results were achieved despite the enduring impact of historical practices that stem from LPE’s origins. Originally conceived as a disruptive retail business delivering novel energy solutions, LPE’s early strategies, motivations, and risk tolerances have evolved into industry norms that define today’s embedded network landscape and from what is now embedded in the LPE Way. While these traits catalysed initial growth, LPE’s practices were more akin to being an entrepreneurial start-up. We have now commenced the scale-up journey by adopting the preconditions for enduring operational stability, cultural alignment and improved stakeholder trust, all enabling better business performance and outcomes. The LPE Team has worked tirelessly to resolve a range of challenges including: • • • • Leadership renewal: Executive turnover and an unsolicited off-market takeover bid (Feb–Jul 2024) disrupted continuity and eroded organisational capability and capacity. A renewed Executive Leadership Team: complementing a refreshed Board has since stabilised governance, built internal cohesion, and an alignment for the continuous improvement of business performance. Service fragmentation: A history of inconsistent service delivery and performance disparities across sites necessitated a structured triage process. Remediation pathways were implemented, standardising service protocols and restoring customer trust. Litigation: Legal proceedings with Powershift Technologies Pty Ltd were resolved. Management continues to lead a turnaround of the business, centred on reaffirming purpose, embedding values, and strengthening people, processes, and systems. This renewal occurred in parallel with the continued delivery of our essential services, requiring the team to balance transformation with customer satisfaction and operational priorities. The resolution of these matters has gone a long way to embed a performance culture anchored in operational excellence, strategic discipline and prudent capital stewardship. These principles are now consistently applied across LPE’s leadership, governance practices and operations into a single process for creating and managing value known as the LPE Way. Annual Report 2025 “Management continues to lead a turnaround of the business, centred on reaffirming purpose, embedding values, and strengthening people, processes, and systems.” Operational Performance LPE delivered 5,711 new service points, representing 84% of the FY2025 target of 6,798 as follows: • Greenfield developments: 1,457 new service points • Brownfield acquisitions: 1,611 service points • Contract renewals: 2,643 service points Regrettably, LPE lost 15 sites and 1,430 service points due to historical service delivery issues. At the same time, it is with pride that I can confirm the following list of positive outcomes and highlights during the financial year: • Customer advocacy: The Net Promoter Score rose to 11.2, and targeted initiatives are under way to drive further improvement in FY2026. • Cultural alignment: Staff wholeheartedly adopted the LPE values and the LPE Way, fostering continuous improvement and strengthening service delivery. • Renewal and realignment of the LPE team and business towards profitable growth. • Buying better: The first tranche of our progressive energy procurement strategy went live, laying the groundwork for more competitive pricing and margin certainty in FY2026. • Profitability: Core earnings increased 32% from $1.02m in FY2024 to $1.35m in FY2025. • Operational resilience: Coordinated engagement with stakeholders ensured minimal disruption during Tropical Cyclone Alfred. • Financial independence: Disciplined cash management restored balance sheet flexibility. • Repayment of the debt facility, providing two years of positive trading as the basis for a fresh capital strategy and banking facility to enable growth. • Safe pair of hands: Managing all the competing priorities, and unforeseen disruptions like Cyclone Alfred, to deliver our guidance. Locality Planning Energy Holdings Limited 11 Summary LPE continues to operate where the energy market meets the property market, for the benefit of communities and customers. LPE is proud to be a leader within the Australian Embedded Network Market. We are alert to the challenges of a competitive and consolidating market, constantly seeking and testing opportunities to ensure LPE sustainably delivers continuous growth and prosperity for all our stakeholders. Our ambition is to rise above the pack, continuously improving our solution development and service delivery capability to build a competitive advantage and reputation for excellent community outcomes and customer service. At its core, LPE is a business built around people and placemaking, serving communities by delivering dependable, future-looking energy solutions that improve everyday lives. This year has tested all our people, and I want to take this opportunity to recognise everyone for their perseverance, focus and belief in our shared purpose and vision. 12 Locality Planning Energy Holdings Limited I would especially like to say “Thank You” for the support and trust to date for the above results which reflect positively on the whole LPE team. These results and our potential for growth would not be possible without the support of our people, Board, clients and customers. FY2025 marked a true turnaround year however the transformation journey continues into FY2026, where we will build on this progress and continue to shape the future of embedded energy. I am proud of our achievements this year and look forward with optimism to an even brighter future ahead. With a refreshed leadership team, and a future-focused strategy in place, LPE is well positioned to grow our business to become a true industry leader. Scott Taylor Annual Report 2025 FY2026 and Beyond FY2026 represents the next critical phase in LPE’s transformation as we aim to accelerate growth with the following priorities: • Customer Advocacy which includes looking after developers, body corporates, strata managers and customers to ensure consumer protections and better outcomes • Greenfield Focus: working with Developers to make longer term infrastructure investments within greenfield sites to bring energy solutions into the future • Decarbonisation and Electrification: to meet the needs of an increase in urban densification with solutions that include solar, electric vehicle charging and batteries • Multi-utility Diversification: Moving beyond energy with our plans to launch LPE Broadband, providing customers with access to high-speed internet plans • Service Excellence: by looking after our existing clients and customers, ensuring we provide a seamless experience earning high retention and renewal rates. • Improving Productivity and our operating margins with a focus on service excellence, productivity improvements and the progressive procurement of our energy needs • Profitably growing the business through increasing our focus on developing better infrastructure solutions for developers within the new build space • Competitive Positioning: working with industry to ensure both the embedded network market and LPE retain a strong position with the regulatory and commercial frameworks • Updating the Capital Management Strategy to leverage the improved financial profile and earnings, to enable organic and strategic growth beyond our current footprint • Continued Investment in Capabilities to become a highly scalable business to enable growth, which includes a relocation to a new office to deliver a 25%+ annual cost saving Annual Report 2025 Growing Addressable Market Over the next 25 years, the Southeast Queensland’s (SEQ) population is expected to grow by 2.2 million people to almost six million people. This translates to a required supply of around 900,000 new homes, or roughly 34,500 dwellings per year (Source: Shaping SEQ2023) and this shift toward greater density via strata-style housing is expected to underpin much of LPE ’s future growth. The next 25 years of growth for SEQ will be different to the past 25 years of growth, presenting complex challenges and opportunities of a complexity beyond those faced by the region to date. As urban densification accelerates, demographic shifts are becoming more pronounced, with single-person and couple-only households expected to comprise nearly 40% of all households by 2046. LPE is well positioned to meet the evolving needs of these increasingly diverse and compact urban communities, delivering tailored benefits and enhanced value in the context of a rapidly changing housing landscape. Australia’s future energy demand is also expected to grow, driven by factors like population and economic expansion, as well as the increasing adoption of electric vehicles and data centres. By 2030, the Australian Energy Market Operator (AEMO) predicts that rooftop solar capacity is expected to double, and storage capacity is also set to increase by a factor of six. While rooftop solar and energy efficiency measures may initially offset some growth, Retail electricity consumption is anticipated to rise substantially alongside electrification trends over the next decade. (Sources: AEMO and CSIRO). Sustained population growth, densifying urban form, decentralised energy acceleration, and supportive planning settings combine to expand LPE’s addressable market and strengthen the commercial rationale for embedded infrastructure networks. Locality Planning Energy Holdings Limited 13 Leadership team With shared Vision, Purpose and Values, LPE’s leadership team has complimentary strengths and capabilities to cohesively focus on creating, growing and harvesting value Scott Taylor Chief Executive Officer Scott has over 30 years’ experience in energy, property, and technology management, with a key focus on the development and implementation of innovative businesses that disrupt the traditional approaches to have a positive impact on people, places and profits. Scott brings commercial experience including several overseas roles in the UK and US, and his proven track record of leading start-ups through the scale-up phase in new and emerging markets. Scott’s experience in embedded networks and property development bring significant value to LPE. His sector knowledge and strategic leadership also enable LPE growth ambitions and add value for LPE’s customers. Sandra Pienaar Alan Daly Chief Financial Officer Chief Commercial Officer Sandra Pienaar is an accomplished finance executive and Chartered Accountant, with a distinguished career spanning over 30 years across multinational corporations and private equity-backed enterprises. Her professional experience encompasses a diverse range of industries throughout Australia, New Zealand, and South Africa. Alan has over 30 years’ experience across a portfolio of industries including energy, property, manufacturing, hospitality and advertising. This includes working in the wholesale and renewable sectors of the electricity market as well as embedded networks. She brings a robust blend of financial expertise, governance proficiency, and strategic leadership to her role. Sandra has a proven track record of delivering measurable outcomes, including successful project finance transactions, complex business integrations, cross-border operational management, and the development of high-performing finance teams that drive scalable and efficient performance. 14 Locality Planning Energy Holdings Limited Alan has worked in senior finance and general management functions for a number of start up to scale up businesses and brings a strong commercial focus to increase revenue, reduce cost, manage risk and facilitate good corporate governance. Alan joined LPE on 18 November 2024 and his skills, knowledge and experience will enable a commercial focus on operational excellence and service delivery through the key areas of operations, customer care and billing. Annual Report 2025 Directors’ Report Your directors submit the financial report of the consolidated entity (referred to hereafter as the Group or Consolidated Entity) consisting of Locality planning Energy Holdings Limited (referred to hereafter as the Company or LPE) and the entities controlled at the end of and during the year to 30 June 2025. Directors and Company Secretary The names of directors who held office during the year and up to the date of this report are: Craig Chambers Andrew Vlachos Chair Non-Executive Director Mr. Chambers brings 30 years of leadership experience in the energy and infrastructure sectors, with a track record in project delivery, market reform, and the energy transition. He is currently the Energy Market & Clients Director at Mott MacDonald, where he leads a team of professionals delivering energy transition, decarbonisation, and infrastructure solutions across Australia. Mr. Chambers is also an Independent Advisory Panel member tasked with evaluating funding requests from the Australian Renewable Energy Agency (ARENA). Previously, he has held executive and board roles at Energy Queensland, Ergon, Energex, and Yurika. His deep expertise is in energy industry focusing on growth, technology innovation, regulatory reforms and navigating the energy transition will be invaluable in guiding LPE’s strategic direction as it continues to drive innovation and growth in the Australian energy market Mr. Vlachos has many years of experience in major Australian and international public companies, in a wide variety of roles, including General Counsel, General Management, Non-Executive Directorships, Company Secretary, Human Resources and Employment Law. He is the principal of an independent incorporated legal practice firm that advises business in a wide range of areas. Mr. Vlachos was the General Counsel and Company Secretary for Coates Hire, Australia’s largest equipment hire company. Nicole Noye Non-Executive Director Ms. Noye is an experienced Chief Executive Officer and Non-Executive Director with over 25 years of experience at the C-suite and Board level. She has worked across multiple industries, including retail, hospitality, leisure, entertainment, fitness, professional services, car-sharing, franchising, and executive coaching. She is recognised for expertise in business transformation and operational excellence with a proven track record in re-imaging businesses to enhance profitability and stakeholder value. Ms. Noye’s Board experience includes serving as a Non-Executive Director and committee member for Crown Sydney, Non-Executive Director of Fernwood, NonExecutive Director for GoGet, and Board and committee member for Collective Wellness Group. She was the Chair of the Compono Executive Leadership program and a Board member for several industry associations. Annual Report 2025 David Jarjoura Non-Executive Director David has over 30 years of executive and non-executive board level experience in unlisted public, commercial and for purpose organisations across the retail, property, manufacturing, financial, legal, education and disability sectors. Elissa Hansen Company Secretary Elissa has over 20 y