Advanced Braking Technology Limited Annual Report 2025

FY2025 Annual Report · Advanced Braking Technology Limited

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Name of Entity:
Advanced Braking Technology Ltd
ABN:
66 099 107 623
Reporting period:
Year ended 30 June 2025
Previous corresponding period:
Year ended 30 June 2024
Results for announcement to the market
30-Jun-25
30-Jun-24
$A’000
$A’000
Revenue from ordinary activities
Up
25.15%
19,131
15,287
Profit / (Loss) from ordinary activities after income tax
attributable to members
Up
36.26%
1,780
1,306
Net Profit / (loss) for the period attributable to members
Up
36.26%
1,780
1,306
Dividends
30-Jun-25
30-Jun-24
Net tangible assets
cents
cents
Net tangible assets per share (cents)
2.33
1.83
Appendix 4E
Full Year report
There is no proposal to pay dividents as at 30 June 2025.
This report is based on accounts which have been audited.
The commentary on the results for the period is contained in the release accompanying this statement.

ANNUAL REPORT 2025
VEHICLE SAFETY INNOVATION
ABN 66 099 107 623

ABT Annual Report 2025
2 | ©2025 Advanced Braking Technology Ltd. All rights reserved.

CONTENTS
Table of Contents
03
Operating and Financial Report
11
Corporate Directory
04
Directors’ Report
18
Chair’s Report
06
Auditor’s Independence
Declaration
33
Chief Executive Officer’s Report
08
34
3
Notes to Financial Statements
Consolidated Entity
Disclosure Statement
39
Directors’ Declaration
Independent Auditor’s Report
Shareholder Information
71
72
73
77
Annual Financial Statements

CORPORATE DIRECTORY
Directors
Dagmar Parsons
David Slack
Les Guthrie
Company Secretary
Mark Pitts
Registered Office
73 Inspiration Drive
Wangara, WA 6065
Telephone: + 61 8 9302 1922
Telephone: 1800 317 543
Auditors
BDO Audit Pty Ltd
Level 9
Mia Yellagonga Tower 2
5 Spring Street
Perth, WA 6000
Country of Incorporation
Australia
Legal form of entity
Listed public company
Bankers
National Australia Bank Ltd
12 / 100 St Georges Terrace
Perth, WA 6000
Share Registry
Computershare Investor Services Pty Ltd
Level 11, 172 St Georges Terrace
Perth, WA 6000
Telephone: + 61 8 9323 2000
Facsimile: + 61 8 9323 2033
ASX Home Branch
Australian Securities Exchange (ASX)
Level 40, Central Park
152-158 St George’s Terrace
Perth, WA 6000
ASX Code
ABV – Ordinary shares
Chief Executive Officer
Andrew Booth
Chief Financial Officer
Angela Godbeer
ABT Annual Report 2025
4 | ©2025 Advanced Braking Technology Ltd. All rights reserved.

ABT Annual Report 2025
6 | ©2025 Advanced Braking Technology Ltd. All rights reserved.
Chair’s Report

Dear Valued Shareholders,
It is with pleasure and pride that I present the Annual Report
for Advanced Braking Technology Ltd (ASX: ABV) for the fiscal
year 2025. This has been a period of significant achievement
and strategic advancement for ABT, built on the strong
leadership and the unwavering dedication of our entire team.
As Chair, I have observed with great satisfaction the robust
growth across all facets of our business, from impressive
financial outcomes to ground-breaking product innovation
and the global expansion of our market reach.
FY25 demonstrates the strength and resilience of our
business model through solid financial performance and
strategic execution.
In FY25, a core strategic objective was to strengthen ABT’s
internal foundations to support our ambitious growth and
scaling. I’m incredibly proud of how our teams have delivered
on this. We successfully attracted top talent from both the
mining and advanced manufacturing sectors, enriching
our collective expertise. We also invested in building a
robust Learning and Development platform and our ABT
Performance Management Framework continued to enhance
our team’s motivation, engagement and overall capability.
Our
commitment
to
operational
excellence
was
further validated by gaining and maintaining a range
of ISO accreditations, demonstrating our adherence to
internationally recognised standards for quality, risk and
environmental management.
We invested in a focused project management framework,
bringing together cross-functional teams to drive efficient
project delivery. We also implemented a strategic supplier
engagement approach, leveraging our growing scale to
optimise relationships with key suppliers and establish a
resilient supply chain that directly supports our growth
roadmap.
We refined our account planning based on strategic and
tactical engagement strategies to maximize our relationships
with blue-chip customers globally.
These foundational improvements are vital enablers for ABT’s
continued expansion.
PEOPLE, CULTURE AND SAFETY
BUILDING OUR FOUNDATIONS FOR
SCALABLE GROWTH
KEY ACHIEVEMENTS AND MILESTONES
FY25 reflects a business in a period of robust growth
underpinned by product sales revenue increases
in every quarter of FY25, demonstrating sustained
demand and effective business development.
Strong Financial Results
The BRAKEiQ Launch and the launch of the
Failsafe Sealed Integrated Brake System (SIBS) for
the popular Toyota Hilux light vehicle expanded
our product portfolio and revenue potential.
Pioneering Product Launches
International revenue saw a 47% increase driven
by successful strategic market activation in regions
including Canada, Indonesia and Mongolia.
Substantial Export Growth
We successfully expanded our reach into new
export markets and exhibited for the first time
at MineExpo in September of 2024 in Las Vegas,
highlighting the global demand for our advanced
mine safety technology.
Sustained improvements in productivity and astute
tactical business development led to increased
operating leverage and a higher return on invested
equity (ROE), demonstrating our commitment to
delivering sustainable growth.
Expanded Global Footprint
Operational Efficiencies
CHAIR’S REPORT
At ABT, we firmly believe our people are our greatest asset
and the true engine of our success.
In FY25, we intensified our commitment to cultivating
a supportive environment where every team member
feels valued, respected, and empowered. By strategically
investing in professional development and fostering work-
life balance, we’ve actively built a culture of growth, safety
and collaboration that benefits both our individuals and the
collective strength of ABT. This vibrant organisational culture
is directly impacting our relationships with customers,
partners, and all our stakeholders, driving our business
forward.

7
Chair’s Report
7
ABT Annual Report 2025
DRIVING STRATEGY:
FROM VISION TO ACTION
FUTURE OUTLOOK AND APPRECIATION
Dagmar Parsons
Chair, Advanced Braking Technology Ltd.
Our team has made significant progress in executing our
strategic roadmap. We’ve built strong sales growth momentum,
strengthening our relationships with blue-chip customers and
driving both current sales and future strategic opportunities,
particularly evident with the growing interest in our BRAKEiQ
autonomous braking system.
Furthermore, ABT has significantly deepened its strategic
engagement and presence in both Mongolia and Indonesia.
This involved active market activation, where we initiated
and expanded operations and sales efforts within these
key regions. We focused on robust customer engagement,
building and strengthening relationships with blue-chip
customers, which led to increased sales and trial opportunities,
notably with Rio Tinto in Mongolia and PT Jasana/Freeport in
Indonesia. This has also resulted in expanding the installed
base of ABT products, particularly SIBS, in these vital markets.
Our Engineering team, in support of this strategic expansion,
achieved key milestones, including the development and
validation of ABT’s first driveline brake for a JCB Telehandler.
Innovation which further strengthens our product portfolio; by
applying our brake solutions into a broader range of vehicle
applications, such as auxiliary equipment in mining.
The global mining industry is undergoing a profound
transformation, with the increasing emergence of safety
technology becoming a paramount operating standard.
This shift, driven by regulatory mandates and a universal
commitment to reducing incidents, presents a significant and
growing market for ABT’s advanced solutions.
The Board remains highly confident in ABT’s future trajectory.
We will continue to prioritise innovation as a key driver for future
growth, anticipating broader applicability of our technologies
to a wider array of vehicles, thereby creating new revenue
opportunities and expanding our installed base.
During the fiscal year Mr Adam Levine, a long-standing Non-
Executive Director of the Company, formally resigned from the
Board. The Board acknowledges and thanks Mr Levine for his
dedicated service and significant contribution to the Company
over the past 12 years.
On behalf of the Board of Directors, I extend my gratitude to our
Chief Executive Officer, Andrew Booth and his dedicated team
for their dedication and relentless diligence. Their strategic
vision and operational excellence have been instrumental in
achieving these outstanding results.
To our loyal customers, strategic partners and especially to
you, our shareholders, thank you for your continued trust,
support, and belief in the ABT Vision.

ABT Annual Report 2025
8 | ©2025 Advanced Braking Technology Ltd. All rights reserved.
Investment in Innovation & Future Value: The rise
in R&D tax receivables is a direct consequence of our
increased investment in self-funded research and
development. Securing Strategic Partnerships: The
increase in prepayments is primarily due to the exclusive
global distribution agreement entered into in October
2024. Collectively, these drivers of net asset growth
demonstrate ABT’s prudent financial management,
strategic investment in key growth enablers, and
a proactive approach to supporting both current
Chief Executive Officer’s Report
CHIEF EXECUTIVE
OFFICER’S REPORT
Dear Valued Shareholders,
I am delighted to present the Annual Report for Advanced
Braking Technology Ltd (ASX: ABV) for the fiscal year 2025.
It is with great pride that I reflect on a year of remarkable
progress, which has seen ABT demonstrate robust growth,
significant advancements in product innovation, and an
expanded global market presence.
Our strategic focus on providing safety-critical braking
solutions for the global mining industry has not only solidified
our position as a leading Original Equipment Manufacturer
(OEM) but has also delivered substantial value to you, our
shareholders, and our global customer base.
.
A YEAR OF OUTSTANDING
FINANCIAL PERFORMANCE:
The financial results for FY25 reflect a business in a period of
robust growth
Total Product Sales Revenue reached a strong $18.7
million, representing a 27% increase on the prior
comparable period. This consistent upward trajectory is
a testament to the increasing market demand for ABT’s
solutions
Net Profit After Tax (NPAT) is $1.78 million for the full
year, a 36.26% increase on the prior comparable period.
Underlying NPAT (excluding R&D tax income rebate)
reached $1.05 million, a substantial 87% increase
on the prior comparable period. This highlights the
immense improvement in the Company’s core operating
profitability, driven by rigorous cost control, management
of Cost of Goods Sold, and the ability to maintain strong
gross margins across our diverse product portfolio.
Our Cash and Cash Equivalents strengthened to $2.88
million, an increase of 19.4%.. This robust cash position is
a highly positive indicator of ABT’s financial health and
strategic agility. It provides us with the necessary liquidity
to fund future growth opportunities, continue investing
in innovation (such as BrakeiQ and R&D), and maintain
operational resilience against unexpected market
fluctuations. This strong cash balance underscores our
disciplined financial management and positions us well
to execute our ambitious FY26 strategic plan.
27% increase in net assets to $10,726 million as at
30 June 2025 is a highly positive indicator of ABT’s
strategic growth and financial health. Strategic Inventory
Management for Growth: Higher inventory levels directly
reflect our proactive approach to supporting open
customer orders and maintaining essential safety stock
in line with rising sales.
Throughout FY25, we made significant progress in
strengthening our foundational capabilities to support
continuous scaling.
Vehicle Application Diversification
We successfully diversified vehicle applications for our ABT
SIBS range, deepening our engagement with our blue-chip
customer base. This includes delivering innovative solutions
for both light and heavy vehicles.
Best Practice Aftersales and Technical Support
Our unwavering commitment to aftersales and technical
support has been pivotal in maintaining ABT’s strong brand
reputation and fostering long-term customer relationships.
Mine Safety Technology Innovation
We formally launched BRAKEiQ, a cutting-edge autonomous
braking system and have made significant progress
in developing the integration of autonomous collision
prevention capability for light vehicles into our SIBS Failsafe
product range. These innovations are key to future-proofing
ABT and aligning with the industry’s focus on advanced mine
safety technology.
Continuous Improvement and Culture
We reinforced our “OneTeam” culture ensuring our
strategic roadmap for FY26 is robust, well-understood and
collaboratively owned.
Our Strategic Roadmap outlines a 5-year plan for growth,
leveraging our core failsafe product IP and capitalising on
our perpetual R&D investment through commercialised
innovation. Strengthening ABT’s foundations to support
continuous growth and scale is a key strategic charter for my
team.
We prioritise investment in the training and development
of our people, ensuring our workforce grows in alignment
with ABT’s business needs. This commitment enables us to
attract and benefit from new talent endowed with essential
knowledge and industry experience.
STRATEGIC EXECUTION AND
OPERATIONAL EXCELLENCE:
BUILDING FOUNDATIONS FOR
SUSTAINABLE GROWTH:

9
LOOKING AHEAD:
We continue to operate within a highly attractive market
landscape. The underground mining sector, a key focus for
ABT, is experiencing a strong Compound Annual Growth
Rate (CAGR) globally, driven by increasing demand for
critical minerals and the imperative for enhanced safety
and automation in deeper, more complex operations. This
robust market growth provides a significant tailwind for ABT’s
strategic expansion.
Looking ahead to FY26, we remain steadfast in our
commitment to prioritising innovation as a key driver for future
growth. The unprecedented FY25 H2 revenue pipeline for
our SIBS product internationally, coupled with the continued
market development of BRAKEiQ, strategically positions ABT
to achieve sustained growth and further market leadership
in global mining safety technology. The strategic synergy
between our failsafe braking technology and the emergence
of autonomous mining operations is an exciting prospect.
ABT’s solutions provide the critical, reliable stopping power
essential for the safe and effective deployment of autonomous
safety.
I wish to acknowledge and extend my thanks to the ABT
team for their perseverance and unwavering dedication in
advancing our strategic roadmap. We are immensely proud of
what has been accomplished and look forward to leveraging
this momentum as we execute our FY26 strategic plan,
continuing our journey of sustainable growth and innovation.
To our loyal customers and strategic partners, thank you
for your invaluable support and collaboration. And our
shareholders; your ongoing trust, support and shared belief
in the ABT Vision is fundamental to our success.
We look forward to another year of progress and value
creation. Thank you.
ABT Annual Report 2025
Andrew Booth
CEO, Advanced Braking Technology Ltd.
Our ABT culture remains a strong and positive force and we
champion the combination of a robust culture, with strong
operating systems; creating a powerful foundation for scale.
Further the focus on continuous improvement in our systems
and workflows is central to enabling the level of scale we are
targeting.
As an OEM of advanced manufactured products, we rely
on strategic supplier relationships both locally and offshore
for specialised componentry. As we scale, ABT is actively
strengthening partnerships with existing and new suppliers
to ensure ample production capacity, meeting the demands
of the growing industrial safety market.

Operating and Financial Report
ABT Annual Report 2025
ABT’S 2029 STRATEGIC HORIZON
ABT’s 2029 strategic horizon model illustrates the
themes over a medium-term 5 year time band. FY25
continues progression in deepening our market
share across a global customer base parallel to
strengthening our foundations to support growth.
ABT strategic focus and investment in industrial
safety
technology
remains
a
key
development
target. The combination of these horizons will
support ABT’s continued journey of growth and scale.
ABT will continue to allocate resources towards the
creation and enhancement of new technologies,
products and processes through Research and
Development (R&D). Investment in R&D is important for
the Company to remain competitive, foster innovation
and drive long term growth.
Industry Outlook
The global underground mining sector continues to show a positive outlook, driven by rising demand for key min-
erals crucial for the energy transition and infrastructure development. With accessible surface deposits becoming
scarcer, companies are increasingly relying on underground methods to extract deeper ore bodies. This trend is bol-
stered by significant technological advancements, including automation, robotics, and AI, which are making opera-
tions safer, more efficient, and more productive. While the industry faces challenges, a strong focus on sustainability
and compliance with environmental and safety regulations is further spurring innovation and growth, with regions
like Asia-Pacific and North America expected to lead the market expansion over the next decade.

11
Operating and Financial Report
ABT Annual Report 2025
11 | ©2025 Advanced Braking Technology Ltd. All rights reserved.

BUSINESS OVERVIEW
Advanced Braking Technology Ltd (‘ABT’ or the ‘Company’)
is an Australian company listed on the Australian Securities
Exchange (ASX:ABV) that designs, manufactures and
distributes its innovative braking solutions worldwide. From
its head office in Perth, Western Australia, ABT continues to
develop its product portfolio for a diverse range of industries
that have a strong requirement for safety and environmental
responsibility, including the mining, defense, civil construction
and waste management industries.
ABT’s innovative braking solutions are well known for their
unparalleled safety, improved productivity, zero emissions
and durability in the world’s harshest conditions. As the
Company’s reputation has grown, demand for ABT’s brakes
has expanded internationally with its braking solutions
being used in all seven continents across the globe.
Approximately 45% of revenue from continuing operations
comes from overseas locations including Canada, Europe,
Asia-Pacific, South Africa and Chile in which ABT has key
distribution partners.
ABT maintains three key strategic supplier relationships,
all based in Australia, which collectively account for
approximately 60% of the Company’s supply chain inputs.
This predominantly Australian supply chain has supported
ABT’s operational resilience, enabling sustained sales growth
and strong financial performance throughout the year.
During FY25, ABT offered the following key products:
BrakeSAFE Wheel End SIBS Brakes - Sealed wet brakes with
Spring Applied Hydraulic Release (SAHR) mechanism and
optional interlocks, this integrated Park and Service Brake
system eliminates the risk of unintended vehicle movement
ensuring unparalleled safety for operators and site personnel.
BrakeSAFE Driveline SIBS Brakes - ABT Driveline Brakes act
as a supplementary system for critical situations. In case of
service brake failure, these brakes provide rapid intervention,
preventing unintended vehicle movements and going
beyond the standard OEM supplied park braking systems.
BRAKEiQ - a cutting-edge auto braking system designed
to integrate with Collision Avoidance Systems (CAS). ABT
has exclusive global distribution rights to distribute, market,
promote and sell BRAKEiQ.
BrakeiQ is designed with consideration to ISO 21815-2
standards and EMESRT Level 9 intervention. Its versatile
design allows application across various machine types,
supporting compatibility with more than 30 Caterpillar wheel
loader and dozer models as well as Komatsu models.
During FY25, the Company continued to deliver on our
strategic roadmap.
These included:
•
Continued international expansion of our SIBS install
base.
•
Double digit % Growth in Revenue.
•
Record ‘trail’ revenue in Spare Parts and Consumables.
•
Vehicle Application Diversification.
•
Best Practice After sales and Technical Support.
•
Formally launched BRAKEiQ, a cutting-edge automatic
braking system
OPERATING AND
FINANCIAL REPORT
Financial Summary
The Company reported financial results for the year
ended 30 June 2025, with revenue from continuing
operations of $19.13m (FY24: $15.29m), which
represents a 21% increase on the prior year. The
net profit for the year of $1.78m (FY24: $1.30m).
Despite higher revenue than the previous year, net
profit was maintained at a similar level, indicating
effective cost management. This outcome was
primarily driven by two factors: a shift in product
mix resulting in lower average margins, and a higher
proportion of international sales, which attract
distributor discounts. While revenue growth reflects
increased demand and expanding market reach, the
margin impact of these sales dynamics offset the
profit contribution from top-line growth.
The Company reports a balance sheet with cash and
receivables of $5.93m (FY24: $5.40m). Net assets
as at 30 June 2025 have increased 27.6% from
FY24 to $10.73m. The increase in net assets was
primarily driven by higher inventory levels, R&D tax
incentives, and
prepayments.
Inventory
was
increased to support open customer orders and
maintain safety stock in line with rising sales.
Increased investment in
self-funded
research
and development led to a corresponding rise
in R&D tax receivables. Prepayments also rose
due to the exclusive global distribution agreement
entered into in October 2024.
Cash balance of $2.88m, is up from the $2.40m
at 30 June 2024. Trade and other payables
$2.28m (FY24: $1.95m). Trade receivables remains at
$3.00m (FY24: $3.00m).

12 | ©2025 Advanced Braking Technology Ltd. All rights reserved.
Operating and Financial Report
ABT Annual Report 2025
Revenue from continuing operations in FY25 of $19.13m
(FY24: $15.29m) was achieved primarily from sales of the
Company’s core BrakeSAFE Wheelends and BrakeSAFE
Driveline products and associated spares and consumables
predominately in the mining industry.
The gross margin for revenue from continuing operations for
FY25 is 48.1% (FY24: 51.4%). While revenue increased during
the year, overall margins declined due to a product mix
and a higher proportion of international sales, which attract
distributor discounts.
The estimated research and development (R&D) tax incentive
refundable offset for the year of $726k (FY24: $947k) as the
Company continues to invest in self-funded new product
development which will deliver revenue diversification and
scale opportunities.
Revenue
Expenses for FY25 totaled $18.10m (FY24: $14.80m)
representing a 22% increase on prior year. The increase
in expenses is consistent with the Company’s strategic
objectives to support step-change growth and reflects
deliberate investment in building organisational capability
— including key systems upgrades, attracting and retaining
talent, and expanding our international footprint
Expenses
The cash balance increased to $2.88m (FY24: $2.40m),
supported by higher revenue, with the Company reporting
positive operating cash flow of $0.10 million (FY24: \$0.30
million). To minimise potential delivery disruptions, the
Company has proactively invested in inventory by purchasing
stock in advance and maintaining higher levels than
previously required. With a strong sales pipeline in place,
this approach supports order fulfillment and underpins
operational resilience. As the Company strengthens its
operations, effective supply chain risk management has
become increasingly critical—representing a prudent and
necessary investment to secure future revenue opportunities.
Cash

13
ABT continues to focus on the ongoing execution of its
strategic roadmap with sustained financial and operational
performance during FY26.
The growth strategy will be implemented as follows:
•
Drive organic growth through targeted sales and
marketing initiatives focused on ABT’s international
customer base
•
Accelerate product innovation aligned with
technological advancements and interoperability
•
Advance SIBS product development to enable
application across a broader range of vehicles
•
Expand and strengthen the supply chain to support
scalable, step-change growth
•
Maintain a continuous improvement mindset to
enhance customer experience, product quality, and cost
efficiency
•
Pursue inorganic growth by executing our strategy
for Joint Ventures, Partnerships, and Acquisitions,
with innovation positioned as a central pillar for future
expansion
Diversification is a key strategic theme in FY26 through
the following:
•
Our product offering;
•
Our customer base;
•
The geographic locations in which our products are
found; and
•
Our network of partners: Suppliers, Installation and
Service Providers, and International Distributors.
Strategy implementation and product development
Operating and Financial Report
ABT Annual Report 2025
Driven by our core Sealed Integrated Brake System (SIBS)
technology, our established product line, and ongoing
investment in research and development, we are well-
positioned to boost sales in the 2026 fiscal year. We plan
to expand into new geographic markets and reach a wider
range of customers. Our strategy for product diversification is
informed by a deep understanding of customer needs in fleet
and asset management, ensuring a disciplined approach to
achieve targeted returns on investment.
Our brake safety systems are a natural partner to collision
avoidance technology in the mining industry. With an
increasing global focus on reducing injuries and fatalities
from vehicle interactions, the demand for integrated safety
solutions is growing. Industry data from EMESRT indicates
that 30–40% of annual mining fatalities are due to failures in
vehicle interaction controls, with nearly half of these incidents
involving pedestrians. By combining Level 9 Collision
Avoidance Systems, which can actively intervene and override
driver actions, with failsafe braking, we offer a powerful and
complementary safety solution that actively helps prevent
accidents and saves lives. This strategic innovation in the
Collision Avoidance Systems (CAS) space positions us for
significant growth as a trusted safety OEM brand within the
global mining sector
13

ABT Annual Report 2025
14| ©2025 Advanced Braking Technology Ltd. All rights reserved.
Operating and Financial Report
MARKET GROWTH AND DRIVERS
Growing Demand for Minerals
The primary driver is the increasing global demand for
essential minerals and metals. This is fueled by the transition
to renewable energy sources, the proliferation of electric
vehicles (EVs), and ongoing urbanization and infrastructure
development, particularly in emerging economies. Minerals
like copper, nickel, lithium, and other rare earth elements are
crucial for these technologies.
Depletion of Surface Resources
As readily accessible surface deposits are depleted, mining
companies are increasingly turning to underground methods
to extract deeper ore bodies. This trend is a major factor in the
continued expansion of the underground mining sector.
Technological Advancements
The industry is being transformed by technology. Innovations
in automation, robotics, AI, and remote-controlled equipment
are making underground mining safer, more efficient, and
more productive. This helps address high operational risks,
safety challenges, and labor costs.
Environmental and Safety Regulations
Stricter environmental regulations and a strong focus
on worker safety are pushing companies to adopt more
sustainable and advanced underground mining practices.
Electric-powered equipment, improved ventilation systems,
and real-time monitoring are becoming standard, which in
turn drives demand for new and specialized machinery.
Source:
•
International Energy Agency (IEA), “Critical Minerals – Topics.”
•
Farmonaut, “AI Mining Automation: 5 Automated Mining Workflow Solutions.”
•
MSHA Safety Services, “The Environmental Impacts of Underground Mining: A Closer Look.”
KEY TRENDS AND OUTLOOK
Positive Growth Projections
The global underground mining market is projected to see
steady growth over the next decade. Some reports forecast a
compound annual growth rate (CAGR) of around 4-6% for the
underground mining equipment market from 2025 to 2030,
with the market size potentially reaching over $47 billion by
2032.
Regional Leadership
The Asia-Pacific region is expected to remain the dominant
market, with countries like China, Australia, and India leading
the growth due to rapid industrialization and high demand
for minerals. North America is also projected to be a fast-
growing region.
Focus on Automation and “Zero-Entry” Mines
The concept of the “zero-entry” mine, where no humans
are required to be underground, is a long-term goal for the
industry. Automation and remote operations are already
reducing the number of workers in hazardous areas, and this
trend is expected to accelerate.
Sustainability and ESG
(Environmental, Social, and Governance)
Companies are increasingly focusing on sustainable and
eco-friendly mining practices to reduce their environmental
impact and meet stakeholder expectations. This includes
using electric machinery, optimizing energy consumption,
and improving waste management.
•
Grand View Research, “Asia Pacific Underground Mining Equipment Market Size & Outlook.”
•
Torsa Global, “EMESRT Level 9 - Intervention Control for Collision Avoidance Systems.”
•
Detail Media, “Mining and ESG: Striking a Balance between Resource Extraction and Sustainability.”

15
Operating and Financial Report
ABT STRATEGIC RESPONSE
ABT is strategically addressing the dynamics of the
international underground mining sector through a multi-
faceted approach centered on technology, market expansion,
and a deep understanding of customer needs.
1.
Leveraging Core Technology and R&D for
Product Diversification
ABT’s primary strategic initiative is to leverage its
proprietary technologies and product portfolio and
diversify its offerings via actively investing in R&D. This
diversification is guided by direct market insights and
a focus on understanding the specific fleet and asset
management needs of its customers. This disciplined
approach ensures that new products are not only
technologically sound but also aligned with market
demands and deliver an optimal return on investment.
A key example is the automatous braking system,
BRAKEiQ, which seamlessly integrates with existing
Collision Avoidance Systems.
2.
Integrating Braking Systems with Collision
Avoidance Technology
A major strategic move for ABT is the integration of
its failsafe braking systems with collision avoidance
technology. The company recognises that as the mining
industry increasingly adopts Level 9 Collision Avoidance
Systems to mitigate the high risk of vehicle-related
fatalities, there is a growing need for complementary,
integrated safety solutions. By combining its robust
braking technology with active intervention systems,
ABT is positioning itself as a provider of a comprehensive
safety solution that goes beyond a standard OEM
offering. A strategic focus on “failsafe braking” and “CAS”
combination addresses a critical industry need and
positions ABT as a trusted safety brand.
3.
Global Market Expansion and Customer Focus
ABT’s strategy for Fiscal Year 2026 (FY26) is explicitly
centered on expanding sales into new geographic
markets and reaching a wider customer base. This global
expansion is a direct response to the positive outlook for
the mining sector and its increasing demand for advanced
safety technology. By diversifying its products and
focusing on customer-driven innovation, ABT is aiming
to capitalise on the international growth opportunities,
solidifying its position as a global supplier and a trusted
partner for mining operations worldwide. The company’s
recent strong performance in key offshore markets like
Indonesia and Mongolia demonstrates the early success
of this international growth strategy.
ABT Annual Report 2025

RISK MANAGEMENT
ABT’s risk management framework supports the identification,
assessment, and mitigation of key risks, fostering a culture
of accountability and informed decision-making. Key
operational, financial, and strategic risks are reviewed
quarterly and reported to the Risk Committee and the Board.
The principal risks to ABT’s ability to operate a global
business, drive sustainable growth, and maintain cost
competitiveness— and the strategies implemented to
mitigate them—are summarised below:
Cyber Security and Information Technology Risk
ABT faces risks associated with targeted cyber-attacks, data
breaches, and unauthorised access to IT systems, which
could lead to financial loss, reputational harm, operational
disruption, or non-compliance with regulatory obligations.
Mitigation Strategies:
Ongoing development and enhancement of IT policies
and procedures, including controls over device use,
system access, and data security.
Mandatory cyber security awareness training for all
employees.
Regular cyber risk updates to the Board.
Health & Safety Risk
Maintaining a safe and healthy workplace is fundamental
to ABT’s operations. Inadequate health and safety practices
could result in workplace injuries, operational delays, or legal
non-compliance.
Mitigation Strategies:
A comprehensive Occupational Health & Safety
Management System is in place.
Continuous review and refinement of safety procedures
and incident response protocols
People Risk
Western Australia’s mining boom has intensified competition
for skilled labour, particularly in engineering, manufacturing,
and technical roles.
Mitigation Strategies:
Competitive remuneration and benefits offerings.
Strategic workforce planning, including succession and
critical role coverage.
Investment in talent development, apprenticeships, and
partnerships with local institutions.
Innovation Risk
Innovation is critical to ABT’s ability to deliver tailored
engineering solutions that meet evolving customer needs.
A failure to innovate could impact market share and
competitiveness.
Mitigation Strategies:
Ongoing investment in research, development, and
engineering capabilities.
Focus on intellectual property protection and recruitment
of skilled technical personnel.
Maintaining
a
strong
value
proposition
through
performance, quality, and innovation
Strategic Risk
ABT continually evaluates strategic opportunities to expand
capabilities and enter new markets. Poor strategic execution
could affect long-term business viability.
Mitigation Strategies:
Regular review of strategic initiatives by the Board.
Disciplined investment decision-making and capital
allocation.
Monitoring
of
market
conditions
and
competitor
landscape
Supply Chain Risk
ABT relies on key suppliers for critical components, making
the business vulnerable to supply disruptions and cost
increases.
Mitigation Strategies:
Long-term relationships with strategic suppliers.
Forecast sharing to support supplier planning.
Development of contingency plans and alternative
sourcing strategies.
Climate Change Risk
ABT is exposed to physical and transitional risks associated
with climate change. These include potential supply chain
disruptions due to extreme weather events, and evolving
regulatory requirements related to emissions, energy use,
and environmental compliance. These factors may increase
operational costs, impact asset values, or affect customer
demand, particularly in carbon-sensitive markets. The
company continues to monitor these risks and integrate
sustainability considerations into strategic and operational
planning.
16 | ©2025 Advanced Braking Technology Ltd. All rights reserved.
Operating and Financial Report
ABT Annual Report 2025

17
SUSTAINABILITY SNAPSHOT
ABT is committed to responsible business practices that
contribute to the long-term sustainability of its operations,
the environment, and the communities in which it operates.
This commitment is embedded in our values and informs our
Environmental, Social, and Governance (ESG) initiatives.
Environmental
ABT actively manages its environmental impact and carbon
footprint through responsible resource use and sustainable
practices. The company recognises that its operations
have both direct and indirect environmental effects and is
committed to continuous improvement in reducing these
impacts. Sustainability principles are embedded into our
day-to- day decision-making, from procurement through to
facility management.
Key Initiatives:
Investment in energy-efficient buildings, machinery, and
production processes to lower energy use.
Implementation of energy monitoring systems to
track consumption patterns and identify areas for
improvement.
Comprehensive recycling programs targeting paper,
e-waste, metals, and industrial by-products.
Installation
of
water-saving
fixtures
and
water
management strategies to reduce consumption in
operations.
Employee training on environmental sustainability,
including energy conservation, waste reduction, and
eco-friendly workplace behaviours.
Support for employee-led green initiatives, such as office
sustainability challenges.
Consideration of environmental impact during product
development and packaging decisions.
Commitment
to
complying
with
all
relevant
environmental legislation and reporting obligations.
Social
ABT promotes an inclusive, safe, and supportive workplace
culture where employees can thrive. We value the
contributions of all team members and foster a culture that
embraces respect, collaboration, and equal opportunity. ABT
also engages with communities and stakeholders to ensure
that our operations contribute positively to society.
Key Initiatives:
Ongoing improvement in health and safety performance
through
training,
audits,
and
proactive
incident
prevention.
Career development and training opportunities for
all staff, including technical, leadership, and personal
development programs.
Flexible work arrangements such as hybrid work, part-
time roles, and adjusted hours to support work-life
balance.
Employee benefits including retail discounts and
wellness programs.
Access to a confidential Employee Assistance Program
(EAP) for employees and their immediate families.
Promotion of diversity, equity, inclusion, and respectful
workplace behaviour through formal policy and training.
Matching employee donations for charitable causes and
community support programs.
Celebration of cultural and awareness days to foster
belonging and awareness among teams.
Governance
ABT is committed to strong corporate governance practices
that underpin ethical behaviour, robust risk oversight,
and compliance with legal and regulatory obligations.
Transparency, accountability, and integrity guide our business
operations and board-level decision-making.
Key Initiatives:
Regular cyber security risk assessments, staff awareness
training, and ongoing IT infrastructure upgrades.
Increased gender and cultural diversity in leadership
positions and throughout the organisation.
Company-wide training on ethics, compliance, anti-
bribery, and responsible conduct.
A structured risk management framework with quarterly
reporting to the Risk Committee and the Board of
Directors.
Ongoing review and update of governance policies,
including whistleblower protection, modern slavery, and
privacy.
Audit and compliance functions designed to provide
independent assurance of financial and operational
integrity.
Board-level oversight of ESG strategy and performance,
ensuring alignment with stakeholder expectations and
long-term value creation.
Growth and Outlook
The Company’s growth outlook is underpinned by a strong
commitment to meeting the safety needs of customers
across both developed and emerging global markets. This
focus is supported by a clearly defined channel-to-market
strategy and a fully integrated sales and marketing framework
targeting the heavy industrial, mining, mining services, and
international distribution sectors.
Looking ahead, ABT remains focused on executing strategic
growth opportunities aimed at scaling the business,
diversifying revenue streams, and accelerating innovation.
With continued investment in R&D and a pipeline of products
and partnerships, the Company is well-positioned to expand
its global footprint and reinforce its leadership in industrial
safety technology.
Operating and Financial Report
ABT Annual Report 2025
17

The Directors of Advanced Braking Technology Ltd
(‘Company’ or ‘ABT’) and its controlled entity Advanced
Braking Pty Ltd (the ‘Group’ or the ‘Consolidated
Group’ or the ‘Consolidated Entity’), present the
annual financial report for the financial year ended
30 June 2025. For the purposes of the Corporations
Act 2001, the Directors provide the report as follows:
The following persons were Directors of the Company
during the financial year are as follows:
Principal Activities
The principal activity of the Consolidated Group during the
course of the year was the research, development, design,
commercialisation and manufacture of the ABT Failsafe
Brakes, ABT Failsafe Emergency Driveline Brakes and
associated braking systems.
Operating Results
The results of the Consolidated Group for the year ended 30
June 2025 were a net profit from continuing operations, after
income tax, of $1,780m (2024: net profit $1,306m). Revenues
from continuing operations were $19,131m (2024: $15,287m).
Revenues from other activities were $0.743m (2024: $1,168m).
Dividends
There have been no dividends paid or declared by the
Company.
SUMMARY OF MATERIAL TRANSACTIONS
Issue of Securities
In April 2025, the Company issued 193,182 of ordinary shares
as part of the Employee Share Plan. Refer to remuneration
report and Note 18 for further details.
Exercise of Options
In May 2025, the company issued 2,979,055 new ordinary
shares in the Company on the exercise of 2,979,055 unlisted
options exercisable at $0.04 to our KMP, A Booth. Refer to
remuneration report and Note 23 for further details.
In May 2025, the company issued 1,489,527 new ordinary
shares in the Company on the exercise of 1,489,527 unlisted
options exercisable at $0.06 to our KMP, A Booth. Refer to
remuneration report and Note 23 for further details.
In June 2025, the company issued 4,468,582 new ordinary
shares in the Company on the exercise of 4,468,582 unlisted
options exercisable at $0.06 to our KMP, A Booth. Refer to
remuneration report and Note 23 for further details.
In June 2025, the company issued 3,911,109 new ordinary
shares in the Company on the exercise of 3,911,109 unlisted
options exercisable at $0.06 to our KMP, A Godbeer. Refer to
remuneration report and Note 23 for further details.
Research And Development Tax Incentive
Following the lodgment of the Company’s FY24 income tax
return, ABT is expected to receive $671,255 as a refundable
tax offset for eligible research and development expenditure
relating to the development of its innovative braking solutions
during FY24. For the current year of FY25, ABT is anticipated
to receive $726,104 for its eligible research and development
expenditure for the year.
Significant Changes in the State of Affairs
In the opinion of the Directors there were no matters that
significantly affected the affairs of the Group during the
financial year, other than those matters referred to in the
Operating and Financial Review above.
Particulars of each director’s experience and qualifications are set out later in this report.
18 | ©2025 Advanced Braking Technology Ltd. All rights reserved.
Directors’ Report
ABT Annual Report 2025
DIRECTORS’ REPORT
Name
Position
Appointment Date
Resignation Date
Dagmar Parsons
Chair
22-Apr-18
-
David Slack
Non-Executive Director
9-Sep-09
-
Adam Levine
Non-Executive Director
9-Apr-13
18th August 2025
Les Guthrie
Non-Executive Director
1-Aug-23
-

19
Directors’ Report
ABT Annual Report 2025
19
INFORMATION ON DIRECTORS
Experience and
Expertise
Ms Parsons has more than 25 years of experience in the mining and resources industry across a
range of functions, working in senior executive roles with Worley Parsons, AECOM and Downer.
Ms Parsons has worked with major national and multinational entities to drive critical market
success by providing strategic direction, visionary leadership and innovative thinking. As a
Mechanical Engineer, Ms Parsons has developed an in-depth knowledge of engineering,
manufacturing, and service industry environments in the Mining, Oil and Gas, Power and
Infrastructure sectors.
Ms Parsons has considerable experience in transforming and growing complex businesses
across diverse corporate, operational and entrepreneurial roles in Australia, Asia and Europe.
She has a strong appreciation of the role of good governance in setting, implementing and over-
sighting strategic imperatives. Ms Parsons holds a Masters Degree in Mechanical Engineering
and a Masters in Business Administration. She is also a graduate member of the Australian
Institute of Company Directors.
Qualifications
Dipl.-Ing. (TH), MBA, GAICD
Directorship held in
other listed entities
Non-Executive Director of Laserbond Ltd (ASX: LBL)
Period of Directorship January 2023 to current
Former directorship in
last three years
Non-Executive Director of Greenvale Mining Ltd (ASX Code: GRV)
Period of Directorship June 2021 to August 2022
Special
responsibilities
Member of Audit & Risk Committee, Member of Remuneration & Nomination Committee.
Interest in shares,
options and
performance rights
Shares – 840,000
Options – Nil
Performance Rights - Nil
Dagmar Parsons
Non-Executive Chair
Appointed 22 April 2018
Events Subsequent to Balance Date
Mr Adam Levine resigned as Non -Executive Director effective
18 August 2025, no other matter or circumstance has arisen
since 30 June 2025 that has significantly affected, or may
significantly affect the consolidated entity’s operations, the
results of those operations, or the consolidated entity’s state
of affairs in future financial years.

Future developments
By leveraging the core SIBS intellectual property, established
product portfolio, and historical R&D investment, the Company
is well-positioned to grow sales in FY26 across a broader
customer base and wider geographic markets. This growth
is driven by the diversification of vehicle applications, guided
by market intelligence and a clear understanding of customer
fleet and asset management needs, all underpinned by a
disciplined focus on return on investment.
Looking forward, The Company will continue to evolve its
product offering through sustained R&D, ensuring long-
term relevance as global trends in vehicle automation
and electrification accelerate. Additionally, as awareness
increases around the environmental impacts of non-
exhaust emissions—such as brake dust—among regulators
and consumers, The Company is committed to delivering
innovative braking solutions that support cleaner, safer
industrial requirements.
Environmmental Regulation
The Consolidated Entity is not subject to any particular
and significant environmental regulation under a law of the
Commonwealth or of a State or Territory.

20 | ©2025 Advanced Braking Technology Ltd. All rights reserved.
ABT Annual Report 2025
Experience and
Expertise
Mr Levine, has over 25 years national and global experience in structuring and executing private
equity investments and corporate finance transactions both as legal advisor and a principal
investor.
Mr Levine is the Executive Chair and Co-Founder of the Rockwell Group which undertakes
principal investments into regulated financial and professional services businesses as well as
global social ventures.
Mr Levine’s extensive private equity experience and proactive investment practice have been
the major contributory factor to the Rockwell Group’s success with a portfolio IRR in excess of
most leading national and global private equity funds. He brings a very analytical and inquiring
mind when engaging with, challenging and supporting the key Executives of the companies he
invest into.
Adam Levine
Non-Executive Director
Appointed 9 April 2013,
Resigned 18 August 2025
Qualifications
Mr Slack has a Bachelor of Economics with Honours and is a fellow of FINSIA. He is also a
member of the Australian Institute of Company Directors.
Directorship held in
other listed entities
Non-Executive Director of The Australian Wealth Advisors Group Limited ( ASX: WAG)
Period of Directorship April 2024 to current
Former directorship in
last three years
Nil
Special
responsibilities
Chair of Audit & Risk Committee, Member of Remuneration & Nomination Committee.
Interest in shares,
options and
performance rights
Shares – 78,379,591
Options – Nil
Performance Rights - Nil
Experience and
Expertise
Mr Slack has been a substantial shareholder and NED of Advanced braking for the past 16 years.
He is a non executive director of two other public companies, apart from Advanced Braking. He
is an NED of Australian Wealth Advisor Group, an ASX listed company (ASX: WAG) which is a
financial planning and fund management group. He is a NED and Chaiman of Transport Safety
Systems Group, an Australian public unlisted company in the commercialization phase of a new
rail crossing technology. He is also a Board advisor to AgFood Fund, an investor in listed and
unlisted agricultural related businesses.
Mr Slack has had over 45 years experience as an Australian Equities fund manager and has
been involved in the establishment of 3 successful fund management companies being,
County NatWest Investment Management, Portfolio Partners and Karara Capital.
David Slack
Non-Executive Director
Appointed 9 September 2009
Directors’ Report

21
ABT Annual Report 2025
21
Experience and
Expertise
Mr Guthrie is an engineer with 45 years’ experience in the project delivery space. He has held
corporate executive and project management roles, across the UK, Australia, North America,
and Asia. It is a background steeped in the strategy, development and delivery of major capital
programs spanning mining, infrastructure, and oil & gas.
Mr Guthrie is the Managing Director of Bedford Road Associates, where he has provided advice
and delivery support to clients in Mongolia, South Korea, New Zealand as well as in Australia.
Prior to establishing Bedford Road, Mr Guthrie was Vice President Projects for BHP Billiton.
Previously, he held roles as Group Head of Capital Projects and President LNG for BG Group in
UK, President of Aker Kvaerner Inc in the US, and the Management Director of Aker Kvaerner
Australia.
Mr Guthrie was a founding contributor to the John Grill Center for Project Leadership at Sydney
University and was previously engaged as a subject matter expert by EY Advisory.
Qualifications
B.Sc (Engineering and Marketing)
Directorship held in
other listed entities
Non-executive Director of Neometals Ltd (ASX: NMT)
Period of Directorship, September 2018 to present
Les Guthrie
Non-Executive Director
Appointed 1 August 2023
Experience and
Expertise
Mr Levine currently sits on the boards of a number of global businesses including FMD Financial
Pty Ltd, Tharr Group Pte, LOFB International LLC and a number of other private companies.
Mr Levine is also the founder (with his wife) and Chair of the Rockwell Foundation, a private
ancillary fund, which focuses on supporting opportunities for under privileged youth. He is also
the mediate past Chairman of the Australian Jewish Museum Foundation Limited, and has been
Chairman of YPO Melbourne and an active global member of YPO for over 10 years.
Qualifications
L.B (Hon), B.Ec (Acc)
Directorship held in
other listed entities
Nil
Former directorship in
last three years
Nil
Special
responsibilities
(Up until the date of resignation) Chair of the Remuneration & Nomination Committee,
Member of Audit & Finance Committee and Member Risk Committee.
Interest in shares,
options and
performance rights
Shares – 777,778
Options – Nil
Performance Rights - Nil
Directors’ Report

INFORMATION ON OFFICERS
Mr Booth has Corporate Development and Strategic
leadership experience across Banking and Finance, Advisory,
Private Equity, Agriculture, FMCG and Logistics in the Asia
Pacific region.
Prior to joining ABT, Mr Booth lead transformational growth of
a number organisations including a logistics company in WA
through to successful trade sale exit on behalf of investors.
Formerly based in Hong Kong; Mr Booth managed Strategy
and Governance across 34 Countries for ANZ Banking Group
and Asia Pacific development, supporting inbound investment
as well as export across a diverse range of industry sectors in
Australia.
Mr Booth has a Master of Business Administration from
Australian Graduate School of Management, is a Graduate of
Australian Institute of Company Directors and is an Asialink
Leadership Alumni.

Ms Godbeer is an accomplished finance and strategy executive
with over 20 years of experience in financial management,
strategic leadership, and corporate governance. Her career
spans a diverse range of industries including Engineering,
Manufacturing, Media, and Financial Services across both the
United Kingdom and Australia.
Ms Godbeer has a strong track record of driving organisational
performance through sound financial oversight, strategic
planning, and operational transformation. Prior to joining
ABT, she held senior finance leadership roles where she was
instrumental in the development and execution of financial
strategies that supported growth, profitability, and long-term
sustainability.
Ms Godbeer’s expertise includes enterprise resource planning
(ERP) system implementations, cross-functional project
management, business process re-engineering, change
management, and enterprise risk control. She is recognised
for her ability to lead complex transformation initiatives,
enhance financial transparency, and deliver commercial
insights that inform executive decision-making.
Ms Godbeer holds multiple professional designations: she
is a Certified Practicing Accountant (CPA), an Associate of
the Governance Institute of Australia (AGIA), a Chartered
Management Accountant (ACMA), and a Chartered Global
Management Accountant (CGMA). She brings a strong
governance lens to her work and is committed to ethical
leadership, stakeholder engagement, and building high-
performing teams.
INFORMATION ON
COMPANY SECRETARY
Ms Smith was appointed joint Company Secretary 19 July
2018 and Company Secretary on 10 August 2018. Ms Smith
provides company secretarial and accounting services to
various public and proprietary companies. She is a Chartered
Accountant, a fellow member of the Governance Institute of
Australia and holds a Bachelor of Commerce (Accounting).
The Company Secretary is accountable to the Board,
through the Chair, on all matters to do with the effective
functioning of the Board. All directors have direct access to
the Company Secretary.
Former directorship in
last three years
Australian Mines Ltd
Period of Directorship November 2019 to July 2023
DRA Global Ltd ( Chair of People, Culture and Remuneration Committee, and member of
Sustainability, Safety, Health and Environmental Committee)
Period of Directorship
January 2020 to October 2023
Special
responsibilities
Chair of Risk Committee, Member of Audit & Finance Committee, Chair of Remuneration &
Nomination Committee effective 18 August 2025
Interest in shares,
options and
performance rights
Shares – 120,000
Options – Nil
Performance Rights - Nil
22 | ©2025 Advanced Braking Technology Ltd. All rights reserved.
ABT Annual Report 2025
Andrew Booth
Chief Executive Officer
Appointed 15 March 2022
Kaitlin Smith
Company Secretary
Appointed 10 August 2018,
Resigned 31 January 2025
Angela Godbeer CPA, AGIA, ACMA, CGMA
Chief Financial Officer
Appointed 2 May 2022
Directors’ Report

23
Mark Pitts
Company Secretary
Appointed 31 January 2025
Mr Pitts has over 35 years’ experience in business administration
and corporate compliance. Having started his career with
KPMG, Mr Pitts has worked at senior management level in a
variety of commercial and consulting roles including mining
services, healthcare and property development. Mr Pitts
has been directly involved with, and consulted to a number
of public companies holding senior financial management
positions. Mr Pitts is a Principal in the Company Secretarial
division of Automic Finance.Mr Pitts is a Fellow of the Institute
of Chartered Accountants and a graduate member of the
Australian Institute of Company Directors. He has more than
35 years’ experience in statutory reporting and business
administration.
Corporate Governance Statement
The Board is committed to achieving and demonstrating
the highest standards of corporate governance. The Board
continues to refine and improve the governance framework
and practices in place to ensure they meet the interests of
shareholders and our global stakeholders.
The Board has prepared the Corporate Governance Statement
in accordance with ASX Corporate Governance Council’s
Principles and Recommendations, which is available on the
Company’s website at www.advancedbraking.com under
the Investors/Corporate Governance.
Meetings of Directors
The numbers of meetings of the Company’s Board of Directors
and of each Board committee held during the year ended 30
June 2025, and the numbers of meetings attended by each
Director were:
ABT Annual Report 2025
23
Director
Directors’ Meetings
Audit & Finance
Committee
Risk Committee
Remuneration &
Nomination Committee
Held
Attended
Held
Attended
Held
Attended
Held
Attended
Dagmar Parsons
10
10
4
2
1
1
2
2
David Slack
10
10
4
2
1
1
2
2
Adam Levine
10
8
4
2
1
1
2
2
Les Guthrie
10
6
4
2
1
1
2
2
REMUNERATION REPORT (AUDITED)
This remuneration report for the year ended 30 June 2025
outlines the remuneration arrangements of the Company
and the Group in accordance with the requirements of
the Corporations Act 2001 (the Act) and its regulations.
This information has been audited as required by section
308(3C) of the Act.
The remuneration report details the remuneration
arrangements for key management personnel (KMP)
who are defined as those persons having authority and
responsibility for planning, directing and controlling the
major activities of the Company and the Group, directly
or indirectly, including any Director (whether executive or
otherwise) of the Parent Company.
Individual key management personnel disclosures
Details of KMP of the Parent and Group are set out below.
DIRECTORS
Name
Position
Appointment Date
Resignation Date
Dagmar Parsons
Chair
22-Apr-18
-
David Slack
Non-Executive Director
9-Sep-09
-
Adam Levine
Non-Executive Director
9-Apr-13
18-Aug-25
Les Guthrie
Non-Executive Director
1-Aug-23
-
Directors’ Report

24 | ©2025 Advanced Braking Technology Ltd. All rights reserved.
ABT Annual Report 2025
BOARD OVERSIGHT OF REMUNERATION
Remuneration Committee
During the year, the Remuneration Committee met to make
recommendations to the Board on remuneration policy
and to recommend salary reviews and short and long-term
incentives for the Company’s executives
Remuneration Policy
The remuneration policy of the Company is to pay executive
directors and executives at market rates which are sourced
from average wage and salary publications are subject to
periodic reviews by external consultants and which may
include a mix of short and long-term incentives linked to
performance and aligned with market practice.
In addition, Directors and employees may be issued shares
and share options to encourage loyalty and to provide an
incentive through the sharing of wealth created through
equity growth which is linked to Company performance. The
Remuneration Committees believe the remuneration policy
to be appropriate and effective and tailored to increase
congruence between shareholders and Directors and
executives.
The following table shows the gross revenue, net profit and
ABV share price of the Company at the end of each respective
financial year.
NON-EXECUTIVE DIRECTOR
REMUNERATION ARRANGEMENTS
Remuneration Policy
The Board seeks to set aggregate remuneration at a level that
provides the Company with the ability to attract and retain
directors of the highest calibre, whilst incurring a cost that is
acceptable to shareholders.
The amount of aggregate remuneration sought to be
approved by Shareholders and the fee structure is reviewed
against fees paid to non-executive directors of comparable
companies. The Company’s Constitution and the ASX listing
rules specify that the Non-Executive Directors’ fee pool shall
be determined from time to time by a general meeting. The
latest determination was at the 2022 Annual General Meeting
(AGM) held on November 2022 when Shareholders approved
an aggregate fee pool of $500,000 per year.
Structure
The remuneration of Non-Executive Directors consists of
directors’ fees. There are no schemes for retirement benefits for
Non-Executive Directors other than statutory superannuation
and Non-Executive Directors do not participate in any
incentive programs. Other than the Chair, each Non-Executive
Director received a base fee of $55,000 per annum plus the
superannuation guarantee contribution. The Chair received
a base fee of $85,000 plus the superannuation guarantee
contribution.
Voting and Comments from the Company’s
2024 Annual General Meeting
At the Company’s most recent Annual General Meeting held
in November 2024, majority of eligible votes were cast for
the adoption of the 30 June 2024 remuneration report. As no
comments were received from shareholders who had voted
against the resolution at that meeting, the Board does not
propose any action with respect to its resolution at this time.
The Board engaged a Renumeration consultant during the
period to assess its remuneration policy and considers the
policy to be appropriate and properly aligned with the current
size and performance of the Group.
Company
Performance
30-Jun-25
30-Jun-24
30-Jun-23
30-Jun-22
30-Jun-21
Total Revenue
($‘000)
19,874
16,627
14,690
11,741
10,448
Net Profit /
(loss) ($‘000)
1,780
1,306
1,474
644
620
ABV Share Price
7.9 cents
5.6 cents
3.8 cents
2.6 cents
3.5 cents
Directors’ Report
EXECUTIVES
Name
Position
Appointment Date
Resignation Date
Andrew Booth
Chief Executive Officer
15-Mar-22
-
Angela Godbeer
Chief Financial Officer
2-May-22
-

25
ABT Annual Report 2025
25
EXECUTIVE REMUNERATION ARRANGEMENTS
Remuneration level and mix
The Group aims to reward executives with a level and mix of remuneration commensurate with their position and
responsibilities within the Group and aligned with market practice. ABT undertakes an annual remuneration review to
determine the total remuneration positioning against the market.
Remuneration Structure
In the financial year ended 30 June 2025, the executive remuneration framework consisted of the following components:
•
Based pay and – non monetary benefits
•
Share-based payments
•
Other remuneration such as superannuation and long service leave.
The combination of these comprises the executives’ total renumeration.
The table below illustrates the structure of Advanced Braking Technology Ltd’s executive remuneration arrangements:
Executive Employment Contracts
The Company’s executive KMP are engaged under service agreements that are ongoing and have no fixed end date.
However, these contracts may be terminated by notice from either party with a 3 months’ notice period, except in
certain circumstances such as misconduct where no notice period applies. In the event of termination, statutory
entitlement applies.
Superannuation is capped as per annual legislative rates. For financial year 2025, superannuation for the KMP executives
was capped at $30,000.
Remuneration Component
Payment Vehicle
Purpose
Link to Performance
Fixed remuneration
Represented by total
employment cost
(TEC). Comprises
base salary, plus
superannuation
contributions.
Set with reference
to role, market and
experience.
Based on annual
appraisal and
reference to market
rates.
Short-term incentive
component (STI)
During the FY25 year,
a new STI scheme was
put in place for KMP &
executives.
Rewards executives
for their contribution to
achievement of Group
outcomes.
Linked to key
performance
indicators including
group performance
such as gross profit,
net profit targets,
and performance
against budget
as well as targets
such as product
commercialisation. All
incentives are at the
discretion of the Board
of Directors.
Long-term incentive
component (LTI)
During the FY25 year,
a new Performance
Rights scheme was
put in place for KMP
executives.
Rewards executives
for their contribution to
performance of Group.
Linked to Total
Shareholder Return,
sales budgets and
profit targets. At
judgement and
discretion of the Board
of Directors.
Directors’ Report

26 | ©2025 Advanced Braking Technology Ltd. All rights reserved.
ABT Annual Report 2025
Mr. Andrew Booth
Mr Booth was appointed the Chief Executive Officer on 15 March 2022, and has been provided with an annual remuneration of
$415,000 exclusive of superannuation. To incentive performance and encourage retention, the Company issued share options
based on Company share price over 3 years. The material terms of the share options and performance rights are outlined below.
Ms. Angela Godbeer
Ms Godbeer was appointed the Chief Financial Officer on 2 May 2022, and has been provided with an annual remuneration of
$315,000 exclusive of superannuation. To incentive performance and encourage retention, the Company issued share options
based on Company share price over 3 years. The material terms of the share options and performance rights are outlined below.
Directors’ & Other Key Management’s Interest in the Company
The following tables sets out each current Director’s and other KMP’s relevant interest in shares, options to acquire shares of the
Company or a related body corporate as at 30 June 2025.
Equity Holdings and Transactions
The movement during the reporting period in the number of securities of Advanced Braking Technology Ltd held, directly,
indirectly or beneficially, by each Director or Executive, including their related party entities, are as follows:
1 D Slack acquired shares on market on November 2024 and December 2024.
2 L Guthrie acquired shares on market on November 2024.
3 A Booth exercised his options in June 2025. Refer to transactions with KMP for details.
4 During the period, management granted employee shares to eligible employees. Refer to Other Equity Plans for details.
5 A Godbeer exercised her options in November 2024 and June 2025. A Godbeer sold shares on market in November 2024. Refer
to transactions with KMP for details.
ORDINARY SHARES
Directors
Balance at
1 July 2024
Granted
Exercise of
options
Other
movement
Balance
at 30
June 2025
Dagmar Parsons
840,000
-
-
-
840,000
David Slack 1
75,520,131
-
-
2,859,460
78,379,591
Adam Levine
777,778
-
-
-
777,778
Les Guthrie 2
-
-
-
120,000
120,000
Sub-total
77,137,909
-
-
2,979,460
80,117,369
Executives
Andrew Booth 3,4
3,305,038
11,364
8,937,164
12,253,566
Angela Godbeer 4,5
17,857
11,364
5,958,109
(2,047,000)
3,940,330
Sub-total
3,322,895
22,728
14,895,273
-
16,193,896
Total
80,460,804
22,728
14,895,273
932,460
96,311,265
Directors’ Report

27
ABT Annual Report 2025
27
Details of Remuneration of Directors and Executives
The details of the nature and amount of remuneration for each Director and Executive (Key Management Personnel) of the
Company are:
1 The unlisted options were exercised during the year, refer to notes within the remuneration report and note 22 for further
details.
UNLISTED OPTIONS
Directors
Balance at
1 July 2023
Granted during
the period as
compensation
Exercise
of Options
Balance at
30 June 2024
(or date of
resignation)
Vested and
exercisable at
30 June 2024
Dagmar Parsons
-
-
-
-
-
David Slack
-
-
-
-
-
Adam Levine
-
-
-
-
-
Total
-
-
-
-
-
Executives
Andrew Booth 1
8,937,164
-
(8,937,164)
-
-
Angela Godbeer 1
5,958,109
-
(5,958,109)
-
-
Total
14,895,273
-
(14,895,273)
-
-
Directors
Year
Short Term
benefits
Post
Employment
Long Term
Benefits
Share Based
payments
Total
Salary and
Fees ($)
Cash
Bonus
($)
Superannuation
($)
Long Service
Leave ($)
Performance
Rights ($)
Options
($)
Total ($)
Performance
related %
Adam Levine
2024
61,106
-
-
-
-
-
61,106
-
2025
61,412
-
-
-
-
-
61,412
-
David Slack
2024
55,000
-
6,050
-
-
-
61,050
-
2025
55,000
-
6,325
-
-
-
61,325
-
Dagmar
Parsons
2024
85,001
-
9,350
-
-
-
94,351
-
2025
85,001
-
9,775
-
-
-
94,776
-
Les Guthrie
2024
50,417
-
5,546
-
-
-
55,963
-
2025
55,000
-
6,325
-
-
-
61,325
-
Total NED
2024
251,524
-
20,946
-
-
-
272,470
-
Total NED
2025
256,413
-
22,425
-
-
-
278,838
Directors’ Report

Cash Bonuses, Performance-related Bonuses and Share-based Payments
Details of STI’s and LTI’s are as follows:
Short Term Incentives
The Company has implemented minimum performance conditions for senior executive participation in the FY25 Short-Term
Incentive (STI) plan. For an STI to be payable, at least one of the following performance thresholds must be met:
•
Gross Profit Margin (GPM)
•
Net Profit Before Tax (NPBT)
Each financial year, these minimum GPM and NPBT thresholds will be reviewed and reset. Executives are eligible to receive an
STI if at least one of the two targets is achieved.
In addition to financial thresholds, executives must also meet individual Key Performance Requirements (KPRs), which are
established and agreed with the Chief Executive Officer (CEO), and for the CEO, with the Remuneration Committee, at the
beginning of each financial year. These KPRs are designed to be measurable, achievable with some stretch, and aligned with
strategic objectives. All STI payments will be made in cash.
There were no short-term cash incentives accrued for 2025. (2024: $68,733 paid in 2025).
Long Term Incentive Plan
Unlisted Options
In prior years, options were granted to KMPs with various vesting and expiry dates as tabled.
28 | ©2025 Advanced Braking Technology Ltd. All rights reserved.
ABT Annual Report 2025
Non
Executive
Directors
Year
Short Term
benefits
Post
Employment
Long Term
Benefits
Share Based payments
Total
Salary
and
Fees ($)
Cash
Bonus
($)
Superannuation
($)
Long
Service
Leave ($)
Performance
Rights ($)
Options
($)
Total ($)
Performance
related %
Andrew
Booth
2024
387,020
42,108
25,208
-
-
50,541
504,877
18
2025
385,883
-
30,000
-
66,962
11,104
493,949
16
Angela
Godbeer
2024
246,779
26,625
25,575
-
-
29,889
328,868
17
2025
271,667
-
30,000
-
34,398
14,404
350,469
14
Total KMP
2024
633,799
68,733
50,783
-
-
80,430
833,745
18
Total
KMP
2025
657,550
-
60,000
-
101,360
25,508
844,418
15
Total
Consolidated
2024
885,323
68,733
71,729
-
101,360
80,430
1,207,575
13
Total
Consolidated
2025
913,963
-
82,425
-
101,360
25,508
1,123,256
11
Executives
No of options
Grant Date
Vesting Date
Expiry Date
FV at grant
date
Valuation
Method
Andrew Booth
1,489,527
8/11/2021
8/11/2022
30/6/2024
$0.01
Black
Scholes
Andrew Booth
1,489,527
8/11/2021
8/11/2023
30/6/2024
$0.01
Black
Scholes
Andrew Booth
2,979,054
8/11/2021
8/11/2024
30/6/2025
$0.01
Black
Scholes
Andrew Booth
1,489,527
1/12/2022
31/12/2022
30/6/2025
$0.01
Black
Scholes
Directors’ Report

29
Executives
No of options
Grant Date
Vesting Date
Expiry Date
FV at grant
date
Valuation
Method
Andrew Booth
1,489,527
1/12/2022
31/12/2023
30/6/2025
$0.01
Black
Scholes
Andrew Booth
2,979,054
1/12/2022
31/12/2024
30/6/2025
$0.01
Black
Scholes
Angela Godbeer
1,489,527
4/01/2023
30/4/2023
30/6/2025
$0.01
Black
Scholes
Angela Godbeer
1,489,527
4/01/2023
30/4/2024
30/6/2025
$0.01
Black
Scholes
Angela Godbeer
2,979,054
4/01/2023
30/4/2025
30/6/2025
$0.01
Black
Scholes
ABT Annual Report 2025
29
Directors’ Report
As at 30 June 2025, there were no unexercised or outstanding options held by any KMP.
Shares Issued on Exercise of Options
During the year ended 30 June 2025, 14,895,273 options were exercised. (2024: 2,979,054 expired, 5,958,109 lapsed on
employee termination).
In November 2024 and June 2025, the company issued 5,958,109 new ordinary shares in the Company on the exercise of
5,958,109 unlisted options exercisable at $0.06 to Ms Godbeer.
In May 2025, the company issued 2,979,055 new ordinary shares in the Company on the exercise of 2,979,055 unlisted options
exercisable at $0.04 to Mr Booth.
In May and June 2025, the company issued 5,958,109 new ordinary shares in the Company on the exercise of 5,958,109
unlisted options exercisable at $0.06 to Mr Booth.
Performance Rights
During the year, the Board endorsed the use of Performance Rights as the preferred LTI instrument for senior executives, in
place of Options. Performance Rights are considered more appropriate due to their reduced dilutive impact on the Company’s
equity and their suitability in a volatile share price environment.
The Performance Rights will be subject to two key performance hurdles:
•
Total Shareholder Return (TSR); and
•
Earnings per Share Growth (EPS).
In addition, a three-year tenure-based vesting condition will apply. Performance Rights will be offered annually on a rolling
basis. Rights will lapse if performance and tenure conditions are not met.
Where an executive ceases employment having met all vesting conditions, a 30-day window will be provided to exercise
vested rights.
This structure is intended to align executive rewards with shareholder value creation and to support long-term company
growth. The use of Performance Rights is also viewed as a strong motivational tool, reinforcing the achievement of strategic
financial objectives set by the Board. As at the reporting date, the performance rights had been granted but not yet accepted
by the executives.

ABT Annual Report 2025
30| ©2025 Advanced Braking Technology Ltd. All rights reserved.
Share-based Payment Arrangements and Controlled Trust
During the year, the Company advanced limited recourse loans to Mr A Booth and Ms A Godbeer to fund the exercise of
8,379,691 options into ordinary shares under the Employee Incentive Securities Plan. The loans are repayable only from the
sale proceeds of the related shares, capped at the loan amount, and are therefore accounted for as equity-settled share-
based payments under AASB 2 Share-based Payment.
The total fair value of the equity instruments granted, approximated by the loan value, was $502,781.42. The vesting period is
two years, commencing 27th June 2025. For the year ended 30 June 2025, the expense recognised is $1,503 (FY24: Nil), reflects
valuation by way of Black Scholes model with inputs below.
The shares are held in the Advanced Braking Technology Option Share Trust, which exists solely to facilitate the Company’s
employee equity incentive plans. Under AASB 10 Consolidated Financial Statements, the trust is consolidated into the Group’s
accounts. Shares held in the trust are classified as treasury shares and deducted from equity until transferred to employees.
At 30 June 2025, the trust held 8,379,691 shares related to this arrangement.
VALUATION
Options granted
8,379,691
Valuation Date
27/06/2025
Expiry date
27/06/2027
Share Price
$ 0.079
Exercise Price
$ 0.060
Time to Expiry
2 years
Risk Free Rate
3.20%
Dividend Yield
Nil
Valuation Method
Black Scholes
Fair Value of one option
$ 0.0436
Total fair value of options
$ 365,702

31
ABT Annual Report 2025
Other Equity Plans
Eligible employees are offered shares in the Company, at
no cost to the employees, to the value of $1,000 per annum
under the terms of the Company’s Employee Share Plan.
There are no performance conditions, because the plan is
designed to align the interests of participating employees
with those of shareholders.
During the year, 11,364 shares were issued to Mr Booth and Ms
Godbeer respectively at $0.088, under the Employee Share
Scheme. These shares are subject to a restriction trading until
25 February 2028 (inclusive) or when employment is ceased.
Other Equity-related KMP Transactions
There have been no other transactions involving equity
instruments apart from those described in the tables above
relating to options and shareholdings.
Loans to KMP
During the year, the Company provided unsecured loans to
members of Key Management Personnel. The loans carry
interest at 6% per annum, are unsecured, and repayable by
27 June 2027.
At 30 June 2025, the balance of these loans was $502,780
(2024: $0). No Interest income was recognised during the
year. No amounts were written down or forgiven.
These transactions were made on terms equivalent to those
that prevail in arm’s length transactions
Transactions with Key Management Personnel
There have been no other transactions with KMP during the
financial year 2025.
Indemnification and Insurance of Directors and Officers
During the course of the year the Company has paid a premium
for Directors and Officers liability insurance. The insurance
would cover costs and expenses incurred in defending legal
proceedings arising out of their conduct while acting in the
capacity of director or officer of the Company, other than
conduct involving wilful breach of duty in relation to the
Company. The insurance incurred in the current financial
year is $36,958 (2024: $37,234) to insure the Directors and
Company Secretaries of the Company.
Indemnification and Insurance of Auditors
The Company has not during, or since the end of the financial
year, in respect of an auditor of the Consolidated Group, paid
a premium to indemnify an auditor against a liability incurred
as an auditor, including costs and expenses in successfully
defending legal proceedings.
Proceedings on Behalf of the Company
No person has applied to the Court under section 237 of
the Corporations Act 2001 for leave to bring proceedings on
behalf of the Company, or to intervene in any proceedings
to which the Company is a party, for the purposes of taking
responsibility on behalf of the Company for all or part of those
proceedings.
Non-Audit Services
The Board of Directors, in accordance with advice from the
Audit and Risk committee, is satisfied that the provision of
non-audit services during the year is compatible with the
general standard of independence for auditors imposed by
the Corporations Act 2001.
The directors are satisfied that the services disclosed below
did not compromise the external auditor’s independence for
the following reasons:
- all non-audit services are reviewed and approved to ensure
they do not adversely affect the integrity and objectivity of the
auditor; and
- the nature of the services provided does not compromise
the general principles relating to auditor independence in
accordance with APES 110: Code of Ethics for Professional
Accountants set by the Accounting Professional and Ethical
Standards Board.
The following fees were paid or payable to the auditor for
non-audit services provided by BDO during the year ended
30 June 2025 is $12,500. (FY24: $10,000 by prior auditors).
Please refer to note 26 for details.
Directors’ Report
KMP
Series
No of rights
Grant Date
Vesting Date
Expiry Date
FV per right
Valuation
Method
Andrew
Booth
EPS
2,248,693
1/7/2024
1/7/2027
1/7/2029
$0.056
Share price
on grant
date
Andrew
Booth
TSR
3,703,676
1/7/2024
1/7/2029
1/7/2029
$0.034
Monte Carlo
Angela
Godbeer
EPS
1,155,151
1/7/2024
1/7/2027
1/7/2029
$0.056
Share price
on grant
date
Angela
Godbeer
TSR
1,902,574
1/7/2024
1/7/2029
1/7/2029
$0.034
Monte Carlo

ABT Annual Report 2025
32| ©2025 Advanced Braking Technology Ltd. All rights reserved.
32
Auditor’s Independence Declaration
The Auditor’s independence declaration is included after this
Directors’ Report.
Rounding of Amounts
The Company is an entity to which ASIC Class Order 98/100
applies and accordingly, amounts in the financial statements
and Directors’ report have been rounded to the nearest
thousand dollars.
Signed in accordance with a resolution of the Board of
Directors
Dagmar Parsons
Chairman
28th August 2025
Directors’ Report

ABT Annual Report 2025
Financial Statements
In this section
Growth assets
15 Property, plant and equipment
59
16 Intangible assets
60
Consolidated statement of financial position
36
Consolidated statement of changes in equity
37
Consolidated statement of cash flows
38
Capital Stucture
About these financial statements
39
17 Capital management
62
18 Issued capital
62
Notes to the Financial Statements
19 Reserves
63
20 Accumulated losses
63
Performance
1
Segment information
43
Other items
2
Revenue
43
21 Key management personnel compensation
63
3
Other income and expenses
45
22 Share based payments
64
4
Taxes
46
23 Controlled entities
68
5
Earnings per share
48
24 Parent entity information
68
25 Related parties
70
Operations Management
26 Auditor remuneration
70
6
Financial risk management
49
27 Contingent liabilities
70
7
Cash and cash equivalent
52
28 Contractual commitments
70
8
Trade and other receivables
53
29 Events after the end of the reporting period
70
9
Trade and other payables
54
10 Inventories
54
11
Other current assets
55
12 Leases
55
13 Interest bearing liabilities
56
14 Provisions
56
Consolidated statement of profit or loss and
other comprehensive income
35
FINANCIAL STATEMENTS
34 | Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Financial Statements
for the year ended 30 June 2025
Jun-25
Jun-24
Restated1
Notes
$’000
$’000
Revenue
2
19,131
15,287
Other Income
2
743
1,168
Expenses
Cost of sales
(9,943)
(7,423)
Amortisation of intellectual property
(64)
(64)
Audit and accounting fees
(121)
(76)
Bad and doubtful debts
(2)
-
Consulting fees
3
(589)
(427)
Consumables and minor equipment
(235)
(475)
Depreciation expense
3
(379)
(323)
Employee expenses
(4,649)
(4,498)
Finance expenses
(137)
(139)
Information technology expenses
(316)
(295)
Insurance
(376)
(308)
Inventory obsolescence expense
(84)
(46)
Legal fees
(113)
(30)
Marketing and advertising expenses
(133)
(53)
Patent expense
(77)
(54)
Property expenses
(105)
(87)
Telephone and other communication
(20)
(28)
Travel and accommodation
(438)
(308)
Other expenses
3
(312)
(117)
(18,094)
(14,751)
Profit before income tax expense
1,780
1,704
Income tax expense
4
-
(398)
Profit after income tax
1,780
1,306
Items that may be reclassified subsequently to profit or loss
-
-
Total comprehensive income for the period
1,780
1,306
Cents
Cents
5
0.463 0.343
5
0.438
0.323
1 The comparative information has been restated as a result of prior period adjustments discussed in Note 1.
The above Consolidated Statement of Profit or Loss and Other Comprehensive Income should be read in
conjunction with the accompanying notes.
Diluted earnings per share
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
Other comprehensive income
Basic earning per share
35 | Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Financial Statements
as at 30 June 2025
Jun-25
Jun-24
Jun-24
Restated1
Notes
$'000
$'000
$'000
CURRENT ASSETS
Cash and cash equivalents
7
2,875
2,408
2,408
Trade and other receivables
8
3,058
3,000
3,000
Inventories
10
4,060
3,614
3,614
Financial assets
45
45
45
Other assets
11
1,685
1,088
1,486
Total current assets
11,724
10,155
10,553
NON-CURRENT ASSETS
Deferred Taxation Asset
4
726
-
-
Property, plant and equipment
15
909
805
805
Right of use assets
12
974
1,055
1,055
Intangible assets
16
471
416
416
Total non-current assets
3,079
2,276
2,276
TOTAL ASSETS
14,803
12,431
12,829
CURRENT LIABILITIES
Trade and other payables
9
2,281
1,957
1,957
Interest bearing liabilities
13
310
286
286
Lease liabilities
12
76
116
116
Provisions
14
370
542
542
Total current liabilities
3,037
2,901
2,901
NON-CURRENT LIABILITIES
Lease liabilities
12
1,016
1,029
1,029
Provisions
14
25
32
32
Total non-current liabilities
1,041
1,061
1,061
TOTAL LIABILITIES
4,078
3,963
3,963
NET ASSETS
10,725
8,469
8,866
EQUITY
Issued capital
18
56,318
55,970
55,970
Reserves
19
576
450
450
Accumulated losses
20
(46,168)
(47,951)
(47,554)
TOTAL EQUITY
10,725
8,469
8,866
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
The above Consolidated Statement of Financial Position should be read in conjunction with the accompanying notes.
1 The comparative information has been restated as a result of prior period adjustments discussed in Note 1.
36 | Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Financial Statements
as at 30 June 2025
Issued
capital
Accumulated
losses
Reserves
Total
Notes
$’000
$’000
$’000
$’000
Balance at 1 July 2023
55,833
(49,257)
371
6,947
Total comprehensive income for the period
-
1,704
-
1,704
Profit attributable to members of the parent entity
-
-
-
-
Profit attributable to non-controlling interest
-
-
-
-
Adjustment for correction of
error1
-
(398)
-
(398)
Total comprehensive income for the period
55,833
(47,951)
371
8,253
Transactions with owners in their capacity as
owners:
55,833
(47,951)
371
8,253
Options exercised
22
119
-
-
119
Share-based payments
22
18
-
79
97
Balance at 30 June 2024, as restated1
55,970
(47,951)
450
8,469
Issued
capital
Accumulated
losses
Reserves
Total
Notes
$’000
21,336.19
$’000
$’000
Balance at 1 July 2024, as restated1
55,970
(47,951)
450
8,469
Total comprehensive income for the period
-
1,780
-
1,780
Profit attributable to members of the parent entity
-
-
-
-
Profit attributable to non-controlling interest
-
-
-
-
Total comprehensive income for the period
55,970
(46,169)
450
10,249
Transactions with owners in their capacity as
owners:
55,970
(46,169)
450
10,249
Options exercised
22
331
-
-
331
Share-based payments
22
17
-
126
143
Balance at 30 June 2025
56,318
(46,169)
576
10,724
The above should be read in conjunction with the accompanying notes.
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
1 The comparative information has been restated as a result of prior period adjustments discussed in Note
1.
37 | Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Financial Statements
for the year ended 30 June 2025
Jun-25
Jun-24
Notes
$’000
$’000
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers
20,118
15,178
Payments to suppliers and employees
(19,460)
(15,536)
Interest received
22
20
GST paid/ received
-
(62)
Finance cost
(58)
64
Proceeds from grants and research & development incentive
-
671
Net cash generated by operating activities
7
621
335
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from disposal of non-current assets
-
160
Purchase of property, plant and equipment
(478)
(299)
Net cash used in investing activities
(478)
(139)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from borrowings
388

315
Repayment of borrowings
(364)
(252)
Borrowing costs
(30)
(36)
Proceeds from exercise of options
331
137
Net cash generated by financing activities
325
164
Net increase in cash held
467
360
Cash and cash equivalents at beginning of period
2,408
2,048
Cash and cash equivalents at end of period
7
2,875
2,408
The above should be read in conjunction with the accompanying notes.
CONSOLIDATED STATEMENT OF CASH FLOWS
38 | Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Notes to the Financial Statements
as at 30 June 2025
Currency
NOTES TO THE FINANCIAL STATEMENTS
About these statements
The nature of the operations and principal activities
of the Group are described in the Directors Report,
which is not part of the financial statements.
The
financial
statements
are
presented
in
Australian dollars, which is the functional and
presentation currency of the Company.
Foreign currency transactions are translated into
functional
currency
using
the
exchange
rates
prevailing at the date of the transaction. Foreign
currency monetary items are translated at the year-
end
exchange
rate.
Non-monetary
items
measured at historical cost continue to be carried
at the exchange rate at the date of the transaction.
Non-monetary items measured at fair value are
reported at the exchange rate at the date when fair
values were determined.
Exchange differences arising on the translation of
monetary items are recognised in profit or loss,
except where deferred in equity as a qualifying
cash flow or net investment hedge.
Exchange differences arising on the translation of
non-monetary items are recognised directly in
other comprehensive income to the extent that the
underlying gain or loss is recognised in other
comprehensive income; otherwise the exchange
difference is recognised in profit or loss.
New standards and interpretations not yet
adopted
AASB 18 Presentation and Disclosure in Financial
Statements
This standard is applicable to annual reporting
periods beginning on or after 1 January 2027 and
early adoption is permitted. The standard replaces
IAS 1 'Presentation of Financial Statements', with
many
of
the
original
disclosure
requirements
retained and there will be no impact on the
recognition and measurement of items in the
financial statements. But the standard will affect
presentation
and
disclosure
in
the
financial
statements, including introducing five categories in
the
statement
of
profit
or
loss
and
other
comprehensive
income:
operating,
investing,
financing,
income
taxes
and
discontinued
operations.
The standard introduces two mandatory sub-totals
in the statement: 'Operating profit' and 'Profit
before financing and income taxes'. There are also
new disclosure requirements for 'management-
defined performance measures', such as earnings
before
interest,
taxes,
depreciation
and
amortisation ('EBITDA') or 'adjusted profit'. The
standard
provides
enhanced
guidance
on
grouping
of
information
(aggregation
and
disaggregation), including whether to present this
information in the primary financial statements or in
the notes.
The consolidated entity will adopt this standard
from 1 July 2027 and it is expected that there will
be a significant change to the layout of the
statement
of
profit
or
loss
and
other
comprehensive income.
Advanced Braking Technology Limited ("ABT" or
the "Group") is a for-profit company limited by
shares, incorporated and domiciled in Australia. Its
shares are publicly traded on the Australian Stock
Exchange ("ASX").
The financial statements were authorised for issue
in accordance with a resolution of the Directors on
28 August 2025.The Directors have the power to
amend and reissue the financial report.
39 | ©Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Notes to the Financial Statements
as at 30 June 2025
Key Estimates - Provision of Inventoryobsolescence
Key Estimates - Impairment
Key Estimates - Share based payment transactions
Key Estimates - Recoverability of Intangible Assets
Key Estimates - Lease Term and Option to Extend
Key Estimates - Depreciation
Principles of consolidation (cont'd)
Subsequent to initial recognition, non-controlling
interests are attributed their share of profit or loss
and each component of other comprehensive
income.
Non-controlling
interests
are
shown
separately
within
the
equity
section
of
the
statement of financial position and statement of
comprehensive income.
Critical accounting judgements, estimates and
judgements
Principles of consolidation
The Directors evaluate estimates and judgements
incorporated into the financial statements based
on historical knowledge and best available current
information.
Estimates
assume
a
reasonable
expectation of future events and are based on
current trends and economic data, obtained both
externally and within the Group.
Comparative figures
When
required
by
Accounting
Standards,
comparative
figures
have
been
adjusted
to
conform to changes in presentation for the current
financial year.
NOTES TO THE FINANCIAL STATEMENTS
The consolidated financial statements incorporate
all of the assets, liabilities and results of the parent
(Advanced Braking Technology Ltd) and all of the
subsidiaries. Subsidiaries are entities the parent
controls. The parent controls an entity when it is
exposed to, or has rights to, variable returns from
its involvement with the entity and has the ability to
affect those returns through its power over the
entity. A list of the subsidiaries is provided in Note
24.
The assets, liabilities and results of all subsidiaries
are fully consolidated into the financial statements
of the Group from the date on which control is
obtained by the Group. The consolidation of a
subsidiary is discontinued from the date that
control
ceases.
Intercompany
transactions,
balances
and
unrealised
gains
or
losses
on
transactions
between
group
entities
are
fully
eliminated on consolidation. Accounting policies of
subsidiaries have been changed and adjustments
made where necessary to ensure uniformity of the
accounting policies adopted by the Group.
Equity interests in a subsidiary not attributable,
directly or indirectly, to the Group are presented as
“non-controlling
interests”.
The
Group
initially
recognises
non-controlling
interests
that
are
present ownership interests in subsidiaries and are
entitled to a proportionate share of the subsidiary’s
net assets on liquidation at either fair value or at
the non-controlling interests’ proportionate share
of the subsidiary’s net assets.
New standards and interpretations not yet
adopted
Australian
Accounting
Standards
and
Interpretations that have recently been issued or
amended but are not yet mandatory, have not
been early adopted by the consolidated entity for
the annual reporting period ended 30 June 2025.
Further
information
regarding
the
Group’s
significant judgements and key estimates and
assumptions, being those where changes may
materially affect financial results and the carrying
amount of assets and liabilities to be reported in
the next reporting period, are embedded within the
following notes:
40 | ©Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Notes to the Financial Statements
NOTES TO
as at 30 June 2025
Goods and services tax
Other accounting policies
Fair value
Basis of preparation
Rounding of amounts
The group has applied the relief available to it
under ASIC Class Order 98/100 and accordingly,
amounts in the financial statements and Directors’
report have been rounded off to the nearest
$1,000.
The financial assets and liabilities included in
current asset and current liabilities in the Balance
Sheet position are carried at amounts approximate
net fair values or recoverable amount.
The financial statements have been prepared
under the historical cost convention.
Historical cost convention
These general purpose financial statements have
been
prepared
in
accordance
with
Australian
Accounting Standards and Interpretations issued
by the Australian Accounting Standards Board
('AASB')
and
the
Corporations
Act
2001,
as
appropriate for for-profit oriented entities. These
financial statements also comply with International
Financial
Reporting
Accounting
Standards
as
issued by the International Accounting Standards
Board ('IASB').
Material
and
other
accounting
policies
that
summarise the measurement basis used and are
relevant to understanding the financial statements
are provided throughout the notes to the financial
statements.
Revenues, expenses and assets are recognised net
of the amount of GST, except where the amount of
GST incurred is not recoverable from the Australian
Taxation Office (ATO).
Receivables and payables are stated inclusive of
GST receivable or payable. The net amount of GST
recoverable from,
or payable to, the
ATO is
included with other receivables or payables in the
statement of financial position.
Cash flows are presented on a gross basis. The
GST
components
of
cash
flows
arising
from
investing
or
financing
activities
which
are
recoverable from, or payable to, the ATO are
presented as operating cash flows included in
receipts from customers or payments to suppliers.
41 | ©Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Notes to Financial Statements
Correction of misstatement
Extracts (being only those line items affected) are disclosed below.
Jun-24
Jun-24
As
reported
Adjustments
Restated
$’000
$’000
$’000
1,704
-
1,704
Income tax expense
-
(398)
(398)
Profit after income tax
1,704
(398)
1,306
Jun-24
Jun-24
As
reported
Adjustments
Restated
$’000
$’000
$’000
R&D receivables
948
(398)
550
Total assets
948
(398)
550
Net assets
8,866
(398)
8,469
Issued capital
55,970
-
55,970
Reserves
450
-
450
Accumulated losses
(47,554)
(398)
(47,951)
Total Equity
8,866
(398)
8,469
NOTES TO THE FINANCIAL STATEMENTS
as at 30 June 2025
During the year ended 30 June 2025, the Group identified an mistatement related to the incorrect
offsetting of the R&D rebate against income tax expense resulting in the income tax expense for the
year ended 30 June 2024 being understated and R&D receivable overstated.
Consolidated statement of financial position at the end of the comparative period
RESTATEMENT OF COMPARATIVES
During the year, Advanced Braking Technology Limited and its 100% Australian controlled entities
have formed a tax consolidated group effective from 1 July 2023. Advanced Braking Technology Ltd
is the head entity of the consolidated group. There are no tax funding/ sharing agreements in place.
Consolidated Statement of profit or loss and other comprehensive income
Profit before income tax expense
42 | Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Notes to Financial Statements
1
SEGMENT REPORTING
Revenue by geographical region
Jun-25
Jun-24
$’000
$’000
Australia
10,261
9,513
Overseas / export
8,870
5,774
Total revenue
19,131
15,287
Assets by geographical region
Jun-25
Jun-24
$’000
$’000
Australia
14,803
12,431
Total assets
14,803
12,431
Intangible assets are treated as located in Australia.
2
REVENUE
NOTES TO THE FINANCIAL STATEMENTS
as at 30 June 2025
Under AASB 15, revenues are generated by the Group through the design, development,
manufacture and distribution of improved vehicle braking systems based on the Group’s patented
technology to customers worldwide.
The location of assets is disclosed below by geographical location of the assets:
The Group’s principal activities are research and development, commercialisation, manufacture and
installation of the Failsafe® wet sealed braking systems. The Group’s activities are predominantly
conducted in Australia and via distribution arrangements to other countries.
For management purposes, the Group is organised into one main operating segment. All the Group’s
activities are interrelated, and discrete financial information is reported to the Board (Chief Operating
Decision Maker) as a single segment. The financial results from this segment are equivalent to the
financial statements of the Group.
The performance of the operating segment is evaluated based on proﬁt before tax and net ﬁnance
costs (proﬁt before interest and tax) and is measured in accordance with the Group’s accounting
policies. The Group’s ﬁnancing requirements, ﬁnance income, ﬁnance costs and taxes are managed
on a group basis.
Revenue attributable to external customers is disclosed below, based on the location of the external
customer.
Revenue from one external customer amounted to $2.420 million (2024: $1.851, million), which
represents 12% of the Group’s total revenue for the year. No other single customer contributed 10%
or more of total Group revenue during the reporting period.
There have been no changes to the basis of segmentation or the measurement basis for segment
profit or loss since June 2024.
43 | Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Notes to Financial Statements
2
REVENUE (CONT'D)
Jun-25
Jun-24
Disaggregation of revenue
$’000
$’000
Product Sales
18,737
14,723
Other Sales1
394
564
19,131
15,287
1
Jun-25
Jun-24
Timing of revenue recognition
$’000
$’000
At a point of time
19,131
15,287
Transferred over time
-
-
19,131
15,287
Jun-25
Jun-24
INCOME FROM OTHER ACTIVITIES
$’000
$’000
- interest received
23
20
- net foreign exchange (loss) / gain
(8)
(5)
- Loss from sale of fixed asset
-
(12)
- R&D tax incentive
726
1139
- Government grant
-
25
- Other income
2
1
Total income from other activities
743
1,168
RECOGNITION AND MEASUREMENT
Government grants
NOTES TO THE FINANCIAL STATEMENTS
as at 30 June 2025
Other Sales includes on and off-site installations and freight.
For sales of products, revenue is recognised at a point in time when control of the products has
transferred to the customer, which is usually when the products are delivered to the customers.
Volume discounts could be provided with the sale of these items depending on the volume of
aggregate sales made to eligible customers. Revenue from on and off-site repair and installation
service is recognised over time as the services are rendered based on either a fixed price or a
variable price depending on the nature of repair and is recognised in the accounting period in which
the services are rendered.
Other income
Interest revenue is recognised using the effective interest rate method.
Government grants are recognised at fair value where there is reasonable assurance that the grant
will be received, and all grant conditions will be met. Grants relating to expense items are
recognised as income over the periods necessary to match the grant to the costs they are
compensating. Grants relating to assets are credited to deferred income at fair value and are
credited to income over the expected useful life of the asset.
R&D Tax incentives have been accounted for as government grants and are recognised on an
accruals basis.
44 | Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Notes to Financial Statements
3
PROFIT / (LOSS) BEFORE INCOME TAX
Profit / (Loss) before income tax has been determined after deducting the following expenses:
Jun-25
Jun-24
$’000
$’000
Consulting fees
- marketing
220
145
- secretrial
66
47
- tax
22
31
- training
31
54
- ISO
42
25
- recruitment
123
75
- market research
38
50
- IT
1
-
-risk management
21
-
-admin
15
-
-HR
10
-
589
427
Depreciation of non-current assets
- plant and equipment
56
60
- motor vehicles
25
13
- office equipment and furniture
94
75
- leasehold improvements
43
42
- software
38
15
- right of use assets
123
118
379
323
Jun-25
Jun-24
$’000
$’000
Other expenses
- shareholder and listing fee
74
60
- provisions
26
(64)
- office, insurance and admin
212
121
312
117
NOTES TO THE FINANCIAL STATEMENTS
as at 30 June 2025
45 | Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Notes to Financial Statements
4
INCOME TAX EXPENSE
Jun-25
Jun-24
Restated
a. The components of tax expense comprise:
$’000
$’000
Current income tax
726

398

Deferred tax
(726)
-
Under/over provision from prior years
(105)

(35)

Recoupment of prior year tax losses not previously recognised
105

Income tax
-
398

b.
445
426
Add/(less) tax effect of:
- Non-allowable items
459
565
- Recognition of revenue losses not previously recognised
(726)
-
- Revenue losses and other deferred tax balances not recognised
109
(274)
- Recoupment of prior year tax losses not previously recognised
(105)
(35)
- Non-assessable items
(182)
(284)
Income tax
-
398

c. Deferred tax recognised as 25% ( 2024:25%) 1
Deferred tax liabilities:
Intangibles - IP
(88)
(104)
Prepayments
(74)
(110)
Right of use asset
(243)
(264)
Deferred tax assets:
Carry forward revenue losses
- Current
105
-
- Non current
621
-
Intangible assets
91
74
Provisions & Accruals
30
-
Interest bearing liabilities
273
286
Other
11
118
Net deferred tax
726

-
NOTES TO THE FINANCIAL STATEMENTS
The prima facie tax benefit on loss from ordinary activities before income tax is reconciled to the
income tax as follows:
Prima facie tax benefit on loss from ordinary activities before
income tax at 25% (2024:25%) from ordinary operations:
as at 30 June 2025
46 | Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Notes to Financial Statements
4
INCOME TAX EXPENSE (CONT'D)
Jun-25
Jun-24
d. Unrecognised deferred tax assets at 25% (2024:25%):1
$’000
$’000
Carry forward revenue losses
236
1,198
Carry forward capital losses
173
91
Provisions and accruals
107
55
Other
51
61
Intangible assets
-
4
Capital raising costs
-
1
567

1,410

e. The tax benefits of the above Deferred Tax Assets will only be obtained if:
(b) the company continues to comply with the conditions for deductibility imposed by law; and
(c) no changes in income tax legislation adversely affect the company in utilising the benefits.
f.
Income Tax
The income tax expense / (revenue) for the year comprises current income tax expense / (income)
and deferred tax expense / (income).
Current income tax expense charged to profit or loss is the tax payable on taxable income. Current
tax liabilities / (assets) are measured at the amounts expected to be paid to / (recovered from) the
relevant taxation authority.
Deferred income tax expense reflects movements in deferred tax asset and deferred tax liability
balances during the year as well unused tax losses. Current and deferred income tax expense /
(income) is charged or credited outside profit or loss when the tax relates to items that are
recognised outside profit or loss.
Note 1: The corporate tax rate for eligible companies is 25% providing certain turnover thresholds
and other criteria are met. All other companies are taxed at 30%. Deferred tax assets and liabilities
are required to be measured at the tax rate that is expected to apply in the future income year when
the asset is realised or the liability is settled. The Directors have determined that the deferred tax
balances be measured at the tax rates stated.
(a) the company derives future assessable income of a nature and of an amount sufficient to enable
the benefits to be utilised;
NOTES TO THE FINANCIAL STATEMENTS
as at 30 June 2025
The tests for the recoverability of tax loss DTAs have been met, supporting their recognition.
Advanced Braking Technology Limited at 30 June 2025, adopted the stand-alone taxpayer method
for measuring the current and deferred tax amounts.
Note 2:
For the purpose of income taxation, Advanced Braking Technology Limited and its 100%
Australian controlled entities have formed a tax consolidated group effective from 1 July 2023.
Advanced Braking Technology Ltd is the head entity of the consolidated group. There are no tax
funding/ sharing agreements in place.
47 | Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Notes to Financial Statements
4
INCOME TAX EXPENSE (CONT'D)
5
EARNINGS PER SHARE (EPS)
Jun-25
Jun-24
Restated
Basic earnings per share
$’000
$’000
Profit attributable to ordinary equity holders of the parent
1,780
1,306
Jun-25
Jun-24
Number
Number
384,339,177
380,410,791
22,497,916
24,037,382
Basic profit per share (cents)
0.463
0.343
Diluted profit per share (cents)
0.438
0.323
NOTES TO THE FINANCIAL STATEMENTS
as at 30 June 2025
Weighted average number of ordinary shares used in calculation of
diluted EPS
Weighted average number of ordinary shares used in calculation of
basic EPS
Deferred tax assets and liabilities are calculated at the tax rates that are expected to apply to the
period when the asset is realised or the liability is settled and their measurement also reflects the
manner in which management expects to recover or settle the carrying amount of the related asset
or liability.
Deferred tax assets relating to temporary differences and unused tax losses are recognised only to
the extent that it is probable that future taxable profit will be available against which the benefits of
the deferred tax asset can be utilised.
Where temporary differences exist in relation to investments in subsidiaries, branches, associates,
and joint ventures, deferred tax assets and liabilities are not recognised where the timing of the
reversal of the temporary difference can be controlled, and it is not probable that the reversal will
occur in the foreseeable future.
Current tax assets and liabilities are offset where a legally enforceable right of set-off exists and it is
intended that net settlement or simultaneous realisation and settlement of the respective asset and
liability will occur. Deferred tax assets and liabilities are offset where: (a) a legally enforceable right of
set-off exists; and (b) the deferred tax assets and liabilities relate to income taxes levied by the same
taxation authority on either the same taxable entity or different taxable entities where it is intended
that net settlement or simultaneous realisation and settlement of the respective asset and liability
will occur in future periods in which significant amounts of deferred tax assets or liabilities are
expected to be recovered or settled.
48 | Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Notes to Financial Statements
6
Overview
The Company and its subsidiary (“Group”) have exposure to the risks below from financial instruments:
(i)
Market risk
(ii) Liquidity risk
(iii) Credit risk
(i)
Market risk
Interest rate risk
Jun-25
Jun-24
Possible movements before tax:
$’000
$’000
1.5% (2024: 3.6%) per annum
43
87
-1.5% (2024: -3.6%) per annum
43
(87)
The main risks arising from the Group’s financial instruments are market risk, including interest rate risk,
liquidity risk, credit risk and foreign currency risk. The Directors review and agree policy for managing
each of these risks and they are summarised as follows:
The Group is exposed to interest rate risk on its outstanding borrowings and short-term cash deposits
from the possibility that changes in interest rates will affect future cash flows or the fair value of fixed
interest rate financial instruments. Interest rate risk is managed as part of the portfolio risk
management strategy.
The Group's exposure to market interest rates relates primarily to the Group's cash and term deposits
with financial institutions. Borrowings obtained at fixed rates expose the consolidated entity to fair
value risk, our interest rate for insurance premium for FY25 is 3.98%. Refer to Note 13 for futher details.
The sensitivity analysis below is based on the interest rate risk exposure in existence at the reporting
date. The 1.5% (2024: 3.6%) interest rate sensitivity is based on reasonable possible changes, over a
financial year, using an observed range of historical Australian Reserve Bank rate movement over the
last two years.
NOTES TO THE FINANCIAL STATEMENTS
as at 30 June 2025
FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES
The Board of Directors have overall responsibility for the establishment and oversight of the Group's
risk management framework. The Audit & Risk Committee, established by the Directors, is responsible
for development and monitoring of risk management strategy, policy and key risk parameters. The
Group’s principal financial instruments comprise cash, interest bearing deposits, lease and a trade
finance facility. The purpose of these financial instruments is to finance the growth of the Group and to
provide working capital for the Group’s operations.
The Group has various other financial instruments including trade debtors and trade creditors which
arise directly out of its operations and through the negotiation of trading terms with customers and
suppliers. During the period under review, the Group has not traded in financial instruments. However,
it is Group policy to hedge foreign currency against fluctuations where appropriate, which may result in
exchange losses or gains. The company do not have any hedges given the low exposure.
49 | ©2025 Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Notes to Financial Statements
6
(ii) Liquidity risk
2024
Weighted
Average
interest
rate
1 year or
less
1 - 5 years
Over 5
years
Total
Cash and equivalents
1.15%
2,408
-
-
2,408
Trade receivables
n/a
3,000
-
-
3,000
Other assets ( R&D tax incentives )
n/a
550
-
-
550
Total Otherl Assets
5,958
-
-
5,958
Trade payables and other liabilities
n/a
1,957
-
-
1,957
Lease liabilities
8.41%
116
527
502
1,145
Insurance premium funding
4.59%
286
-
-
286
Total Other Liabilities
2,359
527
502
3,388
Net exposure as at 30 June 2024
3,599
(527)
(502)
2,570
NOTES TO THE FINANCIAL STATEMENTS
FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (CONT'D)
as at 30 June 2025
The Group’s objective is to fund new product development and commercialisation through
shareholder equity, government grants, R&D tax incentives and bank funding where available.
The Group manages liquidity risk by monitoring of regular cash flow forecasts, which reflect
management’s expectations in respect of future turnover,development of new markets and products,
capital investment and the settlement of financial assets and liabilities, taking into the Group's short
and long-term obligations, cash position and forecast liability position to maintain appropriate liquidity
levels.
Advanced Braking Pty Ltd has a trade finance facility agreement with NAB which it may borrow up to
$1.500m. The amount borrowed at any time varies depending on working capital requirements and is
repayable up to 120 days from drawn date. Borrowings are secured by a general security agreement
over the assets of Advanced Braking Pty Ltd and are guaranteed by Advanced Braking Technology
Ltd, which includes all present and future assets, including accounts receivable, inventory, plant &
equipment, intellectual property, and contractual rights.
At 30 June 2025, the Group has a total of $2.88m of cash at its disposal (2024: $2.41m). The remaining
contractual maturities of the Group's financial assets and liabilities are:
50 | ©2025 Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Notes to Financial Statements
6
2025
Weighted
Average
interest
rate
1 year or
less
1 - 5 years
Over 5
years
Total
Cash and equivalents
1.17%
2,875
-
- 2,875
Trade receivables
n/a 3,058
-
- 3,058
Other assets ( R&D tax incentives )
n/a 550
-
- 550
Total Financial Assets
6,484
-
- 6,484
Trade payables and other liabilities
n/a 2,281
-
- 2,281
Lease liabilities
8.41%
76
528 489 1,092
Insurance premium funding
3.98%
310
-
- 310
Total Financial Liabilities
2,667 528 489
3,683
Net exposure as at 30 June 2025
3,816 (528) (489)
2,801
Borrowing Facilities
At June 2025 the Group had the following borrowing facilities in place.
Facility Type
Facility
Limit
Amount
Used
Amount
Unused
Insurance premium funding
388

310

Trade Finance Facility
1,500

1,500

(iii) Credit risk
as at 30 June 2025
The Group has no significant concentration of credit risk with respect to any single counterparty or
group of counterparties other than those receivables specifically provided for and mentioned within
Note 8. The class of assets described as "trade and other receivables" is considered to be the main
source of credit risk related to the Group.
NOTES TO THE FINANCIAL STATEMENTS
FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (CONT'D)
On a geographical basis, the Group has significant credit risk exposures in Australia given the
substantial operations in that region. The Group’s exposure to credit risk for receivables at the end of
the reporting period in that regions is as follows:
51 | ©2025 Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Notes to Financial Statements
6
Jun-25
Jun-24
CONSOLIDATED
$’000
$’000
Australia
3,058 3,000
Jun-25
Jun-24
7
CASH AND CASH EQUIVALENTS
$’000
$’000
Cash at bank
2,875 2,408
RECOGNITION AND MEASUREMENT
The Group writes off a trade receivable when there is information indicating that the debtor is in severe
financial difficulty and there is no realistic prospect of recovery; for example, when the debtor has been
placed under liquidation or has entered into bankruptcy proceedings, or when the trade receivables
are over 12 months past due, whichever occurs earlier. None of the trade receivables that have been
written off are subject to enforcement activities.
The Group applies the simplified approach to providing for expected credit losses prescribed by AASB
9, which permits the use of the lifetime expected loss provision for all trade receivables. To measure
the expected credit losses, trade receivables have been grouped based on shared credit risk
characteristics and the days past due, of which the identified losses was immaterial. On the above
basis, a provision for expected credit losses as at 30 June 2025 is $0k.(2024:$20K)
To manage credit risk, the Group has procedures covering the application for credit approvals,
proactive monitoring of exposures against set approvals. As part of these processes, the credit
exposures with all counterparties are regularly monitored and assessed on a timely basis.
There has been no change in the estimation techniques used or significant assumptions made during
the current reporting period.
The effective interest rate on short-term bank deposits was 4.49% (2024: 4.72%) and can mature with 30
days of notice.
Cash and cash equivalents include cash on hand, deposits available on demand with banks, other short-
term highly liquid investments, net of any bank overdrafts. Bank overdrafts are reported within short-
term borrowings in current liabilities in the statement of financial position.
The carrying values approximate their fair value as they are short term in nature or are receivable on
demand.
NOTES TO THE FINANCIAL STATEMENTS
as at 30 June 2025
FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (CONT'D)
52 | ©2025 Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Notes to Financial Statements
7
CASH AND CASH EQUIVALENTS ( CONT'D )
Jun-25
Jun-24
$’000
$’000
Profit / (Loss) after income tax
1,780
1,704
(Profit) / loss on disposal of property, plant and equipment
-
12
Share-based payment expense
143
79
Non-cash flows adjustments for:
Depreciation and impairment
379
323
Amortisation of IP
64
64
Other
-
-
Changes in assets and liabilities
(Increase) / decrease in trade and other receivable
(59)
(1,085)
(Increase) / decrease in inventories
(446)
(190)
(Increase) / decrease in other current assets
(1,323)
(471)
Increase / (decrease) in trade and other payables
68
(110)
Increase / (decrease) in provisions
14
9
Cash inflows / (outflows) from operations
621
335
(b) Non-cash finance and investing activities
2025
Reconciliation of cash
Jun-25
Jun-24
Cash at bank
2,875
2,408
2024
8
TRADE & OTHER RECEIVABLES
Jun-25
Jun-24
Current
$’000
$’000
Trade debtors
3,058
3,020
Allowance for credit loss
-
(20)
Total current
3,058
3,000
Jun-25
Jun-24
Aging of Trade debtors
$’000
$’000
Not overdue
3,056
3,020
0 to 3 months overdue
2
-
3,058
3,020
Cash at the end of the financial year as shown in the Statement of Cash Flows is reconciled to items in
the Statement of Financial Position as follows:
Reconciliation of cash flow from operations with profit / (loss) after
NOTES TO THE FINANCIAL STATEMENTS
as at 30 June 2025
In March 2024, in pursant to the Employee Share Plan, 321,426 ordinary shares were granted to eligible
employees. Refer to Note 23 for further details.
In March 2025, in pursant to the Employee Share Plan, 193,188 ordinary shares were granted to eligible
employees at 0.088 for $17,000. Refer to Note 23 for further details.
53 | ©2025 Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Notes to Financial Statements
8
TRADE & OTHER RECEIVABLES (CONT'D)
RECOGNITION AND MEASUREMENT
9
TRADE & OTHER PAYABLES
$’000
$’000
Trade creditors
2,033
1,855
Other payables
111
(35)
Accrued expenses
137
137
2,281
1,957
RECOGNITION AND MEASUREMENT
Jun-25
Jun-24
10 INVENTORIES
$’000
$’000
Finished Goods
-
-
Raw materials
3,988
3,679
Work in progress
140
4
Less: provision for obsolescence
(68)
(69)
4,060
3,614
RECOGNITION AND MEASUREMENT
Trade and other receivables are recognised on initial recognition at fair value. Subsequent to intial
recognition, trade receivables are measured, less an allowance for expected credit loss. Other
receivables are non interest bearing.
NOTES TO THE FINANCIAL STATEMENTS
as at 30 June 2025
The collectability of trade and other receivables is assessed continuously. At the reporting date,
specific allowances are made for any expected credit losses based on a review of all outstanding
amounts at reporting period-end. Individual receivables are written off when management deems
them unrecoverable. The net carrying amount of trade and other receivables approximates their fair
values.
These amounts represent liabilities for goods and services provided to the Group prior to the end of
the financial period which are unpaid. The amounts are unsecured and are usually paid within 30 days
of recognition.
For trade and other payables, the fair value is approximate to their carrying value amount, due to their
short-term nature.
Inventories are measured at the lower of cost and net realisable value. The cost of manufactured
products includes direct materials. Costs are assigned to inventory on hand by the method most
appropriate to each particular class of inventory, with the majority being valued on a weighted average
basis.
Net realisable value represents the estimated selling price less all estimated costs of completion and
costs to be incurred in marketing, selling and distribution.
As at 30 June 2025, trade receivables of $3.056m (2024: $3.020m) are not impaired. The majority of
these receivables were less than 60 days overdue.
54 | ©2025 Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Notes to Financial Statements
10 INVENTORIES (CONT'D)
Provision of inventory obsolescence
Key estimate - Recoverability of inventory
Jun-25
Jun-24
Restated
11 OTHER CURRENT ASSETS
$’000
$’000
Prepayments
1,072
475
Bank guarantee term deposit
63
63
Staff advances
1
-
Other assets - R&D tax incentive1
550
550
1,685
1,088
1
12 LEASES
RECOGNITION AND MEASUREMENT
Key estimate - Lease Term and Option to Extend
NOTES TO THE FINANCIAL STATEMENTS
as at 30 June 2025
The decision on whether or not the options to extend are reasonably going to be exercised is a key
management judgement that the entity will make. The Group determines the likeliness to exercise
looking at the various factors such as which assets are strategic and which are key to future strategy of
the entity.
The Group has signed a lease on a property on 8 March 2023. The lease will run for a 5 year period,
with an reasonable certainty to renew for a further 5 year, on a 4 month rent free basis but will be
liable for outgoings from the start of the lease.
The Company recognises the right of use asset and liability on the balance sheet from the date of
commencement of the lease. Right-of-use assets are depreciated using the straight line method from
the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end
of the lease term.
Lease liabilities include net present value of variable lease payments that are based on index or rate.
The Group’s weighted average incremental borrowing rate applied to the lease liabilities was 8.41%.
Lease payments are allocated between principal and finance cost. The finance cost is charged to profit
or loss over the lease period so as to produce a constant periodic rate of interest on the remaining
balance of the liability for each period.
Provisions can be recognised for all components of inventories, including raw materials, work in
progress and finished goods.
The Group considers a number of factors when determining the appropriate level of inventory
provisioning, including regulatory approvals and future demand for Group's products.
R&D rebate remains outstanding as at 30 June 2025.
55 | ©2025 Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Notes to Financial Statements
12 LEASES ( CONT'D)
Jun-25
Jun-24
Leases recognised in the Statement of Financial Position
$’000
$’000
Right of Use
1,459
1,416
Accumulated depreciation
(485)
(361)
974
1,055
Jun-25
Jun-24
Leases recognised in the profit and loss
$’000
$’000
Depreciation charge related to right-of-use assets
123
118
Interest expense on lease liabilities (under finance cost)
90
94
213
212
Jun-25
Jun-24
Total cash outflows for leases
$’000
$’000
- Financing cash outflow (principal repaid)
-
-
Operating cash outflow (finance costs)
90
94
184
177
Jun-25
Jun-24
Lease Liability
$’000
$’000
Current
76
116
Non Current
1,016
1,029
Total
1,092
1,145
13 INTEREST BEARING LIABILITIES
Jun-25
Jun-24
Current
$’000
$’000
Insurance premium funding
310
286
Total current
310
286
14 PROVISIONS
Current
$’000
$’000
Employee entitlements
274
471
Warranty
96
71
370
542
Employee entitlements
23
31
Make good
2
1
25
32
as at 30 June 2025
Total current
Non-current
Total non-current
NOTES TO THE FINANCIAL STATEMENTS
The insurance premium funding is an unsecured finance arrangement for the Company’s annual
insurance premiums with Momentum Premium. Repayment will be made through 10 monthly direct
debit installments of $38,765.10 each. The amount outstanding for the remaining period, being 8
months is $310,120.80. The interest rate is a flat rate of 3.98% pa. (FY24: 4.59%)
56 | ©2025 Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Notes to Financial Statements
14 PROVISIONS (CONT'D)
Warranties Make good
Total
Consolidated group
$000
$000
$000
As at 1 July 2023
141
25
166
Additional provisions
-
-
-
Amounts utilised
-
-
-
Unused amounts reversed
(70)
(24)
(94)
Balance as at June 2024
71
1
72
Consolidated group
$000
$000
$000
As at 1 July 2024
71
1
72
Additional provisions
25
1
26
Amounts utilised
-
-
-
Unused amounts reversed
-
-
-
Balance as at June 2025
96
2
98
Lease make good provision
Short-term employee benefits
NOTES TO THE FINANCIAL STATEMENTS
as at 30 June 2025
A provision has been made for the present value of anticipated costs for future restoration of leased
premises. The provision includes future cost estimates associated with closure of the premises. The
calculation of this provision requires assumptions such as application of closure dates and cost
estimates. The provision recognised for each site is periodically reviewed and updated based on the
facts and circumstances available at the time. Changes to the estimated future costs for sites are
recognised in the statement of financial position by adjusting the asset and the provision. Reductions in
the provision that exceed the carrying amount of the asset will be recognised in profit or loss.
The Group provides for a provision for warranties for general repairs for 1 year after its products are
sold. The provision for warranties represents the liability for potential warranty claims against the
Group. If a product fails during the period there is a risk that the product may have to be replaced
under warranty, free of charge.
Employee entitlement provisions
Short-term employee benefits are benefits (other than termination benefits) that are expected to be
settled wholly before 12 months after the end of the annual reporting period in which the employees
render the related service, including wages, salaries and sick leave. Short-term employee benefits are
measured at the (undiscounted) amounts expected to be paid when the obligation is settled.
57 | ©2025 Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Notes to Financial Statements
14
Short-term employee benefits
Other long-term employee benefits
NOTES TO THE FINANCIAL STATEMENTS
as at 30 June 2025
Provision is made for employees’ long service leave and annual leave entitlements not expected to be
settled wholly within 12 months after the end of the annual reporting period in which the employees
render the related service.
Other long-term employee benefits are measured at the present value of the expected future
payments to be made to employees. Expected future payments incorporate anticipated future wage
and salary levels, durations of service and employee departures and are discounted at rates
determined by reference to market yields at the end of the reporting period on corporate bonds that
have maturity dates that approximate the terms of the obligations. Any re-measurements for changes
in assumptions of obligations for other long-term employee benefits are recognised in profit or loss in
the periods in which the changes occur.
The Group’s obligations for long-term employee benefits are presented as non-current provisions in its
statement of financial position, except where the Group does not have right to defer settlement for at
least 12 months after the end of the reporting period, in which case the obligations are presented as
current provisions.
The Group’s obligations for short-term employee benefits such as wages, salaries and sick leave are
recognised as a part of current trade and other payables in the statement of financial position. The
Group’s obligations for employees’ annual leave and long service leave entitlements are recognised as
provisions in the statement of financial position.
PROVISIONS ( CONT'D)
58 | ©2025 Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Notes to Financial Statements
15 PROPERTY, PLANT AND EQUIPMENT
Plant &
Equipment
Motor
Vehicles
Office
Equipment
& Furniture
Interest Software
Total
COST
At 1 July 2023
365
1,039
45
201
-
115
1,765
Additions
62
81
99
55
-
9
306
Write off
-
-
-
-
-
-
-
Disposals
-
(235)
-
(13)
-
-
(248)
At 30 June 2024
427
885
144
243
-
124
1,823
Additions
-
90
87
157
14
10
358
Disposals
-
-
-
(3)
-
-
(3)
At 30 June 2025
427
975
231
397
14
134
2,178
Depreciation and Impairment
At 1 July 2023
(6)
(672)
(44)
(79)
-
(82)
(883)
Write off
-
-
-
-
-
-
-
Disposals
-
64
-
7
-
-
71
Depreciation expense
(42)
(60)
(13)
(75)
-
(15)
(205)
At 30 June 2024
(48)
(668)
(57)
(147)
-
(97) (1,017)
Write off
#
-
-
-
-
-
-
Disposals
-
-
-
3
-
-
3
Depreciation expense
(43)
(56)
(25)
(94)
-
(38)
(256)
At 30 June 2025
(91)
(724)
(82)
(238)
-
(135) (1,269)
Net book value
At 30 June 2024
379

217

-
27
805

At 30 June 2025
336
251

149

159

-
909
Cost
427
975
231
397
14
134
2,178

Accumulated depreciation
(91)
(724)
(82)
(238)
-
(134)
(1,269)
336
251
159
14
-
760
RECOGNITION AND MEASUREMENT
NOTES TO THE FINANCIAL STATEMENTS
as at 30 June 2025
Leasehold
improvements
Plant and equipment is measured on the cost basis and therefore carried at cost less accumulated
depreciation and any accumulated impairment.
In the event the carrying amount of plant and equipment is greater than the estimated recoverable amount,
the carrying amount is written down immediately to the estimated recoverable amount and impairment
losses are recognised either in profit or loss or as a revaluation decrease if the impairment losses relate to a
revalued asset. A formal assessment of recoverable amount is made when impairment indicators are
present.
Gains and losses on disposals are determined by comparing proceeds with the carrying amount. These
gains and losses are included in profit and loss.
Carrying amount at 30 June
2025
59 | ©2025 Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Notes to Financial Statements
15 PROPERTY, PLANT AND EQUIPMENT (CONT'D)
Key estimate - Impairment of plant and equipment
Depreciation
16 INTANGIBLE ASSETS
RECOGNITION AND MEASUREMENT
Jun-25 Jun-24
INTANGIBLE ASSETS
$’000
$’000
Wet Brake technology
2,984
2,984
Less : Accumulated amortisation
(2,632)
(2,568)
Distribution rights
119
-
Less : Accumulated amortisation
-
-
Carrying amount at the end of year
471
416
Leasehold improvements are depreciated over the shorter of either the unexpired period of the lease or the
estimated useful lives of the improvements.
Intangible assets are recognised at cost and amortised on a straight-line basis over their estimated useful
lives. The useful life and amortisation method are reviewed annually.
The Group holds Wet Brake technology, assigned from Safe Effect Technologies International Ltd on 27
June 2006, with patents running through to December 2030. In the current year, the Group also recognised
distribution rights for Brake IQ.
Research expenditure is expensed as incurred. Development expenditure is capitalised only when the Group
can demonstrate the technical feasibility, intention, and ability to complete and use or sell the asset, the
probability of generating future economic benefits, the availability of resources to complete the
development, and the ability to measure costs reliably. Capitalised development costs are amortised over
their expected useful lives commencing from the start of commercial sales.
NOTES TO THE FINANCIAL STATEMENTS
as at 30 June 2025
There were no indicators of impairment or reversal of impairment in the year ended 30 June 2025, with
remaining assets expected to be recovered in full from future business activities.
The depreciable amount of all fixed assets including buildings and capitalised lease assets, is depreciated
on a straight-line basis over the estimated useful life as follows.
Office equipment and furniture 2-10 years
Software 3-5 years
Leasehold improvements 1-10 years
The carrying amount of plant and equipment is reviewed periodically by Directors to ensure it is not in
excess of the recoverable amount from these assets. The recoverable amount is assessed on the basis of
the expected net cash flows that will be received from the asset’s employment and subsequent disposal.
The expected net cash flows have been discounted to their present values in determining recoverable
amounts.
Plant and equipment
2-10 years
Motor vehicles
3-15 years
60 | ©2025 Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Notes to Financial Statements
16 INTANGIBLE ASSETS (CONT'D)
Movements
Wet
Brake
Rights
Total
Opening balance
416
-
416
Additions
-
119
119
Amortisation expense
(64)
-
(64)
Carrying amount at the end of year
352
119
471
Intangible Assets: Distribution Agreement
During the year, the Group capitalised an intangible asset arising from an exclusive global distribution
agreement, recognised at cost in accordance with AASB 138. The asset has a finite useful life and is
amortised over the period in which the expected economic benefits are consumed. No impairment was
identified at 30 June 2025.
NOTES TO THE FINANCIAL STATEMENTS
as at 30 June 2025
61 | ©2025 Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Notes to the Financial Statements
17 CAPITAL MANAGEMENT
The working capital positions of the Group at 30 June were as follows:
Jun-25
Jun-24
$’000
$’000
Current assets
7,664

6,939

Less current liabilities
(3,037)

(2,901)

Working Capital position
4,626
4,038
18
$000's
At 1 July 2023
379,466,944
55,833
321,426
18
Options exercised at $0.042
2,979,054
119
At 30 June 2024
382,767,424
55,970
At 1 July 2024
382,767,424
55,970
193,188
17
Options exercised at $0.042
2,979,055
119
Options exercised at $0.062
3,536,527
212
At 30 June 2025
389,476,194
56,318
1
2 A Booth and A Godbeer exercised their options during the year. Refer to Note 22.
Ordinary shares are fully paid, carry one vote per share, and have the right to receive dividends.
NOTES TO THE FINANCIAL STATEMENTS
as at 30 June 2025
Management controls the capital of the Group in order to maintain a good debt to equity ratio, provide the
Shareholders with adequate returns and ensure that the Group can fund its operations and continue as a going
concern.
The Group’s debt and capital includes ordinary share capital and financial liabilities, supported by financial
assets. Advanced Braking Pty Ltd has a trade finance facility with NAB under which it may borrow up to
$1.500m. As at 30 June 2025, the full amount remains unused. Refer to Note 6 (iii) for further details.
There are no externally imposed capital covenants or capital requirements.
Management effectively manages the Group’s capital by assessing the Group’s financial risks and adjusting its
capital structure in response to changes in these risks and in the market. These responses include the
management of debt levels, distributions to Shareholders and share issues.
Management aims to maintain a capital structure that ensures the lowest cost of capital available to the entity.
The Group's capital risk management focus is the management of its current working capital position to meet
anticipated operating requirements.
ISSUED CAPITAL
Ordinary Shares
During the year, eligible employees are offered shares in the Company to the value of $1,000 per annum under
the terms of the Company’s Employee Share Plan. Refer to Note 22.
Employee share plan issued at $0.0601
Employee share plan issued at $0.0881
62 | ©2025 Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Notes to the Financial Statements
18
$000's
At 1 July 2024
-
-
Shares acquired for employee incentive security plan
8,379,691
-
At 30 June 2025
8,379,691
Number of
Options at at
30 June 2024
Exercised
Expired
Number of
Options at at
30 June 2025
A Booth1
8,937,164
(8,937,164)
-
-
A Godbeer2
5,958,109
(5,958,109)
-
-
14,895,273
(14,895,273)
-
-
1
2
Jun-25
Jun-24
19
$’000
$’000
Option reserve
64
64
Share based payment reserve
512
386
576
450
Jun-25
Jun-24
20 ACCUMULATED LOSSES
$’000
$’000
(47,950)
(49,257)
1,780
1,306
(46,169)
(47,951)
Jun-25
Jun-24
21 KEY MANGEMENT PERSONNEL COMPENSATION
Short-term employee benefits
913,963
1,054,000
Post-employment benefits
82,425
71,729
Share-based payments
126,197
79,000
Total KMP compensation
1,122,585
1,204,729
Short-term employee benefits
Post-employment benefits
These amounts are the superannuation contributions made during the year.
Net profit attributable to members of the parent entity
RESERVE
ISSUED CAPITAL (CONT'D)
Unlisted Options
Total reserves at the end of the financial period / year
Accumulated losses at the beginning of the financial period / year
These amounts include fees and benefits paid to the Non-Executive Chair and Non-Executive Directors as well
as all salary, paid leave benefits, fringe benefits and cash bonuses awarded to Executive Directors and other
KMP.
A Booth exercised his options during the year. Refer to note 22.
A Godbeer exercised her options during the year. Refer to note 22.
Accumulated losses at the end of the financial period / year
as at 30 June 2025
NOTES TO THE FINANCIAL STATEMENTS
Treasury Shares
During the year, the Company advanced limited recourse loans to the value of $502,781 to two employees to
fund the exercise of 8,379,691 options into ordinary shares under the Employee Incentive Securities Plan. Refer
to Note 22
63 | ©2025 Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Notes to the Financial Statements
Jun-25
Jun-24
22
$’000
$’000
Share based payment expense
143
97
RECOGNITION AND MEASUREMENT
Options
On 1 October 2021, the Company granted 5,958,109 unlisted options to employee and key management
personnel, Mr Andrew Booth pursuant to the Company’s share option plan approved by shareholders at the
Company’s AGM held 27 November 2019. The unlisted options were subsequently issued on 8 November 2021.
The terms of the options are:
The fair value of options is determined using the Black-Scholes pricing model. The fair value of performance
righhts is determined based on share price based on grant data and Monte Carlo. Measurement inputs include
share price on measurement date, exercise price of the instrument, expected volatility (based on historic
volatility adjusted for changes expected due to publicly available information, if any), weighted average
expected life of the instruments (based on historical experience and general option holder behaviour),
expected dividends, and the risk-free interest rate (based on government bonds).
The number of shares and options expected to vest is reviewed and adjusted at the end of each reporting
period such that the amount recognised for services received as consideration for the equity instruments
granted is based on the number of equity instruments that eventually vest.
Key estimates - share based payment
The Group operates an employee share/option ownership plan. Share-based payments to employees and
Directors are measured at the fair value of the instruments issued and amortised over the vesting periods.
SHARE-BASED PAYMENT EXPENSE
There were no cancellations or modifications to options in the 2024 or 2025 financial years. Share-based
payment plans are explained below:
On 27 November 2019, shareholders approved the adoption of the ABT Share Option Plan. The terms of the
options are set out in the Directors' report. During the year ended 30 June 2025, there were no new issues of
options. The share based payment expenses excluding Employee Share Plan recognised as at 30 June 2025
was $125,000 ( 2024: $79,000)
NOTES TO THE FINANCIAL STATEMENTS
as at 30 June 2025
Employee share plan
The Group provides benefits to its employees in the form of share based payments in which employees render
services for ordinary shares in the Group. Under the plan, each eligible employee is offered fully paid ordinary
shares to a maximum value of $1,000 per annum.
193,188 ordinary shares (2024: 321,426) were issued in March 2025 at a market value at the date of issue of
$17,000 (2024: $18,000).
64 | ©2025 Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Notes to the Financial Statements
22
Number
Exercise
price
Expiry date
1,489,527
$0.04
30-Jun-24
1,489,527
$0.04
30-Jun-24
2,979,055
$0.04
30-Jun-25
Number
Exercise
price
Expiry date
1,489,527
$0.06
30-Jun-25
1,489,527
$0.06
30-Jun-25
2,979,055
$0.06
30-Jun-25
Number
Exercise
price
Expiry date
1,489,527
$0.06
30-Jun-25
1,489,527
$0.06
30-Jun-25
2,979,055
$0.06
30-Jun-25
Andrew Booth
KMP Options
Tranche 1
KMP Options
Tranche 2
KMP Options
Tranche 3
Fair value at grant date
$0.01
$0.01
$0.01
Share price at grant date
$0.04
$0.04
$0.04
Exercise price
$0.06
$0.06
$0.06
Expected volatility
72.00%
72.00%
72.00%
Expected life
1 month
1 year
2 years
Expected dividends
Nil
Nil
Nil
Risk-free interest rate
0.03%
0.03%
0.03%
Number of options issued
1,489,527
1,489,527
2,979,055
Valuation
$20,539
$20,539
$41,078
2 Year Vesting and ongoing employment
3 Year Vesting and ongoing employment
SHARE-BASED PAYMENT EXPENSE (CONT'D)
Vesting conditions
2 Year Vesting and ongoing employment
3 Year Vesting and ongoing employment
1 Year Vesting and ongoing employment
On 1 December 2022, the Company granted 5,958,109 unlisted options to employee and key management
personnel, Mr Andrew Booth pursuant to the Company’s share option plan approved by shareholders at the
Company’s AGM held 16 November 2022. The unlisted options were subsequently issued on 9 January 2023.
The terms of the options are:
NOTES TO THE FINANCIAL STATEMENTS
Vesting conditions
1 Month Vesting and ongoing employment
On 4 January 2023, the Company granted 5,958,109 unlisted options to employee and key management
personnel, Ms A Godbeer pursuant to the Company’s share option plan approved by shareholders at the
Company’s AGM held 16 November 2022. The unlisted options were subsequently issued on 9 January 2023.
The terms of the options are:
Vesting conditions
4 Month Vesting and ongoing employment
1.5 Year Vesting and ongoing employment
as at 30 June 2025
The fair value of the equity settled share options granted are estimated at the date of grant using a Black-
Scholes model taking into account the terms and conditions upon which the options were granted.
2.5 Year Vesting and ongoing employment
65 | ©2025 Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Notes to the Financial Statements
22
Angela Godbeer
KMP Options
Tranche 1
KMP Options
Tranche 2
KMP Options
Tranche 3
Fair value at grant date
$0.01
$0.01
$0.01
Share price at grant date
$0.04
$0.04
$0.04
Expected dividends
Nil
Nil
Nil
Risk-free interest rate
0.03%
0.03%
0.03%
Number of options issued
1,489,527
1,489,527
2,979,055
Valuation
$20,166
$20,166
$40,332
Unlisted Options
Balance at
1 July 2024
Granted
Exercise of
Options
Balance at 30
June 2025 (or
date of
resignation)
Vested and
exercisable
at 30 June
2025
Executives
A Booth
8,937,164
-
(8,937,164)
-
-
A Godbeer
5,958,109
-
(5,958,109)
-
-
Total
14,895,273
-
(14,895,273)
-
-
0.056
0.056
Perfomance Rights
SHARE-BASED PAYMENT EXPENSE (CONT'D)
NOTES TO THE FINANCIAL STATEMENTS
as at 30 June 2025
On 1 July 2024, the Company offered performance rights (zero exercise price options) to Key Management
Personnel as part of a long-term incentive plan. The awards are equity-settled.
The Performance Rights will be subject to two key performance hurdles:
•Total Shareholder Return (TSR); and
•Earnings per Share Growth (EPS).
In addition, a three-year tenure-based vesting condition will apply. Performance Rights will be offered annually
on a rolling basis. Rights will lapse if performance and tenure conditions are not met.
These awards will vest subject to meeting defined performance conditions over the vesting period. No
dividends or cash payments are attached to the awards.
As at the reporting date, the performance rights were granted but are not yet issued
Weighted average
exercise price (cents)
At the reporting date, the weighted average remaining contractual life of options outstanding at year end was
nil. Refer to Share-based Payment Arrangements and Controlled Trust section below for further details
66 | ©2025 Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Notes to the Financial Statements
22
Andrew
Booth EPS
Andrew
Booth SPI
Angela
Godbeer EPS
Angela
Godbeer SPI
No of options
2,248,693

3,703,676

1,155,151

1,902,574

Vesting date
1/07/2027
1/07/2029
1/07/2027
1/07/2029
Expiry date
1/07/2029
1/07/2029
1/07/2029
1/07/2029
Share Price
0.056
$

0.056
$

Monte Carlo Value
Nil
0.034
$

Nil
0.034
$

Exercise Price
Nil
Nil
Nil
Nil
Time to
expiry
5
5
5
5
Fisk Free Rate
Nil
0.0412
Nil
0.0412
Dividend Yield
Nil
Nil
Nil
Nil
Volatility
Nil
0.8712
Nil
0.8712
Valuation Method
Share price
on grant date Monte Carlo
Share price
on grant date
Monte Carlo
Valuation
125,925
$
125,925
$
64,688
$

64,688
$

Performance Rights
Balance at
1 July 2024
Granted
Exercise of
Options
Balance at
30 June 2025
Executives
A Booth
-
5,952,369
-
5,952,369
A Godbeer
-
3,057,725
-
3,057,725
Total
-
9,010,094
-
9,010,094
NOTES TO THE FINANCIAL STATEMENTS
as at 30 June 2025
SHARE-BASED PAYMENT EXPENSE (CONT'D)
Perfomance Rights
The share based expense with respective to the performance rights as at 30 June 2025 is $101,360. (2024: Nil)
Share-based Payment Arrangements and Controlled Trust
During the year, the Company advanced limited recourse loans to the value of $502,781 to two employees to
fund the exercise of 8,379,691 options into ordinary shares under the Employee Incentive Securities Plan.
Should the loans not be repaid, the Group's only recourse is limited to recovering the value of the shares upon
sale, capped at the loan amount.
The total fair value of the equity instruments granted, approximated by the loan value, was $365,702. The
vesting period is two years, commencing 27th June 2025. For the year ended 30 June 2025, the expense
recognised is $1,503 (FY24: Nil), reflects valuation by way of Black Scholes model with inputs below.
The shares are held in the Advanced Braking Technology Option Share Trust, which exists solely to facilitate
the Company’s employee equity incentive plans. Under AASB 10 Consolidated Financial Statements, the trust is
consolidated into the Group’s accounts. Shares held in the trust are classified as treasury shares and deducted
from equity until transferred to employees.
At 30 June 2025, the trust held 8,379,691 shares related to this arrangement. This transaction had no net impact
67 | ©2025 Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Notes to the Financial Statements
22
Valuation
Options granted
8,379,691

Valuation Date
27/06/2025
Expiry date
27/06/2027
Share Price
0.079
$

Exercise Price
0.060
$

Time to Expiry
2 years
Fisk
Free
Rate
3.20%
Dividend Yield
Nil
Valuation Method
Black
Scholes
Fair Value of one option
0.0436
$

Total fair value of options
365,702
$
23 CONTROLLED ENTITIES
Advanced Braking Pty Ltd ACN 088 129 917 (Incorporated in WA)
Jun-25
Jun-24
Class and number of shares: ordinary
100%
100%
24 PARENT INFORMATION
Jun-25
Jun-24
STATEMENT OF FINANCIAL POSITION
$’000
$’000
ASSETS
Current assets
74
107
Non-current assets
7,929
6,853
TOTAL ASSETS
8,003
6,960
LIABILITIES
Current liabilities
94
97
Non-current liabilities
-
-
EQUITY
Issued capital
56,822
55,970
Reserves
575
450
Accumulated losses
(49,487)
(49,556)
TOTAL EQUITY
7,910
6,864
NOTES TO THE FINANCIAL STATEMENTS
as at 30 June 2025
The following information has been extracted from the books and records of the parent company and has
been prepared in accordance with Accounting Standards.
SHARE-BASED PAYMENT EXPENSE (CONT'D)
On 28 May 2002, the parent entity acquired 100% of Advanced Braking Pty Ltd for a purchase consideration of
$200,002. The principal activity of the Company is brake research, design, engineering and commercialisation,
and sales of brakes and brake parts.
68 | ©2025 Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Notes to the Financial Statements
24 PARENT INFORMATION (CONT'D)
Jun-25
Jun-24
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
$’000
$’000
Total profit/(loss) after tax
70
(131)
Total Comprehensive Income/(loss)
70
(131)
RECOGNITION AND MEASUREMENT
Contractual commitments
Contingent Liabilities
There are no contingent liabilities. (2024: nil )
Intercompany transactions
as at 30 June 2025
Advanced Braking Technology Ltd has provided guarantees to a number of suppliers of Advanced Braking Pty
Ltd in connection with the subsidiary negotiating finance under lease agreements, the R&D rebate loan and in
relation to the Perth leased premises. The Directors have also resolved that the Company will continue to
provide financial support to its subsidiaries for as long as it is required.
As at 30 June 2025, Advanced Braking Technology Ltd had not entered into any contractual commitments for
the acquisition of property, plant and equipment (2024: nil).
Subsidiaries are all entities over which the Group has control. Control exists when the Group is exposed, or has
rights, to variable returns from its involvement with the entity and has the ability to affect those returns through
its power to direct the relevant activities of the entity.
The financial statements of subsidiaries are included in the consolidated financial statements from the date
control is obtained until the date control ceases. Intra-group balances, transactions, income and expenses are
eliminated in full on consolidation.
In the Company’s separate financial statements, investments in subsidiaries are measured at cost, less any
accumulated impairment losses. Dividends received from subsidiaries are recognised in profit or loss when the
right to receive the dividend is established.
NOTES TO THE FINANCIAL STATEMENTS
Intercompany loans which are provided at no interest and are treated by the Parent Entity as an investment in
the subsidiary. Intercompany transactions are eliminated on consolidation.
69 | ©2025 Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Notes to the Financial Statements
25
Transactions with directors
Transactions key management personnel
26 AUDITOR'S REMUNERATION
Jun-25
Jun-24
Remuneration of the auditor of the consolidated group for:
$’000
$’000
Audit or review of the financial statements1
72
57
Other services2
17
10
90
67
1
2
27 CONTINGENT LIABILITIES
There are no contingent liabilities (2024: nil ).
28 CONTRACTUAL COMMITMENTS
29 EVENTS SUBSEQUENT TO BALANCE DATE
BDO was appointed as the Group's new auditors effective 20 Nov 2024. For year ended June 2025, they
provided $71,416.94 of audit consultations.
RELATED PARTY TRANSACTION
During the reporting period the Company made payments totalling $61,106 to Rockwell Group Holdings Pty Ltd
for director’s fees for Adam Levine for FY24. Rockwell Group Holdings Pty Ltd is a related party of Director,
Adam Levine of which he is a director and shareholder.
In November 2024 and June 2025, the company issued 5,958,109 new ordinary shares in the Company on the
exercise of 2,047,000 unlisted options exercisable at $0.06 to Ms Godbeer.
In June 2025, the company issued 5,958,109 new ordinary shares in the Company on the exercise of 1,489,527
unlisted options exercisable at $0.06 to our Mr Booth.
In June 2025, the company issued 2,979,055 new ordinary shares in the Company on the exercise of 1,489,527
unlisted options exercisable at $0.04 to Mr Booth.
as at 30 June 2025
NOTES TO THE FINANCIAL STATEMENTS
During the year, the Company provided unsecured loans to Andrew Booth of $268,115 and Angela Godbeer of
$234,667. The loans carry interest at 6% per annum, are unsecured, and repayable by 27 June 2027. As limited
recourse loans, it has been accounted for as a share-based payment. Refer to Note 22 for further details.
BDO was appointed as the Group's new auditors effective 20 Nov 2024. For year ended June 2025, they
provided $17,357.14 of taxation consultations.
Mr Adam Levine resigned as Non -Executive Director effective 18 August 2025.. The Board confirms that there
are no other matter or circumstance has arisen since 30 June 2025 that has significantly affected, or may
significantly affect the consolidated entity's operations, the results of those operations, or the consolidated
entity's state of affairs in future financial years.
There was no material capital expenditure contracted for at the end of the reporting year.
70 | ©2025 Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Notes to the Financial Statements
Name of entity
% of share
capital
Residency
Advanced Braking
Technology Limited
0%
Australia
Advanced Braking Pty
Ltd
100%
Australia
Country of incorporation
Basis of Preparation
This Consolidated Entity Disclosure Statement (CEDS) has been prepared in accordance with the Corporations
Act 2001. It includes certain information for each entity that was part of the consolidated entity at the end of the
financial year.
Determination of Tax Residency
Section 295 (3A) of the Corporation Acts 2001 defines tax residency as having the meaning in the Income Tax
Assessment Act 1997.
The determination of tax residency involves judgment as there are currently several different interpretations
that could be adopted, and which could give rise to a different conclusion on residency.
In determining tax residency, each of the Australian consolidated entity has applied the following
interpretations:
Australian tax residency
The consolidated entity has applied current legislation and judicial precedent, including having regard to the
Tax Commissioner's public guidance in Tax Ruling TR 2018/5.
CONSOLIDATED ENTITY DISCLOSURE STATEMENT
Body Corporate
Australia
Type of entity
Body Corporate
Australia
as at 30 June 2025
71 | ©2025 Advanced Braking Technology Ltd. All rights reserved

ABT Annual Report 2025
Directors’ Declaration
DIRECTORS’ DECLARATION
In the directors’ opinion:
•
the attached financial statements and notes comply with the Corporations Act 2001, the Accounting Standards, the
Corporations Regulations 2001 and other mandatory professional reporting requirements;
•
the attached financial statements and notes comply with International Financial Reporting Standards as issued by the
International Accounting Standards Board as described in note 1 to the financial statements;
•
the attached financial statements and notes give a true and fair view of the consolidated entity’s financial position as at 30
June 2025 and of its performance for the financial year ended on that date;
•
there are reasonable grounds to believe that the company will be able to pay its debts as and when they become due and
payable;
•
the information disclosed in the attached consolidated entity disclosure statement is true and correct.
The directors have been given the declarations required by section 295A of the Corporations Act 2001.
Signed in accordance with a resolution of directors made pursuant to section 295(5)(a) of the Corporations Act 2001.
On behalf of the directors
Dagmar Parsons
Chair
28 August 2025
72 | ©2025 Advanced Braking Technology Ltd. All rights reserved

Tel: +61 8 6382 4600
Fax: +61 8 6382 4601
www.bdo.com.au
Level 9, Mia Yellagonga Tower 2
5 Spring Street
Perth WA 6000
PO Box 700 West Perth WA 6872
Australia
BDO Audit Pty Ltd ABN 33 134 022 870 is a member of a national association of independent entities which are all members of A.C.N. 050 110 275 Ltd
ABN 77 050 110 275, an Australian company limited by guarantee. BDO Audit Pty Ltd and A.C.N. 050 110 275 Ltd are members of BDO International
Ltd, a UK company limited by guarantee, and form part of the international BDO network of independent member firms. Liability limited by a scheme
approved under Professional Standards Legislation.
INDEPENDENT AUDITOR'S REPORT
To the members of Advanced Braking Technology Limited
Report on the Audit of the Financial Report
Opinion
We have audited the financial report of Advanced Braking Technology Limited (the Company) and its
subsidiary (the Group), which comprises the consolidated statement of financial position as at 30 June
2025, the consolidated statement of profit or loss and other comprehensive income, the consolidated
statement of changes in equity and the consolidated statement of cash flows for the year then ended,
and notes to the financial report, including material accounting policy information, the consolidated
entity disclosure statement and the directors’ declaration.
In our opinion the accompanying financial report of the Group, is in accordance with the Corporations
Act 2001, including:
(i)
Giving a true and fair view of the Group’s financial position as at 30 June 2025 and of its
financial performance for the year ended on that date; and
(ii)
Complying with Australian Accounting Standards and the Corporations Regulations 2001.
Basis for opinion
We conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under
those standards are further described in the Auditor’s responsibilities for the audit of the Financial
Report section of our report. We are independent of the Group in accordance with the Corporations
Act 2001 and the ethical requirements of the Accounting Professional and Ethical Standards Board’s
APES 110 Code of Ethics for Professional Accountants (including Independence Standards) (the Code)
that are relevant to our audit of the financial report in Australia. We have also fulfilled our other
ethical responsibilities in accordance with the Code.
We confirm that the independence declaration required by the Corporations Act 2001, which has been
given to the directors of the Company, would be in the same terms if given to the directors as at the
time of this auditor’s report.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
for our opinion.
Key audit matters
Key audit matters are those matters that, in our professional judgement, were of most significance in
our audit of the financial report of the current period. These matters were addressed in the context of
our audit of the financial report as a whole, and in forming our opinion thereon, and we do not provide
a separate opinion on these matters.

Existence and Valuation of Inventories
Audit Approach
As disclosed in Note 10, the Group held a
material inventory balance as at 30 June
2025. Inventory valuation and existence was
identified as a key audit matter due to the
following factors:
•
Significance of the balance, inventory
represents a substantial proportion of the
Group’s total assets.
•
Estimation uncertainty, management
judgement is involved in determining
provisions for obsolescence, including the
assessment of net realisable value
(‘NRV’); and
•
Judgement in cost allocation and applying
an appropriate costing methodology in
accordance with the Group’s accounting
policy.
These factors increase the complexity and
subjectivity of the audit in this area. Refer to
Note 10 for the detailed disclosures which
include the related accounting policy and
Note 1 for accounting estimates.

Our procedures included, but were not limited to:
-
Obtaining the inventory listing at 30 June
2025 and verifying to underlying accounting
records;
-
Attending the year end inventory stocktake
and performing independent sighting
procedures;
-
Assessing whether consignment stock was
held at 30 June 2025;
-
Considering the ageing profile of inventory,
specifically considering redundant/
superseded product lines and slow moving
items;
-
Considering the inventory provisioning policy
and assessing the assumptions applied by
management in determining the provision;
-
Obtaining and recalculating management’s
stock obsolescence calculation for adequacy
and accuracy;
-
Testing a sample of inventory items on hand
at year end to ascertain whether these
balances were being recognised at the lower
of cost and net realisable value; and
-
Assessing the adequacy of financial report
disclosures.
Other information
The directors are responsible for the other information. The other information comprises the
information in the Group’s annual report for the year ended 30 June 2025, but does not include the
financial report and the auditor’s report thereon.
Our opinion on the financial report does not cover the other information and we do not express any
form of assurance conclusion thereon.
In connection with our audit of the financial report, our responsibility is to read the other information
and, in doing so, consider whether the other information is materially inconsistent with the financial
report or our knowledge obtained in the audit or otherwise appears to be materially misstated.

If, based on the work we have performed, we conclude that there is a material misstatement of this
other information, we are required to report that fact. We have nothing to report in this regard.
Other matter
The financial report of Advanced Breaking Technology Limited, for the year ended 30 June 2024 was
audited by another auditor who expressed an unmodified opinion on that report on 29 August 2024.
Responsibilities of the directors for the Financial Report
The directors of the Company are responsible for the preparation of:
a)
the financial report that gives a true and fair view in accordance with Australian Accounting
Standards and the Corporations Act 2001 and
b)
the consolidated entity disclosure statement that is true and correct in accordance with the
Corporations Act 2001, and
for such internal control as the directors determine is necessary to enable the preparation of:
i)
the financial report that gives a true and fair view and is free from material misstatement,
whether due to fraud or error; and
ii)
the consolidated entity disclosure statement that is true and correct and is free of misstatement,
whether due to fraud or error.
In preparing the financial report, the directors are responsible for assessing the ability of the group to
continue as a going concern, disclosing, as applicable, matters related to going concern and using the
going concern basis of accounting unless the directors either intend to liquidate the Group or to cease
operations, or has no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the Financial Report
Our objectives are to obtain reasonable assurance about whether the financial report as a whole is free
from material misstatement, whether due to fraud or error, and to issue an auditor’s report that
includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an
audit conducted in accordance with the Australian Auditing Standards will always detect a material
misstatement when it exists. Misstatements can arise from fraud or error and are considered material
if, individually or in the aggregate, they could reasonably be expected to influence the economic
decisions of users taken on the basis of this financial report.
A further description of our responsibilities for the audit of the financial report is located at the
Auditing and Assurance Standards Board website (http://www.auasb.gov.au/Home.aspx) at:
https://www.auasb.gov.au/media/bwvjcgre/ar1_2024.pdf
This description forms part of our auditor’s report.
Report on the Remuneration Report
Opinion on the Remuneration Report
We have audited the Remuneration Report included in pages 23 to 31 of the directors’ report for the
year ended 30 June 2025.

In our opinion, the Remuneration Report of Advanced Braking Technology Limited, for the year ended
30 June 2025, complies with section 300A of the Corporations Act 2001.
Responsibilities
The directors of the Company are responsible for the preparation and presentation of the
Remuneration Report in accordance with section 300A of the Corporations Act 2001. Our responsibility
is to express an opinion on the Remuneration Report, based on our audit conducted in accordance with
Australian Auditing Standards.
BDO Audit Pty Ltd
Ashleigh Woodley
Director
Perth, 28 August 2025

ABT Annual Report 2025
Shareholder Information
2.
Substantial Shareholders
The Company has the following substantial
Shareholder at 4 August 2025:
3.
Share Options on issue at 4 August 2025
All share options have been exercised.
4.
On-market buy-back.
There is no current on-market buy-back.
5.
Quotation
Ordinary shares in Advanced Braking
Technology Ltd are listed on the Australian
Securities Exchange (ASX:ABV).
Mr Keith
Knowles
31.75%
126,334,372
ordinary
shares
Mr David
Slack
19.70%
78,379,591
ordinary
shares
DISTRIBUTION OF FULLY PAID ORDINARY SHARES
Size of Holding
Number of
Shareholders
Shares Held
% Units
1
-
1,000
206
133,322
0.03
1,001
-
5,000
276
739,304
0.19
5,001
-
10,000
174
1,317,768
0.33
10,001
-
100,000
514
20,282,962
5.10
100,001
and
Over
257
375,382,529
94.55
Total
1,427
397,855,885
100.00
Additional information required by the ASX Limited
Listing Rules and not disclosed elsewhere in this report
is set out below.
Statement of issued capital at 4 August 2025
A.
Distribution of fully paid ordinary shares
B.
There are 580 Shareholders with less than a
marketable parcel.
C.
There are no restrictions on voting rights
attached to the ordinary shares on issue.
On a show of hands, every member present
in person shall have one vote and upon a poll,
every member present in person or by proxy
shall have one vote for every share held.
SHAREHOLDER
INFORMATION
77 | ©2025 Advanced Braking Technology Ltd. All rights reserved.

Shareholder Information
6.
Largest Fully Paid Ordinary Shareholders
The names of the twenty largest Shareholders at 4 August 2025, who hold 68.88% of the fully paid ordinary
shares in the Company, are:
Rank
Name
Number of shares
% of Issued shares
1
Parks Australia Pty Ltd
71,530,192
17.98
2
Dasi Investments Pty Ltd
52,496,634
13.19
3
Mr Keith Knowles
48,818,924
12.27
4
Windpac Pty Ltd
18,981,633
4.77
5
Equity Plan Services Pty Ltd
12,848,273
3.23
6
DMX Capital Partners Limited
9,500,000
2.39
7
RP Invest Pty Ltd
8,600,000
2.16
8
Mr Peter Rodney Bower
8,141,590
2.05
9
Mr David Earl Slack
6,901,324
1.73
10
HSBC Custody Nominees (Australia) Limited
5,208,841
1.31
11
Mr Keith Knowles
4,200,000
1.06
12
Honne Investments Pty Limited
3,500,000
0.88
13
Mr Andrew George Booth
3,264,454
0.82
14
Mrs Teresa Elizabeth Williams
2,883,200
0.72
15
Mrs Jennifer Anne Hurley + Mr Justin John Hurley

2,557,059
0.64
16
Onkaparinga Holdings Pty Ltd

2,500,000
0.63
17
Snowball Asset Mgmt Pty Ltd

2,500,000
0.63
18
MYALL Resources Pty Ltd

1800 3175 43
info@advancedbraking.com
73 Inspiration Drive Wangara
6065, Western Australia
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