Half year results

As AI infrastructure becomes increasingly competitive and commoditised,
we look to the future value creation of platforms and applications. Our first
six months as a company have focused on protocol and application layer
development in two AI verticals—international tourism and education.

At our September AGM we announced Project Treehouse. This project
leads our drive into a future where autonomous agents will transact
on behalf of their human counterparts. Our initial focus here is on
tourism - transforming tourism aggregator marketplaces and providing
tourism operators with the technology to optimise traveller engagement
and resources. Treehouse architecture includes next generation global
payments infrastructure such as AI-native agent integration with Ripple’s
XRP Ledger and multi-currency settlement with the XRP payments and
Ripple’s regulated stable coin (RLUSD) ecosystem.

The second pillar of our agentic strategy is education building upon the
Fingerprint and Blueprint technologies outlined at our September AGM.
Our vision is to empower learners and teachers in an open network—
amplifying teaching efficacy and allowing each individual to learn what
they need, in the way that works best for them. The personalised multimodal
learning platform provides immersive learning experiences,
leveraging content partnerships with some of our most loved institutions.

Having completed our launch stage as a public company, we reconstituted
our Board to better reflect the two agentic marketplace pillars above.
Thanking Sean Joyce, Roger Gower and Joe Jensen for their service, we
welcomed two new independent directors, Andy Higgs and Brett O’Riley.
Andy Higgs has subsequently been voted our new independent chair,
and Brett O’Riley the independent chair of our Audit Committee.
This strategic focus demonstrates our commitment to our agentic
commerce and learning initiatives and we look forward to expanding
this board with specialised skillsets in the coming months.

We are pleased to report that our Portfolio investments have developed
well. We have capped our investment in Tymestack.com in order to
focus our resources on our intelligent tourism and education strategies.
We are extremely pleased to report that Send Global delivered a solid
interim result and would especially like to thank this experienced team for
delivering that great result.

Due to headwinds and increasing strategic focus we have agreed to
return Being Consultants to 2384 LP in return for cancelling their
Contingent Consideration. The fair value adjustment to Contingent
Consideration ($32.13m) means the loss recorded in our financial
statements for the period does not reflect our trading position. IFRS
accounting standards require that we must recognise a loss of ($35.619m)
in the first six months. The impact of the fair value adjustment will be
reversed in the second six months.

“Driven by the purpose of empowerment, our company focus underscores
the growing global demand for innovative agentic technologies that
simplify and enrich everyday experiences,” said David McDonald, Being
AI CEO. “We are proud of the innovative technologies we developed in
a short six months and are looking forward to delivering solutions that
not only drive results for our partners but also empower individuals and
organisations to thrive in a rapidly evolving digital landscape.”

Our impact portfolio, Manawaroa Education, remains committed
to growth and innovation despite delays in the application for its first
charter school. We continue to advance our existing private and state-integrated
schools, fostering agile environments that drive educational
progress. Through a hands-on approach, we are passionate about
accelerating the adoption of equitable, personalised learning solutions,
enabling the rapid scaling of innovations and curricula that address
systemic challenges and prepare students for a purpose-driven future.

As we look ahead to the second half of the year, Being AI remains
committed to strategic investments in product development, partnerships,
and customer success across our whole portfolio to solidify our position.

As we enter the Age of Abundant Intelligence, Being AI is set to enjoy an
exciting and fruitful 2025. Thank you to our Directors for their strategic
governance and inspiration, and to our shareholders for their support.

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