Announcement PDF A S X : I O V A C N 1 4 9 7 9 6 3 3 2 F I N A N C I A L Y E A R 2 0 2 6 AnnualReport 2026 AnnualreportofIONVideoLimitedanditscontrolledentitiesforthe financialyearended30June2026. (FormerlyLiniusTechnologiesLimited) ION Video Limited Level 2, 161 Collins Street, Melbourne VIC 3000 30 September 2026 ion.video · Page 1 of 68 CONTENTS ANNUAL REPORT 2026 · YEAR ENDED 30 JUNE 2026 I O N V I D E O L I M I T E D Contents CorporateDirectory 3 Chairman'sLettertoShareholders 4 Directors'Report 5–23 CorporateGovernanceStatement 23 Auditor'sIndependenceDeclaration 24 ConsolidatedStatementofProfitorLossandOtherComprehensiveIncome 25 ConsolidatedStatementofFinancialPosition 26 ConsolidatedStatementofChangesinEquity 27 ConsolidatedStatementofCashFlows 28 NotestotheFinancialReport 29–58 ConsolidatedEntityDisclosureStatement 59 Directors'Declaration 60 IndependentAuditor'sReport 61–65 AdditionalInformationforListedCompanies 66–68 ION VIDEO LIMITED · ASX: IOV · ACN 149 796 332 ION.VIDEO · PAGE 2 OF 68 CORPORATE DIRECTORY ANNUAL REPORT 2026 · YEAR ENDED 30 JUNE 2026 CorporateDirectory ThisannualreportcoversIonVideoLimitedanditscontrolledentities(the“Group”or“ConsolidatedEntity”)duringtheyear ended30June2026.ThepresentationcurrencyoftheGroupisAustraliandollars. D I R E C T O R S A N D O F F I C E R S BrentJones Non-ExecutiveChairman Appointed16June2025 AndrewDemetriou Non-ExecutiveDirector Appointed16June2025 AnthonyBaker CEO Appointed12November2025andExecutiveDirector4 February2026 DominicO’Hanlon Non-ExecutiveDirector Appointed19August2026 ClarkKirby Non-ExecutiveDirector Appointed19August2026 GiuseppeRinarelli CFO AppointedExecutiveDirector6October2025,resignedas ExecutiveDirector4February2026andresignedas CompanySecretary1December2025 SophieKarzis CompanySecretary Appointed1December2025 F O R M E R D I R E C T O R S A N D O F F I C E R S ( D U R I N G T H E Y E A R ) AnthonyO’Hanlon ExecutiveDirector Appointed4February2026andresigned19August2026 GerardBongiorno Non-ExecutiveChairman Resigned6October2025 JohnWallace Non-ExecutiveDirector Resigned7July2025 BarryMcNeill Non-ExecutiveDirector Resigned6August2025 BenTaverner CEO Appointed1February2025andresigned12November2025 R E G I S T E R E D O F F I C E Level2, 161CollinsStreet MelbourneVIC3000 P R I N C I P A L P L A C E O F B U S I N E S S Level2, 161CollinsStreet MelbourneVIC3000 Telephone(03)86802317 Emailinvestor.relations@ion.video S H A R E R E G I S T R Y Automic Level5,126PhillipStreet SydneyNSW2000 Telephone(02)96895414 A U D I T O R S WilliamBuck 20/181WilliamStreet MelbourneVIC3000 W E B S I T E www.ion.video A S X C O D E IOV ION VIDEO LIMITED · ASX: IOV · ACN 149 796 332 ION.VIDEO · PAGE 3 OF 68 CHAIRMAN’S LETTER ANNUAL REPORT 2026 · YEAR ENDED 30 JUNE 2026 Chairman’sLetter DearShareholders, WearepleasedtopresenttheAnnualReportofIonVideoLimitedforthefinancialyearended30 June2026. Duringtheyear,theCompanyundertookacomprehensiverestructure,includingchangestotheBoard, managementandoperationalteam.Wealsomodernisedourtechnologyandbroadenedourstrategic focus.TheBoardbelievesthesechangeshavestrengthenedtheCompany’sfoundationsandpositionedit topursuethesignificantopportunitiesahead. OurstrategycentresonadvancingtheCompany’svideotechnologyanditspotentialtoimprovehow digitalvideoisaccessed,assembledanddelivered.Webelievethistechnologyhasthepotentialto addressimportantinfrastructureandefficiencychallengesarisingfromtherapidgrowthofartificial intelligenceanddatacentres. Theexecutionofthestrategyinitiatesthemostsignificantchangetodigitalvideosincethelaunchofthe MPEG4format. TheCompany’sfinancialresultsreflectmanagement’sfocusonlean,effectiveoperationsanddisciplined capitalallocation.UnderMrBaker’sleadershipasCEOandMD,thecostreductionprogrammehas transformedtheCompanyandcontributedtoanimprovednetassetposition. Wehavecontinuedtodevelopourtechnologyandexpandourpatentportfolio,andweareencouragedby thesupportshareholdershaveshownforthisprogress.Astheexclusiveownerofitstechnologyand associatedintellectualproperty,IonVideoisfocusedontranslatingtheseassetsintocommercialvalue. Ourprioritiesareclear:validatethetechnology’scapabilities,advancecommercialopportunitiesand buildlong-termvalueforshareholders. Wethankshareholdersfortheircontinuedsupport. BrentJones Chairman 30September2026 ION VIDEO LIMITED · ASX: IOV · ACN 149 796 332 ION.VIDEO · PAGE 4 OF 68 DIRECTORS’ REPORT ANNUAL REPORT 2026 · YEAR ENDED 30 JUNE 2026 Directors’Report YourdirectorspresentthisreportontheIonVideoLimited(the“Company”)anditscontrolledentities(the“Group”or “ConsolidatedEntity”)fortheyearended30June2026. Directors TheDirectorsinofficeduringtheyearwere: BrentJones(Non-ExecutiveChairman) AndrewDemetriou(Non-ExecutiveDirector) AnthonyBaker(ExecutiveDirector&CEO)appointedCEO12November2025andExecutiveDirector4February2026 AnthonyO’Hanlon(ExecutiveDirector)appointedExecutiveDirector4February2026andresigned19August2026 DominicO’Hanlon(Non-ExecutiveDirector)appointed19August2026 ClarkKirby(Non-ExecutiveDirector)appointed19August2026 GiuseppeRinarelli(ExecutiveDirector&CFO)appointed6October2025andresigned,asExecutiveDirector4February2026 GerardBongiorno(Non-ExecutiveChairman)resigned6October2025 JohnWallace(Non-ExecutiveDirector)resigned7July2025 BarryMcNeill(Non-ExecutiveDirector)resigned6August2025 AllDirectors(otherthannotedabove)havebeeninofficesincethestartofthefinancialyeartothedateofthisreport. CompanySecretary GiuseppeRinarelliB.Acc,CA MrRinarelliistheGroup’sCFOandcompanysecretary.Heisanexperiencedfinanceprofessionalhavingworkedwithina charteredenvironmentinexcessof10years.MrRinarelliwasappointedascompanysecretaryon3June2019andresigned1 December2025. SophieKarzisB.Juris,LLB MsKarzisisapractisinglawyerwithover15years’experienceasacorporateandcommerciallawyer,andCompanySecretary andGeneralCounselforanumberofprivateandpubliccompanies.MsKarziswasappointedascompanysecretaryon1 December2025. PrincipalActivities TheprincipalactivitiesoftheGroupweretherepositioningandstrategicresetoftheCompany’sbusinesstofocusonits patentedvirtualvideoinfrastructuretechnologyasenablinginfrastructureforartificialintelligencesystems.TheCompany’s patentsdescribeafundamentallydifferentarchitectureforhowvideoexistsinsideintelligentsystems,allowingAItoaccessand composevideoasprogrammabledataratherthanstaticfiles. OperatingResultsandReviewofOperations Thelossfortheyearended30June2026afterincometaxexpenseamountedto$4,515,913(2025loss:$5,006,363).Thisloss includesnon-cashsharebasedpaymentsexpenseof$2,870,411(2025:$257,896)andnon-cashamortisationandimpairment chargesonnon-financialassetsof$-(2025:$765,000).DuringtheyeartheCompanyhasfocusedonimprovingitsfinancial position,reducingoperatingcosts,expandingtheCompany’sintellectualpropertyportfolioandprogressingcommercial engagementwithprospectiveenterprisecustomers.Formoreinformationontheyearsactivitiespleaserefertotheabove Chairman’sletteronpage4. Significantchangesinthestateofaffairs IntheopinionofthedirectorstherewerenosignificantchangesinthestateofaffairsoftheGroupthatoccurredduringthe financialyearunderreview. ION VIDEO LIMITED · ASX: IOV · ACN 149 796 332 ION.VIDEO · PAGE 5 OF 68 DIRECTORS’ REPORT ANNUAL REPORT 2026 · YEAR ENDED 30 JUNE 2026 Directors’Reportcontinued DividendsPaidorRecommended Nodividendswerepaidordeclaredforpayment. FinancialPosition ThenetassetsoftheGroupat30June2026were$853,755(2025:netliabilities$2,238,205). GoingConcern Fortheyearended30June2026,theGroupincurredanoperatingnetlossof$4,515,913(2025:$5,006,363),netcashoutflows fromoperatingactivitiesof$3,209,595(2025:$2,737,881)andhadnetassets$853,755(2025:netliability$2,238,205).The Grouphadnetcurrentassetsof$866,218(2025:liabilities$2,158,826). TheabilityoftheGrouptocontinueasagoingconcernisdependentuponanumberoffactors,onebeingthecontinuationand availabilityoffunds.ThefinancialstatementshavebeenpreparedonthebasisthattheGroupisagoingconcern,which contemplatesthecontinuityofitsbusiness,realisationofassetsandthesettlementofliabilitiesinthenormalcourseofbusiness. Furtherdetailsonthegoingconcernbasisofpreparationusedtopreparetheannualfinancialstatementsaresetoutinnote1to theannualfinancialstatements. AfterBalanceDateEvents Capitalraising On15September2026,theGrouphadreceivedfirmcommitmentsfromprofessionalandsophisticatedinvestors(including directorsandmanagement)toadditionalcapitalexcludingtransactioncosts,viaaplacementtoraise$4,251,000viatheissueof 10,627,500fullypaidsharesat$0.40pershareon30September2026and5,313,750free-attachingoptionsatanexerciseprice of$1.00andexpiring30September2027. Otherthanthematternotedabove,therehasnotbeenanymatterorcircumstancethathasarisenafterbalancedatethathas significantlyaffected,ormaysignificantlyaffect,theoperationsoftheGroup,theresultsoftheseoperations,orthestateof affairsoftheGroupinfuturefinancialperiods. Materialbusinessrisks TheCompanyandGrouparesubjecttorisksofbothaspecificandgeneralnatureinthecontextoftheCompany’sbusiness including,butnotlimitedtothefollowing: SpecificrisksassociatedwiththeCompany AdditionalRequirementsforCapital TheCompany’scapitalrequirementsdependonnumerousfactors.DependingontheCompany’sabilitytogenerateincomefrom itsoperations,theCompanymayrequirefurtherfinancingtodevelopitsbusiness.Anyadditionalequityfinancingwilldilute shareholdings,anddebtfinancing,ifavailable,mayinvolverestrictionsonfinancingandoperatingactivities.IftheCompanyis unabletoobtainadditionalfinancingasneeded,itmayberequiredtoreducethescopeofitsoperationsandscalebackits programs,asthecasemaybe.ThereishowevernoguaranteethattheCompanywillbeabletosecureanyadditionalfundingor beabletosecurefundingontermsfavourabletotheCompany. ION VIDEO LIMITED · ASX: IOV · ACN 149 796 332 ION.VIDEO · PAGE 6 OF 68 DIRECTORS’ REPORT ANNUAL REPORT 2026 · YEAR ENDED 30 JUNE 2026 Directors’Reportcontinued GoingConcern TheCompany’sAnnualReportandAccountsfortheyearended30June2026includeanoteonthefinancialconditionofthe CompanyandthepossibleexistenceofamaterialuncertaintyabouttheCompany’sabilitytocontinueasagoingconcern. Notwithstandingthe‘goingconcern’materialuncertaintyincludedinthisfinancialreport,theDirectorsbelievethattheCompany willhavesufficientfundstoadequatelymeettheCompany’scurrentcommitmentsandshorttermworkingcapitalrequirements. Development TheCompany’sproductsandservicesarethesubjectofcontinuousdevelopmentandneedtobesubstantiallydevelopedfurther inordertogainandmaintaincompetitiveandtechnologicaladvantage,andtoimprovetheproducts’andservices’usability, scalabilityandaccuracy.TherearenoguaranteesthattheCompanywillbeabletoundertakesuchdevelopmentsuccessfully. Failuretosuccessfullyundertakesuchresearchanddevelopment,anticipatetechnicalproblems,orestimateresearchand developmentcostsortimeframesaccuratelywilladverselyaffecttheCompany’sresultsandviability. Technology TheCompany’smarketinvolvesrapidlyevolvingproductsandtechnologicalchange.TheCompanycannotguaranteethatitwill beabletoengageinresearchanddevelopmentattherequisitelevels.TheCompanycannotassureinvestorsthatitwill successfullyidentifynewtechnologicalopportunitiesandcontinuetohavetheneededfinancialresourcestodevelopnew productsinatimelyorcost-effectivemanner.Atthesametime,products,servicesandtechnologiesdevelopedbyothersmay rendertheCompany’sproductsandservicesobsoleteornon-competitive. Keypersonnel Theresponsibilityofoverseeingtheday-to-dayoperationsandthestrategicmanagementoftheCompanydependssubstantially onitsseniormanagementanditskeypersonnel.Therecanbenoassurancegiventhattherewillbenodetrimentalimpactonthe Companyifoneormoreoftheseemployeesceasetheiremployment. PrivacyandDataProtection TheCompany’sservicesmayinvolvethestorage,transmission,andprocessingofdatafromclientsinordertoprovideservicesto clients.Personalprivacy,informationsecurity,anddataprotectionaresignificantissues.Theregulatoryframeworkgoverningthe collection,processing,storage,anduseofbusinessinformation,particularlyinformationthatincludespersonaldata,israpidly evolvingandanyfailureorperceivedfailuretocomplywithapplicableprivacy,security,ordataprotectionlaws,regulationsor contractualobligationsmayadverselyaffecttheCompany’sbusiness. Competition TheindustryinwhichtheCompanywillbeinvolvedissubjecttodomesticandglobalcompetition.WhiletheCompanywill undertakeallreasonableduediligenceinitsbusinessdecisionsandoperations,theCompanywillhavenoinfluenceorcontrol overtheactivitiesoractionsofitscompetitors,whoseactivitiesoractionsmay,positivelyornegatively,affecttheoperatingand financialperformanceoftheCompany’sprojectsandbusiness. IndustrySpecificRisks Disputes TheactivitiesoftheCompanymayresultindisputeswiththirdparties,including,withoutlimitation,theCompany’sinvestors, competitors,regulators,partners,distributors,customers,directors,officersandemployees,andserviceproviders.The Companymayincursubstantialcostsinconnectionwithsuchdisputes. Further,achangeinstrategymayinvolvematerialandasyetunanticipatedrisks,aswellasahighdegreeofrisk,includinga higherdegreeofriskthantheCompany’sstrategyinplaceasofthedateofthisreport. ION VIDEO LIMITED · ASX: IOV · ACN 149 796 332 ION.VIDEO · PAGE 7 OF 68 DIRECTORS’ REPORT ANNUAL REPORT 2026 · YEAR ENDED 30 JUNE 2026 Directors’Reportcontinued InformationTechnology Withanytechnicalprojectthereareriskswiththechosentechnology,vendorsandemployeesandinexecution.Whilstthe Companyhasemployedandengagedsubject-matterexperts,employsexperiencedpersons,standardsecuritytechnologiesand approachestherearerisksthatdeliverywillfailtomeetexpectationsordeadlines,thattechnologiesbecomeobsolete,natural disastersoccur,theCompanyisthesubjectofafraudormaliciousattackorplatformsarecompromisedresultinginanegative impactontheCompany’sperformance. UserExperience TheCompany’sbusinessmodelisprimarilybasedonrecurringservicerevenuearisingfromtechnologyusersandcustomers. Notwithstandingeffortsplacedontheuserinterfaceandexperience,apooruserexperiencemayoccurandmayaffectgrowthof customernumbersandrepeatpurchases. Reputational AnynegativepublicityregardingtheCompany,oritsBoard,officersoremployees,ortheperformanceofitsproducts,will adverselyaffecttheCompany’sabilitytogeneraterevenue. Lossofcustomers TheCompanyhasestablishedimportantrelationshipsthroughdevelopmentofitsbusinesstodate.Thelossofoneormore customersthroughterminationorexpiryofcontractsmayadverselyaffecttheoperatingresultsoftheCompany. Dataloss,theftorcorruption ExploitationorhackingofanyoftheCompany’ssystemsornetworkscouldleadtocorruption,theftorlossofthedatawhich couldhaveamaterialadverseeffectontheCompany’sbusiness,financialconditionandresults.Further,iftheCompany’s systems,networksortechnologyaresubjecttoanytypeof‘cyber’crime,itstechnologymaybeperceivedasunsecurewhich mayleadtoadecreaseinthenumberofcustomers. TheCompanyhasnotbeenhacked,butitispossiblethattheCompanymayexperiencenegativepublicityiftheirsystemsare abletobehackedatsomepointinthefuture. GeneralRisks Generaleconomicclimate Generaleconomicconditions,lawsrelatingtotaxation,newlegislation,tradebarriers,movementsininterestandinflationrates, currencyexchangecontrolsandrates,nationalandinternationalpoliticalcircumstances(includingwars,terroristacts,sabotage, subversiveactivities,securityoperations,labourunrest,civildisorder,andstatesofemergency),naturaldisasters(including fires,earthquakesandfloods),andquarantinerestrictions,epidemicsandpandemics,mayhaveanadverseeffectonthe Company’soperations. GeneraleconomicconditionsmayalsoaffectthevalueoftheCompanyanditsmarketvaluationregardlessofits actualperformance. Changesinlegislationandgovernmentregulation GovernmentlegislationinAustraliaoranyotherrelevantjurisdiction,includingchangestothetaxationsystem,mayaffectfuture earningsandrelativeattractivenessofinvestingintheCompany.Changesingovernmentpolicyorstatutorychangesmayaffect theCompanyandtheattractivenessofaninvestmentinit. ION VIDEO LIMITED · ASX: IOV · ACN 149 796 332 ION.VIDEO · PAGE 8 OF 68 DIRECTORS’ REPORT ANNUAL REPORT 2026 · YEAR ENDED 30 JUNE 2026 Directors’Reportcontinued Globalcreditandinvestmentmarket Globalcredit,commodityandinvestmentmarketscananddoexperienceahighdegreeofuncertaintyandvolatility.Thefactors whichleadtothissituationareoutsidethecontroloftheCompanyandmaycontinueforsometimeresultingincontinued volatilityanduncertaintyinworldstockmarkets(includingtheASX).ThismayimpactthepriceatwhichtheCompany’ssecurities traderegardlessofoperatingperformance,andaffecttheCompany’sabilitytoraiseadditionalequityand/ordebttoachieveits objectives,ifrequired. Unforeseenrisk TheremaybeotherriskswhichtheDirectorsareunawareofatthetimeofissuingthisreportwhichmayimpactontheCompany, itsoperationand/orthevaluationandperformanceofitssecurities. Combinationofrisks TheCompanymaynotbesubjecttoasinglerisk.Acombinationofrisks,includinganyoftherisksoutlinesinthisSectioncould affecttheperformancevaluation,financialperformanceandprospectsoftheCompany. Unforeseenexpenditurerisk Expendituremayneedtobeincurredthathasnotbeentakenintoaccountinthepreparationofthisreport.Althoughthe Companyisnotawareofanyadditionalexpenditurerequirements,ifsuchexpenditureissubsequentlyincurred,thismay adverselyaffecttheexpenditureproposalsoftheCompany. Sharemarketconditions Themarketpriceofsecuritiesmaybesubjecttovariedandunpredictableinfluencesonthemarketforequities.Themarketprice ofsecuritiescanfallaswellasriseandmaybesubjecttovariedandunpredictableinfluencesonthemarketforequitiesin generalandresourceexplorationstocksinparticular.NeithertheCompanynortheDirectorswarrantthefutureperformanceof theCompanyoranyreturnonaninvestmentintheCompany. EnvironmentalIssues TherearenoenvironmentalregulationsorrequirementsthattheCompanyissubjectto.BasedonDirector’sassessmentthereis nosignificantclimaterelatedriskidentified.AstheCompany’soperationsexpandinfinancialyear2026andbeyond,the Companywillneedtoreassessitsenvironmentalandsustainabilityreportingobligations. ION VIDEO LIMITED · ASX: IOV · ACN 149 796 332 ION.VIDEO · PAGE 9 OF 68 DIRECTORS’ REPORT ANNUAL REPORT 2026 · YEAR ENDED 30 JUNE 2026 Directors’Reportcontinued InformationonDirectors BrentJones Non-ExecutiveChairman Experience MrJonesisanexperiencedfinancialservicesprofessionalwhohasheldnumerous directorshipsandmanagerialpositions.PreviouslyMrJonesactedasManaging Directorofseveralnationalfinancecorporationssupplyingdiversifiedprofessional servicestotheAccountingandAdviceindustry. Asaprofessionalandpersonalinvestor,MrJoneshasbeenexposedtonumerous M&As,IPOs,capitalraisings,earlyseedfundinganddevelopmentfundingactivities. MrJoneshasadegreeinInformationTechnologyfromMonashUniversityandisa memberoftheNationalTaxandAccountantsAssociationandisaGraduateofthe AustralianInstituteofCompanyDirectors(AICD). Directorsince16June2025 InterestinSharesandOptionsat30 June2026 21,372,238shares 186,666Optionsexpiring31July2026withanexercisepriceof$0.40 500,000Optionsexpiring30September2027withanexercisepriceof$0.20 2,000,000Optionsexpiring30November2029withanexercisepriceof$0.10 Directorshipsheldinotherlisted entitiesinthelast3years LatinResourcesLimited(ASX:LSR)-delistedFebruary2025 September2015toFeb2025 AndrewDemetriou Non-ExecutiveDirector Experience MrDemetriouwasChiefExecutiveOfficeroftheAustralianFootballLeague.Hewas theManagingDirectoroftheRuthiniumGroup,adentalimplantbusiness,andhe currentlyremainsaboardmember.MrDemetriouhasalsoservedasNon-Executive ChairmanoftheBaxterGroup,isaformerChairmanoftheAustralianMulticultural AdvisoryCouncilandservedtwoyearsontheReferendumCouncilonbehalfofthe FederalGovernmentforIndigenousRecognitionintheConstitution.MrDemetriouwas alsotheChairmanofBoardofManagementofCoxArchitectureandaDirectorof CrownResortsLimited. Directorsince16June2025 InterestinSharesandOptionsat30 June2026 Nil Directorshipsheldinotherlisted entitiesinthelast3years CapitolHealthLimited(ASX:CAJ)August2018toDecember2024 ION VIDEO LIMITED · ASX: IOV · ACN 149 796 332 ION.VIDEO · PAGE 10 OF 68 DIRECTORS’ REPORT ANNUAL REPORT 2026 · YEAR ENDED 30 JUNE 2026 Directors’Reportcontinued AnthonyBaker ExecutiveDirectorandCEO Experience MrBakerbeganhiscareerasatoprankedWallStreetanalystandhassincefounded andscaledmultiplebusinesses,includingventuresexceedingUS$100millioninannual revenue.AtIONhefocusesonstrategy,executionandcapitalallocation,buildinga scalablebusinessaroundthecompany’spatentedinfrastructure. MrBakerholdsaBsc.HonsEconomicsandAccounting;amemberoftheAssociation ofAccountants Directorsince4February2026 InterestinSharesandOptionsat30 June2026 16,995,722shares 233,333Optionsexpiring31July2026withanexercisepriceof$0.40 437,000Optionsexpiring30June2027withanexercisepriceof$0.20 2,000,000Optionsexpiring30November2029withanexercisepriceof$0.10 1,000,000Optionsexpiring31December2029withanexercisepriceof$0.20 Directorshipsheldinotherlisted entitiesinthelast3years Nil AnthonyFinbarO’Hanlon ExecutiveDirector Experience MrO’HanlonistheoriginalinventorofION’scoretechnologyandhasmorethan30 years’experiencetakingideasfromconcepttocommercialisationacrosssoftware, mediaandinnovationadvisoryroles.MrO’Hanlonhascredentialsacrossartificial intelligence,governanceandtechnicalstandardsandmostrecentlyservedasAIand InnovationLease(AsiaPacific)atMastercard. MrO’HanlonisacertifiedChiefInnovationOfficerfromtheGlobalInnovationInstitute Directorsince4February2026 InterestinSharesandOptionsat30 June2026 220,320shares 3,000,000Optionsexpiring31October2029withanexercisepriceof$0.00 1,000,000Optionsexpiring31December2029withanexercisepriceof$0.20 Directorshipsheldinotherlisted entitiesinthelast3years Nil GiuseppeRinarelli ChiefFinancialOfficerandExecutiveDirector Experience MrRinarelliisanexperiencedfinanceprofessionalhavingworkedwithinachartered environmentinexcessof20years,includingatKPMGintheauditandtechnical advisorypractice.MrRinarelliisalsotheChiefFinancialOfficerofWingaraAGLtd. MrRinarellihasadegreeinBusinessfromVictoriaUniversityandisamemberofthe InstituteofCharteredAccountantsAustraliaandNewZealand(ICAANZ). Directorsince6October2025resigned4February2026 InterestinSharesandOptionsat30 June2026 339,643shares 5,918Optionsexpiring31July2026withanexercisepriceof$0.40 Directorshipsheldinotherlisted entitiesinthelast3years WingaraAGLimited(ASX:WNR)fromJune2025 ION VIDEO LIMITED · ASX: IOV · ACN 149 796 332 ION.VIDEO · PAGE 11 OF 68 DIRECTORS’ REPORT ANNUAL REPORT 2026 · YEAR ENDED 30 JUNE 2026 Directors’Reportcontinued GerardBongiorno Non-ExecutiveChairman Experience MrBongiornoisPrincipalandCo-CEOofSapientCapitalPartners,amerchantbanking operationandhasover30yearsofprofessionalexperienceincapitalraisingsand corporateadvisory.PriortoformingSapient(formerlyOtwayCapital),Gerardwas HeadofPropertyFundsManagementatChallengerFinancialServicesGroup(CFG) andwasGroupSpecialProjectsManageratVillageRoadshow.Earlierinhiscareerhe workedatKPMGininsolvencyandcorporatefinance.GerardreceivedhisBachelor’s DegreeinEconomicsandAccountingfromMonashUniversityandcompletedthe ProgramforManagementDevelopmentatHarvardBusinessSchoolPMD75. Directorsince21February2017andresigned6October2025 InterestinSharesandOptionsat6 October2025 2,883,062Ordinaryshares 80,000Optionsexpiring31July2026withanexercisepriceof$0.004 Directorshipsheldinotherlisted entitiesinthelast3years Inthe3yearsimmediatelybeforetheendofthefinancialyear,GerardBongiorno servedasadirectorofthefollowinglistedcompanies: DubberCorporationLimited(ASX:DUB)July2017toMarch2025 JohnWallace Non-ExecutiveDirector Experience Mr.Wallaceisamedia&entertainmentexecutivewithover30yearsofexperiencein thevideoindustry.Hiscareerspansacrossbroadcastingtovideostreaming,havinga keeninterestintechnology.In2007,Mr.WallacebecamethePresidentof NBCUniversalbroadcasttelevisionstationsandthenservedasthePresidentofthe company’soperationsandtechnologydivisionin2011.Mr.Wallacewasnamedthe PresidentandChiefOperatingOfficerofDeluxeEntertainmentinLosAngeles, Californiain2015.Attheendof2019,Mr.Wallaceretiredfromcorporatemanagement andhasbeenremainingactiveintheM&Espaceviaconsultingengagements,primarily technology.HeservedontheboardofAvidTechnology,Inc.,acompanythatprovides worldclassproductiontechnologytothevideoandaudiosectorsoftheentertainment industry,asanindependentdirector.NASDAQ:AVID. Mr.WallaceholdsaBachelor’sDegreefromProvidenceCollegeandMaster’sDegree fromMontclairStateUniversity. Directorsince14December2020,resigned7July2025 InterestinSharesandOptionsat7July 2025 860,000shares Directorshipsheldinotherlisted entitiesinthelast3years Inthe3yearsimmediatelybeforetheendofthefinancialyear,JohnWallaceservedas adirectorofthefollowinglistedcompanies: AvidTechnologyInc.(NASDAQ:AVID)sinceMay2017–November2023 ION VIDEO LIMITED · ASX: IOV · ACN 149 796 332 ION.VIDEO · PAGE 12 OF 68 DIRECTORS’ REPORT ANNUAL REPORT 2026 · YEAR ENDED 30 JUNE 2026 Directors’Reportcontinued BarryMcNeill Non-ExecutiveDirector Experience MrMcNeillhasover20years’experienceinSportsManagementandSports Technology.Hehasledmultiplesport-techcompaniesthroughrapidgrowthphasesas CEOatCatapultSports(ASX:CAT)andProzone,whichwasacquiredbyStatsPerform in2015. Currently,MrMcNeillisFounder&CEOatBloomSportsPartners,atransformational sportsadvisoryfirm,helpingsportsleaguesandgrowthfocusedownershipgroups findcompetitiveadvantageandsustainedsuccess.Previously,MrMcNeillwasCEOat Sportsology,aleadingadvisoryfirmtomajorsportsteamsandleaguesacrossMLS, NBA,NFLandEuropeanFootball. Directorsince19June2023andresigned6August2025 InterestinSharesandOptionsat6 August2025 836,606shares 3,333,333Optionsexpiring31July2026withanexercisepriceof$0.004 Directorshipsheldinotherlisted entitiesinthelast3years Nil DominicO’Hanlon Non-ExecutiveDirector Experience MrO’Hanlonhasover30yearsofexperienceinInformationTechnologyindustry. Throughouthiscareer,Mr.O’Hanlonhasheldkeyexecutiveroles,bothdomestically andinternationally,consistentlydrivinggrownandcommercialsuccessintechnology focusedbusinesses. MrO’HanlonservedasManagingDirectorandCEOofRhipe(ASX:RHP)foroverseven years.DuringMrO’Hanlon’stimeasCEOofRHP,thebusinessgrewsalesfromAUD $74.5mto$377.4m(26.6%CAGR)andEBITDAfrom$1.5mto$16.6m(41%CAGR). RHPhadapproximately600staffacross10countries. PriortoRHP,MrO’Hanlonhadmultipletechnologybuildandscaleexperiences includingCEOofHaleyLimited(SoldtoOracle)andasChiefStrategyOfficerofMYOB (SoldtoBainCapital). MrO’HanlonholdsaBA(Econ,Govt)HonsandisaFellowoftheAustralianInstituteof CompanyDirectors. Directorsince19August2026 InterestinSharesandOptionsat30 June2026 N/A Directorshipsheldinotherlisted entitiesinthelast3years Pentanet(ASX:5GG),AdisynLtd(ASX:AI1)andFelixGroupHoldings(ASX:FLX) ION VIDEO LIMITED · ASX: IOV · ACN 149 796 332 ION.VIDEO · PAGE 13 OF 68 DIRECTORS’ REPORT ANNUAL REPORT 2026 · YEAR ENDED 30 JUNE 2026 Directors’Reportcontinued ClarkKirby Non-ExecutiveDirector Experience ClarkKirbyistheChiefExecutiveOfficerofVillageRoadshowGroup.Clarkwas previouslyCEOofVillageRoadshowThemeParksandVillageRoadshowStudios. PriortojoiningVillageRoadshow,ClarkworkedforUBSInvestmentBankinthe TechnologyandMediaM&AteaminMelbourne,SydneyandNewYork. MrKirbyholdsaMasterofAppliedFinanceandInvestmentfromMacquarieUniversity andaBachelorofInformationTechnologyfromBondUniversity. Directorsince19August2026 InterestinSharesandOptionsat30 June2026 220,000shares Directorshipsheldinotherlisted entitiesinthelast3years Nil RemunerationReport–Audited Theinformationprovidedintheauditedremunerationreportincludesremunerationdisclosuresthatarerequiredunderthe CorporationsAct2001andotherrelevantrequirements.Thesedisclosureshavebeenaudited. Keymanagementpersonnel NamesandpositionsheldofGroupkeymanagementpersonnel(KMP)inofficeatanytimeduringtheyearare: Key Management Person Position Brent Jones Non-Executive Chairman Andrew Demetriou Non-Executive Director Anthony Baker CEO (appointed 12 November 2025) and Executive Director (appointed 4 February 2026) Anthony O’Hanlon Executive Director (appointed 4 February 2026) Giuseppe Rinarelli Director (appointed 6 October 2025 and resigned 4 February 2026); CFO throughout the financial year and Company Secretary resigned 1 December 2025. Ben Taverner CEO (appointed 1 February 2025 and resigned 12 November 2025) Gerard Bongiorno Non-Executive Chairman (resigned 6 October 2025) John Wallace Non-Executive Director (resigned 7 July 2025) Barry McNeill Non-Executive Director(resigned 6 August 2025) Principlesusedtodeterminethenatureandamountofremuneration TheBoarddeterminestheappropriatenatureandamountofremuneration.Theboardmayreceiveadvicefromindependent remunerationconsultantstoensureremunerationlevelsareappropriateandinlinewiththemarket.Nosuchadvicewassought fortheyearended30June2026.TheBoardensuresthattheexecutiverewardsatisfiesthefollowingcriteriaforgoodreward governancepractice: competitivenessandreasonableness; acceptabilitytoshareholders; alignmentofexecutiveremunerationtoperformance; transparency;and capitalmanagement. ION VIDEO LIMITED · ASX: IOV · ACN 149 796 332 ION.VIDEO · PAGE 14 OF 68 DIRECTORS’ REPORT ANNUAL REPORT 2026 · YEAR ENDED 30 JUNE 2026 Directors’Reportcontinued RemunerationReport–Auditedcontinued Theframeworkprovidesforamixoffixedandvariableremuneration.Therewasnotargetmixoffixedorvariableremuneration setinthecurrentyear.Thevariableremunerationcomprisesshare-basedpaymentcompensationandanydiscretionary performancebonuspaymentbenefits. Consequencesofperformanceonshareholderwealth InconsideringtheGroup’sperformanceandbenefitsforshareholderwealth,thedirectorshaveregardtothefollowingindicesin respectofthecurrentfinancialyearandpriorfinancialperiod. 2026 2025 2024 2023 2022 (Loss) attributable to owners of the company ($4,515,913) ($5,006,363) ($4,789,129) ($5,237,231) ($8,999,225) Change in share price $0.43 ($0.10) ($0.20) ($0.10) ($1.70) Closing share price $0.53 $0.10 $0.20 $0.40 $0.50 LossamountshavebeencalculatedinaccordancewiththeAustralianAccountingStandards(AASBs). TheoperatinglossincludessignificantexpendituresincurredonthecontinueddevelopmentoftheGroup’sproprietary softwaretechnology. Non-executiveDirectorsandexecutiveDirector Feesandpaymentstonon-executiveDirectorsandtheexecutiveDirectorsreflectthedemands,whicharemadeon,andthe responsibilitiesof,theDirectors.Non-executiveDirecto