Announcement PDF Linius Technologies Limited (ASX: LNU) ACN 149 796 332 Level 2, 431 St Kilda Road, Melbourne VIC 3004 Australia t: +61 3 8672 7186 / e: info@linius.com ASX Announcement | 27 November 2025 CEO Letter to Shareholders Melbourne, Australia – 27 November 2025: Linius Technologies Limited (ASX: LNU) (Linius or Company) – the only cloud-based solution that unlocks the value of video archives with immersive, deeply personalised viewer experiences via its Linius Video Services (LVS) platform – has today released the attached letter from the Company’s recently appointed CEO, Anthony Baker to shareholders regarding a number of questions from shareholders seeking clarity on the direction of the company, the circumstances that led to the recent changes in leadership, and the Company’s plans for rebuilding value. This announcement has been authorised for release to ASX by the Linius Board of Directors. About Linius Technologies Limited: Linius’ purpose is to unlock the value of the world’s video, creating immersive, deeply personalised viewing experiences. For the first time, we make it possible to find, curate, and utilise the valuable moments across vast libraries of video, enabling viewers to create an infinite amount of personalised video compilations on-the-fly, providing the most relevant content to each viewer. Our patented Video Virtualisation Engine™ (VVE) turns big, bulky video files into lightweight, searchable data that is enriched with AI and ML, making it easy and efficient for users to find and share what matters to them. Creators and owners of video can drive greater viewing and monetisation of their video assets. For more on Linius Technologies, visit www.linius.com For further information, please contact: Giuseppe Rinarelli, Company Secretary, +61 (0)3 8672 7186 or ir@linius.com Linius Technologies Limited (ASX: LNU) ACN 149 796 332 Level 2, 431 St Kilda Road, Melbourne VIC 3004 Australia t: +61 3 8672 7186 / e: info@linius.com 27 November 2025 Dear Shareholder Over the last several weeks and post our AGM held earlier this week, the company’s new Chairman (Brent Jones) and I (Anthony Baker, CEO) have received a number of questions from shareholders seeking clarity on the direction of the company, the circumstances that led to the recent changes in leadership, and our plans for rebuilding value. We welcome this engagement. Transparency and accountability are central to how we intend to operate, and we believe shareholders deserve direct, honest answers—particularly given the challenges of the past. Rather than respond to each enquiry individually, we have compiled the most common and significant questions below, along with our responses. We hope this format provides a clear and comprehensive overview of where we are, how we got here, and where we are going. We encourage you to read this document in full. If you have further questions, we are committed to an open dialogue and will make ourselves available to shareholders who wish to engage directly. Question 1: You and the new Chairman, Brent Jones, have stepped in to reset Linius. Why now? Both Brent and I have separately and independently invested into the company over several years. In May this year, we were each approached by the company to invest further into the business. Regrettably, due to the number of missed operational deadlines and targets, Brent and I no longer believed that the then management and board could deliver. As the two largest investors in the company, the choice was stark: effectively walk away from our investment and accept we will most probably lose it all or take decisive action and reset the business. We chose to act because we believe in the underlying patents behind the technology and the opportunities that these present, and the only way to achieve this was through a full reset. Question 2: What, in your view, went wrong and forced such a reset? The facts speak plainly. Approximately $70 million of losses, heavy share dilution, and a lack of meaningful revenue indicate that management and the board failed to execute. Our view is that, following the founder’s exit from the business, the leadership did not truly understand the technology or the problem it solves and were unable to develop and subsequently take a commercially viable product to market and scale the business. Strategy drifted from one concept to the next without a clear market focus or strategy. The company lost sight of what the technology is and who it serves. Question 3: When you arrived, what issues stood out immediately? There was no apparent cost control, focus or strategy. The company had no genuine technology experts in-house, yet it was surrounded by unnecessary consultants. Linius Technologies Limited (ASX: LNU) ACN 149 796 332 Level 2, 431 St Kilda Road, Melbourne VIC 3004 Australia t: +61 3 8672 7186 / e: info@linius.com Question 4: What were your first actions to stabilise the company? We cut costs and negotiated settlements on outstanding liabilities. We removed unnecessary consultants who we believed lacked the necessary expertise the company needed. We put in place basic working practices and controls, sharpened the focus, and began building a team of genuine experts who believe in the business and its unrealised potential. Question 5: How does the technology stand today compared with when the patents were first filed? The technology is more relevant today than at any point since the patents were filed. Video now accounts for the majority of internet traffic, and the market is looking for platforms that treat video as data rather than as a monolithic file. AI has shifted the demand profile decisively in our favour; we do not compete with AI, AI complements what we do and acts as a force multiplier. We are currently assembling a team of specialists who understand video, exactly as envisaged in the original patents. Candidly, our current production systems only touch a fraction of what those patents enable. The priority is to align the business fully with that foundation and focus execution accordingly. Question 6: Was your decision to invest driven more by belief in the technology or in your ability to execute a turnaround? Both. Without conviction in the patents, we would not have invested so heavily to begin with. At the same time, Brent and I have led several turnarounds and scaled multiple companies. The timing was right for us to apply that experience here. Question 7: How much “skin in the game” do you have, and are you taking salaries? Each of us has invested several millions of dollars and, like most shareholders, our investments are heavily underwater. Brent holds an interest in the company of around 18% and I hold around 16%, in each case inclusive of all convertible notes currently held and approved for issue. Our salaries are modest by industry standards, and by-in-large we have reinvested those back into the business where listing rules permit. Question 8: What is Linius’ standing with customers today? We discovered significant issues with every customer, particularly around product build and service delivery, and are continuing to work through these issues. We are making progress as evidenced by recently announced contract renewals. Our top two priorities are rebuilding confidence internally and externally. Internally, this is well underway, and we will provide updates on this in the coming weeks. Externally, customers aren’t entirely happy. Our philosophy is to have open and honest engagement with customers, avoid promises we cannot meet, and deliver on what we say we will deliver. We are reviewing the entire business and implementing the right strategy with defined timelines. Once finalised, we will update the market so that we can be held accountable. Linius Technologies Limited (ASX: LNU) ACN 149 796 332 Level 2, 431 St Kilda Road, Melbourne VIC 3004 Australia t: +61 3 8672 7186 / e: info@linius.com Question 9: How will you demonstrate progress quickly and give investors confidence? A turnaround begins with cost control and the right people. We are recruiting best-in-class technology experts and supporting them with an external team to maximise the opportunity without damaging the cost base. We will execute against a focused strategy and provide clear, consistent updates. Question 10: Shareholders have been diluted for years. Do you expect to have to raise more funds? We understand the dilutionary impact of raising additional equity capital and the associated frustration of shareholders. Whilst this has been said before, by the previous board, I can confirm the business is now fully funded until at least the end of FY26 following approved convertible note issues and two recently announced strategic placements. Costs are now under control and almost all liabilities—which were far more critical than we understood to be the case—have been addressed. We encourage the investment community, including current and previous shareholders, to have another look at the business. Question 11: Will you meet shareholders, improve communication, and show the technology working? We recognise that this was a weakness in the past. We are engaging investor-relations firms and will increase the cadence and quality of communication. We will demonstrate the technology and its potential through webinars and are willing to meet or speak with any shareholder. Question 12: With a new name and brand direction, what do you most want shareholders to hear from you now? We believe in the patents that underpin the technology and the size of the opportunity. We are not the business of the past. We are realigning around the core patents. The era of scatter-gun activity is over; focus has been restored and will remain the discipline that guides every decision. Our team is finalising a coherent strategy for the business that, once completed, we look forward to sharing with shareholders and industry participants alike. Yours sincerely Anthony Baker Chief Executive Officer