MediaZest Plc – Final Results

[A close-up of a logo]

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms partof UK domestic law by
virtue of the European Union (Withdrawal) Act 2018 («MAR»), and is disclosed in
accordance with the Company’s obligations under Article 17 of MAR.

27 February 2026

MediaZest Plc

(«MediaZest», the «Company», or the «Group»)

Final Results

MediaZest plc (AIM: MDZ), the creative audio-visual solutions provider,
announces its consolidated audited results for the year ended 30 September 2025
(«FY25″), a period of considerable growth, with a substantial improvement in
EBITDA performance and an enhanced cash position following a strong trading
performance in FY25.

Financial Highlights:

Year ended 30 September 2025 FY25 FY24
£’000 £’000
Revenue 4,154 3,074
Gross Profit 2,346 1,595
Gross Margin 56% 52%
EBITDA1 331 14
Profit after tax/(Loss) 98 (214)
Earnings per share (pence)/(Loss) 0.0058 (0.0133)
Cash 99 64

1EBITDA is defined as (Loss)/Profit before tax adding back finance costs,
depreciation and amortization. See Accounting Policies for reconciliation from
reported results to EBITDA.

Operational Highlights:

· Delivered a strong last four months of FY25, with installations and roll out
programmes with long-standing clients within the year including:

· First Rate – significant new contract signed, providing digital currency
board installations for First Rate’s clients
· Pets at Home – delivered solutions in multiple stores, including ongoing
support and maintenance and content services
· Lululemon Athletica – LED and audio solutions were provided for stores in
Berlin, Milan, and the new London flagship store in Regent Street
· Arc’teryx – delivered LED solutions and digital community screens in six
European Flagship stores – Chamonix, Milan, Stockholm, Manchester, Parndorf
Austria and Bicester Village in Oxfordshire.
· Kia – work continued in Ireland, the Netherlands and Slovakia with digital
signage solutions and associated ongoing support services delivered to
additional dealerships in each territory
· Hyundai – delivered digital signage solutions to support and promote EV
ranges in dealerships within the UK
· Duty Free – worked across the globe in multiple locations to support a large
brand within these stores including digital signage solutions and local support
hubs

· Appointment of new Chairman, Keith Edelman, in June 2025

Post Year-End Highlights:

· Successful restructuring of debt obligations, led by our new Chairman,
securing agreement from loan holders to write off £529,000 worth of interest and
leave a principal sum of £785,609 to repay over the next six years
· Raised gross proceeds of £215,000 with new and existing investors, whilst
bringing on Dr Graham Cooley as a new significant shareholder to the Company

Geoff Robertson, Chief Executive Officer of MediaZest, commented:»We are
extremely pleased with the strong performance the Company has delivered in FY25,
working with our long-standing clients. It’s been pleasing to see the strong
long-term demand continue across all three core sectors with our outlook for
FY26 remaining strong, targeting more year-on-year growth and further increased
profitability in FY26.»

Notice of Investor Presentation

Geoff Robertson, Chief Executive Officer, and Keith Edelman, Chairman, will
provide a live presentation in relation to the Company’s Final Results via the
Investor Meet Company platform on Wednesday 11 March 2026 at 11am GMT. The
presentation is open to all existing and potential shareholders. Investors can
sign up to Investor Meet Company for free and register
here:https://www.investormeetcompany.com/mediazest-plc/register
-investor (https://urldefense.proofpoint.com/v2/url?u=https
-3A__www.investormeetcompany.com_mediazest-2Dplc_register-2Dinvestor&d=DwMF
-g&c=euGZstcaTDllvimEN8b7jXrwqOf
-v5A_CdpgnVfiiMM&r=eUQCpKRgmyizgMEXgG580c5fGnbw8kiINiPNwtmgzAE&m=ASsdUQ4XO3UMQ5C5
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-Se2MNYwJ4Jg254NPfC5Zn&s=hnic00dtsF3yVOQXGOrSZ_1eiBcxz6uNHVwdqv5rMpA&e=).

For further information please contact:

MediaZest Plc www.mediazest.com
Geoff Robertson, via Walbrook PR
Chief Executive
Officer

SP Angel Corporate Tel: +44 (0)20 3470 0470
Finance LLP (Nomad)
David Hignell / Adam
Cowl

Hybridan LLP Tel: +44 (0)20 3764 2341
(Corporate Broker)
Claire Louise Noyce

Oberon Capital Tel: +44 (0)20 3179 5300
(Corporate Broker)
Nick Lovering / Adam
Pollock

Walbrook PR (Media & Tel: +44 (0)20 7933 8780 or [email protected]
Investor Relations)
Paul McManus / Mob: +44 (0)7980 541 893 / +44 (0)7584 391 303 /
Lianne Applegarth
+44 (0)7407 804 654
Alice Woodings

About MediaZest (www.mediazest.com)

MediaZest is a creative audio-visual solutions provider that specialises in
delivering innovative digital signage and audio systems to leading retailers,
brand owners and corporations. The Group offers an integrated service from
content creation and system design to installation, technical support, and
maintenance. MediaZest was admitted to the London Stock Exchange’s AIM in
February 2005.

MediaZest’s new AIM rule 26 investor site is now available to view on the
Company website here: https://www.mediazest.com/about/investor-relations/

MediaZest plc

Chairman’s Statement

for the Year Ended 30September2025

Introduction

The Board presents the consolidated audited results for the year ended 30
September 2025 («FY25») for MediaZest plc («MDZ», or the «Group», or the
«Company») and its wholly owned subsidiary companies MediaZest International Ltd
(«MDZI») and MediaZest International BV («MDZBV») which together constitute the
Group.

About MediaZest

MediaZest is a creative audio-visual solutions provider that specialises in
delivering innovative digital signage and audio systems. The Group offers an
integrated service from content creation and system design to installation,
technical support, and maintenance and operates in three core sectors:

1. Retail – Major high street retail brands continue to transition to digital
signage displays including window displays, self-service kiosks and large-scale
displays, such as LED and videowalls.

2. Automotive – The role of technology in automotive showrooms has also evolved,
with major automotive brands increasingly using audio-visual solutions on their
sites.

3. Corporate Offices – Typical projects in this sector include hybrid meeting
rooms, video conferencing technology and innovation centres.

During the last financial year, the Group worked with customers such as Pets at
Home, Lululemon Athletica, KIA, Hyundai, First Rate Exchange Services (‘First
Rate’), Wincanton, Harrods, Arc’Teryx and Castore, whilst also completing
multiple projects for a large consumer brand in Duty Free Shops across Europe,
Middle East, Africa and Asia Pacific.

Overview

The Board is delighted to report that the trading performance of the Group has
improved significantly over the last year, as a result of new business wins in
recent months and continued roll out programmes with existing clients. Recurring
revenue streams grew strongly due to these wins.

MediaZest has maintained year-on-year revenue growth, delivered a return to net
profitability, with a substantial improvement in EBITDA profit (see definition
in Accounting Policies), and has further improved the Company’s overall cash
position following a strong trading performance in FY25.

Post year end, the Group significantly improved its balance sheet by
successfully restructuring its debt obligations, securing agreement from loan
holders to write off £529,000 worth of interest and leave a principal sum of
£785,609 to repay over the next six years. This agreement is detailed below and
includes cessation of interest charges on these principal amounts moving
forwards.

Financial Review

The augmented FY25 trading performance reflects the roll out of key client
projects during the year, including new business wins. Group revenues rose 35%
to £4.154m (FY24: £3.074m).

At the beginning of the financial year, the Board targeted year-on-year revenue
growth, alongside a return to net profitability and an increase in EBITDA
profitability, and we are pleased to deliver against all these objectives.

We have also seen further growth in longer-term recurring revenue contracts,
having concluded the financial year with a recurring annual run rate of
approximately £1.2m, up from £0.9m as at September 2024.

Year ended 30 September FY25 FY24 FY23 FY22
Revenues (£’000) 4,154 3,074 2,335 2,820

Group results for the year and Key Performance Indicators («KPIs»):

· Revenue for the year increased 35% to £4,154,000 (FY24: £3,074,000)
· Gross profit increased 47% to £2,346,000 (up from FY24: £1,595,000)
· Improving gross margin of 56% (FY24: 52%)
· Administrative expenses excluding depreciation and amortisation increased to
£2,015,000 (FY24: £1,582,000)
· EBITDA profit increased strongly to £331,000 (FY24: £14,000)
· Profit After Tax improved to £98,000 (FY24: £214,000 Loss)
· Basic and fully diluted earnings per share 0.0058 pence (FY24: 0.0133 pence
loss per share)
· Net assets of the Group were £689,000 (FY24: £591,000), with further
improvement post-year end following the debt restructuring detailed below
· Cash in hand at 30 September 2025 was £99,000 (FY24: £64,000)

Operational Review

FY25 was a strong year for the Company, with our best ever profit performance
and multiple ongoing client engagements delivered and contracted into future
years.

The last four months of FY25 were particularly fruitful across the client base,
continuing installations and roll out programmes with long-standing clients
including Pets at Home, First Rate, Lululemon Athletica, Arc’teryx and Kia,
generating approximately £1.8m in revenue, with a low-six figure net profit
after tax.

The Group announced a significant new contract with First Rate in July 2025 to
provide digital currency board installations for First Rate’s clients. This
included deployments across approximately 1,200 locations in the UK representing
a significant investment by First Rate over the next five years in its business,
predominantly delivered in the next 24 months. The roll out of this solution
follows the successful completion of a «proof of concept» project with First
Rate, which the Company announced in November 2024. First Rate and MediaZest are
working together to develop and deploy solutions for multiple First Rate clients
as part of this partnership, as First Rate continues to deliver innovative
solutions to those clients as the leading foreign currency provider in the UK.

Throughout the year we continued to deliver solutions in multiple stores for
Pets at Home, including ongoing support and maintenance and content services.
LED and audio solutions were provided for Lululemon Athletica stores in Berlin,
Milan, and the new London flagship store in Regent Street as MediaZest continues
to work with them across Europe.

For Arc’Teryx we delivered LED solutions and digital community screens in six
European Flagship stores – Chamonix, Milan, Stockholm, Manchester, Parndorf
Austria and Bicester Village in Oxfordshire.

Our work with KIA continued in Ireland, the Netherlands and Slovakia with
digital signage solutions and associated ongoing support services delivered to
additional dealerships in each territory. We continued to work with Hyundai in
the UK, delivering digital signage solutions to support and promote their EV
ranges in dealerships and providing ongoing support for several solutions in the
dealer network.

The Group also undertook work in Duty Free stores across much of the globe to
support a large brand within these stores including digital signage solutions
and local support hubs and installations using our partner network for those
installs outside of EMEA.

In the corporate market, we deployed advance video conferencing solutions to a
range of clients, including a refurbishment and refresh of the UK HQ of a global
luxury fashion brand in Summer 2025.

New Chairman

In June 2025, the Group announced the appointment of Keith Edelman as Chairman
of the Company with immediate effect. Keith succeeded Lance O’Neill, who retired
from the Board, having been Chairman for over 18 years. Keith has over 40 years
industry experience, working with FTSE 100, 250, AIM-listed and privately held
companies across retail, hospitality, infrastructure, finance, sport, and
digital sectors.

Debt Restructure

Post year end, the Group has successfully restructured its debt obligations,
having actively engaged with all its key debt holders (the «Debt Holders»).

MediaZest has also repaid the invoice discounting facility in full during the
year and reached an agreement (the «Agreement») with shareholders and/or Debt
Holders on existing loans and outstanding interest.

The Agreement, which was announced on 9 December 2025, will write off £529,000
worth of interest and leave a principal sum of £785,609 to repay over the next
six years, concluding in FY31. Importantly, interest charges have ceased moving
forwards. This restructuring will allow the Group to invest further in its
improvement and growth.

Fundraising

Post year end, an equity fundraising in February 2026 raised £215,000 before
fees via the issue of 358,334,950 ordinary shares of 0.01p in the capital of the
Company to new and existing investors at a price of 0.06p per placing share.

Outlook

The Board continues to believe that the outlook for the new financial year,
which has already begun exceptionally strongly, is encouraging, building on the
success of FY25.

Long-term project roll-outs with existing customers, notably First Rate and our
Duty Free client, are amongst several confirmed substantial projects in the new
financial year. Recurring revenue streams continue to grow accordingly to
support these projects.

Our Dutch subsidiary continues to perform well and attract client interest,
whilst we consistently seek new opportunities in Europe.

As previously stated, we believe that adding scale to the current operational
business via potential M&A activity would unlock shareholder value. The Board
therefore continues to evaluate potential acquisition targets that would further
enhance the Group’s business and be value accretive.

The Board remains confident in the outlook for the Group, and will target
further year-on-year growth and increased profitability in FY26. The Group is
targeting revenue for the year ending 30 September 2026 of £5 million for the
first time in its history and associated profit after tax in excess of £250,000.

Keith Edelman

Chairman

26 February 2026

Consolidated Statement of Profit or Loss

for the Year Ended 30 September 2025

2025 2024
CONTINUING OPERATIONS £’000 £’000
Revenue 4,154 3,074
Cost of sales (1,808) (1,479)

GROSS PROFIT 2,346 1,595
Administrative expenses (2,123) (1,655)

OPERATING PROFIT/(LOSS) 223 (60)
Finance costs (120) (151)

PROFIT/(LOSS) BEFORE INCOME TAX  103 (211)

Income tax (5) (3)

PROFIT/(LOSS) FOR THE YEAR  98 (214)

Profit/(loss) attributable to:
Owners of the parent 98 (214)

Earnings per share expressed
in pence per share:
Basic 0.0058 (0.0133)
Diluted 0.0058 (0.0133)

Consolidated Statement of Profit or Loss and Other Comprehensive Income for the
Year Ended 30 September 2025

2025 2024
£’000 £’000

PROFIT/(LOSS) FOR THE YEAR 98 (214)

OTHER COMPREHENSIVE INCOME – –

TOTAL COMPREHENSIVE INCOME FOR THE YEAR  98 (214)

Total comprehensive income attributable to:
Owners of the parent 98 (214)

Consolidated Statement of Financial Position

30 September 2025

2025 2024
ASSETS £’000 £’000
NON-CURRENT ASSETS
Goodwill 2,772 2,772
Owned
Intangible assets 9 –
Property, plant and equipment 90 56
Right-of-use
Property, plant and equipment 284 355
3,155 3,183

CURRENT ASSETS
Inventories 195 76
Trade and other receivables 1,641 649
Cash and cash equivalents 99 64
1,935 789

TOTAL ASSETS 5,090 3,972

EQUITY

SHAREHOLDERS’ EQUITY
Called up share capital 3,686 3,686
Share premium 5,331 5,331
Share option reserve 146 146
Retained earnings (8,474) (8,572)

TOTAL EQUITY 689 591

LIABILITIES

NON-CURRENT LIABILITIES
Financial liabilities – borrowings and
lease liabilities 448 492

CURRENT LIABILITIES
Trade and other payables 2,670 1,412

Financial liabilities – borrowings and
lease liabilities 1,283 1,477

3,953 2,889

TOTAL LIABILITIES 4,401 3,381

TOTAL EQUITY AND LIABILITIES 5,090 3,972

Consolidated Statement of Changes in Equity for the Year Ended 30 September 2025

Called up Share
share Retained Share option Total
capital earnings premium reserve equity
£’000 £’000 £’000 £’000 £’000
Balance at 1 October 2023 3,656 (8,358) 5,244 146 688
Changes in equity
Issue of share capital 30 – 87 – 117
Total comprehensive income – (214) – – (214)

Balance at 30 September 2024 3,686 (8,572) 5,331 146 591

Changes in equity
Total comprehensive income – 98 – – 98
Balance at 30 September 2025 3,686 (8,474) 5,331 146 689

Consolidated Statement of Cash Flows for the Year Ended 30 September 2025

2025 2024
£’000 £’000
Cash flows from operating activities
Cash generated from operations 478 (108)

Net cash from operating activities 478 (108)

Cash flows from investing activities
Purchase of intangible fixed assets (10) –
Purchase of tangible fixed assets (70) (28)

Net cash (used in) investing activities (80) (28)

Cash flows from financing activities
Other loans receipt/(repayment) 30 13
Shareholder loan net (repayment)/receipt (79) 84
Bounce back loan (repayment) (10) (8)
Payment of lease liabilities (71) (7)
Proceeds of share issue – 120
Share issue costs – (3)
Invoice financing (repayment) (203) –
Interest paid (30) (39)

Net cash (used in)/from financing activities (363) 160

Increase in cash and cash equivalents  35 24
Cash and cash equivalents at beginning of year  64 40

Cash and cash equivalents at end of year  99 64

Notes to the Group Preliminary and Final Results Statement for the Year Ended 30
September 2025

STATUTORY INFORMATION

MediaZest plc is a public limited company which is listed on the AIM market of
the London Stock Exchange, limited by shares; domiciled and incorporated in
London, United Kingdom, under company registration number 05151799. The
principal place of business, as well as registered office, is 9 Woking Business
Park, Albert Drive, Woking, Surrey GU21 5JY.

ACCOUNTING POLICIES

Basis of preparation

The Group financial information set out in this Preliminary and Final Results
Announcement does not constitute the Group’s statutory financial statements for
the years ended30 September 2025 or 2024. The financial information has been
extracted from the Group’s statutory financial statements for the years ended30
September 2025 and 2024. The auditors have reported on those financial
statements; their report was unqualified, did not include references to any
matters to which the auditors drew attention by way of emphasis and did not
contain a statement under Section 498(2) or (3) of the Companies Act 2006.

The statutory accounts for the year ended30 September 2025 will be filed with
the Registrar of Companies. The statutory accounts for the year ended30
September 2024 have been filed with the Registrar of Companies. The report of
the auditors on those statutory accounts was also unqualified, and also did not
contain a statement under section 498(2) or (3) of the Act.

Alternative Performance Measure – EBITDA

This is defined as Profit/(Loss) before Tax, adjusted for finance costs,
depreciation and amortisation. The company uses this as a valuable measurement
of performance after administrative expenses are deducted, but before
depreciation, amortisation, finance costs and tax are considered.

Operating profit/(loss)

This is defined as Profit before Tax, adjusted for finance cost.

These can be reconciled as follows:

2025 2024
2025 2024

£’000 £’000
Profit/(loss) on ordinary activities before taxation 103 (211)
Finance costs 120 151

Operating profit/(loss) 223 (60)
Administrative expenses – depreciation & amortisation 108 74

EBITDA 331 14

1. Going concern

The Group made a profit after tax of £98,000 and has net current liabilities of
£2,018,000 at year end. The financial statements have been prepared on a going
concern basis, which the Directors consider appropriate based on the following
key judgment:

Critical judgment – basis for going concern

Management has concluded that the Group will continue to meet its liabilities as
they fall due for at least 12 months from the date of approval of these
financial statements. This assessment is based on contracted revenue, secured
extensions of existing client projects, recurring income streams, and the impact
of the debt restructuring and equity fundraising completed after the year end.

The Directors have considered financial projections covering the 12-month period
from the date of approval of the accounts, which incorporate:

1. revenue from contracts already won or contractually committed

2. the continuation of major roll-out projects with existing clients

3. recurring revenues that increased significantly during 2026.

Post year-end financing and debt restructuring

Following the year end, the balance sheet was significantly strengthened through
both a restructuring of shareholder debt and an equity fundraising completed in
February 2026. Under the restructuring, £529,000 of accrued interest was written
off and the remaining principal of £785,609 will be repaid over six years,
concluding in FY31. Should there be a default in the agreed payment plan, and
the Company fails to remediate with the shareholder, the balance becomes
repayable on demand. Interest charges ceased from 1 May 2025. These actions
provide improved liquidity and the ability to invest in operational delivery and
growth.

Management has engaged closely with key clients to understand their
implementation plans for the coming year, particularly in relation to ongoing
roll-outs and confirmed projects scheduled for delivery in the next 12 months.

Having reviewed the forecasts and the associated risks and sensitivities, the
Directors are satisfied that the Group has adequate financial resources to
continue operating for the foreseeable future. Accordingly, the financial
statements are prepared on a going concern basis.

The financial statements do not include any adjustments that would arise if the
going concern basis were inappropriate.

2. Segmental reporting

Revenue for the year can be analysed by customer location as follows:

2025 2024
£’000 £’000
UK and Channel Islands 3,127 2,652
Rest of Europe 784 422
Rest of World 243 –

4,154 3,074

An analysis of revenue by type is shown below:
2025 2024
£’000 £’000
Hardware and installation 2,933 2,529
Support and maintenance – recurring revenue 1,221 453
Other services (including software solutions) – 92

4,154 3,074

Analysis of revenue recognition
2025 2024
£’000 £’000
Recognised at a point in time 2,933 2,573
Recognised over time 1,221 501

4,154 3,074

Analysis of future obligations:
2025 2024
£’000 £’000
Performance obligations to be satisfied in the next year 1,774 402
Performance obligations to be satisfied in later years – –
1,774 402

Segmental information and results

The Chief Operating Decision Maker (‘CODM’), who is responsible for the
allocation of resources and assessing performance of the operating segments, has
been identified as the Board. IFRS 8 requires operating segments to be
identified on the basis of internal reports that are regularly reviewed by the
Board. The Board have reviewed segmental information and concluded that there is
only one operating segment.

The Group does not rely on any individual client, however there are three
clients who have contributed over 10% of total revenue. The following revenues
arose from sales to the Group’s largest client, which account for 20% of overall
revenue:

2025 2024
£’000 £’000
Goods and services 514 503
Service and maintenance 348 168

862 671

3. EARNINGS PER SHARE

2025 2024
Profit/(loss) £’000 £’000
Profit/(loss) for the purposes of basic and diluted earnings 98 (214)
per share being net loss attributable to equity shareholders

2025 2024
Number of shares Number Number
Weighted average number of ordinary shares 1,696,425,774 1,615,055,911
for the purposes of basic earnings per
share

Number of dilutive shares under option or –          –
warrant

2025 2024
Weighted average number of ordinary shares 1,696,425,774 1,615,055,911
for the purposes of dilutive loss per share

Basic earnings per share is calculated by dividing the profit after tax
attributed to ordinary shareholders of £98,000 (2024 loss: £214,000) by the
weighted average number of shares during the year of 1,696,425,774 (2024:
1,615,055,911).

The diluted profit per share is identical to that used for basic profit per
share as the options are «out of the money» and therefore anti-dilutive.

4. RECONCILIATION OF PROFIT/(LOSS) BEFORE INCOME TAX TO CASH GENERATED FROM
OPERATIONS

Group
2025 2024
£’000 £’000
Profit/(loss) before income tax 103 (211)
Depreciation charges 108 74
Tax on ordinary activities – (3)
Finance costs 120 151

(Increase)/decrease in inventories 331 11
Increase in trade and other receivables (119) 21
Increase in trade and other payables (992) (244)
1,258 104
Cash generated from operations 478 (108)

5. CASH AND CASH EQUIVALENTS

2025 2024
£’000 £’000
Cash in hand 99 64

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