New Risk • May 15
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (30% accrual ratio). Reported Earnings • May 15
First quarter 2026 earnings released: EPS: RM0.012 (vs RM0.008 in 1Q 2025) First quarter 2026 results: EPS: RM0.012 (up from RM0.008 in 1Q 2025). Revenue: RM37.3m (up 10% from 1Q 2025). Net income: RM9.04m (up 45% from 1Q 2025). Profit margin: 24% (up from 19% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 13% per year. Announcement • Apr 29
Pappajack Berhad, Annual General Meeting, Jun 16, 2026 Pappajack Berhad, Annual General Meeting, Jun 16, 2026, at 14:30 Singapore Standard Time. Location: four points by sheraton puchong, the heron (function room), level 2, puchong financial corporate office (pfcc), jalan puteri, 47100 puchong, selangor darul ehsan, Malaysia 
