New Risk • Jun 16
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 24% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (17% average weekly change). Minor Risks Shareholders have been diluted in the past year (24% increase in shares outstanding). Revenue is less than US$5m (AU$1.9m revenue, or US$1.4m). Market cap is less than US$100m (AU$20.3m market cap, or US$14.3m). Announcement • Jun 16
Janus Electric Holdings Limited Announces Management Changes Janus Electric Holdings Limited had appointed Ms. Zorana Bull as Senior Advisor to the Board. Ms. Bull is an Oxford-educated engineer and experienced professional director with deep expertise in transport, infrastructure, engineering and the public sector. She is a former Global Partner and Australian Chief Operating Officer at PA Consulting Group, and is currently a Non-Executive Director of TasPorts, Jet Travel Australia Pty Ltd. and HealthShare NSW and is managing partner at Altura Partners. Ms. Bull has served on a number of commercial boards across Federal and State Government and the private sector, with experience spanning ports, transport infrastructure and logistics operators. The company appointed Ms. Brooke Ditzler as Chief Operating Officer, effective June 22, 2026. Ms. Ditzler is an enterprise transformation and people strategy executive with deep experience building and scaling businesses across complex, multi-jurisdictional environments. Ms. Ditzler brings more than 15 years of senior leadership experience, including seven years at Amazon across Europe, the Middle East, Africa and North America, where she led organisational scaling through periods of rapid growth, multiple M&A integrations and new country launches. Most recently, she led a large-scale enterprise transformation programme for a major manufacturing organisation. Earlier in her career, she held roles at Accenture, Oakley and Specialized Bicycle Components. Ms. Ditzler holds an Executive MBA from Northwestern University’s Kellogg School of Management. The company confirmed that Mr. Lex Forsyth would transition from his role as COO to focus on business development across Australia and North America. Mr. Forsyth brings 50 years of family heritage in heavy trucking, was the driving force behind Janus Electric's founding technology, and led the deployment of Australia's first solar-powered Charge & Change Station. His deep relationships across the Australian and North American freight sectors, and his hands-on knowledge of the Janus platform in the field, uniquely position him to accelerate fleet operator engagement and partnership development as the Company continues to build its commercial pipeline. Announcement • May 08
Janus Electric Holdings Limited has filed a Follow-on Equity Offering in the amount of AUD 4.7465 million. Janus Electric Holdings Limited has filed a Follow-on Equity Offering in the amount of AUD 4.7465 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 26,450,000
Price\Range: AUD 0.17
Discount Per Security: AUD 0.0102
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,470,588
Price\Range: AUD 0.17
Discount Per Security: AUD 0.0102
Transaction Features: Subsequent Direct Listing New Risk • Mar 02
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$11m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$11m free cash flow). Share price has been highly volatile over the past 3 months (21% average weekly change). Earnings have declined by 41% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 12x increase in shares outstanding). Market cap is less than US$10m (AU$14.0m market cap, or US$9.99m). Minor Risk Revenue is less than US$5m (AU$1.9m revenue, or US$1.4m). Board Change • Jan 16
Less than half of directors are independent There are 3 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Non-Executive Chairman Tony Fay is the most experienced director on the board, commencing their role in 2025. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Announcement • Jan 14
Janus Electric Holdings Limited Announces Board Changes, effective January 14, 2026 Janus Electric Holdings Limited announced changes to its Board of Directors, effective January 14, 2026 . Mr. Dennis Lin resigned as Chairman and Director, and Ms. Kristy Carr resigned as Non-Executive Director following their acceptance of executive leadership roles at a US-based company; the extensive travel commitments of these new positions preclude them from dedicating the necessary time to Janus Electric going forward. The Board appointed Mr. Tony Fay as Chairman of Janus Electric. Mr. Fay previously served as a Non-Executive Director and Chairman of the Janus Audit and Risk Committee. Tony Fay is an experienced financial markets professional with over 30 years of leadership in derivative broking businesses, and has been involved with Janus Electric since 2021. Most recently as a Non-Executive Director and Chairman of the Janus Audit and Risk Committee. Tony has held several Managing Director and CEO positions and worked with leading investment banks and brokerage firms. He played a pivotal role in establishing the Agricultural Derivatives markets in Australia and maintains a diverse investment portfolio spanning start-up ventures and listed equities. His governance experience includes serving as Chairman of Raiz Invest Ltd. (ASX:RZI) from 2018 to 2020. Janus Electric also welcomed Mr. Saurabh Jain as a Non-Executive Director. Saurabh Jain is an experienced technology and SaaS executive with a strong track record in commercialisation and business transformation. Starting his career as a software developer, he founded and scaled a startup to over 2,500 customers before its successful sale to Telstra. He later held senior leadership roles, including CEO and Executive Director of Urbanise (ASX: UBN), and has served on ASX-listed, private, and for-purpose boards. Saurabh holds an undergraduate degree and two master’s degrees, is a member of the Australian Institute of Company Directors, and is passionate about leveraging technology to drive organisational change and efficiency. Following these changes, the Janus Electric Board comprises Mr. Tony Fay – Non–Executive Chairman, Mr. Saurabh Jain – Non-Executive Director, and Ben Hutt – Managing Director. Ben Hutt is an accomplished executive with over 20 years of experience in technology, energy, and capital markets. He most recently served as CEO of Evergen, where he scaled the business from a startup to a leading energy SaaS platform, culminating in its acquisition by Intellihub in 2023. Ben previously led Search Party Group through its ASX listing and international expansion and held senior roles at Macquarie Group during the Global Financial Crisis. He holds an MBA from the Australian Graduate School of Management and a BSc (Hons) from the University of Leeds. Outside of work, Ben is an endurance athlete and a solo English Channel swimmer. 