Scott Announces FY25 Results

Scott Technology Reports Record FY25 Result

AUCKLAND NZ, [21 October 2025] - Scott Technology (NZX:SCT) today reported a record EBITDA result for the
2025 financial year, underpinned by a clear focus on higher margin contracts and the early success of its
Destination 2030 strategy. The strong second half performance more than offset a softer first half, reflecting the
benefits of strategic execution, improved order in-take, disciplined cost management and signaling long-term
growth trajectory.
Business Highlights
• Record EBITDA of $31.5m driven by strong second half performance and focus on higher margin contracts.
• Destination 2030 strategy, a plan for sustainable profitable growth centered on a customer-first mindset.
• Forward work grows to $169m, up 6% or $160m from FY24.
• New contract wins including $44m in the Appliance Domain across the Americas.
• On target for 30% lower emissions by 2030, with net Scope 1 and 2 GHGs down 9.1% from FY22 baseline .
• Final dividend declared of 5 cents per share (unimputed), taking the total full year dividend to 8 cents per share.

Financial Highlights
• Group revenue: $275m in-line with FY24.
• Second half revenue growth of 13% offsetting softer first half.
• Service revenue contribution: $80m, 29% of total revenue (up from 28% in FY24).
• Group net margin
1
improved to 29%, from 27% in FY24.
• Record EBITDA: $31.5m, up 19% from $26.4 million in FY24.
• N PAT : $ 14.2m up 84% from $7.7m in FY24.
• Operating cash flow improved to $22.3m, compared with $6.0m in FY24.
• Net debt reduced to $12.3m, reflecting improved cash flow and disciplined capital management.

Financial Performance
Group revenue for FY25 was $275m, compared to $276m in FY24. With revenue down 14% at the half-year, this
near full recovery highlights the momentum built in the second half. This was supported by multiple contract
wins across the Group and improved sales for our standard products and recurring revenue streams. Service
revenue grew to $80m, now contributing 29% of revenue up from 28% in FY24 , with a continued focus on
recurring revenue.
Group net margin improved to 29% from 27% in FY24, reflecting disciplined execution and a focus on higher-
value opportunities. EBITDA margin was also supported by a disciplined approach to costs while ensuring
sustainable future earnings.
While overall revenue remained steady at $275m, reported EBITDA reached a record $31.5m, up 19% from
$26.4m in FY24. This uplift was supported by higher-margin contracts, project execution, a reset cost base and
improved business mix. NPAT rose to $14.2m, up 84% from $7.7m in the prior year.
Operating cash flow improved significantly to $22.3m, compared with $6.0m in FY24. This was driven by securing
key new projects, effective working capital management and disciplined cost control, facilitating a 39% decrease

1
Group net margin represents total sales less the total direct and indirect costs of material and labour,
before overheads and other income or expenses.

in net debt to $12.3m. Investments were directed towards regional plant upgrades and strategic asset
developments.
Dividend: The directors have declared a final dividend of 5.0 cents per share (unimputed), taking the full year
dividend to 8.0 cents per share. The Dividend Reinvestment Plan will apply.
Strategy: Destination 2030
Scott Technology’s Destination 2030 strategy, introduced during FY25, provides a long-term blueprint for
sustainable profitable growth, targeting a revenue of $530m by 2030. This approach ensures that customer
needs are at the center of every business decision supported by Scott’s enablers; Customer First, One Scott,
Leading Edge Technology and High performing Teams.
CEO Mike Christman said, “The strategy emphasises continuous improvement, focused on Market
Understanding, Enabled Teams, Trusted Relationships and Innovation recogni sing that each cycle will drive
greater innovation and bring Scott closer to its customers. Early signs of strategy success were visible in FY25
through enhanced project governance, strengthened global position, higher margin contract wins and greater
penetration of service revenue.”
“Together these elements combine to reduce risk, improve scalability, and build resilience in earnings.”
On top of this we have set ambitious revenue and EBITDA margin targets through to 2030. Targeting $530 in
revenue and EBITDA margin of 14% by FY30. A detailed action plan has been established, including innovation
initiatives, lifecycle services, and investment in high performing teams to deliver on the company’s long-term
objectives.
Looking Forward
• Scott’s Destination 2030 strategy is already gaining traction across the business, driven by deeper
customer insight, an expanding R&D pipeline, unified global operations for scalable growth and a culture
of high performance ready to seize future opportunities.
• The record second half is an inflection point in the company’s earnings and represents an early sign of
success for the company’s new strategy .
• Forward work has improved to $169m, providing a strong platform leading into FY26. There is a strong
pipeline of future opportunities, with Destination 2030 providing a sharpened focus on converting these
into orders and growing forward work further.
• Over the coming year, we expect revenue growth and continued earnings leverage . However , we remain
cautious with the macro volatility that persists and any impact this may have on customers’ investment
plans over the next 12 months.
Additional specific domain detail is provided within the investor presentation.
ENDS

For investor enquiries please contact:

Mike Christman
Chief Executive Officer

E: mike.christman@scottautomation.com

For media enquiries please contact:

Eugene Afanasy
Communications Manager
T: +64 21 0852 4832
E: e.afanasy@scottautomation.com

About Scott

Scott delivers smart automation and robotic solutions that transform industries by making businesses safer,
more productive, and more efficient. Our diverse capability makes us the first choice for hundreds of the
world’s leading brands. With design and build operations across Australasia, China, Europe, and America and
over 100 years of engineering excellence, Scott is the global expert in automation.

Appendix
Domain Summary :

Domain Protein Mining
Materials
Handling
Appliances Other Total

FY25 ($m)
Revenue 69.4 50.9 123.1 31.4 0.4 275.3
Net Margin $ 20.4 18.8 32.0 7.9 (0.2) 79.0
Net Margin % 29% 37% 26% 25% (38%) 29%

FY24 ($m)
Revenue 59.9 48.8 127.3 36.0 4.1 276.1
Net Margin $ 16.8 17.4 28.3 10.6 0.0 73.2
Net Margin % 28% 36% 22% 30% 0% 27%

Protein:
• Overall: strong second half performance drives +16% revenue growth. A Lamb Primal sold to JBS
Cobram and trussing units sold to Maple Lodge underpinned H2.
• BladeStop: revenue up +12% on higher service and parts revenue due to increase service penetration
and a larger installed base.
• Lamb & Beef: strong close to the year following a slow start due to timing of orders. JBS Cobram lamb
primal progressing well and an installation of an existing Lamb Primal secured for Dawn Meats in UK.
• Poultry: sale to Maple Lodge in Canada and completion of Costco units during the period.
• Margin %: reflects execution on projects and increased mix of service and parts.

Mining:
• Overall: growth driven through Rocklabs standards supported by favourable commodity prices of gold
and copper.
• Rocklabs standard: strong unit sales for crushers and pulverisers. This strong period of capital
equipment growth supports service revenue in future periods.
• Modular: softer period after cycling the MRL project and timing of securing new orders. Strategic key
wins for Kinross (Alaska) and Rio Tinto (Australia).
• Energize: FY25 saw completion of the first phase of automated energy transfer systems (AETS) for
Caterpillar and kick-off of Phase Two which includes Early Learner sites.
• Margin %: improvement due to a mix of standard products. The target is for margins to trend back
towards 40%.

Materials Handling:
• Overall: strong service growth in EU is offset by the timing of large US projects. Strong margin uplift
delivers improved contribution.
• Europe & North America: strong period in Europe partnering with customers such as Ecofrost,
Clarebout, Cranswick and McCain for important projects. Following several periods of strong

equipment sales, service dr ove the incremental growth in EU. Project timing and commissioning phase
of JBS Brooks impacting North America.
• Transbotics: softer orders with customers delaying spending. Officially launched NexBot in March 2025
with promising opportunity pipeline
• Margin %: +4pts in margin with improved project and service mix
• Forward work: remains strong with a mix of orders across both Europe and North America.

Appliances
• Overall: despite the decline in revenue due to cycling a large project in prior year, it was a strong year
for Appliances delivering an important net margin contribution to the Group and securing significant
deals to set up FY26 .
• Appliances: FY25 was underpinned by Midea project in China which is in final stages of
commissioning. Prior year included large projects for Sub-Zero and GE Appliances.
• Forward work: recent wins include multiple projects worth $44m, with revenue to be recognised
across FY26 / FY27.
• Margin %: margin normalised and in-line with expectations following an elevated FY24 from a single
project.

---

SCOTT TECHNOLOGY LIMITED
Annual
Report

Scott Technology Limited
Page 2

Dividend
Final dividend: 5.0 cents per share (unimputed)
Record date: 6 November 2025
Payment date: 19 November 2025
Annual Meeting
Tuesday 2 December 2025, 3:00pm
www.virtualmeeting.co.nz/sct25
Proxies close 3:00pm, Sunday 30 November 2025
02 Performance Snapshot
03 Global Presence
03 Five-year Trend
04 Letter from the Chairman
07 Chief Executive Officer’s Address:
From Heritage to Horizon
10 Destination 2030: Delivering Sustainable,
Profitable Growth
12 Our Domains
15 Carving Out New Markets
16 Where Innovation Meets Global Flow
19 Automated Future of Mining
20 Built to Last
22 Culture and Commitment
24 Health and Safety
25 Sustainable and Profitable Growth
27 Climate-related Disclosures
47 Financial Statements
95 Independent Auditor’s Report
98 Statement of Corporate Governance
105 Statutory Information
110 Remuneration
119 Directors' Responsibility Statement
120 Directory
Dividend reinvestment plan applies to this
payment for shareholders who have elected to
receive shares in lieu of a cash dividend.
CONTENTS
Stuart McLauchlan
Chairman and Independent Director
The Board of Directors (Board) of Scott Technology
Limited is pleased to present this Annual Report
for the year ended 31 August 2025. It provides a
review of our Group performance in FY25, as well
as individual segment performance updates and
an overview of Destination 2030, our refreshed
business strategic focus.
On behalf of the Board, 21 October 2025.
John Thorman
Director
Annual Report 2025
Page 1

PERFORMANCE SNAPSHOT
Scott Technology reported a record EBITDA
1
result for the
2025 financial year, underpinned by a clear focus on higher
margin contracts and the early success of its Destination
2030 strategy. The strong second-half performance more
than offset a softer first half, reflecting the benefits of
strategic execution, improved order in-take, disciplined cost
management and signalling long-term growth trajectory.
While overall revenue remained steady at $275m, operating
EBITDA reached a record $31.5m, up 19% from $26.4m in FY24.
This uplift was supported by higher-margin contracts, project
execution, reset cost base and improved business mix.
NPAT
2
rose to $14.2m, up 84% from $7.7m in the prior year.
Group revenue for FY25 was $275m, compared to $276m in
FY24. With revenue down 14% at the half-year, this near full
recovery highlights the momentum built in the second half
of FY25. This was supported by multiple contract wins across
the Group, improved sales for our standard products and
recurring revenue streams. Service revenue grew to $80m,
now contributing 29% of revenue, up from 28%, highlighting
the benefits of a more resilient and recurring revenue base.
Group net margin
3
improved to 29% from 27% in FY24,
reflecting disciplined execution and a focus on higher-value
opportunities. Margin was also supported by a disciplined
approach to costs, while ensuring sustainable future earnings.
Operating cash flow improved significantly to $22.3m,
compared with $6.0m in FY24. This was driven by securing
key new projects, effective working capital management and
disciplined cost control, facilitating a 39% reduction in net debt
to $12.3m. Investments were directed towards regional plant
upgrades and strategic asset developments.
In recognition of the progress made by the company, the
directors declared a final dividend of 5.0 cents per share, payable
on 19 November 2025, to take the total full-year dividend to
8.0 cents. The dividend reinvestment plan will apply.

RECORD EBITDA
$31. 5m
GROUP NET MARGIN
3

PERFORMANCE

29%
STRONG FORWARD
ORDER BOOK OF
$169m
Supporting all Scott domains including,
securing additional service contracts.
9 .1%
DECREASE IN
EMISSIONS
Net Scope 1 and 2 GHG
4
emission
decrease on our FY22 Base Year levels.
Up 19% on FY24
Up 2 PTS on FY24
Scott ID25 – Investor Day outlining our long-term vision. Scott China team celebrates 10 years of operation.
1 Earnings Before Interest, Taxes, Depreciation and Amortisation.
2 Net Profit After Tax
3 Group Net Margin represents total sales less the total direct and indirect costs of materials and labour, before overheads and other income or expenses
4 Greenhouse Gas
Scott Technology Limited
Page 2

20212022202320242025
FINANCIAL$‘000s$‘000s$‘000s$‘000s$‘000s
Revenue206,030221,757267,526 276,125 275,273
Reported EBITDA20,967 23,918 29,691 26,43031,539
Net surplus / (loss) after tax8,42212,65715,4367,71714,213
Operating cash flow13,426 6,30820,2175,97222,300
Net cash / (overdraft)12,242 3,93512,396(7,325)2,056
Bank loans10,920 11,97012,47512,73914,310
Total assets194,504 206,888253,054243,980269,568
Shareholders' equity98,195 100,406113,899111,721129,274
DIVIDENDS (CENTS PER SHARE)20212022202320242025
Interim
2.04.04.0 5.0 3.0
Final
4.04.04.0 3.0 5.0
6.08.08.08.08.0
EMPLOYEES (NUMBER)20212022202320242025
New Zealand188198231 225196
Australia869566 5240
China454043 4549
Americas736059 5848
Europe230240257 269278
Total622633656 649 611
FIVE-YEAR TREND
GLOBAL PRESENCE
1 Earnings Before Interest, Taxes, Depreciation and Amortisation.
2 Net Profit After Tax
3 Group Net Margin represents total sales less the total direct and indirect costs of materials and labour, before overheads and other income or expenses
4 Greenhouse Gas
Annual Report 2025
Page 3

LETTER FROM
THE CHAIRMAN

"Destination 2030 is driving results faster
than expected and Scott’s evolution is
unmistakably under way”
On behalf of the Board of Directors, I am pleased to present
Scott Technology’s 2025 Annual Report.
This year brought a sobering reminder of our responsibility,
the loss of a dear colleague, Michael Sherry, at our Dunedin
site in April 2025 has deeply affected the Scott community.
Safety remains our highest priority. The Board is united in its
commitment to ensuring every employee returns home safe
and well each day.
FY25 has been a defining year in Scott’s journey. Under the
leadership of our CEO, Mike Christman, we launched Destination
2030 – a bold five-year step within Scott’s longer-term journey –
setting our path towards becoming a customer-first organisation,
united by one global system, powered by leading-edge
technology and sustained by high-performing teams.
Rolled out at HY25 and launched externally at Scott ID25, our
inaugural investor day in Auckland, Destination 2030 has already
begun to transform the business. The second half of FY25
delivered record earnings, with EBITDA at all-time highs – clear
proof that, unlike many strategies that remain posters on the
wall, Destination 2030 is already delivering results.
Destination 2030 is driving results faster than expected, and
Scott’s evolution is unmistakably under way.
Destination 2030 Delivers Performance
and Progress

We reported record EBITDA of $31.5m, up 19% year on year and
NPAT of $14.2m, an 84% increase. Topline revenue held steady
at $275m, in line with guidance given at Scott ID25, reflecting the
timing of major project deliveries. These results highlight a leaner,
more assertive Scott that is positioned for sustainable profitable
growth through the new strategy.
Our four core domains are at the centre of this transformation.
Materials Handling & Logistics (MHL) advanced breakthrough
solutions for consumer goods companies, unveiling AccuTable
and NexBot in North America. Importantly, two large-scale
reference sites are going live in North America this calendar
year, a milestone that will anchor our reputation and accelerate
growth in this critical region. Alongside the Maestro+ software
platform, MHL is building complete automation ecosystems
that meet customer needs in a world of reshoring, supply chain
disruption and labour shortages and is increasingly becoming a
powerful bridge for cross-domain growth.
The Protein domain continues to expand its global footprint,
securing a contract to deliver the first LEAP Primal system
in the United Kingdom (UK) whilst building deeper traction
in North America. Accounting for roughly 45% of revenue,
services highlight not only the domain’s strong integration with
customer operations but also its role in building resilience and
recurring growth.
Mining continued to benefit from high demand in gold and
copper, with customers increasingly seeking automation at
scale. Notable wins included a major contract with Kinross Gold
in Alaska, alongside long-term service growth in Australia.
Our Rocklabs AMS technologies are reshaping laboratory
automation, while Robofuel continues to point to a broader role
in mine site automation.
Appliances celebrated its 10-year anniversary in China, where
our Centre of Excellence has become a steady anchor in Scott’s
global portfolio. The year also saw our largest appliance
automation contract in China, worth $20m (FY25), followed by
$44m project wins across the Americas for FY26.
This milestone not only strengthens our forward work pipeline
of $169m but also reflects the scale of opportunity Destination
2030 is unlocking, deepening customer intimacy, expanding
Scott’s role in global markets and proving our ability to deliver
complex, cross-regional projects.
Together, these domains showcase Scott’s ability to innovate
across industries, while deepening lifecycle partnerships with
customers.
Strategy in Motion
Destination 2030 provides clarity and ambition, to grow Scott
revenue to $530m by FY30, supported by an EBITDA margin
target of 14%. The four enablers Customer First, One Scott,
Leading-Edge Technology and High-Performing Teams have clear
milestones that span across years.
Already, we see evidence of progress. Customer First is
expanding our role from vendor to trusted partner across the
Stuart McLauchlan at the China 10-year celebration.
Scott Technology Limited
Page 4

full automation lifecycle. One Scott is unifying systems and
processes, creating a leaner operating model and enabling
Scott to better service its customers. Our R&D (research and
development) pipeline is being reshaped to move from project-
led sprints to sustained, long-term innovation. At the same time,
our commitment to High-Performing Teams is strengthening
leadership alignment and capability across geographies.
Environmental, Social and Governance (ESG)
Good governance and responsible business practice remain
at the core of Scott’s success. The Board is committed to the
highest standards of transparency and accountability, with ESG
integration deepening into Destination 2030.
Our goal to reduce Scope 1 and 2 carbon emissions by 30%
by 2030 – from our baseline year of 2022 – remains an ESG
priority. While revenue has grown by nearly 25% since FY22,
emissions have trended downwards by 9%, showing early signs
of decoupling growth from emissions. This is only the beginning,
with further initiatives in renewable energy, logistics optimisation
and lifecycle services that will accelerate progress.
Dividend
The Board is pleased to declare a dividend of 5 cents per share,
taking the full-year total to 8 cents for FY25. This balance between
rewarding shareholders and reinvesting in growth reflects our
confidence in Scott’s financial resilience and long-term trajectory.
Outlook
Looking ahead, the Board is confident in Scott’s ability to sustain
its growth trajectory. Our strong order book, expanding global
presence and customer-first mindset provide a powerful
platform. As markets evolve, demand for automation and
robotics will only accelerate and Scott is well positioned to lead.
With Destination 2030 in motion, Scott has both the ambition
and the roadmap to achieve it. By uniting our global teams,
deepening customer partnerships and investing in innovation,
we will continue to create value for our customers, our
shareholders and our people.
In closing, I would like to thank Mike Christman and the
Executive Team for delivering FY25 Results and Destination
2030, my fellow directors for their guidance and support and
to extend my gratitude to our team members worldwide.
Your dedication, talent and passion are the foundation of
Scott’s success.
Together, we will continue to build a stronger, more valuable
and more global Scott Technology.
Stuart McLauchlan
Chairman and Independent Director
Al Byers
Director
Stuart McLauchlan
Chairman and Independent
Director
Brent Eastwood

Director
John Berry
Director
Derek Charge

Independent Director

John Thorman
Independent Director
OUR BOARD
Full profiles are available on our website:
www.scottautomation.com/en/investor-centre/governance
Annual Report 2025
Page 5

Scott ID25 – CEO Mike Christman unveils Destination 2030 to a room full of investors.
Scott Technology Limited
Page 6

When I joined Scott a year ago, the move from London to
New Zealand felt natural to me. I had spent most of my
career in organisations defined by long-term vision and
leadership in automation, so Scott’s 110-year history of
resilience, engineering excellence and pioneering spirit
felt like the right next chapter.
From day one, the strengths within the organisation were
clear to me – a deeply committed team, pockets of world-
class technical expertise and a legacy of solving tough
problems. Those early months were about engaging with our
customers, listening to our people, learning about our history
and understanding what the business needed next.
In February, at our Half Year 2025 Results, I shared my early
observations with the market. It was clear to me that while
our people had passion, we needed greater alignment
and direction, our customers valued our engineering but
wanted deeper partnerships and our markets were moving
faster than our innovation pipeline. Behind the scenes, the
Executive Team and I shaped our response.
In April, we were deeply affected by the tragic loss of
Michael Sherry, a colleague at our Dunedin site, a solemn
reminder that the safety of our people is and must always
remain our highest priority.
CHIEF EXECUTIVE OFFICER'S ADDRESS:
FROM HERITAGE TO HORIZON
We crafted a five-year strategy designed to evolve Scott from
an engineering mindset to a customer-first mindset. While
Scott must always retain its engineering DNA, our future
leadership will be defined by deep customer and market
understanding. We call this strategy Destination 2030.
Cycles of Success: Destination 2030
I set a dot on the horizon of $530m in revenue by 2030 – a
14% CAGR (Compound Annual Growth Rate) from what we
reported in FY25. Ambition alone, however, is not enough.
Destination 2030 is built around four key enablers that ensure
we not only grow but grow in the right way.
It begins with Customer First, deepening relationships through
lifecycle services, putting customers at the heart of everything
that we do and anticipating their needs rather than responding
to them.
To deliver on that promise, we need One Scott – unifying our
people, processes and systems so that we operate as a single,
highly efficient global company. This is about breaking down silos
”I set a dot on the horizon of $530m in
revenue by 2030 – a 14% CAGR from
what we reported in FY25."
Mike Christman, Chief Executive Officer (CEO).
Annual Report 2025
Page 7

and moving to enterprise thinking, strengthening collaboration
and building a shared sense of purpose across geographies.
Our growth also depends on Leading-Edge Technology –
reshaping and refocusing R&D to strengthen our innovation
pipeline and deliver automation solutions that set
benchmarks across industries, with the ambition to forge
the market rather than follow it, in other words, positively
disrupt.
None of this is possible without High-Performing Teams – a
commitment to maximising talent by refreshing our core values
and embedding a high-performance culture, so our people
have the clarity, skills and energy to deliver on our ambition.
Together, these four enablers form the foundation of
Destination 2030. Each has a clear roadmap and milestones
that span years and together they are already beginning to
shape the way Scott works and wins.
Defining the strategy was only the first step. From March, the
Executive Team and I worked with our Board of Directors,
visited teams across our global sites and engaged directly
with our people, our customers and our partners to share
the vision and gather input. The response was energising –
people saw themselves in the plan.
Early Impact, Strong Momentum
Six months after unveiling Destination 2030, the impact is
unmistakable. Scott has delivered record second half results
in FY25, with strong gains across financial and operational
measures, including record EBITDA of $31.5m (up 19% on
FY24) and NPAT of $14.2m (up 84% on FY24).
Through Customer First, we are strengthening our global
position. We have validated our key markets, expanded
our customer-facing teams to target strategic growth and
embedded ourselves more deeply in our customers’ success,
delivering a 29% service revenue contribution through
lifecycle partnerships.
These changes extend our footprint and reinforce Scott as a
trusted partner in automation in a region where customer
intimacy is becoming the decisive competitive advantage.
In Leading-Edge Technology, we launched our NexBot
solution in Chicago, the first-of-its-kind modular Automated
Guided Vehicle (AGV). In addition, we introduced the K800
BladeStop safety bandsaw in Frankfurt, setting a new global
benchmark with a five-millisecond stopping time. We also
saw growing adoption of both the Automated Modular
Solution at a mine site in Alaska and Automated Poultry
Trusser technology in Canada.
These innovations are more than product milestones,
they are forging new markets, reshaping expectations of
what automation can deliver and positioning Scott at the
forefront of industry disruption.
Through One Scott, we launched a unified platform
and digital roadmap to drive efficiency and alignment.
More than systems and processes, One Scott is already
establishing a single way of working, seamlessly connecting
our global teams and supporting the business to scale.
"Six months after unveiling Destination
2030, the impact is unmistakable. Scott
has delivered record second half results
in FY25"
High-Performing Teams, are now being put into practice,
beginning at the top with the Executive Team this year,
extending to management next year and staff the year
after. This staged rollout is already shaping outcomes,
strengthening alignment and has led directly to the leadership
changes we have made.
Custodians of Scott’s Unwritten Future
With more than a century behind us, being true custodians of
Scott’s unwritten future means shaping leadership structures
that serve today, while preparing for the generations and
challenges ahead.
Volatile markets, shifting supply chains and the pace of
technological change will continue to test us. Our role as
leaders is not to avoid these risks but to manage them with
discipline and confidence: diversifying our markets and supply
chains, investing in innovation and maintaining financial
resilience to geo-political uncertainty.
I have reorganised our executive team around four core
domains – Protein, Mining, Appliance and Materials Handling –
moving away from the regional business model. Alongside this,
I have created dedicated executive roles to expand lifecycle
services, strengthen R&D, maximise talent and drive business
transformation. Together, these changes provide clear
Scott US team in Charlotte, North Carolina.
Scott Technology Limited
Page 8

Full profiles are available on our website:
www. scottautomation.com/en/about-us/our-people
accountability, faster execution and the leadership focus
to deliver Destination 2030.
Custodianship is not only about structure, it is also about
outlook. Scott must achieve both breadth and depth; breadth
as a globally diversified company operating across industries
and geographies, and depth through a Customer First –
approach that spans the full lifecycle of automation. From
design and build, to operate, maintain, modify and, ultimately
dispose – adding value at every step.
This combination of breadth and depth gives Scott resilience
and growth potential that few others can match.
Towards the Horizon
As markets recover and the demand for automation
accelerates, Scott is positioned to lead, building on our
strengths across industries.
We are winning new customers while re-engaging with
long-standing partners in new ways, built on our Customer
First mindset, our Leading-Edge Technology, One Scott
systems and our culture of High-Performing Teams. These
are early results but they are already showing that
Destination 2030 is in motion.
Now our task is to accelerate, scale and deliver. The
journey ahead will not be without challenges but
progress implacably requires change. With the right
people, a clear strategy and a renewed sense of purpose
and vision, Scott is ready to capitalise on the opportunities
that lie ahead.
It is my privilege to lead this company at such an exciting
time. Together, we will bring greater value to our
customers, honour our heritage, embrace change and
create a future that solidifies Scott’s global presence.

Mike Christman
Chief Executive Officer
Aaron Vanwalleghem
President of
Materials Handling
Werner Conradie
President of Mining
Mark O'Malley
Chief Financial Officer
Hayley Hindmarsh
Group GM – People
Cathy Zhang
Regional Director - China
Mark Host
President of Protein
Andrew Arnold
Global Director of Innovation
Damian Lucas
GM – Australia, Director
of Lifecycle Services
Anthony Wesney
Director of Transformation
OUR EXECUTIVE TEAM
Mike Christman
Chief Executive Officer
"With more than a century behind
us, being true custodians of Scott’s
unwritten future means shaping
leadership structures that serve today,
while preparing for the generations
and challenges ahead.“
Annual Report 2025
Page 9

To be the trusted partner that puts our customers first fostering
lasting partnerships that drive innovation and success.
DESTINATION 2030:
DELIVERING SUSTAINABLE,
PROFITABLE GROWTH

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ONE SCOTT
CUSTOMER
FIRST
HIGH
PERFORMING
TEAMS
LEADING
EDGE
TECHNOLOGY
Scott Technology Limited
Page 10

Structured Innovation – Scott has a proud history of being
recognised as an innovative automation company. To build
on that strength, we are shifting from short-term, project-led
innovation towards structured, strategically aligned R&D.
With numerous inventions and patents already secured, we
have a strong platform but our focus now is on scaling ideas
deliberately across domains and geographies.
Investing with Discipline – Globally, leading industrial
automation companies generally invest 4-6% of revenue
into R&D. Over the past six months, we have reshaped our
approach by strengthening governance, securing funding
and embedding new structures to ensure innovation is
deliberate, scalable and disciplined. Scott’s advantage
lies not in outspending competitors but in speed, agility
and focus, creating innovations that make our customers’
businesses safer, smarter and more competitive.
Innovation that Matters – Our future focus is on areas
that create the greatest value for customers: accelerated
automation across domains, advanced service models,
sustainable automation and solutions that integrate
Industry 4.0 technology.
Defining High-Performance – High-Performing Teams are
defined by strong collaboration, clear communication and a
shared commitment to goals. They boost productivity and
efficiency, spark innovation by bringing diverse perspectives
together and foster a positive work culture that lifts
engagement, morale and retention. Their adaptability under
pressure makes them critical to achieving both short-term
objectives and long-term strategic goals.
Embedding Across Scott – Scott is embedding this
approach across the organisation through a staged
rollout. The Executive Team has adopted the methodology
first, setting the standard for clarity, accountability and
performance. Management will follow next year, with staff
engagement to come the year after, ensuring alignment
and consistency at every level.
Driving Results and Outcome – By embedding High-
Performing Teams across Scott, we are building a culture
that maximises talent, strengthens collaboration and
accelerates execution. This transformation is already
shaping outcomes and has led directly to changes in
leadership, equipping Scott with the resilience and focus
needed to deliver Destination 2030.
Destination 2030
Destination 2030
Unifying How We Work – Scott has grown significantly through
both organic and inorganic measures, gaining world-class talent,
expertise and access to new markets. With that growth came
complexity and multiple systems and processes that limited our
ability to scale efficiently and deliver a consistent experience.
One Scott is our enterprise-wide initiative to unify platforms,
harmonise processes and enable our 600+ global team to
operate as one integrated organisation.
Efficiencies that Scale – By consolidating core systems such as
ERP, HRIS, CRM and PLM into a single foundation, we are reducing
duplication, strengthening data integrity,and accelerating
collaboration. The benefits are already visible: smoother
onboarding, faster decision-making, greater cross-domain
visibility and more effective resource use, all of which support
profitable, scalable growth.
Built for the Future – One Scott is designed to be sustainable and
future-ready, with each phase shaped by feedback from across
the business. More than a digital roadmap, it is a cultural enabler
giving our people more time to focus on customers, unlocking
efficiency at scale and positioning Scott to compete and lead as
one high-performing global organisation.
A Mindset Shift – Customer First is more than a strategic
enabler; it is a mindset. It asks us to stop seeing ourselves
only as an engineering company and instead act as a
company that exists because of, and for, our customers.
Today’s customers are not just buying machines, they are
looking for partners who can solve their toughest problems
and create lasting value, now and into the future.
Value Across the Lifecycle – By truly partnering with
customers throughout the full automation lifecycle; Design,
Build, Operate, Maintain, Modify and Dispose (DBOMMD)
we shift from one-off projects to long-term partnerships.
This lifecycle model is central to Destination 2030, with
more than 35% of Group revenue expected to come from
lifecycle services by 2030, directly supporting our $530m
revenue and 14% EBITDA targets.
Intimacy as Advantage – At its heart, Customer First
is about moving from transactional to true key account
partnerships. Through market intelligence, customer insights
and our One Scott systems, we embed ourselves deeper
into customer operations, anticipate their needs and align
innovation directly with their outcomes. This intimacy
simplifies complexity, reduces risk and builds resilience,
ensuring that when our customers win, we win.
High-Performing Teams
One Scott
Leading-Edge Technology
Customer First
Annual Report 2025
Page 11

11%45%
OUR DOMAINS
Revenue
Net Margin
Net Margin %
Service %
$31m
$8m
25%
6%
$123m
$32m
26%
28%
Revenue
Net Margin
Net Margin %
Service %
APPLIANCEMATERIALS HANDLING
Revenue Contribution
Key Customer Partnerships
Scott Technology Limited
Page 12

19 %25%
$51m
$19m
37%
25%
$69m
$20m
29%
45%
Revenue
Net Margin
Net Margin %
Service %
Revenue
Net Margin
Net Margin %
Service %
MININGPROTEIN
Revenue Contribution
Key Customer Partnerships
Annual Report 2025
Page 13

Scott secured a contract to install an existing LEAP Primal for Dawn Meats in the UK – Protein Domain’s first UK install.
Scott Technology Limited
Page 14

CARVING OUT NEW MARKETS
By Mark Host, President of Protein
Building on a foundation of innovation and customer
trust, we have expanded our footprint, introduced
breakthroughs and entered new markets.
Revenue in FY25 grew 16% on FY24, with margin
performance reflecting both operating discipline and
stronger demand for automation across protein processing.
A major highlight was securing the first UK installation of a
LEAP Primal System with Dawn Meats. Following more than
20 successful installs across Australia and New Zealand –
including another Lamb Primal with JBS Australia in Cobram
earlier this year – Scott will now have primal systems
operating in the world’s leading lamb-producing regions at a
time when supply is shifting across key markets.
breaking K800 launch in Frankfurt, capable of stopping
a blade within just five milliseconds. Alongside this, our
automation reduces strain in high-risk tasks, enabling
processors to protect their people while improving yield.
Shaping the Future of Protein
Expansion into new lamb markets, wider adoption of the
automated poultry trusser, acceleration of BladeStop and
deeper service penetration across our installed base remain
powerful growth levers. With R&D set to introduce beef
automation, stronger collaboration with our Materials
Handling & Logistics domain and greater use of data-driven
insight, we are building systems designed not just for
today’s plants but for tomorrow’s connected, intelligent and
safety-led facilities.
Protein is central to Scott’s growth story and, with the right
partnerships, technology and focus, we are committed to
delivering safer, smarter and more sustainable processing
for customers worldwide.

"Expansion into new lamb markets, wider
adoption of the automated poultry trusser,
acceleration of BladeStop and deeper service
penetration across our installed base remain
powerful growth levers."
"Protein is central to Scott’s growth story and,
with the right partnerships, technology and
focus, we are committed to delivering safer,
smarter, and more sustainable processing..."
Australia is expanding exports, New Zealand is managing
tighter supply and the UK is balancing strong demand with
changing consumption trends. In this environment, Scott’s
lamb processing systems give processors the ability to
capture more yield and consistency from every carcass,
helping them adapt quickly to evolving market pressures.
Further to our UK expansion, we saw BladeStop gain
global traction with Cargill deploying units across its North
American network. Additionally, the Automated Poultry
Trussing technology entered the Canadian market with
Maple Lodge Farms, one of the country’s largest poultry
processors. This builds our momentum in North America,
where we see significant potential to scale.
Safety Matters More Than Ever
Our expansion in North America highlights both opportunity
and responsibility. As Scott systems scale across meat
processing, we are mindful of the safety challenges facing
today’s workforces.
Recent research from the University of California, San
Francisco found that most poultry and swine workers are
at elevated risk of musculoskeletal disorders, with many
reporting significant work-related pain. Risks that only
intensify as line speeds increase.
Scott’s safety-first approach is designed to meet these
realities. BladeStop safety bandsaws are engineered to
prevent life-changing injuries, proven again with the record-
Scott unveils BladeStop K800 at IFFA 2025 in Frankfurt .
Annual Report 2025
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WHERE INNOVATION MEETS
GLOBAL FLOW
By Aaron Vanwalleghem, President of Materials Handling
At its core, the story of MHL is simple, customers face growing
complexity and Scott delivers the solutions to meet it.
Right now, manufacturers across Europe and North America are
navigating fundamental shifts in how they operate. Reshoring
and supply chain disruption are reshaping production footprints.
Persistent labour shortages and high turnover in packaging roles
make it difficult to sustain reliable operations.
At the same time, consumer goods companies face rising
product complexity from evolving customer demand, Stock
Keeping Unit (SKU) volatility and regulatory and sustainability
mandates, all within increasingly constrained factory footprints.
These forces are accelerating demand for automation that is not
only efficient but also flexible, scalable and digitally connected.
Innovation at the Forefront
In 2025, Scott responded to these challenges with breakthrough
innovation. At PACK EXPO in Las Vegas, we introduced AccuTable
to the North American market. A world-first multi-line palletising
and accumulation solution already proven in Europe’s most
demanding consumer packaged goods environments.
AccuTable delivers high throughput in a compact footprint while
managing SKU volatility and labour shortages challenges that no
other solution in the market can address in quite the same way.
At PROMAT in Chicago, we introduced NexBot, our modular
Automated Guided Vehicle (AGV) designed to provide intelligent,
flexible in-plant transport and seamless integration with Scott’s
palletising and logistics systems.
Alongside these hardware innovations, our Maestro+ software
platform continued to gain traction as a central intelligence
layer connecting data, control and analytics across the factory.
Together, these offerings show how Scott delivers complete
ecosystems designed to scale with our customers and deliver
measurable ROI (Return on Investment).
Performance and Global Outlook
While topline revenue for the year was modestly down 3%
year-on-year, reflecting the timing of major project deliveries,
the underlying business demonstrated strong momentum.
We secured significant new accounts while deepening
relationships with existing partners. Projects such as Coca-
Cola’s high-capacity palletising system in Belgium, DMK’s
multi-line installation in Germany and Ecofrost’s frozen
foods expansion, highlight just some of the strength of our
Customer First strategy.
Repeat business is now a decisive competitive advantage for
MHL, with loyalty from established customers combining with
new wins to create a cycle of success.
Looking ahead, we see four strategic levers that will drive MHL’s
next wave of growth.
"By aligning bold innovation with deep
customer partnerships, MHL is building
a stronger, more resilient growth engine
for Scott."
First, we will expand our footprint in Europe through new
partnerships and industry verticals, including our collaboration
with Savoye. Second, we will replicate our proven European
model in North America, building on the blue-chip reference sites
we have already established.
Third, we will scale our AGV offering globally through NexBot,
extending our role in in-plant logistics. Finally, we will accelerate
software and lifecycle services expansion, growing recurring
revenue streams and supporting long-term customer
relationships.
With Maestro+, the intelligence developed in our MHL centre of
excellence also extends beyond logistics, creating a cloud-based
platform for continuous improvement and Group-wide growth in
the era of Industry 4.0.
By aligning bold innovation with deep customer partnerships,
MHL is building a stronger, more resilient growth engine for Scott.
NexBot AGV launched in Chicago, US.
Scott Technology Limited
Page 16

At PACK EXPO Las Vegas, we unveiled AccuTable to the North American market the world’s first multi-line palletising
and accumulation solution, already proven in Europe’s toughest consumer packaged goods environments .
Annual Report 2025
Page 17

Mineral Resources is using Rocklabs' Automated Modular Solution to enhance safety
and efficiency in sample analysis at Ken’s Bore lab in Western Australia.
Scott Technology Limited
Page 18

The global mining industry is in a period of transition.
Record gold prices are driving investment across new and
existing operations, including deposits once considered
uneconomical. At the same time, the timeline for
electrification in mining has extended, delaying the
near-term ramp-up in some critical minerals.
Yet our conversations with customers make one thing clear:
automation is central to their 10-year strategies, particularly in
copper and critical minerals. New copper mines are opening,
older ones are being restarted and the industry is positioning
for the next wave of demand. This gives Scott confidence in a
strong, sustained market for our products and services.
Technology that Transforms
Being close to our customers means understanding their next
transition, towards robotics, automation and technological
integration. This is where Scott is investing and where we see
the most significant growth ahead.
Photon Assay, for example, is a game changer in gold
analysis, dramatically reducing turnaround times compared
to traditional methods. Rocklabs' AMS (Automated Modular
Solution) ecosystem, with modules like crush cell with lidding
and printing stations are designed to integrate seamlessly
with technologies like Photon Assay, creating powerful, end-
to-end systems for our customers.
Customers are responding positively: in FY25 we secured a
major contract with Kinross Gold Corporation to supply an
Automated Crush Module line in Fairbanks, Alaska, a project
that reflects both our technical capability and the strength of
our North American expansion strategy.
Building Regional Presence
North America and Australia remain two of the world’s most
important mining regions and our strategy is to be embedded
where our customers are.
In Australia, our direct presence has driven more than 300%
growth in service revenues over the past four years. Long-
term service-level agreements with Rio Tinto and other
major customers have created a stable foundation, while new
automation projects, such as the West Angeles laboratory
system, highlight the strength of these relationships.
North America’s scale in both gold and copper production
makes it a strategic priority, and we are building the technical
and business development teams to support it. These regional
blueprints, Australia first, now North America, will shape our
global expansion model.
Innovation and Integration
We are also advancing products such as Robofuel, which
we see as a platform for broader automation at mine sites.
Beyond refuelling, we are developing automated inspection
capabilities that allow haul trucks to be safely and efficiently
assessed during each stop, ensuring compliance while
improving productivity.
One Scott is central to this future. Increasingly, customers
are asking how Scott can integrate mining automation with
Materials Handling and Logistics. By bridging domains, we are
positioning ourselves to solve more complex problems and
deliver greater value.
AUTOMATED
FUTURE OF
MINING
By Werner Conradie, President of Mining
"Mining is entering a new era – defined by
automation, robotics and digital integration
– and Scott is ready to lead it..."
Our future lies in both breadth and depth – breadth by
expanding our standard equipment solutions into adjacent
industries such as agriculture, recycling and natural
resources; and depth by strengthening long-term customer
partnerships in mining. To support this, we are building the
next generation of leaders, upskilling our people for an AI-
enabled future and embedding a culture that can adapt as
technology reshapes our industry.
Mining is entering a new era – defined by automation,
robotics and digital integration – and Scott is ready to lead it,
standing alongside our customers as trusted partners in their
long-term journeys.
RoboFuel system for automated refuelling.
Annual Report 2025
Page 19

Scott’s appliance journey spans more than seven decades.
We began in the 1950s manufacturing white goods
before pivoting to automation, applying our deep
knowledge of production processes to build smarter,
faster and safer systems.
That heritage still defines us – we understand the appliance
world from the inside out. The appliance sector sits at the
intersection of everyday life and advanced manufacturing. It is
a space where design, reliability and precision come together at
unprecedented scale.
From laundry to refrigeration, global brands compete not just on
performance but also on efficiency, sustainability and speed to
market, making automation a critical enabler of their progress.
2025 marked the 10-year anniversary of Scott in China, our
Centre of Excellence for the Appliances Domain. Since launching
in Qingdao in 2015, supported by Christchurch design and
engineering teams, we have grown with China’s dynamic
manufacturing sector.
spans multiple systems for top and front-loader production
lines. It extends a partnership that began in 2000 and now
covers nine advanced production lines.
Beyond China, we continue to deliver for top tier global
Appliance customers such as Sub-Zero, GEA and Whirlpool,
each project reflecting our ability to meet the highest levels of
confidence, product quality and technical standards in appliance
automation.
Behind these achievements are our people. With more than 50
highly skilled employees in Qingdao, supported by our backbone
of experienced colleagues in New Zealand, Europe and the US,
Scott’s teams are the foundation of our performance. Their
commitment delivering rapid installations, or driving innovation,
continues to set us apart.
The Next Cycle: Global Spin
Looking ahead, three levers define our growth: a modular design
approach enabling flexible, scalable systems; a robust supply
chain ready to respond quickly to global opportunities; and a
targeted aftermarket and upgrade programme across our large
installed base.
Combined with Scott’s expertise in stainless steel forming and
precision automation, these levers make us the partner of choice
in premium appliance manufacturing.
The next chapter for Scott Appliance will be defined by
innovation and scale. As manufacturers seek smarter, safer and
more flexible automation, Scott is well positioned to respond.
BUILT TO LAST
By Cathy Zhang, Regional Director – China
"Over the decade, we’ve built enduring
relationships, expanded our capabilities and
embedded Scott into the fabric of the world’s
most competitive industrial landscapes."
Over the decade, we’ve built enduring relationships, expanded
our capabilities and embedded Scott into the fabric of the
world’s most competitive industrial landscapes.
Plugged into Performance
Today, Scott is recognised as a high-end automation provider
for leading brands such as GEA, Sub-Zero, Bosch, Midea
and Whirlpool. Appliances remain a core domain where our
expertise in automation, stainless steel forming and precision
engineering comes together.
In FY25, Appliances business maintained healthy margins and
continued to deliver on large-scale projects and servicing our
global partners.
Supported by our China-based Centre of Excellence, Appliances
remains a steady and dependable margin anchor for the Group
demonstrating resilience in a cyclical market and reinforcing
Scott’s reputation as a trusted long-term partner to the industry.
Big Loads, Bigger Wins
This year, Scott secured its largest-ever appliance automation
contract in China, valued at approximately NZ$20m (CN¥85m)
with a prominent global whiteware manufacturer. The project
Developing appliance line in Scott China .
Scott Technology Limited
Page 20

An appliance line is developed for a long-standing Scott Technology customer, a partnership
that has grown since 2000, during which Scott has delivered nine advanced production lines .
Annual Report 2025
Page 21

CULTURE AND COMMITMENT
By Hayley Hindmarsh – GM of People
Our people are the heart of our business. This principle
sits at the core of Destination 2030, with High-Performing
Teams and One Scott as two people-centric enablers of
our strategy. Their purpose is clear, to maximise talent,
strengthen performance, accelerate innovation and
deepen customer impact by harnessing the full energy
and talent of our teams to support the drive towards
sustainable, profitable growth.
Our global workforce of more than 600 people across 10
countries and four generations brings together experience,
fresh ideas and creativity. From graduates to long-tenured
specialists (with the current longest tenure being 46 years),
this diversity is what enables us to innovate, collaborate and
deliver as One Scott.
To get the best from our talent, we must understand their
experience, which is why listening, measuring and acting on
feedback is critical. This February, we launched a new global
culture platform to enable industry-wide benchmarking.
Eighty-five percent of our people took part in our first global
engagement survey, sharing nearly 2,000 comments.
The results showed real cultural strengths. Ninety-one
percent said they can take time out when needed, reflecting
strong trust and flexibility. Eighty-eight percent said they
understand how their work contributes to Scott’s broader
goals. Eighty-seven percent said they know what they need to
do to succeed in their role.
"Across Scott our people feel connected
to our purpose and supported in their
day-to-day work.“
These are not easy outcomes. They show that across Scott
our people feel connected to purpose and supported in their
day-to-day work.
Under Mike’s leadership we also saw progress in leadership
growth under our new domain-focused structure, with five
senior leaders promoted internally this year, a strong signal
that we are building talent from within.
Our culture survey also showed areas where we must
improve, and our people told us clearly where we can do
better. Acting on what we hear is how we will strengthen
engagement, improve retention and make Scott a place where
people want to stay, grow and contribute. We now have more
than 40 culture actions under way across the Group.
Our Destination 2030 – People Strategy sets ambitious
targets – from reduction of voluntary turnover below
global benchmark, to exceeding industry benchmarks on
engagement and employee net promoter score by 2030. Scott
is building the kind of culture that attracts the best, develops
leaders and delivers sustainable performance.
By investing in our people today, we are strengthening Scott’s
long-term resilience, innovation and growth.
Scott Technology Limited
Page 22

"This internship is an opportunity to build
confidence and skills in an environment
that values diversity and innovation. It
makes me feel that there’s a strong path
forward in engineering.”
-
India O’Neill, studying Engineering specialising
in Mechatronics.
"The scholarship and internship are
providing me with the valuable opportunity
to translate my engineering studies into
practical experience within the industry.
I’m looking forward to learning from
the experienced engineers at Scott
Technology and joining the team who are
shaping the future of automation.”
-
Heidi van der Peet, studying Mechanical Engineering.
"This reflects our commitment to act
where we can, to keep learning and
to provide opportunities that will grow
year by year. “
Building Pathways for Women in Engineering
We know that diverse teams deliver better solutions. That’s
why we’re taking practical steps to support more women
into engineering, especially in technical and leadership roles
where representation remains limited.
Now in its third year, our partnership with the University of
Canterbury gives women the chance to combine academic
study with real-world experience through the Scott Women
in Engineering Scholarship and Internship Programme.
The initiative provides financial support, mentoring and paid
work experience, these are small steps but meaningful ones
in broadening the pathways into engineering careers.
This year, the quality of applications was so strong that we
expanded the programme beyond its original scope. While
it traditionally offers one person a scholarship and one
internship, we awarded the scholarship and internship to
Heidi van der Peet who will join our Christchurch team and
offered an additional internship to India O’Neill, who will join
our Rocklabs team in Auckland.
We know this won’t change industry-wide gender diversity
overnight, but it reflects our commitment to act where we
can, to keep learning and to provide opportunities that will
grow year by year.
Foundations of High-Performing Teams
Together, these initiatives – from listening and acting on
feedback, to strengthening health and safety, to broadening
pathways for diverse talent – are about more than culture
alone. They are the foundations of High-Performing Teams
and High-Performing Teams are what will enable Scott to
deliver on Destination 2030. By investing in our people, we
strengthen the resilience, innovation and customer focus that
underpins sustainable, profitable growth.
Christchurch open day for Women in Engineering .
India O’Neil – our newest Rocklabs intern.
Annual Report 2025
Page 23

HEALTH AND SAFETY
Health and Safety remains our priority. In FY25
we strengthened our Health, Safety, Wellbeing and
Environment (HSWE) systems through new initiatives,
including enhanced safety leadership conversations,
expanded hazard reporting and refreshed global standards.
These actions reflect our commitment to honouring
our Dunedin colleague’s memory through continual
improvement and the protection of everyone who works
with and for Scott.
Investing in Leadership
Two global Bowtie workshops were held on potential energy
critical risks, engaging subject matter experts from five regions.
In FY25, our Lost Time Injury Frequency Rate (LTIFR) was
2.89, and our Total Recordable Injury Frequency Rate
(TRIFR) was 5.78. These highlight the importance of
continued investment in leadership capability, behavioural
safety, proactive reporting and critical risk management.
In FY26, we will bring the HSWE further with a modernised
One Scott platform, QR codes linking directly to risk guides
and real-time access for all employees across devices.
Behavioural safety will be at the centre of our engagement
approach, emphasising leader-led safety conversations,
peer checks and feedback, with recognition shifting from
compliance to genuine commitment.
We will also continue to refine how we measure health and
safety, focusing not only on injury statistics but also on the
quality of safety conversations, verification of critical controls,
timely close-out of actions, and learning from work.
What matters most is the continued effort to embed health
and safety into every decision, every process and every
workplace interaction.
Our commitment remains to learn from every incident,
strengthen our controls ensuring that health and safety
remains a top priority at Scott.

By Kasia Liu – Group Health and Safety Manager
Scott Technology Limited
Page 24

SUSTAINABLE AND
PROFITABLE GROWTH
If there is a central theme across this FY25 Annual Report, it
is that Scott is forming a long-term view of both our company
and the industries we serve. Within this context, ESG is best
considered as an important part of that future perspective.
In FY24, we introduced our Double Materiality Matrix, a dual-
perspective framework comprised of Impact and Financial
Materiality. Impact Materiality (Inside-Out) evaluates the social
and environmental effects of our operations and value chain,
assessing scale, scope and impacts that can't be reversed.
Financial Materiality (Outside-In) assesses external factors that
could affect Scott’s financial performance, from the magnitude
of risks to the likelihood of opportunities.
The FY24 assessment was informed by horizon scans, surveys
and interviews with customers, suppliers, employees, directors
and industry bodies, refining our focus on areas most critical to
both our business and our wider ecosystem. Now that we have
set out our Destination 2030 business strategy, the ESG focus
areas are no longer sitting on the parallel track but are woven
into the execution of Destination 2030, with integration still
deepening across certain streams.
30% Carbon Reduction by 2030
In FY22, which serves as the baseline year for our reduction
target, Scott reported 1,811 tonnes of CO₂e from Scope 1 and
2 emissions. This year, we’ve reported Net Scope 1 and 2 GHG
emissions of 1,645 tonnes CO₂e – a 8.9% decrease on FY24 and
a 9.1% decrease on our FY22 Base Year levels.
This demonstrates that while the business expanded, our
absolute emissions decreased against the baseline – an early
sign that decoupling growth from emissions is both possible and
achievable. Contributing to the reduction in FY25 was relocating
Sydney operations to a site with solar self-generation, HVAC
optimisation at the Sydney site, greening of the gird in most
Scott locations and fleet transition to electic vehicles.
By Mark O’Malley – Chief Financial Officer (CF0)
"...while the business expanded, our
absolute emissions decreased against
the baseline – an early sign that
decoupling growth from emissions is
both possible and achievable.“
Scott continues to commit capital towards decarbonisation initiatives including
the installation of vehicle charging facilities at our European sites.
Annual Report 2025
Page 25

Meeting this 30% reduction target will require continued
focus, with an annual average reduction of 3.75% each
year. Our focus is on energy efficiency across facilities,
adoption of renewable energy and optimisation of logistics.
Just as importantly, the progress we make will align with
customer expectations and investor confidence, reducing our
environmental footprint while strengthening Scott’s long-
term resilience.
Unified for Impact
ESG at Scott is not only about carbon. Our broader
commitments to People, Purpose and Place extend across
our workforce, customers and industries and are embedded
across our Destination 2030 strategy.
Our people are the foundation of performance and
ESG reinforces that by ensuring we invest in retention,
development and wellbeing. Focused training and career
pathways are equipping teams with the skills needed for a
digital, automated future, while our safety-first mindset and
inclusive culture foster workplaces where people feel secure,
valued and empowered.
The commitment underpins the One Scott approach - of
globally aligned and connected teams working across
geographies and domains with a shared sense of purpose.
High-Performing Teams extend this further by embedding
clarity, accountability and collaboration into daily execution.
Together, they enable us to innovate faster, adapt with
resilience and deliver consistently for customers.
Purpose Beyond Projects
ESG strengthens our promise of putting customers first. By
co-discovering opportunities, aligning on long-term capital
plans and embedding shared ESG priorities into those
relationships, we create enduring value that goes beyond
transactions.
"...as we grow toward $530m by 2030 we do
so in a way that protects people, empowers
customers and supports a more sustainable
industrial landscape.“
Our lifecycle framework, from design to dispose, supports
customers long after installation, reducing waste, extending
asset life and lowering environmental impact. By 2030,
more than 35% of Group revenue is expected to come
from lifecycle services, directly aligning ESG outcomes with
financial outcomes. When customers win, we win and their
success increasingly includes ESG performance.
Whether reducing system footprints, enabling cold-chain
logistics or lowering energy consumption, our solutions are
designed to help customers meet regulatory requirements,
sustainability goals and operational challenges. ESG doesn’t
constrain innovation at Scott; it directs it towards relevance
and resilience.
Delivering Sustainable Profitable Growth
By aligning our ESG priorities with our growth enablers from
a High-Performing Teams culture and One Scott systems to
Leading-Edge Technology and Customer First, we are building
a company that is financially resilient, socially responsible,
sustainable and positioned for long-term impact.
Destination 2030 is about more than hitting financial
milestones. It is about how we get there. Embedding ESG
into our strategy ensures that as we grow – toward $530m
revenue – we do so in a way that protects people, empowers
customers and supports a more sustainable industrial
landscape.
In this way, ESG is not an add-on. It is how Scott achieves
its purpose - powering our customers and industry with
transformative solutions and services.
Scott Technology Limited
Page 26

STATEMENT OF COMPLIANCE
Scott Technology Ltd (Scott or, together with its subsidiaries, the Group) is a Climate
Reporting Entity (CRE) under the Financial Markets Conduct Act 2013 (the Act).
This is Scott’s second Climate-related Disclosures (CRD) under
the Act and covers the last 12 months of activity from 1 September 2024 – 31 August 2025.
These Climate-related Disclosures comply with Aotearoa New Zealand Climate Standards
NZ CS 1-3 (the Standards) issued by the External Reporting Board.
The following provisions specified in the Standards have been adopted by the Group:
• Adoption provision 2: Anticipated financial impacts
• Adoption provision 4: Scope 3 greenhouse gas (GHG) emissions
• Adoption provision 5: Comparatives for Scope 3 GHG emissions
• Adoption Provision 8: Assurance of Scope 3 GHG emissions disclosures in the scope of its
assurance engagement.
These Climate-related Disclosures represent the group’s climate statement for FY25.
21 October 2025
Stuart McLauchlan
Chairman
John Thorman
Independent Director and
Chair Audit & Risk Committee
Note: We, and readers of this report should, recognise that climate change projections carry inherent uncertainty. This report
reflects our current understanding of climate-related risks and opportunities as of 31 August 2025. This report includes forward-
looking statements relating to climate-related scenarios that are inherently uncertain and subject to change in future reports.
This report includes metrics and targets that are based on estimates and assumptions that are uncertain and subject to
limitations. Challenges relating to data inputs may change over time and impact uncertainty of projections. Scott is committed to
progressing towards our targets as outlined in this report, however, due to uncertain technological changes, economic factors and
environmental changes (which in many cases are beyond Scott’s control), our targets and strategies to achieve these targets are
subject to change. Scott’s actual performance against its climate-related targets, and its climate-related risks and opportunities,
may not eventuate or may be materially different to what is currently anticipated. We caution reliance on aspects of this report,
which is necessarily subject to the caveats above. Nothing in this report constitutes the Group’s financial, legal, tax or strategic
growth guidance or advice.
CLIMATE-RELATED
DISCLOSURES
Annual Report 2025
Page 27

There are three priority areas that Scott has focused on
developing in relation to climate change. These are
as follows:
1. Financial quantification of the impacts from climate events
now and in future
2. The creation of a long-term Transition Plan that will be
integrated with business strategy
3. How Scott’s deployment of capital will proactively evolve
to support this evolution.
These three priority areas involve significant focus from
across the business and, as such, Scott has determined
that these areas will be a focus for both year two and year
three disclosures. The most progress made in year two is in
Transition Planning, with financial quantification also under
way and capital allocation to follow in year three, along with
the completion of the first two priorities.
This is the second year that Scott has provided Climate-
related Disclosures. The work to review, understand and
plan for the impacts of climate risks and opportunities is
a major priority for Scott and continues to be undertaken
widely across the business, with involvement ranging from
Board level to regional executive management level, with
all being closely involved in the building of the plans that
summarised in this statement.
The guidance provided by the XRB for year two of Climate-
related Disclosures has been considered carefully and been
enhanced by the internal review of Scott’s own learnings
from its first Climate-related Disclosures and more broadly
from learnings sought from across its industry and peer
group. Scott believes that the second year of disclosure builds
strongly upon year one, and this process will continue to be
an evolution, with some significant milestones planned to be
achieved in the third year of Climate-related Disclosures.
INTRODUCTION AND OVERVIEW
Mike and William inspect the development of Rocklabs’ automated systems.
Scott Technology Limited
Page 28

GOVERNANCE
Scott believes in the benefit of strong corporate governance
and the value it provides for our shareholders, customers,
employees and other stakeholders. Our Board is responsible
for ensuring that the company maintains high ethical standards
and corporate governance practices.
The governance associated with Scott’s approach to climate-
related risks and opportunities continues to be a priority,
with the Board maintaining overall responsibility but
formally delegating the oversight of the Climate-related
Disclosures process to the Audit and Risk Committee (ARC).
The ARC meets five times per year and reports to the Board
after each meeting.
The Board has formally set up a Sustainability Committee,
with its charter being published on our website. Under the
terms in the charter, management is empowered with the
responsibility for identifying and managing climate-related risks
and opportunities and these are formally reviewed at least
quarterly as required by the ARC. The Board is then informed
of the outcomes from this review. If substantive issues arise
at the Sustainability Committee that require more Board time
and focus, then specific Board sessions are arranged. The
below diagram outlines the relationship between the Board,
committees and working groups at Scott.
The committee structures outlined support governance
oversight of climate-related risks and opportunities. The
committees are made up of a blend of Board-level and
management-level team members, which helps to bring a
diverse range of skills and knowledge relating to climate risk
to the fore.
Over the last 12 months, Scott has engaged Tadpole, an
independent advisor, to review its governance processes
for Climate-related Disclosures. This review gave the Board
confidence to proceed with its plans, confirming that key
aspects of the XRB guidance had been addressed, while also
highlighting areas for focus.
The Board has included ESG skills and competencies in a formal
skills matrix on page 99 of Scott’s 2025 Annual Report.
Climate-related risks and opportunities have been identified,
assessed and reviewed by the Board as part of the initial
climate work undertaken in 2024. The Board has considered
these risks and opportunities when reviewing and updating the
business strategy in FY25.
The Board also recognises the importance of integrating all
the relevant short-, medium- and long-term climate related
risks and opportunities identified into the broader long term
business strategy and has delegated this task to the team
undertaking Transition Planning.
Governance structure
Annual Report 2025
Page 29
Meets
at least
six times
annually
Meets
five times
annually
Meets
four times
annually
Meets
monthly
Meets
at least
bi-monthly
Board of Directors
The governance body responsible for oversight and implementation
of Scott’s ESG strategy and climate-related risks and opportunities
Regional working groups
Responsible for the execution of the ESG plan and report monthly to the Sustainability
Committee and the Executive Management Team. This includes climate-related
impacts and risks and opportunities.
Executive Management Team
As part of the monthly management meeting the Executive Management
Team reviews progress against the ESG plan and sets priorities as appropriate.
The team receives updates from the regional working groups on ESG matters,
including climate impacts and climate-related risks and opportunities.
Audit & Risk Committee
Responsible for reviewing and
recommending Scott’s Group
climate-related disclosure to the
Board for approval
Sustainability Committee
Provides oversight of the wider
ESG programme at Scott,
including progress against
targets in the ESG plan

A fleet of Rocklabs’ flagship crushers in development for dispatch to global customers.
In terms of target setting, the Board maintains full
responsibility for considering and setting the targets associated
with climate-related risk. Management has been tasked to
enact and execute these plans as part of the company’s wider
business strategy. The Executive Management Team has ESG
and climate-related performance KPIs included in its Short-
Term Incentive plans (STIs).
Management’s Role
Scott’s Executive Management Team is involved in identifying
and managing climate-related risks and opportunities.
While the CFO has been made accountable to the Board and
ARC for the specific climate-related disclosures work, all leaders
on the Executive Management Team have assigned responsibility
via the regional working groups, for different elements of the
broader ESG strategy. This approach will also apply to the future-
focused long-term transition plan. This responsibility extends
across all regions and provides a broad perspective as to how
Scott views these risks and opportunities.
Management’s relationship to other committees and working
groups at Scott is detailed in the aforementioned diagram.
STRATEGY
Integrating Scott’s ESG objectives into the business strategy
remains essential for the business to drive sustainable growth
and long-term success. In FY24, scenario analysis formed a
central part of our strategy disclosures. This process made it
possible to test a range of potential temperature outcomes
and to consider the corresponding climate-related risks and
opportunities. These outputs provided significant value in
undertaking transition planning in FY25 — a key strategy
component of Scott’s second Climate-related Disclosures.
Our scenario analysis in FY24 focused on three scenarios from
the Network for Greening of the Financial System (NGFS)
Framework, selected to illustrate different possible climate
pathways. These were: a Net Zero 2050 pathway, representing
an orderly transition with early and steady emissions reductions
to hold warming close to 1.5°C; a Delayed Transition pathway,
where action is deferred until after 2030, requiring a faster and
more disruptive adjustment to limit warming to below 2°C; and
a Current Policies pathway, reflecting minimal further mitigation
and leading to global warming beyond 2.5°C with pronounced
physical impacts.
Although undertaken in FY24, the scenario analysis continues
to feed into Scott’s broader strategy and risk processes.
In FY25, the climate scenarios served as a foundation
during Transition Planning workshops. The scenarios were
also reviewed and approved by the Board for our second
Climate-related Disclosures.
For the current reporting cycle, the underlying assumptions,
timeframes, temperature pathways and narratives relating
to scenario analysis remain consistent with Year One, with no
material changes. The only change has been a minor adjustment
to the Delayed Transition scenario, aligning the Representative
Concentration Pathways (RCPs) and Shared Socio-economic
Pathways (SSPs) more precisely with the scenario storyline and
climate modelling framework. This refinement does not alter
the Year One findings or their relevance to Year Two. A summary
of our Scenario Analysis process and outputs is provided in the
‘Scenario Analysis’ section of this report.
Over the past 12 months, we have also continued to monitor the
climate-related impacts experienced by the business. These are
provided in the following section.
Current Impacts and Financial Impacts
Climate-related events continue to impact the world, causing
disruption to communities, assets and supply chains. Scott is
aware of this increasing risk to the diverse geographies in which
we operate and has established robust review processes to
ensure that the financial impacts of these events are assessed
and quantified. These processes are now well established and
form part of the Scott way of working.
Scott Technology Limited
Page 30

Why these scenarios?
The decision to use the NGFS framework and the following three
scenarios was guided by XRB’s requirements and the importance
of considering the various industries Scott serves. As such, the
rationale for these decisions reflected the dual need to meet
regulatory standards and address industry-specific risks.
NGFS scenarios chosen:
1. Orderly Transition: Net Zero 2050 (<1.5°C global
temperature outcome)
2. Hot House World: Current Policies (>3.0°C global
temperature outcome)
3. Disorderly Transition: Delayed Transition (~2°C global
temperature outcome) (Scott’s third temperature choosing).
The NGFS scenarios remain consistent with frameworks selected
by other organisations and are particularly effective in rigorously
assessing transition risks.
The Net Zero 2050 scenario allowed us to assess our transition-
related risks under a rapid but planned decarbonisation
pathway. Delayed Transition scenario maximised and explored
transition risks by providing the most abrupt transition and
decarbonisation pathway. In contrast, the Current Policies
scenario enabled Scott to support considerations around the
physical impacts of climate change over time.
Scenario Characteristics
Each of the three scenarios Scott used is characterised by key
physical and socio-economic trends, influencing the direction of
change and the different pathways that could play out over time.
A description of these various emissions-reduction pathways
and key trends associated with each scenario is provided in the
following table. Key characteristic trends were guided by the
NGFS framework, various sector scenarios and input from the
Scott team.
CharacteristicsNet Zero 2050Delayed TransitionCurrent Policies
Global temperature outcomes
<1.5°C~2°C>3°C
Policy reaction
Immediate & smoothDisjointed & myopicChaotic, non-existent
Regional policy variation
AlignedConsumer & politically drivenSelfish
Speed of technology change
Fast change
Medium net change with
disjointed implementation
Slow change
Customer sentiment / behaviour
change
Universal, accelerated
& immediate
PolarisedAmbivalent
Physical risk severity
ModerateModerate – highSevere
Transition risk severityModerateHighLow
Supply chain impacts of physical
(& transition) risk
LowLow – mediumMedium
Physical impacts
In FY25, we experienced one event that was material to our
Australian business — Cyclone Alfred in February and March
2025 in Queensland. The impact of this event caused Scott’s
Brisbane site to be closed for 17 days due to access issues
caused by flooding and power outages.
Transition impacts
In FY25, while Scott did not experience any material transition
impacts, we note that climate-related legislation, particularly in
New Zealand and Europe, has continued to place an increased
cost of doing business on us to meet reporting requirements.
Other transitional impacts, such as changing consumer
preferences and insurance costs, continue to be monitored and
assessed year-on-year by Scott.
Scenario Analysis
As part of developing Scott’s Climate-related Disclosures, the
business conducted an indepth scenario analysis in FY24 to
identify the key climate-related risks and opportunities that may
arise in the future and their potential impacts on the business.
The scenario analysis detailed three climate scenarios:
1. A 1.5°C global warming scenario
2. A 3.0°C or greater global warming scenario
3. A third temperature scenario of Scott’s choosing.
For the structure of the three scenarios, as indicated earlier
in this report, Scott chose to use the Network for Greening
the Financial System (NGFS) framework, which provided
various temperature scenario ambitions and outcomes and
key trends underpinning them. The specific scenarios within
this framework, and their temperature policy ambitions, are
outlined in the next section of this report ‘Scenario Analysis
Methods and Assumptions’.
Scenario analysis methods and assumptions
Annual Report 2025
Page 31

Scenario Time Horizons
Scott used three time horizons (covering the short, medium and
long term) in the scenario analysis to help uncover the potential
outcomes of climate-related risks and opportunities. The three-
time horizons selected were:
• Short: 2024 – 2027
• Medium: 2028 – 2040
• Long: 2041 – 2050.
The endpoints of each time horizon were determined by a year
(2027, 2040, 2050) and chosen to align with Scott’s internal
commercial planning horizons and to improve applicability of
scenarios to the sectors Scott services.
The short term aligned with Scott’s strategic planning process,
the medium term reflected the significant activity taking place
in this period that could impact Scott and the long term aligned
to 2050 as the Net Zero target date many businesses continue
striving towards.
Scenario Data Sources
The use of data in a scenario analysis helps to paint a picture of
potential trends over time in the lead up to each temperature
outcome. The data sources that Scott used during the
construction of each scenario are provided in the Appendix.
No modelling outside of that which supported the primary data
was used in the construction of each scenario.
The Scenario Analysis Process
While the scenario analysis was conducted as a standalone
analysis, outputs from the process, particularly the climate-
related risks and opportunities, continue to serve as input into
Scott’s existing strategy and risk processes in FY25. Scott’s
scenario analysis process followed six key steps. These are
outlined below, at a high level.
1
Engage key
personnel &
stakeholders
4
Explore drivers:
map temperature
pathways &
outcomes
2
Set analysis
boundaries & ask
focal question
5
Scenario
narrative
development
3
Identify, assess
& prioritise
climate-related
drivers
6
Quantify
narratives &
begin to assess
resilience
The scenario planning process outlined above had the full
backing and participation of the Executive Management Team
in FY24. The Audit and Risk Committee also had oversight of
the process with regular updates in FY24, and in FY25 the
outputs of the scenario process were initially approved by the
ARC on the 21 August 2024 and subsequently reviewed at the
ARC meeting on 16 October 2025.
Scott engaged the external sustainability consulting firm,
Tadpole, to support and facilitate the creation of our first
and second Climate-related Disclosures, including the
development and delivery of the scenario analysis process in
FY24, in line with XRB guidelines.
Scenario Analysis Narratives
Based on the outputs from our scenario analysis, Scott
developed three narratives to illustrate how we consider key
climate-related trends may unfold over time and their potential
impacts on our business and wider industry. These narratives
(which were also used during Transition Planning in FY25) are
outlined below.
Orderly - Net Zero
The NGFS assumes the world shifts immediately and smoothly
towards a sustainable path in response to the impacts of
climate change. It assumes consumer behaviour increasingly
favours organisations focusing on climate action, and therefore
we anticipate an increasing demand (and pressure) for low-
emissions products, with a strong willingness from the market
to adopt and pay for these. Manufacturers are at the epicentre
of this shift. The robotics and automation sector undergoes
transformation and growth, with substantial investments in
research and development, which could lead to breakthroughs
in energy-efficient automation. These advancements
optimise energy use, reduce waste and enhance efficiency in
manufacturing and logistics, making it a solid investment for
organisations in these sectors.
Robotics and automation are also seen as a solution to manage
the impacts of an ageing population, while playing a crucial role
in creating resilient supply chains, capable of adapting to climate-
related disruptions. Increased data use and transparency enable
businesses to make more informed decisions, aligning product
categories with evolving consumer and business expectations.
Broadscale electrification also occurs within industries as they
race to decarbonise and this investment in capital temporarily
pushes commodity prices upwards as heavy emitters are forced
to rein emissions in.
We foresee that growth in critical mineral demand increases,
and the mining sector sees continued strong growth, increasing
the market size for Scott’s mining products. However, this
growth also means there are increased regulations on land and
resource use, traceability and modern slavery commitments.
Scott Technology Limited
Page 32

Heavy vehicle electrification and automation sees Scott leverage
its IP into new sectors.
Globally, consistent and strong political ambition across parties
signals the market to decarbonise immediately and rapidly,
supported by industry consultation and policy certainty. There
is a growing trend of climate litigation against organisations
that are not perceived to be contributing sufficiently to
sustainability efforts. Organisations that move quickly to
adapt and prepare for the impacts of climate change reap the
benefits of customer and employee loyalty, strong commercial
relationships and are well prepared to weather the period of
uncertainty in the 2020s and 30s.
Disorderly – Delayed Transition
The NGFS assumes that throughout the 2020s, economic
pressures dominate society’s focus, seeing climate action
deprioritised in favour of other issues. Climate change mitigation
is seen as a nice-to-have rather than a necessity. Some
forward-looking companies invest in decarbonisation but this
is typically at the fringes. Despite national emissions targets,
even well-intentioned companies struggle to transition, delaying
investments in circularity, low-emissions products and the
technology required to decarbonise their operations.
The response to climate change is characterised by ambitious
commitments but poor follow-through until panic begins to
spread among the general population and businesses in the late
2020s and early 2030s. In response, governments introduce a
series of policies aimed at rapidly transitioning the economy
to low emissions. Although well intentioned, these policies,
developed with minimal consultation and deployed haphazardly,
lead to unforeseen externalities. Farmers are hit particularly
hard as regulations target methane reduction and consumers
move away from high-emissions food. Only those who
demonstrate low-emissions production credentials win in the
marketplace and the sector sees fast consolidation. Operating
costs increase due to regulation-related rises in the price of
energy, fuel, transport and rent.
Organisations scramble to mobilise transition plans, requiring
fast decisions on asset divestment, product portfolio changes
and decarbonisation strategies. Scott’s customers increasingly
demand information on its emissions footprint and product-
level data, requiring Scott to rapidly develop this capability.
Internationally there is significant variation in domestic policy,
creating an environment of uncertainty and complexity. The
disjointed nature of the transition and associated policies
create friction when accessing raw materials, compounded by
exploitation, lumpy demand and chaotic planning – all of which
increase costs and complexity.
Access to finance and insurance hinges on comprehensive
transition planning and disclosure. Insurance for high-carbon
activities or at-risk locations becomes increasingly expensive or
unavailable as insurance companies withdraw from these
markets. Organisations that can demonstrate their progress
towards climate security can access discounted capital, and
the growth of green bonds and loans increases dramatically.
There are significant benefits available to organisations that
transition rapidly.
Hot House World – Current Policies
The NGFS assumes that from the present day to 2050,
no additional climate policies are implemented. Physical
impacts of climate change continue to affect all areas
of the economy. Acute climate events cause road and
bridge closures, while chronic impacts degrade coastal
infrastructure and working conditions within warehousing.
Legacy infrastructure becomes unreliable and traditional
routes become unusable for significant periods, impacting
Scott’s ability to efficiently source and move products.
Increased wind speeds, wave swell and storms hamper
New Zealand’s already remote ocean-based supply chains.
The workforce faces increasing pressure to maintain service
levels, leading to stress and workforce attrition. Costs
escalate and customers become unwilling or unable to pay,
making access to finance highly problematic.
New Zealand, Australia and the rest of the world
focus on prioritising food and energy security, leading
to uncontrolled emissions growth. Highly cyclical
governments with unclear decarbonisation objectives
dampen long-term planning and funding is directed
toward adapting to the changing climate rather than
developing mitigation strategies. The lack of effective
mitigation efforts and disagreements on climate action
exacerbate existing social tensions.
Climate mitigation technology development lacks direction,
with minimal emphasis on reducing emissions. Technology
adoption and automation are seen as critical enablers for
organisations to adapt to the changing climate and Scott’s
growth is rapid as it leverages its IP into new sectors and
automation is increasingly utilised.
Previous reliance on the consistent supply of raw materials
is called into question as manufacturers start to see
suppliers impacted by the effects of climate change in some
source locations. The historically reliable logistics network
starts to crack, impacting the long complex supply chains
for raw materials.
These impacts are exacerbated by geopolitical tensions
and protectionism, as countries begin to prioritise their
own resources. Some source locations become untenable,
and organisations must develop strategies to de-risk
themselves. Despite these challenges, some businesses find
opportunities in developing resilient systems and innovative
Annual Report 2025
Page 33

solutions to manage climate impacts. Companies that can
adapt to the harsh realities of a hot house world, by leveraging
advanced technologies and diversifying supply chains, may
still achieve success, albeit with higher operational costs and
increased risk management complexity. However, the overall
business environment remains challenging, with significant
uncertainties and heightened competition for resources and
market share.
Climate-related Risks and Opportunities
Our scenario analysis in FY24 helped us to identify a range of
potential physical and transition climate-related risks and
opportunities that could materialise over our three-time
horizons. The assessment included possible impacts on
the value chain and geographies, potential mitigation
measures and anticipated severity across short-, medium-,
and long-term horizons.
These risks and opportunities continue to be relevant in the
second reporting period, following further examination as part
of the 2025 Transition Planning process. The Board also reviewed
and approved Scott’s climate-related risks and opportunities
in FY25, following updates to some descriptions and severity
ratings. Additional detail on how climate-related risks and
opportunities inform Transition Planning is provided in the
‘Transition Plan’ section of this report.
The anticipated financial impacts of our climate-related risks
and opportunities, and the time horizons over which these may
occur, will be undertaken in our third reporting year, utilising
XRB’s NZ CS 2 Adoption Provision 2 and the extension provided
for the second year of reporting.
The complete list of our climate-related risks, opportunities and
potential impacts in FY25 is presented on the following pages.
Scott Technology Limited
Page 34
A European FMCG customer is using case alignment for layered palletisations - a key feature within the MHL ecosystem.

Description
of risk
Description of
anticipated impact
Net Zero
2050
Delayed
Transition
Hot House
World
Value chain
impacted
GeographyBusiness
response
Acute physical risks and severe weather
Significant
increase in
the quantum
and severity of
weather events
Severe weather events such
as floods, fires and storms
significantly impact transport
and logistics operations and
infrastructure. This can result
in challenges to delivery,
inability to unload, store and
distribute Scott products.
Freight,
Installation
AllRisks included
in Risk Register
discussion with
Board and inventory
levels optimised to
ensure supply is not
affected.
Transitional – customer
Changing
consumer
habits
With societal norms moving
away from industries that
are believed to be high
emitters of carbon, i.e. red
meat, one of Scott’s core
business pillars decreases.
End to endNZ
AU
US
Monitoring protein
sector while
exploring alternative
opportunities as they
arise.
Transition – political
Access to raw
materials
With an increasing demand
for raw materials and more
protectionist policies from
some countries, Scott is
forced to invest in inventory
levels to ensure security over
supply.
Component
manufacturing,
Servicing,
upgrades
AllRisks included
in Risk Register
discussion with
Board and inventory
levels optimised to
ensure supply is not
affected.
Increased
variance
in global
regulations
Globally, regulations are
increasing and are different
by each geography creating
complexity in navigating a
global business. Uncertainty
of incoming regulations and
lack of lead time to adjust to
incoming regulations.
Head Office
(Strategy)
AllMonitor key markets
for any divergence
and ensure strategy
allows for any
changes in demand.


Carbon
border taxes
/ adjustments
– traceability
(carbon
leakage)
Increased prevalence of
carbon border adjustments
and emissions reporting /
traceability.
Head Office
(Strategy),
Freight
AllMonitor key markets
for any divergence
and ensure strategy
allows for any
changes in demand.
Increase in
tariffs
Globally, tariffs are
increasing, impacting
geographies that Scott can
participate in. Increases
costs of goods, reduced
competitiveness
Head Office
(Strategy)
AllMonitor key markets
for any divergence
and ensure strategy
allows for any
changes in demand.
PHYSICAL AND
TRANSITION RISKS

Severity of impactTime horizon
Low
Moderate
High
Short term
Medium term
Long term
Annual Report 2025
Page 35
A European FMCG customer is using case alignment for layered palletisations - a key feature within the MHL ecosystem.

Description
of risk
Description of
anticipated impact
Net Zero
2050
Delayed
Transition
Hot House
World
Value chain
impacted
GeographyBusiness
response
Transition – economic
Access to
insurance
With more frequent weather
events causing an increase in
insurance payouts, both the
cost and access to insurance
becomes more prohibitive.
End to endAllInsurance included
on Risk Register and
levels of insurance
discussed with
directors.
Access to
finance
With a changing landscape
for consumers and investors
and a re-deployment of
capital towards more
‘green-based’ industries or
technologies, it is harder
to raise funding through
traditional methods.
End to endAllFinance included
on Risk Register and
levels of financing
needed discussed
with directors.
Mining industry
reduction in
stability due
to changing
demand
The mining industry,
traditionally very stable, will
see increasing change –
both upwards (increasing
demand for minerals
needed in decarbonisation
technology) and downwards
(significant reduction or
elimination of coal mining;
increased recycling of
products leading to reduced
demand for other freshly
mined minerals). This may
be difficult for Scott to
navigate.
Component
manufacturing,
Installation,
Servicing
NZ
AU
Monitoring mining
sector while
exploring alternative
opportunities as
they arise.
Transition – legal
Directors
and officers
responsibilities
Increased litigation against
directors and officers –
requirements for additional
education.
Head Office All (will
affect local
directors
as well)
Ensure directors
are educated and
insured.
Reporting and
compliance
Increased requirements for
reporting and compliance –
resourcing, cost.
Head OfficeAllEnsure reporting
process is robust and
educate key staff in
this area.
Transition – operational
Impacts on the
global freight
system
Changes in network
vulnerability of the freight
system can increase costs
and create scheduling
volatility
Freight,
Installation,
Servicing,
Upgrades
AllRisks included
in risk register
discussion with
board and inventory
levels optimised to
ensure supply is not
affected.
Severity of impactTime horizon
Low
Moderate
High
Short term
Medium term
Long term
Physical and transition risks continued
Scott Technology Limited
Page 36

Time horizon
Short term
Medium term
Long term
Opportunity
Net Zero
2050
Delayed
Transition
Hot House
World
Value chain
impacted
GeographyBusiness
response
Growth in mining sector
As the transition to a low-emissions
economy requires significant amounts
of minerals and semi-precious metals,
growth in the mining sector is likely and
there is an opportunity to grow Scott’s
mining division.
Mining
division
Mining
customer
locations
Monitor key markets for
any opportunities and
ensure strategy allows for
any changes in demand.
Opportunity to change business model to reduce travel and freight
More distributed business model reduces
carbon footprint as well as saving the
cost of travel and freight. Opportunities
to engage with 3rd party providers –
e.g. distributed additive manufacturing
operations – to produce to our designs
and / or support customers on our behalf
(a more flexible business model).
Freight,
Installation,
Service,
Upgrades
AllReview strategy and
structure to ensure the
most efficient internal
supply chain possible.
Transition from red meat to alternative consumption
Opportunity to transition / grow in
different markets and / or sectors.
Head Office
(Strategy)
AllMonitor key markets for
any opportunities and
ensure strategy allows for
any changes in demand.
Drive for low-carbon mining
Opportunity to transition / grow in
different markets and / or sectors.
End to endNZ
AU
Monitor key markets for
any opportunities and
ensure strategy allows for
any changes in demand.
Leveraging Scott's IP and experience into sectors outside where we currently participate
Opportunity with ageing populations
globally and labour shortages. Scott can
leverage its experience into new sectors.
End to endAllMonitor key markets for
any opportunities and
ensure strategy allows for
any changes in demand.
Access to funding and government incentives
Government funding and R&D funding.Head Office
(Strategy)
NZ
AU
US
Monitor key markets for
any opportunities and
ensure strategy allows for
any changes in demand.
OPPORTUNITIES
Severity of impactTime horizon
Small
Moderate
Large
Short term
Medium term
Long term
Annual Report 2025
Page 37

The Role of Risks and Opportunities in
Transition Planning
Within Scott’s Transition Planning process, our identified climate-
related risks and opportunities were further reviewed and refined
to guide prioritisation and inform the development of potential
action plans.
Capital Deployment
We are currently determining how climate-related risks and
opportunities serve as an input to our internal capital deployment
and funding decision-making processes. However, Scott continues
to commit capital towards decarbonisation initiatives, including
the installation of vehicle charging facilities at our European sites.
TRANSITION PLAN
Scott Business Model and Strategy
Scott designs and delivers automation and robotics solutions
for global manufacturers, spanning food, mining and
industrial sectors. Revenue is generated through large-scale
project contracts, equipment sales and recurring service and
support offerings.
In FY25 we launched Destination 2030, Scott’s five-year roadmap
for sustainable, profitable growth.
With an ambitious dot set on the horizon to grow revenue to
$530m by 2030, with over 35% of this generated from deeply
embedded lifecycle services. The strategy is built on four
enablers that provide the foundation for a long-term cycle of
success: Customer First, One Scott, Leading-Edge Technology,
and High-Performing Teams. Together, these enablers evolve
Scott from an engineering mindset into a Customer First one
that anticipates customer needs, delivers innovation-led
growth through globally aligned unified teams and embeds
value across the full automation lifecycle.
Scott operates across four domains
– Protein, Mining,
Appliances, and Materials Handling – with a global footprint
spanning nine countries. This diversification strengthens our
resilience, mitigates market risk and allows us to leverage world-
class technical expertise across industries and geographies.
Our automation ecosystems are designed to improve
efficiency, enhance safety and productivity, reduce costs
and create sustainability benefits for customers. This value
proposition strengthens long-term partnerships with
key accounts and unlocks opportunities in new markets.
Consideration of climate-related risks and opportunities is now
embedded into our strategy and transition planning, ensuring
Scott’s growth is aligned with our ESG commitments and the
expectations of our stakeholders.
Scott’s operations as described above are also presented in the
company value chain, provided below.
Iron Ore
Oil
Chalcopyrite
Silicon
Other
Steel
Plastic
Copper
Electronic
Other
Robots
Steels
Controls
Motor/Gearbox
Other
FreightEnergy
DisassemblyFreight
Installation
Assembly
FreightServicingUpgrades
End of life
Freight
Component
Manufacture
Value Chain
Scott Technology Limited
Page 38

Background on Transition Planning
Transition Planning asks an organisation to evaluate how its
business model and strategy may need to adapt to stay resilient
to climate impacts while remaining competitive in a low-
emissions, climate-aligned economy. This process includes stress-
testing existing strategic assumptions against a range of plausible
climate futures and considering how significant climate-related
risks and opportunities may alter an organisation’s long-term
course. The objective is to determine whether the current
strategy is adequate or whether adjustments are necessary
to respond effectively to the challenges and opportunities
presented by different climate pathways.
The Transition Planning Process at Scott
Scott’s Transition Planning process provides a structured
means of aligning current and future sustainability initiatives
and climate risk mitigation or adaptation measures with a
longer-term perspective than is typically applied in strategic
planning. Over time, this process is intended to be fully
embedded into the company’s broader business strategy,
creating a single, integrated strategic framework.
Our process built on the scenario analysis conducted in FY24,
which examined three NGFS-aligned climate pathways to 2050
and identified 18 climate-related risks and opportunities.
These risks and opportunities represent factors that could
materially influence Scott’s operating environment as both
global and domestic climate responses progress. They
formed the foundation for Year Two’s Transition Planning,
which concentrated on exploring strategic implications and
evaluating organisational preparedness.
Transition Planning Inputs
As part of our Transition Planning, we concentrated on six
priority risks and opportunities – those considered as having
the most significant potential to influence the company’s long-
term resilience and strategic direction.
1. Significant increase in the quantum and severity of
weather events
2. Access to raw materials
3. Increased variance in global regulations
4. Access to insurance
5. Impacts on the global freight system
6. Leveraging Scott’s IP and experience into sectors outside
where the business currently participates.
We also evaluated a mix of internal and external drivers to
assess how they currently influence our strategic ambition
and how those influences could evolve under varying climate
scenarios. Taking this longer-term perspective out to 2050
identified areas where elements of the strategy may need to
adapt to remain both competitive and aligned with a climate-
constrained economy. The assessment pointed to six potential
strategic priorities that could shape Scott’s future direction:
1. Continued focus on decarbonising operations and the wider
value chain
2. Greater engagement in enabling and supporting the broader
economy-wide transition
3. Adjusting to shifting societal expectations and customer
preferences
4. Recalibrating the company’s risk appetite to reflect
heightened climate-related uncertainty
5. Continuing to seek out and develop flexibility of the
business model to further mitigate potential end-to-end
value chain susceptibility
6. To maintain a strong pace of technology adoption –
particularly in climate-related innovations – to enhance and
distinguish the customer proposition.
To further understand the potential shifts our business
model and strategy might experience, we also reviewed the
foundational assumptions underlying our current business
model and strategy. These are the assumptions that are typically
expected to remain stable over time and are not always explicitly
considered in strategic planning and decision-making.
It was important to test just how stable the assumptions
can be when challenged by our key climate-related risks and
opportunities identified above. By testing the foundational
assumptions against the priority climate-related risks and
opportunities, eight were considered to be at risk of material
change.
1. Democracy, enabling the rule of law that protects property
and rights
2. Free trade agreements underpinning a commercially reliable
and low-risk global trade system
3. A continuously growing economy
4. Freight infrastructure (air passage, ports, rail and roading)
remains operational
5. A reliable and low-risk global trade system in advanced
components and finished automation solutions
6. Sufficient water is available for cooling and other industrial
uses at manufacturing sites
7. Continued access to critical raw materials and components
8. Access to insurance
The potential erosion of any of these assumptions could
materially affect business resilience, underscoring the importance
of strategic flexibility.
Initial Focus Areas for FY26
In light of our key inputs (those being our prioritised climate-
related risks and opportunities, strategic ambition shifts
and the uncertainty around foundational assumptions, we
evaluated our Year One mitigations to assess if these were
Annual Report 2025
Page 39

sufficient to address these findings. From this process, we
intend to focus on three mitigation areas for development
in FY26. These are related to: responding to the significant
increase in the quantum and severity of weather events,
managing access to raw materials and remaining resilient
to the potential impacts climate change has on the global
freight system.
In addition to potential mitigations, we also evaluated our
current business initiatives to assess whether these measures
were sufficient to address our key inputs and the anticipated
changes that may arise.
Our current initiatives focus on decarbonising our business,
which is one of our six strategic priorities and is closely linked
to our prioritised climate-related risks and opportunities (for
example, the increased variance in global regulations and
access to insurance).
A summary of our initiatives are provided below:
• Transition of the fleet to hybrid and electric vehicles
• Servicing decentralisation in Australia to reduce travel
distances
• Electrification of the forklift fleet
• HVAC optimisation
• Optimisation of energy efficiency through modernisation
of machinery and equipment
• Inclusion of solar on our Sydney building
• Energy self-generation at other sites under investigation,
where sites allow for solar.
At this stage, we are focusing on progressing our current
decarbonisation initiatives and in FY26, we intend to centre
efforts on more broadly embedding insights from the Transition
Planning process into our business planning, updating strategic
assumptions and aligning capital deployment with a credible,
adaptive decarbonisation pathway.
RISK MANAGEMENT
Risk Management at Scott
Scott maintains a Risk Management Framework based on our
risk register. Our Executive Management Team reviews the
register before every Audit and Risk Committee (ARC) meeting
(held five times per year) to highlight any updates. The ARC
then reviews and any suggested additions or deletions, or
changes to risk profiles from the previous Risk Register, are
highlighted and flagged by management and discussed at the
ARC, with the CFO responsible for initiating the discussion.
The prioritisation of risks within the register is undertaken by
management utilising a grid that rates each risk according to
likelihood and impact to ascertain a risk score, which is then
colour coded (red/amber/green) using a pre-determined
risk score grid. Each risk is also assessed against a numeric
risk criterion, which is an estimate of quantified financial
impact to Scott, ranked from 1 (minor) to 5 (catastrophic).
At the management review, these risk scores and criteria are
documented and compared to the previous ratings.
Mitigations for these risks are also identified as part of this
process, as is the relevant link to strategic initiatives for each
risk. Owners from within the Executive Team are identified for
each risk.
The Board is responsible for overall oversight of the Risk
Management Framework. The full formal review happens at
least quarterly.
No material parts of the value chain are excluded from the risk
management processes. Time horizons within the Risk Register
align to those used during our scenario analysis process.
Integration of Climate Risks with Other
Business Risks
Climate-related risks and opportunities have been integrated
into the existing Scott Risk Management Framework in FY24
and FY25 and are reviewed in the same cycle as all business
risks. The Board has oversight of these processes. The
climate-related risks identified through scenario analysis are
also maintained separately and are assessed and reviewed
in the same cycle and forums as the overall integrated rRisk
Management Framework, at a minimum annually.
Scott Technology Limited
Page 40

METRICS AND TARGETS
Metric Categories
Scott understands the importance of providing detail
in relation to the sustainability metrics we focus on and
ensuring these metrics are appropriately measured and
disclosed. Our primary climate reporting metric is our GHG
emissions both in absolute and intensity terms. This metric
informs the progress of our decarbonisation activities.
Below is a summary of Scott’s Scope 1 and 2 Greenhouse Gas
(GHG) emissions. The business notes that an internal emissions
price is not employed over this reporting period. As such, for the
purposes of primary users this price may be interpreted as $0.
Absolute Scope 1 and 2 GHG emissions
Absolute Scope 1 and 2 GHG emissions for the Group in
FY25 totalled 1,638 tonnes CO
2
e. Scope 1 emissions come
from the combustion of transport fuel by the company’s car
and forklift fleet. Other Scope 1 emission sources include
stationary fuel used for heating and in back-up generators, lost
refrigerant gases and gases used in welding. Scope 2 emissions
come from the generation of purchased electricity, and are
location based (meaning we calculate them on the basis that
we consume electricity from national and state grids).
Tonnes CO
2
e
FY22* FY23*FY24*FY25
Scope 1
(ISO Category 1)

– Transport fuel
764 670807 735
– Stationary fuel for heating
216 193239 214
– Fugutive emissions
4411 3
Scope 2
(ISO Category 2)
787 737760 686
Total1,811 1,6011,807 1,638
FY25 Scope 1 emissions by source
* Unassured
Natural gas
for heating
21%
Forklift
fuel
2%
Diesel for
heating
2%
Company
cars
75%
Welding
gases
0.3%
FY25 Scope 1 emissions by sourceFY25 Scope 1 emissions by source
Annual Report 2025
Page 41

CO
2
e emissions by region and by scope, FY22 - FY25*
Group CO
2
e emissions by source, FY22 – FY25*
Intensity emissions*
Scope 1 Scope 2
In addition to measuring and tracking our absolute emissions,
we track intensity emissions to understand our ‘carbon
efficiency’ and how it is changing over time.
Tonnes CO
2
e
FY22FY23 FY24FY25
Total gross Scope
1 and Scope 2
emissions per
$m revenue8.175.99 6.545.95
Climate impact on assets and business activities
Our understanding from the work we have completed
through scenario analysis and identification of risks and
opportunities conducted in FY24 and reviewed in FY25
suggests that all areas of our business are susceptible to
the impacts of climate change. Whether these materialise
as risks or opportunities depends on our approach to
them, the magnitude and speed of the impact’s onset
and the preparation we have undertaken prior to the risk
materialising, if at all. Additionally, given that we are a global
business, it is clear that physical and transition risks will
impact different areas of our business in a variety of ways.
However, the degree of business activity or asset vulnerability
(or alignment) to our risks and opportunities has not yet
764
670
807
735
216
193
239
214
787
44
1
1
3
737
760
686
FY22FY23FY24FY25
Transport fuelStationary fuelFugitive emissionsElectricity
764
670
807
735
216
193
239
214
787
44
1
1
3
737
760
686
FY22FY23FY24FY25
Transport fuelStationary fuelFugitive emissionsElectricity
0
200
400
600
800
1,000
1,200
FY22FY23FY24FY25FY22FY23FY24FY25FY22FY23FY24FY25FY22FY23FY24FY25
EUANZCNUS
* this graph is not subject to assurance
* this graph is not subject to assurance
* intensity emissions are not subject to assurance
Scott Technology Limited
Page 42

been measured in detail. Scott considers that meaningful
quantification of exposure or alignment across assets and
activities is closely linked to our evaluation of anticipated
financial impacts – work that will be undertaken in FY26. As
such, we expect to quantify the proportion of assets and
activities expected to be impacted by risks and opportunities in
our third Climate-related Disclosures.
Ta r g e t s
We have set a short-term Scope 1 and 2 absolute emissions
reduction target of 30% by FY30. This is against a FY22 Base Year.
This is not a target that supports limiting global warming to 1.5 °C,
as defined by the Science Based Targets Initiative (SBTi).
Implementation of our Scope 1 and 2 decarbonisation strategy,
outlined in the Transition Plan section of this report (pages 38
- 40), is currently under way. Our FY25 footprint indicates the
strategy is having a positive impact, with emissions down 9%
on last year and 10% on FY22. In terms of progress against our
target, we look to be tracking well.
In our endeavours to achieve our short-term target, offsets will
not be considered.
Notes about our GHG measurement
These inventories have been measured in compliance with
ISO 14064-1 (2018) using an operational control consolidation
approach. All emissions that Scott has direct control over are
covered. The organisational boundary of the inventory is that of
our financial statements, covering all subsidiaries listed on page
107. No facilities, assets or operations have been excluded.
Emissions factors used in the measurements are country
specific, sourced from the following agencies:
• New Zealand Ministry for the Environment (MfE)
• Australian Government’s Department of Industry, Science,
Energy and Resources
• US Environmental Protection Agency (EPA)
• UK Government’s Department for Energy Security and
Net Zero (DESNZ)
• Carbonfootprint.com (for European country electricity
emissions factors).
For the FY25 measurement we used emissions factors with AR5
Global Warming Potentials (GWP) derived from the International
Panel of Climate Change Fifth Report (AR5). Emissions have
been calculated by applying the appropriate emissions factors to
Scope 1 and 2 activity data.
Few assumptions or estimations have been made in measuring
Scope 1 emissions. Uncertainty is low as calculations are activity
based using emissions factors with +/- 0.7% to 2.4% uncertainty
(MfE). In the calculation of transport fuel emissions for the
Australian division, fuel quantity has been estimated from spend
data in lieu of quantity data. In this instance, an assumed average
fuel price of 1.87 AUD per L has been applied (diesel). For Scope
2 electricity emissions, calculations use ICP meter data, which is
assumed accurate.
Emissions
source
Data
source
Methodology,
assumptions and
uncertainty
Scope 1 (ISO Category 1)
Transport
fuels
Supplier
invoices /
statements (L)
Activity based. Assumes data
in supplier invoices is free
from error. Uncertainty
impact low.
Transaction
records ($)
Where L data does not exist
(Australian operations), quantity
is assumed based on annual
average price of fuel ($ / L). Low
uncertainly impact.
Stationary
fuels
Supplier
invoices /
statements
(m3, kWh, kg
or L)
Activity based. Assumes data
in supplier invoices is free
from error. Uncertainty
impact low.
Fugitive
emissions
– welding
gases
Supplier
invoices /
statements
(kg)
Activity based. Assumes data
in supplier invoices is free
from error. Uncertainty impact
low.
Fugitive
emissions
– refrigerant
gases
Service
provider
invoices
or service
records (kg)
Activity based. Assumes
top-up quantity is equal to
quantity lost and data in
invoices / service records is
free from error. Uncertainty
impact low, noting no loss in
refrigerant gases in FY25.
Scope 2 (ISO Category 2)
Purchased
electricity
– sites
Supplier
invoices /
statements
(kWh)
Location based. Uncertainty low
as data is from meters and likely
to be free from error. Country-
specific emissions factors have
been used for New Zealand,
Europe and China. State
emissions factors have been
used for Australia and USA.
Selected Scope 1 and 2 emissions disclosed in these Climate-
related Disclosures have been subject to an independent
limited assurance engagement by Deloitte Limited in
accordance with NZ SAE 1: Assurance Engagements over
Greenhouse Gas Disclosures (‘NZ SAE 1’). Refer to the
assurance report on pages 44 to 46.
Previous assurance statements can be found on our website,
www.scottautomation.com/en/news-and-events/30-by-30.
Annual Report 2025
Page 43

Subject matter: Selected GHG DisclosuresReference
GHG emissions: gross emissions in metric tonnes of Carbon dioxide equivalent (‘CO2e’) classified as:
• Scope 1
• Scope 2 (calculated using the location-based method).
Pages 41
Additional requirements for the disclosure of gross GHG emissions per paragraph 24 (a) to (d) of Aotearoa New Zealand
Climate Standard 1: Climate-related Disclosures (‘NZ CS 1’), being:
• The statement describing that the GHG emissions have been measured in accordance with International Standard
ISO 14064-1 Greenhouse gases – Part 1: Specification with guidance at the organisation level for quantification and
reporting of greenhouse gas emissions and removals (‘ISO 14064-1:2018’);
• The statement that the GHG emissions consolidation approach used is operational control;
• Sources of Scope 1 and 2 GHG emission factors and the global warming potential (‘GWP’) rates used or a reference
to the GWP source; and
• The summary of specific exclusions of Scope 1 and 2 GHG emissions sources (if applicable), including facilities,
operations or assets with a justification for their exclusion.
Page 43
Disclosures relating to GHG emissions methods, assumptions and estimation uncertainty per paragraphs 52 to 54 of
Aotearoa New Zealand Climate Standard 3: General Requirements for Climate related Disclosures (‘NZ CS 3’):
• Description of the methods and assumptions used to calculate or estimate Scope 1 and 2 GHG emissions, and the
limitations of those methods.
• Description of uncertainties relevant to the Group’s quantification of its Scope 1 and 2 GHG emissions, including the
effects of these uncertainties on disclosures.
Page 43
Limited Assurance Conclusion
Based on the procedures we have performed and the
evidence we have obtained, nothing has come to our
attention that causes us to believe that the Scope 1 and
2 gross GHG emissions, additional required disclosures of
gross GHG emissions, and gross GHG emissions methods,
assumptions and estimation uncertainty, within the scope
of our limited assurance engagement (as outlined below),
included in the Group Climate Statements of Scott Technology
Limited (the ‘Company’) and its subsidiaries (the ‘Group’)
for the year ended 31 August 2025 (the ‘Selected GHG
Disclosures’), are not fairly presented and not prepared, in all
material respects, in accordance with Aotearoa New Zealand
Climate Standards (‘NZ CSs’) issued by the External Reporting
Board (‘XRB’), as explained on page 27 of the Group Climate
Statements.
Scope of Assurance Engagement
We have undertaken a limited assurance engagement over
the Selected GHG Disclosures within the Group Climate
Statements for the year ended 31 August 2025, as set out
below.
Our engagement has not covered Scope 3 GHG emissions as
the Group is taking advantage of the one-year extension to
the adoption provision so will not be reporting the Scope 3
GHG emissions for the year ended 31 August 2025.
Our report does not cover any forward-looking statements
made by the Group, any external references or hyperlinked
documents.
Our limited assurance engagement does not extend to any
other information included, or referred to, in the Annual
Report including the Group Climate Statements on pages 1 to
For the year ended 31 August 2025
INDEPENDENT LIMITED ASSURANCE REPORT ON SELECTED
GREENHOUSE GAS (‘GHG’) DISCLOSURES INCLUDED
WITHIN THE GROUP CLIMATE STATEMENTS (ALSO
REFERRED TO AS THE CLIMATE-RELATED DISCLOSURES)
FOR SCOPE 1 AND 2 GHG EMISSIONS
To the Shareholders of Scott Technology Limited
Scott Technology Limited
Page 44

40, 42 and 44 to 120. We have not performed any procedures
with respect to the excluded information and, therefore, no
conclusion is expressed on it.
Other Matter – Comparative Information
The comparative GHG disclosures (that is GHG disclosures
for the periods ended 31 August 2022, 31 August 2023
and 31 August 2024) have not been the subject of an
assurance engagement undertaken in accordance with New
Zealand Standard on Assurance Engagements 1: Assurance
Engagements over Greenhouse Gas Emissions Disclosures (‘NZ
SAE 1’). These disclosures are not covered by our assurance
conclusion.
Director’s Responsibilities for the Selected
GHG Disclosures
Directors are responsible for the preparation and fair
presentation of the Selected GHG Disclosures in accordance
with NZ CSs, which includes determining and disclosing the
appropriate standard or standards used to measure the
Group’s GHG emissions. This responsibility includes the design,
implementation and maintenance of internal controls relevant
to the preparation of GHG disclosures that are free from
material misstatement whether due to fraud or error.
Inherent Uncertainty in Preparing Selected GHG
Disclosures
Non-financial information, such as that included in the Group
Climate Statements, is subject to more inherent limitations
than financial information, given both its nature and the
methods used and assumptions applied in determining,
calculating and sampling or estimating such information. GHG
quantification is subject to inherent uncertainty because of
incomplete scientific knowledge used to determine emissions
factors and the values needed to combine emissions of
different gases.
As the procedures performed for this engagement are not
performed continuously throughout the relevant period
and the procedures performed in respect of the Group’s
compliance with NZ CSs are undertaken on a test basis, our
limited assurance engagement cannot be relied on to detect
all instances where the Group may not have complied with
the NZ CSs. Because of these inherent limitations, it is possible
that fraud, error or non-compliance may occur and not be
detected.
In addition, we note that a limited assurance engagement
is not designed to detect all instances of non-compliance
with the NZ CSs, as it generally comprises making enquires,
primarily of the responsible party, and applying analytical and
other review procedures.
Our Responsibilities
Our responsibility is to express an independent limited
assurance conclusion on the Selected GHG Disclosures, based
on the procedures we have performed and the evidence we
have obtained.
We conducted our limited assurance engagement in
accordance with NZ SAE 1 and International Standard on
Assurance Engagements (New Zealand) 3410: Assurance
Engagements on Greenhouse Gas Statements (‘ISAE (NZ)
3410’), issued by the XRB. These standards require that
we plan and perform this engagement to obtain limited
assurance about whether the Selected GHG Disclosures are
free from material misstatement.
Our Independence and Quality Management
We have complied with the independence and other ethical
requirements of NZ SAE 1, which is founded on fundamental
principles of integrity, objectivity, professional competence
and due care, confidentiality and professional behaviour.
We have also complied with the following professional and
ethical standards:
• Professional and Ethical Standard 1: International Code of
Ethics for Assurance Practitioners (including International
Independence Standards) (New Zealand);
• Professional and Ethical Standard 3: Quality Management
for Firms that Perform Audits or Reviews of Financial
Statements, or Other Assurance or Related Services
Engagements which requires us to design, implement
and operate a system of quality management including
policies and procedures regarding compliance with ethical
requirements, professional standards and applicable legal
and regulatory requirements; and
• Professional and Ethical Standard 4: Engagement Quality
Reviews.
Other than in our capacity as the statutory auditor of the
financial statements and as assurance practitioner, we have
no relationship with or interests in the Group.
As we are engaged to form an independent conclusion on
the Selected GHG Disclosures prepared by the Group, we are
not permitted to be involved in the preparation of the GHG
information as doing so may compromise our independence.
Annual Report 2025
Page 45

Summary of Work Performed
Our limited assurance engagement was performed in
accordance with NZ SAE 1 and ISAE (NZ) 3410. This involves
assessing the suitability in the circumstances of Group’s use
of NZ CSs as the basis for the preparation of the Selected
GHG Disclosures, assessing the risks of material misstatement
of the Selected GHG Disclosures whether due to fraud or
error, responding to the assessed risks as necessary in the
circumstances, and evaluating the overall presentation of the
Selected GHG Disclosures.
A limited assurance engagement is substantially less in scope
than a reasonable assurance engagement in relation to both
the risk assessment procedures, including an understanding
of internal control, and the procedures performed in response
to the assessed risks.
The procedures we performed were based on our
professional judgement and included enquiries, observation
of processes performed, inspection of documents, analytical
procedures, evaluating the appropriateness of quantification
methods and reporting policies, and agreeing or reconciling
with underlying records. In undertaking our limited assurance
engagement on the Selected GHG Disclosures, we:
• Obtained, through inquiries, an understanding of the Group’s
control environment, processes and information systems
relevant to the preparation of the GHG disclosures. We did
not evaluate the design of particular control activities, or
obtain evidence about their implementation.
• Evaluated whether the Group’s methods for developing
estimates are appropriate and had been consistently applied.
Our procedures did not include testing the data on which
the estimates are based or separately developing our own
estimates against which to evaluate the Group’s estimates.
• Performed analytical procedures on particular emission
categories by comparing the expected GHGs emitted to actual
GHGs emitted and made inquiries of management to obtain
explanations for any significant differences we identified.
• Considered the presentation and disclosure of the Selected
GHG disclosures.
This limited assurance report relates to the Selected GHG Disclosures included within the Group Climate Statements for
the year ended 31 August 2025 included on the Group’s website. The Directors are responsible for the maintenance and
integrity of the Group’s website. We have not been engaged to report on the integrity of the Group’s website. We accept no
responsibility for any changes that may have occurred to the Selected GHG Disclosures included within the Group Climate
Statements since they were initially presented on the website.
The limited assurance report refers only to the Selected GHG Disclosures included within the Group Climate Statements
named above. It does not provide an opinion on any other information which may have been hyperlinked to/from these
disclosures. If readers of this report are concerned with the inherent risks arising from electronic data communication, they
should refer to the published hard copy of the Group Climate Statements that include these Selected GHG Disclosures and
related limited assurance report dated 21 October 2025 to confirm the information presented on this website.
The procedures performed in a limited assurance engagement
vary in nature and timing from, and are less in extent than for,
a reasonable assurance engagement. Consequently, the level
of assurance obtained in a limited assurance engagement
is substantially lower than the assurance that would have
been obtained had we performed a reasonable assurance
engagement. Accordingly, we do not express a reasonable
assurance opinion about whether Selected GHG Disclosures
are fairly presented and prepared, in all material respects, in
accordance with NZ CSs.
Use of Our Report
Our limited assurance report (‘our Report’) is intended for
users who have a reasonable knowledge of GHG related
activities, and who have studied the GHG related information
in the Group Climate Statements with reasonable diligence
and understand that the GHG disclosures are prepared and
assured to appropriate levels of materiality.
Our Report is made solely to the Company’s shareholders,
as a body. Our limited assurance engagement has been
undertaken so that we might state to the shareholders those
matters we are required to state to them in our Report and
for no other purpose. To the fullest extent permitted by law,
we do not accept or assume responsibility to anyone other
than the Company’s shareholders as a body, for our work, for
our Report, or for the conclusions we have formed.
Andrew Dick, Partner
for Deloitte Limited
Auckland, New Zealand
21 October 2025
Scott Technology Limited
Page 46

KEY
Accounting policy
Key judgements and
other judgements made
Index to the Financial Statements
C. Capital and funding
76
C1. Share capital76
C2. Earnings and net tangible assets per share76
C3. Borrowings77
C4. Trade creditors and accruals78
C5. Leases79
C6. Employee benefits81
C7. Provision for warranty81
C8. Performance-based compensation82
C9. Onerous contract provision82
D. Risk management83
D1. Financial instruments83
E. Group structure and subsidiaries89
E1. Subsidiaries89
E2.
Investments accounted for using
the equity method90
E3. Related party transactions91
E4. Non-recurring costs92
F. Other disclosures93
F1. Notes to the consolidated statement of
cash flows
93
F2. Contingent liabilities94
F3. Key management personnel compensation94
F4. Subsequent events94
Independent auditor’s report
95
Consolidated statement of comprehensive income48
Consolidated statement of changes in equity49
Consolidated balance sheet50
Consolidated statement of cash flows51
Notes to the consolidated financial statements52
Summary of accounting policies52
A. Financial performance55
A1.
Revenue from contracts with
customers and operating expenses
55
A2. Income taxes60
A3. Segment information63
B. Assets65
B1. Trade debtors65
B2. Inventories66
B3. Contract assets / liabilities67
B4. Property, plant and equipment68
B5. Goodwill69
B6. Intangible assets72
B7. Research and development costs74
B8. Development assets74
For the year ended 31 August 2025
FINANCIAL
REPORT
Annual Report 2025
Page 47

20252024
Notes$'000$'000
RevenueA1
275,273 276,125
Other operating incomeA1 1,715 2,541
Share of joint ventures’ net surplusE2 248 63
Raw materials, consumables used and operating expensesA1 (159,320) (163,799)
Employee benefits expense
(86,377) (84,705)
OPERATING EARNINGS BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION, AND NON-RECURRING COSTS (OPERATING EBITDA)
31,539 30,225
Non-recurring costsE4
- (3,795)
OPERATING EARNINGS BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (EBITDA)
31,539 26,430
Interest revenue 365 373
Depreciation and amortisationB4, B6, B8, C5 (10,731) (11,280)
Finance costs (3,772) (4,557)
NET PROFIT BEFORE TAX 17,401 10,966
Taxation expenseA2 (3,188) (3,249)
NET PROFIT FOR THE YEAR AFTER TAX 14,213 7,717
Other Comprehensive Income
Items that may be reclassified to profit or loss:
Translation of foreign operations 4,989 (2,803)
TOTAL COMPREHENSIVE INCOME FOR THE YEAR NET OF TAX 19,202 4,914
Net profit / loss for the year after tax is attributable to:
Members of the parent entity (used in the calculations of earnings per share) 14,371 7,853
Non-controlling interests (158) (136)
14,213 7,717
Total comprehensive income / loss is attributable to:
Members of the parent entity 19,360 5,050
Non-controlling interests (158) (136)
19,202 4,914
Notes Cents per shareCents per share
Earnings per share to shareholders from continuing operations
(weighted average shares on issue):
BasicC2 17.4 9.7
DilutedC2 17.4 9.7
The accompanying notes form part of and are to be read in conjunction with these financial statements.
For the year ended 31 August 2025
CONSOLIDATED STATEMENT
OF COMPREHENSIVE INCOME
Scott Technology Limited
Page 48

For the year ended 31 August 2025
Fully paid
ordinary
shares
Retained
earnings
Foreign
currency
translation
reserve
Non-
controlling
interestsTotal
Notes$’000s$’000s$’000s$’000s$’000s
Balance at 31 August 2023 90,162 22,425 1,684 (372) 113,899
Net profit for the year after tax - 7,853 - (136) 7,717
Other comprehensive (loss) for the year net of tax - - (2,803) - (2,803)
Dividends paid (8.0 cents per share) - (7,446) - - (7,446)
Issue of shares under dividend reinvestment planC1 354 - - - 354
Balance at 31 August 2024 90,516 22,832 (1,119) (508) 111,721
Net profit for the year after tax - 14,371 - (158) 14,213
Other comprehensive income for the year net of tax - - 4,989 - 4,989
Dividends paid (6.0 cents per share) - (5,086) - - (5,086)
Issue of shares under dividend reinvestment planC1 3,437 - - - 3,437
Balance at 31 August 2025 93,953 32,117 3,870 (666) 129,274
The accompanying notes form part of and are to be read in conjunction with these financial statements.
CONSOLIDATED STATEMENT
OF CHANGES IN EQUITY
Annual Report 2025
Page 49

CONSOLIDATED BALANCE SHEET
As at 31 August 2025
20252024
Notes$’000s$’000s
Current assets
Cash and cash equivalents 12,152 11,674
Trade debtorsB1 59,607 40,201
Other financial assetsD1 503 560
Sundry debtors 5,938 5,663
InventoriesB2 38,842 36,869
Contract assetsB3 28,268 30,634
Taxation receivable 1,275 -
Assets held for sale 762 -
TOTAL CURRENT ASSETS
147,347 125,601
Non-current assets
Property, plant and equipmentB4
21,097 23,560
Investment in joint venturesE2
1,115 867
Other financial assetsD1
9 5
Sundry debtors
1,966 3,237
GoodwillB5
53,902 50,832
Deferred taxA2
374 2,761
Intangible assetsB6
2,569 3,400
Development assetsB8
10,853 8,855
Right-of-use assetsC5
30,336 24,862
TOTAL NON-CURRENT ASSETS
122,221 118,379
TOTAL ASSETS
269,568 243,980
Current liabilities
Bank overdraft
10,096 18,999
Trade creditors and accruals
C4 38,562 29,712
Lease liabilities
C5 5,622 4,660
Other financial liabilities
D1 511 245
Contract liabilities
B3 30,746 29,762
Employee entitlements
C6, C8 11,350 10,591
Provision for warranty
C7 1,118 1,541
Taxation payable
- 1,194
Borrowings
C3 2,045 1,200
Onerous contracts provision
C9 89 34
TOTAL CURRENT LIABILITIES
100,139 97,938
Non-current
liabilities
Other financial liabilities
D1 9 5
Employee entitlements
C6, C8 714 790
Lease liabilities
C5 27,167 21,987
Borrowings
C3 12,265 11,539
TOTAL NON-CURRENT LIABILITIES
40,155 34,321
TOTAL LIABILITIES
140,294 132,259
Equity
Share capital
C1 93,953 90,516
Retained earnings
32,117 22,832
Foreign currency translation reserve
3,870 (1,119)
Equity attributable to equity holders of the parent
129,940 112,229
Non-controlling interests
(666) (508)
TOTAL EQUITY
129,274 111,721
TOTAL LIABILITIES AND EQUITY
269,568 243,980
The accompanying notes form part of and are to be read in conjunction with these financial statements.
Scott Technology Limited
Page 50

20252024
Notes
$’000s$’000s
Cash flows from
operating activities
Cash was provided from / (applied to):
Receipts from operations 260,421 270,680
Interest received 364 374
Payments to suppliers and employees (235,604) (261,586)
Taxation paid (2,881) (3,496)
Net cash inflow from operating activitiesF1 22,300 5,972
Cash flows to
investing activities
Cash was provided from / (applied to):
Purchase of property, plant, equipment and intangible assets (2,621) (8,953)
Sale of property, plant and equipment 457 440
Purchase of development assetB8 (1,526) (1,384)
Net cash (outflow) from investing activities (3,690) (9,897)
Cash flows to
financing activities
Cash was provided from / (applied to):
Repayment of borrowings (3,625) (3,710)
Dividends paid (less amount reinvested the dividend
reinvestment scheme)
(1,649) (7,093)
Proceeds from borrowings 4,758 4,202
Lease payments (4,967) (4,556)
Interest paid (3,746) (4,639)
Net cash (outflow) from financing activities (9,229) (15,796)
Net (decrease) / increase in cash held 9,381 (19,721)
Add cash and cash equivalents at start of year (7,325) 12,396
Balance at end of year 2,056 (7,325)
Comprised of:
Cash and cash equivalents 12,152 11,674
Bank overdraft (10,096) (18,999)
2,056 (7,325)
The accompanying notes form part of and are to be read in conjunction with these financial statements.
CONSOLIDATED STATEMENT
OF CASH FLOWS
For the year ended 31 August 2025
Annual Report 2025
Page 51

The accounting policies set out below have been applied
in preparing the financial statements for the year ended 31
August 2025 and the comparative information presented in
these financial statements for the year ended 31 August 2024.
There have been no changes in accounting policy during the year.
The information is presented in thousands of New Zealand
dollars, which is the functional currency of the company and
the presentation currency of the Group.
Critical Judgements, Estimates and
Assumptions
In the application of NZ IFRS the directors are required
to make judgements, estimates and assumptions about
carrying values of assets and liabilities that are not readily
apparent from other sources. The estimates and associated
assumptions are based on historical experience and various
other factors that are believed to be reasonable under the
circumstances, the results of which form the basis of making the
judgements. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on
an ongoing basis. Revisions to accounting estimates are
recognised in the period in which the estimate is revised if
the revision affects only that period or in the period of the
revision and future periods if the revision affects both current
and future periods.
Judgements made by the directors in the application of NZ IFRS
that have significant effects on the financial statements and
estimates with a significant risk of material adjustments in the
next year include:
• Estimating the percentage of completion for systems
contracts (note A1)
• Provisions for losses relating to contract assets (note B3)
• Goodwill impairment (note B5)
• Capitalisation and useful lives of development assets
(note B8).
Statement of Compliance
The consolidated financial statements presented are those
of Scott Technology Limited (‘Company’) and its subsidiaries
(‘Group’).
The company is a profit-oriented entity, registered in
New Zealand under the Companies Act 1993. The company
is an FMC reporting entity for the purposes of the Financial
Markets Conduct Act 2013 and its annual financial
statements comply with these Acts.
The Group’s principal activities are the design, manufacture,
sales and servicing of automated and robotic production
lines and processes for a wide variety of industries in New
Zealand and abroad.
The financial statements have been prepared in accordance
with New Zealand Generally Accepted Accounting Practice
(‘NZ GAAP’) and, for the purposes of complying with GAAP,
it is a for-profit entity. They comply with New Zealand
equivalents to IFRS Accounting Standards (‘NZ IFRS’) and
other applicable financial reporting standards as appropriate
for profit-oriented entities. The financial statements also
comply with IFRS Accounting Standards (‘IFRS’).
The financial statements were authorised for issue by the
Board of Directors on 21 October 2025.
Basis of Preparation
The financial statements have been prepared on the basis of
historical cost except for the revaluation of certain financial
instruments.
Cost is based on the fair value of the consideration given in
exchange for assets.
Accounting policies are selected and applied in a manner that
ensures that the resulting financial information satisfies the
concepts of relevance and reliability, thereby ensuring that
the substance of the underlying transactions or other events
is reported.
NOTES TO AND FORMING PART
OF THE CONSOLIDATED FINANCIAL
S TAT E M E N T S
SUMMARY OF ACCOUNTING POLICIES
As at 31 August 2025
Scott Technology Limited
Page 52

Notes to and forming part of the consolidated financial statements continued
For the year ended 31 August 2025
SUMMARY OF ACCOUNTING POLICIES
Material Accounting Policies
The principal accounting policies applied in the preparation
of the financial report are set out within the particular note
to which they relate. These policies have been consistently
applied unless otherwise stated.
Consolidation of Subsidiaries
The consolidated financial statements incorporate the financial
statements of the company and entities controlled by the
company and its subsidiaries. Control is achieved when the
company:
• Has power over the investee;
• Is exposed, or has rights, to variable returns from its
involvement with the investee; and
• Has the ability to use its power to affect its returns.
The Group financial statements are prepared by combining the
financial statements of all the entities that comprise the Group,
being the company and its subsidiaries as defined by NZ IFRS
10 Consolidated Financial Statements. Consistent accounting
policies are employed in the preparation and presentation of
the Group financial statements.
All intra-group transactions, balances, income and expenses are
eliminated on consolidation.
On acquisition, the assets, liabilities and contingent liabilities
of a subsidiary are measured at their fair values at the date of
acquisition. Any excess of the cost of acquisition over the fair
values of the identifiable net assets acquired is recognised as
goodwill. Any deficiency of the cost of acquisition below the
fair values of the identifiable net assets acquired (i.e. discount
on acquisition) is credited to profit and loss in the period of
acquisition.
The results of subsidiaries acquired or disposed of
during the year, are included in the consolidated statement of
comprehensive income from the effective date of acquisition,
or up to the effective date of disposal, as appropriate.
Standards and Interpretations Effective in the
Current Period
The Group has adopted all mandatory new and amended
standards and interpretations. None had a material impact
on these financial statements.
Standards and Interpretations
in Issue not yet Adopted
At the date of authorisation of the consolidated financial
statements certain new standards and interpretations to
existing standards have been published but are not yet effective,
and have not been adopted early by the Group.
Of these, the following are assessed as relevant to the Group:
NZ IFRS 18 (Presentation and Disclosure in Financial
Statements) — introduces new requirements, including a
change in the structure of the profit and loss, management
defined performance measures being included in a note to the
financial statements and enhanced aggregation/disaggregation
clarification. The new standard also amends the classification in
the statement of cash flows.
Annual improvements to NZ IFRS Accounting Standards 2024.
The amendments will have no material impact on the Group,
other than NZ IFRS 18, which has not yet been assessed but may
affect the face of the statements at a future date.
Goods and Services Tax and
Value-added Tax ('GST')
All items in the consolidated balance sheet are stated exclusive
of GST, with the exception of receivables and payables,
which include GST. All items in the consolidated statement of
comprehensive income are stated exclusive of GST.
Cash flows are included in the consolidated statement of cash
flows on a net basis. The GST component of cash flows arising
from investing and financing activities that is recoverable from,
or payable to, the taxation authority is classified as operating
cash flows.
Summary of accounting policies continued
Annual Report 2025
Page 53

Notes to and forming part of the consolidated financial statements continued
For the year ended 31 August 2025
Foreign Currencies
The individual financial statements of each Group entity
are presented in the currency of the primary economic
environment in which the entity operates, which is its
functional currency. For the purpose of the consolidated
financial statements, the results and position of each Group
entity are expressed in New Zealand dollars, which is the
functional currency of the company and the presentation
currency for the consolidated financial statements.
In preparing the financial statements of each Group entity,
transactions in currencies other than the entity's functional
currency are recognised at the rates of exchange prevailing
at the dates of the transactions. At the end of each reporting
period, monetary items denominated in foreign currencies are
retranslated at the rates prevailing at that date.
For the purposes of presenting these consolidated financial
statements, the assets and liabilities of the Group's foreign
operations are translated into New Zealand dollars using
exchange rates prevailing at the end of each reporting
period. Income and expense items are translated at the
average exchange rates for the period, unless exchange rates
fluctuate significantly during that period, in which case the
exchange rates at the dates of the transactions are used.
Exchange differences arising, if any, are recognised in other
comprehensive income and accumulated in equity and
attributed to non-controlling interests as appropriate.
Non-GAAP financial information
The Group uses earnings / (loss) before interest, tax,
depreciation and amortisation, and non-recurring costs
(Operating EBITDA), earnings / (loss) before interest, tax,
depreciation and amortisation (EBITDA), and Net Tangible
Assets per ordinary shares, to describe financial performance
as it considers these line items provide a better measure of
underlying business performance.
These non-GAAP measures do not have a standard meaning
prescribed by GAAP and therefore may not be comparable to
similarly titled amounts reported by other entities.
Summary of accounting policies continued
Scott Technology Limited
Page 54

Notes to and forming part of the consolidated financial statements continued
For the year ended 31 August 2025
Policy
Revenue on fixed-price contracts is recognised over
the term of the contract period using the input
method based on percentage of completion. At
balance date an assessment is made of the percentage
of completion based on the costs associated with the
work done to date relative to the total forecast cost to
complete. Included in revenue is the value attributed
to work completed, which includes direct costs,
overhead and profit, where this is allowable under the
contract. Scope variations that may potentially lead to
additional revenue are only recognised when certain.
The customer is obligated to pay a fixed amount
when a contractual milestone is met. At this time, a
receivable is recognised as the invoice is raised. If the
revenue recognised by the Group exceeds the amounts
invoiced, a contract asset is recognised. If the amounts
invoiced exceed the revenue recognised, a contract
liability is recognised. The transaction price is the fixed
price per the contract.
The incremental costs to obtain a contract where the
contract period is less than 12 months is expensed to the
profit and loss under the practical expedient provisions of
NZ IFRS 15.
The Group’s obligation to repair or replace faulty products
under the standard warranty terms is recognised as a
provision (see note C7).
SECTION A: FINANCIAL PERFORMANCE
A1. REVENUE FROM CONTRACTS WITH CUSTOMERS
AND OPERATING EXPENSES
(a) Accounting policies and significant judgements
The Group derives revenue from the following sources:
• Sales
• Services.
Revenue recognition – sales
The Group designs, manufactures and sells customised automation and robotic systems for use in a wide range of industries
under fixed-price contracts. The contracts are often for periods in excess of twelve months although shorter periods can also
apply. These contracts are specific to each customer and the Group is restricted by these contracts in its ability to redirect
the products to another customer. The Group, through these contracts, has an enforceable right to payment when agreed
milestones are met for performance completed up to that date.
Judgement
The estimation of percentage of completion relies
on the directors estimating costs to complete
systems contracts. If the costs incurred to complete
the systems contracts differ from the estimates
completed by management, the directors could be over
or under estimating the percentage of completion on
the project, and consequently revenue and profit to
date may also be over or under estimated.


The Group manufactures and sells a range of standalone automation and robotic equipment for use in a wide range of
industries, including:
• Rock crushers, pulverisers, ringmills and reference materials under the 'Rocklabs' brand for use by mining companies
and laboratories
• Bandsaw safety equipment under the 'BladeStop' brand, primarily for use by protein processors.

Annual Report 2025
Page 55

Notes to and forming part of the consolidated financial statements continued
For the year ended 31 August 2025
Policy
Revenue is recognised when products are ready for
pickup, shipped to or received by the customer, or
installed at the customer’s premises, depending on
the terms of the contract.
A receivable is recognised when either a deposit is due
on receipt of a customer’s order or when the products
are shipped to the customer, as this is the point in
Policy
Revenue under service contracts is recognised at
a point in time when the service is delivered or
performed, depending on the terms of the contract.

time that the consideration is unconditional because
only the passage of time is required before the payment
is due.
The Group’s obligation to repair or replace faulty
products under the standard warranty terms is
recognised as a provision (see note C7).

Revenue recognition – services
The Group earns revenue from after sales service activities associated with the equipment manufactured and sold by the
Group, including spare parts, repairs, routine or scheduled maintenance, upgrades, remote monitoring and the operation of
a 24/7 helpline. Most of these activities are on an ad hoc, as required basis, while some of these activities are covered by an
agreement for services to be provided over a specified period of time.

The Group’s obligation to repair or replace faulty
products under the standard warranty terms is
recognised as a provision (see note C7).

Disaggregation of revenue from contracts with customers
The Group derives revenue from the transfer of goods and services over time and at a point in time and reports these by
industry in the following major manufacturing segments and revenue streams. This is consistent with the revenue information
disclosed for each reportable segment under NZ IFRS 8 Operating Segments, (see note A3).
Section A: financial performance continued
Scott Technology Limited
Page 56

Notes to and forming part of the consolidated financial statements continued
For the year ended 31 August 2025
Section A: financial performance continued
Year Ended 31 August 2025
ProteinMinerals
Materials
Handling
Rest of
Business Total
$’000s$’000s $’000s $’000s
$’000s
New Zealand
manufacturing
Sales3,432 - - 99 3,531
Service4,645 - 891881 6,417
Revenue from external customers 8,077 - 891 980 9,948
Timing of revenue recognition
- Over time3,187 - - 99 3,286
- At a point in time4,890 - 891881 6,662
8,077 - 891 980 9,948
Rocklabs
manufacturing
Sales - 35,415 - - 35,415
Service - 12,472 - - 12,472
Revenue from external customers - 47,887 - - 47,887
Timing of revenue recognition
- Over time - 5,141 - - 5,141
- At a point in time - 42,746 - - 42,746
- 47,887 - - 47,887
Australia
manufacturing
Sales14,507 - - 296 14,803
Service11,101 - 821 - 11,922
Revenue from external customers 25,608 - 821 296 26,725
Timing of revenue recognition
- Over time11,585 - - 296 11,881
- At a point in time14,023 - 821 - 14,844
25,608 - 821 296 26,725
Americas
manufacturing
Sales11,7992,91829,8807,873 52,470
Service11,8931438,239 - 20,275
Revenue from external customers 23,692 3,061 38,119 7,873 72,745
Timing of revenue recognition
- Over time4,3562,91829,8807,873 45,027
- At a point in time19,3361438,239 - 27,718
23,6923,06138,1197,873 72,745
Europe
manufacturing
Sales8,482 - 58,8471,479 68,808
Service3,566 - 24,4531,047 29,066
Revenue from external customers 12,048 - 83,300 2,526 97,874
Timing of revenue recognition
- Over time - - 58,8471,479 60,326
- At a point in time12,048 - 24,4531,047 37,548
12,048 - 83,3002,526 97,874
China
manufacturing
Sales - - - 20,094 20,094
Service - - - - -
Revenue from external customers - - - 20,094 20,094
Timing of revenue recognition
- Over time - - - 20,094 20,094
- At a point in time - - - - -
- - - 20,094 20,094
Total
manufacturing
Sales38,22038,33388,72729,841195,121
Service31,20512,61534,4041,92880,152
Revenue from external customers 69,425 50,948 123,131 31,769 275,273
Timing of revenue recognition
- Over time19,1288,05988,72729,841145,755
- At a point in time50,29742,88934,4041,928129,518
69,42550,948123,13131,769 275,273
Annual Report 2025
Page 57

Notes to and forming part of the consolidated financial statements continued
For the year ended 31 August 2025
Year Ended 31 August 2024
ProteinMinerals
Materials
Handling
Rest of
Business Total
$’000s$’000s $’000s $’000s
$’000s
New Zealand
manufacturing
Sales5,712 - 2,473 1 8,186
Service6,4288 836 2,805 10,077
Revenue from external customers 12,140 8 3,309 2,806 18,263
Timing of revenue recognition
- Over time 5,166 - 2,473 1 7,640
- At a point in time 6,974 8 836 2,805 10,623
12,140 8 3,309 2,806 18,263
Rocklabs
manufacturing
Sales - 30,833 - - 30,833
Service - 12,544 - - 12,544
Revenue from external customers - 43,377 - - 43,377
Timing of revenue recognition
- Over time - 8,409 - - 8,409
- At a point in time - 34,968 - - 34,968
- 43,377 - - 43,377
Australia
manufacturing
Sales7,395 - - 1,652 9,047
Service9,493 - - 2,306 11,799
Revenue from external customers 16,888 - - 3,958 20,846
Timing of revenue recognition
- Over time 2,872 - - 1,652 4,524
- At a point in time 14,016 - - 2,306 16,322
16,888 - - 3,958 20,846
Americas
manufacturing
Sales10,391 5,221 42,367 16,537 74,516
Service10,656 235 7,710 4 18,605
Revenue from external customers 21,047 5,456 50,077 16,541 93,121
Timing of revenue recognition
- Over time4,482 5,221 42,367 16,537 68,607
- At a point in time16,565 235 7,710 4 24,514
21,047 5,456 50,077 16,541 93,121
Europe
manufacturing
Sales6,094 - 54,583 3,193 63,870
Service3,727 - 19,375 1,258 24,360
Revenue from external customers 9,821 - 73,958 4,451 88,230
Timing of revenue recognition
- Over time - - 54,583 3,193 57,776
- At a point in time 9,821 - 19,375 1,258 30,454
9,821 - 73,958 4,451 88,230
China
manufacturing
Sales - - - 12,288 12,288
Service - - - - -
Revenue from external customers - - - 12,288 12,288
Timing of revenue recognition
- Over time - - - 12,288 12,288
- At a point in time - - - - -
- - - 12,288 12,288
Total
manufacturing
Sales29,592 36,054 99,423 33,671 198,740
Service30,304 12,787 27,921 6,373 77,385
Revenue from external customers 59,896 48,841 127,344 40,044 276,125
Timing of revenue recognition
- Over time12,520 13,630 99,423 33,671 159,244
- At a point in time47,376 35,211 27,921 6,373 116,881
59,896 48,841 127,344 40,044 276,125
Section A: financial performance continued
Scott Technology Limited
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