Australia City Cable Ltd is a vertically integrated Australian telecommunications provider delivering high-speed broadband, wholesale network access and managed connectivity solutions to retail, business and reseller customers. Operating through City Cable Australia Pty Ltd, the Company combines proprietary fibre infrastructure, exclusive building access arrangements and wholesale NBN connectivity. Its largest division, B2B Solutions, provides tailored internet, private networking, cybersecurity, cloud backup, CCTV integration and managed IT services to SMEs across property, hospitality, retail and student accommodation. City Cable serves more than 1,000 retail and 500 business customers. FY26 management accounts reported revenue of $60.9 million and normalised EBITDA of $4.28 million.

The Company is in the late stages of preparing for its listing on the National Stock Exchange of Australia (NSX). This Offer provides sophisticated and wholesale investors with access to existing shares in City Cable ahead of that listing.

• Nature of offer: Sale of existing fully paid ordinary shares by an existing shareholder. No new shares are being issued and the Company will not receive any proceeds from the Offer.
• Offer price: $0.50 per fully paid ordinary share
• Minimum investment: $2,000 (4,000 shares)
• Reference value: $0.65 per share, being the indicative valuation. The shares may trade above or below this once quoted.
• Discount: $0.15 per share, representing a 23.1% discount to the $0.65 reference value
• Implied market capitalisation: Approximately $50.6 million at the Offer price and approximately $65.8 million at the reference value, based on 101,279,180 shares on issue
• Capital structure: 101,279,180 ordinary shares; no options, performance rights or other convertible securities on issue
• Security: Fully paid ordinary shares, ranking equally with all existing ordinary shares
• Listing: The Company is in the late stages of preparing for its listing on the NSX. Admission and its timing remain subject to NSX approval.
• Eligibility: The Offer is available to sophisticated and wholesale investors under section 708 of the Corporations Act only.

Australia City Cable Ltd is a vertically integrated Australian telecommunications provider delivering broadband, wholesale network access and managed connectivity solutions to retail, business and reseller customers nationally. Through its wholly owned operating subsidiary, City Cable Australia Pty Ltd, the Company combines proprietary fibre infrastructure in selected developments, exclusive building access arrangements and wholesale network partnerships, including access to the National Broadband Network.

Established operationally in 2015, City Cable has evolved from a residential internet provider into a diversified platform servicing retail, wholesale and business-to-business customers. The Company is in the late stages of preparing for its listing on the National Stock Exchange of Australia, which will provide a quoted market for its shares.

• FY25 audited revenue: $22.47 million
• FY25 audited EBITDA: $2.63 million
• FY25 net profit before tax: $2.39 million
• FY26 revenue: $60.90 million, based on unaudited management accounts
• Revenue growth: Approximately 171% growth on FY25
• FY26 statutory EBITDA: $3.65 million
• FY26 normalised EBITDA: $4.28 million, after adjustments for specified non-recurring litigation and listing-related costs
• Normalised EBITDA growth: Approximately 63% above FY25 audited EBITDA
• FY26 gross profit: $11.94 million
• Cash and bank: $3.03 million as at 30 June 2026
• Net assets: $5.95 million as at 30 June 2026
• Operating cash flow: The Company reported positive operating cash generation and states it is adequately funded for current operations

City Cable operates across three complementary service lines: B2B Solutions, Retail Internet and Wholesale Services. B2B Solutions is the Company’s largest division and provides tailored connectivity and managed IT packages for small and medium-sized enterprises in sectors including property, hospitality, retail and student accommodation. These packages can combine high-speed internet, private networking, cloud backup, cybersecurity, CCTV integration, wide-area networking and real-time monitoring. The Retail Internet division supplies broadband directly to residential and commercial end-users via City Cable’s proprietary fibre networks and the NBN, with revenue principally generated through recurring monthly subscriptions.

Wholesale Services enables regional ISPs, developers, owners corporations, body corporates and utility partners to resell connectivity under their own brands, while City Cable delivers underlying network access, billing functionality, technical support and network management. This multi-channel model supports recurring revenue, broadens customer acquisition and enables the Company to progressively shift traffic onto owned infrastructure and wholesale interconnection points to improve operating margins.

City Cable operates in Australia’s large and established telecommunications market, focused on fixed broadband, business connectivity, managed services and wholesale network access. The Company identifies an estimated Australian telecommunications market value of approximately $63 billion in 2024, with forecast growth of around 3.7% per annum over the following decade. Broadband demand continues to be supported by cloud adoption, streaming, remote and hybrid work, connected devices, cybersecurity requirements and the increasing use of data-intensive digital and AI-enabled applications.

The NBN remains the core wholesale fixed-line platform for Australia’s mass-market broadband ecosystem, while private fibre networks and specialised business connectivity services provide opportunities where customers require greater performance, control or tailored support. The market is highly competitive, with major operators including Telstra, Optus and TPG, alongside challenger providers. City Cable targets under-served SME, developer, apartment-building and reseller segments, seeking to differentiate through flexible packages, localised service, exclusive building access and vertically integrated infrastructure.