Annual Report 2025-26 by Recreational Aviation Australia

ANNUAL REPORT 2025-26

CONTENTS Chair Report .....................................................3 CEO Report ........................................................5 Flight Operations ............................................9 Airworthiness and Maintenance .............. 12 Safety ................................................................ 14 Fly’n For Fun ................................................... 15 Pilot Certificates ........................................... 16 Statistics ......................................................... 20 Financial Statements ...................................24

Chair Report By Jim Tatlock, Chairman assurance. RAAus continues to work through recommendations arising from previous coronial and accident investigations while implementing improvements to examination systems, training oversight and operational controls. While these matters often receive little public visibility, they represent an important investment in strengthening the integrity and safety of the organisation for future generations of pilots.

Since being appointed Chair in June this year, my primary focus has been helping guide RAAus through a period of significant transition while ensuring we maintain our commitment to safety, member service and advocacy for recreational aviation. The Board has worked closely with management to complete a number of important leadership and organisational changes. These have included the appointment of a new Chief Executive Officer, Michael Linke, onboarding of key personnel, and adjustments to organisational structures that strengthen our ability to meet both member expectations and regulatory obligations.

The Board has also challenged management to improve the member experience. Many members have told us that service delays, complex processes and administrative friction create unnecessary frustration. In response, programs are underway to simplify workflows, increase automation, introduce clearer service standards and reduce processing bottlenecks. The objective is simple: allow staff to spend less time on repetitive administration and more time supporting members. Technology modernisation remains a major priority. Development of new digital platforms, including member management and online learning systems, continues with the goal of improving examination integrity, streamlining services and providing a better overall experience for members and instructors. While large technology projects are never without challenges, the Board believes these investments are necessary to support the longterm sustainability of RAAus.

Throughout this period, the Board has remained focused on ensuring RAAus continues to operate as a strong and capable self-administering aviation organisation under CASA Part 149. Considerable work has occurred behind the scenes with CASA regarding regulatory obligations, future funding arrangements and reporting requirements. We have sought to ensure that member resources are directed towards meaningful safety and aviation outcomes rather than unnecessary administrative burden.

The Board is equally focused on the future opportunities available to recreational aviation. Discussions have commenced regarding emerging international developments such as MOSAIC and evolving ASTM standards, both of which have the potential to significantly expand future aircraft capability and pilot opportunities within Australia. While these developments remain dependent on broader regulatory settings, RAAus is determined to be an active participant in those conversations and to advocate strongly for outcomes that benefit our members.

One area receiving significant attention has been safety and organisational

Governance has also been an area of significant attention. The Board has PG.3

commenced work on strengthening risk management, director development, reporting standards and organisational oversight. Good governance is not about bureaucracy, it is about ensuring that the organisation remains financially sustainable, operationally effective and trusted by both members and regulators. Financially, the organisation continues to face challenges that are familiar throughout the aviation sector. However, I am pleased to report that the FY2025-26 audit resulted in an unqualified opinion and the organisation maintains a sound asset position. The Board and management remain focused on improving long-term financial sustainability while continuing to invest in services, safety and growth opportunities.

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Perhaps the strongest message I can share is that your Board is committed to moving RAAus from a period of transition to a period of execution. We are focused on supporting management, strengthening our safety and governance systems, improving the member experience and ensuring recreational aviation remains accessible, relevant and vibrant for current and future members. On behalf of the Board, thank you for your continued support of RAAus and for the passion you bring to recreational aviation across Australia.

Jim Tatlock Chairman

CEO Report By Maxine Milera, Chief Executive Officer Our annual meeting with CASA in April provided an important opportunity to discuss a range of matters affecting RAAus and our members, including safety trends, our funding arrangements, future regulatory developments and operational opportunities. Work also continued on the development of controlled airspace privileges for RAAus pilots. This remains an important initiative that has the potential to provide appropriately trained and endorsed RAAus pilots with greater access and flexibility within Australia’s aviation system. Our relationships with other aviation organisations have also continued to strengthen. Working collaboratively gives the recreational and general aviation community a stronger collective voice when dealing with regulators and government.

The 2025/26 financial year has been another significant year for Recreational Aviation Australia, with continued change, challenges and opportunities across our organisation and the broader aviation industry.

Members, Operations and Technology

Throughout the year, our focus has remained on supporting our members, maintaining a strong safety culture, strengthening our relationship with regulators and industry partners, and ensuring RAAus continues to evolve to meet the future needs of recreational aviation in Australia.

During the year we continued reviewing our systems, processes and services to make it easier for members, pilots, aircraft owners, maintainers and flight training schools to interact with RAAus.

Advocacy and Regulatory Engagement A considerable amount of work continued throughout the year with CASA and other aviation stakeholders on matters that will shape the future of recreational aviation. RAAus continued to actively engage with CASA on the development and implementation of MOSAIC and the opportunities this may create for our members and aircraft owners into the future. While the implementation pathway remains a longer-term project, we have continued advocating strongly for a regulatory framework that provides greater flexibility and opportunity for recreational aviation while maintaining appropriate safety outcomes.

Our members remain at the centre of everything RAAus does.

A significant amount of work was undertaken on our new data and information management system. This project represents an important step forward for the organisation and will ultimately improve the way we manage member, aircraft and operational information. We also made substantial progress in digitising our historical member and aircraft records. Moving away from paper-based records has been a major undertaking and provides RAAus with a more secure and efficient way of managing information into the future. Our flight operations, airworthiness and maintenance, safety and administration teams continued to manage a large volume of everyday member enquiries and regulatory activity while also contributing to broader organisational projects. PG.5

I would like to acknowledge our staff for continuing to support our members through what has at times been a period of significant organisational change.

Safety Safety continues to be fundamental to RAAus and our purpose. Throughout 2025/26 we continued working to improve the way safety information is collected, reviewed and communicated. Our ongoing engagement with CASA, the ATSB, flight training schools, instructors, maintainers and members provides valuable information that assists us in identifying emerging trends and areas where additional education or support may be required. Safety cannot simply be the responsibility of one department. It must remain part of every decision we make as an organisation and something that every member of the RAAus community contributes to.

Fly’n For Fun and Our Aviation Community One of the highlights of the year was the return of Fly’n For Fun at Parkes in March 2026. Around 90 aircraft attended the event, bringing together members, pilots, aircraft owners,

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exhibitors and aviation enthusiasts from across Australia. Events such as Fly’n For Fun remind us of what makes the RAAus community special. Recreational aviation is ultimately about people who share a passion for flying, learning and spending time with others who have the same enthusiasm for aviation. A particularly memorable part of the event was the BushCat aircraft build involving 25 women. It was wonderful to see women from different backgrounds and levels of aviation experience working together and demonstrating the opportunities available within our industry. Our scholarship programs have also continued to provide opportunities for people to begin or further their aviation journey. Seeing scholarship recipients achieve milestones such as their first solo flight reinforces the importance of continuing to invest in the next generation of recreational aviators.

Financial Sustainability and Organisational Change Like many membership organisations, RAAus continues to operate in an environment of increasing costs and financial pressure. Membership numbers, operating expenses and the long-term sustainability of our services

have required careful consideration throughout the year. During 2025/26 we reviewed a number of areas of the organisation and our operating model to ensure RAAus remains financially sustainable while continuing to provide the services our members expect. Some of these decisions have not been easy. Organisational change inevitably affects people, and I recognise the contribution of those who work for RAAus and whose roles have changed during this period. The work undertaken during the year has provided an opportunity to reconsider how RAAus operates, where our resources are best directed and how we can continue delivering value to members into the future.

Governance Good governance remains critical to the longterm success of RAAus. During the year, the Board and Executive continued reviewing the organisation’s governance arrangements, financial oversight and delegations. I would like to thank the Board and our Company Secretaries for their work and support throughout the year and for the considerable time they contribute to RAAus.

A Personal Reflection This Annual Report is particularly significant for me as it is my final report as CEO of Recreational Aviation Australia. After considerable reflection, I made the decision during 2026 to step away from the CEO position. Leading RAAus has been both a privilege and a significant responsibility. I have been fortunate to work with an organisation that I have been part of for almost 20 years, and over that time I have seen enormous change in RAAus and d the regulatory environment in which we operate.

“I am proud of what we have achieved and particularly proud of the people within RAAus who continue to work incredibly hard for our members.” Being CEO has also taught me a great deal personally and professionally. There have been challenging periods, difficult decisions and times when the organisation has needed to adapt quickly. There have equally been many rewarding moments, seeing members achieve their aviation goals, watching new pilots complete their first solo, attending events around the country and working alongside people who genuinely care about the future of recreational aviation. While I have stepped away from the CEO role, I have not stepped away from RAAus. I am pleased to be continuing with the organisation in a different role, where I will be able to use my experience and organisational knowledge while focusing on other important areas of the business.

Welcoming Michael Linke As I conclude my time as CEO, I would also like to warmly welcome Michael Linke back to RAAus as our new Chief Executive Officer. Michael is well known to RAAus and the broader recreational aviation community, having previously served as CEO of the organisation. He brings with him a strong understanding of RAAus, our members, the aviation environment and the opportunities and challenges that lie ahead. I am very pleased to see Michael return to lead the organisation into its next chapter. Leadership transitions are an important part of any organisation, and I look forward to supporting Michael, the Board and our team as RAAus continues to evolve. I wish Michael every success in the role PG.7

and know that his experience, knowledge and passion for recreational aviation will be valuable as he leads RAAus forward.

experiences and lessons that I will carry with me as I move into the next stage of my career with RAAus.

Thank You

After almost two decades with RAAus, my belief in the importance of this organisation and aviation remains as strong as ever.

Finally, I would like to sincerely thank our members. RAAus exists because of the thousands of people around Australia who share a love of l aviation. Whether you are a student pilot completing your first few hours, an experienced pilot, aircraft owner, maintainer, instructor, flight training school operator, volunteer or someone who simply loves being part of the aviation community, you are what makes this organisation what it is. Thank you also to our staff, Board members, volunteers, industry partners, flight training schools, maintainers and everyone who has supported RAAus throughout the year. I would also like to thank everyone who has supported me personally during my time as CEO. The role has provided opportunities,

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The organisation will continue to change and evolve, and with Michael now leading RAAus into its next chapter, I am looking forward to seeing where that journey takes us. Our fundamental purpose remains the same, to make recreational aviation accessible, safe and enjoyable and to ensure Australians continue to have the opportunity to experience the freedom and joy of flight. I look forward to continuing to be part of that journey.

Maxine Milera Chief Executive Officer

Flight Operations By Marty Peters, Head of Flight Operations Pilot Examiner framework. Human Factors and decision making were also central to the review of training and assessment requirements. Preparation extended beyond the manual itself to the supporting syllabus, guidance, forms and internal processes needed for a coordinated transition. Progress towards FOM v9.0 remained a major strategic priority, with implementation dependent on completion of the regulatory review and the necessary supporting arrangements.

Group G implementation and oversight

During 2025–2026, Flight Operations continued to strengthen the framework that supports safe and accessible recreational flying. Our work combined the day-to-day support and oversight of flight training schools with substantial preparation for future manual, training and airspace changes. Building on the work of previous years, we focused on clearer requirements, more consistent training and assessment, and practical support for members and approval holders. Collaboration with our Safety and Technical teams, CASA and industry remained essential to this work.

Flight Operations Manual modernisation A substantial part of the year was devoted to the development and review of FOM v9.0. This work built on previous manual development and focused on simplifying requirements, improving regulatory alignment and making operational responsibilities easier to understand and apply. The review covered instructor pathways and approvals, Chief Flying Instructor and Deputy Chief Flying Instructor governance, flight reviews, endorsement structures, medical requirements, Group G operations and the

Following the introduction of Group G arrangements in the previous reporting year, our focus shifted to supporting their practical application across the training network. Work continued on Recreational Pilot Certificate pathways, conversion processes, instructor and CFI approvals, and the associated training and assessment requirements. Engagement with schools, instructors and industry helped identify questions arising from implementation and support more consistent application of the requirements. The emphasis remained on recognising relevant experience while ensuring pilots and instructors demonstrated the competence needed for the aircraft they operate.

Supporting our flight training schools Flight Training Schools remain central to the member experience and the future of recreational aviation. Throughout the year, Flight Operations continued to support schools across Australia while monitoring operational standards and compliance. This included reviewing CFI and DCFI appointments, instructor supervision, training records and school governance. Working with the Safety team, we contributed to audit follow up and consideration of school safety management arrangements. Leadership transitions and satellite operations required particular attention to ensure that oversight

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and supervision remained effective. Our approach combined practical guidance with clear expectations. Where concerns were identified, the focus was on establishing the facts, agreeing corrective action and confirming that schools could continue to deliver training to the required standard.

Safety assurance and occurrence management Accidents, incidents, hazards and complaints continued to inform our operational priorities. Flight Operations worked with the Safety team to review occurrences, address competency and compliance concerns, and apply operational controls or remedial requirements where appropriate. Key risks included instructor competency and supervision, flight review noncompliance, the quality and retention of training records, medical declarations and endorsement administration. Low-level operations, aircraft registration and airworthiness awareness, and pilot decision making also remained areas of focus. These reviews reinforced the importance of sound training, reliable records and clear

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accountability. They also helped direct our work on guidance, standardisation and safety education towards the issues being encountered by members and schools.

Regulatory engagement and controlled airspace We maintained engagement with the CASA Sport Aviation Team, CASA technical working groups, Airservices Australia, the ATSB and other aviation stakeholders. Discussions covered Part 103 development, medical standards and the Class 5 framework, instructor requirements and future controlled airspace access. Preparing for access to Class C and Class D airspace remained an important priority. Work progressed on proposed endorsement requirements and supporting training and assessment material, including practical lesson guidance. The aim was to prepare a consistent training framework for use when the necessary approvals and operational arrangements are in place. Our involvement in Western Sydney International airspace planning, Ballina airspace changes and Airservices consultations helped ensure that the needs of recreational

aviation were represented. We also reviewed the operational requirements affecting schools already operating under exemptions, recognising the importance of maintaining access while meeting the conditions of those arrangements.

Instructor and examiner development Assessment, renewal and upgrade activities continued for instructors, Senior Instructors, Chief Flying Instructors and Pilot Examiners. These activities support the quality of training and assessment throughout the RAAus network. Alongside individual approvals, we reviewed instructor training pathways, supervision models and examiner guidance. The broader objective was to improve consistency in how competency is taught, assessed and recorded, while considering practical ways to support training access in regional and remote communities.

Medical compliance and operational systems Medical compliance work included a review of MED001, MED002 and MED003, together with the associated declaration processes. The focus was on helping members understand their responsibilities, clarifying GP certification requirements and managing medical risk. Consideration of CASA medical developments also informed the proposed manual changes. Operational forms were reviewed in parallel, including flight review and endorsement forms, instructor applications and training records. Clearer and more consistent documentation supports members and approval holders, reduces administrative ambiguity and provides better evidence for operational oversight.

operations and emergency preparedness. Work on examination integrity and training records also progressed during the year. Review of examination supervision, secure handling of assessment material and Knowledge Deficiency Report processes supported more consistent assessment practices. Development towards an RAAus online examination system formed part of the longer-term effort to improve examination security and administration.

Looking ahead The year strengthened the foundations for more consistent training oversight, further Group G integration and the future introduction of FOM 9.0. It also reinforced the value of our working relationships with CASA, Airservices and the broader aviation community. Our priorities for 2026–2027 are to progress the remaining regulatory and implementation work, support schools and approval holders through change, and continue improving training quality, assessment integrity and operational guidance. Future airspace access and regulatory developments will require careful preparation and clear communication with members. Thank you to our instructors, examiners, school leaders, members and staff for your contribution throughout the year. Your experience and commitment help us improve the way we support safe flying and connect people through aviation.

Marty Peters Head of Flight Operations

Safety education and training integrity Operations Bulletins, Sport Pilot contributions, safety seminars and training material reviews provided opportunities to share practical lessons with members. Topics included weight and balance, Human Factors, stall and spin awareness, flight reviews, cross-country

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Airworthiness & Maintenance By Jared Smith, Head of Airworthiness & Maintenace Fifty-six new aircraft were added to the register. The team also processed 264 transfers of ownership. Each transfer provided an opportunity to review the aircraft’s records and discuss ongoing maintenance expectations with the incoming owner. Lightweight Aeroplanes continued to be registered under the provisions of Section 15 of the Technical Manual. Level 2 Maintainer authorities continued to be issued and renewed. Level 1 Owner Maintainer Authorisations also continued to be issued, allowing owners to perform and certify maintenance on their own aircraft within the scope of the general competency rule. OwnerMaintainer weekend courses continued to be well attended. The Airworthiness and Maintenance team has continued to support members and aircraft owners in maintaining and operating their aircraft safely and in accordance with applicable requirements. The emphasis over the year remained on practical education, clear technical guidance and constructive engagement with members and regulatory partners.

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“These courses focused on helping members understand the applicable rules and undertake practical maintenance activities.” The Certificate II in Aeroskills (MEA20418),

delivered by TAFE NSW, remained available to members seeking to strengthen their formal maintenance skills and knowledge. Participants continued to find the combination of structured theory and practical journal work useful in preparing for Level 2 applications covering Groups A, B and D aircraft. The qualification does not itself confer an authority, but it has been a helpful component for applicants who also satisfy the practical experience, assessment and referee requirements. Regulatory engagement continued, including participation in CASA Technical Working Groups relevant to Part 103. During the year the draft of the first RAAus manual prepared for a CASA instrument of appointment was submitted to enable RAAus to replace Certificates of Airworthiness which streamlines the registration process for Lightweight Aeroplanes. The team also took part in the Recreational Flying Sector Safety Risk Profile workshop held in May 2026. The published profile identified a number of maintenance and airworthiness themes, including the challenges of ageing aircraft, differences in maintenance oversight for owner-maintained aircraft, the value of accurate records and defect tracking, and the

importance of following approved procedures and manufacturer instructions. Corrosion and fatigue monitoring, particularly for aircraft operating in coastal environments, was also noted. These observations have informed the content of technical guidance and the focus of education activities. Looking ahead, the priorities remain the provision of clear and usable technical material, the delivery of practical training that supports competent maintenance, and continued collaboration so that the operational realities of the recreational fleet are represented in regulatory development. Accurate defect reporting through the Occurrence Management System continues to be encouraged as a means of identifying trends and directing education where it is most useful. The team thanks members, maintainers and industry partners for their engagement over the past year.

Jared Smith Head of Airworthiness & Maintenace

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Safety By Andrew Young, Head of Safety provide as much relevant detail as possible, particularly any lessons learned or actions that could reduce the likelihood of a recurrence. Throughout the year, the Safety team continued its program of visiting RAAus flight training schools to conduct audits. While ensuring compliance with operational requirements remains essential, these visits also provide opportunities to engage directly with Chief Flying Instructors (CFIs), discuss operational challenges and identify practical improvements. Our approach is centred on working collaboratively with schools to support safe, effective training environments. We appreciate the cooperation and professionalism demonstrated by the schools and instructors involved. Although I joined RAAus in July 2026, this annual report provides an opportunity to reflect on the important work undertaken by the Safety team throughout the 2025–26 financial year. The team continued to focus on strengthening reporting practices, supporting flight training schools and promoting a positive safety culture across the recreational aviation community. During the reporting period, 288 occurrence reports were submitted through the RAAus website. Each report provides valuable information that helps us better understand the challenges and risks faced by pilots in everyday flying operations. Reviewing these reports is an important and often time-consuming process, with many requiring additional information, clarification and discussions with the pilots involved to establish the circumstances and identify opportunities for improvement. Importantly, a high number of occurrence reports should not automatically be viewed as a negative outcome. A strong reporting culture demonstrates that members recognise the value of sharing their experiences, including situations where things may not have gone to plan. By reporting occurrences openly and honestly, pilots contribute to a collective understanding of risk and help prevent similar incidents. We encourage all members to PG.14

Safety education and promotion remained another key priority throughout the financial year. Information gathered from occurrence reports enables the team to identify emerging trends, recurring issues and areas where additional guidance may be beneficial. RAAus continued publishing safety articles informed by real-world occurrences, providing members with opportunities to learn from the experiences of others. The National Safety Campaign has also evolved into four week-long topics, allowing greater focus on specific safety themes and encouraging ongoing member engagement. Looking ahead, our focus remains on building strong relationships with members, flight training schools and the broader aviation community. By encouraging open reporting, sharing practical safety information and maintaining a collaborative approach to continuous improvement, we can support safer flying for everyone. I look forward to meeting more members and continuing the important work of strengthening recreational aviation safety across Australia.

Andrew Young Head of Safety

Fly’n For Fun By Mark Wilson, Marketing and Communications Manager RAAus’ flagship event, Fly’n For Fun, returned to Parkes, NSW, from 27–29 March, bringing together pilots, members, industry representatives and aviation enthusiasts for a celebration of recreational aviation, community engagement and opportunity. A major highlight was the Women in Aviation BushCat Build, which saw 25 women from diverse backgrounds work together to assemble an aircraft over five days. Supported by experienced mentors, the initiative provided valuable hands-on experience, encouraged collaboration and demonstrated the growing opportunities for women in aviation. The completed aircraft was successfully test flown during the event. Throughout the weekend, attendees enjoyed aircraft displays, industry exhibitions, educational forums and opportunities to connect with fellow aviators. A dedicated youth STEM program and presentations from RAAus Youth Ambassadors helped inspire the

next generation, highlighting pathways into recreational flying and the broader aviation industry. Social activities, including live music, camping, community gatherings and an outdoor movie screening, reinforced the strong sense of connection that defines the RAAus community. The event’s success was made possible through the contributions of volunteers, exhibitors, industry partners and sponsors, including principal sponsor AMDA, alongside the support of Parkes Council, HARS, the RFS and Parkes Aero Club. Building on the success of 2026, planning is underway for Fly’n For Fun 2028, with ambitions to expand industry participation, hands-on activities and community engagement, further strengthening RAAus’ commitment to promoting recreational aviation across Australia.

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Pilot Certificates

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Mcmurtrie

02-07-25

Partridge

26-07-25

Moltoni

23-08-25

M.L. Dykstra

13-09-25

Gullifer

03-07-25

M.A. Vanden Bergh

26-07-25

Townsend-tawfik

23-08-25

Thevenet

14-09-25

Z.A.

Vanderkruk

03-07-25

Hannan

26-07-25

Cowcher

23-08-25

Staib

14-09-25

P.E.

Davies

04-07-25

O'Connor

29-07-25

Pachur

23-08-25

Penny

14-09-25

F.A.

Falco

05-07-25

M.H. Bin Shahiran

29-07-25

Carmody

24-08-25

Huston

14-09-25

W.F. Ryan

05-07-25

B.K. Marquis

30-07-25

T.K.

Walter

24-08-25

Young

17-09-25

Ananthan

05-07-25

31-07-25

M.J. Wagner

24-08-25

Abbott

18-09-25

Foster

06-07-25

A.A. Catt

01-08-25

L.C.

Novotny

25-08-25

Trotter

19-09-25

Wilson

06-07-25

Murphy

01-08-25

L.J.

Havenaar

25-08-25

Alvaro

20-09-25

Stockdale

09-07-25

Curran

02-08-25

Saint

26-08-25

Kapur

20-09-25

Bakker

09-07-25

Morello

02-08-25

M.J. Hobbs

26-08-25

Johns

21-09-25

N.J.

King

09-07-25

Bond

03-08-25

Behbahani

28-08-25

Sliwa

21-09-25

McCoy

10-07-25

P.J.

O'Connor

04-08-25

Z.T.

Pang

28-08-25

Grubacki

22-09-25

G.D.

Whitham

10-07-25

Y.N.

Kyaw Kyaw

04-08-25

E.L.

Mccormick

31-08-25

Salberg

24-09-25

S.H.

Rahamat Tulla

11-07-25

Izzard

05-08-25

O.R. Mills

01-09-25

B.J.

Waters

25-09-25

Kamat

11-07-25

M.P. Jarvis

06-08-25

B.J.

Dawson

02-09-25

Hardingham

25-09-25

Cox

13-07-25

N.F.

Jais

06-08-25

Fimeri

03-09-25

Semmens

26-09-25

J.A.

Woods

13-07-25

Collins

07-08-25

Gilmour

03-09-25

Ewington

26-09-25

J.M. Beqir

13-07-25

J.K.

Bhangu

11-08-25

Baines

03-09-25

Armitage

26-09-25

14-07-25

G.R. Rohrsheim

12-08-25

B.A. Neumann

03-09-25

M.F. Walshe

26-09-25

W.A. Mitchell

14-07-25

Allen

12-08-25

Sims

04-09-25

L.P.

Morris

27-09-25

W.G. Ditcham

15-07-25

K.S.

Leong

12-08-25

M.J. Nolan

04-09-25

Merry

27-09-25

H.J.

Powell

15-07-25

Adyan

13-08-25

B.D.

Morgan

04-09-25

Venkata Narayanaswamy

27-09-25

Hesford

16-07-25

Michael

14-08-25

Yip

05-09-25

U.H.

Tan

27-09-25

Pereira Alves

16-07-25

Purcell

14-08-25

Lee Wen Jie

05-09-25

Nimmo

28-09-25

C.R. Bullock

17-07-25

X.R. Cheang

15-08-25

Guo Mingcong

05-09-25

Lock

28-09-25

A.V.

Barker

17-07-25

S.P.

Mudd

16-08-25

H.L.

Prior

06-09-25

Hawkins

29-09-25

Mcclatchy

17-07-25

Beyer

16-08-25

Roulston

06-09-25

S.D.

Le Gale

29-09-25

M.T.

Morgan

17-07-25

H.K. Chang

16-08-25

L.J.

Travis

07-09-25

B.H. Apel

29-09-25

Gardam

18-07-25

Schinckel

16-08-25

Wilkinson

07-09-25

Naidu

30-09-25

John

18-07-25

G.J.

Bell

16-08-25

Bourke

08-09-25

S.R. Hislop Lynch

02-10-25

Olejnik

18-07-25

Canning

17-08-25

H.M. Gliddon

09-09-25

S.J.

Ward

02-10-25

G.R. Carn

18-07-25

Chalk

17-08-25

Fox

10-09-25

R.G.

Lebredonchel

06-10-25

Yan

19-07-25

T.R.

Orafferty

19-08-25

Pilling

12-09-25

Laval

06-10-25

Pullman

21-07-25

K.A. Cloherty

19-08-25

X.C.

Monange

13-09-25

P.G.

Holdcroft

07-10-25

J.S.

Haski

23-07-25

A.G.

Howard

19-08-25

Cox

13-09-25

Rorke

07-10-25

Burston

23-07-25

R.J.

Shiells

20-08-25

D.J.

Hatte

13-09-25

C.M. Louwen

08-10-25

J.O.

Miller

24-07-25

Larven

22-08-25

Shirokaj

13-09-25

08-10-25

Howard-Butler

Codina Jimenez

Penola

P.J.

Jenner

08-10-25

Flynn

01-11-25

G.L.

Wilson

25-11-25

N.L.

Townsend

09-12-25

N.J.

Atkinson

09-10-25

Macgregor

01-11-25

Johnson-thomas

25-11-25

Hilder

10-12-25

Francis

10-10-25

Downward

02-11-25

Hurst

25-11-25

Doherty

10-12-25

J.A.

Du Toit

11-10-25

S.M. Kariot

03-11-25

Cathcart

26-11-25

Bourke

10-12-25

Williams

12-10-25

R.J.

Robinson

03-11-25

Everson

26-11-25

D.J.

Oliver

10-12-25

Phillips

12-10-25

Chen

04-11-25

R.M. Singh

27-11-25

C.J.

Ward

11-12-25

Bisaz

13-10-25

E.J.

Dalath Silva

04-11-25

Moczko

27-11-25

Ham

11-12-25

A.J.

Donohue

13-10-25

R.M. Craye

04-11-25

Y.Q.

Tung

27-11-25

W.G. Malic

11-12-25

W.L. Emerson

13-10-25

O'neill

05-11-25

Busuttil

28-11-25

X.C.

Klein

11-12-25

A.K. Stevenson

14-10-25

Ritchie

05-11-25

Reitano

28-11-25

L.C.

Nielsen

12-12-25

M.P. Mitton

14-10-25

Kenyon

06-11-25

Niemeyer

28-11-25

Sibia

12-12-25

O.P.

Cummins

15-10-25

Korevanov

06-11-25

S.J.

Jackson

29-11-25

Doughty

12-12-25

15-10-25

Giffin

06-11-25

O'Callaghan

29-11-25

Murray

12-12-25

Bennett

15-10-25

Velty

07-11-25

R.R. Parkale

29-11-25

D.G.

Nash

12-12-25

H.H. Singh

15-10-25

Burns

07-11-25

Price

29-11-25

Ernszt

13-12-25

I.P.

Macdougall

17-10-25

J.H.

Tiver

07-11-25

Burton

30-11-25

Kanagavijayan

13-12-25

Kennett

18-10-25

Woodfield-jones

08-11-25

Hamood

30-11-25

Watts

14-12-25

P.S.

James

19-10-25

I.A.

Edwards

08-11-25

A.E.

Gatford

30-11-25

Collins

14-12-25

Dickson

19-10-25

G.A. Linsdell

09-11-25

Lopez

30-11-25

Zharkou

14-12-25

S.J.

Sherlock

21-10-25

Locke

09-11-25

Giffin

01-12-25

Kennedy

15-12-25

Bartley

21-10-25

B.P.

Ryl

09-11-25

A.P.

Jacobs

02-12-25

Lyall

15-12-25

Murry

21-10-25

W.G. Thomas

09-11-25

Balderson

02-12-25

A.J.

Salmon

16-12-25

Kosseris

21-10-25

10-11-25

S.J.

Arthur

02-12-25

Bryant

17-12-25

Mccaig

22-10-25

R.A. Bush

12-11-25

P.G.

Coysh

02-12-25

E.D.

Rountree

17-12-25

J.F.

Liddy

22-10-25

G.E.

Barraclough

12-11-25

Carvosso

03-12-25

Mat

18-12-25

Poulton

22-10-25

P.A.

Gibbs

13-11-25

Hutteroth

03-12-25

MacMahon

18-12-25

J.W.

Johnston

23-10-25

L.J.

Phillips

14-11-25

A.D. Heighway

04-12-25

Sutherland

19-12-25

Brahma

24-10-25

Stedman

17-11-25

T.W.

Brown

04-12-25

Pearson

19-12-25

Jenkin

24-10-25

J.A.

Knight

18-11-25

Gray-Knight

04-12-25

A.P.

Neurgaonkar

20-12-25

I.A.

Burston

24-10-25

A.Z. Chng

18-11-25

R.F.

Awadalla

05-12-25

Mason

20-12-25

P.E.

Hughes

24-10-25

White

19-11-25

Hislop

05-12-25

M.J. Palmer

20-12-25

B.L.

Forrester

25-10-25

D.J.

Brown

19-11-25

Lam

05-12-25

R.L.

21-12-25

A.C.

Mees

26-10-25

L.L.

Overton

20-11-25

Lethbridge

06-12-25

V.M. Lee

21-12-25

J.R.

Rowland

27-10-25

Hutcherson

21-11-25

D.J.

Christou

06-12-25

21-12-25

G.A. Heath

28-10-25

Pennock

21-11-25

D.J.

Ballantyne

07-12-25

Z.M. Phillips

21-12-25

R.K. Hix

29-10-25

Coombes

21-11-25

C.L.

Natoli

07-12-25

Abbott

22-12-25

D.P.

Bradney

30-10-25

T.G.

Jak

22-11-25

M.R. Durrant

07-12-25

J.A.

Bayliff

22-12-25

B.R. Mckay

30-10-25

Box

22-11-25

Dennis

08-12-25

C.D.

Isla

23-12-25

M.I.

Bee

30-10-25

L.C.

Ong

22-11-25

L.R.

Bethune

08-12-25

O.J.

Smith

23-12-25

Petrie

30-10-25

Zhang

22-11-25

Blake

08-12-25

C.E.

Toussaint

23-12-25

P.H.

Fuchs

31-10-25

Stott

24-11-25

Jensen

08-12-25

Mutzelburg

23-12-25

E.M. Stavropoulos

31-10-25

M.N. Bin Abdullah (Rosman)

24-11-25

Kirsch

09-12-25

A.S.

Stagnitta

24-12-25

D.J.

31-10-25

C.J.

25-11-25

Hosking

09-12-25

Conway

27-12-25

Kulk

Hannon

Nuske

Harrison

Wong Jia Jun

PG.17

PG.18

Nott

28-12-25

D.N. Sneyd

26-01-26

George

23-02-26

D.J.

Willie

17-03-26

Z.N. Harris

29-12-25

P.G.

Linehan

26-01-26

R.E.

Dykstra

25-02-26

H.J.

Purkis

18-03-26

M.O. Watt

31-12-25

H.M. Hayles

27-01-26

J.N.

Peiris

25-02-26

Platts

18-03-26

Kumar

02-01-26

J.C.

28-01-26

G.R. Nicholson

26-02-26

C.L.

Mueller

19-03-26

Sewram

02-01-26

M.P. Hansen

28-01-26

Voglsinger

01-03-26

J.G.

Karam

20-03-26

Z.L.

Buddle

03-01-26

Farache

29-01-26

M.E. Mendham

01-03-26

Thomas

20-03-26

Najor

04-01-26

T.J.

Garrity

29-01-26

Collier

02-03-26

Madrigal Pritchard

20-03-26

B.W. Brownscombe

04-01-26

Neale

30-01-26

Coleman

04-03-26

Ackerly

21-03-26

Kovanis

04-01-26

Beaumont

30-01-26

L.V.

Tippett

04-03-26

England

21-03-26

Fahey

06-01-26

King

31-01-26

Neil

05-03-26

M.R. Gibson

22-03-26

J.T.

Hatto

06-01-26

R.J.

Greenwood

31-01-26

Buchanan

06-03-26

Green

23-03-26

A.C.

Brancher

06-01-26

Parton

02-02-26

M.R. Beck

06-03-26

Waller

24-03-26

Carr

07-01-26

A.J.

Alt

04-02-26

W.R. Hicks

06-03-26

Pappin

24-03-26

Phillips

07-01-26

G.E.

Mcdonald

04-02-26

Carter

06-03-26

Anderson

24-03-26

Knight

07-01-26

G.L.

Baldisseri

06-02-26

Lamichhane

06-03-26

Watters

25-03-26

Quirk

08-01-26

E.J.

Bartlett

07-02-26

Bourke

06-03-26

K.M. Mustard

27-03-26

Mollenhauer

09-01-26

List

07-02-26

Harris

06-03-26

San Laureano

28-03-26

Howe

09-01-26

Dimech

07-02-26

J.M. Porch

07-03-26

Tanner

30-03-26

L.D.

Riggall

11-01-26

Shumate

07-02-26

Isherwood

08-03-26

Dang

01-04-26

J.J.

Dearing

11-01-26

D.H.

Choi

07-02-26

Sebaly

09-03-26

D.P.

Malyn

02-04-26

A.F.

Thomas

11-01-26

Sadler

08-02-26

Vis

09-03-26

Reen

02-04-26

Ward

13-01-26

J.Z.

Williams

08-02-26

N.A. Perera

09-03-26

Mat

02-04-26

Jones

13-01-26

D.N. Harding

09-02-26

Delekta

10-03-26

Hartley

02-04-26

T.P.

Frost

13-01-26

Royal

10-02-26

Laursen

10-03-26

Pietersen

03-04-26

S.B.

Drew

13-01-26

Thomas

10-02-26

B.O.

Ozturk

11-03-26

B.F.

Ebeyer

04-04-26

Rusmir

13-01-26

Rogers

10-02-26

L.R.

Humphreys

12-03-26

H.J.

Deetlefs

08-04-26

H.W. Connell

13-01-26

Gliddon

12-02-26

T.H.

Keung

12-03-26

Weller

08-04-26

W.A. Preston

14-01-26

Jackson

13-02-26

Gillham

14-03-26

Leon

09-04-26

15-01-26

Ilhan

13-02-26

Unger

14-03-26

J.A.

Zilovic

09-04-26

S.M. Miller

16-01-26

Etherington

14-02-26

Miller

14-03-26

C.J.

Hall

09-04-26

M.L. Jackson

18-01-26

L.P.

Galea

14-02-26

Leary

14-03-26

R.K. Hobi

09-04-26

U.V.

18-01-26

Dengate

16-02-26

Bruner

14-03-26

Acharya

09-04-26

Mohammad

19-01-26

Brown

16-02-26

Blackwell

14-03-26

Ahmed

11-04-26

C.W. Gilbert

19-01-26

T.V.

Lynch

16-02-26

Blackwell

14-03-26

Pagotto

11-04-26

K.R. Godfrey

21-01-26

M.N. Udagepolage Don

17-02-26

B.J.

Moon

14-03-26

K.J.

Shakespeare

11-04-26

A.Z. Schmitz

21-01-26

M.Z. Sawtell

18-02-26

Weinberg

15-03-26

J.B.

Carruthers

12-04-26

J.G.

Towner

21-01-26

D.D.

Murray

19-02-26

Imam

15-03-26

Walsh

12-04-26

M.J. Purdy

22-01-26

M.B. Vallance

20-02-26

Vouros

16-03-26

H.C.

Ziolkowski

13-04-26

Myers

22-01-26

Mclaughlin

20-02-26

R.L.

Fosbender

16-03-26

Smith

14-04-26

T.J.

Atterbury

23-01-26

L.D.

Elliott

21-02-26

Paton

16-03-26

Lloyd

14-04-26

J.D.

Gaskin

23-01-26

Savage

22-02-26

R.J.

Wiseman

17-03-26

R.S.

15-04-26

Plevey

25-01-26

Burgess

23-02-26

A.N. Brucki

17-03-26

L.Y.

Poon

17-04-26

Z.C.

Beutel

25-01-26

Valk

23-02-26

17-03-26

A.B. Lawn

17-04-26

Helmers

Ruiz Gomez

Timm

Willmann

17-04-26

T.J.

Hick

01-05-26

Davis

16-05-26

Miedecke

13-06-26

Olana

17-04-26

P.J.

Holmes

01-05-26

Humphrey

16-05-26

R.T.

Morley

13-06-26

T.J.

Hartwell

18-04-26

P.L.

Rodger

02-05-26

B.S.

Bagri

16-05-26

Spatscheck

14-06-26

Duncan

18-04-26

G.L.

Muirhead

02-05-26

K.G. Ellison

17-05-26

J.F.

Krupka

14-06-26

Treloar

18-04-26

L.C.

Carroll

03-05-26

Irvine

18-05-26

Hinley

15-06-26

B.J.

Cochrane

19-04-26

Kennedy

03-05-26

Osman

20-05-26

Kim

15-06-26

R.A. Lester

19-04-26

J.W.

Crowther

04-05-26

O'Mara

20-05-26

P.J.

Cochrane

16-06-26

S.M. Platt

20-04-26

Rajapakse

04-05-26

Kovesy

21-05-26

N.P.

Webb

18-06-26

Dean

20-04-26

G.A. Tierney

05-05-26

M.A. Ellis

22-05-26

Plath

19-06-26

Fendyk

20-04-26

B.J.

Sutcliffe

06-05-26

Taghavi

24-05-26

Vollmerhause

21-06-26

Sheahan

20-04-26

S.G.

Lasker

06-05-26

Burnett

25-05-26

Doad

21-06-26

J.F.

Kedzia

22-04-26

Lopez Pintos

07-05-26

Kovesy

28-05-26

C.P.

Jonach

21-06-26

Preston

23-04-26

J.P.

Fairweather

08-05-26

Malthouse

29-05-26

Dickson

22-06-26

B.J.

Maher

23-04-26

Suckling

09-05-26

Prasad

29-05-26

Gazley

22-06-26

D'cruz

24-04-26

C.J.

Pregnell

09-05-26

Kuehn

29-05-26

Vijayaragavan

23-06-26

C.I.

Sampson

24-04-26

Savage

10-05-26

Marangoni

30-05-26

J.K.

Alexander

24-06-26

E.L.

English

25-04-26

K.S.

Mann

10-05-26

B.C.

Haynes

30-05-26

B.J.

Cronin

25-06-26

C.B.

Lim

25-04-26

W.M. Cosier

10-05-26

Van Der Henst Dieguez

31-05-26

B.C.

Clarke

25-06-26

Charles

26-04-26

G.S.

Batth

10-05-26

J.P.

Trott

04-06-26

B.W. Yeo

25-06-26

A.J.

Satchell

28-04-26

Banks

11-05-26

Semple

05-06-26

Chiu

26-06-26

Byrne

28-04-26

Fielke

11-05-26

Clifford

05-06-26

Clark

26-06-26

L.W.

Smith

29-04-26

Hardy

13-05-26

Beard

06-06-26

Wainwright

26-06-26

Shashwat

29-04-26

Cesco

14-05-26

Williams

06-06-26

R.P. Kennan

26-06-26

C.B.

Bird

29-04-26

Edmunds

14-05-26

Dorrington

08-06-26

Lainas

28-06-26

O.A. Davies

30-04-26

Wallace

14-05-26

Stretch

09-06-26

Mathe

28-06-26

Coulter

30-04-26

J.J.

Chevin

15-05-26

Jennison

10-06-26

Rentsch

29-06-26

Halleur

01-05-26

Perrie

15-05-26

Svensson

12-06-26

E.J.

Kay

01-05-26

S.C.

Curio

15-05-26

A.J.

Byne

12-06-26

PG.19

Statistics OCCURRENCES Fatal Accidents (per quarter ending 30 June 2026) 30-Sep

31-Dec

31-Mar

30-Jun

TOTAL

2025-2026

2024-2025

2023-2024

2022-2023

2021-2022

ACCIDENT DATA Accidents

PG.20

Incidents 30-Sep

31-Dec

31-Mar

30-Jun

30-Sep

31-Dec

31-Mar

30-Jun

2025-2026

2024-2025

2023-2024

2022-2023

2021-2022

Statistics (continued) ACCIDENT DATA (CONT.) Defects

Hazards 30-Sep

31-Dec

31-Mar

30-Jun

30-Sep

31-Dec

31-Mar

30-Jun

2025-2026

2024-2025

2023-2024

2022-2023

2021-2022

Aircraft Damage 2025–2026

Injury to Persons 2025–2026

30-Sep

31-Dec

31-Mar

30-Jun

30-Sep

31-Dec

31-Mar

30-Jun

Destroyed

Fatal

Substantial

Serious

Minor

Nil

None

128

153

113

112

Unknown

TOTAL

ATSB Breakdown of Occurrences 2025–2026 30-Sep

31-Dec

31-Mar

30-Jun

Technical

Operational

Environmental

Airspace

Infastructure

PG.21

MEMBERS Membership numbers at points in time

New students

30-Sep

31-Dec

31-Mar

30-Jun

30-Sep

31-Dec

31-Mar

30-Jun

2025-2026

8958

8953

8900

8585

2025-2026

300

274

318

245

2024-2025

9450

9186

9188

9021

2024-2025

241

295

313

216

2023-2024

10156

9871

9732

9549

2023-2024

370

279

377

226

2022-2023

10111

10186

10337

10095

2022-2023

459

353

403

300

2021-2022

9620

9878

9978

9946

2021-2022

295

362

407

259

Members by State

Gender comparison

(as at 30 June 2026)

Financial Year

Males Females

ACT

178

2.1%

2025-2026

7569

711

NSW

2075

24.17%

2024-2025

8257

758

0.6%

2023-2024

8763

786

QLD

2595

30.23%

2022-2023

9290

812

840

9.8%

2021-2022

9239

707

TAS

208

2.42%

VIC

1857

21.6%

678

7.90%

Australia

8480

98.78%

Overseas

105

1.22%

TOTAL

8585

100.00%

*Figure excludes Life Members

SCHOOLS AND CLUBS Schools

PG.22

Clubs 30-Sep

31-Dec

31-Mar

30-Jun

30-Sep

31-Dec

31-Mar

30-Jun

2025-2026

132

130

127

125

2025-2026

2024-2025

127

128

130

131

2024-2025

2023-2024

132

134

129

128

2023-2024

2022-2023

151

147

143

136

2022-2023

2021-2022

154

152

151

150

2021-2022

Statistics (continued) AIRCRAFT 3 Axis (A)

30-Sep

31-Dec

31-Mar

30-Jun

Weight Shift (B)

2025-2026

2882

2861

2847

2834

2024-2025

2933

2915

2901

2023-2024

2964

2967

2022-2023

2969

2021-2022

2970

Powered Parachute (D)

30-Sep

31-Dec

31-Mar

30-Jun

2025-2026

107

102

100

2889

2024-2025

116

112

110

106

2957

2965

2023-2024

136

133

126

121

2982

2990

2973

2022-2023

146

144

139

138

2945

2951

2960

2021-2022

161

156

154

152

30-Sep

31Dec

3130-Jun Mar

Total

30-Sep

31-Dec

31-Mar

30-Jun

2025-2026

149

148

143

141

2025-2026

3138

3111

3092

3076

2024-2025

3180

3160

3147

153

149

152

2024-2025

3203

154

2023-2024

3256

3236

3237

156

153

151

2023-2024

3256

156

2022-2023

3288

3289

3266

162

160

155

2022-2023

3276

161

3299

3268

3274

2021-2022

168

167

163

162

AIRCRAFT TYPES Make

3 Axis

Make

Jabiru

694

Airborne

Aeroprakt

179

Tecnam

Weight Shift

Make

PPC

Aerochute Industries

120

Solo Wings

Aerochute

175

Aeros

Fresh Breeze

ICP

115

P & M Aviation

Zenith Aircraft

Air Creation

Summit Aerosports

Skyfox Aviation

65 51

Designer Builder

Howard Hughes Engineering

Airborne Windsports

Thruster Aircraft

BRM Aero

Rans

PG.23

Financial Statements Recreational Aviation Australia Limited ABN 40 070 931 645

Contents 30 June 2026 Financial Statements Director’s Report...................................................................................................................................... 25 Statement of Comprehensive income............................................................................................... 29 Statement of Financial Position.......................................................................................................... 30 Statement of Changes in Equity.......................................................................................................... 31 Statement of Cash Flows...................................................................................................................... 32 Notes to the Financial Statements..................................................................................................... 33 Directors’ Declaration............................................................................................................................ 44 Auditor’s Independence Declaration................................................................................................. 45 Independent Auditor’s Report.............................................................................................................. 46

PG.24

Recreational Aviation Australia Limited ABN 40 070 931 645

Directors' Report 30 June 2026

The directors present their report on Recreational Aviation Australia Limited for the financial year ended 30 June 2026. Directors The names of each person who has been a director during the year and to the date of this report are:

James Tatlock - Chairperson - 25 June 2026 Geoffrey Michael Monck - Previous Chairperson – 1 July 2025 - Deputy Chairperson - 21 February 2026 ending 25 June 2026 Paul Maurice John Reddish - Deputy Chairperson - 25 June 2026 Simon David Ozanne - Deputy Chairperson - 1 July 2025 - Chairperson - 21 February 2026 ending 25 June 2026 Jennifer Louise Rochfort Laird Luke William Bayly Andrew Scheiffers Stephen Limkin - Board Appointed Director Trevor Henry Finian Bange - Term completed - 14 November 2025 Directors have been in office since the start of the financial year to the date of this report unless otherwise stated. Principal activities The principal activity of Recreational Aviation Australia Limited during the financial year was to administer light aircraft in Australia. The Company has delegated functions from the Civil Aviation Safety Authority for the control and management of light aircraft registrations and pilot training and certification. The Company is responsible for setting standards for light aircraft maintenance and the training of pilots. No significant changes in the nature of the Company's activity occurred during the financial year.

PG.25

Recreational Aviation Australia Limited ABN 40 070 931 645

Directors' Report 30 June 2026

Operating results The loss of the Company after providing for income tax amounted to $ (105,367) (2025: $ (39,839)). Review of operations There were no significant changes to the operations of the Company during the year ended 30 June 2026. Significant changes in state of affairs No significant changes in the nature of these activities occurred during the year. Matters subsequent to the end of the financial year No matters or circumstances have arisen since the end of the financial year which significantly affected or could significantly affect the operations of the Company, the results of those operations or the state of affairs of the Company in future financial years. Likely developments and expected results of operations The Company will continue the same operations as described in the principal activity section in future years. The Company will commence the administration of larger aircraft within the next year under CASR Part149. This will add to the existing administration functions performed. Mission statement A respected organisation that continues to advance safe aviation and encourage training across our industry. We do this by creating opportunities for a wide range of aviation activities, through industry leadership, fostering a diverse community, and innovating across light aviation. Meetings of directors The following table sets out the number of meetings of the directors attended by each director. Directors' Meetings Number eligible to Number attend attended

Michael Monck

Luke Bayly

Trevor Bange

Andrew Scheiffers

Simon Ozanne

Paul Reddish

Jennifer Laird

James Tatlock

Stephen Limkin

PG.26

Recreational Aviation Australia Limited ABN 40 070 931 645

Directors' Report 30 June 2026

Contributions on winding up In the event of the Company being wound up, ordinary members are required to contribute a maximum of $1 each. Honorary members are not required to contribute. The total amount that members of the company are liable to contribute if the company is wound up is $8,444 based on 8,444 current ordinary members. Auditor's independence declaration The lead auditor's independence declaration in accordance with section 307C of the Corporations Act 2001, for the year ended 30 June 2026 has been received and can be found on page 4 of the financial report. Signed in accordance with a resolution of the Board of Directors:

Director: ...............................................................

Director: ................................................................

Dated this .............................. day of October 2026

PG.27

6 Phipps Close Deakin ACT 2600 PO Box 322 Curtin ACT 2605 T 02 6282 5999 F 02 6282 5933 E info@hardwickes.com.au www.hardwickes.com.au Hardwickes ABN 35 973 938 183 Hardwickes Partners Pty Ltd ABN 21 008 401 536 Liability limited by a scheme approved under Professional Standards Legislation

Recreational Aviation Australia Limited ABN 40 070 931 645

Auditor's Independence Declaration under Section 307C of the Corporations Act 2001 to the Directors of Recreational Aviation Australia Limited I declare that, to the best of my knowledge and belief, during the year ended 30 June 2026, there have been: (i)

no contraventions of the auditor independence requirements as set out in the Corporations Act 2001 in relation to the audit; and

(ii)

no contraventions of any applicable code of professional conduct in relation to the audit.

Hardwickes Chartered Accountants

Jim Gouskos CA CPA Partner Dated this 21 day of October 2026 Canberra

PG.28

Recreational Aviation Australia Limited ABN 40 070 931 645

Statement of Profit or Loss and Other Comprehensive Income For the Year Ended 30 June 2026

2026

2025

$ 3,564,155 (729,222) (2,025,558)

$ 3,591,675 (809,156) (1,788,054)

Printing and stationery Insurance

(62,876) (230,253) (621,613)

(171,251) (243,615) (619,438)

Loss before income tax Income tax expense

(105,367) -

(39,839) -

Loss for the year

(105,367)

(39,839)

(105,367)

(39,839)

Revenue Other expenses Employee benefits expense Depreciation and amortisation expense

Note 4 5 5

Other comprehensive income, net of income tax Total comprehensive income for the year

The accompanying notes form part of these financial statements.

PG.29

Recreational Aviation Australia Limited ABN 40 070 931 645

Statement of Financial Position As At 30 June 2026

2026

2025

65,624 29,008 86,023

297,123 3,311 89,572

8 9

1,250,267 249,056

1,248,143 66,465

1,679,978

1,704,614

1,481,280 2,400

1,499,662 14,200

1,483,680

1,513,862

3,163,658

3,218,476

175,850 327,730 1,018,787

144,771 292,719 1,032,158

1,522,367

1,469,648

5,568 585,353

18,044 575,047

590,921

593,091

2,113,288

2,062,739

1,050,370

1,155,737

1,038,194 12,176

1,038,194 117,543

1,050,370

1,155,737

Note ASSETS CURRENT ASSETS Cash and cash equivalents Trade and other receivables Inventories Financial assets at fair value through profit or loss Other current assets

TOTAL CURRENT ASSETS NON-CURRENT ASSETS Property, plant and equipment Intangible assets

10 11

TOTAL NON-CURRENT ASSETS TOTAL ASSETS LIABILITIES CURRENT LIABILITIES Trade and other payables Short-term provisions Income in advance

12 13 14

TOTAL CURRENT LIABILITIES NON-CURRENT LIABILITIES Long-term provisions Income in advance

13 14

TOTAL NON-CURRENT LIABILITIES TOTAL LIABILITIES NET ASSETS

EQUITY Reserves Retained earnings TOTAL EQUITY

The accompanying notes form part of these financial statements.

PG.30

Recreational Aviation Australia Limited ABN 40 070 931 645

Statement of Changes in Equity For the Year Ended 30 June 2026 2026 Retained Earnings $ Balance at 1 July 2025 Loss attributable to members Balance at 30 June 2026

Asset Revaluation Reserve $

Total $

117,543 (105,367)

1,038,194 -

1,155,737 (105,367)

12,176

1,038,194

1,050,370

Asset Revaluation Reserve

Total

2025 Retained Earnings $ Balance at 1 July 2024

Loss attributable to members

157,382 (39,839)

1,038,194 -

1,195,576 (39,839)

Balance at 30 June 2025

117,543

1,038,194

1,155,737

The accompanying notes form part of these financial statements.

PG.31

Recreational Aviation Australia Limited ABN 40 070 931 645

Statement of Cash Flows

For the Year Ended 30 June 2026

Note CASH FLOWS FROM OPERATING ACTIVITIES: Receipts from members and others Interest received Finance costs Payments to suppliers and employees

2025

3,860,239 328 (35,037)

4,069,340 1,451 -

(4,053,429)

(3,924,712)

Net cash provided by/(used in) operating activities

(227,899)

146,079

CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of property, plant and equipment Purchase of intangibles Dividend income

(32,720) 29,120

(8,500) (41,700) 36,209

(3,600)

(13,991)

(231,499)

132,088

297,123

165,035

65,624

297,123

Net cash (used in) investing activities

Net increase/(decrease) in cash and cash equivalents held Cash and cash equivalents at beginning of year Cash and cash equivalents at end of financial year

The accompanying notes form part of these financial statements.

PG.32

2026

Recreational Aviation Australia Limited ABN 40 070 931 645

Notes to the Financial Statements For the Year Ended 30 June 2026

The financial statements covers Recreational Aviation Australia Limited as an individual entity. Recreational Aviation Australia Limited is a not-for-profit company limited by guarantee under the Corporations Act 2001. 1

Basis of Preparation These general purpose financial statements have been prepared in accordance with the Australian Accounting Standards - Simplified Disclosures issued by the Australian Accounting Standards Board ('AASB'), and the Corporations Act 2001, as appropriate for not-for-profit oriented entities. Historical cost convention The financial statements have been prepared under the historical cost convention. Consolidated Entity Disclosure Statement as at 30 June 2026 Subsection 295(3A)(a) of the Corporations Act 2001 does not apply to the company, because the company is not required to prepare consolidated financial statements by Australian Accounting Standards.

Material Accounting Policy Information The principal accounting policies adopted in the preparation of the financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. (a)

Revenue and other income Revenue from contracts with customers Revenue is recognised at an amount that reflects the consideration to which the company is expected to be entitled in exchange for transferring goods or services to a customer. For each contract with a customer, the company: identifies the contract with a customer; identifies the performance obligations in the contract; determines the transaction price which takes into account estimates of variable consideration and the time value of money; allocates the transaction price to the separate performance obligations on the basis of the relative stand-alone selling price of each distinct good or service to be delivered; and recognises revenue when or as each performance obligation is satisfied in a manner that depicts the transfer to the customer of the goods or services promised Variable consideration within the transaction price, if any, reflects concessions provided to the customer such as discounts, rebates and refunds, any potential bonuses receivable from the customer and any other contingent events. Such estimates are determined using either the 'expected value' or 'most likely amount' method. The measurement of variable consideration is subject to a constraining principle whereby revenue will only be recognised to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognised will not occur. The measurement constraint continues until the uncertainty associated with the variable consideration is subsequently resolved. Amounts received that are subject to the constraining principle are recognised as a refund liability. Sales revenue Revenue from sale of goods is recognised when received or receivable.

PG.33

Recreational Aviation Australia Limited ABN 40 070 931 645

Notes to the Financial Statements For the Year Ended 30 June 2026

Material Accounting Policy Information (a)

Revenue and other income Grants Grant revenue is recognised in profit or loss when the company satisfies the performance obligations stated within the funding agreements. Interest Interest revenue is recognised as interest accrues using the effective interest method. This is a method of calculating the amortised cost of a financial asset and allocating the interest income over the relevant period using the effective interest rate, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to the net carrying amount of the financial asset. Membership subscriptions The Company's membership subscription runs for periods of either 12 months, 24 months, 36 months or 60 months. The subscription is recognised over the period the membership relates to. The Company maintains a nil refund policy on subscriptions except in exceptional circumstances or as required by law. Subscriptions for services yet to be delivered will be realised as revenue over the subscription period/s. Other revenue Other revenue is recognised when it is received or when the right to receive payment is established.

(b)

Income tax As the company is a charitable institution in terms of subsection 50-5 of the Income Tax Assessment Act 1997, as amended, it is exempt from paying income tax.

(c)

Current and non-current classification Assets and liabilities are presented in the statement of financial position based on current and non-current classification. An asset is classified as current when: it is either expected to be realised or intended to be sold or consumed in the company's normal operating cycle; it is held primarily for the purpose of trading; it is expected to be realised within 12 months after the reporting period; or the asset is cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least 12 months after the reporting period. All other assets are classified as non-current. A liability is classified as current when: it is either expected to be settled in the company's normal operating cycle; it is held primarily for the purpose of trading; it is due to be settled within 12 months after the reporting period; or there is no unconditional right to defer the settlement of the liability for at least 12 months after the reporting period. All other liabilities are classified as non-current.

PG.34

Recreational Aviation Australia Limited ABN 40 070 931 645

Notes to the Financial Statements For the Year Ended 30 June 2026

Material Accounting Policy Information (d)

Goods and services tax (GST) Revenue, expenses and assets are recognised net of the amount of associated GST, unless the GST incurred is not recoverable from the tax authority. In this case it is recognised as part of the cost of the acquisition of the asset or as part of the expense. Receivables and payable are stated inclusive of GST receivable or payable. The net amount of GST recoverable from, or payable to, the tax authority is included in other receivables or other payables in the statement of financial position. Cash flows are presented on a gross basis. The GST components of cash flows arising from investing or financing activities which are recoverable from, or payable to the tax authority, are presented as operating cash flows. Commitments and contingencies are disclosed net of the amount of GST recoverable from, or payable to, the tax authority.

(e)

Inventories Inventories are measured at the lower of cost and net realisable value. Cost of inventory is determined using weighted average costs basis and is net of any rebates and discounts received.

(f)

Property, plant and equipment Plant and equipment is stated at historical cost less accumulated depreciation and impairment. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Buildings are recorded at fair value and subject to periodical independent valuations. Depreciation is calculated on a straight-line basis to write off the net cost of each item of property, plant and equipment (excluding land) over their expected useful lives as follows:

Class of fixed asset Buildings Furniture, Fixtures and Fittings Office Equipment Computer Equipment

Useful life / Depreciation rate 40 years / 2.5% 5-10 years / 10%-20% 3-10 years / 10%-33% 3 years / 33%

The residual values, useful lives and depreciation methods are reviewed, and adjusted if appropriate, at each reporting date. An item of property, plant and equipment is derecognised upon disposal or when there is no future economic benefit to the company. Gains and losses between the carrying amount and the disposal proceeds are taken to profit or loss.

PG.35

Recreational Aviation Australia Limited ABN 40 070 931 645

Notes to the Financial Statements For the Year Ended 30 June 2026

Material Accounting Policy Information (g)

Financial instruments Financial assets Financial assets through profit or loss Financial assets not measured at amortised cost or at fair value through other comprehensive income are classified as financial assets at fair value through profit or loss. Typically, such financial assets will be either: (i) held for trading, where they are acquired for the purpose of selling in the short-term with an intention of making a profit, or a derivative; or (ii) designated as such upon initial recognition where permitted. Fair value movements are recognised in profit or loss.

(h)

Impairment of non-financial assets Non-financial assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. Recoverable amount is the higher of an asset's fair value less costs of disposal and value-in-use. The value-inuse is the present value of the estimated future cash flows relating to the asset using a pre-tax discount rate specific to the asset or cash-generating unit to which the asset belongs. Assets that do not have independent cash flows are grouped together to form a cash-generating unit.

(i)

Intangible assets Intangible assets relate to developed software used in the provision of services to members. The costs capitalised relate to development costs only and exclude the costs of research. Developed software is amortised on a straight line basis over 10 years. Amortisation methods, assets? useful lives and residual values are reviewed at each reporting date and adjusted if appropriate.

(j)

Cash and cash equivalents Cash and cash equivalents includes cash on hand, deposits held at call with financial institutions, other shortterm, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.

(k)

Trade and other payables These amounts represent liabilities for goods and services provided to the company prior to the end of the financial year and which are unpaid. Due to their short-term nature they are measured at amortised cost and are not discounted. The amounts are unsecured and are usually paid within 30 days of recognition.

(l)

Employee benefits Short-term employee benefits Liabilities for wages and salaries, including non-monetary benefits, annual leave and long service leave expected to be settled wholly within 12 months of the reporting date are measured at the amounts expected to be paid when the liabilities are settled.

PG.36

Recreational Aviation Australia Limited ABN 40 070 931 645

Notes to the Financial Statements For the Year Ended 30 June 2026

Material Accounting Policy Information (l)

Employee benefits Other long-term employee benefits The liability for annual leave and long service leave not expected to be settled within 12 months of the reporting date are measured at the present value of expected future payments to be made in respect of services provided by employees up to the reporting date using the projected unit credit method. Consideration is given to expected future wage and salary levels, experience of employee departures and periods of service. Expected future payments are discounted using market yields at the reporting date on national government bonds with terms to maturity and currency that match, as closely as possible, the estimated future cash outflows. Defined contribution superannuation expense Contributions to defined contribution superannuation plans are expensed in the period in which they are incurred.

(m)

Adoption of new and revised accounting standards The entity has adopted all of the new or amended Accounting Standards and Interpretations issued by the Australian Accounting Standards Board ('AASB') that are mandatory for the current reporting period. Any new or amended Accounting Standards or Interpretations that are not yet mandatory have not been early adopted.

Critical Accounting Estimates and Judgments The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts in the financial statements. Management continually evaluates its judgements and estimates in relation to assets, liabilities, contingent liabilities, revenue and expenses. Management bases its judgements, estimates and assumptions on historical experience and on other various factors, including expectations of future events, management believes to be reasonable under the circumstances. The resulting accounting judgements and estimates will seldom equal the related actual results. The judgements, estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities (refer to the respective notes) within the next financial year are discussed below. Estimation of useful lives of assets The Company determines the estimated useful lives and related depreciation and amortisation charges for its property, plant and equipment and finite life intangible assets. The useful lives could change significantly as a result of technical innovations or some other event. The depreciation and amortisation charge will increase where the useful lives are less than previously estimated lives, or technically obsolete or non-strategic assets that have been abandoned or sold will be written off or written down. Impairment The Company assesses impairment at each reporting date by evaluating conditions specific to the company that may lead to impairment of assets. Should an impairment indicator exist, the determination of the recoverable amount of the asset may require incorporation of a number of key estimates. No impairment indicators were present as at year end.

PG.37

Recreational Aviation Australia Limited ABN 40 070 931 645

Notes to the Financial Statements For the Year Ended 30 June 2026

Critical Accounting Estimates and Judgments Employee benefits provision The liability for employee benefits expected to be settled more than 12 months from the reporting date are recognised and measured at the present value of the estimated future cash flows to be made in respect of all employees at the reporting date. In determining the present value of the liability, estimates of attrition rates and pay increases through promotion and inflation have been taken into account.

Revenue

Revenue from contracts with customers - Membership Income - Aircraft Registrations - Government funding - Non-government funding - Sale of Merchandise Other Income Advertising Other Interest income Investment Income - Dividends and fair value gains

2026

2025

2,487,345 685,716 133,501 48,864 29,928

2,459,314 695,307 184,229 30,634

3,385,354

3,369,484

27,782 20,932 328

28,909 27,658 1,451

129,759

164,173

178,801

222,191

3,564,155

3,591,675

2026

2025

72,092 68,615 35,037 133,135 59,854 177,174 124,834 13,606 44,875

125,660 27,730 33,956 79,616 257,863 133,137 117,060 8,168 25,966

729,222

809,156

Expenses Other expenses

Accommodation, meetings and travel Advertising and promotions Bank charges Computer system Legal expenses Office expenses Other professional fees Postage and PO Box Scholarships and donations

PG.38

Recreational Aviation Australia Limited ABN 40 070 931 645

Notes to the Financial Statements For the Year Ended 30 June 2026

Expenses Employee benefits expense

2026 $

Salaries Superannuation Others

Cash and Cash Equivalents

Cash at bank and in hand

Inventories

Merchandise

Financial assets at fair value through profit or loss

Investments

2025 $

1,745,413 209,698 70,447

1,649,872 180,913 (42,731)

2,025,558

1,788,054

2026

2025

$ 65,624

$ 297,123

65,624

297,123

2026

2025

$ 86,023

$ 89,572

86,023

89,572

2026

2025

$ 1,250,267

$ 1,248,143

1,250,267

1,248,143

2026

2025

The Investments have been valued based on their quoted market prices in active markets. 9

Other current assets

Prepayments

$ 249,056

$ 66,465

249,056

66,465

1,563,470 (119,128)

1,540,000 (80,208)

1,444,342

1,459,792

Property, Plant and Equipment Building - at fair value Accumulated depreciation

PG.39

Recreational Aviation Australia Limited ABN 40 070 931 645

Notes to the Financial Statements For the Year Ended 30 June 2026

Property, Plant and Equipment Furniture and fittings - at cost Accumulated depreciation

Office equipment - at cost Accumulated depreciation

Computer equipment - at cost Accumulated depreciation

Total property, plant and equipment (a)

105,590 (78,657)

100,914 (72,669)

26,933

28,245

97,609 (90,017)

93,036 (87,166)

7,592

5,870

33,536 (31,123)

36,835 (31,080)

2,413

5,755

1,481,280

1,499,662

Movements in carrying amounts of property, plant and equipment Movement in the carrying amounts for each class of property, plant and equipment between the beginning and the end of the current financial year:

Buildings

Furniture, Fixtures and Fittings

Office Equipment

Computer Equipment

Total

Year ended 30 June 2026 Balance at the beginning of year Additions Disposals Depreciation expense

1,459,792 23,470 (38,920)

28,244 4,677 (5,988)

5,870 4,573

(2,851)

(25) (3,317)

1,499,661 32,720 (25) (51,076)

Balance at the end of the year

1,444,342

26,933

7,592

2,413

1,481,280

5,755

PG.40

Recreational Aviation Australia Limited ABN 40 070 931 645

Notes to the Financial Statements For the Year Ended 30 June 2026

Property, Plant and Equipment (a)

Movements in carrying amounts of property, plant and equipment

Buildings

Furniture, Fixtures and Fittings

Office Equipment

Computer Equipment

Total

Year ended 30 June 2025 Balance at the beginning of year Additions Depreciation expense

1,498,292 (38,500)

34,101 (5,856)

4,107 5,125 (3,362)

5,515 3,375 (3,135)

1,542,015 8,500 (50,853)

Balance at the end of the year

1,459,792

28,245

5,870

5,755

1,499,662

The building was revalued based on a valuation by Egan National Valuers as at 31 May 2023. The valuation has been determined on the basis current market value assuming vacant possession. Market value was determined by reference to comparable sales.

Intangible Assets

Modernisation project - software Accumulated amortisation

2026

2025

753,398 (750,998)

753,398 (739,198)

2,400

14,200

Total Intangible assets 12

Trade and Other Payables

CURRENT Trade payables Accrued expenses GST and PAYG liabilities Other payables

2026

2025

82,608 51,811 35,080 6,351

58,916 32,851 32,663 20,341

175,850

144,771

PG.41

Recreational Aviation Australia Limited ABN 40 070 931 645

Notes to the Financial Statements For the Year Ended 30 June 2026

Provisions

Current liabilities Provision for annual leave Provision for long service leave

2026

2025

144,986 182,744

137,332 155,387

327,730

292,719

5,568

18,044

5,568

18,044

Non-current liabilities Provision for long service leave

Income in advance

Current

Non-current

2026

2025

$ 1,018,787

$ 1,032,158

1,018,787

1,032,158

585,353

575,047

585,353

575,047

. 15

Remuneration of auditors During the financial year the following fees were paid or payable for services provided by the auditor of the company

Audit services 16

2026

2025

19,000

19,800

Government funding The Company receives financial assistance from the Civil Aviation Safety Authority on an annual basis. The assistance is provided pursuant to a Memorandum of Agreement. There is a separate Memorandum of Agreement each financial year and assistance is provided only on a basis of certain functions being performed by the Company.

Related Parties The Directors and their related entities transact with the Company from time to time on normal terms and conditions that are no more favourable than those available to others. The types of transactions involved include those that are provided by the Company as part of its normal operations. The transactions are settled at the time of the transaction, and no amounts are owing to the Company at year end in respect of these transactions. The total value of these transactions is low and is considered by the Company to be immaterial.

PG.42

Recreational Aviation Australia Limited ABN 40 070 931 645

Notes to the Financial Statements For the Year Ended 30 June 2026

Related Parties With the exception of compensation of key management personnel, which is separately disclosed in these statements, there were no other related party transaction during the financial year.

Key Management Personnel Compensation The aggregate compensation made to members of key management personnel of the company is set out below: 2026 2025 Key management personnel compensation

$ 933,875

$ 794,175

Contingent Liabilities RAAus is represented by its insurers following the conclusion of an Inquest involving the death of a former member. The matter is ongoing and not completed as at reporting. The company had no other contingent liabilities as at 30 June 2026.

Commitments The company had no commitments for expenditure as at 30 June 2026.

Fair Value Measurement When an asset or liability, financial or non-financial, is measured at fair value for recognition or disclosure purposes, the fair value is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date; and assumes that the transaction will take place either: in the principal market; or in the absence of a principal market, in the most advantageous market. Fair value is measured using the assumptions that market participants would use when pricing the asset or liability, assuming they act in their economic best interests. For non-financial assets, the fair value measurement is based on its highest and best use. Valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, are used, maximising the use of relevant observable inputs and minimising the use of unobservable inputs.

Events After the Reporting Period No other matter or circumstance has arisen since 30 June 2026 that has significantly affected, or may significantly affect the company's operations, the results of those operations, or the company's state of affairs in future financial years.

Company Details The registered office and principal places of business of the Company is: Recreational Aviation Australia Limited Unit 3, 1 Pirie Street Fyshwick ACT 2609

PG.43

Recreational Aviation Australia Limited ABN 40 070 931 645

Directors' Declaration In the directors' opinion: 1.

the financial statements and notes for the year ended 30 June 2026 are in accordance with the Corporations Act 2001 and: a.

comply with Accounting Standards, which, as stated in basis of preparation Note 1 to the financial statements, constitutes explicit and unreserved compliance with International Financial Reporting Standards (IFRS); and

give a true and fair view of the financial position and performance of the Company.

there are reasonable grounds to believe that the Company will be able to pay its debts as and when they become due and payable.

This declaration is made in accordance with a resolution of the Board of Directors.

Director ..................................................................

Dated this __ day October 2026

PG.44

Recreational Aviation Australia Limited

Independent Audit Report to the members of Recreational Aviation Australia Limited Report on the Audit of the Financial Report Opinion We have audited the financial report of Recreational Aviation Australia Limited (the Company), which comprises the statement of financial position as at 30 June 2026, the statement of profit or loss and other comprehensive income, the statement of changes in equity and the statement of cash flows for the year then ended, and notes to the financial statements, including material accounting policy information and the directors' declaration. In our opinion, the accompanying financial report of the Company is in accordance with the Corporations Act 2001, including: (i)

giving a true and fair view of the Company's financial position as at 30 June 2026 and of its financial performance for the year ended; and

(ii) complying with Australian Accounting Standards - Simplified Disclosures and the Corporations Regulations 2001. Basis for Opinion We conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Report section of our report. We are independent of the Company in accordance with the auditor independence requirements of the Corporations Act 2001 and the ethical requirements of the Accounting Professional and Ethical Standards Board's APES 110 Code of Ethics for Professional Accountants (including Independence Standards) (the Code) that are relevant to our audit of the financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code. We confirm that the independence declaration required by the Corporations Act 2001, which has been given to the directors of the Company, would be in the same terms if given to the directors as at the time of this auditor's report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Other Information The directors are responsible for the other information. The other information comprises the information included in the Company's annual report for the year ended 30 June 2026 but does not include the financial report and the auditor's report thereon. Our opinion on the financial report does not cover the other information and accordingly we do not express any form of assurance conclusion thereon. In connection with our audit of the financial report, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial report or our knowledge obtained in the audit or otherwise appears to be materially misstated. 21

PG.45

Recreational Aviation Australia Limited

Independent Audit Report to the members of Recreational Aviation Australia Limited If, based on the work we have performed on the other information obtained prior to the date of this auditor's report, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Responsibilities of Directors for the Financial Report The directors of the Company are responsible for the preparation of the financial report that gives a true and fair view in accordance with Australian Accounting Standards - Simplified Disclosures and the Corporations Act 2001 and for such internal control as the directors determine is necessary to enable the preparation of the financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error. In preparing the financial report, the directors are responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so. Auditor's Responsibilities for the Audit of the Financial Report Our objectives are to obtain reasonable assurance about whether the financial report as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with Australian Auditing Standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial report. A further description of our responsibilities for the audit of the financial report is located at the Auditing and Assurance Standards Board website at: https://www.auasb.gov.au/auditors_responsibilities/ar4.pdf. This description forms part of our auditor's report.

Hardwickes Chartered Accountants

Jim Gouskos CA CPA Partner Dated this 21 day of October 2026 Canberra

PG.46

Recreational Aviation Australia ACN 070 931 645 3/1 Pirie St, Fyshwick ACT E: members@raaus.com.au P: (02) 6280 4700 | W: raaus.com.au