2025/26 Financial Report

Financial Report 2025/26

RFDS (QUEENSLAND SECTION)

2025/26 Financial Report

Our story

The

furthest corner. The finest care.

In much of Queensland, the nearest hospital is not down the road. It can be hundreds of kilometres away, across country with no sealed roads and often no mobile phone signal. For almost 100 years, the Flying Doctor has existed to close that distance. Our story began with Reverend John Flynn, who dreamed of creating a ‘mantle of safety’ for people who live and work in the outback. In 1928 that dream took flight, when pilot Arthur Affleck lifted off in a single-engine biplane named Victory and launched the Australian Inland Mission Aerial Medical Service. It relied on supporters from the very beginning. Hugh Victor McKay, a long-time advocate, left a gift in his Will to fund the ‘aerial experiment’, and a year later engineer Alfred Traeger built the pedal-operated radio giving remote families a way to call for help. Today, the Flying Doctor has grown into one of the largest and most comprehensive aeromedical and primary health care organisations in the world. In Queensland, we employ more than 670 people, from pilots, doctors and nurses to mental health clinicians, engineers, dentists and support staff. We have a fleet of 26 aircraft and operate across nine bases, at Brisbane, Bundaberg, Cairns,

ii

The furthest corner. The finest care.

Charleville, Longreach, Mount Isa, Rockhampton, Roma, and Townsville, reaching properties, clinics and communities across some of the most remote regions. Distance changes everything. In the bush, a stockyard accident or a difficult birth carries a weight it would not carry in the city. Every minute matters when help is far away. Our services extend beyond emergency aeromedical retrievals. We run GP and nurse clinics, bring dental care to towns that have never had a dentist, keep more than 1,320 medical chests stocked in homesteads and roadhouses, and provide mental health and telehealth support around the clock. On an average day, our teams deliver more than 220 occasions of care across Queensland. None of it happens alone. It is made possible by our people and the communities they serve, by our partners in government and industry, and by supporters, like you, who have believed in this work for generations. This report is the story of what that shared effort made possible in 2025/26, and where it will carry us as we approach our centenary in 2028.

Financial Report 2025/26

Contents Financial report – foreword ................................................................................ 3 Our year in numbers ........................................................................................ 4-5 Organisational structure ...................................................................................... 6 Board overview .................................................................................................... 7 Director’s report ............................................................................................. 8-11 Consolidated statement of financial position ....................................................12 Consolidated statement of profit or loss and other comprehensive income ..... 13 Consolidated statement of changes in equity ....................................................14 Consolidated statement of cash flows ...............................................................15 Notes to the financial statements ................................................................. 16-36 Director’s declaration ..........................................................................................37 Independent auditor’s report ....................................................................... 38-39 Auditor’s independence declaration................................................................... 40

Royal Flying Doctor Service of Australia (Queensland Section) ABN 80 009 663 478 Consolidated financial report 30 June 2026

RFDS (Queensland Section)

1

Insert title here

2

The furthest corner. The finest care.

Financial Report 2025/26

Financial report - foreword The Royal Flying Doctor Service of Australia (Queensland Section) Limited is dedicated to providing vital healthcare to everyone living, travelling, or working in regional, rural and remote Queensland. The Commonwealth Government provides funding to support our services across emergency retrievals, primary health care and the Mobile Dental Unit; and the Queensland Government provides funding for the inter-facility transfer service and some individual primary health programs. The funding we receive is essential to the delivery of these services. In addition to the substantial funding from the State and Federal Governments to deliver our services, we heavily rely on fundraising initiatives and donations from individuals, organisations and the community to provide sufficient funding to meet operational costs as well as to purchase and fit out our aircraft, purchase vital medical equipment and invest in our operational facilities. We are grateful to receive support from the community to help us continue providing the finest care to the furthest corner. The following financials incorporate the Royal Flying Doctor Service of Australia (Queensland Section) Limited, RFDS (QLD) Services Limited and RFDS Foundation Limited (the Consolidated Service), for the financial year ended 30 June 2026. The consolidated operating result for the year was an operating deficit of $26.4 million, as our service delivery operating costs exceeded the revenue (including operating grants) by this amount. This deficit reflects the increasing costs of delivering our service. The overall consolidated surplus for the year was $10.2 million after accounting for non-operational funding including donations and bequests of $43.3 million. Capital grant and capital donation revenue of $3.769 million is shown separately because we have received these funds for future investment in our assets – aircraft, medical equipment and infrastructure. Whilst the Consolidated Service produced an overall surplus for the financial year, this surplus, along with borrowed funds, will be utilised to fund the significant forecast capital commitments required in coming years. We have also commenced a program of disposing of non-core assets such as a leasehold property and three aircraft to help meet our large future capital commitments and reduce operating costs. Our current commitments include aircraft replacement purchases of $114.645 million as we replace ageing aeromedical aircraft in coming years, and we have committed to base development costs of $2.4 million which relate to the completion of our new Brisbane Base. We also hope to soon commence the construction of our new Townsville Base. Thank you again to our supporters, without your support, the RFDS would not be able to provide, advocate and facilitate equitable access to comprehensive quality healthcare for regional, rural and remote Queensland.

Georgina Somerset AM Chair RFDS (Queensland Section)

RFDS (Queensland Section)

3

2025/26

Our

year in numbers

The RFDS continues to provide vital emergency medical and primary health care services to regional, rural and remote communities across Queensland.

More than

220

1,940

13,410

1,320

occasions of care across Queensland each day

immunisations administered

consultations conducted by RFDS mental health clinicians and headspace Cairns

medical chests in rural and remote locations

13,900 22,210 27,230 patients transferred

4

consultations were conducted at RFDS GP and nurse clinics

The furthest corner. The finest care.

calls through our telehealth service

2,510 consultations by our RFDS Dental Service

RFDS (Queensland Section)

5

Insert title here Governance

Organisational structure Board Queensland Section

Board Queensland Services

People, Culture and Governance

Finance, Risk and Audit

Board Foundation

Aviation, Engineering and Logistics

Health Services

Investment

Chief Executive Officer

Chief Financial and Corporate Services Officer

Chief Risk Officer

Data and People Integration Services Finance Digital and Base Support Technology Enterprise PMO

Risk and Assurance Workplace Health and Safety Sustainability

Aviation Engineering Operations Control Centre

Chief Operating Officer Clinical Service Delivery

Chief Fundraising and Engagement Officer

Chief Medical Officer and Clinical Advisor

Dental Mental Health Nursing Primary Health Care Aeromedical

Virtual and Digital Health Medical Chest Medical Officers Telehealth

hilanthropy P Partnerships and Community Supporter Engagement Supporter Services

Marketing Events Commercial Ventures Graphic design Innovation

Advisory committees, made up of directors and external committee members. Executive Leadership Team.

6

Chief Operating Officer Aviation, Engineering and Logistics

The furthest corner. The finest care.

Financial Report 2025/26

Board overview The RFDS comprises seven legal entities operating across Australia under a federated structure, working together through a joint venture agreement. Each entity is independent, financially and operationally, with its own Board and management. The RFDS (Queensland Section) Board serves as the governing body for the organisation in Queensland and is accountable to stakeholders for ensuring strong governance. Board members contribute extensive experience, knowledge and skills, guiding the organisation to ensure regional, rural and remote communities remain connected to world-class healthcare and aeromedical services.

Mr Ivan Frkovic

Mr Adrian Carson AM

Chair

Deputy Chair

Board Member

Mr Mark Gray

Mr Michael Hockin

Board Member

Board Member

Mrs Georgina Somerset AM

Prof. Catrina Felton-Busch Board Member

Hon Bruce Scott AM Board Member

Mr Cameron MacMillan

Mr Russell Postle AM

Board Member

Board Member

Dr John Wakefield PSM

Ms Jane Williams

Board Member

Board Member

RFDS (Queensland Section)

7

Directors’ report

Directors’ report For the year ended 30 June 2026

The directors present their report together with the financial report of The Royal Flying Doctor Service of Australia (Queensland Section) Limited and its controlled entities, RFDS (QLD) Services Limited and RFDS Foundation Limited (the Consolidated Service), for the financial year ended 30 June 2026 and the auditor’s report thereon.

1. Directors The directors of the Consolidated Service at any time during or since the end of the financial year are: Directors

Appointed date

Mrs Georgina Somerset AM (Chair) FAICD, ARLF, FQA, HonDUniv, UniSQ

Appointed July 2016

Adjunct A/Professor Ivan Frkovic (Deputy Chair) BSW, MSWAP

Appointed June 2023

Mr Adrian Carson AM

Appointed August 2025

Professor Catrina Felton-Busch BA, MPH, Grad Cert PHC Res, PHD (candidate), ARLF

Appointed January 2023

Mr Edward Fewings

Appointed October 2020 / Resigned November 2025

Mr Mark Gray D. Univ, BEcon (Hons), FAICD

Appointed August 2015

Mr Michael Hockin BE (Hons), MIEAust, FRAeS, GAICD

Appointed January 2024

Mr Cameron MacMillan BBus (USQ), MBA (UQ), GAICD

Appointed August 2025

Mr Russell Postle AM FCA, CTA, MAICD

Appointed October 1994

The Hon. Bruce Scott AM

Appointed June 2016

Emeritus Professor Robert Stable AM MBBS DUniv (QUT), MHP, FRACGP, FCHSM, FAICD

Appointed November 2012 / Resigned November 2025

Dr John Wakefield PSM MB. CHB, MPH (research), FRACMA, FRACGP, FACRRM, FQAAS

Appointed January 2026

Ms Jane Williams

Appointed January 2024

Company Secretary Ms Katherine Fleming LLB (Hons 2B), MBus(Comms), GDip ACG, MGIA, MAICD

8

The furthest corner. The finest care.

Appointed March 2025

Financial Report 2025/26

Directors’ report For the year ended 30 June 2026

2. Directors’ meetings The number of Directors’ meetings (including meetings of committees of Directors) and number of meetings attended by each of the Directors and committee members of the Consolidated Service during the financial year are: Director

Board Meetings

Finance, Risk and People and Audit Committee Culture Meetings Committee Meetings

Aviation and Logistics Committee Meetings

Health Services Committee Meetings

A

B

A

B

A

B

A

B

A

B

Mrs G Somerset

6

6

6

6

3

4

4

4

4

4

Adj Prof I Frkovic

5

6

–

–

4

4

–

–

–

–

Mr A Carson

5

5

–

–

2

3

–

–

3

3

Prof C Felton-Busch

5

6

3

3

–

–

2

2

3

4

Mr E Fewings

1

2

–

–

1

2

–

–

–

–

Mr M Gray

6

6

6

6

–

–

–

–

–

–

Mr M Hockin

6

6

–

–

–

–

4

4

–

–

Mr C MacMillan

5

5

4

5

–

–

3

3

–

–

Mr R Postle

6

6

6

6

–

–

–

–

4

4

Hon. B Scott

6

6

–

–

–

–

4

4

–

–

Dr R Stable

2

2

–

–

–

–

1

2

1

2

Dr J Wakefield

1

3

–

–

2

2

–

–

2

2

Ms J Williams

6

6

–

–

4

4

–

–

4

4

Committee Members Mr W Fellows

–

–

5

6

–

–

–

–

–

–

Ms Y Forudi

–

–

5

6

–

–

–

–

–

–

Dr J Lee

–

–

–

–

–

–

–

–

4

4

Ms L Martin

–

–

–

–

–

–

–

–

2

4

Mr C McKie

–

–

–

–

–

–

4

4

–

– 4

Dr I Myers

–

–

–

–

–

–

–

–

3

Mr D Petie

–

–

6

6

–

–

–

–

–

–

Ms N Roach

–

–

–

–

3

4

1

4

–

–

Dr S Rothwell

–

–

–

–

–

–

–

–

4

4

Ms H Watson

–

–

–

–

1

2

–

–

–

–

A Number of meetings attended B Number of meetings held during the time the director held office during the year

RFDS (Queensland Section)

9

Directors’ report

Directors’ report For the year ended 30 June 2026

3. Principal activities The principal activity of the Consolidated Service during the course of this financial year was the provision of healthcare services, primarily to regional, rural and remote parts of Queensland. There were no significant changes in the nature of the activities of the Consolidated Service during the year.

Objectives The strategic plan of the Consolidated Service, which is consistent with the RFDS Federation strategic plan, aims to ensure that the Consolidated Service is delivering excellence in healthcare, whilst also working to diversify and expand its range of primary healthcare and aeromedical services. The strategic plan includes information about our vision, what the organisation would like to achieve, as well as an outline of both the immediate and long-term programs of work that will allow us to reach this vision. The Consolidated Services’ long-term objectives are covered by the Consolidated Services’ vision that we will provide, advocate and facilitate equitable access to comprehensive quality healthcare for regional, rural and remote Queensland. During the past year, operations have been maintained, providing a mantle of safety across Queensland. The Consolidated Service aims to achieve this through: > Innovative services and methods of delivery which earn the Consolidated Service a reputation for world class quality, safety and efficiency. > Continually developing our people within a culturally safe environment, so that their satisfaction in their roles is only exceeded by the community respect they have as Service employees. > Being the leading health organisation governments and non-government organisations rely on for the appropriate provision of comprehensive healthcare services to regional, rural and remote Queensland. The Consolidated Service’s strategic objectives could not be achieved without the RFDS undertaking its principal activities of the provision of aeromedical, primary health care and dental services.

10 The furthest corner. The finest care.

The Consolidated Service measures its performance via an analysis of the key patient, aviation and financial statistics contained in the back of this report.

4. Operating performance The consolidated operating result for the year was an operating deficit of $26.436 million (2025: deficit $17.451 million). This increasing deficit reflects the increasing costs of delivering our service due to the higher costs of fuel and aircraft parts. The Consolidated Service has implemented an efficiency program to limit cost increases wherever possible due to the uncertainty of future fuel prices and broader costs increases particularly within the health and aviation industries. The overall consolidated surplus for the year was $10.180 million (2025: $21.431 million) after accounting for non-operational funding. No income tax is payable as the Consolidated Service is exempt under Australian taxation legislation. During the year the Consolidated Service received $43.290 million in donations and bequests (2025: $32.597 million) that are used to meet operational and investment requirements for the Consolidated Service. In addition to this, the Consolidated Service received $3.769 million (2025: $13.848 million) in non-operational grant revenue and donations to fund its capital infrastructure programs. The Consolidated Service will embark on a significant capital acquisition program in coming years due to the requirement to replace ageing aircraft in the current fleet. This is reflected in the commitment of future aircraft purchases and fit-out of $114.645 million which are expected to be brought into service by the end of the 2031 financial year. An additional amount of $2.400 million is committed to base development which is expected to be fulfilled by the end of the 2028 financial year. In addition to these contractual commitments, it is expected that there will be a further $2.039 million outlay over the next 12 months in expected but not contractually committed capital expenditure relating to aviation engineering and medical equipment as well as future base redevelopments not yet contractually committed. The commitments will be funded via existing cash and cash equivalent balances, future cash flows, contracted

Financial Report 2025/26

Directors’ report For the year ended 30 June 2026

funding arrangements, fundraising, investments and where necessary, external borrowings. Planning for these aircraft purchases is reflected in the balance sheet of the Consolidated Service at 30 June 2026 with the funds held in the Capital Investment vehicle increasing to $22.523 million (2025: $16.134 million). The balance of funds in this Capital Investment vehicle is expected to grow over the course of the 2027 financial year. The Consolidated Service commenced a program to dispose of non-core assets in the 2026 financial year with a leasehold property and three aircraft now designated as assets held for sale. The carrying value of these assets is $9.699 million with sales expected to be completed by 31 December 2026. The proceeds of these sales will be used to repay external borrowings and assist in funding future contractual commitments. The Consolidated Service borrowed an additional $4.000 million (2025: nil) from external funding sources during the course of the year and made repayments of $8.146 million (2025: $2.271 million). As at 30 June 2026, the Consolidated Service had an external loan balance of $25.749 million (2025: $29.895 million). These loan balances relate to two loan facilities with the ANZ that have combined limits of $36.667 million. These loan facilities have lending covenants in relation to Interest Cover Ratio and a Minimum Cash and Investment holdings. Compliance with these covenants is continually tested, monitored and forecasted and the Consolidated Service has always been complaint with these covenants over the course of the 2026 financial year. Further information about likely developments in the operations of the Consolidated Service and the expected results of those operations in future financial years has not been included in this report because disclosure of the information would be likely to result in unreasonable prejudice to the Consolidated Service.

5. Significant changes in the state of affairs In the opinion of the Directors there were no significant changes in the state of affairs of the Consolidated Service that occurred during the financial year under review.

6. Events subsequent to reporting date There has not arisen in the interval between the end of the financial year and the date of this report any item, transaction or event of a material and unusual nature likely, in the opinion of the directors of the Service, to affect significantly the operations of the Consolidated Service, the results of those operations, or the state of affairs of the Consolidated Service, in future financial years.

7. Members liability The Royal Flying Doctor Service of Australia (Queensland Section) Limited is incorporated under the Corporations Act 2001 as a company limited by guarantee. In the event of the Consolidated Service being wound up, the liability of each of the Members is limited to two dollars. As at 30 June 2026 the total liability for membership in the event that the Consolidated Service is wound up would be $100.

8. Lead auditor’s independence declaration The lead auditor’s independence declaration is set out on page 40 and forms part of the directors’ report for the financial year ended 30 June 2026.

9. Rounding off The Company is of a kind referred to in ASIC Corporations Instrument 2016/191 and in accordance with that Instrument, amounts in the financial report and directors’ report have been rounded off to the nearest thousand dollars, unless otherwise stated. This report is made out in accordance with a resolution of the directors.

Georgina Somerset AM Chair

Russell Postle AM Director

Dated at Brisbane this 24th day of September 2026.

RFDS (Queensland Section) 11

Consolidated statements

Consolidated statement of financial position As at 30 June 2026 2026

In thousands of dollars

2025

Note

Consolidated

Parent Entity

Consolidated

Parent Entity

Cash and cash equivalents

12

26,004

14,747

20,347

17,001

Trade and other receivables

11

37,580

35,894

38,207

37,226

Inventories

10

6,333

5,837

5,935

5,134

952

952

2,927

924

ASSETS

Term deposits Capital investments

13

22,523

–

16,134

–

Assets held for sale Total current assets

14

9,699 103,091

9,699 67,129

83,550

60,285

Capital investments

13

36,934

1,899

29,183

1,439

4,958

4,958

760

760

Derivative asset Property, plant and equipment

15

197,606

197,470

213,989

213,802

Right-of-use assets Total non-current assets

16

3,412 242,910

3,412 207,739

1,766 245,698

1,766 217,767

346,001

274,868

329,248

278,052

Total assets LIABILITIES

Trade and other payables Employee benefits

19 20

11,742 13,242

10,595 12,686

15,811 11,601

16,086 11,161

Grants – contract liabilities Lease liabilities

17 22

50,152 645

50,134 645

43,175 499

42,679 499 70,425

Total current liabilities

75,781

74,060

71,086

Employee benefits

20

2,349

2,094

2,205

1,917

Loan payable

21

25,749

36,717

29,895

46,589

Lease liabilities

22

2,657

2,657

976

976

Total non-current liabilities

30,755

41,468

33,076

49,482

Total liabilities

106,536

115,528

104,162

119,907

Net assets

239,465

159,340

225,087

158,146

EQUITY

Reserves Retained surplus Total equity

18

5,360

5,360

1,162

1,162

234,105

153,980

223,925

156,984

239,465

159,340

225,087

158,146

The statement of financial position is to be read in conjunction with the following notes to the financial statements.

12 The furthest corner. The finest care.

Financial Report 2025/26

Consolidated statement of profit or loss and other comprehensive income For the year ended 30 June 2026 2026

In thousands of dollars

2025

Note

Consolidated

Parent Entity

Consolidated

Parent Entity

Operating revenue Less: Operating expenses

5 7

154,710 (181,146)

148,772 (174,942)

149,791 (167,242)

144,184 (161,581)

Operating deficit

6

(26,436)

(26,170)

(17,451)

(17,397)

ADD NON-OPERATIONAL FUNDING

Bequests

13,092

–

9,270

–

Donations

30,198

30,198

23,327

23,324

(13,945)

(13,945)

(10,549)

(10,549)

4,311

3,953

2,986

2,646

33,656

20,206

25,034

15,421

7,220

(5,964)

7,583

(1,976)

Fundraising expenses Net financing income

9

Surplus/(deficit) from continuing operations OTHER NON-OPERATIONAL ITEMS

Capital grants and capital donations

5

3,769

3,769

13,848

13,848

Impairment of asset held for sale

14

(809)

(809)

–

–

Surplus for the year

6

10,180

(3,004)

21,431

11,872

4,198

4,198

282

282

14,378

1,194

21,713

12,154

OTHER COMPREHENSIVE INCOME

Items that may be reclassified subsequent to profit and loss Cash flow hedges – effective portion of changes in fair value Total comprehensive income for the year

The statement of profit or loss and other comprehensive income is to be read in conjunction with the following notes to the financial statements.

RFDS (Queensland Section) 13

Consolidated statements

Consolidated statement of changes in equity For the year ended 30 June 2026 Consolidated In thousands of dollars

Unrealised Gain Reserve

Hedging Reserve

Specific purpose donations/legacies

Retained Surplus

Total Equity

–

–

–

202,494

202,494

–

–

–

21,431

21,431

216

478

186

–

880

–

282

–

–

282

216

760

186

223,925

225,087

–

–

–

223,925

223,925

–

–

–

10,180

10,180

216

760

186

–

1,162

–

4,198

–

–

4,198

18

216

4,958

186

234,105

239,465

Note

Unrealised Gain Reserve

Hedging Reserve

Specific purpose donations/legacies

Retained Surplus

Total Equity

–

–

–

145,112

145,112

–

–

–

11,872

11,872

216

478

186

–

880

–

282

–

–

282

216

760

186

156,984

158,145

–

–

–

156,984

156,984

–

–

–

(3,004)

(3,004)

216

760

186

–

1,162

–

4,198

–

–

4,198

216

4,958

186

153,980

159,340

Note

RETAINED SURPLUS

Balance at 1 July 2024 Total comprehensive income Net surplus for the year RESERVES

Opening reserves Other comprehensive income Balance at 30 June 2025

18

RETAINED SURPLUS

Balance at 1 July 2025 Total comprehensive income Net surplus for the year RESERVES

Opening reserves Other comprehensive income Balance at 30 June 2026 Parent Entity In thousands of dollars RETAINED SURPLUS

Balance at 1 July 2024 Total comprehensive income Net surplus for the year RESERVES

Opening reserves Other comprehensive income Balance at 30 June 2025

18

RETAINED SURPLUS

Balance at 1 July 2025 Total comprehensive income Net surplus for the year RESERVES

Opening reserves Other comprehensive income Balance at 30 June 2026

18

The statement of changes in equity is to be read in conjunction with the following notes to the financial statements.

14 The furthest corner. The finest care.

Financial Report 2025/26

Consolidated statement of cash flows For the year ended 30 June 2026 2026

In thousands of dollars Note Cash flows from operating activities Cash receipts from customers Cash paid to suppliers and employees Net cash from (used in) operating activities

24

Cash flows from investing activities Acquisition of property, plant and equipment

2025

Consolidated

Parent Entity

Consolidated

Parent Entity

234,104 (209,341)

221,013 203,256

203,714 (183,295)

192,119 (177,394)

24,763

17,757

20,419

14,725 (38,208)

(16,294)

(16,294)

(38,307)

Dividend and distribution revenue

1,260

3,088

965

2,961

Non-operational grant and donation revenue

3,769

3,769

13,848

13,848

Increase in term deposits

3,007

–

–

–

(Increase) in capital investments

(6,000)

–

(16,000)

–

Net cash used in investing activities

(14,258)

(9,437)

(39,494)

(21,399)

Cash flows from financing activities Repayment of loan from bank

(8,146)

(8,146)

(2,271)

(2,271)

Proceeds of loan from bank

4,000

4,000

–

–

–

(5,726)

–

(5,914)

Repayment of loan from member Payment of lease liabilities

(702)

(702)

(490)

(490)

Net cash used in financing activities

(4,848)

(10,574)

(2,761)

(8,675)

Net increase/(decrease) in cash and cash equivalents held Cash and cash equivalents at 1 July 2025

5,657 20,347

(2,254) 17,001

(21,836) 42,183

(15,349) 32,350

26,004

14,747

20,347

17,001

Cash and cash equivalents at 30 June 2026

12

The statement of cash flows is to be read in conjunction with the following notes to the financial statements.

RFDS (Queensland Section) 15

Notes to the financial statements

Notes to the financial statements For the year ended 30 June 2026 1. Reporting entity The Royal Flying Doctor Service of Australia (Queensland Section) Limited (“the Service”) is a not-for-profit company limited by guarantee incorporated and domiciled in Australia. The address of the Consolidated Service’s registered office is 12 Casuarina Street, Brisbane Airport, QLD, 4008. The consolidated financial statements of the Service is at, and for the year ended 30 June 2026 and comprise the Service and its controlled entities (together referred to as the Consolidated Service).

2. Basis of accounting These financial statements are general purpose financial statements and comply with the recognition and measurement requirements in Australian Accounting Standards, the presentation requirements in those Standards as modified by AASB 1060 General Purpose Financial Statements – Simplified Disclosures or For-Profit and Not-for-Profit Entities and the Australian Charities and Not-for-profit Commission Act 2012. They have been prepared in accordance with Australian Accounting Standards – Simplified Disclosures made by Australian Accounting Standards Board. As the Consolidated Service is a not-for-profit entity, the terms ‘profit‘ and ‘loss‘ do not correctly describe the nature of the Consolidated Service’s activities. Accordingly, the words ‘operating surplus/(deficit)’ have been substituted for the terms ‘profit/(loss)’ prescribed in Accounting Standard AASB 101. At 30 June 2026, the Consolidated Service has net current assets of $27.310 million (2025: $12.464 million). As at 30 June 2026, the Consolidated Service has invested $22.523 million (2025: $16.134 million) in short term deposits which are held in the RFDS Foundation Limited (the Foundation) to support upcoming aeromedical aircraft purchases. These deposits are accessible within 12 months and classified as a current asset in the Foundation. The Foundation was established in January 2018 with the purpose of developing a long-term investment strategy that encourages social investment and since inception, all funds bequeathed to the Royal Flying Doctor Service in Queensland, unless nominated for a specific capital purpose, are invested in the Foundation. The Foundation subsequently invests the funds to support the long-term strategic initiatives of the Consolidated Service. The result of this $22.523 million investment in short-term deposits in the Foundation is a current asset deficiency in the Parent entity of $6.931 million (2025: current assets deficit of $10.140 million). As the Parent entity controls the Foundation, if required, the Foundation will provide the Parent entity access to these short-term deposits to meet its debts as and when they fall due. At 30 June 2026, the Parent entity had net assets of $159.340 million (2025: net assets of $158.145 million), generated a deficit of $3.004 million and net operating cash inflows of $16.393 million for the year ended 30 June 2026 (2025: surplus of $11.872 million and net operating cash inflows of $14.725 million). The Parent entity has begun a program in the 2026 financial year to dispose of non-core assets which include a leasehold property and three aircraft and their related equipment to provide short-term funding and reduce operating costs. These assets are disclosed in Assets Held for Sale and have a carrying value of $9.699 million. These assets are expected to be sold by 31 December 2026. The Directors have prepared the financial statements of the Parent entity and the Consolidated Service on a going concern basis, which contemplates continuity of normal business activities and the realisation of assets and the settlement of liabilities in the ordinary course of business They were authorised for issue by the Board of Directors on 24 September 2026. Details of the Service’s accounting policies, including changes during the year, are included in Note 29.

3. Functional and presentation currency These financial statements are presented in Australian dollars, which is the Service’s functional currency. The company is of a kind referred to in ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2026/183 and in accordance with that Instrument, all financial information presented in Australian dollars has been rounded to the nearest thousand unless otherwise stated.

16 The furthest corner. The finest care.

Financial Report 2025/26

Notes to the financial statements For the year ended 30 June 2026 continued 4. Use of judgements and estimates In preparing these financial statements in conformity with Australian Accounting Standards – Simplified Disclosure Requirements, management has made judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised prospectively.

(a) Judgements Information about critical judgements in applying accounting policies that have the most significant effect on the amounts recognised in the consolidated financial statements is included in the following notes: > Note 14 Assets held for sale > Note 29 (d) Property, plant and equipment – depreciation of aircraft and aircraft engines > Note 29 (e) Capital investments at fair value > Note 29 (h) Impairment > Note 29 (l ) Revenue and income During the year, the Service received $43.290 million in donations and bequests that are used to meet operational requirements for the Service.

5. Revenue 2026 In thousands of dollars

2025

Consolidated

Parent Entity

Consolidated

Parent Entity

88,993 3,035

88,993 -

89,104 2,709

89,104 –

Revenue from contracts with customers – AASB15 State Government fee for service Commonwealth Government operating grants Visitor Centre sales and admissions

806

31

992

119

Specific project operating grants

2,423

2,423

2,018

2,018

Other income

8,084

8,796

4,242

4,986

Revenue recognised under AASB 1058 Income of NFP entities Commonwealth Government operating grants

38,118

38,118

37,802

37,802

Specific project operating grants

13,251

10,411

12,924

10,155

154,710

148,772

149,791

144,184

Non operating revenue Capital grants

1,462

1,462

10,378

10,378

Capital donations

2,307

2,307

3,470

3,470

3,769

3,769

13,848

13,848

Capital grants and donations were received to fund current and future base and infrastructure projects in Bundaberg, Emerald and Mount Isa.

6. Operating deficit The parent entity provides services under contract with the Commonwealth and State Governments generally. There was a consolidated operating deficit for the year end 2026 of $26.436 million (2025: $17.451 million), parent entity operating deficit of $26.170 million (2025: $17.397million). This deficit has been funded via non-operational funding such as general donations, bequests and financial revenue. An operational efficiency program has been undertaken during the year as has a program to dispose of non-core assets. Capital funding and capital donations are used to enhance and acquire assets for service delivery. The consolidated surplus generated for the year end 2026 was $10.180 million (2025: $21.431 million). The parent entity deficit generated for the 2026 financial year was $3.004 million (2025: surplus $11.872 million).

RFDS (Queensland Section) 17

Notes to the financial statements

Notes to the financial statements For the year ended 30 June 2026 continued 7. Operating expenses The following are included in operating expenses: 2026

2025

Consolidated

Parent Entity

Consolidated

Parent Entity

Property lease expenses Depreciation on right of use assets

1,744 745

1,556 745

2,105 466

1,938 466

Depreciation

21,335

21,284

19,707

19,660

Aircraft related expenses

15,643

22,991

15,783

22,070

Aircraft fuel and oil

17,156

17,156

13,938

13,938

Health related expenses Administration expenses

82,337 27,093

72,599 25,938

71,970 27,101

63,072 23,484

Specific project operating expenses

14,459

12,148

16,084

13,526

634

525

88

3,427

181,146

174,942

167,242

161,581

In thousands of dollars

Other Total operating expenses

8. Personnel expenses Personnel expenses are included in health, administration and fundraising expenses. 2026

2025

Consolidated

Parent Entity

Consolidated

Parent Entity

Wages and salaries Other associated personnel expenses

78,709 893

71,311 858

71,539 1,384

65,364 1,223

Contributions to superannuation funds

10,350

9,428

8,780

8,068

Annual leave

7,980

7,386

7,300

6,778

808

780

919

828

98,740

89,763

89,922

82,261

Consolidated

Parent Entity

Consolidated

Parent Entity

Interest income Dividend and distribution income

1,745 1,260

1,000 4,038

1,763 965

1,213 2,962

Net gain on investments

2,585

460

1,460

(12)

Net foreign exchange gain

291

291

667

667

Finance income

5,881

5,789

4,855

4,830

Interest expense Finance costs

(1,570) (1,570)

(1,836) (1,836)

(1,869) (1,869)

(2,184) (2,184)

Net finance income recognised in profit and loss

4,311

3,953

2,986

2,646

In thousands of dollars

Long service leave

9. Net financing income 2026 In thousands of dollars

18 The furthest corner. The finest care.

2025

Financial Report 2025/26

Notes to the financial statements For the year ended 30 June 2026 continued 10. Inventories 2026 In thousands of dollars Finished goods Aviation spares

2025

Consolidated

Parent Entity

Consolidated

Parent Entity

558 5,775

62 5,775

838 5,097

37 5,097

6,333

5,837

5,935

5,134

Consolidated

Parent Entity

Consolidated

Parent Entity

3,805 33,775

3,740 32,154

13,767 24,440

13,753 23,473

37,580

35,894

38,207

37,226

11. Trade and other receivables 2026 In thousands of dollars Trade receivables Other receivables and prepayments*

2025

* The RFDS has entered into an agreement to sublease a new Aeromedical Precinct from Brisbane Airport. Brisbane Airport will construct the new facility which will be leased to the RFDS once the construction of those facilities has been completed. Upon the completion of those facilities, the terms of the agreement to sublease requires RFDS to pay Brisbane Airport $5 million residual representing rent in advance for the term of the lease. The Queensland Government has provided RFDS with $25 million in funding for the upfront rental payment of which $20 million has been previously remitted to Brisbane Airport. In thousands of dollars Trade receivables are analysed as follows: Not past due Past due 1 to 30 days

2026

2025

Consolidated

Parent Entity

Consolidated

Parent Entity

3,260 25

3,195 25

13,635 132

13,622 131 –

Past due 31 to 60 days

–

–

–

Past due 61 to 90 days

520

520

–

–

Total trade receivables

3,805

3,740

13,767

13,753

Consolidated

Parent Entity

Consolidated

Parent Entity

Bank balances Call deposits

16,526 6,466

8,276 6,466

4,909 15,433

1,563 15,433

Term deposits

3,007

–

–

–

5

5

5

5

26,004

14,747

20,347

17,001

12. Cash and cash equivalents 2026 In thousands of dollars

Cash on hand Cash and cash equivalents in the statement of cash flows

2025

The Consolidated Service aims to maintain a cash reserve of approximately $10 million to cover working capital commitments. In addition to this, The Consolidated Service had $117.045 million in capital commitments at 30 June 2026 (2025: $91.073 million) that had not been expended. These commitments relate to legally committed aircraft purchases and fit-out of $114.645 million and base development costs of $2.400 million which are expected to be fulfilled in the 2026/27 to 2028/29 financial years. In addition to these contractual commitments, there is a further $2.039 million in expected capital expenditure relating to aviation engineering equipment as well as medical equipment acquisitions. The commitments will be funded via existing cash and cash equivalent balances, future cash flows, contracted funding arrangements, fundraising and where necessary, external borrowings.

RFDS (Queensland Section) 19

Notes to the financial statements

Notes to the financial statements For the year ended 30 June 2026 continued 13. Capital investments 2026 In thousands of dollars

2025

Consolidated

Parent Entity

Consolidated

Parent Entity

22,523

–

16,134

–

36,934 59,457

1,899 1,899

29,183 45,317

1,439 1,439

Current Managed funds – at fair value Non-current Equities and managed funds – at fair value Total capital investments

Current capital investment The investment was created during the course of the previous financial year by the Consolidated Service and represents short-term investments to assist in meeting upcoming aeromedical aircraft purchases. The Consolidated Service uses an experienced fund manager to manage this investment with performance reviewed regularly by the Board of the Parent Entity and the RFDS Foundation Board. All transactions are carried out within the Consolidated Service’s Investment Policy Guidelines set by the Finance Risk and Audit Committee and the Investment Committee of RFDS Foundation.

Non-current capital investment Capital investments represent long-term investments held by the Consolidated Service to assist in funding long term capital expenditure programs. Significant expenditure will be required to maintain the Consolidated Service’s commitment to the delivery of health services including aircraft and other operational assets. In accordance with the long-term operational plans of the Consolidated Service, over the next five years, the income earned from these investments will be used to assist in meeting these capital expenditure requirements and to provide an income stream to fund health services.

Equity price risk Equity price risk arises from equity securities held by the Consolidated Service in listed equity investments and managed investment schemes. The Consolidated Service uses experienced fund managers to manage the market risk associated with movements in equity prices. The performance of the fund manager is reviewed regularly by the Board of the Parent Entity and the RFDS Foundation Board. All transactions associated with the Consolidated Service’s capital investments are carried out within the Consolidated Service’s Investment Policy Guidelines set by the Finance Risk and Audit Committee and the Investment Committee of RFDS Foundation.

14. Assets held for sale Consolidated

Leasehold Property

Aircraft and Related Equipment

Total

In thousands of dollars –

–

–

Cost

6,716

24,096

30,812

Depreciation

(20,304)

Balance in 1 July 2025

(2,407)

(17,897)

Impairment loss

(809)

–

(809)

Balance at 30 June 2026

3,500

6,199

9,699

Parent entity Balance in 1 July 2025

–

–

–

Cost

6,716

24,096

30,812

Depreciation

(2,407)

(17,897)

(20,304)

Impairment loss

(809)

–

(809)

Balance at 30 June 2026

3,500

6,199

9,699

20 The furthest corner. The finest care.

Financial Report 2025/26

Notes to the financial statements For the year ended 30 June 2026 continued Leasehold property In February 2026 management committed to a plan to sell a leasehold property in Mount Isa. This leasehold property is now disclosed as an asset held for sale. In previous periods this asset was classified as property, plant and equipment and depreciated over its useful life. The sale of this leasehold property is progressing, and a sale is expected by 31 December 2026. As a result of the leasehold property being classified as held for sale, the carrying value is the lower of its carrying value and its fair value less costs. The current market value for the property has been assessed at $3.500 million based on available market data and as a result an impairment loss of $0.809 million has been recognised. This loss is recognised as a non-operating expense.

Aircraft and related equipment In May 2026 management committed to a plan to dispose of three aircraft. These three aircraft are now disclosed as assets held for sale. In previous periods these assets were classified as property, plant and equipment and depreciated over their useful lives. The sale of the three aircraft is progressing with all three aircraft expected to be sold by 31 December 2026. As a result of the aircraft being classified as held for sale, the carrying value is the lower of its carrying value and its fair value less costs. The current market value for the three aircraft has been assessed through an external valuation as this valuation is higher than the current carrying value, no impairment loss has been recognised.

15. Property, plant and equipment Reconciliation of carrying amount Consolidated

Freehold Buildings on Leasehold Plant and Aircraft and Capital Works Land Freehold Land Property Equipment Related Equipment in Progress

Total

In thousands of dollars COST

743

17,735

20,010

10,260

279,278

25,439

353,465

Additions

–

60

7

768

7,839

7,620

16,294

Disposals

–

(411)

(458)

(239)

(2,110)

–

(3,218)

Transfers Reclassification to assets held for sale Balance at 30 June 2026

–

–

30,980

390

(414)

(31,387)

(431)

Balance in 1 July 2025

–

–

(6,716)

–

(24,096)

–

(30,812

743

17,384

43,823

11,179

260,497

1,672

335,298

ACCUMULATED DEPRECIATION

Balance in 1 July 2025

–

3,308

8,882

7,940

119,346

–

139,476

Depreciation

–

443

1,806

895

18,191

–

21,335

Disposals Reclassification to assets held for sale Balance at 30 June 2026

–

(200)

(386)

(212)

(2,017)

–

(2,815)

–

–

(2,407)

–

(17,897)

–

(20,304)

–

3,551

7,895

8,623

117,623

–

137,692

CARRYING AMOUNTS

At 1 July 2025

743

14,427

11,128

2,320

159,932

25,439

213,989

At 30 June 2026

743

13,833

35,928

2,556

142,874

1,672

197,606

RFDS (Queensland Section) 21

Notes to the financial statements

Notes to the financial statements For the year ended 30 June 2026 continued 15. Property, plant and equipment continued Reconciliation of carrying amount Parent Entity

Freehold Buildings on Leasehold Plant and Aircraft and Capital Works Land Freehold Land Property Equipment Related Equipment in Progress

Total

In thousands of dollars COST

743

17,735

19,951

9,944

279,282

25,434

353,089

Additions

–

60

7

768

7,839

7,620

16,294

Disposals

–

(411)

(458)

(239)

(2,110)

–

(3,218)

Transfers Reclassification to assets held for sale Balance at 30 June 2026

–

–

30,980

390

(414)

(31,387)

(431)

–

–

(6,716)

–

(24,096)

–

(30,812

743

17,384

43,764

10,863

260,501

1,667

334,922

Balance in 1 July 2025

ACCUMULATED DEPRECIATION

Balance in 1 July 2025

–

3,308

8,835

7,798

119,346

–

139,287

Depreciation

–

443

1,803

847

18,191

–

21,284

Disposals Reclassification to assets held for sale Balance at 30 June 2026

–

(200)

(386)

(212)

(2,017)

–

(2,815)

–

–

(2,407)

–

(17,897)

–

(20,304)

–

3,551

7,845

8,433

117,623

–

137,452

CARRYING AMOUNTS

At 1 July 2025

743

14,427

11,116

2,146

159,936

25,434

213,802

At 30 June 2026

743

13,833

35,919

2,430

142,878

1,667

197,470

16. Right-of-use assets Reconciliation of carrying amount Consolidated

Properties

Vehicles

Total

1,450 1,941

316 450

1,766 2,391

Depreciation

(426)

(319)

(745)

Balance at 30 June 2026

2,965

447

3,412

1,450 1,941

316 450

1,766 2,391

Depreciation

(426)

(319)

(745)

Balance at 30 June 2026

2,965

447

3,412

In thousands of dollars Balance at 1 July 2025 Addition to right-of-use assets

Parent Entity In thousands of dollars Balance at 1 July 2025 Addition to right-of-use assets

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Financial Report 2025/26

Notes to the financial statements For the year ended 30 June 2026 continued 17. Grants – Contract liabilities 2026

2025

Consolidated

Parent Entity

Consolidated

Parent Entity

Funds received in advance – Brisbane Base development Funds received in advance – Townsville Base development

25,000 15,000

25,000 15,000

25,000 15,000

25,000 15,000

Other grants – unspent funds

10,152

10,134

3,175

2,679

50,152

50,134

43,175

42,679

In thousands of dollars

The Consolidated Service has received funding from the Queensland State Government as upfront payments representing rent in advance for the Brisbane Base Development and contribution towards Townsville Base development costs. Other grants include a philanthropic donation for construction of staff accommodation in Charleville and a prepayment of a remote primary health care program with both expected to be spent in the 2027 financial year.

18. Capital and reserves Reconciliation of movement in capital and reserves Consolidated In thousands of dollars

Unrealised Gain Reserve

Retained Surplus

Total Equity

Balance at 1 July 2024

216

478

–

282

186

202,494

203,374

–

21,431

Balance at 30 June 2025

216

21,713

760

186

223,925

225,087

Balance at 1 July 2025 Total comprehensive income

216 –

760 4,198

186 –

223,925 10,180

225,087 14,378

Balance at 30 June 2026

216

4,958

186

234,105

239,465

Balance at 1 July 2024 Total comprehensive income

216 –

478 282

186 –

145,112 11,872

145,991 12,154

Balance at 30 June 2025

216

760

186

156,984

158,145

Balance at 1 July 2025

216

760

158,146

4,198

186 –

156,984

–

(3,004)

1,194

216

4,958

186

153,980

159,340

Total comprehensive income

Hedging Specific purpose Reserve donations / legacies

Parent Entity In thousands of dollars

Total comprehensive income Balance at 30 June 2026

Specific purpose donations/legacies reserve The Consolidated Service holds all donations and legacies received with a specific purpose nominated, in separate bank accounts or investments until the funds are required for the nominated purpose. Where specific purpose donations are received during the year, these amounts are transferred from accumulated funds to reserves. Where payments are made during the financial year from specific purpose donations received for a nominated purpose, this amount is transferred from reserves to accumulated funds.

Unrealised gain reserve The unrealised gain reserve includes the cumulative net change in the fair value of assets previously recognised as available for sale. Since adoption of AASB 9 Financials Instruments investments are no longer classified as available for sale, the Consolidated Service has classified these investments as fair value through profit and loss (FVTPL). On adoption of AASB 9 gains and losses on financial assets previously recognised in other comprehensive income are not transferred to profit and loss.

RFDS (Queensland Section) 23

Notes to the financial statements

Notes to the financial statements For the year ended 30 June 2026 continued Hedging reserve The hedging reserve comprises the effective portion of the cumulative net change in fair value of hedging instruments used in cash flow hedges pending subsequent recognition in profit or loss or directly included in the initial cost or other carrying amount of a non-financial asset or non-financial liability.

19. Trade and other payables 2026

2025

Consolidated

Parent Entity

Consolidated

Parent Entity

4,533 7,209

4,368 6,227

6,639 9,172

6,586 9,500

11,742

10,595

15,811

16,086

Consolidated

Parent Entity

Consolidated

Parent Entity

Current Liability for long service leave

2,909

2,849

2,713

2,670

Liability for annual leave

10,333

9,837

8,888

8,491

13,242

12,686

11,601

11,161

2,349

2,094

2,205

1,917

2,349

2,094

2,205

1,917

Consolidated

Parent Entity

Consolidated

Parent Entity

In thousands of dollars Trade payables Other payables and accrued expenses

20. Employee benefits 2026 In thousands of dollars

Non-current Liability for long service leave

2025

21. Loans and borrowings 2026 In thousands of dollars Non-current Loan from subsidiary Loan from bank

2025

–

10,968

–

16,694

25,749

25,749

29,895

29,895

25,749

36,717

29,895

46,589

The Consolidated Service has established two loan facilities with ANZ comprising limits of $10.000 and $26.667 million each. These facilities expire on 30 September 2027 and have interest rates of BBSY +0.4% and BBSY + 1.3% respectively. As at 30 June 2026, $25.749 million had been drawn down on these facilities. Under the terms of the loan agreement, the Group is required to comply with financial covenants. The first being an Interest Cover Ratio requirement where EBITDA is not to be less than two times interest expense for any 12-month period ending on a compliance date and secondly, a requirement that minimum cash holdings and investments are not to be less than $15.000 million at all times. These covenants are required to be tested on 30 June and 31 December each year. The Group was in compliance with all covenants at the testing dates.

24 The furthest corner. The finest care.

Financial Report 2025/26

Notes to the financial statements For the year ended 30 June 2026 continued 22. Lease liabilities 2026

2025

Consolidated

Parent Entity

Consolidated

Parent Entity

Current Lease liabilities

645

645

499

499

Non-current Lease liabilities

2,657

2,657

976

976

Total lease liabilities

3,302

3,302

1,475

1,475

In thousands of dollars

a) Amounts recognised in profit and loss The amounts recognised in the statement of profit and loss and other comprehensive income relating to leases where the Consolidated Service is a lessee are shown below. 2026 In thousands of dollars Interest expense on lease liabilities Breakdown of lease expenses included in Note 7 Expenses relating to short term leases

2025

Consolidated

Parent Entity

Consolidated

Parent Entity

138

138

72

72

1,744 1,882

1,556 1,694

2,105 2,177

1,938 2,010

The Consolidated Service leases a number of buildings and hangars under operating leases. The leases run for a period of one to 15 years, with an option to renew the lease after that date. None of these leases include contingent rentals.

23. Commitments The Consolidated Service had $117.045 million in future capital commitments at 30 June 2026 (2025: $91.073 million). These commitments relate to legally committed aircraft purchases and fit-out of $114.645 million and base development costs of $2.400 million which are expected to be fulfilled by the end of the 2031 financial year. The commitments will be funded via existing cash and cash equivalent balances, future cashflows, contracted funding arrangements, fundraising, investments and where necessary, external borrowings. In addition to these contractual commitments, it is expected that there will be a further $2.039 million outlay over the next 12 months in expected but not contractually committed capital expenditure relating to aviation engineering and medical equipment.

RFDS (Queensland Section) 25

Notes to the financial statements

Notes to the financial statements For the year ended 30 June 2026 continued 24. Reconciliation of cash flows from operating activities 2026

2025

Consolidated

Parent Entity

Consolidated

Parent Entity

Cash flows from operating activities Surplus for the period

10,180

(3,004)

21,431

11,871

Adjustments for: Depreciation

In thousands of dollars

21,335

21,284

19,707

19,660

ROU asset depreciation

745

745

466

466

Available for sale asset impairment

809

809

–

–

Realised gain/(loss) on sale of assets

(36)

(36)

(85)

(85)

Realised (gain)/loss on investments

(2,582)

(458)

(1,460)

12

Interest and dividend revenue

(1,260)

(3,088)

(965)

(2,962)

Non-operational grant funding

(3,769)

(3,769)

(13,848)

(13,848)

–

950

–

–

(4,035)

–

(764)

–

Non-cash distribution from member Non-cash bequest income Foreign exchange (gain)/loss

(290)

(290)

668

668

25,150

12,193

25,150

15,782

(Increase)/decrease in trade and other receivables (Increase)/decrease in inventories

625 (397)

1,332 (702)

(9,979) (1,101)

(6,997) (898)

Increase/(decrease) in trade and other payables

(4,069)

(4,542)

5,541

6,074

Increase/(decrease) in provisions and employee benefits

1,785

1,703

1,018

848

Increase/(decrease) in deferred government grants

5,722

7,773

(210)

(84)

Net cash from operating activities

24,763

16,393

20,419

14,725

Operating profit before changes in working capital and provisions

Cash flows from investing activities During the year, a distribution of $3,950,000 was received from the member. Of this amount, $3,000,000 was settled in cash and $950,000 was a non-cash adjustment to payable to member.

25. Related party disclosures a) Parent entity The parent entity within the group is Royal Flying Doctor Service of Australia (Queensland Section) Limited.

b) Controlled entities Ownership interest in controlled entities are set out in note 27.

c) Interests in joint venture entities The parent entity previously held a 50% interest (2025: 50%) in Mediflite Limited, a joint venture in conjunction with LifeFlight Australia Limited. This joint venture was wound up in December 2025. The parent entity has a 50% interest (2025: 50%) in Royal Flying Doctor Service (Eastern Operations) Limited, a joint venture in conjunction with Royal Flying Doctor Service (South Eastern Section). The joint venture entity is not operating and has no net assets.

d) Key management personnel compensation The key management personnel compensation was $3,280,119 for the year ended 30 June 2026 (2025: $3,789,304).

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Financial Report 2025/26

Notes to the financial statements For the year ended 30 June 2026 continued e) Transactions with related parties Controlled Entities Rental income for the year charged by Royal Flying Doctor Service of Australia (Queensland Section) Limited in relation to RFDS (QLD) Services Limited renting the Mobile Dental Unit

2026

2025

(216,000)

(216,000)

Balance outstanding at year end in relation to intercompany loan to (from) RFDS (QLD) Services Limited Aircraft maintenance charged to Royal Flying Doctor Service of Australia (Queensland Section) Limited from RFDS (QLD) Services Limited

(156,543)

582,450

7,348,804

6,291,599

Amount paid to Royal Flying Doctor Service of Australia (Queensland Section) Limited for Management and Board support from RFDS (QLD) Services Limited

(678,000)

(678,000)

Balance of loan owing from Royal Flying Doctor Service of Australia (Queensland Section) Limited to RFDS Foundation Limited*

(10,968,052)

(16,693,927)

Interest paid on loan owing from Royal Flying Doctor Service of Australia (Queensland Section) Limited to RFDS Foundation Limited*

266,076

314,299

Management fee charged by Royal Flying Doctor Service of Australia (Queensland Section) Limited to RFDS Foundation Limited

(45,000)

(42,567)

Bequest payable to RFDS Foundation Limited from Royal Flying Doctor Service of Australia (Queensland Section) Limited

32,178

(695,384)

Amount distributed to Royal Flying Doctor Service of Australia (Queensland Section) Limited from RFDS Foundation Limited under current spending policy

(3,950,000)

(2,866,819)

* On 7 December 2021, RFDS Foundation Limited entered into two loan facility agreements for $20,000,000 each with RFDS (Queensland Section) to support the ongoing capital commitments of the latter. These facilities are unsecured with a term of five and 10 years and with fixed interest rates of 1.4% and 2.08%, respectively. There were no drawdowns on this loan in the 2026 financial year on the five-year loan (2025: $0), with $4,971,751 (2025: $4,971,751) being repaid during the year. There were no drawdowns during the financial year on the 10-year loan (2025: $0) during the 2025/26 financial year with $754,125 (2025: $942,656) repaid during the year.

f) Transactions with Director related entities During the year, $3,407 (2025: $34,724) was paid to BDO a firm of which Mr Russell Postle (Director) is a consultant. Fees charged on an arm’s length basis for providing of consulting and corporate advisory services.

26. Subsequent events There has not arisen in the interval between the end of the financial year and date of this report any item, transaction or event of a material and unusual nature likely, in the opinion of the directors of the Service, to affect significantly the operations of the Consolidated Service, the results of those operations, or the state of affairs of the Consolidated Service, in future financial years.

27. Group entities Country of incorporation

Ownership interest 2026

Ownership interest 2025

RFDS (Qld) Services Limited RFDS Foundation Limited

Australia Australia

100% 100%

100% 100%

Royal Flying Doctor Service Pty Ltd

Australia

100%

100%

Significant controlled entities

28. Auditors’ remuneration 2026

Audit and review of financial statements Grant Acquittal Audit

2025

Consolidated

Parent Entity

Consolidated

Parent Entity

171,300 31,100

108,200 22,000

165,500 24,500

104,500 16,500

202,400

130,200

190,000

121,000

RFDS (Queensland Section) 27

Notes to the financial statements

Notes to the financial statements For the year ended 30 June 2026 continued 29. Material accounting policies The material accounting policies set out below have been consistently applied by the Consolidated Service to all periods presented in these consolidated financial statements.

a) Basis of measurement The consolidated financial statements have been prepared on the historical cost basis except for equities and managed funds which are measured at fair value through profit or loss.

b) Basis of consolidation Subsidiaries The Consolidated Service controls an entity when it is exposed to or has rights to variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Controlled entities are consolidated from the date on which control commences until the date control ceases. Intercompany transactions, balances and unrealised gains or losses on transactions between Consolidated Service entities are eliminated in preparing the consolidated financial statements. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Consolidated Service.

c) Foreign currency transactions Transactions in foreign currencies are translated at the foreign exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are translated to Australian dollars at the foreign exchange rate ruling at that date. Foreign exchange differences arising on translation are recognised in the surplus or deficit. Non-monetary assets and liabilities that are measured in terms of historical cost in a foreign currency are translated using the exchange rate at the date of the transaction.

d) Property, plant and equipment Owned assets Items of property, plant and equipment are stated at cost less accumulated depreciation (see below) and impairment losses. Where parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items of property, plant and equipment.

Subsequent costs The Consolidated Service recognises in the carrying amount of an item of property, plant and equipment the cost of replacing part of such an item when that cost is incurred if it is probable that the future economic benefits embodied within the item will flow to the Consolidated Service and the cost of the item can be measured reliably. All other costs are recognised in the surplus or deficit as incurred.

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Financial Report 2025/26

Notes to the financial statements For the year ended 30 June 2026 continued Depreciation With the exception of freehold land, depreciation is charged on a straight line or units of use method over the estimated useful lives of each part of an item of property, plant and equipment. Land is not depreciated. Expenditure on the major overhaul of aircraft engines is capitalised and depreciated over the estimated effective useful life of the engine. Depreciation rates used in the current and prior year are as follows: 2026

2025

Depreciation Rate

Depreciation Rate

2.5% 2.5% – 12.5%

2.5% 2.5% – 12.5%

Straight Line Straight Line

Furniture and fittings*

7.5% – 20%

7.5% – 20%

Straight Line

Computer equipment*

20% – 33%

20% – 33%

Straight Line

Medical equipment*

25%

25%

Straight Line

Radio equipment*

25%

25%

Straight Line

6.7% – 25%

6.7% – 25%

Straight Line

15%

15%

Straight Line

6,500 – 25,000 hours

6,500 – 25,000 hours

Class of Fixed Asset Buildings on freehold land Leasehold property

Tools and equipment* Motor vehicles* Aircraft and related equipment

Depreciation Method

WDV units of use based on number of hours flown

*Classified as plant and equipment

e) Financial assets Recognition and initial measurement Trade receivables and other receivables issued are initially recognised when they are originated. All other financial assets and financial liabilities are initially recognised when the Consolidated Service becomes a party to contractual provisions of the instrument. A financial asset (unless it is a trade receivable without a significant financing component) or financial liability is initially measured at fair value plus, for an item not at fair value through profit and loss (FVTPL) transaction costs that are directly attributable to its acquisition or issue. A trade receivable without a significant financing component is initially measured at the transaction price.

(i) Classification and subsequent measurement On initial recognition, a financial asset is classified and measured at: amortised cost; fair value through other comprehensive income (FVOCI) – debt investment; FVOCI – equity investment; or FVTPL. Financial assets are not reclassified subsequently from their initial recognition unless the Consolidated Service changes its business model for managing financial assets, in which case all affected financial assets are reclassified on the first day of the first reporting period following the change in the business model. A financial asset is measured at amortised cost if it meets both of the following conditions and is not designated as at FVTPL: > It is held within a business model whose objective is to hold assets to collect contractual cash flows; and > Its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. A debt investment is measured at FVOCI if it meets both of the following conditions and is not designated as FVTPL: > It is held within a business model whose objective is to hold assets to collect contractual cash flow and selling financial assets; and > Its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

RFDS (Queensland Section) 29

Notes to the financial statements

Notes to the financial statements For the year ended 30 June 2026 continued On initial recognition of an equity investment that is not held for trading, the Consolidated Service may irrevocably elect to present subsequent changes in the investment’s fair value in OCI. This election is made on an investmentby-investment basis. All financial assets not classified as measured at amortised cost or FVOCI as described above are measured at FVTPL. This includes all derivative financial assets. On initial recognition, the Consolidated Service may irrevocably designate a financial asset that otherwise meets the requirements to be measured at amortised cost or at FVOCI as at FVTPL if doing so eliminates or significantly reduces an accounting mismatch that would otherwise arise.

(ii) Financial assets — Business model assessment The Consolidated Service makes an assessment of the objective of the business model in which a financial asset is held at a portfolio level because this best reflects the way the business is managed and information is provided to management. The information considered includes: > the stated policies and objectives for the portfolio and the operation of those policies in practice. These include whether management’s strategy focuses on earning contractual interest income, maintaining a particular interest rate profile, matching the duration of the financial assets to the duration of any related liabilities or expected cash outflows or realising cash flows through the sale of the assets > how the performance of the portfolio is evaluated and reported to the Consolidated Service’s management > the risks that affect the performance of the business model (and the financial assets held within that business model) and how those risks are managed > the frequency, volume and timing of sales of financial assets, the reasons for such sales and expectations about future sales activity. Financial assets that are held for trading or are managed and whose performance is evaluated on a fair value basis are measured at FVTPL.

(iii) Financial assets — Assessment whether contractual cash flows are solely payments of principal and Interest For the purposes of this assessment, ‘principal’ is defined as the fair value of the financial asset on initial recognition. ‘Interest’ is defined as consideration for the time value of money and for the credit risk associated with the principal amount outstanding during a particular period of time and for other basic lending risks and costs (e.g. liquidity risk and administrative costs), as well as a profit margin. In assessing whether the contractual cash flows are solely payments of principal and interest, the Consolidated Service considers the contractual terms of the instrument. This includes assessing whether the financial asset contains a contractual term that could change the timing or amount of contractual cash flows such that it would not meet this condition. In making this assessment, the Consolidated Service considers: > contingent events that would change the amount or timing of cash flows > terms that may adjust the contractual coupon rate, including variable-rate features > prepayment and extension features > terms that limit the Consolidated Service’s claim to cash flows from specified assets (e.g. non-recourse features).

Subsequent measurement and gains and losses (iv) Financial assets at FVTPL These assets are subsequently measured at fair value. Net gains and losses, including interest or dividend income, are recognised in profit or loss.

(v) Financial assets at amortised cost These assets are subsequently measured at amortised cost using the effective interest method. The amortised cost is reduced by impairment losses. Interest income, foreign exchange gains and losses and impairment are recognised in profit or loss. Any gain or loss on derecognition is recognised in profit or loss.

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Financial Report 2025/26

Notes to the financial statements For the year ended 30 June 2026 continued (vi) Debt investment at FVOCI These assets are subsequently measured at fair value. Interest income calculated using the effective interest method, foreign exchange gains and losses and impairments are recognised in profit or loss. Other net gains and losses are recognised in OCI. On derecognition, gains and losses accumulated in OCI are reclassified to profit or loss.

(vii) Equity investment at FVOCI These assets are subsequently measured at fair value. Dividends are recognised as income in profit or loss unless the dividend clearly represents a recovery of part of the cost of the investment. Other net gains and losses are recognised in OCI and are never reclassified to profit or loss.

(viii) Derecognition The Consolidated Service derecognises a financial asset when the contractual rights to the cash flows from the financial asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all of the risks and rewards of ownership of the financial asset are transferred or in which the Consolidated Service neither transfers nor retains substantially all of the risks and rewards of ownership and it does not retain control of the financial asset.

f) Inventories Inventories are stated at the lower of cost and current replacement cost (aviation spares) and weighted average (finished goods). Current replacement cost is the cost the Consolidated Service would incur to acquire the asset on the reporting date. Costs are assigned on a first-in first-out principle (aviation spares) and include expenditure incurred in acquiring the inventories and bringing them to their existing location and condition.

g) Cash and cash equivalents Cash and cash equivalents comprise cash balances, short term bills and call deposits held for less than three months. Bank overdrafts that are repayable on demand and form an integral part of the Consolidated Service’s cash management are included as a component of cash and cash equivalents for the purpose of the statement of cash flows.

h) Impairment (i) Financial assets The Consolidated Service recognises loss allowances for Expected Credit Losses (ECLs) on: > financial assets measured at amortised cost > debt investments measured at FVOCI. The Consolidated Service measures loss allowances at an amount equal to lifetime ECLs, except for the following, which are measured at 12-month ECLs: > debt securities that are determined to have low credit risk at the reporting date > other debt securities and bank balances for which credit risk (i.e. the risk of default occurring over the expected life of the financial instrument) has not increased significantly since initial recognition. Loss allowances for trade receivables are always measured at an amount equal to lifetime ECLs. When determining whether the credit risk of a financial asset has increased significantly since initial recognition and when estimating ECLs, the Consolidated Service considers reasonable and supportable information that is relevant and available without undue cost or effort. This includes both quantitative and qualitative information and analysis, based on the Consolidated Service’s historical experience and informed credit assessment and including forward-looking information. The Consolidated Service assumes that the credit risk on a financial asset has increased significantly if it is more than 180 days past due. The maximum period considered when estimating ECLs is the maximum contractual period over which the Consolidated Service is exposed to credit risk.

RFDS (Queensland Section) 31

Notes to the financial statements

Notes to the financial statements For the year ended 30 June 2026 continued Measurement of ECLs ECLs are a probability-weighted estimate of credit losses. Credit losses are measured as the present value of all cash shortfalls (i.e. the difference between the cash flows due to the entity in accordance with the contract and the cash flows that the Consolidated Service expects to receive). ECLs are discounted at the effective interest rate of the financial asset.

Presentation of allowance for ECL in the statement of financial position Loss allowances for financial assets measured at amortised cost are deducted from the gross carrying amount of the assets.

(ii) Non-financial assets At each reporting date, the Consolidated Services reviews the carrying amounts of its non-financial assets (other than inventories and contract assets) to determine whether there is any indication of impairment. If any such indication exists, then the asset’s recoverable amount is estimated. For impairment testing, assets are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or CGUs. The recoverable amount of an asset or CGU is the greater of its value in use and its fair value less costs to sell. Vale in use is based on the estimated future cash flows, discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset of CGU. An impairment loss is recognised if the carrying amount of an asset or CGU exceeds its recoverable amount. Impairment losses are recognised in profit or loss. They are allocated first to reduce the carrying amount of any goodwill allocated to the CGU, and then to reduce the carrying amounts of the other assets in the CGU on a pro rata basis.

i) Employee benefits Defined contribution superannuation funds Obligations for contributions to defined contribution superannuation funds are recognised as an expense as incurred.

Long-term service benefits The Consolidated Service’s net obligation in respect of long-term service benefits is the amount of future benefit that employees have earned in return for their service in the current and prior periods. The obligation is calculated using expected future increases in wage and salary rates including related on-costs and expected settlement dates, and is discounted using the rates attached to Corporate Bonds at reporting date which have maturity dates approximating to the terms of the Consolidated Service’s obligations.

Wages, salaries and annual leave Liabilities for employee benefits for wages, salaries and annual leave that are expected to be settled within 12 months of the reporting date represent present obligations resulting from employees’ services provided to reporting date, are calculated at undiscounted amounts based on wage and salary rates that the Consolidated Service expects to pay as at reporting date including related on-costs, such as workers compensation insurance and superannuation.

j) Trade and other payables Trade and other payables are stated at their amortised cost. Trade payables are non-interest bearing and are normally settled on 30 day terms.

k) Loans and borrowings Loans and borrowings are recognised initially at fair value plus any directly attributable transaction costs. Subsequent to initial recognition, the financial liabilities are measured at amortised cost using the effective interest rate method.

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Financial Report 2025/26

Notes to the financial statements For the year ended 30 June 2026 continued l) Revenue and income Revenue recognition policy for revenue from contracts with customers (AASB 15) AASB 15 requires revenue to be recognised when control of a promised good or service is passed to the customer at an amount which reflects the expected consideration. The customer for these contracts is the funding provider. Revenue is recognised by applying a five-step model as follows: 1. Identify the contract with the customer 2. Identify the performance obligations 3. Determine the transaction price 4. Allocate the transaction price 5. Recognise revenue Generally, the timing of the payment for sale of goods and rendering of services corresponds closely to the timing of satisfaction of the performance obligations, however where there is a difference, it will result in the recognition of a receivable, contract asset or contract liability. None of the revenue streams of the Consolidated Service have any significant financing terms as there is less than 12 months between receipt of funds and satisfaction of performance obligations.

Services rendered Revenue for providing medical services and transportation of patients consists of a fixed and variable component (number of flying hours). The revenue is recognised when the service is provided.

Grant income Grant income arising from an agreement which contains enforceable and sufficiently specific performance obligations is recognised when control of each performance obligations is satisfied. The performance obligations are varied based on the agreement. Payment terms vary depending on the terms of the grant, cash is received upfront for some grants and on the achievement of certain payment milestones for others. Each performance obligation is considered to ensure that the revenue recognition reflects the transfer of control and within grant agreements there may be some performance obligations where control transfers at a point in time and others which have continuous transfer of control over the life of the contract. Where control is transferred over time, generally the input method being costs, time or flying hours incurred are deemed the to be the most appropriate methods to reflect the transfer of benefit.

Sale of goods Revenue from the sale of goods is recognised when the control of goods passes to the customer, which is at the time that the goods are physically transferred. None of the items sold have any warranty attached to them.

Revenue recognition policy for income of NFP entities (AASB 1058) Grant income Assets arising from grants in the scope of AASB 1058 are recognised at their fair value when the asset is received. These assets are generally cash but may be property which has been donated or sold to the Consolidated Service at significantly below its fair value. The Consolidated Service considers whether there are any related liability or equity items associated with the asset which are recognised in accordance with the relevant accounting standard. Once the assets and liabilities have been recognised then income is recognised for any difference between the recorded asset and liability.

RFDS (Queensland Section) 33

Notes to the financial statements

Notes to the financial statements For the year ended 30 June 2026 continued Donations Donations collected, including cash and goods for resale, are recognised as revenue when the Consolidated Service gains control of the asset.

Bequests Bequests are recognised when the company is notified of an impending distribution or the bequest is received, whichever occurs earlier. Bequests of shares or other assets are recognised at fair value, being the market value of the shares or asset at the date the Consolidated Service becomes legally entitled to the shares or asset.

Significant estimates and judgements relating to revenue For many of the grant agreements received, the determination of whether the contract includes sufficiently specific performance obligations was a significant judgement involving discussions with several parties at the Consolidated Service, review of the proposal documents prepared during the grant application phase and consideration of the terms and conditions. Grants received by the Consolidated Service have been accounted for under both AASB 15 and AASB 1058 depending on the terms and conditions and decisions made.

Net financing income Net financing income comprises interest receivable on funds invested, dividend and distribution income, changes in fair value of financial assets at fair value through profit or loss income and foreign exchange gains and losses. Interest income is recognised as it accrues, using the effective interest method. Dividend and distribution income is recognised on the date the Consolidated Service’s right to receive payment is established which in the case of quoted securities is ex-dividend date.

m) Expenses All expenditure is accounted for on an accrual basis. Health costs are those costs directly incurred to provide care to patients. Program costs are those costs directly incurred in providing programs to support the objectives of the Consolidated Service other than those specified. Administration costs are those incurred in connection with administration of the Consolidated Service and compliance with constitutional and statutory requirements.

n) Income tax The Royal Flying Doctor Service of Australia (Queensland Section), due to the nature of its activities, has been granted an exemption from the payment of income tax under Section 50 of the Income Tax Assessment Act 1997.

o) Goods and services tax Revenue, expenses and assets are recognised net of the amount of goods and services tax (GST), except where the amount of GST incurred is not recoverable from the Australian Taxation Office. In these circumstances, the GST is recognised as part of the cost of acquisition of the asset or as part of the expense. Receivables and payables are stated with the amount of GST included. The net amount of GST recoverable from, or payable to, the ATO is included as a current asset or liability in the balance sheet. Cash flows are included in the statement of cash flows on a gross basis. The GST components of cash flows arising from investing and financing activities which are recoverable from, or payable to, the ATO are classified as operating cash flows.

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Financial Report 2025/26

Notes to the financial statements For the year ended 30 June 2026 continued p) Foreign currency risk and derivative financial instruments The Consolidated Service uses derivative financial instruments such as forward foreign currency contracts to hedge its risks associated with the forward purchase of aircraft in USD. Derivative financial instruments are recognised initially at fair value and remeasured at each balance date. The gain or loss on re-measurement to fair value is recognised in profit or loss.

q) Leases At inception of a contract, the Consolidated Service assesses whether a lease exists – i.e. does the contract convey the right to control the use of an identified asset for a period of time in exchange for consideration. This involves an assessment of whether: > The contract involves the use of an identified asset – this may be explicitly or implicitly identified within the agreement. If the supplier has a substantive substitution right, then there is no identified asset. > The Consolidated Service has the right to obtain substantially all of the economic benefits from the use of the asset throughout the period of use. > The Consolidated Service has the right to direct the use of the asset i.e. decision-making rights in relation to changing how and for what purpose the asset is used. The Consolidated Service has elected not to separate non-lease components from lease components have accounted for all leases as a single component. At the lease commencement, the Consolidated Service recognises a right-of-use asset and associated lease liability for the lease term. The lease term includes extension periods where the Consolidated Service believes it is reasonably certain that the option will be exercised. The right-of-use asset is measured using the cost model where cost on initial recognition comprises of the lease liability, initial direct costs, prepaid lease payments, estimated cost of removal and restoration less any lease incentives. The right-of-use asset is depreciated over the lease term on a straight-line basis and assessed for impairment in accordance with the impairment of assets accounting policy. The right-of-use asset is assessed for impairment indicators at each reporting date. The lease liability is initially measured at the present value of the remaining lease payments at the commencement of the lease. The discount rate is the rate implicit in the lease, however where this cannot be readily determined then the Consolidated Service’s incremental borrowing rate is used. Subsequent to initial recognition, the lease liability is measured at amortised cost using the effective interest rate method. The lease liability is remeasured when there is a lease modification, change in estimate of the lease term or index upon which the lease payments are based (e.g. CPI) or a change in the Consolidated Service’s assessment of lease term. Where the lease liability is remeasured, the right-of-use asset is adjusted to reflect the remeasurement or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero. The Consolidated Service has elected to apply the exceptions to lease accounting for leases of low-value assets. For these leases, the Consolidated Service recognises the payments associated with these leases as an expense on a straight-line basis over the lease term.

RFDS (Queensland Section) 35

Notes to the financial statements

Notes to the financial statements For the year ended 30 June 2026 continued Details of leasing arrangements 1. Properties he Consolidated Service leases hangars and office buildings throughout the state for operational purposes; T these leases have varying terms dependent on the location from three to 15 years.

2. Vehicles he Consolidated Service leases vehicles which are used by medical staff to visit patients in regional areas, the T lease terms vary from two to five years and the lease payments are fixed during the lease term. Lease payments for operating leases, where substantially all the risks and benefits remain with the lessor are charged to profit or loss on a straight-line basis over the period of the lease..

r) Members’ liability The Royal Flying Doctor Service of Australia (Queensland Section) Limited is incorporated under the Corporations Act 2001 as a Consolidated Service limited by guarantee. In the event of the Consolidated Service being wound up, the liability of each of the members is limited to two dollars.

s) Assets held for sale Non-current assets are classified as held-for-sale if it highly probable that they will be recovered through sale rather than continuing use. Such assets are generally measured at the lower of their carrying value amount and fair value less costs to sell. Any impairment losses on initial classification as held-for-sale are recognised in profit and loss. Once classified as held-for-sale, property, plant and equipment are no longer amortised or depreciated.

t) New standards and interpretations issued The Consolidated Service has consistently applied the accounting policies set out in Note 29 to all periods presented in these financial statements. The Group has adopted amendments to AASB 1060 relating to the Classification of Liabilities as Current or NonCurrent and Non-Current Liabilities with Covenants. The amendments apply retrospectively. They clarify certain requirements for determining whether a liability should be classified as current or non-current and require new disclosures for loan liabilities that are subject to covenants within 12 months after the reporting period. Despite the change in policy, there is no retrospective impact on the comparative statement of financial position.

u) New standards and interpretations issued but not yet effective The Australian Accounting Standards and Interpretations that have recently been issued or amended but are not mandatory, have not been early adopted by the Consolidated Service for the annual reporting period ended 30 June 2026. The Consolidated Service has not yet assessed the impact of these new or amended Accounting Standards and Interpretations.

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Directors’ declaration

Directors’ declaration In the opinion of the directors of the Royal Flying Doctor Service of Australia (Queensland Section) (‘the Service’): (a) the Service is not publicly accountable in accordance with Australian Accounting Standards. (b) t he financial statements and notes that are set out on pages 12 to 36 are in accordance with the Australian Charities and Not-for-profits Commission Act 2012, including: (i) giving a true and fair view of the Consolidated Service’s and the parent entities financial position as at 30 June 2026, and of their performance, for the financial year ended on that date (ii) complying with Australian Accounting Standards – Simplified Disclosures and the Australian Charities and Not-for-profits Commission Regulations 2022 (c) there are reasonable grounds to believe that the Consolidated Service will be able to pay its debts as and when they become due and payable. Signed in accordance with a resolution of the directors: Dated at Brisbane 24th day of September 2026.

Georgina Somerset AM Chair

Russell Postle AM Director

RFDS (Queensland Section) 37

Independent auditor’s report

Independent auditor’s report To the members of Royal Flying Doctor Service of Australia (Queensland Section) Limited Opinion We have audited the Consolidated Financial Report of Royal Flying Doctor Service of Australia (Queensland Section) Limited (the Consolidated Service Financial Report). We have also audited the Financial Report of Royal Flying Doctor Service of Australia (Queensland Section) Limited (the Service Financial Report). In our opinion, each of the accompanying Consolidated Service Financial Report and the Service Financial Report of Royal Flying Doctor Service of Australia (Queensland Section) Limited are in accordance with Division 60 of the Australian Charities and Not-for-profits Commission (ACNC) Act 2012, including: i. giving a true and fair view of the Consolidated Service’s and of the Service’s financial positionas at 30 June 2026, and of their financial performance and their cash flows for the year ended on that date; and ii. complying with Australian Accounting Standards – Simplified Disclosures Framework and Division 60 of the Australian Charities and Not-for-profits Commission Regulations 2022 (ACNCR). The Financial Reports of the Consolidated Service and the Service comprise: i. Statements of financial position as at 30 June 2026; ii. Statements of profit or loss and other comprehensive income, Statements of changes in equity, and Statements of cash flows for the year then ended; iii. Notes, including material accounting policies. iv. Directors’ declaration. The Consolidated Service consists of Royal Flying Doctor Service of Australia (Queensland Section) Limited (the Service) and the entities it controlled at the year end or from time to time during the financial year.

Basis for opinions We conducted our audits in accordance with Australian Auditing Standards. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinions. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audits of the Financial Reports section of our report. We are independent of the Service in accordance with the auditor independence requirements of the ACNC Act 2012 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 audits of the Financial Reports in Australia. We have fulfilled our other ethical responsibilities in accordance with these requirements.

Other information Other Information is financial and non-financial information in Royal Flying Doctor Service of Australia (Queensland Section) Limited’s annual report which is provided in addition to the Financial Reports and the Auditor’s Report. The Directors are responsible for the Other Information. Our opinion on the Financial Reports does not cover the Other Information and, accordingly, we do not express an audit opinion or any form of assurance conclusion thereon. In connection with our audits of the Financial Reports, our responsibility is to read the Other Information. In doing so, we consider whether the Other Information is materially inconsistent with the Financial Reports or our knowledge obtained in the audits, or otherwise appears to be materially misstated. We are required to report if we conclude that there is a material misstatement of this Other Information, and based on the work we have performed on the Other Information that we obtained prior to the date of this Auditor’s Report we have nothing to report.

38 The furthest corner. The finest care.

Financial Report 2025/26

Independent auditor’s report continued Responsibilities of the Directors for the Financial Report The Directors are responsible for: i. Preparing the Financial Reports that give a true and fair view in accordance with Australian Accounting Standards – Simplified Disclosures Framework and the ACNC and ACNCR. ii. Implementing necessary internal control to enable the preparation of the Financial Reports that give a true and fair view and are free from material misstatement, whether due to fraud or error. iii. Assessing the Consolidated Service’s and the Service’s ability to continue as a going concern andwhether the use of the going concern basis of accounting is appropriate. This includes disclosing,as applicable, matters related to going concern and using the going concern basis of accountingunless they either intend to liquidate the Service or to cease operations, or have no realisticalternative but to do so.

Auditor’s responsibilities for the audit of the Financial Report Our objective is: i. to obtain reasonable assurance about whether the Financial Reports as a whole are free from material misstatement, whether due to fraud or error; and ii. to issue an Auditor’s Report that includes our opinions. 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. They 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 Reports. As part of an audit in accordance with Australian Auditing Standards, we exercise professional judgement and maintain professional scepticism throughout the audits. We also: i. Identify and assess the risks of material misstatement of the Financial Reports, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinions. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. ii. Obtain an understanding of internal control relevant to the audits in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the registered Consolidated Service’s and the Service’s internal control. iii. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Directors. iv. Conclude on the appropriateness of the Director’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Consolidated Service’s and the Service’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditor’s Report to the related disclosures in the Financial Reports or, if such disclosures are inadequate, to modify our opinions. Our conclusions are based on the audit evidence obtained up to the date of our Auditor’s Report. However, future events or conditions may cause the Consolidated Service and the Service to cease to continue as a going concern. v. Evaluate the overall presentation, structure and content of the Financial Reports, including the disclosures, and whether the Financial Reports represent the underlying transactions and events in a manner that achieves fair presentation. vi. Plan and perform the group audit to obtain sufficient appropriate audit evidence regarding the financial information of the entities or business units within the Consolidated Service as a basis for forming an opinion on the group financial report. We are responsible for the direction, supervision and review of the audit work performed for the purposes of the group audit. We remain solely responsible for our audit opinion. We communicate with the Directors of the Consolidated Service and Service regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

KPMG

Katie Allport Partner

Brisbane 24 September 2026

RFDS (Queensland Section) 39

Auditor’s independence declaration

Auditor’s independence declaration under Subdivision 60–C section 60– 40 of Australian Charities and Notfor-profits Commission Act 2012 To the Directors of the Royal Flying Doctor Service of Australia (Queensland Section) Limited I declare that, to the best of my knowledge and belief, in relation to the audit of Royal Flying Doctor Service of Australia (Queensland Section) Limited for the financial year ended 30 June 2026 there have been: i. no contraventions of the auditor independence requirements as set out in the Australian Charities and Not-for-profits Commission Act 2012 in relation to the audit; and ii. no contraventions of any applicable code of professional conduct in relation to the audit.

KPMG

Katie Allport Partner Brisbane 24 September 2026

40 The furthest corner. The finest care.

RFDS (Queensland Section)

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Royal Flying Doctor Service acknowledges the Aboriginal and Torres Strait Islander peoples as the first inhabitants of the nation and the Traditional Custodians of the land.

For more information visit flyingdoctor.com.au/qld