FINAL_ Annual Report FY25

ANNUAL REPORT 2025 Proudly supporting the self storage industry of Australia and New Zealand Rent A Space Casula SSAA Facility of the Year 2024 (>500 units)

SSAA ANNUAL REPORT 2025

About Us The SSAA represents more than 60% of self storage providers across Australasia, servicing over 900 members and their 1,500 self storage facilities.

Founded by a small yet passionate group of facility owners in 1990, the SSAA has evolved into the professional peak body for the self storage sector, providing education, advocacy and support for its members.

Swift Storage Yeppoon SSAA Facility of the Year 2024 (<150 units)

The SSAA has been positively shaping the self storage industry for more than 35 years. www.selfstorage.org.au

The Year in Review Advocacy

SSAA ANNUAL REPORT 2025

presentations and inspiring keynotes, with plenty of time for networking over a drop of

FY25 saw advocacy and regulatory

New Zealand's finest.

engagement at the top of the agenda.

In 2024, the SSAA was approached by the

To round out the year, we hosted four

Australian Competition and Consumer

sell-out networking events and facility tours

Commission (ACCC) as part of a review

across Auckland, Adelaide, Brisbane and

into the self storage sector. We welcomed

Melbourne, bringing local operators and

the opportunity to work collaboratively with

suppliers together to share ideas.

the regulator, addressing matters at an industry level in the spirit of good governance and with a commitment to continually lifting standards.

The insights shared by the ACCC provided a valuable opportunity to improve clarity, communication, and customer experience across key areas of self storage operations.

A major outcome of this process was the release of the 2025 Self Storage Agreement Suite - an updated version for Australia and a new standard for New Zealand.

Engagement

Intelligence Industry intelligence remains a critical pillar for the SSAA. Development of StorIntel - an industry-owned platform - has progressed, with a launch anticipated in the first half of 2026. StorIntel, delivered in collaboration with the Queensland University of Technology (QUT) and the Building 4.0 CRC, will equip members with deeper insights into market trends, operational benchmarks and emerging opportunities.

QUT has also contributed to the development of the SSAA AI-ChatBot,

Industry engagement between members

designed to enhance the member portal

and suppliers was at an all time high this

experience and improve response times.

year. GC24 broke records as 420

The ChatBot will also drive efficiencies

self storage enthusiasts descended upon

through automation and reduce the

Surfers Paradise over three dynamic days.

Association’s enquiry-based workload.

Industry leaders gathered to explore the themes of innovation, elevation and

The SSAA’s purpose-built database,

integration through keynotes, panels and

StorerCheck, has expanded its reporting

hands-on insights.

capabilities and now captures Facility Incident reporting. This enhancement allows

The biennial Ski Summit in Queenstown

incidents to be recorded and shared at the

saw Aussies and Kiwis come together on

facility level - rather than only by individual

the slopes for a few days of focused

storer - helping operators stay ahead of emerging risks.

SSAA ANNUAL REPORT 2025

Resources

The SSAA team is proud to have delivered

Member resources remain the backbone of

over the financial year. Many of the

our offering and this year we continued our efforts to support members in operational

an impactful program of work for members investments made in FY25 will continue to benefit members well into the future.

efficiency.

Importantly these achievements have all

In April we launched a monthly webinar

strengthen the financial sustainability of

series, SSAA Unlocked. The program, which has been well received, is designed to equip operators with the knowledge and tools they need to manage risk and enhance

been delivered while continuing to your Association.

These achievements would not be possible without the support of our industry.

operational performance.

In particular, we acknowledge the

Our member portal has also continued to

dedicated directors, Principal Partner Janus

expand in response to both regulatory change and evolving operator needs. In FY25, we released a comprehensive Arrears Management Guide, new Battery Guidelines and updated Facility Rules to further support day-to-day facility management.

investment and contribution of our International Australia, all our Major Partners and our dedicated SSAA team for their significant contribution across the year.

Most importantly, we thank our members Your continued support allows us to build a stronger future for the self storage sector.

Yours sincerely, Makala Ffrench Castelli Chief Executive Officer

Bass Coast Boat & Caravan Storage | SSAA Facility of the Year 2024 (150-500 units)

SSAA ANNUAL REPORT 2025

Governance The SSAA continues to benefit from the expertise of industry leaders, independent advisors and operational specialists who serve on its Board and Committees. Their guidance and oversight were pivotal throughout FY25, particularly in progressing the 2023–2025 SSAA Strategic Direction and advancing development of the new Self Storage Agreement Suites.

At the Annual General Meeting, Thomas Whalan was re-elected as Large Operator Representative and will serve a further three-year term.

The Board and the Audit, Finance & Risk Committee each met four times in FY25 ensuring effective governance and oversight. The Board held an additional workshop in November at GC24. The Audit, Finance & Risk Committee continues to meet and oversee the Association’s strong financial performance.

Regulatory engagement remained a key focus for the Board. In 2024, the ACCC approached the SSAA as part of its review into the self storage sector, highlighting the importance of maintaining strong advocacy and compliance frameworks.

With the Board’s support, the Association secured a positive outcome for members.

In FY25 the SSAA executed a contract for the sale of its Bundoora office in Melbourne for $840,000 (excluding GST), with settlement anticipated in FY26.

Following a move to remote working in 2021 the SSAA sub-let the office space, generating $26,000 annually in rental income. The Board determined the office was surplus to SSAA's needs and in light of market conditions, proceeded to sale. The Board will undertake an investment strategy refresh ahead of settlement, to ensure funds are managed for long-term benefit.

SSAA Directors (L-R): Aaron Alsweiler, Thomas Whalan, Makala Ffrench Castelli (CEO/Secretary), Adrian Wylde, Sam Kennard, Ned Coten, Lizzy Rutland, Anthony Regis, Michael Alafaci and Brent Hayes.

SSAA ANNUAL REPORT 2025

Financials Total Revenue for FY25 increased by 13.63%. This

Expense Distributibution

relative increase in revenue can be attributed to the increase in Convention Income growth.

Expenses increased by 7.93%, demonstrating prudential financial management.

Net assets grew by 7.08% reflecting the Net Profit

Other 3%

Administration 11%

Strategic Initiatives 5%

Staff 23%

for 2025.

As a non-profit entity, the SSAA seeks to invest the

Events 43%

majority of available funds into projects and services for the benefit of members. A profit of $144,580 has been retained for future requirements.

Member Services 12% Marketing 3%

Revenue

By Income Type

Revenue

By Income Stream Service 10%

Provisional 1%

Major Operator 12%

Events 41.5%

Membership 47.9% Large Operator 8%

Independent Operator 69%

Other 3.2%

Marketing 8.2%

Revenue

Expenses

Net Profit

Net Assets

$2.39M

$2.24M

$144K

$1.77M

FY24: $2.1M

FY24: $2.08M

FY24: $22.9K

FY24: $1.5M

SSAA ANNUAL REPORT 2025

Membership The SSAA had 901 members at 30 June 2025

Across FY25, 69 members resigned and

(FY24: 890) representing 1511 facilities (FY24:

50 let their membership lapse

1440) across Australasia. This represents an

(uncontactable / no payment).

increase in membership of 1.24% on FY24, despite ongoing industry consolidation.

Provisional

52 44

Supplier

103 93

During FY25, SSAA welcomed 120 new members and increased its supplier membership by 12.5%.

NZ Facility <50

36 34

COUNTRY OF ORIGIN

NZ Facility >50

71 71

85% 15%

AU Members (FY24: 87%) NZ Members (FY24: 13%)

225 222

AUS Facility <50

416 426

AUS Facility >50

770 691

Additional Facilities

901 890

Total Members Total Facilities 0

500

1511 1440 1000 1500

2000

ENGAGEMENT

Event Attendees

Member Portal Active Users

Member Portal Sessions

LinkedIn Followers

LinkedIn Impressions

623

1160

23K

1823

77K

FY24: 480

FY24: 1100

FY24: 19K

FY24: 1605

FY24: 66K

SSAA ANNUAL REPORT 2025

Member Benefits FY25 saw the delivery of new resources, events and services designed to strengthen member success. Some highlights included: Responded to more than 1,260 member

Monitored sector performance and

enquiries by phone and over 360 via

delivered critical market intelligence

the SSAA Help Desk, providing timely

through the State of the Industry 2024.

legal and operational support.

Expanded StorerCheck’s reporting

Facilitated more than 162k checks and

capabilities to include facility-level

reported over 1,260 new incidents

insights.

through StorerCheck, strengthening industry security and transparency.

Published the latest industry news and thought leadership through six editions

Advocated on behalf of members and

of Insider Magazine, 11 issues of

industry through ongoing engagement

STOReFLASH and regular blog posts.

with the ACCC.

Bolstered industry resources and tools

Released the 2025 updated AU and

with the release of Battery Guidelines,

new NZ Self Storage Agreement Suites

updated facility rules and a

to ensure compliance with the latest

comprehensive Arrears Management

industry standards.

Guide.

Connected 222 local owners, operators,

Launched SSAA Unlocked, a webinar

and suppliers across four cities through

series designed to equip operators

networking events and facility tours.

with the tools they need to manage

Delivered our largest Convention to date, welcoming 420 delegates to

risk, drive operational efficiency and uphold best practice.

GC24 and 74 at our Ski Summit in New

Designed a ChatBot to improve user

Zealand.

experience in the member portal and

Worked in collaboration with QUT and

reduce enquiry-based workload.

the Building 4.0 CRC to progress StorIntel industry intelligence platform.

Agreement Suites

SSAA Unlocked

GC24 Convention

Supplier Guide

Networking State of the Industry 2024 Series

SSAA ANNUAL REPORT 2025

Our Strategy

1

2

We advocate for the industry at large and on behalf of our members.

Key priorities:

3

We work to connect, nurture and develop the self storage industry.

Key priorities:

Delivering accurate and timely industry

Creating value for our members

research and insights

through regular engagement

Inform industry stakeholders about the

Connect our members and

profile and potential of self storage

stakeholders to build and maintain

Track sector performance and key

industry relationships

industry metrics

Communicate effectively to ensure

Focus our advocacy agenda on high

members are well-informed

impact issues

Consult with our members to provide relevant services, resources

We support our members by sharing knowledge, resources and insights.

Key priorities: Enhance industry understanding of self storage operations Offer timely and accurate legal and operational support Embed good governance practices across the industry Help our members adapt to industry innovation

Created by the industry for the industry, the SSAA exists to help members’ businesses thrive by providing advocacy, education and support. As the peak body for the sector, the SSAA seeks to inspire excellence and engagement across the self storage industry.

and advice

SSAA ANNUAL REPORT 2025

Looking Forward In the year ahead we will see the launch of several key projects already in the pipeline, including StorIntel and the SSAA ChatBot. A number of flagship events are on the horizon with engagement among members and suppliers at an all time high.

We look forward to delivering our inaugural Self Storage Week at SYD25 this summer, followed by the biennial SSAA Summit in New Zealand next Winter - plus we're planning to take SSAA members on tour to international events across the year.

Our recent Trans-Tasman networking series and facility tours were very well received, and we plan to take this program on the road again next year.

The timely delivery of research, resources and tools designed to support operators will continue to drive our annual program.

The 2025 SSAA Industry Snapshot will explore high-impact issues such as crime and security, while maintaining a strong focus on technology and innovation to support operational excellence and growth.

Advocacy will remain central to the SSAA’s mission, with continued emphasis on navigating the evolving and increasingly complex landscape of development and compliance.

Your association is well placed and well resourced to continue its support and stewardship of self storage across Australasia.

SYD25

Convention

STORINTEL Data Analytics

SNAPSHOT 2025 Industry insights

ON TOUR

International self storage tours

Valued Partners The SSAA acknowledges the ongoing support of industry, including principal partner Janus International Australia and major partners VISY Boxes & More, Southwell

Lifts

&

Hoists,

Storman,

Storco, Stellar Storage Containers and PTI

Security,

advertisers

Convention and

all

sponsors,

those

who

contributed their expertise for the benefit of members throughout the year.

AU 1800 067 313 NZ 0800 444 356

Supporting Self Storage www.selfstorage.com.au

Self Storage Association of Australasia Limited ABN 23 050 341 725 Financial report For the year ended 30 June 2025

Self Storage Association of Australasia Limited ABN 23 050 341 725 DIRECTORS’ REPORT FOR THE YEAR ENDED 30 JUNE 2025 Your directors present their report on the Company for the financial year ended 30 June 2025.

Directors Directors have been in office since the start of the financial year to the date of this report unless otherwise stated.

The details of the directors in office at any time during, or since the end of, the year are: Michael Alafaci Title Experience

Director and Chairman 19 years of experience in the self-storage industry

Edward Coten Title Experience

Director 20 years of experience in the self-storage industry

Thomas Whalan Title Experience

Director 13 years of experience in the self-storage industry

Aaron Alsweiler Title Experience

Director 23 years of experience in the self-storage industry

Adrian Wylde Title Experience

Director 14 years of experience in the self-storage industry

Anthony Regis Title Experience

Director 23 years of experience in the self-storage industry

Brent Hayes Title Experience

Director 17 years of experience in the self-storage industry

Sam Kennard Title Experience

Director 34 years of experience in the self-storage industry

Elizabeth Rutland Title Experience

Director 22 years of experience in the self-storage industry

Company Secretary The following persons held the position of company secretary at the end of the financial year: Makala Castelli Principal Activities The principal activities of the Self Storage Association of Australasia Limited during the financial year were providing education, advocacy and support to help members improve their businesses.

No significant change in the nature of these activities occurred during the year.

Page 1

Self Storage Association of Australasia Limited ABN 23 050 341 725 DIRECTORS’ REPORT FOR THE YEAR ENDED 30 JUNE 2025 Meetings of Directors During the financial year, 4 meetings of directors (including committees of directors) were held. Attendances by each director during the year were as follows: Directors

Board Meetings Held 2024 / 2025 While a Director

Meetings Attended

5 5 5 5 5 4 5 5 5

5 3 4 5 5 3 5 5 4

Michael Alafaci Edward Coten Thomas Whalan Aaron Alsweiler Adrian Wylde Anthony Regis Brent Hayes Sam Kennard Elizabeth Rutland Review of Operations

During the year, the Company continued to engage in its principal activity, the results of which are disclosed in the attached financial statements.

The profit after income tax of the Company for the financial year ended 30 June 2025 amounted to $144,580 (2024: $22,937).

Objectives The Company's objective is to: • • •

Promote excellence and high standards of service in the self storage industry and associated businesses, by its members and the industry generally; Support members through facilitating information exchange, advocacy to government and regulatory bodies, education, and member benefits and services; and Engage members through events and other activities, and foster a strong, supportive network of like-minded businesses.

Strategy To achieve these objectives, the Company has adopted the following strategies: Advocacy: undertake a range of research, insights and advocacy projects on behalf of members.

Support: develop and deliver a range of member benefits, services and education programs that support our members and promote operational excellence.

Engagement: deliver a communications and events program that engages and connects our members and the broader industry.

Performance Measures The following measures are used within the Company to monitor performance: •

The CEO provided regular reports to Directors regarding the activities of the Company and how tasks undertaken by the Company's administrative team contributed to the effective delivery of core services to members. This process allowed Directors to ensure that activities undertaken by staff were supportive of the timely attainment of the Company's strategic and financial objectives.

Page 2

Self Storage Association of Australasia Limited ABN 23 050 341 725 DIRECTORS’ REPORT FOR THE YEAR ENDED 30 JUNE 2025 Members’ Guarantee Self Storage Association of Australasia Limited is a Company limited by guarantee. In the event of, and for the purpose of winding up of the Company, the amount capable of being called up from each member in the year prior to the winding up, is limited to $50, subject to the provisions of the company's constitution.

At 30 June 2025 the collective liability of members was $75,550 (2024: $71,900).

Significant Changes in the State of Affairs No significant changes in the Company’s state of affairs occurred during the financial year.

Events Subsequent to the End of the Reporting Period No matters or circumstances have arisen since the end of the financial year that significantly affected or may significantly affect the operations of the Company, the results of those operations or the state of affairs of the Company in future financial years.

Likely Developments and Expected Results of Operations The Company will continue to pursue its strategic objectives to provide supporting services to the members in the self storage industry.

Environmental Regulation The Company’s operations are not regulated by any significant environmental regulation under a law of the Commonwealth or of a state or territory.

Dividends No dividends were paid or declared during the financial year.

Indemnification of Officers No indemnities have been given or insurance premiums paid, during or since the end of the financial year, for any person who is or has been an officer or auditor of the Company.

Proceedings on Behalf of Company No person has applied for leave of court to bring proceedings on behalf of the Company or intervene in any proceedings to which the Company is a party for the purpose of taking responsibility on behalf of the Company for all or any part of those proceedings.

The Company was not a party to any such proceedings during the year.

Page 3

AUDITOR’S INDEPENDENCE DECLARATION UNDER SECTION 307C OF THE CORPORATIONS ACT 2001 TO THE DIRECTORS OF SELF STORAGE ASSOCIATION OF AUSTRALASIA LIMITED In accordance with section 307C of the Corporations Act 2001, I am pleased to provide the following declaration of independence to the directors of Self Storage Association of Australasia Limited.

As the lead audit director for the audit of the financial report of Self Storage Association of Australasia Limited for the year ended 30 June 2025, I declare that, to the best of my knowledge and belief, there have been no contraventions of: i. ii.

the auditor independence requirements of the Corporations Act 2001 in relation to the audit; and any applicable code of professional conduct in relation to the audit.

onefocus Audit & Assurance Pty Ltd ACN 163 796 147

Scott Phillips Director

Signed in Melbourne this 8h day of October 2025

Page 5

Liability limited by a scheme approved under Professional Standards Legislation Office: Level 24, 530 Collins Street, Melbourne VIC 3000 | Mail: PO Box 539, Collins Street West, VIC 8007 | Tel: (03) 9861 6100 | www.onefocus.com.au

Self Storage Association of Australasia Limited ABN 23 050 341 725 STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2025 Note

2025

2024

$

$

2,387,889

2,101,474

Accounting & audit fees

(16,934)

(14,370)

Administrative expenses

(160,703)

(179,760)

Advertising & marketing expenses

(169,229)

(137,863)

(4,725)

(12,866)

Convention expenses

(971,425)

(701,717)

Depreciation and amortisation expenses

(22,408)

(30,963)

Industry research expenses

(104,237)

(207,301)

Membership events & training expenses

(15,743)

(39,775)

Membership services expenses

(180,280)

(105,915)

Office maintenance expenses

(34,929)

(35,259)

Revenue

2

Board & governance expenses

Other finance costs

(20,853)

(23,123)

Staff costs

(525,314)

(542,677)

(7,769)

(21,027)

(2,234,549)

(2,052,616)

Travel expenses Total Expense

3

Profit before income tax

153,340

48,858

(8,760)

(25,921)

144,580

22,937

Revaluation of land

8,664

109,917

Total other comprehensive income for the year

8,664

109,917

Total comprehensive income for the year attributable to the members of the Company

153,244

132,854

Income tax expense

4

Profit for the year Other comprehensive income

The accompanying notes form part of these financial statements.

Page 6

Self Storage Association of Australasia Limited ABN 23 050 341 725 STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2025 Note

2025

2024

$

$

ASSETS CURRENT ASSETS Cash and cash equivalents

6

444,661

400,277

Trade and other receivables

7

129,603

36,841

Other assets

8

189,744

417,830

Financial assets

9

1,000,000

838,126

1,764,008

1,693,074

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

10

919,784

933,528

Intangible assets

11

-

-

919,784

933,528

2,683,792

2,626,602

TOTAL NON-CURRENT ASSETS TOTAL ASSETS LIABILITIES CURRENT LIABILITIES Trade and other payables

12

137,736

276,143

Other liabilities

13

648,399

615,522

Current tax liabilities

14

24,580

25,537

Provisions

15

36,297

32,378

847,012

949,580

32,450

25,936

TOTAL NON-CURRENT LIABILITIES

32,450

25,936

TOTAL LIABILITIES

879,462

975,516

1,804,330

1,651,086

415,745

407,081

Retained earnings

1,388,585

1,244,005

TOTAL EQUITY

1,804,330

1,651,086

TOTAL CURRENT LIABILITIES NON-CURRENT LIABILITIES Provisions

15

NET ASSETS

EQUITY Asset revaluation reserve

16

The accompanying notes form part of these financial statements.

Page 7

Self Storage Association of Australasia Limited ABN 23 050 341 725 STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 2025 Asset revaluation reserve $

Retained earnings $

Total $

Balance at 1 July 2023

297,164

1,221,068

1,518,232

Revaluation of assets Profit after income tax expense for the year Balance at 30 June 2024

109,917 407,081

22,937 1,244,005

109,917 22,937 1,651,086

Revaluation of assets Profit after income tax expense for the year Balance at 30 June 2025

8,664 415,745

144,580 1,388,585

8,664 144,580 1,804,330

The accompanying notes form part of these financial statements.

Page 8

Self Storage Association of Australasia Limited ABN 23 050 341 725 STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2025 Note

2025

2024

$

$

CASH FLOWS FROM OPERATING ACTIVITIES Receipts from customers Payments to suppliers and employees Interest received Income tax paid Net cash provided by operating activities

2,535,918 (2,306,962) 22,624 (45,322) 206,258

2,306,876 (2,144,939) 29,344 (6,829) 184,452

CASH FLOWS FROM INVESTING ACTIVITIES Payments for financial assets Payments for property, plant and equipment Net cash used in investing activities

(161,874) (161,874)

(23,455) (16,500) (39,955)

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

44,384 400,277

144,497 255,780

444,661

400,277

Cash and cash equivalents at end of year

6

The accompanying notes form part of these financial statements.

Page 9

Self Storage Association of Australasia Limited ABN 23 050 341 725 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 The financial statements and notes represent those of Self Storage Association of Australasia Limited (the “Company”).

The financial statements were authorised for issue by the directors of the Company on the same date as the directors signed the Director’s Declaration.

Basis of Preparation The financial statements are general purpose financial statements that have been prepared in accordance with Australian Accounting Standards – Simplified Disclosures of the Australian Accounting Standards Board and the Corporations Act 2001. The company is a for-profit entity for financial reporting purposes under Australian Accounting Standards.

Australian Accounting Standards set out accounting policies that the Australian Accounting Standards Board has concluded would result in financial statements containing relevant and reliable information about transactions, events and conditions. Material accounting policies adopted in the preparation of the financial statements are presented below and have been consistently applied unless stated otherwise.

The financial statements, except for the cash flow information, have been prepared on an accrual basis and are based on historical costs, modified, where applicable, by the measurement at fair value of selected non-current assets, financial assets and financial liabilities. The amounts presented in the financial statements are in Australian Dollars and have been rounded to the nearest dollar.

NOTE 1: MATERIAL ACCOUNTING POLICY INFORMATION a.

Income Tax The income tax expense (income) for the year comprises current income tax expense (income) and deferred tax expense (income).

Current income tax expense charged to profit or loss is the tax payable on taxable income for the current period. Current tax liabilities (assets) are measured at the amounts expected to be paid to (recovered from) the Australian Tax Office (ATO) using tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Deferred income tax expense reflects movements in deferred tax asset and deferred tax liability balances during the year as well as unused tax losses.

Current and deferred income tax expense (income) is charged or credited outside profit or loss when the tax relates to items that are recognised outside profit or loss or arising from a business combination.

Except for business combinations, no deferred income tax is recognised from the initial recognition of an asset or liability where there is no effect on accounting or taxable profit or loss.

Deferred tax assets and liabilities are calculated at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled, and their measurement also reflects the manner in which management expects to recover or settle the carrying amount of the related asset or liability. With respect to non-depreciable items of property, plant and equipment measured at fair value and items of investment property measured at fair value, the related deferred tax liability or deferred tax asset is measured on the basis that the carrying amount of the asset will be recovered entirely through sale.

When an investment property that is depreciable is held by the Company in a business model whose objective is to consume substantially all of the economic benefits embodied in the property through use over time (rather than through sale), the related deferred tax liability or deferred tax asset is measured on the basis that the carrying amount of such property will be recovered entirely through use.

Deferred tax assets relating to temporary differences and unused tax losses are recognised only to the extent that it is probable that future taxable profit will be available against which the benefits of the deferred tax asset can be utilised, unless the deferred tax asset relating to temporary differences arises from the initial recognition of an asset or liability in a transaction that: – is not a business combination; and – at the time of the transaction, affects neither accounting profit nor taxable profit (tax loss).

Page 10

Self Storage Association of Australasia Limited ABN 23 050 341 725 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 NOTE 1: MATERIAL ACCOUNTING POLICY INFORMATION a.

Income Tax (Continued) Where temporary differences exist in relation to investments in subsidiaries, branches, associates and joint ventures, deferred tax assets and liabilities are not recognised where the timing of the reversal of the temporary difference can be controlled and it is not probable that the reversal will occur in the foreseeable future.

Current tax assets and liabilities are offset where a legally enforceable right of set-off exists and it is intended that net settlement or simultaneous realisation and settlement of the respective asset and liability will occur. Deferred tax assets and liabilities are offset where: (i) a legally enforceable right of setoff exists; and (ii) the deferred tax assets and liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities, where it is intended that net settlement or simultaneous realisation and settlement of the respective asset and liability will occur in future periods in which significant amounts of deferred tax assets or liabilities are expected to be recovered or settled.

b.

Fair Value of Assets and Liabilities The Company measures some of its assets and liabilities at fair value on either a recurring or nonrecurring basis, depending on the requirements of the applicable Accounting Standard.

Fair value is the price the Company would receive to sell an asset or would have to pay to transfer a liability in an orderly (ie unforced) transaction between independent, knowledgeable and willing market participants at the measurement date.

As fair value is a market-based measure, the closest equivalent observable market pricing information is used to determine fair value. Adjustments to market values may be made having regard to the characteristics of the specific asset or liability. The fair values of assets and liabilities that are not traded in an active market are determined using one or more valuation techniques. These valuation techniques maximise, to the extent possible, the use of observable market data.

To the extent possible, market information is extracted from either the principal market for the asset or liability (ie the market with the greatest volume and level of activity for the asset or liability) or, in the absence of such a market, the most advantageous market available to the Company at the end of the reporting period (ie the market that maximises the receipts from the sale of the asset or minimises the payments made to transfer the liability, after taking into account transaction costs and transport costs).

For non-financial assets, the fair value measurement also takes into account a market participant’s ability to use the asset in its highest and best use or to sell it to another market participant that would use the asset in its highest and best use.

The fair value of liabilities and the Company’s own equity instruments (excluding those related to sharebased payment arrangements) may be valued, where there is no observable market price in relation to the transfer of such financial instruments, by reference to observable market information where such instruments are held as assets. Where this information is not available, other valuation techniques are adopted and, where significant, are detailed in the respective note to the financial statements.

c.

Property, Plant and Equipment Each class of property, plant and equipment is carried at cost or fair value less, where applicable, any accumulated depreciation and impairment.

Land and buildings Freehold land and buildings are shown at their fair value (being the amount for which an asset could be exchanged between knowledgeable, willing parties in an arm’s length transaction), based on periodic, but at least triennial, valuations by external independent valuers, less accumulated depreciation for buildings.

Page 11

Self Storage Association of Australasia Limited ABN 23 050 341 725 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 NOTE 1: MATERIAL ACCOUNTING POLICY INFORMATION c.

Property, Plant and Equipment (Continued) Land and buildings (Continued) Increases in the carrying amount arising on revaluation of land and buildings are credited to a revaluation surplus in other comprehensive income. Decreases that offset previous increases of the same asset are recognised against revaluation surplus directly in other comprehensive income; all other decreases are recognised in profit or loss.

Any accumulated depreciation at the date of revaluation is eliminated against the gross carrying amount of the asset and the net amount is restated to the revalued amount of the asset.

Plant and equipment Plant and equipment are measured on a cost basis and are therefore carried at cost less accumulated depreciation and any accumulated impairment losses. In the event the carrying amount of plant and equipment is greater than the estimated recoverable amount, the carrying amount is written down immediately to the estimated recoverable amount and impairment losses are recognised either in profit or loss or as a revaluation decrease if the impairment losses relate to a revalued asset. A formal assessment of recoverable amount is made when impairment indicators are present (refer to Note 1(e) for details of impairment).

The cost of fixed assets constructed within the Company includes the cost of materials, direct labour, borrowing costs and an appropriate proportion of fixed and variable overheads.

Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably. All other repairs and maintenance are recognised as expenses in profit or loss during the financial period in which they are incurred.

Depreciation The depreciable amount of all fixed assets, including buildings and capitalised lease assets but excluding freehold land, is depreciated on a straight-line basis over the asset’s useful life to the Company commencing from the time the asset is held ready for use. Leasehold improvements are depreciated over the shorter of either the unexpired period of the lease or the estimated useful lives of the improvements. Depreciation is recognised in profit or loss.

The estimated useful lives used for each class of depreciable asset are shown below: Class of Fixed Asset Buildings Office Equipment Computer Software

Useful life 40 years 2 -15 years 4 – 5 years

The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at the end of each reporting period.

An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount.

Gains and losses on disposals are determined by comparing proceeds with the carrying amount. These gains or losses are included in profit or loss in the period in which they arise. When revalued assets are sold, amounts included in the revaluation surplus relating to that asset are transferred to retained earnings.

Page 12

Self Storage Association of Australasia Limited ABN 23 050 341 725 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 NOTE 1: MATERIAL ACCOUNTING POLICY INFORMATION d.

Financial Instruments Initial recognition and measurement Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions to the instrument. For financial assets, this is the date that the Company commits itself to either the purchase or sale of the asset (ie trade date accounting is adopted).

Financial instruments (except for trade receivables) are initially measured at fair value plus transaction costs, except where the instrument is classified “at fair value through profit or loss”, in which case transaction costs are expensed to profit or loss immediately. Where available, quoted prices in an active market are used to determine fair value. In other circumstances, valuation techniques are adopted.

Trade receivables are initially measured at the transaction price if the trade receivables do not contain a significant financing component or if the practical expedient was applied as specified in AASB 15: Revenue from Contracts with Customers.

Classification and subsequent measurement Financial liabilities Financial liabilities are subsequently measured at: – amortised cost; or – fair value through profit or loss.

A financial liability is measured at fair value through profit or loss if the financial liability is: – a contingent consideration of an acquirer in a business combination to which AASB 3: Business Combinations applies; – held for trading; or – initially designated as at fair value through profit or loss.

All other financial liabilities are subsequently measured at amortised cost using the effective interest method.

The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating interest expense over in profit or loss over the relevant period.

The effective interest rate is the internal rate of return of the financial asset or liability. That is, it is the rate that exactly discounts the estimated future cash flows through the expected life of the instrument to the net carrying amount at initial recognition.

A financial liability is held for trading if it is: – incurred for the purpose of repurchasing or repaying in the near term; – part of a portfolio where there is an actual pattern of short-term profit-taking; or – a derivative financial instrument (except for a derivative that is in a financial guarantee contract or a derivative that is in effective hedging relationships).

The change in fair value of the financial liability attributable to changes in the issuer's credit risk is taken to other comprehensive income and is not subsequently reclassified to profit or loss. Instead, it is transferred to retained earnings upon derecognition of the financial liability.

If taking the change in credit risk in other comprehensive income enlarges or creates an accounting mismatch, then these gains or losses should be taken to profit or loss rather than other comprehensive income.

A financial liability cannot be reclassified.

Page 13

Self Storage Association of Australasia Limited ABN 23 050 341 725 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 NOTE 1: MATERIAL ACCOUNTING POLICY INFORMATION d.

Financial Instruments (Continued) Classification and subsequent measurement (Continued) Financial assets Financial assets are subsequently measured at: – amortised cost; – fair value through other comprehensive income; or – fair value through profit or loss Measurement is on the basis of two primary criteria: – the contractual cash flow characteristics of the financial asset; and – the business model for managing the financial assets.

A financial asset that meets the following conditions is subsequently measured at amortised cost: – the financial asset is managed solely to collect contractual cash flows; and – the contractual terms within the financial asset give rise to cash flows that are solely payments of principal and interest on the principal amount outstanding on specified dates.

A financial asset that meets the following conditions is subsequently measured at fair value through other comprehensive income: – the contractual terms within the financial asset give rise to cash flows that are solely payments of principal and interest on the principal amount outstanding on specified dates; and – the business model for managing the financial asset comprises both contractual cash flows collection and the selling of the financial asset.

By default, all other financial assets that do not meet the measurement conditions of amortised cost and fair value through other comprehensive income are subsequently measured at fair value through profit or loss.

The Company initially designates a financial instrument as measured at fair value through profit or loss if: – it eliminates or significantly reduces a measurement or recognition inconsistency (often referred to as an “accounting mismatch”) that would otherwise arise from measuring assets or liabilities or recognising the gains and losses on them on different bases; – it is in accordance with the documented risk management or investment strategy and information about the groupings is documented appropriately, so the performance of the financial liability that is part of a group of financial liabilities or financial assets can be managed and evaluated consistently on a fair value basis; and – it is a hybrid contract that contains an embedded derivative that significantly modifies the cash flows otherwise required by the contract.

The initial designation of financial instruments to measure at fair value through profit or loss is a one-time option on initial classification and is irrevocable until the financial asset is derecognised.

Derecognition Derecognition refers to the removal of a previously recognised financial asset or financial liability from the statement of financial position.

Derecognition of financial liabilities A liability is derecognised when it is extinguished (ie when the obligation in the contract is discharged, cancelled or expires). An exchange of an existing financial liability for a new one with substantially modified terms, or a substantial modification to the terms of a financial liability, is treated as an extinguishment of the existing liability and recognition of a new financial liability.

The difference between the carrying amount of the financial liability derecognised and the consideration paid and payable, including any non-cash assets transferred or liabilities assumed, is recognised in profit or loss.

Page 14

Self Storage Association of Australasia Limited ABN 23 050 341 725 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 NOTE 1: MATERIAL ACCOUNTING POLICY INFORMATION d.

Financial Instruments (Continued) Derecognition (Continued) Derecognition of financial assets A financial asset is derecognised when the holder’s contractual rights to its cash flows expires, or the asset is transferred in such a way that all the risks and rewards of ownership are substantially transferred.

All the following criteria need to be satisfied for the derecognition of a financial asset: – the right to receive cash flows from the asset has expired or been transferred; – all risk and rewards of ownership of the asset have been substantially transferred; and – the Company no longer controls the asset (ie has no practical ability to make unilateral decision to sell the asset to a third party).

On derecognition of a financial asset measured at amortised cost, the difference between the asset’s carrying amount and the sum of the consideration received and receivable is recognised in profit or loss.

On derecognition of a debt instrument classified as fair value through other comprehensive income, the cumulative gain or loss previously accumulated in the investment revaluation reserve is reclassified to profit or loss.

On derecognition of an investment in equity which the Company elected to classify under fair value through other comprehensive income, the cumulative gain or loss previously accumulated in the investments revaluation reserve is not reclassified to profit or loss, but is transferred to retained earnings.

Impairment The Company recognises a loss allowance for expected credit losses on: – financial assets that are measured at amortised cost or fair value through other comprehensive income; – lease receivables; – contract assets (eg amount due from customers under construction contracts); – loan commitments that are not measured at fair value through profit or loss; and – financial guarantee contracts that are not measured at fair value through profit or loss.

Loss allowance is not recognised for: – financial assets measured at fair value through profit or loss; or – equity instruments measured at fair value through other comprehensive income.

Expected credit losses are the probability-weighted estimate of credit losses over the expected life of a financial instrument. A credit loss is the difference between all contractual cash flows that are due and all cash flows expected to be received, all discounted at the original effective interest rate of the financial instrument.

The Company uses the simplified approach to impairment, as applicable under AASB 9: Financial Instruments.

Simplified approach The simplified approach does not require tracking of changes in credit risk at every reporting period, but instead requires the recognition of lifetime expected credit loss at all times.

This approach is applicable to trade receivables.

In measuring the expected credit loss, a provision matrix for trade receivables is used taking into consideration various data to get to an expected credit loss (ie diversity of its customer base, appropriate groupings of its historical loss experience, etc).

Page 15

Self Storage Association of Australasia Limited ABN 23 050 341 725 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 NOTE 1: MATERIAL ACCOUNTING POLICY INFORMATION d.

Financial Instruments (Continued) Impairment (Continued) Recognition of expected credit losses in financial statements At each reporting date, the Company recognises the movement in the loss allowance as an impairment gain or loss in the statement of profit or loss and other comprehensive income.

The carrying amount of financial assets measured at amortised cost includes the loss allowance relating to that asset.

Assets measured at fair value through other comprehensive income are recognised at fair value with changes in fair value recognised in other comprehensive income. The amount in relation to change in credit risk is transferred from other comprehensive income to profit or loss at every reporting period.

For financial asset that are unrecognised (eg loan commitments yet to be drawn, financial guarantees), a provision for loss allowance is created in the statement of financial position to recognise the loss allowance.

e.

Impairment of Assets At the end of each reporting period, the Company assesses whether there is any indication that an asset may be impaired. The assessment will include considering external sources of information and internal sources of information. If such an indication exists, an impairment test is carried out on the asset by comparing the recoverable amount of the asset, being the higher of the asset’s fair value less costs of disposal and value in use, to the asset’s carrying amount. Any excess of the asset’s carrying amount over its recoverable amount is recognised immediately in profit or loss, unless the asset is carried at a revalued amount in accordance with another Standard (e.g. in accordance with the revaluation model in AASB 116: Property, Plant and Equipment). Any impairment loss of a revalued asset is treated as a revaluation decrease in accordance with that other Standard.

Where it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Impairment testing is performed annually for goodwill and intangible assets with indefinite lives.

f.

Employee Benefits Short-term employee benefits Provision is made for the Company’s obligation for short-term employee benefits. Short-term employee benefits are benefits (other than termination benefits) that are expected to be settled wholly within 12 months after the end of the annual reporting period in which the employees render the related service, including wages, salaries and sick leave. Short-term employee benefits are measured at the (undiscounted) amounts expected to be paid when the obligation is settled.

The Company’s obligations for short-term employee benefits such as wages, salaries and sick leave are recognised as part of current trade and other payables in the statement of financial position.

Other long-term employee benefits The Company classifies employees’ long service leave and annual leave entitlements as other long-term employee benefits, as they are not expected to be settled wholly within 12 months after the end of the annual reporting period in which the employees render the related service. Provision is made for the Company’s obligation for other long-term employee benefits, which is measured at the present value of the expected future payments to be made to employees. Expected future payments incorporate anticipated future wage and salary levels, durations of service and employee departures, and are discounted at rates determined by reference to market yields at the end of the reporting period on corporate bonds that have maturity dates that approximate the terms of the obligations. Any remeasurements for changes in assumptions of obligations for other long-term employee benefits are recognised in profit or loss in the periods in which the changes occur.

Page 16

Self Storage Association of Australasia Limited ABN 23 050 341 725 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 NOTE 1: MATERIAL ACCOUNTING POLICY INFORMATION f.

Employee Benefits (Continued) Other long-term employee benefits (Continued) The Company’s obligations for long-term employee benefits are presented as non-current provisions in its statement of financial position, except where the Company does not have an unconditional right to defer settlement for at least 12 months after the reporting date, in which case the obligations are presented as current provisions.

Retirement benefit obligations Defined contribution superannuation benefits All employees of the Company receive defined contribution superannuation entitlements, for which the Company pays the fixed superannuation guarantee contribution to the employee’s superannuation fund of choice. All contributions in respect of employees’ defined contribution entitlements are recognised as an expense when they become payable. The Company’s obligation with respect to employees’ defined contribution entitlements is limited to its obligation for any unpaid superannuation guarantee contributions at the end of the reporting period. All obligations for unpaid superannuation guarantee contributions are measured at the (undiscounted) amounts expected to be paid when the obligation is settled and are presented as part of current trade and other payables in the Company’s statement of financial position.

g.

Provisions Provisions are recognised when the Company has a legal or constructive obligation, as a result of past events, for which it is probable that an outflow of economic benefits will result and that outflow can be reliably measured.

Provisions are measured using the best estimate of the amounts required to settle the obligation at the end of the reporting period.

h.

Cash and Cash Equivalents Cash and cash equivalents include cash on hand, deposits held at-call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts.

i.

Revenue Recognition All revenue is stated net of the amount of goods and services tax.

Revenue is recognised when the amount of the revenue can be measured reliably, it is probable that economic benefits associated with the transaction will flow to the Company and specific criteria relating to the type of revenue as noted below, has been satisfied.

Revenue is measured at the fair value of the consideration received or receivable and is presented net of returns, discounts and rebates. (i)

Membership Subscriptions Revenue from the provision of membership subscriptions is recorded as deferred income and recognised on a pro-rata basis over the membership period regardless of the fact that no other enforceable performance obligation is required to be satisfied.

(ii)

Rendering of services Revenue in relation to rendering of services is recognised depending on whether the outcome of the services can be estimated reliably. If the outcome can be estimated reliably then the stage of completion of the services is used to determine the appropriate level of revenue to be recognised in the period.

If the outcome cannot be reliably estimated then revenue is recognised to the extent of expenses recognised that are recoverable.

Page 17

Self Storage Association of Australasia Limited ABN 23 050 341 725 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 NOTE 1: MATERIAL ACCOUNTING POLICY INFORMATION j.

Trade and Other Receivables Trade and other receivables include amounts due from customers for goods sold and services performed in the ordinary course of business. Receivables expected to be collected within 12 months of the end of the reporting period are classified as current assets. All other receivables are classified as non-current assets.

Trade and other receivables are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method, less any provision for impairment. Refer to Note 1(e) for further discussion on determination of impairment losses.

k.

Trade and Other Payables Trade and other payables represent the liabilities for goods and services received by the Company that remain unpaid at the end of the reporting period. The balance is recognised as a current liability with the amounts normally paid within 30 days of recognition of the liability. Trade and other payables are initially measured at fair value and subsequently measured at amortised cost using the effective interest method.

l.

Goods and Services Tax (GST) Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian Taxation Office (ATO).

Receivables and payables are stated inclusive of the amount of GST receivable or payable. The net amount of GST recoverable from, or payable to, the ATO is included with other receivables or payables in the statement of financial position.

Cash flows are presented on a gross basis. The GST components of cash flows arising from investing or financing activities which are recoverable from, or payable to, the ATO are presented as operating cash flows included in receipts from customers or payments to suppliers.

m.

Comparative Figures When required by Accounting Standards, comparative figures have been adjusted to conform to changes in presentation for the current financial year.

n.

Critical Accounting Estimates and Judgements The directors evaluate estimates and judgements incorporated in the financial statements based on historical knowledge and best available current information. Estimates assume a reasonable expectation of future events and are based on current trends and economic data, obtained both externally and within the Company.

Key estimates Useful lives of assets The Company determines the estimated useful lives and related depreciation and amortisation charges for its property, plant and equipment. The useful lives could change significantly as a result of technical innovations or some other event. The depreciation and amortisation charge will increase where the useful lives are less than previously estimated lives, or technically obsolete or non-strategic assets that have been abandoned or sold will be written off or written down.

Fair value of financial instruments The Company has certain financial assets and liabilities which are measured at fair value. Where fair value has not able to be determined based on quoted price, a valuation model has been used. The inputs to these models are observable, where possible, however these techniques involve significant estimates and therefore fair value of the instruments could be affected by changes in these assumptions and inputs.

Page 18

Self Storage Association of Australasia Limited ABN 23 050 341 725 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 NOTE 1: MATERIAL ACCOUNTING POLICY INFORMATION o.

New and Amended Accounting Standards Adopted by the Company The Company has adopted the following revised or amending Australian Accounting Standards and Interpretations issued by the Australian Accounting Standards Board that are mandatory for the year ended 30 June 2025. Adoption of these standards has not had any material effect on the financial position or performance of the Company.

–

AASB 2020-1 Amendments to Australian Accounting Standards – Classification of Liabilities as Current or Non-Current

–

AASB 2022-6 Amendments to Australian Accounting Standards – Non-current Liabilities with Covenants

Page 19

Self Storage Association of Australasia Limited ABN 23 050 341 725 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 NOTE 2: REVENUE AND OTHER INCOME Note

2025 $

2024 $

2(a) 2(b) 2(c)

2,335,692 22,624 29,573 2,387,889

2,034,443 29,344 37,687 2,101,474

988,466 169,376 1,136 1,141,855 34,859 2,335,692

717,667 127,850 2,309 1,128,397 58,220 2,034,443

1,193,837 1,141,855 2,335,692

906,046 1,128,397 2,034,443

22,624

29,344

24,078 5,495 29,573

26,995 10,692 37,687

Expenses Employee benefits expense – contributions to defined contribution superannuation funds

49,996

52,092

Significant Revenue and Expenses The following significant revenue and expense items are relevant in explaining the financial performance: – Convention expenses

971,425

701,717

The components of tax expense comprise: Current tax expense

25,921

4,990

The prima facie tax on profit before income tax is reconciled to income tax as follows: Prima facie tax on profit before income tax at 30% (2024: 30%)

46,002

14,657

664,936 (702,178) 8,760

609,926 (598,662) 25,921

The Company has recognised the following amounts relating to revenue in the statement of profit or loss: Continued operations Revenue from members and customers Other sources of revenue Other income

a.

Revenue Disaggregation The revenue is disaggregated along natures: – Convention & summit – Advertising & marketing – Membership events & training – Membership fees – Partnership and sponsorship

Timing of revenue recognition Services provided to members and customers: – at a point in time – over time

b.

c.

Other Sources of Revenue – Interest from unrelated party Other Income – Rental income – Other revenue

NOTE 3: PROFIT BEFORE INCOME TAX a.

b..

NOTE 4: TAX EXPENSE a. b.

Add : tax effect of non-deductible items Less : tax effect of non-assessable items Tax expense

Page 20

Self Storage Association of Australasia Limited ABN 23 050 341 725 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 NOTE 5: KEY MANAGEMENT PERSONNEL COMPENSATION Note Key management personnel compensation

2025 $ -

2024 $ -

The totals represent the remuneration paid by the Company to key management personnel (KMP) during the year.

NOTE 6: CASH AND CASH EQUIVALENTS Cash at bank and on hand

444,661

400,277

21

52,399 392,262 444,661

22,405 377,872 400,277

21

129,603

36,841

189,744

417,830

1,000,000

838,126

256,626 415,745 672,371

256,626 407,081 663,707

346,530 (178,901) 167,629

346,530 (170,237) 176,293

840,000

840,000

34,470 (23,931) 10,539

54,352 (41,919) 12,433

87,750 (18,505) 69,245

244,971 (163,876) 81,095

919,784

933,528

Reconciliation of cash Cash and cash equivalents at the end of the financial year as shown in the statement of cash flows are reconciled to items in the statement of financial position as follows: Cash at bank Short-term deposits

There are no restrictions with respect to access to the cash and cash equivalents.

NOTE 7: TRADE AND OTHER RECEIVABLES Trade receivables NOTE 8: OTHER ASSETS Prepayments NOTE 9: FINANCIAL ASSETS Financial assets at amortised cost: – held-to-maturity investments: term deposits

21

NOTE 10: PROPERTY, PLANT AND EQUIPMENT Land and Buildings Freehold land: At original cost Valuated amount Buildings: At cost Less accumulated depreciation Total land and buildings

22

Office equipment At cost Less accumulated depreciation Computer software At cost Less accumulated depreciation 10(a)

Page 21

Self Storage Association of Australasia Limited ABN 23 050 341 725 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 Note 10: Property, Plant and Equipment (Continued) a.

Movements in Carrying Amounts Movement in the carrying amounts for each class of property, plant and equipment: Freehold land $

Buildings $

Office equipment $

Computer software $

663,707 8,664 672,371

176,293 (8,664) 167,629

12,433 (1,894) 10,539

81,095 (11,850) 69,245

Balance at the beginning of the year Revaluation (note 10b) Addition Depreciation expense Carrying amount at the end of the year b.

Total $ 933,528 8,664 (22,408) 919,784

Asset revaluations The basis of the valuation of land and buildings is fair value, being the amounts for which the assets could be exchanged between willing parties in an arm's length transaction, based on current prices in an active market for similar properties in the same location and condition. The land and buildings were last revalued on 16 April 2024 based on independent assessments by a certified practising valuer. The year 2024 revaluation report indicated that the land and building at Unit 4, 2 Enterprise Drive, Bundoora VIC 3083, is valued at $840,000.

NOTE 11: INTANGIBLE ASSETS Note

2025 $

2024 $

-

39,990 (39,990) -

85,028 49,411 134,439

245,826 44,174 290,000

3,297 137,736

(13,857) 276,143

354,397 248,724 45,278 648,399

325,631 241,280 48,611 615,522

24,580

25,537

CURRENT Provision for employee benefits: annual leave

36,297

32,378

NON-CURRENT Provision for employee benefits: long service leave

32,450

25,936

Intellectual property At cost Less accumulated amortisation

NOTE 12: TRADE AND OTHER PAYABLES Financial liabilities measured at amortised cost: Trade payables Other payables 21 Other: GST payable / (recoverable)

NOTE 13: OTHER LIABILITIES Membership fees in advance Prepaid convention and other fees Prepaid license fees 21 NOTE 14: TAX Income tax payable NOTE 15: PROVISIONS

Page 22

Self Storage Association of Australasia Limited ABN 23 050 341 725 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 NOTE 15: PROVISIONS (CONTINUED) Annual Leave $ Analysis of total provisions Opening balance at 1 July 2024 Additional provisions raised during year Amounts used

32,378 35,281 (31,362) 36,297

Long Service Leave $

Total $

25,936 6,514 32,450

58,314 41,795 (31,362) 68,747

Provision for employee benefits Provision for employee benefits represents amounts accrued for annual leave and long service leave.

The current portion for this provision includes the total amount accrued for annual leave entitlements and the amounts accrued for long service leave entitlements that have vested due to employees having completed the required period of service. Based on past experience, the Company does not expect the full amount of annual leave or long service leave balances classified as current liabilities to be settled wholly within the next 12 months. However, the amounts must be classified as current liabilities since the Company does not have an unconditional right to defer the settlement of these amounts in the event employees wish to use their leave entitlement.

The non-current portion for this provision includes amounts accrued for long service leave entitlements that have not yet vested in relation to those employees who have not yet completed the required period of service.

In calculating the present value of future cash flows in respect of long service leave, the probability of long service leave being taken is based upon historical data.

NOTE 16: ASSET REVALUATION RESERVE The assets revaluation reserve records the cumulative amount of gains or losses recognised in remeasuring the land at fair value through other comprehensive income.

NOTE 17: MEMBERS’ GUARANTEE Self Storage Association of Australasia Limited is incorporated under the Corporations Act 2001 and is a company limited by guarantee. If the Company is wound up, the constitution states that each member is required to contribute a maximum of $50 towards meeting any outstanding obligations of the Company. At 30 June 2025, the number of members was 1,511 (2024: 1,438).

NOTE 18: CONTINGENT LIABILITIES AND CONTINGENT ASSETS There were no contingent liabilities and contingent assets as at 30 June 2025.

NOTE 19: EVENTS AFTER THE REPORTING PERIOD There were no significant events since the end of the reporting period other than contract for sale of land and buildings for a consideration of $840,000 was signed in June 2025 and it will be settled in December 2025.

NOTE 20: RELATED PARTY TRANSACTIONS a.

Key management personnel Any person(s) having authority and responsibility for planning, directing and controlling the activities of the Company, directly or indirectly, including any director (whether executive or otherwise) of the Company, is considered key management personnel.

b.

Other related parties Other related parties include close family members of key management personnel and entities that are controlled or significantly influenced by those key management personnel, individually or collectively with their close family members.

c.

Transactions with related parties There were no transactions with related parties.

Page 23

Self Storage Association of Australasia Limited ABN 23 050 341 725 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 NOTE 21: FINANCIAL RISK MANAGEMENT The Company financial instruments consist mainly of deposits with banks, term deposits, accounts receivable and payable.

The carrying amounts for each category of financial instruments, measured in accordance with AASB 139: Financial Instruments as detailed in the accounting policies to these financial statements, are as follows: Note

2025 $

2024 $

Financial assets Financial assets at amortised cost: – Cash and cash equivalents – Trade and other receivables – Held-to-maturity investments

6 7 9

444,661 129,603 1,000,000 1,574,264

400,277 36,841 838,126 1,275,244

Financial liabilities Financial liabilities at amortised cost: – Trade and other payables – Other liabilities

12 13

134,439 648,399 782,838

290,000 615,522 905,522

NOTE 22: FAIR VALUE MEASUREMENTS The Company has the following assets, as set out in the table below, that are measured at fair value on a recurring basis after initial recognition. The Company does not subsequently measure any liabilities at fair value.

Recurring fair value measurements Financial assets Financial assets at fair value through other comprehensive income: – Land and buildings

10

840,000

840,000

For freehold land, the fair values have been determined by an independent valuer based on a market approach using recent observable market data for similar properties.

NOTE 23: AUDITOR’S REMUNERATION Remuneration of the auditor: – auditing or reviewing the financial statements

11,350

10,600

NOTE 24: COMPANY DETAILS The Company is domiciled and incorporated in Australia.

The registered office of the Company is: Unit 4, 2 Enterprise Drive Bundoora VIC 3083

Page 24

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF SELF STORAGE ASSOCIATION OF AUSTRALASIA LIMITED Opinion We have audited the financial report of Self Storage Association of Australasia Limited (the “Company”), which comprises the statement of financial position as at 30 June 2025, the statement of profit and loss and other comprehensive income, statement of changes in equity and statement of cash flows for the year then ended, notes to the financial statements, including a summary of significant accounting policies, and the directors’ declaration.

In our opinion, the accompanying financial report of Self Storage Association of Australasia Limited is in accordance with the Corporations Act 2001, including: • •

giving a true and fair view of the Company’s financial position as at 30 June 2025 and of its financial performance for the year then ended; and complying with Australian Accounting Standards – AASB 1060: General Purpose Financial Statements – Simplified Disclosures for For-Profit and Not-for-Profit Tier 2 Entities and the Corporations Regulations 2001.

Basis for Opinion We conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Report section of our report. We are independent of the Company in accordance with the auditor independence requirements of the Corporations Act 2001 and the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (including Independence Standards) (the Code) that are relevant to our audit of the financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code.

We confirm that the independence declaration required by the Corporations Act 2001, which has been given to the directors of Self Storage Association of Australasia Limited, would be in the same terms if given to the directors as at the time of this auditor’s report.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Information Other than the Financial Report and Auditor’s Report Thereon The directors are responsible for the other information. The other information comprises the information included in the Company’s annual report for the year ended 30 June 2025, but does not include the financial report and our auditor’s report thereon.

Our opinion on the financial report does not cover the other information and accordingly we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial report, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial report or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Responsibilities of the Directors for the Financial Report The directors of the Company are responsible for the preparation of the financial report that gives a true and fair view in accordance with Australian Accounting Standards – AASB 1060: General Purpose Financial Statements – Simplified Disclosures for For-Profit and Not-for-Profit Tier 2 Entities and the Corporations Act 2001 and for such internal control as the directors determine is necessary to enable the preparation of the financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error.

In preparing the financial report, the directors are responsible for assessing the ability of the Company to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

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Liability limited by a scheme approved under Professional Standards Legislation Office: Level 24, 530 Collins Street, Melbourne VIC 3000 | Mail: PO Box 539, Collins Street West, VIC 8007 | Tel: (03) 9861 6100 | www.onefocus.com.au

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF SELF STORAGE ASSOCIATION OF AUSTRALASIA LIMITED (CONT’D) Auditor’s Responsibility for the Audit of the Financial Report Our objectives are to obtain reasonable assurance about whether the financial report as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the Australian Auditing Standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this financial report.

As part of an audit in accordance with the Australian Auditing Standards, we exercise professional judgement and maintain professional scepticism throughout the audit. We also: •

•

• •

• •

Identify and assess the risks of material misstatement of the financial report, 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 opinion. 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.

Obtain an understanding of internal control relevant to the audit 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 Company’s internal control.

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

Conclude on the appropriateness of the directors' 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 Company’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 report or, if such disclosures are inadequate, to modify our opinion. 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 Company to cease to continue as a going concern.

Evaluate the overall presentation, structure and content of the financial report, including the disclosures, and whether the financial report represents the underlying transactions and events in a manner that achieves fair presentation.

Obtain sufficient appropriate audit evidence regarding the financial information and business activities within the Company to express an opinion on the financial report. We are responsible for the direction, supervision and performance of the audit. We remain solely responsible for our opinion.

We communicate with the directors 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.

onefocus Audit & Assurance Pty Ltd ACN 163 796 147

Scott Phillips Director

Signed in Melbourne this 21st day of October 2025

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Liability limited by a scheme approved under Professional Standards Legislation Office: Level 24, 530 Collins Street, Melbourne VIC 3000 | Mail: PO Box 539, Collins Street West, VIC 8007 | Tel: (03) 9861 6100 | www.onefocus.com.au