Annual Report 2025 Doctor Care Anywhere Group plc (Company Number 08915336) (ARBN 645 163 873) 2 Doctor Care Anywhere  | Annual Report 2025 Our Vision: To be the primary care provider of choice for digital healthcare. Our Purpose: To provide quality care to patients by offering 24/7 access to clinical services 365 days a year. Doctor Care Anywhere | Annual Report 2025 3 Contents Strategic Report Chairman Letter 6 CEO Report - 2025 8 Section 172 Statement 10 Operating and Financial Review 12 FY 2025 Consolidated Statement of Comprehensive Income 13 Operational Risks 15 Clinical Review of 2025 18 Report of the Directors Directors’ Report 21 Corporate Governance Statement 28 Appendix A - Board Skills Matrix 40 Remuneration Letter and Report 2025 43 Directors’ Declaration 52 Directors’ Responsibility Statement 53 Financial Statements Financial Statements 54 Independent Auditor’s Report 86 Shareholder Information 92 Corporate Directory 94 4 Doctor Care Anywhere  | Annual Report 2025 Who is DCA? Executive Summary Market Opportunity UK virtual health market value £809m (CAGR 18.8% over next 5 years) 7.3m people waiting for NHS treatment and average wait of two weeks to see a GP Proven Model Our care model is proven effective, delivering strong outcomes & operational excellence Cash generative in FY 2025 Cash reserves to see business through to long term cash generation & profitability Best Product 684k consultations per year 1.3m activated lives Trustpilot score 4.2 star Right Team A highly skilled clinical & operational workforce (600+) Range of clinician types, primed for future growth Experienced leadership team with backgrounds in digital health Scalable Platform 24/7 service with 100% of patients seen within 24hrs 99.8% platform availability Operational excellence: 99% calls answered in < 60 secs We are a business with the winning formula Doctor Care Anywhere | Annual Report 2025 5 Financial Highlights 2025 Continued improvement in all financial metrics £38.0m Revenue (A$76.7m) +6.5% BAU on FY 24 Underlying EBITDA profit of £5.3m (A$10.7m) Up from £0.1m in FY 24 Cash generation in FY 25 of £2.2m (A$4.4m) First time in Company’s history cash generation metric achieved £6.6m (A$13.3m) cash in hand at 31 Dec 25 £1.2m net profit (A$2.4m) up from £6.3m loss (A$12.7m) in FY 24 43.5% Underlying contribution margin Up from 38.3% in FY 24 6 Doctor Care Anywhere  | Annual Report 2025 Chairman Letter A Year of Transformation, Renewed Discipline and Clear Strategic Momentum 2025 has been a defining and transformational year for Doctor Care Anywhere. We entered the year with a clear set of priorities: • Strengthen the foundations of the business • Deliver consistently against our operational commitments • Build a platform capable of supporting long-term sustainable growth I am pleased to report that the Company has delivered on these goals with discipline, clarity and focus; and in many cases exceeded expectations. Our performance in 2025 reflects not only strong leadership and rigorous execution, but also the resilience and capability of our people. It has been a year in which Doctor Care Anywhere has sharpened its identity, demonstrated its value to partners and patients, and strengthened its operational and financial footing. Impressive Financial Improvements 2025 marked a step‑change in Doctor Care Anywhere’s financial performance, delivering the Company’s first full year of profit and a substantially strengthened balance sheet. The financial transformation achieved during the year reflects disciplined cost management, improved operational efficiency, and continued progress in optimising the clinical and technology operating model. Despite revenue reducing to £38.0 million (FY24: £39.3 million) due to the closure of the secondary care diagnostics pathway, the Company delivered strong growth in underlying BAU revenues and improved margin performance across the business. Underlying contribution margin strengthened significantly to 43.5%, up 5.2 percentage points on FY24, supported by price increases, clinical mix evolution, and sustained operational efficiencies. Underlying contribution rose to £16.5 million, up 5.2ppt compared with the prior year. The Company delivered a substantial uplift in profitability, reporting EBITDA of £4.4 million, a 500% improvement versus FY24. Excluding one‑off restructuring costs of £0.9 million, underlying EBITDA was £5.3 million, representing 13.9% of revenue. This performance reflects the successful delivery of the 2025 restructuring programme and a continued focus on productivity and disciplined cost control. After adjusting for restructuring and the effective interest charge on convertible notes, the Company delivered an underlying net profit of £2.8 million, an improvement of £4.9 million on underlying FY24. Statutory net profit after tax for the year was £1.2 million, marking the first full year of profit in the Company’s history. Doctor Care Anywhere closed the year with a strengthened balance sheet, ending 2025 with £6.6 million in cash, compared with £4.4 million at the end of 2024. The business generated £2.2 million of net cash during the year, or £3.1 million of underlying cash generation excluding restructuring costs. With no principal repayments required on the £10.6 million convertible loan note until 31 December 2027, the business is well‑positioned to support its medium‑term growth ambitions. Overall,2025representedadecisiveturnaroundyear:stronger margins, improved profitability, positive cash generation and a more efficient operating model. With a clearer platform for growth, the Company enters 2026 with the financial resilience and strategic focus required to accelerate value creation. Operational and Strategic Progress Early in the year, the business undertook a full organisational redesign, a decisive and necessary step in positioning the Company for future growth. This was not merely a structural shift; it represented a cultural reset aimed at embedding accountability, improving alignment and increasing operational pace. The impact has been significant: teams are more focused, delivery models are clearer, and execution has strengthened across the organisation. We also made substantial progress in raising the visibility of the Doctor Care Anywhere brand. Our presence at industry events, clinical forums, and investor meetings, including our international engagement in Australia, has reinforced our reputation as a high-quality digital healthcare partner with increased market confidence in our long-term direction. A particular highlight of 2025 has been the strengthening of relationships with investors and key stakeholders. Through our renewed engagement programme, including hosting at Bell Potter and meeting with institutional investors across Sydney and Melbourne. We effectively communicated our strategy and performance. This has contributed to increased market engagement and a more constructive dialogue with our shareholder base. Technology, Service Delivery and Clinical Excellence Our technology capability continues to be a key differentiator and area of investment. In 2025 the Company delivered some of the largest platform releases in its history and establishing a clear roadmap to seize our most significant opportunities. These include materially reducing the patient registration period and launching our health assessment and mental health services. Service Delivery has also undergone a step change. With refreshed leadership, strengthened management practices and a sharper focus on utilisation and workforce planning, the business has improved operational resilience and enhanced the efficiency of our clinical workforce. These changes have created the foundation for a more scalable and predictable model going forward, underpinned by technology. We also broadened and deepened our clinical proposition; including the launch of a dedicated musculoskeletal service, integration of Physitrack to enhance digital rehabilitation Doctor Care Anywhere | Annual Report 2025 7 John Stier John Stier Chair, Doctor Care Anywhere Group plc journeys, and the onboarding of Mental Health Practitioners. These developments support our ambition to deliver integrated, evidence-based care pathways and position the Company strongly in areas of growing patient demand in primary care. I am pleased to note continuing progress in clinical governance. The Company completed two internal mock CQC inspections during the year, both of which received a rating of “good”. This reflects the diligence and professionalism of our clinical teams and the strength of our governance and assurance processes. Our commitment to safety, compliance and high-quality clinical care remains fundamental. Financial Performance and Strengthened Foundations 2025 has been a year of significant financial discipline. The Company delivered strong financial results, underpinned by rigorous cost control, improved utilisation, and a more stable operating model. Importantly, these efficiencies have not constrained growth; they have enabled targeted reinvestment while preserving margin and strengthening cash generation. By year end, the Company exceeded a number of key objectives including revenue, underlying EBITDA, and year end cash. These results demonstrate the resilience of the operating model and confirm that the structural changes made during the year have materially strengthened performance. The Board is encouraged by the improved financial stability of the Company and remains confident in its ability to deliver sustainable, profitable growth over the medium term. Leadership and Board Developments 2025 also marked an important year of leadership transition. In January, we welcomed Laura O’Riordan as Chief Executive Officer, following her impressive leadership career across digital healthcare. Laura has brought renewed energy, pace and clarity to the business, and the impact of her leadership is evident across operational delivery, culture and commercial progress. At Board level, we completed a considered refresh of skills and experience. Following the appointment of Matthew Addison in late 2024, we welcomed Professor Samit Shah in January 2025, adding extensive expertise in public health, governance and clinical systems. Together, these appointments ensure that the Board is aligned with the next phase of our strategy and well equipped to support the Company’s long-term growth ambitions. People, Culture and Ways of Working Culture has been a central focus throughout the year. Our new office at Great Portland Street has already strengthened collaboration and encouraged more rapid problem solving and innovation across teams. The inaugural all company Summit was a milestone moment, bringing colleagues together to reconnect, reset and re-energise around our strategy. Iamexceptionallyproudofthecommitment,professionalism and spirit of our people throughout this period of change. Their adaptability and continued focus on delivering the best possible outcomes for patients have been at the heart of our success this year. Looking Ahead to 2026 Doctor Care Anywhere enters 2026 with confidence, discipline and momentum. The UK healthcare market continues to present significant and growing opportunities: rising demand, long waiting times in the NHS, and expanding adoption of virtual care all reinforce the need for scalable, high-quality digital pathways. With a strengthened leadership team, a leaner cost base, clearer strategic focus and improved investor engagement, the Company is well positioned to accelerate its next phase of growth. We will continue to deepen our clinical pathways, enhanceourtechnologyplatform,strengthenourcommercial relationships and expand profitable opportunities in UK primary care. A Final Note of Thanks On behalf of the Board, I would like to express my sincere thanks to all our colleagues for their exceptional hard work and commitment throughout the year. Their professionalism, resilience and dedication have enabled the Company to deliver one of its most important years of progress to date. Thank you also to our shareholders, customers and partners for their continued support and trust. We look forward to building on this foundation in 2026 and building long-term, sustainable value for all stakeholders. 8 Doctor Care Anywhere  | Annual Report 2025 CEO’s Letter 2025 has been a defining year for Doctor Care Anywhere, a year of transformation, discipline, and renewed momentum. We entered the year with a clear and deliberate plan: to sharpen our cost base, strengthen our organisational foundations, and accelerate sustainable, profitable growth. I am proud to say that we have not only delivered against these objectives but, in many areas, exceeded them. A Year of Strategic Transformation One of the most significant achievements of the year has been the successful delivery of a full organisational redesign. This was far more than a structural change; it represented a cultural reset across the business. With the support of a highly engaged Senior Leadership Team, we have embedded a clearer operating model, improved accountability, and created the conditions for faster, more aligned execution. This work has strengthened the link between strategy, delivery, and performance — and it is already showing measurable impact. At the same time, we made substantial progress in elevating the Doctor Care Anywhere brand. Our increased presence at corporate, clinical, and industry events has expanded our visibility and reinforced our position as a leading digital healthcare partner. Our international engagement, including our visit to Australia, allowed us to meet shareholders and potential partners, deepening investor confidence in our long‑term ambitions. Building Stronger Investor and Stakeholder Relationships Building on strong relationships with investors and stakeholders has been a priority throughout 2025. Our engagement programme — including hosting at Bell Potter — enabled us to clearly communicate our strategy, operational progress, and value‑creation potential. These conversations were instrumental in increasing market engagement and contributed to the positive movement in our share price over the year. The feedback we received has helped shape our priorities and reaffirmed the strength and credibility of our growth trajectory. I am particularly looking forward to hosting the AGM from Australia in 2026. Strengthening Technology We deepened our understanding of our technology stack and delivered some of the largest platform releases in our history. Importantly, we demonstrated our ability to learn quickly and adapt, turning early challenges into clear pathways for improvement and opportunity. This work has given us better visibility of our technical opportunities, alongside a robust and prioritised plan to address them in 2026 as we continue to build shareholder value. Transforming Service Delivery One of the most impactful areas of progress this year has been within Service Delivery. The shift in approach, supported by refreshed management practices and a strengthened learning culture, has driven significant improvements in utilisation, resource planning, and operational discipline. These enhancements have materially strengthened both our capacity and resilience. As a result, we are better positioned than ever to meet the needs of our customers while building a scalable, high‑performing model for the future. The progress we have made in 2025 is only the beginning, and we will continue to build on these successes throughout 2026 as we refine and mature our operational model even further. Strengthening Our Clinical Proposition In 2025, we made important progress in expanding and strengthening our clinical proposition, ensuring that Doctor Care Anywhere continues to deliver high‑quality, evidence‑based care across a broader range of patient needs. Our focus has been on launching services that not only meet rising demand but also integrate seamlessly into our digitally enabled care pathways. Launching our MSK Service: Musculoskeletal (MSK) conditions remain one of the leading drivers of clinical demand across the UK. This year we launched a dedicated MSK pathway designed to provide faster access to assessment, treatment, and recovery support. By combining expert clinical oversight with structured rehabilitation plans, we are helping patients manage symptoms earlier, reduce escalation, and improve long‑term outcomes. Integrating Physitrack to Enhance Digital Rehabilitation: To complement our MSK service, we introduced Physitrack as our digital rehabilitation and exercise‑prescription platform. This integration enables personalised treatment plans, remote monitoring, and greater continuity of care. The addition of digital physio pathways has strengthened our ability to deliver scalable, high‑quality MSK support and ensures patients stay engaged throughout their recovery journey. Introducing Mental Health Practitioners: Recognising the growing need for accessible mental health support, we expanded our clinical proposition further by onboarding qualified Mental Health Practitioners. Their expertise adds depth to our care model, enabling earlier intervention, more holistic assessments, and tailored support for individuals experiencing mild to moderate mental health challenges. This enhancement ensures we are meeting the wider wellbeing needs of our patients and supporting our partners in addressing one of the most significant healthcare priorities of our time. Together, these developments have diversified our clinical offering, improved our capacity to support complex patient needs, and strengthened the integrated care pathways that differentiate Doctor Care Anywhere. They represent an important step forward in our ambition to deliver truly joined‑up, digitally enabled healthcare. Doctor Care Anywhere | Annual Report 2025 9 A Year of Financial Discipline and Strong Results From a financial perspective, we delivered a very strong end to the year. Our emphasis on cost discipline and overhead reduction has not constrained growth; rather, it has enabled us to reinvest strategically while protecting margins as we scale. These results demonstrate the resilience of our business model and confirm that the operational changes made this year have materially enhanced our performance. Investing in our Future Beyond our financial performance, we have continued to invest in the core elements that make our organisation stronger. Embedding office-based ways of working: Our office relocation marked an important milestone in reshaping how we work. Collaboration is hugely important to me; working closely, spontaneously, and in-person accelerates creative thinking, strengthens alignment, and reinforces the rhythm and pace that underpin our winning formula. Our new space has already enabled more connected, agile, and solution‑driven ways of working. Bringing our people together for our first company-wide summit: For the first time in four years, we brought all colleaguestogetherforour DCASummit,amomentofgenuine reconnection across the organisation. The event focused on realigning our shared understanding of our strategy, sparking creativity, and reinforcing the key delivery milestones for the year ahead. We were privileged to welcome leading experts from technology and healthcare as guest speakers, helping us explore how both domains intersect to shape the future of our services. This gathering symbolised a more connected, energised and collaborative DCA. Together, these steps have strengthened our culture, reinforced a shared sense of purpose, and aligned our people around the next stage of our transformation. Looking Ahead: Unlocking Our Next Chapter The momentum we have built in 2025 positions us strongly for the future. With a leaner cost base, a refreshed leadership team, a more visible brand, and growing investor confidence, Doctor Care Anywhere is ready to accelerate into its next phase of growth. As we move forward, our focus will be on: • Scaling high quality, profitable growth across our core markets • Deepening strategic and commercial partnerships • Continuing to innovate our digital healthcare pathways and patient experience • Investing in leadership, culture, and talent to support sustainable expansion 2025 has been a year of decisive progress. We close the year stronger, more focused, and more confident in our long-term direction. Laura O’Riordan Laura O’Riordan Chief Executive Officer, Doctor Care Anywhere Group plc 10 Doctor Care Anywhere  | Annual Report 2025 Section 172 Statement The Company is dual regulated under both UK Companies law and the Australian Securities Exchange listing rules. Section 172 of the Companies Act 2006 (UK) requires that directors of a Company act in good faith to promote the success of the Company for all stakeholders. The directors consider that, during FY25, and having regard to the matters set out in s.172(1) (a)-(f) of the Companies Act 2006, they acted in good faith and undertook actions that would be most likely to promote the success of the Company for the benefit of its members as a whole, having regard to the interests of all stakeholders, including employees, customers, suppliers, and the wider community. Through an open and transparent dialogue with our key stakeholders, the directors have been able to develop a clear understanding of their needs, assess their perspectives and monitor their impact on the Company’s strategic ambition and culture. As part of the Board’s decision-making process, the Board and its Committees consider the potential impact of decisions on relevant stakeholders while also having regard to a number of broader factors, including the impact of the Company’s operations on the community and environment, responsible business practices, and the likely consequences of decisions in the long term. The Company notes that it is also listed on the Australian Securities Exchange, and as such must comply with the ASX Listing Rules and the Corporate Governance Principles and Recommendations, designed to ensure high quality corporate governance by Australian listed entities. This statement sets out the matters considered under each subsection of s.172(1) (a)-(f). A. The likely consequences of any decision in the long term The Board understood that its decisions have lasting implications for the Company’s success. During the year, the Board gave due regard to these long‑term implications in all matters before it. FY25 was a pivotal year for the Company. Following the appointment of a new Chief Executive Officer at the start of the year, the directors oversaw a fundamental reset of the operating model, establishing a platform for sustainable, long-term growth. The directors gave careful consideration throughout the year to the long-term consequences of each material decision, balancing the need to drive near-term financial performance with the investment required to position the Company for its next phase of growth. This long-term orientation was crystallised with the Board’s approval of the Three-Year Plan, projecting strong revenue growth and which will form the strategic framework guiding the Company’s investment and operational decisions going forward. The Board carefully assessed the likely consequences of each decision in the long term, and took into consideration the strategy, purpose, values and desired culture of the Company. During the year, the directors made decisions based on board discussions and papers, presentations from the executive management team, information documents, discussions with external advisors and reports from independent advisers. B. The interests of the company’s employees The Board recognised the critical role a motivated workforce plays in supporting the long‑term success of the Company and the Group. Accordingly, the Board had due regard to the interests of employees and other stakeholder groups in its decision‑making. Throughout FY25 the directors maintained a regular communication and consultation process with the Company’s employees about a range of matters including decisions about the Company’s operations, funding, leadership and culture. The Company encourages its employees to feed back their views through employee surveys, the results of which are analysed and, where possible, changes are implemented. The directors are committed to developing the Company’s culture of transparency, trust and accountability to ensure a supportive working environment for employees. Monthly ‘Town Hall’ meetings take place to provide updates on changes within the Company and company performance, with the opportunity for colleagues to ask questions on the issues that matter to them and on the business as a whole. The Board prioritised employee engagement by launching an inaugural all- colleague Annual Summit and maintaining investment in the Doctor Care Anywhere Academy of Management & Leadership, resulting in consistently high feedback and engagement scores. The Company has in place a suite of policies designed to foster the health and well-being of our employees. The Company also relocated its London head office to Great Portland Street in 2025, creating a modern, collaborative working environment in support of the Company’s Ways of Working programme. C. The need to foster the company’s business relationships with suppliers, customers and others The directors oversee the Company’s strategy and operations to develop and maintain mutually beneficial business relationships with all our partners, suppliers, government agencies and other stakeholders. During the year, there was regular communication between directors and senior management, and at all levels across the disciplines, with AXA PPP Healthcare Group Limited, the Company’s primary partner. Opportunities to improve the partnership and deliver shared benefits from Doctor Care Anywhere | Annual Report 2025 11 the service agreement are discussed in regular interactions among executives, to ensure that the relationship is effective and mutually beneficial. The Company approaches its relationships with other clients in a similar way through regular contact and transparent communication in order to ensure that both parties benefit from the relationship. The Company introduced a product and technology roadmap aimed to enhance the customer journey. During the year, new commercial relationships and contracts were established across a broad range of partners and sectors, including corporate employers, healthcare intermediaries and wellbeing platforms. The directors ensure our suppliers are paid in a timely manner. The directors have focused on initiatives to improve the availability of qualified practitioners via the platform to ensure our customers have timely access to appointments, and also to address technical obstacles to the efficiencies of our processes. We foster a culture of continuous improvement in which feedback is requested from service users and assessed to determine ways in which the service can be improved. D. The impact of the Company’s operations on the community and the environment The directors regularly consider the impact their decisions will have on the community. The Company provides an innovative primary healthcare service using technology, principally seeking to provide easy access to healthcare services in the UK where timely access to medical advice, particularly through more traditional routes, remains challenging. The directors also consider the environmental and social impact of our operations. As the services are principally provided via a telehealth platform, the environmental impact is low. Improved access to healthcare and innovative ways of improving health should deliver benefits for our wider community. The Board’s strategic decisions during the year – including the expansion of the clinical practitioner mix, investment in the booking journey, and the launch of new clinical pathways – were each considered in the context of their impact on patient outcomes and wider healthcare access. E. The desirability of the company maintaining a reputation for high standards of business conduct At all times the directors seek to ensure that the Company, through the Board’s oversight, adheres to high standards of corporate governance. The Company recognises and seeks to comply with the ASX’s Corporate Governance Principles and Recommendations, the primary mechanism for Australian listed companies to demonstrate high standards of corporate governance. The Company also maintains a Code of Conduct with Board and Committee Charters setting the framework for good governance. The Company has an externally managed whistleblower hotline service to enable matters of concern to be raised while protecting the interests of the whistleblower. Any matters identified are investigated promptly and reported to the directors, so that appropriate actions can be taken to protect the interests of all stakeholders, including employees and shareholders and the Company’s good standing. F. The need to act fairly between members of the Company The Board ensures that all security holders have the opportunity to express their concerns to the Board throughout the year by having access to the Chair, and through investor briefings. The Company also complies with Australian continuous disclosure obligations, thereby ensuring that its security holders have access to the same information about material matters at the same time. The AGM allows an opportunity for shareholders to ask questions and to discuss issues in more depth with the Board of Directors. In September 2025, the Company undertook its inaugural Australia Investor Roadshow, with the new Chief Executive Officer and other members of senior management visiting Sydney and Melbourne for direct engagement with shareholders and institutional investors. Directors who hold shares