Mitchell Services Limited

Career chronology

• 19 March 2014 onward: Mitchell Services Limited — Executive Chairman. Annual Report 2026 (2026 annual report, printed pp. 8–9 (PDF pp. 10–11), visually inspected)

• Before 2008 sale; start date unknown: Mitchell Drilling Contractors — CEO. Annual Report 2026 (2026 annual report, printed pp. 8–9 (PDF pp. 10–11), visually inspected)

Contributions and company outcomes

FY2026 earnings and cash flow improved sharply

Year ended 2026-06-30; announced 2026-08-24 · issuer reported · medium materiality

Mitchell Services reported FY2026 EBITDA of A$42.8m, up 67% on FY2025; profit after tax of A$15.2m versus A$0.5m; operating cash flow of A$37.4m, up 107%; and net cash A$3.5m versus net debt of A$8.4m at FY2025 year-end. The company declared a 2.0c fully franked final dividend, bringing FY2026 dividends to 6.0c/share. Chairman Nathan Mitchell described the result as among the strongest in the company’s history. The company statement does not quantify individual executive contributions.

Attribution: Role overlaps event; causation unproven. The performance figures are company-wide. Nathan Mitchell publicly commented as Executive Chairman, but this does not establish that any named executive individually caused the results.

Relevance: Operating and financial execution is relevant to executive suitability; the outcome provides a measured company benchmark.

Annual Report 2026 (printed pp. 3–4 and 22 (PDF pp. 5–6 and 24), visually checked)

Governance and interests

Related-party dealings disclosed by company

FY2026 · issuer reported · medium materiality

The FY2026 annual report reports A$358,989 rent and A$63,601 utilities to a Nathan Mitchell-controlled property company; an entity in which he is a significant shareholder received A$85,250 in rig-sale commissions and A$17,182 for parts. Mitchell Services says dealings were on normal market terms. We did not independently verify pricing or the negotiation process.

Attribution: Individual involvement documented. The issuer identifies Nathan Mitchell’s interests, but disclosure does not establish improper conduct.

Relevance: Related-party terms and monitoring matter to board independence and capital allocation.

Annual Report 2026 (printed pp. 71–72 (PDF pp. 73–74), visually checked)

Evidence gaps

• Independent verification of qualifications and complete prior-employer tenure was not obtained.

• The search is limited open-web screening; court, regulator, sanctions and professional records were not exhaustively checked.

Career chronology

• 20 March 2014 onward: Mitchell Services Limited — Chief Executive Officer. Annual Report 2026 (2026 annual report, printed pp. 8–9 (PDF pp. 10–11), visually inspected)

• From March 2010; precise dates and title unknown: Mitchell Group — Senior drilling roles. Annual Report 2026 (2026 annual report, printed pp. 8–9 (PDF pp. 10–11), visually inspected)

• Before March 2010; exact dates unknown: Boart Longyear — Senior roles. Annual Report 2026 (2026 annual report, printed pp. 8–9 (PDF pp. 10–11), visually inspected)

Education and qualifications

Issuer-reported qualifications

Reported August 2026 · issuer reported · low materiality

The FY2026 annual report lists BCom, FCPA, MBA and GAICD. These qualifications have not been independently verified with the awarding institutions or professional bodies.

Attribution: Responsibility not applicable. Qualification claims are attributed to the issuer and were not independently verified.

Relevance: Professional training is relevant to the executive role.

Annual Report 2026 (printed p. 9 (PDF p. 11), visually checked)

Contributions and company outcomes

FY2026 earnings and cash flow improved sharply

Year ended 2026-06-30; announced 2026-08-24 · issuer reported · medium materiality

Mitchell Services reported FY2026 EBITDA of A$42.8m, up 67% on FY2025; profit after tax of A$15.2m versus A$0.5m; operating cash flow of A$37.4m, up 107%; and net cash A$3.5m versus net debt of A$8.4m at FY2025 year-end. The company declared a 2.0c fully franked final dividend, bringing FY2026 dividends to 6.0c/share. Chairman Nathan Mitchell described the result as among the strongest in the company’s history. The company statement does not quantify individual executive contributions.

Attribution: Role overlaps event; causation unproven. The performance figures are company-wide. Nathan Mitchell publicly commented as Executive Chairman, but this does not establish that any named executive individually caused the results.

Relevance: Operating and financial execution is relevant to executive suitability; the outcome provides a measured company benchmark.

Annual Report 2026 (printed pp. 3–4 and 22 (PDF pp. 5–6 and 24), visually checked)

September 2026 quarter included an insurance benefit

Quarter ended 30 September 2026 · issuer reported · medium materiality

For the September 2026 quarter the company reported revenue of A$66.5m and EBITDA of A$18.7m. EBITDA included a one-off A$3.4m Grosvenor underground insurance benefit; underlying EBITDA was A$15.3m, up 29% against the corresponding prior-year quarter. Figures are unaudited management accounts.

Attribution: Role overlaps event; causation unproven. Elf signed the update as CEO; the performance is company-wide and causation is not individually established.

Relevance: The distinction between recurring performance and insurance receipts supports an assessment of operating delivery.

Quarterly Investor Update (pp. 1–2, record earnings and underlying EBITDA)

Industrial safety

Serious hand injury and rig suspension

FY2023 Q2 · issuer reported · medium materiality

The company said a worker sustained a serious hand injury in the December 2022 quarter, and five rigs were suspended for about a month during the associated investigation. It expected a full recovery. The underlying investigation and final findings were not found.

Attribution: Role overlaps event; causation unproven. Elf was CEO during the period; the source establishes no individual fault or finding against him.

Relevance: Operational safety and the response to a serious injury are material to drilling leadership.

Quarterly Investor Update (p. 1, Health & Safety)

Evidence gaps

• Independent verification of qualifications and complete prior-employer tenure was not obtained.

• The search is limited open-web screening; court, regulator, sanctions and professional records were not exhaustively checked.

• The final findings and worker recovery after the December 2022 hand injury were not obtained.

Career chronology

• 2014 onward; exact appointment date independently unverified: Mitchell Services Limited — CFO and Company Secretary. Annual Report 2026 (2026 annual report, printed pp. 8–9 (PDF pp. 10–11), visually inspected)

• From April 2014: Mitchell Services Limited — Group Financial Controller. Acquisition and capital raising presentation (p. 27, executive biography)

Education and qualifications

Issuer-reported qualifications

Reported August 2026 · issuer reported · low materiality

The FY2026 annual report lists BCom (Hons) and CA. These qualifications have not been independently verified with the awarding institutions or professional bodies.

Attribution: Responsibility not applicable. Qualification claims are attributed to the issuer and were not independently verified.

Relevance: Professional training is relevant to the executive role.

Annual Report 2026 (printed p. 9 (PDF p. 11), visually checked)

Contributions and company outcomes

FY2026 earnings and cash flow improved sharply

Year ended 2026-06-30; announced 2026-08-24 · issuer reported · medium materiality

Mitchell Services reported FY2026 EBITDA of A$42.8m, up 67% on FY2025; profit after tax of A$15.2m versus A$0.5m; operating cash flow of A$37.4m, up 107%; and net cash A$3.5m versus net debt of A$8.4m at FY2025 year-end. The company declared a 2.0c fully franked final dividend, bringing FY2026 dividends to 6.0c/share. Chairman Nathan Mitchell described the result as among the strongest in the company’s history. The company statement does not quantify individual executive contributions.

Attribution: Role overlaps event; causation unproven. The performance figures are company-wide. Nathan Mitchell publicly commented as Executive Chairman, but this does not establish that any named executive individually caused the results.

Relevance: Operating and financial execution is relevant to executive suitability; the outcome provides a measured company benchmark.

Annual Report 2026 (printed pp. 3–4 and 22 (PDF pp. 5–6 and 24), visually checked)

Business failures and setbacks

Contract receivable impairment and settlement

FY2021–FY2022 · issuer reported · medium materiality

The group disclosed A$9.625m in unpaid SMS contract invoices and a FY2021 impairment after the contract ended. It agreed an A$5m settlement; the 2022 annual report confirms all three instalments were received, with an additional GST-related impairment reversal. The remaining unpaid gross balance was written off.

Attribution: Role overlaps event; causation unproven. Switala held the finance role during the period; the records do not identify personal causation or misconduct.

Relevance: The outcome provides context on credit, collections and contract risk.

Annual Report 2022 (printed p. 51, trade receivables and impairment)

Evidence gaps

• Independent verification of qualifications and complete prior-employer tenure was not obtained.

• The search is limited open-web screening; court, regulator, sanctions and professional records were not exhaustively checked.

• Direct contribution and personal decision-making on the historical SMS contract were not established.

Career chronology

• Joined leadership in 2016; title in August 2026: Mitchell Services Limited — General Manager, People, Risk and Sustainability. Josh Bryant profile (Issuer-attributed biography, 20 August 2026)

• Prior to Mitchell; exact dates and sites incomplete: BHP and Xstrata — Operational and safety management roles. Historical award winners (p. 43, 2020 professional award profile)

Personal achievements

Professional body credits risk-management leadership

2016–2020 · documented · medium materiality

AusIMM’s 2020 award profile identifies Bryant’s leadership in Mitchell Services’ shift in safety practices and reports improved injury frequency and severity during the period it reviewed. Its recognition is not an independent evaluation of every later incident.

Attribution: Individual involvement documented. The award profile expressly credits Bryant’s leadership; company outcomes remain influenced by the wider team.

Relevance: His documented safety-system leadership is relevant to a high-risk drilling operation.

Historical award winners (printed p. 43, Josh Bryant 2020 award)

Industrial safety

Recordable injury frequency increased in FY2026

Years ended 30 June 2025 and 2026 · issuer reported · medium materiality

The FY2026 annual report gives total recordable injury frequency of 8.3 for FY2026 versus 7.1 in FY2025. The same table presents safety performance as an option-vesting consideration.

Attribution: Role overlaps event; causation unproven. Bryant was named GM People, Risk and Sustainability in August 2026; the issuer figures do not establish his individual responsibility for injuries.

Relevance: The reported safety trend is material context for the safety leader’s role.

Annual Report 2026 (printed p. 22, PDF p. 24; visually inspected)

Suitability for the current role

Relevant leadership background, with evidence limits

2016 onward; exact appointment date unknown · analyst inference · low materiality

The cited record identifies Josh Bryant as General Manager, People, Risk and Sustainability. The role provides relevant experience for a drilling-services business; this is an analyst inference based on the disclosed role, not an independent verification of all prior experience.

Attribution: Responsibility not applicable. The inference follows the documented role and does not establish a specific outcome or responsibility.

Relevance: Role experience is relevant to the company’s operating, commercial and safety needs.

Josh Bryant profile (Issuer-sourced profile dated 20 August 2026)

Evidence gaps

• Independent credential records and comprehensive prior-employer histories were not obtained.

• Targeted open-web searches are limited screening, not a legal, criminal, sanctions or professional clearance.

• The exact terms of earlier BHP and Xstrata appointments and independent degree records are unavailable.

Career chronology

• Before joining Mitchell; dates unknown: HDR / Salva Resources — General Manager Business Development. Todd Wild profile (Issuer-attributed biography)

• October 2015 onward; exact commencement day unknown: Mitchell Services Limited — General Manager, Commercial. Contact (Issuer contact page, accessed at cutoff; undated)

Suitability for the current role

Relevant leadership background, with evidence limits

October 2015 onward; exact commencement day unknown · analyst inference · low materiality

The cited record identifies Todd Wild as General Manager, Commercial. The role provides relevant experience for a drilling-services business; this is an analyst inference based on the disclosed role, not an independent verification of all prior experience.

Attribution: Responsibility not applicable. The inference follows the documented role and does not establish a specific outcome or responsibility.

Relevance: Role experience is relevant to the company’s operating, commercial and safety needs.

Contact (Issuer contact page, accessed at cutoff; undated)

Evidence gaps

• Independent credential records and comprehensive prior-employer histories were not obtained.

• Targeted open-web searches are limited screening, not a legal, criminal, sanctions or professional clearance.

• The current issuer contact page is undated; cutoff-date continuity is supported by historical disclosures but not an independently dated October appointment.

Career chronology

• As of September 2026; exact start unknown: Mitchell Services Limited — General Manager, Business Services. DRILL26 speakers (DRILL26 speaker biography, September 2026 conference)

Personal achievements

Conference identifies a senior shared-services role

2015–September 2026 · documented · medium materiality

The drilling industry association’s 2026 conference speaker biography describes Wright as Mitchell’s GM Business Services, overseeing HR, assets, maintenance, supply chain and IT. The issuer’s 2015 presentation attributes the founding and later sale of Capricorn Weston Drilling to a Cameron Wright; the intervening biography is consistent but the records do not establish every intervening date.

Attribution: Individual involvement documented. The conference identifies his current role; the 2015 company presentation identifies his reported earlier enterprise.

Relevance: Relevant operational and services experience, subject to date and independent outcome checks.

DRILL26 speakers (Cameron Wright speaker biography); Acquisition and capital raising presentation (p. 27, Cameron Wright biography)

Suitability for the current role

Relevant leadership background, with evidence limits

As of September 2026; exact start unknown · analyst inference · low materiality

The cited record identifies Cameron Wright as General Manager, Business Services. The role provides relevant experience for a drilling-services business; this is an analyst inference based on the disclosed role, not an independent verification of all prior experience.

Attribution: Responsibility not applicable. The inference follows the documented role and does not establish a specific outcome or responsibility.

Relevance: Role experience is relevant to the company’s operating, commercial and safety needs.

DRILL26 speakers (DRILL26 speaker biography, September 2026 conference)

Evidence gaps

• Independent credential records and comprehensive prior-employer histories were not obtained.

• Targeted open-web searches are limited screening, not a legal, criminal, sanctions or professional clearance.

• The September conference programme does not independently prove the role continued on 31 October.