ASSET VISION CO LTD — Capital/Financing Update 2022

Aug 2, 2022

Level 11, 410 Collins Street Melbourne, Victoria Australia, 3000

www.futurefirsttech.io

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+61 3 9682 2699

3 August 2022

ASX ANNOUNCEMENT

Formal Business Sale Agreement Executed for Farmbuy.com

Future First Technologies Ltd (ASX: FFT ) ( FFT or the Company ) is pleased to announce it has today executed a formal Sale of Business Agreement ( SBA ) with Australian Community Media ( ACM ) to purchase all the Business Assets associated with the Farmbuy.com business.

The execution of the SBA is on the same terms as the Binding Heads of Agreement announced to the market on 1 July 2022.

Again, this is an important milestone for the Company, allowing it to focus its resources on accelerating the growth of the Asset Vision Software-as-a-Service leveraging last year’s Eaglesoft acquisition.

Importantly, the divestment of Farmbuy.com will have a positive impact on operating cash flows of approximately $1.75 million through a combination of a reduction in executive resources, rationalisation of Melbourne office accommodation and operating cash that would otherwise be directed to the Farmbuy.com business.

The Board of FFT looks forward to releasing the FY22 financial results and outlining its strategy for growth across FY23 and beyond.

This announcement has been authorised for release by FFT’s Board of Directors.

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