BEAMTREE HOLDINGS LIMITED — Capital/Financing Update 2021

Mar 1, 2021

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ASX Announcement

PKS Holdings Limited (ASX: PKS)

Sydney, 2 March 2021

PKS Director participation in recent placement

In strong support of the growth strategy and recently appointed CEO Tim Kelsey, The Board of PKS Holdings Limited is pleased to confirm the direct and indirect board member commitments following the $12 million Placement (“Placement”) from new and existing institutional and sophisticated investors of 34,285,714 fully paid ordinary shares (“Shares”) in the Company at $0.35 per share, allotted 1 March 2021.

Non-Executive Directors’ Andrew Gray and Stephen Borness received an allocation in the Placement. New Shares allocated to these parties, totalling 6,342,857 will only be issued subject to receiving shareholder approval at an Extraordinary General Meeting (“ EGM ”). The EGM is expected to be held on, or around, mid April 2021, subject to regulatory approval. Assuming approval, their individual holdings will be as follows:

• Andrew Gray, via his nominee will increase by $1.75m. This increase will add 5m shares for a total holding of 6.25m shares (approximately 2.9% of total issued shares of the Company)

• Stephen Borness, via his nominee will Increase by $470,000. This increase will add 1,342,857 shares

  • for a total holding of approximately 11.3m shares, and becoming a substantial holder (1)

Indirectly, Investment funds associated with Chairman Mike Hill and Non-Executive Director Brad Lancken also participated in the placement as follows:

• Mike Hill: The Bombora Special Investment Growth Fund increased its stake by approximately $1.75m – Substantial Notice has been issued to the ASX today; and

• Brad Lancken: The Inspire Australian Equities Fund by approximately $200,000.

Chairman Mike Hill commented; “I’d like to thank, along with our new and existing institutional and sophisticated investors, our Non-Executive Director’s for their increased support. This highlights the strong support of the board behind the growth strategy as set out by Tim Kelsey and presented to all shareholders in its release dated 23 February 2021. PKS has a unique opportunity to transform information and knowledge management in global health care, building on our trusted credentials in data quality, clinical informatics and the automation of human expertise.

This release has been endorsed by the Board.

-END-

(1) Notice of which will be made following the EGM

For further information please contact:

Tim Kelsey CEO PKS Holdings Phone: 0476 835 311

Mike Hill Chairman, PKS Holdings Phone: 0421 056 691

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About PKS

PKS is an Australian Healthcare company that works with health organisations around the world to better capture, manage and leverage their human expertise to improve the performance of their business and deliver better patient outcomes. PKS’ products have a broad range of applications across the healthcare services industry. The key value propositions of the PKS’ suite of software applications focus on and have the potential to:

• Clinical Decision Support, which enables better decision making, leading to improved patient outcomes and a reduction in medical errors;

• Improve operational efficiency, with opportunities for significant cost savings and revenue improvements;

• Improve the quality of data, which makes the billing processes in healthcare organisations more accurate and more efficient; and

• ● Leverage off data analytics and benchmarking, which provides insights into healthcare data and enables healthcare organisations to improve the quality of patient care.

With the recent acquisition of Pavilion Health, the suite of software products now consists of:

• RippleDown® enables any clinical domain expert – typically a pathologist or clinician – to automate their unique, human decision-making process at scale in order to provide real-time clinical analysis, interpretations and treatment recommendations. By aggregating and analysing all available patient information – including current and historical results – RippleDown® is able to provide a holistic view of patients to generate the most comprehensive and patient-specific interpretations and recommendations.

• RippleDown® is managed by domain experts, not IT, enabling rules to be built quickly and easily to ensure the system remains updated and relevant.

• PICQ® is an auditing tool used in hospitals that assesses every record clinically coded for data quality. It measures data accuracy against indicators and identifies records for correction and uses a set of pre-determined indicators created and maintained by PKS’ subject-matter experts to identify records that may be incorrectly coded.

• RISQ[TM] Reviews records in datasets to assess the quality of Condition Onset Flags (COF) data and incidences of hospital-acquired complications (HACs). It provides a method to benchmark hospitals against statistical peers to provide industry benchmarks of HAC incidence and underlying data quality.

• Codexpert[TM] is a web-based eBook application providing the full health-data classification reference for clinical coding of patient episodes.

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