DATAWORKS GROUP LIMITED — Capital/Financing Update 2024

Aug 25, 2024

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26 August 2024

PROJECT ANNOUNCEMENT CONFIRMS PLANNED INITIAL DEPLOYMENT OF IXUP CORE TECHNOLOGY INTEGRATED WITH MICROSOFT AZURE

HIGHLIGHTS:

• IXUP expected to deploy its Secure Data Engine and 5-Safes governance framework, delivered via Microsoft Azure, to power the Western Australian Government funded Shared Environmental Analytics Facility (SEAF).

• The SEAF deployment is in conjunction with Microsoft, The Western Australian Biodiversity Science Institute (WABSI), the Western Australian Marine Science Institution (WAMSI) and Australian Research Data Commons (ARDC) and recognises IXUP’s industry leading encryption capabilities.

• The SEAF project was formally launched on Monday 26[th] August 2024 by WABSI and WAMSI, at an event which also included the Western Australian Science Minister Stephen Dawson and the Environmental Protection Authority Deputy Chair Lee McIntosh, which outlined IXUP’s involvement in this groundbreaking data sharing project.

• While contract terms are largely documented, final contract details for IXUP’s important role in the SEAF deployment will be confirmed once contract execution is completed in coming weeks.

• The SEAF capabilities facilitate the management and collaboration of sensitive environmental data from several of the nation’s largest organisations with project partners including Rio Tinto, BHP Billiton, the Western Australian Government and others.

• The deployment of the SEAF solution is planned to initially commence in two regions, being the Pilbara and Cockburn Sound, with further plans in development to extend to new priority regions.

• According to PWC’s publicly available report on the SEAF project, SEAF has potential to generate $1.6 billion in NPV over the next ten years, once fully rolled out, in the Cockburn and Pilbara regions alone.

• The Board of IXUP expects this implementation by SEAF to be a catalyst for additional sales opportunities after a multi-year software development period.

• The Board thanks its stakeholders for their patient support over this long development cycle.

• In addition to the roll-out of SEAF, potential exists for the broader global roll-out of the IXUP Secure Data Engine as well as automated data sharing agreements powered by IXUP’s 5-Safes governance framework within the Microsoft Azure environment, post the successful launch of SEAF.

IXUP Limited (“ IXUP ” or “the Company ”) (ASX: IXU) today acknowledges the formal launch of the SEAF project developed by the Western Australian Biodiversity Science Institute (WABSI) and the Western Australian Marine Science Institution (WAMSI). This groundbreaking data sharing project includes IXUP’s core secure collaboration technology and 5-Safes governance framework which is to be deployed in a Microsoft Azure environment. The SEAF project will launch with a pilot enabling the streamlining of shared environmental data, environmental modelling and assessment and will involve multiple tier 1 stakeholders, including the Western Australian Government, Rio Tinto and BHP Billiton.

At a press event on Monday 26[th] August 2024 in Perth, the SEAF was formally launched by WABSI and WAMSI. The event also included the Western Australian Science Minister Stephen Dawson and

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the Western Australian Environmental Protection Authority Acting Chair Lee McIntosh, which outlined IXUP’s planned involvement in this groundbreaking data sharing project.

IXUP can confirm that final contract terms are now largely documented for its important role in the SEAF deployment, with contract signing anticipated in coming weeks. Details of the expected contract terms can be found on page 3 of this announcement, with final details to be confirmed by IXUP once the contract is completed, with work to commence immediately thereafter.

IXUP’s CEO, Mr. Al Watson, commented:

“Over the past eight years, IXUP has invested over $30 million in developing its data privacy and encryption software and governance platform. We are delighted that after extensive evaluation, the SEAF initiative has sought out IXUP as an integral part of SEAF. Initial SEAF partners include the Government of Western Australia, Microsoft, WAMSI, WABSI, Rio Tinto, BHP and others.

We are encouraged by the quality of our partners and the rigour with which IXUP’s selection has been undertaken over the past two years. This outcome, which will see IXUP’s globally unique IP being commercialised for the first time, is a testament to the quality and uniqueness of the developed technology and our team.

We expect this to be the first of many applications of IXUP’s core technology and look forward to working with various partners to explore the global applications of our technology in similar use cases, which require multiple parties to collaborate on sensitive data”.

Commenting on behalf of Microsoft, Data and AI Specialist Dr Emma Burns, said:

“The SEAF solution was conceived with a specific aim, to develop a standalone analytics platform that combines both unsecure and secure data transfer and collaboration with a robust governance framework. IXUP’s capability to help ensure secure data collaboration is a crucial element of SEAF. We have worked closely with IXUP over the past two years to deploy their unique secure data collaboration and governance solution within Microsoft Azure. We look forward to working with IXUP in coming years with the aim of targeting other global environmental data related applications.”

Commenting on behalf of WABSI and WAMSI, WABSI CEO Professor Owen Nevin, said:

“WABSI and WAMSI have developed SEAF to meet a local and global demand for more information about cumulative pressures on the environment. The key benefit of SEAF is that it unlocks the real value of environmental information available. It transforms science and shared data into useable tools, enabling decision-makers from industry, government and regulators to make more robust, repeatable and sustainable decisions. By delivering a product and governance model that allows stakeholders to perform analytics over shared, encrypted environmental data held within Microsoft's Azure platform, IXUP is crucial to the success of the SEAF program. We look forward to working with the IXUP team in the coming years as this important project comes to life.”

This initial deployment represents a measured launch of the SEAF platform and is initially funded for two important regions of the Pilbara and Cockburn, which represent 2 of the priority regions that are under consideration for rollout in the coming years. IXUP notes that rollout to additional regions in Western Australia requires confirmation of successful deployment in the two initial regions, plus confirmation of additional funding.

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Background to SEAF

A Shared Environmental Analytics Facility (SEAF): Translating science knowledge and data analytics into streamlined decisions.

SEAF is a mechanism for interpreting environmental data that has been developed in consultation with end users and stakeholders. It enables a trusted data and information supply chain that generates information products, like maps, reports and forecasting tools for use in research and decision making.

For more information: https://wabsi.org.au/our-work/projects/seaf/

Anticipated Details of Contract

With the SEAF project now formally launched, IXUP and WABSI intend to sign, in the coming weeks, a multi-year agreement with IXUP, to deploy IXUP’s secure data collaboration platform and 5-Safes Governance Framework for use in the SEAF project. Details of the contract to be signed are shown below, noting that IXUP will confirm all final contract details once the contract is formally executed.

Counterparty: WABSI

Length of Contract: 2 years

Aggregate revenue: Expected initial 2-year contract period minimum of AUD $240,000

Other:

This commercial deployment represents the first of an anticipated multi-stage expansion of the contract, which has potential to expand significantly through the addition of future SEAF deployments. IXUP looks forward to deploying the initial two regions in conjunction with all stakeholders and to engaging in potential expansion opportunities.

-ENDS-

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(Western Australian Science Minister Stephen Dawson presenting at the formal launch of the SEAF project today. The launch outlined IXUP’s involvement in this groundbreaking data sharing project.)

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This announcement has been approved for release by the Chairman of IXUP.

For enquiries regarding this release please contact:

IXUP Mr Julian Babarczy Chairman contact@ixup.com

To learn more, please visit: www.ixup.com. IXUP’s registered address is Tenancy 1004, Building 10 Sub base Platypus, 120 High Street North Sydney NSW 2060.

About IXUP

IXUP Limited (ASX: IXU) (pronounced ‘eyes up’) is a pioneering technology company with a world class suite of software products that facilitate the secure sharing and analysis of sensitive information using advanced security technology. The Company’s Secure Data Collaboration Suite of products represent the missing ‘key’ to organisations ‘unlocking’ their information assets previously unable to be shared or commercialised due to concerns around privacy, cyber security, and compliance considerations. These data collaboration products are being commercialised at a crucial junction when the need to share and drive revenue from sensitive data and dormant data assets is becoming more important yet more difficult to achieve.

IXUP is also the developer and operator of the BetStop - National Self Exclusion Register[TM] , under exclusive contract with the Commonwealth Government of Australia via the Australian Communications and Media Authority . BetStop - the National Self Exclusion Register allows Australians to easily selfexclude from all licensed interactive wagering services for a minimum of 3 months and up to a lifetime.