DATAWORKS GROUP LIMITED — Capital/Financing Update 2017

Nov 14, 2017

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ASX release

IXUP lists on ASX following a heavily over-subscribed IPO

15 November 2017: The Board of IXUP (ASX: IXU) is pleased to announce the listing of the Company on the ASX following a successful IPO. $12.5 million was raised at a price of $0.20 cents per share with a market capitalisation of $31.7 million.

The IPO, led by Cygnet Capital, received strong support from retail and strategic investors, alongside several high quality institutional investors resulting in the offer being heavily oversubscribed.

IXUP is an Australian software company with a unique technology that is redefining the way organisations securely collaborate on multiple data sources to unlock the true value of their data.

Funds raised in the IPO will be used to further develop the IXUP data collaboration platform, drive commercialisation and the development of relationships with existing and new partners, and onboarding new customers to the IXUP platform.

IXUP Executive Chairman Tim Ebbeck said:

“The world’s most valuable resource is no longer oil, but data[1] , yet organisations are rightly not comfortable in sharing data to leverage value. IXUP changes that. The IXUP platform allows organisations to collaborate information safely, gain optimal insight and unlock the true value of their data.

IXUP has the potential to become the global technology standard in data collaboration and listing on the ASX is the next exciting step in the path to realising that potential. We appreciate the tremendous support the IPO has attracted from retail and institutional investors who share our vision and belief in the future of data collaboration.

On behalf of the Board, I would like to take this opportunity to thank the founder of IXUP, Dean Joscelyne, and his outstanding team, who invested the past six years creating and refining this unique technology. It is Dean’s vision, and their shared commitment and energy, that has built IXUP and created this important opportunity for Australian technology. Dean is an amazing Australian innovator with a global vision.

I also want to thank all of the earlier stage investors for their support on this journey. I look forward to ongoing and regular communication with all shareholders as we progress along the path of commercialising IXUP.”

1 The world’s most valuable resource is no longer oil, but data, The Economist 6 May 2017

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Redefining data collaboration

Big data and analytics is a rapidly growing US$150 billion market[2 ] but data is most often stored in silos that can’t readily communicate with each other. IXUP’s technology enables businesses to use data in a different way, encouraging them to collaborate, helping them identify correlations and make the most of their data assets, resulting in significant commercial benefits.

IXUP’s patented intellectual property allows each collaborator to load data onto the IXUP platform, without the need to de-personalise data and without involving unnecessary data brokers. Data is uniquely encrypted in the platform and the encryption keys are always held by the data owner who retains complete control of their data during collaboration. Matching data across silos provides new insights in a secure environment, overcoming the privacy and security issues which are of such concern to all organisations.

As the IXUP Platform is collaborative, almost every organisation that deals in large amounts of business data is a potential user. And since the platform is technology agnostic , almost every software, analytics and services provider is a potential partner.

The company has secured agreements with Australian financial institutions and service providers, and leading management consultants, software companies and system integrators. These include Microsoft, Dimension Data, Empirics and KPMG, servicing clients in healthcare, banking, government, insurance and other sectors.

IXUP is about to release the third generation of its platform, having created the first prototypes in 2011. The company’s business model is based on a recurring software as a service (SaaS) model with services provided by partners.

The company’s board is led by executive chairman Tim Ebbeck , former Managing Director of Oracle in Australia and New Zealand and CEO of SAP in Australia and New Zealand. IXUP’s founder, Dean Joscelyne , is an executive director. Clifford Rosenberg , also a non-executive director of ASX-listed Afterpay Touch Group, Nearmap, Cabcharge Australia and Pureprofile, and the former managing director of LinkedIn for South East Asia, Australia and New Zealand for over seven years, has also joined the board.

The company has also established an Advisory Board chaired by former IBM Australia New Zealand Managing Director, Glen Boreham AM , who is also a non-executive director of ASX listed Southern Cross Media Group Limited, Link Administration Holdings Limited and Cochlear Limited. The Advisory Board also includes Peter Chapman , founder of the Asia Principal Capital Group, an international technology and early stage business accelerator, and a Director and Investment Committee member of Morpheus Ventures, an international venture capital fund.

2 Worldwide Semiannual Big Data and Analytics Spending Guide, International Data Corporation March 2017

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Mr Ebbeck said: “Big data is a great corporate asset, but few organisations have a game plan that can exploit its potential. Data becomes richer and more relevant when it is matched with the data of other organisations in an ecosystem. However, most businesses don’t collaborate because they have limitations in database technology, and they have concerns about data security - sharing data creates challenges and risks.

IXUP addresses these problems and enables the discovery of correlations that unlock the value of data. Richer data arising through collaboration provides a better understanding of, for example, market dynamics, customer behaviour, or risk profiles and these insights then provide organisations the ability to target very specific issues resulting in material business benefits.

This ability to provide real insights across multiple organisations is exciting, and it provides the opportunity for IXUP’s technology to become the global standard in data collaboration.”

-ENDS-

Contact:

Sara Musgrave s.musgrave@fcr.com.au 0425656019

Ashley Rambukwella 0407231282

About IXUP

Founded in 2011, IXUP is next generation software that allows two or more organisations to connect data without necessarily sharing all their information. The company’s disruptive data collaboration platform is equipped with a proprietary patent protected, multi-layer encryption process. The technology helps organisations gain a significant time and cost advantage by eliminating complex challenges around securely connecting and matching data. The platform’s unique approach to matching data enables organisations to create deeper insights to inform strategy and gain a significant competitive advantage. IXUP is headquartered in Sydney, Australia.

For more information, www.ixup.com.

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