DATAWORKS GROUP LIMITED — Capital/Financing Update 2021

Jul 15, 2021

16 July 2021

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IXUP accelerates US market entry strategy

HIGHLIGHTS:

• IXUP incorporates US subsidiary (IXUP Inc.) and commences business operations in the US.

• IXUP executes assignment agreement with Data Republic Inc. to assume the obligations and rights of a software and service level agreement.

• IXUP secures employment of key employees previously working for Data Republic in both Australia and the US, to provide ongoing support to current and new customers.

• IXUP Inc. established as US beachhead to also facilitate the planned expansion of IXUP’s global sports data initiatives (including the acquisition of DataPOWA Limited due for completion post the scheduled EGM at the end of July 2021).

IXUP Limited (“ IXUP ” or “the Company ”) (ASX:IXU) is pleased to announce it has entered into an assignment agreement with Data Republic Inc. ( Assignment Agreement ) in relation to the rights and obligations under a SaaS software and service level agreement previously between Data Republic Inc. and a US based health Insurer, for the provision of certain secure data collaboration software and support services.

Background

On 11[th] June 2021, IXUP announced the completion of a transaction which saw it acquire the entire intellectual property and associated technology product portfolio of Data Republic Pty Ltd (in Administration). Since acquiring these assets, IXUP has been in discussions with a number of Data Republic’s past customers who have expressed interest in a continuation of services that were previously operated by Data Republic Pty Ltd and/or its related international entities.

Details of the Assignment Agreement

Whilst the terms of the assignment are not material in nature for IXUP, the Assignment Agreement effectively replaces Data Republic Inc. with IXUP Inc. and facilitates IXUP to commence its business operations in the US and initiate the planned expansion of IXUP’s global sports data initiatives.

Under the Assignment Agreement, IXUP Inc. will supply its “Sandbox” product as a software-as-aservice ( SaaS ). The Sandbox product allows customers to conduct various data collaboration projects, including hackathons and datathons, with a range of third party participants, which customers may invite to participate. Customers are required to acquire platform licences for each data collaboration project conducted based on the number of users and duration of the project. The fees for platform licences will vary based on rates set out in a Statement of Work.

Incorporation of IXUP Inc.

To underpin additional US commercialisation efforts for the IXUP data collaboration technology solution, IXUP is also pleased to advise that it has established a wholly owned US entity, IXUP Inc.

IXUP has also now finalised the hiring of several ex-Data Republic employees in both Australia and the US, in essential roles ranging from technical development and product support, through to sales and client servicing, which will ensure the seamless operation of the IXUP data collaboration solution.

Commenting on the Assignment Agreement, Mr. Marcus Gracey, CEO of IXUP said, “a key rationale underpinning our opportunistic acquisition of the Data Republic intellectual property assets was to complement our existing data collaboration product suite with Data Republic’s products and service offering. Combining the two technology stacks provides for a compelling, and in our view unmatched, end to end secure data collaboration suite of products, with the intent to continue to provide services to previous Data Republic and other new customers. We have also secured the services of several key employees to assist in servicing customers and look forward to further commercialising the entire IXUP suite of products to a broader global customer base. I take this opportunity to sincerely thank all the

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previous Data Republic employees who have now joined the IXUP team, for their patience and trust in electing to join our exciting commercialisation journey.”

IXUP is continuing to assess and negotiate additional commercialisation opportunities with prior Data Republic customers, with the potential to also introduce IXUP’s existing more secure data engine to service their needs and it is anticipated that these discussions will progress in earnest. The Company will update the market in due course on sales contract discussions.

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

-ENDS-

For enquiries regarding this release please contact:

IXUP Marcus Gracey CEO – IXUP Limited contact@ixup.com

Investor relations Julia Maguire Executive Director – The Capital Network julia@thecapitalnetwork.com.au +61 02 8999 3699

About IXUP

IXUP Limited (ASX:IXU) (pronounced ‘eyes up’) is a pioneering technology company that has developed world class software facilitating the secure sharing and analysis of sensitive information using advanced encryption technology. The Company’s Secure Data Engine is 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. IXUP’s Secure Data Engine is 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.

To learn more, please visit: www.ixup.com. IXUP’s registered address is Level 3, 223 Liverpool Street, Darlinghurst NSW 2010.