EXCITE TECHNOLOGY SERVICES LTD — Capital/Financing Update 2016

Mar 30, 2016

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ASX ANNOUNCEMENT | COVATA LIMITED

Covata Update on Telco Execution in Asia and LatAm, and UK Government

SYDNEY – 31 March 2016

Target Date Set for Corporate Signing Ceremony with one of Asia’s Largest Telecommunications Providers; Chunghwa Telecom

Covata Limited (ASX:CVT) (Covata or the Company) has completed extensive deployment, due diligence and reseller negotiations with Taiwan’s largest Telco, Chunghwa, with the go-to-market launch scheduled for the end of April.

Chunghwa Telecom, with annual revenues circa USD$7.17 billion, is Taiwan’s largest provider of fixed line, mobile, broadband and internet and data services. The company also provides information and communication technology services to corporate and government customers across Asia.

After five months of extensive work, Covata has completed the Safe Share deployment into Chunghwa’s data centre environments and finalised the legal aspects of the reseller agreement. April sees both companies’ management come together for go-to-market strategy sessions and contract signing. The two Companies intend to hold a signing ceremony to formally launch the go-to-market of Safe Share to enterprise customers the week ending the 22nd of April in Taipei.

The agreement is set in US dollars and the net price per user is consistent with previous guidance for revenue per seat to Covata.

LatAm Telco set to Seal Partnership with Covata to Service Government, Enterprise and Financial Institutions within the First Weeks of April

The Company is in the final turn of contract negotiations with a leading telecommunications provider in Latin America to deliver secure enterprise grade file sharing to their rapidly expanding government and enterprise customer base.

The signing, which has been delayed due to the Easter break and the Telco’s EOFY falling this week, is set for early April by the Regional GM. It is the culmination of four months of product testing, market assessment and negotiation of the reseller agreement.

The agreement is set in US dollars and the net price per user is consistent with previous guidance for revenue per seat to Covata.

©2015 Covata Limited or its affiliates

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Trent Telford, Covata CEO, said, “We have diligently focused in Q3 on securing a partnership within Latin America. This partnership reflects the growing need for security products within the Caribbean islands and Latin America, where large multinational banks and enterprises are setting up global operations. The desire to securely share information to and from international clients is paramount to the success of these entities and we feel confident that alongside our [to be named] partner Safe Share will meet these needs.”

UK Government and Reporting

At the outset of Q3 the Company committed to securing two new Telco reseller partners and UK government business. We are confident this is on track acknowledging that it is not unusual for contract signing to roll into the following quarter for deals agreed during the period.

Further to this, the finalisation of the agreements surrounding the Government tender announced on the 29[th] of February will be made public once the contracts with the Prime are executed. Final contract negotiations with the Prime are underway (Reseller agreement following the NDA) and we anticipate this to be completed within April, with the details of the Government customer and rollout to follow.

In addition to this, the broader UK Government pipeline is firming up strongly as anticipated, and we expect to announce more details on these achievements in April.

As previously advised in the Q2 Business Update, Covata Management will release a Q3 business update to the market alongside the Q3 Appendix 4C at the end of April covering existing and new business.

Media and Investor Relations:

Nikki Parker

Vice President Growth and IR

Covata

+1 (571) 353-4273

nichola.parker@covata.com

Chris Tyson

Managing Director

MZ Group +1 (949) 705-8904

chris.tyson@mzgroup.us

©2015 Covata Limited or its affiliates

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About Covata

Covata enables true ownership and control over your data in the cloud and over mobile services. We deliver data-centric security solutions without compromising simple usability, providing true end-to-end security. Your data is always protected wherever it may travel – inside your network, beyond the domain, to mobile devices and to the cloud – with granular access controls that extend to external users, view-only restrictions, real-time revocation and complete visibility and auditability.

Own Your Data, control your data and choose where it is stored – with complete assurance that it is protected and secure. For further information please visit Covata.com.

©2015 Covata Limited or its affiliates