FIRST LITHIUM LIMITED — Investor Presentation 2018

Feb 5, 2018

LIMITED ACN: 009 081 770

ASX Announcement 6 February 2018

BRON.TECH Q&A

Ookami Limited (ASX: OOK) ( OOK or the Company ) is pleased to provide the following Bron.Tech Q&A for award winning company Brontech Pty Ltd, in which the Company recently acquired an 18.23% strategic equity position.

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About Brontech

Brontech is Sydney based company that is pioneering a blockchain backed platform for data exchange and identity management. The company is also building complementary proprietary applications to extract data from various sources and pack them into anonymised data products that are sold to corporations and SMEs as insights and research tools. In its diverse data product offering is also included the MyBron API that enables individuals and companies to exchange verified information in a Peer-to-Peer manner where the data is verified through the company’s proprietary identity verification protocol that pulls data from diverse set of sources.

Individuals and entities can find more information on Brontech’s products at www.bron.tech

About Akela

Akela’s proprietary financial services software and transaction management platform provides Australian Financial Services Licence (AFSL) holders a streamlined total management solution to capital raisings and distribution of public and private offerings. Akela is a unique ‘Service Platform’ with Peer-to-Peer (P2P) community, Business-toBusiness (B2B), KYC) and compliance and data collection & analytics capabilities.

Individuals and entities can continue to register on the platform and gain access to current and future offerings at www.akela.vc

About Akela Mobile App

iOS and Android users have access to the Akela Platform mobile app via the App Store and Google Play. The app will be initially free for all users, but will require a membership with the Akela Platform to use. Once logged into the app, investors will be linked with their account. Your investment progress will be linked across any device that you log in from. The mobile app is another tool that the Akela Platform provides to give you the best investment experience on the web.

LIMITED ACN: 009 081 770

For further information, please contact: Corporate Advisors Otsana Capital 108 Outram Street West Perth WA 6005 Telephone: +61 8 9486 7244 www.otsana.com

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Q&A

Bron.Tech is currently using the Ethereum Blockchain. What are the limitations of the Ethereum Blockchain and how are they going to be overcome?

Like other blockchain systems, Ethereum is suffering from the trilemma that at best it can only have two of the following three properties:

• Be decentralised (the system is run by as many participants as possible and everyone, even people with a regular laptop or small VPS can participate)

• Be scalable (able to process many transactions in given time and support many users)

• Be secure (be resistant against attackers)

Different blockchain systems are trying to improve different segments of this trilemma, but that improvement always comes as a trade-off in relation to the other properties (e.g. fast scalable blockchains are less secure or less decentralised).

To estimate how adequate the Ethereum Blockchain is for Bron.Tech’s platforms, it is important to understand why the company is using a blockchain at all. The first use case is simple and that is to manage the native digital currency The Bron (ERC20 token) and create a model of incentivised participation in the Bron ecosystem. The second utilisation of the ledger is to transparently store immutable and accessible cryptographic proofs of particular data snapshots or identity attributes. This is a key feature that will enable Bron.Tech’s data and identity marketplace to be decentralised and at the same time to maintain the integrity of the exchanged information.

For Bron.Tech’s use cases, the biggest limitations of the Ethereum Blockchain is in fact its scalability. However, this does not cause significant lag when experienced by the user as there is another layer of interactions on the Bron platforms to mask the delays. In addition, it is important to note that currently traditional data transfers and identity checks are not instant (including transfer and verification) therefore even the longest delays are still a significant improvement over traditional systems especially when they can be justified with a cost reduction.

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Bron.Tech has reviewed most of the existing DLTs and estimated that Ethereum is the best fit based on the following criteria:

• Ethereum has its own contract-oriented, high-level language for implementing smart contracts (Solidity),

• Ethereum has the most developed stack in comparison to other blockchains,

• Ethereum has the most developed ecosystem and support, - As one of the most popular blockchains, there is significantly more technical talent that can code in Solidity (Ethereum's programming language for writing smart contracts) and use tools built specifically for the Ethereum Blockchain than languages/tools for other blockchains, - Has clear roadmap to improve scalability in the next 3-5 years.

The company is aware of the existence of other blockchain technologies or DLTs, however despite the fact that many of them have detailed whitepapers most of them are not ready for usage. In the tech world, there will always be trade-offs when choosing one tech stack over another and the company’s tech team is examining every possibility to make the most optimal choice.

If Ethereum is lagging in development or becomes obsolete, how difficult is it to transfer the entire Bron infrastructure to another blockchain?

Bron.Tech’s solutions are (partially) agnostic when it comes to blockchain technology as long as the blockchain supports smart contracts. The reasons for choosing Ethereum are explained in the previous question. In case the Ethereum Blockchain proves to be inadequate for Bron.Tech’s purposes, becomes obsolete or another technology emerges to be more efficient the company can migrate to another DLT. In that case, through a democratic process we might ask for an approval from the Bron community to do so. The company will use its resources to map all the transactions between blockchains. Another option is for the company to build infrastructure which supports integration with multiple blockchains and gives users the ability to choose. With cross-chain protocols transactions among blockchains/ ledgers are also possible. As many things in the blockchain ecosystem, interledger protocols are still under heavy development.

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How easy is it for a client to integrate with Bron.Tech?

It is fairly easy to use Bron.Tech’s platform:

Individual users:

• can participate in the ecosystem via web or mobile apps.

Business clients:

• can access, view and interact with customised data products via web or mobile interface;

• need to write only several lines of code to integrate with the Bron API. Clients can integrate the Bron API in their web/mobile apps, chatbots etc.

What are the legislation changes affecting data and how will they impact Bron.Tech?

General Data Protection Regulation (GDPR) comes into force on 25[th] May 2018:

The EU’s GDPR will give individuals higher control over their personal data. Companies will have to provide APIs for their customers to access and extract their information, hence it will be easier to include other data sources in the MyBron platform. The governments are doing this as an anti-trust measure in order to break the monopolistic power of the companies that hold vast amount of data and help increase competitiveness and innovation.

Consumer Data Right (2018)

In May 2017 the Productivity Commission finished its inquiry and published the report on Data availability and Use that advises reforms on how data is handled in Australia. Following the findings, the Australian Government will legislate a national Consumer Data Right, allowing customers open access to their financial, energy, phone and internet transactions. This change will allow Bron.Tech to access additional data sources via APIs.

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Interchange fees cap affects loyalty programs.

The imposed credit card interchange rate (commenced in 2017) pressured many banks to drop or reduce their loyalty programs. This creates a huge opportunity for the Bron token to operate in a less crowded market and to be positioned as a ubiquitous reward currency.

Describe Bron.Tech’s business model. What products/ services is Bron.Tech is selling?

Data products

Organisations pay a lot of money to get insights and understand the market. To derive these insights, they need to access large amounts of data. However, companies usually have information only on their customers and rarely on people who never used their services let alone customers of their competitors. To understand the people outside of their user base, companies are using third party services (data brokers) which are often outdated and not granular enough. Data brokers buy data from other companies in bulk (without the knowledge or consent from the people who created it) and resell it as insights. However, many companies do not want to sell/share data either because they cannot do so (due to regulation) or because they do not want to (because it is regarded as a competitive advantage).

Bron.Tech derives the data and insights directly from the users in the Bron ecosystem, hence the company can update the pool regularly, the data has the proper consents in place to be shared across domains, the data is granular enough to provide accurate insights and the company does not have exclusivity agreements with any major companies (i.e. can share data among competitors). Organisations buy aggregate data products from Bron.Tech at a set price based on the complexity of the analysis, amount of information and granularity. Typical use cases include: data products for overall market analysis (usually used by consultancies), dynamic segmentation, assessment of risk and factors of risk (usually used by insurance companies and FS providers) and neighbourhood analysis (used for real estate development).

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Bron API for identity and personal data transfer

Bron.Tech provides API for seamless transfer and verification of data from your MyBron wallet to a client’s platform. The traditional process of on-boarding to a service is the following. For example, the customer wants to get a loan from Bank A. In order to apply, the customer needs to open an account, fill in a long survey with his/her personal information and transaction history, provide the consent for the bank to access the information. The bank then needs to do a credit check and verify the accuracy of the provided information. In contrast, with the Bron API the user only needs to access some of the interfaces of the bank (can be in the branch or digital) and allows access to already verified information with no more than 2 clicks. The same process can be used for getting a quote for insurance, accessing a fintech product, verifying your identity when talking to customer service (via biometrics support), etc.

Training algorithms

In the past people were building algorithms based on their assumptions. Companies process the input X through an algorithm A to derive the output Y. This is how most of the traditional processes work today including credits score checks, loan approvals, insurance quotes, etc. However, human intelligence is limited in recognising patterns in complex systems. With the developments in machine learning, we can now use granular data as the input X and the output Y and construct the algorithm A based on the patterns that the “machine” has detected. A practical example would be: the company will use 10,000 Bron users to create an algorithm for loan approval by calculating the risk and the factors for default. We will use 70% of the data to train the algorithm and 30% of the data to test it. For example, the input/output pattern may show that people who are paying their phone bill on time are more likely to not default on a loan and that this pattern is more accurate than a typical credit check. The bank can now use this insight, apply it to their 1 million customers and ask for a history of telephone bills when processing loans to assess risk.

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How decentralised systems improve security?

Blockchains are usually used to create a decentralised system i.e. a system which requires multiple parties to make their own independent decisions and no single party is in charge. Most of the organisations that are incorporating blockchains in their solution strive towards building a decentralised system in some way.

Hackers are looking for honeypots of data i.e. places where there is a lot of information about many individuals/companies. Let’s say that hypothetically we have a system with 1 million users. If the hacker wants to access the data of all 1 million users, he/she will only have to attack the single place where that data is stored. In a decentralised scenario, every user stores his/her data in a storage of choice (can be a personal cloud, hardware device, etc.) and they store the cryptographic proofs of the integrity/veracity of this data in a shared ledger (blockchain). This infrastructure will enable people/companies to exchange information in a peer-to-peer manner without compromising its integrity and without the need for it to be stored in a single centralised location. In this scenario, hackers will have to attack each of the 1 million users individually to gain access to the entire pool of data, which is not cost effective. As there is no single point of failure, the entire system is inherently more secure.

What are the implications of the interchange fee cap for the Bron currencies?

In 2017, The Reserve Bank of Australia imposed a cap on credit card interchange fees. Interchange fees are what credit card companies pay the banks each time a customer uses his/her credit card. The new regulation caps the interchange fees at 0.8%, while previously the fees could go as high as 3%. This indirectly affects loyalty programs as the banks are using these fees to buy rewards points such as frequent flyer miles or similar. As long as the cap is high enough, the bank makes both a profit and pays for the incentives for users to stick with their brand. These schemes create vast supply of data in regard to the purchasing behaviour of consumers. As this fee is now capped, the banks do not make enough from it to cover the rewards. Many of the banks started reducing the rewards that can be earned or dropped some of the rewards cards altogether. This creates a huge opportunity for creating a reward program that is not correlated with the interchange fees.

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But what does this have to do with data? Well, rewards programs are in a way data collection schemes and they are used to gather information from users in exchange for points (a digital currency). Data products can be generated based on the information collected through a rewards program and consequently create an additional revenue stream for the company. As Bron.Tech has both components in the core business i.e. data and a digital currency, it is only natural to launch a program where the company can access insights that are not easily accessible. In the past 2 months such a program has been under testing and will be soon announced publicly under the Bron brand. The rewards program is currently undergoing strong growth with a 6% daily increase in users. By connecting the program to the MyBron wallet the company will give more control to the users over how their data is used. It is also worth pointing out that distribution and acceptance of the digital currency is the key factor for its success and is one of the main reasons for the company to take such an approach. This program will enable Bron.Tech to access more insights as well as distribute the Brons to many users with different demographic characteristics.

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