FIRSTWAVE CLOUD TECHNOLOGY LIMITED — Investor Presentation 2018

Oct 30, 2018

INVESTOR UPDATE October 2018

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David Kirton CEO

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We believe that every business has the right to
enterprise-quality cyber-security solutions
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Businesses need security

1 in 131

emails now contain malware*

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MASSIVE
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Cybercrime is exploding across the globe

US$3 billion+

cost to business from email phishing attack over past 3 years**

US$2 trillion+

cybercrime cost to business by 2019**

US$10 billion+

Cybersecurity market to grow to US$140B by 2021

FirstWave addressable market by 2021

2,500+ global security vendors

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EVOLVING
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69%

Rapid move to multiple cloud infrastructure

of enterprises will have multi-cloud/hybrid IT environments by 2019

US$178 billion+

size of global public cloud market in 2018 with 24% growth rate

• ‘2017 Internet Security Threat Report’ Symantec

• ** ‘The Future of Cybercrime & Security: Financial and Corporate Threats & Mitigation’ Juniper Research, 2015

• * ‘How to protect your networks from Ransomware’ FBI 2017

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Businesses are transitioning to the cloud

$0 $5 $10 $15 $20 $25 $30 Managed cloud security adoption growing Customer cloud demand growing across business segments Cloud migration driving customer churn at cyber security service providers Explosion of new cloud security vendors	40% 42% 44% 46% 48% 50% 52% 54% 56% CY15 CY16 CY17 CY18 CY19 CY20 CY21 $17bn $23bn

Service Provider cloud platforms and services market growth

IHS CPE and Cloud 2017

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Security in the cloud can be complex

Managed Security Service Providers (MSSP/SP)

Global Security Vendors

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• High operational costs

• Increased regulation & compliance

• ‘Sprawl’ of security technology

• Management overly complex

• Operational inefficiencies

Managed Security Service Providers

Vendor’s Service Management Platforms

• Security skill shortage

• Enterprise grade security only for large business

Enterprise Enterprise Gov A B C

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We simplify cloud security offers

By providing a platform that offers SaaS to enable the telco/MSSP to switch on revenue rapidly

Global Security Vendors

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• Simplified security that works

• Increase MSSP revenue from new bundles

and services

• Accelerate new MSSP products speed to

• market

• Strengthen MSSP’s customer loyalty with

Managed Security Service Providers

Simplify Automate Scale

fully branded offers

• Make enterprise grade security available to

every size MSSP business customer

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Enterprise Gov Small
A B Business
C
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A closer look at our platform

Our adaptive one touch cloud cyber-security platform purpose built for a multi-cloud world

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SaaS
Private
Data Centres
Cloud Content Security Platform
Scales to manage Rapid Joins Spin up products Single control and Built to add
millions of deployments multiple clouds anywhere view of multiple any vendors
Users & Things partners and users globally and products with one touch products and users and regions
Deploys to Telecommunication Companies, Data Centres and Partners - Globally
Cloud Subscription Support and
Integration And License Ticketing
Management
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Campus & Branch

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Simplify, Automate, Scale.

Email Security

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Firewall
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Web Security

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How we compete

In-market, turnkey, fully-managed cloud platform that enables MSSPs to differentiate and sell highly profitable managed security service offerings for every size business

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FLEXIBLE

INTEGRATED

BUILT FOR CYBER

BRAND BUILDING

Multi-Tenant, Multi-Vendor & Multi-cloud

Multiple, Integrated Security Products (Email, Firewall, Web)

Leadership in Network Function Virtualisation (NFV) for security

White Labelled Security Mgmt. Portal & APPS

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ROBUST

END TO END

LOW TOUCH

MSSP READY

Highly Reliable, Extensible & Scalable

Security Appliance Orchestration & Service Lifecycle Management

Automated Service Provisioning Workflow

APIs for Telco/SP operations support systems/ business support systems (OSS/BSS)

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First global services agreement - Cisco OEM

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"
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Successfully executed OEM agreement offers FirstWave’s unique cloud service orchestration platform for MSSPs globally

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Global
technology
integration and
development
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Cisco global
pre-sales
enablement
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Cisco OEM
FirstWave
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Q2 FY19

Q3 FY19

Q1 FY19

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One touch platform successfully executed, accelerates ‘Scale’

Through efficient and rapid service orchestration in multi-vendor, multi-cloud security ecosystem

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GSV
products
and
MSSP services
Global
security
Security
product Vendors
(GSV)
catalogue
MSSP
end
customers
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FY22 Aspiration

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Commercial model – approx. gross margin

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PUBLIC
FirstWave
provides
infrastructure
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PRIVATE
MSSP/SP
provides
infrastructure
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MSSP/SP

OEM

FirstWave manages the FirstWave receives SaaS lifecycle for the royalty based on MSSP/SP for a monthly number of users subscription fee based on number of users

MSSP/SP

OEM

FirstWave manages the FirstWave receives SaaS lifecycle for the royalty based on MSSP/SP for a monthly number of users subscription fee based on number of users

50%

85%

50%

90%

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Commercial model growing through 6 global channels

Tier 1 Telcos Regional System Integrators Australia – 1 delivered, 1 in pipeline APJ – MindFlow, Kronicles and APJ – 3 in pipeline Softlogic delivered, 1 in pipelineEMEA – 3 in pipeline NA – 2 in pipeline Tier 2 Telcos 6 Cloud Service Providers Malaysia – 1 in pipeline Interactive (Australia) Brunei – 1 in pipeline Channels Global Security/Tech Vendors Online Cisco, Palo Alto, Ingram Micro To be developed during the (Australia) “Scale” phase of strategy FirstWave Online Branding Underpinning Channel Partner Sales

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FY19 priority platform product roadmap

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Web Security

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1

2

3

Premium Firewall Email Security

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‘Expand’ FY19 detailed programme update

Simplify. Automate. Scale.

TECHNOLOGY

• Signed OEM Agreement Cisco

• Public Cloud Platform Opened North

America

� Email solution enhancement with DMARCB OCTA � Cisco ESA upgrades to platform NOV � Automated email provisioning DEC

TECHNOLOGY

• OEM Integration

• Vendor accreditation

• Support Accreditation

• Cloud Managed Service Provider (CMSP) Accreditation

• Global sales teams trained

TECHNOLOGY

• Public Cloud Platform - EMEA/Asia

• One touch orchestration across email, web and firewall

• Palo Alto/Fortinet accreditation

• Added to Global Price List (GPL)

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• Cloud Platform web and firewall vendor integration

• ISO recertification

• Q1 Q2 DELIVERY DELIVERY � David Kirton appointed CEO and reaffirms � strategic aspirations �

• JUL � Onboarding Interactive email Australia

• AUG � Telstra launches Connected Work Place � SEP (CWP) A 2 2 � Telstra CWP in market � OEM Pre-Sales �

Q3

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• Cloud & Security Event Sponsor - Singapore

• Ingram Cloud Market Place Sponsorship – Australia

JAN Australia FEB � OEM Customer Training - EMEA � Telstra CWP in market B MAR

• OEM POC North America

• New BDM North America/EMEA/Asia

• First OEM Order ANZ

• New Sales Director – Australia

• Capital raise

• New Channel BDM - Australia

• First OEM POC EMEA

• Ingram Micro sales training

• New Tier 2 Telco ANZ/Asia

• • Service Provider customer migration

DELIVERY

• OEM Customer Events

(Jan/Mar/Jun) – Europe/AUS/USA

• Mobile World Congress (Feb) - EMEA

• RSA Conference (Mar) – Singapore

• OEM global sales campaigns

• Targeting OEM Tier 1 Telco Order USA/EMEA

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Three year plan

FirstWave has a three-year plan to deliver revenue of A$50 million per annum

Domestic

• Plan to grow the domestic business (Australia and New Zealand) to $20M by FY21

• Achieve scale in our addressable market through additional partners and channels to market lead by the public platform and the FirstCloud suite of

solutions

• FY18 revenue base of $7.8M

Revenue Streams

• Email

Estimated Revenues

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50
40
30
20
10
0
FY19 FY20 FY21
Total Domestic revenue Total International revenue
$A Millions
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International

• Plan to grow the international business to $30M by FY21

• This growth is to be achieved via accelerated incremental lean regional deployment in North America, Europe, the Middle East and Asia

Revenue Streams

• Email

• Web

• Firewall

• Platform as a Service (PaaS)

• Web

• Firewall

Go-to-Market channels

• Service Provider – Telstra and MSSPs - enhance their digitalisation and connected workplace strategy and increasing penetration into their

addressable base

• Software Distribution – 3 resellers

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Platforms

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Current Planned
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Go-to-Market channels

• OEM Partners, leveraging their extensive sales, channel and distribution networks globally, including the previous announced Cisco OEM

Agreement

• A combination of direct deals with service providers and regional re-sellers and leveraging our existing partnership agreements to increase penetration in Asia

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Business development for expansion

Additional experienced technology sales executives to drive regional growth

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Sundar Bharadwaj

Director of Sales – EMEA/USA

Over 25 years transforming and commercialising global telco and technology sectors in senior executive roles.

Shekila Ramalingam

VP Business Development - Asia

Over 25 years experience as a senior regional executive in the Asian IT industry and Telcos.

Martin Conneely Director of Sales - ANZ

Sales professional with more than 20 years of experience in the IT Industry, selling to Enterprise and Government customers.

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THANK YOU

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David Kirton
CEO
david.kirton@firstwavecloud.com
02 9409 7000
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A simple guide to acronyms in our presentation

FirstWave plays in highly technical world so here are some definitions to help you navigate terminology

• MSSP – Managed Security Service Provider – e.g. a telecommunications company

• SP – Service Provider – e.g. a telecommunications company

• CSP – Cloud Service Provider – e.g. a telecommunications company

• GSV – Global Security Vendor – e.g. Cisco, Palo Alto Networks, Fortinet

• OEM – An original equipment manufacturer (OEM) is a company that produces parts and equipment that will be marketed and sold by another manufacturer – e.g. what FirstWave does with Cisco

• BDM – Business Development Manager – sales executive

• EMEA – Europe, Middle East, Africa – regions

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Disclaimer

Summary information

This Presentation contains summary information about FirstWave and its activities current as at 31 October 2018, unless otherwise stated. The information in this Presentation does not purport to be complete. It should be read in conjunction with the

FirstWave’s other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange, which are available at www.asx.com.au.

Not financial product advice

This Presentation is for information purposes only and is not financial product or investment advice or a recommendation to acquire FirstWave shares and has been prepared without taking into account the objectives, financial situation or needs of individuals.

Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and seek legal and taxation advice appropriate to their jurisdiction. FirstWave is not licensed to provide financial product advice in respect of FirstWave shares. Cooling off rights do not apply to the acquisition of FirstWave shares.

Not tax advice

Tax implications for individual shareholders will depend on the circumstances of the particular shareholder. All shareholders should therefore seek their own professional advice in relation to their tax position. Neither FirstWave nor any of its officers, employees or advisers assumes any liability or responsibility for advising shareholders about the tax consequences of the return of capital and/or share consolidation.

Financial data

All dollar values are in Australian dollars (A$) unless otherwise stated.

Future performance

Forward looking statements, opinions and estimates provided in this Presentation are based on assumptions and contingencies which are subject to change without notice, as are statements about market and industry trends, which are based on

interpretations of current market conditions. Forward looking statements including projections, guidance on future earnings and estimates are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. An investment in FirstWave shares is subject to investment and other known and unknown risks, some of which are beyond the control of the FirstWave, including possible delays in repayment and loss of income and principal invested. FirstWave does not guarantee any particular rate of return or the performance of the FirstWave nor does it guarantee the repayment of capital from FirstWave or any particular tax treatment. Persons should have regard to the risks outlined in this Presentation. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this Presentation. To the maximum extent permitted by law, none of FirstWave, its directors, employees or agents, nor any other person accepts any liability, including, without limitation, any liability arising out of fault or negligence, for any loss arising from the use of the information contained in this Presentation. In particular, no representation or warranty, express or implied is given as to the accuracy, completeness or correctness, likelihood of achievement or reasonableness of any forecasts, prospects or returns contained in this Presentation nor is any obligation assumed to update such information. Such forecasts, prospects or returns are by their nature subject to significant uncertainties and contingencies. Before making an investment decision, you should consider, with or without the assistance of a financial adviser, whether an investment is appropriate in light of your particular investment needs, objectives and financial circumstances.

Past performance

Past performance information given in this Presentation is given for illustrative purposes only and should not be relied upon as (and is not) an indication of future performance.

Not an offer

This Presentation is not, and should not be considered, an offer or an invitation to acquire FirstWave shares.

ASIC guidance

In December 2011, ASIC issued Regulatory Guide 230. To comply with this Guide, FirstWave is required to make a clear statement about whether information disclosed in documents other than the financial report has been audited or reviewed in accordance with Australian Auditing Standards. This Presentation is unaudited.

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