FLEXIROAM LIMITED — Capital/Financing Update 2021

Dec 20, 2021

21 DECEMBER 2021

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MASTERCARD PARTNERSHIP EXTENDED FOR THIRD YEAR

• Mastercard partnership extended to cover CY22, with US$250,000 payment in February 2022

• Current data commitment expires on 31 December 2021

• Eligible Mastercard holders at participating Asian banks will continue to be rewarded with data packs from Mastercard, and be eligible to receive a 15% discount on Flexiroam data plan purchases

• Program is active in Taiwan, Vietnam, India, Indonesia, Thailand and Hong Kong with further

• expansion across the Asia-Pacific region planned

• Mastercard have signed an additional 16 banks to the program in CY21, bringing the total banks onboarded to 20

Flexiroam Limited (ASX: FRX ) ( Flexiroam or the Company ) is pleased to announce that its Global Data Plan partnership with Mastercard[1] , has been extended to cover the Calendar Year ( CY ) 2022. Under the extended agreement, which continues to operate on normal commercial terms, Mastercard will pay Flexiroam US$250,000 upfront for data purchases, which are offered to cardholders as a reward. Unused data from CY20 and CY21 will expire on 31 December 2021.

The Flexiroam Global Data Plan is offered as a benefit to Mastercard cardholders by participating Asian banks. Eligible cardholders are rewarded with global roaming data packs paid for by Mastercard, which can be used in over 200 countries and territories. Cardholders are also entitled to a 15% discount on Flexiroam data plans purchased with their Mastercard.

Since launching in Taiwan in June 2020, the program has successfully expanded into Vietnam, India, Indonesia, Thailand and Hong Kong, with Mastercard intending to roll out the program across further countries in the Asia-Pacific region. Mastercard has now onboarded 20 banks, as of 31 October 2021, as it accelerates the rollout. The current coverage provides Flexiroam with exposure to 271,000 potential customers, with additional 635,000 potential customers being added, based on Mastercard’s launch pipeline through to January 2022.

Commenting on the partnership extension, Flexiroam Chief Executive Officer Marc Barnett said: “The extension of our partnership demonstrates Mastercard’s continued confidence in the demand for our product and provides us with access to a large potential customer base that require a connectivity solution while travelling. Mastercard plans to roll out the program to several leading banks and fintechs in the coming months, including HSBC Hong Kong, Malaysia and Singapore and Matchmove Singapore.

“We are pleased that Mastercard is accelerating the pace of their rollout, which puts us in an excellent position to scale rapidly. It also provides an excellent opportunity for us to showcase our eSIM technology, which has broad connectivity applications across our Travel and Solutions verticals.

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1 See ASX: FRX announcements dated 11 June 2020 and 21 December 2020

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AUTHORISED BY THE BOARD OF DIRECTORS

Corporate Inquiries

Marc Barnett, CEO & Executive Director Telephone: +61 2 8188 3919 Email: investor@flexiroam.com

Investor Inquiries

Market Eye Justin Foord Telephone: +61 2 8097 1200 Email: justin.foord@marketeye.com.au

ABOUT FLEXIROAM

Founded in 2011 by Jefrey Ong, CIO and Executive Director, Flexiroam Limited (ASX:FRX) started with a mission to push the boundaries of communications. What began as a solution for travellers needing seamless mobile data at competitive rates, has evolved beyond the consumer travel market.

Flexiroam provides connectivity across any device, in any part of the world for any application. The Company is a superconnector for people and machines globally. Flexiroam’s versatile network now spans across 520 network operators in over 200 countries and territories, making it the preferred service for consumers and businesses worldwide.

For further information, please visit https://www.flexiroam.com/

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