FLEXIROAM LIMITED — Capital/Financing Update 2021

Jun 8, 2021

9 June 2021

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FLEXIROAM SIGNS MPOS CONNECTIVITY AGREEMENT WITH GHL

Key highlights:

• Flexiroam will exclusively supply GHL with secured connectivity for its payment terminal devices in Malaysia, Philippines and Thailand for a two-year term

• GHL’s payment terminals will have the ability to stay connected utilising multiple networks, with global coverage. This enhances the high availability and security for payment transactions

• The contract provides monthly recurring revenue, which will grow over time as new machines are deployed, with a low expected churn rate

• Follows an initial arrangement to supply connectivity to GHL devices in October 2020, covering areas in Malaysia

Flexiroam Limited (ASX: FRX) ( Flexiroam or the Company ) is pleased to announce that it has signed a commercial agreement with leading Malaysian payment service provider GHL Systems Bhd ( GHL ), a leading ASEAN payment service payment provider. Under the agreement Flexiroam will be providing cellular connectivity to GHL’s payment terminals deployed by GHL in Malaysia, the Philippines and Thailand. The contract has an initial term of two years, with no option for termination within the first 12 months. GHL will pay Flexiroam a monthly fee at commercial rates for each terminal deployed by GHL. The agreement contains terms and conditions which are customary for an agreement of this nature. At this stage, the economic impact of the agreement with GHL is unknown due to the variable nature of the fee payment, which is calculated based on the number of terminals deployed by GHL and the number of customer transactions.

Commenting on the agreement, GHL’s Chief Executive Officer Sean Hesh said: “Flexiroam’s SIMs provide the specific connectivity solution we need to rapidly scale and we are pleased to be deploying them into our terminals. The solution provides us with the guarantee of reliable connectivity anywhere our machines are deployed, which we require as a rapidly growing regional payment service provider. It is a convenient solution for us, as all our connectivity will be provided by Flexiroam’s global network. Being able to stay connected by utilising multiple telecommunications networks is critical to ensure we have high availability and security for payment transactions.”

Flexiroam Chief Executive Officer Marc Barnett said: “We are delighted to be extending our agreement with GHL, following a smaller initial rollout in Malaysia earlier this year. The contract is a significant milestone, as GHL is a regional market leader that is leading the cashless revolution in the ASEAN region, with electronic payment methods spanning from cards to e-Wallets. GHL has around 387,000 payment touchpoints and we are excited to be providing connectivity as they rapidly grow their footprint further.

“Our Flexiroam Solutions Internet of Things (IoT) platform leverages our cellular network switching technology and will provide GHL with enhanced coverage with the guarantee of secured and reliable transactions. Our solution will be integrated with GHL’s back-end system, allowing GHL to consolidate and manage connectivity of all terminals with different networks, over a single API. This provides GHL with better control over the management of their

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merchant subscriptions, making it easier to deploy across the region. The monthly recurring revenue generated will provide us with a long term, sustainable and growing revenue base.

“There are strong long-term opportunities for us to grow our recurring revenue from deploying our Flexiroam Solutions platform into the Southeast Asia region, where the POS terminal market is forecast to grow at a CAGR of 32.4% over 2021-2026[1] , underpinned by increasing middle-class income and growing investments and digitalisation in the payment industry. I look forward to providing further updates over time as we continue to execute on our Flexiroam Solutions growth strategy.”

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AUTHORISED BY THE BOARD OF DIRECTORS

Corporate Inquiries

Investor Inquiries

Marc Barnett, CEO & Executive Director Market Eye Telephone: +61 2 8188 3919 Justin Foord Email: investor@flexiroam.com Telephone: +61 2 8097 1200 Email: justin.foord@marketeye.com.au

1 Morder Intelligence (2020) Southeast Asia POS Terminal Market – Growth, Trends, COVID-19 impact, and Forecasts (2021 - 2026)

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ABOUT FLEXIROAM

FLEXIROAM LIMITED (ASX: FRX) is a super connector providing vital links between touchpoints and information repositories. By leveraging on its global connectivity in more than 100 countries, Flexiroam brings together the lines of communication to facilitate information gathering. Its innovative technology can be used expansively by consumers requiring connectivity to stay in touch with people and enterprises seeking data links to enhance business processes. Flexiroam’s core capabilities are in research and development, scalable consumer app development, Big Data and Artificial Intelligence.

ABOUT GHL GROUP

As ASEAN’s leading payment solutions provider, GHL’s reach spans across six countries - Malaysia, Philippines, Thailand, Indonesia, Singapore and Australia, stretching over a vast footprint of more than 383,000 payment touchpoints across the region. GHL prides itself as a one-stop provider for both offline and online e-payment solutions, with 27 years of experience in the fintech field.

GHL is also recognised as the leading payment acquirer in ASEAN for over 100 global and regional payment schemes and channels, processing more than RM1.5 billion payment transactions per month. Apart from being Malaysia’s largest prepaid credit top-up and bill payment collection network, GHL aspires to catalyse sustainable livelihood of the Micro Small Medium Entrepreneurs (MSMEs) through financial and non-financial value-added services. With several accolades such as Asia’s Corporate Excellence and Sustainability Award 2019 as Asia’s Best Performing Company as well as The Edge’s Billion Ringgit Club Award under its belt, GHL is also listed on Bursa Malaysia since 2003. (www.ghl.com)

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