FLEXIROAM LIMITED — Interim / Quarterly Report 2018

Apr 29, 2018

4Q17 - Quarter ended 31st March 2018

Disclaimer

==> picture [672 x 270] intentionally omitted <==

Flexiroam X Subscriber & User Growth

Cumulative Subscribers and Users per quarter

==> picture [488 x 292] intentionally omitted <==

Subscriber: Number of subscribers who registered on the app. Users: Number of accounts with “Activated” Microchip.

Improving Subscriber to User Conversion Rate

Subscribers to Users Conversion Rates

==> picture [436 x 274] intentionally omitted <==

The subscriber to user conversion rate continues to grow in 4Q17, with 34% of all subscribers converted to users.

Subscriber User Conversion Rate: Number of cumulative subscribers over number of cumulative users.

Growth in Quarterly Active Users

Unique Active Users Per Quarters

==> picture [450 x 279] intentionally omitted <==

==> picture [135 x 110] intentionally omitted <==

----- Start of picture text -----

Compounded
Quarterly
Growth Rate
21%
----- End of picture text -----

Almost half of all users used Flexiroam X at least once during 4Q17. This shows that most Flexiroam X users are active, recurrent users.

Active Users Per Quarter: Unique users who has used data within the quarter.

Increasing Transactions

Transactions and Paying Users Per Quarter

The number of transactions has been maintained albeit the slight drop in the number of paying users due to seasonality..This shows that the number of transactions per paying users has increased, and is now at 2.12 transactions per paying user.

Transactions: Total number of unique purchases by customer per quarter Paying User: Total number of unique paying customer who has made one or more transactions per quarter.

Increasing Recurring Customers

Repeat Customers (%)

==> picture [431 x 267] intentionally omitted <==

==> picture [135 x 110] intentionally omitted <==

----- Start of picture text -----

Compounded
Quarterly
Growth Rate
24%
----- End of picture text -----

The number of repeat customers continued to grow in 4Q17 and is now at 35%. This increase helps to further strengthen Flexiroam’s revenue stream through recurrent purchases .

Repeat Customers: Total Number of unique repeat customers (purchase at least 1 subsequent data plans) over total number of Flexiroam X users.

Number of Distribution Partners

Flexiroam X distribution partners & subpartners from April till March 2018

==> picture [658 x 297] intentionally omitted <==

----- Start of picture text -----

Compounded
Quarterly Growth
Rate for Number
↑30% of Partners
Distribution
Partners
32%
----- End of picture text -----

Distribution Partners: Distributors under Flexiroam’s Partner 2.0 program who distribute Flexiroam X globally. Number of Countries with Partners: Unique number of countries with distribution partners.

Distribution Strategy Progress Distribution Strategy Progress

==> picture [490 x 259] intentionally omitted <==

----- Start of picture text -----

April 2017 - October 2017 -
September 2017 March 2018
FLEXIROAM X
DELIVERED TO 44,281 40,611
PARTNERS
11% 26%
Activation Activation
Rate Rate
FLEXIROAM X
ACTIVATED BY
USERS DERIVED 5,064 10,508
FROM PARTNERS
44% 53%
Recurring Recurring
REPEAT Customer Customer
CUSTOMERS
DERIVED FROM 2,247 5,566
PARTNERS
----- End of picture text -----

The partnership program as of March 2018 has delivered 84,892 packs to Partners with 17% activation rate. Over 50% of the packs activated by partners became repeat customers who have made a subsequent purchase.

Recurring Revenue from Partner’s Distribution

Value of Transactions from Recurring Customers derived from Partners Distribution efforts Per Quarter

==> picture [478 x 26] intentionally omitted <==

----- Start of picture text -----

Average Spending
$69 $90 $109 $91
Per Customer
----- End of picture text -----

The number value of transactions from recurring customers remains strong at $265,509 despite the end of the travelling season.

Recurring Customers: Number of customers derived from distribution partners who has made a subsequent purchase of data plans within the Quarter. Value of Transactions: The total value of all transactions performed by recurring customers derived from the distributions within the Quarter Average Spending Per Customer: The total value of transactions from the partners program over the number of recurring customers within the Quarter.

Flexiroam Xcite

This plan has been crafted to be given out to users with high potential for frequent recurring purchase. Past data has indicated that the 3 category segment selected as target customers generate significant recurring revenues

==> picture [661 x 264] intentionally omitted <==

----- Start of picture text -----

1GB Data Pack Free Redemption
Program
Flexiroam Xcite
Coverage in 53
30 Day Validity
countries
Targeted Market Segments
Those in the targeted
segments will be eligible
to redeem the data
Phase 1 Phase 2 Phase 3
packs for free, bearing
only the delivery fees. Airline employees Corporate Travellers Tour Managers
----- End of picture text -----

Flexiroam X[2] BETA: Partnerships for Global Connectivity

Flexiroam X[2] BETA will launch on 1st of May 2018 as a mass market acquisition strategy. The offer will provide free global chat connectivity via WhatsApp. The aim is to significantly lower the barrier of entry to the product by requiring users to refer other users for the free chat access.

==> picture [696 x 294] intentionally omitted <==

----- Start of picture text -----

Phase 1 - Get access to
USERS
sponsored data through
user referrals
Phase 3 - Monetize
from sponsor to
provide free data FLEXIROAM
access globally for all
app services. .
Phase 2 - Leverage on
FRX data to reward
SPONSORS
users and create brand
awareness.
----- End of picture text -----

Summary of 4Q17 performance

In 4Q17, the number of There were 20,032 The number of subscribers and users unique active users transactions per paying has grown by 12% and during the quarter. The users has increased to 26% respectively. The corresponding 2.12 in 4Q17 , showing conversion rate between compounded growth rate that users are carrying subscribers and users is in unique active users is out an increasing amount at 35% . 21%. of transactions. As of March 2018, 84,892 packs were The partners program delivered to 243 has generated partners . Of the $265,509 from activated users derived transactions with an from the partnership average spending of $91 program, over 50% have per recurring customer in become repeat 4Q17 alone. customers .

Jefrey Ong Managing Director

Jason Khoo VP, Business & Investor Development, Global +60 16 686-8965 jason@flexiroam.com

Flexiroam Limited ACN 143 777 397

PO Box 3438, Nedlands, Western Australia 6909 79 Broadway, Nedlands, Western Australia 6009 Australia +61281883919 Malaysia +60326318181 Singapore +6531577333

investor@flexiroam.com