FLEXIROAM LIMITED — Interim / Quarterly Report 2021

Jan 28, 2021

“Connecting the world to infinite possibilities”

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January 2021
Quarterly Business Update webinar
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Tat Seng Koh, Executive Director Jef Ong, Chief Executive Officer

Company Background

• Listed on Australian Stock Exchange ( Stock code - ASX:FRX ) since 2015, headquartered in Malaysia

• Flexiroam Ltd is a superconnector for people and machines. We provide connectivity across any communication device, in any part of the world for any application.

• We are in 2 major segments:

• Travel: Leading eSIM provider to consumer and corporates enabling instant activation anywhere around the world without the need for a physical SIM card

• Solutions : An IoT Solutions provider allowing businesses to scale seamlessly and innovate freely in a cost efficient manner

Quarterly Financial Results (unaudited) – in A$ million

Positive underlying cash inflow (after excluding one-off costs associated with share placement)

Implemented cash preservation Initial signs of Travel segment strategy and maintained cost recovery

Key Highlights

01

Cash Preservation and Fundraising

02 Poised for Travel Recovery

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Strategic Global 03 Strategic Global Partnerships as growth catalystsPartnership as growth catalysts 04 Pivoting into IoT Solutions - mPOS paving the way

Flexiroam’s Business Strengths

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Global network, Asset-light Recurring revenue Fully digital value partners and customers Owns no upstream Provide services that chain Spanning 580 mobile mobile network will yield recurring Ability to scale fast network operators and infrastructure revenue streams with high cost 500k customer efficiencies worldwide

Initial Signs of Travel Recovery

• Increased cash receipts of 9.9% driven by Europe, Asia, Africa regions

• 34% higher eSIM activation compared to last quarter

• Connectivity partner of choice for worldwide conferences

Travel demand expected to substantially improve as international travel borders open and further progress is made towards global COVID-19 vaccine availability

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Propelling eSIM growth as an Apple Global Carrier

• One of 9 Apple worldwide service providers

• Allow eSIM instant activation for iphone users globally

• Forecasts* predict that by 2025 there will be two billion shipped eSIM-enabled devices.

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*Source: https://www.aboveavalon.com/notes/2020/10/26/a-billion-iphone-users

Deepen Asia-Pacific footprint with Mastercard

• Rolled out with 5 banks in Taiwan, Vietnam and Hong Kong with instant access to 160K Mastercard holders

• A minimum revenue of US$250K expected to be received in February 2021

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• Strong line-up for further expansion across the region

Flexiroam Solutions - Pivoting into IoT

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Global coverage and network agnostic

Ultimate control through dashboard

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Cost efficiency Security and Seamless Scalability

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mPOS paving the way into IoT Solutions

• Secured two major mobile point-of-sale (mPOS) companies in Malaysia, with over 42% of the domestic market share

• Further roll-out of IoT SIMs into chain outlets is expected in the coming quarters generating monthly recurring revenues

Strong long-term growth opportunities, with Southeast Asia POS terminal market forecast to growth at a CAGR of 32.4% over 2020-2025[1]

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• 1: Mordor Intelligence (2019). Southeast Asia POS Terminal Market - Growth, Trends and Forecasts (2020-2025)

In Summary

• Travel : Ready to scale up to capture travel recovery

• Flexiroam as an Apple eSIM global carrier and strategic partnership with Mastercard to be growth catalysts

• IoT solutions : greater commercial opportunities expected

Disclaimer

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Corporate Jef Ong, CEO Telephone: +61 2 8188 3919 Email: investor@flexiroam.com

Investors

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