GRATIFII LIMITED — Interim / Quarterly Report 2021

Feb 28, 2021

1 March 2021

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ASX ANNOUNCEMENT

Market update – March 2021

Mobecom is pleased to provide the following Market Update.

MBM confirms that this announcement has been approved by the board of directors of MBM.

David Hwang Company Secretary

For further information, contact:

Iain Dunstan Executive Chairman

i.dunstan@mobecom.co

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About Mobecom Limited

Mobecom Limited (ASX:MBM) is a full-stack customer engagement technology provider that delivers end-to-end technology solutions for businesses to engage with their customers. Its primary focus is providing liquidity for digital assets through its newly developed Mosaic Enterprise Engagement Platform. With mobile payment, ordering, booking and local offer capability; the Mosaic EEP will be the gateway to delivering a new digital lifestyle rewards program.

To learn more, please visit: www.mobecom.co

Legal/74769574_11

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Disclaimer

This presentation has been prepared by Mobecom Limited. Each recipient of this presentation is deemed to have agreed to accept the qualifications, limitations and disclaimers set out below.

None of Mobecom Limited or its subsidiaries or their respective directors, officers, employees, advisers or representatives (Beneficiaries) make any representation or warranty, express or implied, as to the accuracy, reliability or completeness of the information contained in this presentation, including any forecast or prospective information. The forward-looking statements included in this presentation involve subjective judgement and analysis and are subject to significant uncertainties, risks and contingencies, many of which are outside the control of, and are unknown to, the Beneficiaries. Actual future events may vary materially from the forward-looking statements and the assumptions on which those statements are based. Given the uncertainties, you are cautioned to not place undue reliance on such forward-looking statements. Subject to any continuing obligations under applicable law, Mobecom Limited disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements in this presentation to reflect any change in expectations in relation to any forward-looking statements or any change in events, conditions or circumstances on which any such statement is based.

This presentation is a general overview only and does not purport to contain all the information that may be required to evaluate an investment in Mobecom Limited. The information in this presentation is provided personally to the recipient as a matter of interest only. It does not amount to an express or implied recommendation with respect to any investment in Mobecom Limited nor does it constitute financial product advice.

The recipient, intending investors and respective advisers, should:

• conduct their own independent review, investigations and analysis of Mobecom Limited (as the case may be) and of the information contained or referred to in this presentation; and/or

• seek professional advice as to whether an investment in Mobecom Limited is appropriate for them, having regard to their personal objectives, risk profile, financial situation and needs.

Except insofar as liability under any law cannot be excluded, none of the Beneficiaries shall have any responsibility for the information contained in this presentation or in any other way for errors or omissions (including responsibility to any persons by reason of negligence).

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About Mobecom

Mobecom helps businesses deliver great customer experiences. We work with companies that are passionate about solving customer and employee needs around intent and purpose. Our SaaS loyalty and rewards platform, Mosaic, helps businesses drive customer and employee loyalty and build repeat business with brands that customers love.

“Where customers and engagement meet”

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The problem with the traditional model

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For Enterprise No measurable ROI from loyalty

For Consumers Doesn’t create real loyalty, more often than not actually irritates

Technology Existing software is complex, hard to modify and expensive to maintain

“Most loyalty programs don’t work. They seldom change customer behavior and many actually irritate loyal customers. Almost all of them are stuck – either with dormant points, inactive members or as a liability on the balance sheet. For any organization seeking growth, how they approach customer loyalty needs a refresh”

AIMIA, a global loyalty solutions provider (TSX: AIM)

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Change the way you Engage

Mobecom takes into consideration the entire partner ecosystem, not only their customers, but suppliers, partners, employees and additional businesses, creating an engagement ecosystem.

Using new age technology, simple integration practices, and the use of events, partners can quickly and easily customize their engagement, without having to invest in further development costs.

With a simple self-service system, geared for anyone, we help transform Engagement, with the ability to monitor and measure engagement, and manage your engagement like never before, more simply and affordably, Mobecom is truly “where customers and engagement meet”

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Our Offering – a complete platform

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LOYALTY

PROMOTIONS

ENGAGEMENT

ORDERING

Delight customers with highly targeted messages and incentives based on preferences, profile, and purchase history.

Easily create and manage powerful, targeted promotions to engage your customers. Reward your customers for events such as enrolment, spending, redemption, interaction, and many more.

“Follow the customer” paradigm applied to customer engagement ensuring relevance at the right time

Provide & enable a user friendly journey for ordering. Order on the way, or order in advance, we deliver purchases directly to your POS or web session / tablet in real-time.

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LOYALTY EXCHANGE

GIFTING

COUPONS

PAYMENTS

Seamless digital value exchange into a common currency value which can be used by consumer as they choose.

Stored value and peer-topeer gifting combined with loyalty and rewards offerings is a powerful engagement tool. Coupled with the ability to use in a checkout or payment user journey is extremely powerful.

Generate, manage and track unique loyalty program related voucher codes or external voucher codes as customer loyalty rewards or targeted promotion coupons.

Payments with embedded loyalty & rewards provides a seamless user experience whilst creating an opportunity for margin expansion for the merchant.

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‘REWARDS as a SERVICE’ is the solution

Mobecom is carving out an important niche in the loyalty and rewards space. We can assist and collaborate using state of the art technology to drive value for all stakeholders. We provide the ‘secret sauce’ that enables older enterprise systems to deliver speed to market and improved ROI for customers.

An example of how our solution fits is illustrated below.

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Through Mosaic, BAT clients can now burn their existing loyalty value (Stars – hosted by Salesforce) into an aggregated digital voucher, giving true value to the consumer. Older Enterprise systems like Oracle and Salesforce cannot deliver this speed to market nor this level of flexibility or deliver at the same price point.

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Business Model

• Mobecom is a software layer that enables enterprises to enhance the value, flexibility and useability of its loyalty programs across multiple brands and reward offerings (i.e., points, miles, vouchers, cash back, cash rewards etc.)

• A key benefit for enterprises is building customer and employee engagement and alignment with brand purpose and values.

• A broad-based revenue model comprising:

• SaaS licence fees (paid monthly)

• Implementation and integration service fees

• Enterprise specific usage based (volume) fee (users, % of online ordering etc.)

• Our client list of blue chip and global companies cover a wide range of key business sectors including banking, telecom and consumer.

Key Customers

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Sound and Growing Revenue Platform

$’000										1HFY20					2HFY20				1HFY21	1HFY21	1HFY21
Revenue										1,045					1,191					1,276
HoH Growth % 1H20 to 1H21 %															14.0%					7.1% 22%
500						Monthly			Revenue			(A$	'000s)							250
0 50 100 150 200 250 300 350 400 450																				0 50 100 150 200
	Jul-19	Aug-19	Sep-19 Oct-19 Nov-19 Revenue			Dec-19	Jan-20	Feb-20	Mar-20	Apr-20 May-20 Jun-20 Jul-20 Aug-20 Cumulative Monthly					Sep-20 Oct-20 Avearge	Nov-20 Dec-20 (RHS)		Jan-21	Feb-21

• Revenue growth of +22% YoY to 1HFY21.

Revenue growth accelerates as transactional revenue begins to grow through new client wins including:

• The Unlimited;

• Flash

• roll-out of Mosaic Loyalty and Deals/Offers modules.

• Strong pipeline of new opportunities in Australia, South Africa and Middle East

• Existing and new clients expected to drive 50%+ revenue growth in FY22

• Average monthly revenues are growing with increased activity on the platform and greater penetration with Mosaic across the client base.

Source: Mobecom Management Accounts

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Positive 1HFY21 Results

Mobecom Results	1HFY20 1HFY21 Change (%)	1HFY20 1HFY21 Change (%)
A$
Ordinary Revenue Other Income R&D Grant and Government Support Non-Cash Revenue Discontinued/Sold Businesses Total Revenue Net profit Loss Derecognition of Subsidiaries One Off Transaction Non-Cash Depreciation Finance Costs Foreign Exchange Movements Normalised EBITDA	1,045,257 1,275,743 22% 7,259 8,037 - 980,587 - 1,553,512 945,000 - 1,997,516 3,817,879 (8,266,756) 2,173,400 - (317,477) 6,197,061 (1,236,035) 11,903 73,727 198,714 122,968 58,865 - (1,800,213) 816,583 231%
	1,997,516	3,817,879
	(8,266,756) - 6,197,061 11,903 198,714 58,865	2,173,400 (317,477) (1,236,035) 73,727 122,968 -
	(1,800,213)	816,583

Source: ASX Appendix 4D and Interim Report for the six months to 31 December 2020

• 22% growth in recurring SaaS revenue providing a positive base for continued growth in 2HFY21.

• The Unlimited and Flash (Pepkor group) to go live in 2HFY21, providing increased ARR and expand the reference sites for Mosaic.

• Continued growth despite substantial impacts of COVID. Contracted upside on return to ‘normal’.

• Profitable in H1FY21. However, this is not expected to continue into 2HFY21 given the planned increased growth investment in sales, operations and Mosaic combined with reduced Government Support.

• December 4C also showed cashflow positive for the first time.

• Focus on investment in Mosaic R&D with $1m spent during 1HFY21.

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Focus on Growth

Growth in customers:

• Acquired four new enterprise clients during 1HFY21:

• Starbucks (Australia)

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Re-Listing process completed

• The Unlimited (South Africa)

• British American Tobacco (South Africa)

• Flash (South Africa)

Enhance the technology platform:

• Mosaic Exchange Module live with Nedbank & British American Tobacco

Improved management, governance and capital structure:

• Balance Sheet capacity

• Non-Core assets sold

• Board strengthened  New executive hires

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Growth Capital Raised $5.5m

Focus on Growth

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Land and expand

• Volume-based use

• Third party content

• New Mosaic module roll-out

Three focus areas for growth

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New Direct Customers

• Business Development function

Acquisitions

• New potential customers well engaged in Australia, Middle East, Eastern Europe and UK

• Content providers

• Employee engagement companies

• New software now validated by large enterprises

• Deliver end-to-end solution

• International Pipeline

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Outlook

Strategic Priorities

• Embed the Mosaic ecosystem into B2B enterprises in Australia, New Zealand, Singapore, Middle East and South Africa

• Target sectors include: Retail Telco Hospitality Financial Services

• Human Resources

• Health & Wellbeing

• Acquire selected content companies to deliver both content and access to existing corporate clients

• Strong international pipeline expected to deliver improved growth rates in Annual Recurring Revenue (ARR) in short to medium term as new clients go live and new modules are rolled out.

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= active sectors currently

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Capital Structure

ASX: MBM Volume/Value	ASX: MBM Volume/Value
Share price at fund raising (Dec 20)		0.02
Total Shares on issue		558.1m
Total Options on Issue (33.5m listed ex at 10c)		69.9m
Market Cap		$ 11.16m
Cash (net of any debt) at 1 March 2021		$ 3.50m
Convertible Note *		$ 1.50m
Enterprise Value		$ 8.66m

• Recent Share Capital rasied at 2c per share on 200,000,000 shares

As part of the re-capitalisation, Mobecom raised $5.5m (equity raising of $4.0m and short-term loan/Convertible Note* of $1.5m) of which $2.0m was used to extinguish debt and fees incurred to re-comply. Mobecom now has net cash on hand and will use funds to upskill go to market function, finalise the new version of Mosaic and for general working capital.

• Convertible Note to be approved at EGM. NoM will be issued to shareholders in March 21.

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Management and Board

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Iain Dunstan Chairman & Executive Director

• Iain Dunstan (CEO), invested in Bravura, when it was running a legacy systems. He then invested in the technology and developed a client base of Banks and Superannuation managers (with high levels of security, complicated integrations and regulation). This then lead to the listing of Bravura, which is now a global technology company.

• Iain’s recent turnaround role was as the CEO of Rubik Financial Limited, a listed software company involved in the banking, wealth management and mortgage broking solutions, primarily in Australia. He managed the sale of the business to Temenos, a Swiss company (Market Cap of US$9bn) at a 72% premium to WVAP.

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Chris Joseph Executive Director

• Chris Joseph (Bachelor of Commerce) leads Mobecom’s business operations in the Africa Region and has recently relocated to South Africa after successfully establishing Mobecom’s Asia operations. Chris has more than 20 years’ experience in senior management across the banking, financial services, food & beverage industries, customer relationship management and loyalty industries.

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Mark Schoombie CTO

• Mark (PGDip) is an experienced individual with a demonstrated history of working on Product, Business and Technology Strategy in the banking industry. He has strong experience in Marketing Management, Business Planning, Sales, Customer Relationship Management (CRM), Technology Development, Innovation and Product Development.

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Mike Hill Non-Executive Director

• Mike is a founder of Bombora Group, a pre-IPO and listed equities boutique growth investor based in Sydney. He was a former Operational Partner of Ironbridge from 2004 to 2014, a private equity firm with $1.5bn funds under management, at which he led and was involved in a number of transactions across a variety of different industries. Prior to this, he was a Partner at Ernst & Young.

• Current ASX board experience includes Chairman of Janison Education Group, PKS Group and AHAlife Holdings Limited. Past ASX Board experience on Rhipe Limited, Livetiles Ltd, Acrow Formwork and Construction Services Limited. Member of the Australian Institute of Chartered Accountants and holds a Bachelor of Arts Degree (Accountancy) from the University of South Australia

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Bryan Zekulich Non-Executive Director

• Bryan was the managing partner of Ernst & Young’s Private Equity Sector for over 15 years. Bryan is also a board member, the treasurer and the company secretary of the Australian Investment Council (formerly the Australian Private Equity and Venture Capital Association). Bryan is currently on the board of ASX listed BikeExchange

• Bryan is currently the portfolio manager and partner of Bombora Investment Management. Bryan has significant experience in the Australian M&A market including in respect of mergers & acquisitions, divestments, strategic finance, capital raisings and advising on ASX listing requirements. Bryan has a Bachelor of Commerce from the University of Western Australia. He is also a fellow of the Institute of Chartered Accountants of Australia and a fellow of the Financial Services Institute of Australia.

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Appendix A – Mosaic R&D Program

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“In a digital-first world, commerce is the experience that drives differentiation, adoption and innovation. A superapp ecosystem builds that bridge that drives value for all stakeholders.”

r Seeking Alpha. Novembe 2020

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Mosaic Delivery 2020 - completed

Infrastructure

Set up Azure set up, pipelines, automation, artifactory, QA automation, security, repos

Business

The ability to create a business, business roles, assign features and feature sets

APR

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MAY

JUN

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JUL

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AUG
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SEP

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OCT
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NOV

Architecture

Created our technology architecture design, in which Mosaic would be built and delivered in. As examples, generic microservices, tools, data structures.

Loyalty Exchange

Seamless digital value exchange into a common currency value which can be used by consumer as they choose.

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Mosaic Delivery 2021

Deals/Offers

Creating a mechanism to easily create, manage and track customer engagement, this includes vouchers, coupons, discounts and gift cards.

Ordering

Provide & enable a user-friendly journey for ordering. Order on the way, or order in advance, we deliver purchases directly to your POS or web session / tablet in real-time

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JAN

MAR

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MAY

JUL

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SEP
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NOV
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Loyalty

Delight customers with highly targeted messages and incentives based on preferences, profile, and purchase history. Through our events trigger, simply and easily create loyalty events for our customers

Campaigns/Promotions

Easily create, manage and track powerful, targeted promotions/campaigns to engage your customers giving them the best DEAL/OFFERS for your company

Payments

Payments with embedded loyalty & rewards provides a seamless user experience whilst creating an opportunity for margin expansion for the merchant .

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