ONE CLICK GROUP LIMITED — AGM Information 2019

May 30, 2019

ASX RELEASE

31 MAY 2019

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2019 CHAIRMAN’S ADDRESS TO ANNUAL GENERAL MEETING

Good morning, ladies and gentlemen. My name is Peter James, and I am the Independent NonExecutive Chairman of UUV Aquabotix Limited. On behalf of the Board, it is my pleasure to welcome you to the 2019 Annual General Meeting.

It is now 10:00am, and there being a quorum present, I declare the meeting open for business. I confirm that the meeting has been properly constituted.

First, I would like to introduce those seated with me today, Robert Clisdell, a Non-Executive Director of the Company, Jonathan Swain, the Company Secretary, and Gary Sherwood, the Company’s auditor from RSM Australia. Non-Executive Director, Jay Cohen, and the Company’s Chief Executive Officer, Whitney Million, are joining us remotely via teleconference.

The agenda for today’s meeting is as follows:

• I will provide the Chairman’s address;

• following which, we’ll proceed to the more formal matters to be considered today, as set out in the Notice of Meeting that was despatched to all shareholders on 2 May 2019;

• Ms. Million will provide an update on the business and the outlook for 2019; and

• finally, there will be an opportunity for questions and discussion.

After the meeting has closed, I invite you to stay for tea and coffee and our representatives who are here today can answer any further questions you might have.

I am pleased to present to you today my review of 2018, the second year both as Chairman and for Aquabotix as a publicly listed company, and an overview of Aquabotix’s prospects going forward.

The 2018 financial year was one of momentum building for Aquabotix, with a number of key achievements and developments occurring during the year and continuing on into 2019 to date. Following the first quarter of the fiscal year, the Company implemented a new strategy for market approach, focusing on the development and marketing of the Company’s SwarmDiver[TM ] product specifically in the defence industry. This product is a distinct offering and the first of its kind as a micro-sized hybrid autonomous unmanned underwater and surface vehicle. Since narrowing its focus, the Company has demonstrated success in capturing government contracts, securing non-dilutive funding, and building relationships with key customers to capitalize on the Company’s unique positioning in the underwater robotics domain.

Additionally, the Company has reduced its cashflows considerably, cutting net cash used in operations by over 65% from approximately $1.7 million for the 30 June 2018 quarter to $576,000 for the 31 December 2018 quarter. At the same time, while cash inflows for the year were modest, the Company has demonstrated real progress in securing non-dilutive customer funding and setting itself up to capture more sizeable future potential orders.

Since refining its business approach a year ago, Aquabotix has secured a total of four (4) United States military funded contracts for development, hardware, and services sales related to its SwarmDiver[TM] product. Additionally, Aquabotix has signed strategic cooperation and research agreements with large defence companies, Thales and ManTech, as well as the United States Navy. These initial successes have helped to establish the Company as a trusted partner to the military, demonstrated the Company’s credibility to both domestic and international customers, and positioned the Company well to receive additional government funds in the future.

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During the year, Aquabotix launched its SwarmDiver[TM ] system and three additional variants in that family of products. Multiple SwarmDivers[TM] can function simultaneously as a single coordinated entity, be easily controlled via one operator on the surface, and perform dives on command to collect valuable intelligence. These features, along with the system’s flexibility, make SwarmDiver[TM] an ideal low-cost solution for a broad range of mission types. This product has been well received, and the level of interest generated in SwarmDiver[TM] from potential partners and customers has exceeded the Company’s expectations.

With the generated interest in and competitive advantages of SwarmDiver[TM] , the Company is well positioned to partner with both government and large defence companies for additional product development and sizeable future hardware sales, allowing the Company to continue advancing its technology and differentiating itself from competitors in the process.

To further expand the use cases for the SwarmDiver[TM ] line and to address urgent customer needs, the SwarmDiver STEALTH, NIGHTLINE, and EDGE variants were added to the SwarmDiver family of vehicles over the past year. While the STEALTH and NIGHTLINE products are geared towards Aquabotix’s key market of focus and specialised defence applications, the EDGE product has broader applicability in governmental, defence, and commercial domains.

Aquabotix created the EDGE line of vehicles to respond to persistent and growing threats of piracy, militant, or other disruptions to commercial and governmental activities. Over the past five (5) years, there has been a notable uptick in drone boat and other improvised explosive devices attacks on commercial and military vessels, particularly in the Middle East and North Africa region. International commerce relies heavily on maritime shipping, often through geographical bottlenecks in this region.

When considering those bottlenecks convey a large portion of the world’s oil supply, it becomes clear that destabilisation could have massive economic and trade impacts. Just recently, several ships were reportedly sabotaged near the mouth of the Persian Gulf, including one Norwegian and two Saudi tankers, bringing to the global forefront the risks associated with maritime transport through bottlenecked regions especially during times of conflict. In response to these growing threats, there is a noticeable increase in focus on finding methods of locating, identifying, and neutralizing those threats. Navies and commercial shipping companies around the world are actively seeking cost-effective and man out-of-the-loop solutions for these challenges, an urgent need that Aquabotix may be uniquely situated to address.

Given the Company’s now solid trend of acquisition activity by the United States military branches, its recent success in establishing key partnerships in the defence industry, and the urgent customer requirements for product to address growing and persistent threats in the maritime domain, we are moving confidently into the 2019 fiscal year and are looking forward to updating the market on developments in the coming months.

About UUV Aquabotix Limited

Based in Sydney, Australia and Virginia and Massachusetts, USA, Aquabotix is an established underwater robotics company which manufactures and sells commercial and industrial-grade underwater drones for commercial, high-end consumer and military applications. It is also the first company globally that is offering commercially-available swarming underwater drones. Please visit www.aquabotix.com

ENDS

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