POINTERRA LIMITED — Interim / Quarterly Report 2023

Oct 30, 2022

ASX Announcement

31 October 2022

September 2022 Quarter Activities and Cash Flow Report

Highlights:

• Record quarterly cash receipts Q1 FY23 A$3.4 million

• Positive cashflow from operations A$0.2 million

• FPL Hurricane Ian storm response effort a milestone event

• Business operations self-funding organic growth

• Pointerra3D Analytics & Answers driving growth in ACV spend

• New and existing customers grow ACV spend across sectors

Pointerra Limited (ASX:3DP) (Pointerra; the Company) is pleased to provide an overview of the September 2022 quarter (Q1 FY23) activities and the associated cash flows and cash position in the Appendix 4C (attached).

The quarter was highlighted by continued expansion in the scale of Pointerra3D platform deployment by US utility customers, as well as the emerging financial contribution from the Transport and Mining, Oil & Gas sectors, reflecting the continued development and adoption of the higher-value elements of the Pointerra3D solution portfolio - Analytics and Answers.

Growth in spend by existing customers during the quarter, coupled with expansion of contracts previously announced to the ASX have generated further uplift in Pointerra’s US$ ACV run rate.

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Pointerra Limited | ABN 39 078 388 155 Registered Office: Level 4, 216 St Georges Terrace, Perth WA 6000 T +61 8 6268 2622 | F +61 8 6268 2699 | E info@pointerra.com | W pointerra.com

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Pointerra3D Solution - Sectors & Partners

Survey and Mapping

Pointerra’s customer base of small/medium survey and mapping businesses in Australia and North America continued grow throughout the quarter. As foundational suppliers of 3D data this sector also performs an important role in driving awareness of the Pointerra3D solution across other market verticals by using Pointerra3D to deliver data and derived products to their customers.

As reality capture technology advances, becomes cheaper and more accessible the Company is seeing increased adoption of Pointerra3D Core by ‘non-traditional’ survey and mapping customers which is contributing to continued growth in this important sector. These entry level customers value the rapid path to adoption they achieve through a Pointerra3D implementation.

During the Quarter the Company expanded the range of LiDAR and laser scanning sensors supported by the Pointerra3D Analytics raw data processing solution. The unique capability of the Pointerra3D platform provides speed, scale and consistency that is unachievable through any other solution. Whilst LiDAR and laser scanning hardware vendors sell proprietary desktop processing software matched to their hardware, the more progressive vendors also recognise the value a mature cloud platform brings to helping sell more sensors, which is their principal business driver. These businesses are also looking for deeper partnerships with both technical integration and sales activities where Pointerra3D assists in deal closure through the proven ability to accelerate return on investment through more efficient workflows and delivery mechanisms.

Since the commercial launch of Pointerra3D Core back in 2017, Pointerra has offered free trials of the platform through our ‘try-it’ site. Re-engineering of the site was undertaken during the quarter and will go-live during Q2 FY23 with refined messaging and marketing automation tools to guide prospective buyers through the evaluation process to sign up for a subscription. This initiative targets tens of thousands of small survey and mapping businesses and whilst the individual deal size is relatively small, the TAM (Total Addressable Market) is sizeable. The enhanced solution will deliver a frictionless, streamlined sales process freeing the sales team to focus on higher value enterprise opportunities.

AECO (Architecture, Engineering, Construction & Operation)

The AECO sector is Pointerra’s largest sector measured by TAM (Total Addressable Market) and adoption of Pointerra3D within the AECO sector continued to grow during the quarter.

During the quarter Pointerra’s product development team continued working with AEC sector customers, prospects, and partners to build and deploy additional cloud functionality designed to streamline a range inefficient Building Information Modelling (BIM), construction monitoring,

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progress reporting, and digital engineering workflows that are becoming integral to the modern AECO sector.

The addition of the “Operation” component to the Company’s former AEC acronym for the sector recognises the importance of professionals and enterprises related to the operations and maintenance of buildings and infrastructure. During the Quarter the application of Pointerra3D to support post-construction building and facilities management was expanded, and the team are currently working with a multi-national consultancy firm to develop a Smart Warehousing solution aimed at improving the safety and efficiency of warehouse operations. With Pointerra3D at its core, the solution incorporates automated updates of the 3D digital twin model, machinery, personnel tracking, IoT (Internet of Things) connectivity and management database integrations to build a live, connected Digital Twin of the facility.

Throughout FY22 and into FY23 Pointerra has partnered with Missouri based Velociti to develop and implement a geospatial analytics solution that support autonomous vehicle driving within warehouse and distribution loading facilities. Velociti is a leading US technology solutions provider specialising in IoT, digital transformation and connected supply chain delivery. To date this year 10 sites have been completed in a progressive proof-of-concept process with an additional 4 to be delivered in Q2 FY23. The Company expects that the program will scale to over 200 sites in early 2023 and will become a material contributor to recurring subscription revenue or ACV (Annual Contract Value).

In the more traditional AEC space continued growth was achieved as result of increased spend from existing customer and the onboarding of new users. A key driver of this has been the release of AEC focused analytics that simplifies and liberates capability that was previously confined to desktop applications on specialised hardware. Pointerra3D Analytics is allowing engineers to rapidly complete these complex tasks in the browser and integrate the outputs into their standard workflows.

These capabilities are another example of the disruption that Pointerra3D is bringing to traditional digital engineering workflow practices by re-imagining and simplifying complex tasks through scalable cloud analytics delivered via the browser.

Utilities (Power & Water)

Pointerra3D continues to evolve as a “must-have” platform for the US energy utility sector, with existing customers advocating adoption of the Company’s digital twin solution amongst peer utilities, which is expected to drive further growth in platform deployment and ACV across Pointerra’s largest customer sector. The Company expects that this customer advocacy will result in lower cost of customer acquisition and subsequently higher profitability per sale as the business continues to scale across the sector.

Pointerra’s role in supporting FPL’s (Florida Power and Light) Hurricane Ian Emergency Response was a highlight of the Quarter (refer 20 October ASX announcement). Pointerra’s

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involvement was a watershed moment for the validation of Pointerra3D’s Utility and Emergency Response solution. Whilst the circumstances surrounding the storm event were devastating for millions of people, the Pointerra’s involvement has been recognised by both existing and prospective customers in the tight-knit US power utility sector.

During September the Company also successfully finalised a paid PoC with FPL to adapt existing Pointerra3D Analytics for a pole hardening (sustaining CAPEX) program over FPL’s Gulf Power network. As part of the program, Pointerra3D Analytics identifies key characteristics of an electricity pole from LiDAR and image data, generating an automated feeds to specialised engineering software that calculates the likelihood of that pole ‘failing’ under certain conditions.

Pointerra3D replaces the need for ground-based inspection to identify assets requiring attention, allowing the utility to focus on remediation works, reducing cost and accelerating execution of the program. It is expected that the solution will be implemented across the Gulf Power network late in Q2. With grid resilience and hardening a primary focus for many US utilities, Pointerra3D’s emerging role as part of a best practice solution for implementing these programs will be an additional driver of revenue growth in coming quarters.

As an extension to the North American utilities sales strategy a ‘packaged’ solution targeting smaller utility co-operatives is being developed. There are approximately 1,200 utility co-ops in the US and these organisations are typically smaller in size and budget than the Investor-Owned Utilities (IOU’s) but face similar challenges on a smaller scale. The Pointerra3D solution will help co-ops build internal capability and utilize Pointerra3D for a lower initial investment over a multi-year commitment. Engagement with prospects is underway to refine the solution, which will be ready for sale in Q3 FY23.

Mining, Oil & Gas

The Company continues to grow market share in the resources sector, with steady growth attributed to Pointerra’s “land and expand” approach whereby individual sites/assets commit to the platform to solve operational efficiency challenges and through proven success, the footprint expands to other sites and eventually to enterprise deployment. This growth trajectory is expected to accelerate as the significant safety, efficiency, and cost advantages Pointerra3D brings to the sector are recognised.

Mining. As the Pointerra3D Analytics stack for mining and extractive industries grows by solving significant operational challenges in both open cut and underground operations, so does the business case for global mining companies with diverse operating assets to invest in a single enterprise solution. Pointerra3D’s ability to simplify the technology stack for complex extractive industry operations is expected to be a significant driver of growth.

A successful paid PoC completed during the quarter for a global Tier 1 mining company has progressed to the next phase. After successfully proving Pointerra3D Analytics capability to extract single features reliably and repeatedly from SLAM (Simultaneous Location And

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Mapping) LiDAR data the scope has been expanded to include additional features as well as change monitoring/detection indicators in the underground environment and will help build out a comprehensive sector solution that can be marketed to mining and extractive industries operations globally.

Oil & Gas. Recognition of the value Pointerra3D brings to the Oil & Gas industry is also growing, with the ability for Pointerra3D to provide detailed insight across an enterprise via the digital twin representing a compelling value proposition for these large organisations, who make massive investment in generating 3D data but experience immense challenges extracting full value from that investment.

Pointerra is partnering with leading North American aerial mapping operation Barr Geospatial to develop a solution focused on the inspection and monitoring of midstream and upstream activities. The collaboration was first mentioned in the June 2022 quarterly and Barr Geospatial has become one of the largest operators of high-end Riegl aerial LiDAR sensors and is an ideal partner for growing Pointerr3D’s Analytics and Answers solutions in this large sector.

Under the partnership Pointerra3D will be used to exploit multi-epoch LiDAR data libraries to identify change and risk metrics along linear Oil & Gas infrastructure. Underpinned by a subscription revenue model that delivers insight through Pointerra3D Answers, the solution is a key pillar for growth in the Oil & Gas sector. Pointerra3D also becomes a key component in providing holistic solutions to global Tier 1 companies that operate across an integrated Oil and Gas supply chain.

The Company continues to execute against its Oil & Gas strategy focusing on production facilities throughout the quarter with numerous deals in APAC and North America progressing through the sales pipeline.

Transport (Road & Rail)

As post-Covid civil infrastructure spending accelerates globally, Pointerra3D is being used by project delivery authorities such to manage the flow of digital data throughout the project lifecycle.

In addition to the pursuits in Australia and North America the sales team are now engaged with major rail companies in the United Kingdom and Germany. The combined value proposition of Pointerra3D Core common data environment and scalable Analytics to identify change and better manage maintenance resourcing continues to strengthen Pointerra’s value proposition to this sector. Whilst enterprise sales cycles remain long, the Company expects these to compress in coming quarters as adoption and awareness across the sector grows.

Scoping work on adopting Pointerra3D for creating, managing, and analysing digital twins to support Port and Airport facilities continued during the quarter. Specifically, discussions with the Port of Seattle and Dallas Fort Worth airport are advancing in maturity. These sites are

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major transport hubs in the US with significant budgets for infrastructure upgrades over the next decade.

Linear asset feature extractions using Pointerra3D Analytics for both road and rail remains a key focus for the development team. As the maturity of these tools converges on those which are widely accepted within the Utility Sector, there will be a significant uptick in adoption from an industry hungry for more efficient ways to manage their critical infrastructure.

Defense & Intelligence

The Company continues to pursue a targeted approach to the Defense sector in the US by developing direct opportunities and partnering with Defense contractors who hold valuable contract vehicles.

Throughout the quarter the Pointerra Defense team attended 4 major Defense Industry trade shows. These in person events are essential for developing relationships, building brand awareness, demonstrating capability and progressing the sales pipeline.

During the quarter Pointerra teamed with a Tier 1 US Defense contractor to bid on a multi-year contract valued at circa US$1B. The outcome of the bid is expected to be known in Q3 FY23. The terms of our current teaming agreement prevent disclosure of the contractor or specific contract however the Company will inform the market of material developments as required.

Presentations made in August 2022 to the Australian Defence Force (ADF) were well received and have been a source for ongoing dialogue as Pointerra3D’s situational awareness capabilities are matched to the key challenges faced by the ADF.

Pointerra’s investment in the long sales cycles associated with securing material defense and intelligence contracts is beginning to yield results as awareness grows within defense agencies and the broader contractor community.

Solution Development and R&D Activities

Solution Development

The Pointerra3D platform is continually being enhanced in response to customer requests and in line with the Company’s strategic product roadmap. Details of released changes and enhancements can be found in the regularly updated platform release notes on the Pointerra platform. A few of the more significant highlights for this quarter are detailed below.

Hurricane Ian - Platform Scalability Validation

As noted in the Company’s ASX announcement on 20 October, Pointerra3D was mobilised by FPL for rapid data ingestion, processing, and analytics on data captured over the area impacted by the storm immediately after Hurricane Ian passed over southern Florida. With only a few days notice to prepare and stress test the platform in anticipation of the expected spike in

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compute load, the Pointerra3D’s automated load balancing algorithms easily handled the increased data volumes and analytics compute processing.

Over the duration of the storm response effort, there were more than 1,500 additional AWS compute instances (on top of the typical platform base load) utilised to process and analyse data, including:

• Ingesting raw sensor information (GPS, IMU, LiDAR files) from aircraft/drones through our cloud-based sensor processing workflows to create registered 3D point clouds;

• Rapidly processing over 15TB of new and historical baseline 3D point cloud and 2D imagery data into the platform for enterprise-wide access by FPL storm response business units; and

• Running Pointerra3D’s automated network feature extraction and change detection Analytics.

Pointerra3D Analytics identified and analysed defects on over 18,500 poles with results delivered into the Pointerra3D Answers Utility Explorer providing FPL emergency response teams with unprecedented situational awareness of the current state of the network for all areas that were captured.

The proof of Pointerra3D’s ability to rapidly scale the platform with minimal notice was an important validation of the engineering effort that has gone into building the tech stack to create a truly scalable 3D data solution.

AWS Partnership & Certification Activities

Pointerra is currently completing a range of partnership/certification activities with AWS in both Australia and the US. The primary engineering component of this has been a platform architecture review (called the AWS Well-Architected Framework). This involves intensive review and guidance from AWS specialists to ensure that the Pointerra platform conforms to recommended approaches to using and configuring AWS services to maximise security, performance and scalability. This program also forms the basis of moving toward certification as an AWS ISV (Independent Software Vendor). One key outcome of ISV certification is that the Pointerra platform can then be incorporated into AWS sales channels.

Engineering Team Growth

Recruitment of software developers in both Australia and the US continues to be a challenge for tech companies in the current market. The engineering team is actively recruiting high quality team members to increase the development bandwidth across the core platform and analytics functionality. Three new software developers recently started in the Perth Office and ongoing recruitment efforts are seeking to fill additional roles in both Australia and the US.

Solution Development

The Pointerra platform is continually being enhanced in response to customer requests and in line with the product roadmap. Details of released changes and enhancements can be found

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in the regularly updated platform release notes on the Pointerra platform. A few of the more significant highlights for this quarter are detailed below.

Pointerra3D Core. Several new features have been added to the platform, including:

User interface refresh

Both the viewer and the portal continue to have updates to the UI/UX to provide a more modern look and feel and to improve the user workflows for common tasks. This will form the basis of more comprehensive changes to be rolled out over the next year.

Scanview/3D integration

Scanview mode, which allows spherical “bubble views” from a laser scanner’s perspective, now has an option to create a split-screen view and interact with the full 3D point cloud. This enables users to utilise the visual simplicity of the Scanview mode while also having the capability to view and create 3D layers such as drawing overlays and points of interest.

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Scanview mode and 3D viewer enhancement

Improved support for 3D CAD models

In line with the strategic objective of growing the capability of Pointerra3D for the AEC sector, Pointerra has been working on platform integration with Pointfuse, a UK-based company with patented technology that can convert point clouds into intelligent meshes and then into classified CAD models, a process referred to as Scan-to-BIM. The CAD models generated by this workflow are easier to handle in 3[rd] party construction design software, such as AutoCAD or Microstation.

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Pointerra have “cloud-enabled” the Pointfuse desktop-based point cloud to mesh conversion engine so that the heavy computation step of turning the point cloud into a mesh can now be performed using Pointerra’s AWS cloud compute platform rather than having to load the point cloud onto the user’s own desktop/laptop. This capability allows Pointerra3D Core users to run a point cloud to mesh conversion on their data and then download the resulting project files to further segment and classify within the Pointfuse desktop application.

To support this streamlined workflow improvements have been made to the ingestion and display of 3D CAD model data. For example, multiple CAD models can now be imported and grouped into layers. This capability allows users to control display of the individual components/elements (e.g. walls, floors, doors) that are generated by the Pointfuse mesh classification process, meaning that users can preview the point cloud to mesh results before downloading the fully Pointfuse project and then host the finished CAD model in Pointerra3D.

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Pointfuse unclassified mesh (after processing in Pointfuse application)

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Pointfuse classified mesh created from point cloud

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Pointerra3D Analytics

Point cloud change detection

Support for viewing the outcomes of the change detection analytics has been added into the viewer and is now fully deployed for Pointerra3D Analytics customers. The change detection analytic takes two point clouds as inputs (typically different epoch captures of the same area) and determines the closest distance between points in one point cloud and points in the other. Points with large distances to any points in the other point cloud generally indicate areas of change. This can be used to detect changes such as ground slippages, mining progressions, or movements in buildings over time.

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Change Detection Analytics 3D View (left) and Section View (right)

Point cloud to 3D model spatial analytics

Analytics that computes the disparity between a point cloud and a 3D model/surface is in the final stages of testing before release to customers. This analytic will determine how close each point in the point cloud is to the provided surface models (often CAD design models). A typical application for this analytic is known as clash detection. In this application an as-built point cloud can be evaluated against a CAD design model (for example, a new part that is planned to be installed in a facility) to determine if any of the existing points are too close, or even inside a planned design model.

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Point Cloud to CAD Design Model Clash Detection

Poles and Wires (Electrical Network) Improvements

The Pointerra3D poles and wires Analytics can now be pre-seeded with either an existing network digital twin model or a pre-labelled (classified) point cloud. In both cases, the existing information can be used to guide the search for objects when analytics is performed on the target point cloud.

The primary scenario for this workflow is when there has been repeat captures over time and there exists accurate baseline data from previous Pointerra analytics runs (or external data). In this use case, the expectation is that most of the network infrastructure has not changed its physical position/location, thus decreasing the search space and speeding up the generation of analytics.

Pointerra3D Answers

Utility Explorer

Utility Explorer continues to evolve as the primary data viewing and analysis platform for Pointerra’s digital twin models. While Pointerra3D Analytics remains as the repository and “power user” platform for running and verifying analytics, the final published, version of the

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data are made available via Utility Explorer for simplified consumption by a wider audience across the enterprise.

Recent development work has focussed on adding support for ingesting digital twin models from external sources (not created by Pointerra3D Analytics). This allows customers with existing 3D digital twin network models to ingest their historical data and combine it with newly created data from Pointerra3D Analytics.

Support for large megapixel 2D imagery has also been improved. Larger images can now be pre-processed into tiled pyramids to allow for better streaming performance across the internet.

Research and Development

Pointerra3D R&D efforts continue to focus on the following strategic areas:

R&D efforts continue to focus on the following strategic areas:

1. Development of a platform to underpin the delivery of point cloud analytics to Pointerra customers;

2. Developing a catalogue of analytics algorithms, in particular extraction of objects of interest from large scale datasets (e.g. poles, trees, signs), automatic point cloud classification and imagery analysis;

3. Broadening the platform to support storage, visualisation and analysis of complementary 3D data sources, including imagery, CAD models and vector layers;

4. Reducing the cost of providing the service through changing the way that Pointerra3D’s processed data is stored and streamed to client browsers and applications using the AWS cloud platform;

5. Enhancing the core platform to support the development of additional applications that utilise the core Pointerra API and available data; and

6. Exploring methods to apply neural network machine learning technology to 3D point cloud data.

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Corporate & Compliance

Pointerra Team Growth

During the Quarter the Company continued to make investments in people across the development and sales team to provide additional scale in meeting demand for solution development and address sector sales opportunities in Australia and the US.

Headcount remained steady at 32 (26 FTE’s) during the quarter, with 19 in Australia and 13 in the US. The Company expects to make additional appointments in coming quarters as the business continues to scale.

Cashflow & ACV

Consistent with previous quarters, the Company again highlights that quarter-on-quarter cash receipts may continue to be variable as new customers are on-boarded following contract award with a variety of different payment cycles including monthly, quarterly, annually, and even multi-year in advance agreements.

This ongoing variability in quarterly cash receipts is however expected to smooth out in time as ACV continues to grow and the size and diversity of Pointerra3D’s portfolio of Core, Analytics and Answers customers continues to mature.

Growth in spend by existing customers during the quarter, coupled with the material contract awards announced during FY22 have generated further uplift in Pointerra’s US$ ACV run rate

Cash Receipts

During the quarter ended 30 September 2022 the Company received A$3.41 million in customer receipts, compared to the 30 June 2022 quarter figure of A$1.67 million, which contributed to a net cash inflow from operating activities of A$0.21 million for the quarter.

Cash Outflows (Summary of Expenditure)

During the quarter, payments for Research and Development represented salary allocations of Pointerra team members who are 100% focused on R&D activities.

Payments for Product Manufacturing and Operating Costs represent the portion of Pointerra’s AWS (Amazon Web Services) cloud platform expenditure allocated to supporting paying customers as well as 3[rd] party data procurement costs made on behalf of customers.

Payments for Staff Costs represent salaries for administration, sales, and general management activities by Pointerra team members.

Payments for Administration and Corporate Costs represent general costs associated with running the Company, including conference travel and attendance costs, ASX fees, legal fees, adviser fees and premises rent.

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Cash outflows for the quarter were in line with management expectations and the cash balance as of 30 September 2022 amounted to A$3.93 million. Please refer to the attached Appendix 4C for further details on cash flows for the quarter.

The aggregate amount of payments to related parties and their associates included in the current quarter cash flows from operating activities were A$0.11 million comprising Directors fees, salaries, and superannuation.

This announcement has been authorised and approved for release by the Board of Pointerra Limited.

ENDS

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Rule 4.7B

Appendix 4C

Quarterly cash flow report for entities subject to Listing Rule 4.7B

Name of entity

Pointerra Limited ABN Quarter ended (“current quarter”) 39 078 388 155 30 September 2022

Consolidated statement of cash flows	Consolidated statement of cash flows	Current quarter	Year to date
		$A’000	(3 months)
			$A’000
1.	Cash flows from operating activities
1.1	Receipts from customers	3,411	3,411
1.2	Payments for
	(a) research and development	(342)	(342)
	(b) product manufacturing and operating	(210)	(210)
	costs
	(c) advertising and marketing	(55)	(55)
	(d) leased assets	-	-
	(e) staff costs	(1,530)	(1,530)
	(f) administration and corporate costs	(1,030)	(1,030)
1.3	Dividends received (see note 3)	-	-
1.4	Interest received	-	-
1.5	Interest and other costs of finance paid	(7)	(7)
1.6	Income taxes paid	-	-
1.7	Government grants and tax incentives	-	-
1.8	Other (provide details if material)	(24)	(24)
1.9	Net cash from / (used in) operating	213	213
	activities
2.	Cash flows from investing activities
2.1	Payments to acquire or for:
	(a) entities	-	-
	(b) businesses	-	-
	(c) property, plant and equipment	(14)	(14)
	(d) investments	-	-
	(e) intellectual property	(9)	(9)
	(f) other non-current assets	-	-

ASX Listing Rules Appendix 4C (17/07/20)

Page 1

• See chapter 19 of the ASX Listing Rules for defined terms.

Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B

Consolidated statement of cash flows	Consolidated statement of cash flows	Current quarter	Year to date
		$A’000	(3 months)
			$A’000
2.2	Proceeds from disposal of:
	(a) entities	-	-
	(b) businesses	-	-
	(c) property, plant and equipment	-	-
	(d) investments	-	-
	(e) intellectual property	-	-
	(f) other non-current assets	-	-
2.3	Cash flows from loans to other entities	-	-
2.4	Dividends received (see note 3)	-	-
2.5	Other (provide details if material)	-	-
2.6	Net cash from / (used in) investing	(23)	(23)
	activities
3.	Cash flows from financing activities
3.1	Proceeds from issues of equity securities
	(excluding convertible debt securities)	-	-
3.2	Proceeds from issue of convertible debt	-	-
	securities
3.3	Proceeds from exercise of options	-	-
3.4	Transaction costs related to issues of	-	-
	equity securities or convertible debt
	securities
3.5	Proceeds from borrowings	-	-
3.6	Repayment of borrowings	-	-
3.7	Transaction costs related to loans and	-	-
	borrowings
3.8	Dividends paid	-	-
3.9	Other (provide details if material)	-	-
3.10	Net cash from / (used in) financing	-	-
	activities
4.	Net increase / (decrease) in cash and
	cash equivalents for the period
4.1	Cash and cash equivalents at beginning of
	period	3,596	3,596
4.2	Net cash from / (used in) operating	213	213
	activities (item 1.9 above)
4.3	Net cash from / (used in) investing activities	(23)	(23)
	(item 2.6 above)

ASX Listing Rules Appendix 4C (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B

Consolidated statement of cash flows	Consolidated statement of cash flows		Current quarter		Year to date
			$A’000		(3 months)
					$A’000
4.4	Net cash from / (used in) financing activities		-		-
	(item 3.10 above)
4.5	Effect of movement in exchange rates on		143		143
	cash held
4.6	Cash and cash equivalents at end of		3,929		3,929
	period
5.	Reconciliation of cash and cash		Current quarter		Previous quarter
	equivalents		$A’000		$A’000
	at the end of the quarter (as shown in the
	consolidated statement of cash flows) to the
	related items in the accounts
5.1	Bank balances		3,879		3,546
5.2	Call deposits		50		50
5.3	Bank overdrafts		-		-
5.4	Other (provide details)		-		-
5.5	Cash and cash equivalents at end of		3,929		3,596
	quarter (should equal item 4.6 above)
6.	Payments to related parties of the entity and their				Current quarter
	associates				$A'000
6.1	Aggregate amount of payments to related parties and their				(110)
	associates included in item 1
6.2	Aggregate amount of payments to related parties and their				-
	associates included in item 2
Note: if any amounts are shown in items 6.1 or 6.2, your quarterly		activity report must include a description of, and an
explanation for, such payments.

ASX Listing Rules Appendix 4C (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B

7.	Financing facilities Total facility	Amount drawn at
	Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. amount at quarter end $A’000	quarter end $A’000
7.1	Loan facilities -	-
7.2	Credit standby arrangements -	-
7.3	Other (please specify) -	-
7.4	Total financing facilities -	-
7.5	Unused financing facilities available at quarter end	-
7.6	Include in the box below a description of each facility above, including the lender, interest
	rate, maturity date and whether it is secured or unsecured. If any additional financing
	facilities have been entered into or are proposed to be entered into after quarter end,
	include a note providing details of those facilities as well.
8.	Estimated cash available for future operating activities	$A’000
8.1	Net cash from / (used in) operating activities (item 1.9)	212
8.2	Cash and cash equivalents at quarter end (item 4.6)	3,929
8.3	Unused finance facilities available at quarter end (item 7.5)	-
8.4	Total available funding (item 8.2 + item 8.3)	3,929
8.5	Estimated quarters of funding available (item 8.4 divided by item 8.1)	N/A
	Note: if the entity has reported positive net operating cash flows in item 1.9, answer item 8.5 as “N/A”. Otherwise, a
	figure for the estimated quarters of funding available must be included in item 8.5.
8.6	If item 8.5 is less than 2 quarters, please provide answers to the following questions:
	8.6.1 Does the entity expect that it will continue to have the current	level of net operating
	cash flows for the time being and, if not, why not?
	Answer:
	8.6.2 Has the entity taken any steps, or does it propose to take any steps, to raise further
	cash to fund its operations and, if so, what are those steps and how likely does it
	believe that they will be successful?
	Answer:
	8.6.3 Does the entity expect to be able to continue its operations and to meet its business
	objectives and, if so, on what basis?
	Answer:
	Note: where item 8.5 is less than 2 quarters, all of questions 8.6.1, 8.6.2 and 8.6.3 above must be answered.

ASX Listing Rules Appendix 4C (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B

Compliance statement

• 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.

• 2 This statement gives a true and fair view of the matters disclosed.

Date: ........................31 October 2022..............................

Authorised by: ...........................The Board.....................................

(Name of body or officer authorising release – see note 4)

Notes

1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so.

2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standard applies to this report.

3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.

4. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [ name of board committee – eg Audit and Risk Committee ]”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”.

5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations , the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively.

ASX Listing Rules Appendix 4C (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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