POINTERRA LIMITED — Interim / Quarterly Report 2022

Apr 28, 2022

ASX Announcement

29 April 2022

March 2022 Quarter Activities and Cash Flow Report

Highlights:

• Landmark quarter – concurrently scaling US utility sector deployment across 4 key customers and growing ACV

• Q3 cash receipts A$2.4 million (71% YOY growth v Q3 FY21)

• YTD FYY22 cash receipts A$6.2 million (138% YOY growth v FY21)

• Consecutive cash flow positive quarter from operations (A$0.1

• million)

• Business is self-funding organic growth

• Pointerra3D Analytics & Answers driving growth in ACV spend

• New customers added + existing customers grow ACV spend

across all market sectors

Pointerra Limited (ASX:3DP) (Pointerra; the Company) is pleased to provide an overview of the March 2022 quarter (Q3 FY22) activities and the associated cash flows and cash position in the Appendix 4C (attached).

The quarter was highlighted by step-change adoption in the scale of Pointerra3D platform deployment by US utility customers FPL, PG&E, Entergy & Eversource and reflects the continued development and adoption of the higher-value elements of the Pointerra3D solution portfolio - Analytics and Answers.

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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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Growth in spend by existing customers during the quarter, coupled with expansion of the material contracts previously announced to the ASX on 20 September 2021 and 14 December 2021 have generated further uplift in Pointerra’s US$ ACV run rate.

Pointerra3D Solution - Sectors & Partners

The Company’s established and proven strategy of working closely with customers, prospects and partners across all 6 target market sectors (Survey & Mapping; AEC; Utilities; Transport; Mining, Oil & Gas; Defense & Intelligence) continues to drive and direct solution development and enhancement.

During the quarter the Company continued to grow the ACV spend by existing customers and also added new customers and prospects across Pointerra’s 6 target sectors and industries:

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Survey and Mapping

The Company’s traditional survey and mapping sector customer base continued to expand throughout the quarter with growth being delivered through a combination of new customers and growth in existing accounts. As the commercial benefits of the workflow efficiencies delivered by Pointerra3D Core provides are realised, customers in this sector typically look to expand their user licenses to provide greater access across their organisation and client base.

The newly implemented ability to automatically generate derived products from the point cloud (DEM, DSM, contours) means customers no longer need to store multiple copies or data formats alongside the base data further enhancing Pointerra3D Core’s unique selling point as a digital delivery mechanism.

As these survey and mapping customers seek ways to deliver greater value to their customers, they are also expanding their commitment to Pointerra3D Analytics for data processing and digital twin generation, delivering additional workflow savings to these innovative customers.

AEC (Architecture, Engineering & Construction)

The AEC sector is Pointerra’s largest sector measured by TAM (Total Addressable Market) and exhibited steady growth during the quarter.

Partnerships with global engineering firms continued to mature during the quarter and the Company now has Pointerra3D implementations across 3 continents, with the platform becoming increasingly integrated across the AEC enterprise to solve an array of digital engineering workflow challenges.

In addition to providing traditional digital data management and processing solutions, Pointerra3D has been deployed by these AEC sector customers to support a variety of construction, 3D modelling, digital twin, facilities management, and decommissioning applications.

Pointerra is experiencing a similar development path in AEC to that witnessed in the Utilities sector, where individual customers are driving the product R&D roadmap by providing specific requests for platform enhancements. The considerable development effort directed toward meeting the demands of this sector grows Pointerra3D’s overall value proposition as these customer specific problems are then transferrable across the entire sector.

As Pointerra3D becomes increasingly central to the creation, management, integration and analysis of digital twins the Company is well positioned to take advantage of the unprecedented levels of civil infrastructure spending occurring globally as nations look to rebuild their economies in a post-COVID world.

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Utilities (Power & Water)

The Utility sector remains Pointerra’s largest single contributor to ACV and whilst the US continues to dominate geographically, the quarter saw successful paid POC’s delivered for Australian customers, which the Company expects to lead to new enterprise contracts in coming quarters, with new prospective clients in the United Kingdom and Europe also entering the sales pipeline during the quarter.

As enterprise deployments continue in the US, the Company continues to identify opportunities to materially expand the Pointerra3D subscriptions by these customers. Pointerra has cemented its position as an independent, trusted advisor with the skills and experience to develop programmatic approaches to applying digital twins for best-practice power utility management.

A key focus area of development has been in the integration of multi-modal data types including point clouds, imagery, outage information, live weather feeds and insitu-monitoring data to develop intelligent digital twins that provide a realistic virtual representation of the physical world.

Pointerra3D’s open API environment is also encouraging a convergence of customers across the Mapping, Engineering and Utility sectors. As Pointerra’s presence grows in each of these verticals there is an emerging network effect that is further streamlining workflow, quality processes and digital twin evolution, with raw data and derived products remaining in the Pointerra3D platform across multiple customer accounts.

The Company again expects that Pointerra3D’s central role in the digital twin lifecycle of power utilities will remain a continued driver of material ACV growth in coming quarters.

Mining, Oil & Gas

Pointerra3D’s penetration into the natural resources sector continues to grow as mining customers begin to understand the extensibility of the platform and its application in helping manage whole-of-mine operations.

Throughout the quarter the Company worked with existing customers to extend the Pointerra3D Analytics stack into underground applications to support mine planning, operational and safety use cases. This development is helping customers create a comprehensive digital twin combining surface and sub-surface assets, all hosted in Pointerra3D and available for use across the operation and enterprise.

The Company has also been progressing partnerships with remote sensing hardware vendors focused on the mining sector to deliver better outcomes for mutual customers. A key challenge for mine operators and sensor manufacturers is the need to rapidly turn data into actionable information, with time delays undermining the adoption of remote sensing techniques across the mining sector globally.

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Pointerra3D is solving these problems by allowing sensor vendors to publish raw outputs directly to Pointerra3D to run Analytics and Answers, delivering timely insight to customers and further accelerating adoption. New partnerships with these sensor vendors include options to bundle Pointerra3D subscriptions with hardware purchases effectively opening new light-touch sales channels across the globe.

In January the Company invested further in the sales team for this sector, with a new role created to focus on building Oil & Gas customers, with an initial strategy of using Pointerra3D Core to support the global offshore inspection, repair and maintenance industry.

Typical Oil & Gas sector challenges are magnified by infrequent and costly offshore site visits, necessitating on-demand access to digital twins to support essential operational requirements. Pointerra3D is helping shrink workflows across a range of maintenance activities, reducing the need for field inspections and speeding up task work order generation through existing Pointerra3D platform functionality. The Company expects this targeted, high-value sector to become a material contributor to ACV growth in coming quarters.

Transport (Road & Rail)

As infrastructure spending accelerates in Australia, Pointerra3D is being used by project delivery authorities such as the Major Transport Infrastructure Authority and Suburban Rail Loop Authority in Victoria, to manage the flow of digital data throughout the project lifecycle.

From providing base survey data to support tendering, to receiving design models preconstruction and finally as-constructed models at build completion, Pointerra3D provides the common environment to manage data and audit project progress.

The commitment to Pointerra3D by the Australian transport sector was further evident this quarter with several advertised roles explicitly stating experience using the Pointerra3D platform as a required skill for the role.

Delivery of targeted analytics to the Rail Sector continues to grow through the work being undertaken with Sydney Trains. The success of this program and the transferability of the solution is being well received by large rail operators in the US and UK markets. The flexibility of Poinetrra3D to integrate across the business and incorporate inputs from other critical business systems has been identified as a major differentiator from more traditional digital workflow platforms.

The expansion of the US sales team during the quarter will enhance the Company’s ability to further grow the ACV spend by this sector through the remainder of calendar 2022. As Pointerra’s customer base continues to expand within this sector, the Company expects a similar convergence of customers as witnessed in the utility sector.

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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.

During the quarter the Company partnered with a Defense contractor to build Pointerra3D into an existing mapping solution contract renewal being sought later in calendar 2022.

Pointerra3D digital twin solutions are also being used to support a contractor supplying security and intelligence services to the upcoming NFL draft in Las Vegas.

More generally, during the quarter the US team continued to engage with a wide cross section of Defense agencies and contractor organisations with a number of these maturing to second and third level demonstrations focused on proving how Pointerra3D solves specific problems identified during earlier discovery phases and exploring the commercial and technical models for engagement.

Pointerra3D Analytics was also used during an active military exercise during the quarter to prove out identified use cases in an operational environment. The findings of the exercise are currently under review and next steps being discussed.

The Company’s strategy of lodging applications for funding through the US Federal Government’s Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) as a pathway for direct engagement with the US Military continues. Through the active participation to date Pointerra expects to see topics specifically targeted toward Poinetrra3D solutions being released in the future, resulting in fewer funding applications and enhanced likelihood of success.

Strategic Collaborations & Partnerships

The Company has learned that deep domain knowledge in product and sales resources drives acceleration in customer acquisition and growth in customer spend across Pointerra’s 6 target sectors and industries. This domain knowledge is being obtained through targeted people hires and is also accessed through collaborating and partnering with specialist companies in each sector.

The Company has also learned that Pointerra’s proprietary 3D data technology is attractive to specialist sector solution providers and experienced growth in companies seeking to partner with Pointerra during the quarter.

Pointerra3D’s value proposition has been enhanced for customers through partnerships with organisations including PointFuse, Nearmap, Cylcomedia, Emesent, Here and TomTom, who provide additional input to Pointerra3D Core and Pointerra3D Analytics solutions.

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Solution Development and R&D Activities

Solution Development

The Pointerra 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.

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

DEM/DSM enhancements

Support for both generation and ingestion of DEM (digital elevation model) and DSM (digital surface model) data has now been released to all customers. This includes the ability to ingest DEM data and access it in the Pointerra3D viewer as a replacement for the default terrain.

The DEM export options now include the ability to generate contours as an additional output format. The contour height interval can be configured as well as a minimum area criteria to filter out small contours. Output formats currently supported include SHP and DXF.

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Data upload improvements

Resumable upload capability has been added. This allows for data uploads (via the browser) to be interrupted and resumed without the need to upload any files that have been previously transferred. This further enhances the desktop to cloud workflow for customers and mitigates the impact of internet network outages and other scenarios that have previously required restarting the data upload process.

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Support for data ingestion from Microsoft Azure cloud storage services has been added. This allows customers to initiate a direct cloud-to-cloud transfer to Pointerra in situations where they already have data files stored in Azure.

Point cloud, panoramic photo, and digital twin integration

For spherical image viewing (both Pointerra3D ScanView and 360 photo datasets), it is now possible to overlay points of interest (POIs), drawing layers and other vector information (e.g. digital twin models from Pointerra3D analytics) on top of the spherical views.

The ability to link imagery data with the 3D information (point clouds, CAD models, etc) not only enhances the end-user visualisation experience, but more importantly, has the potential to enable a range of analytics/machine learning workflows that can make use of data fusion between the 3D point cloud information and the imagery – for example more robust object recognition for road/rail transportation analytics.

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The ability to do the reverse and use well-aligned photos to turn a photo pixel location into a 3D coordinate is now in beta testing mode. This leverages Pointerra’s proprietary data format to efficiently perform a ray cast into the point cloud to find a captured 3D point (if it exists) that best corresponds to the photo pixel, and hence determine an estimate of the 3D coordinate for points in the photo.

This functionality will allow customers with high quality MLS (mobile laser scanning) data and 360 photos to have the option to work in either the point cloud or the photos depending on what is most suitable for the situation. It also opens the potential to allow features extracted (e.g. curbs, signs) from photo data to be associated with true 3D coordinates.

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Image above shows synchronised view of a Pointerra poles and wires digital twin model overlaid on the point cloud (left) and the panoramic imagery (right)

Pointerra3D Analytics

Autoclassification and LiDAR Analytics

With the existing auto-classification analytics in Pointerra3D now being used by a growing number of customers, development focus has shifted to accelerating R&D around implementing trained machine learning (neural network) approaches to point cloud classification.

There are some unique aspects to the current Pointerra analytics platform that we believe create opportunities to develop a machine learning approach that is constantly improving in accuracy. In particular, the current in-browser edit tools can provide user-driven feedback data to know exactly where misclassifications are occurring, and to automatically generate new training data to improve future results.

Change detection

A first version of Pointerra3D Analytics that identifies change between point clouds has been released. This is underpinning elements of the post-storm response project that we are currently undertaking for a US customer – to rapidly identify areas of the network that have changed (e.g. a tree has fallen) and to link this with the digital twin data to identify at-risk areas of the network infrastructure immediately after a significant weather event.

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Electric Utility Digital Twins

An initial version of an algorithm to compute the differences between 2 versions of a network digital twin (generated by Pointerra3D Analytics) has now been released. This work underpins new functionality to provide rapid detection of potential hazards and electricity supply issues in post storm response scenarios. The algorithm provides a means to determine what has changed (e.g. a pole is now leaning more than the baseline data) and to allow a user to view multiple epochs of the point cloud to visually validate any change.

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Map view identifies a network change (new pole added) and selected area opens split-screen point cloud and digital twin views to validate

Other platform improvements of note include:

• Wire catenary models now very accurately fit large spans by estimating and incorporating allowance for wire sway and other variations that may have been present during capture.

• Poles with large diameters are now automatically refined to provide an improved estimate of the pole centre coordinate.

• Full clearance sample data (at 1m intervals) available for display in the 3D viewer window

• • There is now support for viewing the pole light attachments found by the analytics, along with specific tools to edit and create light attachments.

• Further improvements to the scalability of Poles and Wires analytics enhances performance on very large (geographic extent) point clouds.

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Neural network-based machine learning techniques (AI) are also being investigated for the purpose of improving the current Pointerra3D Analytics stack. Initially this is targeted at reducing the number of errors in the network creation algorithms (e.g. confusing a tree with a pole) and is expected to reduce the reliance on human generation of analytics over time.

Pointerra3D Answers - Utility Explorer

Utility Explorer is the most advanced expression of the Pointerra3D Answers solution stack and continues to evolve as the primary data viewing and analysis platform for Pointerra’s digital twin models in the utility sector. While Pointerra3D remains as the repository and “power user” platform for running and verifying analytics, the final, published, version of the data are made available to Utility Explorer for consumption by a wider audience across the enterprise.

Recent enhancements to the Utility Explorer platform incorporate a new visualisation environment (Change Explorer) to enable customers to compare baseline utility network digital twins against post-storm surveys to quantify major disruptions on their network. Simple filters can rapidly identify the specific location and the asset that is compromised in a few hours post survey.

In line with this strategy, a new Change Explorer view has been added that allows users to work with the results of both point cloud and digital twin change detection analytics.

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To provide enhanced understanding of the Utility Explorer asset data in context, the ability to link in a range of external data layers, such as imagery and mapping services has been added. For example, a customer can now link in their own Nearmap imagery subscription or Cyclomedia panoramic imagery service as a layer of the map.

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Integrations have also been a focus of Utility Explorer to provide a richer environment to extract answers and drive immediate action. Overlaying internal or external web map layers including weather radars, external 'off the shelf' 3D and imagery layers and support for external API integration enable one extensible platform from which businesses can make critical decisions.

Research and Development

Pointerra3D 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 Pointerra3D Core;

2. Developing a catalogue of analytics algorithms (Pointerra3D Analytics), 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 types, including imagery, CAD and vector layers;

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

5. Enhancing the core web platform to support the development of addition apps 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 33 (31 FTE’s) during the quarter, with 20 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 to the ASX on 14 December 2021 have generated further uplift in Pointerra’s US$ ACV run rate.

Cash Receipts

During the quarter ended 31 March 2022 the Company received A$2.36 million in customer receipts, compared to the December 2021 quarter figure of A$2.85 million, which contributed to a net cash inflow from operating activities of A$0.10 million for the quarter.

Cash Outflows (Summary of Expenditure)

During the quarter, payments for Research and Development of A$0.435 million 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.

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

Cash outflows for the quarter were in line with management expectations and the cash balance as of 31 March 2022 amounted to A$4.86 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$0.034 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

Quarter ended (“current quarter”)

ABN 39 078 388 155 31 March 2022

Consolidated statement of cash flows	Consolidated statement of cash flows	Current quarter	Year to date
		$A’000	(9 months)
			$A’000
1.	Cash flows from operating activities
1.1	Receipts from customers	2,360	6,192
1.2	Payments for
	(a) research and development	(435)	(1,057)
	(b) product manufacturing and operating	(374)	(960)
	costs
	(c) advertising and marketing	(41)	(178)
	(d) leased assets	-	-
	(e) staff costs	(989)	(2,901)
	(f) administration and corporate costs	(446)	(1,140)
1.3	Dividends received (see note 3)	-	-
1.4	Interest received	-	-
1.5	Interest and other costs of finance paid	(8)	(20)
1.6	Income taxes paid	-	-
1.7	Government grants and tax incentives	-	-
1.8	Other (provide details if material)	(3)	(3)
1.9	Net cash from / (used in) operating	64	(67)
	activities
2.	Cash flows from investing activities
2.1	Payments to acquire or for:
	(a) entities	-	-
	(b) businesses	-	-
	(c) property, plant and equipment	(39)	(143)
	(d) investments	-	-
	(e) intellectual property	(3)	(18)
	(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	(9 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	(42)	(161)
	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	4,987	5,179
4.2	Net cash from / (used in) operating	64	(67)
	activities (item 1.9 above)
4.3	Net cash from / (used in) investing activities	(42)	(161)
	(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		(9 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		(144)		(86)
	cash held
4.6	Cash and cash equivalents at end of		4,865		4,865
	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		4,815		4,937
5.2	Call deposits		50		50
5.3	Bank overdrafts		-		-
5.4	Other (provide details)		-		-
5.5	Cash and cash equivalents at end of		4,865		4,987
	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				(34)
	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)		64
8.2	Cash and cash equivalents at quarter end (item 4.6)		4,865
8.3	Unused finance facilities available at quarter end (item 7.5)		-
8.4	Total available funding (item 8.2 + item 8.3)		4,929
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: N/A
	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: N/A
	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: N/A
	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: ...................29 April 2022...........................................

Authorised by: ......................The Board of Directors.........................

(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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