STRAKER LIMITED — Capital/Financing Update 2019

Oct 17, 2019

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Straker Translations Limited Level 2, Building 3 61 Constellation Drive Rosedale 0632 NEW ZEALAND

ARBN: 628 707 399 Ph: +64 9 801 0648

www.strakertranslations.com investors@strakertranslations.com

ASX ANNOUNCEMENT – For immediate release

18 October 2019

STRAKER TRANSLATIONS PARTNERS WITH APPTEK TO EXPAND CUSTOMER BASE AND ENHANCE LOCALISATION OFFERING

• Key strategic partnership with a world-leading automated speech recognition and neural machine translation technology company

• Automating the sub-titling and closed captioning process, the partnership provides a unique solution at scale for global media companies

• Enhances Straker’s media localisation offering, which is the fastest growing segment of the global translation industry

• Expands Straker’s customer base and supports additional services on Straker’s RAY AI platform

Straker Translations Limited (ASX: STG) is pleased to announce it has signed a partnership agreement with Washington D.C.-based Applications Technology LLC (AppTek), a world-leader in next-generation artificial intelligence and machine learning technologies for automatic speech recognition, neural machine translation, and natural language understanding solutions. This partnership will further extend Straker’s technological advantage in the global translation industry.

AppTek provides world-leading automatic speech recognition, neural machine translation and natural language understanding technologies. It utilises machine learning and deep neural networks to automatically transcribe, translate and understand speech and text data, delivering more accurate and efficient tools to power the most robust enterprise and government applications.

This partnership will integrate AppTek’s automatic speech recognition technology with Straker’s RAY AI platform, improving speed, automation and accuracy, while adhering to specific rules for sub-titling, to deliver enhanced commercial outcomes for customers. The partnership also expands Straker’s customer base and speeds up the Company’s technology development in the fast-growing media localisation market.

Commenting on the partnership with AppTek, Straker’s Managing Director & CEO Grant Straker said: “Media localisation is the fastest growing segment of the global translation industry, with supply unable to keep up with the growth in demand. This partnership will enable Straker to rapidly increase the level of automation used to process speech-to-text, and transcription and text-to-screen, substantially enhancing process efficiencies and reducing the time it takes to undertake complex translations.

“As Straker further continues to automate sub-titling as a closed captioning process, integrating AppTek’s technology with our RAY AI platform enables us to offer an even more unique solution at scale for leading media companies. This, combined with our ability to offer alternative models for translation such as per-hour

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translation, will be very compelling for many media companies where the cost and time to deliver projects is restricting their ability to fully globalise. We already have a number of these media companies as customers and this partnership directly addresses their key localisation challenges.”

AppTek CEO Mudar Yaghi said: “Straker’s proprietary AI driven RAY platform is unique in that it allows the human curation step to be directly captured in the hybrid machine/human workflow of translations. We are delighted to partner with Straker, a dynamic technology driven business with a strong record of developing and utilising technology in the global localisation industry.”

Straker and AppTek will continue to explore further value accretive opportunities through this partnership over time, including looking at how they can partner to offer data-driven solutions in the localisation industry.

ENDS

For further information, please contact:

Corporate: Investors: Grant Straker, CEO and Founder Ronn Bechler E: grant@strakertranslations.com E: ronn.bechler@marketeye.com.au P: +64 21 512 484 P: +61 400 009 77

Haydn Marks, CFO E: haydn@strakertranslations.com P: +64 21 221 1040

About Straker Translations

Based in New Zealand, Straker Translations has established itself as a world leading AI data driven translation platform powering the global growth of businesses.

Straker Translations has developed a hybrid translation platform that utilises a combination of AI, machinelearning and a crowd-sourced pool of freelance translators. The Company’s cloud-based platform manages the end-to end translation process, leveraging AI, machine-learning (both inhouse and third party owned engines) to create a first draft translation and subsequently matching the customer’s content with one or more of the approximately 13,000 crowd-sourced human freelance translators for refinement.

This process is managed using Straker’s proprietary “RAY Translation Platform”, which has been developed over eight years and is an enterprise grade, end-to-end, cloud-based platform. By leveraging machine translations and its big data assets, the RAY Translation Platform enables the delivery of faster and more accurate translations, lowering the time and cost to deliver versus traditional translation services. The platform can be integrated directly into customers’ systems and consists of a customer dashboard, machine translation integration and modules for assisting and managing translators.

For more information visit: www.strakertranslations.com

About Apptek

AppTek provides automatic speech recognition, machine translation and natural language understanding for organisations across a breadth of worldwide markets such as media and entertainment, call centres, government, enterprise business and more. Using highly advanced artificial intelligence and machine learning

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technology, the AppTek platform delivers industry-leading, real-time streaming and batch speech technology solutions in the cloud or on-premise. Built by scientists and research engineers who are recognised among the best and most experienced in the world, AppTek’s solutions cover a wide array of languages, dialects, and channels.

For more information, please visit: www.apptek.com

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