VINYL GROUP LTD — AGM Information 2019

Nov 24, 2019

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ASX ANNOUNCEMENT

Chairman’s Address to Annual General Meeting

Sydney, Australia, 25 November 2019: Music technology company Jaxsta ( ASX:JXT ) (‘ Jaxsta ’ or ‘ the Company ’), attaches a copy of the Chairman’s Address to be delivered at Jaxsta’s Annual General Meeting being held today.

-ENDS-

ABOUT JAXSTA:

Jaxsta ( ASX: JXT ) is a music technology company with an online platform holding global official music data. Through direct industry partnerships, the Company credits the ‘who, what, when and where’ of music.

The Company’s core platform, Jaxsta.com, is live. The beta version of Jaxsta Pro, the Company’s B2B subscription-based service, officially launched in November 2019 and includes features only available to paid users.

AUTHORISATION & ADDITIONAL JAXSTA INVESTOR RELATIONS: INFORMATION: Arthur Chan

Arthur Chan WE Communications E: jaxstainvestors@jaxsta.com P: +61 2 9237 2805

This announcement was authorised by the Company Secretary of Jaxsta Limited

www.jaxsta.com Level 1, 113-115 Oxford Street Darlinghurst 2010 NSW Australia

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Jaxsta Annual General Meeting FY2019 – Chairman’s Address

To be delivered by Brett Cottle AM at the AGM scheduled for 10:00AM on Monday 25 November 2019

Welcome to the 2019 Annual General Meeting for Jaxsta.

On behalf of the Board, it is a pleasure to have you today at our inaugural Annual General Meeting as a listed company and to share with you the strong progress and achievements Jaxsta has made in 2019.

Jaxsta’s vision as a company has always been to transform the music industry by telling the story behind the music and giving credit where credit is due for millions of artists, songwriters, producers and music makers.

In less than a year, we have delivered against the vision outlined in our Prospectus. In June we launched the beta version of our core product – Jaxsta.com – and last Friday we launched of the beta version of our first business-to-business subscription service, Jaxsta Pro.

These achievements are both major milestones for the company.

Jaxsta.com is the world’s first public-facing database of official music credits. It now has over 100 million credits across 30 million web pages, reflecting the music credits of more than 19 million recordings.

The launch of Jaxsta Pro[Beta] is also significant as it represents the delivery of our first revenue-generating product to market. We anticipate receiving the company’s first revenues from Jaxsta Pro from early adopters this year. More significant revenues are expected in the first half of next year from wider adoption as market awareness of the product increases in line with the marketing and publicity campaigns also launched last Friday. To have this product in the market is a testament to the leadership of CEO and Co-Founder Jacqui Louez Schoorl and the wider team’s tireless efforts and dedication.

In the lead up to the beta launch of both Jaxsta.com and Jaxsta Pro, we secured a number of major data partnerships, including with Universal Music Group and Warner Music Group. These two organisations, together with our pre-existing data partner - Sony, represent the biggest record labels in the world. In that period, we have also added the Music and Entertainment Rights Licensing Independent Network (Merlin), the global rights agency for the world’s independent label sector, and APRA (the Australasian Performing Rights Association) as data partners and we now licence and use their data on Jaxsta.

Jaxsta® Level 1, 113-115 Oxford Street, DARLINGHURST, NSW, 2010 , AUSTRALIA Ph: +61 2 8317 1000 Jaxsta.com

ABN 29 605 344 054

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As of today, Jaxsta holds 31 data licensing agreements which cover approximately 90 percent of the popular music industry[1] . To have secured such strong coverage of the music sector is a significant achievement.

Jaxsta is first and foremost a music company underpinned by a strong technology platform and key data supply agreements with our data partners. Our relationships with these data partners are paramount to Jaxsta’s success and through their equity holdings, we mutually ensure alignment to deliver on our near and long-term vision for Jaxsta. We are grateful for their contribution and for the strong support shown by our shareholders. In particular, we extend our thanks to those shareholders who participated in our capital raising earlier in the year.

With the beta versions of Jaxsta.com and Jaxsta Pro both live, we are excited for the year ahead. The 2020 financial year is expected to be a transformative year for Jaxsta - not only do we expect to see our first significant revenue from Jaxsta Pro, we also expect to launch our commercial API offering.

As many of you would have seen, Jaxsta recently activated a bespoke API which served customised music data for The Recording Academy’s ‘ Behind The Record ’ campaign. This global campaign was a major initiative to raise awareness of behindthe-scenes music collaborators, whether they be a producer, engineer, songwriter or composer. It also publicly demonstrated how Jaxsta is able to effectively deploy a customised API and deliver a big data solution to a major client. We look forward to updating shareholders on the future opportunities for this product offering.

On behalf of the Board, we thank CEO and Co-Founder Jacqui Louez Schoorl and the entire Jaxsta team for their hard work and dedication. I would also like to thank my fellow Board members for their contribution throughout the year and our shareholders for their support.

Having achieved significant operational milestones in 2019, we enter the new financial year with strong momentum. In 2020, we look forward to reporting on our commercial progress as we work toward expanding our revenue generating products.

I will now move on to the formal parts of this general meeting. Following the closure of the meeting, Jaxsta’s Chief Executive Office and Co-Founder Jacqui Louez Schoorl will deliver a brief presentation.

Thank you.

1 As calculated according to the distributor’s estimated individual market share by number of streams as quoted to Jaxsta by our data partners.

Jaxsta®

Level 1, 113-115 Oxford Street, DARLINGHURST, NSW, 2010 , AUSTRALIA

Ph: +61 2 8317 1000 Jaxsta.com ABN 29 605 344 054