VINYL GROUP LTD — Annual Report 2022

Aug 30, 2022

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ASX ANNOUNCEMENT

Jaxsta Preliminary Final Report

Sydney, Australia, 31 August 2022 : Jaxsta Limited ACN 106 513 580 (Jaxsta or the Company, ASX: JXT) the world’s largest public-facing, dedicated database of official music credits, is pleased to release its preliminary final report and appendix 4E for the year ending 30 June 2022.

The financial year ended 30 June 2022 was focused on advancing commercial efforts, which, for the purpose of this preliminary report are summarised as follows:

JAXSTA SUBSCRIPTIONS

• The relaunch of Jaxsta Pro paid tiers in August 2021;

• the subsequent release of key features such as the One Sheet, shareable plaques;

• the introduction of advertising on site;

• the release of the Business and Enterprise tiers in June 2022; and

• the addition of partners as SoundCloud (REPOST) and DistroKid to our data sets.

As at 30 June 2022, we have 1,040 Creator members which contributed $20,455 in amortised subscription revenues during the year ended 2022. The Group also had various data solution deals which added $84,047 in revenue for the year ended 30 June 2022.

A key undertaking during the year was the Songtradr transaction which included adding to the Company’s cash reserves, but also included a cost savings plan and a strategic realignment aimed at accelerating the Company’s consumer focused strategic initiatives.

The Company will be providing an investor update on the annual results and state of business following the upcoming release of the Annual Report to the market. Registration details to be made available on the Jaxsta website prior to the event.

Jaxsta Ltd. Level 1, 113-115 Oxford Street, DARLINGHURST, NSW, 2010 , AUSTRALIA Ph: +61 2 8317 1000 Jaxsta.com ABN 15 106 513 580

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ABOUT JAXSTA

Jaxsta is the world's only official music credits database. It contains more than 230 million official, deep-linked music credits across 65 million pages, sourced from 292 data partners, including record labels, publishers and industry associations. Jaxsta's data is mapped to the world's charts and can provide world-first insights including custom repertoire reports to ensure industry organizations can map music ownership and revenue. Jaxsta is a key solution to the music industry's metadata problem.

Authorisation & Additional Information:

This announcement was authorised by the Board of Directors of Jaxsta Limited

Jaxsta Investor Relations:

E: jaxstainvestors@jaxsta.com P: +61 2 8097 1201

Level 1, 113-115 Oxford Street, Darlinghurst 2010 NSW Australia

-Ends-

Jaxsta Ltd.

Level 1, 113-115 Oxford Street, DARLINGHURST, NSW, 2010 , AUSTRALIA Ph: +61 2 8317 1000 Jaxsta.com ABN 15 106 513 580

Jaxsta Ltd Appendix 4E Preliminary final report

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1. Company details

Name of entity: Jaxsta Ltd ABN: 15 106 513 580 Reporting period: For the year ended 30 June 2022 Previous period: For the year ended 30 June 2021

2. Results for announcement to the market

				$
Revenues from ordinary activities	up	2068.1%	to	104,935
Other income and interest revenue	down	(9.0%)	to	1,498,406
Loss from ordinary activities after tax attributable to the owners of Jaxsta
Ltd	up	8.6%	to	(6,200,747)
Loss for the year attributable to the owners of Jaxsta Ltd	up	8.6%	to	(6,200,747)

Dividends

There were no dividends paid, recommended or declared during the current financial period.

Comments

The loss for the Group after providing for income tax amounted to $6,200,747 (30 June 2021: $5,709,673).

Refer to Market announcement, which precedes the Appendix 4E, for further commentary on the results for the year ended 30 June 2022.

3. Net tangible assets

Net tangible assets per ordinary security	Reporting period Cents 0.12	Previous period Cents 0.60

Net tangible assets per ordinary security has been calculated by including the net right-of-use assets of $3,054 (2021: $17,613).

4. Control gained over entities

Not applicable.

5. Loss of control over entities

Not applicable.

Jaxsta Ltd Appendix 4E Preliminary final report

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6. Dividends

Current period

There were no dividends paid, recommended or declared during the current financial period.

Previous period

There were no dividends paid, recommended or declared during the previous financial period.

7. Dividend reinvestment plans

Not applicable.

8. Details of associates and joint venture entities

Not applicable.

9. Foreign entities

Details of origin of accounting standards used in compiling the report:

Not applicable.

10. Audit qualification or review

Details of audit/review dispute or qualification (if any):

The financial statements are in the process of being audited and an unqualified opinion is expected to be issued. The auditor's report will contain a paragraph addressing material uncertainty related to going concern.

11. Attachments

Details of attachments (if any):

The Preliminary Financial Report of Jaxsta Ltd for the year ended 30 June 2022 is attached.

12. Approved

Signed _________

Date: 31 August 2022

Linda Jenkinson Chair Sydney

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Jaxsta Ltd

ABN 15 106 513 580

Unaudited Preliminary Financial Report - 30 June 2022

Jaxsta Ltd Contents 30 June 2022

2 3 4 5 6

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Statement of profit or loss and other comprehensive income Statement of financial position Statement of changes in equity Statement of cash flows Notes to the financial statements

1

Jaxsta Ltd Statement of profit or loss and other comprehensive income For the year ended 30 June 2022

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Note Revenue 3 Other income 4 Interest income calculated using the effective interest method Expenses Raw materials and consumables used Employee benefits expense 5 Product development expense 5 Depreciation and amortisation expense 5 Impairment of intangibles 5,9 Professional fees Marketing expense Occupancy expense Other expenses 5 Finance costs 5 Loss before income tax expense Income tax expense Loss after income tax expense for the year attributable to the owners of Jaxsta Ltd Other comprehensive income Items that may be reclassified subsequently to profit or loss Loss on the revaluation of financial liabilities at fair value through other comprehensive income, net of tax Other comprehensive income for the year, net of tax Total comprehensive income for the year attributable to the owners of Jaxsta Ltd Basic earnings per share 13 Diluted earnings per share 13	Consolidated 2022 2021 $ $ 104,935 4,840 1,498,132 1,371,154 274 1,309 (1,180) (7) (4,191,061) (3,388,838) (1,523,893) (1,601,881) (239,468) (169,693) - (16,251) (364,019) (446,372) (750,483) (569,113) (18,442) (94,440) (681,885) (683,365) (33,657) (117,016) (6,200,747) (5,709,673) - - (6,200,747) (5,709,673) 1,992,102 - 1,992,102 - (4,208,645) (5,709,673) Cents Cents (1.87) (2.18) (1.87) (2.18)
	(6,200,747) -
	(6,200,747) 1,992,102
	1,992,102
	(4,208,645)
	Cents (1.87) (1.87)

The above statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes

2

Jaxsta Ltd Statement of financial position As at 30 June 2022

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Note Assets Current assets Cash and cash equivalents Trade and other receivables 6 Other assets Total current assets Non-current assets Property, plant and equipment 7 Right-of-use assets 8 Intangibles 9 Total non-current assets Total assets Liabilities Current liabilities Trade and other payables 10 Contract liabilities Borrowings 11 Lease liabilities Employee benefits Lease make good provision Total current liabilities Non-current liabilities Contract liabilities Borrowings 11 Lease liabilities Derivative financial instruments Employee benefits Total non-current liabilities Total liabilities Net assets Equity Issued capital 12 Reserves Accumulated losses Total equity	Consolidated 2022 2021 $ $ 3,123,935 3,461,427 1,113,693 876,611 30,610 146,020 4,268,238 4,484,058 41,230 51,503 83,261 230,653 187,158 245,241 311,649 527,397 4,579,887 5,011,455 872,348 520,341 1,199 25,000 33,915 26,778 86,315 70,209 254,156 176,136 24,814 24,462 1,272,747 842,926 498,801 475,000 846,483 1,448,638 - 142,831 1,316,538 - 51,036 37,876 2,712,858 2,104,345 3,985,605 2,947,271 594,282 2,064,184 38,620,271 36,454,852 4,806,801 2,241,375 (42,832,790) (36,632,043) 594,282 2,064,184
	4,268,238
	41,230 83,261 187,158
	311,649
	4,579,887
	872,348 1,199 33,915 86,315 254,156 24,814
	1,272,747
	498,801 846,483 - 1,316,538 51,036
	2,712,858
	3,985,605
	594,282
	38,620,271 4,806,801 (42,832,790)
	594,282

The above statement of financial position should be read in conjunction with the accompanying notes

3

Jaxsta Ltd Statement of changes in equity For the year ended 30 June 2022

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Consolidated Balance at 1 July 2020 Loss after income tax expense for the year Other comprehensive income for the year, net of tax Total comprehensive income for the year Transactions with owners in their capacity as owners: Contributions of equity, net of transaction costs (note 12) Share-based payments Convertible note issuance equity component (note 12) Balance at 30 June 2021 Consolidated Balance at 1 July 2021 Loss after income tax expense for the year Other comprehensive income for the year, net of tax Total comprehensive income for the year Transactions with owners in their capacity as owners: Contributions of equity, net of transaction costs (note 12) Share-based payments Balance at 30 June 2022	Issued capital $ 32,792,654 - -	Reserves $ 1,460,473 - -	Retained profits $ (30,922,370) (5,709,673) -	Total equity $ 3,330,757 (5,709,673) - (5,709,673) 3,604,448 780,902 57,750 2,064,184 Total equity $ 2,064,184 (6,200,747) 1,992,102 (4,208,645) 2,165,419 573,324 594,282
	- 3,604,448 - 57,750	- - 780,902 -	(5,709,673) - - -
	36,454,852	2,241,375	(36,632,043)
	Issued capital $ 36,454,852 - -	Reserves $ 2,241,375 - 1,992,102	Retained profits $ (36,632,043) (6,200,747) -
	- 2,165,419 -	1,992,102 - 573,324	(6,200,747) - -
	38,620,271	4,806,801	(42,832,790)

The above statement of changes in equity should be read in conjunction with the accompanying notes

4

Jaxsta Ltd Statement of cash flows For the year ended 30 June 2022

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Note Cash flows from operating activities Receipts from customers (inclusive of GST) Receipts from grants - research and development (inclusive of GST) Payments to suppliers and employees (inclusive of GST) Receipts from grants - export development (inclusive of GST) Government grants received - COVID-19 support Interest received Interest and other finance costs paid Net cash used in operating activities Cash flows from investing activities Payments for property, plant and equipment 7 Payments for intangibles 9 Proceeds from disposal of property, plant and equipment Net cash used in investing activities Cash flows from financing activities Proceeds from issue of shares 12 Share issue transaction costs Proceeds from borrowings Repayment of borrowings Repayment of lease liabilities Net cash from financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the financial year Cash and cash equivalents at the end of the financial year	Consolidated 2022 2021 $ $ 101,296 20 809,265 1,108,176 (6,371,181) (5,055,737) 100,000 - - 488,800 (5,360,620) (3,458,741) 274 1,309 (147,997) (117,016) (5,508,343) (3,574,448) (16,936) (25,930) (10,383) (24,960) - 482 (27,319) (50,408) 2,500,060 4,086,775 (170,500) (424,577) 3,000,000 1,420,000 - (334,593) (131,390) (66,170) 5,198,170 4,681,435 (337,492) 1,056,579 3,461,427 2,404,848 3,123,935 3,461,427
	(5,360,620) 274 (147,997)
	(5,508,343)
	(16,936) (10,383) -
	(27,319)
	2,500,060 (170,500) 3,000,000 - (131,390)
	5,198,170
	(337,492) 3,461,427
	3,123,935

The above statement of cash flows should be read in conjunction with the accompanying notes

5

Jaxsta Ltd Notes to the financial statements 30 June 2022

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Note 1. General information

The financial statements cover Jaxsta Ltd as a Group consisting of Jaxsta Ltd and the entities it controlled at the end of, or during, the year. The financial statements are presented in Australian dollars, which is Jaxsta Ltd's functional and presentation currency.

Jaxsta Ltd is a listed public company limited by shares, incorporated and domiciled in Australia. Its registered office and principal place of business is:

Level 1 / 113-115 Oxford Street Darlinghurst, NSW 2010

Note 2. Operating segments

Identification of reportable operating segments

Operating segments are presented using the 'management approach', where the information presented is on the same basis as the internal reports provided to the Chief Operating Decision Makers ('CODM'). The CODM is responsible for the allocation of resources to operating segments and assessing their performance.

Management identifies one operating segment based on the Group’s service lines, therefore the operating segment information is as disclosed throughout these financial statements.

The Group’s segment operating loss reconciles to the Group’s loss before tax as presented in its financial statements.

The information reported to the CODM is on a monthly basis.

Major customers

There are 4 major customers (2021: none) that account for more than 75.6% of the Group's revenue. The total amount of revenues from these customers was $33,286, $22,361, $13,202 and $10,447.

Geographical information

Australia Americas Europe, Middle East and Africa Asia Pacific	Sales to external customers Geographical non-current assets 2022 2021 2022 2021 $ $ $ $ 37,021 4,840 311,649 527,397 62,709 - - - 4,261 - - - 944 - - -	Sales to external customers Geographical non-current assets 2022 2021 2022 2021 $ $ $ $ 37,021 4,840 311,649 527,397 62,709 - - - 4,261 - - - 944 - - -	Sales to external customers Geographical non-current assets 2022 2021 2022 2021 $ $ $ $ 37,021 4,840 311,649 527,397 62,709 - - - 4,261 - - - 944 - - -	Sales to external customers Geographical non-current assets 2022 2021 2022 2021 $ $ $ $ 37,021 4,840 311,649 527,397 62,709 - - - 4,261 - - - 944 - - -
	104,935	4,840	311,649	527,397

The geographical non-current assets above are exclusive of, where applicable, financial instruments, deferred tax assets, post-employment benefits assets and rights under insurance contracts.

Note 3. Revenue

Subscription revenue is recognised on a pro rata basis as subscriptions or licenses may cover multiple accounting periods, commencing on the date the subscription is made available to customers. Any set up services relating to our APIs or Data Solutions are recognised when performed. All subscriptions are for one to twelve month terms and include an auto-renewal clause, although customers can cancel the subscriptions prior to the end.

Revenue from contracts with customers	Consolidated 2022 2021 $ $ 104,935 4,840

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Jaxsta Ltd Notes to the financial statements 30 June 2022

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Note 3. Revenue (continued)

Disaggregation of revenue

The disaggregation of revenue from contracts with customers is as follows:

Major product lines Subscription revenue API revenue Other Timing of revenue recognition Goods transferred at a point in time Services transferred over time	Consolidated 2022 2021 $ $ 20,455 - 84,047 4,840 433 -	Consolidated 2022 2021 $ $ 20,455 - 84,047 4,840 433 -
	104,935	4,840
	84,480 20,455	4,840 -
	104,935	4,840

The disaggregation of revenue by geographical regions is presented in note 2 'Operating segments'.

Note 4. Other income

Net foreign exchange (loss)/gain Net fair value gain on financial liabilities Government grants - COVID-19 support * Export market development grant Research and development tax incentive Other income Other income	Consolidated 2022 2021 $ $ (7,805) 9,919 366,150 - - 514,800 100,000 - 1,039,787 842,435 - 4,000	Consolidated 2022 2021 $ $ (7,805) 9,919 366,150 - - 514,800 100,000 - 1,039,787 842,435 - 4,000
	1,498,132	1,371,154

• During the previous financial year the Group received payments from the Australian Government amounting to $67,500 and $447,300 as part of its ‘Boosting Cash Flow for Employers’ and 'JobKeeper' schemes, respectively, in response to the Coronavirus (‘COVID-19’) pandemic. These non-tax amounts were recognised as government grants and recognised as income once there was reasonable assurance that the Group complied with any conditions attached.

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Jaxsta Ltd Notes to the financial statements 30 June 2022

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Note 5. Expenses

Loss before income tax includes the following specific expenses: Cost of sales Cost of sales Depreciation Computer equipment Office equipment Buildings right-of-use assets Total depreciation Amortisation Platform development Trademarks Total amortisation Total depreciation and amortisation Impairment Trademarks (note 9) Employee benefits expense Salary and wages Share-based payments expense Defined contribution superannuation expense Total employee benefits expense Product development expense Product development cash expenses Product development equity-based payments Total product development expense Other expenses including the following material expenses: Board fees Insurance Audit fees Filing fees Other Other expenses Finance costs Interest and finance charges paid/payable on borrowings Interest and finance charges paid/payable on lease liabilities Amortisation of loss on recognition of financial liability cost Finance costs expensed	Consolidated 2022 2021 $ $ 1,180 7	Consolidated 2022 2021 $ $ 1,180 7
	21,042 6,167 143,793	14,235 6,781 48,675
	171,002	69,691
	56,707 11,759	59,660 40,342
	68,466	100,002
	239,468	169,693
	-	16,251
	3,468,837 431,378 290,846	2,815,098 325,765 247,975
	4,191,061	3,388,838
	1,503,841 20,052	1,329,580 272,301
	1,523,893	1,601,881
	249,900 131,787 108,030 84,341 107,827	220,085 105,546 114,383 123,627 119,724
	681,885	683,365
	14,983 13,311 5,363	103,229 13,787 -
	33,657	117,016

8

Jaxsta Ltd Notes to the financial statements 30 June 2022

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Note 6. Trade and other receivables

Current assets Trade receivables Research and development incentive receivable Other receivables GST receivable	Consolidated 2022 2021 $ $ 25,625 6,573 1,039,784 842,432 1,995 1,995 46,289 25,611	Consolidated 2022 2021 $ $ 25,625 6,573 1,039,784 842,432 1,995 1,995 46,289 25,611
	1,113,693	876,611

Note 7. Property, plant and equipment

Non-current assets Computer equipment - at cost Less: Accumulated depreciation Office equipment - at cost Less: Accumulated depreciation	Consolidated 2022 2021 $ $ 142,899 131,260 (118,217) (97,175)	Consolidated 2022 2021 $ $ 142,899 131,260 (118,217) (97,175)
	24,682	34,085
	51,020 (34,472)	45,723 (28,305)
	16,548	17,418
	41,230	51,503

Reconciliations

Reconciliations of the written down values at the beginning and end of the current and previous financial year are set out below:

Consolidated Balance at 1 July 2020 Additions Disposals Write off of assets Depreciation expense Balance at 30 June 2021 Additions Depreciation expense Balance at 30 June 2022	Computer equipment $ 27,029 21,382 (91) - (14,235)	Office equipment $ 20,851 4,547 (391) (808) (6,781)	Total $ 47,880 25,929 (482) (808) (21,016)
	34,085 11,639 (21,042)	17,418 5,297 (6,167)	51,503 16,936 (27,209)
	24,682	16,548	41,230

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Jaxsta Ltd Notes to the financial statements 30 June 2022

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Note 8. Right-of-use assets

Non-current assets Buildings - right-of-use Less: Accumulated depreciation	Consolidated 2022 2021 $ $ 303,554 303,554 (220,293) (72,901) 83,261 230,653
	83,261

The Group leases buildings for its offices under agreements of between 2 to 3 years with, in some cases, options to extend. The leases have various escalation clauses. On renewal, the terms of the leases are renegotiated.

Reconciliations

Reconciliations of the written down values at the beginning and end of the current and previous financial year are set out below:

Consolidated Balance at 1 July 2020 Additions Depreciation expense Balance at 30 June 2021 Lease modification Depreciation expense Balance at 30 June 2022	Buildings $ - 279,328 (48,675) 230,653 (3,599) (143,793) 83,261

For other lease disclosures, refer to:

• note 5 for depreciation on right-of-use assets;

• note 5 for interest on lease liabilities;

• statement of cash flows for repayment of lease liabilities.

Note 9. Intangibles

Non-current assets Platform development - at cost Less: Accumulated amortisation Trademarks - at cost Less: Accumulated amortisation Less: Impairment	Consolidated 2022 2021 $ $ 178,963 178,963 (178,963) (122,256) - 56,707 255,510 245,127 (52,101) (40,342) (16,251) (16,251) 187,158 188,534 187,158 245,241
	-
	255,510 (52,101) (16,251)
	187,158
	187,158

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Jaxsta Ltd Notes to the financial statements 30 June 2022

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Note 9. Intangibles (continued)

Reconciliations

Reconciliations of the written down values at the beginning and end of the current and previous financial year are set out below:

Consolidated Balance at 1 July 2020 Additions Impairment of assets Amortisation expense Balance at 30 June 2021 Additions Amortisation expense Balance at 30 June 2022 Note 10. Trade and other payables Current liabilities Trade payables Other payables Note 11. Borrowings Current liabilities Insurance financing Non-current liabilities Convertible notes payable	Platform development $ 116,367 - - (59,660)	Trademarks $ 220,167 24,960 (16,251) (40,342)
	56,707 - (56,707)	188,534 10,383 (11,759)
	-	187,158
		846,483

Insurance financing

Insurance funding is a ten months short term loan with a fixed interest rate of 5.19% (2021: 5.49%).

Convertible notes payable

On 10 September 2020, the Company entered into a convertible note agreement with Songtradr Inc. for a principal value of $1,420,000. Conversion would result in the issue of 40,571,429 fully paid ordinary Jaxsta shares at a price of $0.035 per share for the principal value of the note. The conversion is at the right of the noteholder, except if:

• the Company registers a full year net profit of $5,000,000 at which time 100% of the note is converted automatically; or

• ● the Company registers a full year net profit of $2,500,000 at which time 50% of the note is converted automatically.

11

Jaxsta Ltd Notes to the financial statements 30 June 2022

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Note 11. Borrowings (continued)

On 24 June 2022, the shareholders authorised the Company to enter into an additional tranche of the prior convertible note agreement with Songtradr Inc. for a principal value of $3,000,000. Conversion would result in the issue of 142,857,143 fully paid ordinary Jaxsta shares at a price of $0.021 per share for the principal value of the note. All the conditions of the original convertible note remain and in addition the Company agreed to appoint two directors proposed by Songtradr and enter into a cost reduction and growth plan agreed to by Songtradr. The Company completed those requirements by the completion of the shareholder approval. Additionally, as a consequence of the variation of the note, the original note of $1,420,000 would change the conversion price from $0.035 to $0.021, resulting in the potential issue of a further 27,047,619 ordinary shares.

The noteholder at their option can convert or seek repayment of the note at the expiration of the term of the note. The note has an anti-dilution clause that adjust the conversion price if certain circumstances occur before the final redemption date. The note has a term of up to 3 years and carries a coupon rate of 7.5% which will be accrued and paid at the end of the term or capitalised and converted at the time of conversion or repayment. The note is secured by a first ranking security over the assets of the Company and its subsidiaries.

The second tranche also includes a separate option to invest a further $3,000,000 under an option agreement with an exercise price of $0.021 per share. The option has a life of three years and can only be exercised if Tranche #2 is partially or fully converted and up to the amount of Tranche 2 converted into shares.

The note is considered a compound financial instrument together with their embedded derivatives financial instrument and equity component has been estimated for the conversion into ordinary shares (refer note 12).

Note 12. Issued capital

Ordinary shares - fully paid Equity component of convertible notes	2022 Shares 342,578,199 -	Consolidated 2021 2022 Shares $ 300,910,430 38,620,271 - -	Consolidated 2021 2022 Shares $ 300,910,430 38,620,271 - -	2021 $ 36,397,102 57,750
	342,578,199	300,910,430	38,620,271	36,454,852

Movements in ordinary share capital

Details Date Balance 1 July 2020 Shares issued on capital raising 24 March 2021 Shares issued on capital raising 24 March 2021 Shares issue transaction costs Balance 30 June 2021 Shares issued on capital raising 28 September 2021 Shares issued on capital raising 28 September 2021 Transaction costs Balance 30 June 2022	Shares Issue price 247,190,330 53,720,000 $0.075 100 $0.250 - $0.000 300,910,430 41,667,669 $0.060 100 $0.250 - $0.000 342,578,199	$ 32,792,654 4,029,000 25 (424,577)
		36,397,102 2,500,060 25 (276,916)
		38,620,271

Ordinary shares

Ordinary shares entitle the holder to participate in dividends and any proceeds attributable to shareholders should the Company be wound up, in proportions that consider both the number of shares held and the extent to which those shares are paid up. The fully paid ordinary shares have no par value and the Company does not have a limited amount of authorised capital.

On a show of hands every member present at a meeting in person or by proxy shall have one vote and upon a poll each share shall have one vote.

12

Jaxsta Ltd Notes to the financial statements 30 June 2022

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Note 13. Earnings per share

Loss after income tax attributable to the owners of Jaxsta Ltd Weighted average number of ordinary shares used in calculating basic earnings per share Weighted average number of ordinary shares used in calculating diluted earnings per share Basic earnings per share Diluted earnings per share	Consolidated 2022 2021 $ $ (6,200,747) (5,709,673)	Consolidated 2022 2021 $ $ (6,200,747) (5,709,673)
	Number 332,418,113	Number 261,760,987
	332,418,113	261,760,987
	Cents (1.87) (1.87)	Cents (2.18) (2.18)

51,502,223 options over ordinary shares are not included in the calculation of diluted earnings per share because they are anti-dilutive. These options could potentially dilute basic earnings per share in the future.

13