VINYL GROUP LTD — Capital/Financing Update 2019

Apr 28, 2019

ASX LIMITED

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Further information on arrangements with data partners

29 April 2019 - Jaxsta Limited ( Jaxsta or the Company , ASX: JXT) refers to the digital product agreement entered into with Universal Music Group ( Universal Agreement ) (refer to ASX Announcement ‘Jaxsta Signs Digital Product Agreement with Universal Music Group’ dated 12 March 2019) and the commercial data access agreement entered into with Warner Music Inc. ( Warner Agreement ) (refer to ASX Announcement ‘Jaxsta Signs Data Agreement with Warner Music Inc.’ dated 15 March 2019).

Further to the previous announcements, Jaxsta provides the following additional information in respect of the fees payable under the Universal Agreement and Warner Agreement:

1. Jaxsta has agreed to pay the data partners a periodic licencing fee ( Licencing Fee ) based on the gross revenue the Company receives during the preceding period which is attributable solely to Jaxsta’s commercial API platform ( Commercial API Revenue );

2. the total fees payable to all of Jaxsta’s data partners (including Universal and Warner) will be up to 55% of the Commercial API Revenue, less any applicable taxes, refunds or chargebacks;

3. other than a non-refundable, minimum Licencing Fee that Jaxsta has agreed to pay each of the data partners over the term of the agreements, the Company is only required to start to pay the Licencing Fee once the Company starts earning the Commercial API Revenue;

4. any minimum fee paid by the Company will be offset against the Commercial API Revenue based fee paid during the corresponding period; and

5. in addition to the Licencing Fee, Jaxsta is required to pay Universal and Warner market rates for accessing the data.

While Jaxsta is focused on developing its core platform, Jaxsta.com, the Company has identified a number of possible future revenue opportunities including through advertising via the website, sales of industry specific reports and possible third party affiliate sales. These revenues, together with any other future revenues earned outside Jaxsta’s commercial API platform are yet to be confirmed, forecasted and included under the Universal Agreement and Warner Agreements.

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

[7636889: 23965181_1]

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ABOUT JAXSTA:

Jaxsta is a music technology company developing an online platform to hold global official music data. Through direct industry partnerships, the company aims to credit the ‘who, what, when and where’ of music. The company’s core platform, Jaxsta.com, is expected to launch in 2019.

www.jaxsta.com

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Further Details:

Jacqui Louez Schoorl Chief Executive Officer Email: jls@jaxsta.com

WK: + 61 2 8317 1000 www.jaxsta.com

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

[7636889: 23965181_1]