WHITEHAWK LIMITED — Investor Presentation 2018

May 13, 2018

==> picture [115 x 65] intentionally omitted <==

FOR IMMEDIATE RELEASE 14 May 2018

May 2018 Investor Presentation

Perth, WA and Alexandria, VA – WhiteHawk Limited (ASX:WHK) (“WhiteHawk or “the Company”), the first global online cyber security exchange enabling small-to-medium businesses to take smart action against cybercrime and fraud, announces that CEO and Chairman, Terry Roberts will be undertaking roadshow in Australia; Perth on the 14th and 15th of May, Melbourne on the 16th and 17th of May and Sydney on the 18th, 21st, 22nd and 23rd of May.

Please find the enclosed presentation materials that will be used for the roadshow.

-ENDS-

For more information:

WhiteHawk media inquiries (USA) FTI Consulting (AUS) LeighAnne Baxter Jon Snowball / Megan Moore publicrelations@whitehawk.com jon.snowball@fticonsulting.com / megan.moore@fticonsulting.com +1 833 942-9237 +61 477 946 068 / +61 434 225 643

WhiteHawk investor inquiries (AUS) Kevin Kye investors@whitehawk.com

About WhiteHawk

Launched in 2016, WhiteHawk began as a cyber security advisory service with a vision to develop the first self-service cyber security exchange simplifying how businesses discover, decide, and purchase cyber security solutions. Today, we help US and Australian companies to connect to content, solutions, and service providers through evolving our rich data and user experience.

WhiteHawk is a cloud-based cyber security exchange platform that delivers ‘solutions on demand' for small to midsize enterprises. The platform enables customers to leverage their custom Security Story to find cyber tools, content, and relevant services through our algorithms to better understand how to improve and stay ahead of threats. The Platform enables companies to fill their needs on an ongoing basis with demonstrated cost and time savings.

For more information, visit www.whitehawk.com.

Level 28 140 St George Tce Perth WA 6000 Tel : +61 8 6311 4636, Fax : +61 8 6311 4661 ABN: 97 620 459 823 www.whitehawk.com

==> picture [111 x 67] intentionally omitted <==

© 2018 WHITEHAWK, Inc. All Rights Reserved www.whitehawk.com

Disrupting the B2B Cyber Security Market Empowering a Fearless Internet

Australian Non-Deal Roadshow – May 2018

DISRUPTING THE B2B CYBERSECURITY MARKET

SAFE HARBOUR STATEMENT

This information is given in summary form and does not purport to be complete. Information in this presentation, including financial information, should not be considered as a financial projection, advice or a recommendation to any particular or potential investors in relation to subscribing for securities in WhiteHawk. Before acting on any information you should consider the appropriateness of the information having regard to these matters, any relevant offer document and in particular, you should seek independent financial advice. All securities involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments and, in international transactions, currency risk. This presentation may contain forward looking statements including statements regarding our intent, belief or current expectations with respect to our businesses and operations, market conditions, revenues, market penetration, and results of operations. Readers are cautioned not to place undue reliance on these forward looking statements. WhiteHawk does not undertake any obligation to publicly release the result of any revisions to these forward looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events. While due care has been used in the preparation of forward looking information, actual results may vary in a materially positive or negative manner. Forecasts and hypothetical examples are subject to uncertainty and contingencies outside WhiteHawk's control.. Unless otherwise specified all information is stated as at 14 May 2018

5/13/18

www.whitehawk.com

2

DISRUPTING THE B2B CYBER SECURITY MARKET

Investment Highlights

==> picture [39 x 317] intentionally omitted <==

First-of-its-kind cyber security B2B e-commerce platform addressing a gap in the market by enabling SMBs to protect themselves against cyber threats

Operating in global cyber security market, which continues to grow significantly due to increasing frequency and sophistication in cyber attacks

Initially targeting US market, estimated to be 80% of global market, valued at US$75 billion in 2015 according to Forbes

Patent-pending AI technology (“CyberPath Decision Engine”) with scalable machine learning capability

Multiple established sales channels already generating revenue, with contracted revenue currently at US$1.325 million for CY2018

Highly credentialed management team driving strategic investment in business expansion and website development talent

5/13/18

3

DISRUPTING THE B2B CYBER SECURITY MARKET

Corporate Snapshot

==> picture [59 x 59] intentionally omitted <==

==> picture [59 x 59] intentionally omitted <==

==> picture [59 x 59] intentionally omitted <==

==> picture [319 x 150] intentionally omitted <==

----- Start of picture text -----

ASX Ticker Shares on issue Last share price
WHK 69.5m [1] AU$0.09
Undiluted Market cap Net Cash Listing Date
AU$6.12m [2] ~ US$2.14m 24 Jan 2018
as of 31 March 2018
----- End of picture text -----

Top 5 Shareholders	% Shares Outstanding
Darren Carter (A)	8.71%
Teresa Roberts	8.22%
Regal Funds Management Pty Ltd (B) Vantage House Limited	5.99% 4.84%
J P Morgan Nominees Australia Limited	3.52%
Top 5 Shareholders	31.3%
Top 20 Shareholders	53.2%
Directors and Associates	11.4%

Note A - As per Substantial Holder Form lodged with ASX on 16 April 2018 Note B – As per Substantial Holder Form lodged with ASX on 16 February 2018

All figures are as of 11/05/18 unless otherwise noted 1Tradable shares: 52,165,402; Escrowed shares: 17,337,096

2 Options: 19,125,000; Performance rights: 16,000,000

5/13/18

4

DISRUPTING THE B2B CYBER SECURITY MARKET

Business Model Overview

The first online Cybersecurity Exchange empowering SMBs to stay cyber secure with affordable & impactful solutions.

WhiteHawk •Online marketplace offering a selection of 500+ Exchange products from 200+ vendors •Provides access to cyber analysts and subject matter Advisory Services experts •Subscription-based, in-depth industry specific cyber Roberts Reports security reports, to be launched in November 2018

Primary revenue streams

CyberPath Decision Engine

•Identifies cyber risks and offers a tailored selection of solutions – powered by AI technology

News & Insights

• •Stay up to date with cyber security news and insights

5/13/18

5

DISRUPTING THE B2B CYBER SECURITY MARKET

Progress Since Listing

Priority post listing	Status	Result
Grow the cyber security advisory offering and customer base		Commenced consulting contract for the Department of Homeland Security with BAE Systems with substantial pipeline of opportunities
Finalise market readiness of WhiteHawk Exchange		Released version 2.0 of the website and CyberPath Decision Engine
Establish strategic partnerships that generate revenue or drive motivated traffic to website		Launched 360 Cyber Risk Framework product and Cybercrime Support Network for SMBs
Strategic investment in top cyber talent to drive business expansion and website development		Promoted Antonio Crespo to CIO and announced three new key hires
Strengthen Intellectual Property portfolio		Filed final patent application for CyberPath Decision Engine in February 2018
Release subscription-based, in-depth industry specific cyber security reports,	In progress	Launch targeted in November 2018
Implement future enhancements to WhiteHawk Exchange	In progress	CyberPath Decision Engine version 3.0 scheduled for release in Q3/4

5/13/18

6

DISRUPTING THE B2B CYBER SECURITY MARKET

New Additional Sales Channels

To drive motivated customer site visits and increased transaction activity, WhiteHawk has developed two new sales channels through strategic partnerships:

360 Cyber Risk Framework

Cybercrime Support Network (CSN)

• Partnership with BitSight and Interos, utilising cutting edge AI tech & Open Analytics, SaaS Offerings, risk monitoring & mitigation

• Geared toward major manufacturers, Financial Institutions, federal contractors, and Fortune 1000 companies (seamless mitigation of identified cyber risks from supply chain companies, vendors and sub-contractors)

• Maiden contract secured with Top 10 US financial institution worth US$325K

• Targeting large upfront contracts (US$100K to US$300K) and a pipeline of 50 to 1,500 third party companies

• Partnership with the CSN to act as the response arm for all SMB cyber event related calls

• CSN utilises national 2-1-1 infrastructure in US to provide companies impacted by cybercrime a number to call and website for resources and to report cybercrime

• WhiteHawk cyber analysts work with victim companies to mitigate business impact and leverage the WhiteHawk Exchange to match companies with products and services for future protection

5/13/18

www.whitehawk.com

7

DISRUPTING THE B2B CYBER SECURITY MARKET

Cyber criminals are targeting SMBs daily

Ponemon Institute 2017 reported that cyber attacks cost SMBs US$2,235,000 on average

Malware Attacks:

• 58% of victims are categorized as SMB (source Verizon 2018 DBIR). 92.4% of malware is delivered by email

• Average Cost of a Data Breach 2017:

• US- $7.35 million, up 25%. Average SMB paid US$4.13 million in loss of customers due to breaches

• IBM & Ponemon Institute 81% of SMB reported some kind of cyber attack

• Internet of Things:

• Symantec witnessed a twofold increase in attempted attacks against IoT devices

5/13/18

www.whitehawk.com

8

DISRUPTING THE B2B CYBER SECURITY MARKET

Market Trends on B2B E-Commerce: Business Model & Growth

According to a Forbes article, “Forrester estimates that B2B e-commerce will top US$1.1 trillion and account for 12.1% of all B2B sales in the US by 2020.” According to a Report Buyer report, the Statista predicts that “global cyber security global technology market is projected to consulting service reach a size of market is projected to US$165.2 billion by reach up to US$53 2023.” billion by 2020.

5/13/18

www.whitehawk.com

9

DISRUPTING THE B2B CYBER SECURITY MARKET

New SMB Market Research

WhiteHawk has conducted research to gain deep insight into the SMB mindset toward cyber security and how best to grow sales channels.

After speaking with a number of NYC executives leading SMBs, learned that:

• Executives are unaware that SMBs are a target for cyber attacks;

• They won’t buy unless there is a revenue imperative or cyber event;

• SMBs want a service that allows them to research and investigate cyber security solutions but they do not know where to start;

• SMBs were surprised that there were affordable options for them; and

• Building or aligning trust in WhiteHawk brand and suite of services is key

Clear market evidence of the need for WhiteHawk as an affordable and accessible online marketplace for cyber security solutions

5/13/18

www.whitehawk.com

10

DISRUPTING THE B2B CYBER SECURITY MARKET

Demo: CyberPath Decision Engine

==> picture [629 x 332] intentionally omitted <==

5/13/18

11

DISRUPTING THE B2B CYBER SECURITY MARKET

Financial Highlights & KPIs

Contracted revenue for the year currently at US$1.32 million (~AU$1.75 million)

• Strong pipeline of opportunities across currently operating revenue streams with additional stream (subscription-based Roberts Reports) scheduled to launch in November 2018

KPI's

A.

100% increase in Share Price from .20 to .40 and achieving one of the below:

Consolidated revenues of US$2M

300 customer products 500 online contracts

Strong cash position with cash balance of US$2.139 million

• Solid position to fund operations while driving online and advisory sales and expanding pipeline

B.

200% increase in Share Price from .20 to .60 and achieving one of the below:

Consolidated revenues of US$5M

1,000 customer products

2,500 online contracts

Sales channels and marketing strategy driving increased online sales

• Each 360 Cyber Risk Framework sale drives online sales and advisory contracts to 50+ companies

• Each Cybercrime Support Network company urgent need drives tailored response and mitigation sales

C.

300% increase in Share Price from .20 to .80 and achieving one of the below:

Consolidated revenues of US$10M

2,000 customer products

5,000 online contracts

5/13/18

12

DISRUPTING THE B2B CYBER SECURITY MARKET

Outlook

• WhiteHawk Exchange market ready to support increased traffic and transaction activity

• Vendors and products on boarded

• New user interface and ease of payment protocol established

• Strong pipeline of advisory work pending with an initial US$800k in potential revenue estimated for 2018, including:

• DHS Contract for 5 years with BAE Systems in support of DHS FNR Cybersecurity Executive Level Services (late kick-off 2018) US$250K annually

• Pipeline of 2 additional US Federal Contracts

• 360 Risk Framework opportunities across public and private sector

• Maiden US$325K contract secured with remediation of 50 third party companies

• Targeting major financial institutions, manufacturers, and federal contractors high value base contract plus remediation of up to 1,500 third party companies per sale)

• CyberPath Decision Engine version 3.0 scheduled for release in Q3/4

5/13/18

13

DISRUPTING THE B2B CYBER SECURITY MARKET

The Team

==> picture [117 x 102] intentionally omitted <==

Terry Roberts, CEO, President & Founder

Previously Deputy Director of US Naval Intelligence, TASC VP for Intelligence & Cyber, Executive Director of Carnegie Mellon Software Engineering Institute. Currently US National Security Cyber Thought Leader, Board Member & Chair Emeritus, Intelligence & National Security Alliance Cyber Council

US Fed Top 50 Women & MSSI in Strategic & Artificial Intelligence. https://www.linkedin.com/in/terry-roberts-193493143/

==> picture [117 x 103] intentionally omitted <==

Luis Cruz-Rivera, CTO & Co-Founder

Former VP of Government and Industry at Resilient Corp. Technical Director & Solution Architect, TASC and ManTech. Creative, Proven & Technically Deep Engineer, Entrepreneur, & Innovator, with over 16 successful years in IT and Cybersecurity Industry. Stanford MS Computer Engineer & Georgia Tech PHD studies. http://www.linkedin.com/in/LJCruzRrivera

==> picture [117 x 119] intentionally omitted <==

Kevin Goodale, CFO

CFO at Impressions Marketing Group Inc. from 2005 – 2016.

Career Commercial Financial & Contracting Manager with over 20 years at the CFO level, using degrees in accounting & management information science to reduce risk & increase profits.

https://www.linkedin.com/in/kevin-goodale-6ba4383b/

5/13/18

www.whitehawk.com

14

DISRUPTING THE B2B CYBER SECURITY MARKET

The Team

==> picture [117 x 116] intentionally omitted <==

Antonio Crespo, CIO

Former Cybersecurity Consultant at Security Risk Advisors. Extensive Cyber Security knowledge in Engineering and Assessments for Global Fortune 500 Enterprises and expertise in optimizing cybersecurity postures. MBA with a concentration in management information systems. https://www.linkedin.com/in/tcresponj/

==> picture [118 x 108] intentionally omitted <==

==> picture [117 x 128] intentionally omitted <==

Soo Kim, Director of Product Development

Previously the cybersecurity, technology strategy expert at Accenture Federal Services. Experience in technical and business leadership, tactical execution, business operation, and solutions delivery. Bachelor’s degree in mathematics from Virginia Tech and a Certified Enterprise Architect and Scrum Master.

Sarah Messer, Chief Data Scientist

Previously a senior data scientist at Raytheon and Foreground Security and with a decade as an experimental physicist in automation operations and data collection. Bachelor’s Degrees in Computer Science, Mathematics, and Physics from American University and a Master’s Degree and Ph.D. in Physics from the University of Maryland, College Park.

5/13/18

www.whitehawk.com

15

DISRUPTING THE B2B CYBER SECURITY MARKET

The Board

Terry Roberts, Executive Chair

==> picture [117 x 113] intentionally omitted <==

Louise McElvogue, Non-Executive Director

Currently company director and advisor with strategy, commercial, and digital expertise in North America, Europe, and Asia Pacific.

Global Experience of media, digital transformation, and start-ups. Governance and strategic experience. Expert in media, journalism, and marketing.

==> picture [128 x 112] intentionally omitted <==

Tiffany O. Jones, Non-Executive Director Currently CEO Of Distill Networks

Previously VP of Global Strategic Partnerships and Alliance Operations at FireEye. & SVP of Client Solutions & Chief Revenue Officer for iSIGHT and Mandiant. Former Deputy Chief of Staff at the White House Office of Cyber Security and Critical Infrastructure Protection. Decorated US Coast Guard Officer.

==> picture [117 x 113] intentionally omitted <==

Phil George, Non Executive Director

Specialist in Information Security & Risk Management

Currently operates Nurv Cloud, a cloud telecom company, specializing in high quality, secure voice solutions.

Launched Uber Perth in Australia in 2014 as Operations Manager Non-Executive Director of Department 13 International Limited (ASX:D13)

www.whitehawk.com

5/13/18

16

==> picture [110 x 68] intentionally omitted <==

© 2018 WHITEHAWK, Inc. All Rights Reserved www.whitehawk.com