ASX letter:

Resignation of CEO and COVID-19 Update
IXUP Limited (ASX: IXU) (“IXUP” or the “Company”), the leading technology company that 
secures data analytics and collaboration by using next-generation homomorphic encryption
today provided an update on its corporate strategy, including the resignation of its CEO and 
response to the Covid-19 Pandemic.
COVID-19 Update
Given the continuing uncertainty of the duration and impact of the COVID-19 pandemic, IXUP 
has taken further steps to reduce cash outflows and extend its cash operating runway.
Further specific actions taken include:
• Staff hours and fixed remuneration further reduced with focus on retaining core sales 
and technical support functions to focus on closing commercialisation opportunities;
• Successful application for the Federal Government’s Job Keeper Wage Subsidy for all 
eligible staff with eligible roles of staff not critical in pursuing commercialisation 
opportunities reduced in hours and fixed remuneration to the amount afforded by the 
JobKeeper Wage Subsidy; and
• Reduction in costs relating to essential services and infrastructure cost.
These actions reflect the continued focus of the Board and Management on preserving cash 
and long-term shareholder value while maintaining focus on service of existing and 
prospective customers and conversion of IXUP’s sales pipeline. IXUP will continue to closely 
monitor developments related to COVID-19, and will provide further disclosures if required, in 
line with its obligations.