Quarterly Update for the Period Ending 31 December 2020

Highlights

• Second consecutive cash flow positive quarter for the Company, with receipts from customers increasing by 160% from $881k in the September 2020 quarter to $1.467m in the December 2020 quarter, resulting in year-to-date cash receipts of $2.348m.

• Strong outlook for third quarter FY2021 with receipts from customers from 1st January 2021 to date more than $1million.

• Completed settlement of the acquisition of 100% of the shares in Betta Group of Companies Qld Pty Ltd (BGC) for $5 million in cash and equity.

• BGC $1.6 million EBITDA for 6 months to 31st December 2020 (unaudited).

• The Company’s transport division is recovering with increased receipts generated from existing customers and a positive outlook to substantially grow revenue from relationships with Savills, SGS logistics and Minset.

• Orcoda continues to provide vehicles and drivers to Transitcare, with the organisations working together to jointly grow the business

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