Ann: Quarterly Activities Report and Appendix 4C, page-2

a decent update

* Updater reports Q4 2017 cash receipts of US$1.69m, materially higher than Q3 2017 cash receipts of US$0.40m; •
* Strong revenue growth is expected to continue throughout CY2018 with Updater forecasting revenue growth in the range of 8-10 times its unaudited CY2017 revenue of US$2.37m;
* Cash ~A$63.63m as at 31 December 2017.
* On Track for 35% Market Penetration.
* Achieved 99%+ retention rates for each quarter in 2017, reflecting the tremendous value that the Updater platform delivers to its Real Estate partners
2018 key performance metrics to be achieved by year-end 2018:
* The Company will actively sell Business Products in five (5) verticals. •
* In the Insurance Vertical, the Company will secure 15 Paid Programs running on the Updater platform. •
* In the Full-Service Moving Vertical, the Company will secure 150 Paid Programs running on the Updater platform. •
* In the Pay TV/Internet Vertical, the Company will secure 10 Paid Programs running on the Updater platform.