Ann: Corporate Presentation - ASX Small & Mid-Cap Conference, page-91

So as to avoid any future disappointment, the reference to $500 m was not ACV. Ian indicated this as an estimate of the TAM (Total Addressable Market). Worth remembering when he talks Market or ACV numbers he is talking in USD.

He has for some time now been talking an ACV goal of USD 50 m. He repeated this number in the latest podcast, but suggested that as a mid-term goal and then added ...."then USD100m". In support of this he spoke of the 6 verticals Pointerra are targeting [ Survey & Mapping ; AEC ; Utilities ; Transport ; Mining Oil & Gas ; Defence & Intelligence ]. He indicated each have a TAM exceeding USD 50 m. So implies a market share AS TARGET of approx 15 % across North America and Aus/ NZ prospects.

His mention of a 1 Bn market Cap (ASX listed so AUD) points to a share price of AUD 1.48, this provided any capital requirements are debt funded opposed to via a Capital Raise.

Pointed to headcount doubling in 12 to 18 months and context on targets 2024 / 2025. All fits with previous comments on the Company becoming highly profitable, where USD 50 m ACV mentioned and indication that Expenses unlikely to surpass AUD 15 m.

Finally, his discussion on their moat ( Business Model + Technology ) plus customer acknowledgements is like Gold at this stage in their journey.

So an exciting next 2.5 years awaits.

Rokewa.