Ann: Letter to Shareholders & Notice of Annual General Meeting, page-157

I will be voting no for resolutions 1-4 as a protest on treatment of shareholders in past 12 months. I do not seek to influence other shareholders but I have included reasons below that form the basis of decision on each resolution.

RESOLUTION 1 – ADOPTION OF REMUNERATION REPORT

• 4DS is a technology company. Changes made to Chief Technology Officers contract from 1st October 2020 were not provided to shareholders until annual report some 10 months later. A reason for the change still has not been provided.
• After 5 years shareholders should have clarity on equity award that Dave will receive. Incentives can only be effective if it is clear in advance - this should not be a secret..

RESOLUTION 2 – ELECTION OF DIRECTOR – DRS. WILLIBRORDUS GERARDUS MARIA
VAN DEN HOEK

• Drs Van received the highest remuneration in 4DS 20/21 - $1,085,507
• Shareholders have received only minimal communication from the Chairman via limited quotes in announcements.
• Only rationale board has provided for resolution that is updated since appointment is that he has time to do the job & had performance reviewed. Not a very compelling case at all.

RESOLUTION 3 – RE-ELECTION OF DIRECTOR – MR DAVID MCAULIFFE

• Dave is the only Australian based executive & is primarily responsible for poor communication with shareholders.
• Dave sold shares again after committing not to at last AGM. This commitment was not acknowledged when second sale occurred. ie he didnt say sorry.

RESOLUTION 4 – APPROVAL OF 7.1A MANDATE

• 4DS board has the thinnest veneer of "independence" with Howard the only independent director.
• This resolution is effectively allows selling of 25% of company without shareholder approval. The only rationale provided is to expand or accelerate existing business activities.
• A 25% holding would effectively control company given dispersed holdings.

I acknowledge none of this will change the world - pissing in the wind. However, voting at AGM is one of the few tools shareholders can use to openly communicate their views to board.

DYOR Not financial advice