Ann: September 2019 Quarterly Activities Update, page-2

Revenue on the way up.

Normalised cash receipts of $1.05m (prior quarter $1.18m) and in line with forecasts – full impact of
migration from one US partner now fully absorbed – Q4 cash receipts will increase.

• Annualised Recurring Revenue (ARR*) at $4.46m, up 15% on prior quarter ARR of $3.88m, well on
track to deliver $4.8m-$5m ARR by end December 2019.

• Revenue from Email Backup and Archiving now makes up 63% of total revenue – up from 58% in prior
quarter.

• Number of paid users up 6% quarter-on-quarter to 266,000 and APRU up 8% to $1.40

"As anticipated Annualised Recurring Revenue (ARR*) is now resuming its upward trajectory and increased
15% quarter-on-quarter to $4.46m (prior quarter: $3.88m). This is being driven by revenue from existing
email backup and archiving partners. Dropsuite’s backup and archiving product is enjoying very good takeup, now making up 63% of total revenue (up by 5% quarter on quarter from 58%)."