Ann: Quarterly Activities Report and Appendix 4C, page-5

A couple things stood out to me from the 4c.

1. China
The significant opportunities being presented by large state-run infrastructure projects require a strong
balance sheet. The Group continues to work on strategies to meet this challenge, and in addition is continuing
engagement with large corporates.

^Sounds like they are having trouble landing large state-run infrastructure projects.

2. Japan
The deployment of customer-funded VSN-secured ImageDeep thermal COVID-19 tracking proof-of-concepts,
in Japan, is generating interest from retailers and local Government. Preliminary discussions are underway
regarding deploying the solution in two Japanese cities. Recurring revenue is growing in Japan.

^VSN-secured ImageDeep thermal Covid-19 tracking proof-of-concept? Is this something new? Along with that, "Recurring revenue is growing in Japan" - that's a good sign.