Ann: Half Year Results Commentary, page-9

Correct. Revenues cut off for this half yearly report was 31-Dec 21.

Management again highlighted significant increased in revenues second half 2022.

I’m expecting from 1-Jan to 31- Mar 22 is the first qtr of significant increased in revenues of 2022 that Jat management keeps pointing out. Anything less than $15M for this qtr I’ll be very disappointed.

Looking at accumulation last month by Director Brett and this month by Golden Bricks, Wilton to get 15M units and Brett to get 5M units when revenues hit $80M. I’m confident we won’t be disappointed imo.

JAT half yearly at 31-Dec 2021 is $16M, MC $36M and Bub was $38M, MC $270M. Jat is so undervalued imo.

Here is Jats directors views from report how we will achieve significant increased in revenues this year.
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The directors expect an increase in revenue in the second half of FY22 to be driven by:

• Firm orders received by ANMA from third-party customers have increased by 100% for March 2022 with continuing orders for April and onwards.

- Increased production of JAT in-house products has also been ordered to meet the demand from customers. As a result, the ANMA factory has started to operate two shifts a day, six days a week.

• The final sample test for co-branding products for Saputo (see ASX announcement 27 January 2022) has been completed and Saputo have advised that the first batch of the co-branding products will released in Australia and US markets in April 2022.

- This represents a major milestone with JAT products being marketed in the US for the first time.

• The development of JAT’s plant-based meats has led to the development of plant- based snacks products. JAT is working to obtain China regulatory approval for the sale of the products and it is expected that the products will be ready for sale on in Australia, China and other countries from April 2022.

Other financial highlights expected in FY 22 include:

• Having concluded the development phase of a number of products, the gross margin on manufactured products by both ANMA and plant-based products manufactured in China should increase;

• Financing costs should reduce as a result of equity funds being raised utilised in the repayment of high interest-bearing debt; and

• Impairment of goodwill during the half year ended 31 December 2021 of $1,487,770 is unlikely to recur as a result of expected increase in revenue in JAT’s subsidiary, Sunnya.