All resolutions passed in the formal business of the...

All resolutions passed in the formal business of the meeting.
Peter Torrie will be retiring as a Director. Greg Ross re-elected, Robert Downey re-elected, Simon Scalzo re-elected.

Key Quotes During the CEO Presentation:

• "User base very happy with the product"
• "We are on track in executing against the multi-year plan" (was said with respect to the AGM timeline slide)
• "Timing of our original plan has not changed"
• "FY20 was a record year in all respects, taking this into account, the quality of the FY21 result in comparison was pleasing as we have also increased R&D expenditure which factors into the bottom line result"
• "A flywheel is emerging -- Increased gross profit will be invested into further growth opportunities"
• "Gross profit is arguably at all-time highs depending on how you account for one-off services revenue"
• "Resolution to the semiconductor chip shortage not expected before the end of FY22"
• "Team growth is strong: 2/3 of CXZ's overall team has joined in the past 18 months"
• "FY22 investment expected to increase meaningfully compared to FY21 -- but don't expect to be in negative cashflow over a 12 month period -- however this might occur over the occasional quarterly (but not materially)"

Q/A Section:

• Thank you, everyone. Firstly to shareholders we appreciate your ongoing support. We are absolutely committed to growing this business into a meaningful software company so we really appreciate your support as we progress along that journey. Secondly, I'd like to thank our fellow directors for your ongoing guidance and support as we progress along the journey and last but not least the broader connection team.

• Q1: Question received before the meeting. My investment of $3,000 seems to never receive a return. Could you please advise of a strategy to begin to return my investment as opposed to increasing remuneration payments? Answer from the board: I suspect your presentation that you just delivered deals with that question, which we received prior to the meeting.
• Q2 The second question was received during the meeting. "A strategic agreement was released recently with ASX listed, IFM (Infomedia). It appears to be particularly mutually beneficial for cross-sell opportunities. Could you elaborate on this please and the possibilities that it opens up?" Answer from AN: Certainly, thanks for the excellent question. We announced yesterday evening through a website press release that we'd secured a Strategic Alliance with a company called Infomedia. Infomedia is also listed on the ASX. The ticker is IFM. The press release was not put out to the ASX because it's not market-sensitive. It is a strategic agreement, that is in its early days. Infomedia by way of background operates service line management software. So there are a relatively mature yet growing business and they have around 220,000 users across 186 countries. They're particularly strong in the US outside of General Motors where we are obviously strong within General Motors. There is some complementarity therefore in terms of our customer base. So, we both feel that there's opportunity for us to improve, their product by way of integration with our software, and vice versa. There's not too much else I can elaborate on at this point, because we're in the early stages of the relationship. Again, it is not a market-sensitive announcement and it certainly is a very high-quality partner to have. And it's one that does have prevalence across most of the OEMs that we're targeting in the US, they do also have a significant field team that may present the potential for helping us to deliver our software into our manufacturers, should we be approved to do so. But again, it's early days.
• Q3 "Underlying business progress is very strong despite tailwinds such as the semiconductor chip shortage. But, despite these tailwinds, the share price remains undervalued and under the radar, what is the company doing to get institutional funds interested in CXZ?" Answer from AN: Thanks, good. question. There's a bit of a lag but I got the gist of it. So in terms of the register, we do have an improving register. So again, we've focused on the quality of the register. So if we look at the concentration of ' holdings the top 20 shareholders have increased their ownership by 45% in the past 12 months, that's from 221 million shares to 321 million shares. The top 20s is increasingly populated by genuine long-term investors. These are people with genuine holding periods that are multi-year so that's very important to us. In terms of institutional investment, that's something that we believe really requires branching outside of General Motors to get that box ticked too. There are a number of small-cap funds that are waiting on the sidelines, we believe. We've had very positive conversations with a few of them. The recurring topic that's brought up is expansion outside of GM because at the moment, there is a concentration risk, which is, you know, sort of undeniable. So I wouldn't expect any material institutional investment until that's addressed. There's not much we can say on this at the moment, due to the binary nature of new contracts.
• Q4: "The market is aware that the Hyundai contract was due to come up for renewal with a competitor in October. Could you elaborate on whether CXZ investigated this opportunity and any insights into the discussions that took place and/or, feedback that was provided on your product offering in relation to Hyundai?" Answer from AN: That's unfortunately, not something that we're able to comment on. When we're looking at the manufacturer market, there are only a small number of manufacturers that don't have a courtesy transportation program. Some of them are already signed up under Exclusives mandates and that effectively locks them out of the market. GM is obviously one of them in an exclusive mandate. So that really leaves a very small number of OEMs for us to go after and through the binary nature of the outcome of either winning one or not, that's unfortunately, not something that we can discuss publicly before an announcement is made.