Ann: Annual Report 2020, page-2

LETTER TO SHAREHOLDERSDear Fellow Shareholder,It gives me great pleasure to present the 2020 Annual Report for AssetOwl Limited (ASX: AO1) as we reflect on a year of solid progress for the Company as a disruptor in residential property management.The past 12 months saw us achieve several significant milestones, including the launch of our inspector360 platform, and enter into important partnerships that will help us grow now and into the future.Australians, like everyone, have been severely affected by the COVID-19 pandemic. We have had to learn to work from home and conduct our daily lives without reliance on direct contact. How we live has changed suddenly and dramatically and so too has how our homes are managed. AssetOwl is well placed to help our industry and community with these new challenges by providing tools for creating and maintaining photo-centric records of properties that can be created remotely with a smart phone. We can work more flexibly and manage real estate investments more efficiently and less intrusively for the tenants.Inspector360 is a next-generation photo-centric property management platform, designed to benefit property owners, tenants, agents and managers. It incorporates 360-degree imagery, video, voice-to- text and hot-spot mapping of floor plans to accurately document property condition reports and improve inspection process efficiency.AssetOwl launched inspector360 in September 2019, building on our existing residential inspection software, InspectorAsset, which uses virtual reality technology for property inspections. The app allows property managers to “virtually” inspect a property managing the camera and app from their remote location. The inspector360 platform was trialled with several cornerstone customers including RE/MAX WA and leading property inspection service PCR & Inspection Services (PCRS) and feedback was to further enhance our offering. In recent months we have added further functions, with a virtual tour mode and video conferencing capabilities the latest add-ons which we expect to grow in popularity and acceptance due to social changes accelerated by COVID-19 restrictions.With this optimised offering, we have executed commercial licence agreements with PCRS and RE/MAX WA, which is recommending inspector360 to other RE/MAX franchisees in Australia. We also partnered with MRI Software via its Australia subsidiary Rockend Technology, which developed the Property Tree software used by more than 3,500 real estate agency customers across Australia and NZ. MRI showcased inspector360 to more than 650 property industry professionals during a virtual conference in July 2020.inspector360 also integrated into PropertyMe, one of Australia’s largest and most complete cloud property management software providers, used by 2,500 agencies and customers in Australia.We have initially provided full inspector360 functionality for WA-based real estate agents, and will soon be rolled out to other States.We commenced trials with several other existing partners including Colliers International WA, The Agency Group Australia and Attree Real Estate, as well as four independent agencies. ASSETOWL LIMITED ANNUAL REPORT 2020 PAGE 4LETTER TO SHAREHOLDERSIn May 2020, we completed a $1.5 million capital raising, comprising a $600,000 Placement and ~$900,000 Entitlement Offer, to scale deployment of inspector360 over the coming year. We thank shareholders for their support in these activities and their continued belief that AssetOwl is on track to become a disruptor in real estate property management. We are encouraged by the improvement we’ve seen in AssetOwl’s share price in recent months, and hope this momentum will continue into FY21 as brand awareness and adoption of our technology continue to grow.I would also like to thank our staff and management for their efforts over the past year that has helped us achieve such important milestones in AssetOwl’s history. We are a small team that understands the importance of working together to achieve a common goal and I believe we are beginning to see rewards for hard work over the past few years.AssetOwl has an exciting future ahead as we aim to grow the customer base of inspector360 in Australia and other parts of the world. I look forward to keeping you updated on our progress.Simon TrevisanNon-Executive Chairman