Ann: Fully Underwritten $40M Placement & Non-Underwritten SPP, page-75

Panoramic is pleased to announce that the following Directors of the Company have subscribed for New
Shares under Tranche 2 of the Placement (subject to shareholder approval under ASX Listing Rule 10.11,
to be sought at the EGM): Independent Non-Executive Chairman Mr Nicholas Cernotta (or an associated
entity) for a total of A$50,000; Managing Director & CEO Mr Victor Rajasooriar (or an associated entity) for
a total of A$75,000; and Non-Executive Director Ms Gillian Swaby (or an associated entity) for a total of
A$25,000. The participating Directors will also be entitled to apply for Options under the Placement (see
below).