Ann: HTG Secures Initial Order with Five-Eye Defence Customer, page-20

Hey Seaforth,

Yes, I refrained from saying we had heard a lot of it before. I think it was framed differently. They laid out the three-phase plan and in very trying circumstances have executed on it as they said they would.

Agree about The General. I didn't gloss over his positive outlook, but for the same reasons I can hear the criticism from certain quarters. I don't agree with that criticism and have voiced my opinion. It's clear they've been under the pump and have been marked down, but they're not alone in that. A man of Jeff Sengelman's calibre wouldn't stick around to see it through if he didn't believe the mission was achievable. It's not a stretch to think he had a significant role in securing Five Eyes as a customer.

The fact of keeping their powder dry resonated. I think it stands true for the likes of Cisco Webex and Inmarsat. I believe Paul was referencing this when he talked about some of the organisations they are dealing with having to change their entire way of operating to accomodate Harvest Nodestream. Being in the cloud is that key that will unlock these doors. This was clearly evidenced with the recently expanded partnership with AST upgrading from a regional Australian deal to a full global partnership. They have seen the technology, they like what they see, it works the way it is supposed to work, now they are moving forward. The same applies to AST CEO Andrew Peters as it does to our Chairman when he says, “I am delighted to have seen first-hand how our partnership has developed since 2020."

A three-year regional collaboration would not develop into a global partnership if there wasn't any meat on the bones. Andrew Peters would not waste his time. So, more validation of Harvest the company, its people and the technology.

Despite the eviscerated SP, I've been holding back hoping to see evidence of a turnaround. We got that yesterday in spades. Consequently, was in the market yesterday and will be again as the story continues to unfold.