Ann: IBM/Health & Wellness 360 Announcement, page-12

Ask Louis on the call tomorrow.

This from RAAS just now. LT holders knew this already, I guess that's why it's not a Price Sensitive release

• Total Brain’s platform is a core part of IBM’s platform which is targeting the support of large populations in transition.

• The initial rollout of IBM’s application is for 25,000 users, which represents $0.6m in annual recurring revenue to Total Brain.

• Success should see the programme rolled out to the entire benefit-eligible population of 18m overseen by US veterans plus additional features and services which will translate into additional ARR for TTB.

The IBM affinity partnership underpins $0.23/share in our $0.88/share valuation against a reference price of $0.29/share.