Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-17

I read the Xero agm update, and don't want to cross promote but there is relevant views that relate to 9SP and their play in the new digital world/open banking.

"We are continuing to see a significant shift in the way business is conducted, as digitisation accelerates
across industries and small businesses adopt cloud technologies as part of their core business toolkit.
This is supported by governments enacting measures to boost digitisation as an enabler of greater
economic productivity. There are a number of examples of this including:

● The UK Government’s push, to digitise the UK tax system and digitally enable small businesses
through Making Tax Digital measures.
● The Australian Government’s Digital Economy Strategy, aimed at lifting digital capability and
adoption across the economy and supporting new ways to work and do business.
● In the US, President Biden signed an Executive Order last month that appears likely to result in
a move towards open banking, in one of our largest markets that we’re in.
● In Canada, the government has just announced last week a formal commitment and plan to
adopt open banking from January 2023.
● And in Singapore, there have also been a number of government initiatives that have sought to
drive adoption of digital technologies SMEs Go Digital program.

Xero is strongly positioned for this accelerating global trend - operating at the intersection of
technology and finance, and with the opportunity to serve the global small business community. I've
been encouraged by the Xero leadership team's continuing engagement with policymakers around the
world as we seek to play our role in enabling small businesses to be more productive, and in doing so,
making their lives better."