Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-2

KEY HIGHLIGHTS DURING THE QUARTER

• Record quarterly revenue of $965K achieved in the December quarter, representing 132.7%
growth year-on-year and 8.8% sustained growth on the September quarter.
• Initial deployment of Nodestream™ Rugged technology to the European Union Defence Force
customer has been highly successful. Following trial and feedback, HTG is in active
discussions with the counterparty to ascertain next steps for an expanded rollout of the
technology across the customer’s asset base.
• Strong opportunity pipeline and ongoing negotiations with multiple global offshore providers
gives the Company confidence of further revenue growth in the coming quarter.
• The Group continues to narrow the gap between revenue and costs. Operating cash outflow
for the quarter halved from $2.2m to $1.1m. Customer receipts in the December quarter
increased significantly from record revenue achieved in the September quarter.
• Net cash outflow for the December quarter was reduced to $714K (September Qtr: $2.3M).
Ongoing focus on cost saving initiatives across the remainder of the financial year as the
Group continues to expand and diversify its customer base.
• $1.5M cash at bank on December 31, 2022, excludes $0.5m committed placement proceeds
received from directors in January 2023 and c.$1.6m estimated proceeds of the Company’s
next R&D Claim, anticipated to be received in March 2023.