Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-22

I am pleased to report continued strong growth in AirPlus facilities, both with new and existing clients. As of June 30, 2024, we have reached a total approved limit of $6.5 million with an additional $2.6 million in the application phase. This has resulted in over $200,000 in revenue for Q4 FY24, demonstrating significant growth from the previous quarter.

We anticipate further growth in Spenda AP adoption and AirPlus facilities for FY25. With these positive developments and other components coming into play, we expect the next quarter to mark a significant turning point.

Our stable payment B2B volume on Spenda's platform remains strong at approximately $20 million per month following the roll-out of Spenda AR to Carpet Court Head Office. We are also seeing continued progress in B2C payments as we approach the planned SOE roll-out in the September quarter.

Furthermore, I am pleased to announce the successful completion of the 2nd performance milestone for Capricorn DSD project. The commercial launch of our new payment infrastructure for Capricorn is on track for 1H FY25, with over half of the initial development fees already received.

In Q4, we have continued scaling all product lines including Spenda AR, Spenda AP, Payment Widget along with corresponding Saas Software Licensing fees. We anticipate further growth across all channels for FY25.

The increased efficiency in onboarding will coincide perfectly with our plans to start rolling out Capricorn's offerings on a larger scale.