Ann: Quarterly Update and Appendix 4C, page-7

The Inflection Point
DroneShield’s Chairman Peter James commented, “Our board and advisors have substantial experiencewith companies in cutting edge industries that had not existed until a relatively short time period prior to thestart of such companies’ businesses. I have seen this time and again in my career – at iiNet, nearmap andothers – tilling the new emerging field takes time, but once a company has established itself as a leader ina new space, and once customers start adopting its products and services, the potential for a take-off ingrowth is very substantial. The DroneShield team is proud to be starting to hit that inflection point.”