Kyckr : Chairman's Address, CEO Update and Presentation to Sharehold

For personal use only

ASX Release

15 November 2021

Ms Ramona Seeto

Adviser, Listings Compliance

ASX Market Announcements Office

Australian Securities Exchanged Limited

20 Bridge Street

Sydney NSW 2000

Dear Ramona,

Kyckr Limited 2021 Annual General Meeting

Kyckr Limited (ASX: KYK) (Kyckr) advises that its Annual General Meeting (AGM or Meeting) will be held today, 15 November 2021, at 9:00 am (AEDT).

Please find attached:

1. Chairman's Address;
2. CEO Update; and
3. Accompanying presentation slides

Shareholders can participate in the Meeting via the Lumi platform through the following URL: https://web.lumiagm.com/393-725-761.

Participating in the Meeting virtually will enable shareholders to view the Meeting live, ask questions and cast votes in the real time poll during the Meeting. Shareholders will be able to log in to the online platform from 8:00 am (AEDT).

More information about using the online platform (including how to vote and ask questions online during the AGM) is available in the Online Meeting User Guide

available on Kyckr's website at https://www.kyckr.com/about/investors.

The Directors of Kyckr encourages shareholders to participate in the AGM via the online platform.

This announcement is made with the Authority of the Kyckr Board of Directors.

Yours Sincerely,

Glenn Day

Company Secretary

Kyckr Limited

Level 12, 680 George Street, Sydney NSW 2000 | ABN 38 609 323 257

www.kyckr.com

For personal use only

Chairman's Address (slide 7)

Good morning everyone and welcome to the Annual General Meeting of Kyckr. My name is Rajarshi Ray and I am delighted to speak to you as Chairman of the company.

Before I begin, I would like to acknowledge the traditional owners and custodians of the lands on which we meet today - including the Wodi Wodi of the Dharawal and the Gadigal of the Eroa Nation.

Our business transformation and progress has been outlined in detail in our Quarterlies and Annual Report throughout this financial year via our market announcements. Accordingly, as discussed earlier, I plan to keep my comments brief to allow maximum time for questions.

FY21 Performance

The last year marked a significant milestone in the transformation of Kyckr from a transactional, document-based business to a SaaS like data business.

Clearly, the COVID pandemic continued to present a challenging (and often recurring) set of circumstances during the year. Notwithstanding, the consolidated entity started to see the first positive financial and operational outcomes progressively throughout the financial year. In fact, we were pleased to report to shareholders three consecutive quarterly record results - albeit from a small base.

For shareholders, your current Board acknowledges that this progress has been a long time coming. However, as Ian our CEO will outline in more detail, we now have momentum across all the key pillars of our business, all the while significantly increasing investment in our solution sets to take advantage of the market opportunity. Key metrics for FY21 included:

• revenues to $2.7m (up 13% YOY) despite the substantial COVID impact
• increases in key metrics of enterprise contracts with an Annual Recurring Revenue ('ARR') value of $1.5m (up 300% YOY)
• significant progress in securing new ARR Enterprise (4) and Partner (5) clients
• an increase in expenses to $5.5m (up 12%) as we ramped up spend in technology to $1.7m (up 41%).

Board Restructure & Working Capital

This year, we bid farewell to Benny Higgins and Jacqueline Kilgour, both Non- Executive Directors. Instrumental in initiating the first steps of the Kyckr transformation journey, they remain committed shareholders. Management and the Board sincerely thank them for their contributions.

Kyckr Limited

Level 12, 680 George Street, Sydney NSW 2000 | ABN 38 609 323 257

www.kyckr.com

For personal use only

We also welcomed George Venardos, the former CFO of the Insurance Australia Group Limited ('IAG') and Chair of numerous ASX listed companies, whose deep experience will support the acceleration of the Kyckr business.

A little later today, George and I are offering ourselves for election, along with our colleague Karina Kwan, who retires by rotation provisions.

Karina has been a Non-Executive Director of Kyckr since 2018. Her experience in financial services as well as an advisory board member of several fintechs are highly valued by Kyckr as we navigate the Reg Tech market opportunity.

All our credentials are provided in the Annual Report and Notice of Meeting, and I will also ask the Director's to make a brief statement prior to the resolution relating to their election.

As part of the business transformation, your Board has also focused on increasing the level of transparency and communication to investors and would-be investors alike. The first tangible results of this was to reduce the size of the Board; cut in Board Fees to a nominal $1 (until 1 January 2022); increase the tempo of Board engagement and communication to investors and an increased the levels of support to the Executive Management team in strategy delivery.

The Company also recently raised capital of $7.75m (before costs) from placements to institutional, professional and sophisticated investors, as well as a share purchase plan that was eight times oversubscribed. Following the capital raise, the Board considers the Kyckr business to have sufficient funding and direction to deliver on our core opportunity and invest in selected opportunities for the benefit of our shareholders and customers alike.

FY22 Outlook

The potential for Kyckr, as always, is significant. Our product set has only scratched the surface of the Know Your Customer (KYC) market opportunity, while our capabilities lend themselves easily to new use cases and product offerings in adjacent markets. Our CEO, Ian Henderson, will provide more details on this shortly.

It is also appropriate that the Board acknowledges your long term support as shareholders. It has been a long journey, and we trust that recent results indicate to you the positive future prospects of the business.

On behalf of the Board, I would like to thank our CEO, Ian Henderson, and the whole team at Kyckr. The Executive and staff are deeply committed to the business, and by in large, act as owners rather than just employees. In a competitive employment landscape, not only did they accept little or no pay rises, pivoted to working from home for large parts of the year and many became shareholders in a personal capacity. Your investment could not be in safer or more committed hands.

Thank you again for your support, and I will now hand over to Ian.

Kyckr Limited

Level 12, 680 George Street, Sydney NSW 2000 | ABN 38 609 323 257

www.kyckr.com

For personal use only

CEO Update (slide 8)

Good morning.

I would like to give a short strategic update covering the progress we have made in the last year.

Our Proposition (slide 9)

As you are aware, Kyckr's core capability has been built around its global network of corporate registry connections. Through this network, Kyckr is able to give its clients and partners access to up-to-date company information from legally authoritative sources. This is a core requirement in the fulfilment of Know Your Business/Know Your Customer obligations.

Anti-Money Laundering was Kyckr's original go-to-market Use Case and remains central to what we do. But as we have enriched this data we have been able to extend the addressable market to cover areas such as e-commerce, investment management and supply chain management. The key deliverable here is up to date company information - but for entity validation purposes, rather than know your customer. The most exciting aspect of this extension is it moves Kyckr beyond the world of regulated financial services, with its extended sales cycles.

Where we are going: the new Kyckr (slide 10)

In 2020 Kyckr changed strategic direction. Previously, Kyckr's data-oriented value proposition was simple - the provision of corporate registry documents for a mark-up via a simple web portal, typically on a pay-as-you-go basis.

Last year we pivoted to a B2B Business Information SaaS model. The plan was to move away from pay-as-you-go to Annual Recurring Revenue, with its reduced volatility and revenue certainty. The first part of the plan has been delivered - the establishment of the infrastructure and value proposition to enable this - fit for purpose API capability with additional product functionality and a new pricing model.

In addition, the sales approach has been re-oriented towards our established and prospective partner pool, which gives us access to a broader potential client base.

FY22 Q1 Update (slide 11)

We are seeing the strategy starting to pay off - revenue and ARR were up strongly on prior year. It is pleasing to see new client wins being complemented by existing customers doing more business with us and on a pre-pay basis. 100% client retention in a crowded and competitive market is a testament to Kyckr's value.

The clear delineation by business line is now well established with the data team focusing on additional data sources to build out and strengthen our business information credentials and the ongoing data enrichment work to enable us to pass on productivity benefits to our clients.

Kyckr Limited

Level 12, 680 George Street, Sydney NSW 2000 | ABN 38 609 323 257

www.kyckr.com

For personal use only

The software and automation team is focusing on the development and delivery of our UBO Verify service beyond the current MVP, for which we are seeing significant client and prospect interest. Ultimate Beneficial Ownership discovery is the hottest regulatory topic in the world of AML. The new Kyckr Enterprise Portal development is now nearing completion with a phased roll out anticipated from early next year.

I was delighted to welcome Glenn Day as CFO/CoSec and Richard Barber as global head of sales. This has significantly enhanced the Kyckr management team and positions us well as we move into calendar 2022.

Finally, I would like to add my thanks to our shareholders for your ongoing support. 2022 is going to be an exciting year for Kyckr.

I will now hand back to our Chair for the formal business of the meeting.

- End.

Kyckr Limited

Level 12, 680 George Street, Sydney NSW 2000 | ABN 38 609 323 257

www.kyckr.com