DUG Technology Ltd. provided this update regarding the ongoing restructure of its Services business line. The objectives of the restructure are to reduce the level of fixed costs and to enhance operational efficiency. It will also serve to position Services for any improvement in new business activity in the oil and gas industry moving forward. With a challenging, COVID-19- affected year now in the past, and with the oil price now at a seven-year high, the Company expects this business line to regain momentum. Restructuring has focussed on four initiatives relating to office space, personnel, projects, and geographical business units: Right-sizing office space is expected to provide annualised savings of approximately USD 0.55 million, to be realised in the second half of the 2022 calendar year. With respect to personnel, once-off redundancy costs will be approximately USD 0.85 million with expected annualised cost savings of approximately USD 4.1 million. Considered selection of projects to maximise profit in line with capacity. Cessation of third-party R&D projects. Creation of geographical business units from DUG's major service centres, each responsible for its own financial performance. This initiative will include profit-sharing incentives and salary deferment will be utilised to preserve cash holdings. The centres have welcomed the increased autonomy. In a unified front key members of the Company's executive and board will also be part of this initiative. This includes DUG's managing director, Matt Lamont, and chief operating officer, who will each be deferring 20% of their salary. The managing director's salary will be reduced from AUD 42,864 per month to AUD 34,684 per month inclusive of superannuation (effective 1 December 2021). The majority of the board's non-executive directors will also be voluntarily deferring 20% of their fees. As already disclosed in the 2021 annual report the chairman's fee has been reduced from AUD 180 thousand to AUD 120,000 per annum (effective 1 September 2021). While not expected to be a long term measure, salary/fee deferment could realise savings of approximately USD 0.225 million per month. While the result of these initiatives is a reduction in fixed costs, DUG believes these changes will also serve to preserve cash reserves, position the business line for future opportunities and maximise profit-making ability. Personnel reduction has been focussed on support staff where continual improvements in software efficiency and functionality have now enabled more streamlined workflows. Careful analysis of projects with respect to profitability criteria will also assist moving forward. For example larger, more compute-intensive projects will be favoured over smaller yet more complex projects.