Frugl Group Limited updated the market and shareholders on the progress and user growth of Version 3.0 of the Frugl Grocery App on Apple and Android platforms. Version 3.0 of the Frugl Grocery app has experienced record user growth following its release commencing in December 2021. The refreshed user interface, addition of more retailers and substantial performance improvements have underpinned stronger user take up and retention of the Company's leading grocery comparison app. The unprecedented growth in Frugl Grocery app users has been supported by increasing press activity and the acknowledgement of Frugl's role as an independent source of grocery insight and research.

The substantial media activity across television, radio and online is helping to further establish the Frugl brand amongst shoppers, retail businesses, research organizations and journalists and plays an important role in the company's future growth. Continued user growth alongside new app functionality including the upcoming transactional capabilities will set the foundations for commercialisation of the Frugl Grocery app beyond the current retail analytics revenue stream. A substantial volume of user behaviour data has been collated since the Version 3.0 launch and will underpin future revenue streams including advertising, customer research and shopper panel activation.

The Company is continuing to drive current revenue growth across new and existing business customers, whilst engaging in new business development discussions with retailers, consultants, suppliers and government agencies.