RightCrowd : Annual General Meeting Presentation and Address

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RIGHTCROWD LIMITED - ANNUAL GENERAL MEETING PRESENTATIONS

Wednesday, 17 November 2021: In accordance with the ASX Listing Rules, the Chairman's address and the presentation by the Chief Executive Office and Chief Financial Officer to the Annual General Meeting ("AGM") is appended.

This announcement has been approved for release by the Board of Directors.

- END -

For further information please contact:

Kim Clark

Company Secretary

RightCrowd Ltd ABN: 20108841127 Address: Suite 501, Level 5, 203 Robina Town Centre Dr, Robina 4230

Phone: [phone] Fax: [phone] Email: [e-mail]

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Chairman's Address

Today I will briefly comment on RightCrowd's goals for FY21 and how we performed against those goals. I will also refer to the goals we set at the time of our capital raise in March 2021. James Stewart will give an overview of the Company as it is today and reconfirm its strategy for FY22 & FY23. Peter Hill will then speak to the market trends and year to date performance of our suite of software solutions and provide you with the FY22 outlook for our key financial metrics.

At last year's AGM we forecast that targeted marketing spend, combined with an upscaling of our sales channel program and continued investment in R&D would deliver a doubling of Annualised Recurring Revenue, or ARR, to $8m and an increase in sales revenue of 40%.

I am happy to report that the rapid acceleration of companies looking to proactively manage safety of their workforce and strong customer retention resulted in ARR increasing 103% to $8.1m and our growth in active customers hit 101.2%

Notwithstanding the adverse impact of ongoing COVID related travel restrictions on the ability to achieve project milestones and therefore consulting revenue, overall sales revenue increased a credible 32% to $15.2m. Total revenue including sales revenue, COVID support payments and R&D grants totaled $19.4m.

Cost increases excluding cost of goods sold were restricted to a 0.5% increase, resulting in a 31% reduction in the net loss for the year to $4.7m.

In March 2021 RightCrowd successfully completed a capital raise of a net $11.9m. Cash at Bank as at 30 June 2021 stood at $9.9m.

Following the capital raise, RightCrowd listed on the US OTCQB exchange to enable potential US investors to more easily buy shares in the Company.

At the time of the capital raise we said we would use the funds to position RightCrowd to achieve profitability by the end of FY23 through:

• Investment in leveraging global channel partnerships;
• Boosting our presence in the US (our largest market) to support existing and future customers; and
• Extending our Presence Control and Access Analytics solutions to meet the needs of the growing safety and cyber security markets.

Both James and Peter will provide commentary on our progress towards these goals.

In closing, I would like to acknowledge the ongoing support we receive from our RightCrowd team, our shareholders and stakeholders, our customers and our partners.

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Chief Executive Officer and Chief Financial Officer Address

Chief Financial Officer

I would like to provide you with a company overview and strategy, and then give an update on progress we have made against our strategic objectives.

Our Company continues to grow as we support our customers to run safe, secure and compliant workplaces for their people.

We are located in 4 countries with a growing workforce of 159 people, supporting a broad spectrum of customers which include 9 of the Global Top 100 customers.

Our market capitalisation is around AUD $70m and our revenue has been growing strongly since listing on the ASX in 2017.

I would like to touch upon the company strategy that RightCrowd announced as it raised capital in March 2021.

The strategy was built on 4 key pillars being:

• Leveraging global partnerships
• Boosting presence in the US Market
• Market leading innovation, and
• P&L profitability.

With the strategy set, and additional investments being made, RightCrowd has made good progress over the last 6 months as illustrated on the next slide - strategy timeline.

The strategy timeline shows the activities completed and those that RightCrowd is targeting to achieve by the end of FY22. Strategic tasks completed include:

• Capital raise to fund growth
• Appointment of David Oller to lead sales
• Appointment of Viriathus Capital in the US to assist with investor relations
• Restructure of Offsite Vision
• Registration on the OTCQB exchange
• Launch of Access Analytics

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• Reporting of strong FY21 results to the market
• Appointment of Bryan Jones as CTO, and
• Appointment of Brian McIlravey as COO

The Company is now fully focused on executing on pipeline growth with the first Access Analytics sales in Q2, and extension of existing customer implementations and adding new partner agreements as market conditions continue to improve in 2022.

I am very pleased with the progress being made and the clear path that RightCrowd has set by which to achieve its strategic goals.

With that I would like to handover to Peter to give some insight into the FY22 Outlook.

Chief Executive Officer

I'd like to start by providing a brief overview of RightCrowd's product suite. The primary driving force behind RightCrowd for many years has been our enterprise software solution in the workforce management space. This solution is able to intelligently manage the complex safety, security and compliance issues within large corporations by deeply integrating into the world's leading physical access control solutions. RightCrowd successfully launched it's second product over the last year into the new Presence Control Market. This is a rapidly emerging market with RightCrowd selling over 27,000 electronic badge holders in the last financial year as organisations responded to the challenges of COVID in the workplace. To complement these growing revenue streams, RightCrowd is now starting the commercialisation of its latest security innovation, which is a product called RightCrowd Access Analytics. This product will extend RightCrowd's market reach and provides customers with proactive visibility of their physical access security risks.

I will now drill down into each of these products and provide some commentary on what we're seeing in the market, how we have been trading year-to-date and the assumptions we are planning around for the remainder of FY22.

Starting with our enterprise workforce management solution, we are seeing in the market that COVID has dramatically changed the workplace rulebook with the rise of home based and hybrid work arrangements redefining physical access security requirements. This rise in complexity is accelerating the adoption of information security standards which drive robust physical identity and access management programs to secure facilities, assets and data. We are also seeing rising access control switching costs due to material scarcity and delays which are driving innovative end of life upgrade pathways encompassing RightCrowd workforce management solutions. All these trends generate strong medium to long term tailwinds for RightCrowd.

In the short term, our primary market in the United States has been a little slower than we anticipated due to the continued delay of the full return to the workplace. Existing client activities have been robust, with no churn to-date in this financial year. We are also seeing a strong buildup within our

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sales pipeline with large opportunities being added in the financial services, technology, defence, logistics, energy and utilities markets.

We have four assumptions that contribute to our FY22 outlook for our workforce management segment. We expect market tailwinds will continue to build with corporations investing in the safe return of their employees and that RightCrowd will secure several major new enterprise workforce management customers in the second half of FY22. Our partnership strategy will grow our indirect sales and there will be a continuing easing of travel restrictions to ensure we can complete project implementations as expected.

We have seen very strong trends over the last year for the new presence control market. This is a product that accelerated from a standing start to just under $5m of revenue in FY21 as a result of selling into enterprise customers seeking to maintain operational continuity and manage COVID related risks.

Year to date performance has been strong with Q1 revenue of $1.4m which included selling a further 7,000 badge holders, split evenly between existing clients and new client orders. There has been limited customer churn with the vast majority of enterprise customers acquired in FY20 choosing to renew annual subscriptions. We have sufficient components to assemble 50,000 badge holders and also have access to the critical components for a further 50,000 badge holders beyond this when required.

The outlook for Presence Control is based on three assumptions. Firstly, that demand for presence control continues despite some easing of COVID regulations and that businesses continue to strive to operate in challenging conditions. Secondly, existing customers continue to extend the presence control solution across their global operations resulting in low customer churn and thirdly, we also start to see the successful adoption of new functional use cases for the solution covering evacuation management, employee questionnaires, visitor management and security-based presence control.

RightCrowd Access Analytics is a product that we have been developing in the background for the last four years and has been based on our first hand experiences in large enterprise customers gained over the last 17 years. This product is fast to deploy, provides almost instant business value to the customer and compliments our larger, more powerful Workforce Management platform.

The market trends for access analytics are accelerating as we see the rise of hybrid work arrangements. This is forcing companies to scrutinize who has access to their facilities and re- baseline their access security and compliance.

We are currently focusing on developing our sales pipeline with new go-to-market activities now underway. These sales efforts and channel development have resulted in a solid pipeline build in addition to cross-sell opportunities to existing customers.

The three assumptions we make for access analytics for the remainder of FY22 are that we expect our first international access analytics sales during this quarter which we expect to result in positive reference sites, we will train our partner channels enabling us to accelerate the sales pipeline and we

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