Appen Limited

Level 6, 9 Help Street

Chatswood NSW 2067

only

Tel: 02 9468 6300

www.appen.com

ASX ANNOUNCEMENT

24 February 2022

ANNUAL REPORT

use

Appen Limited (Appen) (ASX:APX) is pleased to release its Annual Report for the year ended 31 December 2021.

Authorised for release by the Board of Appen Limited.

Please contact for more information:

Rosalie Duff

personalFor

Investor Relations

+61 2 9468 6300

investorrelations@appen.com

www.appen.com/investors

For personal use only

Powering the

AIlife

cycle

2021 Annual Report

For personal use only

Contents

  • Mission, vision and values
    3 Our strategy
    4 Global reach
    6 2021 highlights
    8 Chairman's message

10 CEO's message

12 How we create value

14 Technology, processes, systems

About this report

This Annual Report combines our financial and non-financial performance, linking environmental, social and governance matters to our strategy and business performance.

In preparing our Annual Report, we have used the International Integrated Reporting Council (IIRC) Framework and the Sustainability Accounting Standards Board (SASB) to guide our disclosures on how Appen creates value for shareholders and which topics are most material to our business.

Underlying results are alternative measures to those recommended under International Financial Reporting Standards (IFRS) and are used by management to assess the underlying performance of the business. Underlying results have been derived from statutory measures contained in the financial statements but have not been subject to audit. A reconciliation between statutory and underlying results is detailed on page 29 of this report.

This year Appen changed its reporting currency from Australian dollars to United States (US) dollars. The change was driven by the fact that more than 90% of Appen's revenue and assets are in US dollars. Unless otherwise stated, all amounts are in United States (US) dollars.

  1. Global crowd
  1. Our people
  1. Customer and brand
  1. Financial
  1. Social and environment
  1. Identifying and managing risk
  1. Our approach to governance
  1. Board of Directors

During the year, Appen also announced a corporate restructure. Details of our five business units, our two operating and reporting segments can be found on page 51 in the Directors' report.

Forward-looking statements

This report contains forward-looking statements. These statements involve subjective judgement and analysis and are subject to significant uncertainties, risks, and contingencies, many of which are outside the control of Appen.

In particular, they speak only as of the date of this report, they are based on particular events, conditions or circumstances stated in the materials, they assume the success of Appen's business strategies, and they are subject to significant regulatory, business, competitive, currency and economic uncertainties and risks. Except as required by applicable regulations or by law, Appen does not undertake to publicly update or review any forward- looking statements, whether as a result of new information or future events. Past performance cannot be relied

on as a guide to future performance.

Material issues

A matter is considered material if senior management and the board believe

  1. Executive Team
  1. Directors' report
    54 Remuneration report
  1. Financial report
  1. Directors' declaration
  2. Independent auditor's report
  1. Additional information
  1. Corporate directory

it could significantly impact the value created and delivered in the short, medium and long term. We identify and capture material matters through stakeholder engagement and our annual risk and materiality assessment.

Operating and

Financial Review

The sections of this report from pages 8 to 45 titled the Chairman's message, CEO's message, How we create value, Identifying and managing risk and Our approach to governance comprise our Operating and financial review (OFR) and form part of the Directors' report.

Verification and assurance

The Directors' report, including information about How we create value, Identifying and managing risk and Our approach to governance is prepared by management in consultation with the board. The content in the Directors' report is guided by regulatory requirements and our interactions with investors and other stakeholders throughout the year.

The information in the Directors' report is derived from Appen's internal records and has been through our internal verification process. An independent audit of our consolidated financial accounts has been conducted by KPMG.

Appen Limited

ABN 60 138 878 298

All amounts in this report are in US dollars unless otherwise stated.

For personal use only

Appen provides data

for the AI lifecycle

1.

Data

sourcing

4.

2.

Model

Data

evaluation

preparation

by humans

1

3.

Model

training and deployment

We are the leading provider in three out of the four essential steps of the AI lifecycle, including:

1. Data sourcing, 2. Data preparation, and

4. Real-world model evaluation

Where we don't provide native experience, we integrate with clients and partner with leading model management companies

1 Includes relevance.

Appen 2021 Annual Report

1

For personal use only

2

Mission,

vision and values

At Appen, we collect and label images, text, speech, audio, video, and other data used to build and continuously improve the world's most innovative artificial intelligence systems.

Our training data gives leaders in technology, automotive, financial services, retail, healthcare, and government the confidence to deploy world-class AI products.

Our mission

Enable our customers to build better AI by creating large

volumes of high-quality unbiased training data faster

Our vision

To be the leading global provider of data for the AI lifecycle

At Appen, our team seeks to live our

values in everything we do.

Our values

Performance is having the focus and agility

Humility is being part of a team; giving credit

to achieve quality outcomes and exceed

and showing gratitude to others for their

expectations. We never stop learning, and

contributions; seeking diverse perspectives;

push and challenge ourselves every day.

and not being afraid to ask for help when

we don't know something.

Honesty is being a truth-teller in a respectful

Grit is about taking ownership; not giving

way; taking accountability for our actions;

up; and, finding the courage to succeed.

giving and receiving direct feedback; and,

Grit and resilience give us the confidence

being honest with each other, our customers,

and determination to achieve our goals.

our crowd and ourselves.

This is an excerpt of the original content. To continue reading it, access the original document here.

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Appen Ltd. published this content on 23 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 February 2022 23:00:51 UTC.