Crossword Cybersecurity : Investor Presen

Project Cornflower

Investor Presentation - July 2023

Disclaimer

•
Crossword Cybersecurity Plc (the "Company") is a company limited by shares and is offering new ordinary shares ("Relevant Securities") in the capital of the Company (the "Offer") to	persons who will be
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	("FSMA").

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Summary

Crossword is on a clear path to profitability and is fund raising a final working capital round of c£2.5m

to take Crossword to breakeven during 2024

Funding - £2.5m VCT convertible Loan Note and equity to take Crossword to cash flow breakeven and EBITDA profitability

Path to Profitability - clear focus on achieving EBITDA and cash breakeven during 2024

Trading Update - on target to achieve market expectations. Constant 'temperature checks' of the cyber market showing no indication of slow down amongst Crossword's core regulated and CNI clients

Outlook - 2024 revenue expected to exceed £8m, pivot to EBITDA and cash breakeven during 2024

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Use of Funds

• Sales and marketing £0.3m
• Product and services development and support £1.1m
• Working Capital £1.1m
• Total £2.5m

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Trading Update

2023 results expected to meet market expectations

• No indication of slowdown in cyber market amongst Crossword's core regulated and CNI clients
• H1 Update - compared to H1 prior year
• • Revenue - growth of 27%
  • ARR - growth of 35%
  • Costs - remaining static and reducing as % of revenue
  • Other - Gross Margin improvement
• Product developments - Supply Chain Cyber & Trillion
• Total focus on organic revenue growth over the next 18 months
• Increased emphasis on targeting larger clients that can make full use of Crossword's range of products and services

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