I Global : 31 December 2021 Annual Report to Shareholders

I-Global Holdings Limited

ABN 28 611 470 010

Financial Statements

For the Year Ended 31 December 2021

I-Global Holdings Limited

ABN 28 611 470 010

Contents

For the Year Ended 31 December 2021

Page

Financial Statements

Corporate Governance Statement 1

Directors' Report 2

Auditor's Independence Declaration under Section 307C of the Corporations Act 2001 13

Statement of Profit or Loss and Other Comprehensive Income 14

Statement of Financial Position 15

Statement of Changes in Equity 16

Statement of Cash Flows 17

Notes to the Financial Statements 18

Directors' Declaration 45

Independent Audit Report 46

Additional Information for Listed Public Companies 49

I-Global Holdings Limited

Corporate Governance Statement

For the Year Ended 31 December 2021

The Board is committed to achieving and demonstrating the highest standards of corporate governance. The Board continues to refine and improve the governance framework and practices in place to ensure they meet the interests of shareholders. Although the Company is not listed on the Australian Securities Exchange (ASX), the Board has taken the view that the Company should, to the extent possible, comply with the Corporate Governance Principles and Recommendations published by the ASX Corporate Governance Council (ASX Principles).

This Corporate Governance Statement discloses the extent to which the Company follows the recommendations of the ASX Corporate Governance Council's Corporate Governance Principles and Recommendations 4th Edition. The Recommendations are not mandatory, however the Recommendations that will not be followed have been identified and reasons provided for not following them along with what (if any) alternative governance practices the Company intends to adopt in lieu of the recommendation. The Company has adopted a Corporate Governance Plan which provides the written terms of reference for the Company's corporate governance duties.

Due to the current size and nature of the existing Board of Directors of the Company (Board) and the magnitude of the Company's operations, the Board does not consider that the Company will gain any benefit from individual Board committees and believe that the Company's resources would be better utilised in other areas as at this stage the experience and skill set of the current Board is sufficient to perform these roles. Under the Company's Board Charter, the duties that would ordinarily be assigned to individual committees are currently carried out by the full Board under the written terms of reference for those committees. The Company's Corporate Governance Plan is available on the Company's website athttp://www.iglobalholdings.com/.

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I-Global Holdings Limited

ABN 28 611 470 010

Directors' Report

For the Year Ended 31 December 2021

The directors submit the financial report of I-Global Holdings Limited ("the Company") for the year ended 31 December 2021.

Information on directors

The names, qualifications, experience and special responsibilities of each person who has been a director during the year and to the date of this report are:

Koon Lip ChooQualificationsExperienceInterest in shares and options Special responsibilities Other current directorships in listed entities

Other directorships in listed entities held in the previous three years

Dr Koon Lip Choo holds a PhD and Doctorate of Business Administration in Investment Psychology, an MBA from the University of California, Los Angeles, and a BSc in Applied Mathematics from the National University of Singapore.

Based in Singapore and Hong Kong, Dr Choo began trading as a retail trader and investor in 2004, then eventually specialising in managing private equity and venture capital investment. Dr Choo established the Forex Asia Academy and Consultancy (in 2008), a Singapore-based educational services provider which was awarded 'The Best Financial Education Project in Asia' by ShowFxAsia Expo 2009. He currently owns more than 10 trading- and investment-related businesses in Singapore, Malaysia, Hong Kong and China. 18,800,001 fully paid ordinary shares

Executive Chairman; Chief Executive Officer N/A

N/A

Francesco Cannavo Experience

Interest in shares and options Special responsibilities Other current directorships in listed entities

Other directorships in listed entities held in the previous three years

Francesco Cannavo is an experienced public company director with significant business and investment experience working with companies operating across various industries and has been instrumental in assisting several listed and unlisted companies achieve their growth strategies through the raising of investment capital and the acquisition of assets. Francesco is an entrepreneur with a strong network of investors and industry contacts in the public company sector throughout the Asia-Pacific region and has extensive experience in capital raisings, investment activities and IPO's.

NIL

Non-Executive Director

Golden Mile Resources Ltd (ASX: G88); Western Mines Group Ltd (ASX: WMG); Stemcell United Limited (ASX: SCU)

Magnum Mining and Exploration Limited (ASX: MGU) (Resigned 10 March 2021);

InhaleRX Limited (ASX: IRX)- Formerly known as Lifespot Health Ltd (ASX: LSH) (Resigned 20 July 2021)

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I-Global Holdings Limited

ABN 28 611 470 010

Directors' Report

For the Year Ended 31 December 2021

Information on directors (continued)

Justyn Peter Stedwell

Qualifications	Justyn's qualifications include a Bachelor of Commerce (Economics
and Management) from Monash University, a Graduate Diploma of
Accounting at Deakin University and a Graduate Diploma in Applied
Corporate Governance at the Governance Institute of Australia.
Experience	Justyn Stedwell has over 10 years' experience as a Company
Secretary of ASX-listed companies in a wide range of industries
including biotechnology, agriculture, mining and exploration,
information technology and telecommunications.
Interest in shares and options	NIL
Special responsibilities	Non-Executive Director; Company Secretary
Other current directorships in	N/A
listed entities
Other directorships in listed	ECS Botanics Holdings Ltd (ASX: ECS) - Formerly known as Axxis
entities held in the previous	Technology Group Ltd (ASX: AYG) (Resigned 15 July 2019);
three years	Tymlez Group Limited (ASX: TYM) (Resigned 2 April 2020);
InhaleRX Limited (ASX: IRX)- Formerly known as Lifespot Health Ltd
(ASX: LSH) (Resigned 20 July 2021);
Hexagon Energy Materials (ASX: HXG) (Resigned 19 October 2021);
Fertoz Limited (ASX: FTZ) (Resigned 14 February 2022)

Directors have been in office since the start of the financial year to the date of this report unless otherwise stated.

Principal activities and significant changes in nature of activities

The principal activities of the Company during the financial year were the provision of management and corporate consulting services to Australian and international clients.

There were no significant changes in the nature of the Company's principal activities during the financial year.

Operating results

The loss of the Company amounted to $203,273 (2020: loss of $125,683).

Review of operations

Operations during the period were focused on the continued growth of the management and corporate consulting business. The Company's chairman, Dr Koon Lip Choo, leads a small team of consultants in providing these services with specific focus on corporate management consulting. This business unit is expected to generate the main source of income for the Company.

Significant changes in state of affairs

There have been no significant changes in the state of affairs of entities in the Company during the year.

Events after the reporting date

The COVID-19 pandemic has created unprecedented economic uncertainty. Actual economic events and conditions in the future may be materially different from those estimated by the Company at the reporting date. As responses by government continue to evolve, management recognises that it is difficult to reliably estimate with any degree of certainty the potential impact of the pandemic after the reporting date on the Company's operations, its future results and financial position. Refer to Note 23 to the financial statements for further information regarding the impact of COVID-19 on the Company's operations.

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