Nuheara : 2021 Annual Report and Appendix 4E, the Appendix 4G and Corporate Governance Statement

Chairman's Letter:

Dear Shareholders

On behalf of the Board of Nuheara Limited, I am pleased to present you with the Company's 2021 Annual Report. The 2021 financial year was a successful year for Nuheara, successfully advancing the execution of our growth strategy across multiple paths. Despite the global uncertainty caused by COVID-19, we have been able to grow and sustain a financially strong and responsible business guided by a clear purpose, allowing us to make a positive and significant impact in people's lives with our hearing technologies.

The 2021 financial year saw the Company deliver a record annual operating performance, including new revenue records and triple-digit revenue growth in each of our product categories. Our Direct-To-Consumer (DTC) sales channel underpinned the strong 2021 results, demonstrating the sales impact being generated from Nuheara's increased global awareness. Overall, the results firmly delivered on our long held strategy to scale the Company's sales across multiple global sales fronts, within both Product and Services sales channels.

We continued to invest in research and development activities to support our long-term growth plans, including certification under ISO 9001:2015 to provide context and validation to Nuheara's aspiration to be the world's leader in smart hearing solutions. The accreditation places Nuheara in a solid position to apply our products, technology and processes to FDA regulatory requirements in the United States.

The Company's hearing technologies and industry position were validated by the long term manufacture and supply agreement with USD$31 billion New York Stock Exchange Listed HP Inc (NYSE:HPQ) (HP). The Hardware Purchase Agreement has a contracted initial term of three years (with automatic renewals for successive one-year periods) and manages the design, manufacture, and supply of multiple products throughout the life of the contract.

The first Nuheara manufactured product supplied under the agreement is our HP Elite Wireless Earbud. Utilising Nuheara's Intellectual Property, these earbuds were designed as a premium compact audio product enhancing the user's ability to be productive, provide a personalised experience and be used comfortably in dynamic and ever-changing physical environments. The Product also carries a Nuheara co-brand.

Our strong working relationship with HP has been critical in developing and manufacturing Elite Wireless Earbuds seamlessly. As global leaders in our respective markets of PCs and Hearables, Nuheara anticipates the strengthening of its partnership with HP over the next three years

In line with the Company's growth strategy and substantial increase in revenue over the past 12 months, we further strengthened our management team to support the next growth phase with the appointment of new key hires and the creation of an Innovation Team. The newly established Innovation Team will further leverage global opportunities in the hearing healthcare market to enhance the use and take-up of Nuheara's products through methodical data analysis, deeper consumer insights and stronger digital audiological processes.

Also during the year, Nuheara's IQbuds2 MAX was placed on the cover of TIME magazine and named as one of the world's Best Inventions of 2020 that made the world better, smarter and even a bit more fun. The recognition from TIME put Nuheara at the pinnacle of product innovation globally.

In December 2020, Nuheara successfully raised $11.5 million in gross proceeds from a strongly supported Share Placement. The placement continued our careful management of the capital requirements of the Company as it rapidly grows. Nuheara's mission is to transform the way people hear by creating smart hearing solutions that are both accessible and affordable.

We are committed to this mission and will continue to invest in research and development initiatives, our people and other areas to remain at the forefront of hearing industry innovation, provide better hearing experiences for consumers, and drive sustainable longterm value for our shareholders.

The growth foundations of our business are now in place, and with multiple global market opportunities available, we are confident that our efforts from both a technology and sales point of view will translate into further growth for Nuheara.

I would like to extend my thanks to the Company's Co-founder, Managing Director and CEO Mr Justin Miller, my fellow Directors, our management team and all of our other employees for their dedication and commitment that has made Nuheara into a successful global company at the forefront of hearing innovation. On behalf of the Board, I would also like to thank shareholders for their continued support during the period. I look forward to delivering further news on the Company's continued success over the next 12 months.

Yours faithfully

The Hon Cheryl Edwardes AM

Non-Executive Chairman

Reports & Statements:
2021_Appendix 4G and Corporate Governance Statement_180821
NUH_2021_Appendix 4E and Annual Financial Report_180821
2021FY Results_Investor Presentation_180821