Pentanet : Transaction update presentation

onlyuse ersonalTRANSACTION UPDATE

20 December 2021

DISCLAIMER

onlyuse

ersonalPage 2

INVESTOR UPDATE

IMPORTANT: You must read the following before continuing.

Summary information in relation to Pentanet Limited.

This presentation contains summary information about Pentanet Limited (ACN 617 506 279) ("Company"), its subsidiaries and their activities which is current as at the date of this presentation, unless otherwise indicated. The information in this presentation remains subject to change without notice, and the Company is not responsible for updating, nor does it undertake to update, it.

Industry data - Certain market and industry data used in connection with or referenced in this presentation, including in relation to other companies in the Company's peer group, may have been obtained from public filings, research, surveys or studies made or conducted by third parties, including as published in industry-specific or general publications. Neither the Company nor its advisors or their respective representatives, have independently verified any such market or industry data.

Not financial product advice - This presentation, and the information provided in it, does not constitute, and is not intended to constitute, investment or financial product advice (nor tax, accounting or legal advice). This presentation should not be relied upon as advice to investors or potential investors and has been prepared without taking account of any person's individual investment objectives, financial situation or particular needs. Any investment decision should be made based solely upon appropriate due diligence. Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own investment objectives, financial situation and needs and seek legal, accounting and taxation advice appropriate to their jurisdiction. Recipients of this presentation are advised to consult their own professional advisers. An investment in the Company is subject to significant risks, both known and unknown and including (without limitation) risks of loss of income and capital. A number of risks are beyond the control of the Company.

Future performance, forward-looking statements and key risks - This presentation contains certain "forward-looking statements". Forward-looking statements can generally be identified by the use of forward looking words such as "forecast", "likely", "believe", "future", "project", "opinion", "guidance", "should", "could", "target", "propose", "to be", "foresee", "aim", "may", "will", "expect", "intend", "plan", "estimate", "anticipate", "continue", "indicative" and "guidance", and other similar words and expressions, which may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated dates, expected costs or outputs for the Company. To the extent that this presentation contains forward-looking information (including forward-looking statements, opinions or estimates), the forward-looking information is subject to a number of risk factors, including those generally associated with the telecommunications industry. Any such forward-looking statement also inherently involves known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements to be materially greater or less than estimated.

Any forward-looking statements are also based on assumptions and contingencies which are subject to change without notice and which may ultimately prove to be materially incorrect, as are statements about market and industry trends, which are based on interpretations of current market conditions. Investors should consider the forward-looking statements contained in this presentation in light of those disclosures and not place reliance on such statements. The forward-looking statements in this presentation are not guarantees or predictions of future performance and may involve significant elements of subjective judgment, assumptions as to future events that may not be correct, known and unknown risks, uncertainties and other factors, many of which are outside the control of the Company. As a result, there can be no assurance that actual outcomes will not materially differ from these forward-looking statements. The forward-looking statements are based on information available to the Company as at the date of this presentation. Except as required by law or regulation, the Company undertakes no obligation to provide any additional or updated information or update any forward-looking statements, whether as a result of new information, future events or results or otherwise.

Indications of, and guidance on, future performance are also forward-looking statements, and include statements in this presentation regarding expected or indicative costs, indicative revenues, indicative outputs and anticipated dates. To the maximum extent permitted by law, the Company, its advisors and their respective directors, officers, employees, advisers, agents and intermediaries (together, "Relevant Parties") disclaim any obligation or undertaking to release any updates or revisions to the information to reflect any change in expectations or assumptions, or any change in events, conditions or circumstances on which any such information or statement is based. Nothing in this presentation will, under any circumstances (including by reason of this presentation remaining available and not being superseded or replaced by any other presentation or publication with respect to the Company or the subject matter of this presentation), create an implication that there has been no change in the affairs of the Company since the date of this presentation.

To the maximum extent permitted by law, the Relevant Parties make no representation or warranty (express or implied) as to the fairness, accuracy, reliability, currency, reasonableness or completeness of the contents of this presentation or any other information (whether written or verbal) that the Relevant Parties otherwise provide to the recipient. The recipient may not rely on the contents of the presentation or any information in it in making any decision to invest or acquire an interest in the Company or its assets. To the maximum extent permitted by law, the Relevant Parties are not liable for any direct, indirect or consequential loss or damage suffered (whether foreseeable or not) by any person (whether arising from negligence or otherwise) as a result of relying on this presentation or the information in it, any errors therein or omissions therefrom, or any other written or oral communications transmitted to the recipient in the course of its evaluation of the Company, or otherwise in connection with this presentation or the information in it.

Investment risk - As noted above, an investment in the Company's securities is subject to investment and other known and unknown risks, a number of which are beyond the control of the Company. The Company (nor its related bodies corporate) does not guarantee any particular rate of return or the performance of the Company, nor does it guarantee the repayment of capital from the Company or any particular tax treatment. Prospective investors should make their own enquiries and investigations regarding all information in this presentation, including but not limited to the assumptions, uncertainties and contingencies which may affect future operations of the Company and the impact that different future outcomes may have on the Company.

Not an offer - This presentation is for information purposes only and does not constitute or form any part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities in the Company in any jurisdiction. This presentation and its contents must not be distributed, transmitted or viewed by any person in any jurisdiction where the distribution, transmission or viewing of this document would be unlawful under the securities or other laws of that or any other jurisdiction.

TRANSACTION OVERVIEW

• Pentanet has acquired a 13.4% stake in CANOPUS for $4m in cash. Pentanet will be the largest shareholder in CANOPUS behind IP Group.

only• CANOPUS is a market leader in providing deep application-aware network visibility using Artificial Intelligence and Programmable Networking. It combines Programmable Networks with Machine Learning to enable deep visibility into network traffic, in real-time, at terabit scale, and for low cost.

• Pentanet has executed an MOU to enter a strategic partnership with CANOPUS including a

c mmitment to invest $1.5M of CANOPUS funds in the development of a consumer facing gaming l yalty and reward program that will fully exploit Canopus' real-time gaming analytics capability.

• The partnership will enable exclusive co-development of Pentanet's unique gamified uset lecommunications and gaming loyalty platform, Cloud.GG, using CANOPUS' analytics

t chnology.

• Designed by Pentanet as a gamified rewards system, the Platform will use CANOPUS analytics for deep insight into network traffic to offer a unique network loyalty and incentive program.

• The partnership is consistent with Pentanet's strategy to create additional revenue generating opportunities by further developing the Cloud.GG portal into a gamified network loyalty, rewards

ersonaland incentive program

• The transaction will be funded from Pentanet's existing cash reserves and is expected to complete on or around 24 December 2021. The Pentanet capital raising on 18 June 2021 allocated $4m towards further Cloud.GG software development and Pentanet.GG gaming opportunities.

• Pentanet is entitled to appoint one director to the CANOPUS board while it holds at least a 10% stake in CANOPUS. Mr Stephen Cornish has provided CANOPUS with his consent to act as director of CANOPUS.

Page 3

INVESTOR UPDATE

Deployment of large-scalemmWave wireless telecommunications network

⬟

GROW OUR SUBSCRIBER BASE

EXPAND NETWORK INCREASING POTENTIAL MARKET

ONGOING STRATEGY (continues)

By further developing the Cloud.GG portal into a gamified network loyalty, rewards and incentive program (the "Program") we are executing on the first and third limb of Pentanet's strategy.

onlyThe program will increase margins and ARPU by creating additional recurring revenue-generating opportunities by diversifying our existing product offerings. This diversification is expected to attract

more subscribers to Pentanet's networks. In addition, the loyalty rewards and incentive program provides them with a higher-quality customer experience and a competitive service offering.

use

ersonal	⬟	Introduce new technology to increase	⬟	Increase available speeds to 1Gbps for
	on-net coverage		more fixed wireless customers
⬟	Deliver high-quality customer experience	⬟	Line of sight to tower no longer required
				for every subscriber
	⬟	Limit churn	⬟	Increase market penetration with greater
		Customers become advocates
	⬟		fixed wireless coverage across Perth metro
				area

• Competitive service offering
• Targeted marketing and media strategy

Page 4

INVESTOR UPDATE

INCREASE $ MARGINS

• Attract more off-net subscribers to higher margin on-net services
• Diversify product offering (VOIP, consumer electronics)
• NVIDIA GeForce NOW Alliance Member bringing cloud gaming service to Australia
• Continue development of premium brand for alignment to speed and quality

ABOUT CANOPUS NETWORKS

CANOPUS Networks combines onlyProgrammable Networks

(software-defined networking, SDN) with Machine Learning to e able deep visibility into network traffic, in real-time, at terabit scale, and for low cost.

What's the mission useof CANOPUS Networks?

CANOPUS aspires to be embedded in all networks - Telcos, Enterprises, National Infra tructure, and Governments - to make all data-in-motion indexable and searchable, in real-time, at Terabit speeds, across billions of endpoints; all with very low deployment cost and effort.

FOUNDERS

Vijay Sivaraman

Co Founder & CEO

• Professor & Inventor
• Silicon valley startup experience
• Commercial projects with Google, Cisco, HPE, Optus, etc.

Himal Kumar

Co Founder & CTO

• Software Engineering adept
• SDN and AI/ML expert
• Skilled leader in open-source technology R&D

ADVISORS	twelve years.	roles across banking, private and
	Kevin Bloch	Genevieve Gregor
	Advisor	Advisor
	● Former Chief Technology Officer (CTO)	● Over 25 years' experience in various
	for Cisco Australia and NZ for over	investment, commercial and finance
	● Previously leading Engineering across	public companies.
	Cisco's entire technology portfolio.	● Previously worked at Goldman Sachs,
		Citigroup and Glencore.

ersonalPage 5

INVESTOR UPDATE

BOARD

David Spence

Chairman

• 20+ internet-related businesses as Chairman, CEO, Director.
• Former CEO of OzEmail
• Former Chairman of PayPal Australia

Rob Appel

Director

• Entrepreneur, investor and executive of 20+ years.
• Industries include telecommunications, online media & marketing, ecommerce, fundraising and more.

Hakan Eriksson

Director

• Globally experienced technology leader with deep Telco expertise
• Former CEO of Ericsson Australia
• Former CTO for Telstra.

Paul Barrett

Director

• Experienced technology executive, working at the cutting edge of science and engineering for two decades.
• Experience in supporting early-stage technology to large multinationals.