Complii FinTech : March 2022 Quarterly Activities Report and Appendix 4C

During the March Quarter Complii:

• › Achieved a second consecutive positive cashflow from operations (profitable) quarter (excluding R&D receipts or future claims) of $1,049,000 (Q2 FY22 $291,000) (FY22 $506,000).

• › Successfully completed a small shareholder buy-back, consolidating the number of shareholders from 2,402 to 1,213 on the share register representing a reduction of 50%.

• › Continued to increase revenue streams in both transactional revenue and new recurring revenue.

• › $3.42B of new funds raised across 698 offerings through the Complii Capital Raising System during the quarter

• › Group Gross Receipts from customers increased to $3,218,000 in Q3 FY22 (Q2 FY22 $2,583,000) representing a 24.5% increase from the previous quarter, the receipts do not include the R&D grants receipts.

• › Operations delivered a $1,168,000 increase in cash at bank to $5,924,000 (Q2 FY22 $4,756,000 (representing a 24.6% increase from Q2 FY22)) with no debt.

• › Signed 6 ASFL holders as new clients, bringing the current total to 113 AFSL firms, who use at least one or multiple services provided by Complii Group and represent over 3,600 registered users of the Complii platform .

• › Increased its presence to serving 21% of the applicable AFSL target market

• › Business development focus on major projects commenced and delivered in Q3 FY22 included:

  Compliance

• › Completion of Phase 1 of the next Statement of Advice (SOA3000) automation and Adviser workflow efficiency.

• › Commenced Staff Trading module - a new module enabling electronic management for pre-ordering staff trading requests to check for conflicts of interests and establish Chinese walls, along with post-trade reconciliation.

• › Completion of FOFA Phase 2 resulting in further Fee Disclosure Statements and renewals efficiencies

  PrimaryMarkets

• › Commenced development integration into the Complii platform to allow seamless trading activities of securities in unlisted companies and funds in a compliant and efficient manner.

  Corporate Highway

• › Continued development and deployment of transactional opportunities across all 113 AFSL clients.

Outlook

With the completed PrimaryMarkets transaction, and platform integration underway, the acquisition of PrimaryMarkets has delivered a significant increase in the combined group's revenue in Q3 FY22 both from a transactional stream but also from annual recurring revenue.

The primary focus for the remainder of FY22 will be the full integration of the PrimaryMarkets platform into the Complii platform to maximise existing client and adviser uptake of the new PrimaryMarkets Trading Platform capabilities.

Complii also continues to concentrate development resources on enhancements of existing modules, projects designed to deliver new modules and, on the core architecture of the platform. All projects are constructed to deliver on new and changing compliance obligations and operational related efficiencies to our clients and onboarding new clients to the platform.

Complii Group will concentrate on growing existing subscriber activity of the new private trading capabilities, as integration of PrimaryMarkets' unlisted share trading capabilities into the wider suite of the Complii's Corporate Highway and operating modules, which should generate further opportunities for existing subscribers to extend their subscriptions of additional Complii modules.

Complii continues to explore appropriate and synergistic business aggregation/expansion opportunities, whilst remaining attentive on the success of the Group's organic growth strategy, developing, and delivering new products and services to existing AFSL clients, their licensed users and grow the customer and investor network base.

Summary Q3 FY22

Q3 FY22 Financials

• › Complii Group achieved its second consecutive cashflow positive from operations (profitable) quarter (excluding R&D) of $1,049,000.

• › Complii retains $5,924,000 cash, with no debt, at the end of Q3 FY22 (Q2 FY $4,756,000).

• › The Complii Group remains well-funded and well-resourced to deliver on its vision of becoming the financial services industry standard in targeted risk, compliance and business technology and offering investment and trading opportunities across its 113 AFSL clients via Corporate Highway and PrimaryMarkets..

Complii Managing Director Alison Sarich commented:

Cash at bank as at 31 March 2022 was $5,924,000 (Q1 FY22 $4,756,000).

Notable operating cash flow items included:

• › $3,218,000 receipts from customers (FY22: $6,500,000).

• › $903,000 of staff costs (FY22: $2,226,000).

• › $1,099,000 of administration and corporate costs (FY22: $2,903,000).

›

Further details of the cash flows of the Company are set out in the attached Appendix 4C.

We are delighted that the March 2022 Quarter has shown another extremely positive financial outcome attributed from the acquisition of PrimaryMarkets and the continued Complii ARR growth within the Complii Group businesses.

It is also very pleasing to disclose another profitable consecutive quarter coupled with increased cash at bank.

Complii continues to listen to the market and its customers and evolve its technology offering whilst ongoing exploring appropriate and strategic business aggregation and expansion opportunities

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Q3 FY22 Highlights

Use of Funds Update from 2020 Prospectus

The Company was re-admitted to the official list of the Australian Securities Exchange (ASX) on 17 December 2020 (Admission), having successfully completed a $7.0m capital raising on 10 December 2020. The Q2 FY22 quarter is included in the period covered by a Use of Funds statement and expenditure program in the Company's prospectus dated 11 November 2020 (2020 Prospectus) under Listing Rule 1.1 condition 3.

A comparison of the Company's actual expenditure since the date of Admission against estimated expenditure in the Use of Funds statement and expenditure program contained in the 2020 Prospectus is set out in the table below:

Use of Funds

Complii product development and integration

($7.0 m)Actual Q3 FY22 SpendComments on Spend from Prospectus to Q3 FY22 Actuals

Marketing of Complii Platform

Strategic and acquisition opportunities

$1,580,000 $1,000,000 $690,000

$505,000

On track

$151,0000

On track

$74,000

On track

Business expansion costs 1

$2,000,000

$3,000

Seeking additional & appropriate opportunities

Costs of the Public Offer

Other costs associated with the Proposed Acquisition of Complii

Working capital following Public Offer 2

$721,000 $250,000 $759,000

- -Completed

Completed

$1,321,000

Exceeded

Total Use of Funds

$7,000,000

$2,054,000

• 1 Includes payments related to the acquisition of PrimaryMarkets, including relevant ASX, legal, broker, secretarial and corporate advisory expenses.

  This announcement was authorised to be given to ASX by the Board of Directors of Complii FinTech Solutions Ltd.

  For more information please contact:

• 2 This includes costs that were higher than budgeted for year-end audit, accounting, secretarial, legal and other payments for the group's business operations. Further this includes working capital costs related to PrimaryMarkets which were not budgeted at the time of the estimating expenditure for the Use of Funds statement in the 2020 Prospectus.

  Executive Chairman 0437 444 881investors@complii.com.au

  Craig Mason

  Managing Director (02) 9235 0028investors@complii.com.au

  Alison Sarich

• 3 Cash at Bank or working capital Q3 FY22 was $5,924,000.

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