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ASX Announcement

31 January 2022

ACN: 096 870 978

T: 08 6489 1600

usewww.fruglgroup.com.au

Directors

personal

Jon Wild, Chairman

Mathew Walker, Corporate

Director

Sean Smith, CEO

S

nu Cheema, Steve Samuel,

J

int Company Secretaries

Issued Capital

ASX Code: FGL

180,000,000 Ordinary Shares

26,250,000

Unquoted

options

xercisable at $0.15 on or before

30 June 2022

29,500,000

Listed

options

exercisable at $0.10 on or before

20 July 2024

For

Overview

F: 08 6489 1601

E: info@fruglgroup.com.au

Suite 9, 330 Churchill Avenue,

S biaco WA 6008

Frugl is a retail intelligence ecosystem that acquires publicly available grocery data, enriches it, and utilises it to power two independent retail platforms; Frugl Grocery and InFocus Analytics.

With management drawn from major Australian and International retail organisations, Frugl combines retail experience, expertise in data analytics, and enterprise-scale data sets ready for immediate commercialisation.

FRUGL GROUP Q2 COMPANY

UPDATE

HIGHLIGHTS

FRUGL GROCERY VERSION 3.0 RELEASED FOR BOTH APPLE AND ANDROID MOBILE PLATFORMS

FRUGL ANTICIPATES CONTINUED QUARTERLY GROWTH ACROSS NEW USERS AND ACTIVE USERS

FRUGL GROCERY MARKETING ACTIVITY DRIVING POSITIVE USER GROWTH AND BRAND AWARENESS

Frugl Group Limited (ASX: FGL) ("Frugl" or the "Company") is pleased to announce to the market and shareholders with an update on Company operations and progress on the Company's commercialisation strategies.

Release of Version 3.0 of the Frugl Grocery App

New User Interface and major performance improvements

A refreshed user interface and mobile app utilising leading edge technologies including Flutter and Augmented Reality libraries has delivered substantial performance improvements and better user experience.

For personal use only

Additional retailer capability

Frugl Grocery now has the capability to add unlimited retailers to the platform to enhance shopping options for users. Retailers may be within the grocery category, or any complementary categories the Company decides will add value to its users. On launch the Company has commenced adding products from additional grocery retailers Drakes, IGA, Foodland and Aldi, to add to products from Woolworths and Coles, and will be seeking to add new products and categories in the future.

Addition of Social Login feature

Changes to the Frugl Grocery login process, including the additional of Social Logins utilising the most popular social such as Facebook, Google and Apple, have also been implemented to increase user data security, improve user sign-in and retention rates, and to make the onboarding process simpler and faster.

List Enhancements & Shopping Note

Substantial enhancements to lists and list sharing have been enabled to help users get the most from their shopping list experience. Enhancements include:

  • Shareable collaborative lists with multiple users
  • Custom and Saved Shared lists from external sources
  • Collaborative Family Lists for households

In addition, Frugl Grocery adds a new feature, the Shopping Note, which allows users to split their current shopping list into specific retailers, add product quantities and mark off products as they add them to their baskets. The Shopping Note is a foundational feature that is a pre-cursor to the transactional shopping basket, in development for future release.

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Frugl Grocery retains shopper wellness features

Frugl Grocery has retained and streamlined its wellness tools, allowing users to identify allergens and nutritional thresholds, and utilise these settings to filter their search results to help make healthier buying decisions for their households.

The release of Frugl Grocery Version 3.0 will set the foundations for commercialisation of the Frugl Grocery app beyond the current retail analytics revenue stream, and will be supported with increased marketing investment to grow the user-base and opportunities for new and participating retailers.

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Frugl experiences growth across key app metrics

The Company is pleased to announce that it is on track for continued quarterly growth across key metrics:

December Quarter User Growth

New User Accounts 30 Day Active Users

47%97%

Commercial Progress

The Company is forecasting quarterly growth and continued to progress its commercialisation strategy throughout the quarter. The Company is in numerous business development discussions with major retailers, consultants, suppliers and government agencies and is confident that it will continue to deliver future quarterly growth.

Appendix 4C

For personal use only

Outflows of $141k from corporate and administrative activities during the December quarter (refer Items 1.2(f) of the Appendix 4C) predominantly comprised of corporate & legal fees, accounting, company secretarial, KMP remuneration, research and development advisory fees, tax advisory, insurances and working capital. Pursuant to section 1.2(a), the operational expenditure of $415k incurred by the Company relates to the ongoing development of the Company's grocery comparison App, staff costs and the cost of delivering services to customers. The Company notes that the amount of $135k disclosed in the Appendix 4C under Section 6 includes payments to related parties and their associates and salaries and wages to members of the Board of Directors.

The Company engaged Cicero Group Pty Ltd for accounting, administrative and company secretarial services at $10,000 per month (exclusive of GST). Mr Mathew Walker is a shareholder in Cicero Group Pty Ltd.

This announcement has been authorised by the Board of Frugl Group Limited.

For, and on behalf of, the Board of the Company

Jon Wild

Chairman

Frugl Group Limited

- ENDS -

Forward looking statements

This announcement contains forward-looking statements which are identified by words such as 'may', 'could', 'believes', 'estimates', 'targets', 'expects', or 'intends' and other similar words that involve risks and uncertainties. These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions regarding future events and actions that, as at the date of this announcement, are expected to take place. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, the directors and our management. We cannot and do not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this prospectus will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements. We have no intention to update or revise forward-looking statements, or to publish prospective financial information in the future, regardless of whether new information, future events or any other factors affect the information contained in this announcement, except where required by law. These forward looking statements are subject to various risk factors that could cause our actual results to differ materially from the results expressed or anticipated in these statements.

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Disclaimer

Frugl Group Ltd. published this content on 31 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 January 2022 07:58:10 UTC.