Thred : Appendix 4E – Preliminary Final Report

(ASX: THD)

• Rapid development of Thred platform puts company on schedule and on budget relative to prospectus operating plan
• Launch date confirmed for MVP alpha release of Thred's unified social messaging platform
• On target progress toward commercialisation, with more than $3.78 million in cash and cash receivables at 30 June 2016

  Thred Limited (ASX: THD, "the Company"), Australia's leading unified social messaging platform developer, is pleased to present its preliminary full year results for the year ending 30 June 2016 (FY16).

  Having joined the ASX in June 2016, Thred closes its first reporting period with solid foundations laid for commercialisation and future growth. The Company is pleased to report:

• Development of the Thred platform continues to proceed rapidly and on budget

• Launch date of Thred MVP alpha release confirmed to be 5 September 2016, ahead of schedule

• Recent re-endorsement of the platform by first channel partner Microsoft

• Loss before interest, tax, depreciation and amortisation (EBITDA) of $28 million, largely costs associated with the issue of securities to complete the acquisition

• A renewed focus on cost savings on entering the ASX-listed environment

• Company to progress Thred's development toward commercialisation.

  "Our progress sets the stage for a big year ahead for Thred," said Thred Chief Executive Officer David Whitaker.

  "The Company's tech development has continued apace and we are looking forward to making the Thred MVP alpha software available to selected users on schedule."

  Operational highlights

  As the business has developed toward commercialisation, the year to 30 June 2016 brought several operational highlights for Thred. The Company has:

• Significantly developed the Thred platform. Having proceeded through system design and backend development to integration and testing, the Thred social messaging application has advanced to the point where the Company can make its alpha release as expected

• Grown the Thred platform with a view toward integration with its first channel partner Microsoft. The Company is pleased to confirm that Thred remains on target for seamless integration across the spectrum of Microsoft Office 365 products.

• Progressed its development of machine learning engines that can learn users' preferences to provide a more targeted and satisfying messaging and sharing experience. On commercial release of the Thred platform, any content - documents, links, video, spreadsheets, presentations etc - will be easily shareable, searchable and able to be archived or commented on across a Thred group.

• Agreed partnerships with global hotel booking portal Zumata and payment processor First Global Data to integrate their platforms' capabilities with those of Thred to

enrich the Thred user experience.

In June 2016, Thredit Ltd, which previously operated the Thred business, 'acquired' Thred Ltd (formerly Promesa Ltd) to attain listed company status, broaden its access to capital markets and accelerate its journey to commercialisation. This acquisition was successfully completed with the re-quotation of Thred Ltd on 17 June 2016.

As part of its reverse takeover of Promesa, the Company successfully raised $6.35 million (before costs) in an oversubscribed capital raising led by Armada Capital at $0.05 per share. The Company and its directors appreciate the support shareholders have shown in bringing Thred into a listed environment.

The net loss result for FY16 is consistent with a startup-stage company which is progressing rapidly toward commercialisation.

The Company's Appendix 4E report is consolidated to include the activities and cash flows of Promesa during the short period of FY16 following its reverse takeover by Thred. Shortly before period end, the Company successfully disposed of Promesa's Peruvian mining exploration assets at a sale price (before costs) of US$350,000.

Thred's cash balance on 30 June 2016 was $3.313 million.

The Board of Directors would like to thank all investors for their continued support of Thred. The Company welcomes new shareholders with much optimism that the business is well- positioned to reward investors' faith in the year ahead.

For more information, please contact:

David Whitaker

Chief Executive Officer

+61 8 9389 5885

ir@thred.im

Tim Dohrmann

Investor and Media Enquiries

+61 468 420 846

tim@nwrcommunications.com.au

About Thred: Thred Limited (ASX: THD) is a software developer working toward commercialisation of a unified social messaging platform and web and mobile app to enable cross platform communication. Based in Perth, the Company has developed systems that unify and centralise users' contacts while providing a centralised communication hub. Thred aims to empower anyone, anywhere to easily connect with anyone else or any group across social networks, contact databases, email and more to create, manage and archive communications around relevant content.

Current Reporting Period: 30 June 2016

Previous Corresponding Period: 30 June 2016

There was nil revenue in the previous corresponding period.

The loss of $27.295 million is in most part due to the recognition of a share based payments expense of

$23.216 million resulting from securities being issued in association with the settlement of the acquisition of the software development company, Thredit Limited on 14 June 2016 and the Public Offer of shares related to the acquisition of Thredit Limited.

Amount per share (cents)

Franked amount per share (cents)

Tax rate for franking

Interim Dividend Nil Nil Nil

Final Dividend Nil Nil Nil

The Company did not declare a dividend during the financial period and has not declared a dividend since the end of the financial period.

NET TANGIBLE ASSETS PER SECURITY

AUD

As at 30 June 2016 0.005

As at 30 June 2015

In the period ending 30 June 2015, Thredit Limited had one sole shareholder.

4,828

The preliminary final report is based on accounts which are in the process of being audited. Full financial statements with additional Appendix 4e disclosure requirements are attached.