Ann: H1 FY2019 Preliminary Results - Continued Strong Growth, page-16

Like you I have been there since the Ipernica days. Made the mistake of selling half my holding at 80c but I bought at 3c would you believe.However it’s easier now to sit comfortably knowing I have already made a profit and now I can just run with my remaining holding.

Re. Div. I think the market will expect a dividend in the 20/21 year as you cannot expect the market will wear continued grow with no profitability/div. At the end of the day you must demonstrate that you can make money. Therefore If profitability is not evident in 20/21 then I see the share price coming under pressure.

Without being an expert in what Nearmap do I do see that the company has scaleability in what they do.This is the initial reason I bought in. Scalability usually creates profitability. If I have one concern( other than competition ) it’s the rapidly increasing costs. They need to contain this a little if they want to be profitable.

Lets hope we continue to have the run we have had as the stock has held up very well in the recent volitility.