Ann: Appendix 4C and Quarterly Activity Report, page-2

Highlights:
 User adoption increased 215% QoQ in the September quarter, surpassing critical milestone of 20,000 users and demonstrating continued SME demand for 9 Spokes’ business insights dashboard.
 Rapid pace of adoption in the past quarter resulted from successful and more efficient marketing campaigns (with similar costs as previous quarter) by 9 Spokes Direct and Barclays.
 9 Spokes’ product development work completed during the quarter enabled Suncorp to proactively promote the Suncorp dashboard from early October.
 Business development activity continued to materialise and formalise during the quarter including:
o The signing of a contract with Royal Bank of Canada.
o Rapid deployment of the Royal Bank of Canada dashboard means the ambitious target implementation date is on track, within the December quarter.
o Letter of intent with a leading New Zealand bank.
o Memorandum of Understanding signed with OCBC (the second largest Singaporean bank), following a successful Proof of Concept (POC).
o Existing channels plus business development has generated new incoming enquiries from banks in each region.
o Discussions continue with major US financial organisations and 9 Spokes is satisfied with progress being made.  Cash at bank as at 30 September was NZ$15.7m.
 The Company received approval for NZ$600k of co-funding over three years from NZ Trade & Enterprise (NZTE).
 During the December quarter, 9 Spokes expects cash receipts to increase by more than 130% on the YTD quarterly run rate of NZ$775k, reflecting an increase in both licence access and implementation fees.