Original-Research: Aspermont Ltd. - from GBC AG Classification of GBC AG to Aspermont Ltd. Company Name: Aspermont Ltd. ISIN: AU000000ASP3 Reason for the research: Research Report (Anno) Recommendation: Buy Target price: 0,07 AUD Target price on sight of: 31.12.2024 Last rating change: Analyst: Julien Desrosiers, Matthias Greiffenberger Continued Growth. 2023 a consolidation year. 2024e back to double digit growth.   Single digit growth. The company continues its growth with a 3% increase in revenue, in line with management guidance for FY2023.   Blue Horseshoe investment write off. The decision to write off the Blue Horseshoe investment was made due to its lack of short-term profitability. However, the company retains the intellectual property and remains open to revisiting the venture should industry conditions improve.   Capital efficiency. The company has improved its capital efficiency by divesting or upgrading low-margin products and events in favor of solutions that promise higher growth and profitability.   Normalized EBITDA remains healthy, from $2.8m to $1.7m while the normalized NPAT grew from $0.6m to $0.8m, indicating brighter future ahead.   New playgrounds. The Company has branded their marketing services branch into a new entity called Nexus. The Company has created two sold out live events in the past months. The company has signed an agreement with Rick Rule, a highly prominent in the mining sector investment realm.   Management and Key operators hiring. The company hired a new Chief Marketing officer, Group head of content and group head of research, bringing onboard industry wide leading executives.   Focus on long term strategy. FY2024 priority is to return to double digit growth.   Adjusted Price Target: Based on our Discounted Cash Flow (DCF) analysis, we have adjusted our share price target to 0.07 AUD / 0.04 EUR (previously: 0.10 AUD / 0.07 EUR), reflecting our current valuation assessment. You can download the research here: http://www.more-ir.de/d/29121.pdf Contact for questions GBC AG Halderstraße 27 86150 Augsburg 0821 / 241133 0 research@gbc-ag.de ++++++++++++++++ Offenlegung möglicher Interessenskonflikte nach § 85 WpHG und Art. 20 MAR Beim oben analysierten Unternehmen ist folgender möglicher Interessenkonflikt gegeben: (5a,7,11); Einen Katalog möglicher Interessenkonflikte finden Sie unter: http://www.gbc-ag.de/de/Offenlegung +++++++++++++++ Date and time of completion of this research: 11.03.2024 15:00 Date and time of first distribution: 12.03.2024 12:00 -------------------transmitted by EQS Group AG.------------------- The issuer is solely responsible for the content of this research. The result of this research does not constitute investment advice or an invitation to conclude certain stock exchange transactions.

Original-Research: Aspermont Ltd - von GBC AG Einstufung von GBC AG zu Aspermont Ltd Unternehmen: Aspermont Ltd ISIN: AU000000ASP3 Anlass der Studie: Research Update Empfehlung: Buy Kursziel: 0.08 AUD Kursziel auf Sicht von: 31.12.2024 Letzte Ratingänderung: Analyst: Julien Desrosiers, Matthias Greiffenberger On August 8th, Aspermont released their Q3 Financial Results   The company has drastically improved their growth rate compared to historical results.   Aspermont recently reported robust Q3 2023 results, showing continuity in its growth trajectory and diversification efforts. This Q3 2023 is the 28th consecutive quarters of growth in subscriptions. This performance highlights the company's resilience, strategic acumen, and potential for sustained value creation.   Aspermont exhibited a 4% year-on-year (YoY) increase in total revenue, reaching $4.4 million in Q3. This steady growth reflects the company's ability to navigate industry dynamics and capitalize on market opportunities.   The company's subscription revenue, a vital component of its business model, posted an impressive $2.3 million, translating to a substantial 7% YoY growth. This highlights Aspermont's consistent ability to attract and retain subscribers, a critical revenue stream.   The Content Works division contributed to a revenue of $0.2 million with an impressive YoY growth of 170%. This exemplifies Aspermont's agility in diversifying its portfolio and leveraging innovative content-driven offerings.   Aspermont's EBITDA reached $0.1 million, and more notably, the normalised EBITDA surged to $0.3 million, reflecting a remarkable 75% YoY growth. This performance accentuates the company's commitment to operational efficiency and cost management.   Product innovation: the launch of SCOUT, a ground-breaking our own announcement. SCOUT is a ground-breaking intent data product tailored for the global resource sector, underscores Aspermont's forward-looking approach to innovation. This product diversification augments the company's revenue streams and opens avenues for cross-selling.   Live event success: Aspermont's Future of Mining Perth event exemplifies the company's ability to curate impactful industry gatherings now that the COVID situation has been resolved. This translates into additional revenue streams and enhanced brand visibility as well as cross-selling opportunities.   Management expertise: the management team's proficiency, particularly in executing Project Skywave, signifies incremental growth potential. This expertise is poised to drive value in FY24.   Aspermont's strategic engagement with potential corporate advisers in London for potential acquisition opportunities echoes its intent to expedite growth. While historically focused on organic expansion, the company's solid financial foundation and market leadership position enable it to pursue inorganic avenues for accelerated market share capture.   The Q3 performance of Aspermont underscores its ability to navigate market complexities and leverage its core strengths for growth. The consistent growth in subscription revenues, successful forays into content innovations, and adept management augur well for the company's trajectory.   Aspermont's strategic moves, such as the launch of SCOUT and the Future of Mining Perth event, align with increasing revenue diversification and fortifying its industry foothold. The exploration of acquisition opportunities adds another layer of growth potential, a prospect that allows for potential synergies and expansion prospects.   In conclusion, Aspermont's Q3 results, exhibit a resilient growth story backed by strategic moves and effective management. While the transition from double-digit growth to 5% growth may raise concerns, it is essential to view this shift within the context of Aspermont's industry and lifecycle stage.   The company's strategic moves, diversification efforts, and exploration of new markets demonstrate a proactive approach to growth. With the company's innovative approach, industry leadership, and new potential for inorganic growth underscore its position as an attractive proposition for investors seeking exposure in the B2B media landscape.   We will be updating our valuation when the company publishes their FY financials in January. Until then, we are maintaining our BUY rating and our current target price of 0.08 AUD / 0.05 EUR. Die vollständige Analyse können Sie hier downloaden: http://www.more-ir.de/d/27623.pdf Kontakt für Rückfragen GBC AG Halderstraße 27 86150 Augsburg 0821 / 241133 0 research@gbc-ag.de ++++++++++++++++ Offenlegung möglicher Interessenskonflikte nach § 85 WpHG und Art. 20 MAR Beim oben analysierten Unternehmen ist folgender möglicher Interessenkonflikt gegeben: (5a,11); Einen Katalog möglicher Interessenkonflikte finden Sie unter: http://www.gbc-ag.de/de/Offenlegung +++++++++++++++ Date (time) Completion: 25/08/2023 (10.30 am) Date (time) first publication: 28/08/2022 (12.00 am) -------------------übermittelt durch die EQS Group AG.------------------- Für den Inhalt der Mitteilung bzw. Research ist alleine der Herausgeber bzw. Ersteller der Studie verantwortlich. Diese Meldung ist keine Anlageberatung oder Aufforderung zum Abschluss bestimmter Börsengeschäfte.

Original-Research: Aspermont Ltd - von GBC AG Einstufung von GBC AG zu Aspermont Ltd Unternehmen: Aspermont Ltd ISIN: AU000000ASP3 Anlass der Studie: Research (Note) Empfehlung: Buy Kursziel: 0.08 AUD Kursziel auf Sicht von: 31.12.2023 Letzte Ratingänderung: Analyst: Julien Desrosiers, Matthias Greiffenberger Growth even facing headwinds market conditions. Renowned top executive and management hiring. Forecast focus on return to double digit growth.   Facing headwinds but growing. The revenues are up 1% YoY, reaching $9.36m AUD. Revenues are in line with company’s guidance.   Increased net liquidity asset. The company has a net liquidity position of 4.4m, up from HY 2022 $3.9m.   HY gross margin, lower but healthy. The company’s gross margin has decreased to 63.56% for the HY 2023.    Privileged position. While the entire sector is seeing important diminution in publicity revenues and overall revenues, the company’s revenues are still growing.    Accountable. The company’s guidance has proven right once again. The management has a core understanding of their business and market conditions.   Enviable Hiring. The company continues to hire top talent from different bluechip companies, building a dream team. The fruit of this hiring should be borne soon enough with implementation and scaling of new and existing products.   Operational Agility. Decentralised structure and scalable human resources for rapid launch or products while controlling investment risk as seen in the increase of their net asset liquidity.   Continued double digit growth. The company guidance is to reach a double digit growth in revenues for the FY2023.   Based on our DCF model, we maintain our Buy rating with a price target at 0.08 AUD (0.05 EUR) (previously: 0.10 AUD (0.07 EUR)) per share. Die vollständige Analyse können Sie hier downloaden: http://www.more-ir.de/d/27245.pdf Kontakt für Rückfragen GBC AG Halderstraße 27 86150 Augsburg 0821 / 241133 0 research@gbc-ag.de ++++++++++++++++ Offenlegung möglicher Interessenskonflikte nach § 85 WpHG und Art. 20 MAR Beim oben analysierten Unternehmen ist folgender möglicher Interessenkonflikt gegeben: (5a,7,11); Einen Katalog möglicher Interessenkonflikte finden Sie unter: http://www.gbc-ag.de/de/Offenlegung +++++++++++++++ Date and time of completion of this research: 21.06.2023 16:00 Date and time of first distribution: 22.06.2023 10:00 -------------------übermittelt durch die EQS Group AG.------------------- Für den Inhalt der Mitteilung bzw. Research ist alleine der Herausgeber bzw. Ersteller der Studie verantwortlich. Diese Meldung ist keine Anlageberatung oder Aufforderung zum Abschluss bestimmter Börsengeschäfte.

Original-Research: Aspermont Ltd - von GBC AG Einstufung von GBC AG zu Aspermont Ltd Unternehmen: Aspermont Ltd ISIN: AU000000ASP3 Anlass der Studie: Research Note Empfehlung: Buy Kursziel: 0.11 AUD Letzte Ratingänderung: Analyst: Julien Desrosiers, Matthias Greiffenberger Q2-2023 preliminary report shows increased growth   Aspermont, which is a leading global resource sector B2B media provider, has once again demonstrated its robustness in Q2, maintaining an enviable growth trajectory while expanding operational capacity. The company has celebrated an impressive 27th consecutive quarter of double-digit growth in subscriptions revenues, fueled by positive contributions from Content Works.   The following are some of the company's highlights:   * Total revenue at $4.9m was up 3% year on year. * Subscriptions revenue at $2.3m was up 10% year on year. * Content Works revenue at $0.3m was up 102% year on year. * Net liquidity at $4.5m was up 10% year on year. * Partnership with Saudi Arabia confirmed   Aspermont's Q2 performance showcases its resilience and ability to thrive in challenging market conditions. The company's unwavering focus on subscriptions revenues, along with the remarkable growth of Content Works, underscores its adaptability and capacity to seize new business opportunities.   Furthermore, the net liquidity growth of 10% year-on-year reflects Aspermont's prudent financial management and its ability to maintain a solid financial foundation for future endeavors. This financial stability is crucial in an industry where economic headwinds can impact revenue streams, such as advertising.   With decreasing conventional advertising spending hitting the sector, Aspermont's strategic partnership with Saudi Arabia solidifies its position as a global player for content-based advertising in the mining sector and opens doors to new revenue streams. This milestone underscores the potential of the company's diversified business model and its ability to cater to evolving market demands.   Recent key appointments within Aspermont's management team signal the company's commitment to augmenting its operational capacity and expertise. The addition of experienced professionals such as Josh Robertson, Graeme McCracken, and Lindsay Santos further bolsters Aspermont's ability to capitalize on growth opportunities and expand its global footprint.   The company appoints Josh Robertson as Group Chief Marketing Officer Josh Robertson has extensive marketing experience gained at several large global network agencies. Josh held senior management positions at Havas, Publicis and Dentsu and as Chief Marketing Officer at VCCP serving large corporate and government clients worldwide.   The company appoints Lindsay Santos as Group Head of Events The role of Group Head of Events is a recently established position that carries the crucial responsibility of overseeing the creation and execution of Aspermont's global events, in alignment with the company's dedication to crafting top-notch gatherings within the global resource sectors.   Ms Lindsay Santos brings with her more than 14 years of expertise in the events industry, having excelled in various roles encompassing the commercial, operations, and production domains. Her notable accomplishments include spearheading trade shows for InfoComm Asia over the past two years, catering to diverse industries. Lindsay's valuable experience in event launches and the development of fresh initiatives will significantly contribute to Aspermont's ambitious growth plans.   The company appoints Graeme McCracken as Non-Executive Director Mr McCracken has more than 30 years of experience in media, events, data and analytics across diverse industry sectors. Graeme has held senior management roles at RELX Group and Warburg Pincus, and CEO positions at Proagrica and CMD Group. Graeme is a graduate of the University of Glasgow with a master’s degree in politics and economics.   In conclusion, Aspermont's continued double-digit growth in subscriptions revenues, successful partnerships, and prudent operational expansions highlight its position as a frontrunner in the global resource sectors' B2B media landscape. The company's progressive inward investment program, alongside its emphasis on strategic hires, demonstrates a forward-thinking approach and positions Aspermont for sustained success.   The company's ambitious initiatives, including projects such as Skywave, Esperanto, and archive digitalization, contribute to its long-term growth prospects. Aspermont's unwavering commitment to delivering high-value content to a global audience further enhances its monetization potential. All this while boosting its overall net liquidity position.   Until then, the results published by the company for their Q2-2023 increases our confidence in the company achieving our FY 2023 financial projections. We are therefore maintaining our BUY rating and our current target price of 0.11 AUD / 0.07 EUR. Die vollständige Analyse können Sie hier downloaden: http://www.more-ir.de/d/27057.pdf Kontakt für Rückfragen GBC AG Halderstraße 27 86150 Augsburg 0821 / 241133 0 research@gbc-ag.de ++++++++++++++++ Offenlegung möglicher Interessenskonflikte nach § 85 WpHG und Art. 20 MAR Beim oben analysierten Unternehmen ist folgender möglicher Interessenkonflikt gegeben: (5a,11); Einen Katalog möglicher Interessenkonflikte finden Sie unter: http://www.gbc-ag.de/de/Offenlegung +++++++++++++++ Date (time) Completion: 19/05/2023 (13.45 am) Date (time) first publication: 22/05/2022 (11.00 am) -------------------übermittelt durch die EQS Group AG.------------------- Für den Inhalt der Mitteilung bzw. Research ist alleine der Herausgeber bzw. Ersteller der Studie verantwortlich. Diese Meldung ist keine Anlageberatung oder Aufforderung zum Abschluss bestimmter Börsengeschäfte.

Original-Research: Aspermont Ltd - von GBC AG Einstufung von GBC AG zu Aspermont Ltd Unternehmen: Aspermont Ltd ISIN: AU000000ASP3 Anlass der Studie: Research Report (Anno) Empfehlung: Buy Kursziel: 0.10 AUD Kursziel auf Sicht von: 31.12.2023 Letzte Ratingänderung: Analyst: Julien Desrosiers, Matthias Greiffenberger XaaS powerhouse in the making. 64% Gross Profit Margin. Record FY2022 results.   FY net results impacted by one-time event. The company has posted their highest EBITDA results with 2.1M AUD but ended the financial year with a net loss of (0.31M AUD) due to a 700k write-off of the Blue Horseshoe investment.   Strong cash position. The company has over AUD 6.6M cash on hand.   High gross margin maintained. The company has maintained a 64% gross margin for the FY 2022 compared to 65% for FY 2021.   Stronger EBITDA margin. The company increased their EBITDA margin from 10% for the FY2021 to 12% for the FY2022.   Increase in recurring revenues. Aspermont grew their recurring revenues base from 70% to 75% YoY for 2022.   Continued growth. The company is growing at a double-digit rate across the XaaS KPIs board. Most importantly, their subscribers' ARPU has increased by 28% to a record $1538.   Delivering on promises:  The company has exceeded all their FY2022 guidance.   25 consecutive quarters of growth. The CaaS model is still growing, such as total revenues and earnings.   Based on our DCF model, with an updated market risk premium, we reviewed our price target to 0.10 AUD / 0.07 EUR (previously: 0.11 AUD / 0.08 EUR) per share. Die vollständige Analyse können Sie hier downloaden: http://www.more-ir.de/d/26465.pdf Kontakt für Rückfragen Offenlegung möglicher Interessenskonflikte nach § 85 WpHG und Art. 20 MAR Beim oben analysierten Unternehmen ist folgender möglicher Interessenkonflikt gegeben: (5a,7,11); Einen Katalog möglicher Interessenkonflikte finden Sie unter: http://www.gbc-ag.de/de/Offenlegung +++++++++++++++ Date and time of completion of this research: 24.02.2023 11:00 Date and time of first distribution: 24.02.2023 12:00 Target price valid until: max. 31.12.2023 -------------------übermittelt durch die EQS Group AG.------------------- Für den Inhalt der Mitteilung bzw. Research ist alleine der Herausgeber bzw. Ersteller der Studie verantwortlich. Diese Meldung ist keine Anlageberatung oder Aufforderung zum Abschluss bestimmter Börsengeschäfte.

Original-Research: Aspermont Ltd - von GBC AG Einstufung von GBC AG zu Aspermont Ltd Unternehmen: Aspermont Ltd ISIN: AU000000ASP3 Anlass der Studie: Research Update Empfehlung: Kaufen Kursziel: 0.11 AUD Kursziel auf Sicht von: 30.09.2023 Letzte Ratingänderung: Analyst: Julien Desrosiers, Matthias Greiffenberger FY-2022 preliminary report shows increased growth   The following are some of the company's highlights: -Total revenue +17% at $18.7m -Gross profit +15% at $12m, with gross margins of 64% -EBITDA +40% at $2.3m with margin of 12% -Ana Gyorkos joined Aspermont as the Group Content Director -Soochow CSSD Capital Markets retained as corporate adviser   The company has drastically improved their growth rate compared to historical results.   The growth rate has reached pre-COVID levels with revenues of over 18.7m. At the current cumulated rate, the company could grow at an accelerated 20% growth rate for FY2023e.   The company has also noticeably improved their recurring revenues to 75% up from 70%.   The company has now accumulated 25 consecutive growth quarters and generated positive return for shareholders over the past five years.   Most importantly, the company is increasing their internal investments directly out of their cash flow and cash reserves. The company remains very strong financially with cash on hand of $6.6m and long-term debt free.   We will be updating our valuation when the company publishes their FY financials in the next few weeks. We are therefore maintaining our BUY rating and our target price of 0.11 AUD / 0.08 EUR.   Die vollständige Analyse können Sie hier downloaden: http://www.more-ir.de/d/26135.pdf Kontakt für Rückfragen Offenlegung möglicher Interessenskonflikte nach § 85 WpHG und Art. 20 MAR Beim oben analysierten Unternehmen ist folgender möglicher Interessenkonflikt gegeben: (5a,11); Einen Katalog möglicher Interessenkonflikte finden Sie unter: http://www.gbc-ag.de/de/Offenlegung +++++++++++++++ Date (time) Completion: 06.12.2022 (17:30 am) Date (time) first transmission: 07.12.2022 (12.00 am) -------------------übermittelt durch die EQS Group AG.------------------- Für den Inhalt der Mitteilung bzw. Research ist alleine der Herausgeber bzw. Ersteller der Studie verantwortlich. Diese Meldung ist keine Anlageberatung oder Aufforderung zum Abschluss bestimmter Börsengeschäfte.

Original-Research: Aspermont Limited - von GBC AG Einstufung von GBC AG zu Aspermont Limited Unternehmen: Aspermont Limited ISIN: AU000000ASP3 Anlass der Studie: Research Report (Note) Empfehlung: BUY Kursziel: 0.11 AUD Kursziel auf Sicht von: 31.12.2023 Letzte Ratingänderung: - Analyst: Julien Desrosiers; Matthias Greiffenberger Record HY results 2022 - 65% Gross Profit Margin - Entering their 4th growth phase Continuing their fast growth rate. The company's long-term strategy implemented a few years ago has delivered as promised. Revenues are up 28% YoY, reaching $9.3M AUD. Strong HY cash position. The company has over $6.6M cash on hand. Highest HY gross margin. The company's gross margin continues to grow, reaching 67% for the HY 2022. Technological full leverage. The company is currently in a strong position with cash, revenues, and margins to fully leverage their technological platforms, create new products, grow their audience and provide investors with significant upside. Accountable. The company's guidance is detailed, with precise KPIs to achieve. This allows investors to clearly understand management views and renders management accountable for succeeding in reaching these metrics or for failing to do so. Scalable Model. The company's scalable XaaS models deliver high margin and recurring revenue stream, scalable to different sectors, geographies and languages. Operational Agility Decentralised structure and scalable human resources for rapid launch or products while controlling investment risk. Based on our DCF model, we maintain our price target to 0.11 AUD (0.08 EUR) per share. Die vollständige Analyse können Sie hier downloaden: http://www.more-ir.de/d/25315.pdf Kontakt für Rückfragen GBC AG Halderstraße 27 86150 Augsburg 0821 / 241133 0 research@gbc-ag.de +++++++++++++++ Offenlegung möglicher Interessenskonflikte nach § 85 WpHG und Art. 20 MAR. Beim oben analysierten Unternehmen ist folgender möglicher Interessenkonflikt gegeben: (5a,7,11); Einen Katalog möglicher Interessenkonflikte finden Sie unter: http://www.gbc-ag.de/de/Offenlegung +++++++++++++++ Date and time of completion of this research: 05.09.2022 (13.45 pm) Date and time of first distribution: 05.09.2022 (3.00 pm) Target price valid until: max. 31.12.2023 -------------------übermittelt durch die EQS Group AG.------------------- Für den Inhalt der Mitteilung bzw. Research ist alleine der Herausgeber bzw. Ersteller der Studie verantwortlich. Diese Meldung ist keine Anlageberatung oder Aufforderung zum Abschluss bestimmter Börsengeschäfte.

Original-Research: Aspermont Ltd. - von GBC AG Einstufung von GBC AG zu Aspermont Ltd. Unternehmen: Aspermont Ltd. ISIN: AU000000ASP3 Anlass der Studie: Empfehlung: International Investment Forum Letzte Ratingänderung: Analyst: Julien Desrosiers; Felix Haugg Upcoming Investor Event: Aspermont to present at digital International Investment Forum (IIF) On May 19, the IIF International Investment Forum will take place. At this forum, Aspermont Ltd. will also present its business model and current business development. Presentation slot: Aspermont Ltd. (ISIN: AU000000ASP3) 04.00 am EST (New York, Toronto time) 10.00 am CEST (Frankfurt, Paris time) 05.00 pm HKT (Hong Kong, Perth, Singapore time) Speaker: Alex Kent, CEO The International Investment Forum (IIF) is a live, digital-only event that provides access to publicly traded companies from the small- and mid-cap segments around the world. Speakers on May 19, 2022 will be board members of publicly traded companies from the technology, commodities, security, medical, logistics and aerospace sectors. The program with schedule can be found at the following link: https://ii-forum.com/timetable-all-events/ Registrations for this event and Aspermont' presentation are available at the following link: https://us06web.zoom.us/webinar/register/3716522695074/ WN_DGpMon9sSautfBEH4gZ8Ng Die vollständige Analyse können Sie hier downloaden: http://www.more-ir.de/d/24107.pdf Kontakt für Rückfragen GBC AG Halderstraße 27 86150 Augsburg 0821 / 241133 0 research@gbc-ag.de +++++++++++++++ Offenlegung möglicher Interessenskonflikte nach § 85 WpHG und Art. 20 MAR. Beim oben analysierten Unternehmen ist folgender möglicher Interessenkonflikt gegeben: (5a,11); Einen Katalog möglicher Interessenkonflikte finden Sie unter: http://www.gbc-ag.de/de/Offenlegung +++++++++++++++ -------------------übermittelt durch die EQS Group AG.------------------- Für den Inhalt der Mitteilung bzw. Research ist alleine der Herausgeber bzw. Ersteller der Studie verantwortlich. Diese Meldung ist keine Anlageberatung oder Aufforderung zum Abschluss bestimmter Börsengeschäfte.

Original-Research: Aspermont Ltd. - von GBC AG Einstufung von GBC AG zu Aspermont Ltd. Unternehmen: Aspermont Ltd. ISIN: AU000000ASP3 Anlass der Studie: Research Update Empfehlung: BUY Kursziel: 0.11 AUD Kursziel auf Sicht von: 31/12/2022 Letzte Ratingänderung: Analyst: Julien Desrosiers; Felix Haugg Q2-2022 preliminary report shows increased growth The following are some of the company's highlights: - Total revenue +39% at $4.8m - Gross profit +43% at $3.1m, with gross margins of 65% versus 63% - Earnings +20% at $0.5m on a normalized basis - Dean Felton joined the Aspermont board - Aspermont returned to live events with Future of Mining - Australia - Aspermont subsidiary, Kondinin Group, awarded $2.3m government contract - Aspermont set out corporate strategy at recent AGM - Soochow CSSD Capital Markets engaged as corporate adviser The company has drastically improved their growth rate compared to historical results. This growth in revenues is by far the strongest compared to previous full year results and Q1 2022. The company has already generated revenues of over 9M AUD for the first half of 2022. At the current cumulated rate, the company could grow at an accelerated 25% growth rate for FY2022e. This rhythm is far higher than our current estimates, which is 8.9%. The company has now accumulated 23 consecutive growth quarters and generated positive return for shareholders over the past five years. Aspermont returned to live events Aspermont has organised their first live event, 'The Future of Mining' March 27-29 in Australia. For this year, Aspermont is returning to the live events scene with FOM Sydney, which will bring in more than $1 million in new revenue at guaranteed gross margins. FOM Denver is scheduled for September 27th, 2022, with high advance bookings; it is the biggest Aspermont event to date with over 700 registered guests. Kondinin Group, awarded $2.3m government contract At the heart of Aspermont's agricultural media brands is the Kondinin Group, which is the premier information distributor to Australia's agricultural sector. Mr David Littleproud, Minister for Agriculture and Northern Australia, awarded $2.3 million Federal Drought Resilience Innovation Grant to Kondinin Group. In addition, the award will assist in the development of the Kondinin Group's Drought Resilience Program for Agriculture Research, which will give Australia's farmers comprehensive drought-related information and assistance on drought mitigation measures and technology. Aspermont JV's Blue Horseshoe going live Blue Horseshoe is a digital capital-raising platform that offer investors a wide range of investment opportunities. The company is currently lead by Antony Tofts, who is Blu Horseshoe's CEO. With this JV, Aspermont will provide a new, fast and fair way to invest in companies on the ASX coming soon, without commission, membership costs or licence fees. Institutional investors will be able to invest in four easy steps: This new platform will offer important advantages for the institutional clients: - Free access to more capital raises - No change of brokers - Same prices for all - Transparent and fair allocations policy - Instant offers alerts - Quick bidding tools - Keep using your favorite HIN - Secured and regulated by ASIC Antony Tofts, Blu Horseshoe CEO Mr Tofts has an impressive curriculum. He has held executive positions in ASX-listed firms, include director, officer, and executive positions. Antony has also worked at the Sydney Stock Exchange, where he was responsible for Listing & Market Operations, as well as the Head of Market Supervision & Listing Compliance. Prior to joining the exchange, he worked at Computershare, where he helped firms through their initial public offering (IPO) and listed company life cycle, after earlier positions with Barclays Private Bank's Business Development team (London) and HSBC Bank (Global Project team). M. Toftsholds a Master's in Business Administration (with a concentration in Corporate Finance), a Bachelor of Commerce (from the University of Cape Town). Dean Felton joined the Aspermont board Dean Felton has over 25 years of experience in the mining business, having held top management and consultancy positions with Rio Tinto, BHP and Vale, among other companies. Dean's previous senior management positions at Accenture and Ernst & Young have provided him with significant knowledge of capital and technology capabilities that he will bring to Aspermont. Mr. Felton should be a key addition to Aspermont's extensive growth in Latin America and Africa. We will be updating our valuation when the company publishes their HY financials in May. Until then, the results published by the company for their Q2-2022 increases our confidence in the company achieving our FY 2022 financial projections. We are therefore maintaining our BUY rating and our current target price of 0.11 AUD / 0.07 EUR. Die vollständige Analyse können Sie hier downloaden: http://www.more-ir.de/d/24053.pdf Kontakt für Rückfragen GBC AG Halderstraße 27 86150 Augsburg 0821 / 241133 0 research@gbc-ag.de +++++++++++++++ Offenlegung möglicher Interessenskonflikte nach § 85 WpHG und Art. 20 MAR. Beim oben analysierten Unternehmen ist folgender möglicher Interessenkonflikt gegeben: (5a,11); Einen Katalog möglicher Interessenkonflikte finden Sie unter: http://www.gbc-ag.de/de/Offenlegung +++++++++++++++ Date and time of completion of this research: 09/05/2022 (10.30 pm) Date and time of first distribution: 09/05/2022 (12.00 am) -------------------übermittelt durch die EQS Group AG.------------------- Für den Inhalt der Mitteilung bzw. Research ist alleine der Herausgeber bzw. Ersteller der Studie verantwortlich. Diese Meldung ist keine Anlageberatung oder Aufforderung zum Abschluss bestimmter Börsengeschäfte.

Original-Research: Aspermont Ltd. - von GBC AG Einstufung von GBC AG zu Aspermont Ltd. Unternehmen: Aspermont Ltd. ISIN: AU000000ASP3 Anlass der Studie: Research Report (Anno) Empfehlung: BUY Kursziel: 0.11 AUD Kursziel auf Sicht von: 31/12/2022 Letzte Ratingänderung: Analyst: Julien Desrosiers; Felix Haugg Record FY results 2021 - 65% Gross Profit Margin - Profitable & scalable XaaS model First FY posting positive net profit after tax. The Company long term strategy put in force a few years ago has delivered as promised. Strongest FY cash position. The Company has over $7M cash on hand. Highest FY Gross Margin. The Company's Gross Margin has jumped from 56% to 65% for the FY 2021 compared to the FY2020. Highest FY Operational Cashflow. For the FY2021, the Company posted $2.6M operational cashflow, up of $0.1M compared to the previous fiscal year. Record EBITDA FY2021. The Company presented yearly EBITDA of $1.6M, up from $0.4M in FY 2020 and $-1.1M for FY2019. Phase of sustained growth. Depending on the KPI, the company is still growing at a rate of 15% to 25%. Most importantly, their subscribers' ARPU has increased by 15% to a record $1236. Delivering on promises: The Company has exceeded all their FY2021 guidance objectives and have set the bar even higher for FY2022. Based on our DCF model we have determine a price target of 0.11 AUD (0.07 EUR) per share. Die vollständige Analyse können Sie hier downloaden: http://www.more-ir.de/d/23433.pdf Kontakt für Rückfragen GBC AG Halderstraße 27 86150 Augsburg 0821 / 241133 0 research@gbc-ag.de +++++++++++++++ Offenlegung möglicher Interessenskonflikte nach § 85 WpHG und Art. 20 MAR. Beim oben analysierten Unternehmen ist folgender möglicher Interessenkonflikt gegeben: (5a,7,11); Einen Katalog möglicher Interessenkonflikte finden Sie unter: http://www.gbc-ag.de/de/Offenlegung +++++++++++++++ Date and time of completion of this research: 22/02/2022 (05.27 pm) Date and time of first distribution: 23/02/2022 (10.00 am) -------------------übermittelt durch die EQS Group AG.------------------- Für den Inhalt der Mitteilung bzw. Research ist alleine der Herausgeber bzw. Ersteller der Studie verantwortlich. Diese Meldung ist keine Anlageberatung oder Aufforderung zum Abschluss bestimmter Börsengeschäfte.

Original-Research: Aspermont Limited - von GBC AG Einstufung von GBC AG zu Aspermont Limited Unternehmen: Aspermont Limited ISIN: AU000000ASP3 Anlass der Studie: Company presentation Empfehlung: BUY Kursziel: 0.09 AUD Letzte Ratingänderung: Analyst: Julien Desrosiers; Felix Haugg Upcoming Investor Event: Aspermont to present at digital International Investment Forum (IIF) On February 17, the IIF International Investment Forum will take place. At this forum, Aspermont Ltd. will also present its business model and current business development. Presentation slot: Aspermont Ltd. (ISIN: AU000000ASP3) 04.00 am EST (New York, Toronto time) 10.00 am CET (Frankfurt, Paris time) 05.00 pm HKT (Hong Kong, Perth, Singapore time) Speaker: Alex Kent, CEO The International Investment Forum (IIF) is a live, digital-only event that provides access to publicly traded companies from the small- and mid-cap segments around the world. Speakers on February 17, 2022 will be board members of publicly traded companies from the technology, commodities, security, medical, logistics and aerospace sectors. The program with schedule can be found at the following link: https://ii-forum.com/timetable-all-events/ Registrations for this event and Aspermont' presentation are available at the following link: https://us06web.zoom.us/webinar/register/8416443987095/ WN_fM2DLtC_S7eMzHfL7uYamA Die vollständige Analyse können Sie hier downloaden: http://www.more-ir.de/d/23373.pdf Kontakt für Rückfragen GBC AG Halderstraße 27 86150 Augsburg 0821 / 241133 0 research@gbc-ag.de +++++++++++++++ Offenlegung möglicher Interessenskonflikte nach § 85 WpHG und Art. 20 MAR. Beim oben analysierten Unternehmen ist folgender möglicher Interessenkonflikt gegeben: (5a,11); Einen Katalog möglicher Interessenkonflikte finden Sie unter: http://www.gbc-ag.de/de/Offenlegung +++++++++++++++ Zeitpunkt der Fertigstellung: 11.02.2022, 10:00 Zeitpunkt der Veröffentlichung: 15.02.2022, 11:00 -------------------übermittelt durch die EQS Group AG.------------------- Für den Inhalt der Mitteilung bzw. Research ist alleine der Herausgeber bzw. Ersteller der Studie verantwortlich. Diese Meldung ist keine Anlageberatung oder Aufforderung zum Abschluss bestimmter Börsengeschäfte.

Original-Research: Aspermont Limited - von GBC AG Einstufung von GBC AG zu Aspermont Limited Unternehmen: Aspermont Limited ISIN: AU000000ASP3 Anlass der Studie: Research Update Empfehlung: BUY Kursziel: 0.09 AUD Kursziel auf Sicht von: 31/12/2022 Letzte Ratingänderung: Analyst: Julien Desrosiers; Felix Haugg Preliminary FY2021 shows positive Net Profit After Tax FY2021 preliminary report shows continued growth As per their preliminary numbers, the company has delivered on all their guidance: - Overall growth - Subscriptions growth rate to go back to pre-Covid-19 levels - Growth in audience - High growth in new products - Continued growth in margins and profitability The company has now cumulated 21 consecutive growth Quarters and generated positive return for shareholders for the past 5 years, even more when compared to the ASX and their peers in the media sector. We will publish full FY2021 report and update the share price target with the release by the company of their final FY 2021. Rating: BUY Target price: 0.09 AUD Die vollständige Analyse können Sie hier downloaden: http://www.more-ir.de/d/23189.pdf Kontakt für Rückfragen GBC AG Halderstraße 27 86150 Augsburg 0821 / 241133 0 research@gbc-ag.de +++++++++++++++ Offenlegung möglicher Interessenskonflikte nach § 85 WpHG und Art. 20 MAR. Beim oben analysierten Unternehmen ist folgender möglicher Interessenkonflikt gegeben: (5a,11); Einen Katalog möglicher Interessenkonflikte finden Sie unter: http://www.gbc-ag.de/de/Offenlegung +++++++++++++++ Date and time of completion of this research: 09/12/2021 (11.48 am) Date and time of first distribution: 13/12/2021 (09.00 am) -------------------übermittelt durch die EQS Group AG.------------------- Für den Inhalt der Mitteilung bzw. Research ist alleine der Herausgeber bzw. Ersteller der Studie verantwortlich. Diese Meldung ist keine Anlageberatung oder Aufforderung zum Abschluss bestimmter Börsengeschäfte.

Original-Research: Aspermont Limited - von GBC AG Einstufung von GBC AG zu Aspermont Limited Unternehmen: Aspermont Limited ISIN: AU000000ASP3 Anlass der Studie: Research Update Empfehlung: BUY Kursziel: 0,09 AUD Kursziel auf Sicht von: 31.12.2022 Letzte Ratingänderung: Analyst: Julien Desrosiers; Felix Haugg Impressive revenue growth and notable raise in gross profit Aspermont's performance demonstrates the company's ability to grow at a fast rate. When compared to Q4-2020, the company's revenues increased in all sectors in Q4-2021. Currently, we can only look at partial numbers due to Australian stock market regulatory laws. These figures show a clear increase in all revenue sectors. Their XaaS and service sectors grew by 20% and 17%, respectively, and now account for over 85% of total revenue. Their new data sector grew at a rate of 162%. Because this division is less developed, faster growth is expected. Nonetheless, it demonstrates how much potential management saw in this opportunity. The increase in revenue did not result in a proportional increase in gross profits margin. The quarter-on-quarter increase was only 12%, half of the total revenue increase of 24%. This is unsurprising, as we believe Aspermont needed to invest more money to maintain its current level of growth and develop the new Data sector, as evidenced by their Q4-2021 OPEX increase. Direct OPEX costs increased by 33%, owing to investments in new businesses and increased operational capacity to support long-term growth. All new investments are adequately funded by internal cash flow. However, reaching a gross margin of 65% is a significant achievement. We believe that the key to their new development strategy was to generate higher margins and use the extra cash flow to fuel growth. This appears to be working for the company at the moment, and we are eagerly awaiting the full Q4-2021 and FY-2021 results, which should be released very soon, to confirm our position. In the fourth quarter, Aspermont experienced two significant events. The company announced the establishment of a new fintech joint venture as well as the launch of their first-generation capital raising platform. Aspermont's current product offering in the mining sector will be enhanced by the new partnership with Spark Plus and IPC. Spark Plus is a corporate advisory firm that specializes in Asian roadshows for Asian companies. IPC is a Sydney-based licensed securities dealer. Across Asia and Australia, they provide Wealth Management and Corporate Advisory services to wholesale and sophisticated investors. The importance of the capital raising sector cannot be overstated. This is a fiercely competitive industry that is undergoing a complete transformation. Traditional banks and institutions continue to dominate the market, but new entrants are gaining traction. We believe that Aspermont unique position in the mining sector can pave the way for important financing activities and the timing of the company could not be better as the commodities have now entered in a super cycle. The association with both Spark Plus, and IPC could generate substantial cash flow within the next few years. We believe the gross profits to be very healthy and the growth to be in line with our expectations. We therefore confirm our buy rating with a 0.09 AUD target price. Die vollständige Analyse können Sie hier downloaden: http://www.more-ir.de/d/23119.pdf Kontakt für Rückfragen GBC AG Halderstraße 27 86150 Augsburg 0821 / 241133 0 research@gbc-ag.de +++++++++++++++ Offenlegung möglicher Interessenskonflikte nach § 85 WpHG und Art. 20 MAR. Beim oben analysierten Unternehmen ist folgender möglicher Interessenkonflikt gegeben: (5a,11); Einen Katalog möglicher Interessenkonflikte finden Sie unter: http://www.gbc-ag.de/de/Offenlegung +++++++++++++++ Date and time of completion of this research: 19.11.2021 (05:58 pm) Date and time of first distribution: 19.11.2021 (08:00 am) -------------------übermittelt durch die EQS Group AG.------------------- Für den Inhalt der Mitteilung bzw. Research ist alleine der Herausgeber bzw. Ersteller der Studie verantwortlich. Diese Meldung ist keine Anlageberatung oder Aufforderung zum Abschluss bestimmter Börsengeschäfte.