LIQUIDITY FOR UNLISTED SECURITIES

The Trading and Investment Platform for Unlisted Securities

Series 2 Capital Raising

July 2020Strictly Confidential

Strictly Confidential

General: The information provided in this presentation pertaining to PrimaryMarkets Limited (“PrimaryMarkets" or the "Company"), its business assets, strategy and operations is for general informational purposes only and is not a formal offer to sell or a solicitation of an offer to buy any securities, options, futures, or other derivatives related to securities in any jurisdiction and its content is not prescribed by securities laws. Information contained in this presentation should not be relied upon as advice to buy or sell or hold such securities or as an offer to sell such securities. This presentation does not take into account nor does it provide any tax, legal or investment advice or opinion regarding the specific investment objectives or financial situation of any person. While the information in this presentation is believed to be accurate and reliable, PrimaryMarkets and its agents, advisors, directors, officers, employees and shareholders make no representation or warranties, expressed or implied, as to the accuracy of such information and PrimaryMarkets expressly disclaims any and all liability that may be based on such information or errors or omissions thereof. PrimaryMarkets reserves the right to amend or replace the information contained herein, in part or entirely, at any time, and undertakes no obligation to provide the recipient with access to the amended information or to notify the recipient thereof. The information contained in this presentation is intended only for the persons to whom it is transmitted for the purposes of evaluating the Company. The information contained in this presentation supersedes any prior presentation or conversation concerning the Company. Any information, representations or statements not contained herein shall not be relied upon for any purpose. Neither we nor any of our representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this presentation by you or any of your representatives or for omissions from the information in this presentation. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed in this presentation. US transactions to be offered on PrimaryMarkets platform will only be offered through a U.S. FINRA/SIPC broker dealer. All transactions in non-U.S. jurisdictions are facilitated by PrimaryMarkets.

Confidentiality: This presentation is confidential and is intended, among other things, to present a general outline of the Company. The contents are not to be reproduced or distributed to the public or press. Each person who has received a copy of this presentation (whether or not such person purchases any securities) is deemed to have agreed: (i) not to reproduce or distribute this presentation, in whole or in part, without the prior written consent of the Company, other than to legal, tax, financial and other advisors on a need to know basis, (ii) if such person has not purchased securities, to return this presentation to the Company upon its request, (iii) without the prior written consent of the Company, not to disclose any information contained in this presentation except to the extent that such information was (a) previously known by such person through a source (other than the Company) not bound by any obligation to keep such information confidential, (b) in the public domain through no fault of such person, or (c) lawfully obtained at a later date by such person from sources (other than the Company) not bound by any obligation to keep such information confidential, and (iv) to be responsible for any disclosure of this presentation, or the information contained herein, by such person or any of its employees, agents or representatives.

Legal Disclaimer2

Strictly Confidential

Our Mantra – Delivering Liquidity for Unlisted Securities3

End-to-end solution for trading securities and raising capital with full transaction management and seamless execution from trading through to registry.

BUYERS

Own Research

Takes Time

Missing Know-How

Paperwork

SELLERS

Expensive Gatekeepers

High Minimums

No Investments

Bad Investments

High Fees

Lack of Diversification

THE PRIMARYMARKETS WAYOLD WAY

Private Trading Hubs | Secondary Share Sales | Capital Raising | Investor Centres | Corporate Advisory | Research | Cap Table Management

SELLERS

BUYERS

COMPANIES FUNDS

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Executive Summary4

Offer Size

Why PrimaryMarkets?

Structure

Use of Funds

Our Mission

Raising A$5M @ pre-money EV A$15M

• Securities in private companies and Funds are an attractive and sought-after investment. Investing inunlisteds is difficult to source, transact and inefficient.

• 100,000+ global investor network (40% Australian)

Australian unlisted public company – ordinary shares.

• Expansion capital to grow proven business model.• Develop and implement Platform/App technology.• Capitalize on PrimaryMarkets current progress to grow in Australia and into Asia.• Funds will enable delivery of immediate and scalable revenue growth.

Key to Success Clear and precise roadmaps for enhanced Technology, Products and Expanded Market Reach.

To empower Issuers in a more compelling regime by providing liquidity and access to unlisted markets bydirectly connecting companies/Funds, shareholders and investors.

Strategy

PrimaryMarkets:• Is the only Private Trading Hub platform in Australia and is consolidating the secondary trading in

securities in unlisted/private companies and Funds.• Has a proven, fully scalable business model with significant valuation upside.• Is looking to expand into Hong Kong and Singapore.

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5

VISION

To be the premier platform for buying and selling securities in private unlisted companies and Funds

KEY INITATIVES

❖ Enhance investment opportunities and global deal flow channels

❖ Activate and increase our 110,000+ Investor Network

❖ Expand trading in securities in private and ex-listed companies/Funds

❖ Build out end-to-end online mobile trading App

STRATEGIC GOALS

❖ Provide access to trade unlisted securities

❖ Create end-to-end digital trading Platform/App

❖ Build global Accredited/Wholesale Investor Network

Vision, Goals and InitiativesThe Trading and Investment Platform

AGGREGATION PLAY

❖ Roll-up complimentary growth FinTechs to build scale and technology capabilities

❖ Strategic Partnerships to broaden mutual reach for our investor network and offering opportunities

❖ Exit – Trade Sale or IPO

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Our Core Products6

Private Investing Made Easy

Private Trading Hubs Secondary Trading Investor Centres Raising Capital

➢ New Products➢ Enterprise TV (Sept. 2020)➢ Investment Fund (Q2 2021)

Trading Platform for buying and selling existing securities in private

companies and Funds

Connecting private companies and Funds to wholesale investors to

create liquidity & presence

Multiple one-off trading opportunities for

securityholders in private companies and Funds

Distribution of new raisings by private

companies and Funds

Cap Table Management

Proprietary digital securities registry

facilitating title T+0

Strictly Confidential

Centralised• Stock Exchanges• Clearing Houses• Banks

Decentralised✓ PrimaryMarkets✓ Carta✓ Forge/SharesPost

Technology is re-defining business from centralised institutions to decentralised ecosystems

Technology Roadmap - The Disruptive Evolution7

• Stock Exchanges such as ASX operate on a centralised model with a smorgasbord of Issuers all operating under a single set of rules – the supermarket model.

• PrimaryMarkets offers separate, bespoke Private Trading Hubs specifically designed for each Issuer operating under their own rules – the speciality store model.

PrimaryMarkets is analogous to a smart phone’s operating system providing an enabling

technology platform

Private Trading Hubs for each company/Fund on the PrimaryMarkets Platform are analogous to

the Apps on a smart phone

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The only platform able to offer the problem-solving business model for efficient trading in private markets

8

Price Discovery

Liquidity Enabler

Far-reaching global Investor

Network

Speed of Execution (aim from T+60 to

T+0

Transparency, Independence

and Trustworthy

Examples of Private Trading Hubs

Our Core Products - Private Trading Hubs

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Private Trading Hubs – Trading Platform9

Trading facility for securities in unlisted companies and Funds

Companies can stay private longer by providing liquidity on an on-going basis, not just at exit.

Secure, efficient controlled and independent.

Features include:

✓ Flexible Access: Company sets the rules - shareholders only, invitees or open access.

✓ Flexible Share Trading Rules.

✓ Transaction controls: Timing and conditions of sale determined by the company.

✓ Investor Resources: Company determines what is made available.

✓ Integrated processes for settlement. PrimaryMarkets liaises with Company to update Share Register and issue new Share

Certificates

Seller authorises Escrow to complete - Seller receives funds less Fees

Completion of transfer document (DocuSign), title re-confirmation then Buyer authorises release of funds

Online Escrow Account established - Buyer transfers funds into Escrow

Seller and Buyer complete online KYC/AML/Wholesale Investor ID verification

Trade is matched offline and finalised

PrimaryMarkets confirms trade details and publishes trade notice

Seller or Buyer submits trade notice

Seller and Buyer register online & accept T&Cs

Issuer provides Share Register, Investor Resources data & Trading Rules

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Why Private Markets are booming

Public Listing Liquidity

Estimated time to list an SME is 1.5 years

The average cost of IPO is A$600,000+

Private Markets Liquidity

Estimated time to list is 2-3 weeks

Cost of Private Trading Hub A$25,000

Vs

Private Trading Hubs - Benefits

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Case Studies11

Private Trading Hubs including 2 highly profitable exits

Case Study – Tyro Payments Limited

Private Trading Hub now ASX-listed

• PrimaryMarkets successfully traded A$38M+ of unlisted shares using our escrow services and online AML/KYC and Buyer Investor Status processes.

• Tyro commenced trading on the PrimaryMarkets Platform at A$1.07 per share in August 2016.

• Over the ensuing period price discovery through the Platform saw consistent share price growth.

• Tyro shares peaked at A$2.00 per share in September 2019 just prior to the announcement of the proposed IPO, delivering up to a 275% increase on the ASX closing price on 6th December 2019 (Market Cap A$1.3B).

Case Study – Planet Group Holdings

‘BY INVITATION’ Private Trading Hub to support pre-approved trading windows

• PrimaryMarkets provides Planet Group Holdings (PGH) with an independent, efficient and controlled market to support the needs of its shareholders (EV ~A$80M)

• PGH allows selected third parties access to the Platform to purchase shares.

• The Private Trading Hub allows PGH to address the liquidity needs of shareholders without the pressure to IPO.

Case Study – Haoma Mining NL

Ex ASX listed now Private Trading Hub

• Haoma Mining NL was formerly listed on the ASX.

• The Haoma Trading Hub is open to existing shareholders and eligible Buyers.

• PrimaryLedger manages the share registry.

• The Haoma Trading Hub provides liquidity for shareholders and minimises costs and regulatory requirements necessary for an ASX listing.

• PrimaryMarkets continues to facilitate secondary share trading for shareholders.

Case Study – AIRR Holdings Limited

Private Trading Hub now taken over by ASX listed Elders

• Trading range when first listed on PrimaryMarkets trading hub in May 2018 was A$6.60 to last traded price pre takeover in October 2019 of A$8.50.

• Takeover by Elders Limited (ASX listed) @ A$10.85 per share – EV $157M delivering up to a 65% increase from takeover.

• 194 shareholders.

• PrimaryLedger managed the share registry.

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The Cost-Benefit of IPO and then staying Listed12

The realities of contemplating listing or remaining listed on the an Exchange

What does all this really mean?

➢ Illiquidity for shareholders, investor short termism, limited broker support and difficulty raising new capital.

➢ Initial and ongoing high costs.

➢ Compliance brings costly infrastructure and increased overheads.

➢ Strategic & operational focus taken away with high-maintenance compliance regime.

➢ Attracts undue attention from shareholder activists, short sellers, ligation-funded class actions and opportunistic takeover offers.

➢ Exchanges enforces controls on companies for diversity, gender targets, social responsibility and “social licence to operate”.

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A technology-enabled Trading and Investment Platform

Our Core Products - Secondary Trading 13

Features include:

• Facilitating secondary trading of securities in an efficient, controlled, transparent and orderly environment.

• Opening up the private market for wholesale investors to improve liquidity across all unlisted/private securities.

• Investors can realize early liquidity without waiting for an IPO or trade sale including partial Founder sell-downs.

• Raises the standard for trading private and unlisted securities.

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Our Core Products – Cap Table Management14

Digital Registry Services - Cap Table Management Services

View all activity across the register

Transaction confirmation

Change view between Issuers & shareholder

Issue Holding StatementIssue New Securities

Strictly Confidential

15151515

Connecting private companies and Funds to wholesale investors creating liquidity + increasing market presence

Our Core Products - Investor Centres

Company’s tab with drop down of

Investor Centre Resources

Live Share Price and Historical

Graph

Information regularly updated

Company Banner Ad

on our Homepage

INVESTOR CENTRE FEATURES

✓ Marketing Communication: Regular communications (eDMs) to our 110,000+ global Investor Network.

✓ Platform Prominence: Company is prominently positioned on the PrimaryMarkets Homepage and Navigation bars.

✓ Targeted Investors: We can create specific campaigns accessing PrimaryMarkets’ Investor Network.

✓ Dedicated Customer Support

✓ Investor Resources and up-to-date Information: The Company determines what information is made available.

✓ Corporate Video and Commentary Note: Creation of institutional-grade corporate video and Commentary Note to better educate investors.

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Blueprint: Seamless Private Investing Platform/App 16

Identify Investments, Review Offer and Trade (Buy/Sell)

Clearing & Settlement – T+0

Cap Table Management

Onboarding InvestorsOnboarding Issuer

Investor Application

KYC/AML/CTF Compliance

Investor Status Accreditation

Signup

Issuer Application

Investor Resources &

Trading Rules

Open Private Trading Hub

Investor Management

Admin Console

Portfolio Management

Network

Management

Investor Relations

(Forums, Expos)

Digital Marketing

Mobile App Check-in

Offline

One-Off Secondary TradingCorporate Advisory Capital Raises

Online

Investor Connect

Trading Platform (omni-channel)

Issuer Resources Info

Issuer/Investor Communications

Strictly Confidential

Expansion Roadmap – Digital, Alliance and Alignment of Interests

Physical

Presence

Digital Scale

Alliance

• Secure in each jurisdiction - initially Hong Kong then Singapore.• Operate PrimaryMarkets business with fee sharing arrangements.• Source and expand PrimaryMarkets personnel in Asia.• Direct approaches (physical, phone, email, letter) to:

➢All “blue-chip”(above US$50M EV) local companies / Funds.➢Locally listed companies / Funds with Cap > US$100M.

• Mobile App development.

• Digital marketing & social media campaigns.

• Mandarin translated promotional/marketing materials.

• Organically increase local jurisdiction database of accredited investors, issuers and intermediaries.

• APIs into company Registries.

• Personnel to use their networks and connections.

• Promotions with local group bodies and associates (company directors, HKEX, accounting bodies, broker networks).

• Utilize “friendly ”PrimaryMarkets issuers, investors and intermediaries to introduce PrimaryMarkets to local players.

• Cross-referral with other local/global investor networks.

PrimaryMarkets partners with local participants:

• Scale through Alliances and Partnerships to align interests.

• A niche player focusing on blue chip companies and Funds.

PrimaryMarkets will expand its Technology deployment to connect with:• Company Registries• Fund Platforms• Fund Administrators• Professional firms• PE funds• Broker Networks

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Established, Successful Unlisted Private companies & Funds

Liquidity Predicament – Our Target Market - Staying Private Longer

Current corporate challenges for our Target Market

UnlistedPrivate

Leading (2,500+) unlisted companies

and Funds

o Difficult in raising capitalo Limited opportunities for liquidityo Pressure to go public

Listed

Companies with market

capitalisation of A$100M or less

o Burdensome compliance and governance

o Little research coverageo High costs to list and maintaino High levels of scrutiny.o No greater level of liquidity.o Difficult to raise capital.

Private companies can achieve higher private valuations

Unicorn valuations not always higher at IPO

PE Firms will often look for liquidity prior to IPOs

Founders, early-stage investors and employees often eager to have early liquidityHigh cost burden and time

to IPO and remain listed

Total Market Cap(3)

A$Average Market Cap(3)

A$

ASX Bottom 50 Listed Companies $29,618,412 $592,368

ASX Bottom 100 Listed Companies $87,087,930 $870,879

ASX Bottom 200 Listed Companies $270,445,050 $1,352,225

ASX Bottom 500 Listed Companies $1,453,246,890 $2,906,494

Australian Unlisted Market Size

A$5.0T (1)

2,373,568 Companies (2)

(1) ABS National Accounts Dec 2019 5232(2) ABS 8165 (3) ASX as at 15 May 2020

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Asian Growth Plans - Hong Kong and Singapore Statistics

AUSTRALIAA$

HONG KONGHK$

SINGAPORES$

Market Cap - Listed $2.1T (1) $33.4T (3) $58.5B(4)

Market Cap - Unlisted $5T(1) $106T(6)

Value of new equity raised - Listed $5.4B(2) $312.9B(7) $3.1B(5)

Value of new equity raised - Unlisted $1.2B(9)

Value of Secondary Trading - Listed $7.4B(5)

Value of Secondary Trading - Unlisted $3.4B(6)

1. https://www.bca.com.au/trends_in_australian_capital_markets + ABS National Accounts Dec 2019 52322. https://www.onmarket.com.au/about-us/blog/2019-ipos-return-an-average-of-35-2/3. https://www.statista.com/statistics/270126/largest-stock-exchange-operators-by-market-capitalization-of-listed-companies/4. https://www2.sgx.com/media-centre/20200110-sgx-reports-market-statistics-december-20195. https://www.sgx.com/research-education/market-updates/20200107-singapore-small-caps-significant-institutional-inflow6. http://www.hkgem.com/statistics/ms1/e_MktHighlights201912.html7. https://www.hkex.com.hk/Market-Data/Statistics/Consolidated-Reports/HKEX-Monthly-Market-Highlights?sc_lang=en&select={5B984B00-9551-4A5B-B3A4-4AFD16B70E88}8. https://www.pwc.com/us/en/services/deals/library/us-capital-markets-watch.html9. https://www.smartcompany.com.au/startupsmart/analysis/biggest-raises-2019/

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Upfront Listing Fees

Initial Set-Up Fees

Trading Fees

Monthly/Quarterly Administration Fees

Corporate Advisory/Actions Fees

Communication Actions / Distribution of Monies Fees

Ancillary Fees –Research, Marketing, Events, Escrow

Revenues are generated at the individual transaction level and at the ongoing Platform as a Service (PaaS) level

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Revenue Drivers20

Secondary Trading

Private Trading Hubs

New Equity

Cap Table Management

Investor Centres

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Leadership

Experienced and successful team

21

Gavin SolomonFounder

Executive Chairman

30+ years ECM in Australia/Asia including

as MD/CEO & Chairman of Helmsec Global Capital which

participated in raising >A$1.7B in 2008-2015

Jamie GreenCEO/Managing

Director

Former Head of M&A Advisory at

Patersons Securities, Corporate Finance at

Austock (Phillip Capital) and KPMG Corporate Finance

Rodney PayneExecutive

(elect)

Experienced big bracket banking

and international financial services operative. Well

respected, global Director with

extensive networks.

David SarkisExecutive Director

(elect)

30+ years Risk & Investment

management in Australia/Asia

including roles as CIO, CEO & MD across Capital

Markets and Asset Management

Nick CappIndependent Non-Executive Director

Founding CEO PrimaryMarkets and

Linqto Inc., ex-multinational

divisional head (Linfox), ex-Strategic

Advisor to Telstra.

Strictly Confidential

Team and Strategic Advisors22

Team Members Role Resume

Kate Graham Head of Secondary Sales Ex-Merrill Lynch Private Wealth, Macquarie Bank, Deutsche Bank.

Joti Singh CFO/GM – Operations & Finance 15+ years in the Financial Services Industry with expertise in managing accounting, finance, HR, client services and ECM.

Rick Solomon CTO 30+ years of experience in the strategic planning and technical/operational management.

Tiffany Fok Senior Manager Ex-Macquarie Group, Perpetual Investments and CBA.

Oscar de Vries Senior Manager Ex-Network officer Volvo Cars and Ferrari Australasia.

Jackson Capp Marketing Manager IT and marketing.

Strategic Advisors Role Resume

Philip Reicherz North American Representative Former Founding Partner SecondMarket Inc, Founder Magnolia Ventures, ex-Non-Executive Chairman of Linqto Inc.

Brett Spork Strategic Advisor Former CEO of E*Trade Australia, ex Director Macquarie Bank Financial Services, Aust. Stockbroking “ Hall of Fame”.

Darren Vaux Strategic Advisor 30+ years in the technology, property and maritime sectors. Director of commercial, NFPs and Government Boards.

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APPENDICES

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Platform Statistics24

www.primarymarkets.com – Platform Statistics (February 2016 to May 2020)

▪ Investor Network - 110,000+ (40% Australian: 60% overseas)

▪ Member/Followers locations - 119 countries

▪ Opportunities reviewed - 1,333+

▪ Opportunities listed - 333+

▪ Value of all Opportunities listed - > A$2B in value.

▪ Origin of Listings - Australia, NZ, USA, Canada, Germany, Malaysia, Singapore, Hong Kong & UK

▪ Average new unique web visitors per day -115+

Location of Investor Network

Location of Website Visitors

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PrimaryMarkets Corporate History25

• Launched in February 2016, PrimaryMarkets established new products and offerings and since late 2018 has refined the business to focus on creating, delivering and enabling Private Trading Hubs.

• As at 31st December 2018, had raised A$4.86M of equity - last raising in Q4 2018 of A$350,000 @ pre-money EV A$15M.

• On 31st January 2019 PrimaryMarkets was subject to a friendly all-scrip Takeover Offer by Linqto, Inc. (USA) at a combined EV US$24M i.e. EV of PrimaryMarkets @ US$12M.

• In 2019, following its Takeover by Linqto, PrimaryMarkets focused on the USA markets and competed (unsuccessfully) with large USA based broker-dealers trading in USA Unicorns with USA Buy-Side and USA Sell-Side.

• 31st January 2020 PrimaryMarkets was re-acquired by its Australian Founders who refocused the business back to operating Private Trading Hubs and Secondary Trading.

• Since February 2020, PrimaryMarkets has entered into a number of new Strategic Alliances, Partnerships and initiatives including growing its global investor reach.

• In April 2020 PrimaryMarkets completed a small Loyalty and Series 1 Placement to original PrimaryMarkets investors at a nominal issue prices.

• PrimaryMarkets is now primed to capitalise on the refocused business and its growth potential.

Strictly Confidential

• Forge - previously “Equidate”-one of the trading platforms thathelp employees sell their sharesin pre-IPO unicorn companies.

• Forge has had 6 funding roundsraising in total US$85.6M.

• Forge says it has now completedmore than US$1B in secondarytransactions through itselectronic trading platform,which matches an internationalset of willing buyers with holdersof vested stock options andprivate shares.

• Estimated Metrics • Employees = 62• Total Turnover = US$1B+• Est 2018 Revenues= US$6M+• Est Valuation= US$200M+• Total Funding Raised =

US$85.6M• Revenue/Employee =

US$90,000• Valuation/Revenue = 35x

• NASDAQ Private Market connects companies with a global community of investors and provides an integrated equity solution for managing everything from cap table management to stock plan administration.

• SecondMarket (NY based broker-dealer) was acquired in Q1 2016.

• In CY2019, facilitated 87 private company-sponsored secondary transactions – a new annual record high – with total transaction value of US$4.8B.

• Estimated Metrics:• Employees = 139• Total Turnover = US$24B• Est 2018 Revenues = US$61M• Est Valuation = US$1B+• Total Funding Raised =

US$30M+• Revenue/Employee =

US$440,000• Valuation/Revenue = 16x

USA Competitors26

No Australian Competitor but some not-dissimilar USA offerings

• EquityZen sources deals from private companies and markets them at specific price offerings to investors.

• EquityZen acts as broker in arranging transactions and charges commissions of 3% to 5% that depend on the size of the transaction.

• EquityZen has closed over 4,750 transactions since 2013.

• Estimated Metrics • Employees = 50• Est. Total Turnover =

US$500M • Est 2018 Revenues = US$6M• Est Valuation = US$50M-

US$100M• Total Funding Raised =

US$12.5M• Revenue/Employee =

US$120,000• Valuation/Revenue = 12.5x

• SharesPost, founded in 2009, is oneof the oldest private-companymarketplaces.

• SharesPost functions as an over-the-counter marketplace and employsprivate securities specialists to helpnavigate company restrictions onthe sale of stock, including any right-of-first refusal on tendered shares. ,

• SharesPost facilitates directinvestment into late-stage venture-backed companies through itsSharesPost 100 closed-end fund.

• Estimated Metrics• Employees = 110• Total Turnover = US$4B• Est 2018 Revenues = US$73M• Est Valuation = US$750M+ • Total Funding Raised = US$23M• Revenue/Employee = US$660,000• Valuation/Revenue= 10.3x

• Carta (USA) announced that it closed a US$300M Series E (US$1.7B Valuation).

• The new capital comes quickly after the firm’s series D in Dec 2018 which totalled US$80M (US$800M valuation).

• Carta is a SEC-registered transfer agent for private companies that enables seed-stage to pre-IPO companies to manage equity electronically with the participation of their shareholders, employees, auditors, and legal counsel.

• It digitizes paper stock certificates along with stock options, warrants, and derivatives to create a real-time image of who owns what at a start-up.

Merged 20 May 2020

Strictly Confidential

USA Private Markets sector is now highly active with secondary trading and M&A activity, consolidation of leading broker-dealersat significant valuations.

Comparative USA Values27

* On 12 May 2020 Forge agreed to acquire SharesPost via cash/scrip offer with Forge valued @ US$160M.

Company Employees

Est Revenue(2018)

Revenue / Employee

Total Funding Est. ValuationValuation/Rev

US$M US$ US$M US$M

NASDAQ Private Market 139 $61.2 $440,288 $200 $1,000 16.3

MERGED

MAY 2020

SharesPost * 110 $72.9 $662,727 $28 $160 10.3

Forge Global * 62 $5.6 $90,323 $89 $200 35.7

EquityZen 50 $6.0 $120,000 $13 $75 12.5

Carta 600 $55.0 $92,000 $443 $1,700 30.9

PrimaryMarkets 7 $1.1 $150,571 $3.0 $9 8.8

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Controls for Fraudulent Transactions28

Accredited Investor Status Confirmation AML/KYC/CTF Confirmation of Ownership of Securities – Cap Table Input

Sell-Side Investors for Secondary Trading

Only Investors who have been fully onboarded (complying with each relevant jurisdiction) are permitted to offer securities for sale.

Only Investors who have been fully onboarded (complying with each relevant jurisdiction) are permitted to offer securities for sale.

Confirmation required as to ownership of existing securities include type, number, exact name of holder with account designation, address, contact name and details.

Buy-Side Investors for Secondary Trading

Only Investors who have been fully onboarded (complying with each relevant jurisdiction) are permitted to bid for securities.

Only Investors who have been fully onboarded (complying with each relevant jurisdiction) are permitted to bid for securities.

Buy-Side Investors must provide prior to bidding exact name of holder with account designation, address, contact name and details.

Issuers with Private Trading Hubs

N/A N/A • PrimaryMarkets obtains full Cap Table from issuer containing full details including type, number, exact name of holder with account designation, address, contact name and details.

• Enables direct confirmation of Sell-Side ownership.

Issuers who do NOT have Private Trading Hubs

N/A Only Issuers who have been fully onboarded (complying with each relevant jurisdiction) are permitted to have their securities offered for sale.

PrimaryMarkets obtains written/email confirmation of Sell-Side ownership of existing securities include type, number, exact name of holder with account designation, address, contact name and details.

New Equity Raising by Issuers on Platform

Only Investors who have been fully onboarded (complying with each relevant jurisdiction) are permitted to bid for new securities offered by Issuers.

Only Issuers who have been fully onboarded (complying with each relevant jurisdiction) are permitted to have their securities offered for sale.

PrimaryMarkets uses best endeavours to get all bids participating in bookbuild of new offer.

Strictly Confidential

29

Contact Us

Address: Level 16

56 Pitt Street

SYDNEY NSW 2000

AUSTRALIA

Phone: +61 2 9993 4475

Email: info@primarymarkets.com

Web: www.primarymarkets.com

Gavin Solomon – Founder & Executive Chairmangs@primarymarkets.com (m) +61 412 978777

James Green – MD/CEO jg@primarymarkets.com (m) +61 406 429 588

David Sarkis – Executive Director (elect)dnsarkis@gmail.com (m) +61 404 938 016

Rodney Payne – Executive (elect)rodney@rodneypayne.com.au (m) +61 421 093 093