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Quarterly Update – period ending 30 September 2021

28 Oct 2021

Highlights

• First purchase order for the new Senoa range – 5,000 devices to GSM Electrical
• $300,000+ device order from new integration partner, Polyaire
• Commencement of order fulfillment and revenue recognised
• Successful placement to new and existing sophisticated and institutional investors: Tranche 1 settled before the quarter end with Tranche 2 settling afterwards. Both improve the cash balance and lengthen the growth runway.

Zimi CEO Brett Savill commented “This has been an important quarter for the company. We have begun delivering on our major orders notwithstanding COVID. We have signed up the first integration partner in Polyaire, one of the country’s leading air conditioning suppliers. Finally, a very successful capital raise gives us the funding to accelerate our growth strategy.

At 30 September 2021, the Company is delivering the 30,000 device orders representing sales in excess of $1.7m for the calendar year. The customers who have placed these orders are Beacon Lighting Group (“Beacon Lighting”) (ASX:BLX), GSM Electrical (“Trader”), Steel-Line Garage Doors (“Steel-Line”) and Polyaire.

The Company received customer receipts in excess of $0.48M relating to these sales and expects to recognise the majority of revenue in the first half of financial year ending 30 June 2022, in line with the delivery of the devices.

There are now over 10,000 devices paired on the Zimi cloud and the rate of pairing will increase as new products and distributors are added.

Click here to read the official ASX announcement & Appendix 4C.

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