Achieving 96% revenue growth in the first half and recording positive operating cashflows

1H23 BUSINESS HIGHLIGHTS:

• 2Q23 revenues of $5.2 million1, up 74% on the previous corresponding period (pcp)
• 1H23 revenues of $9.0 million1, up 96% on the pcp
• Positive cash flows from operating activities for 2Q23 of $0.39 million1
• Connected devices at 31 December 2022 were 361,345, up 100% on the pcp
• Enterprise/government customers increased to 58, up 38% on the pcp

Australian Internet of Things (IoT) technology company X2M Connect Limited (ASX:X2M) (“X2M”) is pleased to provide its Quarterly Activity Report and Appendix 4C for the period ended 31 December 2022 (1H23).

For additional detail please refer to the Shareholder Update released with this Announcement: December Quarterly Report 2022