Quarterly Activities Report & Appendix 4C

• Strong quarterly cash receipts of $1.89 million, 28% higher than prior corresponding period
• Record annualised recurring revenue (ARR) of $7.8 million, 79% higher than at 31 December 2023
• Significant expansion in sports betting sector with new and renewal contracts, including LeoVegas, FanDuel, and Bally's

Adveritas Limited (ASX: AV1) has reported its results for the December 2024 quarter, highlighting strong performance across key metrics. The company recorded quarterly cash receipts of $1.89 million, 28% higher than the prior corresponding period, demonstrating growth in its customer base. Annualised recurring revenue (ARR) reached a record $7.8 million, approximately 79% higher than at 31 December 2023, driven by expansion in the sports betting and online gaming vertical. This included new and renewal contracts with influential organisations such as LeoVegas, FanDuel, and Bally's, whose combined annual contract values amount to approximately $1.1 million. The high-growth sports betting sector remains a key focus for Adveritas, with the company identifying significant untapped opportunity in this market. In addition to its sports betting success, the company has commenced multiple trials for eCommerce organisations in the United States and the United Kingdom, and is in final legal negotiations with major agencies across multiple jurisdictions to be the preferred vendor of anti-fraud services. These agency partnerships present substantial opportunities to drive revenue growth once executed. The company is strongly focused on its strategic objectives, including expanding its share in the global sports betting market, securing entry into the eCommerce sector, and entering long-term strategic partnerships with agencies to broaden its market reach. Negotiations currently underway span multiple verticals, including sports betting, eCommerce, and agency deals, positioning Adveritas for scalable growth and a strong March 2025 quarter.

The company expects to deliver record quarterly receipts and revenue in the March 2025 quarter, underpinned by a number of multi-year contracts as well as revenue from new eCommerce clients and agencies.

Adveritas is strongly focused on expanding its share in the global sports betting market, securing entry into the eCommerce sector, and entering long-term strategic partnerships with agencies to broaden its market reach. The company is well-positioned for scalable growth, with negotiations currently underway spanning multiple verticals, including sports betting, eCommerce, and agency deals.