THE DIGITAL HEALTH AND FITNESS BUSINESS

VOLUTION ACQUISITION - INVESTOR OVERVIEW

NSX RELEASE – FRIDAY 4th DECEMBER 2020
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THE ACQUISITION OF VOLUTION BY OLIVEX

As foreshadowed in our NSX Release dated 2nd of December 20202, the OliveX Board is delighted to
announce that on the 3rd of December 2020, OliveX completed the acquisition of the assets of UK-based
Anorton Holdings Limited, trading as Volution.

We are pleased to share the following Investor Presentation to showcase the business, and the strategic
and accretive nature of the acquisition in more detail.
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WE ARE
HEALTH
TECHNOLOGY
FITNESS
CONTENT
SOCIAL
INTERACTIVE
GAMING
PRODUCT
BRAND EXPERIENCE
DATA
FITNESS THAT FITS
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OUR STRATEGY
DEMOCRATISE FITNESS
Create premium fitness content experiences that link trainers to users globally, and lets them
choose any workout - any time, anywhere

PROVIDE THE THIRD SCREEN IN EVERY HOME

The KARA Mirror and Apps create daily connections to highly engaged global fitness users,
creating a new high-value marketing platform for brands

OFFER BUSINESSES NEW WAYS TO PROVIDE WELLNESS

Provide hotel operators and property developers personalised health and fitness solutions in
customers’ rooms, extending brand reach and enabling new revenue streams

PARTNER WITH FITNESS BRANDS TO DELIVER VIRTUAL SERVICES

Extend traditional “bricks and mortar” gyms to members’ homes with premium branded content
delivered through OliveX

ACCELERATE REACH AND SERVICES THROUGH ACQUISITIONS

Open new product audiences and fast-track developments by looking at synergistic businesses
with existing revenue and customer bases

PARTNER TO OPEN NEW MARKETS FASTER

Work with partners to open new markets by leveraging their local knowledge, resources and
capital to accelerate and de-risk expansion
CONNECTING PEOPLE TO BRANDS THROUGH
DIGITAL FITNESS TECHNOLOGY
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OLIVEX NSX TRADING HISTORY
$0.60

o OLIVEX IS PUBLICLY LISTED ON THE NSX

Listed as NSX:OLX on the NSX, an Australian stock exchange
$0.40

o LAST TRADED SHARE PRICE A$0.461

37,444,931 Ordinary shares originally listed at A$0.20 on 24th August 2020 $0.20

o INDICATIVE MARKET CAPITALISATION A$17M

Market capitalisation has grown by 130% since listing $0.00
23. Aug 06. Sep 20. Sep 04. Oct 18. Oct 01. Nov 15. Nov 29. Nov
1 as at 3rd December 2020.

BOARD OF DIRECTORS

SONNY VU YAT SIU KEITH RUMJAHN XAVIER KRIS JOHN BELL

Non-Executive Chairman Non-Executive Director Managing Director and CEO Executive Director Chief Financial Officer
Original founder of Misfit, acquired Founding CEO of Outblaze Limited Following the successful launch of Former MD and Chair of Swift Media, A seasoned executive with multi-
by Fossil Group for US$260m. Sonny and Founder & Chair of Animoca Coachbase App, (acquired by Animoca focused on media, tech and telecoms, jurisdictional experience, including
has extensive experience and Brands, the original parent of OliveX. Brands), Keith launched OliveX and in turn specialising in business expansion through as Director and CFO of ASX listed
connections in the fitness technology Immense expertise in digital media KARA after recognising the potential for M&A. Leads OliveX’s M&A strategy and businesses.
industry to drive OliveX. and gaming. smart home fitness devices. execution.
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• HEALTH
• TECHNOLOGY
• FITNESS
• CONTENT
• SOCIAL
• INTERACTIVE
• PRODUCT
• BRAND EXPERIENCE
• DATA

Significant Strategic Overlap with OliveX.

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VOLUTION SNAPSHOT
PRODUCTS

CONTRACTS MARKET POTENTIAL TEAM OLIVEX RE-USE

• Virtual Training
• Live Classes
• Custom Workouts
5,000+ GYMS A team of 9 UK staff, led by

256 gyms
Andy Hall, (previously of Les
Virtual Hub product, can be
Addressable market of Mills) including 7 software and
immediately leveraged by KARA
product resources
>50,000 gyms
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VOLUTION STRATEGY
INCREASE GYM PROFITS BY FOCUSING ON THEIR DATA
Gyms are driven to reduce member churn, increase revenue and streamline processes but
they are held back by scattered technology and limited foresight. Volution’s strategy is to
solve this problem by unlocking the power of their data

CENTRALISE DATA IN ONE PLACE

Focus on integrating to each key data platform, so they can provide the singular view of data
for each customer. i.e. be the glue that makes the data useful and moves them from many
platforms to just a few, in time, just Volution

START SMALL BUT KEEP ADDING MORE

Once the data is centralised, Volution then offer new services through modularised software
that further embed the client in the Volution ecosystem and generate additional revenue

BUILD ONCE, THEN SCALE THROUGH LARGE GROUPS

Custom dashboards and apps are highly desirable by large gym groups. Equally, once built
are very easy to sell to the rest of the group and highly sticky as they are purpose built.
Leads to reduce cost of sale and very high retention rates

SCALE PROFITABILITY THROUGH SUBSCRIPTIONS

Strategy of offering software modules at incremental subscription fees to grow client revenue
over the term and increase profitability through economies of scale
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ACQUISITION OVERVIEW
OLIVEX HAVE BEEN MONITORING VOLUTION FOR SOME TIME
Active conversations regarding collaboration and partnership potential have been on-going for
several months allowing us to act very swiftly and with high confidence on short notice

ACQUIRING ALL BUSINESS ASSETS

Offer grants ownership to all software, websites, servers, marketing, trademarks, business
systems and processes

ESTABLISHING A UK ENTITY TO INTEGRATE THE TEAM

OliveX is establishing a UK entity (OliveX (UK)) to operate the business and to employ the
local team of nine (9) resources

SALE INCLUDES EXISTING MONTHLY REVENUES OF £20,000

Agreement includes the novation of existing Anytime Fitness Philippines and Fitness World
contracts, subject to third party approvals

OLIVEX WILL SAVE BY RE-PURPOSING SOME OF THE SOFTWARE

KARA will integrate the Virtual Hub software to fast-track features and reduce the cost of
development for the business

TOTAL COST OF ACQUISTION

OliveX has acquired all business assets from Volution for £190,000 in a 100% cash
transaction from existing capital reserves
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KEY ACQUISITION TERMS
PURCHASE PRICE GBP190,000 (~A$345,000) in cash.

Volution's goodwill.
ACQUISITION ASSETS •
• Subject to third party consents, Volution's existing contracts with customers (by way of assignment / novation), including:
 Anytime Fitness Philippines; and
 Fitness World.
• Subject to third party consents, Volution's existing hosting contracts to operate its business (by way of assignment / novation).
• Subject to third party consents, Volution's existing lease in London (by way of assignment / novation).
• Volution's software modules, executables, source code, products and developments, launched, in development or already developed with
respect to its business including the following modules:
 Data Dashboard and Insights;
 The Virtual Solution;
 Lead Management;
 Complete CRM/ERM; and
• third party API development for Fitness World.
• Volution's hosting, process, customer and sales data.
• Volution's trademarks, websites, brand and marketing collateral.
• Volution's other intellectual property.

OliveX will ensure payment of any unpaid salaries to the existing staff for up to 2 months of their salaries.
STAFF •
• OliveX will employee existing staff on materially similar terms to their existing contracts.
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ACQUISITION SYNERGIES & BENEFITS

OLIVEX GROWS HEALTH AND FITNESS CAPABILITIES VOLUTION EMPOWERED TO REALISE ITS POTENTIAL
• Immediate contracts with high value brands already targeted by OliveX • Financial certainty for the staff, customers and prospects
• Significant overlap in target customers and partnerships, enabling sharing • Further investment in the platform and staffing to grow the business in line with
of sales and marketing resources agreed strategic goals
• Software IP that accelerates and enhances the development of KARA's • Access to additional senior sales and marketing resources of OliveX to help in
content management system the development of Asia Pacific sales and partnership opportunities
• Additional software, product and sales resources added to the team • Addition of KARA Mirror as an additional product to offer existing and potential
clients
• Leverage existing relationships in target health and fitness businesses to
open doors for sales and partnerships • Reduce cost of acquisition of new customer targets by leveraging shared
resources (both pre and post sales)
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SUMMARY
• Acquiring Volution is another step forward in OliveX’s strategy to grow as a digital health
and fitness business globally
• Builds on core OliveX strategy to focus on subscription revenues in health & fitness
• Significant overlap in segments and target customers enabling resource pooling to
reduce cost of customer acquisition
• Immediate revenue with significant potential for future growth from minimal investment
• Access to software that fast-tracks committed features and saves on development time
and money for KARA
• Low cost of acquisition with very short payback period based on software re-use,
existing contracts and pipeline potential
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Forward-looking statements disclosure

This press release contains forward-looking statements or forward-looking information, within the meaning of applicable securities laws with respect to OliveX Holdings Limited ACN 631 675 986
(the Company). By their nature, forward-looking statements are subject to a variety of factors that could cause actual results to differ materially from the results suggested by the forward-looking
statements. Accordingly, readers should not place undue reliance on the forward-looking statements.

Forward-looking information contained in this press release is based on Company management’s opinions, estimates and assumptions in light of its experience and perception of historical trends,
current conditions and expected future developments as well as other factors that management currently believes are appropriate and reasonable in the circumstances. Forward-looking statements
involve significant risks, uncertainties and assumptions, and there can be no assurance that such statements, underlying risks, uncertainties and assumptions will prove to be accurate. Factors that
could cause actual results or events to differ materially include, without limitation, risks related to laws, rules and regulation applicable to the Company as well as the industry in which it operates
(including in respect of taxes and other levies), economic or market conditions on both a national and global level, currency fluctuations, risks inherent to other entities at a similar stage of
development and industry in which the Company currently is, competition from the Company’s competitors, unsatisfactory development or marketing of the Company and/or its products or services,
regulatory action or litigation (including product liability claims), and failure to enter into agreements or arrangements with other parties on fair or reasonable terms. Forward-looking information is
made only as of the date on which it is provided and, except as may be required by applicable laws, the Company disclaims any intent or obligation to update such forward-looking information
whether as a result of new information, future events or otherwise.