Tesserent Limited Annual Report 2021

$67.4m Statutory Revenue $4.9m Normalised NPAT 1 $96.7m Turnover +372% $9.6m Normalised EBITDA 2 Annual Report 2021 Tesserent Ltd 2 Chairman and Co-CEOs’ Letter Dear Fellow Shareholders, We are pleased to present the 2021 Annual Report for Tesserent Limited (ASX:TNT) (‘the Company’) that looks back on a year that represented significant growth for the Group as the Board successfully executed its strategy to strengthen its core Cyber 360 capabilities. During the year, the business completed and successfully integrated the acquisition of six complementary businesses and expanded its product and critical service offerings to its clients. During the year ended 30 June 2021, the Group reported total sales turnover of $96.7m and statutory revenue of $67.4m (compared to $20.2m statutory revenue in FY20). In addition, the normalised EBITDA 2 result of $9.6m for FY21 represents a significant turnaround from last year’s FY20 comparative results (FY20 normalised EBITDA loss of $2.8m). Pleasingly, the Group’s financial results have improved progressively throughout the year culminating in a fourth quarter turnover result of $39.2m. This also supports the business comfortably exceeding its annualised turnover run rate ambition of $150m. The Group has achieved a normalised net profit (NPAT) of $4.9m 1 excluding acquisition related costs and non-operating share-based costs. The Group’s exceptional growth was achieved both organically, through its execution of the Cyber 360 go-to-market strategy, and through successful completion and integration of six acquisitions – with the acquired businesses adding public and private sector consulting services, managed services, specialised product expertise, plus cloud, defend and detect services to the Tesserent offering. 1 Statutory reported net loss of $4.5m is adjusted for one-off acquisition related costs and non-operating share based costs. 2 Normalised EBITDA excludes acquisition related costs and non- operating share based costs Geoff Lord Julian Challingsworth Kurt Hansen