HARVEST – ACTIVITY REPORT – MARCH QUARTER 2022

KEY HIGHLIGHTS DURING THE QUARTER
• The Company’s Infinity product line generated 71.4% higher Monthly Recurring Revenue (MRR)
in March 2022 ($212K) compared to three months earlier in December 2021, remaining on target
to achieve forecast $300K-$350K MRR by June 2022.
• HTG signs Master Services Agreement with Inmarsat to join its new maritime initiative as a
Certified Application Provider. Inmarsat is the world-leader in communications at sea with over
45,000 connected vessels across the globe.
• Marlink, the world’s leading provider of end-to-end management smart networks solutions, signed
a global reseller agreement to resell Harvest Technology’s Infinity suite of products to its
customers.
• HTG’s proprietary remote inspection system RiS™ was released from exclusivity and launched
into the global market at Oceanology International on March 15, 2022.
• HTG completed a placement of $6.78M (before costs) with strong support from existing investors,
family offices and sophisticated investors with net proceeds from the placement ensuring that
Harvest is well capitalised to accelerate its global growth strategy.
• With a background of 30 years of financial and commercial experience, Craig Byron transitioned
into the role of the Group’s CFO.
• Establishment of a UK sales branch to support sales activities across the UK, Europe, Middle East,
and Africa regions.
• The Company had cash at bank of $6.945m at March 31, 2022.