SEEEN FY23 Trading Update

Financial Highlights

• Total Group FY23 revenue expected to be $2.1m (FY22: $3.3m).

• 37% of revenue was technology-related (FY22: 30%)

• Recurring technology revenues of more than $0.2m (FY22: $0.1m)

• Increased its customer base to 40 (2022: 21)

• New customers are in growing vertical markets such as sports and services, e-commerce applications and publishing

• Expanded Gross Margin above 20% (FY22: 15.2%)

• Reflecting improving technology-led and higher margin CSP sales mix

• Reduced Adj. EBITDA loss c.$0.6m (FY22: loss of $0.8m)

• Cash, as at 31st Dec 2023, of $1.2m

• one-off development costs of CreatorSuite 2.0

• Successfully completed a fundraising in December 2022

Operating highlights

• Released two new products in 2023

• Leveraging their proprietary AI-led technology

• Michael Zigman is proposed to be appointed to the Board as an independent non-executive director, replacing Akiko Mikumo.

Market Intelligence

• First mover advantage in the AI-led video e-commerce space

• Strong balance sheet at the end of FY23

• Creator Suite2.0 well received by beta customers:

• Doubling of Purchase Conversions:

• Click through Rates of up to 25%

• CAC down 67% in PPC Campaigns

• Opportunity to add a new revenue stream for publishers leveraging the same video library by combining advertising with SVPs to drive sales

• Integration of Key Video Moments with CRM systems to automate e-commerce

• Strong balance sheet at the end of FY23

• Deep and broad sales pipeline for FY24

• Targeting cash flow breakeven in FY24