Announcement PDF 8th September 2020 Xref Announces Notable New Client Wins Across All Sales Channels ● ● ● Four notable client wins across US, UAE, AU and NZ during July and August FY21 Xref Lite, channel partnerships and direct sales all contribute to client acquisition Multi-region, multi-language, global support, ATS integrations and unified checks continue to drive demand Xref Limited (ASX:XF1), ​the human resources technology company, today provides details of notable clients secured during July and August 2020. Xref’s business development strategy for the acquisition of new clients has four elements ● direct enterprise sales using in-house business development teams; ● referrals from integrated applicant tracking systems partners, such as Oracle, Workday, Bullhorn, LinkedIn and SmartRecruiters, and other background checking partners, including CVCheck, Checkr, and UCheck; ● digital marketing, driving online customers to Xref’s 100% self-serve platform, Xref Lite; and ● a network effect, generated by growing awareness of Xref as thousands of new referees and candidates use the platform all over the world on a weekly basis. In July and August, Xref’s enterprise sales teams directly secured the business of major health services providers, ​Mubadala Healthcare in the United Arab Emirates, ​Ramsay Health Care in Australia and IHC Group​ in New Zealand. The organisations collectively employ +180,000 staff across 50 countries. Together with a highly valued channel partner, Xref also welcomes the ​Lawrence Livermore National Laboratory ​(​LLNL​) as a notable new client. Based in California, United States, LLNL employs 8,000 staff. Xref Lite is the self-serve version of Xref’s standard enterprise platform. It provides small companies with access to enterprise-level technology. It also serves as a good, low friction test environment for large prospective enterprise clients. As an example, ​Airwallex​, the Melbourne fintech startup, independently found and configured Xref Lite and has since realised a significant return on investment from the self-serve platform. Detailed company information about each of these new clients can be found below​. Management Comments Executive director / CEO Lee-Martin Seymour said: ​“As we prepare for the ‘New Normal’ post COVID-19, global employers are seeking new ways to verify prospective employees. The demand for one platform for all reference, ID and criminal checks is growing and vendors must be able to offer multiple languages, data regions, rich recruitment system integrations and 24-hour global support. These recent client wins are testament to Xref’s ability to service global recruitment requirements and at scale. ” Executive director / CSO Tim Griffiths said: ​“Despite the pressures of the global pandemic, it has been great to witness all the key components of our client acquisition strategy working together to drive growth. Xref offers best-in-breed technology, backed by a winning team. We win new business not just because of what we can do but the credibility that has come from our unwavering client support over the last ten years,” Investor and media enquiries: Presentation: x ​ f1.com Investor Centre: ​xref.com/en/investor-centre Twitter: @ ​ xf1 Email: i​ nvestors@xf1.com Authorised by the Board of Directors of Xref Limited (ASX : XF1) Xref Limited, Suite 17, 13 Hickson Road, Dawes Point, Sydney NSW 2000 Australia Key points about Xref First mover advantage Xref provided the first automated solution for the candidate referencing process and it is capitalising on its first-mover advantage by focusing on and investing for international growth. Business model Under Xref’s business model, when clients purchase credits (credit sales) to use the candidate referencing platform, the value of their purchases is recognised as unearned income. When they pay for the credits, the cash is recognised as cash receipts. Once the credits are used by the client (usage), Xref recognises the value of the credits used as revenue (recognised revenue). Global addressable market Xref’s addressable market includes more than 180 million employees in North America, 120 million employees in Europe and 15 million employees in Australia and New Zealand. Client Details Mubadala Healthcare - UAE Mubadala is the force behind some of the best healthcare companies in the UAE, including the Cleveland Clinic Abu Dhabi, Wooridul Spine Centre and the ICLDC. Mubadala’s seven healthcare facilities offer more than 60 medical and surgical specialisations, supporting the development of a world-class, commercially sustainable private healthcare sector in the UAE. Health is one of twelve divisions of global investment company Mubadala. ‘In total, the group employs 100,000 staff, manages $260 billion of assets across 50 countries and generates $53 billion in revenue per year. The Canadian Xref sales team was responsible for winning the client and as a global business it will be supported by our APAC, EMEA and North American customer success teams. Ramsay Healthcare Limited - Australia Ramsay Healthcare delivers a range of acute and primary healthcare services from 480 facilities across 11 countries, making it one of the largest and most diverse private healthcare companies in the world. Ramsay facilities cater for a broad range of health care needs from primary care to highly complex surgery, as well mental health care and rehabilitation. The company employs more than 77,000 staff and treats 8.5 million patients in its hospitals and primary care clinics located in Australia, France, the United Kingdom, Sweden, Norway, Denmark, Germany, Italy, Malaysia, Indonesia and Hong Kong. IHC Group - New Zealand IHC is New Zealand’s largest provider of services to people with intellectual disabilities and their families. It was founded in 1949 by a small group of parents who wanted equal treatment from the education and health systems for their children with intellectual disabilities. IHC employs around 4,500 staff and directly supports approximately 4,000 people with intellectual disabilities around New Zealand through core funded services. Lawrence Livermore National Laboratory - California, United States LLNL is a premier research and development institution for science and technology applied to national security. Its principal responsibility is ensuring the safety, security and reliability of the ​nation's nuclear weapons through the application of advanced science, engineering, and technology. The laboratory also applies its special expertise and multidisciplinary capabilities towards preventing the proliferation and use of ​weapons of mass destruction​, bolstering homeland security, and solving other nationally important problems, including energy and environmental needs, scientific research and outreach, and economic competitiveness. LLNL employs 8,000 staff across a 7,700 acre campus in Livermore, California. LLNL was won as a result of the Xref Channel partnerships held across the US. Airwallex - Australia Airwallex delivers a better way to make global payments by offering businesses a smart cross-border payment technology platform. Airwallex currently employs more than 400 staff across 10 offices globally.