Integrity/Innovation/Inspiration/Information

SmartTransHoldingsLimitedASX:SMA

AnAustralianbasedTechnologySolutionsCompany

CorporateStructure:

Sharesonissue: 2215M

UnlistedOptions: 166MMarketCap:$AUD62M

52weekhigh: 7.1cents52weeklow: 2.2cents

Directors:

MrMarkVaileAO

Non-ExecutiveChairman

MrBryanCarrCEO&ManagingDirector

MrAndrewForsyth

Non-ExecutiveDirector

MrYui(Ian)TangNon-ExecutiveDirector

MrGregSimpson

Non-ExecutiveDirector

MrIanHawkinsExecutiveDirector

MelbourneOffice:

Level1,10QueensRoadMelbourneVIC3004Australia

BeijingOffice:

Room101Building22Courtyard4GongTiBeiLuChaoyangDistrict

Beijing100027PRChina

Phone(Aus):+61(03)98667333

Phone(China):

+86(10)65000910

Website:www.smarttransholdings.com.au

Twitter:

www.twitter.com/SmartTrans_SMA

Youtube:https://youtu.be/-1t_yJe1DBA

QuarterlyReportfortheperiodended30thSeptember2016

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Highlights

• Revenue of $1.1 million (down from previous Quarter) as strategy of transitioning from high-volume, low margin to lower volume but higher margin revenue streams successfullyimplemented

• GrossProfiton3rdPartyAppsincreasesfrom2%-3%toover20%• ContinuedinvestmentinSubscriptionrevenuebasetogrowfuturerevenueandprofitability• Thechangeinrevenuecompositionhassignificantlyloweredthecompany’srevenuethresholdfor

profitability• Companybuildingupitse-Commerceservicesandcapabilities• e-CommerceservicesandpartnershipslaunchedinChina• SmartTrans’ logisticssoftwareshowcasedattheITSWorldCongressandhostedvisitorsfromITS

ChinaandtheChinaAutomotiveTechnologyandResearchCenter(CATARC)

FINANCIALPERFORMANCEFORTHEQUARTERENDED30June2016

ASX-listedsmartphonepaymentsproviderandlogisticssoftwarecompanySmartTransHoldingsLimited(ASX:SMA)providesthefollowingupdateforthequarterended30September2016.

CarrierBilling

Thecompanyoperatestwoformsofcarrierbillingbusiness–3rd-PartyAppsalesandSubscriptionbillingforproductsdeliveredeachmonthtoconsumer’sphones.

Overthecourseofthelastsixmonths,thecompanyhastransitionedfromlowmargintohighermargin3rdPartyApps,commencedbuildingupitse-Commerceservices,establishedrelationshipswithkeypartnersandsoughttocapitalizeonitscustomerdatabase.

Apre-requisiteforthecompanybeingabletodothis,however,wastobuildupasignificantdatabaseofmobilephonesubscriberstowhichtomarketitsgrowingrangeofproductsandservices.

The company’s previous strategy of maximizing revenue has achieved its objective of building up thissubstantial database of customers and the company is now well placed to exploit that database byswitchingitsfocustohighermarginproducts.

ThecompanyhasalsocontinuedinvestmentinitsSubscriptionbillingproductstodeliverfuturerevenuestreamsandhigherreturnoninvestmentandhasalsoadjusteditsmixofproductsinresponsetochangingcustomeracquisitioncosts.

The company has passed 6 million customers which have contributed to its revenue base and ingenerating this critical mass of subscribers and processed payments, the company was able to gatheranalyticaldatafromSmartPayonconsumerspendinghabitsandtrends.

This proprietary data unlocks significant revenue potential and having spent 2 years developing thisdatabase,thecompanyisnowinapositiontoexploititmoreeffectively.

Inthe2ndhalfofFY16thecompanysoughttoincreasemarginsandwillcontinuetopursuethisobjectiveinFY17.Thecompanyhaschosenapathtoachieveprofitabilitybuiltonmuchlowerlevelsofrevenuebutatsignificantlyhighermargins.

Althoughsomewhatlumpy,thesplitofexpenditureandrevenuefor3rdPartyAppandSubscriptionbillingandassociatedprofitabilitycanbeseeninthechartsbelow.

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Figure1:3rd-PartyAppRevenueandGrossProfitbyQuarterFY2016andQ12017

Thecompanyproposestocontinueits investmentinsubscriptionbillingbalancedwithhighermargin3rdPartyApps.With3rdPartyAppGrossProfitmarginincreasingfrom2-3%inFY16toover20%inQ12017,thecompanyremainscommittedtogrowingthisbusinessandcontinuingtoinvestwhereappropriate.

ItshouldbenotedthatexpenditureonSubscriptionproducts inaquartergeneratesongoingrevenueinthequartersthatfollowfornoadditionalmarketingcost.

The following graph shows themarketing expenditure, the revenueand the cumulative gross profit forsubscriptionbillingfromQ12016untilQ12017

Figure2:SubscriptionRevenue,ExpenseandGrossProfitbyQuarterFY2016andQ12017

ThecompanytailorsitsmarketingexpenditureinaparticularQuartertothemarketconditionsprevailingatthetimewiththeconsequencethatmarketingexpenditurecanbesomewhatlumpy.

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Q12016 Q22016 Q32016 Q42016 Q12017

3rdPartyAppRevenue&GrossProfitbyQuarter

3rdPartyAppRevenue GrossProfit

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Q12016 Q22016 Q32016 Q42016 Q12017

Subscription Revenue,Expense&CumulativeProfitbyQuarterFY2016- Q12017

SubscriptionRevenue SubscriptionExpense CumulativeP/L

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WorkingCapital

Thecompanyhasmadechangestoitsproductmixdesignedtoimproveitsworkingcapitaloverthecourseof FY17. e-Commerce billing and receipts occur as sales are processed. Lotteries services revenue andreceiptsareprocessedandpaidmonthly.

Asthesebusinessesgrowinsize,itisanticipatedthatthecompany’slevelofworkingcapitalwillimproveandimportantly,allowforabetterandmoretimelyallocationofcapitaltoopportunitiesastheyarise.

IntheCarrierBillingbusinessinChina,thereisupto6-monthorgreaterdelayincollectionofreceivablesandthisdelayhasplacedpressureonthecompany’sworkingcapital.

Furthermore,asthecompanylookstocontinueinvestinginSubscriptionbilling,greaterupfrontspendisrequired (vis-a-vis 3rd Party Apps) but this should lead to greater annuity-style income streams, morepredictablecashflowsandsuperiorReturnonInvestment.

We believe the company’s mix of e-Commerce and services to the Lotteries sector, with better cash-paymentterms,will,overthe2ndhalfofFY2017,beabletocomplementthesubscriptionbillingbusinessandaddsignificantlytotheopportunitiesinthatspace.

BalanceSheet

Thecompanyhasinvestedasignificantamountofmoneyintothebusinessoverthepast12monthsandthereturnsonthose investmentshaveonly juststartedtooccur.Forexample,asubstantialpartof thecompany’sforecastSubscriptionBillingRevenuesinFY17willoccurwithlittletonoadditionaloutlay.

Inaddition,thee-CommercebusinessonlybegangeneratingfirstrevenueinthelatterpartofSeptember.Thecompany’sservicestotheLotteriessectorremaininitsinfancybutweareoptimisticitwillbecomeavaluablecontributorovertime.

Asthesebusinessmatureandwiththespendalreadymade,webelievethecompany’sfinancialpositionwillimproveastheyearprogresses.

e-Commerce

BPS/SMAMasterMerchantAgreement

Thecompany isgreatlyencouragedbythesignificant levelsof interest inthispartnership.Aspreviouslyannounced,BPShasmorethan24,000merchantsandhasidentifiedkeySMEsacross4verticals(Health&Wellness, Travel& Tourism, Property, and Education) that it believes have the capacity to export theirproductintotheChinesemarket.

In FY2017 the company is targeting at least 20 high-quality merchants which each produce at least$1millioninannualsalesontheSmartTranse-Commerceplatform.

SmartTransanticipatesthatitwillgenerateadouble-digitpercentagefeeonsalesthroughtheplatform,butthemagnitudeofthefeewilldependonthelevelofservicebeingprovidedtospecificmerchants.Thecompanyalsoanticipatesreceiptoffeesonprocessingpaymentsandcross-bordersettlements.

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Significantly,SmartTrans isgreatlyencouragedbythenumberofSMEsfromoutsideoftheBPSnetworkthathavereportedlyapproachedBPSlookingtogainaccesstoourplatform.

We anticipate continued strong penetration within the BPS network and believe that as the platformimplementationprocess is refined, itwill enablemerchants to access themarketmorequickly andwillmeettheneedsofthegrowingnumberofmerchantseagertosell inthe largeste-Commercemarket intheworld.

SmartTransBroaderPlatform(i.e.ex-BPSMasterMerchantAgreement)

InadditiontothemerchantsoperatingundertheMasterMerchantsAgreementabove,thecompanyisintheprocessofaddinganumberofmerchantsthatthecompanyseesashavingsignificantsellingpotentialintoChinaandweanticipatebeingabletogeneratemeaningfulrevenuesovertime.Asabove,SmartTranswillcollectadouble-digitpercentagefeeonsalesgenerated,butthemagnitudeofthefeewilldependonthelevelofservicebeingprovided.

The company has previously explained its arrangements with Blooms, Tim Adams, Olive Oil SkincareCompany, Soapnut Republic and has now added Burlee. These companies represent samples of theindustries being targeted and we are experiencing a high level of incoming interest from a range ofcompanies.

Webelievethatthisofferingistransformationalforthecompanyandhasthepotentialtobeameaningfulcontributor to revenue and earnings from this quarter onwards and in particular, from the 2nd half ofFY2017.

Broadlyspeaking,thereisnolimittothenumberofmerchantsweareabletohaveontheplatform.Thecompany continues to work closely with its platform partners, including Alibaba, to ensure that highquality,authenticandsuccessfulcompaniesarethemainstay.

Extensiveduediligenceisconductedtoensurethatcompaniesmeetcertainhurdlesandthattheintegrityoftheplatformasapremieraccesspointismaintainedandfostered.Induecourse,weexpectthesignon,implementationandduediligenceprocesstobelargelyautomated,ensuringmerchantshaveasmootherandfasterroutetomarket.

The company has been developing relationships with companies within China with reach to onlinecommunitiesandappropriatecustomerdatabasestomatchwiththeproducts.

Bytheendofthisfinancialyear,thecompanyistargetingtohaveatleast20high-qualitymerchantswhicheachproduceatleast$1millioninannualsalesontheSmartTranse-Commerceplatform.WithSmartTransgeneratingadouble-digitpercentagefeeonsales,thisisaverymeaningfuldevelopmentbutonethatwefeel is only in its infancy. Importantly, this business is expected to produce significantly highermarginswhichshouldallowthecompanytoenterFY18inaverystrongposition.

Lotteries

The return of online lotteries in China is slowly gathering pace with government sanctioned pilotprogrammesunderway,althoughnoofficialwordhasyetbeengivenonanexpectedrelaunch.

Nonetheless,pilotprogrammes,forwhichSmartTranshascontributeditsservices,areoccurringandwebelievethecompanyispositioningitselfwelltoservicethissector.

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Thecompany’sappointmenttotheLotteriesResearchThinkTankinGuangdongfora3-yeartermwasapleasingendorsementofthecompany’spositionandpotentialparticipationinsupportingtheindustry.

Additionally,beingakeyparticipant in the“International Forumon theSocialResponsibilityof Lottery”furthercementedtheviewthatinternationalparticipantshavearoletoplayandthatthecompanyiswellplaced.

Whilstfartooearlytoofferanyguidance,thecompanynotesthatLotterySalesinChinahavegrownatacompounded 33% per annum from 1987 – 2013.1 Despite the significant size of today’s China lotterymarket, the penetration rate of regulated lottery in China remains comparatively low by internationalstandards.

GiventhattheillegalgamblingmarketinChinaisestimatedtobeapproximately10-20timesthatofthelegallotterymarket,thereisenormouspotentialforfuturegrowthinChina’slegallotterymarket.1

AccordingtodatafromCaiTongConsulting2,onlineSportsLotterySalesdoubledin2014,beforetheban,toRmb85bn($A$17bn).WithSmartphonepenetration increasingandamovetotransformillegalsportsbettingintothemainstream,thepotentialgrowthopportunitiesaresignificant.

SmartTransispositioningitselfasaserviceprovidertothoseoperatinginthelotteriessectorandalthoughpremature to offer forecasts, even a fractional penetration of this market will provide a meaningfulcontribution.

SmartTrans is presently negotiating the expansion of its services contractwith its partner Zongguan tobroadenSmartTransinvolvementinservicingandsupportingthissignificantmarketsector.

LogisticsSoftware

The company’s Australian logistics software division, which provides mobile and online software andservices in the transport and logistics area was involved in a number of promotional activities in theQuarteraspartofthecompany’sincreasedsalesandmarketingfocus.

Thecompanyhasbeenexploringinternationalopportunitiesforitsproductsasitlookstodrivegrowthinthisbusinesssegment.

The company attended and exhibited at the ITSWorld Congress (www.itsworldcongress2016.com) andhostedvisitorsfromITSChinaandtheChinaAutomotiveTechnologyandResearchCenter(CATARC)withwhichSmartTranshasdevelopedrelationshipsinChina.

During the congress, SmartTrans showcased its new SmartTrans Express product which is focused onservicing the needs of smaller fleets of vehicles and which is designed for rapid deployment and fastimplementation.

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Figure3:Mobile&InternetLogisticsSoftwareRevenueandGrossProfitbyQuarterFY2016andQ12017

(Note:Q22017wasboostedbyasignificantsalemadeduringthatQuarter.)

SmartTrans at the ITSWorld Congress and SmartTrans’ National Operations Manager, Linus D’Crus,hostingvisitorsfromCATARC(ChinaAutomotiveTechnologyandResearchCenter).

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$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000

Q12016 Q22016 Q32016 Q42016 Q12017

LogisticsRevenue&GrossProfitbyQuarter

LogisticsRevenue GrossProfit

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FY17Outlook

1. Subscription Billing - As alluded to in earlier releases, the company invested significantly in itsSubscriptionbillingbusinessoverthecourseofFY16. Importantly,this investment isexpectedtodeliverthe company revenue in FY17 that comes without any additional direct costs (i.e. ~100% Gross ProfitMargin).

Significantly,webelievethatrecentdealsinvolvingthein-vehicleappandPressPlay’sStephCurryApparean example of the company targeting high quality partners focused on generating high return oninvestment.

2.3rdPartyAppBilling–Thecompanyhasdeliberatelyscaleddownthisbusinessandisnowinapositionto target only those businesses and products that generate meaningful returns. As Q1 2017 showed,althoughrevenuewasmateriallylower,GrossProfitwassubstantiallyhigherandwearetargetingforthebusiness to generate revenue at mid double-digit margins going forward. Importantly, the recurringnature of our subscription billing business means the re-investment opportunities available to thecompanyaregreaternowandwillallowthecompanytobemoreproactiveinselectingpartners.

3. e-Commerce: - In FY2017 the company is targeting at least 40 high-quality merchants which eachproduceatleast$1millioninannualsalesontheSmartTranse-Commerceplatform.Itisimpossibleforthecompany topredict the success of each individualmerchant and somewill provemore successful thanothers.SmartTransexpects togenerateadouble-digitpercentage feeonall sales throughtheplatform,themagnitudeofwhichwilldifferfromcompanytocompany.TheChinae-commercemarketisseasonal,with theupcomingSinglesDayamajor selling season.Given theearly stageof thisbusiness,wewouldexpectrevenueandearningscontributiontobe2ndhalfweightedandforthecompanytoachievegreaterclarity as the year progresses. As the company enters FY18, we are very optimistic about what thisbusinesswillmean.

4.Lotteries:WhilstlargelysubjecttoGovernment-relateddecisionsonthelaunchofonlinelotteries,weexpectcontributionstoincreaseastheyearprogressesandbelievethatevenasmallpenetrationofthisverylargemarketwillrepresentavaluablecontributiontothecompany’sbusiness

The transition to higher margin products is expected to substantially reduce the volume of revenuerequiredforthecompanytoderiveaprofit.

Thecompany’smixofproductsinFY2016was10%Logisticsmobileandinternetsoftware,74%3rdPartyApp billing and 16% Subscription billing whilst in FY2017 the company is targeting for contribution ofrevenue to be more balanced between 3rd Party App billing and Subscription billing with a growingcontributionfrome-Commerceandotherproductsandservices.

The companyhas inparallel beenworking to increase the sales revenue for its logisticsbusinesswhichdeliversgoodgrossprofit.

The company now provides a broad exposure to Chinese consumption and is not dependent on thesuccessofanyoneparticularproduct.

TheBoardbelievesthatthecompanyiswellpositionedtorealisethevalueofitsinvestmentinChinaandwelookforwardtoupdatingshareholdersonallofthesedevelopmentsastheyearprogresses.

1Source:http://www.agtech.com/html/industry_lottery_overview_char.php

2 Source: http://www.scmp.com/business/markets/article/1977977/chinas-sports-lottery-business-see-continued-high-growth-2016

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Appendix 4C Quarterly report for entities subject to Listing Rule 4.7B

+ See chapter 19 for defined terms 1 September 2016 Page 1

+Rule 4.7B

Appendix 4C

Quarterly report for entities subject to Listing Rule 4.7B Introduced 31/03/00 Amended 30/09/01, 24/10/05, 17/12/10, 01/09/16

Name of entity

SmartTrans Holdings Limited

ABN Quarter ended (“current quarter”)

86 009 065 650 30 September 2016

Consolidated statement of cash flows Current quarter $A’000

Year to date (.......months)

$A’000

1. Cash flows from operating activities 1,328 1,328 1.1 Receipts from customers

1.2 Payments for

(a) research and development

(b) product manufacturing and operating costs

(1,173) (1,173)

(c) advertising and marketing

(d) leased assets

(e) staff costs (499) (499)

(f) administration and corporate costs (929) (929)

1.3 Dividends received (see note 3)

1.4 Interest received (2) (2)

1.5 Interest and other costs of finance paid

1.6 Income taxes paid

1.7 Government grants and tax incentives

1.8 Other (provide details if material)

1.9 Net cash from / (used in) operating activities

(1,275) (1,275)

2. Cash flows from investing activities

(7) (7)

2.1 Payments to acquire:

(a) property, plant and equipment

(b) businesses (see item 10)

(c) investments

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+ See chapter 19 for defined terms 1 September 2016 Page 2

Consolidated statement of cash flows Current quarter $A’000

Year to date (.......months)

$A’000 (d) intellectual property

(e) other non-current assets

2.2 Proceeds from disposal of:

(a) property, plant and equipment

(b) businesses (see item 10)

(c) investments

(d) intellectual property

(e) other non-current assets

2.3 Cash flows from loans to other entities

2.4 Dividends received (see note 3)

2.5 Other (provide details if material)

2.6 Net cash from / (used in) investing activities

(7) (7)

3. Cash flows from financing activities 3.1 Proceeds from issues of shares

3.2 Proceeds from issue of convertible notes

3.3 Proceeds from exercise of share options 32 32

3.4 Transaction costs related to issues of shares, convertible notes or options

3.5 Proceeds from borrowings

3.6 Repayment of borrowings

3.7 Transaction costs related to loans and borrowings

3.8 Dividends paid

3.9 Other (provide details if material)

3.10 Net cash from / (used in) financing activities

32 32

4. Net increase / (decrease) in cash and cash equivalents for the period

2,130 2,130 4.1 Cash and cash equivalents at beginning of

quarter/year to date

4.2 Net cash from / (used in) operating activities (item 1.9 above)

(1,275) (1,275)

4.3 Net cash from / (used in) investing activities (item 2.6 above)

(7) (7)

4.4 Net cash from / (used in) financing activities (item 3.10 above)

32 32

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Appendix 4C Quarterly report for entities subject to Listing Rule 4.7B

+ See chapter 19 for defined terms 1 September 2016 Page 3

Consolidated statement of cash flows Current quarter $A’000

Year to date (.......months)

$A’000 4.5 Effect of movement in exchange rates on

cash held

4.6 Cash and cash equivalents at end of quarter

880 880

5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts

Current quarter $A’000

Previous quarter $A’000

5.1 Bank balances 403 835

5.2 Call deposits 477 1,295

5.3 Bank overdrafts

5.4 Other (provide details)

5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above)

880 2,130

6. Payments to directors of the entity and their associates Current quarter $A'000

6.1 Aggregate amount of payments to these parties included in item 1.2 99

6.2 Aggregate amount of cash flow from loans to these parties included in item 2.3

6.3 Include below any explanation necessary to understand the transactions included in items 6.1 and 6.2

7. Payments to related entities of the entity and their associates

Current quarter $A'000

7.1 Aggregate amount of payments to these parties included in item 1.2

7.2 Aggregate amount of cash flow from loans to these parties included in item 2.3

7.3 Include below any explanation necessary to understand the transactions included in items 7.1 and 7.2

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Appendix 4C Quarterly report for entities subject to Listing Rule 4.7B

+ See chapter 19 for defined terms 1 September 2016 Page 4

8. Financing facilities available Add notes as necessary for an understanding of the position

Total facility amount at quarter end

$A’000

Amount drawn at quarter end

$A’000

8.1 Loan facilities

8.2 Credit standby arrangements

8.3 Other (please specify)

8.4 Include below a description of each facility above, including the lender, interest rate and whether it is secured or unsecured. If any additional facilities have been entered into or are proposed to be entered into after quarter end, include details of those facilities as well.

9. Estimated cash outflows for next quarter $A’000

9.1 Research and development

9.2 Product manufacturing and operating costs (500)

9.3 Advertising and marketing

9.4 Leased assets

9.5 Staff costs (485)

9.6 Administration and corporate costs (689)

9.7 Other (provide details if material)

9.8 Total estimated cash outflows *(1,674)

* NOTE SmartTrans is an operating business that generates cash inflows each quarter, including receipts from customers. The above summary of anticipated cash outflows does not fully reflect the anticipated net cash flows for the following quarter, as it excludes cash inflows (such as receipts from customers). The net receivables balance due to the company (after deduction of payables) at 30 September was $1.3 million.

10. Acquisitions and disposals of business entities (items 2.1(b) and 2.2(b) above)

Acquisitions Disposals

10.1 Name of entity

10.2 Place of incorporation or registration

10.3 Consideration for acquisition or disposal

10.4 Total net assets

10.5 Nature of business

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Appendix 4C Quarterly report for entities subject to Listing Rule 4.7B

+ See chapter 19 for defined terms 1 September 2016 Page 5

Compliance statement

1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.

2 This statement gives a true and fair view of the matters disclosed.

Sign here: ............................................................ Date: 31/10/16. (Director/Company secretary)

Print name: Bryan Carr

Notes 1. The quarterly report provides a basis for informing the market how the entity’s activities have been

financed for the past quarter and the effect on its cash position. An entity that wishes to disclose additional information is encouraged to do so, in a note or notes included in or attached to this report.

2. If this quarterly report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 107: Statement of Cash Flows apply to this report. If this quarterly report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standard applies to this report.

3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.

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