The relevant information below confirms all legal, operational and regulatory work completed, in order to progress and establish the developments of the business in the U.K and Hong Kong.

May 2017

Consultation for ‘Risk Management’ of the company provided by Oakfield Millar Ltd, outlining generic credit risks and mitigating controls as well as a deep dive into operational structure and key personnels to be recruited.

Oct 2017

Website agreement terms drafted for Populous registered users coming onto the site platform.

10 Nov 2017

Lucy Walker — Financial Services and Regulatory barrister of Guildhall Chambers, Bristol — has provided written advice on proposed Populous invoice finance operation in the U.K and the regulations surrounding same following detailed instructions provided to her on the Populous model.

27 Nov 2017

Tim Aron — Contracts Barrister of Outer Temple Chambers, London — has reviewed the following documents drafted by Populous’ solicitors in relation to the invoice finance business to be set up. The documents being:

The Invoice Finance Letter of Offer Ancillary credit and Security Agreements to be used by the Invoice Sellers. Invoice finance discount agreement terms. Rules of Populous invoice trading platform. Platform services user agreement. KYC — AML documentation for invoice buyers and sellers.

06 Dec 2017

Jack Lee, based in Hong Kong, was appointed as a consultant to assist with the establishment of Populous invoice finance business in Hong Kong. Mr. Lee had previously worked in QBE Insurers and traditional finance business in the Far East.

The advisory work that Mr. Lee had been assigned is now completed.

Mr. Lee has provided extensive professional advice on Populous’ invoice finance/factoring process for our consideration. Having accomplished his advisory tasks, Mr. Lee has today resigned from the Honourary advisor position.

16 Jan 2018

Laurence Li and Andrea You of Temple Barristers Chambers, Hong Kong, have provided their written opinion(s) on the proposed Populous platform model for the establishment of the business in Hong Kong.

05 Feb 2018

Instructions have been issued towards the preparation of a draft contract for a Populous COO in Hong Kong to be appointed to implement the advice issued from Temple Chambers Hong Kong and the drafting of a ‘Company Employment Terms’ handbook dealing with bonuses, incentives and other matters relevant to Populous employees in general in Hong Kong.

END

Lou Chan

Head of Marketing, Populous.