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1 Company Update 23 September 2016 ASX Ticker: PSY

2 Investment highlights Panorama provides valuable exposure to the rapidly growing microelectromechanical systems (MEMS), MEMS-based spectroscopy, sensor applications, and the Internet of Things (IoT) sectors Top tier Board and management team with extensive industry experience, invested in Panorama s success Focused commercialisation strategy with multiple paths to market Significant investment in the technology has already occurred, positioning Panorama for significant growth Very large addressable market comprising: - MEMS market: CAGR of 11% and forecast to grow to US$32 billion by Spectroscopy market: CAGR of 2.9% and forecast to grow to US$15.6 billion by Sensor market: CAGR of 11% and forecast to grow to US$190 billion in IoT market: CAGR of 39% and forecast to grow to US$7.1 trillion by HIS Inc, Yole Development, EE Times 2. Bcc research, global markets for spectroscopy equipment 3. Bcc research, global markets and technologies for sensors 4. CISCO and International Data Corporation forecast 2

3 Corporate Overview Panorama is a leading Australian developer of innovative sensor technology Corporate summary Best-in-class proprietary technology with a broad range of applications across multiple industry sectors in a rapidly growing market Currently focused on two sensor technologies: LumiMEMS TM and MEMS-based spectroscopy Supportive cornerstone investors, with high levels of management ownership and significant founder holding Close links with University of WA s Microelectronics Research Group (MRG) Share price (A$) Volume (m) Sep-15 Dec-15 Mar-16 Jun-16 Sep-16 Volume PSY Top shareholders 1 Shareholder Shares % King Group (John King, active technology investor) 139.9m 27.6% Flet Investments (Terry Walsh, CEO) 44.0m 8.7% Capital structure Share price (23 September 2016) A$ 0.09 Number of shares 2 m shares Market Capitalisation A$m 46.0m Cash (30 June 2016) A$m 3.7 Enterprise value A$m 42.3m Financial information Source: IRESS 1. Company filings as at 18-Sep-15 no significant changes since 2. Excludes unlisted options (10m options at A$0.14 exercise price, exp 15-Dec-16; 9.4m options at A$0.70 exercise price, exp 30-Sep-17; 8.8m options at A$1.20 exercise price, exp. 30-Sep-18) 3

4 Board and Management Panorama is led by a strong Board and proven management executives Board Management Dr Nigel Finch Executive Chairman Glenn Ross Non-Executive director Terry Walsh Managing Director & CEO Dr John Bumgarner Chief Technology Officer Dr Claudia Kuettel Advanced Technology Projects Brian Goodman Chief Operating Officer Managing Director at Saki Partners Transaction Advisers Has held director and senior management roles focused on strategy execution, and financial performance and management 10 years experience in University sector and former Associate Dean at the University of Sydney Non-Executive Director of Mach7 Technologies (ASX:M7T) Prior experience in technical and sales roles at multinational corporations Extensive investment experience in both public and private companies More than 28 years of experience in the technology industry 15 years at Cisco Systems, including MD of Cisco s Australia / New Zealand business and CEO of Cisco s Canadian operations More than 30 years of industry and academic MEMS technology experience Former Process Integration Manager at Intel, and Research Manager at SRI International, Microfabrication Manager at University of South Florida, and Operations Manager at Stanford University s Nanofabrication Facility Significant sensor industry experience, having recently worked at Sensirion, a world leading sensor development and manufacturing company, where she was responsible for the commercialisation of MEMS sensors Extensive academic research background and holds a PhD in Sensor and Actuator Systems 20 years of product management experience Former Global Product Manager with Thomson Reuters (London), and Product Development Manager for Australian Securities Exchange (Sydney) Academic qualifications include Master of Business Administration, and Master of Applied Finance 4

5 Market Opportunity Attractive market opportunity across the large and growing MEMS, spectroscopy, sensors and Internet of Things landscape MEMS Spectroscopy Sensors Internet of Things About Microchips comprising miniaturised mechanical devices such as sensors, mirrors, lenses, valves and actuators. About Examines the light spectrum to assess the composition of a sample that the light has interacted with. Enables remote sensing. About A device that detects and responds to some type of input from the physical environment. About A development of the Internet in which everyday objects have network connectivity. Applications MEMS sensors can be used in a broad range of sensing modalities including temperature, pressure, inertial forces and chemicals. Applications Spectroscopy can be used to analyse chemical composition and physical properties Applications The specific input could be light, heat, motion, moisture, pressure, or any one of a great number of other environmental phenomena. Applications Everyday objects can send and receive data, be sensed and/or controlled remotely for direct integration of the physical world with computer-based systems. Current Market Size US$16 billion 1 Current Market Size US$13.5 billion 2 Current Market Size US$113 billion 3 Current Market Size US$1.9 trillion 4 Forecast Market Growth & Size Forecast growth rate of 11% CAGR to US$32 billion in Forecast Market Growth & Size Forecast growth rate of 2.9% CAGR to US$15.6 billion in Forecast Market Growth & Size Forecast growth rate of 11% CAGR to US$190 billion in Forecast Market Growth & Size Forecast growth rate of 39% CAGR to US$7.1 trillion in HIS Inc, Yole Development, EE Times 2. Bcc research, global markets for spectroscopy equipment 3. Bcc research, global markets and technologies for sensors 4. CISCO and International Data Corporation forecast 5

6 Panorama s Competitive Position Panorama is ideally positioned at the forefront of the large and growing MEMS, spectroscopy, sensor and Internet of Things markets Internet of Things US$1.9T MEMS US$16.0B Sensors US$113B Spectroscopy US$13.5B 6

7 Panorama s Best-of-Breed Technology Panorama s valuable technology provides the foundation for a differentiated product offering delivers real-time information to make better decisions through devices that are: Mobile Robust Able to operate with a small footprint Cost-effective Sensitive and accurate Lab-class sensing in the field Small physical space requirements Low power requirements 7

8 Priority Markets Panorama s technology targets multiple sectors food and agriculture, defence, and industrial processes, which provide a potential multi-billion dollar opportunity Food and agriculture Defence Industrial process Opportunity: Crop Production, Fertiliser, Livestock Market Proposition: Improve agriculture yields and lower costs of production with real-time analysis using a hand-held or mobile device Stage of Development: In discussions with potential collaborative partner Opportunity: Explosive Detection, Nerve Agent Detection, Contamination Remediation Market Proposition: Save lives through rapid and improved detection of hazardous substances and threats to military personnel in the field Stage of Development: In discussion with various defence players for future opportunities Opportunity: Contaminant Detection, Process Completion, Composition Analysis Market Proposition: Movement from in-lab to in-line testing which provides real time feedback to process control Stage of Development: Collaborative partner identified and discussions about future collaborative testing underway 8

9 Panorama s Competitive Advantage Panorama has a valuable suite of MEMS-based technology LumiMEMS MEMS-based spectroscopy About LumiMEMS integrates MEMS sensor and laser-based optical readout on the same chip Detects analytes or physical properties present in minute amounts A technological nose o Sniffs out and detects chemicals in surrounding area About Panorama s MEMS-based spectroscopy enables miniaturisation of spectroscopy capabilities onto a MEMS chip Examines the light spectrum to assess the composition of a sample that the light has interacted with, which also enables remote sensing o Non-destructive and fast o Allows for easy sample preparation (no pre-treatments necessary) Competitive advantages The LumiMEMS optical readout system has enabled extreme miniaturisation but retained lab quality accuracy thereby enabling lab quality accuracy in the field High levels of sensitivity and accuracy Low power requirement Technology can work in air and liquid Competitive advantages MEMS-based spectroscopy enables portable and broadly deployed devices Low power requirement Cost effective Robust 9

10 Valuable portfolio of intellectual property Panorama continues to expand its valuable suite of patents having filed 17 patents across Australia, US and Europe, with 10 patents granted to date LumiMEMS Title Region Status Optical cantilever based analyte detection Australia, US Granted Optical cantilever based analyte detection US Granted Optical cantilever based sample analysis Australia Granted Apparatus, method, and computer program product for structured waveguide transport US Granted using microbubbles System, method, and computer program product for structured waveguide including US Granted polarizer region Optical sensor Australia Filed Optical cantilever based analysis US Filed Stimulating an optical sensor using optical radiation pressure Australia Filed Optical sensor with 2D grating Australia Filed A system and method of performing atomic force measurements US Filed MEMS-based spectroscopy Title Region Status A resonant cavity device and a method for fabricating the same Tunable cavity resonator and a method of fabricating the same Microelectromechal Systems (MEMS) and Methods Australian patents US patents EU patents Total patents Australia, US Australia, US, EU Australia 6 granted 2 filed 4 granted 4 filed 1 filed Granted Granted (Australia and US); Filed (EU) Filed 17 (10 granted and 7 filed) 10

11 Commercialisation and growth strategy Panorama s focused and de-risked commercialisation strategy with multiple paths to market is designed to maximise returns for its shareholders Commercialisation and growth Growth through strategic commercial partnerships o Allowing Panorama to enter a number of key market verticals simultaneously Develop, validate and secure patents to technology Paths to market Panorama is investigating potential paths to market, including: o Licensing to third parties with the manufacturing capabilities o Providing platforms for the widespread delivery and deployment of Panorama s technology Continued in-house R&D and development of new technology and new prototypes Optimise the manufacturing of the core components of Panorama s patented technology Commercialisation and growth Paths to market o Original equipment manufacturer (OEM) approach providing components for other manufacturers to use in their devices o Manufacture of complete instrument incorporating MEMS-specific technology where business case is compelling 11

12 Positioning Panorama for commercialisation Panorama is now optimally positioned for rapid commercialisation and growth Near to medium term milestones (next 12 months) Collaboration agreements leading to customer projects Key achievements (last 12 months) First demonstration chip-based spectrometer built utilising patented technology Progressed patent applications Established relationship with nanofabrication facility at University of South Florida (USF) First test structures of tuneable filters fabricated at USF Priority markets identified Expansion of team with required capabilities and experience Continued research into potential products Further infield studies and user trial activities Further development of technology with iterations of chip fabrication to enhance performance Build and test second (and improved) demonstration chip-based spectrometer Integration of technology into a field portable NIR (Near-infrared) spectrometer prototype Potential expansion of LumiMEMS sensor applications to low-cost uncooled infrared detectors 12

13 Audio Pixels case study (AKP.ASX) Significant rerating potential exists based on Panorama s current share price Overview Panorama is well positioned for commercialisation and future growth Continued investment into validating technology, growing IP portfolio and product development Panorama s focus on priority markets provides potential product diversification with significant upside potential Share price (A$) Post March 2016 AKP enters final phase of commercialisation AKP signs commercial agreement for mass volume production PSY is attractively positioned to capitalise on exciting growth opportunities - Mar-16 May-16 Jul-16 Sep-16 Volume PSY S&P/ASX Small Ordinaries AKP Volume (m) Panorama Synergy (ASX.PSY) Audio Pixels (ASX.AKP) Cash balance (June 2016) A$3.7m A$7.5m Patents Granted: 10 Filed: 7 Granted: 128 Filed: 2 Time to commercialisation Medium term Near to medium term Key target markets Food and agriculture Defence Industrial process Consumer audio electronics Market capitalisation A$46.0m A$648.0m Source: IRESS, company filings 13

14 Disclaimer This presentation has been prepared by Panorama Synergy Limited (the Company or Panorama ). This presentation is being provided to investors for the sole purpose of providing preliminary background financial and other information to enable recipients to review the business activities of the Company. The document is not intended to constitute an invitation or an inducement to engage in any investment activity. The presentation is not intended to constitute investment advice and should not be relied upon as such. This document is not intended as an offer or recommendation with respect to the purchase or sale of any securities in the Company. The content and graphical illustrations contained in the presentation are provided for information purposes and should not be relied upon to form any investment decisions or to predict future performance. The Company is wholly reliant upon third parties for the accuracy and completeness of the information in the presentation and has no duty of care owed to you in relation to such information. Although the information expressed is provided in good faith and the Company believes that its expectations are based on reasonable assumptions, it can give no assurance that its goals will be achieved. Important factors that could cause actual results to differ materially from those included in the forward-looking statements include amongst others, unforeseen delays in product development, the timing and extent of any changes in the associated technology and the ability of the Company to meet its stated business goals. Prospective investors should make their own independent evaluation of an investment in the Company or seek advice from their financial adviser, accountant, lawyer, stockbroker or other professional adviser before making any investment decision. Nothing in this presentation should be construed as financial product advice, whether personal or general, for the purposes of Section 766B of the Corporations Act, or otherwise. This presentation does not amount to, involve or imply a recommendation or a statement of opinion in respect of whether to buy, sell or hold a financial product. Neither Panorama or any of its or their associates or any of the Company s directors (Panorama Group) shall have any liability whatsoever for: (a) investment advice; (b) a recommendation to enter into any transaction or strategy; (c) advice that a transaction or strategy is suitable or appropriate; (d) the primary basis for any investment decision; (e) a representation, warranty, guarantee with respect to the legal, accounting, tax or other implications of any transaction or strategy; or (f) to cause the Panorama Group to be an advisor or fiduciary of any recipient of this report or other third party. None of the Panorama Group shall be responsible for or have any liability to you for losses or damages (whether consequential, incidental or otherwise) arising in any way for errors or omissions in, or the use of or reliance upon the information contained in this document. To the greatest extent permitted by law, we exclude all conditions and warranties that might otherwise be implied by law with respect to the document, whether by operation of law, statute or otherwise, including as to their accuracy, completeness or fitness for purpose. Unauthorised copying of this document is prohibited. 14

15 Contact Dr Nigel Finch Executive Chairman E: P: Terry Walsh Managing Director/CEO E: P: Gabriella Hold Media and Investor Relations E: P: Panorama Synergy Limited Level 1, 61 Spring Street Melbourne VIC P: F: