Blackpearl Diver – Market Update

Blackpearl Group | Level 1 60 Cuba Street
Wellington 6011 | New Zealand
hello@blackpearlgroup.com | +64 480 39390


NZX MARKET RELEASE

5 April 2023

BLACKPEARL DIVER – MARKET UPDATE

Blackpearl Group (NZX:BPG) is pleased to update the market on progress with the
launch of its new product, Blackpearl Diver (Pearl Diver).

Throughout March, Pearl Diver was released to the US market in a staged approach,
during which Blackpearl Group secured over 50 orders from both existing and new
customers.

"The success of Pearl Divers' first month of sales is compelling considering, even at the
Tier one pricing, a sale is 10x the average sale for NewOldStamp and 2x that of Black
Pearl Mail services. The compounding nature of this higher monthly recurring revenue
significantly impacts the Groups ARR." said Blackpearl Group CFO Karen Cargill.

As with all Blackpearl Group’s existing SaaS products, Pearl Diver is charged on a
monthly recurring basis. This means revenue compounds each month.

“It’s an exciting start, but in line with what we expected from such an innovative
product.” says Nick Lissette, CEO. “The Pearl Diver proposition is exceptionally
compelling; the most common customer feedback we get is that Pearl Diver is a “No
Brainer”, which indicates our packaging and pricing is on point.”

Key to the successful uptake of Pearl Diver has been leveraging the large volume of
organic traffic visiting NewOldStamp.com – which Blackpearl Group acquired in
November 2022. “Our strategy is to add new data streams into our proprietary
platform, the Pearl Engine, to create innovative services which we can sell to both
existing customers and new prospects. Pearl Diver is a great example of Blackpearl
Group executing on this strategy.” says CTO Sam Daish.

April will see the release of additional product features, direct marketing initiatives, and
increased sales targets.

More information on the new product can be found at pearldiver.io

For and on behalf of the board,

Karen Cargill
Chief Financial Officer
For further information, please contact:
hello@blackpearlgroup.com | +64 480 39390