Announcement of Capital Raise

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


26 May 2023

Announcement of Capital Raise

Blackpearl Group (NZX:BPG) wishes to advise the market that it intends to undertake a private
placement to raise up to approximately NZ$2.2 million at an issue price of $0.42 per ordinary
share in BPG (Placement). A maximum of 5,381,995 new fully paid ordinary shares in BPG will
be available under the Placement, representing 15% of the shares on issue. The Placement
will be limited to wholesale investors in New Zealand and accredited investors based in the
United States of America.

The Placement is scheduled to close on Wednesday 31
st
of May, 2023, or sooner should the
Placement be fully subscribed before then. Shares issued under the Placement will rank
equally and be of the same class as the shares quoted on the NZX Main Board.

The funds raised under the Placement will be applied primarily in accelerating the growth of
Blackpearl Group’s newest product, Pearl Diver, and supporting Blackpearl Group’s drive to
profitability. Please refer to the investor presentation for further information on Blackpearl
Group and Pearl Diver.

At the 2023 annual shareholders’ meeting scheduled for August, Blackpearl Group intends to
seek shareholder approval to ratify the shares issued under the Placement. This would renew
Blackpearl Group’s 15% placement capacity under the NZX Listing Rules.

For and on behalf of the board,
Karen Cargill
Chief Financial Officer
For further information, please contact:
karen.cargill@blackpearlmail.com | +64 21 135 5183

---

Better
growth,
together.
• - ‘5&V'5
' rV-.**'
>*f*f*^
V
m
%
4
■
*
■ *
*»
m
■
W
«■
*
^ * I '
.*
HP
ft
s-..V
r.
jp
* *
*.
f
■
»
r
* — .
* «
-
» '***.*
.4p#«c4^
ft
»
ft
ft
i ■*ft *
p
■ 1 *
■ **
'
%
* .
*
%
i*:
*
ft
»
*
s
ft- ft •
*-
ft
M* U
r
*
ft
ft
' ' ' '
* ■ ft / 4 # ■ |ia ■.
■
>
* * {*■<*.
' .■<
;. %
■ .* •.
■ V
ft
■ ft ■a, •ft »
** •
*. • •* *•
** * . •
• ■_
i -
' . •
.ft
ft
ftp
ft*ft
m
ft*
£
■*
w *
■
* :■
■
■>.
■
■a'*"**a
*■* 11 «
* -■■.* **
.'«..
*
' *\
* -V
■
m*m
*
ft
ft-
V
■ *
»
ft
mm*
ft
»
«
*i
■.
. I
’V
■
fe'6;-
M
jsm
y?>vv//
ys//// ■■
* • . - ; j
a : : \
*
■ X
*
ft■ ■
%
-v
*,**
% ■
■*v-
X.
-ft*
-■
* *
+ ft
w
m
s - * '
^ i ^ f * 4
-#■ _ * * *r
■
*
V
'4
ft
m
>■.
**»
#
■
B a-
■-
ft
ft
*
"
ft
ft_ ■
ft
*,f _ 4
. ft*
ftP
V
• ■T
'>v'
'*4
ft
't
V
* *
4
■pi
a■
ft
■
4 * t
^ft*
V -
\v
p
■
■*: -
»
V* *
-*
■a
mj
• ft
1
**:. .V
* ■ *.*
* ■ .■«
«
*
...............
*4 *
ft
4
*« ’•.
ft ft
■*
*■
v ■ /
■ V;*.\
■ * ■ .V-
■ *
■
-»
. •,
V ** 4
f
ft
■ ft
4 \
*
• +
ft
■
’I
4
*-
■p^
4
4 t ’
‘ft
4-
ft*
ft
ft
ft-
"**
*
*
■ ■ * ft
■V
ft*"
ft
1
.>’■
ft
T*
fta
ft*
i*
_*+
■ ;:v
rm •
-ft
*4
'
ft
■
m
ft
,■
V** 4
■ (
4A-
ft
*4
.. •• •
■-i.
*•
>#*+
•
-
*
V
ft
ft^
■
-• * 4
v-
■4
V
* t .■
r
*:
V
V .
p
T
*4
4
>■.. *
' t.
T
%
'ftV
ft
• \ - *
'
* ft*
■
■
ft
ft
ft
*r".
ft. 11
•ft
%
B
■
*.
<
*«
c m
■
ft
■.
ft^
#
w
*
A
:*
4
■
■ * *
V.
* ' i
ft ■-
. *
■
*
: «
i*
• \
\\
: i:
*
«
-*
/;
«
#
■
A
.
*
*
■
**a
■-
# ■«
■a
*
«
*
*
ft
*
\
:
ft
*
«
* »
ft
t
r
*
V 1
*
»
- *
»
T
*
ft
>
ft
■
ft
ft
ft
a*
-«*
F_ft
■ ft
*■ ft
ft
■ ftft
* ■
*
r ft
-
ft
■
V
ft"
■
■I
•>
H
■
V
* s.
•ft
v'.
i
m
* . * 4
..i
4, \\
■ \ ^ *■
-ft
ftft+
;
z
«
t*
ftft
v
;:
■■
«
:
T
■
■
*
■ft
ft
#
\ t
I
ft
« ft
ft
A
5*
•p
*
. 1
*
B
ft
■
ftft
i
*
■
m. m
If i
I
■p
#
ft
*
V
4* 4
■ **
*
*
ft
Fit-
■
ft-
■
*
* ■
ft
*#
ftft
*
-•
r
• i
i
*-«
■9*
ft
ft
ft
4
*ft
ft
*
; *
*
*
■
■
>
4*
ft
\
ftftft
4ft
ft
*
<
V
ft
4
i
:
•-
y
-
B-
• * "
* _ ft
M
-ft
»
«
■«
<
ft
*
ft
**
m
4
■ ■
;. *
;* *
4
4
p
*
*i
»
* m
ft
*
ft
■>■
#
:
4ft
4'
«
*
/
■
4 \
•*- *
; V- *
^ * *
9
«*
•-
r*
*
,-.1
«'
:
»
:
«
4 -V
* ■ **
J
/*
#
1'-ir
B
*
ft
■
m■-
ft
:** •.
t ;
T
■
‘ J.#
i
R "
4
■
:
*b^
B ■
:
B ■"*
ft .. a* ft
y *
■
■
■
*
*
■
:
ft
a-' "
b-^
«■
*V
•b■*
a18
#
y
*
•4^
■:
; *
*
A
PP
ftft
4*ft
AP
^B
Pft
H/i
•;/ ■
■
B-
ftft
ft
■
ft
'*
-
*^ft
.
P ft” *
■ .* ft
*
4 *
I*
*
*
">4.
ft
ft
*
‘■rft*
ft
«*
ft
ft
4-
/ . ’
■ %
r
■
*
ft
ft
i.ft
*
*
m
*
........“jr*
1 *
•V. *
■ v :
*
*
4^ ■
ft
B
*
* B* ■
" * ft-
ft
*
p
B
.ft*ft1
ft
■
*
*
#
"ft.
ifl
R
ft
■V
p
* ma
*. ■ vj.
p4
**
j*
■
|| A■
V
B ft
■
■l
4
1
■
ft"*
m
J
a * 4
. ft- *
/ *■
4
ft*
\
■
' *■
*
4
^■B
ft
'■
•4
■■
p
l*-
«
“
/
■ .
•* . *
4
■ft
4*
■ '■
■#
*
■v
*
* *
■
V-..
4*
"*ft. B ^B**.**1*
** *
P*
■
■ J
<?.
.*■ft
i
#
p
ft
■
4*
■ /
ft
■
m
.* .
. •
p *
p
a
■.
4
T
■
* ■
ft
4 - + - ■
' 4-p'
■ -•
: -iT*
UfM
**
*
ft
i p
* *#
M-
« i *
■ *
-a
*
*r* *
* *#
#
*
* *
-a
*
■
-■
«a
"*
■
■
■ft
*
s
m ■
»
ft
a
#*
/
#
a
^V
p-- ■
4*
• *
ft*
ft
‘*4
■ft
\
ft
..............
ft
P V
* *
a *
*p
■
ft;
s
:r
*-B
ft m\
- t*-# »«v I*"* iaV*^*^* +
_ #*"
■ * s
7;
*
* .
*
A wft
• ft
■*P
ftv
Jft
** /**
*
* * ■ ■ »
»p
4*r
* »*
«*
iff
*
■-
ft^p
p
A *
P
• ■
ft
f*.
. ** *
P
#
*ft
4-
ft
^9
**
_ ■
pi
P
P
P* *
•■
* *
v■ *4
»
ft "
■4
Sft
* * .
ft
•ft
■
p" *
* *
4*.
* ft*| ft * * *
*
s* •
■m “
.*■
‘ /
ft
*
ft
ft
-ft
4*
«
4
4p
4"
ft"
A
A
*a*
V
•ft
. ft ^
-*
a-.a
4-
■*A
* ft
■4
a
A
■ p >
V* - * '
■
■
4*
»
4
*1 ■
*■«
•? *
*
4
4ft
ft
ft
*
ft
*
a
p
*
»
:
*#■»«■*4
4-*-
r
*
ft
■p
*B
• ft
4
\. *
**
A
‘ft
*4
-ft
9
ft
ft
* ft
ft-
ft
4
A
■
4
m
4
*•
p
a *
■■
«
A ft4
ft
.*
■ft
4
«
■ * * ft Pftft. i
aA*»**^ft*#
ft
ft
ft ft *
................................*
■A
p * A.. * ."tj. * '
• . p’v
ft
■ *
»A
,**
■
4
1’
4
ft
«
*_
ft
m*m
a*
*
• ■
4
a.
***
4
A*
*.
p
a
w
aft**'1-
«
a
**
■
* /
* *a
^ *
*A
4A
A
*■ ’
a
* p • *
A*l*
A
a
I**—*
A4
-■
■ft*
*4 1 A^
4
A
A
• ft
ft
A■
.*
P
™ ft
»* * *
■ * ft ft ft
*
ft
a
a
■#
*»
.........
**
ft
•*
ft
•ft
9
a
*.
«
*
« *
■*•
a
Aa
v
*
*
A9
*
4 *
A
; *v
. *■
■a
*
*
*
»
■
■
4
*
A * * *
■ ft ft *
a
V *
. p » p ■ ’
**
ft
-A
A
ft
#p
ft
A
4
a
p
; : * t . .
A
ft
4
.*
A
p
9^
*#
...........
4*
* * § (rti 4
•ft
* m
a
a
* * *4 ■ ft ft *
ft
ftft
„**............................ft
ft*"*
A
* .*■
4
4
4 V
•ft
ft'
A
ft
a
4 *
a
*■*
A
*
9
.ft.*’-
^a****-.-***^
a
A
4
* • 1 * .
■ *****
‘•W.....+**** • *
■ ^ " _ ft '
. *
4
A
a
*
• * * * *
A
■
*.
ft. # ^AA
a-
4 * ■ * *
4
4
4
ft
ft
A
4
ft
4
■
4 .
■4
r
1
«
*
H
A
■*
A
**
*ft«**t*t_
- ■ *
■■m u
A
A
*...........
a*
#
i
B
*
p
' **••
a
■*
^ J
4'
14
4
A
a* •
*
a*•
a
4
p
a
a
•* #a
> • c
*
A'
■ aa,a#aa
A
a
p
4'
ft
blackpearl
4
a
»■
#
*A
9
■■
ft
ft
a#
«
ft
a
■
t
m
a*
*
AA
A
ft
4
P
■
ft
P
ft • •"* ft
ft
p
44
A
a
V**.*
ft**
A
4
4
ft
4
ft
w
***■
A
4
ft'
ft
A
ft
c
A44
4
a
A
A
* **
A A
A
A
4
ftftA'
*
'ft
f
ft.
*
ft
A
I*
A
4
4
ftft
A
A
ft *
ft
9
a a
ft
* a a a a 4
A
•■
P
.
ft
ft
a
A
4
a
A
ft
ft
ft
ft
A
* a
A
A
ftA
A
A
A
p

Blackpearl Group is a data technology company,
relentlessly focused on unlocking the potential of data
for small and medium-sized businesses.
We build, acquire, and market cutting-edge, cloud-based
services that empower businesses to make data-driven
decisions, drive productivity, and generate demand.
Our suite of tools and applications is designed to help
businesses of all sizes harness the power of data and
achieve their full potential.
1 - Overview

From listing
to lift off
NewOldStamp.com adding over 1+m
site visits a year for cross/up-sell
opportunities.
2 - Highlights from the last 5 months
As a data-focused company,
Blackpearl Group recognizes the need
to stay at the forefront of technology
trends to continue delivering
innovative solutions for its customers.
With the added financial resources
that come with being a public
company, Blackpearl Group can
rapidly acquire new technologies,
grow its data partnership network,
and position itself as a leader in the
data technology industry.
Mar 2023
Dec 2022
Jan 2023
Listed on the NZX
Became a public company to
accelerate growth, acquisitions,
and data partnerships.
First acquisition completed
Successfully integrated 30+ new
staff to enable 24/7 global coverage
across development, marketing,
customer support and sales.
Scaled up workforce
Feb 2023
New Data Partnership
Partnered with a world-class
identity network.
Apr 2023
May 2023
Anonymous website visitor
identification functionality added to
the Pearl Engine via data partnership.
Pearl Engine Enhancements
Launched new product
Launched Pearl Diver, achieving a
10x higher MRR per customer.
Successfully scaled sales team to
handle the demand for Pearl Diver.
50+ orders in 30 days
Debt restructure
AZ Crowns reaffirms long-term
support with amendment to
the promissory note.

Group
Structure
Our proprietary data platform,
the Pearl Engine drives a
range of powerful productivity
and demand-generation
applications specifically
tailored to meet the unique
needs of small and medium-
sized businesses (SMBs).
3 - Group Structure

Pearl Diver enables businesses to enhance customer
engagement and conversion rates by transforming
anonymous website visits into leads and identifies key
sales opportunities using multiple data measurements to
assess levels of engagement.
This amalgamation of over a decade of experience in data
technology and email tracking combined with a powerful
world-class identity graph has led to a world-first
technology solution. Helping businesses unlock their data's
full potential and overcome the challenges facing them,
like rising advertising costs and poor access to data.
4 - Pearl Diver - A market of one

Finding the pearls...
First nameLast name
EmailJob Title
Mobile
DDI
Company
Revenue
LinkedIn
And much more...
Demographic & Firmographic data points
Gender
State
Seniority Level
Department
Industry
Zip CodeAge range
Income range
URL
5 - Pearl Diver - Find the pearls...

Actionable insights
6 - Pearl Diver - Actionable insights

100250500
12 months24 months36 months
$100,000,000
$75,000,000
$50,000,000
$25,000,000
$0
A rapid growth
opportunity
Based on Tier 2 purchase of $617 NZD and 3% churn
ARR
7 - Pearl Diver - A rapid growth opportunity
As with all Blackpearl Group’s existing SaaS
products, Pearl Diver is charged on a monthly
recurring basis. This means revenue
compounds each month. With an average
monthly subscription value 10x higher than our
existing products, the compounding nature of
this higher monthly recurring revenue
significantly impacts the Groups ARR.
Our models factor in our low Group wide sub
3% churn rate.
Net new customers per month

FY23
Financial
Highlights:
Based on unaudited management accounts.
May be subject to change.
100
Revenue increased by
from FY22
%
265
Gross Profit increased by
from FY22
%
3,800
Over
customers as at 31 March 2023
(490% increase from FY22)
13
Average Revenue Per Customer
for NewOldStamp increased
%
7
Average Revenue Per Customer
for Black Pearl Mail increased
%
65
Net Assets have increase by
from FY22
%
8 - FY23 Financial Highlights

A clear path to
profitability
The capital raise we are undertaking will be
instrumental in accelerating the rapid growth
of Pearl Diver and supporting our drive to
profitability. We have already made
significant progress in attracting new
customers and expanding our data
partnerships, and this capital will help us to
take these efforts to the next level.
100250500
12 months24 months36 months
$100,000,000
$75,000,000
$50,000,000
$25,000,000
$0
Pearl Diver compounding ARR
9 - A clear path to profitability
Based on Tier 2 purchase of $617 NZD and 3% churn
Net new customers per month

DISCLAIMER
This information is provided for informational purposes only and does not relate to an offer of financial products under the
Financial Markets Conduct Act 2013 (FMCA).

The information and opinions in this document were prepared by Blackpearl Group Limited. BPG makes no representation
or warranty as to the accuracy or completeness of the information in this document. Opinions including estimates and
projections in this document constitute the current judgment of BPG as at the date of this document and are subject to
change without notice. Such opinions are not guarantees or predictions of future performance. This document is provided
for information purposes only and does not constitute investment advice. Neither BPG, nor any of its Board members,
officers, employees, advisers or any other representatives will be liable for any damage, loss or cost incurred by any
recipient of this report or other person in connection with this document.
DEFINITIONS
Monthly Recurring Revenue (MRR) - is calculated using the monthly revenue generated per customer. Annual Recurring
Revenue (ARR) per customer - is calculated based on 12x the MRR of each price tier.
Average Churn Rate - is calculated across BPG's products over 12 months, resulting in an average rounded up to 3%.

Better
growth,
together.
j