AML3D Limited Annual Report 2022

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FY2022 Annual Report · AML3D Limited

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AML3D Limited // ASX: AL3 // ABN 55 602 857 983

Annual Report

2022

Contents

Chairman’s and Managing Director’s Report

Board

Directors’ Report

Renumeration Report

Auditor Independence Declaration

Audit Report

Financial Statements

Directors’ Declaration

Additional Shareholder Information

Corporate Directory

AML3D Limited // ASX: AL3 // ABN 55 602 857 9832

AML3D Limited // ASX: AL3 // ABN 55 602 857 983Chairman’s
& Managing
Director’s Report

Board Chairman, Sean Ebert

Dear Shareholders,

Financial Results

It is with great pleasure that we present to you

AML3D Limited’s (‘AML3D’ or the ‘Company’) Annual

Report for the year ended 30 June 2022.

During the year AML3D continued to develop its proprietary technology

and leverage its advantages to deliver its multi-phase growth strategy.

This strategy is designed to generate shareholder value over the

immediate, medium and longer-terms, through the commercialisation

Revenue for the financial year was $2.0 million, an increase of

over 200% on the prior year. The greatest portion of this revenue

was derived through the sale of AML3D’s proprietary ARCEMY®

industrial scale 3D metal printing units. In addition, revenue from

the printing of parts continued to support our performance and

was up 20% on the prior year. This improved performance reflects

AML3D’s focus on its immediate and medium-term value drivers.

of our proprietary Wire Additive Manufacturing (WAM®) technology.

AML3D’s financial result for the year reflects the necessary upfront

Our WAM® technology delivers cost savings to our customers of

investment needed to establish the foundation for future success.

up to 70%, while our production process is 75% faster and reduces

We are continuing to invest in innovation to ensure AML3D

waste by up to 80% when compared to traditional manufacturing.

maintains its market leading position. In addition, our sales and

Some of the key milestones achieved during the year include:

• Sale and installation of ARCEMY® units at Queensland

University and the Royal Melbourne Institute of Technology,

in addition to installation of an ARCEMY® unit at the Tonsley

marketing teams continue to build strong momentum, which bodes

well in terms of progressive revenue growth into the future.

Immediate term value drivers – Oil and Gas

AML3D identified the Oil and Gas sector as a key driver of

Factory of the Future through a joint venture with BAE and

immediate term value creation.

Flinders University.

• Completion of printed parts for global customers across our

target markets of Oil and Gas, Marine, Aerospace, and Mining.

• Ongoing technology development to further reduce production lead

times and improve the commercial applications of our process.

During 2022, AML3D initiated validation work to address supply chain

issues impacting a global Tier 1 Oil and Gas customer. The validation

work will leverage the advantages of AML3D’s advanced WAM®

technology to produce industrial scale, 3D metal printed components.

The combination of WAM® technology’s fast lead times to manufacture

• Orders from ThyssenKrupp and Boeing, alongside validation

providing a solution to the supply chain constrains facing this global

work with a key Tier 1 Oil and Gas major is supporting

Oil and Gas major and its superior ESG profile helping to support this

discussions for repeat volume business.

customer’s sustainability commitments which helped to secure the

• Being approved as a supplier of 3D printed power plant

parts for a major Australian Energy company.

AML3D is working closely with our customers to support their

testing and validation of our metal 3D printing technology.

We believe our disruptive technology will transform the metal

manufacturing and fabrication landscape forever and is the key

to the future of manufacturing. Within the context of a global drive

to (net) zero-emissions, our process minimises material waste

and significantly lowers emissions and electricity consumption,

when compared with traditional casting and forging technology.

AML3D’s proprietary 3D-printing solution offers prompt delivery

of an array of high-quality, large-scale, custom built components

to customers at competitive prices. All of this is achieved with

significantly shorter lead times, less raw material input and

validation work. The successful printing and testing of the validation

components is expected to create the opportunity for AML3D to

become integral to this global Tier 1 Oil and Gas customer’s supply

chain, using our WAM® technology. This enables the Company

to supply a variety of components within this customer’s existing

parts library and underpin significant growth in future orders.

AML3D also signed a purchase order as part of the Company’s

global collaboration agreement to supply an industrial component

to AdditiveNow for an additional Tier 1 Oil and Gas end customer.

The purchase order followed a site visit by the end customer

to inspect AML3D’s facilities and, following testing, this initial

component will be used to identify a range of suitable parts within

the end customer’s parts library for supply via 3D metal printing.

Immediate term value drivers – ARCEMY® sales

waste, and greater end product strength. Traditional fabrication

AML3D has sold and installed a further two ARCEMY®

has served industry well for hundreds of years, however,

industrial scale 3D metal printing units, generating revenues

today society is rightfully demanding businesses operate

of approximately $400,000 each. In total five ARCEMY® units

sustainably and with a minimal environmental footprint.

have now been sold, commissioned and are operational.

AML3D Limited // ASX: AL3 // ABN 55 602 857 983Three of these units are operating within commercial businesses

high pressure piping spool to be successfully tested and verified by

and will provide the Company with ongoing revenue from license
fees and service support. The ARCEMY® unit at the Adelaide

based ‘Factory of the Future’ joint venture with BAE Systems and

Flinders University has been profiled to potential Tier 1 clients

including, Thales, RheinMetall, BAE and Northrop Grumman.

Immediate term value drivers
– Contract manufacturing

Contract manufacturing is an immediate term value driver for

AML3D, while also creating entry points to access potential

medium term value opportunities through the development

of repeat orders and offering additional services.

During Q2 2022, AML3D accessed a new market when it

signed its first purchase order with a globally recognised North

American space exploration company to supply a bespoke

prototype using a high strength corrosion resistant alloy.

This order was followed by a purchase contract with a new Defence

Aerospace customer to deliver a 500kg, four-part aluminium nozzle.

The Company also signed a purchase contract to produce, what is

believed to be a world first 3D metal printed, pressure and corrosion

resistant titanium plunger for a new Oil and Gas customer.

In addition, AML3D is an approved supplier to ThyssenKrupp,

the German industrial engineering and steel company, and

received and fulfilled multiple orders during FY2022.

Our contract manufacturing also completed 3D metal printing

of a high value impellor for a major Australian Energy company.

The contract demonstrated AML3D’s unique ability to reduce

supply chain risk through the dependable and efficient supply of

on-demand replacement power plant parts. The Company now

supplies components to two energy sector customers creating an

important entry point for AML3D into this key target market.

Medium term value drivers – Oil and Gas, Marine,
Defence, Aerospace and Resource

We have also progressed our strategy to create medium term value by

expanding into the Marine, Defence, Aerospace and Resource sectors.

As part of this initiative, the Company hosted an in-person inspection

of AML3D’s facilities by the Tier 1 Defence and Aerospace company,

Boeing’s, Director of Global Additive Manufacturing in March 2022.

These efforts saw AML3D enter into a $140,000 purchase

agreement with Boeing in July 2022. The agreement covers

the manufacture of various aluminium test pieces and structural
components using AML3D’s WAM® technology. The testing and

validation of the components will form the basis of near-term future

contracts. The agreement follows an initial purchase contract

with Boeing for a mandrel tool artifact signed in June 2021.

Lloyd’s register. The 940kg monocoque piping spool demonstrator

component showcases AML3D’s capabilities in the subsea Oil

and Gas sector and creates an entry point into this new market.

Longer term value drivers –
Research and Development

Leveraging AML3D’s R&D work to create new opportunities,
enhanced technology-enabled solutions and branded products is
the key to unlocking longer-term value in the business. Significant
progress has been made across several AML3D R&D projects.

The Optimising of Scandium Containing Aluminium Alloys Project is
focussed on developing high strength, commercially viable, aluminium-
scandium compounds to create a high strength aluminium welding wire
to be used in AML3D’s WAM® process. The optimisation of aluminium-
scandium alloys has the potential to allow AML3D’s WAM® process to
create higher strength, industrial scale, aluminium components and
3D printed products, while removing the need for age hardening heat
treatment. The project also has the potential for AML3D to create and
supply a branded specialist aluminium-scandium wire feedstock product.

The Optimising of Scandium Containing Aluminium Alloys project is
being run in partnership with Deakin University’s, Institute for Frontier
Materials (IFM) and the Innovative Manufacturing Cooperative
Research Centre (IMCRC) and has met meet all expectations for
the delivery of high strength, corrosion resistant structures.

Following these excellent initial results the Project has been
extended to incorporate final repeatability commercial trials,
which is attracting interest from industry buyers. A successful
conclusion to the commercial trials is expected to lead to new
applications for WAM® across the Automotive, Resources and
broader Marine and Transport industries where there is demand
for high strength, corrosion resistant aluminium products.

AML3D is also working with IFM to complete a series of proof-
of-concept projects exploring the incorporation of Boron Nitride
Nanotubes (BNNTs) in AML3D’s WAM® technology. BNNT’s are
considered the world’s strongest fibres, which have the potential
to significantly enhance the ability of WAM® deposited alloys to
create much stronger, lighter, and more thermally and radiation-
resistant aluminium composites. Initial outcomes have been
positive, and the project has started to attract commercial interest
in the applications for the BNNT/aluminium composites

These R&D projects have the potential to significantly enhance
AML3D’s revenue prospects through increased opportunities in both
printer sales and contract manufacturing services. They also have the
potential to create new commercial applications across the space,
aerospace, marine, defence and transport industries, which could be
rolled out in AML3D’s current target markets of Asia Pacific (incl. Japan,
South Korea), Europe (Germany, France & UK), and North America.

Our medium-term value drivers also include expanding the products

and services we offer to our existing customers. AML3D is using
3D scanning capabilities in conjunction with its WAM® technology

to generate a digital virtual inventory library for our major Australian

Energy customer. This library will be used to reduce the customers

inventory overheads by allowing the on-demand manufacturing of

replacement components and also embed AML3D as a primary provider

of a range of spare parts, underpinning a future orders stream.

In line with the strategic objective of generating value over the

AML3D’s internal R&D focus remains firmly on our ‘Next
Generation’ high productivity ARCEMY® solution. The high
productivity ARCEMY® units are designed to print at a rate of
up to 30 kilograms and hour, that’s up to 5 times faster than our
current Arcemy Units, by making use of twin wire feeds.

The high productivity ARCEMY® solution is expected to reduce
production lead times and improve the commercial applications
of our process. The technology builds on AML3D’s Next-
Generation Hybrid Printing project with the CSIRO, which
developed a material strength prediction tool, to support the

medium term, AML3D printed the world’s largest metal Oil & Gas

creation of a higher quality, one stop production process.

AML3D Limited // ASX: AL3 // ABN 55 602 857 983AML3D is currently the only wire feedstock
based Additive Manufacturing company
accredited to produce Class certified
components made of “Steel for hull
structure and equipment; copper alloys
for valves, fittings and general applications
as per DNV’s rules”

Capital Management

The Company remains debt free and finished the
financial year with cash balance of $2.9 million.

Immediately following the end of the financial year, AML3D
successfully completed an equity issue to raise an additional $2.7
million (before costs), from the placement of 37,605,038 new shares.
This provides the Company with the necessary funding to:

• Accelerate our growth initiatives, following recent contract wins;

• Build on the existing business development team to bolster the

sales and marketing pipeline;

• Continue the enhancement of AML3D’s disruptive technology and

remain a market leader; and

• Meet the working capital demands of an upscaling business.

Events subsequent to FY2022

As announced on the 3rd of August 2022, AML3D has been awarded
the first Additive Manufacturing Facility accreditation with wire-feedstock,
from DNV, the world’s leading Marine & Industrial Classification Society.
The accreditation encompasses an “Approval of Manufacturer” (AoM)
certificate and demonstrates that AML3D’s WAM® technology meets the
enhanced ‘Class certification’ standards for Integrity and Quality that are
applied to critical components in the Oil & Gas and Marine industries.

The DNV facility accreditation follows the receipt of a DNV
verification certificate for the world’s largest 3D printed shipboard
fitting, a Panama Chook, manufactured by AML3D.

AML3D is currently the only wire feedstock based Additive
Manufacturing company accredited to produce Class certified
components made of “Steel for hull structure and equipment; copper
alloys for valves, fittings and general applications as per DNV’s rules”,
which operate in extreme load, pressure or corrosive environments.

Benefits of DNV Accreditation include:

• Advantages and differentiates AML3D when engaging in high

value parts tenders

• Extends the range of contracts and customers AML3D can
target in the Maritime, Oil & Gas and Navy/Defence Marine
organisations

Managing Director, Andy Sales

AS9100D standard will enhance our prospects of becoming a

preferred supplier to the aviation, space, and defence industries.

The combination of DNV and Lloyd’s register accreditation

with AS9100D certification closely aligns with AML3D’s growth

strategy to increase sales of existing products, access new

markets and sales and expand our potential customer base.

Board and Governance

In November 2021, the Board announced the retirements of its

former Chairman, Mr Stephen Gerlach and non-executive director

Mr Kevin Reid. The Board thanks Mr Gerlach and Mr Reid for their

contributions to the Company over the past few years, and in particular

guiding the Company through its early growth phase and IPO.

Following their retirements, the directors initiated a review of the

composition of the Board to ensure the Company’s leadership and

governance has the appropriate mix and depth of skills and experience

to achieve its strategy and growth ambitions. The Company advises

that this process is well advanced, with the Board having progressed

discussions with a number of very high-quality candidates.

Outlook

AML3D’s current order book will require our manufacturing facility

to operate at high capacity over the coming months. The key

production contract with Boeing, the ongoing customer support

being provided to Rowlands Metalworks and ST Engineering in

Singapore across a range of projects and work to allow a key

Tier 1 Oil and Gas customer to validate our WAM® technology’s

ability to create superior parts that address the customers supply

chain issues all require completion prior to the end of Q2FY23.

We would like to thank our very capable team that continues to work

tirelessly through these challenging times to ensure AML3D remains

on its path to further success and growth. They have demonstrated

resilience and dedication throughout this growth phase. We operate as

one team and have not wavered from our overarching goal of becoming

a leading diversified large-scale metal fabrication company globally.

• Ability to produce high quality parts for use in critical operations
within the Marine and Oil & Gas industries and issue ‘Class
Certification’ for critical components.

Finally, to our shareholders, thank you for supporting AML3D.

Your Board and management team are committed to pursuing

profitable and sustainable growth for the benefit of all stakeholders,

• Extends AML3D’s track record of delivering best in class, high

as we build upon the foundation created to date.

quality and integrity components

AML3D’s DNV accreditation builds on AML3D’s previous world first

wire-arc Additive Manufacturing facility certification by Lloyd’s Register.

AML3D remains committed to demonstrating the quality of its
products and services and is now focused on obtaining AS9100D
certification of our WAM® technology during FY23. Achieving the

Sean Ebert

Chairman

Andy Sales

Managing Director

AML3D Limited // ASX: AL3 // ABN 55 602 857 983Board

Sean Ebert //
BEng Hons(Electrical), MAICD
Chairman
Member of Audit & Risk Committee
Appointed as Director 30 August 2019
Appointed as Chairman 18 November 2021

Sean has 25 years of executive experience

in both public and private sectors

across high growth companies within

the engineering, FMCG and emerging

technologies sectors in Australia, China,

US and Europe. Sean is currently a

Non-Executive Director of listed company

Mighty Craft (ASX:MCL, appointed 19

July 2021), as well as Non-Executive

Director on a range of privately owned

Australian growth companies and

Executive Director of Venture Corporate

Advisory. Sean was previously the Chief

Executive Officer (CEO) of Beston Global

Food (ASX:BFC), Global Director M&A of

Worley, CEO of Camms Pty Ltd and CEO

of Profit Impact Pty Ltd. Sean brings listed

company and international experience to

AML3D, is a Member of the Institute of

Company Directors and holds a Bachelor

Degree in Engineering with honours.

The Board considers that Mr Ebert

is an independent Director.

Andrew Sales //
MEng, MSc, CEng, CMatP
Managing Director
Appointed 14 November 2014

Andrew is a Chartered Engineer

with a Master of Engineering and

Master of Science and is a renowned

expert in welding technology with

over 28 years of global experience

(Australia, Europe, South America,

Africa and Asia). Andrew has held

varying roles across upper management

and senior leadership within the oil

and gas, resources and mining sectors

as well as advanced manufacturing,

heavy engineering and fabrication.

He is also the author of numerous

technical papers in the field of welding

high strength corrosion resistant alloys.

In addition to Science and Engineering

qualifications at Masters level, he also

holds a Diploma in Quality Management

and Auditing. He is a Chartered

Engineer through ECUK and TWI (UK),

a professional member of Materials

Australia holding a CMatP, and also sits

on two Standards Australia committees

including the newly established

committee for Additive Manufacturing.

Andrew founded AML Technologies

in 2014 and has been Managing

Director since that time.

The Board considers that Mr Sales

is not an independent Director.

AML3D Limited // ASX: AL3 // ABN 55 602 857 983Leonard Piro //
BEc, DipCorpMgmt
Non-Executive Director
Chairman of Audit & Risk Committee
Appointed 30 August 2019

Len has extensive experience with major

manufacturing projects in Australia,

including the establishment of the

Tonsley site as a leading national and

international Innovation Precinct. He is

the former Deputy Chief Executive of the

SA Department of Trade and Economic

Development, Executive Director

Manufacturing and Chief Executive

Automotive Industry Transformation

Taskforce and Group Executive Director

and Chairman of the Tonsley Re-

development. As Director of Len Piro

Advisory, Len has consulted widely to

an extensive range of companies and

organisations in SA, from start-ups to

global companies, particularly around

business strategies and business planning

and has had extensive exposure to global

manufacturing trends. He is also a member

of the Advisory Board of Supashock

and Flinders University Institute for

NanoScale Science and Technology.

The Board considers that Mr Piro

is an independent Director.

Christine Manuel //
BMus, GradDipACG, DipCD,

DipInvRel, FGIA, FCG (CS, CGP),
MAICD, MAITD, AAIPM
Company Secretary
Appointed 17 April 2019

Christine is an experienced Company

Secretary and corporate governance

professional and has held Company

Secretary, non-executive director, CEO

and senior executive roles in a range

of listed and unlisted entities over

more than 25 years. She is Company

Secretary of several companies including

Angel Seafood Holdings Ltd (ASX:AS1

2017-2022) and was formerly Company

Secretary of Santos Group companies

and People’s Choice Credit Union.

Christine holds postgraduate qualifications

in Applied Corporate Governance and

is a Chartered Secretary and Chartered

Governance Professional. She is a non-

executive director of the Governance

Institute of Australia, and past SA/NT State

Council Chair. She regularly facilitates

Governance Institute training courses.

AML3D Limited // ASX: AL3 // ABN 55 602 857 983Directors’ Report

The Directors of AML3D Limited (AML3D or the

as aerospace, marine, defence, oil and gas, mining and general

Company) present their report, together with the financial

manufacturing which vary from high-end aerospace parts to

statements of the Company and its controlled entities (the

general engineering, with the value proposition being significant

Group) for the financial year ended 30 June 2022.

in the case of larger scale industrial grade and complex parts.

Directors

The following persons were Directors of the Company

during the financial year and to the date of this report:

Sean Ebert

Andrew Sales

Leonard Piro

Stephen Gerlach

Kevin Reid

Non-executive Chairman,

Appointed as Chairman

18 November 2021

Managing Director

Non-executive Chairman

Resigned 18 November 2021

Non-executive Director

Resigned 18 November 2021

Directors have been in office since the start of the financial

period to the date of this report unless otherwise stated.

Information Relating to Directors
and Company Secretary

In conjunction with its WAM ® technology, AML3D has

developed its own proprietary software, WAMSoft ®, which

combines metallurgical science and engineering design to

automate the 3D printing process utilising advanced robotics

technology. The WAMSoft ® software enables a highly tailored

approach to the needs of each client by enabling different

pathways and welding operations for different products and

materials. Depending on material type, thickness of part,

geometry and final size, the software identifies optimal path

Principal Activities

The principal activities of AML3D during

the financial year were to:

a. Design and construct ARCEMY ® 3D printing modules

for sale or right to use with an option to buy;

b. Design and construct 3D parts using Wire Additive

Manufacturing technology and to develop that technology;

c. Research and development into the refinement of the

companies products, including alternative applications.

Non-executive Director

models using an extensive library of weld bead geometries.

Details of each Director’s experience, qualifications and

No significant changes in the nature of the Company’s

responsibilities are set out on pages 6 to 7. This includes

activity occurred during the financial year.

information on other listed company directorships in the last

three years. The Company Secretary is Christine Manuel. Details

Operating and Financial Review

of her experience and qualifications are set out on page 7.

Review of Operations

Company Overview

The Company’s revenue was derived from:

AML3D is an Australian public company incorporated on

14 November 2014. The Company was admitted to the

Official List of ASX on 16 April 2020 and commenced trading

on ASX on 20 April 2020. AML3D is a welding, robotics,

metallurgy and software business which uses automated wire-

fed 3D printing in a large free-form environment to produce

metal components and structures for commercial use.

AML3D has commercialised its wire arc additive manufacturing
technology (under the trademark WAM ®), an innovative metal
additive manufacturing technology for the cost-effective production

of large, high performance metal components and structures.

AML3D’s proprietary WAM ® process is part of the spectrum
of 3D metal printing that focuses on larger industrial

a. ARCEMY ® sales with customers acquiring the ARCEMY ®

3D printing module for research and learning purposes, or

their own fabrication needs;

b. Contract manufacturing, which is fulfilling manufacturing

orders for customers using our ARCEMY ® 3D printing module;

and

c. Service and technical support for customers using our

ARCEMY ® 3D printing module.

During the year the Company delivered ARCEMY ® 3D

printing modules to both Queensland University and the

Royal Melbourne Institute of Technology. These units

will form part of the Universities’ additive manufacturing

curriculum with a significant number of student to be trained

applications with flexibility across multiple classes of metals

to use our technology, understand its potential uses and

including titanium alloys, nickel alloys and steel alloys.

potentially drive its adoption across our traget markets.

AML3D’s WAM ® technology combines electric arc as a heat
source with wire as a feedstock and welds sequential layers
of metal to produce near-net shape metal components. WAM ®
technology provides an alternative manufacturing and fabrication

The ARCEMY ® module delivered to ST Engineering in

June 2020, previously under a right-to-use with an option to

buy arrangement, was purchased outright during the

year. In addition, a highly specialised ARCEMY ® module

method for the production of components in industry sectors such

for iKAD Engineering was also delivered during FY22.

AML3D Limited // ASX: AL3 // ABN 55 602 857 983To date, A total of five proprietary ARCEMY ® industrial scale

• Build ARCEMY ® modules for customers looking to

3D metal printing units have now been sold and commissioned.

establish in-house 3D printing capability;

AML3D continues to work closely with Rowlands

Metalworks and ST Engineering to enhance their unit’s

capabilities in line with their customer requirements.

The Company has continued to develop its technology

including the printing of a range of metal pieces for use

in a variety of industries such as oil and gas, marine and

aerospace. Approximately 50% of revenue from contract

manufacture was obtained through local customers,

with the remainder generated through the South East

Asia and the United States of America regions.

• Grow recurring revenue through annual software licensing,

service and maintenance agreements and sale of wire

feedstock;

• Continue with our research and development activities to

refine and broaden our range of products and processes,

further developing our environmental sustainability

credentials by reviewing options for use of renewable

energy and lowering energy inputs with the aim of reducing
the carbon footprint of the WAM® process; and

• Build the global profile of AML3D and its products

through collaborations with learning institutions and key

Throughout the year, the Company has sought out

industry players. The Company will establish a Technology

new customers and markets and developed a pipeline

Advisory Group with participation from leading technical

of opportunities which will be built on in FY23.

institutions, reviewing and advising on current, future trends

Financial Results and Position

Revenue for the year was $2,014,828, an increase of over 200%
on the Prior Corresponding Period (PCP). Total revenue for the
year, inclusive of R&D tax offset and grants, was $2,604,349.

EBITDA was a loss of $4,158,702 (PCP: $5,108,666).
Overhead expenses of $5,322,291 were $673,655 lower on
PCP with the Company continuing to invest in activities in
accordance with its business plan. Director and employee
benefits were down $1,323,559 on PCP through aligning staff
headcount with current and expected medium term demand,
with research and development up $831,667 contributing
to the enhancement of existing and new technologies.

Having established the Adelaide facility during the prior financial
year, depreciation and amortisation was $721,119, up $311,974
on PCP. The resulting net loss after tax was $4,897,028 (PCP:
$5,515,272) with carried forward tax losses not brought to account.

At the end of the financial year, the Company had $2,933,482
in cash and cash equivalents on hand. $3,802,503 of cash
was used in operating activities during the financial year,

down $2,351,554 on cash consumed during the PCP.

Use of IPO funds

and developments in 3D metal printing globally.

AML3D currently has the only diversified large-scale WAM®

metal fabrication facility in the Southern Hemisphere that can

produce finished parts and components to a certified standard

under an accredited Quality Management System. With the

granting of Australian Patent 2019251514, this protection validates

the Company’s market leadership in advanced 3D printing

solutions and opens up new markets for our technology. These

are the advantage that the Company will look to leverage.

Material Business Risks

There are a number of material business risks which could affect

the Company’s ability to achieve its business strategies as follows.

Market Acceptance of New Technology

AML3D has commercialised its WAM ® technology and has
established a number of important relationships and research
collaborations. However, there can be no assurances that
the market will accept the WAM ® technology, given that it
is challenging traditional and well-tried processes such as
machining, casting and forging. WAM ® is a disruptive technology
in traditional manufacturing industries where many potential users
of WAM ® have existing sunk investments in existing processes.

In the period from admission to ASX on 16 April 2020 and

commencement of quotation of securities on ASX on 20 April

2020 until 30 June 2022, the Company has used the cash and

assets in a form readily convertible to cash that it had at the time

of admission in a way consistent with the Company’s business

Wire arc additive manufacturing is a new technology in a relatively
young industry of 3D metal printing. Widespread awareness-
raising of the advantages and value proposition associated
with the Company’s WAM ® technology will be required to
lift the profile of the technology and educate the market.

objectives, as outlined in the prospectus dated 10 February 2020.

Customer Conversion

Business Strategies and Prospects

The Company plans to build on the successes achieved

in FY22. The main areas of focus in FY23 will be to:

At present, the Company is at a paid trial stage with a number

of potential contract manufacturing clients. There can be no

guarantee that any of these paid trial customers will convert into

regular customer contracts. Although the Company’s client base is

• Pursue global business opportunities, focusing initially on

expected to diversify as a result of the expansion of the Company’s

creating customer and industry partnerships in high margin

revenue streams, the Company will initially be substantially reliant

sectors such as oil and gas, marine and defence;

on a select number of clients. The loss of any of these clients

AML3D Limited // ASX: AL3 // ABN 55 602 857 983The Board determines the Company’s risk
profile and is responsible for establishing,
overseeing and approving the Company’s
risk management framework, strategy
and policies, internal compliance and
internal control. The Board has delegated
to the Audit and Risk Committee the
responsibility for overseeing the risk
management system. The Company’s
risk management policy sets out the
requirements for the Company’s risk
management framework, the process
for identification and management

of risks and regular reviews.

Sustainability

AML3D is committed to developing
and maintaining sustainable and
environmentally conscious operations.
One of the benefits of AML3D’s
manufacturing process is that it generates
considerably less waste material than
traditional casting and machining
processes. Additive Manufacturing, with
wire feedstock, has also been shown
to have a lower carbon foot-print and
use less energy when compared to

may have a negative impact on the

to successfully undertake such

Risk Management

Company’s revenues and profits unless

research and development, anticipate

they can be replaced with new clients.

technical problems, or estimate

The Company’s future activities are

specifically designed around further

business development activities in order

research and development costs or

time frames accurately will adversely

affect the Company’s results.

to grow the client base in Australia,

Intellectual Property

Singapore, and other markets.

Reliance on Key Personnel

The responsibility of overseeing the

day-to-day operations and the strategic

management of the Company depends

substantially on its senior management,

technical experts and its Directors.

In particular, the technology and the

development of the ARCEMY® 3D

printing modules is largely due to the

The Company has been granted

Australian Patent 2019251514, along

with patents in South Korea and New

Zealand, which provides coverage

over the method and apparatus for

manufacturing 3D metal parts. Despite

the granting of the patent, it may not be

of commercial benefit to the Company,

or may not afford the Company adequate

protection from competing products.

experience of the Managing Director. The

Data Loss and Cyber Security

Company has reduced this risk by the

appointment of additional technical staff.

Access to Raw Materials

The Company requires access to markets

for its raw materials including titanium

alloys, nickel alloys, stainless steel,

aluminium alloys and bronze alloys in

order to manufacture components. If

the Company is unable to secure these

materials, this would likely have a material

adverse effect on the business and

financial performance of the Company.

Accreditation

The growth of AML3D contract

manufacturing services is dependent

on retaining Lloyd’s Register and ISO

9001 accreditation for the certification

of parts produced for its customers.

The Company is reliant on the security

of its network environment, vendor

environments and websites. Breaches

of security including hacking, denial of

service attacks, malicious software use,

internal Intellectual Property theft, data

theft or other external or internal security

threats could put the integrity and privacy

of customers’ data and business systems

conventional manufacturing processes.

used by the Company at risk which

could impact technology operations and

ultimately customer satisfaction with

the Company’s products and services,

leading to lost customers and revenue.

The Company has implemented

a Cyber Security system and will

continue to monitor its effectiveness.

Pandemic

Environmental Regulation

The Group’s activities are subject

to general environmental laws and

regulations relating to manufacturing

operations, in particular for the disposal

and storage of scrap and hazardous

materials. No breaches of environmental

regulation occurred during the financial

year and to the date of this report.

The loss of these accreditations would

To the date of this report, the Company’s

significantly impact the demand for

operations have been directly

AML3D’s contract manufacturing services.

adversely impacted by COVID-19.

Significant Changes in
the State of Affairs

Climate Change Risk

The Board is not aware of any

current material exposure to risks

brought about, or likely to be brought

about, by climate change.

Research & Development

and Technical Risk

The Company’s products and technology

are the subject of continuous research

and development which will likely need to

be developed further in order to enable

the Company to remain competitive,

increase sales and improve the scalability

Uncertainty remains as to the scope

There were no significant changes in

and length of the pandemic has, and the

the state of affairs of the Company

impact of restrictions that will be imposed

during the financial year.

to combat the pandemic. The pandemic

may result in the loss of or further delay

in sales to customers and potential

customers. It may also impact access

to equipment and supplies, delaying

the delivery of products to customers.

The Company is actively monitoring

risks associated with COVID-19 and

implementing risk management measures

to mitigate against potential impacts.

Environmental and Sustainability Risk

Significant Events after
the Balance Date

No matters or circumstances have

arisen since the end of the financial

year which significantly affected or may

significantly affect the operations of the

Group, the results of those operations,

or the state of affairs of the Group in

future financial years, other than:

i. On 20 July 2022, the Company

of products and technology. There are

The Board is not aware of any material

issued 37,605,038 ordinary shares

no guarantees that the Company will

exposure to economic, environmental

at $0.0714 per share via a private

be able to undertake such research

or social sustainability risks to which

placement to provide additional

and development successfully. Failure

the Company may be subject.

working capital.

AML3D Limited // ASX: AL3 // ABN 55 602 857 983ii. To the date of signing this report, the Company’s operations

Directors’ Shareholdings

have been directly adversely impacted by COVID-19.

Uncertainty remains as to the scope and length of the

pandemic and the impact of restrictions that will be imposed

to combat the pandemic. The pandemic may result in the

loss of or further delay in sales to customers and potential

customers. It may also impact access to equipment and

supplies, delaying the delivery of products to customers.

The Company is actively monitoring risks associated with

The following table sets out each Director’s relevant
interest in shares, debentures, and rights or options in
shares or debentures of the Company or a related body
corporate, including securities held directly, indirectly

or by related parties, as at the date of this report:

Director

Fully paid

ordinary shares

Share Options

COVID-19 and implementing risk management measures to

Sean Ebert

1,024,999

2,000,000

Andrew Sales

Leonard Piro

36,809,850

850,000

2,000,000

Further details of Directors’ security holdings, including

the numbers subject to escrow restrictions, are provided

in the Remuneration Report commencing on page 12.

Directors’ and Senior Executives’ Remuneration

Details of the Company’s remuneration policies and the

nature and amount of the remuneration for the Directors and

senior management (including shares, options and rights

granted during the financial year) are set out in the Remuneration

Report commencing on page 12 and in Notes 9 and 10 to the
financial statements.

mitigate against potential impacts.

Dividends

No dividends were declared or paid during the year.

Corporate Governance

The Board oversees the Company’s business and is responsible
for the overall corporate governance of the Company. It monitors
the operations, financial position and performance of the
Company and oversees its business strategy, including approving
the strategy and performance objectives of the Company.

The Board is committed to maximising performance and
generating value and financial returns for Shareholders. To
further these objectives, the Board has created a framework
for managing the Company, including the adoption of relevant
internal controls, risk management processes and corporate
governance policies and practices which the Board believes
are appropriate for the business and which are designed to
promote the responsible management and conduct of the
Company. To the extent relevant and practical, the Company has
adopted a corporate governance framework that is consistent
with the ASX Corporate Governance Council’s Corporate
Governance Principles and Recommendations (4th Edition).

The Company’s Corporate Governance Plan, including key

policies, is available on the Company’s website at www.aml3d.com

Directors’ Meetings

During the financial year, 29 meetings of Directors,
including Committees of Directors, were held. Attendances

by each Director during the year were as follows:

Board

Audit and Risk

Meetings

Committee Meetings

Eligible

Meetings

Eligible

Meetings

to attend

attended

to attend

attended

Directors

Sean
Ebert

Andrew
Sales

Leonard
Piro

Stephen
Gerlach

Kevin
Reid

AML3D Limited // ASX: AL3 // ABN 55 602 857 983

Remuneration
Report (audited)

The Directors of the Company present this Remuneration

1. Remuneration Governance

Report for the Group for the year ended 30 June 2022. The

information provided in this Report has been audited as

required by s308(3C) of the Corporations Act 2001 (Cth)

(Corporations Act) and forms part of the Director’s Report.

The Remuneration Report outlines the Company’s key

remuneration activities during the financial year ended 30 June

Consistent with the Board’s Charter, the Board has taken the

decision that at this early stage of the Company’s growth a

separate Remuneration and Nomination Committee is not

warranted. Accordingly, the Board as a whole carries out the

functions of the Remuneration and Nomination Committee,

as described in the Committee Charter. Where appropriate,

2022 and remuneration information pertaining to the Company’s

this is undertaken by Non-executive Directors only, without

Directors and senior management personnel who are the Key

the presence or participation of any Executive Director.

Management Personnel (KMP) of the Group for the purpose of

the Corporations Act and Accounting Standards. These are the
personnel who have authority and responsibility for planning,

Functions

The Board reviews any matters of significance affecting the

directing and controlling the activities of the Company.

remuneration of the Board and employees of the Company.

The report is structured as follows:

1. Remuneration Governance

2. Directors and Key Management Personnel (KMP)

3. Remuneration Policy

4. Remuneration Components

5. Relationship between Remuneration and Group

Performance

The primary remuneration purpose of the Board is to fulfil

its responsibilities to shareholders, including by:

a. Ensuring that the approach to executive remuneration

demonstrates a clear relationship between key executive

performance and remuneration;

b. Fairly and responsibly rewarding executives, having regard

to the performance of the Company, the performance of the

executive and the prevailing remuneration expectations in

6. Details of Directors’ and KMP Remuneration

the market;

7. Key Terms of Employment Contracts

8. Terms and Conditions of Share-based Payment

Arrangements

9. Directors’ and KMP Equity Holdings

10. Other Transactions with Directors and KMP

c. Reviewing the Company’s remuneration, recruitment,

retention and termination policies and procedures for senior

management;

d. Reviewing and approving any equity-based plans and other

incentive schemes;

e. Clearly distinguishing the structure of Non-executive

Director (NED) remuneration from that of executive

directors and senior executives, and recommending NED

remuneration to the Board;

f. Arranging the performance evaluation of the Board, its

Committees, individual Directors and senior executives on

an annual basis; and

g. Overseeing the annual remuneration and performance

evaluation of the senior executive team.

The Board has adopted protocols for engaging and seeking

advice from independent remuneration consultants.

Further information about remuneration structures
and the relationship between remuneration policy

and company performance is set out below.

The Board Charter and the Remuneration and Nomination

Committee Charter, which outline the terms of reference

under which the Committee operates, are available in the

Corporate Governance Plan at www.aml3d.com/investors.

AML3D Limited // ASX: AL3 // ABN 55 602 857 9832. Directors and Key Management Personnel (KMP)

Executive Remuneration

The directors and KMP of the Group during the year were:

Period of

Position

Responsibility in FY22

Non-executives

Sean
Ebert

Leonard
Piro

Stephen
Gerlach

Kevin
Reid

Full year. Appointed
as Chairman 18
November 2021

Full year

To 18 November 2021

Executives

Andrew
Sales

Hamish
McEwin

Full year

Independent Non-
executive Chairman

Independent Non-
executive Director

Independent Non-
executive Chairman

Independent Non-
executive Director

Managing Director, Chief
Executive Officer (CEO)

Chief Financial
Officer (CFO)

3. Remuneration Policy

The Company’s remuneration framework for Directors and

senior executives has been designed to remunerate fairly

and responsibly, balancing the need to attract and retain key

The Board reviews the executive structure and framework

on an annual basis to ensure that the remuneration

framework remains aligned to business needs. The Board

aims to ensure that remuneration practices are:

• Competitive and reasonable, enabling the Company to

attract and retain key talent; and

• Aligned to the Company’s strategic and business

objectives and the creation of shareholder value.

4. Remuneration Components

Non-Executive Directors

Non-executive Directors receive a fixed fee for their

participation on the Board. No additional fee is paid for

service on Board sub-committees. Directors do not receive

performance-based incentives but they are eligible, subject

to shareholder approval, for the grant of options that do

not include performance-based vesting criteria.

Non-Executive Director fees are determined by the Board

within an aggregate fee pool limit as approved by shareholders.

The current aggregate fee pool, as set out in the Constitution

in Rule 14.8 detailing initial fees to Directors, is $400,000.

In addition, Directors are eligible to participate in the

personnel with a prudent approach to management of costs.

Concessional Incentive Option Plan and the Performance

The Board’s policy for determining the nature and

Rights and Option Plan, subject to approval by shareholders.

amount of remuneration for Board members and

Executives

senior executives of the Company is as follows:

Executive remuneration comprises fixed remuneration (salary)

Non-Executive Director Remuneration

and may include short-term and long-term incentive plan

The Board aims to remunerate each Non-executive Director (NED)

components. These are set with reference to the Company’s

for their time, commitment and responsibilities at market rates

performance and the market. Fixed remuneration, which reflects

for comparable companies. The Board determines and reviews

the individual’s role and responsibility as well as their experience

the level of fees payable to Non-executive Directors annually,

based on market practice, duties and accountability and subject

to the maximum aggregate amount per annum as approved by

shareholders. Fees for Non-executive Directors are not linked

to the performance of the Group, other than participation in

share options (refer to section 8 for share option plans).

The Board approves a letter of appointment setting

out the key terms and conditions of appointment for

each Non-executive Director. Non-executive Directors

receive statutory superannuation guarantee payments

and skills, includes base pay and statutory superannuation.

Remuneration at risk may be provided through short-term and

long-term incentive plan components, linked to performance

measured against operational and financial targets set by

the Company, designed to achieve operational and strategic

targets for the sustainable growth of the Company and long-

term shareholder value. No short-term or long-term incentive

elements were implemented for KMP in the financial year

ended 30 June 2022 or to the date of this report. The Board will

and do not receive any other retirement benefits.

review the remuneration framework during the coming year.

AML3D Limited // ASX: AL3 // ABN 55 602 857 9835. Relationship between Remuneration and Group Performance

The Board aims to align executive remuneration to the Company’s

fixed remuneration in the context of balancing the requirements of

strategic and business objectives and the creation of shareholder

a rapidly growing and newly ASX-listed company and focussing

wealth. The table below sets out key metrics in respect of the

on strategic and business objectives to ensure shareholder value.

Group’s performance over the past five years. The remuneration

There are currently no short-term or long-term incentives on foot.

framework is designed to take account of a suitable level for the

Cash and cash equivalents

2,933,482

7,200,707

8,227,986

1,158,109

404,136

Net assets/equity

6,631,120

11,528,148

9,712,920

(113,666)

480,145

2022

2021

2020

2019

2018

Revenue

EBITDA

Loss from ordinary activities after

income tax expense

No of issued shares

Basic earnings per share (cents)2

Diluted earnings per share (cents)2

Share price at start of year (cents)1

Share price at end of year (cents)

2,014,828

644,486

288,516

36,057

4,065

(4,158,702)

(5,108,666)

(3,008,192)

(595,966)

(26,298)

(4,897,029)

(5,515,272)

(3,094,021)

(680,836)

(50,301)

150,458,386

132,366,163

12,320,250

11,782,750

(3.3)

0.205

0.052

(3.8)

0.155

0.205

(3.8)

0.20

0.155

(1.3)

N/A

(0)

N/A

Market capitalisation (Undiluted)

7,823,836

30,843,969

20,516,755

Interim and final dividend (cents)

N/A

1. The Company was incorporated in 2014 as a proprietary company

2. Basic earnings per share and diluted earnings per share have

and was changed to an unlisted public company on 5 December

been retrospectively restated to account for a capital restructure of

2019. Share price at start of FY20 is shown as at commencement

shares. A capital reconstruction was undertaken on 29 July 2019

of ASX quotation on 20 April 2020 following admission to the official

and 4.2348 shares were issued for every 1 share. The number of

list of ASX on 16 April 2020, based on the value of shares taken up

shares issued in the previous financial periods have been multiplied

pursuant to the prospectus.

by 4.2348 for the purpose of EPS calculation.

AML3D Limited // ASX: AL3 // ABN 55 602 857 9836. Directors’ and KMP Remuneration

Remuneration for the financial year ended 30 June 2022

Short-term employee benefits

y
r
a
l
a
S

s
e
e
F
&

e
v
i
t
n
e
c
n

m
r
e
t
-
t
r
o
h
S

e
v
a
e
l

l
a
u
n
n
A

e
v
a
e
L

e
c
i
v
r
e
S
g
n
o
L

Post-

employment

-
r
e
p
u
S

n
o

i
t
a
u
n
n
a

Share-based payments

s
e
r
a
h
S

s
n
o

i
t
p
O

-
e
r
a
h
s
l
a
t
o
T

s
t
n
e
m
y
a
p
d
e
s
a
b

n
o

i
t
a
n
m
r
e
T

s
t
fi
e
n
e
b

m
r
e
t
-
g
n
o

r
e
h
t
O

l
a
t
o
T

’
k
s
i
r

t
a
‘

Non-executive Directors

Sean
Ebert1

Leonard

Piro

Stephen
Gerlach2

Kevin
Reid3

51,667

40,000

25,000

16,667

Subtotal

133,334

Executives

Andrew

Sales

Hamish

McEwin

220,042

228,311

Subtotal

448,353

TOTAL

581,687

5,167

4,000

2,500

1,667

13,334

(7,714)

24,739

21,900

7,465

22,831

(249) 24,739

44,731

(249) 24,739

58,065

56,834

44,000

27,500

18,334

146,668

258,967

258,607

517.574

664,242

1. Appointed as Chairman 18 November 2021.

2. Resigned 18 November 2021.

3. Resigned 18 November 2021

AML3D Limited // ASX: AL3 // ABN 55 602 857 983

Remuneration for the financial year ended 30 June 2021

Short-term employee benefits

e
v
a
e
l

l
a
u
n
n
A

r
e
h
t
O

Post-

employment

-
r
e
p
u
S

n
o

i
t
a
u
n
n
a

Share-based payments

s
e
r
a
h
S

1
s
n
o

i
t
p
O

l
a
t
o
T

s
t
n
e
m
y
a
p

d
e
s
a
b
-
e
r
a
h
s

r
e
h
t
O

m
r
e
t
-
g
n
o

n
o

i
t
a
n
m
r
e
T

y
r
a
l
a
S

s
e
e
F
&

m
r
e
t
-
t
r
o
h
S

e
v
i
t
n
e
c
n

Non-executive Directors1

Stephen

Gerlach

Sean
Ebert1

Leonard

Piro

Kevin

Reid

60,000

178,335

40,000

Subtotal

318,335

Executives1

Andrew

Sales

Hamish
McEwin2

Benjamin
Hodgson3

Karsten
Bartnicki4

219,278

75,518

164,626

118,385

Subtotal

577,807

TOTAL

896,142

19,766

1,418

21,184

5,700

3,800

17,100

20,831

7,174

11,035

39,040

56,140

s
t
fi
e
n
e
b

l
a
t
o
T

’
k
s
i
r

t
a
‘

65,700

182,135

43,800

335,435

259,875

84,110

164,626

129,420

638,031

973,466

1. Salary and fee remuneration for Sean Ebert

2. Appointed 1 March 2021.

comprised Non-executive Director fees of

$40,000 as well as $138,335 (ex GST) paid

to his controlled entity, Ebert Industries

Pty Ltd, for consultancy services and his

services as an Executive Director.

3. Services were provided by Benjamin

Hodgson through his controlled entity,

Philhodge Business Services Pty Ltd. This

agreement was terminated 1 March 2021.

4. Appointed 18 January 2021.

Resigned 26 May 2021.

AML3D Limited // ASX: AL3 // ABN 55 602 857 983

7. Key Terms of Employment Contracts

Executives

Non-Executive Directors

Managing Director

The Company has entered into Non-Executive Director letters

The Company has entered into an executive services agreement

of appointment with each of Stephen Gerlach, Leonard Piro,

Kevin Reid and Sean Ebert (Letters of Appointment). Each of

the Letters of Appointment provide that amongst other things,

in consideration for their services, the Company will pay the

following fees, exclusive of statutory superannuation:

Chairman:

$60,000 per annum

with Andrew Sales, whereby he was engaged as the Managing

Director and Chief Executive Officer (Managing Director) of the

Company. Andrew Sales receives a base salary of $220,000 per

annum (exclusive of superannuation) for services rendered under

the executive services agreement. The Company will also, subject

to certain conditions, reimburse the Managing Director for all

reasonable travelling intra/interstate or overseas, accommodation

Non-Executive Directors:

$40,000 per annum

and general expenses incurred in the performance of all duties

Each Non-Executive Director is also entitled to be reimbursed

reasonable expenses incurred in performing their duties.

The appointment of the Non-Executive Directors is subject to

the provisions of the Constitution and the ASX Listing Rules

relating to retirement by rotation and re-election of directors. The

appointment of a Non-Executive Director will automatically cease

at the end of any meeting at which the relevant Director is not

re-elected as a Director by shareholders. A Director may terminate

in connection with the business of the Company. There is no

short-term or long-term incentive component to his remuneration.

The termination provisions in the executive services agreement

are on standard commercial terms and generally require a

minimum period of notice prior to termination. In the event

that the Company elects to terminate the executive services

agreement without reason, it must pay the Managing

Director the salary payable over a six-month period.

their directorship at any time by advising the Board in writing.

Chief Financial Officer

The Letters of Appointment otherwise contain terms and

The Company has entered into an executive services agreement

conditions that are considered standard for agreements

with Hamish McEwin, whereby he was engaged as the Chief

of this nature and are in accordance with the ASX

Financial Officer (CFO) of the Company. Hamish McEwin

Corporate Governance Council’s Corporate Governance

receives a base salary of $250,000 per annum (inclusive of

Principles and Recommendations (4th Ed).

superannuation) for services rendered under the executive

services agreement. The Company will also, subject to certain

conditions, reimburse the CFO for all reasonable travelling

intra/interstate or overseas, accommodation and general

expenses incurred in the performance of all duties in connection

with the business of the Company. There is no short-term

or long-term incentive component to his remuneration.

The termination provisions in the executive services

agreement are on standard commercial terms and generally

require a minimum period of notice prior to termination.

In the event that the Company elects to terminate the

executive services agreement without reason, it must pay

the CFO the salary payable over a three-month period.

AML3D Limited // ASX: AL3 // ABN 55 602 857 983
18

AML3D Limited // ASX: AL3 // ABN 55 602 857 9838. Terms and Conditions of

Share-based Payment Arrangements

No share-based payments were made during the current

financial year (2021: Nil).

Concessional Incentive Option Plan

The key terms of the Concessional Incentive Option Plan are

as follows:

Eligibility

Employees, contractors or directors (Participants)

The Board may in its absolute discretion make a

written offer to any Participant to apply for options

Offers

upon the terms set out in the Concessional

Incentive Option Plan and upon such additional

terms and conditions as the Board determines.

Vesting

Conditions

Options may be made subject to vesting

conditions. Options will only vest while

the Participant remains employed,

engaged or is an officer of the Company.

Where a Participant becomes a:

• Good Leaver, unless the Board in

its sole and absolute discretion determines

otherwise, unvested options will lapse

and vested options that have not been

exercised will remain exercisable for

a period of three months;

• Bad Leaver, unvested options will lapse

and subject to the discretion of the Board,

vested options that have not been exercised

will lapse on the date of cessation of

employment, engagement or office of

the Participant.

Disposal restrictions apply, including either

Disposal

three years after the date of issue of the option or

when the option holder ceases to be a Participant.

Details of the Concessional Incentive Option Plan were included

in the Company’s Prospectus and a copy of the Plan was released

to the ASX market announcements platform on 16 April 2020.

A copy of the Concessional Incentive Option Plan is available

on the Company’s website at www.aml3d.com/investors.

Performance Rights and Option Plan

A Performance Rights and Option Plan is also in place to

accommodate future long-term remuneration incentives but

as at the date of this report no grants of performance rights

or options have been made pursuant to this plan. Details of

the Performance Rights and Option Plan were included in the

Company’s Prospectus and a copy of the Plan was released

to the ASX market announcements platform on 16 April 2020.
A copy of the Performance Rights and Option Plan is available

on the Company’s website at www.aml3d.com/investors.

AML3D Limited // ASX: AL3 // ABN 55 602 857 98320

AML3D Limited // ASX: AL3 // ABN 55 602 857 9839. Directors’ and KMP Equity Holdings

Details of the number of ordinary shares held by Directors and KMP in the Company are set out below. This includes

shares held directly, indirectly or beneficially by Directors and KMP, including related party holdings.

Balance at 1 Jul 2021

Purchased

Sold

Other Changes Balance at 30 Jun 2022

Non-executive Directors

Sean Ebert

1,024,999

Leonard Piro

Stephen Gerlach1

Kevin Reid1

Executives

Andrew Sales

TOTAL

850,000

300,001

75,001

40,311,250

42,561,251

1. Resigned 18 November 2021

(300,001)

(75,001)

1,024,999

850,000

40,311,250

(375,002)

42,186,249

Details of the number of options held by Directors and KMP in the Company are set out below. This includes

options held directly, indirectly or beneficially by Directors and KMP, including their related parties.

Balance at

1 July 2021

Granted Purchased

Options

Expired/

Other

Balance at

Exercised

Lapsed

Changes

30 June 2022

Vested

Unvested

Non-executive Directors

Sean Ebert

2,000,000

Leonard Piro

2,000,000

Stephen Gerlach1

2,500,000

Kevin Reid1

500,000

TOTAL

7,000,000

1. Resigned 18 November 2021

2,000,000

(2,500,000)

(500,000)

(3,000,000)

4,000,000

Terms of the options granted to Directors are provided in section 8 of this report, above.

10. Other Transactions with Directors and KMP

There have been no transactions with Directors and KMP other

than those described in this Remuneration Report.

Related Party Transactions

Details of transactions with related parties including KMP are

provided at Note 26 to the financial statements.

-- End of Remuneration Report --

AML3D Limited // ASX: AL3 // ABN 55 602 857 983Options and Share Rights

Holders of options and share rights do not have any rights

to participate in any issue of shares or other interests of the

Company or any other entity.

During the financial year ended 30 June 2022, no

options were issued (2021: nil). No shares were

issued on the exercise of options during the financial

year ended 30 June 2022 (2021: 2,536,666).

No share rights were issued during the financial

year ended 30 June 2022 (2021: Nil).

In accordance with the Constitution, the Company has entered

into Deeds of Indemnity in favour of each of the current Directors

and Company Secretary. The indemnities operate to the full

extent permitted by law. The Company is not aware of any liability

having arisen, and no claims have been made during or since the

financial year ending 30 June 2022 under the Deeds of Indemnity.

The Company’s subsidiary, AML Technologies (Asia) Pte Limited

has provided a letter of indemnity to its Company Secretary.

The Company has not otherwise, during or since the

end of the financial year, except to the extent permitted

by law, indemnified or agreed to indemnity an officer or

As at the date of this report, the unissued ordinary shares of

auditor of the Company or of any related body corporate

the Company under option are as follows.

against a liability incurred as such an officer or auditor.

Grant date

Expiry Date

Exercise

Number of

Price

Options

30 July

2019

30 July 2023

$0.30

2,000,000

4 December

2019

Total

2024

$0.30

7,500,000*

9,500,000

* Comprises 4,000,000 options issued to Directors,

3,000,000 options issued to former Directors and

500,000 options issued to the Company Secretary

There have been no options or share rights granted

over unissued shares or interests of the controlled entity

within the Group during or since the reporting period.

Proceedings on behalf of the Company

No person has applied for leave of Court to bring proceedings

on behalf of the Company or intervene in any proceedings

to which the Company is party for the purpose of taking

responsibility on behalf of the company for all or any part

of those proceedings. The Company was not a party to

any such proceedings during the financial year.

Indemnification and Insurance of Officers or Auditor

During the financial year, in accordance with the provisions of

the Company’s Constitution, the Company paid a premium in

respect of a contract insuring the Directors of the Company, the

Company Secretary and all Executive Officers of the Company

against a liability incurred as such a director, secretary or

executive officer to the extent permitted by the Corporations

Act 2001 (Cth). The contract of insurance prohibits disclosure

of the nature of the liability and the amount of the premium.

Non-Audit Services

The Board is satisfied that the provision of non-audit services

by its auditor, William Buck, during the year is compatible with

the general standard of independence for auditors imposed

by the Corporations Act 2001. The Directors are satisfied that

the non-audit services provided by the auditors during the

year did not compromise the external auditor’s independence.

The fees paid or payable to William Buck for non-audit

services are set out in Note 11 of the financial report. The

non-audit services provided were tax compliance services.

Auditor’s Independence Declaration

The Auditor’s Independence Declaration is included on page 23,

of this annual report.

This Directors’ Report is signed in accordance with a resolution of

Directors made pursuant to s298(2) of the Corporations Act 2001.

On behalf of the Directors

Sean Ebert
Chairman

30 August 2022

AML3D Limited // ASX: AL3 // ABN 55 602 857 983Auditor
Independence
Declaration

AUDITOR’S INDEPENDENCE DECLARATION UNDER SECTION 307C OF THE
CORPORATIONS ACT 2001 TO THE DIRECTORS OF AML3D LIMITED

I declare that, to the best of my knowledge and belief, during the year ended 30 June 2022
there have been:

— no contraventions of the auditor independence requirements as set out in the

Corporations Act 2001 in relation to the audit; and

— no contraventions of any applicable code of professional conduct in relation to the

audit.

William Buck (SA)
ABN: 38 280 203 274

M.D. King
Partner

Dated this 30th day of August, 2022 in Adelaide, South Australia.

AML3D Limited // ASX: AL3 // ABN 55 602 857 983

AML3D Limited
Independent auditor’s report to members

Report on the Audit of the Financial Report

Opinion

We have audited the financial report of AML3D Limited (the Company) and its subsidiary
(together, the Group), which comprises the consolidated statement of financial position as
at 30 June 2022, the consolidated statement of loss and other comprehensive income, the
consolidated statement of changes in equity and the consolidated statement of cash flows
for the year then ended, and notes to the financial statements, including a summary of
significant accounting policies and other explanatory information, and the directors’
declaration.

In our opinion, the accompanying financial report of the Group, is in accordance with the
Corporations Act 2001, including:
(i) giving a true and fair view of the Group’s financial position as at 30 June 2022 and of

its financial performance for the year ended on that date; and

(ii) complying with Australian Accounting Standards and the Corporations Regulations

2001.

Basis for Opinion

We conducted our audit in accordance with Australian Auditing Standards. Our
responsibilities under those standards are further described in the Auditor’s Responsibilities
for the Audit of the Financial Report section of our report. We are independent of the Group
in accordance with the auditor independence requirements of the Corporations Act 2001 and
the ethical requirements of the Accounting Professional and Ethical Standards Board’s
APES 110 Code of Ethics for Professional Accountants (including Independence Standards)
(the Code) that are relevant to our audit of the financial report in Australia. We have also
fulfilled our other ethical responsibilities in accordance with the Code.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide
a basis for our opinion.

Key Audit Matters

Key audit matters are those matters that, in our professional judgement, were of most
significance in our audit of the financial report of the current period. These matters were
addressed in the context of our audit of the financial report as a whole, and in forming our
opinion thereon, and we do not provide a separate opinion on these matters.

AML3D Limited // ASX: AL3 // ABN 55 602 857 983

KEY AUDIT MATTER

Research and development expenditure -
existence and valuation. Refer also to
notes 3(i) and 12.

The Group incurs significant amounts of
research and development costs each year. In
2022 these costs amounted to $1,559,617.

Each year the Group makes an assessment as
to the amount it expects to claim from the
Australian Government by the way of a
Research & Development Tax Offset Refund. At
30 June 2022 the amount disclosed as a current
trade and other receivable in relation to the
refund is $462,374.

Overall due to the high level of judgement
involved, and the significant carrying amount
involved, we have determined that this is a key
audit matter area that our audit concentrated on.

How our audit addressed it

Our audit procedures included:

‒ A detailed evaluation of the Group’s research and

development strategy;

‒ Testing the costs incurred;

‒ Engaging our own taxation specialists to consider
the appropriateness of the Group's substantiation
for the claim;

‒ Reviewing the historical accuracy by comparing
the original

refunds with

actual Tax offset
estimations.

We assessed the adequacy of the Group's disclosures
in respect of the transactions.

KEY AUDIT MATTER

Revenue recognition. Refer also to notes
2(j) and 6.

The Group derives income from the following:

How our audit addressed it

Our audit procedures included:

- Sale of the ARCEMY 3D printing module
- Contract manufacturing for customers
using owned ARCEMY 3D printing
modules

- Contract service or technical support for
customers using owned ARCEMY 3D
printing modules

Each revenue stream requires a bespoke
that
revenue
revenue is only recognised

recognition model

to ensure

— When a performance milestone is achieved;

and

— It can reliably be measured;

The application of AASB 15 Revenue from
Contracts with Customers can require
judgement, thus we considered this area to be a
key audit matter.

— determining whether revenue recognised is in
accordance with the Group’s accounting policies;

— Identifying and verifying

the achievement of
performance milestones and recognition of revenue
relative to that achievement;

— Examining the existence of revenue by testing both
the contract and subsequent receipt of invoicing of
the revenue to the customer;

— Substantively

testing revenue cut-off and

the
income in advance balance to ensure revenue has
been recognised in the correct period.

We also assessed the appropriateness of disclosures
attached
to revenues as required by Accounting
Standard AASB 15 Revenue from Contracts with
Customers.

AML3D Limited // ASX: AL3 // ABN 55 602 857 983

KEY AUDIT MATTER

Liquidity and capital management
Refer also to note 2(r).

To support the basis of preparation of the
financial statements, the Group has prepared a
forecast of its cash flows, which includes a
number of significant assumptions about sales
and production and estimates of cash outflows.

The Group has incurred significant losses in the
current and prior financial year. We also noted a
significant decline in the net current asset
position of the Group as at 30 June 2022. As a
result, our assessment of liquidity and capital
management as it relates to the basis of
preparation of the financial statements is
considered a key audit matter.

We note that subsequent to 30 June 2022, the
Group successfully raised $2.85 million from a
private capital initiative. This has been factored
into the Group’s cash flow forecast and
consideration on going concern.

How our audit addressed it

We assessed the main assumptions in the Group’s
cash flow forecast for at least 12 months from the
date of signing the auditor’s report, by performing the
following procedures, amongst others:

— Evaluating the assumptions used in
management’s cash flow forecasts;

— Compared actual revenue and cost outcomes for
the prior period and the current year to date to
Group forecasts;

— Ensuring that all committed capital purchases

and future capital raising initiatives are taken into
consideration.

We evaluated the Group’s potential opportunities for
cash conservation as well as options for raising
additional funds.

We also considered the appropriateness of the
liquidity risk disclosures included within the financial
statements.

Other Information

The directors are responsible for the other information. The other information comprises the information in
the Group’s annual report for the year ended 30 June 2022, but does not include the financial report and the
auditor’s report thereon.

Our opinion on the financial report does not cover the other information and we do not express any form of
assurance conclusion thereon.

In connection with our audit of the financial report, our responsibility is to read the other information and, in
doing so, consider whether the other information is materially inconsistent with the financial report or our
knowledge obtained in the audit or otherwise appears to be materially misstated.

If, based on the work we have performed, we conclude that there is a material misstatement of this other
information, we are required to report that fact. We have nothing to report in this regard.

AML3D Limited // ASX: AL3 // ABN 55 602 857 983

Responsibilities of the Directors for the Financial Report

The directors of the Company are responsible for the preparation of the financial report that gives a true and
fair view in accordance with Australian Accounting Standards and the Corporations Act 2001 and for such
internal control as the directors determine is necessary to enable the preparation of the financial report that
gives a true and fair view and is free from material misstatement, whether due to fraud or error.

In preparing the financial report, the directors are responsible for assessing the ability of the Group to continue
as a going concern, disclosing, as applicable, matters related to going concern and using the going concern
basis of accounting unless the directors either intend to liquidate the Group or to cease operations, or has no
realistic alternative but to do so.

Auditor’s Responsibilities for the Audit of the Financial Report

Our objectives are to obtain reasonable assurance about whether the financial report as a whole is free from
material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion.
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with the Australian Auditing Standards will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate,
they could reasonably be expected to influence the economic decisions of users taken on the basis of this
financial report.

A further description of our responsibilities for the audit of these financial statements is located at the Auditing
and Assurance Standards Board website at:

https://www.auasb.gov.au/admin/file/content102/c3/ar1_2020.pdf

This description forms part of our independent auditor’s report.

Report on the Remuneration Report

Opinion on the Remuneration Report

We have audited the Remuneration Report included in pages 12 to 22 of the directors’ report for the year
ended 30 June 2022.

In our opinion, the Remuneration Report of AML3D Limited, for the year ended 30 June 2022, complies with
section 300A of the Corporations Act 2001.

AML3D Limited // ASX: AL3 // ABN 55 602 857 983

Responsibilities

The directors of the Company are responsible for the preparation and presentation of the Remuneration
Report in accordance with section 300A of the Corporations Act 2001. Our responsibility is to express an
opinion on the Remuneration Report, based on our audit conducted in accordance with Australian Auditing
Standards.

William Buck (SA)
ABN: 38 280 203 274

M.D. King
Partner

Dated this 30th day of August, 2022 in Adelaide, South Australia.

AML3D Limited // ASX: AL3 // ABN 55 602 857 983

Financial
Statements

Consolidated Statement of Loss and
Other Comprehensive Income

Consolidated Statement of Financial Position 31

Consolidated Statement of Changes in Equity 32

Consolidated Statement of Cashflows

Notes to Financial Statements

Directors Declaration

AML3D Limited // ASX: AL3 // ABN 55 602 857 983Consolidated Statement of Loss and Other Comprehensive Income

For the year ended 30 June 2022

Revenue

Cost of goods sold

Gross profit

R&D Tax Offset

Government grants

Gain on disposal of property, plant and equipment

Interest received

Depreciation and amortisation

Director and employee benefits

Interest expense

Marketing expenses

Occupancy costs

Professional fees expense

Research and development

Workshop expenses

Equity settled share based payments

Other expenses

Loss before income tax expense

Income tax

Note

2022
$

2,014,828

(1,478,626)

536,202

565,425

24,096

37,865

6,972

(721,119)

2021
$

644,486

(357,144)

287,342

416,521

183,417

20,350

(409,145)

(1,792,048)

(3,115,607)

(24,179)

(148,176)

(126,884)

(873,541)

(1,559,617)

(207,882)

(17,811)

(163,178)

(197,480)

(837,685)

(727,950)

(344,216)

(614,142)

(609,830)

(4,897,028)

(5,515,272)

Loss after tax attributable to the owners of the Company

(4,897,028)

(5,515,272)

Other comprehensive (loss) net of tax

Total comprehensive loss for the year attributable to the

owners of the Company

(4,897,028)

(5,515,272)

Basic and diluted loss per share (cents)

(3.3)

(3.8)

The Consolidated Statement of Loss and Other Comprehensive Income

should be read in conjunction with the accompanying notes, which form

an integral part of the financial report.

AML3D Limited // ASX: AL3 // ABN 55 602 857 983Consolidated Statement of Financial Position

As at 30 June 2022

Note

2022
$

2021
$

ASSETS

CURRENT ASSETS

Cash and cash equivalents

Trade and other receivables

Inventory

Other financial assets

Other assets

TOTAL CURRENT ASSETS

NON-CURRENT ASSETS

Property, plant and equipment

Right of use assets

Intangible assets

TOTAL NON-CURRENT ASSETS

TOTAL ASSETS

LIABILITIES

CURRENT LIABILITIES

Trade and other payables

Contract liabilities

Borrowings

Lease liabilities

Employee benefits

TOTAL CURRENT LIABILITIES

NON-CURRENT LIABILITIES

Lease Liabilities

Employee benefits

TOTAL NON-CURRENT LIABILITIES

TOTAL LIABILITIES

NET ASSETS

EQUITY

Issued capital

Accumulated losses

Reserves

TOTAL EQUITY

The Consolidated Statement of Financial Position should be read in

conjunction with the accompanying notes, which form

an integral part of the financial report.

30(a)

2,933,482

771,534

905,985

56,000

221,404

7,200,707

522,857

2,031,657

56,000

224,484

4,888,405

10,035,705

2,575,201

2,770,639

347,836

47,479

2,970,516

7,858,921

537,556

62 ,151

3,370,346

13,406,051

510,239

5,624

189,062

175,025

128,907

777,339

451,028

178,803

109,626

1,008,857

1,516,796

185,818

33,126

218,994

1,227,801

6,631,120

361,107

1,877,903

11,528,148

23(a)

23(d)

20,641,272

(14,683,117)

(9,786,089)

672,965

6,631,120

672,965

11,528,148

AML3D Limited // ASX: AL3 // ABN 55 602 857 983Consolidated Statement of Changes in Equity

For the year ended 30 June 2022

Balance at 1 July 2020

13,310,772

672,965

(4,270,817)

9,7132,920

Issued Capital
$

Share Options
Reserve
$

Accumulated
Losses
$

Total Equity
$

Loss after income tax expense for the year

Shares issued during the year, net of transaction costs

6,569,500

761,000

(5,515,272)

6,569,500

761,000

20,641,272

672,965

(9,786,089)

11,528,148

Share options issued

Balance at 30 June 2021

Balance at 1 July 2021

20,641,272

672,965

(9,786,089)

11,528,148

Loss after income tax expense for the year

Shares issued during the year, net of transaction costs

Options exercised during the year

(4,897,028)

(4,897,029)

Balance at 30 June 2022

20,641,272

672,965

(14,683,117)

6,631,120

The Consolidated Statement of Changes in Equity should be read in conjunction with the accompanying notes,

which form an integral part of the financial report.

Consolidated Statement of Cash Flows

For the year ended 30 June 2022

CASH FLOWS FROM OPERATING ACTIVITIES

Receipts from customers

Receipts from Government grants

Receipts from R&D tax incentive

Payments to suppliers and employees

Interest received

Finance costs

Note

2022
$

2021
$

1,453,591

1,248,336

29,049

512,850

546,726

565,261

(5,779,930)

(8,519,717)

6,117

(24,179)

23,148

(17,811)

Net cash (used in) operating activities

30(b)

(3,802,503)

(6,154,057)

CASH FLOWS FROM INVESTING ACTIVITIES

Proceeds from the sale of property, plant and equipment

Payments for intangible assets

Payment for financial assets

Purchase of plant and equipment

Net cash (used in) investing activities

CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds from the issues of shares, net of costs

Repayment of borrowings

Repayment of lease liabilities

Net cash (used in) provided by financing activities

Net (decrease) in cash and cash equivalents held

Cash and cash equivalents at the beginning of year

Cash and cash equivalents at end of financial year

30(a)

The Consolidated Statement of Cash Flows should be read in conjunction with the accompanying notes,

which form an integral part of the financial report.

58,500

(9,315)

(321,207)

(272,022)

10,000

(23,633)

(179,067)

(192,700)

(32,471)

(20,000)

(1,980,928)

(2,033,399)

7,289,100

(128,923)

7,160,177

(4,267,225)

(1,027,279)

7,200,707

2,933,482

8,227,986

7,200,707

AML3D Limited // ASX: AL3 // ABN 55 602 857 983Notes to the Financial Statements

For the year ended 30 June 2022

1. General Information

c. Taxation

Income Tax

The income tax expense/(income) of the year comprises

current income tax expense/(income) and deferred tax

AML3D Limited (AML3D or the Company) is a limited liability company

expense/(income).

incorporated in Australia, whose shares are listed on the ASX.

Current income tax expense/(income) charged to the profit

The financial statements were authorised for issue by the directors

or loss is the tax payable on taxable income calculated

on 30 August 2022. The Directors have the power to amend and

using applicable income tax rates enacted, or substantially

reissue the financial statements.

The financial statements comprise the consolidated financial

statements of the Company and its controlled entity (the Group).

enacted, as at reporting date. Current tax liabilities (assets)

are therefore measured at the amounts expected to be paid

to (recovered from) the relevant taxation authority.

The principle accounting policies adopted in the preparation

Deferred income tax expense reflects movements in

of these consolidated financial statements are set out below

deferred tax assets and deferred tax liabilities during the

or included in the accompanying notes. Unless otherwise

year as well as unused tax losses.

stated, these policies have been consistently applied to all

the years presented.

2. Statement of Significant Accounting Policies

a. Basis of Preparation

These general purpose financial statements have been

prepared in accordance with Australian Accounting
Standards and Interpretations of the Australian Accounting

Deferred tax assets and liabilities are ascertained based

on temporary differences arising between the tax bases

of assets and liabilities and their carrying amounts in the

financial statements. Deferred tax assets also result where

amounts have been fully expensed but future tax deductions

are available. No deferred income tax will be recognised

from the initial recognition of an asset or liability, excluding

a business combination, where there is no effect on

Standards Board and the Corporations Act 2001 (Cth). The

accounting or taxable profit and loss.

Company is a for profit entity for the purpose of preparing

the financial statements.

The consolidated financial statements of AML3D comply

with International Financial Reporting Standards issued by

the International Accounting Standards Board (IASB).

The consolidated financial statements have been prepared

on an accruals basis, except for cashflow information and

are based on historical costs, except for the circumstances

Deferred tax assets and liabilities are calculated at the

tax rates that are expected to apply to the period when

the asset is realised or the liability is settled, based on tax

rates enacted or substantially enacted at reporting date.

Their measurement also reflects the manner in which

management expects to recover or settle the carrying

amount of the related asset or liability.

Where temporary differences exist in relation to investments

where the fair value method has been applied as detailed in

in subsidiaries, branches, associates, and joint ventures,

these accounting policies.

The financial statements have been prepared on a going

concern basis which contemplates the continuity of normal

business activity and the realisation of assets and the

settlement of liabilities in the ordinary course of business.

Comparatives are consistent with prior years, unless

otherwise stated.

b. Principles of Consolidation

As at reporting date, the assets and liabilities of all

controlled entities have been incorporated into the

deferred tax assets and liabilities are not recognised where

the timing of the reversal of the temporary difference can be

controlled and it is not probable that the reversal will occur

in the foreseeable future.

Deferred tax assets are recognised for deductible temporary

differences and unused tax losses only if it is probable

that future tax amounts will be available to utilise those

temporary differences and losses.

Current tax assets and liabilities are offset where a legally
enforceable right of offset exists and it is intended that net

settlement or simultaneous realisation and settlement of the

consolidated financial statements as well as their results for

respective asset and liability will occur. Deferred tax assets

the year then ended. Where controlled entities have entered

and liabilities are offset where a legally enforceable right of

(left) the Consolidated Group during the year, their operating

set-off exists, the deferred tax assets and liabilities relate to

results have been included (excluded) from the date control

income taxes levied by the same taxation authority on either

was obtained (ceased).

i. Subsidiaries

Subsidiaries are entities controlled by the Group.

A list of subsidiaries is provided in Note 5.

the same taxable entity or different taxable entities where it

is intended that net settlement or simultaneous realisation

and settlement of the respective asset and liability will occur

in future periods in which significant amounts of deferred
tax assets or liabilities are expected to be recovered

ii. Transactions eliminated on consolidation

or settled.

All intra-group balances and transactions, and any unrealised

ii. Goods and Services Tax (GST)

income and expenses arising from intra-group transactions, are

eliminated in preparing the consolidated financial statements.

Revenues, expenses, and assets are recognised net of the

amount of GST, except where the amount of GST incurred

AML3D Limited // ASX: AL3 // ABN 55 602 857 983is not recoverable from the taxation authority. In these

circumstances, the GST is recognised as part of the cost

Class of fixed asset
Office and Computer equipment

Depreciation rate (%)
20 - 33

of acquisition of the asset or as part of an item of expense.

Plant and Equipment

Receivables and payables in the Statement of Financial

Motor Vehicles

10 - 20

22.5

Position are shown inclusive of GST.

Leasehold improvements

Over the term of the lease

The net amount of GST recoverable from, or payable to, the

The assets’ residual values and useful lives are reviewed,

Australian Taxation Office is included as a current asset or

and adjusted if appropriate, at the end of each reporting

liability in the Statement of Financial Position.

period. An asset’s carrying amount is written down

Cash flows are presented in the statement of cash flows on

a gross basis, except for the GST component of investing

and financing activities, which are disclosed as operating

immediately to its recoverable amount if the asset’s

carrying amount is greater than its estimated

recoverable amount.

cash flows included in cash inflows from operations or

Gains and losses on disposal of an item of plant

payments to suppliers and employees.

d. Plant and Equipment

i. Recognition and Measurement

Items of plant and equipment are measured on the cost

basis and carried at cost less accumulated depreciation and

impairment losses. In the event the carrying amount of plant

and equipment is greater than the estimated recoverable

amount, the carrying amount is written down immediately to

the estimated recoverable amount and impairment losses

are recognised either in profit or loss or as a revaluation

decrease if the impairment losses relate to a revalued asset.

A formal assessment of recoverable amount is made when

impairment indicators are present.

Cost includes expenditure that is directly attributable to the

acquisition of the asset.

The carrying amount of plant and equipment is reviewed

annually by Directors to ensure it is not more than the

recoverable amount from these assets. The recoverable

amount is assessed based on the expected net cash flows

that will be received from the asset’s employment and

subsequent disposal. The expected net cash flows have

not been discounted to their present values in determining

recoverable amounts.

Where parts of an item of plant and equipment have

different useful lives, they are accounted for as separate

items of plant and equipment.

ii. Subsequent Costs

The cost of replacing part of an item of plant and equipment

is recognised in the carrying amount of the item if it is

probable that the future economic benefits embodied within

the part will flow to the Group and its cost can be measured

and equipment are determined by comparing the

proceeds from disposal with the carrying amount of

plant and equipment and are recognised net within

“other income” in the Statement of Profit or Loss and

Other Comprehensive Income.

e. Impairment of Non-Financial Assets

The carrying amounts of the Group’s non-financial assets, other

than deferred tax assets (see accounting policy 2(c)) are reviewed

at each reporting date to determine whether there is any indication

of impairment. If any such indication exists, then the asset’s

recoverable amount is estimated.

An impairment loss is recognised if the carrying amount of an

asset or its cash-generating unit exceeds its recoverable amount.

A cash-generating unit is the smallest identifiable asset group

that generates cash flows that largely are independent from other

assets and asset groups. Impairment losses are recognised in the

Statement of Profit or Loss and Other Comprehensive Income,

unless the asset has previously been revalued, in which case

the impairment loss is recognised as a reversal to the extent of

that previous revaluation with any excess recognised through the

Statement of Profit or Loss and Other Comprehensive Income.

Impairment losses recognised in respect of cash-generating units

are allocated to the other assets in the unit on a pro rata basis.

The recoverable amount of an asset or cash generating unit is

the greater of its fair value less costs to sell and value in use.

In assessing value in use, the estimated future cash flows are

discounted to their present value using a pre-tax discount rate that

reflects current market assessments of the time value of money

and the risks specific to the asset. For an asset that does not

generate largely independent cash flows, the recoverable amount

is determined for the cash-generating unit to which the asset

belongs.

reliably. Any costs of the day-to-day servicing of plant and

Impairment losses recognised in prior periods are assessed at

equipment are recognised in the Statement of Profit or

each reporting date for any indications that the loss has decreased

Loss and Other Comprehensive Income as an expense as

or no longer exists. An impairment loss is reversed if there has

incurred.

iii. Depreciation

Depreciation is charged to the Statement of Profit or Loss

and Other Comprehensive Income on a straight-line basis
over the asset’s useful life to the Group commencing from

the time the asset is held ready for use.

been a change in the estimates used to determine the recoverable

amount. An impairment loss is reversed only to the extent that

the asset’s carrying amount does not exceed the carrying amount

that would have been determined, net of depreciation and

amortisation, if no impairment loss had been recognised.

f. Financial Instruments

Depreciation rates and methods are reviewed annually for

Initial Recognition and Measurement

appropriateness. The straight-line depreciation rates used

Financial assets and financial liabilities are recognised

for the current period are as follows:

when the entity becomes a party to the contractual

AML3D Limited // ASX: AL3 // ABN 55 602 857 983provisions to the instrument. For financial assets, this is

or liabilities assumed, is recognised in the Statement of Profit

equivalent to the date that the entity commits itself to either

or Loss, and other comprehensive income.

the purchase or sale of the asset (i.e. trade date accounting

is adopted).

Other Financial Assets

Financial instruments are initially measured at fair value

plus transaction costs, except where the instrument is

A financial asset that meets the following conditions is

subsequently measured at amortised cost:

classified “at fair value through profit or loss”, in which case

• The financial asset is managed solely to collect

transaction costs are expensed to profit or loss immediately.

contractual cash flows; and

Where available, quoted prices in an active market are used

to determine fair value. In other circumstances, valuation

techniques are adopted. Trade receivables are initially

measured at the transaction price. Trade receivables do not

contain a significant financing component.

ii. Classification and Subsequent Measurement

Financial Liabilities

A financial liability is measured at fair value through profit

and loss if the financial liability is:

• A contingent consideration of an acquirer in

a business combination to which AASB 3:

Business Combinations applies;

• Held for trading; or

•

Initially designated as “at fair value through

profit or loss”.

All other financial liabilities are subsequently measured at

amortised cost using the effective interest rate method.

• The contractual terms within the financial asset

give rise to cash flows that are solely payments

of principal and interest on the principal amount

outstanding on specified dates.

A financial asset that meets the following conditions

is subsequently measured at fair value through other

comprehensive income:

• The contractual terms within the financial asset

give rise to cash flows that are solely payments

of principal and interest on the principal amount

outstanding on specified; and

• The business model for managing the

financial assets comprises both contractual

cash flows’ collection and the selling of the

financial asset.

By default, all other financial assets that do not meet the

measurement conditions of amortised cost and fair value

through other comprehensive income are subsequently

The effective interest rate method is a method of calculating

measured at fair value through profit or loss.

the amortised cost of a debt instrument and of allocating

interest expense in profit or loss over the relevant period.

The effective interest rate is the internal rate of return of

the financial asset or liability. That is, it is the rate that

discounts the estimated future cash flows through the

expected life of the instrument to the net carrying

amount at initial recognition.

Any gains or losses arising on changes in fair value are

recognised in profit or loss to the extent they are not part

of a designated hedging relationship are recognised in

profit or loss.

The change in fair value of the financial liability

attributable to changes in the issuer’s credit risk

is taken to other comprehensive income and are

not subsequently reclassified to profit or loss. Instead,

they are transferred to retained earnings upon

The initial designation of the financial instruments to

measure at fair value through profit or loss is a one-time

option on initial classification and is irrevocable until the

financial asset is derecognised.

A financial asset is derecognised when the holder’s

contractual rights to its cash flows expires, or the asset is

transferred in such a way that all the risks and rewards of

ownership are substantially transferred. On derecognition of

a financial asset measured at amortised cost, the difference

between the asset’s carrying amount and the sum of the

consideration received and receivable is recognised

in profit or loss.

Cash and Cash Equivalents

For the purpose of presentation in the statement of cash

flows, cash and cash equivalents includes cash on hand,

derecognition of the financial liability. If taking the change

deposits held at call with banks, other short-term highly

in credit risk in other comprehensive income enlarges

liquid investments with original maturities of three months or

or creates an accounting mismatch, then these gains or

less, and bank overdrafts. Bank overdrafts, if any, are shown

losses should be taken to profit or loss rather than other

within short-term borrowings in current liabilities on the

comprehensive income.

Statement of financial position.

A financial liability is derecognised when it is extinguished (i.e.

Trade and Other Receivables

when the obligation in the contact is discharged, cancelled

or expires). An exchange of an existing financial liability for

a new one with substantially modified terms, or a substantial

modification to the terms of a financial liability is treated as an

extinguishment of the existing liability and recognition of new

Receivables are usually settled within 60 days. Receivables

expected to be collected within 12 months of the end of the

reporting period are classified as current assets. All other

receivables are classified as non-current assets.

financial liability. The difference between the carrying amount

Trade and other receivables are initially recognised at fair

of the financial liability derecognised and the consideration

value and subsequently measured at amortised cost using

paid and payable, including any non-cash assets transferred

the effective interest method, less any provision for impairment.

AML3D Limited // ASX: AL3 // ABN 55 602 857 983Collectability of trade and other receivables are reviewed on an

fundsinvested, gains on the disposal of financial assets and

ongoing basis.

Trade and Other Payables

changes in the fair value of financial assets at fair value

through profit or loss. Interest income is recognised

as it accrues in profit or loss, using the effective

These amounts represent liabilities for goods and services

interest method.

provided to the Group prior to the end of financial year which

are unpaid and stated at their amortised cost. The amounts are

g. Employee Benefits

unsecured and are generally settled on 30 day terms.

i. Short-term Employee Benefits

iii. Impairment of Financial Assets

Impairment of financial assets is recognised on an expected

credit loss (ECL) basis for the following assets:

Provision for employee benefits for wages, salaries, annual

leave and long service leave that are expected to be settled

wholly within 12 months of the reporting date represent

obligations resulting from the employee’s services provided

• Financial assets measured at amortised cost

to the reporting date and are calculated at undiscounted

• Debt investments measured at FVOCI

When determining whether the credit risk of a financial

asset has increased significantly since initial recognition

and when estimating ECL, the Group considers

reasonable and supportable information that is relevant

amounts based on remuneration wage and salary rates that

the Group expects to pay at the reporting date including

related payroll on-costs, such as worker’s compensation

insurance and payroll tax.

ii. Other Long-Term Employee Benefits

and available without undue cost or effort. This includes

The Group’s obligation in respect of long-term employee

both quantitative and qualitative information and analysis

benefits is the amount of future benefit that employees have

based on the Group’s historical experience and informed

earned in return for their service in the current and prior

credit assessment and including forward looking

information.

The Group uses the presumption that an asset which is

more than 30 days past due has seen a significant increase

in credit risk.

The Group uses the presumption that a financial asset is in

default when:

• The other party is unlikely to pay its credit

obligations to the Group in full, without recourse

to the Group to actions such as realising security

(if any is held); or

• The financial asset is more than 90 days

past due.

periods plus related on-costs; that benefit is discounted to

determine its present value. The discount rate applied is

determined by reference to market yields on high quality

corporate bonds at the reporting date that have maturity dates

approximating the terms of the Group’s obligations.

iii. Retirement benefit Obligations: Defined contribution

superannuation funds

A defined contribution plan is a post-employment benefit

plan under which an entity pays fixed contributions into

a separate entity and will have no legal or constructive

obligation to pay further amounts. Obligations for

contributions to defined contribution superannuation funds

are recognised as an expense in the Statement of Profit or

Loss and Other Comprehensive Income as incurred.

Impairment of trade receivables is determined using the

iv. Equity-settled Compensation

simplified approach in AASB 9 which uses an estimation of

lifetime expected losses.

For financial assets carried at amortised cost (including

loans and receivables), a separate allowance account is

used to reduce the carrying amount of financial assets

impaired by credit losses. After having taken all possible

measures of recovery, if management establishes that the

carrying amount cannot be recovered by any means, at that

point the written-off amounts are charged to the allowance

account or the carrying amount of impaired financial assets

The Group operates an employee share option plan. The fair

value of options granted is recognised as an employee benefit

expense with a corresponding increase in equity. The fair value

is measured at grant date and spread over the period during

which the employees become unconditionally entitled to the

options. The fair value of the options granted is measured using

the Black-Scholes pricing model, considering the terms and

conditions upon which the options were granted. The amount

recognised is adjusted to reflect the actual number of share

options that vest except where forfeiture is only due to market

is reduced directly if no impairment amount was previously

conditions not being met.

recognised in the allowance account.

h. Provisions

When the terms of financial assets that would otherwise

have been past due or impaired have been renegotiated, the

Group recognises the impairment for such financial assets

by taking into account the original terms as if the terms have
not been renegotiated so that the loss events that have

occurred are duly considered.

iv. Finance Income and Expenses

Finance income comprises interest income on

Provisions are recognised when the Group has a legal or

constructive obligation, as a result of past events, for which it is

probable that an outflow of economic benefits will result and that

outflow can be reliably measured.

Provisions are measured using the best estimate of the

amount required to settle the obligation at the end of the

reporting period.

AML3D Limited // ASX: AL3 // ABN 55 602 857 983i. Leases

The Group as Lessee

At inception of a contract, the Group assesses if the

contract contains or is a lease. If there is a lease present,

a right of use asset and a corresponding lease liability

are recognised by the Group where the Group is a

lessee. However, all contracts that are classified as short

term leases (i.e. a lease with a remaining lease term of

12-months or less) and leases of low value assets are

recognised as an operating expense on a straight line basis

over the term of the lease.

Initially the lease liability is measured at the present value

of the lease payments still to be paid at the commencement

date. The lease payments are discounted at the interest rate

implicit in the lease. If this rate cannot be readily determined,

the Group uses the incremental borrowing rate.

Lease payments included in the measurement of the lease

liability are as follows:

• Fixed lease payments less any lease incentives;

• Variable lease payments that depend on an index or

rate, initially measured using the index or rate at the
commencement date;

• The amount expected to be payable by the lessee

under residual value guarantees;

• The exercise price of purchase options, if the lessee

is reasonably certain to exercise the options;

• Lease payments under extension options, if the

lessee is reasonably certain to exercise the

options; and

• Payments of penalties for terminating the lease,

if the lease term reflects the exercise of an option

to terminate the lease.

The right of use assets are recognised at an amount

equal to the lease liability at the initial date of application,

adjusted for previously recognised prepaid or accrued

lease payments. The subsequent measurement of the right

of use asset is at cost less accumulated depreciation and

impairment losses.

Right of use assets are depreciated over the lease

term or useful life of the underlying asset, whichever is

the shortest.

Where a lease transfers ownership of an underlying

asset or the cost of the right of use asset reflects that

the Group anticipates to exercise a purchase option, the

specific asset is depreciated over the useful life of the

underlying asset.

j. Revenue and Other Income

i. Revenue from Contracts with Customers

The core principle of AASB 15: Revenue from Contracts with
Customers is that revenue is recognised on a basis that reflects

Step 1: Identify the contract with a customer;

Step 2: Identify the performance obligations in the contract
and determine at what point they are satisfied;

Step 3: Determine the transaction price;

Step 4: Allocate the transaction price to the performance
obligations;

Step 5: Recognise revenue as the performance obligations
are satisfied.

Following the adoption of AASB 15 the Group’s revenue
recognition accounting policy is that:

The Group derives revenue from the sale of 3D printed
metal structures and the sale or right to use of 3D metal
printing machines. Revenue from the sale of manufactured
metal structures and sale of 3D metal printing machines
is recognised upon delivery to the customer. Revenue
from right to use 3D metal printing machines is recognised
once performance milestones in the contract are satisfied.
Broadly, these milestones relate to the delivery of software,
training and the machine itself. The customer has the option
to make a further payment in order to take ownership of
the machine.

ii. Service or Technical Support Contracts

For service or technical support contracts where the
services provided are substantially the same, for example
maintenance and technical support, which are transferred
with the same pattern of consumption over time and whose
consideration consists of a recurring fixed amount over the
term of the contract (e.g. monthly or annual payment), in
such a way that the customer receives and consumes the
benefits of the services as the Group provides them, the
revenue recognition model is based on the time elapsed
output method. Under this method, revenue is recognised
on a straight-line basis over the term of the contract.

iii. Grant Revenue

Government grants are recognised at fair value where there
is reasonable assurance that the grant will be received and
all grant conditions will be met. Grants relating to expense
items are recognised as income over the periods necessary
to match the grant to the costs they are compensating.
Grants relating to assets are credited to deferred income
at fair value and are credited to income over the expected
useful life of the asset on a straight-line basis.

All revenue is stated net of the amount of GST.

k. Segment Reporting

An operating segment is a component of the Group that
engages in business activities from which it may earn revenues
and incur expenses. Currently, the Group comprises one operating

segment. Further details of the segment reporting are disclosed in

Note 28.

Intangible Assets

i. Patents and Trademarks

Costs incurred for patents and trademarks are

the transfer of promised goods or service to customers at an

capitalised and amortised over the life of the patent or

amount that reflects the consideration the Group expects to

trademark. The residual value and useful life are reviewed

receive in exchange for those goods or services.

at each balance date and adjusted if appropriate.

Revenue is recognised by applying a five-step process

Amortisation is calculated on a straight-line basis over

outlined in ASSB 15 which is as follows:

periods ranging from one to five years.

AML3D Limited // ASX: AL3 // ABN 55 602 857 983ii. Software and Website Development Costs

p. Share-based Payments

Costs incurred in acquiring software and licences that

will contribute to future period financial benefits through

revenue generation and or cost reduction are capitalised.

Amortisation is calculated on a straight-line basis over

All goods and services received in exchange for the grant of any

share-based payment are measured at their fair values.

Where employees are rewarded using share-based payments,

periods ranging from one to three years.

the fair values of employees’ services are determined indirectly by

m. Foreign Currency Translation

i. Functional and Presentation Currency

reference to the fair value of the equity instruments

granted. This fair value is appraised at the grant date and

excludes the impact of non-market vesting conditions (for

Items included in the financial statement of each of the

example profitability and earnings per share growth targets

Group’s entities are measured using the currency of the

and performance conditions).

primary economic environment in which the entity operates

(‘the functional currency’). The consolidated financial

q. Research and Development Expenditure

statements are presented in Australian dollars, which is

Research and development costs are expensed in the period in

AML3D’s functional and presentation currency.

which they are incurred. Development costs are not capitalised

ii. Transactions and Balances

Foreign currency transactions are translated into the

as there is uncertainty on whether the costs will provide a future

economic benefit to the consolidated group.

functional currency using the exchange rates prevailing at

r. Going Concern

the dates of the transactions. Foreign exchange gains and

losses resulting from the settlement of such transactions

and from the translation at year end exchange rates of

monetary assets and liabilities denominated in foreign

currencies, are recognised in the income statement or

deferred in equity if the gain or loss relates to a qualifying

cash flow hedge.

iii. Foreign Operations

The results and financial position of all the foreign

operations that have a functional currency different from the

presentation currency are translated into the presentation

currency as follows:

As at 30 June 2022, the Group had a net asset position of

$6,631,120 (2021: $11,528,148) and cash and cash equivalents of

$2,933,482 (2021: $7,200,707). The decrease in net assets from

the prior year is the result of the Company continuing with the

development of its technology whilst building its customer pipeline.

Subsequent to the end of the financial year, the Group

raised $2,685,000 (before costs) through a placement of

37,605,038 shares.

The Group expects that cash and cash equivalents post

capital raise in conjunction with stringent controls over the net

cash outflows from operating activities will be sufficient to cover

a. Assets and liabilities for each balance sheet

ongoing operations.

presented are translated at the closing rate

at the date of that balance sheet;

b. Income and expenses for each income

statement and statement of comprehensive

Moreover, the directors have proactively sought to improved cash

performance via the following initiatives:

• continued focus on expanding revenue; and

income are translated at average exchange rates

• continued focus on cost containment in all areas of business.

(unless this is not a reasonable approximation

of the cumulative effect of the rates prevailing

on the transaction dates, in which case income

and expenses are translated at the dates of the

transactions); and

c. All resulting exchange differences are recognised in

other comprehensive income.

n. Inventory

Inventories consists of finished goods, work in progress and

raw materials which are measured at the lower of cost and net

As a result of the above matters, the Directors are of the view

that the consolidated entity will continue as a going concern and,

therefore, will realise its assets and liabilities and commitments

in the normal course of business and at the amounts stated in

the financial statements. The Directors remain confident about

the successful achievement of projected targets and therefore

no adjustments have been made to these financial statements

relating to the recoverability and classification of the asset carrying

amounts or the amounts and classification of liabilities that might

be necessary should the consolidated entity not continue as a

realisable value.

going concern.

Cost comprises direct materials, direct labour and an appropriate

3. Critical Accounting Estimates and Assumptions

portion of variable and fixed overhead expenditure.

o. Earnings per Share

Both the basic and diluted earnings per share have been

The Group makes estimates and assumptions in preparing the

financial statements. The resulting accounting estimates will,

by definition, seldom equal the related actual results. This note

calculated using the loss attributable to shareholders of the parent

provides an overview of the areas that involve a higher degree of

company as the numerator, i.e. no adjustments to loss were

judgement or complexity and of items which are more likely to be

necessary in respect of the reported figures, which is divided by

materially adjusted due to estimates and assumptions differing to

the weighted average number or ordinary shares outstanding

actual outcomes. The areas involving significant estimates and

during the year.

assumptions are:

AML3D Limited // ASX: AL3 // ABN 55 602 857 983i. Key Estimate – R&D Tax Incentive

cost/value, quantity and the period of transfer related

Where the Group expects to receive the Australian

Government’s Research and Development Tax Incentive,

the Group accounts for the amount refundable on an

to the goods or services promised.

4. New, Revised or Amended Accounting Standards

accruals basis. In determining the amount of the R&D Tax

The Group has adopted all the new, revised or amended

Offset Incentive at year end, there is an estimation process

Accounting Standards issued by the Australian Accounting

to determine what expenditure will qualify for the incentive.

Standards Board (AASB) which are effective for the current

External advice is sought to provide assurance that the

reporting period with no material impact to the financial

estimates are reasonable.

ii. Key Estimate – Lease Term

The lease term is defined as the non-cancellable period

of a lease together with both periods covered by an option

to extend the lease if the lessee is reasonably certain to

exercise that option; and also periods covered by an option

to terminate the lease where the lessee is reasonably

certain not to exercise that option. The decision on whether

or not the options to extend are reasonably going to be

exercised is a key management judgement that the entity

will make. The Group determines the likelihood to exercise

statements.

5. Interest in Controlled Entities

The consolidated financial statements incorporate the assets,

liabilities and results of the following subsidiaries:

Name of entity

Country of

incorporation

Percentage Owned

2022

2021

AML Technologies

(Asia) Pte Ltd

Singapore

100%

on a lease-by-lease basis looking at various factors such as

which assets are strategic and which are key to the future

6. Revenue

strategy of the entity.

iii. Key Estimate – Share-based Payments

The Group operates equity-settled share-based payment

and option schemes. The fair value of the equity to which

option holders become entitled is measured at grant date

Revenue from contracts

with customers

and recognised as an expense over the vesting period, with

Timing of revenue recognition:

2022

2021

2,014,828

644,486

a corresponding increase to an equity account. The fair

- At a point in time

1,964,828

644 ,486

value of shares is ascertained as the market bid price. The

fair value of options is ascertained using the Black-Scholes

- Over time

pricing model, which incorporates all market vesting

conditions. The amount to be expensed is determined by

reference to the fair value of the options or shares granted.

7. Expenses

50,000

2,014,828

644,486

This expense takes in account any market performance

conditions and the impact of any non-vesting conditions

but ignores the effect of any service and non-market

performance vesting conditions.

Loss before income tax has been arrived at after charging the

following losses and expenses from continuing operations:

Non-market vesting conditions are taken into account when

considering the number of options expected to vest. At the

end of each reporting period, the Group revises its estimates

Depreciation of non-

current assets

of the number of options which are expected to vest based

Amortisation of intangible assets

23,987

11,322

on the non-market vesting conditions. Revisions to prior

period estimate are recognised in profit or loss and equity.

Depreciation of right

of use assets

Any changes to the estimation are adjusted in the

subsequent financial year.

Fair value of options issued for services from suppliers is

determined with reference to the supplier’s invoice value.

iv. Key Judgements – Performance obligations relating

to revenue recognition under AASB 15

To identify a performance obligation under AASB 15,

the promise must be sufficiently specific to be able to
determine when the obligation is satisfied. Management

exercises judgement to determine whether the promise is

sufficiently specific by taking into account any conditions

specified in the arrangement, explicit or implicit, regarding

the promised goods and services. In making this

assessment, management includes the nature/type,

189,720

112,078

721,119

409,145

2022

2021

507,412

285,745

AML3D Limited // ASX: AL3 // ABN 55 602 857 9838. Income Tax

a. Income Tax Expense

The taxation benefits of utilised tax losses and temporary

difference not brought to account will only be obtained if:

Current tax expense

Deferred tax expense

Total tax benefit

2022

2021

• The Group derives assessable income of a nature

and an amount sufficient for tax losses and future

deductions to be offset against;

• The Group continues to comply with the condition

for utilisation of tax loses imposed by law; and

• No change in tax legislation affecting the availability

of utilisation losses.

b. The prima facie tax on loss from ordinary activities

9. Key Management Personnel Disclosures

before income tax is reconciled to the income tax

expense as follows:

a. Details of Key Management Personnel

The directors and executives of AML3D Limited during the

Prima facie tax payable on (loss)

2022

2021

financial year were:

Names

Directors

from ordinary activities before

(1,394,021)

(1,365,925)

income tax at 25% (2021: 26%)

Add tax effect of:

Permanent Differences

124,426

132,273

Less tax effect of:

Andrew Sales

(Managing Director)

Sean Ebert

(Chairman)

Leonard Piro

Temporary Differences

(45,423)

49,445

Add: Tax losses not recognised

1,315,017

1,184,207

Stephen Gerlach

Income Tax Expense/(Benefit)

Tax Losses and Unrecognised

Temporary Differences

Due to inherent uncertainty surrounding forward forecasts,

and therefore the Group’s ability to fully utilise tax losses in the

Kevin Reid

Executives

Appointed

Resigned

14 November

2014

30 August

2019

30 August

2019

30 August

18 November

2019

2021

3 December

18 November

2019

2021

Hamish McEwin

(Chief Financial Officer)

1 March

2021

future, a deferred tax asset for tax losses and deferred tax assets

b. Key Management Personnel Compensation

for temporary differences have only been recognised to the

extent that they offset deferred tax liabilities. The tax losses and

temporary differences for which no deferred tax assets have been

recognised are as follows:

The aggregate compensation made to Key Management

Personnel of the company is set out below:

2022

2021

Available tax losses for which

2022

2021

Short-term employee benefits

606,177

917,326

Post-employment benefits

58,065

56,140

no deferred tax asset is

10,495,245

6,327,398

Share-based payments

recognised

Potential tax benefit at 25%

(2021: 26%)

Net deductible temporary

Total

664,242

973,466

2,623,811

1,645,123

The compensation of each member of the Key Management

Personnel of the Company is set out in the Remuneration Report.

differences for which no deferred

817,919

508,401

tax asset has been recognised

Potential tax benefit at 25%

(2021: 26%)

204,480

132,184

Income Tax Expense/(Benefit)

AML3D Limited // ASX: AL3 // ABN 55 602 857 98310. Equity Settled Share-based Payments

13. Inventory

No shares or options where issued in satisfaction of services

provided by suppliers or Directors during the current financial year

(2021: Nil).

11. Remuneration of Auditors

During the year, the following fees were paid or payable for

services provided by the auditor of the parent entity and non-

related audit firms:

Finished goods

Work in progress

Raw materials

Total

2022

2021

14. Other Financial Assets

a. William Buck Adelaide

i. Audit and other assurance services

Audit and review of

the financial report

ii. Taxation services

Tax compliance and advisory

services

b. Fiducia LLP audit fees

Audit and review of

subsidiary financial report

12. Trade and Other Receivables

42,850

32,000

Total

Term deposit (current)

32,275

30,226

15. Other Assets

3,168

2,689

Prepayments

Total

2022

2021

741,888

1,284,360

28,421

578,223

135,676

169,074

905,985

2,031,657

2022

56,000

2021

56,000

2022

2021

221,404

224,484

221,404

224,484

Trade receivables

Less: Allowance for

expected credit loss

Sub Total

2022

2021

316,675

106,573

(9,020)

(26,074)

307,655

80,499

R&D Tax Offset Refund Due

462,374

410,000

Other receivables

1,505

32,358

Total

771,534

522,857

Trade receivables are non-interest bearing and generally on

terms of 14-90 days. The receivables at reporting date have been

reviewed to determine whether there are any expected credit

losses. An allowance for credit loss is included for any receivable

where the entire balance is not considered collectible.

Additional information in relation to financial risks concerning

or with a potential impact on financial assets and liabilities is

disclosed in Note 31 – Financial Risk Management.

AML3D Limited // ASX: AL3 // ABN 55 602 857 98342

AML3D Limited // ASX: AL3 // ABN 55 602 857 98316. Plant and Equipment

Cost

Office and

Computer

Equipment

Plant and

Equipment

Motor

Leasehold

Vehicles

Improvements

Total

Balance 1 July 2020

36,978

1,109,621

Additions

Assets under construction

Balance 1 July 2021

Additions

Disposals

126,845

163,823

79,532

504,988

1,053,911

2,668,520

541,473

(331,587)

Balance at 30 June 2022

243,355

2,878,406

69,674

50,897

120,571

57,254

(40,923)

136,902

13,250

1,229,523

198,191

211,441

6,225

880,921

1,053,911

3,164,355

684,484

(372,510)

217,666

3,476,329

Accumulated depreciation

and impairment

Balance 1 July 2020

Net depreciation expense

Balance 1 July 2021

Net depreciation expense

Balance at 30 June 2022

Net book value

At 30 June 2021

At 30 June 2022

Office and

Computer

Equipment

6,527

25,198

31,725

49,256

80,981

Plant and

Equipment

Motor Vehicles

95,084

237,597

332,681

423,848

756,529

6,360

18,178

24,538

5,156

29,694

Leasehold

Improvements

4,772

29,152

33,924

Total

107,971

285,745

393,716

507,412

901,128

132,098

162,374

2,335,839

2,121,877

96,033

107,208

206,669

183,742

2,770,639

2,575,201

17. Right of Use Assets

i. AASB 16 related amounts recognised in the statement of

The Group’s lease portfolio comprises a single leased

building. The lease has an remaining term of one year and

ten months.

An option to extend or terminate is contained in the lease

agreement. These clauses provide the Group opportunities

to manage the lease in order to align with its strategies. All

the extension or termination options are only exercisable by

the Group. The extension options, which management were

financial position:

Right-of-use assets

2022

2021

Leased buildings

584,986

Accumulated depreciation

(237,150)

(47,430)

Net carrying amount

347,836

537,556

reasonably certain to be exercised, have been included in the

Movement in carrying amounts

calculation of the lease liability.

Leased buildings:

Opening balance

Restatement of carrying amount

on renegotiation of leas

Depreciation expense for

the year ended

537,556

411,478

238,156

(189,720)

(112,078)

Net carrying amount

347,836

537,556

AML3D Limited // ASX: AL3 // ABN 55 602 857 98344

AML3D Limited // ASX: AL3 // ABN 55 602 857 983ii. AASB 16 related amounts recognised in the

20. Contract Liabilities

statement of loss:

Depreciation charge related

to right of use assets

Interest expense on

lease liabilities

18. Intangible Assets

2022

2021

189,720

112,078

Total

Customer deposits

2022

5,624

2021

451,028

22,929

17,811

Contract liabilities represent non-interest bearing customers

deposits for which not all contractual performance obligations

have been met.

2022

2021

Reconciliation of movements

in Contract Liabilities:

Patents and Trademarks

– at cost

34,550

of the year

Balance at the beginning

2022

451,028

2021

– accumulated amortisation

(21,225)

(14,295)

Payments received in advance

390,599

631,028

Net carrying value

Software – at cost

13,325

20 ,255

Transfer to revenue -

134,694

125,379

performance obligations

(836,003)

(180,000)

satisfied

– accumulated amortisation

(100,540)

(83,483)

Balance at the end of the year

5,624

451,028

Net carrying value

Website – at cost

34,154

16,569

41,896

16,569

21. Lease Liabilities

– accumulated amortisation

(16,569)

Net carrying value

Total intangibles

47,479

62,151

2022

2021

Lease liability (current)

175,025

178,803

Reconciliation of movements

in Intangible Assets:

2022

2021

Lease liability

(non-current)

185,818

361,107

Balance at the beginning

of the year

62,151

41,002

Additions to intangible assets

9,315

32,471

Total

360,843

539,910

22. Employee Benefits

Amortisation charged to

intangible assets

(23,987)

(11,322)

Current

Balance at the end of the year

47,479

62,151

Intangible assets have finite useful lives. The current amortisation

charges for intangible assets are included under depreciation and

amortisation expense in the statement of profit and loss and other

comprehensive income.

Annual Leave

Total

Non-current

At each reporting date the directors review intangible assets for

Long Service Leave

impairment. No impairment was assessed as necessary in the

2022 financial year (2021: Nil).

19. Trade and Other Payables

Total

2022

2021

128,907

109,626

128,907

109,626

2022

33,126

2021

2022

2021

Trade payables

187,025

512,163

Other payables and

accrued expenses

Total

323,214

510,239

265,176

777,339

Trade and other payables are unsecured, non-interest bearing and

normally settled within 30 days.

AML3D Limited // ASX: AL3 // ABN 55 602 857 98323. Equity

a. Issued Capital

150,458,386 fully

paid ordinary

shares (2021:

150,458,386)

2022

2021

20,641,272

Ordinary shares participate in dividends and the proceeds

on winding of the Company in proportion to the number of

shares held.

iv. 333,333 shares were issued on 1 April 2021 on the exercise

options at an exercise price of $0.30 for a total consideration

of $100,000.

v. 66,667 shares were issued on 11 June 2021 on the exercise

options at an exercise price of $0.30 for a total consideration

of $20,000.

vi. 50,000 shares were issued on 11 June 2021 on the exercise

options at an exercise price of $0.30 for a total consideration

of $15,000.

vii. 16,667 shares were issued on 18 June 2021 on the exercise

options at an exercise price of $0.30 for a total consideration

of $5,000.

viii. 33,333 shares were issued on 30 June 2021 on the

exercise options at an exercise price of $0.30 for a total

On a show of hands, every holder of ordinary shares present at

consideration of $10,000.

a meeting or by proxy is entitled to one vote, and on a poll each

share is entitled to one vote.

c. Capital Management

The Company does not have authorised capital or par value in

respect of its shares.

Management controls the capital of the Company in

order to generate long-term shareholder value and ensure

that the Company can fund its operations and continue as

b. Movement in Ordinary Shares:

a going concern.

Balance at beginning

of financial year

Balance at end of

financial year

2022

Number

The Company is subject to externally imposed
capital requirements.

150,458,386

20,641,272

There have been no changes in the strategy adopted by

management to control the capital of the Group since the

150,458,386

20,641,272

issue of the prospectus.

d. Reserves

2021

Number

The Group’s reserves comprise a share-based payments reserve.

A summary of the movements in the reserve is as follows:

Balance at beginning

of financial year

132,366,163

13,310,772

Current

Shares issued during the year

15,555,557

7,000,001

Options exercised during

the year

2,536,666

761,000

Balance at beginning

of financial year

Share-based payment

Total shares issued

150,458,386

21,071,773

expense - Options issued

2022

2021

672,965

Costs of the

shares issued

Balance at end of

financial year

(430,501)

Balance end of financial year

672,965

The reserve records the value of share-based payments provided.

150,458,386

20,641,272

i. The Company issued 15,555,557 shares on 12 October

2020 via a private placement at an issue price of $0.45 per

share for a total consideration of $7,000,001.

ii. 1,666,666 shares were issued on 28 October 2020 on the

exercise options at an exercise price of $0.30 for a total

consideration of $500,000.

iii. 370,000 shares were issued on 26 February 2021 on the

exercise options at an exercise price of $0.30 for a total

consideration of $111,000.

AML3D Limited // ASX: AL3 // ABN 55 602 857 983The following table details the tranches of options outstanding as at 30 June 2022.

Number of

Options

Grant

Date

Expiry

Share Price

Exercise

Fair value

Date

at Grant Date

Price

at Grant Date

2,000,000

30 July 2019

30 July 2023

7,500,000 4 December 2019 4 December 2024

$0.10

$0.15

$0.30

$0.02

$0.06

9,500,000

e. Movement in Options on Issue

Value

49,474

451,408

500,882

2022

2021

26. Related Party Disclosures

Number of Options

The following paragraphs provide details of transactions

and balances with related parties.

9,500,000

17,166,179

a. Compensation of Key Management Personnel

Details of Key Management Personnel compensation are recorded

(2,536,666)

in Note 9 (b)

(5,129,513)

b. Other transactions with Key Management Personnel

9,500,000

i. Mr Andrew Sales

2022

2021

During the financial year, the Company engaged the

services of a company controlled by Mr Sales’ sister to

provide IT services. These services were conducted on
standard commercial terms. The value of the services for

the financial year was $7,733 (2021: $11,296).

ii. Mr Sean Ebert and his related entities

(9,786,089)

(4,270,817)

In addition to his services as a director, during the previous

Balance at

beginning of

financial year

Options exercised

Options lapsed

Balance at end

of financial year

24. Accumulated Losses

Balance at beginning

of financial year

Loss attributable to members

of the entity

(4,897,028)

(5,515,272)

Balance at end of

financial year

25. Loss per Share

Basic (loss) per share (cents):

Loss used in calculating basic

earnings per share

Weighted average number

of ordinary shares for the

purposes of basic earnings

per share

(14,683,117)

(9,786,089)

2022

(3.3)

2021

(3.8)

(4,897,028)

(5,515,272)

2022

No.

2021

No.

150,458,386

144,822,684

The rights of options are non-dilutive as the Company has incurred

a loss for the year.

financial year the Company engaged the services of a

company controlled by Mr Ebert to provide executive

services to the Company. The services were conducted on

standard commercial terms. The total value of the services

for the prior financial year was $138,335 (2022: Nil).

There were no outstanding related party balances as at

30 June 2022.

c. Controlled Entities

During the financial year, the Company provided loan funds to

its Singaporean subsidiary, AML Technologies (Asia) Pte Ltd to

enable its subsidiary to meet start-up expenses. The transactions

were conducted on commercial terms and conditions.

AML3D Limited // ASX: AL3 // ABN 55 602 857 98327. Contingencies

29. Subsequent Events

In the opinion of the Directors, besides the guarantees disclosed

No matters or circumstances have arisen since the end of the

in Note 33, the Group did not have any contingent liabilities or

financial year which significantly affected or could significantly

assets as 30 June 2022.

28. Segment Reporting

i. Operating segments

The Company operates in the additive manufacturing

affect the operations of the Company, the results of those

operations and the state of affairs of the Company in future

financial years except for:

i. On 20 July 2022, the Company issued 37,605,038 ordinary

shares at $0.0714 per share via a private placement to

sector in Australia and South East Asia. For management

provide additional working capital.

ii. To the date of signing this report, the Company’s operations

have been directly adversely impacted by COVID-19.

Uncertainty remains as to the scope and length of the

pandemic and the impact of restrictions that will be imposed

to combat the pandemic. The pandemic may result in the

loss of or further delay in sales to customers and potential

customers. It may also impact access to equipment and

supplies, delaying the delivery

of products to customers. The Company is actively

monitoring risks associated with COVID-19 and

implementing risk management measures to mitigate

against potential impacts.

purposes, the Group has one main operating segment which

involves the provision of 3D printing services and machinery

sales in all territories in which it operates. All of the Group’s

activities are inter-related and discrete financial information

is reported to the (Chief Operating Decision Maker), being

the Managing Director, as a single segment. Accordingly,

all significant operating decisions are based upon analysis

of the Group as one segment. The financial results for this

segment are equivalent to the financial statements of the

Group as a whole.

All amounts reported to the Managing Director, being the

chief operating decision maker with respect to operating

segments, are determined in accordance with accounting
policies that are consistent with those adopted in the annual

financial statements of the Group.

ii. Geographic area

Revenues from external customers attributed to Australia

and other countries is as follows:

Australia

Singapore

United States

Japan

Other

2022

2021

1,552,661

534,252

383,498

84,598

78,669

24,596

1,040

Total Revenue

2,014,828

644,486

iii. Major customers

The Group has certain customers which represent more

than 10% of the Group’s revenue from contracts with

customers. Each customer is a customer of the 3D printing

services and machine sales operating segment. Revenue

for those customers is as follows:

2022

83%

2021

94%

4 Customers

AML3D Limited // ASX: AL3 // ABN 55 602 857 98330. Notes to the Statements of Cashflows

31. Financial Risk Management

a. Reconciliation of Cash and Cash Equivalents

The Group’s financial risk management is predominantly

2022

controlled by the Managing Director and Chief Financial Officer

2021

with the oversight of the Board and the Audit and Risk Committee.

a. Financial Risk Management

Cash and cash at bank

2,933,482

7,200,707

b. Reconciliation of loss for the year to net cash flows

used in operating activities

The Group enters into financial instruments which consist of

deposits with banks, accounts receivable and payables. The totals

for each category of financial instrument is shown in this Note. The

Group has not entered into any derivative financial instruments.

(Loss) for the year after

income tax

Non-cash items

Depreciation and amortisation of

non-current assets

2022

2021

b. Significant Accounting Policies

Details of significant accounting policies and methods adopted,

including the criteria for recognition, the basis of measurement

(4,897,028)

(5,515,272)

and the basis on which income and expenses are recognised,

in respect of each class of financial asset, financial liability

and equity instrument are disclosed in Note 2 to the financial

statements.

721,119

409,145

c. Interest Rate Risk Management

Expected credit losses

26,074

The Group is exposed to interest rate risk as it places funds at

floating interest rates. In the current low interest environment, the

Gain on disposal of property,

plant and equipment

Changes in assets and liabilities

Decrease / (increase) in trade

and other receivables

Decrease in prepayments and

other assets

Decrease / (increase) in

inventories

Increase / (decrease) in

trade and other payables

Increase / (decrease) in

contract liabilities

(37,865)

Group is exposed to minimal interest rate risk.

d. Credit Risk Management

(165,609)

202,267

contractual obligations resulting in financial loss to the Group.

Credit risk refers to the risk that a counterparty will default on its

5,013

10,756

The Group has adopted a policy of dealing only with creditworthy

counterparties (where such information is available) and obtaining

sufficient collateral (such as up front deposits before commencing

work), as a means of mitigating the risk of financial loss from

1,108,270

(1,919,282)

defaults. The Group’s exposure is constantly monitored.

(261,101)

99,554

credit risk exposure to any one single counterparty or any group

Except for one customer, the Group does not have any significant

(540,404)

451,028

of counterparties having similar characteristics. Sales to that

customer are denominated in Singapore dollars and the Group

has not hedged the receivable.

Increase in financial liabilities

Increase in employee benefits

212,695

52,407

The credit risk on liquid funds is limited because the

81,673

counterparties are banks with high credit ratings assigned by

international credit-rating agencies.

Net cash (used) in

operating activities

(3,802,503)

(6,154,057)

The quality of debtors is monitored by the ageing of open invoices

in accounts receivable. Trade receivables are analysed as follows:

Not impaired

- Within trade terms

- Past due but not impaired

Impaired

2022

2021

294,923

107,632

80,499

- Past due and impaired

9,020

26,074

Total trade receivables

411,675

106,573

Receivables that are past due but not impaired comprise

customers which do not have any objective evidence that the

receivable may be impaired. The Company knows why certain

customers are past due and expects that they will be paid.

AML3D Limited // ASX: AL3 // ABN 55 602 857 983An allowance for expected credit losses has however been

recognised at 30 June 2022 for balances past due.

Analysis of trade receivables:

Per aged

debtors

report

2022

Trade

receivables

Total

2021

Trade

receivables

Total

Not past

Due

60-90

days

>90 days

Total

199,923

80,861

35,891

316,675

199,923

80,861

35,891

316,675

80,499

26,074

106,573

26,074

106,573

For the year ended 30 June 2022, no expense has been

recognised during the financial year then ended for the allowance

for expected credit losses (2021: $26,000).

Maturity profile of financial instruments

Expected Maturity dates

Weighted

average interest

Interest Bearing

rate (%)

Less than 1 year

1 - 5 years

56,000

2,933,482

2,989,482

189,062

175,025

364,087

56,000

7,200,707

7,256,707

178,803

185,818

361,107

Non interest

bearing

771,534

415,239

522,857

777,339

Total

56,000

2,933,482

771,534

3,761,016

415,239

189,062

360,843

965,144

56,000

7,200,707

522,857

7,779,564

777,339

539,910

777,339

1,317,249

2022

Financial Assets

Other financial assets

Cash and cash equivalents

Trade and other receivables

Total

Financial Liabilities

Trade and other payables

Borrowings

Lease liabilities

Total

2021

Financial Assets

Other financial assets

Cash and cash equivalents

Trade and other receivables

Total

Financial Liabilities

Trade and other payables

Lease liabilities

Total

The amounts listed above equate to fair value. The cashflows in

the maturity analysis above are not expected to occur significantly

earlier than disclosed.

AML3D Limited // ASX: AL3 // ABN 55 602 857 983e. Liquidity Risk Management

33. Guarantees

Liquidity risk arises from the possibility that the Group may

AML3D has the following guarantee in place:

encounter difficulty in settling its debts or otherwise meeting its

obligations related to financial liabilities.

• A guarantee secured by a bank term deposit of $36,000

for the lease of its premises at 35 Woomera Avenue,

The Group manages liquidity risk by maintaining adequate cash

Edinburgh SA 5111.

reserves and monitoring its actual and forecast cashflows and

financial obligations. The Group endeavours to pay its creditors

within agreed trade terms.

f. Currency Risk

The Group operates in international markets, however,

products and services are invoiced in Australian dollars where

possible, in order to eliminate the risk of exposure to foreign

• A guarantee secured by a bank term deposit of $20,000

for a corporate credit card facility provided by the Group’s

banker Commonwealth Bank of Australia.

34. Capital Commitments

At 30 June 2022, AML3D had no commitments for capital

equipment ordered but not yet received (2021: Nil).

currency rate risks.

35. Borrowings

32. Information relating to AML3D Limited

(the Parent)

The following information has been extracted from the books and

records of the parent and has been prepared in accordance with

Insurance premium funding

Total borrowings

2022

189,062

Australian Accounting Standards.

Statement of Financial Position

Assets

Current assets

Reconciliation of movements in borrowings

2022

2021

Balance at the beginning
of the year

Additional borrowings

Repayment of borrowings

5,427,220

10,325,229

Balance at the end of the year

212,695

(23,633)

189,062

Non-current assets

2,9710,516

3,370,346

Total assets

Liabilities

8,397,736

13,695,575

Current liabilities

1,005,945

1,508,753

Non-current liabilities

218,994

361,107

Total liabilities

1,224,939

1,869,860

Net assets

Equity

Issued capital

Reserves

7,172,797

11,825,715

20,641,272

672,965

Accumulated losses

(14,141,440)

(9,488,522)

Total equity

7,172,797

11,825,715

Statement of Profit or Loss

and Other Comprehensive Income

2022

2021

Total loss for the year

4,652,918

5,254,289

Total comprehensive

loss for the year

4,652,918

5,254,289

The parent entity has entered into two bank guarantees
represented by term deposits, the first for $36,000 in respect of

the leased premises at Edinburgh, Adelaide, and the second for

$20,000 in respect of a corporate credit card facility provided by

the Group’s banker Commonwealth Bank of Australia. Other than

these guarantees, the parent entity had no contingent liabilities

at 30 June 2022.

2021

AML3D Limited // ASX: AL3 // ABN 55 602 857 983Directors’
Declaration

Directors’ Declaration

In accordance with a resolution of the Directors of AML3D Limited

(Company), the Directors of the Company declare that:

1. In the opinion of the Directors, the financial statements and

notes for the year ended 30 June 2022 are in accordance

with the Corporations Act 2001 and:

a. Comply with Accounting Standards, which, as

stated in basis of preparation Note 2 to the financial

statements, constitutes explicit and unreserved

compliance with International Financial Reporting

Standards (IFRS); and

b. Give a true and fair view of the consolidated entity’s

financial position as at 30 June 2022 and its

performance for the year ended on that date;

2. In the opinion of the Directors, there are reasonable grounds

to believe that the Company will be able to pay its debts as

and when they become due and payable, and

3. The Directors have been given the declarations required by

Section 295A of the Corporations Act 2001 from the Chief

Executive Officer and Chief Financial Officer.

Sean Ebert
Chairman

Dated this 30th day of August 2022

AML3D Limited // ASX: AL3 // ABN 55 602 857 983

Additional
Shareholder Information

The following information is current as at 25 August 2022:

Stock Exchange Listing

Shareholding

Following are details of fully paid ordinary shares on issue:

Admitted to the Official List of ASX on 16 April 2020; quotation

commenced on 20 April 2020.

ASX:AL3

Fully Paid

Number of

20 Largest Shareholders – Ordinary Shares

Ordinary Shares on Issue

holders

Quoted on ASX

2,971

188,063,424

There are 8 holders of 9,500,000 unquoted options each of which

converts to 1 share upon exercise.

Distribution of Shareholders

Range of Units

1 – 1,000

1,001 – 5,000

5,001 – 10,000

10,001 – 100,000

100,001 and over

Total

Number of

Percentage of

Holders

total securities

105

1,018

566

1,070

212

2,971

0.04%

1.62%

2.36%

19.44%

76.54%

100.00%

Unmarketable Parcels

The number of shareholders holding less than a marketable

parcel is 930.

Substantial Shareholders

Substantial shareholders as disclosed by notices received by the

Company as at 25 August 2022 are:

Name

MR ANDREW MICHAEL
CLAYTON SALES
KYLIE MARIE COLLUM

DEOR CAPITAL AND
INVESTMENTS PTY LTD

Number of

Shares held

36,199,850

19.25

7,002,801

3.72

7,002,801

3.72

GLOBAL ASSET SOLUTIONS

6,987,420

3.72

MR KENNETH JOSEPH HALL

TOBIAS LEE KLINE
RICKY JAMES LEGG

MEWTWO GLOBAL
INVESTMENTS
SCINTILLA STRATEGIC
INVESTMENTS LIMITED
ARETZIS COMMERCIAL
PTY LTD

11 CITICORP NOMINEES PTY LTD

12 MR BENJAMIN FEGAN

TOBIAS LEE KLINE + PRUE
LOUISE KLINE

6,117,850

3.25

3,501,400

1.86

3,501,400

1.86

3,000,000

1.60

3,000,000

1.60

2,801,120

1.49

2,676,130

2,192,250

1.42

1.17

2,100,840

1.12

Shareholder

Number of

ordinary shares

Andrew Michael Clayton Sales

36,199,850

13 TRIHOLM INVESTMENTS PTY LTD

2,100,840

1.12

FLODOR PTY LTD

1,630,252

0.87

Voting Rights

The voting rights attached to each class of equity security

are as follows:

Ordinary Shares:

• Each ordinary share is entitled to one vote when a poll is

called, otherwise each member at a meeting or by proxy

has one vote on a show of hands.

Other:

• Options do not confer upon the holder an entitlement to vote

on any resolutions proposed by the Company except as

required by law.

MR MOHAMED ALAA
SALLAHEDIN ALJAWHARI
+ MR INGY MOHAMED
FIKRY FARID ABDELSHAFEI

JEWEL CREEK VENTURES PTY LTD

MR ANDREW PAUL NUNN + MS
ALEXANDRA DIMOS
SAJ TIGER INVESTMENTS PTY
LTD
MICJUD PTY LTD

Total

1,400,560

0.74

1,400,560

0.74

1,400,560

0.74

1,400,560

0.74

1,400,280

0.74

96,817,474

51.48

AML3D Limited // ASX: AL3 // ABN 55 602 857 983Corporate
Directory

AML3D Limited

ABN 55 602 857 983

Directors

Sean Ebert
Andrew Sales

Leonard Piro

Chairman

Managing Director

Non-executive Director

Company Secretary

Christine Manuel

Registered Office and
Principal Place of Business

35 Woomera Avenue

Edinburgh SA 5111

Ph: +61 8 8258 2658

Share Register

Computershare Investor Services – Australia

Level 5, 115 Grenfell Street

Adelaide SA 5000

Ph: (08) 8236 2300 / 1300 850 505

Website: www.computershare.com.au

Auditor

William Buck Chartered Accountants

Level 6, 211 Victoria Square

Adelaide SA 5000

AML3D Limited // ASX: AL3 // ABN 55 602 857 983

AML3D Limited // ASX: AL3 // ABN 55 602 857 983Australia
35 Woomera Avenue,
Edinburgh SA 5111 Australia

+61 8 8258 2658

info@aml3d.com
www.aml3d.com

Australian Patent 2019251514

VED M

O
R
P
P
A

A R I T IME MA

U
R
E
R

D
E
I
F
I
T
R
E
C

Panama Chock

Wire classification ER70S-6
Wire diameter
Total print time
Deposited mass
Machined mass
Size
YS
UTS
Elongation

1.2 mm
188 hours
1,250 kg
705 kg
1500 x 1290 x 540 mm
450 - 480 MPa
550 - 580 MPa
> 25%

DNV.COM/AF

ADDITIVE
MANUFACTURING
FACILITY QUALIFICATION

WAM ®: Wire Additive Manufacturing. AML3D ®, WAM ®, WAMSoft ®, ARCEMY ® are all registered trademarks for AML3D ®.