Products

The key component of our petroleum outlet automation system deployed at an outlet is a forecourt controller,
which interfaces with various dispensers and tanks in the outlet. In addition to wet-stock reconciliation, this
system has additional functions such as remote site monitoring, central price changes, RFID-based attendant
tagging, enabling credit and debit card transactions from the forecourt, automatic indenting of products and
aggregation of data for a network of outlets into a centralized system.

Services

Our service offerings to oil companies comprise:
operational, implementation and support services;
maintenance support services;

helpdesk and remote support services; and
software upgrade and customization services.

Colour Sector Operations

Our colour sector offerings include automatic paint dispensers capable of delivering the right shade of colour,
which we supply to paint companies. Paint companies have shifted to the manufacture of only white base paints
and pigment concentrates, also known as colorants. We manage the entire life cycle of these machines including
deployment, implementation, and maintenance. We also provide operational and software training for our
customers. Our customers include Asian Paints Limited, Kansai Nerolac Paints Limited and Berger Paints India
Limited.

We have entered into an agreement with Fast and Fluid Management B.V. for the manufacture and licensing of
technology with respect to XSmart, a model of paint dispenser, and have the right to purchase and resell XSmart
and parts for XSmart in India, Sri Lanka, Nepal, and Bangladesh. As of August 31, 2021, we had installed
approximately 88,521 colour dispensing machines across India.

Our International Operations

We also provide products and services under our Banking Automation Solutions and Payment Solutions
segments to Southeast Asian countries, such as Singapore, Cambodia, Philippines and Sri Lanka. We conduct
our international operations through our Singapore subsidiary, Novus Technologies Pte. Ltd. (“Novus
Singapore”). Our Cambodia operations are conducted through our subsidiary Novus Technologies (Cambodia)
Company Limited, our Sri Lanka operations are conducted through our subsidiary Novustech Transact Lanka
(Private) Limited, and our Philippine operations are conducted through Novus Transact Philippines Corporation.
In Indonesia, we have entered into a joint venture with PT. Sumber Cipta Multiniaga and PT. Muria Kencana
Indah. to provide POS acquiring solutions in Indonesia. Through such joint venture, we have started offering
POS acquiring solutions and merchant acquiring solutions to one of the largest banks in Indonesia.

In Sri Lanka, as of August 31, 2021 we provide a total outsourcing solution for machines in newly-built self-
service branches comprising ATMs, recyclers and kiosks, as well as switching services and 24/7 monitoring. As
of August 31, 2021, we provided outsourcing solutions for 1,273 ATM/kiosks. Under the terms of contract, we
are paid both on a fixed fee and on a per ATM basis.

In the Philippines, we provide our agency banking platform and POS deployment enabling rural banking to a
bank.

Our Suppliers and Technology Partners

Over the years, we have partnered with leading global players such as ACI and Diebold Nixdorf.

We have a long-standing relationship with Diebold Nixdorf since 2004 and until July 2015, we offered their
ATMs, cash deposit machines, cash re-cycling machines and banking transaction terminals. We entered into two
cooperation agreements with Diebold Nixdorf on July 15, 2015, pursuant to which we started manufacturing our

own cash dispensers in India. The first cooperation agreement, for manufacturing cash dispensers, expired on
September 30, 2018. The second cooperation agreement, covering semi-knock down units (“SKD Cooperation

173
