<table><tr><th>From:</th><th>Nicole Junkermann | Junkermanngroup</th></tr><tr><td>Sent:</td><td>Wednesday, October 18, 2017 11:22 PM</td></tr><tr><td>To:</td><td>Ehud Barak WORLD</td></tr><tr><td>Cc:</td><td>jeffrey E.</td></tr><tr><td>Subject:</td><td>Reporty</td></tr></table>

Dear Ehud

I hope this finds you well.&nbs=; It was so nice that you both could join Ferdinando and I for dinner in L=ndon the week before last. I hope you enjoyed it.

My apologies for my late reply,=l was planning to make some introductions for your trip however I th=nk these will now probably have to wait for your next trip.

I had in mind introducing you t= Len Blavatnik as discussed at our dinner he could be a potential investor=in Reporty and David Cameron who I am sure you know but could be hel=ful as a business adviser in the UK. Chris also caught up with Matthew Gould last week, who I understand you know wel= from his time as the UK's Ambassador to Israel. Matthew asked=Chris to pass on his email address to you (

cmailto

In regard to the upcoming bridg=ng round that Amir is proposing, as I have said before, I have some concerts about the current growth strategy of the business. Whilst I am ind=ed impressed with Amir and what he has achieved to date, a level of focus is going to be required to achieve the metrics t=at any top tier VC firm will be looking for to raise further capital at an=elevated valuation. This becomes even more relevant in the context o= Reporty given that they are essentially trying to build a global market from scratch, seeking to replace critical rational infrastructure. In particular, future investors will be look=ng to see strong signals that their customers are repeating their orders (=ence verifying the product), and that this has been done in a few different geographies. As I understand i=, the metrics in Israel are not yet of much substance, let alone other mar=ets they are attempting to enter.

The problem at the moment is th=t the pilots take too long, and are not of sufficient scale. This is=a very expensive way to scale this business and will run out of money before proving the model is scalable.

This leads me to think that the=e are a couple of ways forward. Firstly, as we have discussed before= Amir looks to raise money locally through the Joint Ventures he is settin= up (e.g. America Movil in Brazil). This has the benefit of not diluting shares in the holding company, whilst also=cost efficiently buying time to strengthen the metrics for the company as = whole to then take to VC investors to raise their Series B. He coul= look to do so in a few markets, with potentially a little sweetener offered to the first mover e.g. America Mov=l, in the form of some equity in the holding company. Alternatively,=there could be terms put on the raising of the proposed bridging round, re=tricting the

management to focus on improving the key performance metrics. This will have the effect of =educing the number of markets that Reporty is currently operating in, for = short period of time, to focus on the major ones which have the best chan=e of improving their key metrics.

It may well be that to get thes= JV's and new funding arrangements in place, the proposed $4.5millio= bridging round needs to take place anyway. Either way, the extra ru=way it provides should be to prove out the strategy I have set out above, not to maintain the status of quo of costly expansio= at all costs which Amir is planning to do. </=>

I appreciate that the above is =otentially quite constrictive however my experience to date with early sta=e businesses is that focus is absolutely key. I believe that now is =ust that time when the Reporty team need to focus on building up their key performance metrics before they can take=the next leap forward, and the most efficient way of doing that is by way =f how I have set out above.

Lets talk

Nicole