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QuintessenceLabs closes Seed Financing and wins Commercial Ready Grant.

QuintessenceLabs, the leader in quantum communications technology for networking,
communications, national security and defence, today announced that it had
successfully closed $2m in seed financing including the successful winning of an
AusIndustry Commercial Ready grant.

Canberra, June 12, 2008: QuintessenceLabs, the leaders in ultrasecure, untappable quantum
communications technology, today announced that it had successfully closed $2 million in seed
financing from private individuals, including the winning of a $1 million government grant to
develop high performance, high security quantum cryptography technology.

Based on 5 years of in-process R&D, QuintessenceLabs is the world leader in 2nd generation
quantum cryptography technology that can protect information in transit with true end-to-end, realtime,
one-time pad encryption. Products incorporating our bright laser beam technology can
achieve high speed, untappable, ultra-secure communications.

Winners of the prestigious Eureka Prize, QuintessenceLabs’ unique team combines world class
quantum physicists and security engineers. The seed stage funding will be used to drive core
development of the underlying technology and commercialization of QuintessenceLabs’ Quantum
Key Distribution (QKD) products.

“We are very proud to be one of the few companies among hundreds that have been selected for
the award of a Commercial Ready grant, as well as having secured seed financing in the current
economic climate”, said Vikram Sharma, Chief Executive of QuintessenceLabs, “Together this is
strong testament to the high calibre of our technology and our world class technical team”.
The Commercial Ready program is AusIndustry’s flagship innovation grants product, providing $200
million a year to small and medium enterprises.