A LETTER FROM THE EXECUTIVE CHAIRMAN

Dear Fellow Shareholders,

On behalf of the Board of Directors of Atlas Pearls Limited, I am proud to present you with the Company’s 2021 Annual Report. Despite some unique challenges during the year, Atlas successfully met its principal objective to produce and distribute high quality, luxurious South Sea Pearls safely and sustainably.

The commencement of FY2021 coincided with the spread of the COVID-19 pandemic and the accompanying implications and uncertainties of such unique challenges was a key focus for the Board and Senior Management Team.

I can wholeheartedly say that I am not only pleased with the performance of the Company this financial year, but I amoverwhelmed with the resilience, support and flexibility shown at every level of the Company.

Our staff have sacrificed much during the last year includingDirectors, Perth and Expatriate personnel accepting pay reductions for nine months. All staff have continued to be heavily impacted by travel restrictions that interrupt the movement of both people and pearls with some staff remaining for large stretches at ourisolated pearl farms. Employees are adapting to find solutions to last minute logistics changes from the farm level to the finalcustomer interface....

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