Panorama Synergy Limited : Response to ASX Aware Letter

20 January 2014

Mr. Jeremy Newman

Adviser

Listings Compliance (Perth) ASX Compliance Pty Ltd Level 8 Exchange Plaza

2 The Esplanade

Perth WA 6000

By Email: [e-mail] Panorama Synergy Ltd

ACN 060 369 048

Dear Jeremy,

Panorama Synergy Limited (the "Company") [ASX Code: PSY] Reply to ASX letter dated 17 January 2014 (ASX Letter)

We refer to the ASX Letter and provide the Company's response to each of the questions in a format suitable pursuant to the provisions of Listing Rule 18.7A.

In order to provide a degree of consistency in our response and for referencing purposes, we have adopted, and where relevant, used terms as defined in the ASX Letter, namely: