8COMMON LIMITED — Capital/Financing Update 2020

Dec 23, 2020

8common

ASX Release

24 December 2020

Significant CardHero contract for $1.6m signed with Life Without Barriers

• Inaugural contract signed with not-for-profit Life Without Barriers for CardHero+.

• Initial 3-year contract valued at $1.6 million with estimated annual SaaS revenue of ~$500k per annum and a one-off implementation fee of $150k.

• Commences with the rollout of EML issued Mastercards to 2,500 people within Life Without Barriers - representing ~15% of the total employee and client base.

• Broader opportunity exists to rollout CardHero product to other not-for-profit organisations.

8common Limited (ASX: 8CO) announces that it has signed its inaugural CardHero contract with Life Without Barriers, a large not-for-profit organisation supporting 23,000 people living across 400 communities across Australia.

The CardHero and CardHero+ platforms have two distinctive use cases and clients:

• CardHero is an integrated card payment and expense management solution for government and large enterprise clients.

• CardHero+ is an integrated fund disbursement and spend management solution for use by Notfor-Profits and educational institutions to disburse funding and reconcile transactions.

The CardHero platform combines EML Payments (ASX:EML) issued pre-paid Mastercards with 8common’s Expense8 spend reconciliation solution. CardHero leverages the Expense8 platform which serves over 150 government entities, large corporates including Woolworths, Amcor and others.

The $1.6 million, 3-year contract incorporates an implementation fee of $150,000 and approximately $500,000 per annum in transaction fees. Life Without Barriers plan to utilise CardHero to disburse funds and manage expenses from this contract to roll out 3,500 cards across 380 disability care homes across Australia.

Life Without Barriers provides a range of services under the National Disability Insurance Scheme (NDIS) in every Australian state and territory. The NDIS gives people choice and control over their supports. It’s designed to help people with daily living tasks, achieve their goals and build connection to their community. In 2019, Life Without Barriers supported 6,098 people with disability out of whom 4,043 people are participants of the NDIS.

CardHero+ will enable a streamlined funds disbursement platform and expense management system for Life Without Barriers. This platform will provide a seamless funds and expense management process for the end user, reducing administrative time spent on validating and reconciling expenses and streamlining the distribution of funds.

In addition to Life Without Barriers, a broader opportunity exists to provide the CardHero product to other not-for-profits NDIS service providers, resulting in a significantly large, wider market opportunity for the CardHero offering.

8common CEO Andrew Bond said, “The scale and sophistication of disbursement programs amongst not-for-profits, charities and grant programs has driven the requirement for more advanced solutions like CardHero+. The integrated funds disbursement and expense reconciliation capabilities are well

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8common

supported by our experience and position as a preferred supplier to government and large corporates. We are well placed to deliver the CardHero+ platform and capture this growth opportunity.”

8common COO Ben Brockhoff said, “We are excited to be working with Life Without Barriers as the first use case of our CardHero+ product and we are confident in the ability for our integrated solution to address the disbursement and expense opportunities within the Not-for-Profit sector. Our success in delivering travel and expense management solutions to government and large enterprises with expense8 ensures we have a robust underlying platform and support for the CardHero product rollout to one of Australia’s largest Not-for-Profit organisations.”

This release has been approved by the Board of 8common.

Further information

Corporate Investors Nic Lim Craig Sainsbury nic@8common.com Craig.sainsbury@marketeye.com.au Executive Chairman

About 8common Limited

8common (ASX:8CO) solutions deliver enterprise grade financial transaction processing for government entities and large enterprise businesses. Its flagship Expense8 platform is a leading pureplay provider of end to end travel expense management software, card application and management. The innovative software solutions improve organisation, productivity, incorporate company organisational policies and expense auditing to reduce fraud. Expense8 by 8common was named a Major Player in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Travel and Expense Management Applications 2019 Vendor Assessment.

Its new products being PayHERO (procurement payment gateway) and CardHERO (pre-paid card fund distribution) deliver closed loop solutions to support regulated, large network and high volume requirements. 8common specialises in large enterprise and government segments.

Its growing client base of more than 148,000 platform accounts include enterprise customers Woolworths, Broadcast Australia, Amcor, and over 150 state and federal government entities. For more information, visit https://www.8common.com/

About Life Without Barriers

Life Without Barriers is a charitable organisation supporting close to 23,000 people living in over 400 communities across the nation. They provide people with the services and assistance they need so they can achieve their goals and maximise their opportunities to participate as fully in society as they wish. Life Without Barriers partner with communities, elders, government and the private sector to ensure it can achieve positive long-term change in the lives of people.

Established close to three decades ago, Life Without Barriers partners with people to improve lives for the better. This foundational purpose carries it forward today as one of the largest national providers of social services in Australia.

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