8COMMON LIMITED — Capital/Financing Update 2020

Dec 15, 2020

8common

ASX Release

16th December 2020

NT Gov go-live and improving travel activity positive for revenue

• 49 Northern Territory agencies via the Department of Corporate Information Systems (DCIS) have gone live with the implementation of Expense8

• The go live represents the commencement of the new contract terms and will provide an uplift to 8common’s Software as a Service recurring & transaction revenue in CY21

• The DCIS is the eighth customer to go live in Q2 FY21 following the previously announced five Federal Government entities onboarded under the Service Delivery Office (SDO) of the Department of Finance shared services hub

• Travel activity within the Expense8 platform has increased considerably as States open their borders with December pre-trip approval fees 100% above October levels

• With increasing travel activity, improving business conditions and a growing number of Expense8 users the Company is well positioned for strong growth over the remainder of FY21

Fintech company 8common Limited (8common or the Company) (ASX: 8CO), is pleased to announce that it has gone live with the implementation of Expense8 Travel and Expense Management Software for the Northern Territory Department of Corporate Information Systems (ref ASX announcement 7 January 2020). 8common’s contract with the DCIS was extended for a further three years and the commencement of the new contract terms delivers the benefits of the Expense8 platform to 49 Northern Territory Government entities with 21,000 users serviced by the contract. During the course of the implementation we have seen a large increase in the number of entities (+11) and users (+13,000) of the system, as new departments have been onboarded onto the platform and usage has expanded.

The DCIS is the eighth customer to be onboarded in Q2 FY21 after the previously announced five Federal Government entities onboarded under the Service Delivery Office (SDO) of the Department of Finance shared services hub (ref ASX announcement 26 November 2020). 8common continues to build on our client base with the Federal, New South Wales and Northern Territory Governments where Expense8 Travel and Expense Management (TEM) and card services are utilised by over 150 state and federal entities as well as large corporations with over 140,000 active users.

Activity levels within the travel component of Expense8 have increased significantly over the past month as States open their borders with December pre-trip approvals up 100% on October levels. The continued normalisation of travel activity into FY21 will provide a significant boost to the Company’s revenue levels.

Andrew Bond, 8common’s Chief Executive Officer said, “The whole of government upgrade to Expense8 for the Northern Territory Government via the DCIS is a strong endorsement from one of our longstanding clients. This also represents the single largest deployment of Expense8 to 49 agencies and over 21,000 users, a strong testament to the teams’ ability to execute in what has been a very busy period.”

“As Government and the private sector travel normalises in CY21 we expect the uplift in activity will drive an increase in our expense management activities. We continue to see a strong pipeline of growth for FY21 and beyond and we look forward to expanding our presence across the State & Federal Governments as well as large enterprise corporations”

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

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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 140,000 platform users include enterprise customers Woolworths, Broadcast Australia, Amcor, and over 150 state and federal government entities. For more information, visit https://www.8common.com/

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