8COMMON LIMITED — Capital/Financing Update 2020

May 7, 2020

8common

8 May 2020

ASX Release

Realtors8 earnout and write down

8common Limited (ASX: 8CO), a leading provider of travel expense management software and card application management, advises that the final earnout for the sale of Realtors8 will not be received.

As announced to the ASX on 16 February 2018 in relation to the binding sales agreement for Realtors8 to Cloudaron Group Berhad (Cloudaron), the Tranche 2 payment via the issuance of 13,013,875 Cloudaron shares was dependent on the EBITDA guarantee provided by 8common that the combined EBITDA of Realtors8 Group shall not be less than S$400,000 (Singapore Dollars) for each FYE 31 March 2019 and FYE 31 March 2020.

We have been advised by the auditors for Realtor8 Pte Ltd that this threshold was not met. Accordingly, 8common has impaired the full deferred consideration component of A$388,000 that was held on its Balance Sheet related to the Tranche 2 payment by Cloudaron.

8common maintains a strong net cash position of $1.8m (as at 31 March) which provides the ability to deliver on our business as usual activities, invest in opportunities that arise and continue the development of CardHERO.

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This announcement has been authorised for release by the Board.

Further information

Corporate Investors Nic Lim Craig Sainsbury nic@8common.com Craig.sainsbury@marketeye.com.au Executive Chairman +61 428 550 499

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’s specialises in large enterprise and government segments. Its growing client base of more than 120,000 platform users include enterprise customers Woolworths, Broadcast Australia, Amcor, and over 131 state and federal government entities.

For more information, visit https://www.8common.com/

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