8COMMON LIMITED — Capital/Financing Update 2022

Jan 13, 2022

8common

ASX Release

14 January 2022

$752k contract to onboard first 14 entities on to GovERP

Fintech company 8common Limited (8common or the Company) (ASX: 8CO) is pleased to announce that it has received its second significant contract under the recently signed Australian Government GovERP deed.

Highlights:

• Significant $752k inc-GST contract from the Australian Government under the GovERP program. Total value of signed contracts to date under the GovERP is over $1.4 million (incGST)

• The contract covers two streams which consists of upgrading seven existing customer entities to the GovERP version of Expense8 and the pre-onboarding consultation for seven new entities. This collectively incorporates over 10,500 users, on to the GovERP version of the Expense8 travel & expense management platform

• Post implementation, users from the fourteen agencies will be able to utilise the Expense8 platform generating ongoing transaction and recurring revenues

• Currently 8CO generates a Federal Government ARPU of $42 ($53 pre-covid) servicing over 20,000 employees across 30 entities

• Revenue from this contract will be recognised in Q3 and Q4 FY22 with the associated SaaS transaction and recurring revenue commencing in 1H FY23

• Under the GovERP, 158 Federal Government entities can be onboarded to the Expense8 platform

• 8CO anticipates to onboard further agencies under the GovERP agreement during the remainder of FY22 and into FY23

The GovERP platform enables the selection of Expense8 under a pre-selected panel of service providers. Expense8 is the exclusive provider under the Travel and Expense Management Value Stream for the Shared Services Program which includes approx. 150k employees across 158 Government Entities.

The $752k (inc-GST) contract represents the fees to commence the onboarding of the first fourteen agencies under the GovERP agreement. The fourteen Federal Government entities to be onboarded represent over 10,500 users (with the majority being new users to the platform).

Today’s agreement follows the initial $542k contract under the GovERP for the commencement of the work packages under the GovERP deed (27 October 2021) and several other smaller agreements under GovERP taking the total value of signed contracts to date under the GovERP to over $1.4 million (incGST).

8common CEO, Andrew Bond said “We are very excited to deliver Expense8 to GovERP and the Australia Federal Government on an accelerated basis. Today’s contract reflects the mutual commitment from all stakeholders. With an additional 158 entities and approx. 150k users who can onboard to Expense8 in coming years, the GovERP deed represents a significant driver of revenue growth and shareholder value. We are looking forward to welcoming the new agencies and their staff on to our leading end-to-end travel and expense management solution. The addition of the revenue from the GovERP contracts coupled with our base operations and growing rollout of our CardHero product will deliver a step change increase in our revenue profile in FY22 and beyond.”

The 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.

8common

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.

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

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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 product CardHero (prepaid card fund distribution) delivers solutions to support regulated, large network and high-volume requirements. CardHero helps boost compliance with smart rules and spend controls at an organisation and user level.

Its growing client base of more than 173,000 platform users include enterprise customers Woolworths, Broadcast Australia, Amcor, and over 168 state and federal government entities. For more information, visit https://www.8common.com/