ADNEO LIMITED — Capital/Financing Update 2016

Jul 28, 2016

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Company Update

Friday 29 July, 2016

(ASX: AD1)

In addition to providing the quarterly cash flow report, the Company is also delighted to provide this business update. As the Company was only listed for a week during the period relevant to the cash flow statement, much of the progress below was made subsequent to this period. We have:

• Appointed our new CEO, Lorcan Barden, who will commence on 12 September. In advance of assuming the post, Lorcan is taking advantage of the time available to learn about ApplyDirect and identify the key immediate priorities for the business

• Received an order from a Government Department responsible for one of the largest recruitment advertising budgets in Australia

• Opened discussions with another State Government in relation to our whole of government solution, which has already been implemented for the NSW Government

• Consistent with our Channel Partners strategy, executed our first Reseller agreement with an e‐ recruitment provider.

• From a candidate engagement perspective, passed the 10 million cumulative user mark

www.applydirect.com.au PO Box 404 Kew VIC 3101 Phone : 1300 554 842