ADNEO LIMITED — Capital/Financing Update 2020

Sep 20, 2020

AD1 Holdings Limited ACN 123 129 162 Suite 102, 697 Burke Rd Hawthorn East, VIC 3132

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AD1 signs three-year contract with Powerclub

Melbourne, Australia, 21 September 2020 : AD1 Holdings Limited (ASX: AD1) (AD1 or the Company) is pleased to announce that its fully owned subsidiary Utility Software Services (USS) has signed a Master Services Agreement with Power Club Limited (Powerclub) for the provision of its CORE Customer Interface SaaS platform and related managed services. The initial term of the contract is three years.

Powerclub is a highly innovative and rapidly growing member-owned energy retailer which challenges the industry’s status quo by providing retail and business customers access to wholesale energy pricing.

AD1 CEO, Prashant Chandra, said: “We are excited to welcome Powerclub as a new customer. We believe Powerclub has outstanding commercial prospects based on its unique capabilities to offer truly competitive, disruptive, and compelling energy solutions. An energy provider for the digital world, Powerclub’s innovative energy solutions are underpinned by technology and it is very pleasing that they have selected USS as their technology partner on this journey. The successful appointment of USS under this contract is further validation of our value proposition within the energy retail market.

“The contract commences in the current quarter with the implementation of the solution, and is expected to materially add to revenue over its three-year term. In addition, the Company also expects to continue its new business momentum with strong pipelines across both utilities and recruitment-platform divisions.”

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This release has been authorised by the Board of Directors.

Andrew Henderson Prashant Chandra Chairman CEO AD1 Holdings Limited AD1 Holdings Limited 03 8199 0455 03 8199 0455