ADNEO LIMITED — Capital/Financing Update 2020

Jun 24, 2020

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

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AD1 wins new contracts and extends Managed Services Agreement with the NSW Government

Melbourne, Australia, 25 June 2020 : AD1 Holdings Limited (ASX: AD1) ( AD1 or the Company ) today announced that it has renewed the Managed Services Agreement ( MSA ) with the NSW Government for a further two (2) year term.

The services under the MSA include the ongoing hosting and maintenance of the iworkforNSW careers platform and the provision of related digital services. The careers platform was designed and implemented for the NSW Government five years ago and has successfully delivered high levels of jobseeker attraction and engagement over this period.

In addition to the extension of the MSA, the Company is also pleased to announce that it has signed two new contracts with the NSW Government to:

• Integrate the new NSW Government cluster called Regional NSW into the existing iworkforNSW platform

• Enhance functionality of the iworkforNSW platform to allow a more consistent presentation of NSW Government jobs online to better direct jobseekers to their preferred channels

AD1 CEO, Prashant Chandra, said: “AD1 has been a trusted partner of the NSW Government for five years and this new two-year extension demonstrates the strength of that relationship, as well as the confidence that the NSW Government has in our platform and service offering.

“Importantly for AD1, this long-term relationship continues to provide an ongoing stream of new contracts as we collaborate with the NSW Government on their iworkforNSW innovation roadmap, such as the integration of the Regional NSW cluster and functionality enhancements to the platform.

“Along with our other major managed services contracts, securing a two-year partnership extension with the largest employer in Australia further solidifies the revenue foundation of the Company.”

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This release has been authorised by the Chief Executive Officer.

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