AI-MEDIA TECHNOLOGIES LIMITED — Board/Management Information 2021

Aug 30, 2021

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ASX ANNOUNCEMENT

31 August 2021

Retirement of Director: Jonathan Pearce

Melbourne, Australia, 31 August 2021: Ai-Media Technologies Limited (“ Ai-Media” or “ Company” (ASX: AIM) today announced the retirement of Jonathan Pearce from the Company's Board. Mr Pearce joined the board in January 2020 as a nominee for the CVC Emerging Companies Fund (“ CVC ”) who were cornerstone investors in the Company's pre-IPO capital raise in December 2019.

Commenting on Mr Pearce's retirement, Board Chair Deanne Weir said "On behalf of the Board I want to thank Jonathan for his wonderful contribution to Ai-Media in the two most critical years of the Company's history. Jonathan's support and insight has been fundamental to the company's IPO journey, and during our first year as a listed company, which has laid the foundations to accelerate our future global growth. Now that we have successfully delivered on our IPO projections with the delivery of our FY21 results, Jonathan has advised this is the right time for him to step down, and he does so with our deep gratitude and respect.”

Ms Weir noted that a process has been commenced to appoint a new independent director and that the Board intends to announce that appointment prior to the Company's Annual General Meeting in November. Further, Ms Weir also noted that CVC had agreed to waive its right to appoint a nominee director to the Company's Board.

Mr Pearce commented "It has been a privilege to serve on the Board of Ai-Media. I’ve been following the Company's journey for more than eight years and it was awesome to have the opportunity to cornerstone the pre-IPO raise and support the Company over the last two years. I know the Company is in great shape and has an exciting future ahead and thank the Company for the opportunity to be part of the journey.”

Ai-Media Co-Founder and CEO Tony Abrahams said “Jonathan Pearce was one of the very first institutional investors to see the opportunities ahead for Ai-Media more than eight years ago. Since then, he has been a great source of advice and insight to me on our journey towards being listed on the ASX. I am especially grateful for CVC's cornerstone investment (and Jonathan’s substantial personal investment) in our pivotal pre-IPO round, which helped us secure the ACS acquisition. Jonathan has served with distinction as an active and independent director and helped guide AiMedia through a transformative 18 months.”

ENDS

Authorised for release by the Ai-Media Board.

Further Information

AIM

Sue Sanossian Company Secretary +61 2 8870 7711 investorrelations@ai-media.tv

NWR Communications

Simon Hinsley Director +61 401 809 653 simon@nwrcommunications.com.au

Registered Office Level 6, 277 William Street, Melbourne VIC 3000

Corporate Office Level 1, 103 Miller Street, North Sydney NSW 2060

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About Ai-Media

Founded in Australia in 2003, technology company Ai-Media has become a global leader in the provision of high-quality live and recorded captioning, transcription and translation services. Its technology platform combines artificial intelligence and human expertise to deliver speech-to-text accuracy in three price points: automated (Lexi), semi-automated (Smart Lexi), and premium (AiLive). The company is the biggest captioning provider in the Australian market, with clients including major free-to-air and pay television networks, and has a growing international footprint, with offices in Australia, the US, UK and Canada. Globally, Ai-Media technology delivers 7 million minutes of live and recorded media content, and online events and web streams every month. Ai-Media (ASX: AIM) commenced trading on the ASX on 15 September 2020.

For more information on Ai-Media please visit https://www.ai-media.tv/

IMPORTANT NOTICES

This announcement is not financial product or investment advice, a recommendation to acquire securities or accounting, legal or tax advice. It does not constitute an invitation or offer to apply for securities. It has been prepared without taking into account the objectives, financial or tax situation or needs of individuals. Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial and tax situation and needs and seek legal and taxation advice appropriate for their jurisdiction. Ai-Media is not licensed to provide financial product advice in respect of an investment in securities.

Registered Office Level 6, 277 William Street, Melbourne VIC 3000

Corporate Office Level 1, 103 Miller Street, North Sydney NSW 2060