AIRTASKER LIMITED — Capital/Financing Update 2021

Mar 22, 2021

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23 March 2021

ASX RELEASE Company Announcements Platform

AIRTASKER LIMITED COMPLETES SUCCESSFUL IPO

Highlights:

• Airtasker Limited ( Airtasker ) lists on the Australian Securities Exchange (ASX) following a significantly oversubscribed initial public offer

• All metrics across the business continue to perform strongly and Airtasker expects to meet or exceed its prospectus forecast

• Higher than expected demand received from Airtasker staff and Taskers, with over $2.5 million subscribed from these stakeholders

Local services platform Airtasker has successfully listed on the ASX today at 11:00 am under the code “ART”.

The IPO was more than five times oversubscribed by institutional and retail investors, enabling the company to build a strong register of local fund managers in addition to approximately 3,800 retail shareholders.

Airtasker offered staff shares under the IPO and was delighted by the uptake. Whilst existing staff already hold significant equity through the company's employee share ownership plan, current and former Airtasker staff subscribed for over $1.6m in additional shares, with 45% of Airtasker staff participating in the IPO at an average investment of $22,400.

The Company was equally pleased with the takeup from the highly select group of Taskers offered the opportunity to participate in the IPO, with ~$1m being subscribed by more than 700 independent Taskers, further aligning the Company and this important stakeholder group.

Operational and financial performance since the beginning of 2H FY21 has been strong, despite capital city lockdowns. All metrics are performing at or above expectations and the Company is confident it will meet or exceed its prospectus forecast.

Commenting on the IPO, Airtasker CEO Tim Fung said:

“We’ve been absolutely delighted by the response Airtasker received from institutional and retail investors in our IPO which was more than 5X oversubscribed. But an even more important signal is the demand we received from our Tasker community and our staff, who subscribed for shares more than 10X our initial expectations!

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We have an incredible foundation to build from and we’re excited to be taking our new shareholders on the exciting journey to fulfill Airtasker’s mission: to empower people to realise the full value of their skills.”

This statement was authorised by the Board of Airtasker Limited.

For further information please contact:

Jaime Broomberg, Edelman 0416 138 536 jaime.broomberg@edelman.com