ASSET VISION CO LTD — Capital/Financing Update 2021

Sep 26, 2021

Proposed issue of securities

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Update Summary

Entity name

FUTURE FIRST TECHNOLOGIES LTD

Announcement Type

Update to previous announcement

Date of this announcement

27/9/2021

Reason for update to a previous announcement Incorrect lead manager/broker listed at 3E. 1a

Refer to next page for full details of the announcement

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Proposed issue of securities

Part 1 - Entity and announcement details

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1.1 Name of +Entity

FUTURE FIRST TECHNOLOGIES LTD

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).

1.2 Registered Number Type Registration Number ABN 50164718361

1.3 ASX issuer code

FFT

1.4 The announcement is

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Update/amendment to previous announcement

1.4a Reason for update to a previous announcement

Incorrect lead manager/broker listed at 3E. 1a

1.4b Date of previous announcement to this update

27/9/2021

1.5 Date of this announcement

27/9/2021

1.6 The Proposed issue is:

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A standard +pro rata issue (non-renounceable or renounceable)

1.6a The proposed standard +pro rata issue is:

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• Non-renounceable

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Part 3 - Details of proposed entitlement offer issue

Part 3A - Conditions

3A.1 Do any external approvals need to be obtained or other conditions satisfied before the entitlement offer can proceed on an unconditional basis? No

Part 3B - Offer details

Class or classes of +securities that will participate in the proposed issue and class or classes of +securities proposed to be issued

ASX +security code and description

FFT : ORDINARY FULLY PAID

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? Existing class

Will the proposed issue of this If the entity has quoted company +security include an offer of options, do the terms entitle option attaching +securities? holders to participate on exercise? No No

Details of +securities proposed to be issued

ASX +security code and description

FFT : ORDINARY FULLY PAID

ISIN Code (if Issuer is a foreign company and +securities are non CDIs)

ISIN Code for the entitlement or right to participate in a non-renounceable issue (if Issuer is foreign company and +securities are non CDIs)

Offer ratio (ratio to existing holdings at which the proposed +securities will be issued)

The quantity of additional +securities For a given quantity of +securities to be issued held

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What will be done with fractional Maximum number of +securities entitlements? proposed to be issued (subject to rounding) Fractions rounded up to the next 141,961,932 whole number

Offer price details for retail security holders

In what currency will the offer be What is the offer price per +security made? for the retail offer? AUD - Australian Dollar AUD 0.04500

Oversubscription & Scale back details

Will individual +security holders be permitted to apply for more than their entitlement (i.e. to over-subscribe)?

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Yes

Describe the limits on over-subscription

Lapsed entitlements, and entitlements of ineligible shareholders, will be offered for subscription under a shortfall top-up facility. Eligible shareholders can then apply for additional new shares under that top-up facility.

Will a scale back be applied if the offer is over-subscribed?

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Yes

Describe the scale back arrangements

Any scale back of the shortfall top-up facility will be carried out on a pro rata basis.

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class?

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Yes

Part 3C - Timetable

3C.1 +Record date

30/9/2021

3C.2 Ex date

29/9/2021

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3C.4 Record date

30/9/2021 3C.5 Date on which offer documents will be sent to +security holders entitled to participate in the +pro rata issue 1/10/2021 3C.6 Offer closing date 21/10/2021 3C.7 Last day to extend the offer closing date 18/10/2021

3C.9 Trading in new +securities commences on a deferred settlement basis 22/10/2021

3C.11 +Issue date and last day for entity to announce results of +pro rata issue 27/10/2021

3C.12 Date trading starts on a normal T+2 basis 28/10/2021 3C.13 First settlement date of trades conducted on a +deferred settlement basis and on a normal T+2 basis

1/11/2021

Part 3E - Fees and expenses

3E.1 Will there be a lead manager or broker to the proposed offer? Yes

3E.1a Who is the lead manager/broker? Hennessey Capital Partners Pty Ltd

3E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?

Five Percent (5%) of any shortfall placed.

3E.2 Is the proposed offer to be underwritten? No

3E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a handling fee or commission? No

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3E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed offer Legal Fees estimated at $25,000.

Part 3F - Further Information

3F.1 The purpose(s) for which the entity intends to use the cash raised by the proposed issue Proceeds from the Offer (after costs) will be used for technical development work required to integrate Eaglesoft¿s intelligent data capture technology into the Asset Vision platform, expanding sales and marketing capabilities and working capital. 3F.2 Will holdings on different registers or subregisters be aggregated for the purposes of determining entitlements to the issue? No

3F.3 Will the entity be changing its dividend/distribution policy if the proposed issue is successful? No

3F.4 Countries in which the entity has +security holders who will not be eligible to participate in the proposed issue

Countries other than Australia and New Zealand.

3F.5 Will the offer be made to eligible beneficiaries on whose behalf eligible nominees or custodians hold existing +securities Yes

3F.5a Please provide further details of the offer to eligible beneficiaries

The offer will also be made to eligible nominees or custodians residing in Australia.

3F.6 URL on the entity's website where investors can download information about the proposed issue

www.futurefirsttech.io

3F.7 Any other information the entity wishes to provide about the proposed issue

No

3F.8 Will the offer of rights under the rights issue be made under a disclosure document or product disclosure statement under Chapter 6D or Part 7.9 of the Corporations Act (as applicable)? No

3F.9 Any on-sale of the +securities proposed to be issued within 12 months of their date of issue will comply with the secondary sale provisions in sections 707(3) and 1012C(6) of the Corporations Act by virtue of: The publication of a cleansing notice under section 708A(5), 708AA(2)(f), 1012DA(5) or 1012DAA(2)(f)

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