AUDEARA LIMITED — Capital/Financing Update 2022

Jun 6, 2022

Jun 7, 2022

• A$1.0m Placement to Strategic Investor Mr Bill Peng

• Funding to be used in supporting sales growth in domestic and international markets

Audeara Limited (ASX: AUA) (‘Audeara’ or ‘the Company’) is pleased to announce the completion of a A$1.0m placement with a strategic investor, Mr Hsin-Chieh “Bill” Peng. The Company has issued 10,000,000 shares at a price of $0.10 per share to BP Peng Pty Ltd atf BP Peng Trust. This price represents an 11% premium to yesterday’s closing price.

Use of funds

Funds from this Placement will be used to provide working capital for an expanding sales team, forward stock ordering and logistics. This is to support expected growth from initial stocking of new sales channels, and as a result of expected growth in monthly sales from existing clinics currently stocking Audeara products.

As previously announced, clinic sales have recovered from COVID and flood related disruption and delays, and Audeara is now working with clinic groups to improve in-store sales levels. Audeara also continues to sign new clinic groups to grow its reseller footprint. This recovery and growth has continued with another strong month of sales in May, with initial management reports indicating approximately $230k of product sales for the month. Total sales for the quarter expected to surpass the previous best quarter in early June..

Welcoming Mr Bill Peng

The Company welcomes Mr Peng as a strategic investor and looks forward to levering his extensive background and network in Asian manufacturing and markets. Mr Peng has extensive experience in new technology development, market launches and business-to-business growth, and has previously assisted Audeara management in exploring opportunities for manufacturing, sales and R&D in Taiwan and China.

In addition to his investment in Audeara, the Board and management are in discussions with Mr Peng to explore opportunities for him to work more directly with the Company.

This announcement has been authorised by the board of Audeara Limited.

For more information please visit, audeara.com.

MEDIA ENQUIRIES INVESTOR ENQUIRIES M&C Partners M&C Partners Melissa Hamilton Ben Henri melissa.hamilton@mcpartners.com.au ben.henri@mcpartners.com.au

ABOUT AUDEARA

Audeara makes perfect sound, always.

Audeara Ltd (ASX: AUA) is a hearing health technology company that delivers high-quality personalised audio to listeners via Bluetooth headphones.

A proprietary personalisation algorithm calibrates the headphones for an individual’s unique hearing profile. This provides crystal clear sound quality for video conferencing and telephone calls and using mainstream applications like watching television, listening to music and gaming.

Categorised as an assistive listening device (ALD), Audeara's unique technology emphasises better, not louder sound. This means listeners can have a safer, high-quality listening experience that protects the hearing they have.

The Company sells its products through distributors and resellers in Australia and North America, and via e-commerce channels.