AUDEARA LIMITED — Capital/Financing Update 2024

Feb 26, 2024

• The AUA Technology business unit has received its first purchase order to mass manufacture for a third party brand

• PO marks the largest single order Audeara has received since inception

Audeara Limited (ASX:AUA) is pleased to announce a milestone in the growth of the AUA technology business unit, being the transition from development phase to contract manufacturing and licensing phase with its music instrument customer. First announced in Q2 FY23, the project has reached a crucial phase of preparation for mass production ahead of the commercial launch of the product to the market, anticipated in H1 FY25.

The purchase order is expected to have a significant positive impact on the Company’s cashflow and its push toward breakeven and profitability, in keeping with Audeara’s strategic focus on the growth of its technology licensing division which does not incur sales and marketing expenditure.

“Through this exciting partnership with a global category leader, we are thrilled to see the technology we’ve been developing for years gain access to additional high scale markets. As part of that process, the team’s progress throughout the transition from hardware product development to professional services and licensing has been highly commendable. Building best-in-class audio solutions is our passion, and Audeara envisions that this partnership is just the beginning of future product sales and licensing agreements aimed at expanding the reach of our technology in collaboration with established industry leaders. ”

The value of the purchase order from Avedis Zildjian is $2.1m AUD. The timing and size of any future orders will be determined by market success of the product.

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Managing Director and Chief Executive Officer Six Degrees Investor Relations

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Audeara Limited (ASX: AUA) is a global hearing health leader specialised in innovative listening solutions for people with hearing challenges.

We are passionate about redefining hearing health, with a particular focus on delivering products that provide world-class tailored listening experiences.

We care about connecting people with experiences that bring them joy - whether that’s watching a favourite TV show, FaceTiming family or listening to music with confidence.

All Audeara products are purposefully designed and engineered in Australia with precision detail and state-of-the-art technology. Each product delivers optimum listening experiences to enhance quality of life for people of all ages and abilities.

Audeara sells its products through distributors and resellers in Australia, Europe, Asia and North America, and through e-commerce channels.