AUSSIE BROADBAND LIMITED — Capital/Financing Update 2021

Sep 7, 2021

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ASX Announcement 8 September 2021

Aussie Broadband completes $114m institutional placement to accelerate growth strategy

Highlights:

• Successful completion of placement raising $114.0 million (before costs) strongly supported by new and existing institutional, sophisticated and professional investors.

• Proceeds will be used to support growth by M&A, new business product and technology development, and/or further fibre and network build.

• In addition, Aussie Broadband will offer all existing eligible shareholders the opportunity to participate in the capital raise under a Share Purchase Plan (SPP). The SPP will be capped at $10.0 million[1] .

Successful placement

Aussie Broadband Limited (ASX:ABB) is pleased to announce that it has received firm commitments to raise $114.0 million before costs via a placement of 28.5 million ordinary shares to new and existing institutional, sophisticated, and professional investors.

The funds will be used to support acquisitive growth by M&A, new business product and technology development, and/or increase technology development to improve network efficiency and fund the growth of fibre and network assets.

The issue price for the placement shares was $4.00 per share representing a:

• 13.6% discount to the last traded price of the company’s shares on 6 September 2021; and

• 2.6% discount to the previous 10-day volume-weighted average price of the company’s shares traded on the ASX up to and including 6 September 2021.

The placement shares are expected to be allotted and issued on Wednesday 15 September 2021 and will rank equally with the company’s existing ordinary shares on issue. The placement shares will represent approximately 15% of the issued capital of the company before the placement and will be issued within Aussie Broadband’s existing placement capacity under ASX Listing Rule 7.1.

"We are very encouraged by the strong level of support from new and existing institutional, sophisticated and professional investors,” said Managing Director Phillip Britt.

“We greatly appreciate the backing of existing shareholders who participated in the placement and welcome new shareholders that have joined the register as part of the equity raise.

“There are promising opportunities to execute transformational acquisitions in the business segment that will complement and improve Aussie Broadband’s position in the market.

“We believe this will help us to continue delivering outstanding results for our shareholders and help the company to continue to change the telco game in Australia.”

1 Aussie Broadband reserves its right to accept oversubscriptions subject to demand

Share Purchase Plan

The company is pleased to announce the opportunity for eligible shareholders of the company to participate in a capital raising via a Share Purchase Plan (SPP), targeting to raise an additional $10 million by the issue of New Shares at $4.00, being at the same price as the placement.

Further information in relation to the SPP, including the SPP terms and conditions, will be outlined in a separate SPP offer document which is expected to be released to ASX and dispatched to eligible shareholders on Wednesday, 15 September 2021.

Any oversubscriptions received on the SPP are expected to be scaled back on a pro rata basis, subject to the company's Board of Directors' absolute discretion.

The key dates for the SPP are as follows:

Event	Date
SPP record date	7.00pm (AEST) Tuesday, 7 September 2021
Expected dispatch of SPP offer documents to	Wednesday, 15 September 2021
eligible shareholders and SPP offer opening date
Expected SPP offer closing date	5.00pm (AEST) Friday, 1 October 2021
Announce results of SPP	Wednesday, 6 October 2021
Allotment and normal trading of new shares	Friday, 8 October 2021
under SPP

Other than the SPP record date, the above timetable is indicative only and may be changed by the company from time to time.

Findex Corporate Finance has acted as financial adviser to the company. The placement was undertaken by Shaw and Partners Wholesale as Lead Manager and Ord Minnett acted as Co-manager.

ENDS

Authorised for release by the Aussie Broadband Board.

For media enquiries please contact Katrina Salhioui on 0448 110 962

For registry queries please contact Link Market Services on 1300 554 474

For other enquiries please email investors@team.aussiebroadband.com.au

About Aussie Broadband Limited:

Aussie Broadband is an Australian owned and operated telecommunications company that was formed in 2008 and is based in Morwell Victoria, Australia.

The company’s main focus is nbn™ (NBN) subscription plans and bundles to residential homes, small businesses, not-for-profits, corporate/enterprise and managed service providers.

As a licensed carrier, the company provides these services through a wholesale agreement with NBN Co, a mix of leased backhaul infrastructure from third parties and its own network equipment.

The company also offers a range of other telecommunications services including VOIP, mobile plans and handsets, entertainment bundles through its partnership with Fetch TV and connections through its own fibre, the Opticomm network and its white label platform.