BUBS AUSTRALIA LIMITED — Share Issue/Capital Change 2021

Nov 2, 2021

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Announcement Summary

Entity name

BUBS AUSTRALIA LIMITED

Date of this announcement

Wednesday November 03, 2021

The +securities the subject of this notification are:

+Securities issued under an +employee incentive scheme that are subject to a restriction on transfer and are not being quoted on ASX until the restriction ends

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
New class - code	Options exercisable at 65c on or before 2	400,000	02/11/2021
to be confirmed	November 2024

Refer to next page for full details of the announcement

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 1 - Entity and announcement details

1.1 Name of entity

BUBS AUSTRALIA LIMITED

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type

ABN

Registration number

63060094742

1.3 ASX issuer code

BUB

1.4 The announcement is

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New announcement

1.5 Date of this announcement

3/11/2021

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Part 2 - Issue details

2.1 The +securities the subject of this notification are:

+Securities issued under an +employee incentive scheme that are subject to a restriction on transfer and are not being quoted on ASX until the restriction ends

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

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does not have an existing ASX security code ("new class")

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Part 3C - number and type of +securities the subject of this notification (new class) where issue has not previously been notified to ASX in an Appendix 3B

New +securities issued under an +employee incentive scheme ASX +security code +Security description New class - code to be confirmed Options exercisable at 65c on or before 2 November 2024 +Security type ISIN code Options Date the +securities the subject of this notification were issued 2/11/2021 Will all the +securities issued in this class rank equally in all respects from their issue date? No If some of the issued +securities do not rank equally: Is the actual date from which the +securities will rank equally (non-ranking end date) known? No Provide the estimated non-ranking end period Upon exercise of options, the shares will rank equally in all respects Please state the extent to which the +securities do not rank equally: In relation to the next dividend, distribution or interest payment; or For any other reason Options Were any of the +securities issued to +key management personnel (KMP) or an +associate? Yes Provide details of the KMP or +associates being issued +securities. Name of KMP Name of registered holder Number of +securities Dylan Lu Shen Lu 400,000 Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? No Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued.

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Options Details

+Security currency

AUD - Australian Dollar

Exercise price AUD 0.65000000

Expiry date 2/11/2024

Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option

BUBAC : OPTION EXPIRING VAR DATES EX VAR PRICES

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02165603-6A952206?access_token=83 ff96335c2d45a094df02a206a39ff4

Any other information the entity wishes to provide about the +securities the subject of this notification

1. 200,000 Options vest in in the Company 3 months after issue and on the achievement of $50,000,000 in gross sales and $2,000,000 in Normalised EBITDA as at the Company's full year results; and

2. 200,000 Options vest in in the Company 3 months after issue and on the achievement of $60,000,000 in gross sales and $4,000,000 in Normalised EBITDA as at the Company's full year results

Issue details

Number of +securities

400,000

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Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of the entity will comprise:

(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +Securities (Total number of each +class of +securities quoted)

	Total number of
ASX +security code and description	+securities on issue
BUB : ORDINARY FULLY PAID	612,775,580

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

	Total number of
ASX +security code and description	+securities on issue
BUBAC : OPTION EXPIRING VAR DATES EX VAR PRICES	9,541,620
BUBAF : OPTION EXPIRING 10-JUN-2024 EX $0.65	2,000,000
New class - code to be confirmed : Options exercisable at 65c on or before 2 November	400,000
2024

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Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? Yes

5.1a Select the number of the applicable exception in Listing Rule 7.2

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