BUBS AUSTRALIA LIMITED — Share Issue/Capital Change 2021

Jun 10, 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

Friday June 11, 2021

The +securities the subject of this notification are:

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+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

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	Employee Options	2,000,000	10/06/2021
to be confirmed

Refer to next page for full details of the announcement

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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

ACN

Registration number

060094742

1.3 ASX issuer code

BUB

1.4 The announcement is

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New announcement

1.5 Date of this announcement

11/6/2021

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Part 2 - Issue details

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2.1 The +securities the subject of this notification are:

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+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

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

ASX +security code +Security description New class - code to be confirmed Employee Options +Security type ISIN code Options

Date the +securities the subject of this notification were issued 10/6/2021

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 issued 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

The securities are 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
Richard Paine	Richard Paine <RFP Investment A/C>	400,000
Iris Ren	Wei Ren	400,000
Vivian Zurlo	True North Company Pty Ltd	400,000
David Orton	Catherine Anne Orton	400,000
Fabrizio Jorge	Fabrizio Jorge	400,000

Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? No

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Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued.

Options Details

+Security currency

AUD - Australian Dollar

Exercise price Expiry date AUD 0.65000000 10/6/2024

Expiry date

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

Other

Description

Ordinary Shares

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

For each employee:

(i) 200,000 Options Vest 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

(ii) 200,000 Options Vest 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

2,000,000

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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
New class - code to be confirmed : Employee Options	2,000,000

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

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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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