BUTN LIMITED — Capital/Financing Update 2021

Sep 16, 2021

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Butn Limited ACN 644 182 883 www.butn.co

ASX Code: BTN

Melbourne, 17/09/2021 ASX ANNOUNCEMENT

Amendment of 2018-1 bond terms approved

Highlights

• Noteholders overwhelmingly approve the proposed amendments to the 2018-1 bond

• Significant reduction in the 2018-1 bond funding costs

• Extended eligibility criteria and the ability to issue further Notes, enables growth opportunities

Butn Limited (Butn) is pleased to announce the process initiated with its 2018-1 bond Noteholders as advised on the 6th September, seeking to amend terms with Class A Noteholders and redeem Class B Noteholders effective as at the early call redemption date of 29th October 2021, has been overwhelmingly approved at a meeting of Noteholders today.

The amended bond will have the following key changes:

• extend the Maturity Date by an additional year to 29 October 2023, with early call dates on the 29th October 2022 and 29th April 2023;

• reduce the Interest Rate in respect of Class A Notes to 6.20% (previously 8%) from 29 October 2021;

• enable further Notes to be issued on the same terms, providing additional headroom capacity;

• amend eligibility criteria, enabling Butn to seek a broader base of originations; and

• redeem Class B Notes ($1.5 million) on 29 October 2021 by issuing additional Class C sponsor equity notes, taking the percentage to 15% of the bond amount.

Butn’s Co-founder and Co-CEO, Rael Ross said “Post our recent IPO, this marks the first step in our planned debt restructuring process with the core aims of reducing funding costs, increasing headroom and extending funding flexibility for rapid growth. The approved bond amendments achieve all of these aims. This is clear market support for what Butn has accomplished since the original bond issuance and the B2B funding opportunities that lie ahead of us.”

Authorised by

Rael Ross, Co-CEO and Executive Director of Butn Limited

Further information: Rael Ross, Joint CEO and Exec Director Investor Relations: investors@butn.co

About Butn

Butn Limited is an Australian Business-to-Business (‘B2B’) funder innovating the way SMEs fund and grow their businesses. Butn focuses on transactional funding – funding SME businesses through their working capital constraints by financing individual transactions, leveraging the end debtor’s credit. With a vision of “Your money, today” Butn delivers cashflow funding solutions at the click of a Butn having funded over $700 million to Australian businesses since 2015. For more information visit www.butn.co