BUTN LIMITED — Capital/Financing Update 2021

Sep 5, 2021

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Butn Limited ACN 644 182 883 www.butn.co

ASX Code: BTN

Melbourne, 6/09/2021 ASX ANNOUNCEMENT

Proposed amendment of 2018-1 bond terms

Butn Limited (Butn) has commenced a process with its 2018-1 bond Noteholders 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.

The restructure proposal will seek Noteholder approval, which if approved will have the following key changes:

• extend the Maturity Date by an additional year, with early call dates;

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

• enable further Notes to be issued in the future on the same terms;

• amend eligibility criteria, facilitating appropriate opportunities as the business has evolved from the initial issuance; and

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

Key dates*

Notice of Meeting issued to Noteholders	6 September 2021
Meeting of Noteholders	17 September 2021
Effective date, if approved	29 October 2021

• Indicative timetable subject to change

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