CLUEY LTD — Capital/Financing Update 2021

Sep 30, 2021

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ASX Announcement

1 October 2021

Cluey Completes Acquisition of Code Camp

Cluey Ltd (ASX: CLU) (“Cluey”), Australia’s largest dedicated online academic support and school tutoring company, today announces the completion of the acquisition of coding and digital skills provider, Code Camp Holdings Pty Ltd (“Code Camp”).

• The acquisition of Code Camp will extend Cluey’s services to include B2B and B2B2C offerings, as well as enable Cluey to offer face-to-face school holiday camps and afterschool programs

• Code Camp will broaden Cluey’s product mix, providing the opportunity to increase active customers and lifetime value, and lower customer acquisition costs

• Code Camp provides counter-cyclical revenue streams in the school holiday periods, when the consumption of tutoring services is typically lower

• The Code Camp acquisition was funded partly in cash ($1.3m) and the balance by the issue of 5,987,489 shares[1] at a price of $1.119 per share

• Cluey has completed an equity capital raising of $14m, comprising a $12m placement (“Placement”) and $2m Share Purchase Plan (“SPP”)

• Proceeds from the Placement and SPP will be used to support the acquisition and growth of Code Camp, and assist in funding additional growth opportunities

An Investor Presentation summarising the details of this acquisition was released to the market on 30 August 2021.

About Code Camp

Code Camp focusses on the primary school market comprising 2.3 million children in Australia. Code Camp was established in Sydney in 2013 and has delivered coding and digital skills courses to more than 100,000 school children across 350 Australian schools. Code Camp provides holiday camps and after-school programs, delivered face-to-face or online. Code Camp engages ~400 teaching staff each quarter to support the delivery of its activities.

ENDS

Authorised for release to the ASX by Greg Fordred, CFO & Company Secretary.

1 Part of the shares will be issued on completion on 1 October 2021 and the balance subject to Shareholder approval at the forthcoming Annual General Meeting, in accordance with ASX Listing Rules

Cluey Ltd ABN: 65 644 675 909 Suite 2, Level 2, 117 Clarence Street Sydney NSW 2000

For enquiries please contact:

Investors

Investors
Mark Rohald	Melanie Singh
Chief Executive Officer	Investor Relations
Investor.relations@clueylearning.com	melanie@nwrcommunications.com.au

ABOUT CLUEY

Cluey is an innovative, ASX-listed Edtech company that combines education, technology and data to deliver quality education outcomes and an enhanced experience for students. Cluey has a highly experienced management team and Board with a track record of building successful education businesses and is supported by an Independent Advisory Board comprising four eminent independent education sector thought leaders.

Cluey key facts:

• Cluey provides academic support for students in years 2-12 in Mathematics and English and years 11-12 in Chemistry, as well as test preparation for NAPLAN and Literacy and Numeracy Test for Initial Teacher Education

• Through regular live online tutoring sessions, Cluey’s learning model is underpinned by personalised and tailored programs, content mapped to the national and state curricula, targeted tutor feedback and comprehensive reporting to students and parents

• Cluey’s platform captures > 100,000 data points in every learning session to deliver valuable data-driven insights in teaching and learning using proprietary analytics

• Cluey is headquartered in Sydney, Australia and has relocating to new offices at Suite 2, Level 2, 117 Clarence Street, Sydney. At the end of June 2021, Cluey had 118.4 full-time equivalent staff and 1,114 qualified tutors.

Cluey has been recognised in the prestigious HolonIQ inaugural list of most innovative Edtech companies in Australia. Cluey was also the winner of the 2021 Technology Scale-up Edtech of the Year Award.

Cluey Ltd