CLUEY LTD — Capital/Financing Update 2021

Sep 6, 2021

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ASX Announcement

7 September 2021

Grant of Awards under Cluey Omnibus Incentive Scheme

Cluey Ltd (ASX:CLU) ( Cluey ) provides the attached Appendix 3G in relation to the grant of Awards to certain eligible employees under the Cluey Omnibus Incentive Scheme. The Incentive Scheme was previously disclosed in section 6.5 of Cluey’s Prospectus dated 23 October 2020.

Key terms of the grants:

Type of Security	Unquoted options
Type of Award	Options to acquire a newly issued share in the Company
Number of Awards granted	170,000
Issue price / premium	$nil
Grant date	31 August 2021
Exercise price	$1.02
Vesting conditions	The Options will vest in increments of one-third on 1 July 2022, 1 July 2023 and 1 July 2024 (Vesting Date). Employees must remain as a permanent employee of the Cluey (or its subsidiary) on the respective Vesting Date.
Rights of Security holder	Unless and until the vesting conditions are satisfied, the Options being granted: - Are not transferrable - Do not confer any right to vote, entitlement to a dividend, right to a return of capital - Do not confer any right to participate in any new issues of securities
Expiry date	31 August 2026

ENDS

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

For enquiries please contact :

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

Cluey Ltd ABN: 65 644 675 909 L8 / 51 Pitt Street Sydney NSW 2000

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 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 is relocating to new offices at Suite 2, Level 2, 117 Clarence Street, Sydney in October 2021. 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 Ltd