COG FINANCIAL SERVICES LIMITED — Capital/Financing Update 2021

Oct 14, 2021

Proposed issue of securities

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Update Summary

Entity name

COG FINANCIAL SERVICES LIMITED

Announcement Type

Update to previous announcement

Date of this announcement

15/10/2021

Reason for update to a previous announcement

1. Correction to Split in Placement Shares between Non Related Parties (separate appendix 3B) and Related Parties (this appendix 3B)

2. Update proposed issue date

Refer to next page for full details of the announcement

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Proposed issue of securities

Part 1 - Entity and announcement details

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1.1 Name of +Entity

COG FINANCIAL SERVICES LIMITED

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).

1.2 Registered Number Type Registration Number ABN 58100854788

1.3 ASX issuer code

COG

1.4 The announcement is

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Update/amendment to previous announcement

1.4a Reason for update to a previous announcement

1. Correction to Split in Placement Shares between Non Related Parties (separate appendix 3B) and Related Parties (this appendix 3B)

2. Update proposed issue date

1.4b Date of previous announcement to this update

15/10/2021

1.5 Date of this announcement

15/10/2021

1.6 The Proposed issue is:

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A placement or other type of issue

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Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

7A.1 Do any external approvals need to be obtained or other conditions satisfied before the placement or other type of issue can proceed on an unconditional basis? Yes

7A.1a Conditions Approval/Condition Date for determination Is the date estimated or ** Approval actual? received/condition met? +Security holder approval 29/11/2021 Actual Comments Approval by shareholders under Listing Rule 10.11

Part 7B - Issue details

Is the proposed security a 'New Will the proposed issue of this class' (+securities in a class that is +security include an offer of not yet quoted or recorded by ASX) attaching +securities? or an 'Existing class' (additional No securities in a class that is already quoted or recorded by ASX)? Existing class

Details of +securities proposed to be issued

ASX +security code and description

COG : ORDINARY FULLY PAID

Number of +securities proposed to be issued

2,939,821

Reason for the update of 'Number of +securities proposed to be issued'

Correction to Split in Placement Shares between Non Related Parties (separate appendix 3B) and Related Parties (this appendix 3B)

Offer price details

Are the +securities proposed to be issued being issued for a cash

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consideration? Yes In what currency is the cash What is the issue price per consideration being paid? +security? AUD - Australian Dollar AUD 1.35000

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Part 7C - Timetable 7C.1 Proposed +issue date 1/12/2021

Part 7D - Listing Rule requirements

7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? Yes

7D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1

29/11/2021

7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? Yes

7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? No

7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? No

Part 7E - Fees and expenses

7E.1 Will there be a lead manager or broker to the proposed issue? Yes

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7E.1a Who is the lead manager/broker?

Ord Minnett Limited acted as Sole Lead Manager and Petra Capital acted as Co-Manager to the Placement.

7E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker? 4.5% on average (+ GST if applicable) of funds raised. 7E.2 Is the proposed issue to be underwritten? No

7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue

Part 7F - Further Information

7F.01 The purpose(s) for which the entity is issuing the securities

Fund an additional 24% interest in Westlawn Finance Limited and remaining 30% of Platform Consolidated Group Pty Limited, plus provide working capital, balance sheet flexibility and to pay offer costs.

7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? No

7F.2 Any other information the entity wishes to provide about the proposed issue

7F.3 Any on-sale of the +securities proposed to be issued within 12 months of their date of issue will comply with the secondary sale provisions in sections 707(3) and 1012C(6) of the Corporations Act by virtue of: The publication of a cleansing notice under section 708A(5), 708AA(2)(f), 1012DA(5) or 1012DAA(2)(f)

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