COSOL LIMITED — M&A Activity 2020

Oct 14, 2020

ASX Announcement

COSOL Completes Acquisition of AddOns

• COSOL completes acquisition of Denver, Colorado USA based AddOns Inc – a managed services IT and professional services organisation with a portfolio of proprietary digital IP used to support over 50% of the North American installed base of ABB Ellipse Asset Management clients

• The acquisition is accretive to earnings and will contribute positively to COSOL’s FY21 result

• Strategic acquisition aligns with COSOL’s growth strategy for geographic expansion, and is complementary to COSOL’s strategy and capability in digital transformation utilising proprietary IP

Brisbane, 15 October 2020 – COSOL Limited ( COSOL , ASX:COS ) is pleased to announce that it has completed the acquisition of AddOns Inc ( AddOns ), a managed services IT, software and professional services business based in Denver, Colorado, USA.

The acquisition is in-line with the COSOL’s stated objective of moving to become a global player in the enterprise asset management services space. The combination of the two businesses provides a global platform for managed services, big data/data analytics, strategic advisory consulting, and technology solutions (ie developing proprietary digital platforms and software products), particularly in the enterprise asset management space.

The consideration for the acquisition comprises upfront consideration of US$1.5M in cash and 4,271,695 fully paid ordinary shares, with up to a further US$1.75M payable in cash and COSOL shares by way of earn-out consideration based on AddOns’ audited EBITDA for FY21 and FY22.

Please refer to COSOL’s ASX announcement dated 6 October 2020 for further information regarding the terms of the acquisition.

For more information, please contact: Mr Ben Buckley T +61 7 3129 3341 E ben.buckley@cosol.com.au

This announcement was authorised for release by Mr Ben Buckley, Managing Director of COSOL Limited.

COSOL Limited ABN 66 635 371 363 Level 3, 201 Leichhardt Street, Spring Hill QLD 4000 T +61 7 3129 3341 E info@cosol.com.au W cosol.com.au

ASX Code: COS

15 October 2020

ASX Announcement

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About AddOns

AddOns, Inc. is a leading provider of managed services, hosting, and application support optimised for asset-intensive industries. AddOns was formed in 1998 with a focus on technical solutions, consulting and software unique to assetintensive industries including construction, oil and gas, manufacturing, mining and electric power. AddOns comprises developers, technical hardware experts, programmers, and report specialists with a history of driving productivity, reducing downtime and enhancing reporting to improve the quality of business decision making. AddOns’ time-saving mobility and labor-reducing tools give clients and their employees the freedom to focus on moving their business forward.

About COSOL

COSOL is a global, digital services and transformation specialist company providing strategic advice and practical delivery to streamline enterprise asset management business processes and technology systems. Combined with our proprietary data migration and reporting solutions (BPConnect®, RPConnect®), COSOL offers industry specific expertise in the definition, analysis, design, implementation, optimisation and support of production and commercial systems within a tailored and flexible delivery framework. COSOL’s knowledge of systems and business processes coupled with the ability to interact from the shop floor to the boardroom enables streamlined sustainable business process transformations.

We have maintained a strong Ellipse practice since inception, providing both business improvement and tier II functional and technical support. Importantly, COSOL also maintains an SAP practice with a range of technical and functional SAP specialists. COSOL maintains networks and relationships with industry recognised solution providers and we sell our own integration, data migration and reporting solutions (BPConnect®, RPConnect®). COSOL has realised business benefits for our clients through the planning and deployment of these solutions.

COSOL differentiates itself through high quality asset intensive industry consultants for both Ellipse and SAP and the significant development of both the product RPConnect® and IP retention for enterprise resource planning data migration projects.

We have delivered data migration, cleansing and retention within multiple versions of Ellipse, in most cases under tight deadlines and in an environment with sensitivities relating to the M&A activity. We have an implicit understanding of both Ellipse and SAP data structures and environment. One of our differentiators is the ability to cross the SAP/Ellipse and industry knowledge bridge, reducing the risk and increasing the likelihood of success under tight timeframes.

15 October 2020

ASX Announcement

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