COSOL LIMITED — M&A Activity 2023

Sep 4, 2023

Amended Announcement COSOL completes acquisition of AssetOn Group

Brisbane, 5 September 2023 – COSOL Limited (COSOL, ASX: COS) (“COSOL”) advised the completion of the acquisition of AssetOn Group, comprising AssetOn Group Pty Ltd and OnPlan Technologies Pty Ltd on of the 4 September 2023.

The Company wishes to notify a typographical error in the announcement dated 4 September 2023. The total consideration is up to $29 million. The $22 million upfront payment comprised $18 million in cash and 4,805,985 fully paid ordinary shares, at an issue price of $0.83 per share. A further $7 million is payable in cash and/or COSOL shares by way of an earn-out consideration based on AssetOn Group’s audited FY24 EBITDA and annualised monthly recurring revenue.

Full details of the acquisition terms are set out in COSOL’s ASX announcement of 3 August 2023.

This announcement was authorised for release by the Board of COSOL Limited.

For more information, please contact:

Mr Ben Buckley E ir@cosol.global

About COSOL

COSOL is a global Asset Management technology-enabled solution provider that optimises operations in asset intensive industries such as natural resources, energy and water utilities, public infrastructure and defence.

COSOL continuously invests in its ecosystem of software and services to help large-scale asset owners get more from their networks and to capture quantifiable business improvements measured in sustainability, efficiencies and profitability.

Our mission is to help our customer achieve zero waste in their operations and supply chains using COSOL’s

creative leadership and passion for asset management innovation.

Since listing in January 2020, COSOL has delivered profitable growth, strong operating cashflows and successful strategic acquisitions.

5 September 2023

ASX Announcement