COSOL LIMITED — Share Issue/Capital Change 2021

Nov 23, 2021

ASX ANNOUNCEMENT

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Notice Under Section 708A

Brisbane, 24 November 2021 – COSOL Limited ( COSOL, ASX:COS ) (“ COSOL ”) advises, on 23 November 2021, COSOL issued 8,751,123 fully paid ordinary shares. 7,951,123 of these shares were issued to the vendors of Clarita Solutions Pty Ltd (“ Clarita ”) following the acquisition of Clarita (as announced on 22 November 2021) and 800,000 shares were issued to an employee following the exercise of unlisted options. The shares issued to the Clarita vendors have been placed in a holding lock until 23 November 2022.

The Shares are part of a class of securities quoted on the Australian Securities Exchange Limited (ASX).

The Company gives this notice pursuant to Section 708A(5)(e) of the Corporations Act 2001. The Shares were issued without disclosure to investors under Part 6D.2, in reliance on Section 708A(5) of the Corporations Act 2001. The Company, as at the date of this notice, has complied with:

• a) the provisions of Chapter 2M of the Corporations Act 2001; and

• b) Section 674 of the Corporations Act 2001.

There is no excluded information as at the date of this notice, for the purposes of Sections 708A(7) and (8) of the Corporations Act 2001.

For more information, please contact:

Mr Ben Buckley

T +61 409 405 550

E ben.buckley@cosol.global

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

About COSOL

COSOL Limited is a global provider of proprietary digital solutions to asset intensive industries. We drive quantifiable business improvements through the enhanced use of data and data analytics.

Our specialists have a valuable combination of industry experience and technology systems expertise to solve the most complex issues efficiently and pragmatically for our clients.

COSOL is the largest Hitachi ABB Ellipse enterprise software managed service provider in Asia Pacific and North America and, in addition, maintains relationships and capabilities with industry-recognised solution providers such as SAP, IFS, Microsoft, IBM Maximo and major system integrators such as IBM, Accenture, DXC, Deloitte and EY.

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 | www.cosol.global |

ASX Code: COS Page 1 I 2

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COSOL Limited was listed on the Australian Stock Exchange (ASX) in January 2020 and through its operating entities COSOL Asia Pacific and COSOL North America it has been an established leader in this sector for over 20 years. Its Global headquarters and COSOL Asia Pacific are located in Brisbane, Australia and COSOL North America is based in Denver, USA.

About Clarita

Clarita builds and optimises asset information ecosystems to drive asset performance improvement. We build maturity in systems and processes by enriching asset information with location context, integrating data across systems, and enabling mobile workers with field force automation.

We believe that continually improving asset performance is the result of an integrated asset information ecosystem. By leveraging the strengths of our team together with an extended network of partners, our approach is to connect businesses with the technical, operational and strategic services they need to realise their asset performance ambitions.

Clarita is Australia based, headquartered in Brisbane and is a Gold Level IBM Business Partner (Maximo®) and Silver members of the Esri Partner Network (GIS) and work closely with vendor partners such as RedEye, DBM Vircon, Interpro Solutions and Projetech.

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 | www.cosol.global |

ASX Code: COS Page 2 I 2