DATAWORKS GROUP LIMITED — Capital/Financing Update 2020

Jun 23, 2020

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24 June 2020

The Manager Company Announcements Australian Securities Exchange Level 5, 20 Bridge Street SYDNEY NSW 2000

By electronic lodgement

Dear Sir/Madam

IXUP Limited (ASX:IXU) Cleansing notice under section 708AA of the Corporations Act

This notice is provided by IXUP Limited ACN 612 182 368 ( Company ) in connection with the Company’s proposal to undertake a fully underwritten, non-renounceable, pro rata entitlement offer to existing shareholders of the Company ( Eligible Shareholders ) on the basis of 1 new fully paid ordinary share in the Company ( Share ) at an issue price of $0.01 per Share for every existing Share held as at 7.00 pm (AEST) on 29 June 2020 ( Record Date ) to raise $2,228,401 (before costs and subject to rounding) ( Entitlement Offer ).

Eligible Shareholders will only be those who are shareholders on the share register of the Company as of the Record Date with a registered address in Australia or New Zealand.

The Company gives this notice under section 708AA(2)(f) of the Corporations Act 2001 (Cth) ( Corporations Act ) as modified by ASIC Corporations (Non-Traditional Rights Issues) Instrument 2016/84 and states the following:

1. the Shares to be issued under the Entitlement Offer will be issued without disclosure to investors under Part 6D.2 of the Corporations Act;

2. as at the date of this notice, the Company has complied with:

3. a) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

4. b) section 674 of the Corporations Act;

5. 1. as at the date of this notice, there is no excluded information for the purposes of sections 708AA(8) and 708AA(9) of the Corporations Act; and

6. the potential effect the Entitlement Offer will have on the control of the Company, and the consequences of that effect, will depend on a number of factors, including investor demand. The potential effect on control is summarised below:

7. a) if all Eligible Shareholders take up their entitlements under the Entitlement Offer, then the Entitlement Offer will have no significant effect on the control of the Company;

8. b) if some Eligible Shareholders do not take up all of their entitlements under the Entitlement Offer, then the interests of those Eligible Shareholders in the Company will be diluted;

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• c) the proportional interests of shareholders of the Company who are not Eligible Shareholders will be diluted because such shareholders are not entitled to participate in the Entitlement Offer;

• d) Eligible Shareholders that apply for additional Shares under the shortfall facility (under which any shortfall between applications received and the number of Shares proposed to be issued under the Entitlement Offer may be applied for by those Eligible Shareholders who have accepted their entitlements in full) ( Shortfall Facility ) may increase their interests beyond their entitlement for shares in excess of an Eligible Shareholder’s entitlement which will be capped up to a maximum of $25,000. Applications under the Shortfall Facility may be subject to scale-back depending on the final number of additional Shares, if any, comprising the shortfall of the Entitlement Offer and the quantum applied for by each Eligible Shareholder; and

• e) the Entitlement Offer is fully underwritten by Cygnet Capital Pty Limited ( Underwriter ). Following completion of the Entitlement Offer, if there are significant shortfalls in the applications under the Entitlement Offer, the Underwriter may acquire a significant number of Shares under the Entitlement Offer and dilute other Eligible Shareholders who did not take up all or any of the entitlement, as follows:

• i. if the shortfall is 25% of the Entitlement Offer, the Underwriter may acquire up to 12.5% of the Shares in the Company;

• ii. if the shortfall is 50% of the Entitlement Offer, the Underwriter may acquire up to 25% of the Shares in the Company;

• iii. if the shortfall is 75% of the Entitlement Offer, the Underwriter may acquire up to 37.5% of the Shares in the Company; and

• iv. if the shortfall is 100% of the Entitlement Offer, the Underwriter may acquire up to 50% of the Shares in the Company.

For more information, please contact the undersigned on 02 8072 1400.

Yours faithfully

Andrew Whitten Company Secretary

-ENDS-

About IXUP

IXUP Limited (pronounced ‘eyes up’) is a listed technology company (ASX: IXU) specialising in collaborative analytics on encrypted data. Their privacy preserving platform enables sharing and analysis of data sets from multiple sources with 100% control, security and privacy, solving the problems of compliance, data loss and misuse. IXUP was listed in 2017. For more information visit www.ixup.com. IXUP’s registered address is Level 3, 5-7 Ross Street, Parramatta NSW 2150.