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EROAD Limited Capital/Financing Update 2020

Aug 20, 2020

66188_rns_2020-08-21_7fa27e64-965d-4437-9241-c3b3dccfbb62.pdf

Capital/Financing Update

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EROAD Applies for ASX Listing as a Foreign Exempt Listing

21 August 2020

Transport technology business EROAD has lodged an application with the Australian Stock Exchange (ASX) to list as a Foreign Exempt Listing. The application is currently under review by ASX and, assuming ASX accepts the application, EROAD intends to list in September 2020. EROAD intends to retain its New Zealand Stock Exchange (NZX) listing.

In October 2019, EROAD announced that the Board was considering an ASX Foreign Exempt Listing, in addition to its NZX listing, to facilitate greater access to capital, and provide alignment with the company’s business operations and investor base. The Board has now decided to pursue the opportunity to list on the ASX.

“While it is EROAD’s intention to remain a New Zealand domiciled-business, committed to our New Zealand investor base, the Board believes that listing on the ASX is a natural progression for the company and a way of accessing a broader pool of institutional and retail investors who wish to share in EROAD’s success.” EROAD Chairman Graham Stuart says. “The Board is confident and excited about the company’s future prospects and regards an ASX listing as a further means to facilitate greater access to capital to fund future growth opportunities.”

ENDS

For further information please contact:

Alex Ball Chief Financial Officer ph: +64 29 772 5631 [email protected]