EROAD Limited — Share Issue/Capital Change 2021

Nov 30, 2021

Capital Change Notice

Updated as at 17 October 2019

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Section 1: Issuer information
Name of issuer		EROAD Limited
NZX ticker code		ERD
Class of financial product		Fully paid ordinary shares
ISIN (If unknown, check on NZX website)		NZERDE0001S5
Currency		NZD
Section 2: Capital change details
Number issued/acquired/redeemed		13,317,000
Nominal value (if any)		Not applicable
Issue/acquisition/redemption price per security		NZ$6.00
Nature of the payment (for example, cash or otherconsideration)		In partial satisfaction of theconsideration payable byEROAD Financial ServicesLimited (a wholly ownedsubsidiary of EROAD Limited)to the vendors of CoretexLimited
Amount paid up (if not in full)		Not applicable
Percentage of total class of Financial Productsissued/acquired/redeemed/ (calculated on the number ofFinancial Products of the Class, excluding any Treasury Stock,in existence)		13.726%
For an issue of Convertible Financial Products or Options, theprincipal terms of Conversion (for example the Conversionprice and Conversion date and the ranking of the FinancialProduct in relation to other Classes of Financial Product) or theOption (for example, the exercise price and exercise date)		Not applicable
Reason for issue/acquisition/redemption and specific authorityfor issue/acquisition/redemption/ (the reason for change mustbe identified here)		Issue of ordinary shares inpartial satisfaction of theconsideration payable byEROAD Financial ServicesLimited (a wholly ownedsubsidiary of EROAD Limited)to the vendors of CoretexLimited for the acquisition of100% of the shares in CoretexLimited.
Total number of Financial Products of the Class after theissue/acquisition/redemption/Conversion (excluding TreasuryStock) and the total number of Financial Products of the Classheld as Treasury Stock after the issue/acquisition/redemption.		110,338,787
In the case of an acquisition of shares, whether those sharesare to be held as treasury stock		Not applicable

Specific authority for the issue, acquisition, or redemption,		The share purchase plan is	The share purchase plan is
including a reference to the rule pursuant to which the issue,		made pursuant to NZX Listing
acquisition, or redemption is made		Rule 4.1.1 and has received
		approval by shareholderresolution dated 30 July 2021.
Terms or details of the issue, acquisition, or redemption (for		Issue of ordinary shares which
example: restrictions, escrow arrangements)		rank equally with all other fully
		paid ordinary shares inEROAD Limited.
		The ordinary shares will be
		subject to escrow
		arrangements as announced
		on	14 July 2021.
Date of issue/acquisition/redemption		30	November 2021
Section 3: Authority for this announcement and contact	person
Name of person authorised to make this announcement		Mark Heine
Contact person for this announcement		Mark Heine
Contact phone number		+64 27 973 2106
Contact email address		mark.heine@eroad.com
Date of release through MAP		1 December 2021