FIRSTWAVE CLOUD TECHNOLOGY LIMITED — Director's Dealing 2020

Aug 24, 2020

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity	FirstWave Cloud Technology Limited
ABN	35 144 733 595

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	John Edwin Grant
Date of last notice	16 June 2020

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	JHG Super Pty Ltd as trustee of the JGH Superannuation Fund (John is a director of the company and a beneficiary of the trust).
Date of change	17 August 2020
No. of securities held prior to change	JHG Super Pty Ltd as trustee of the JGH Superannuation Fund 3,995,400 ordinary shares 4,200,000 unlisted options.
Class	Service Rights
Number acquired	6,766,638 Service Rights. Each Service Right is a right to receive one (1) fully paid ordinary share in FCT, subject to the terms of the Company's Rights Plan and applicable vesting conditions on such Service Rights. For further details on the terms of the Service Rights and the Company's Rights Plan, please refer to the

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

		Notice of Meeting dated 29 June 2020 in respect of the Extraordinary General Meeting held on 29 July 2020.
Number disposed		N/A
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation		The Service Rights, which are being issued pursuant to the Company's Rights Plan, are issued in consideration for the director sacrificing total fixed remuneration of$304,499.
No. of securities held after change		JHG Super Pty Ltd as trustee of the JGH Superannuation Fund 6,766,638 Service Rights 3,995,400 ordinary shares 4,200,000 unlisted options as follows: • 1,400,000 exercisable at $0.304 vesting on 1 July 2020; • 1,400,000 exercisable at $0.425 vesting on 1 July 2021; and • 1,400,000 exercisable at $0.547 vesting on 1 July 2022. All unlisted options expire3 years after vesting.
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy- back		Issue of Service Rights under the Company's Rights Plan.

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract

Letter of Offer dated 17 August 2020 for an offer of Service Rights under the Company's Rights Plan.

Nature of interest

In addition to the Service Rights referred to in this Appendix 3Y, the director (or his nominee) is also entitled to be issued up to a further 1,333,333 Service Rights following announcement of the Company's FY22 half year results. The number of additional Services Rights that the Director will be entitled to receive will be the whole number determined by dividing the amount of fixed remuneration sacrificed by the director during the period from 1 July 2021 to 31 December 2021 (being $60,000) by the volume weighted average price over the 5 trading days following the announcement of the Company's FY22 half-year results and up to a maximum of 1,333,333Service Rights.

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Name of registered holder (if issued securities)		N/A
Date of change		17 August 2020
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed		N/A
Interest acquired		The contractual right to receive up to 1,333,333 Service Rights
Interest disposed		N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation		The additional Service Rights, if issued, will be issued pursuant to the Company's Rights Plan and in consideration for the director sacrificing total fixed remuneration of$60,000.
Interest after change		JHG Super Pty Ltd as trustee of the JGH Superannuation Fund The contractual right to receive up to 1,333,333 Service Rights

Part 3 –[+] Closed period

Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	N/A
If prior written clearance was provided, on what date was this provided?	N/A

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3