FMR RESOURCES LIMITED — Capital/Financing Update 2021

Jun 30, 2021

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ASX RELEASE

1 July 2021

Cleansing notice under section 708AA(2)(f) of the Corporations Act

This notice is provided by Applyflow Limited ACN 107 371 497 ( Company ) in connection with the Company’s proposal to undertake a fully underwritten, non-renounceable pro rata entitlement offer ( Entitlement Offer ) of new fully paid ordinary shares in the Company ( New Shares ) to existing shareholders with a registered address in Australia or New Zealand ( Eligible Shareholders ).

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 New 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:

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

   • b. section 674 of the Corporations Act;

3. 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

4. the potential effect the Entitlement Offer will have on the control of the Company, and the consequences of the effect, will depend on a number of factors, including investor demand. However, given the structure of the Entitlement Offer, the effect the Entitlement Offer will have on each shareholder’s percentage interest in the total issued capital is as follows:

   • a. if all Eligible Shareholders take up their entitlement in full under the Entitlement Offer, the Entitlement Offer will have no effect on the control of the Company;

   • b. the proportional interests in the Company of those Eligible Shareholders who do not take up their entitlement under the Entitlement Offer will be diluted by those other Eligible Shareholders who take up some, all or more than their entitlement;

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

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Applyflow Ltd. ABN 29 107 371 497

Level 4 82 Elizabeth Street Sydney NSW 2000

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• d. as the Entitlement Offer is fully underwritten by Shaw and Partners Limited ( Underwriter ), if none of the New Shares are taken up by Eligible Shareholders, then the Underwriter will be required to subscribe for all of the New Shares offered, subject to any sub-underwriting arrangements it has entered into. The Company understands that the Underwriter has entered into arrangements to sub-underwrite the Entitlement Offer and that none of the sub-underwriters is a substantial shareholder of the Company. However if the sub-underwriters are required to acquire the maximum number of New Shares under the sub-underwriting arrangements, they would in aggregate increase their voting power percentage to 38.5%, though the Company understands that none of the sub-underwriters are related or have a relevant interest in each other’s security holdings. The maximum voting power percentage which any single sub-underwriter may obtain in relation to the Entitlement Offer if that sub-underwriter is required to subscribe up to the maximum number of New Shares under their relevant sub-underwriting arrangement is 10.2%.

Yours faithfully

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David Franks

Company Secretary Applyflow Limited

This announcement was approved for release to ASX by the Board of Directors.

Contact

Steve Butler John Winters CEO Non-Executive Director steve@applyflow.com John@applyflow.com

About Applyflow

Applyflow is on a mission to make the recruitment experience better for everyone by giving recruiters an easy to use yet powerful tech solution to manage their entire business flow. A fresh take on what the recruitment process should be and the tools your team needs to make it a reality.

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Applyflow Ltd. ABN 29 107 371 497

Level 4 82 Elizabeth Street Sydney NSW 2000