FRONTIER DIGITAL VENTURES LIMITED — Capital/Financing Update 2020

Nov 2, 2020

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ASX Code: FDV 3 November 2020

NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES

Successful completion of Retail Entitlement Offer

• FDV has successfully raised a further A$6.5 million under the Retail Entitlement Offer at $1.25 per New Share

• Strong support shown from eligible retail shareholders, including under the oversubscription facility

• Completion of the Retail Entitlement Offer takes the total gross proceeds raised under the oversubscribed institutional placement and Entitlement Offer to A$99.1 million

Frontier Digital Ventures Limited (“ FDV ”, ASX: FDV or the “ Company ”) is pleased to announce the successful completion of the retail component of its non-underwritten 1 for 9 accelerated nonrenounceable entitlement offer ( Entitlement Offer ) of new fully paid ordinary shares ( New Shares ) at the offer price of A$1.25 per New Share ( Offer Price ) as announced on Thursday, 8 October 2020.

The retail component of the Entitlement Offer ( Retail Entitlement Offer ) closed on Thursday, 29 October 2020, and raised gross proceeds of A$6,492,301 (before transaction costs), with 5,193,841 fully paid ordinary shares to be issued. The Retail Entitlement Offer was well supported, with A$3,632,650 received from eligible retail shareholders for their entitlements, implying a take-up rate of 49%. FDV also received, under the oversubscription facility, an additional A$2,859,651.

Completion of the Retail Entitlement Offer takes the total gross proceeds raised under the oversubscribed institutional placement and Entitlement Offer to A$99,114,286.

New Shares to be issued under the Retail Entitlement Offer are expected to be allotted on Thursday, 5 November 2020 and commence trading on the ASX on Friday, 6 November 2020.

FDV accepts no responsibility and disclaims all liability (to the maximum extent permitted by law) to persons who trade New Shares they believe will be issued to them before they receive their holding statements, whether on the basis of confirmation of the allocation provided by FDV, Computershare Investor Services Pty Limited or otherwise, or who otherwise trade or purport to trade New Shares in error which they do not hold or are not entitled to.

• ENDS -

The release of this announcement was authorised by the Board of Directors of Frontier Digital Ventures Limited.

Frontier Digital Ventures Ltd 39-8 The Boulevard, Mid Valley City, Lingkaran Syed Putra 59200 Kuala Lumpur, Malaysia 1 Tel: +60 3 2201 0790 www.frontierdv.com

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For more information, please contact:

Company Investors Shaun Di Gregorio Timothy Toner Founder and CEO Vesparum Capital Phone: +60 17 207 6221 Phone: +61 3 8582 4800 Email: shaundig@frontierdv.com Email: frontierdv@vesparum.com

About FDV

FDV is a leading operator of online classifieds businesses in underdeveloped, emerging countries or regions. With a track record of building and supporting market leading online businesses, FDV’s management are experts in the online classifieds space with a particular focus on property and automotive verticals and general classifieds websites. FDV’s portfolio currently consists of 15 market leading companies, operating businesses across 20 markets. With the extensive support offered to the local operating companies, coupled with their own energy and work ethic, the FDV management team are bringing outstanding companies to their full potential.

Important Notice and Disclaimer

This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction in which such an offer or solicitation would be illegal. Neither the Entitlements nor the New Shares have been, or will be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or the securities laws of any state or other jurisdiction of the United States. Accordingly, the New Shares may not be offered or sold, directly or indirectly, to persons in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and any other applicable securities law of any state or other jurisdiction of the United States.

This announcement may not be released or distributed in the United States.

Frontier Digital Ventures Ltd 39-8 The Boulevard, Mid Valley City, Lingkaran Syed Putra 59200 Kuala Lumpur, Malaysia 2 Tel: +60 3 2201 0790 www.frontierdv.com