HARVEST TECHNOLOGY GROUP LTD — Capital/Financing Update 2023

Sep 28, 2023

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Announcement to ASX ASX Code: HTG

September 29, 2023

HTG ESTABLISHES R&D FUNDING FACILITY

HIGHLIGHTS:

• Radium Capital will advance $960,045 to Harvest as a prepayment on the Company’s expected Research & Development tax incentive rebate.

• The non-dilutive funding facility strengthens Harvest’s financial position as we expand and diversify our customer base and move towards the planned release of new scalable technology products in the coming months.

September 29, 2023: Harvest Technology Group Limited (ASX:HTG) ( Company, Harvest ) is pleased to advise that it has received a $960,045 advance from Radium Capital ( Radium ), providing early-access to funds expected to be received in relation to the Company’s Research and Development Tax Incentive (RDTI) rebate for the year ended June 30, 2023.

Radium is an established research and development (R&D) finance provider, offering strategic capital by way of early access to R&D refunds secured against the rebate from the Australian Tax Office.

Under the loan facility, Harvest has the ability to immediately access up to 80% of its estimated RDTI rebate. The advance was based on eligible RDTI expenditure that has been verified by an independent accounting firm approved by Radium. Interest on the loan facility accrues at the compounded rate of 1.33% per month, and repayment is timed to coincide with receipt of the Company’s R&D refund from the Australian Tax Office, expected by December 31, 2023.

The funding is in addition to the $2.255m capital recently raised from a placement to sophisticated investors and Share Purchase Plan, which was announced by the Company on July 11, 2023, and leaves the Company well-capitalised to continue activities to grow its revenue base and deliver on the release of three new scalable products leveraging its core Nodestream™ technology, namely:

• Hybridised version of Nodestream™ and RIS™ technologies;

• NSE™ Enterprise Server application; and,

• NSI™ embedded compute module board

- End -

This announcement was authorised for release by the Board of Directors.

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Ground Floor, 16 Ord Street West Perth WA 6005 P: +61 8 9482 0500

ABN: 77 149 970 445

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Announcement to ASX ASX Code: HTG

Corporate & media enquiries, please contact:

Email: investor@harvest-tech.com.au

Investor enquiries, please contact:

Mr. Jack Rosagro Company Secretary Tel: + 61 8 9482 0511 Email: investor@harvest-tech.com.au

Investor Hub

Join the Company’s investor hub to access the latest information: https://investorhub.harvest.technology/auth/signup

About Harvest Technology Group

Harvest Technology Group Limited (ASX: HTG) is a global leader in network optimised remote operations that deliver real-time remote control, communication, automation, and monitoring capabilities. Headquartered in Perth, Australia, the group of companies is revolutionising remote field services with ultra-low bandwidth Network Optimised Livestreaming solutions that enable customers to stay connected to operations and personnel anywhere in the world while utilising just a fraction of existing bandwidth resources.

To learn more please visit: https://harvest.technology/

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Forward Looking Statements

Statements contained in this release, particularly those regarding possible or assumed future performance, revenue, costs, dividends, production levels or rates, prices, or potential growth of Harvest Technology Group Limited, are, or may be, forward looking statements. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. Actual results and developments may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors.

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Ground Floor, 16 Ord Street West Perth WA 6005 P: +61 8 9482 0500

ABN: 77 149 970 445