HARVEST TECHNOLOGY GROUP LTD — Capital/Financing Update 2024

Aug 1, 2024

Announcement to ASX ASX Code: HTG

August 2, 2024

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FUNDING UPDATE – DIRECTOR LOANS

August, 2, 2024: Harvest Technology Group Limited (ASX:HTG) ( Company, Harvest, Group ) advises that Mr Ilario Faenza (Executive Director & CEO) and Mr Marcus Machin (Non-Executive Director) have agreed to provide the Company with short term, unsecured loans totalling $150,000 on commercial arms’ length terms. The loan from Mr Faenza will be provided personally, the loan from Mr Machin will be provided from Arab Capital Holdings Limited, of which Mr Machin is a director.

The loans will be drawn down immediately and the funds from the loan will be applied towards working capital purposes of the Company.

The material terms of the loan agreement are as follows:

• Loan amount: $100,000 (Faenza) and $50,000 (Machin)

• Interest rate: 15% per annum paid at the end of term

• Security: Nil

• The agreement does not include any right to convert the loan to Harvest shares

• Repayment terms :

  • a) The Borrower agrees that if the Shareholders provide Shareholder Approval, the Borrower will accept an application from the Lender to be issued Notes with a Face Value equal to the Outstanding Amount (rounded down to the nearest whole number). The Outstanding Amount is deemed to be repaid in full on the date of the issuance of such Notes (Note Date).

  • b) If the Shareholders do not provide Shareholder Approval at the next general meeting of the Company, the Borrower must repay the Outstanding Amount to the Lender on the next Business Day after such general meeting (Refusal Date).

  • c) The Borrower must repay the Outstanding Amount to the Lender on the earliest of:

    • (i) the Note Date (by way of issue of the Notes); (ii) the Refusal Date; and

    • (iii) 30 November 2024.

The company intends to seek shareholder approval at the 2024 Annual General Meeting of the company to approve the loans be converted to Convertible Notes on the same terms as other investors.

-ENDS-

This announcement was authorised for release by The Board of Harvest Technology Group Limited

Corporate & media enquiries, please contact:

Email: investor@harvest-tech.com.au

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7 Turner Avenue, Bentley, WA 6102

ABN: 77 149 970 445

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Announcement to ASX ASX Code: HTG

Investor enquiries, please contact:

Mr. Jack Rosagro Company Secretary Tel: + 61 8 6245 9439 Email: investor@harvest-tech.com.au

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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7 Turner Avenue, Bentley, WA 6102 ABN: 77 149 970 445