HUB24 LIMITED — Capital/Financing Update 2020

Oct 28, 2020

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ASX Release: 29 October 2020

HUB24 successfully completes $50m placement

HUB24 (ASX:HUB) is pleased to announce that it has successfully completed a $50 million fully underwritten placement ( Placement ) of 2.5 million new fully paid ordinary shares in HUB24 ( New Shares ) to institutional and sophisticated investors at a price of $20 per New Share ( Placement Price ).

The Placement attracted strong demand from existing HUB24 securityholders as well as new investors. As a result, 2.5 million New Shares will be issued.

The proceeds from the Placement will be used to partially or fully fund the following:

• the proposed acquisition of all the shares in Xplore Wealth Limited ( Xplore ) by way of a scheme of arrangement between Xplore and its shareholders

• the proposed acquisition of the portfolio administration and reporting services ( PARS ) from Ord Minnett Limited by way of an asset sale

• the proposed investment of a circa 40% interest in Easton Investments Limited ( Easton ).

HUB24 shares will resume normal trading on the ASX from market open today, Thursday, 29 October 2020.

The New Shares will rank equally in all respects with HUB24's existing fully paid ordinary shares including in respect of future dividends. The New Shares are expected to settle on Wednesday, 4 November 2020, and be issued and commence trading on the ASX on a normal settlement basis on Thursday, 5 November 2020.

Share Purchase Plan

Following completion of the Placement, HUB24 will be offering eligible shareholders the opportunity to participate in a non-underwritten SPP by applying for up to $30,000 worth of new fully paid HUB24 ordinary shares ( SPP Shares ), free of any brokerage, commission or transaction costs. HUB24 is expecting the amount to be raised under the SSP to be $10 million.

You will be an “eligible shareholder” if you were a registered HUB24 shareholder as at 7pm (Sydney time) on 27 October 2020, have a registered address in Australia or New Zealand, do not hold HUB24 shares on behalf of a person who resides outside Australia or New Zealand and are not in the United States or acting for the account or benefit of any person in the United States.

The issue price of the SPP Shares will be the Placement Price, being $20 per share.

The SPP will be set out in the SPP Offer Booklet which is anticipated to be released to the ASX and dispatched to eligible shareholders on or around 5 November 2020.

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The indicative timetable for the SPP is set out below:

Event	Time / Date
Record date for SPP	7.00pm (Sydney time), Tuesday, 26 October 2020
SPP opens and SPP booklet is dispatched	Thursday, 5 November 2020
SPP closes	5.00pm (Sydney time), Thursday,19 November 2020
SPP allotment date	Monday, 30 November 2020
Normal trading of New Shares issued under the SPP	Tuesday, 1 December 2020
Dispatch of holding statements	Wednesday, 2 December 2020

The above timetable is indicative only and subject to change. HUB24 reserves the right to alter the above dates in its full discretion and without prior notice, subject to the ASX Listing Rules and the Corporations Act. All times above are in Sydney time.

For Media Inquiries:

James Strong, Citadel-MAGNUS +61 (0)448 881 174

Shareholder enquiries

If you have any questions in relation to the Equity Raising, please contact the Information Line on 1300 554 474 (within Australia) or +61 1300 554 474 (outside Australia) between 8.30am and 7.30pm (AEDT) on Monday to Friday. For other questions you should consult your broker, solicitor, accountant, financial adviser, or other professional adviser.

About the HUB24 Group

HUB24 Limited is a company listed on the Australian Securities Exchange. The group consists of the award-winning HUB24 platform and Technology Solutions business.

The HUB24 platform which offers a comprehensive range of investment options, including the market-leading managed portfolio solution, and enhanced transaction and reporting functionality. As one of the fastest growing platforms in the market, the platform is recognised for providing choice and innovative product solutions that create value for advisers and their clients.

HUB24’s Technology Solutions business focusses on leveraging data and technology to provide solutions to common challenges for licensees and advisers, to enable the delivery of professional advice to more Australians.

This release is not financial product advice. Past performance is not indicative of future performance and any forward- looking statements in this release are not representations or guarantees as to future performance.

This announcement was authorised for release to the market by the Managing Director of HUB24 Limited.

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For further information, please visit www.HUB24.com.au

Ends

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