HUMM GROUP LIMITED — Board/Management Information 2021

Dec 19, 2021

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20 December 2021

Humm Group Limited announces change of Chair and receipt of proposals

Humm Group Limited (ASX: HUM) today announces that Andrew Abercrombie has stepped down as Chair of the company, with Christine Christian AO being appointed as independent Chair.

The company also advises that it has received approaches from third parties to acquire all or part of Humm Group. The company intends to engage in relation to these proposals, to determine whether they are capable of becoming definitive offers that are in the best interests of the company and its shareholders. There is no assurance that any transaction will occur.

The Board considers that the business is performing in line with expectations and that it has significant potential, both in Australia and overseas. The group remains strongly profitable and has no corporate debt. However, the Board considers that the Company’s shares are undervalued by recent trading prices on the ASX and the Board is keen to maximise value for all shareholders.

Independent Chair, Christine Christian said:

“On behalf of my fellow directors I thank Andrew for his service and his counsel as Chairman of the Group. Andrew was a founding shareholder of the original FlexiRent business some 20 years ago now and the Board continues to benefit from his insights and corporate knowledge. I look forward to working with my fellow directors to assess the proposals put before us and importantly, to support the management team as they implement the company’s strategy to grow the business profitably.”

humm group shareholders do not need to take any action in response to this announcement.

The Company has appointed Flagstaff Partners as financial adviser and Minter Ellison as legal adviser.

-ENDS-

Authorised for release by the humm group Board of Directors.

Contact

Media Contact

Adrian Fisk – Chief Financial Officer Lauren Thompson – Domestique Consulting +61 425 220 814 +61 438 954 729

humm group limited ACN 122 574 583 Level 1, 121 Harrington St, The Rocks, NSW 2000 Tel.+61-2-8905-2000

ABOUT HUMM GROUP

humm group is revolutionising the way people pay. humm group has developed some of Australia and New Zealand’s most exciting and accessible consumer finance products including humm , bundll , humm 90 and humm pro. humm group continues to design products around the core needs of financially savvy consumers spanning millennial spenders through to young families and SMEs. humm group facilitates purchases for over 2.7 million customers and operates in Australia, New Zealand, Ireland and the United Kingdom.

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