HUMM GROUP LIMITED — Capital/Financing Update 2021

Sep 27, 2021

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

==> picture [21 x 22] intentionally omitted <==

Announcement Summary

Entity name

HUMM GROUP LIMITED

Date of this announcement

Tuesday September 28, 2021

The +securities the subject of this notification are:

+Securities issued under an +employee incentive scheme that are subject to a restriction on transfer and are not being quoted on ASX until the restriction ends

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
New class - code	Options expiring various dates ex $1.21	9,448,595	21/09/2021
to be confirmed

Refer to next page for full details of the announcement

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

1 / 7

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

==> picture [21 x 22] intentionally omitted <==

Part 1 - Entity and announcement details

1.1 Name of entity

HUMM GROUP LIMITED

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type

ABN

Registration number

75122574583

1.3 ASX issuer code

HUM

1.4 The announcement is

==> picture [8 x 8] intentionally omitted <==

New announcement

1.5 Date of this announcement

28/9/2021

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

2 / 7

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

==> picture [21 x 22] intentionally omitted <==

Part 2 - Issue details

2.1 The +securities the subject of this notification are:

+Securities issued under an +employee incentive scheme that are subject to a restriction on transfer and are not being quoted on ASX until the restriction ends

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

==> picture [8 x 8] intentionally omitted <==

does not have an existing ASX security code ("new class")

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

3 / 7

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

==> picture [21 x 22] intentionally omitted <==

Part 3C - number and type of +securities the subject of this notification (new class) where issue has not previously been notified to ASX in an Appendix 3B

New +securities issued under an +employee incentive scheme

ASX +security code +Security description New class - code to be confirmed Options expiring various dates ex $1.21 +Security type ISIN code Options

Date the +securities the subject of this notification were issued 21/9/2021

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Were any of the +securities issued to +key management personnel (KMP) or an +associate? Yes

Provide details of the KMP or +associates being issued +securities.

Name of KMP	Name of registered holder	Number of +securities
Rebecca James	Rebecca James	2,000,000
Christopher Lamers	Christopher Lamers	1,200,000
Adrian Fisk	Adrian Fisk	950,000

Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? Yes

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued.

Options Details

+Security currency AUD - Australian Dollar

Exercise price Expiry date AUD 1.21000000 21/9/2027

Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option

Other

Notification of Issue, Conversion or Payment up of Unquoted 4 / 7 E it S iti

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

==> picture [21 x 22] intentionally omitted <==

Description

HUM: Ordinary Fully Paid

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms

Each option is a right to acquire one fully paid ordinary share in hummgroup (ASX: HUM), subject to meeting performance and vesting conditions and payment of an exercise price of $1.21.

FY22 grant will vest around two months following the FY24 results announcement (three-year performance period) should Earnings Per Share (EPS) and Actual Share Price (ASP) hurdles be achieved. One third of the vested Options will be subject to a twelve-month deferral period and a tenure condition. Hurdles and vesting schedule can be adjusted based on Board discretion.

A three-year performance period for FY22 grant, being 1 July 2021 to 30 June 2024. Threshold vesting at 33% achievement of ASP and EPS hurdle, with straight-line vesting between 33% and 100%.

Any other information the entity wishes to provide about the +securities the subject of this notification

Issue details

Number of +securities

9,448,595

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

5 / 7

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

==> picture [21 x 22] intentionally omitted <==

Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of the entity will comprise:

(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +Securities (Total number of each +class of +securities quoted)

	Total number of
ASX +security code and description	+securities on issue
HUM : ORDINARY FULLY PAID	495,268,318

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

	Total number of
ASX +security code and description	+securities on issue
HUMAA : PERFORMANCE RIGHTS	1,161,961
HUMAC : OPTION EXPIRING VARIOUS DATES EX $1.38	8,220,490
New class - code to be confirmed : Options expiring various dates ex $1.21	9,448,595

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

6 / 7

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

==> picture [21 x 22] intentionally omitted <==

Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? No

5.2b Are any of the +securities being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes

5.2b.1 How many +securities are being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1?

9,448,595

5.2c Are any of the +securities being issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? No

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

7 / 7