IDENTITII LIMITED — Capital/Financing Update 2020

Feb 23, 2020

Proposed issue of securities

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Announcement Summary

Entity name

IDENTITII LIMITED

Announcement Type

New announcement

Date of this announcement

Monday February 24, 2020

The Proposed issue is:

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A placement or other type of issue

Total number of +securities proposed to be issued for a placement or other type of issue

Maximum Number of ASX +Security Code +Security Description +securities to be issued ID8 ORDINARY FULLY PAID 13,629,698

Proposed +issue date

Friday March 6, 2020

Refer to next page for full details of the announcement

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Proposed issue of securities

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Part 1 - Entity and announcement details

1.1 Name of +Entity

IDENTITII LIMITED

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

1.2 Registered Number Type

ABN

Registration Number

83603107044

1.3 ASX issuer code

ID8

1.4 The announcement is

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New announcement

1.5 Date of this announcement

Monday February 24, 2020

1.6 The Proposed issue is:

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A placement or other type of issue

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Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

7A.1 - Are any of the following approvals required for the placement or other type of issue? +Security holder approval Court approval Lodgement of court order with +ASIC ACCC approval FIRB approval Another approval/condition external to the entity

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No

Part 7B - Issue details

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? Existing class

Will the proposed issue of this +security include an offer of attaching +securities? No

Details of +securities proposed to be issued

ASX +Security Code and Description

ID8 : ORDINARY FULLY PAID

Maximum Number of +securities proposed to be issued

13,629,698

Purpose of the issue

To raise funds for use in the manner as set out in the Prospectus.

Offer price details for retail security holders

In what currency is the cash What is the issue price per consideration being paid? +security? AUD - Australian Dollar AUD 0.24000

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

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Oversubscription & Scale back details

May a scale back be applied to this event?

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Yes

Provide the scale back details

The total number of shares that are to be issued is 13,629,698. The Company intends to process Applications received on a ¿first-in, first-served¿ basis.

Part 7C - Timetable

7C.1 Proposed +issue date

Friday March 6, 2020

Part 7D - Listing Rule requirements

7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? No

7D.1b Are any of the +securities proposed to be issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes

7D.1b ( i ) How many +securities are proposed to be issued without security holder approval using the entity's 15% placement capacity under listing rule 7.1?

8,177,819

7D.1c Are any of the +securities proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? Yes

7D.1c ( i ) How many +securities are proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A?

5,451,879

7D.1c ( ii ) Please explain why the entity has chosen to do a placement rather than a +pro rata issue or an offer under a +security purchase plan in which existing ordinary +security holders would have been eligible to participate

The Company considered the level of support from existing shareholders may not be sufficient. It is undertaking an Offer utilising a transaction specific prospectus prepared in accordance with the requirements of section 713 of the Corporations Act 2001 (Cth). Existing shareholders may participate in the Offer.

7D.2 Is a party referred to in listing rule 10.11.1 participating in the proposed issue? No

7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? No

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7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? No

Part 7E - Fees and expenses

7E.1 Will there be a lead manager or broker to the proposed issue? Yes

7E.1a Who is the lead manager/broker?

Peloton Capital Pty Ltd

7E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?

The Company has agreed to pay the Peloton Capital Pty Lyd an engagement fee of $15,000 per month (exclusive of GST and disbursements) for the period commencing on the date of the Engagement Letter until completion of the Offer and a capital raising fee (Capital Raising Fee) of 6% of the total amount raised under the Offer (exclusive of GST and disbursements.

7E.2 Is the proposed issue to be underwritten?

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No

7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue

K&L Gates has acted as Australian legal advisers to the Company in relation to the Prospectus and the Offer. In aggregate, the Company has paid or agreed to pay $50,000 (exclusive of GST and disbursements) for these services to the date of the Prospectus. Further amounts may be paid to K&L Gates in accordance with their usual time based charge out rates.

Part 7F - Further Information

7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? No

7F.2 Any other information the entity wishes to provide about the proposed issue

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