IODM LIMITED — Board/Management Information 2021

Aug 22, 2021

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ASX Announcement

23 August 2021

Extension of CEO Contract

Key highlights

• IODM agrees extension of employment contract with CEO, Mark Reilly

IODM Limited (ASX:IOD, “IODM” or “the Company”), a cloud-based software solution that revolutionises business cash flow management is pleased to announce that it has entered in to an extension of contract with CEO, Mark Reilly.

Mark was appointed Managing Director of IODM on 15 September 2018 and subsequently CEO. The key terms of Mark’s new contract are detailed in the attached Appendix A.

IODM Chairman, Dr Paul Kasian said, “ The board and I are delighted to have secured a contract extension with Mark. He has outlined an ambitious growth agenda for the company particularly international growth, from which we have already seen significant revenue events out of the UK in the education sector. Mark and his team are extremely focussed on expanding our offering across the UK and North America, whilst at the same time growing our organic revenue in Australia.”

IODM CEO, Mark Reilly said , “I would like to thank the board for their continued support of me in my role as CEO. I look forward to executing on our growth plans and rapidly rolling out our offering in the education and health care sectors internationally, following the early success we have had in the UK, for the benefit of the company and all stakeholders.”

This announcement is authorised by IODM’s Board of Directors

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About IODM

IODM is a leading accounts receivable (AR) solution that utilises digital technology to optimise automation. IODM’s solution provides an end-to-end AR process that supports customers with invoicing, query management, payment reminders, escalation, analytics and more. IODM’s solution drives increased client productivity and timely payments while reducing costs and minimising human error. The solution is a customisable application that seamlessly integrates with any accounting ERP software package. IODM operates globally and is headquartered in Melbourne, Australia. To learn more, please visit www.iodmconnect.com

For more information, please contact:

General enquiries

Corporate Communications Tony Smith Tony.Smith@iodm.com.au

IODM Limited ABN 28 102 747 133 Level 23, 385 Bourke Street, Melbourne, VIC, 3000 www.iodm.com.au

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Appendix A: Key terms of CEO Contract

Commencement Date:

1 September 2021

Term:

No fixed term ongoing until terminated by either party in accordance with the terms of the contract.

Fixed Remuneration: Short-Term Incentives:

$275,000p.a. inclusive of superannuation

1. $140,000 as guided by KPI structure as determined by the board in July for the full year; and 2. As determined by the board at its discretion for actions not covered by the KPI structure but inclusive of the total amount.

Long- Term Incentives:

Participation in the Employment Share Scheme at the Board of Directors discretion.

Notice Period: Three months

IODM Limited ABN 28 102 747 133 Level 23, 385 Bourke Street, Melbourne, VIC, 3000 www.iodm.com.au