IODM LIMITED — Capital/Financing Update 2020

Dec 30, 2020

31 December 2020

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ASX Announcement

Equity Raising

IODM Limited (“IOD”, “IODM”, the “Company) is pleased to announce that it has raised $1,750,000 by way of an issuance of 11,666,667 fully paid ordinary shares at an issue price of 15 cents to an UK investor.

IODM’s global reputation as a leading accounts receivable solution has grown significantly over the last twelve months through proprietary sales and its Western Union relationship. This has resulted in the Company engaging with large enterprise clients across Asia Pacific and Europe, while building its investor brand with leading global investment funds.

The funds raised will be utilised primarily for commercial expansion globally. Expansion of the sales and business development teams will broaden our penetration though strategic partnerships, across key industries and relevant jurisdictions. In addition, the funds raised accelerates client onboarding which brings forward implementation opportunities, facilitates implementation on those companies that were not able to implement through the last quarter of 2020 calendar year and monetises the current record pipeline. IODM’s pipeline has grown considerably due to an increase in new client introductions underpinned by the current economic environment, requirements for remote access and the efficiency of the recently launched IODM Connect.

The placement is made within IODM’s existing placement capacity under ASX Listing Rule [7.1/7.1A]. New shares issued will rank equally with existing IODM ordinary shares and are expected to settle on 6 January 2021 and commence trading on the following business day.

Mark Reilly, IODM Chief Executive Officer, commented, “IODM Connect has a proven efficacy in accounts receivable automation for large enterprise clients reflected in our record pipeline. This investment enables us to accelerate our commercialisation objectives, while broadening our institutional shareholder base with an investor highly aligned with our strategy. We are very excited about what 2021 has to offer for shareholders and the Company.”

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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

Announcement authorised by IODM’s Board of Directors