IVE GROUP LIMITED — Capital/Financing Update 2020

Oct 15, 2020

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ASX RELEASE – IVE GROUP LIMITED (ASX:IGL)

16 October, 2020

DIVESTMENT OF IVE TELEFUNDRAISING (Pareto Phone)

IVE Group Limited (ASX:IGL) (IVE) today announces it has signed a binding agreement to divest of its IVE Telefundraising business (Pareto Phone Pty Ltd ACN 115 781 827). The business will be acquired by an entity associated with Merchant Place Investments Pty Ltd , and subject to customary conditions, completion is due to take place on Friday October 30, 2020.

The purchase consideration is A$16.5 million payable in cash on completion, which represents a 5 times multiple of FY20 EBITDA. The proceeds of the sale will be used to further strengthen IVE’s balance sheet.

With annual revenues of circa A$14 million, IVE Telefundraising specialises in comprehensive outbound tele-marketing campaigns for the Australian not for profit sector, conducting over 1 million calls per year for its charity clients. Post completion, the business will revert back to the Pareto Phone brand and will continue operating as a standalone business with 150 staff based in Fortitude Valley, Qld.

This announcement has been approved by the IVE Group Board

Geoff Selig Executive Chairman

Contact:

Richard Nelson Investor Relations 0455 088 099 investors@ivegroup.com.au