IVE GROUP LIMITED — Capital/Financing Update 2022

Sep 19, 2022

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ASX RELEASE - - IVE GROUP LIMITED (ASX:IGL)

20 September 2022

SUCCESSFUL COMPLETION OF $18M INSTITUTIONAL PLACEMENT

IVE Group Ltd (IVE) is pleased to announce the successful completion of an institutional placement (‘‘Placement’’) to raise $18m, having generated significant interest, and received strong support, from existing investors as well as new institutional investors. Approximately 8.0m new fully paid ordinary shares (‘‘New Shares’’) are expected to be issued under the Placement at $2.25 per New Share (‘‘Placement Price’’), representing a 5.5% discount to the last close price on Friday, 16 September 2022.

Concurrently with the Placement, the Selig Family successfully completed a non-underwritten sell down of 4.5m ordinary IVE shares at the Placement Price.

IVE Executive Chairman, Geoff Selig, said: ‘‘We are delighted with the strong support we received for the placement from our existing and new shareholders. We thank existing shareholders for their continued support and welcome our new investors. We are pleased that investors have recognised the strategic value of the Ovato transaction and will now mobilise to integrate the acquired Ovato assets into IVE’s existing operations to optimise operating leverage and deliver synergies.

The capital raising will preserve significant balance sheet capacity for IVE to pursue previously announced growth initiatives including further organic initiatives (e.g. Lasoo e- Commerce market place), support further opportunistic ‘bolt-on’ and/or strategic acquisitions (e.g. in the adjacent packaging sector), and importantly will also strengthen and deepen IVE’s institutional shareholder base, increasing liquidity in the market for IVE shares.’’

Settlement of the New Shares and the Selldown Shares is expected to occur on Tuesday 27 September 2022, with allotment and normal trading on Wednesday 28 September 2022. The New Shares will rank equally with existing IVE shares. The New Shares are within IVE’s existing placement capacity under ASX Listing Rule 7.1 and accordingly shareholder approval is not required.

IVE shares are expected to resume normal trading on the ASX from market open today, 20 September 2022.

Share purchase plan

IVE will also offer existing eligible shareholders the opportunity to participate in a nonunderwritten SPP, to raise approximately $2m.

Under the SPP, eligible IVE shareholders, being shareholders with a registered address in Australia or New Zealand on IVE’s register as at 7.00pm (Sydney time) on Friday, 16 September

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(and who are not in the United States or acting for the account or benefit of any person in the United States), will have the opportunity to apply for up to A$30,000 of new shares without incurring brokerage or transaction costs.

The issue price of the new shares under the SPP will be the Placement Price.

New Shares issued under the SPP will rank equally with existing IVE shares from the date of issue.

IVE reserves the right to increase the size of the SPP or scale back applications under the SPP at its absolute discretion.

Full details of the SPP will be set out in the SPP offer booklet, which is expected to be released to the ASX and dispatched to eligible shareholders on Thursday 29 September 2022.

Key dates

Key dates
Event	Time and date (AEST)
Record date for the SPP	7pm AEST, Friday, 16 September 2022
Settlement of New Shares to be issued under the Placement	Tuesday, 27 September 2022
Allotment and normal trading of New Shares	Wednesday, 28 September 2022
SPP offer opening date and SPP offer booklet is dispatched	Thursday, 29 September 2022
SPP offer closing date	Tuesday, 11 October 2022
Announcement of results of SPP (including scale back (if any))	Friday, 14 October 2022
Allotment of New Shares under the SPP	Monday, 17 October 2022
Normal trading of SPP shares and dispatch of holding statements	Tuesday, 18 October 2022

Note: This timetable is indicative and subject to variation. IVE reserves the right to alter the timetable as its absolute discretion and without notice, subject to ASX Listing Rules and Corporations Act 2001 (Cth) and other applicable law.

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Additional information

Further details of the Placement and SPP are set out in the Investor Presentation provided to the ASX on 19 September 2022. The Investor Presentation sets out important risks and disclaimers in respect of the Placement and SPP.

This announcement has been approved by the IVE Group board.

For further information, please contact: Investor Relations investors@ivegroup.com.au

For more information, please visit our website: www.ivegroup.com.au

Important information

This announcement may not be distributed or released in the United States or to US persons.

The New Shares to be offered and sold in the Placement and the SPP have not been, and will not be, registered under the US Securities Act of 1933, as amended (US Securities Act), or the securities laws of any state or other jurisdiction of the United States. Accordingly, the New Shares to be offered and sold in the Placement may not be offered or sold, directly or indirectly, in the United States, unless they are offered or sold in a transaction exempt from, or not subject to, the registration requirements of the US Securities Act and any other applicable US state securities laws. In addition, the New Shares to be offered and sold in the SPP may not be offered or sold, directly or indirectly, in the United States or any person that is acting for the account or benefit of a person in the United States.