JAYRIDE GROUP LIMITED — Capital/Financing Update 2019

Nov 13, 2019

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ASX Announcement

14th November 2019

Jayride Raises $3.5m plus Share Purchase Plan

• $3.5 million capital raised in $3.2 million Placement plus $0.3 million in commitments from board and senior managers to Share Purchase Plan

• Share Purchase Plan at Placement price available to all shareholders to raise an additional estimated $1.5 million for total $5 million capital raising

Jayride Group Limited (ASX:JAY) (“​ Jayride”​ or the “​ Company”​ ) the global online travel marketplace for airport transfers, is pleased to announce that it has completed a placement of 10,672,567 fully paid ordinary shares at $0.30 per share to sophisticated investors to raise ​ $3.2 million​ (​ “Placement”​ ), plus ​ $0.3 million​ in commitments from board and senior managers to the Share Purchase Plan (​ “SPP”​ ). Shareholders are offered the opportunity to participate in the SPP to raise an additional estimated ​ $1.5 million​ .

Highlights

• Jayride undertakes a Placement and SPP to raise an estimated ​ $5 million

• Placement has raised ​ $3.2 million​ and was heavily subscribed with strong support from new and existing institutional and sophisticated investors

• Placement supported by high-quality institutional investors including ​ Thorney Investment Group​ which will hold over 5% of the Company

• Share Purchase Plan at the Placement price with ​ $0.3 million​ in commitments from the Chairman, Managing Director, Non-Executive Directors and senior managers to raise an additional estimated ​ $1.5 million

• Jayride now well funded on a high-growth path to profitability, with funds raised through the Placement and SPP to improve Jayride traveller experience at scale, and to provide necessary working capital required to further grow the Company

• Jayride seeks to expand its board with new skills in scaling global travel platforms

Taylor Collison acted as Lead Manager to the Placement, which was well supported by new and existing shareholders.

2,783,161 Placement Shares will be issued under the Company’s Listing Rule 7.1 capacity and 7,889,406 Placement Shares under its Listing Rule 7.1A capacity. Settlement of the Placement is scheduled to occur on Wednesday 20th November 2019 and quotation of the new shares is expected to commence on that date.

Jayride Group Limited (ACN 155 285 528)

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Share Purchase Plan

In order to give existing shareholders an opportunity to invest at the same price as the Placement, the Company will offer shareholders the right to participate in a Share Purchase Plan (​ “SPP”​ ). The SPP gives eligible shareholders the opportunity to purchase shares in the Company without brokerage or other related charges.

The record date to participate in the SPP is 13th November 2019. Shareholders who hold JAY shares and are registered on the record date will be able to participate in the SPP.

The Offer price is at the Placement price of $0.30 per Share.

Shareholders can purchase shares totalling up to $30,000 (in any twelve-month period).

Shares issued under the SPP will rank equally with existing shares.

Indicative Dates for Share Purchase Plan*

Record Date	13th November 2019
Announcement of the Share Purchase Plan	14th November 2019
Documents mailed to eligible shareholders	20th November 2019
Opening date for acceptances	20th November 2019
Closing date for acceptances	11th December 2019
Allotment and issue of new shares	18th December 2019
Quotation of new shares on ASX	19th December 2019
Dispatch of shareholder statements	20th December 2019

• Dates are indicative only and subject to change

Full details of the SPP and Application Forms will be sent to all eligible shareholders on 20 November 2019.

Top-Up of SPP

To assist the Company in meeting its estimate of additional $1.5 million raised under the SPP, the Company may consider to top-up the SPP with a placement at the SPP price, following the AGM to be conducted on 29th November 2019.

Jayride Group Limited (ACN 155 285 528)

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For more information please contact

Rod Bishop

Managing Director Email: corporate@jayride.com

About Jayride Group Limited (ASX:JAY)

Jayride.com is a world-leading global airport transfers marketplace, which creates seamless experiences for travellers by allowing them to compare and book airport transfers around the world. With Jayride.com, travellers can compare and book with 3,300+ transport companies, servicing 1,500+ airports around the world, including the Americas, Europe, Middle East, Africa, Asia and the Pacific.

The Jayride.com platform aggregates ground transport companies and distributes them to travellers at Jayride.com; and via partnerships with other travel technology platforms, travel agencies and wholesalers. These partners implement Jayride.com APIs to sell ground transport and add new incremental ancillary revenue to their travel businesses.

Founded in 2012, Jayride.com is headquartered in Sydney, Australia.

For more information, please visit www.jayride.com

Forward-looking statements

This announcement contains forward-looking statements that involve risks and uncertainties. Indications of, and guidelines or outlook on, future earnings, distributions or financial position or performance and targets, estimates and assumptions respect of production, prices, operating costs, results, capital expenditures, reserves and resources are also forward-looking statements. These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions and estimates regarding future events and actions that, while considered reasonable as at the date of this announcement and are expected to take place, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, the directors and management. We cannot and do not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this announcement will actually occur and readers are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements are subject to various risk factors that could cause actual events or results to differ materially from the events or results estimated, expressed or anticipated in these statements.

Jayride Group Limited (ACN 155 285 528)

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