JAYRIDE GROUP LIMITED — Capital/Financing Update 2019

Mar 10, 2019

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ASX Announcement

11th Mar 2019

Jayride Secures A$3M Finance Facility

Jayride Group Limited (ASX:JAY) (“​ Jayride” or the “​ Company”​ ) the e-commerce marketplace that provides seamless transport experiences for travellers, to compare and book transfers from 3,000+ transport companies, is pleased to announce it has secured a finance facility of A$3M (in two tranches of A$2M and A$1M) from Pure Asset Management Pty Ltd.

“Following the addition of ride-hailing companies like Lyft and Gett to the Jayride marketplace, as well as rapid expansion into new territories, Jayride is well positioned for continuous growth” said Rod Bishop, Managing Director of Jayride, “This new funding will help us ensure we can execute our strategy while fully funding the growth of the company towards profitability”.

The key terms of the finance facility are attached.

It is expected that the initial tranche drawdown of A$2M will be made this month.

For more information please contact

Rod Bishop

Managing Director Email: corporate@jayride.com

Jayride Group Limited (ACN 155 285 528)

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About Jayride Group Limited

Jayride.com provides seamless transport experiences for travellers by allowing them compare and book ground transfers around the world. With Jayride.com, travellers can compare and book with 3,000+ transport companies, servicing destinations including over 1000+ airports across North America, Europe, Middle East, Asia and the Pacific.

The Jayride.com platform aggregates ground transfer 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 transfers 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

About Pure Asset Management

Pure Asset Management (‘PURE’) is a leading provider of hybrid growth capital Australia’s most compelling ASX-listed small capitalisation companies. Founded in 2018, PURE funds working capital, acquisitions and buybacks via structures that are less dilutive than vanilla equity capital, offering companies a genuine alternative to direct equity markets.

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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Finance Facility Terms

Amount	A$3,000,000 in two tranches, being one tranche ofA$2,000,000 (Initial Tranche) and a second optionaltranche of A$1,000,000 (between 1 January 2020and 30 June 2020) (Second Tranche)
Term	36 months from the date of drawdown
Interest Rate	10.50% per annum
Warrants Issued	The warrants associated with the A$2M InitialTranche will have an exercise price which is thelower of:a) A$0.553; orb) a 25% premium to the raise price of any futurecapital raise requiring EGM approval to increaseshares on issue by greater than 15%.The number of Initial Tranche Warrants to beissued at the time of drawdown of the InitialTranche will be 3,616,637 Warrants, being A$2Mdivided by the Exercise Price of A$0.553.In the instance that the Company elects to drawdown the Second Tranche, the warrants associatedwith the A$1M Second Tranche will have anexercise price which is the lower of:a) 25% premium to the 30-day VWAP precedingdrawdown of the Second Tranche; orb) a 25% premium to the raise price of any futurecapital raise requiring EGM approval to increaseshares on issue by greater than 15%.The number of Second Tranche Warrants to beissued will be $A1M divided by the Exercise Price.
Right to Compel Conversion	The Company may compel conversion of the InitialTranche of 3,616,637 Warrants if the VWAPexceeds $0.75 over a 30 day period.
Post Conversion Escrow	Ordinary shares resulting from the exercise ofWarrants will be escrowed for a period of 6months post conversion.
Loan Early Redemption	The Company may redeem the loan early subjectto standard commercial terms.

Jayride Group Limited (ACN 155 285 528)

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