ORCODA LIMITED — Capital/Financing Update 2019

Oct 31, 2019

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Orcoda Limited Unit 312, 434 St Kilda Road, Melbourne, Vic, 3004 Australia Tel +61 3 9866 7333 www.orcoda.com

ASX RELEASE 1 November 2019

AVESTIX AND ORCODA CONNECT PARTNERSHIP

Orcoda Limited (ASX: ODA) (‘Orcoda’ or ‘the Company’), the logistics optimisation company working in the resources, healthcare, and transport sectors, is pleased to announce that it has entered into an agency agreement with fund manager Avestix Capital Pty Ltd (Avestix) to purchase Orcoda’s vehicle license businesses through a newly established equity fund. Each vehicle licence is valued at approximately $100K.

Orcoda’s vehicle rental business enables licensees to purchase single or multiple vehicle licenses. The vehicles are rented back to Orcoda, which uses them for ‘Orcoda Connect’ which provides transport to the aged and to people with disabilities.

Orcoda Connect uses disruptive technology and clever routing software to provide aged clients and people with disabilities with a safe, secure scheduled transport service, provided by a trained, uniformed driver who provides walk-in walk-out assistance to and from the vehicle. Using Orcoda’s long established logistics management technology and optimisation software, Orcoda Connect provides a fully compliant transport service.

With vehicles operating in hubs including medical practices, RSL clubs and retirement villages, Aged Care Villages, Not for Profit and For Profit Home Care providers (Source Locations). Orcoda Connect provides a superior scheduled service at a lower cost than taxis or Uber's on demand service. So far, the offering has had unprecedented demand from the Source Locations and is expanding quickly. New hubs will be established across Australia as the business expands.

Susan Lindeque, CEO of Avestix says “Orcoda Connect is one of the best business opportunities currently available in the marketplace because of the known rental income stream in a marketplace which we expect to double in size over the next 10 years.”

Gerry Brady, Head of Finance, Economics and Investments at Avestix says: “We have completed a full due diligence analysis on the Orcoda financial model. We conclude it is one of the best business propositions we have seen.”

Geoffrey Jamieson, Managing Director of Orcoda adds “Our vehicle license business is ideal for fund managers like Avestix as the fund has a known income stream. Orcoda Connect provides a value for money transport solution to those that need it most.”

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About Avestix

Avestix is dedicated to nurturing innovation and connecting opportunities with capital. Avestix focuses on new models for raising capital, technological innovation and advancements in global finance, supply chains, investment and property markets and helps outstanding individuals and organisations accelerate their growth and develop sustainable and creative business models.

About Orcoda

Orcoda Limited (ASX: ODA) is a leading Australian logistics solution provider operating in the resources and infrastructure, transport and logistics and healthcare sectors, with expertise in business efficiency and optimisation of processes. We are operational efficiency specialists who supply best-in-class solutions combining software, management expertise and contracting services that make our clients among the most productive and cost-effective organisations in their respective industries.

Our clients come from a diverse array of industry sectors and include some of Australia’s largest companies operating in the resources and infrastructure, transport and logistics and healthcare sectors. www.orcoda.com

-ENDS-

For more information please contact:

Geoffrey Jamieson, Managing Director +61 3 9866 7333 info@orcoda.com