OVANTI LIMITED — Capital/Financing Update 2021

Feb 22, 2021

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IOUPAY LIMITED (ASX: IOU) (ACN 091 192 871) Suite 305, Level 3, 35 Lime Street, Sydney NSW 2000 Tel: (02) 8296 0000 Website: www.iou-pay.com

23 February 2021 ASX Announcement IOUpay Limited (ASX Code: IOU)

Cleansing Notice pursuant to section 708A(5)(e) of the Corporations Act

This notice is given by IOUpay Limited (ACN 091 192 871) (ASX:IOU) ( Company ) under section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Corporations Act ).

The Company has today completed an issue of 100,000,000 fully paid ordinary shares ( Shares ) at $0.50 per Share to institutional and sophisticated investors to raise $50,000,000 ( Placement ).

In respect of the Placement, the Company advises that:

• 1 the Shares the subject of this notice were issued without disclosure to investors under Part 6D.2 of the Corporations Act;

• 2 this notice is being given under section 708A(5)(e) of the Corporations Act;

• 3 as at the date of this notice, the Company has complied with:

  • (a) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

  • (b) section 674 of the Corporations Act; and

• 4 as at the date of this notice, there is no "excluded information" as defined in sections 708A(7) or 708A(8) of the Corporations Act.

The release of this announcement was authorised by the board of directors of the Company.

Jarrod White Company Secretary

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