RANGE INTERNATIONAL LIMITED — Capital/Financing Update 2021

Aug 24, 2021

Announcement Summary

Entity name

RANGE INTERNATIONAL LIMITED

Announcement Type

New announcement

Date of this announcement

25/8/2021

The Proposed issue is:

A standard pro rata issue (including non-renounceable or renounceable)

Total number of +securities proposed to be issued for a standard pro rata issue (including non-renounceable or renounceable)

ASX +security code	+Security description	Maximum Number of+securities to be issued
RAN	ORDINARY FULLY PAID	451,371,444

Ex date

27/8/2021

+Record date

30/8/2021

Offer closing date

14/9/2021

Issue date

20/9/2021

Refer to next page for full details of the announcement

Part 1 - Entity and announcement details

1.1 Name of +Entity

RANGE INTERNATIONAL LIMITED

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).

1.2 Registered Number Type

Registration Number

ACN

611998200

1.3 ASX issuer code

RAN

1.4 The announcement is

New announcement

1.5 Date of this announcement

25/8/2021

1.6 The Proposed issue is:

A standard +pro rata issue (non-renounceable or renounceable)

1.6a The proposed standard +pro rata issue is:

• Non-renounceable

Part 3 - Details of proposed entitlement offer issue

Part 3A - Conditions

3A.1 Do any external approvals need to be obtained or other conditions satisfied before the entitlement offer can proceed on an unconditional basis?

No

Part 3B - Offer details

Class or classes of +securities that will participate in the proposed issue and class or classes of +securities proposed to be issued

ASX +security code and description

RAN : ORDINARY FULLY PAID

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? Existing class

Will the proposed issue of this +security include an offer of attaching +securities? No No

If the entity has quoted company options, do the terms entitle option holders to participate on exercise?

Details of +securities proposed to be issued

ASX +security code and description

RAN : ORDINARY FULLY PAID

ISIN Code (if Issuer is a foreign company and +securities are non CDIs)

ISIN Code for the entitlement or right to participate in a non-renounceable issue (if Issuer is foreign company and +securities are non CDIs)

Offer ratio (ratio to existing holdings at which the proposed +securities will be issued)

The quantity of additional +securities to be issued For a given quantity of +securities held 1

1

What will be done with fractionalentitlements?	Maximum number of +securitiesproposed to be issued (subject torounding)
Fractions rounded up to the next	451,371,444
whole number

Offer price details for retail security holders

In what currency will the offer be	What is the offer price per +security
made?	for the retail offer?
AUD - Australian Dollar	AUD 0.00800

Oversubscription & Scale back details

Will individual +security holders be permitted to apply for more than their entitlement (i.e. to over-subscribe)? No

Will a scale back be applied if the offer is over-subscribed? No

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Part 3C - Timetable

3C.1 +Record date

30/8/2021

3C.2 Ex date

27/8/2021

3C.4 Record date

30/8/2021

3C.5 Date on which offer documents will be sent to +security holders entitled to participate in the +pro rata issue

2/9/2021

3C.6 Offer closing date

14/9/2021

3C.7 Last day to extend the offer closing date

9/9/2021

3C.9 Trading in new +securities commences on a deferred settlement basis 15/9/2021

3C.11 +Issue date and last day for entity to announce results of +pro rata issue

20/9/2021

3C.12 Date trading starts on a normal T+2 basis

21/9/2021

3C.13 First settlement date of trades conducted on a +deferred settlement basis and on a normal T+2 basis

23/9/2021

Part 3E - Fees and expenses

3E.1 Will there be a lead manager or broker to the proposed offer? No

3E.2 Is the proposed offer to be underwritten? Yes

3E.2a Who are the underwriter(s)?

(1) Peak Asset Management, (2) Ridge Capital, (3) Alluvion Capital and (4) Mr Richard Jenkins (Director of the Company).

3E.2b What is the extent of the underwriting (ie the amount or proportion of the offer that is underwritten)?

The Entitlement Offer is fully underwritten.

3E.2c What fees, commissions or other consideration are payable to them for acting as underwriter(s)?

The Company has agreed to pay the following fees to each of the underwriters:

(A) cash equal to 3% of each underwriters commitment and 3% of the actual Shortfall amount placed with each underwriter; and

(b) Underwriter Options, each exercisable at $0.02 and expiring 18 months form the date of issue. The Company has agreed to the following allotments of Underwriter Options: (1) 18,000,000 options, (2) 6,700,000 options, (3) 3,300,000 options and (4) 8,109,716 options.

Further details concerning the underwriter fees will be set out in the Entitlement Offer Booklet.

3E.2d Please provide a summary of the significant events that could lead to the underwriting being terminated

Events include but are not limited to, if the Entitlement Offer is withdrawn, the Company is prevented from issuing the Offer Shares, a material adverse change in the financial or operating conditions of the Company, a director of the Company is charged with an indictable offence, an insolvency event occurs in relation to the Company, a statement in the Entitlement Offer Booklet is or becomes misleading or deceptive or likely to mislead or deceive; ASIC holds, or gives notice of intention to hold, a hearing or investigation in relation to the Entitlement Offer.

3E.2e Is a party referred to in listing rule 10.11 underwriting or sub-underwriting the proposed offer? Yes

3E.2e (i) What is the name of that party?

Mr Richard Jenkins

3E.2e (ii) What is the extent of their underwriting or sub-underwriting (ie the amount or proportion of the offer they have underwritten or sub-underwritten)?

Mr Jenkins has offered to underwrite 22.46% of the Entitlement Offer (equal to $810,971).

3E.2e (iii) What fee, commission or other consideration is payable to them for acting as underwriter or sub-underwriter?

Mr Jenkins is to receive:

• (i) cash fees equal to:
• (A) $24,329.15, being 3% of Mr Jenkins commitment; and
• (B) 3% of the actual Shortfall amount placed with Mr Jenkins; and
• (ii) subject Shareholder approval, 8,109,716 Underwriter Options.

3E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a handling fee or commission? No

3E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed offer

Part 3F - Further Information

3F.1 The purpose(s) for which the entity intends to use the cash raised by the proposed issue

Capital expenditures (CAPEX), operating expense needs, investment into inventory, rental business growth and to pay the costs of the Entitlement Offer.

3F.2 Will holdings on different registers or subregisters be aggregated for the purposes of determining entitlements to the issue?

No

3F.3 Will the entity be changing its dividend/distribution policy if the proposed issue is successful? No

3F.4 Countries in which the entity has +security holders who will not be eligible to participate in the proposed issue

All countries other than Australia and New Zealand, unless otherwise approved by the Company.

3F.5 Will the offer be made to eligible beneficiaries on whose behalf eligible nominees or custodians hold existing +securities

Yes

3F.5a Please provide further details of the offer to eligible beneficiaries

The rights issue offer booklet and application form will be sent to eligible nominees and custodians for them to disseminate to eligible beneficiaries.

3F.6 URL on the entity's website where investors can download information about the proposed issue

https://www.rangeinternational.automic.com.au/documents

3F.7 Any other information the entity wishes to provide about the proposed issue

3F.8 Will the offer of rights under the rights issue be made under a disclosure document or product disclosure statement under Chapter 6D or Part 7.9 of the Corporations Act (as applicable)? No

3F.9 Any on-sale of the +securities proposed to be issued within 12 months of their date of issue will comply with the secondary sale provisions in sections 707(3) and 1012C(6) of the Corporations Act by virtue of: The publication of a cleansing notice under section 708A(5), 708AA(2)(f), 1012DA(5) or 1012DAA(2)(f)