READCLOUD LIMITED — Board/Management Information 2018

Feb 22, 2018

ACN 136 815 891 ABN 44 136 815 891

Level 1, 426 Glen Huntly Road, Elsternwick, Victoria, 3185

Contact:

Phone: +61 3 9692 7222 Email: contact@readcloud.com

Board of Directors:

Paul Collins, Non-Exec Chairman Lars Lindstrom, Managing Director Darren Hunter, Executive Director

Company Secretary:

Melanie Leydin

Securities on Issue:

RCL: 80,000,000 ordinary shares RCLO: 19,999,995 options

Website:

https://www.readcloud.com/

READCLOUD APPOINTS SENIOR SALES EXECUTIVE TO ACCELERATE GROWTH

ReadCloud Limited (ReadCloud), (ASX: RCL, RCLO), provider of a leading digital eLearning solution to Australian schools, is pleased to announce the appointment of experienced executive, Peter Williams as National Sales Director. Peter will commence on 1 March 2018 to build ReadCloud's national sales team to accelerate sales growth.

Peter brings extensive experience in Software as a Service (SaaS) sales methodology and in leading and building software sales teams. Peter has over 30 years business experience and 20 years IT experience including in senior roles in a $2bn+ global enterprise.

Peter has been the Sales leader at several IT services companies including InvoiceSmash and most recently at Cloudster. He has previously assisted an IT services company to scale revenues from $4m to $20m in 3 years. Peter has co-founded two successful SaaS (cloud) businesses and has been a team leader building a fast growing SaaS integration business for the logistics industry.

Peter has a significant interest in ReadCloud through his part ownership of Amity Agency Pty Ltd which is the largest shareholder in ReadCloud.

CEO Lars Lindstrom said: "We are really excited to see Peter return to ReadCloud to assist in accelerating our growth. As a founding shareholder, Peter has intricate knowledge of the ReadCloud platform, the market and brings a very impressive track record of successfully scaling national IT sales teams."

ABOUT READCLOUD

ReadCloud is an Australian education technology company that provides a leading digital eLearning solution to Australian secondary schools.

Students and teachers can share notes, questions, videos and weblinks directly inside the eBooks, turning the eBook into a place for discussion, collaboration and social learning, and substantially improving learning outcomes.

The school's curriculum is accessible in one App, across multiple platforms and devices, regardless of the school's choice of publisher.

ReadCloud had 50 schools and 21,800 Users using its platform as at 30 June 2017 and the Company is expecting to double User numbers in 2018.

Further information can be found at: www.readcloud .com.

For further information, please contact:

ReadCloud Limited

Lars Lindstrom, CEO Tel: +61 3 9692 7222 E: lars@readcloud.com