READCLOUD LIMITED — Capital/Financing Update 2021

Sep 30, 2021

ASX Release

1 October 2021

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Section 708A Cleansing Statement and Appendix 2A

This notice is given by ReadCloud Limited ( Company ) under Section 708A(5)(e) of the Corporations Act 2001 (Cth) (Corporation Act).

The Company hereby confirms that it has today:

• (a) issued 657,896 ordinary fully paid shares at a deemed issue price of $0.38 (38 cents) per Share in payment of deferred consideration for the acquisition of PKY Media Pty Ltd;

• (b) issued 789,474 ordinary fully paid shares at a deemed issue price of $0.38 (38 cents) per Share in payment of deferred consideration for the acquisition of Ripponlea Institute Pty Ltd;

• (c) the Shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act;

• (d) the Company is providing this notice under paragraph 5(e) of Section 708A of the Corporations Act;

• (e) as at the date of this notice the Company, as a disclosing entity under the Corporations Act, has compiled with:

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

  • (ii) section 674 of the Corporations Act as it applies to the Company; and

• (f) as at the date of this announcement, there is no excluded information of the type referred to in Sections 708A(7) and 708A(8) of the Corporations Act.

Appendix 2A documents will be lodged following this announcement.

-Ends-

CONTACTS:

Investors & Media:

Luke Murphy, Chief Financial Officer +61 409 933 924

Readcloud Limited | 284 Bay Street, Brighton, Victoria, 3186 P +61 3 9078 4833 | W www.readcloud.com ABN 44 136 815 891

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About ReadCloud Limited

ReadCloud is the leading provider of eLearning software solutions, including eBooks, to Schools and the Vocational Education and Training (VET) sector in Australia. ReadCloud’s proprietary eBook platform delivers digital content to students and teachers with extensive functionality, including the ability to make commentary in, and import third party content into eBooks.

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, substantially improving learning outcomes.

ReadCloud sources content for its solutions from multiple publishers, delivering the full Australian school curriculum in digital form in all States, on one platform. In the Vocational Education and Training (VET) sector, ReadCloud provides over 55 digital VET courses and auspicing services to schools across Australia.

ReadCloud currently has over 116,000 users on its platform.

This announcement is authorised for release to the market by the Board of Directors of ReadCloud Limited.

Readcloud Limited | 284 Bay Street, Brighton, Victoria, 3186 P +61 3 9078 4833 | W www.readcloud.com ABN 44 136 815 891