READCLOUD LIMITED — Capital/Financing Update 2022

Nov 9, 2022

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ASX Release

10 November 2022

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Section 708A Cleansing Statement

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

The Company hereby confirms that it has today:

• (a) issued 1,875,000 ordinary fully paid shares at a deemed issue price of $0.20 (20 cents) per Share in payment of upfront consideration for the acquisition of Southern Solutions – Training Services Pty Ltd;

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

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

• (d) 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

• (e) 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.

-Ends-

CONTACTS:

Investors & Media:

Luke Murphy, Chief Financial Officer +61 409 933 924

Readcloud Limited | 126 Church Street, Brighton, Victoria, 3186 P +61 3 9692 7222 | 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 over 600 Schools and in 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 60 digital VET courses and auspicing services to schools across Australia.

ReadCloud currently has over 131,000 users on its platform.

Readcloud Limited | 126 Church Street, Brighton, Victoria, 3186 P +61 3 9078 4833 | W www.readcloud.com ABN 44 136 815 891