READCLOUD LIMITED — Capital/Financing Update 2022

Jul 10, 2022

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ASX Release

11 July 2022

ReadCloud signs first overseas eBooks Solutions deal

Highlights

• Four-year agreement to become the exclusive provider of eBooks to the parents of over 4,000 students in a leading London based International online school

• Agreement with King’s InterHigh to provide a new overseas revenue stream

• King’s InterHigh is part of the Inspired Education Group, which provides education to over 55,000 students worldwide

ReadCloud Limited (“ReadCloud” or “the Company”; ASX: RCL) is pleased to announce it has signed a 4-year Software Licence Agreement with King’s InterHigh to become the exclusive provider of eBooks to the parents of over 4,000 students aged 7 to 18. King’s InterHigh is a British International online school based in London, United Kingdom, with the students being taught remotely as they are based in countries around the world.

The agreement will see ReadCloud deliver publishers’ eBooks in an overseas market via its platform for the first time, marking an important milestone for the Company. It will provide a new overseas revenue stream for ReadCloud, with revenues determined by the level of uptake of eBooks by the parents of King’s InterHigh’s students, the amount of which will not be known until September 2022.

Students and teachers will have access to the innovative social collaboration features of the ReadCloud eBooks platform, which was a key part of King’s InterHigh deciding to partner with ReadCloud.

ReadCloud will provide an online booklist for parents to purchase eBooks from a large range of publishers for the UK school year which for King’s InterHigh starts on 5 September 2022.

The CEO & Co-Founder of ReadCloud, Lars Lindstrom, said: “We are delighted to welcome King’s InterHigh as a key school partner who is at the forefront of utilising Educational Technology to provide best-of-breed distance education.

“It is a great privilege to see our software adding value to a leading prestigious online school in London and it forms part of our strategic focus on selected international opportunities for the ReadCloud platform.”

Ashley Harrold, Executive Head of King’s InterHigh, said: “We are always seeking out the best educational and technological solutions for our students and families at King’s InterHigh, and are pleased to have found a partner like ReadCloud.”

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 King’s InterHigh

King’s InterHigh is an independent British international school. Offering Primary, Secondary and Sixth Form education, we cater to students from age 7 – 18 who are looking for a high quality international and British education delivered in a way that revolves around their lifestyle. The school offers the International Baccalaureate® (IB) Diploma Programme (DP), International GCSEs and A Levels.

Considered the original online school and founded in 2005, King’s InterHigh offers easy access to quality live and recorded lessons from anywhere in the world. Lessons are designed and optimised for online and taught by fully qualified and experienced teachers. Combined with a proven educational model and innovative delivery, we bring life to lessons and increase students’ involvement in learning new concepts

King’s InterHigh is an extraordinary blend of 50 years of academic excellence of the King’s College Group and of InterHigh’s over 15 years of delivering unparalleled online education. With over 10,000 alumni and graduates progressing to fulfilling careers and to further studies in universities across the UK and internationally, King’s InterHigh is a global learning community.

www.kingsinterhigh.co.uk

King’s InterHigh is part of the Inspired Education Group, which is one of the world’s largest and most innovative education groups, with over 80 premium private schools spanning 5 continents. Inspired provides proven excellence in premium education to over 55,000 students worldwide from 1 to 18 years of age.

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

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CONTACTS: Investors & Media: Luke Murphy, Chief Financial Officer +61 409 933 924

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.

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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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 9692 7222 | W www.readcloud.com ABN 44 136 815 891