READCLOUD LIMITED — Regulatory Filings 2021

Oct 5, 2021

ASX Release

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6 October 2021

Change of financial year-end from 30 June to 30 September

ReadCloud Limited (“ReadCloud” or “the Company”; ASX: RCL) announced today that it will change its financial year-end from 30 June to 30 September.

Rationale for the change

The ReadCloud business cycle for both the Full-Curriculum School and VET-in-School segments aligns with the Australian school year which commences in the first quarter of each calendar year.

Currently, ReadCloud reports on a 30 June year-end financial year, with half-year reporting as at 31 December annually. The key School purchasing period for ReadCloud software and course content is from October to March each Calendar year. This results in ReadCloud’s key revenue period being split over two financial reporting periods, making it more difficult for investors to interpret the Company’s reported results.

The Company considers a change in financial year-end to 30 September for full year and 31 March for half year results will be more closely aligned with the school year and will improve the clarity of the Company’s results. This will also provide timelier disclosure of information relating to sales, operational and financial progress and performance.

Management believes it can provide greater transparency to the market by reporting the Company’s half-year results to 31 March annually. At this time the majority of FullCurriculum eBook sales will have been recorded and the student enrolment process for the VET-in-schools programs will have concluded.

Transition to new reporting period

The Company has previously released an annual report for the year ended 30 June 2021, or the existing basis, and will release a financial report on the 3-month period ending 30 September 2021. Thereafter:

• the 1H22 period will be the 6 months ending 31 March 2022, with 1H22 results being announced in late May 2022; and

• the FY22 period will be the 12 months ending 30 September 2022, with FY results being announced in late November 2022.

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

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.

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