RENT.COM.AU LIMITED — Capital/Financing Update 2020

Sep 8, 2020

ASX Announcement

9 September 2020

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RENT.COM.AU RAISES FUNDS TO LAUNCH RENTPAY

Key Highlights:

• Placement to raise $1,500,000 at $0.045 per Share (before costs)

• Funds raised to market and launch RentPay, RNT’s flagship “tenancy period” product

• Placement to both existing and new institutional and sophisticated investors

• Offer well over-subscribed

Rent.com.au Limited (ASX: RNT ) (“ Rent.com.au ” or “ the Company ”), Australia’s Number 1 website dedicated to rental property, is pleased to announce that it has received binding commitments to raise $1,500,000 (before costs) via the issue of 33,333,333 new fully paid ordinary shares (“ Shares ”) at an issue price of $0.045 per Share (“ the Placement ”) to sophisticated, professional and other exempt investors pursuant to section 708 of the Corporations Act 2001 (Cth), utilising part of its capacity under ASX Listing Rule 7.1. The Placement issue price of $0.045 per Share represents a discount of 10% to the last price at which the Company’s shares traded prior to announcement of the Placement.

“With our existing core Rent.com.au business now profitable, and with RentPay development nearing completion, the Placement ensures that we are well placed to drive the next phase of the Company’s growth via RentPay,” said Rent.com.au Chief Executive Officer Greg Bader.

“Gross proceeds will be applied towards launching Rent.com.au’s flagship “tenancy period” product, RentPay. Significant progress has been made with the majority of RentPay development completed, with payment systems and banking integrations underway and to be completed before user trials commence.

“We’re fresh off the back of our best ever quarter to end FY20 and we’re performing strongly in the current quarter too which has no doubt contributed to our capital raising being over-subscribed. We remain thankful for the strong support from our existing shareholders and welcome the new investors into our shareholder base.”

Lazarus Corporate Finance Pty Ltd are acting as Lead Manager to the Placement and the Placement shares are expected to be allotted on Wednesday, 16 September 2020.

This announcement is authorised by the Board the Company.

Investors wishing to keep up to date with company news and events are invited to subscribe for updates at: https://investors.rent.com.au/

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About rent.com.au

rent.com.au (ASX: RNT) is Australia’s #1 website dedicated to rental property. Our rental only positioning allows RNT to legitimately advocate for renting and renters.

Our Vision and Mission

Reimagining the renting experience to create Australia’s most empowered rental community.

Inspired by our customers and through the clever use of technology we deliver innovative solutions to remove the complexities of renting and create positive, lasting change.

Our Products

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An easy way for a renter to verify their ID and check for any reported breaches in their tenancy history, giving them an edge on their application.

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A move now pay later product that helps renters bridge the gap from one rental to another by financing their bond online.

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A free and easy to use utility connection service in partnership with AGL that not only makes moving hassle free – ensuring the lights are on and the water is hot when a renter moves into their new place but also provides the renter with a $100 gift card to help them turn a house into a home.

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Renter (and Pet) Resume

Renters can streamline their rental search with Renter Resume. Creating it once and using it to apply for as many properties as they like.

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RentPay

Rental payments in the palm of their hand. Renters can make payments, track payments, view their rental history, and set-up reminders.

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