ROCKETDNA LTD. — Capital/Financing Update 2019

Oct 23, 2019

ASX Announcement

24 October 2019

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PARAZERO RAISES AU$642K VIA PLACEMENT

• Completes institutional and sophisticated investor placement of AU$642k (before costs)

• • Use of funds for product inventory and general working capital

Drone Safety Systems company, ParaZero Limited (ASX: PRZ) ( ParaZero or the Company ) is pleased to announce that it has received binding commitments from institutional and sophisticated investors for a placement of AU$642K (before costs) (US$440K based on an exchange rate of 0.68493) which will be completed by way of a two tranche placement as detailed below ( Placement ).

Details of the Placement

The Company will issue a total of 10,706,666 shares at $0.06 per share, together with a right to one free attaching unlisted option to acquire a Share for every 10.78 Shares (rounded up to the nearest number).

The first tranche will consist of 10,219,999 shares ( Tranche 1 shares ) at $0.06 per share together with a right to one free attaching unlisted option to acquire a Share for every 10.78 Tranche 1 Shares (rounded up to the nearest number). The Tranche 1 Shares and free attaching unlisted options will be issued on or about Friday, 1 November. The shares and options will be issued within the Company’s existing ASX Listing Rule 7.1 placement capacity.

The second tranche, being subject to shareholder approval at a General Meeting of the Company to be held on or about 20 December 2019, is to issue 486,667 fully paid ordinary shares ( Tranche 2 Shares ) at $0.06 per share, together with one free attaching unlisted option to acquire a Share for every 10.78 Tranche 2 Shares (rounded up to the nearest number). ParaZero’s CEO will be participating in Tranche 2, subject to shareholder approval at the Company’s General Meeting.

The free attaching unlisted options being issued under both tranches, are to have an exercise price of $0.09 and an expiry date of five years from the date of issue.

The funds raised will be used to fund the Company’s product inventory and for ongoing working capital.

-ENDS-

For more information, please contact: Corporate enquiries Stephen Buckley Company Secretary P: +61 (0)8 6189 1155

About ParaZero Limited

ParaZero (www.parazero.com) was founded in 2014 to accomplish a vision to enable the drone industry to realise its greatest potential. ParaZero offers a smart and intuitive solution to enable drone industry growth by designing, developing and providing best-in-class autonomous safety systems for commercial drones.

Parazero Limited ACN 618 678 701 T: +61 8 6377 8043 | A: Level 2, 46-50 Kings Park Road, West Perth WA 6005