ROOLIFE GROUP LTD — Capital/Financing Update 2024

Sep 1, 2024

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02 September 2024

NEW CHINA SALES AGREEMENT FOR $1.25M OF RLG BEER

• New agreement for RLG Kangaroo Beer for minimum sales of $1,250,000 in Year 1

• RLG Rock Kangaroo Beer “Official Beer” of AustCham Shanghai 30-year Anniversary Event

• RLG and Henan Rock Kangaroo Brand Management produced Kangaroo-brand beer is produced from Australian ingredients and sold in China

• RLG wins “Best Marketing Award” for Remedy Drinks Kombucha at AustCham Shanghai 30-year Anniversary Gala

e-Commerce company RooLife Group Ltd ( ASX:RLG ) (“ RLG ” or “ Company ”) is delighted to provide an update on its RLG Kangaroo Beer, which was showcased as the “Official Beer” of the AustCham Shanghai 30-year Anniversary Event, with the Company then entering into an agreement to deliver a minimum of $1,250,000 in beer sales in the first year of operation.

Under the terms of the agreement entered into with Henan Rock Kangaroo Brand Management Co., Ltd, (“ HRKB ”), HRKB will manufacture the beer on behalf of RLG and market and sell it through their established sales channels guaranteeing a minimum of $1,250,000 in sales in the first year.

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The RLG Kangaroo Beer, produced from Australian ingredients and manufactured and sold in China, provides RLG exposure and access to the largest and fastest growing beer market in the world with forecast sales of $180 billion in 2024[*] and leverages the high regard for quality Australian ingredients, combined with RLG’s growing network of distributors in China.

The new agreement follows the first beer sales achieved in June 2024 which delivered increasing profit margin contribution to the Company with subsequent orders and sales in July and August leading to this agreement to expand RLG’s footprint further in the beer market in China.

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Under the key terms of the agreement, HRKB is to produce, market and distribute beer on behalf of RLG with sales forecast to grow throughout the year, but delivering a guaranteed minimum of $1,250,000 in sales in the first year with the profits shared between RLG and HRKB on the basis of 51% to RLG and 49% to HRKB. Both parties have the option to renew or cancel by providing 30 days’ notice prior to the anniversary of each year of the agreement’s operation. RLG has the right to cancel the agreement at its election for non-achievement of minimum sales performance.

In further endorsement of RLG and its sales and marketing capabilities, RLG received the AustCham Shanghai Business Award for the “Best Campaign Award” for achievements in marketing and selling Remedy Drinks Kombucha in China.

“ Remedy Drinks, the number one selling kombucha brand in Australia, entered the Chinese market in 2020 with the help of RLG, which currently sells kombucha in more than 200 offline stores in China. RLG has delivered many online and offline events to educate Chinese consumers about kombucha, making Remedy the # 1 brand in Tmall's Kombucha category. ”

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RooLife Group CEO, Bryan Carr said : “We are excited to be continuing to grow out our own-brand product range in China as we make in-roads into the huge beer market in China with our proudly Australian-themed craft beer. Ganbei! We are also very proud to be recognised by AustCham Shanghai for our achievements in marketing and selling the iconic Remedy Drinks Kombucha in China. It is an honour to represent such a strong Australian brand and product as Remedy Drinks Kombucha in such a significant market as China.”

ENDS

* Source: https://www.statista.com/topics/7216/beer-industry-in-china/#topicOverview, https://www.visualcapitalist.com/which-countries-drink-themost-beer-3/

Issued by : RooLife Group Ltd

Authorised by: The Board of RooLife Group Ltd

For further information, please visit the RooLife website at www.roolifegroup.com.au or contact:

Bryan Carr

Managing Director Ph: +61 8 6444 1702 Email: ir@roolifegroup.com.au

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