SCHOOLBLAZER LIMITED — Board/Management Information 2021

May 6, 2021

7 May 2021

Company Announcements Office Australian Securities Exchange Authorised by the Board for immediate release

==> picture [87 x 148] intentionally omitted <==

Speech to Extraordinary General Meeting

Please find attached the prepared speech to be made to the HGL Ltd EGM to be held this morning.

Yours faithfully

Iain Thompson Company Secretary

==> picture [90 x 53] intentionally omitted <==

Good morning Ladies and Gentlemen, my name is Sandy Beard, and I am the Chair of HGL. On behalf of all your Directors I welcome you to this extraordinary General Meeting of HGL Limited.

The EGM has been called to approve the successful and transformational capital raising of HGL Limited and associated resolutions.

HGL is currently finalising the accounts for the half year ended 31 March, which we expect to release to the ASX on May 25, and in view of this and the limited numbers in attendance today, we won’t be providing any formal update on results at this meeting.

As outlined at the AGM in February the board resolved to pursue a diversified investment strategy to enhance returns to shareholders. Underpinned by a group of strategic investors the Board considered that undertaking a capital raising at this time would facilitate the ability of the Company to execute the strategy, recruit investment professionals, and allow the Company to execute on investment opportunities.

In recognition that existing shareholders should not be disadvantaged in the capital raise, the board also approved a share purchase plan of up to $30,000 per eligible holder. The SPP closes tonight at 5pm, and acceptances to date have more than doubled the $1 million target. The SPP will be scaled back toward the $1 million target, with details of scaling to be advised following completion of the offer.

The Board is extremely appreciative of the support, welcomes all new shareholders and looks forward to executing on the plan and communicating progress shortly.

The major shareholder groups have also been supportive of the placement and SPP.

Before we move to the formal resolutions, are there any questions?