SCHOOLBLAZER LIMITED — Capital/Financing Update 2022

Sep 14, 2022

ASX ANNOUNCEMENT

DIVESTMENT UPDATE, DIVIDENDS DECLARATION AND BOARD UPDATE

15th September 2022

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

PEGASUS DIVESTMENT

Further to announcement of August 10, 2022, Hancock and Gore (H&G) is pleased to advise that all conditions precedent have now been met for the divestment of its 70% interest in Pegasus Healthcare Group (Pegasus), for approximately $10 million, with completion scheduled for Friday September 16, 2022.

The Divestment further strengthens the balance sheet of H&G and strongly positions the Company for continued investment activity.

DIVIDENDS

Following the satisfaction of conditions precedent for divestment of Pegasus, and as advised in the announcement of August 10, 2022, the Board has now declared a 1.0 cent fully franked dividend comprising a 0.5 cent special dividend and a 0.5 cent interim dividend.

The dividend will be paid on October 05, 2022.

An Appendix 3A for the dividend follows this announcement.

BOARD UPDATE AND CHAIRMAN REMUNERATION

Following the divestment of Pegasus, and continued progression of the investment strategy of H&G, the Board and Chairman Alexander Beard have agreed to vary the terms of Mr Beard's role as Chairman. Initially upon appointment as Chairman in November 2020 Mr Beard undertook to provide an initial 12 month's service as Chairman for the total remuneration of $50,000 per annum plus superannuation.

Since that time Mr Beard has assumed the role of Executive Chairman and provided extensive services and expertise to H&G without variation of the original terms. With H&G now significantly progressed in its investment strategy and with a strong and diversified balance sheet, the Board considers that it is now an appropriate time to reset and formalise the ongoing role and remuneration of the Executive Chairman.

Key revised agreed terms include:

Commencement Date:	New arrangements will apply from September 2022
Term:	Ongoing until terminated by either party
Remuneration:	$300,000 per annum, plus minimum statutory superannuationcontributions, subject to annual review.
Incentives:	Nil – noting that Mr Beard is already a major holder of shares andoptions in H&G.
Notice Period:	Either party may terminate the employment with six months' notice.The Company may terminate the employment without notice in certaincircumstances for serious breaches or otherwise by payment in lieu ofnotice.

For more information, please contact Executive Chair, Sandy Beard on 0412 308 263

ABOUT H&G

H&G is a diversified investment company with a focus on active management and driving shareholder returns through investing in a broad range of opportunities across private equity, ASX listed equities, funds management, real property, debt funding and other alternative investments. We seek to become a trusted partner of choice that aims to solve our partners' problems, identifying and pursuing opportunities that benefit all parties.