SCHOOLBLAZER LIMITED — Capital/Financing Update 2022

Sep 5, 2022

HANCOCK & GORE

ASX ANNOUNCEMENT

FUNDS MANAGEMENT GROWTH UNDER H&G HIGH CONVICTION LIMITED IPO

6th September 2022

Company Announcements Office

Australian Securities Exchange

Authorised by the Board for immediate release

FUNDS MANAGEMENT GROWTH UNDER H&G HIGH CONVICTION LIMITED IPO

Hancock & Gore Limited (H&G) is proposing to expand its funds under management through an IPO and proposed ASX listing of H&G High Conviction Limited (proposed ASX code: HCF), an investment company managed by H&G's wholly owned subsidiary, H&G Investment Management Ltd (H&GIM).

Growing funds under management is a key strategic objective for H&G.

HCF was established in June 2022 with the rollover of circa $12 million of assets from H&G High Conviction Fund (HCFT - a unit trust managed by H&GIM since 2007) combined with an additional $4 million invested by Perennial Investment Management Limited, H&G and H&G Executive Chairman Sandy Beard.

HCF currently has assets under management of approximately $17 million and is targeting to raise up to a further $20 million (with ability to accept over subscriptions of up to $10 million).

HCF's investment strategy will remain consistent with HCFT, pursuing active investment in a concentrated portfolio of ASX-listed micro-cap companies. In the year to June 2022, HCFT returned 13.3% (pre-tax, after all fees), compared to the ASX Small Ordinaries Accumulation Index's negative 18.2% and ASX All Ordinaries Accumulation Index's negative 7.4%. Since inception HCFT outperformed the ASX Small Ordinaries Accumulation Index by 8.2% p.a. and ASX All Ordinaries Accumulation Index by 3.5% p.a. (pre-tax, after all fees)¹.

H&GIM will receive management fees for acting as HCF's investment manager and, in addition, performance fees based on the performance of HCF's investment portfolio.

Morgans Corporate Limited is the lead manager to the IPO.

The offer opened on 5 September 2022 and is expected to close on 30 September 2022. Share offers are being made under a Prospectus lodged with the ASIC on 26 August 2022. The Prospectus and HCF's Target Market Determination is available at HCF's website at www.highconviction.com.au. Any person who wishes to participate in the IPO should consider the Prospectus in its entirety and Target Market Determination in deciding whether to participate in the IPO and must complete an application form in or accompanying the Prospectus.

¹ All return figures comprise HCFT performance for the period until 23 June 2022, plus the 7 days to 30 June 2022 of HCF returns following the rollover from HCFT.

HANCOCK AND GORE LIMITED ACN 009 657 961 | ASX:HNG

Suite 803, 25 Bligh Street, Sydney NSW 2000 AUSTRALIA

www.hancockandgore.com.au

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HANCOCK & GORÉ

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

Please note this is not intended to be investment advice.

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 and 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.

HANCOCK AND GORE LIMITED ACN 009 657 961 | ASX:HNG

Suite 803, 25 Bligh Street, Sydney NSW 2000 AUSTRALIA

www.hancockandgore.com.au