SIMBLE SOLUTIONS LIMITED — Capital/Financing Update 2020

Mar 26, 2020

ASX ANNOUNCEMENT

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27 March 2020

Investor Update, COVID-19 and SPP Last Day

Simble Solutions Limited ( Simble or the Company ) is pleased to provide a shareholder update regarding the Company’s financial position, an assessment of COVID-19 on our operations and the Share Purchase Plan (SPP).

Financial Position

This week the Company announced an equity placement to raise $375,000 by the issue of 20.83 million fully paid ordinary shares at a price of $0.018.

The raising is vitally important to the Company at this time. It caps off the financial restructuring process that has been underway since October 2019 to streamline the Company’s structures and operations, and to reduce its cost base.

We continue to see exciting new business opportunities in the mobility and energy software as a service (SaaS) markets and the funds provide the Company with the working capital and funding to exploit these opportunities for the balance of this year and into the future,

Contributors to the placement included Dr Daniel Tillett, Founder and CEO of Nucleics, UCR Consultants Limited, an existing Simble UK partner as well as Mr Fadi Geha, Founder & Executive Director.

Dr Daniel Tillett is the founder and CEO of Nucleics (nucleics.com), a private Australian biotechnology company producing and selling world leading DNA sequencing software to the Genomics industry. Nucleics SaaS tools are in use in more than 30 countries and over 250 companies and institutions. Dr Tillett has extensive commercial experience over the last 20 years in the tech industry in project management, sales and marketing, IP management, fund raising and start-up investing.

Dr Tillett commented on the Placement: “As an experienced and long-term investor in early stage game-changing technology companies, I am excited to participate in Simble’s mission to help businesses and households better manage and reduce their energy costs.”.

Mr Darrel Brookes, Founder and Managing Director of UCR Consultants commented on the placement: “As a distribution partner of Simble in the UK energy broker market, I can see the exciting opportunities the company and its flagship product SimbleSense, have ahead. I am pleased to be able to participate in this opportunity not just as a business partner, but also as a shareholder”.

Several other existing sophisticated shareholders who have consistently and reliably supported the ongoing funding of the company also participated in the Placement.

COVID 19 – Impact Assessment

With the coronavirus disease (COVID-19) outbreak officially declared a pandemic by the World Health Organisation, we are mindful of the potential impact on the Company, its staff, customers and other stakeholders.

Simble Solutions Limited Level 2, 383 George Street Sydney NSW 2000

P +61 2 8208 3366 E hello@simble.io

ABN: 17 608 419 656

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Amid all this uncertainty, the Company takes this opportunity to update you on how we are responding to what has quickly become an unprecedented worldwide crisis.

COVID-19 is an evolving global crisis which is changing daily and we are closely monitoring the situation and undertaking daily reviews of the measures and strategies we have in place to ensure we are:

• Protecting the health, safety and wellbeing of our employees

• Providing remote access for all our staff so they can work from home

• Minimising any potential commercial impact resulting from business disruption and market volatility

• Continuing regular customer service and support for our partners and customers

While overall economic activity in key markets will undoubtedly slow in coming months, indicators from our key customers and partners suggest that the underlying demand for our innovative energy management solutions remains strong, and we remain confident that we will be able to convert existing and new business opportunities into material customer contracts.

SPP Closes Today

Shareholders are encouraged to support the Share Purchase Plan ( SPP ) which closes today, Friday, 27 March 2020 at 5.00 pm (AEDT).

Eligible shareholders are able to subscribe for up to $30,000 in fully paid ordinary shares in Simble at a purchase price of $0.016 per share.

To subscribe for shares on this last day please pay by BPAY[®] , using your personalised BPAY[®] number before 5.00 pm (AEDT). Your personalised BPAY[®] number is on your personalised application, which can be accessed via https://www.investorserve.com.au/ ; or phone 1300 737 760 (in Australia) or +61 2 9290 9600 (International).

ENDS

For more information please contact:

Ronen Ghosh

Chief Executive Officer M: +61 408 505 483 E: ronen@simble.io

This ASX announcement has been authorised on the Board of Simble Solutions Limited

About Simble

Simble Solutions (ASX:SIS) is an Australian software company focused on energy management and Internet of Things solutions. The Simble Energy Platform or ‘SimbleSense’ is an integrated hardware and real-time software solution that enables businesses to visualise, control and monetise their energy systems. The Company’s Software as a Service

Simble Solutions Limited Level 2, 383 George Street Sydney NSW 2000

P +61 2 8208 3366 E hello@simble.io

ABN: 17 608 419 656

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(SaaS) platform has Internet of Things (IoT) capabilities and empowers enterprises and consumers to remotely automate energy savings opportunities to reduce their energy bill. Simble operates in the SME and residential market and targets the distribution of its platform through channel partners. Simble has an international presence with offices in Sydney(Australia), London (UK) and Da Nang (Vietnam). More information: www.simblegroup.com

Simble Solutions Limited Level 2, 383 George Street Sydney NSW 2000

P +61 2 8208 3366 E hello@simble.io

ABN: 17 608 419 656