SPENDA LIMITED — Capital/Financing Update 2021

Nov 21, 2021

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ASX RELEASE

22 NOVEMBER 2021

CIRRALTO SIGNS BINDING AGREEMENT TO PROVIDE FUNDING SERVICES TO BEVERAGE TRADING PLATFORM, EBEV

Key Highlights

• Cirralto has signed a binding agreement with eBev to roll out funding services to eBev’s trading network.

• eBev is Australia’s largest online wholesale beverage ordering platform, connecting more than 350 venues, 700 suppliers and 12,000 licensed premises to facilitate more efficient trade between buyers and sellers within the beverage industry.

• eBev has 12,000 buyers in its network, initially services will be rolled out with a A$1m limit being 10% of expected full facility limit of $10m. The initial funding limit of A$1m is intended to be expanded to a A$3m funding limit at least 3 months after initial drawdown and subject to review, and subsequently up to a A$10m funding limit subject to review.

• The eBev platform is synergistic to Cirralto’s Spenda ecosystem in its ability to connect buyers and sellers, we see this as the first step in an ongoing relationship to provide lending and payments services to eBev’s network.

Cirralto Limited ( ASX: CRO, “Cirralto” or “the Company” ) is pleased to announce that it has signed a binding funding services agreement ( “agreement” ) with eBev.com Pty Ltd (“ eBev ”) to provide lending services through their online trading network.

The funding will be provided by Cirralto’s wholly owned subsidiary, Invigo Pty Ltd ( “Invigo” ). The services are expected to go live within 10 days and are subject to

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the completion of the Company’s standard internal provisioning processes including conditions precedent such as provision of directors guarantees.

The agreement provides for an initial facility term of 12 months and is subject to a 30-day notice period. eBev is being charged at the Company’s standard facility rates. Actual revenue is dependent on usage and cannot be determined at this stage, however the Company expects revenue generated under this agreement to be material. Cirralto’s revenue will be derived at an effective rate of 1.35% of eBev’s funded transactions.

The agreement allows for the initial provision of debtor finance services to eBev, to enable them to facilitate the expansion of their early payment’s capabilities to their suppliers. This is expected to enable growth for eBev and its connected network. eBev has also made application for Cirralto to deliver payment services through their trading platform.

eBev’s network of 12,000 buyers purchase more than A$150m of product per annum through the platform and Cirralto will provide funding against these, initially up to a level of A$1m. The agreement provides for the services to be expanded to a A$3m funding limit at least 3 months after initial drawdown and subject to review and then up to A$10m funding limit, subject to review. The funding period is 90 days from invoice dates.

The partners intend to build upon this initial agreement, to include the provision of Buy-Now, Pay-Later (BNPL) and payment gateway services, which will include Cirralto processing all payments made through eBev’s network. The Company will update the market in due course, if and when these services are rolled out.

This agreement is another example of the Company’s node-spoke strategy, contracting marketplace nodes to provide payments and lending services to a vast network of retailers where we blend finance solutions to both buyer and seller to maximise liquidity for each end of the supply chain.

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Cirralto and eBev are synergistic businesses with a focus on improving the buy/sell cycle for B2B businesses. eBev has achieved significant growth since launching in 2015 making it Australia’s largest online beverage ordering platform.

Commenting on the initiative, Adrian Floate, CEO of Cirralto, said “This agreement is another example that showcases the appetite for our B2B finance products. The resources we have invested to build out our payments and lending infrastructure means we are now well-positioned to satisfy a vast scope of demand.

“Given the similarities in business ideologies between eBev and Cirralto, I see this agreement being the first step in a growing relationship.”

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About eBev

Founded in 2015, eBev is Australia’s largest independent online ordering and financing platform for the Beverage Trade. With over 65,000 products from 700 suppliers, eBev's is a 'one-stop-shop' for everything from beer, wine, and spirits to the burgeoning non-alcoholic category. Simplifying the ordering process for thousands of hospitality venues whilst reducing business administration for both venues and suppliers sees over $150 Million’s worth of orders go through the platform a year. eBev Trade now further empowers our suppliers with simplified credit functions and guaranteed payment within 3 days. https://www.ebev.com/

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About Cirralto

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Cirralto Limited (ASX: CRO) is a transaction services business supplying industries with a broad range of B2B payment services, digital trading software and integrated solutions. Our goal is to convert EFT payments to card payments utilising the BPSP engagement coupled with our payments collaboration framework. Our competitive advantages deliver customers end-to-end e-invoicing integration, rapid ordering, digital trust and automated reconciliation.

Cirralto supplies its customers a recipe of integrated software to create a vertical market standard operating environment (SOE) that enables the effective and seamless transfer of data from multiple, disparate software systems in one standardised technology solution, such as SpendaRetail. Cirralto has licensing agreements with third-party software vendors that enable it to provide integrated SOE solutions to its customers.

For investors seeking information on the Company’s activities that relate to marketing, customer events and other acknowledgement of customer activities, this information will be posted to the Company’s news section of the website and on social media channels with the handle #getSpenda, active on Twitter, LinkedIn, Instagram and Facebook.

For more information, see https://www.cirralto.com.au/

This announcement has been authorised by the Board.

Investor Enquiries

Please email: shareholders@cirralto.com.au