SUPERLOOP LIMITED — Capital/Financing Update 2019

Sep 25, 2019

ASX ANNOUNCEMENT

26 September 2019

Successful completion of Institutional Placement and Institutional Entitlement Offer

Highlights

• Superloop receives commitments under the Institutional Placement and Institutional Entitlement Offer to raise approximately $72 million.

• The book-build for the Institutional Placement and Institutional Entitlement Offer was strongly supported by new and existing institutional and sophisticated investors from Australia and overseas.

• The Retail Entitlement Offer will open on 30 September 2019 and is expected to close on 14 October 2019.

Equity Raising

Superloop Limited ACN 169 263 094 (ASX: SLC) ( Superloop ) is conducting a fully underwritten ~$92.2 million equity raising via a:

• fully underwritten two-tranche placement to institutional investors to raise approximately $57.6 million ( Institutional Placement ); and

• fully underwritten 1 for 6 accelerated non-renounceable entitlement offer of fully paid ordinary shares in Superloop ( New Shares ) to raise approximately $34.6 million ( Entitlement Offer ),

(together, the Equity Raising ). The Entitlement Offer comprises an accelerated institutional component ( Institutional Entitlement Offer ) and a retail component ( Retail Entitlement Offer ).

A total of approximately 48 million new Superloop shares will be issued to successful applicants under the first tranche of the Institutional Placement and the Institutional Entitlement Offer at an issue price of $0.82 per new Superloop share ( Offer Price ). Those funds, totalling approximately $39.4 million, will be available to Superloop on or about 1 October 2019.

Proceeds from the fully underwritten Retail Entitlement Offer will be available to Superloop on or about 18 October 2019.

The issue of shares under the second tranche of the Institutional Placement remains subject to shareholder approval being obtained at Superloop's 2019 annual general meeting, which is scheduled to be held on Wednesday, 30 October 2019.

The Institutional Entitlement Offer was supported by existing institutional shareholders, with take up by eligible institutional shareholders of over 85%.

The institutional shortfall, comprised of the entitlements not taken up by eligible institutional shareholders along with the entitlements of ineligible institutional shareholders, and the Institutional Placement, attracted demand from new and existing institutional and sophisticated investors, with demand significantly in excess of the amount sought to be raised by Superloop.

As a result of the successful completion of the Institutional Placement and the Institutional Entitlement Offer, Superloop shares will recommence normal trading on an ex entitlement basis from the opening of the market today, 26 September 2019.

Under the Retail Entitlement Offer, eligible retail shareholders will be able to subscribe for 1 New Share for every 6 existing Superloop shares held at 7.00pm (Sydney time) on 26 September 2019 at the Offer Price.

Eligible retail shareholders will receive an information booklet, including a personalised entitlement and acceptance form, which will provide further details of how to participate in the Retail Entitlement Offer. A copy of the information booklet will be lodged today with ASX and is due to be despatched (along with the personalised entitlement and acceptance forms) on 1 October 2019. The Retail Entitlement Offer opens on 30 September 2019, and closes at 5.00pm (Sydney time) on 14 October 2019.

Canaccord Genuity (Australia) Limited ACN 075 071 466 and Morgans Corporate Limited ACN 010 539 607 are acting as joint lead managers and underwriters to the Equity Raising.

Additional information

Investor enquiries: Email: investor@superloop.com