SUPERLOOP LIMITED — Capital/Financing Update 2019

Mar 24, 2019

ASX ANNOUNCEMENT

25 March 2019

Successful completion of Retail Entitlement Offer

Highlights

• Successful completion of Retail Entitlement Offer, raising approximately $8.4 million.
• Strong support from retail shareholders, with total applications received leading to the offer being considerably oversubscribed.
• Entitlement Offer raised a total of approximately $15.87 million.
• New Shares under the Retail Entitlement Offer to be issued on 27 March 2019.

Equity Raising

On 25 February 2019, Superloop Limited ACN 169 263 094 (ASX:SLC) (Superloop) announced a fully underwritten ~$30.87 million equity raising via a:

• placement to institutional investors to raise $15 million (Institutional Placement); and
• an accelerated non-renounceable entitlement offer of fully paid ordinary shares in Superloop (New Shares) to raise approximately $15.87 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).

The Equity Raising was fully underwritten by Morgans Corporate Limited ACN 010 539 607.

The Institutional Placement and the Institutional Entitlement Offer settled successfully on 5 March 2019, raising approximately $22.47 million.

Superloop today announces that the Retail Entitlement Offer closed at 5.00pm (Sydney time) on 20 March 2019, raising approximately $8.4 million. Approximately 6.72 million New Shares will be issued to successful applicants on 27 March 2019.

Eligible retail shareholders applied for approximately $16.1 million in New Shares (including under the top-up facility).

Scale back of top-up facility applications

The Retail Entitlement Offer included a top-up facility under which eligible retail shareholders who took up their full entitlement were invited to apply for additional New Shares under the Retail Entitlement Offer from a pool of those not taken up by other eligible retail shareholders. The shortfall under the Retail Entitlement Offer has been allocated to eligible retail shareholders under the top-up facility as determined by Superloop in consultation with the Underwriter.

It has been necessary to scale back applications for New Shares under the top-up facility (Top-Up Shares). Under the scale back policy, each applicant who applied for Top-Up Shares will receive Top-Up Shares up to a maximum of 1.25 times their rights available under the Retail Entitlement Offer, with any resulting fractions to be rounded up.

Refunds in respect of scaled back applications under the top-up facility will be despatched to retail shareholders on or around 29 March 2019.

The issue of New Shares under the Retail Entitlement Offer (including Top-Up Shares) will occur on 27 March 2019, with the despatch of holding statements to occur on 29 March 2019. New Shares issued under the Retail Entitlement Offer are expected to commence trading on ASX on 28 March 2019. Shareholders who want to trade their Top-Up Shares prior to receiving their holding statement should confirm their allocation before doing so.

Additional information

Investor enquiries:

Telephone: +61 7 3905 2400 Email: investor@superloop.com

Signed for and on behalf of Superloop

Louise Bolger Company Secretary Superloop Limited

Important notices

This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal. The securities referred to in this document have not been and will not be registered under the United States Securities Act of 1933 (the 'US Securities Act'), or under the securities laws of any state or other jurisdiction of the United States and may not be offered or sold, directly or indirectly, within the United States, unless the securities have been registered under the US Securities Act or an exemption from the registration requirements of the US Securities Act is available.

This document may not be distributed or released in the United States.

This announcement contains certain 'forward-looking statements' within the meaning of the securities laws of applicable jurisdictions. Forward-looking statements can generally be identified by the use of forward-looking words such as 'may,' 'should,' 'expect,' 'anticipate,' 'estimate,' 'scheduled' or 'continue' or the negative version of them or comparable terminology. Any forecasts or other forward looking statements contained in this announcement are subject to known and unknown risks and uncertainties and may involve significant elements

of subjective judgment and assumptions as to future events which may or may not be correct. There are usually differences between forecast and actual results because events and actual circumstances frequently do not occur as forecast and these differences may be material. Superloop does not give any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements in this announcement will actually occur and you are cautioned not to place undue reliance on forward-looking statements.

About Superloop

Superloop's vision is to be the most trusted enabler of connectivity and managed services in Asia Pacific.

The Group owns and operates over 640 km of carrier-grade metropolitan fibre networks in Australia, Singapore and Hong Kong, connecting more than 275 of the region's key data centres and commercial buildings.

Superloop has constructed a core network in Singapore connecting major data centres, key enterprise buildings and cable landing stations. The network includes a low-latency, diverse loop to the Singapore Stock Exchange (SGX) for secure, real-time data transactions. It is continually expanding with further diverse connections to strategic sites being constructed.

In Hong Kong, Superloop has established a 110 km fibre optic network to initially connect 30 strategic sites including the Hong Kong Stock Exchange data centre. The Company has constructed TKO Express, the first submarine cable to connect the traditional carrier hotels located in Chai Wan on Hong Kong Island and the data centre campus located at Hong Kong Science and Technology Park's Tseung Kwan O Industrial Estate on the mainland, providing much needed physical diversity and a low latency path between Hong Kong's major finance and technology hubs. TKO Express is the world's largest fibre core count subsea cable system.

Superloop also owns and operates an advanced, large-scale fixed wireless broadband network, including more than 300 wireless PoPs, delivering business-grade services at speeds up to 1Gbps.

Submarine cable infrastructure provider, SubPartners, will expand Superloop's trans-Australian and international capacity, giving the Company ownership of international submarine cable capacity as a member of the INDIGO consortium which is constructing the INDIGO West cable system (Singapore to Perth) and the INDIGO Central cable system (Perth to Sydney).

Superloop**+** provides a diverse range of ICT services to small-to-medium enterprises, government, retail, mining and education customers across Australia. Services include communications, network infrastructure, Cloudbased solutions and managed services. The segment includes CyberHound, a provider of cyber safety solutions to primary and secondary schools.

Superloop Broadband provides residential and campus broadband services including residential fixed wireless and NBN internet services as well as connectivity services for hotels, student accommodation sites and schools.

For more information, visit: www.superloop.com.