TZ LIMITED — Capital/Financing Update 2021

May 25, 2021

Level 2, 40 Gloucester Street, The Rocks Sydney NSW 2000 Australia Telephone (+61) 2 9137 7300

www.tz.net

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TZ Limited ABN 26 073 979 272

26 May 2021 ASX Announcement

TZ BOLSTERS ANNUITY REVENUE WITH NEW HOSTING AND SERVICES DEAL WITH DSV

Highlights:

• Major upgrade of DSV’s Locker IT infrastructure secured with 3 year fully managed service deal valued at over $1 million over the term.

• The deal demonstrates TZ’s focus on building its annuity income through the offering of new recurring revenue services to its Smart Locker customers.

• DSV is one of the largest global transport and logistics companies and in South Africa, owns a network of 450 locker banks supporting its last mile delivery and e-commerce strategies.

TZ Limited (ASX: TZL) (the Company), a leader in access control, smart lock and self-serve locker bank systems is pleased to confirm it has finalised terms for a $1 million hosting and services agreement over 36 months with DSV South Africa.

The services, channelled through local partner Ricoh South Africa, underpins the Company’s business with DSV South Africa, which has purchased about $3 million in new Locker Banks this fiscal year alone.

The deal will involve TZ providing a high availability hosted infrastructure, system monitoring, network management, software subscription and maintenance services for DSV’s network of 450 Locker Banks (100 TZ upgraded ByBox Locker Banks and 350 TZ Locker Banks supplied over the last three years).

This demonstrates TZ’s focus on building its annuity revenues through the offering of on-going services such as software subscription together with new hosting, monitoring and maintenance services to its customer base. It also shows the Company’s shift from previous perpetual licensing strategies to subscription-based fully managed cloud solutions. This deal represents a 25% increase in TZ’s annual recurring revenue from South Africa.

TZ Limited CEO and MD Scott Beeton said: “DSV is a global leader in fulfilling customer needs for transport and logistics services. With 56,000 employees and offices in 80 countries it is growing quickly and among the most profitable logistics companies in the sector.

Level 2, 40 Gloucester Street, The Rocks Sydney NSW 2000 Australia Telephone (+61) 2 9137 7300

www.tz.net

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TZ Limited ABN 26 073 979 272

DSV South Africa’s decision to extend and deepen its relationship with TZ Limited, clearly demonstrates that TZ provides cutting-edge software and services. It is another example of existing clients returning to TZ for deeper more meaningful relationships and where most of the company’s growth is coming from. As global economies emerge from the COVID-19 pandemic, there is a heightened demand for TZ’s access control, smart lock and self-serve locker bank solutions.”

The services deal with DSV and the growth in the US pipeline announced last week, reinforces TZ’s concerted efforts to expand its annuity service offerings with existing customers, substantially grow its installed user base and to access the broader market through new distribution partnerships.

Rights Issue

On 28 April 2021 TZ Limited announced a Non-Renounceable Rights Issue. The Rights Issue will raise up to $7.06 million (before costs) with proceeds to pay down debt. The Closing Date for the Rights Issue is 7 June 2021.

Shareholders can request an electronic copy of their personalised Entitlement Offer - - - application form at - https://tz.investorportal.com.au/request rights issue form/

Join a briefing

Join Scott Beeton, CEO and MD, for an investor briefing, where he will discuss TZ Limited’s A-list client base, the growing e-commerce market and how TZ’s marketleading software is uniquely positioned as a category leader. Click here to register for a briefing - https://tz.investorportal.com.au/webcast/

For further information, please contact:

Warrick Lace Scott Beeton Investor Relations CEO & Managing Director +61 404 656 408 +61 400 252 425 Warrick.lace@reachmarkets.com.au s.beeton@tz.net

This announcement has been approved by the board of directors.

For additional information on TZ Limited, please visit www.tz.net