USCOM LIMITED — Capital/Financing Update 2021

Nov 21, 2021

ASX ANNOUNCEMENT

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22 November 2021

NOTICE GIVEN UNDER SECTION 708AA(2)(f) OF THE CORPORATIONS ACT

This notice is given by Uscom Limited ACN 091 028 090 ( Company ) under section 708AA(2)(f) of the Corporations Act 2001 (Cth) ( Corporations Act ) in relation to its proposed non-renounceable rights issue offer of new shares (each, a New Share ) to existing eligible holders of the Company's shares ( Rights Issue ).

In connection with the Rights Issue, the Company advises that:

• (a) the Company will offer the New Shares for issue without disclosure to investors under Part 6D.2 of the Corporations Act;

• (b) this notice is being given by the Company under section 708AA(2)(f) of the Corporations Act;

• (c) as at the date of this notice, the Company has complied with:

• i. the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

• ii. section 674 of the Corporations Act;

• (d) as at the date of this notice, there is no excluded information of the type referred to in sections 708AA(8) or 708AA(9) of the Corporations Act; and

• (e) the potential effect the Rights Issue will have on the control of the Company and the consequences of that effect, will depend on a number of factors, including investor demand and the level of existing shareholdings. However, given the structure of the Rights Issue as a pro rata offer and the current level of holdings of substantial holders (based on their substantial holder notices filed with the Company on or prior to the date of this notice), and although the Rights Issue is not underwritten, the Rights Issue is not expected to have a material (or adverse) effect or consequence on the control of the Company. (Section 2.8 of the Offer Booklet to be released to the ASX on 26 November 2021 sets out further detail in relation to the anticipated control implications of the Rights Issue on the Company).

Further details regarding the Rights Issue will be included in the Offer Booklet which is expected to be sent to the eligible shareholders on or before 26 November 2021.

This notice was approved by the board of directors of the Company.

Yours faithfully Brett Crowley Company Secretary

Uscom Limited (ABN 35 091 028 090) Suite 2, Level 8, 66-74 Clarence Street, Sydney NSW 2000 T +612 9247 4144 F +612 9247 8157 www.uscom.com.au