VINYL GROUP LTD — Capital/Financing Update 2024

Apr 30, 2024

ASX Release

SONGTRADR INCREASES INVESTMENT IN VINYL GROUP

Melbourne, Australia , 1 May, 2024: Vinyl Group Ltd (ASX: VNL), Australia’s only ASX-listed music Company, today announces that Songtradr, Inc. (Songtradr) has issued a conversion notice for a portion of its Tranche #2 convertible note, increasing its beneficial ownership in Vinyl Group to 19.95%.

Tranche #2 has a principal balance of $3,000,000 and further interest accrued for the period. The resulting conversion means Songtradr will convert a principal balance of $1,629,351 into 77,588,162 ordinary shares in Vinyl Group at the conversion price of $0.021 per share. Songtradr still retains the remaining Tranche #2 principal and interest balance of $1,812,673 that is not due until 29 June 2025. The conversion also gives Songtradr the right to exercise the attaching options to the note for the amount of the conversion notice of $1,629,351 until 29 June 2025.

Paul Wiltshire, CEO of Songtradr commented “We’re very impressed with the strategic progress and discipline Josh and the team at Vinyl Group have shown over the last year. Songtradr intends to remain a long term shareholder and we are very confident about the path ahead for Vinyl Group.”

Vinyl Group CEO Josh Simons added “This latest conversion reaffirms Songtradr’s ongoing support for Vinyl Group, our strategic direction, execution and growth prospects.”

Authorisation and Additional Information: Vinyl Group Investor Relations: This announcement was authorised by the Board E: investors@vinyl.group of Vinyl Group Ltd

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ABOUT VINYL GROUP

Vinyl Group is the heartbeat of an equitable music world, providing tech solutions that connect and give credit to the creator economy. The Company’s diverse portfolio has touchpoints across all corners of the global music ecosystem, empowering everyone from creators to consumers. Vinyl.com offers a world-class ecommerce experience including over 50K titles for fans to support their favourite artists. Vampr is a leading dedicated social-professional networking platform and talent marketplace, allowing 1.3M creators to discover collaborators and monetise their work in over 180 countries. Jaxsta is the world’s largest and only database of official music credits with over 380M verified credits to streamline revenue opportunities for businesses in the music industry. The Brag Media is Australia’s largest creator of premium youth content and events and publishes iconic titles including Rolling Stone AU/NZ, Variety Australia, TheBrag.com, The Music Network, Tone Deaf, and more.

Vinyl Group Ltd | 11 Wilson Street, South Yarra VIC 3141 | ABN 15 106 513 580 | ASX: VNL