XENITRA LIMITED — Capital/Financing Update 2021

Dec 9, 2021

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10 December 2021

Aumake furthers store reopening and cost restructuring strategies

HIGHLIGHTS

• Aumake continues to reopen additional store locations to coincide with the easing of COVID-19 restrictions

• Five (5) stores have now reopened which are poised to start receiving international students who have already begun arriving in Australia

• Aumake is focused on further streamlining operational costs in line with a reinvigorated capital light business strategy

Sydney, Australia - Aumake Limited (ASX:AUK, Aumake, or the Company), is pleased to provide an update on current operational growth initiatives being rolled out as the Company’s physical store network reopens.

Continued reopening of physical store network

Aumake has recently opened its Market City store in Sydney’s Central Business District culminating in five (5) physical retail stores now reopened, which are servicing its local Australian customers. The Company is pleased to advise that since the reopening a number of Aumake’s physical stores in November 2021 (refer ASX 27 November 2021), the Company has observed an increase in foot traffic and instore revenue.

Aumake is also positioned to start receiving the international students who have been permitted re-entry to Australia from 6 December 2021. Under the current Australian Federal Government guidelines, another 150,000 international students will be allowed to return to study and live in Australia from 15 December 2021.

Aumake’s distribution agreement with MINISO Australia (refer ASX 2 December 2021) is also progressing well with similar observations of increasing foot physical traffic and revenue from the distribution of MINISO and Aumake inventory. This partnership creates a significant revenue opportunity for the Company coupled with a reduction in overhead costs.

Streamlining operation costs

Aumake has further streamlined its operational cost base via a restructuring of labour costs, including a 65% decrease in director fees in since August 2021. In addition, following Aumake’s recent capital raise (refer ASX 17 November 2021), the Company is in a strong position to drive its growth which focuses on utilizing Aumake’s most profitable brick and mortar stores and third-party stores to direct foot traffic to the e-commerce platform.

Aumake Managing Director, Joshua Zhou, commented:

“We are strongly-positioned to wrap up this calendar year and begin 2022 on a transformational note as we welcome back international students to our physical store network and upgraded e-commerce platform. The addition of new Australian & New Zealand brands and products to our inventory combined with our partnerships with third-party retailers such as MINISO has bolstered our capital light business approach into the new year.”

ENDS

Aumake Limited ABN 79 150 110 017 T +61 2 8330 8844 | Suite 1.01, 22–36 Mountain Street, Ultimo, NSW 2007, Australia

ASX:AUK | Aumake.com.au 10 December 2021

This announcement has been authorised for release by the Board of Aumake Limited.

Corporate Media Enquiries Keong Chan Justin Kelly Executive Chairman Media + Capital Partners T: +61 2 8330 8844 M: +61 408 215 858 keong.chan@Aumake.com.au justin.kelly@mcpartners.com.au

About Aumake Limited

Aumake Limited (ASX:AUK) operates a scalable business model that ultises physical stores (through a combination of key Aumake operates stores and a network of third-party stores) and a social e-commerce online platform that facilitates the promotion of new brands and products to Asian markets.

Aumake Limited ABN 79 150 110 017 T +61 2 8330 8844 | Suite 1.01, 22–36 Mountain Street, Ultimo, NSW 2007, Australia

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