ZIMI LIMITED — Capital/Financing Update 2020

Jan 15, 2020

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Top up Placement to raise an additional $0.25 million

ASX RELEASE

16[th] January 2020

Highlights

• Quantify to raise a further $0.25 million due to overwhelming interest for sub-underwriting of the $1.5 million Entitlement Issue

• The new shares will be issued on the same terms and conditions as the fully underwritten Entitlement Issue announced on 13 January 2020

Quantify Technology Holdings Limited (ASX: QFY ) (“ Quantify ” or the “ Company ”) is pleased to announce that it will be undertaking an additional capital raising of $0.25 million through its appointed Lead Manager, Pinnacle Corporate Finance Pty Ltd (“ Pinnacle ”). The placement of 62,500,000 ordinary fully paid shares (together with 62,500,000 free attaching options) will be made to sophisticated and professional investors under the Company’s available placement capacity under ASX Listing Rule 7.1.

The new securities, will be issued on the same terms and conditions as the recently announced $1.5 million fully underwritten Entitlement Issue (refer ASX announcement dated 13 January 2020). It is proposed that the new Shares will be issued on 24 January 2020 post the record date for the Entitlement Issue, as such, the new Shares will not be entitled to participate in the Entitlement Issue.

For further particulars refer to the Appendix 3B lodged with ASX today.

Quantify CEO Brett Savill commented:

“We are delighted that demand has been so strong that we are able to raise additional funds. The sales order pipeline is strong. On top of exclusive three-year deals with leading developers[1] , we will be appearing on the Channel Nine renovation show, Ready Set Reno, which is due to begin airing in February. This week, we also announced we have achieved global certification on a new product to broaden our product range[2] . Finally, the cost reduction that has taken place in 2019 has left us with a streamlined cost structure[3] . We are now relying more on a range of outsourced suppliers who have helped us reduce costs as well as having the capacity to scale up when required.’

-ENDS-

1 Source: See example https://wcsecure.weblink.com.au/pdf/QFY/02178865.pdf

2 Source: https://www.quantifytechnology.com/quantify-expands-its-product-line-with-the-qblind/

3 Source: https://wcsecure.weblink.com.au/pdf/QFY/02192277.pdf

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Further Information:

Investor Relations & Media Enquiries Caelie Jones E: caelie.jones@quantifytechnology.com| P: +61 (8) 6254 0200

About Quantify Technology

Quantify Technology is an Australian-based company, focused on making lives better in homes, workplaces, and communities with their Internet of Things (IoT) smart home technology. Their qDevices replace standard power outlets and light switches and can be controlled by voice, app and touch. Quantify has the opportunity to be the first truly mass-market smart home product because of its simplicity, the innovative nature of its technology, and its limitless platform. Its strategic priorities are to maximise sales domestically, secure distribution internationally and strengthen its platform.

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