Dropsuite : Notification regarding unquoted securities - DSE

Notification of Issue, Conversion or Payment up of Unquoted Equity SecuritiesAnnouncement Summary

For personal use only

Entity name DROPSUITE LIMITED

Date of this announcement Friday April 22, 2022

The +securities the subject of this notification are:

+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

Total number of +securities to be issued/transferred

Total number of

Refer to next page for full details of the announcementNotification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Notification of Issue, Conversion or Payment up of Unquoted Equity SecuritiesPart 1 - Entity and announcement details

For personal use only

1.1 Name of entity DROPSUITE LIMITED

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type ACN

1.3 ASX issuer code DSE

1.4 The announcement isNew announcement

1.5 Date of this announcement 22/4/2022

Registration number 008021118

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

Part 2 - Issue details

2.1 The +securities the subject of this notification are:

+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

For personal use only

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:has an existing ASX security code ("existing class")

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

Part 3B - number and type of +securities the subject of this notification (existing class) where issue has not previously been notified to ASX in an Appendix 3B

For personal use only

ASX +security code and description

DSEAF : PERFORMANCE RIGHTS

Date the +securities the subject of this notification were issued 12/4/2022

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class

Yes

Were any of the +securities issued to +key management personnel (KMP) or an +associate?

Yes

Provide details of the KMP or +associates being issued +securities.

Name of KMP

Name of registered holder

Number of +securities

Bill Kyriacou

Bill Kyriacou

100,000

Manoj Kalyanaraman

Manoj Kalyanaraman

3,200,000

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the termshttps://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02366484-6A1029557?access_token=83ff96335c2d45a094df02a206a39ff4

Any other information the entity wishes to provide about the +securities the subject of this notification Performance Rights will vest over 3 years, expiring 31 March 2025 with following key milestones:

• - 30 day VWAP of share price of at least $0.25 in year 1 / 12 months of employment (25%) - 2,850,000

• - 30 day VWAP of share price of at least $0.32 in year 2 / 24 months of employment (35%) - 3,990,000

• - 30 day VWAP of share price of at least $0.38 in year 3 / 36 months of employment (40%) - 4,560,000

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

Issue details

Number of +securities

11,400,000

For personal use only

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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