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now $3.70

The SPP received strong support from eligible shareholders, with valid applications totalling ~$43 million from 3,140 shareholders ... @ $3.55 per SPP Share. As the total value of applications received exceeded the SPP target size of $15-20 million, Aussie Broadband has undertaken a scale back, having regard to the pro rata shareholdings of eligible shareholders as at the record date.

The outcome is as follows:

- Eligible shareholders who applied for $1,000 of shares will not be subject to any scale back and will receive the amount they applied for, rounded down to reflect a whole number of shares. Accordingly, those shareholders will receive 281 new shares (for a total issue price $997.55), with their remaining application monies to be refunded

- Eligible shareholders who applied for more than $1,000 of shares have been subject to the scale back methodology having regard to their shareholding as at the record date for the SPP. The scale back methodology ensures that, subject to the $30,000 maximum application amount under the SPP, participating shareholders will receive an amount of new shares that:

o at least maintains their percentage shareholding in Aussie Broadband heldprior to the announcement of the Placement and SPP (Pro Rata Amount), subject to a minimum allocation of 281 new shares; or

o is equivalent to their application if that is lower than their Pro Rata Amount.

Approximately 98% of valid SPP applicants will receive at least their Pro Rata Amount, with most SPP applicants receiving an allocation well in excess of their Pro Rata Amount.