Collaborate : 02/12/20 - Completion of Consolidation of Capital

ASX ANNOUNCEMENT

2 DECEMBER 2020

COMPLETION OF CONSOLIDATION OF CAPITAL

Collaborate Corporation Limited (ASX:CL8) is pleased to advise that following receipt of shareholder approval at its Annual General Meeting (AGM) on 19 November 2020, the Company has completed the consolidation of capital.

The purpose of the consolidation of capital was to implement a more appropriate capital structure for the Company going forward. The basis for the consolidation of capital was as follows:

• (a) every 25 fully paid ordinary shares in the capital of the Company (individually, a Share) be consolidated into 1 Share, and

• (b) every 25 options to acquire Shares (individually, an Option) be consolidated into 1 Option and the exercise price of each Option to be amended in inverse proportion to this ratio in accordance with ASX Listing Rule 7.22.1,

(together, the Consolidation).

The capital structure following completion of the Consolidation is set out below:

Capital structure pre-Consolidation Capital structure post-Consolidation

The revised exercise prices of the Options are as follows:

Number of Options
282,282,461
11,291,213
Number of
Class of Unquoted Option	Expiry Date	Exercise Price	Unquoted Options
Tranche 1 Unquoted Options	18 December 2020	$0.3750	6,928,629
Employee Options	3 September 2021	$0.5275	77,603
Employee Options	1 February 2022	$0.4075	10,401
Employee Options	7 May 2022	$0.3125	40,000
Employee Options	7 May 2022	$0.3750	40,000
Employee Options	2 September 2022	$0.2500	70,021
Employee Options	1 January 2023	$0.5000	13,980
Employee Options	16 March 2023	$0.2500	60,000
Employee Options	11 May 2023	$0.2500	120,000
Employee Options	1 September 2023	$0.2500	217,516
Tranche 2 Unquoted Options	31 October 2022	$0.3750	2,093,063
Executive Options	19 November 2025	$0.3750	1,620,000
Total number of Options	11,291,213

Number of Shares

1,413,388,606 56,535,414

Suite 3, Level 7, 189 Kent Street, Sydney NSW 2000 Tel: [phone] E:[e-mail]: www.collaboratecorp.com

ACN 066 153 982

Authorised by:

Chris Noone CEO and Director

Collaborate Corporation Limited

For more information please contact:

Chris Noone

CEO and Director

Collaborate Corporation Limited

E:[e-mail]

Jane Morey

Morey Media

E:[e-mail] M: 0416 097 678

About Collaborate Corporation Limited

Collaborate Corporation Limited is listed on the Australian Securities Exchange (ASX:CL8). It is Australia's leading listed company focused on providing innovative mobility solutions for consumers and the automotive industry. Collaborate operateswww.DriveMyCar.com.au Australia's leading peer-to-peer car rental business, andwww.Carly.co, Australia's first flexible car subscription service, supported by our proprietary PeerPass trust and reputation platform.

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