Collaborate : 30/10/20 Completion of Entitlement Issue and Appendix 2A

ASX ANNOUNCEMENT

30 OCTOBER 2020

COMPLETION OF ENTITLEMENT ISSUE

Collaborate Corporation Limited (ASX:CL8) (Collaborate or the Company) is pleased to announce that it has completed the partially underwritten non-renounceable entitlement offer of shares and free-attaching options pursuant to the prospectus dated 14 September 2020 (Entitlement Issue).

A total of 261,636,111 New Shares and 52,327,203 Options were issued on 30 October 2020, representing take-up of 68% of the total Shares offered under the Entitlement Issue and raising $2,354,725 before costs.

The Entitlement Issue was offered to shareholders registered at the Record Date of 18 September 2020 with a registered address in Australia and New Zealand (Eligible Shareholders) on the basis of one (1) New Share for every three (3) Shares held, together with one (1) free attaching option for every five (5) New Shares subscribed for and issued. The free attaching options will be unquoted, exercisable at $0.015 each and expire on 31 October 2022 (Options).

The Entitlement Issue is partially underwritten by existing shareholders of the Company namely SG Fleet Management Pty Limited and Willoughby Capital Pty Ltd as trustee for the Willoughby Capital Trust, alongside Directors of the Company Adrian Bunter and Chris Noone and Chief Operating Officer, Ben Hershman (the Underwriters).

CEO and Executive Director, Mr Chris Noone, said "We appreciate the continued support of all shareholders who applied for shares, as well as the Underwriters and major shareholders of the Company. Both SG Fleet and Willoughby Capital provided additional funds by also underwriting the offer".

An Appendix 2A follows this announcement and confirms the issued capital of the Company on a pre-consolidation basis following completion of the Entitlement Issue.

Following completion of the Entitlement Issue, the Company has 122,281,132 Shares and 24,456,010 Options available to be issued prior to 23 January 2021 which are available to investors pursuant to the shortfall offer under the prospectus dated 14 September 2020.

Authorised by:

Chris Noone

CEO and Director

Collaborate Corporation Limited

For more information please contact:

Chris Noone

CEO and Director

Collaborate Corporation Limited

1. [e-mail]

Suite 3, Level 7, 189 Kent Street, Sydney NSW 2000 Tel: [phone]

E: [e-mail] W: www.collaboratecorp.com

ACN 066 153 982

Jane Morey

Morey Media

1. [e-mail]

1. 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 operates www.DriveMyCar.com.auAustralia's leading peer-to-peer car rental business, and www.Carly.co, Australia's first flexible car subscription service, supported by our proprietary PeerPass trust and reputation platform.

2

+Rule 2.7

Appendix 2A

Application for quotation of +securities

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

If you are an entity incorporated outside Australia and you are seeking quotation of a new class of +securities other than CDIs, you will need to obtain and provide an International Securities Identification Number (ISIN) for that class. Further information on the requirement for the notification of an ISIN is available from the Create Online Forms page. ASX is unable to create the new ISIN for non- Australian issuers.

*Denotes minimum information required for first lodgement of this form, with exceptions provided in specific notes for certain questions. The balance of the information, where applicable, must be provided as soon as reasonably practicable by the entity.

Part 1 - Entity and announcement details

Question	Question	Answer
no
1.1	*Name of entity	Collaborate Corporation Limited
	We (the entity here named) apply for
	+quotation of the following +securities and
	agree to the matters set out in
	Appendix 2A of the ASX Listing Rules.1
1.2	*Registration type and number	ABN 60 066 153 982
	Please supply your ABN, ARSN, ARBN, ACN or
	another registration type and number (if you supply
	another registration type, please specify both the type
	of registration and the registration number).
1.3	*ASX issuer code	CL8
1.4	*This announcement is	☒A new announcement
	Tick whichever is applicable.	☐An update/amendment to a previous
			announcement
			☐A cancellation of a previous
			announcement
1.4a	*Reason for update	Not applicable
	Mandatory only if "Update" ticked in Q1.4 above. A
	reason must be provided for an update.
1.4b	*Date of previous announcement to this	Not applicable
	update
	Mandatory only if "Update" ticked in Q1.4 above.
1.4c	*Reason for cancellation	Not applicable
	Mandatory only if "Cancellation" ticked in Q1.4 above.
1.4d	*Date of previous announcement to this	Not applicable
	cancellation
	Mandatory only if "Cancellation" ticked in Q1.4 above.

1 Appendix 2A of the Listing Rules includes a warranty that an offer of the securities for sale within 12 months after their issue will not require disclosure under section 707(3) or 1012C(6) of the Corporations Act. If the securities to be quoted have been issued by way of a pro rata offer, to give this warranty, you will generally need to have lodged a cleansing notice with ASX under section 708AA(2)(f) or 1012DAA(2)(f) of the Corporations Act within 24 hours before the securities are offered (see ASIC Regulatory Guide 189 Disclosure relief for rights issues). If in doubt, please consult your legal adviser.

+ See chapter 19 for defined terms	Page 1
1 December 2019

				Appendix 2A
				Application for quotation of +securities
	1.5	*Date of this announcement		30 October 2020
	Part 2 - Type of issue
	Question	Question		Answer
	No.
	2.1	*The +securities to be quoted are:		☒Being issued as part of a transaction or
		Select whichever item is applicable.		transactions previously announced to the
		If you wish to apply for quotation of different types of		market in an Appendix 3B
		issues of securities, please complete a separate		☐Being issued under a +dividend or
		Appendix 2A for each type of issue.
			distribution plan
				☐Being issued as a result of options being
				exercised or other +convertible securities
				being converted
				☐Unquoted partly paid +securities that
				have been paid up and are now quoted
				fully paid +securities
				☐Restricted securities where the escrow
				period has expired or is about to expire
				☐+Securities previously issued under an
				+employee incentive scheme where the
				restrictions on transfer have ceased or
				are about to cease
				☐+Securities issued under an +employee
				incentive scheme that are not subject to a
				restriction on transfer or that are to be
				quoted notwithstanding there is a
				restriction on transfer
				☐Other
	2.2a.1	*Date of Appendix 3B notifying the market		14 September 2020
		of the proposed issue of securities for which
		quotation is now being sought
		Answer this question if your response to Q2.1 is "Being
		issued as part of a transaction or transactions
		previously announced to the market in an Appendix
		3B"
	2.2a.2	*Are there any further issues of +securities		No
		yet to take place to complete the
		transaction(s) referred to in the
		Appendix 3B?
		Answer this question if your response to Q2.1 is "Being
		issued as part of a transaction or transactions
		previously announced to the market in an Appendix
		3B".

+ See chapter 19 for defined terms	Page 2
1 December 2019