BIF – Further investment in NZIB businesses

Booster is pleased to announce that the Booster Innovation Fund (BIF) has increased its interest in a number of its existing investee businesses, by purchasing a portion of the shares currently owned by Wellington UniVentures. Those businesses included in this transaction are Advemto Ltd, TasmanIon Ltd, XFrame Pty Ltd, Inhibit Coatings Ltd and Allegro Energy Pty Ltd. These investments are registered and held on behalf of BIF via its partnership interest in NZ Innovation Booster LP (NZIB) - an underlying fund that was established as a joint venture between the Booster group, Wellington UniVentures and Otago Innovation Limited. One of the key objectives of NZIB is to introduce privately sourced funding to allow Wellington UniVentures to recycle its capital into the emerging pipeline of intellectual property innovations at Victoria University of Wellington. This transaction meets this objective as well as providing BIF with an opportunity to increase its exposure to investments that are beneficial to the overall portfolio construction. Through this transaction, BIF will make a total cash investment of $519,000 to purchase the additional interests in the relevant businesses at the same price at which they are currently reflected in the net asset value of the Fund. Following this and other recent follow-on investment transactions BIF has an investment portfolio of 31 companies with a net asset value of over $14.5 million. This notice follows the issuance of units announcement dated 3 March 2023 in which capital was raised in anticipation of the finalisation of this transaction. The capital was raised from a combination of Booster related entities and external investors who had applied for units from the Fund as a continuous issuer. Investors can continue to purchase units in BIF on the NZX or can subscribe for units in the fund as part of the process described in the fund's Product Disclosure Statement (PDS) that is available at www.booster.co.nz For further information regarding BIF visit https://www.booster.co.nz/booster-investments/booster-innovation-fund.aspx For more information, please contact: Gary Scott Company Secretary Booster Investment Management Limited 04 8944300 About Booster Booster Investment Management Limited (Booster) is the manager and issuer of the Fund, and part of the Booster Group which has been helping New Zealanders save since 1998. The group currently administers superannuation and investment funds of over $5 billion on behalf of more than 170,000 New Zealanders. BIF is a managed investment fund that invests in early-stage companies founded on intellectual property originated or developed in New Zealand. For more information, including a copy of the Product Disclosure Statement, please visit www.booster.co.nz End CA:00408338 For:BIF Type:TRANSACT Time:2023-03-15 08:45:07