Auckland, NZ – 27 February 2023

Trade Window Holdings Ltd (NZX: TWL)(“TradeWindow”) today announced it has secured $5.4 million under its non-underwritten capital raising (“Share Offer”), which targeted proceeds of up to $20 million. Key investors supported the Share Offer.

TradeWindow Chair Alasdair MacLeod said: “While the offer has fallen short of its target, we are pleased with the commitment from key shareholders. We remain engaged with potential strategic investors to provide growth capital outside of the formal offer process and we are exploring alternative funding sources.

“In this challenging capital market we will reduce cash usage to a more sustainable level by re-prioritising R&D investments and identifying cost efficiencies – without impacting our ability to continue to service our customers, meet market demand, and generate revenue from existing solutions.”

“The reduction in capital requirements will impact the speed at which we can consolidate existing solutions into the global trade platform. TradeWindow remains committed to this strategy and to achieving profitability. We will release revised financial projections following the conclusion of funding plans.”

“TradeWindow has an impressive customer base, including some of the world’s largest agriculture exporters. Demand for TradeWindow’s solutions remains strong and the business has a healthy sales pipeline of high-value prospects across New Zealand, Australia, Philippines and USA.”

FY23 guidance remains in place as updated on 13 January 2023 with trading revenue expected to be approximately $4.8 million to $5.1 million and total income to be approximately $5.5 million to $5.8 million.

Settlement and allotment of the new shares subscribed under the Share Offer is expected to occur on 2 March 2023. The new shares will be issued on 6 March 2023 at the issue price of 45 cents (being a 10% discount to the closing price the day prior to the launch of the Share Offer) and will rank equally in all respects with TradeWindow’s existing ordinary shares.