SYDNEY, AUSTRALIA, 5 MAY 2025: Excite Technology Services Limited (Excite or the Company) (ASX: EXT) is pleased to announce it has secured binding commitments from sophisticated and institutional investors to raise $2.8 million through the issue of new shares in Excite by way of a single tranche placement. The capital raised will be used for organic growth initiatives.

Key Highlights

• Excite has completed its Placement raising $2.8 million following strong support from new and existing institutional and sophisticated investors.
• Following strong March quarter performance, the Company is now looking to accelerate revenue opportunities while focussing on its unique and strategic advantages in the market.
• Funds will be applied to CBIT’s Nangu Tactical Centre, including digital forensics training equipment to implement novel and advanced training courses for Defence and State Law Enforcement. It is expected to be highly accretive within the first 12 months.
• Excite’s offensive security services (OSS), supporting new sales initiatives expected to be secured within the next quarter.
• The Company is continuing to evaluate several acquisition opportunities that are aimed to strengthen cross-sell opportunities, increase customer engagement, and deliver EBITDA accretion.

Excite Managing Director and CEO, Mr Bryan Saba, commented: “The funds will enhance our core capabilities in digital forensics, cyber training, and offensive security whilst directly supporting revenue-generating opportunities already in play. We’re building momentum across defence, government and critical infrastructure sectors, and this investment accelerates our ability to scale and deliver nationally significant outcomes.”

These investments support Excite’s mission to become a national leader in cyber security and digital forensics, delivering high margin recurring revenues through government contracts and expanding the Company’s commercial cyber capability.

Capital raise overview

The Company will issue approximately 233 million new fully paid ordinary shares to eligible sophisticated and institutional investors at a price of $0.012 per new share. The issue price represents an 9.1% premium to the previous closing price of Excite’s fully paid ordinary shares.

The Placement comprises of a single tranche pursuant to the Company’s available placement capacity under ASX Listing Rule 7.1 and 7.1A and is equivalent to 12.8% of existing shares on issue.

Use of Funds

• Strategic investment in the Company’s Tactical Training Facility: $1.12m.
• Development of Offensive Security Services (OSS) capability that will work closely with the Company’s existing cyber security consultants: $700k.
• General working capital to bolster the Company’s balance sheet in support of high-profile tender work that is currently being undertaken: $0.80m.
• Costs of the capital raise: $168k.

Indicative Timetable

• Trading Halt: Thursday, 1 May 2025
• Launch of Offer: Thursday, 1 May 2025
• Announcement of completion of Placement: Monday, 5 May 2025
• Normal trading resumes on the ASX: Monday, 5 May 2025
• Settlement of Placement shares: Thursday, 8 May 2025
• Allotment of Placement shares: Friday, 8 May 2025

*The timetable above is indicative only and may change. The Company reserves the right to amend any or all of these dates and times without notice, subject to the Corporations Act, the Listing Rules and other applicable laws.

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This announcement has been authorised by the Board.

Shaw and Partners Limited acted as the Lead Managers and Bookrunners of this capital raise placement.

About the Nangu Tactical Centre

As the first cyber and digital forensics tactical training centre in the Asia-Pacific region, the Nangu Tactical Centre will be a flagship project designed to elevate Australia’s sovereign capability in cyber security, digital forensics, and incident response. Backed by a $3 million federal grant awarded to subsidiary CBIT Pty Ltd, the Nangu Tactical Centre will deliver immersive, real-world training environments tailored to the needs of Defence, Government, and State Law Enforcement agencies.

Facilities will including a mock courtroom, ISO-accredited digital forensics labs, a protective security zone, and scenario-based incident response arenas. The centre is uniquely positioned to close the cyber skills gap and become a premier destination for advanced practitioner education.

This facility will serve as a central differentiator in Excite’s growth strategy, underpinning the Company’s expansion into high-margin training, consulting, and incident response engagements across the Asia-Pacific region.

Designed in collaboration with Government Agencies and key industry and academic partners, the centre will support the delivery of over 800 students annually. Its strategic location close to Canberra, combined with its ability to simulate complex cyber operations and legal processes, will ensure Excite is positioned as a key national player in the evolving digital security landscape.

About Excite Technology Services Limited

Excite offers comprehensive cybersecurity services, including threat prevention, managed cloud and IT services, specialist digital forensics, incident response, forensic investigations, and accredited training to ensure a safe Australia.

Further information please visit: https://excitecyber.com