General Market Update and SPP Capital Change Notice

30 September 2024
NZX Limited
WELLINGTON

General Market Update

Spectrum Consulting Limited Acquisition
The date for satisfaction of the conditions precedent for the acquisition of Spectrum Consulting
Limited have been extended to 5pm on 4 October 2024.
BAI intends to update the market on further progress satisfying the conditions precedent at the
end of this week.
Capital Raising Initiatives
BAI has received subscriptions for 477,711 new shares under the Share Purchase Plan and the
General Offer. The Board wishes to thank those investors who have supported the Offers and is
delighted with the uptake from BAI’s small base of retail shareholders. BAI expects to grow its
shareholder base as the Market becomes more familiar with BAI and its business activities.
BAI has received interest further from third party investors wishing to participate in the General
Offer, and has therefore resolved to continue to accept applications under the General Offer until
5pm on 11 October 2024, and reserves the right to accept late applications after then.
The General Offer remains open for acceptance at the link below:
https://www.beingai.group/shareplan
New BAI shares are available for subscription under the General Offer at $0.60 per share.
Additional information
Nothing in this announcement constitutes investment, legal, tax or other advice. Investors are
encouraged to seek appropriate professional advice before making any investment decision.
For any questions in respect of the General Offer, please contact Sean Joyce – Executive Chair,
Being AI Limited at +64 21 865 704 or email sean@corporate-counsel.co.nz. For other questions,
investors should contact their financial or legal adviser.
For more information on the content of this announcement, please contact:
Sean Joyce
Executive Chairman
Being AI Limited
Auckland
Contact: +64 21 865 704

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Capital Change Notice


Section 1: Issuer information
Name of issuer Being AI Limited
NZX ticker code BAI
Class of financial product Ordinary Shares
ISIN (If unknown, check on NZX website) NZECHE0001S8
Currency NZD
Section 2: Capital change details
Number issued 477,711
Nominal value (if any) Not applicable
Issue price per security $0.60
Nature of the payment (for example, cash or other
consideration)
Cash
Amount paid up (if not in full) Paid in full
Percentage of total class of Financial Products issued
(calculated on the number of Financial Products of the Class,
excluding any Treasury Stock, in existence)
0.26%
For an issue of Convertible Financial Products or Options, the
principal terms of Conversion (for example the Conversion
price and Conversion date and the ranking of the Financial
Product in relation to other Classes of Financial Product) or the
Option (for example, the exercise price and exercise date)
Not applicable
Reason for issue and specific authority for issue (the reason
for change must be identified here)
292,962 shares allotted under
Share Purchase Plan offer to
existing shareholders dated
12 September 2024
Allotment of 184,749 shares
under General offer for initial
part shortfall allotment in BAI’s
Share Purchase Plan offer
Total number of Financial Products of the Class after the issue
(excluding Treasury Stock) and the total number of Financial
Products of the Class held as Treasury Stock after the issue.
187,279,587 quoted ordinary
shares
No Treasury Stock
In the case of an acquisition of shares, whether those shares
are to be held as treasury stock
Not applicable
Specific authority for the issue, including a reference to the
rule pursuant to which the issue is made
Board resolution and directors’
certificate required by section
47(2) of the Companies Act
1993. NZX Listing Rules
4.3.1(c) and 4.5.1
Terms or details of the issue, acquisition, or redemption (for
example: restrictions, escrow arrangements)
Shares to rank equally with all
existing fully paid ordinary
shares in BAI.
Date of issue 30/09/2024

Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement Sean Joyce
Contact person for this announcement Sean Joyce
Contact phone number +64 21 865 704
Contact email address
sean@corporate-
counsel.co.nz
Date of release through MAP

30/09/2024