Completion of Sale of Send Global Limited and Other Assets

NZX ANNOUNCEMENT

Being AI Limited (NZX: BAI)
Completion of Sale of Send Global Limited and Other Assets

12 December 2025

Being AI Limited (“BAI” or “the Company”) advises that the sale of all of the shares in Send Global
Limited (“Send Global”) and other related assets to Wilshire Treasury Limited (“Wilshire”) has today
been completed, following receipt of shareholder approval at the Special Shareholders’ Meeting held
on 10 December 2025, which was the final outstanding condition under the sale agreement dated 3
November 2025 (“Sale Agreement”).

Transaction Summary

Details of the transaction, including the consideration, assets sold, and debt discharged, are outlined
in the Company’s previous announcements regarding the transaction made on 4 November 2025 and
21 November 2025.

Post-Completion Position of BAI

Following Completion:
 BAI retains only the cash consideration for the transaction, as well as certain specifically
excluded assets, including cash, deferred tax assets and GST receivables.
 BAI will continue to meet its ongoing legal, regulatory and NZX listing obligations.
 Wilshire is required, subject to the terms of the Sale Agreement and a cost coverage
commitment agreement, to advance to BAI, on demand, the funds necessary to meet all
reasonable out-of-pocket costs and expenses incurred by BAI following completion. This
obligation is subject to BAI first applying available cash and ongoing compliance by BAI with
the NZX Listing Rules.
 BAI will evaluate potential new acquisition opportunities that are in the best interests of all
shareholders.
BAI notes that Send Global and its subsidiaries are no longer part of the BAI Group from the date of
completion.

Mike Dunshea
Company Secretary and CFO
027 579 8687