Employee Stock Option/ Share Scheme::Grant of Share Awards and Allotment and Issue of Ordinary Shares Pursuant to AusGroup PSP

AUSGROUP LIMITED

(Co. Reg. No. 200413014R)

(Incorporated in the Republic of Singapore)

GRANT OF SHARE AWARDS AND ALLOTMENT AND ISSUE OF ORDINARY SHARES

PURSUANT TO THE AUSGROUP PERFORMANCE SHARE PLAN

In accordance with Rule 704(29) of the Listing Manual of the Singapore Exchange Securities Trading Limited, the Board of Directors of AusGroup Limited (the "Company") wishes to announce the grant of share awards ("Grant") pursuant to the AusGroup Performance Share Plan ("PSP") as follows:

1.	Date of Grant	9 December 2021
2.	Exercise price of Grant awarded	Not applicable
3.	Number of shares granted	10,000,000 ordinary shares
4.	Market price of each share (last dealt price) on the date	S$0.024
	of Grant
5.	Number of shares awarded to director(s) and/or	Managing	Director and	Chief
	controlling shareholder(s) (and each of their associates)	Executive	Officer,	Shane	Francis
		Kimpton,	has	been	granted
		10,000,000 ordinary shares
6.	Vesting Period	Nil

Pursuant to the above, the Company allotted and issued 10,000,000 ordinary shares in the share capital of the Company to Shane Francis Kimpton, the Managing Director and Chief Executive Officer of the Company, under the PSP.

The abovementioned new shares are expected to be listed and quoted on the Singapore Exchange Securities Trading Limited with effect from 9.00 a.m. on or around 13 December 2021.

The new shares issued rank pari passu in all respects with the existing shares of the Company.

Following the above allotment and issue of new shares, the number of issued and paid-up ordinary shares in the share capital of the Company will be increased to 3,073,230,431 ordinary shares.

BY ORDER OF THE BOARD

WU YU LIANG

Non-Executive Chairman

9 December 2021