Investor Presentaiton

Offer Overview AROA is conducting a capital raising of up to approximately A$52 million via an institutional placement and share purchase plan at $1.165 per share Placement Placement Pricing • Placement to raise up to approximately A$47 million ("Placement") Up to 40.5m New Shares under the Company's existing placement capacity under ASX Listing Rules 7.1 The offer price of A$1.165 per share ("Offer Price") represents: o A discount of 1.7% to the last close of A$1.185 on 26 July 2021 o A discount of 4.6% to the 5-day VWAP of A$1.221 up to and including 26 July 2021 Ranking New Shares issued under the Placement will rank pari passu with existing Shares from their date of issue Share Purchase Plan • AROA intends to offer eligible shareholders an opportunity to subscribe for up to A$15,000 of New Shares under a Share Purchase Plan ("SPP") at a price per share equal to the Offer Price It is intended the SPP will be capped at approximately A$5 million Joint Lead Managers Bell Potter Securities Limited and Wilsons Corporate Finance Limited TM AROA 8

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