Issue of Convertible Loan Notes

31 March 2022

MYSALE Group plc

(the "Company", "MySale" or the "Group")

Issue of Convertible Loan Notes

MYSALE (AIM: MYSL), a leading international online retailer, today announces that it has raised A$2.3m in cash through the issue and subscription of convertible loan notes ("Loan Notes") to existing shareholders, including Carl Jackson (Executive Chair) and Kalman Polak (Chief Executive Officer).

The Loan Notes have a maturity date of 30 April 2025 and are convertible into ordinary shares of the Company at a conversion price of 1.5 pence (or A$0.02625, with exchange rate fixed at GBP:AUD rate of 1.75), per ordinary share, at the election of the Loan Note holders, at any time prior to maturity. The Loan Notes may be redeemed by the Group at any time prior to maturity, without penalty. Interest will be payable at a rate of 7% per annum, paid-in-kind in ordinary shares in the Group.

The Group has undertaken to exercise reasonable endeavours to procure that appropriate security is granted by OzSale Pty Ltd (or any other members of the Group), over the appropriate assets of the Group in favour of Loan Note holders, as soon as reasonably practicable following the issue of the Loan Notes.

As highlighted in the Group's interim results, announced separately today, the Group has been operating in a difficult trading environment, which has impacted the cash balance of the Group. To ensure that the Group is able to continue to operate as a going concern and advance its ANZ First Strategy, the net proceeds of the Loan Note issue will be used to fund the continued development of the Group's marketplace technology platform and general working capital.

Related Party Transaction

The issue of Loan Notes to Carl Jackson (Executive Chair) and Kalman Polak (Chief Executive Officer), are considered to be related party transactions pursuant to Rule 13 of the AIM Rules for Companies.

The Company's independent directors for the purposes of the related party transactions (being Charles Butler and Donna Player), consider, having consulted with the Company's nominated adviser, Singer Capital Markets, that the issue of the Loan Notes and their terms are fair and reasonable insofar as the shareholders are concerned.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement this inside information is now considered to be in the public domain. The person responsible for this announcement is Carl Jackson, Executive Chairman.

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About MYSALE

MYSALE is an online off-price, retail platform offering a large, curated selection of branded fashion, beauty and homewares products through three core websites and associated mobile applications, including OZSALE.com.au, NZSALE.co.nz and SINGSALE.com.sg MYSALE provides a discovery-based online shopping experience for its customers. New sales events are offered daily with a curated selection of branded products at discounted prices, typically in limited quantities and for limited time periods, to seek to create excitement for customers. MYSALE's suppliers are offered a suite of inventory solutions to fulfil their demand for inventory management and increase customer awareness of their brands and products.