Excite secures $2.1 million capital raising

• Excite raises $2.1 million through convertible note issue to institutional investors
• Funds to be used for cost restructuring and operational enhancements
• Convertible notes issued at 30% premium to previous closing price

Excite Technology Services Limited (Excite or the Company) (ASX:EXT) is pleased to announce that it has successfully secured commitments for $2.1 million in funding through the issue of convertible notes to a small group of institutional investors, including continued support from Belgravia Strategic Equities Pty Ltd (Belgravia). This investment deepens Excite's relationship with its institutional investor base and reflects strong confidence in the Company's strategic direction and growth potential. The funds will be used to accelerate key initiatives across the Group, including a restructuring of its cost-base and operational enhancements aimed at achieving cash flow break-even. The convertible note structure was selected due to its non-dilutive nature, providing the Company with flexible capital while preserving shareholder value. The notes are unsecured, bear interest at 10% per annum (capitalised quarterly), and are convertible at the election of the noteholder at a price of $0.01 per share, representing a 30% premium to the previous closing price and is subject to shareholder and regulatory approvals. Additionally for every two shares issued upon conversion, one option will be granted with an exercise price of $0.012 and a 36-month expiry. Belgravia's continued participation in this round of funding underscores its long-term commitment to Excite and its strategic vision. A full Company strategy update including changes to management will be provided to Shareholders in due course.