18 Nov 2021

NZ Commerce Commission Clears Coretex Acquisition

TEL +64 9 927 4700 PO Box 305 394 FAX +64 9 927 4701 Triton Plaza, North Shore 0757 Page 1 FREE 0800 4 - EROAD Auckland, New Zealand eroad.co.nz Market Release NZ Commerce Commission Clears Coretex Acquisition 18 November 2021 Transportation technology services company EROAD (NZX/ASX: ERD) welcomes the Commerce Commission’s decision to grant clearance for the Coretex acquisition. EROAD announced on 14 July 2021 that it had entered into a conditional agreement to acquire 100% of Coretex Limited (“Coretex”), a telematics vertical specialist provider delivering enterprise grade solutions. The acquisition is expected to accelerate EROAD’s key growth metrics by two years enabling it to capture the significant growth opportunity in North America and Australia. It also accelerates growth by adding new strategic verticals and broadens EROAD’s product and customer base. The acquisition, which has also received shareholder approval and Overseas Investment Office Consent, is now due to complete on 1 December 2021. Ends Authorised for release to the NZX and ASX by Mark Heine, EVP, General Counsel. For Investor enquires please contact: Anna Bonney Investor Relations +64 21844155 a nna@merlinconsulting.co.nz For Media enquiries please contact: Courtney Ayre ANZ Marketing Director +61438763521 courtney.ayre@eroad.com About EROAD EROAD Limited (ASX: ERD; NZX: ERD) (“EROAD”) purpose is safer and more sustainable roads. EROAD develops and markets technology solutions to manage vehicle fleets, support regulatory compliance, improve driver safety and reduce the costs associated with operating a fleet of vehicles and inventory of assets. EROAD has a proven SaaS business model and is experiencing continuing growth in installed units and revenue. EROAD has operations in New Zealand, North America and Australia with customers ranging in size from small fleets through to large enterprise customers . For more information visit https://www.eroadglobal.com/global/investors /
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