6 questions asked at 2024 Bluebet EGM

May 30, 2024

Here is the text of the 6 written questions submitted at the 2024 Bluebet EGM to approve the BETR merger held on May 30, along with a summary of the answers. The meeting was done in 15 minutes and I was the only shareholder asking questions. There were no protest votes.

Q1. There are a lot of placements going on, will you give consideration to doing a $30,000 share purchase plan for your 5,500 retail shareholders so we too can participate in the capital raising on the same terms as the "sophisticated" investors?

Answer: maybe in the future, but the chair focused on choices between placements and rights issues rather than even mentioning the SPP option. Listen to audio of exchange via Twitter.

Q2. Could incoming chair Matthew Tripp comment on whether he supports Bluebet's risky expansion plans in the US or does he think we should primarily focus on Australia? Also what does Mr Tripp and the current chair think the long term name of the company and main trading name should be, Bluebet of BETR. Or, should we keep both?

Answer: this will be addressed in the strategic review once the deal completes on July 1 and the new board is in place. Listen to audio of exchange via Twitter, plus this extra exchange.

Q3. Could Michael Sullivan and Bill Richmond please summarise the full history of their relationship and dealings with Matthew Tripp and his father Alan Tripp, over the years. What do they think about Matt Tripp's record of falling in and out with a lot of the major players and brands in the Australian gambling market over the years?

Answer: Michael said they worked together with the launch of Sportingbet in 2000 and Bill said they first met with the launch of Sportsbet in 2004. Listen to audio of exchange via Twitter.

Q3. Why did Matthew Tripp want to become our non-independent chair as of January 1, 2025, how much will be be paid for this role and why didn't we opt for an independent chair to take us forward? Was it a case of the largest shareholder being entitled to chair the company? Has Mr Tripp ever done the AICD director's course, like 65,000 other Australians?

Answer: this one was butchered by question wrangler Laura but Michael Sullivan stressed that he's the executive chairman of Melbourne Storm which is very successful. Listen to audio of exchange via Twitter.

Q5. Matthew Tripp has a long history of teaming up with people and then moving on and competing against them. What confidence do the current directors of Bluebet have that he'll be a reliable and long term partner going forward and does Mr Tripp have any other investments or arrangements in the gambling industry outside Bluebet once this deal completes?

Answer: Laura improvised with this one but got there in the end. Michael Sullivan said his big investment in Bluebet and 2 year escrow meant he was fully aligned and locked up. Listen to audio of exchange via Twitter.

Q6. Who are the individuals behind Bondi B Ltd which is being issued issued 72.75m shares as part of this transaction?

Answer: No comment. That must remain top secret. Listen to audio of exchange via Twitter.