Clover : Rights update

Clover Corporation Limited

ABN 85 003 622 866

39 Pinnacle Road

Altona North, Victoria, 3025

Australia

Telephone: 61 3 8347 5000

8 December 2020

By ASX Online

ASX Market Announcement Office

Australian Securities Exchange

Exchange Centre

20 Bridge Street

Sydney NSW 2000

Vesting of performance rights pursuant to long term incentive plan rules

As noted in the annual financial report of Clover Corporation Limited (Clover or Company) (ASX code: CLV) for the year ended 31 July 2020 recently given to ASX, all of the 650,619 performance rights granted by the Company for the year ended 31 July 2018 (FY18 performance rights) to its managing director and other senior managers between 1 November 2017 to 15 December 2017 have now vested and are capable of being exercised.

The exercise period of the FY18 performance rights granted to Clover's managing director (being 470,821 rights) ends on 30 September 2022, and the exercise period of the remaining FY18 performance rights ends on 31 July 2022.

The above details are provided under rule 3.10.7 of the ASX Listing Rules.

All of the FY18 performance rights have now been exercised, and existing quoted fully paid ordinary shares in the Company have been provided to the relevant senior managers from the Company's employee share trust in satisfaction of those rights.

There are now 188,868 outstanding performance rights granted by the Company for the year ended

31 July 2019 (FY19 performance rights), 147,420 performance rights (FY20 performance rights) granted by the Company for the year ended 31 July 2020, and 154,647 performance rights (FY21 performance rights) granted by the Company for the year ended 31 July 2021, none of which have vested at this stage.

Paul Sherman

Company secretary

Clover Corporation Limited