Ned Montarello, Executive Chairman and Chief Executive Officer of ThinkSmart agreed to acquire remaining 70.6% stake in ThinkSmart Limited (AIM:TSL) on July 29, 2022. ThinkSmart shareholders will be entitled to receive cash consideration equal to the proceeds realised from the post-Scheme implementation sale on the New York Stock Exchange of the proportion of the 618,750 shares in Block Inc held by ThinkSmart attributable to their shareholding in ThinkSmart. Post completion, Ned Montarello will hold the entire stake in ThinkSmart Limited. Post completion, ThinkSmart Board will comprise: Ned Montarello, Adam Montarello and Scott Montarello. It is not expected that implementation of the Scheme will have any immediate impact on the employees of ThinkSmart. The transaction is subject to Approval being obtained from the Financial Conduct Authority the Australian Securities and Investments Commission ("ASIC") and other applicable regulators, ThinkSmart Independent Shareholders approving the Scheme, the independent expert concluding (and continuing to conclude) in the independent expert's report that the Scheme is in the best interest of ThinkSmart shareholders, sale of Block shares and Court approval. As of October 27, 2022 UK Financial Conduct Authority approved the deal. The Independent Board Committee of ThinkSmart unanimously recommends that ThinkSmart shareholders vote in favour of the Scheme. As of November 16, 2022, ThinkSmart Shareholders and Excluded Shareholders voted in favour of the proposed acquisition. As of November 22, 2022, Federal Court of Australia approved the proposed scheme of arrangement. Effective date of the transaction shall be October/November 2022. Effective Date of the transaction shall be November 23, 2022.

Emma Gabriel, Andrew Potts and Tom Diehl of Canaccord Genuity Limited acted as financial advisor for ThinkSmart. Computershare Investor Services Pty Limited acted as ThinkSmart's Share Registry. Grant Thornton Corporate Finance Pty Ltd acted as Independent Expert for ThinkSmart, Deloitte Tax Services Pty Ltd as Australian tax adviser to ThinkSmart. KPMG LLP as UK tax adviser to ThinkSmart, Herbert Smith Freehills as Australian legal adviser to ThinkSmart and Shoosmiths LLP as UK legal adviser to ThinkSmart. Deloitte Tax Services Pty Ltd charged a fee of up to approximately AUD 190,000. KPMG LLP charged a fee of up to approximately AUD 17,000. Grant Thornton Corporate Finance Pty Ltd charged a fee of up to approximately AUD 70,000. Herbert Smith Freehills charged a fee of up to approximately AUD 570,000. Shoosmiths LLP charged a fee of up to approximately AUD 51,000. Computershare Investor Services charged a fee of up to approximately AUD 17,000.