CNW: Dispatch of Target Statement to Shareholders

ASX ANNOUNCEMENT

August 13, 2021

Level 28

108 St Georges Terrace

Perth WA 6000

ABN98 103 348 947

ASX CNW

The Manager

Market Announcements Office

ASX Limited

Level 4, 20 Bridge Street

SYDNEY NSW 2000

Dear Sir / Madam,

Cirrus Networks Holdings Limited (ASX: CNW) - Takeover bid by Webcentral Group Limited (ASX: WCG) - Target's Statement

Cirrus Networks Holdings Limited (ACN 103 348 947) ("Cirrus") confirms that it has today completed the dispatch of its Target's Statement to Cirrus shareholders (Shareholders) in response to the on-market takeover offer by Webcentral Group Limited (ACN 073 716 793) ("Webcentral"), as required by item 13 of section 635(1) of the Corporations Act 2001 (Cth).

For the reasons set out in the Target's Statement, the Directors of Cirrus unanimously recommend that Shareholders REJECTWebcentral's offer.

An Independent Expert's Report will be made available to Shareholders in a supplementary Target's Statement expected to be released to ASX before the close of the offer period on 16 September 2021.

Cirrus will continue to keep Shareholders informed of further material developments in relation to Webcentral's offer.

Yours sincerely

Catherine Anderson

Company Secretary

The Board of Directors has authorized the release of this announcement.

Contact for further information

Matt Sullivan	Matt Green	08 6180 4222
Managing Director	Chief Financial Officer	[e-mail]
		cirrusnetworks.com.au

ASX ANNOUNCEMENT

August 13, 2021

Level 28

108 St Georges Terrace

Perth WA 6000

ABN98 103 348 947

ASX CNW

ABOUT CIRRUS

Cirrus Networks Holdings Limited (ASX: CNW) is an innovative IT solutions provider who works with businesses to understand their technological needs and implement world leading solutions that are both cost effective and provide long term operational gain. The diverse reach of Cirrus means the company is able to provide a wide range of solutions including:

•Data Centre and Cloud	•Business continuity and Cyber Security
•Convergence	•End user computing
•Storage	•	Unified communications and IP Telephony, and;
•	Data management (including big data)	•	High quality IT Service Management, Consulting and
•	Network design and optimisation		Project Management services.

Excellent service and an innovative, holistic approach have seen Cirrus quickly grow an extensive base of blue-chip clients across industry sectors. The rapid expansion of Cirrus has seen the company receive a number of awards as one of Australia's fastest growing technology companies.

The Cirrus offering was strengthened further in 2015 with the acquisition of Perth-based IT Solutions Provider, L7 Solutions. Since then, an assertive national expansion strategy has enabled Cirrus to establish a robust Eastern states presence with the recent acquisitions of Melbourne based IT Provider, NGage Technology Group and leading Canberra IT services company Correct Communications.