Absolute Obtains Final Order for Plan of Arrangement from the Supreme Court of British Columbia

Absolute Software Corporation (NASDAQ: ABST) (TSX: ABST) (“Absolute” or the “Company”) announced today that the Company has obtained a final order from the Supreme Court of British Columbia approving the previously announced acquisition of all of the outstanding shares of Absolute (the “Shares”) by 1414364 B.C. LTD., an affiliate of Crosspoint Capital Partners, L.P. (“Crosspoint”) by way of a statutory plan of arrangement (the “Transaction” or the “Arrangement”). Under the terms of the Arrangement, Absolute’s shareholders will receive US$11.50 for each Share held (the “Consideration”).

The Arrangement remains subject to customary closing conditions, including approval under Australia’s Foreign Acquisitions and Takeovers Act 1975 (the “FATA”), and is expected to close during the second half of 2023. Following completion of the Transaction, the common shares of Absolute are expected to be delisted from the Toronto Stock Exchange and the Nasdaq Global Market. An application will also be made for the Company to cease to be a reporting issuer in the applicable jurisdictions following completion of the Arrangement. The Company will also deregister the Shares under the U.S. Securities Exchange Act of 1934, as amended.

Further information regarding the Transaction is provided in the Company’s management information circular dated May 26, 2023 (the “Circular”). The Circular is available on SEDAR under the Company’s profile at www.sedar.com and on the Company’s website at https://www.absolute.com/company/investors/financials/.

About Absolute Software

Absolute Software (NASDAQ: ABST) (TSX: ABST) is the only provider of self-healing, intelligent security solutions. Embedded in more than 600 million devices, Absolute is the only platform offering a permanent digital connection that intelligently and dynamically applies visibility, control and self-healing capabilities to endpoints, applications, and network connections - helping customers to strengthen cyber resilience against the escalating threat of ransomware and malicious attacks. Trusted by nearly 21,000 customers, G2 recognized Absolute as a Leader for the thirteenth consecutive quarter in the Spring 2023 Grid Report for Endpoint Management and for the third consecutive quarter in the G2 Grid Report for Zero Trust Networking.