ARCHER MATERIALS LIMITED — Capital/Financing Update 2020

May 31, 2020

Corporate Cleansing Notice - Share Purchase Plan

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Archer Materials Limited (ACN: 123 993 233) Ground Floor, 28 Greenhill Road, SA 5034 Phone: +61 8 8272 3288 Email: hello@archerx.com.au www.archerx.com.au

ASX Announcement (ASX: AXE )

1 June 2020

Share Purchase Plan Cleansing Notice

Archer Materials Limited (“Archer”, “Company ” ) refers to the Company’s share purchase plan (“SPP ” ) whereby eligible shareholders will have the opportunity to purchase new Archer shares at a price of $0.60 per share (ASX announcement 28 May 2020).

The Company intends to make offers under the SPP on Monday, 1 June 2020 (being the opening date of the SPP). A SPP offer booklet with further details will either be available for download by, or posted to, eligible shareholders of the Company.

The SPP will be offered in accordance with ASIC Corporations (Share and Interest Purchase Plan) Instrument 2019/547 (“Instrument”). It is a condition of the Instrument that the Company gives ASX this notice within the 24-hour period before the SPP offer is made. Accordingly, Archer gives notice that:

1. The Company will make offers to issue shares under a Share Purchase Plan without disclosure to investors under Part 6D.2 of the Corporations Act 2001 (Cth) (“Act”).

2. This notice is given in accordance with the Instrument.

3. As at the date of this notice, the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company and section 674 of the Act.

4. As at the date of this notice, there is “no excluded information” within the meaning of sections 708A(7) and 708A(8) of the Act (as if this notice were a notice under paragraph 708A(5)(e) of the Act).

About Archer

A materials technology company developing materials in quantum computing, biotechnology, and lithium-ion batteries, and exploring for minerals in Australia. The Company has strong intellectual property, broad-scope mineral tenements, world-class in-house expertise, a unique materials inventory, and access to over $300 million of technology development infrastructure.

For further information, please contact:

The Board of Archer authorised this announcement to be given to ASX.

General Enquiries Mr Greg English Executive Chairman Dr Mohammad Choucair Chief Executive Officer

Damien Connor Company Secretary Tel: +61 8 8272 3288

Media Enquiries Mr James Galvin Communications Officer Email: hello@archerx.com.au Tel: +61 2 8091 3240

For more information about Archer’s activities, please visit our:

Website: https://archerx.com.au/ Twitter: https://twitter.com/archerxau?lang=en YouTube: https://bit.ly/2UKBBmG Medium: https://medium.com/@ArcherX Sign up to our Newsletter: http://eepurl.com/dKosXI