ARCHER MATERIALS LIMITED — Capital/Financing Update 2021

Oct 13, 2021

Corporate iTech Transaction

Archer Materials Limited (ACN: 123 993 233) Lot Fourteen, Frome Road, Adelaide SA 5000

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ASX Announcement (ASX: AXE )

14 October 2021

Archer enters a new era of growth as a pure-play deep tech

Archer Materials Limited (“Archer”, the “Company”, “ASX: AXE ”) is pleased to announce that it has completed the sale of the Company’s mineral exploration business to iTech Minerals Ltd (“iTech”). Archer is now a pure-play deep technology company.

Tomorrow, the iTech shares will be issued to eligible Archer shareholders with holding statements to be sent early next week.

iTech have successfully completed their initial public offering and expect to list on ASX sometime in the last week of October 2021.

In-line with the Company’s strategy, Archer will now seek to change its GICS code from ‘Materials - Diversified Metals & Mining’ to ‘Information Technology - Semiconductors’, which is required in the process to have the Company admitted to the S&P/ASX All Technology Index.

About Archer

Archer is a technology company developing advanced semiconductor devices, including chips that are relevant to quantum computing and medical diagnostics. Archer’s flagship development, the[12] CQ chip, is a world-first qubit processor technology that could allow for quantum computing powered mobile devices (‘QPMDs’). For more information, please view Archer’s webinar with IBM.

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 Tel: +61 8 8272 3288

Media Enquiries Mr James Galvin Communications Officer Email: hello@archerx.com.au

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

Website: https://archerx.com.au/ Twitter: https://twitter.com/archerxau YouTube: https://bit.ly/2UKBBmG Sign up to our Newsletter: http://eepurl.com/dKosXI