BABYLON PUMP & POWER LIMITED — Capital/Financing Update 2021

Apr 22, 2021

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23 April 2021

ASX Market Announcement Via e‐lodgment

CLEANSING NOTICE UNDER SECTION 708A(5)(e) OF THE CORPORATIONS ACT

As announced on 25 February 2021, Babylon Pump & Power Ltd (Company) undertook a Share Purchase Plan (SPP) to issue up to 40,000,000 ordinary shares at an issue price of $0.025. An announcement was released to the market on 19 April 2021 advising of the closure and shortfall of the SPP.

The Company subsequently completed a placement of 20,000,000 fully paid ordinary shares at $0.025 as a result of this underwritten SPP. The related Appendix 2A was also lodged today.

The Company gives notice pursuant to section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Corporations Act ) that:

1. the Company issued the Shares without disclosure under Part 6D.2 of the Corporations Act; and

2. as at the date of this notice, the Company has complied with:

   • a) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

   • b) section 674 of the Corporations Act; and

3. as at the date of this notice, there is no information to be disclosed which is excluded information (as defined in section 708A(7) of the Corporations Act) that is reasonable for investors and their professional advisers to expect to find in a disclosure document.

This announcement is authorised for market release by the Board of Babylon Pump & Power Limited.

Yours faithfully

Michael Shelby

Executive Chairman Babylon Pump & Power Ltd