==> picture [596 x 69] intentionally omitted <==

16 November 2022

Calix AGM 2022 Presentation Pack

Sydney, Australia | 16 November 2022 – Australian environmental technology company, Calix Limited (ASX: CXL) (“Calix” or “the Company”) is pleased to provide a copy of the presentation materials for the 2022 Annual General Meeting to be held at 9.00am this morning.

Shareholders and guests can participate in the meeting:

Online : via the Lumi platform using a computer or mobile device at web.lumiagm.com/326600530
In Person : at the offices of Hamilton Locke, Level 42, Australia Square, 264 George Street, Sydney.

–ENDS–

This announcement has been authorised for release to the ASX by:

Phil Hodgson Managing Director and CEO Calix Limited 9-11 Bridge Street Pymble NSW 2073 Ph +61 2 8199 7400

==> picture [596 x 69] intentionally omitted <==

About Calix

Calix is a team of dedicated people who are urgently developing great businesses, leveraging our patented technology, that deliver positive global impact.

The core technology is being used to develop more environmentally-friendly solutions for water treatment, CO2 mitigation, biotechnology, advanced batteries, and more sustainable mineral and chemical processing.

Calix develops its technology via a global network of research and development collaborations, including governments, research institutes and universities, some of world’s largest companies, and a growing customer base and distributor network for its commercialised products and processes.

Because there’s only one Earth – Mars is for Quitters.

Website: https://www.calix.global/ Twitter: @CalixLimited YouTube: CalixLimited

For more information:

Phil Hodgson Darren Charles Managing Director and CEO CFO and Company Secretary [email protected] [email protected] +61 2 8199 7400 +61 2 8199 7400

Investor enquiries

[email protected]

Media enquiries

[email protected]

==> picture [93 x 34] intentionally omitted <==

==> picture [220 x 217] intentionally omitted <==

Online attendees – text question process

==> picture [93 x 34] intentionally omitted <==

==> picture [75 x 73] intentionally omitted <==

Select the messaging tab and type your question in the Ask a question box.

==> picture [65 x 61] intentionally omitted <==

Press the send arrow to submit your message for review.

==> picture [381 x 39] intentionally omitted <==

----- Start of picture text -----

Received
----- End of picture text -----

Your submitted questions along with any written responses from the meeting team can be found by selecting My Messages.

==> picture [413 x 401] intentionally omitted <==

----- Start of picture text -----

POWERED BY
----- End of picture text -----

Online attendees – audio question process

Click on the button at the bottom of the broadcast window. The meeting broadcast will be replaced with the audio questions interface.

Confirm your name, enter the topic of your . question and click Submit Request

Follow the instructions to grant access to your microphone and join the queue.

==> picture [93 x 34] intentionally omitted <==

==> picture [358 x 339] intentionally omitted <==

==> picture [205 x 53] intentionally omitted <==

----- Start of picture text -----

POWERED BY
----- End of picture text -----

Online attendees – audio question process

==> picture [93 x 34] intentionally omitted <==

Click on the button at the bottom of the broadcast window. The meeting broadcast will be replaced with the audio questions interface.

Confirm your name, enter the topic of your . question and click Submit Request

Follow the instructions to grant access to your microphone and join the queue.

==> picture [360 x 338] intentionally omitted <==

==> picture [205 x 53] intentionally omitted <==

----- Start of picture text -----

POWERED BY
----- End of picture text -----

Online attendees – voting process

==> picture [76 x 73] intentionally omitted <==

When open, the vote will be accessible by selecting the voting tab at the top of the screen.

To vote, simply select the direction in which you would like to cast your vote. The selected option will change colour. For Against Abstain

There is no submit or send button, your selection is automatically recorded. You can change your mind or cancel your vote any time before the poll is closed.

==> picture [93 x 34] intentionally omitted <==

==> picture [365 x 344] intentionally omitted <==

==> picture [205 x 53] intentionally omitted <==

----- Start of picture text -----

POWERED BY
----- End of picture text -----

==> picture [93 x 34] intentionally omitted <==

==> picture [200 x 219] intentionally omitted <==

Board of Directors

==> picture [76 x 96] intentionally omitted <==

==> picture [72 x 96] intentionally omitted <==

Peter Turnbull, AM Non-Executive Chair

Helen Fisher Jack Non-Executive Hamilton Director Non-Executive Director

Experienced Chair and NonExecutive Director with significant board and senior executive experience in the Australian and global resource, energy and technology commercialisation sectors.

CEO and Managing Director of Bio • 30 years multidisciplinary Capital Impact Fund (BCIF), a Nonexperience in local and overseas Executive director and Chair of the energy industries, including as a Audit and Risk Management Director of NWS Ventures Committee of Paradigm (Woodside North-West Shelf Biopharmaceuticals Ltd (ASX:PAR) project). and Chair of the Victorian branch of • Currently a Non-Executive AusBiotech. Director of Hazar Group (ASX:HZR). Previous NonPreviously a partner of Deloitte for Executive Director positions over 11 years, and led Deloitte’s life include AnteoTech Ltd (ASX:ADO), sciences practice in Australia for 5 Renu Energy (ASX:RNE) and DUET years, specialising in the financial Group (ASX:DUE).

Non-Executive Director of Karoon Energy Ltd. (ASX: KAR), Chair of medtech Auxita Pty Ltd, Chair of Airlie Energy, Chair of QADO Group/QADO Ventures and President of the Chartered Governance Institute (London).

Previously a partner of Deloitte for over 11 years, and led Deloitte’s life sciences practice in Australia for 5 years, specialising in the financial services sector, with significant M&A transactions and strategic tax advice to publicly listed and large multinational companies.

Chair of Calix Technology

Chair of Calix Remuneration and Nomination Committee, and Member of Audit and Risk Management Committee.

Committee, and member of Audit and Risk, and Rem and Nom Committees.

Chair of Calix Audit and Risk Management Committee and member of the Rem and Nom Committee

==> picture [93 x 34] intentionally omitted <==

==> picture [227 x 104] intentionally omitted <==

----- Start of picture text -----

Phil Dr Mark
Hodgson Sceats
Managing Executive
Director & Chief Director And
Executive Officer Chief
Scientist
----- End of picture text -----

==> picture [73 x 97] intentionally omitted <==

14 years of multidisciplinary experience with Shell, including as the General Manager and Alternate Director of its subsidiary Fuelink Pty Ltd, a $700m revenue, 300-employee distribution and sales subsidiary.
Co-founder of Calix, and a member of Calix’s Technology Committee.
Qualified physical chemist with over 52 years’ experience, numerous academic roles, and numerous fellowships and recognitions.
7 years running a private consultancy providing strategy and M&A services across energy, food, infrastructure and water sectors.
CEO of the Australian Photonics CRC for 14 years.
Author of more than 165 academic papers in physical chemistry and inventor of 55 patented inventions.
Joined Calix in 2013 as CEO, became a Director in 2014 and is a member of Calix’s Technology Committee.

Industrial decarbonisation

Calix’s mission is being propelled by net-zero commitments

Government Investor policy activity ~90% US$42tn

assets of signatories to the ‘ 2022 Global Investor Statement to Governments on the Climate Crisis ’.[2]

of global GDP now under net zero commitments.[1]

Net zero spending

==> picture [113 x 22] intentionally omitted <==

----- Start of picture text -----

US$275tn
----- End of picture text -----

Estimated spend required by 2050 to fund the global energy transition.[3]

==> picture [138 x 12] intentionally omitted <==

https://zerotracker.net/
2022 Global Investor Statement to Governments on the Climate Crisis. The Investor Agenda
The net-zero transition: What it would cost, what it could bring. McKinsey Sustainability.

FY22 financial highlights

Investment in growth

In FY22 Calix invested significantly in:

1. People , including ten new engineers, six people in R&D, and one person in finance and business development;

2. Capital items to enhance and accelerate technology development; and

3. Professional services to advance commercialisation.

The combined focus on people and ongoing fiscal prudence has enabled Calix to grow multiple successful lines of business simultaneously into large addressable markets.

Calix Limited FY22 financial result highlights

A$25m cash on hand 30 June 2022 (2021: A$15.1m)

A$18.5m FY22 Sales revenue (2021: A$19.2m)

A$5.2m FY22 Gross profit (2021: A$5.0m)

28% FY22 Gross margin (2021: 26%)

==> picture [91 x 30] intentionally omitted <==

==> picture [429 x 427] intentionally omitted <==

==> picture [120 x 32] intentionally omitted <==

Accelerating the transition to net zero by seeking to provide the most compelling decarbonisation solution for global cement and lime

Market trends

>€80/tonne average EU carbon price for H1 2022.[1]
US$85/tonne US tax credit for stored CO2.
1.4 billion tonnes of CO 2 from cement will need to be captured and
stored annually by 2050 to reach net zero.[2]

FY22 achievements

€15m (7%) equity deal with Carbon Direct.
Financial Investment Decision (FID) passed for Leilac-2.
63% growth in project pipeline.

SDG Impact

==> picture [138 x 12] intentionally omitted <==

Global Cement & Concrete Association. Getting to net zero
tradingeconomics.com/commodity/carbon

Sustainable Processing

Decarbonisation solutions for chemical and mineral processing

Market trends

Electrification of industry
45% by 2035 : industrial manufacturing target.[1]
Increasing demand for green minerals
6x growth in lithium carbonate and equivalents market expected this decade.

FY22 achievements

$20m grant for sustainable lithium salt JV with Pilbara Minerals
Zero Emissions Steel TechnologY (ZESTY) development

SDG Impact

Multiple iron ore types successfully processed with hydrogen

==> picture [138 x 12] intentionally omitted <==

Electrification in Industrials. Deloitte Insights. August 2020
Lithium mining: How new production technologies could fuel the global EV revolution - McKinsey Apr 2022

Advanced Batteries

Novel structured high power electrode materials

Market trends

Increasing demand for economical and sustainable energy storage options.
Shift to simple, affordable and safe battery chemistries.

FY22 achievements

From prototyping to pilot production of up to 200kg of Lithium Manganese Oxide (LMO) material.
Novel material testing shows:
Suitability to high power applications.
Stable structure and performance after >5500 cycles.

SDG Impact

Biotech

Novel bioactive materials for multiple global applications

Market trends

Demand for non-chemical alternative crop protection products.
Existing chemicals and pesticides are being deregistered.
Need to reduce use of copper based marine coatings
Rise in antimicrobial-resistant bacterial infections.

FY22 achievements

BOOSTER-Mag approved by APVMA
Trials show strong efficacy of MgO based marine coatings
Bioactive materials found to suppress antibiotic resistant bacteria

SDG Impact

Tier 1 partner in $112m funded project to develop and commercialise antimicrobial resistance solutions.[1]

==> picture [138 x 12] intentionally omitted <==

Cooperative Research Centre (CRC) Solving Antimicrobial Resistance in Agribusiness, Food and Environments (SAAFE) project

Water

Magnesium Hydroxide Liquid “MHL” – a safe alkali chemical

Market trends

Wastewater discharge limits are becoming tougher.
Need for environmentally friendly alternatives to existing products, such as caustic soda.

FY22 achievements

Improved gross margins.
Continued entry into new USA markets.
Positive results from trials in targeted Asia growth markets.

SDG Impact

==> picture [551 x 540] intentionally omitted <==

----- Start of picture text -----

Sustainability
Calix supports the Sustainable Development Goals
----- End of picture text -----

==> picture [93 x 34] intentionally omitted <==

Calix’s sustainability commitments

To improve environmental, social and governance practices, Calix has:

Reaffirmed its commitment to the UNGC;
Committed to measuring, monitoring and reducing its carbon footprint;
Installed solar panels at Bacchus Marsh to power the BATMn all electric calciner; and
Committed to measuring and reducing waste.

BECAUSE MARS IS FOR QUITTERS.

Governance structure and practices

To further strengthen Calix’s governance structure and practices, in FY23, the board will:

Introduce a new Code of Conduct and Board Charter;
Establish a new Sustainability Board Committee; and
Update the charters for the Audit and Risk Committee, Remuneration and Nomination Committee, and Technology Committee.

The board continues to maintain a proactive and prudent process of board renewal, with the next stage of board renewal well underway:

Appointment of additional directors, with the requisite skills and experience to bolster Calix’s growth strategies.
Commitment to meet or exceed the ASX Corporate Governance Council guidelines with respect to diversity.

==> picture [93 x 34] intentionally omitted <==

Items of Business – Item 1

==> picture [93 x 34] intentionally omitted <==

Financial Report

Consideration of Financial Report:

“To consider and discuss the Financial Report, including the Directors’ Report and the Auditor’s Report, for the year ended 30 June 2022.”

There is no vote on this item.

Items of Business – Resolution 1

==> picture [93 x 34] intentionally omitted <==

Remuneration Report

To consider and, if thought fit, to pass the following Resolution as an ordinary resolution:

“That the Remuneration Report of the Company for the financial year ended 30 June 2022, which forms part of the Directors’ Report, be adopted.”

For Resolution 1, the proxy votes received are as follows:

Resolution 1, the proxy votes rece	Resolution 1, the proxy votes rece
Proxy votes: Resolution 1
For	67,594,938
Against	987,264
Open	1,908,030
Exclusions	23,562,917
Abstained	1,423,924

Items of Business – Resolution 2

==> picture [93 x 34] intentionally omitted <==

Re-election of Peter Turnbull

To consider and, if thought fit, to pass the following Resolution as an ordinary resolution:

“That Peter Turnbull, who retires under the Constitution and, being eligible, stands for re-election, be re-elected as a Director.”

For Resolution 2, the proxy votes received are as follows:

Proxy votes: Resolution 2	Proxy votes: Resolution 2
For	82,484,274
Against	3,997,212
Open	8,841,802
Exclusions	-
Abstained	153,785

Items of Business – Resolution 3

==> picture [93 x 34] intentionally omitted <==

Non-Executive Director Fee Pool

To consider and, if thought fit, to pass the following Resolution as an ordinary resolution:

“That for the purposes of ASX Listing Rule 10.17 and Clause 13.19 of the Company’s Constitution, the maximum aggregate amount of directors’ fees that may be paid to the Company’s Non-Executive Directors per annum is increased by $400,000, from $500,000 per annum to $900,000 per annum.”

For Resolution 3, the proxy votes received are as follows:

Proxy votes: Resolution 3	Proxy votes: Resolution 3
For	64,523,245
Against	5,469,589
Open	10,373,575
Exclusions	8,790,074
Abstained	6,320,590

Online attendees – voting process

==> picture [76 x 73] intentionally omitted <==

When open, the vote will be accessible by selecting the voting tab at the top of the screen.

To vote, simply select the direction in which you would like to cast your vote. The selected option will change colour. For Against Abstain

There is no submit or send button, your selection is automatically recorded. You can change your mind or cancel your vote any time before the poll is closed.

==> picture [93 x 34] intentionally omitted <==

==> picture [365 x 344] intentionally omitted <==

==> picture [205 x 53] intentionally omitted <==

----- Start of picture text -----

POWERED BY
----- End of picture text -----

==> picture [93 x 34] intentionally omitted <==

==> picture [219 x 219] intentionally omitted <==

Important Disclaimer

==> picture [93 x 34] intentionally omitted <==

This presentation has been prepared by Calix Limited (ABN 36 117 372 540) (“Company”).

SUMMARY INFORMATION

This presentation contains summary information about the Company and its subsidiaries (“Calix”) and their activities current as at 16[th] November, 2022. The information in this presentation is a general background and does not purport to be complete.

NOT FINANCIAL PRODUCT ADVICE

This presentation is for information purposes only and is not a prospectus, product disclosure statement or other offer document under Australian law or the law of any other jurisdiction. This presentation is not financial product or investment advice, a recommendation to acquire Calix securities or accounting, legal or tax advice. It has been prepared without taking into account the objectives, financial or tax situation or needs of individuals. Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial and tax situation and needs and seek legal and taxation advice appropriate to their jurisdiction. Calix is not licensed to provide financial product advice in respect of Calix securities. Cooling off rights do not apply to the acquisition of Calix securities.

FINANCIAL DATA

All dollar values are in Australian dollars ($ or A$) and financial data is presented as at or for the full financial year ended 30 June 2021, unless stated otherwise.

PAST PERFORMANCE

Past performance information given in this presentation is given for illustrative purposes only and should not be relied upon as (and is not) an indication of the Company's views on its future financial performance or condition. Investors should note that past performance, including past share price performance, of Calix cannot be relied upon as an indicator of (and provides no guidance as to) future Calix performance including future share price performance.

FUTURE PERFORMANCE

This presentation contains certain "forward-looking statements". The words "expect", “future”, "anticipate", "estimate", "intend", "believe", "guidance", "should", "could", "may", "will", "predict", "plan" and other similar expressions are intended to identify forward-looking statements. Indications of, and guidance on, future earnings and financial position and performance are also forward-looking statements. Forward-looking statements, opinions and estimates provided in this presentation are based on assumptions and contingencies which are subject to change without notice, as are statements about market and industry trends, which are based on interpretations of current market conditions. Forward-looking statements, including projections, guidance on future earnings and estimates are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. Such forward-looking statements are by their nature subject to significant uncertainties and contingencies and are based on a number of estimates and assumptions that are subject to change (and in many cases are outside the control of Calix and its directors) which may cause the actual results or performance of Calix to be materially different from any future results or performance expressed or implied by such forward-looking statements. The forward-looking statements should not be relied on as an indication of future value or for any other purpose.. No representation, warranty or assurance (express or implied) is given or made in relation to any forward-looking statement by any person (including the Company). In particular, no representation, warranty or assurance (express or implied) is given that the occurrence of the events expressed or implied in any forward-looking statements in this presentation will actually occur. Actual results, performance or achievement may vary materially from any projections and forward-looking statements and the assumptions on which those statements are based. The forward-looking statements in this presentation speak only as of the date of this presentation. Subject to any continuing obligations under applicable law, the Company disclaims any obligation or undertaking to provide any updates or revisions to any forward-looking statements in this presentation to reflect any change in expectations in relation to any forward-looking statements or any change in events, conditions or circumstances on which any such statement is based. Nothing in this presentation will under any circumstances create an implication that there has been no change in the affairs of Calix since the date of this presentation.

INVESTMENT RISK

An investment in Calix securities is subject to investment and other known and unknown risks, some of which are beyond the control of Calix, including possible delays in repayment and loss of income and principal invested. Calix does not guarantee any particular rate of return or the performance of Calix, nor does it guarantee the repayment of capital from Calix or any particular tax treatment. Persons should have regard to the risks outlined in this presentation and appendices.

NOT AN OFFER

This presentation is not and should not be considered an offer or an invitation to acquire Calix securities or any other financial products and does not and will not form any part of any contract for the acquisition of Calix securities.

This presentation does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in the United States or to, or for the account or benefit of, any 'U.S. person‘ (as defined in Regulation S under the U.S. Securities Act (“U.S. Person”)). The new shares to be offered and sold in the placement (“Offer”) have not been, and none of them will be, registered under the U.S. Securities Act or the securities laws of any state or other jurisdiction of the United States. In addition, Calix has not been, and will not be, registered under the U.S. Investment Company Act of 1940, as amended (the "U.S. Investment Company Act") in reliance on the exception from the definition of “investment company” provided by Section 3(c)(7) thereof. The New Shares to be offered and sold in the Offer may not be offered and sold to, directly or indirectly, any person in the United States or any person that is, or is acting for the account or benefit of, a U.S. Person except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws and pursuant to an exception from the registration requirements of the U.S. Investment Company Act provided by Section 3(c)(7) thereof. This presentation may not be distributed or released in the United States or to any U.S Person. The distribution of this presentation in other jurisdictions outside Australia may also be restricted by law and any such restrictions should be observed. Any failure to comply with such restrictions may constitute a violation of applicable securities laws. Offers in Australia of the shares are only being made to persons who are “sophisticated investors” or “professional investors” (within the meaning of section 708(8) and section 708(11) of the Australian Corporations Act (Act) respectively) or otherwise pursuant to one or more exemptions under Section 708 of the Act so that it is lawful to offer the shares in Australia without disclosure to investors under Part 6D.2 of the Act.

NO ADVICE

None of Calix’s respective advisers or any of their respective affiliates, related bodies corporate, directors, officers, partners, employees and agents, have authorised, permitted or caused the issue, submission, dispatch or provision of this presentation and none of them makes or purports to make any statement in this presentation and there is no statement in this presentation which is based on any statement by any of them. For the avoidance of doubt, the advisers and their respective affiliates, related bodies corporate, directors, officers, partners, employees and agents have not made or purported to make any statement in this presentation and there is no statement in this presentation which is based on any statement by any of them. To the maximum extent permitted by law, Calix and its advisers and their respective affiliates, related bodies corporate, directors, officers, partners, employees and agents exclude and disclaim all liability, for any expenses, losses, damages or costs incurred by you as a result of your participation in the Offer and the information in this presentation being inaccurate or incomplete in any way for any reason, whether by negligence or otherwise. To the maximum extent permitted by law, Calix and its advisers and their respective affiliates, related bodies corporate, directors, officers, partners, employees and agents make no representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of information in this presentation and Calix’s advisers and its affiliates, related bodies corporate, directors, officers, partners, employees and agents, take no responsibility for any part of this presentation or the Offer. Calix and Calix’s advisers and their affiliates, related bodies corporate, directors, officers, partners, employees and agents make no recommendations as to whether you or your related parties should participate in the Offer nor do they make any representations or warranties to you concerning the Offer, and you represent, warrant and agree that you have not relied 27 on any statements made by any of them in relation to the Offer and you further expressly disclaim that you are in a fiduciary relationship with any of them. Statements made in this presentation are made only as the date of this presentation. The information in this presentation remains subject to change without notice. Calix reserves the right to withdraw the Offer or vary the timetable for the Offer without notice.

Calix at a glance

==> picture [93 x 34] intentionally omitted <==

==> picture [140 x 122] intentionally omitted <==

----- Start of picture text -----

85
Employees
At 30 June 2022
----- End of picture text -----

==> picture [424 x 245] intentionally omitted <==

----- Start of picture text -----

Electrifying industrial
processing
334KW solar installation
Cement & lime Green iron
decarbonisation & steel
Industrial
8% of global emissions 7% of global emissions
decarbonisation
----- End of picture text -----

==> picture [142 x 125] intentionally omitted <==

==> picture [530 x 540] intentionally omitted <==

----- Start of picture text -----

MARS IS FOR
QUITTERS.
----- End of picture text -----

==> picture [93 x 34] intentionally omitted <==

We believe our responsibility starts at home.

That’s why we’re driven to use our unique technology to repair and prevent future harm to it.

Because there’s only one Earth, and it’s already ours.

Calix’s core technology platform

Industrial decarbonisation and environmental solutions

==> picture [47 x 47] intentionally omitted <==

Renewable

energy-ready

Chemical / Mineral processing

==> picture [54 x 54] intentionally omitted <==

==> picture [72 x 45] intentionally omitted <==

CO 2 capture

Capture of high purity CO2 when processing limestone

==> picture [54 x 54] intentionally omitted <==

==> picture [46 x 50] intentionally omitted <==

Highly-active materials

Highly porous “honeycomb” structure = more chemical- and/or bio-activity

==> picture [55 x 54] intentionally omitted <==

Mineral “Honeycomb”

A new way to “heat stuff up”

28 patent families covering core technology and applications

A$120m has been invested to date in developing the technology

Industrial decarbonisation

Indispensable, carbon-intensive and hard-to-abate.

Cement & lime

==> picture [36 x 35] intentionally omitted <==

Over 4 billion tonnes global annual production.[4]

~8%

Unavoidable emissions released directly from limestone.
of global • 1.4 billion tonnes of CO 2 from cement needs to be
emissions[1] captured and stored annually by 2050 to reach net zero.[4]

Iron & steel

==> picture [36 x 35] intentionally omitted <==

53% of global iron ore supplied by Australia.[5]
96% of Australian iron ore is haematite.[6]

~7%

of global Decarbonisation solutions need to be resource
emissions[2] efficient & compatible with various ore grades.

Materials for a clean economy

~6x

Sustainable supply of essential minerals.

growth in lithium market by 2030[3]

45% electrification of industrial manufacturing by 2035.[7]

Market drivers

Carbon pricing 46 countries 30% of emissions[8]

>€80/tonne

average EU carbon price for H1 2022

US$85/tonne US tax credit for stored CO 2

Reduced waste and CO 2 footprint.

==> picture [138 x 12] intentionally omitted <==

Trends in global CO2 emissions; 2016 Report, The Hague: PBL Netherlands Environmental Assessment Agency 2. Climate change and the production of iron and steel. World Steel Association. 2021
Lithium mining: How new production technologies could fuel the global EV revolution - McKinsey Apr 2022 4. Global Cement & Concrete Association. Concrete Future Roadmap.
www.statista.com 6. Iron Ore | Geoscience Australia 7. Electrification in Industrials. Deloitte Insights. August 2020 8. https://zerotracker.net/

Our industrial decarbonisation solutions

Calix’s unique calcination technology separates the heat source from the chemical reaction, providing three pathways to industrial decarbonisation:

==> picture [66 x 58] intentionally omitted <==

1. Enabling the electrification of industry

Energy agnostic and electrification ready, providing flexible and economical pathways for industrial processes to enter the electric age.

==> picture [56 x 55] intentionally omitted <==

2. Enabling efficient capture of unavoidable emissions

With no additional chemicals or processes, Calix’s technology is being developed to efficiently separate process CO2 for low cost abatement of unavoidable emissions in cement and lime.

==> picture [58 x 58] intentionally omitted <==

3. Enabling green industrial processing

Zero Emissions Steel TechnologY (ZESTY) uses renewable power and hydrogen for green iron and steel.

Innovative renewably powered, at-mine refining solutions enhance recovery of ore and create near zero-waste products.

Multiple environmental business opportunities

==> picture [93 x 34] intentionally omitted <==

JV, licensing and spin-out strategies: value creation and fast-tracked commercialisation

==> picture [851 x 385] intentionally omitted <==

----- Start of picture text -----

Advanced Sustainable CO
Water Biotech 2 Leilac
Batteries Processing Mitigation
Water treatment Crop protection Advanced Renewable-powered Cement CO2 mitigation for
cathode & anode mineral and chemical cement & lime
Aquaculture Marine coatings materials processing Lime
Health and pharma
(Spodumene, iron, steel
etc)
Common technology platform
7%, €15m equity
Growing direct /
JV / licensing and / or equity farm-in / spin-out farm-in
distributor sales
----- End of picture text -----

Leilac: Scaling Up Calix’s Leilac Technology

==> picture [93 x 34] intentionally omitted <==

Leilac-1, Belgium 2019 25,000 tonnes / year CO2

Leilac-2, Hanover 100,000 tonnes / year CO2

Leilac-3 500,000 tonnes / year CO2

==> picture [852 x 362] intentionally omitted <==

----- Start of picture text -----

Built Passed FID Multiple
In Planning
20%
100%
slipstream
replace
4x
20 partners,
including:
----- End of picture text -----

BUT…we need to mitigate 1.4 billion tonnes per annum of process CO2 emissions = 3,000 Leilac-3s ~2 built every week from now until 2050 !!

FY23 – material updates

==> picture [139 x 38] intentionally omitted <==

Heidelberg Materials global licence executed

The licence agreement applies to any Heidelberg Materials facility where the Leilac technology is installed.
Heidelberg Materials operates 149 cement plants across five continents.
The technology licence fee is a first-of-a-kind for the industry, comprising:
i. A royalty floor;
ii. A variable component linked to the European carbon price/value; and iii. A royalty cap linked to costs versus alternative technologies.
The agreement requires the royalty quantums to remain commercial-inconfidence.
The technology licence is a perpetual licence with Heidelberg Materials.
Calix will retain all improvements to Calix IP.

==> picture [158 x 43] intentionally omitted <==

A growing pipeline of projects

==> picture [93 x 34] intentionally omitted <==

	Project discussions	Initial scoping	Detailed scoping / MOU	Pre-FEED / BOD	FEED	FID + construction	Operational	Total
Aug 2021	21	7	4	1			1	34
Aug 2022	25	13	9	5		1	1	54
Nov 2022	33	15	9	6	1	1 Leilac-2	1 Leilac-1	67

Pipeline growth: there are now 67 projects in the pipeline
Projects are ~ 2/3 cement and 1/3 lime, at average capacity of 500kTpa CO2 for cement and 80 kTpa CO2 for lime.
Leilac pipeline represents potential for over 20 Mtpa of CO2 abatement projects.
TARMAC project moves into FEED phase: 30kTpa lime facility with partial H2 firing and CO2 capture as part of HYNET project, UK.
Adbri – work continues on pre-FEED for a 20kTpa electric facility with CO2 capture; Boral up to 120kTpa facility – under review following cancellation of CCUS Hubs & Technologies program.[1]

==> picture [138 x 12] intentionally omitted <==

The program is being replaced by a new Carbon Capture Technologies program prioritising “ technology development for hardto-abate industrial sectors (such as cement manufacturing)”. Budget Paper No. 2, Budget Measures October 2022–23

FY23 – material updates

==> picture [120 x 49] intentionally omitted <==

Pilbara Minerals JV and development of lithium salt project

Full Documentation is in final form for JV agreement with Pilbara Minerals (ASX:PLS) for mid-stream lithium refining project.
The JV is supported by A$20m in Australian Government funding announced under the Modern Manufacturing Initiative.
The project aims to demonstrate significant benefits of Calix’s renewably powered calcination technology for lithium refining, including:
Reduced product cost
Reduced carbon emissions
Reduced waste and CO 2 footprint
At current lithium prices, the demonstration scale plant could generate ~US$190m revenue for the JV[1] on an annual basis (Calix share ~US$86m).
Financial Investment Decision targeted H1 2023.
Trading Economics https://tradingeconomics.com/commodity/lithium as at 17 October 2022 @ 0.14 Yuan / USD = ~$US74,610 per tonne Lithium Carbonate (LCE). Assumed Lithium Phosphate price = 85% LCE. Calix share of JV 45%

FY23 – material updates

==> picture [93 x 34] intentionally omitted <==

Z ero E missions S teel T echnolog Y (ZESTY)

Calix awarded ARENA funding for ZESTY development

Proposed 30,000 tpa annum, zero CO2 emissions ZESTY-iron demonstration plant.
A$947,035 ARENA grant towards BOD & FEED study.
About ZESTY:
Renewably powered
Hydrogen reduction
Compatible with multiple ore types
Compatible with fines
Targeting zero emissions Iron and Steel

FY23 Material Updates

Equity raise: A$60m institutional placement and A$20m share purchase plan (SPP) to accelerate technology commercialisation

Application A$m

Accelerate commercialisation of Leilac's cement and lime decarbonisation technology.

38.0

Construct a lithium salt demonstration processing plant in JV with 17.5

Pilbara Minerals.

ZESTY Green Iron / Steel – plant modifications, further trials and a 2.5

FEED Study for 30kTpa Demonstration Facility 4. Transaction costs ~2.0

(SPP) Accelerate electrification and alternative fuels development 20

TOTAL 80.0

==> picture [394 x 540] intentionally omitted <==

----- Start of picture text -----

39
----- End of picture text -----

==> picture [540 x 540] intentionally omitted <==

----- Start of picture text -----

Calix’s sustainability journey
Sustainability is in our
DNA. It is integral to our
culture and values, and
deeply embedded in the
reason we
exist...because Mars is
for quitters.
----- End of picture text -----

==> picture [93 x 34] intentionally omitted <==

In FY22, Calix:

Reaffirmed our commitment to the UNGC and integration of its Ten Principles.
Continued to integrate the Sustainable Development Goals in our lines of business.
Installed 334KW of solar power to cover our energy consumption in Bacchus Marsh.
Committed to measuring and reducing our impact.

Calix’s sustainability ambitions:

Diversity across all levels of management.
Ensure human rights are strictly upheld throughout our supply chain and operations.
Zero incidents of bribery and corruption.
100% sustainable material inputs by 2030.

Calix’s FY23 priorities…

⬤ Successfully completed

⬤ On track

==> picture [93 x 34] intentionally omitted <==

Continued acceleration – especially decarbonisation projects…

⬤ Watch point

==> picture [61 x 61] intentionally omitted <==

Water

==> picture [61 x 60] intentionally omitted <==

Biotech

==> picture [61 x 62] intentionally omitted <==

Advanced Batteries

==> picture [61 x 61] intentionally omitted <==

Sustainable Processing

==> picture [91 x 91] intentionally omitted <==

Crop protection Water treatment Marine coatings Aquaculture Health & pharma

Advanced cathode & Renewable-powered mineral anode materials & chemical processing

CO2 mitigation for cement & lime

US: At least

Crop Protection

⬤ 2 new plants ⬤ 3rd licence agreement
⬤ A second major new US state entry

Marine Coatings

⬤ Successful phase 2 trials with MTA partners

China:

⬤ Re-establish market entry
⬤ Next new biotech application…health/pharma

EU:

⬤ Successful initial in-vivo studies
⬤ Re-establish market entry
⬤ First battery module – commercial format
⬤ Basis of Design – demonstration facility for cathode production
⬤ At least 1 new chemistry = pouch cell success

Refractories

⬤ Convert MOU to full Project or licence agreement

Spodumene

⬤ Full JV agreement
⬤ Successful FEED study leading to FID

Iron and Steel

⬤ Successful expanded ore program
⬤ Convert at least two MOUs to full project / licence agreements – “full-scale” application
⬤ Convert at least 2 projects from BODs to FEED studies
⬤ Leilac-2 long lead items procured, site works commenced
⬤ Basis of Design: Demonstration facility

==> picture [93 x 34] intentionally omitted <==

==> picture [35 x 34] intentionally omitted <==

Managing Director & CEO [email protected] +61 2 8199 7400 Investor relations [email protected]

CFO & Company Secretary [email protected] +61 2 8199 7400 Media enquiries [email protected]

==> picture [26 x 28] intentionally omitted <==

Subscribe to our Newsletter 43

==> picture [313 x 540] intentionally omitted <==

==> picture [91 x 30] intentionally omitted <==

Board of Directors, Equity Structure Glossary

==> picture [225 x 108] intentionally omitted <==

Board of Directors

==> picture [76 x 96] intentionally omitted <==

==> picture [72 x 96] intentionally omitted <==

Peter Turnbull, AM Non-Executive Chair

Helen Fisher Jack Non-Executive Hamilton Director Non-Executive Director

Experienced Chair and NonExecutive Director with significant board and senior executive experience in the Australian and global resource, energy and technology commercialisation sectors.

Chair of Calix Technology

Chair of Calix Remuneration and Nomination Committee, and Member of Audit and Risk Management Committee.

Committee, and member of Audit and Risk, and Rem and Nom Committees.

Chair of Calix Audit and Risk Management Committee and member of the Rem and Nom Committee

==> picture [93 x 34] intentionally omitted <==

==> picture [227 x 104] intentionally omitted <==

----- Start of picture text -----

Phil Dr Mark
Hodgson Sceats
Managing Executive
Director & Chief Director And
Executive Officer Chief
Scientist
----- End of picture text -----

==> picture [73 x 97] intentionally omitted <==

14 years of multidisciplinary experience with Shell, including as the General Manager and Alternate Director of its subsidiary Fuelink Pty Ltd, a $700m revenue, 300-employee distribution and sales subsidiary.
Co-founder of Calix, and a member of Calix’s Technology Committee.
Qualified physical chemist with over 52 years’ experience, numerous academic roles, and numerous fellowships and recognitions.
7 years running a private consultancy providing strategy and M&A services across energy, food, infrastructure and water sectors.
CEO of the Australian Photonics CRC for 14 years.
Author of more than 165 academic papers in physical chemistry and inventor of 55 patented inventions.
Joined Calix in 2013 as CEO, became a Director in 2014 and is a member of Calix’s Technology Committee.

Listed on the ASX in July, 2018

ASX:CXL

==> picture [93 x 34] intentionally omitted <==

Share Price Performance Since Listing

==> picture [381 x 148] intentionally omitted <==

Further Equity Detail	As at 11 Nov 2022
Free Float	175.5m shares
Employee Incentive Scheme Options	6.0m options

	As at 11 Nov 2022
Shares on issue	~161.6m
Share price on IPO	$0.62 per share
Current Share price	$4.81 per share
Market capitalisation	~$842m

Major shareholders	As at 11 Nov 2022
Board & Management	13.4%
Australian Super Pty Ltd	10.7%
Nicholas Merriman and associates	6.3%

Glossary

==> picture [93 x 34] intentionally omitted <==

Term	Meaning
Aluminium (Al)	Chemical element with the symbol Al
Anode	The negative electrode of a battery
APVMA	Australian Pesticides and Veterinary Medicines Authority
BATMn	Calix’s core kiln technology – electrified – for battery and catalyst materials production
C, 2C, 4C, D	Charge rate, 1 C = charge in 1 hour, 2C charge in 30 min, 4C charge in 15 min etc. D is discharge – same metrics
Calcium (Ca)	Chemical element with the symbol Ca
Carbonation	The capture of carbon dioxide by contacting with lime (calcium oxide), to form limestone (calcium carbonate)
Cathode	The positive electrode of a battery
CCS	Carbon Capture and Storage
CCUS	Carbon Capture, Utilisation and Storage
CO2	Carbon Dioxide
Copper (Cu)	Chemical element with the symbol Cu
EBITDA	Earnings Before Interest, Tax, Depreciation and Amortisation
Electrode	The material that stores the lithium ions in a charged (anode) or discharged (cathode) state in a lithium ion battery
Electrolyte	The medium that allows ions to move between the battery electrodes, via the separator
ESG	Environment, Social and Governance considerations
FID	Final Investment Decision
Fines	Small particles, which are usually very difficult to handle in kilns etc as they simply get blown out
Green Hydrogen	Hydrogen that is produced from and electrolyser using renewable energy
HBI	Hot Briquetted Iron – “bricks” of relatively high purity iron ready for steel-making
HPO	“Hierarchical Porous Onion” - a crystal structure of lithium manganese oxide resembling tiny onion layers – allowing both strength and easier passage of lithium ions

Glossary

==> picture [93 x 34] intentionally omitted <==

Term	Meaning
Iron	The chemical element, represent by “Fe” on the periodic table
Iron Ore	Iron oxide mixed with various other minerals, as mined and “pre-processed” (purified) as best as possible
LFP	Lithium Iron Phosphate – a battery cathode material
LMO	Lithium Manganese Oxide – a battery cathode material
Lithium (Li)	Chemical element with the symbol Li
Lithium Concentrate / Lithium Salt / “Mid-Stream” Lithium	A form of lithium that is high in lithium content, to be shipped and utilised by battery producers
Lithium ion	The ionic form of lithium (Li+) – a positively charged atom of lithium
LTO	Lithium Titanium Oxide – a battery anode material
LEILAC	Calix’s core kiln technology for Low Emissions Intensity Lime and Cement production with CO2capture
Manganese Carbonate (MnCO3)	Form of manganese used mainly in agriculture as a fertiliser supplement
Magnesium (Mg)	Chemical element with the symbol Mg
Manganese (Mn)	Chemical element with the symbol Mn
Metallurgical Coal	Very high carbon coal
MgO	Magnesium Oxide
MHL	Magnesium Hydroxide Liquid

Glossary

==> picture [93 x 34] intentionally omitted <==

Term	Meaning
Nickel (Ni)	Chemical element with the symbol Ni
NCA	A battery cathode material made from nickel, aluminium and cobalt
NCM, or NMC	A battery cathode material made from nickel, manganese and cobalt
Pelletisation	The formation of pellets from finer materials to aid in handling
Potassium (K)	Chemical element with the symbol K
Separator	The barrier between the anode and the cathode that prevents them touching, inside the battery
Sodium (Na)	Chemical element with the symbol Na
Spodumene	A high lithium-containing ore, and the source of the majority of the world’s lithium supply
α-Spodumene	A tight Li-crystal formation, from which extraction of Li is difficult
β-Spodumene	A loose Li-crystal formation, from which extraction of Li is much easier than the alpha-form
Reduce / Reduction	The process by which oxygen is removed
Reductant	A material that, through its chemical properties, carries out reduction
Sponge Iron	Iron Ore that has been reduced (had the oxygen removed)
Steel	Mainly iron, with some carbon and other trace metals such as nickel, manganese etc depending upon the grade of steel being made
Sulphur (S)	Chemical element with the symbol S
Tpa	Tonnes per annum
Wh / kWh	Watt-hours / kilowatt-hours - a measure of energy

==> picture [93 x 34] intentionally omitted <==

==> picture [35 x 34] intentionally omitted <==

Managing Director & CEO [email protected] +61 2 8199 7400 Investor relations [email protected]

CFO & Company Secretary [email protected] +61 2 8199 7400 Media enquiries [email protected]

==> picture [26 x 28] intentionally omitted <==

Subscribe to our Newsletter 50

AI assistant

CALIX LIMITED — AGM Information 2022

64736_rns_2022-11-15_5c777cd3-a5d6-441f-a1e5-954d226dbae6.pdf

16 November 2022

Calix AGM 2022 Presentation Pack

–ENDS–

About Calix

For more information:

Investor enquiries

Media enquiries

Online attendees – text question process

Online attendees – audio question process

Online attendees – audio question process

Online attendees – voting process

Board of Directors

Industrial decarbonisation

FY22 financial highlights

Calix Limited FY22 financial result highlights

Market trends

FY22 achievements

SDG Impact

Sustainable Processing

Market trends

FY22 achievements

SDG Impact

Advanced Batteries

Market trends

FY22 achievements

SDG Impact

Biotech

Market trends

FY22 achievements

SDG Impact

Water

Market trends

FY22 achievements

SDG Impact

Calix’s sustainability commitments

BECAUSE MARS IS FOR QUITTERS.

Governance structure and practices

Items of Business – Item 1

Consideration of Financial Report:

Items of Business – Resolution 1

Remuneration Report

To consider and, if thought fit, to pass the following Resolution as an ordinary resolution:

Items of Business – Resolution 2

To consider and, if thought fit, to pass the following Resolution as an ordinary resolution:

For Resolution 2, the proxy votes received are as follows:

Items of Business – Resolution 3

Non-Executive Director Fee Pool

To consider and, if thought fit, to pass the following Resolution as an ordinary resolution:

For Resolution 3, the proxy votes received are as follows:

Online attendees – voting process

Important Disclaimer

SUMMARY INFORMATION

NOT FINANCIAL PRODUCT ADVICE

FINANCIAL DATA

PAST PERFORMANCE

FUTURE PERFORMANCE

INVESTMENT RISK

NOT AN OFFER

NO ADVICE

Calix at a glance

Calix’s core technology platform

Renewable

energy-ready

CO 2 capture

Highly-active materials

A new way to “heat stuff up”

Industrial decarbonisation

Cement & lime

Iron & steel

Materials for a clean economy

Market drivers

>€80/tonne

Our industrial decarbonisation solutions

1. Enabling the electrification of industry

2. Enabling efficient capture of unavoidable emissions

3. Enabling green industrial processing

Multiple environmental business opportunities

CALIX LIMITED AGM Information 2022