CALIX LIMITED — Capital/Financing Update 2021

Jul 5, 2021

6[th] July 2021

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ASX Announcement

Calix executes MOU for UK Lime Calciner Project with Tarmac

Highlights:

• Calix and Tarmac (https://tarmac.com/) have executed a Memorandum of Understanding ( MOU ) covering the co-development of a Calix calciner for lime production with CO2 capture, for a site to be determined in the UK

• The MOU outlines the intent of the parties to conduct feasibility and Front-End Engineering Design ( FEED ) studies on the project covering lime production of around 30kTpa, including demonstration of 20kTpa CO2 capture and the potential for various fuel options (including natural gas, hydrogen and electricity)

• The project is framed around a two-phase approach to a Final Investment Decision ( FID ) on the plant, and will seek appropriate funding under the UK Department of Business, Energy and Industrial Strategy ( BEIS ) £1b Net Zero Innovation Portfolio, or similar

• Tarmac is the UK’s leading sustainable building materials and construction solutions business, and a participant in the LEILAC-1 Project with Calix

• Commercial terms are still to be agreed between the parties for on-going licensing of the technology

Sydney, Australia 6[th] July 2021 – Multi-award-winning Australian technology company Calix Limited

(ASX:CXL, Calix or the Company ) is pleased to announce it has executed an MOU covering the development of a lime project for lime production, with CO2 capture and multi-fuel options, with Tarmac (https://tarmac.com/ ), the UK’s leading sustainable building materials and construction solutions business.

The production of lime currently emits roughly 1 tonne of CO2 per 1 tonne of lime produced. Lime is used extensively in producing cement, glass, and pulp and paper. The UK Government became the first major economy to commit to net zero CO2 by 2050 in June 2019 and is heavily supporting decarbonisation efforts through funding under the UK Department of Business, Energy and Industrial Strategy £1b Net Zero Innovation Portfolio.

The MOU is binding on the parties with respect to confidentiality, commitment to completing a phase 1 feasibility study and subject to a successful study, commitment to completing a full phase 2 FEED, targeting Q2 2022 completion. Progression beyond this, if agreed, would see:

• construction targeting completion within approximately another 18 months, and

• commercial demonstration over a further two years, potentially on multiple fuel / energy options. including natural gas, hydrogen, and renewable electricity.

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Calix CEO and MD Phil Hodgson said: “Hot on the heels of our recent announcement for a world-first, zero emissions lime kiln with ADBRI in Australia, we are now proud to be working with Tarmac in the UK on a second project of equal ambition. Lime is one of the most important industrial products globally, and it is great to be developing this in partnership with Tarmac, with whom we have had a long association as part of the LEILAC Project consortium.”

Tarmac Lime Business Development manager, David Wilson said: “This project fully aligns with Tarmac’s strategic ambitions to decarbonise. As a key supplier of construction solutions, Tarmac recognises the role the sector and its business has to play. Tarmac has fully committed to supporting the UK’s ambition of net-zero carbon emissions by 2050 and is making progress right across our business and supply chain, using a whole life-cycle approach to design CO2 out of our products and services.”

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

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About Calix

Calix is a team of dedicated people developing a unique, patented technology to provide industrial solutions that address global sustainability challenges.

The core technology is being used to develop more environmentally friendly solutions for sustainable processing, advanced batteries, crop protection, aquaculture, wastewater and carbon reduction.

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 Managing Director and CEO phodgson@calix.com.au +61 2 8199 7400

Darren Charles CFO and Company Secretary dcharles@calix.com.au +61 2 8199 7400

Simon Hinsley Investor Relations simon@nwrcommunications.com.au +61 401 809 653

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