CALIX LIMITED — Capital/Financing Update 2021

Apr 12, 2021

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ASX Announcement

13 April, 2021

Calix raises $5m in strongly supported Share Purchase Plan

Highlights:

• Calix has successfully closed its Share Purchase Plan ( SPP ) on April 8, with nearly $20m in subscriptions received.

• As a result of the strong level of support received from existing shareholders, Calix has increased the original $3m SPP to accept $5m.

• Calix’s ESG investment acceleration program is now fully funded as announced on March 19, 2021, through the SPP and the $14m Share Placement ( Placement ) to sophisticated and professional investors completed on March 24, 2021.

Sydney, Australia | April 13, 2021 – Multi-award-winning Australian technology company Calix Limited (ASX:CXL, ‘ Calix ’ or ‘ the Company ’) is pleased to announce the successful completion of its SPP, first announced on March 19, 2021.

Calix received nearly $20m in subscriptions for the $3m SPP ahead of its closure on April 8, 2021. Given the very high demand, the Company has decided to increase the SPP to $5m to accommodate interest as best as it is able. Allocation was based upon individual share holdings as at March 18, 2021, with a sliding scale-back depending upon holdings. The SPP follows a $14m Placement to sophisticated and professional investors completed in March 2021.

Funds raised will allow Calix to invest further in its battery development program building on very encouraging results, and accelerate other lines of its business, including development programs for water, CO 2 migration, biotech and sustainable processing projects.

Calix CEO and MD, Phil Hodgson, said, “We have an exciting portfolio of projects in our development pipeline and the strong level of support received from existing shareholders further validates our strategy of providing solutions to a range of global sustainability challenges.

We look forward to accelerating our ESG investment program, which we believe will both deliver value to shareholders and address critical sustainability challenges around the world.”

Calix offered the SPP to existing eligible shareholders in Australia and New Zealand, who could each apply for up to $30,000 worth of new shares. The SPP, which was not underwritten, was conducted at the same offer price as the Placement of $2.00 per new share, which represented a 11.1% discount to Calix’s closing price of $2.25 on March 16, 2021, and a 6.8% discount to the 10-day Volume Weighted Average Price ( VWAP ) of the shares on that date.

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Calix has issued 2,500,000 new shares under the SPP, which have been allotted with holding statements dispatched on April 13, 2021, and commencement of trading on the ASX on April 14, 2021.

The Placement and SPP have strengthened Calix’s balance sheet, with $19m additional cash at bank, following completion of the SPP.

Holders with EFT details recorded will be paid today and should receive funds on April 14, 2021. Those without EFT details will be sent a cheque, which may take several days to process and send.

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

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 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 Darren Charles Managing Director and CEO CFO and Company Secretary phodgson@calix.com.au dcharles@calix.com.au

Simon Hinsley

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

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