CALIX LIMITED — Capital/Financing Update 2021

Mar 29, 2021

30 March, 2021

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ASX Announcement

Calix executes Heads of Agreement with Adbri for Lime Calciner Project

Highlights:

• Calix and Adbri have executed a Heads of Agreement covering the co-development of a Calix calciner for lime production with CO 2 capture

• The Heads of Agreement outlines the intent of the parties to commence feasibility work on the project covering lime production of around 30kTpa, including demonstration of 20kTpa CO 2 capture and multiple fuel options (including natural gas, hydrogen and electricity)

• The project is framed around a 5–year development and demonstration program, and will also seek appropriate funding under the Federal Government’s low emissions technology roadmap

• The project represents a world-first development of a commercial-scale, zero-emissions lime production facility

• Commercial terms are still to be agreed between the parties, but may involve an investment for Calix under a build / own / operate / transfer (“ BOOT ”) arrangement once key performance metrics have been achieved, or a build / demonstrate / remove option if Calix retains the asset

Sydney, Australia | 30 March, 2021 – Multi-award-winning Australian technology company Calix Limited (ASX: CXL, ‘Calix’ or ‘the Company’), is pleased to announce it has executed a Heads of Agreement covering the development of a lime project for lime production, with CO 2 capture and multi-fuel options, with Adbri Limited (ASX:ABC).

The production of lime currently emits roughly 1 tonne of CO 2 per 1 tonne of lime produced. Lime is used extensively in producing steel, aluminium, rare earths, gold and many other minerals and is thus a significant contributor to those important industries’ carbon footprints. With the EU announcing the intention to erect trade barriers on the basis of carbon, and with other economies likely to follow, it is vital Australian industry start to adapt to producing lower carbon footprint products to maintain export viable industries.

The Heads of Agreement is binding on the parties’ with respect to confidentiality, but is otherwise non-binding, and outlines the parties’ intent to progressing a feasibility study covering site selection, raw materials and proof of marketable product, and basis of design covering CO2 capture from lime production, and multi-fuel / energy options, targeting early 2022 completion. Progression beyond this first milestone, if agreed (including commercial terms for IP licensing), would see;

• front-end engineering, design and construction targeting completion within another 18 months, and

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

At the conclusion of the study, the plant would either be transferred under a BOOT commercial arrangement, or dismantled and removed if it remains a Calix-owned asset.

Calix CEO and MD Phil Hodgson said “We have seen a significant increase in inbound enquiries in Calix technology driven by the rapidly increasing interest in Environment, Social and Governance, from countries, companies and investors. This important project is a world-first in ambition to produce zero-emissions lime, one of the most important industrial products globally, and it is great to be developing this in partnership with Adbri, in an Australian project, with Australian technology.”

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 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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