CALIX LIMITED — Capital/Financing Update 2022

Nov 14, 2022

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15 November 2022

Calix raises A$21.6m in Share Purchase Plan

Sydney, Australia | 15 November 2022 – Australian environmental technology company, Calix Limited (ASX: CXL) ( Calix or the Company ) is pleased to announce the successful completion of its Share Purchase Plan ( SPP ), first announced on 19 October 2022.

Highlights:

• Calix has successfully closed its SPP, raising a total of A$21.6m at an issue price of A$4.24 per new share.

• The proceeds from the SPP will accelerate the development of alternative energy options, including electrification and the use of alternative fuels.

• Calix’s equity raising to accelerate commercialisation of its technology platform for industrial decarbonisation is now complete.

Calix has accepted a total of A$21.6m in subscriptions for its SPP. The SPP aimed to raise A$20.0m. The increased size of the SPP enables all existing shareholders to receive their full allocation under the SPP.

New, fully paid, ordinary shares in Calix offered under the SPP (SPP Shares) will be issued at A$4.24 per SPP Share, which is a 2.5% discount to the volume weighted average price of ordinary shares in Calix traded on the Australian Securities Exchange ( ASX ) over the five trading days up to, and including, the SPP close at 5.00pm (AEDT) on Thursday, 10 November 2022.

The SPP follows a A$60m institutional placement ( Placement ) at an offer price of A$4.55 per new Placement share.

Equity raising for accelerated technology development for industrial decarbonisation

The proceeds from the SPP will be used to broaden the range of alternative fuel options for the Leilac technology and further develop the application of electric calcination into multiple industries.

The proceeds from the Placement will accelerate commercialisation of Leilac’s cement and lime decarbonisation technology; construct a lithium salt demonstration processing plant in a joint venture with Pilbara Minerals (ASX: PLS); and fund a Front-End Engineering and Design (FEED) study for a Zero Emissions Steel TechnologY (ZESTY) green iron demonstration plant.

Calix Managing Director and CEO, Phil Hodgson, said:

“Calix is delighted to complete an equity raising to accelerate commercialisation of Calix’s technology for industrial decarbonisation.

“Our strategy of fast-tacking commercialisation through a combination of joint ventures, licensing and spin-out strategies has enabled multiple applications of our core technology to be developed simultaneously, each targeted at a specific and significant market need. The funds raised provide Calix

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with the balance sheet strength to accelerate this development and further realise the potential of Calix’s core technology platform.

“We are grateful to our shareholders, old and new, for their support and belief in Calix’s mission.”

Details of the Share Purchase Plan

Calix offered the SPP to existing eligible shareholders in Australia and New Zealand. Eligible shareholders could each subscribe for up to $30,000 worth of SPP Shares without incurring brokerage or other transaction costs. The SPP Shares will rank equally with existing ordinary shares from their date of issue.

Calix will issue approximately 5.1m new SPP Shares under the SPP. Allotment of SPP Shares issued under the SPP will occur on Thursday, 17 November, and holding statements in respect of the SPP Shares issued under the SPP will be dispatched on Friday, 18 November.

–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

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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 phodgson@calix.com.au dcharles@calix.com.au +61 2 8199 7400 +61 2 8199 7400

Investor enquiries investorrelations@calix.global

Media enquiries media@calix.global

IMPORTANT NOTICE

This announcement may not be released to US wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or in any other jurisdiction in which such an offer would be unlawful. The SPP Shares have not been, and will not be registered under the US Securities Act of 1933, as amended (US Securities Act) or the securities laws of any state or other jurisdiction of the United States. Accordingly, the SPP Shares may not be offered or sold, directly or indirectly, in the United States unless they have been registered under the US Securities Act (which Calix has no obligation or intention to do or procure), or are offered and sold in a transaction exempt from, or not subject to, the registration requirements of the US Securities Act and any applicable U.S. state securities laws.

The information in this announcement is of general background and does not purport to be complete. It should be read in conjunction with Calix’s other periodic and continuous disclosure announcements lodged with ASX Limited, which are available at www.asx.com.au.