CALIX LIMITED — Capital/Financing Update 2022

Oct 19, 2022

==> picture [596 x 68] intentionally omitted <==

20 October 2022

NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES.

Calix completes $60m institutional placement to accelerate commercialisation of industrial decarbonisation technology

Sydney, Australia | 20 October 2022 – Australian environmental technology company, Calix Limited (ASX: CXL) ( Calix or the Company ) is pleased to announce today the successful completion of its fully underwritten A$60m institutional placement ( Placement ) at an offer price of A$4.55 per new share. The Placement received strong support from local and international investors, including existing eligible shareholders and also new institutions.

Accelerating commercialisation of Calix’s industrial decarbonisation technology

Funds raised from the Placement will be used to accelerate commercialisation of the Calix technology platform and enable further technology development targeted at significant strategic market opportunities.

Calix Managing Director and Chief Executive Officer, Dr Phil Hodgson said: “We are thrilled with the strong support for the Placement from a broad range of high quality, local and international funds, endorsing our accelerated commercialisation strategy. We remain focused on urgently developing great businesses that deliver positive global impact through our patented technology. The combination of joint ventures, licensing and spin-out strategies is helping us deliver on this promise.”

New ordinary fully paid shares ( New Shares ) issued under the Placement will rank equally with existing Calix ordinary shares on issue. Allotment of the New Shares issued under the Placement is expected to occur on Tuesday, 25 October 2022 with trading of the New Shares commencing on the ASX on the same date.

Share Purchase Plan

As announced on Wednesday, 19 October 2022, Calix is also offering eligible shareholders the opportunity to acquire up to A$30,000 in New Shares in the non-underwritten Share Purchase Plan ( SPP ) to raise up to a further A$20m (which may be varied or subject to scale back at the Company’s absolute discretion). This represents an increased offer size, both on an absolute and relative basis, from the A$5m SPP completed on 8 April 2021 and recognises the strong ongoing support from the Company’s retail investor base.

The SPP issue price will be the lower of:

• (i) the issue price under the Placement (being A$4.55); or

• (ii) the price that is a 2.5% discount to the volume weighted average price of Calix shares on the ASX over the five trading days up to, and including, the SPP closing date.

The SPP Booklet and Application Form will be released on the ASX separately and despatched to eligible shareholders on or about Wednesday, 26 October 2022, being the date that the SPP will open.

==> picture [596 x 68] intentionally omitted <==

Application Forms and payments are due no later than 5:00pm Thursday, 10 November 2022, being the date the SPP will close.

The New Shares issued under the SPP will rank equally with existing Calix fully paid ordinary shares on issue. Allotment of the New Shares issued under the SPP is expected to occur on Thursday, 17 November 2022.

Further information can be found in the announcement and investor presentation titled “Calix Limited Investor Presentation October 2022” released to the ASX on Wednesday, 19 October 2022.

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

IMPORTANT NOTICE

This announcement has been prepared for publication in Australia and 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 New 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 New 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.