CALIX LIMITED — Capital/Financing Update 2025

Apr 8, 2025

9 April 2025

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Calix water treatment products exempt from U.S.

tariffs

Sydney, Australia | 9 April 2025 – Australian environmental technology company, Calix Limited (ASX: CXL) (“Calix”) announces today that its water treatment products sold in the United States (“U.S.”) are exempt from tariffs announced by the Trump administration.

Calix imports magnesium oxide from Canada to the U.S. as a feedstock to make products within its U.S. Magnesia business. Goods imported into the U.S. that are compliant with the United States-Mexico-Canada Agreement (USMCA) are excluded from the imposed tariffs. Magnesium oxide from Canada complies with a country-of-origin test under the USMCA. The USMCA is valid to 2036.

Calix’s Magnesia products service the critical water treatment industry, providing a more economical and environmentally friendly solution to alternative water treatment products such as caustic soda. The U.S. has a net reliance on imports of magnesia of 52%[1] . The majority of these imports (61%) come from China[2] , and as such can be expected to be subject to tariffs recently imposed.

As reported at Calix’s 1H FY25 results[3] , Calix’s Magnesia business accounted for 79% of the Group’s revenue, while U.S. product sales accounted for 64% of total Group revenue. Calix expects to record continued revenue growth in its Magnesia business in 2H FY25 relative to 1H FY25.

Calix will continue to provide updates to the market regarding further developments as they relate to the Company.

–ENDS–

Important Disclaimer

This announcement contains certain "forward-looking statements". The words "expect", “future”, "anticipate", "estimate", "intend", "believe", "guidance", "should", "could", "may", "will", "predict", "plan" and other similar expressions are intended to identify forward-looking statements. Indications of,

1 Based on USGS data for 2024, reported by Industrial Minerals Forums & Research Networking. Industrial minerals US trade war threat. Updated 2 Apr 2025

2 Based on USGS data for 2024, reported by Industrial Minerals Forums & Research Networking. Industrial minerals US trade war threat. Updated 2 Apr 2025

3 Calix ASX Announcement: Calix Interim Report 1H FY25. 26 Feb 2025

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and guidance on, future earnings and financial position and performance are also forward-looking statements.

Forward-looking statements, opinions and estimates provided in this announcement are based on assumptions and contingencies which are subject to change without notice, as are statements about market and industry trends, which are based on interpretations of current market conditions. Forward-looking statements, including projections, guidance on future earnings and estimates are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. Such forward-looking statements are by their nature subject to significant uncertainties and contingencies and are based on a number of estimates and assumptions that are subject to change (and in many cases are outside the control of Calix and its directors) which may cause the actual results or performance of Calix to be materially different from any future results or performance expressed or implied by such forward-looking statements.

The forward-looking statements should not be relied on as an indication of future value or for any other purpose. No representation, warranty or assurance (express or implied) is given or made in relation to any forward-looking statement by any person (including the Company). In particular, no representation, warranty or assurance (express or implied) is given that the occurrence of the events expressed or implied in any forward-looking statements in this presentation will actually occur. Actual results, performance or achievement may vary materially from any projections and forward-looking statements and the assumptions on which those statements are based. The forward-looking statements in this announcement speak only as of the date of this announcement.

Subject to any continuing obligations under applicable law, the Company disclaims any obligation or undertaking to provide any updates or revisions to any forward-looking statements in this announcement to reflect any change in expectations in relation to any forward-looking statements or any change in events, conditions or circumstances on which any such statement is based. Nothing in this announcement will under any circumstances create an implication that there has been no change in the affairs of Calix since the date of this announcement.

This announcement has been authorised for release to the ASX by the Calix Board of Directors.

About Calix

Calix Limited (ASX: CXL) is an environmental technology company solving urgent global challenges in industrial decarbonisation and sustainability.

Calix’s unique patented core platform technology delivers indirect heating of raw materials to enable efficient, precise, flexible and renewably powered mineral processing and capture of unavoidable industrial emissions.

With strong and increasing demand driven by global decarbonisation commitments, Calix is

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applying its core technology to the cement, steel, alumina and critical minerals industries, as well as the direct air capture of atmospheric carbon dioxide, and the production of sustainable environmental products.

Leveraging its core platform technology and a global network of partners, Calix is urgently developing multiple businesses that deliver positive global impact. Because there’s only one Earth. Mars is for quitters.

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 Media enquiries investorrelations@calix.global media@calix.global