CONNECTED MINERALS LIMITED — Capital/Financing Update 2021

May 27, 2021

CONNECTED IO LIMITED

(ACN 009 076 233)

28 May 2021

Dear Shareholder

CONNECTED IO LIMITED - PRO-RATA NON-RENOUNCEABLE ENTITLEMENT OFFER

As announced on 28 May 2021, Connected IO Limited (ACN 009 076 233) ( Company ) is undertaking a pro rata non-renounceable entitlement offer of up to approximately 533,079,662 shares ( Offer ) to raise up to approximately $1,066,159 on the basis of 1 new share ( New Share ) for every 1 share held at an issue price of $0.002 per New Share. The Company expects to lodge an offer document for the Offer ( Offer Document ) with the ASX today.

The Offer is fully underwritten by 708 Capital Pty Ltd.

The funds raised from the Offer are planned to be used towards operational costs, expenses of the Offer and working capital.

New Shares will rank equally with all fully paid ordinary shares in the capital of the Company ( Shares ) already on issue.

The Offer is being made to all shareholders of the Company ( Shareholders ) named on its register of members at 5:00 pm (WST) on 2 June 2021 ( Record Date ), whose registered address is in Australia or New Zealand.

The Offer is being made by the Company in accordance with section 708AA of the Corporations Act 2001 (Cth) ( Corporations Act ) as notionally modified by the ASIC Corporations (Non-Traditional Rights Issues) Instrument 2016/84 , meaning that no prospectus or other disclosure document needs to be prepared.

Eligible Shareholders are shareholders who:

• (a) are a registered holder of fully paid ordinary shares in the Company as at 5:00 pm (WST) on the Record Date;

• (b) have a registered address in Australia or New Zealand as at 5:00 pm (WST) on the Record Date; and

• (c) are eligible under all applicable securities laws to receive an offer under the Offer without any requirement for a prospectus, disclosure document, or any lodgement, filing, registration or qualification.

Ineligible shareholders

A Shareholder who has a registered address outside Australia or New Zealand ( Ineligible Shareholder ) will not be eligible to participate in the Offer.

You are not eligible to participate in the Offer and you will not be sent a copy of the Offer Document. This decision has been made pursuant to Listing Rule 7.7.1(a) of the ASX Listing Rules after taking into consideration the costs of complying with legal and regulatory requirements in jurisdictions outside of Australia or New Zealand compared with the small number of Ineligible Shareholders and the number and value of New Shares to which they would otherwise be entitled.

If you have any queries concerning the Offer, please contact Adam Sierakowski, Chairman, on 08 6211 5099.

Yours sincerely

Adam Sierakowski Chairman