CONNECTED MINERALS LIMITED — Capital/Financing Update 2021

May 27, 2021

CONNECTED IO LIMITED

(ACN 009 076 233)

PRO-RATA NON-RENOUNCEABLE ENTITLEMENT OFFER

NOTICE UNDER SECTION 708AA(2)(F) OF THE CORPORATIONS ACT 2001 (CTH)

On 28 May 2021, Connected IO Limited ( Company ) announced that it would make a pro rata non-renounceable entitlement offer ( Offer ) of shares in the Company ( New Shares ) to all shareholders with a registered address in Australia or New Zealand recorded on the Company's share register at the record date ( Eligible Shareholders ).

The Company confirms the Offer is being made without a disclosure document pursuant to section 708AA of the Corporations Act 2001 (Cth) ( Act ) as varied by ASIC Corporations (Non-Traditional Rights Issue) Instrument 2016/84. Pursuant to section 708AA of the Act the Company provides the following information:

• (a) the Company will offer the New Shares for subscription without disclosure to investors under Part 6D.2 of the Act;

• (b) the Company is providing this notice under section 708AA(2)(f) of the Act;

• (c) as at the date of this notice the Company has complied with:

  • (i) the provisions of Chapter 2M of the Act as they apply to the Company; and

  • (ii) section 674 of the Act;

• (d) as at the date of this notice there is no information:

  • (i) that has been excluded from a continuous disclosure notice in accordance with ASX Listing Rules; and (ii) that investors and their professional advisers would reasonably require for the purpose of making an informed assessment of:

    • (1) the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or

    • (2) the rights and liabilities attaching to the New Shares.

• (e) the potential effect that the issue of the New Shares pursuant to the Offer will have on the control of the Company, and the consequences of that effect, will depend on a number of factors, including investor demand. If all Shareholders subscribe for their entitlements under the Offer, then all Shareholders will retain their percentage ownership in the Company, and the issue of New Shares under the Offer is not expected to have any material effect on the control of the Company. To the extent that any eligible Shareholder fails to take up their entitlement, that eligible Shareholder’s percentage ownership in the Company will be diluted by those other Shareholders who take up some, all or more than their entitlements and allocation of the shortfall under the underwriting agreement between the Company and 708 Capital Pty Ltd.

ABOUT CONNECTED IO

Connected IO Limited has its operations based in Dallas, in the USA. Its business is a wireless technology innovator and manufacturer operating in the multi-trillion-dollar “IOT” ( Internet of Things ) sector. CIO specializes in machine to machine ( M2M ) connectivity, providing hardware and software solutions to some of the world’s largest companies. CIO’s software solutions also include a customised cloud management interface and a variety of support services. Cisco predicts there will be 50 billion connected devices by 2020.

For further information regarding this announcement please contact Adam Sierakowski, Chairman of Connected IO Limited on 08 6211 5099.

This announcement was approved and authorised for release by the Company’s Board of Directors.

Connected IO Limited ABN 99 009 076 233 Level 24, 44 St Georges Tce, Perth WA 6000 T +61 8 6211 5099; F +61 8 9218 8875