CONNECTED MINERALS LIMITED — Capital/Financing Update 2021

Feb 25, 2021

CONNECTED IO LIMITED

(ACN 009 076 233)

NOTICE UNDER SECTION 708A(5)(e) OF THE CORPORATIONS ACT 2001 (CTH)

This notice is given by Connected IO Limited (" Company ") under section 708A(5)(e) of the Corporations Act 2001 (Cth) (“ Corporations Act ”) (as modified by ASIC Instrument 2016/84).

The Company today issued 87,923,630 new fully paid ordinary shares ( New Shares ) at an issue price of $0.002 per New Share to professional and sophisticated investors in relation to the nonrenounceable, pro rata entitlement offer, as announced on 19 January 2021 ( Entitlement Offer ). 708 Capital as underwriter to the Entitlement Offer, has allocated professional and sophisticated investors to receive the New Shares, which represent the shortfall shares not taken up by Eligible Participants of the Entitlement Offer.

The Corporations Act restricts the on-sale of securities issued without disclosure, unless the sale is exempt under section 708 or 708A. By the Company giving this notice, sale of the shares under the Placement will fall within the exemption in section 708A(5)(e) of the Corporations Act. As such, the Company confirms that the Placement is being made without a disclosure document.

Pursuant to section 708A(5)(e) of the Corporations Act, the Company provides the following information:

1. the New Shares are being issued without disclosure to investors under part 6D.2 of the Corporations Act;

2. this notice is being given under section 708A(5)(e) of the Corporations Act;

3. as at the date of this notice, the Company has complied with:

   • (a) the provisions of chapter 2M of the Corporations Act as they apply to the Company; and

   • (b) section 674 of the Corporations Act; and

4. as at the date of this notice, there is no information that is ‘excluded information’ (within the meaning of sections 708A(7) and 708A(8) of the Corporations Act) to be disclosed under section 708A(6)(e) of the Corporations Act.

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