CONNECTED MINERALS LIMITED — Capital/Financing Update 2021

Jan 26, 2021

CONNECTED IO LIMITED

(ACN 009 076 233)

NON-UNDERWRITTEN PLACEMENT OFFER

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

This notice is given by Connected IO Limited (ACN 009 076 233) (“ Company ”) under section 708A(5)(e) of the Corporations Act 2001 (Cth) (“ Corporations Act ”).

On 19 January 2021, the Company announced that it would make a non-underwritten placement of shares in the Company to institutional investors to raise up to approximately $75,000 (before costs) (“ Placement ”). The Company has today issued 37,191,604 shares (“ Placement Shares ”) utilising its placement capacity under ASX Listing Rule 7.1. The purpose of the Placement is to enable the Company to conclude its strategic review of its business model in addition to providing additional working capital.

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:

• (a) the Placement Shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act;

• (b) the Company is providing this notice under section 708A(5)(e) of the Corporations 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, as it applies to the Company;

• (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 shares under the Placement.

• (e) the potential effect that the issue of the shares under the Placement 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 the Placement is fully subscribed, then the issue of the shares under the Placement is not expected to have any material effect on the control of the Company.

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