CONNECTED MINERALS LIMITED — Capital/Financing Update 2021

Jan 18, 2021

CONNECTED IO LIMITED

(ACN 009 076 233)

NON-RENOUNCEABLE PRO-RATA RIGHTS OFFER

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

On 19 January 2021, Connected IO Limited ( Company ) announced that it would make a nonrenounceable pro- rata rights issue ( Rights Issue ) 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 ) ( Offer ).

The Company confirms the Rights Issue is being made without a disclosure document pursuant to section 708AA of the Corporations Act 2001 (Cth) ( Act ) as varied by ASIC Corporations (NonTraditional 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.

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