EDEN INNOVATIONS LTD — Capital/Financing Update 2020

Jun 18, 2020

Proposed issue of securities

==> picture [21 x 22] intentionally omitted <==

Announcement Summary

Entity name

EDEN INNOVATIONS LTD

Announcement Type

New announcement

Date of this announcement

Friday June 19, 2020

The Proposed issue is:

==> picture [8 x 8] intentionally omitted <==

An offer of securities under a securities purchase plan

Total number of +securities proposed to be issued for an offer of securities under a securities purchase plan

Maximum Number of ASX +Security Code +Security Description +securities to be issued EDE ORDINARY FULLY PAID 178,571,429

+Record date

Thursday June 18, 2020

Offer closing date

Friday July 10, 2020

+Issue date

Tuesday July 21, 2020

Refer to next page for full details of the announcement

Proposed issue of securities

1 / 6

Proposed issue of securities

==> picture [21 x 22] intentionally omitted <==

Part 1 - Entity and announcement details

1.1 Name of +Entity

EDEN INNOVATIONS LTD

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

1.2 Registered Number Type

Registration Number

ABN 58109200900

1.3 ASX issuer code

EDE

1.4 The announcement is

==> picture [8 x 9] intentionally omitted <==

New announcement

1.5 Date of this announcement

Friday June 19, 2020

1.6 The Proposed issue is:

==> picture [8 x 8] intentionally omitted <==

An offer of +securities under a +securities purchase plan

Proposed issue of securities

2 / 6

Proposed issue of securities

==> picture [21 x 22] intentionally omitted <==

Part 4 - Details of proposed offer under securities purchase plan

Part 4A - Conditions

4A.1 - Are any of the following approvals required for the offer of +securities under the +securities purchase plan issue to be unconditional? +Security holder approval Court approval Lodgement of court order with +ASIC ACCC approval FIRB approval Another approval/condition external to the entity No

Part 4B - Offer details

Class or classes of +securities that will participate in the proposed issue and class or classes of +securities proposed to be issued

ASX +Security Code and Description

EDE : ORDINARY FULLY PAID Will the proposed issue of this +security include an offer of attaching +securities? No

Details of +securities proposed to be issued

ASX +Security Code and Description

EDE : ORDINARY FULLY PAID

Maximum Number of +securities proposed to be issued 178,571,429

Minimum Number of +securities Maximum Number of proposed to be offered to each +securities proposed to be individual +security holder offered to each individual +security holder 31,715 1,071,429

Proposed issue of securities

3 / 6

Proposed issue of securities

==> picture [21 x 22] intentionally omitted <==

Minimum subscription $ Maximum subscription $ amount proposed to be offered amount proposed to be offered to each individual security to each individual security holder holder AUD 1,000 AUD 30,000

Purpose of the issue

Working capital

Offer price details for retail security holders

Issue Currency Offer Price per +security Estimated or Actual? Actual AUD - Australian Dollar AUD 0.02800

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Oversubscription & Scale back details

May a scale back be applied to this event? Yes

Provide the scale back details

The Directors reserve the right, in their sole and absolute discretion, to accept oversubscriptions (subject to the maximum amount which will be raised under this SPP not exceeding $7,000,000). The extent and manner of any scale back will be at the Director's discretion, but in exercising this discretion the Director's may have regard to and take into account a number of factors, including the size of the Eligible Shareholder's shareholding and the length of time they have been a shareholder.

Part 4C - Timetable

4C.1 Date of announcement of +security purchase plan

Friday June 19, 2020

4C.2 +Record date

Thursday June 18, 2020

4C.3 Date on which offer documents will be made available to investors

Tuesday June 23, 2020

4C.4 Offer open date

Tuesday June 23, 2020

4C.5 Offer closing date

Friday July 10, 2020

Proposed issue of securities

4 / 6

Proposed issue of securities

==> picture [21 x 22] intentionally omitted <==

4C.6 Announcement of results

Wednesday July 15, 2020

4C.7 +Issue date

Tuesday July 21, 2020

Part 4D - Listing Rule requirements

• 4D.1 Does the offer under the +securities purchase plan meet the requirements of listing rule 7.2 exception 5 that: the number of +securities to be issued is not greater than 30% of the number of fully paid +ordinary securities already on issue; and

• the issue price of the +securities is at least 80% of the +volume weighted average market price for +securities in that +class, calculated over the last 5 days on which sales in the +securities were recorded, either before the day on which the issue was announced or before the day on which the issue was made?

==> picture [8 x 8] intentionally omitted <==

• No

4D.1a Are any of the +securities proposed to be issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes

4D.1a ( i ) How many +securities are proposed to be issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1?

All of the proposed securities will be issued without security holder approval using the entity's 15% placement capacity under listing rule 7.1.

4D.1b Are any of the +securities proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? No

Part 4E - Fees and expenses

4E.1 Will there be a lead manager or broker to the proposed offer? No

4E.2 Is the proposed offer to be underwritten? No

4E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a handling fee or commission? No

4E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed offer

Proposed issue of securities

5 / 6

Proposed issue of securities

==> picture [21 x 22] intentionally omitted <==

Part 4F - Further Information

4F.1 Will the entity be changing its dividend/distribution policy if the proposed offer is successful? No

4F.2 Countries in which the entity has security holders who will not be eligible to accept the proposed offer USA, UK, Singapore, Indonesia, Austria, Canada, Hong Kong and Netherlands

4F.3 URL on the entity's website where investors can download information about the proposed offer https://edeninnovations.com/investors/#announcements

4F.4 Any other information the entity wishes to provide about the proposed offer

Proposed issue of securities

6 / 6