EDEN INNOVATIONS LTD — Capital/Financing Update 2020

Apr 28, 2020

ACN 109 200 900

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AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT

29 April 2020

EdenCrete®- US Market Update

In spite of US commercial activity having slowed significantly during the past 6-8 weeks due to COVID-19, nevertheless Eden has considerably expanded its US EdenCrete[®] footprint since the start of 2020.

Recent Market Growth

A summary of this recent growth is as follows:

• At present EdenCrete[®] products are being purchased and used, or specified to be use d, in a range of different applications:

  • by 40 different companies,

  • spread across 9 States, and comprising

    • 27 ready mix concrete companies,

    • 6 shotcrete suppliers,

    • 3 contractors,

    • 2 precast concrete manufacturers and

    • 2 engineering consultants.

• Of these 40 different companies, 16 only commenced using or specifying EdenCrete[®] products for the first time in 2020, representing a very significant expansion of the EdenCrete[®] customer base during a four month period, the last 6-8 weeks of which have been markedly constrained by COVID-19.

• Of these 40 companies, 19 have bulk EdenCrete[®] storage and dispensing equipment installed in a total of 22 plants, spread across the 9 states.

• Further, 16 potential customers that own approximately 290 concrete manufacturing plants in 6 States, are awaiting trials of EdenCrete[®] that are planned to occur as soon reasonably possible after

Eden Innovations Ltd | Telephone +61 8 9282 5889 Level 15, 197 St George’s Terrace, Perth, Western Australia 6000, Australia | edeninnovations.com

the relevant COVID-19 restrictions are eased sufficiently in each State to enable the trials to take place.

• Of these 16 companies that are awaiting trials, 11 are based in Texas and the other 5 are each in a different State where Eden currently has no existing customers.

Expansion of the Sales Team

This significant growth over the past 4 months in both the existing customer base as well as potential new customers, has been the result of a great effort by our existing US sales team, greatly assisted by the 4 new commission-only Manufacturer’s Representatives (Reps) and the one new, Georgia-based sales employee that have been appointed.

This extended sales and marketing coverage greatly expands Eden’s sales and marketing coverage across Texas, the Midwest, the South East and the North East of the USA, which collectively represent a large part of the US concrete market.

Collectively these new members of the sales team bring to Eden an additional combined experience of more than 125 years in the both the commercial concrete market as well as in the infrastructure market, with significant relationships across both industry and regional governments, greatly adding to the already deep level of similar experience of our original sales team.

Eden is very fortunate to have been able to expand its US sales team as it continues its push to develop its EdenCrete® market presence in the US, and remains confident that the expansion that has been achieved over the past four months of its US footprint will continue, and translate into significant sales growth, commencing after the planned trials are completed when the US market re-opens.

BACKGROUND

EdenCrete[®] is Eden’s 100% owned, proprietary carbon-strengthened concrete additive that enhances a wide range of performance characteristics of the concrete including compressive strength, flexural strength, tensile strength, abrasion resistance, reduced permeability, increased modulus of elasticity, and reduced shrinkage, delivering stronger, tougher, more durable and longer lasting concrete.

One of the primary target markets for EdenCrete[®] is improving the performance of concrete used in the construction and maintenance of concrete roads, bridges and other infrastructure, particularly where it is subject to heavy wear, freeze/thaw weather conditions and/or high levels of added salt. Additionally, it has potential for use in most other concrete applications including high-rise building construction, marine and coastal applications, water storage and

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pipelines, hardstand areas, warehouses, shotcrete applications and pre-stressed and pre-cast concrete structures and products.

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Gregory H. Solomon Executive Chairman

This announcement was authorised by the above signatory. For further information please contact Aaron Gates on +61 8 9282 5889.

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