EDEN INNOVATIONS LTD — Capital/Financing Update 2021

Jul 25, 2021

ACN 109 200 900

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AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT

26 July 2021

EdenCrete® - GDOT Sales and Market Update - Georgia

HIGHLIGHTS

• US $535,000 purchase order received by Eden US for FHWA/GDOT jointly-funded highway repair project on Interstate Highway I-675.

• 5 other GDOT repair projects currently underway or have been advertised for tender.

• The 2-year long GDOT EdenCrete® bridge trial will be completed in early 2022.

DETAILS

Eden Innovations Ltd (ASX: EDE) is pleased to provide the following update on continued EdenCrete® sales progress on GDOT projects in Georgia.

US$535,000 Purchase Order Received for Interstate Highway I-675 Repair Project .

After the contract was awarded by GDOT in April 2021 for a large repair project on Interstate Highway I-675, that will include EdenCrete®, the project was temporarily delayed for a period due to cement and other shortages, but it is now proceeding.

The purchase order is for a total value of US$535,000 of EdenCrete®. Eden US is yet to be advised what is the precise start date for the repair work but it is anticipated to be late in August 2021.

This project is another Georgia Department of Transportation (GDOT) and Federal Highway Administration (FHWA) jointly funded project. On several such previous projects, the scope of the project and the total repairs (and hence also the required quantity of EdenCrete®) were increased during the course of the contract.

GDOT- Current On-going Highway Repair Projects

There are currently two ongoing GDOT highway repair projects.

- I-75 major highway repair project this project which has been going for several months and is nearing completion, has involved the replacement of over 9,000 cubic yards of concrete, requiring more than US$450,000 worth of EdenCrete®.

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

I-20 highway repair project - this repair project that is estimated to require approximately US$50,000 worth of EdenCrete® was also delayed for almost 2 months, but is now underway.

Recent New GDOT Lettings for Highway Repairs

Three new repair projects advertised for tender - During the past few months GDOT has advertised for tender three new highway repair projects which are estimated will require and aggregate of approximately US$73,000 worth of EdenCrete®.

EdenCrete® 2-Year GDOT Bridge Trial Nears Completion

In early 2022, EdenCrete® will complete its 2 year-long GDOT field trial in the replacement of the decking on three spans of a bridge across the Little River located in Gainesville, Georgia (see Figures 1-3) ( see Eden’s ASX announcement dated 26 November 2019 ).

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Figure 1. Bridge over the Little River

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Figure 2. Bridge over Little River showing re-enforcing steel included in bridge decking

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Figure 3. Bridge over Little River showing freshly lain concrete bridge decking

The successful completion and assessment of this bridge trial will afford Eden a strong opportunity to greatly increase the number and value of GDOT projects in Georgia in which EdenCrete® will be used. There are 14,750 bridges in Georgia, and all bridges are inspected every two years. As an indication of the potential significance of this trial, in 2019 GDOT spent US $509.5 million in construction and widening 65 bridges, as well as US $41.9million on bridge maintenance.

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SUMMARY

GDOT has been a major consumer of EdenCrete® since the start of 2017, using it in all full depth concrete slab repairs on its highways. This followed a highly successful 17 months’ field trial of EdenCrete® on a section of the Interstate Highway I-20 in Augusta, that resulted in GDOT mandating in January 2017 the inclusion of EdenCrete® in all future full depth highway concrete slab replacements. That regulation remains in force today.

Further, the completion in early 2022 of a 2-year long bridge trial of EdenCrete® by GDOT, is hoped will open the way for EdenCrete® to also be included in suitable GDOT bridge projects, which consume a significant percentage of the GDOT annual budget. The potential significance of EdenCrete® being approved for use in suitable bridge applications is highlighted by the following statistics:

• There are 14,750 bridges in Georgia;

• All bridges are inspected every two years; and

• In 2019 GDOT spent US$509.5 million in construction and widening 65 bridges, as well as US$ 41.9million on bridge maintenance.

Further, if additional Federal funds become available for highway and bridge repairs and new construction under the proposed US Federal infrastructure stimulus programme, GDOT may well become an even more important customer of Eden over the coming years.

EdenCrete® Background

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

EdenCrete[® ] is generally used in concrete that incorporates a high percentage of Ordinary Portland Cement (OPC or Portland cement) whilst EdenCrete[®] Pz is mostly used in concrete that incorporates a high percentage of pozzolans as an alternative cementitious material (including fly-ash and blast furnace slag which are each waste by-products from coal fired power stations and metal smelting respectively, thereby each being treated, as a waste by-product, as having a zero Greenhouse Gas footprint from its production process).

As a result, EdenCrete[®] Pz in particular has repeatedly shown it is capable of enabling the proportion of the Portland cement in the concrete to be replaced by a percentage of pozzolans with far lower Greenhouse Gas footprints, resulting in a reduction in the Greenhouse Gas footprint generated in the production of the various cementitious components used in the manufacturing of the concrete. Both products have been repeatedly shown to be suitable for use in ready-mix concrete, pre-cast and pre-stressed concrete, shotcrete, pumped concrete and volumetric concrete.

One of the primary target markets for EdenCrete[®] products is improving the performance of concrete used in the construction and maintenance of concrete roads, bridges, ports, airports, and other

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infrastructure, particularly where it is subject to heavy wear, freeze/thaw weather conditions, heavy snow falls, and/or high levels of added salt or de-icing chemicals.

Since 2015, EdenCrete[®] products have been sold in the USA and more recently also in Australia and a growing number of other countries. They have successfully and repeatedly delivered a wide range of benefits when incorporated into concrete that is used in many different applications, including low-rise, medium-rise and high-rise building construction, roads and bridges, ports/marine/coastal applications, bus stations, carparks, water pipes, hardstand areas, waste transfer stations, warehouses, shotcrete applications, stadiums, and pre-stressed and pre-cast concrete products.

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Gregory H. Solomon Executive Chairman

This announcement was authorised by the above signatory. For any queries regarding this announcement please contact him on +618 9282 5889.

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