EDEN INNOVATIONS LTD — Capital/Financing Update 2022

Aug 10, 2022

ACN 109 200 900

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AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT

11 AUGUST 2022

EDEN COMPLETES RESTRUCTURE OF US SECURED DEBT AND INCREASES WORKING CAPITAL

Eden Innovations Ltd (“Eden”) (ASX: EDE) is pleased to announce that Eden Innovations LLC (“Eden US”) has completed the refinancing of the two existing secured loans (as previously announced on 27 May 2022) being:

• the existing US$3million debt (the “Current Loan”) secured against the three US properties (being two properties in Colorado and one in Georgia) owned by Eden’s US subsidiary (“Eden US”) ; and

• US$365,482, being the remaining outstanding balance of the unpaid purchase price owing to the vendor of the original property that Eden US acquired in Colorado (“the Unpaid Purchase Price”).

The new loan from iBorrow, a Californian-based national financing company, is for the sum of US$6.475 million (approximately A$9.35 million), and is secured against the three US properties owned by Eden US that collectively have a recently appraised aggregate value of US$12.15 million (approximately A$17.46 million), and is guaranteed by Eden. The material terms of the formal loan and security documentation are set out in Eden’s announcement of 27 May 2022. The documentation also contains all the usual representations, warranties, indemnities, covenants, events of default and termination usually included in US documentation of a like nature.

After discharging the Current Loan and the Unpaid Purchase Price, payment of all expenses, commissions, and the establishment of a 12 months’ interest reserve and insurance reserve deposit as required under the loan agreement, the remaining balance of the new loan was approximately US$1.775 million (approximately A$2.551 million). These funds will supplement the A$755,000 that was raised under the placement announced on 8 August 2022 and will be used for additional working capital for the Eden Group of companies.

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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.

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