ENERGY TECHNOLOGIES LIMITED — Capital/Financing Update 2023

Feb 27, 2023

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ENERGY TECHNOLOGIES LIMITED

A.B.N. 38 002 679 469

Unit J, 134 - 140 Old Pittwater Road Brookvale NSW 2100 Tel: +61 2 9938 5622 www.energytechnologies.com.au

Australian Stock Exchange Company announcements platform

28 February 2023

ABN 38 002 679 469

Energy Technologies Limited (ASX:EGY) – Capital Raising

Energy Technologies Limited (EGY or the Company) is pleased to announce the successful completion of a capital raising of $3.4 million.

The raising was undertaken by way of a Placement of new shares issued to professional and sophisticated investors.

Funds raised under the capital raising will be used to fund the Company’s operational growth, working capital and costs of the offer

The issue price represented a discount of:

• 11.9% to the 15-day VWAP of $0.059; and

• 18.7% to the last traded price of $0.064.

The capital raising comprised of a Placement of 65,384,616 fully paid ordinary shares to sophisticated and professional investors. The issue of shares under the Placement is expected to occur on Tuesday, 7 March 2023 and will be made without shareholder approval using the Company’s existing capacity under ASX Listing Rule 7.1 and ASX Listing Rule 7.1A.

Of the 65,384,616 fully paid ordinary shares issued, 40,841,282 ordinary shares will be issued under ASX Listing Rule 7.1. The balance of 24,543,334 ordinary shares will be issued under ASX Listing Rule 7.1A.

The Company and the Lead Manager, Sequioa Corporate Finance Pty Limited, approached existing sophisticated and wholesale investors on the register, as well as clients of the Lead Manager, to participate in the Placement. The Placement was allocated on a preferred basis to existing qualified shareholders identified by the Company and then professional and sophisticated investors introduced by the Lead Manager. The allocation was on a best efforts basis to allocate pro rata to existing holders. There has been no significant exceptions or deviations from the objective or criteria. No securities were issued or agreed to be issued in the Placement to any related party.

The company was overwhelmed by the support of existing and new shareholders and thanks them for their ongoing support.

All new shares issued will rank equally with existing Shares on issue and the Company will apply for Official Quotation on ASX of the new Shares.

END

Authorised by the Energy Technologies Limited’s Board of Directors

For further information please contact:

Mr. Anthony Smith Non Executive Director Energy Technologies Limited

tony.smith@energytechnologies.com.au

website: www.energytechnologies.com.au

About Energy Technologies

Energy Technologies Limited (ABN 38 002 679 469) seeks to develop business opportunities in niche sectors of the electric power industry either by the introduction and manufacturing of innovative new products with market dominance potential due to their unique nature or by the acquisition of established but tired manufacturing brands that offer market dominance potential via a sustained turnaround and the infusion of new ideas, people and capital. In both cases the company follows strict investment criteria and relies on the proven experience of its management and advisory team to determine which products or companies it should develop and how such development should take place. The Company has a 100% ownership of Bambach Wire and Cables Pty Ltd, a manufacturer of low voltage copper insulated cables, as well as a strategic holding in Dulhunty Poles Pty Ltd, a manufacturer of fiber reinforced cement distribution poles. It also owns 100% of Cogenic Pty Ltd, a development company focused on the renewable energy sector. Learn more about Energy Technologies at www.energytechnologies.com.au