ENVIRONMENTAL CLEAN TECHNOLOGIES LIMITED. — Board/Management Information 2017

Aug 30, 2017

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Shareholder Update – Executive Team and Board Changes

Thursday, 31 August 2017: Environmental Clean Technologies Limited (ASX: ESI) (ECT or Company) is pleased to provide the following update on changes to the roles and responsibilities amongst its senior executive team and to the Board to support the Company’s strategic plan for continued growth and activity.

Key points:

• Ashley Moore appointed as Chairman-Managing Director (CMD) of ECT India and will depart the ECT Board

• Jim Blackburn assumes responsibility for ECT’s core domestic operations

• Glenn Fozard heads up ECT Finance Ltd

• The changes will support increased activity in India over coming months

Restructure of senior executive roles

A number of important factors, including the Company’s increased activity in India over the coming months, have driven a decision by the Board to restructure the responsibilities across its senior executive team.

The India project remains our core objective and is therefore of vital importance to the Company. The Company has appointed Ashley Moore as the Chairman-Managing Director (CMD) of its Indian subsidiary, Environmental Clean Technologies Development and Services India Private Limited (ECT India) with an increased commitment and focus on managing the India project and the operations of ECT India.

ECT Chairman, Glenn Fozard commented, “Our Indian project is our most important engineering project. So naturally we want our most senior and experienced engineering resource dedicated to it. Mr Moore will transition ECT India into an operational entity over the coming weeks and commencing now, the ECT Group will have continued senior presence on the ground in India for 3 weeks out of every 4.”

Ashley Moore commented from Chennai, “After a relatively quiet period for our project as we’re awaiting the completion of the NITI Aayog independent financial review, we are anticipating a restart to activity which will necessitate a significant escalation in undertakings, entailing considerable planning and preparation. It’s vital that we support this work with in-country presence as we continue to develop the resources capable of delivering on our role in the project.”

With Mr Moore’s posting to India, ECT’s senior executive team has been restructured. Mr Jim Blackburn continues his role as Chief Operating Officer, assuming increased responsibility for the Company’s operational activities. Mr Glenn Fozard will head up the Company’s subsidiary ECT Finance Ltd whilst also assuming responsibility for the Company’s Marketing / Corporate Communications and Business Development roles.

An Executive Committee has been formed to support the day to day co-ordination of ECT Group’s three operational segments and to report to the Board of ECT Limited. A Commercialisation Steering Sub-Committee will provide additional focus on the Company’s continuing Research and Development (R&D), engineering and commercialisation activities.

388 Punt Road, South Yarra, VIC 3141 Australia | Phone +613 9849 6203| www.ectltd.com.au | ABN 28 009 120 405 Listed on the Australian Stock Exchange (ASX:ESI)

The three operational segments of the ECT Group are as follows:

ECT Finance Ltd Glenn Fozard Executive Director	ECT Limited Jim Blackburn Chief Operating Officer	ECT India Ashley Moore Chairman-Managing Director

Glenn Fozard commented further, “In considering changes to the executive, we were guided by the principle of aligning the experience and skillsets of senior staff members to roles that would support the Company to perform at the highest level. With a modest sized team driving a growing business it’s increasingly necessary to focus on developing and retaining best-of-market skills, applied to dynamic roles that can continue to evolve in line with our strategy, whilst ensuring any new resources add significant value to the team from the outset.”

Changes to the Company’s Board

The Company has also been developing a plan for restructuring its Board to better support the Company’s future growth profile and will shortly implement initial changes in parallel with the new executive structure. Initially this will include Ashley Moore departing the Board of ECT to focus on the India project and the operations of ECT India. This change aligns with the Company’s efforts to meet best practice standards of governance, having the immediate effect of bringing ECT into line with the ASX guideline recommending that a majority of the Board of a listed entity should be independent directors.

Over the coming 6-12 months, the Board will continue to work towards additional governance improvements which will include recruiting new independent directors, amongst other important initiatives as part of our “Towards Best Practice Governance” project.

Glenn Fozard, who will remain as Chairman to support the transition, stated, “Every company faces important moments of transition which demand methodical and deliberate planning and the courage to initiate change. We have spent many months planning for the anticipated growth as we head toward project execution in India, including business continuity planning, mitigation of key man risk and seeking out staff who allow us to enhance our suite of internal skills and competencies. Now is the right time to make these changes as we face an exciting future.”

For further information, contact:

Glenn Fozard – Chairman info@ectltd.com.au

About ECT

ECT is in the business of commercialising leading-edge energy and resource technologies, which are capable of delivering financial and environmental benefits.

We are focused on advancing a portfolio of technologies, which have significant market potential globally.

ECT’s business plan is to pragmatically commercialise these technologies and secure sustainable, profitable income streams through licencing and other commercial mechanisms.

About Coldry

When applied to lignite and some sub-bituminous coals, the Coldry beneficiation process produces a black coal equivalent (BCE) in the form of pellets. Coldry pellets have equal or superior energy value to many black coals and produce lower CO2 emissions than raw lignite.

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About MATMOR

The MATMOR process has the potential to revolutionise primary iron making.

MATMOR is a simple, low cost, low emission, production technology, utilising the patented MATMOR retort, which enables the use of cheaper feedstocks to produce primary iron.

About the India R&D Project

The India project is aimed at advancing the Company’s Coldry and Matmor technologies to demonstration and pilot scale, respectively, on the path to commercial deployment.

ECT have partnered with NLC India Limited and NMDC Limited to jointly fund and execute the project.

NLC India Limited is India’s national lignite authority, largest lignite miner and largest lignite-based electricity generator.

NMDC Limited is India’s national iron ore authority.

Areas covered in this announcement:

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ECT ECT ECT India Aust. Business
R&D HVTF Sales
Limited Finance India Project Project Develop.
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The above diagram provides a ‘quick glance’ of the key activity areas. Highlighted areas are referenced in this announcement.

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