ENVIRONMENTAL CLEAN TECHNOLOGIES LIMITED. — Capital/Financing Update 2020

May 17, 2020

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Non- Renounceable Rights Issue - Shortfall Period Closed

18 May 2020: Environmental Clean Technologies Limited (ASX: ECT) (ECT or Company) advises the shortfall period for the recent Non-Renounceable Entitlement Offer (announcement 13 February 2020), closed on 10 May 2020.

The non-renounceable rights issue was fully subscribed, and the board and management are now preparing to resume normal operations.

The final tranche of shortfall shares (793 million) and options (317 million) were issued to a service provider to deliver contractor services to the Bacchus March project. Contractual arrangements in relation to this non-cash transaction with the service provider are being finalised and the shares and options are locked and as such cannot be traded.

A detailed announcement will be provided in the coming days in relation to the above issue of equities, the Bacchus Marsh project plan, including updated timeframes and budget, and a review of the Business Continuity Plan (BCP) period (announcement 26 March 2020) triggered by matters associated with the pandemic.

ECT’s Chairman, Glenn Fozard commented, “The last 6 weeks have been incredibly challenging. Winding our business activities down by approximately 50% during the lockdown achieved the targeted savings but also placed a lot of pressure on our staff and stakeholders. We thank everyone for their patience, especially our shareholders. When we emerge from our BCP restrictions, which we expect to be towards the end of the financial year, the aim is to defend these savings through a leaner cost structure, whilst also improving how we further focus our resources on our key priority for the remainder of the year being the delivery of the upgrade project in support of our strategy to generate positive earnings.”

For further information, contact:

Authorised for release by 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 licensing 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.

About HydroMOR

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

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: ECT)

HydroMOR is a simple, low cost, low emission, hydrogen-driven technology which enables the use of ‘low value’ feedstocks to produce primary iron.

About COHgen

The COHgen process has the potential to deliver a lower cost, lower emission method for hydrogen production from brown coal.

COHgen is currently advancing through fundamental laboratory development to inform its patent application ahead of scale up and commercialisation.

About CDP-WTE

The catalytic depolymerisation-based waste-to-energy process converts ‘low-value’ resources into higher-value diesel and other valuable by-products.

CDP-WTE can be deployed as a standalone solution or integrated with the Coldry process to deliver higher-value, lower-emission energy solutions to lignite resource owners.

Areas covered in this announcement:

ECT (ASX:ECT)	ECT Finance ECT India Aust. Projects R&D HVTF Business Develop.	Sales

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