ENVIRONMENTAL CLEAN TECHNOLOGIES LIMITED. — Capital/Financing Update 2022

May 3, 2022

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CLEANSING NOTICE – SECTION 708A(5)(e) CORPORATIONS ACT 2001

4 May 2022: Environmental Clean Technologies Limited (ASX:ECT) ( Company or ECT ) gives this notice under section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Act ).

On 4 May 2022, the Company issued 166,666,667 fully paid ordinary shares ( New Shares ) at an issue price of $0.03 cents per New Share along with 55,555,556 free attaching ECTOE quoted options pursuant to a placement to institutional and sophisticated investors announced to the market on 28 April 2022 and 10,200,000 ECTE quoted options to the Joint Lead Managers of the placement ( Placement ). The New Shares will rank equally with all other shares on issue.

The Company advises that:

• (a) the New Shares issued pursuant to the Placement were issued without disclosure under Part 6D.2 of the Act;

• (b) this notice is given under section 708A(5)(e) of the Act;

• (c) as at the date of this notice, the Company has complied with:

  • (i) the provisions of Chapter 2M of the Act as they apply to the Company; and

  • (ii) section 674 of the Act;

• (d) as at the date of this notice, the only information that is “excluded information” of the type referred to in sections 708A(7) and 708A(8) of the Act is as follows:

The Company has entered into a non-binding indicative Term Sheet with a USA based company called Changing the World Technologies ( CTW ) which may result in the Company obtaining access to licences to use IP and technologies that may enable the Company to (1) produce rare earths from ores and ore residues, coal, coal residues, fly ash, bitumen and bitumen residues and bauxite residue and (2) convert inexpensive carbon sources such as lignite into graphene. The terms and conditions of any agreement that may be reached with CTW and the ultimate owners of the IP and technologies remain the subject of negotiation and the Company proceeding with any such arrangement is subject to due diligence both on the Company and by the Company on CTW, the IP and technologies and third parties who may become involved in the licensing arrangements. While the acquisition of rights to use such IP and technologies is consistent with the Company’s core strategies there can be no assurances that further negotiations with CTW will lead to a transaction.

This announcement was approved for release by the Board of the Company.

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For further information, please contact:

INVESTORS Glenn Fozard Chairman info@ectltd.com.au / +6139849603

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388 Punt Rd, 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)