IODM LIMITED — Capital/Financing Update 2017

Aug 21, 2017

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22 August 2017

Australian Securities Exchange

Level 40, Central Park

152-158 St Georges Terrace

PERTH WA 6000

UNDERWRITTEN NON-RENOUNCEABLE ENTITLEMENT OFFER

CLEANSING NOTICE UNDER SECTION 708AA(2)(F) OF THE CORPORATIONS ACT 2001 (CTH)

This notice is given by IODM Limited (ASX Code: IOD) ( IODM ) under section 708AA(2)(f) of the Corporations Act 2001 (Cth) ( Corporations Act ).

IODM announced today that it is seeking to raise approximately $1,000,000 by way of a nonrenounceable pro-rata rights issue ( Entitlement Offer ).

Under the Entitlement Offer, shareholders with a registered address in Australia and New Zealand are invited to subscribe for three fully paid ordinary shares ( Share ) for every eight shares held as at 5.00pm (AEDT) on 25 August 2017.

The Entitlement Offer is partially underwritten by Domain Capital Pty Ltd to the amount of $700,000. Further details regarding the Entitlement Offer are set out in the ASX Announcement and Investor Presentation lodged with ASX today.

IODM confirms that:

1. The Shares will be offered pursuant to the Entitlement Offer without disclosure under Part 6D.2 of the Corporations Act.

2. This notice is being given under section 708AA(2)(f) of the Corporations Act.

3. As at the date of this notice, IODM has complied with:

   • (a) the provisions of Chapter 2M of the Corporations Act as they apply to IODM; and

   • (b) section 674 of the Corporations Act.

4. As at the date of this notice, there is no excluded information of the type referred to in sections 708AA(8) and 708AA(9) of the Corporations Act that is required to be set out in this notice under section 708AA(7) of the Corporations Act.

IODM Limited ABN 28 102 747 133 www.iodm.com.au

`Level 5, 22 Albert Road, South Melbourne, VIC, 3205

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1. The potential effect that the issue of Shares will have on the control of IODM, and the consequences of that effect, will depend on a number of factors, including investor demand. To the extent that shareholders fail to take up their entitlements under the Offer, the percentage of holdings of those shareholders in IODM may be diluted by those other shareholders who take up some, all or more than their entitlement. At this time, the issue of the Shares under the Offer is not expected to have a material effect or consequence on the control of IODM given:

   • (c) the Offer is structured as a partially underwritten pro-rata issue;

   • (d) the current level of holdings of substantial holders (based on substantial holding notices that have been given to IODM and lodged with ASX on or before the date of this notice); and

   • (e) no participant in any shortfall will be offered Shares which would result in them holding 20% of the shares on issue.

Yours faithfully,

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PETRINA HALSALL

COMPANY SECRETARY

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