MAGONTEC LIMITED — Share Issue/Capital Change 2020

Aug 11, 2020

Suite 1.03, Level 1 46A Macleay St Potts Point, NSW 2011 Australia Ph +61 2 8084 7813

12 August 2020

Company Announcements Office Australian Stock Exchange Limited 20 Bridge Street Sydney, NSW, 2000

Dear Sir/Madam,

708A CLEANSING STATEMENT Issue of Fully Paid Ordinary Shares Under the ‘Small Scale Offerings’ Provisions of Section 708 of the Corporations Act (the Act)

1. Background

• a. On 30 July 2020, Magontec Limited ACN 010 441 666 (the Company ) issued 3,076,922 fully paid ordinary shares to two Directors following approval by shareholders of Resolution 7 at the Company’s 2020 AGM (“Issue”).

• b. The Issue was undertaken to assist in the funding of the direct and indirect costs of the Company buying back certain small shareholdings.

• c. Details of the Issue can be found in an “Announcement of proposed issue of securities” (Appendix 3B) lodged with the ASX 30 July 2020.

2. Purpose of this Statement

In accordance with the requirements of section 708A(5)(e) of the Act, under which this notice is given, the Company confirms that:

• a. as a disclosing entity, the Company is subject to regular reporting and disclosure obligations;

• b. the shares placed are in the same class of ordinary shares as are quoted on the ASX;

• c. the Company issued the shares without disclosure to investors under Part 6D.2 of the Act, in reliance on section 708 and that notification is being given under 708A(5)(e) of the Act;

• d. as at the date of this notice:

  • i. the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company;

  • ii. the Company has complied with section 674 of the Act; and

• e. as at the date of this notice there is no excluded information (as that expression is defined in sections 708A(7) and 708(8) of the Act) in relation to the Company.

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John Talbot Company Secretary

John Talbot, Company Secretary of Magontec Limited has authorised the release of this document to the market on 12 August 2020