NANOVEU LIMITED — Capital/Financing Update 2021

Sep 16, 2021

==> picture [164 x 44] intentionally omitted <==

Nanoveu Limited U1, 18 Olive Street Subiaco WA 6008 +61 8 6244 9095 www.nanoveu.com

17 September 2021

Dear Shareholder,

NANOVEU LIMITED – PRO-RATA NON-RENOUNCEABLE RIGHTS ISSUE

As announced on 31 August 2021, Nanoveu Limited (ACN 624 421 085) ( Company ) is undertaking a non-renounceable rights issue of one (1) fully paid ordinary share in the capital of the Company ( Share ) for every four (4) Shares held at an issue price of $0.045 per Share, together with one (1) free attaching option for every two (2) Shares subscribed for and issued ( New Option ), to raise up to $2,152,800 ( Offer ).

The Company lodged a prospectus for the Offer ( Prospectus ) with ASIC and ASX on 8 September 2021. An electronic copy of the Prospectus, along with information with respect to applying for your entitlement under the Offer is available at https://investor.automic.com.au/#/home.

If you have already registered, you can log in under “Existing users sign in”. If you haven’t registered, you can sign in by clicking on “Single Holding Access” or you can click “register” to create a portfolio. Once you have logged in, click on “Documents & Statements” and then click on “download” to the right of the NVU Prospectus pdf and the NVU Rights Issue Form pdf to download and view the Prospectus and personalised application form.

You will need to provide your Securityholder Reference Number or Holder Identification Number and postcode to register or to sign in through Single Holding Access. Follow the instructions provided including making payment by BPAY® or EFT. Your electronic acceptance of the Offer should be made by making payment via BPAY® or EFT. Payment by cheque or cash will not be accepted.

If you wish to access the online application system, you will need to provide your Securityholder Reference Number or Holder Identification Number (HIN) and postcode and follow the instructions provided including making payment by BPAY®.

Your acceptance of the Offer must be made by making payment using the payment instructions on the Entitlement and Acceptance Form which you can access at https://investor.automic.com.au/#/home. The number of Securities to which you are entitled (your Entitlement ) is shown on your personalised Entitlement and Acceptance Form which is accessible at https://investor.automic.com.au/#/home.

If you are unable to access https://investor.automic.com.au/#/home, then you can obtain a copy of the Prospectus and your Entitlement and Acceptance Form by calling the Share Registry on 1300 288 644 (within Australia) or +61 2 9698 5414 (outside Australia) or at corporate.actions@automic.com.au between 9:00am and 5:00pm (AEST) and asking them to mail a paper copy of the Prospectus and your Entitlement and Acceptance Form to you free of charge.

The Offer is being made to all shareholders of the Company ( Shareholders ) named on its register of members at 5:00pm (WST) on 14 September 2021, whose registered address is in Australia or New Zealand ( Eligible Shareholders ).

The Company intends to apply the funds raised from the Offer (less expenses) to sales and marketing of the Company’s products, regulatory approvals, building inventory and general

==> picture [164 x 44] intentionally omitted <==

working capital purposes. For further specifics of the use of funds please refer to section 3.1 of the Prospectus.

Following completion of the Offer, assuming any shortfall is subsequently placed and the full subscription is raised, the Company will have issued approximately 47,840,001 Shares and 23,920,001 New Options resulting in total Shares on issue of 239,200,006 and total Options on issue of 49,351,329. New Shares will rank equally with all fully paid ordinary shares in the capital of the Company ( Shares ) already on issue.

For the purposes of calculating each Eligible Shareholders’ entitlement, fractions of entitlements have been rounded up to the nearest whole number of New Shares.

Actions required of Eligible Shareholders

There are a number of actions Eligible Shareholders may take:

• accept your full Entitlement;

• accept your full Entitlement and apply for additional Shortfall Securities;

• accept part of your Entitlement; or

• if you do not wish to accept all or part of your Entitlement, you are not obliged to do anything.

Key dates for the Offer

Event	Proposed Date
Lodgement of Prospectus with the ASIC and the ASX	8 September 2021
Ex date	13 September 2021
Record Date for determining Entitlements	14 September 2021
Offer opening date, Prospectus sent out to Shareholders andCompany announces this has been completed	17 September 2021
Last day to extend the Closing Date	23 September 2021
Closing Date as at 5:00pm	28 September 2021
Securities quoted on a deferred settlement basis	29 September 2021
Announcement of results of the Offer	1 October 2021
Issue date and lodgement of Appendix 2A with ASX applying forquotation of the Securities	5 October 2021
Quotation of Shares issued under the Offer	6 October 2021

2

==> picture [164 x 44] intentionally omitted <==

If you have any queries concerning the Offer, or the action you are required to take to subscribe for New Shares, please contact your financial adviser or Michael van Uffelen, the Company Secretary, on +61 8 6244 9095.

Yours sincerely,

==> picture [78 x 73] intentionally omitted <==

Alfred Chong Executive Chairman and CEO

3