PHOSLOCK ENVIRONMENTAL TECHNOLOGIES LIMITED — AGM Information 2023

May 22, 2023

Annual General Meeting 2023

World leaders in water remediation

Driving sustainable growth

Disclaimer

Statements contained in this presentation, particularly those regarding possible or assumed future performance, estimated company earnings, potential growth of the company, industry growth or other trend projections are or may be forward looking statements. Such statements relate to future events and expectations and therefore involve unknown risks and uncertainties. Actual results may differ materially from those expressed or implied by these forward looking statements.

Mr David Krasnostein AM Chairman

• 1. Consideration of the 2022 Annual Report of the Company
• 1. Resolution 1: Adoption of the Company's Remuneration Report
• 1. Resolution 2: Re-election of Mr Barry Sechos as a Director of the Company
• 1. Other business, should there be any

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Proxies before meeting

Securities On Issue	624,390,509
Valid Securities Voted (For, Against, Open Usable, Open Conditional)	51,193,907
Valid Securities Voted (%)	8.20
Total Securityholders Cast	182

Resolution		For	Against	OpenBoard	OpenNon-Board	Abstain	Excluded
1Remuneration Report	Voted%% of all securities	33,297,61965.045.33	17,211,88833.622.76	609,6591.190.10	74,7410.150.01	98,782N/A0.02	71,035,280N/A11.38
2Re-elect Mr Barry Sechos	Voted%% of all securities	116,222,57695.3118.61	5,032,8444.130.81	604,6190.500.10	74,7410.060.01	393,189N/A0.06	0N/A0.00

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Mr David Krasnostein AM Chairman

Mr Lachlan McKinnon Managing Director / CEO

92023 ANNUAL GENERAL MEETING

2022 Performance Growth Strategy Outlook for the company

10

2022 Performance

Key financial results	12 months to31 December 2022	12 months to31 December 2021
Revenues	$3.0 million	$6.3 million
Gross Profit	$1.4 million	$3.6 million
Underlying EBIT1	($9.1 million)	($7.9 million)
NPAT2	($11 .2 million)	($3.9 million)
Net Operating Cash Flow	($7.1 million)	($6.9 million)

Key balance sheet metrics

Cash at bank	$14.5 million	$23.0 million
Receivables	$0.7 million	$2.8 million
Inventory	$2.4 million	$3.3 million

1. Underlying EBIT (Earnings before interest and tax) is a financial measure which is not prescribed by Australian Accounting Standards ('AAS') and represents the profit or loss under AAS adjusted for the add back of income tax, finance costs and certain non-cash income and expense items that are deemed to not have an ongoing affect to the underlying performance of the business. The Company believes that presenting Underlying EBIT provides a better understanding of its financial performance by facilitating a more representative comparison of financial performance between financial periods.

2. Net Operating Profit/(Loss) after Tax

Key Impacts On Full Year Financials

Project delays continue to impact sales

Expenses associated with ongoing legal matters

Restructuring costs to support growth plans and ensure improved risk management and governance standards

Gross margin lower on increased freight costs

Engaged corporate advisors to explore all available options to maximize shareholder value

122023 ANNUAL GENERAL MEETING

Reinforcing our strategy

Diversification of market segments delivering new opportunities

New product & service offerings

Phoslock now represented across all regions

'Distribution-led' go to market model

Focus: accessible, reliable and repeatable business

Large lake projects: unpredictable, 'lumpy', impacted by funding delays and COVID

Phosflow: large new market segment for PET

Larger lake projects: still a target, but difficult to forecast timing

'Distribution-led' go-to-market model

'Direct' sales to the 'large lakes and waterbodies' segment

Focus on smaller, but more accessible, reliable and repeatable projects

Smaller drinking water catchments / reservoirs, private waterways, golf courses, recreational water, treatment plants, mining and water reclamation

New model working, part in the US

Distribution network

Europe

• Retail and application/environmental specialists: SSI (UK), Aquatic Solutions (UK), I-Am Data (NL, BE), Unique Koi (GE)
• 4 more in discussion in UK, NL, IR and Switzerland

USA

• Multiple agreements with retail & water application companies
• Major US distributors active within the aquatic product supply market
• Leads for larger individual projects

China

• Distribution partners identified in 5 key regions
• Contracts under negotiation

South America

• Brazil: Hydroscience
• Uruguay: Frescoes Frutales

Australia & New Zealand

• Distribution partners in place Distribution partners to lead the in-country, smaller, repeatable applications of both Phosflow and Phoslock.

Highly networked in their regions, faster access to opportunities.

PET's direct sales team focused on large and more substantial lake projects.

2022 Applications Summary

2023 ( as mid-May 2023 ) Applications Summary

Pampulha

America

South

USA

Lake Leslie

Multiple locations in multiple states, using the established growth in Distribution Networks & Applicator Markets

Europe

Poland

Netherlands 2 x Belgium treatments Quotes submitted recently: large project in the Netherlands; mid-sized project for Germany; & smaller treatment in Finland

Australia & NZ

Phosflow: Australia (WA, NSW) Regional treatment mining (NT) Development underway in many new segments

China

New product portfolio

New opportunities for the business

Complete solution to addressing flowable water remediation issues

AU, NZ, Europe and USA

Focused R&D program

New product opportunities

Internal research and development program

Recent Phoslock studies

Potential to reduce GHG emissions

Can reduce methane by up to 74%

Incentive for government authorities and commercial and industrial customers

Growth Strategy Key Drivers

Customer & Commercial

People, Performance & Culture

Wyoming Business Council grant for second manufacturing plant

Investment to improve China plant capacity

Manufacturing & Supply Chain

People, Performance & Culture

Our culture invites people to Care, Collaborate and be Courageous

Outlook

Slow to recover following COVID-related impacts and general economic factors

Greater regulatory and community attention

Focused on executing sales strategy

Expect to see revenues grow over coming months, increased focus on costs

Mr David Krasnostein AM Chairman

• Item 2 Adoption of the Company's Remuneration Report (Resolution 1) – advisory resolution only
• Item 3 Re-election of Mr Barry Sechos as a Director of the Company (Resolution 2)

Proxies before meeting

Securities On Issue	624,390,509
Valid Securities Voted (For, Against, Open Usable, Open Conditional)	51,193,907
Valid Securities Voted (%)	8.20
Total Securityholders Cast	182

Resolution		For	Against	OpenBoard	OpenNon-Board	Abstain	Excluded
1Remuneration Report	Voted%% of all securities	33,297,61965.045.33	17,211,88833.622.76	609,6591.190.10	74,7410.150.01	98,782N/A0.02	71,035,280N/A11.38
2Re-elect Mr Barry Sechos	Voted%% of all securities	116,222,57695.3118.61	5,032,8444.130.81	604,6190.500.10	74,7410.060.01	393,189N/A0.06	0N/A0.00

Thank you

ASX Code: PET

Unit D, Level 2, 650 Chapel Street South Yarra VIC 3141 AUSTRALIA

T +61 3 91100002 W www.petwatersolutions.com

Lachlan McKinnon – CEO E lmckinnon@phoslock.com.au

Greg Slade - Investor Relations E ir@phoslock.com.au