SCIDEV LTD — Capital/Financing Update 2021

Nov 1, 2021

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Unit 1 8 Turbo Road Kings Park NSW 2148 Australia ABN 25 001 150 849

Email: projects@scidev.com.au Website: www.scidev.com.au ASX code: SDV

Companies Announcements Office Australian Stock Exchange

2 November 2021

A$20m Capital Raising to Accelerate Business Growth

Highlights

• Successful completion of A$18m placement at $0.65 per share

• Non-underwritten Share Purchase Plan to be offered to existing eligible shareholders to raise up to a further A$2m at $0.65 per share

• Funds raised will be primarily used to consolidate and expand Australian manufacturing capacity, fund an existing acquisition payment and fund new green chemistry initiatives

SciDev Ltd (ASX: SDV) (‘ SciDev ’ or ‘ the Company ’) is pleased to announce that is has received binding commitments from domestic and international institutional investors for $18m via an institutional placement ( Placement ) of 27,692,308 new fully paid ordinary shares ( New Shares ). The offer was heavily oversubscribed.

SciDev will also undertake a Share Purchase Plan ( SPP ) to raise up to a further $2m at $0.65 per share, the same price as the Placement.

The funds from the Placement and the SPP will be directed towards:

• Consolidation of SciDev’s Australian production facilities, including an upgrade of laboratory capability and expansion of our manufacturing capability

• Fund an upcoming acquisition payment for SciDev Water Services (Haldon), which achieved 120% of target EBITDA in FY2021

• Funding new green chemistry initiatives to displace oil-based chemistries in the global $11bn oil and gas market

SciDev Managing Director and Chief Executive Officer Lewis Utting said: ‘ We are delighted with the strong response to the Placement. I would like to thank our existing shareholders for their ongoing support and welcome a range of new, high quality institutional investors to our register. The Placement will allow us

to accelerate the growth opportunities across our business, specifically in the large water treatment vertical. The funds will support the expansion of our manufacturing capabilities in Australia, securing our supply chain, improving our margins, and allowing our highly skilled team to continue to develop new technologies to help our clients solve their pressing operational and environmental issues ”.

Placement Details

The placement will result in the issue of 27,692,308 shares at an issue price of $0.65 per share to raise $18m before the costs of the offer. The issue price of $0.65 per share represents a 9.7% discount to the Company’s last traded price of $0.72 per share and a 13.3% discount to the 5-day VWAP of $0.75 per share.

The Placement is being undertaken within the Company’s existing capacity under ASX Listing Rules 7.1 (15,299,787 shares) and 7.1A (12,392,521 shares). The Placement and the full allocation of shares in the non-underwritten $2m SPP will result in approximately 30,769,231 New Shares being issued, representing 19% of the Company’s existing shares on issue.

Settlement of the Placement is expected to occur on Monday, 8 November, with the trading of the New Shares expected to commence on Tuesday, 9 November.

Canaccord Genuity (Australia) Limited and Taylor Collison Limited acted as Joint Lead Managers to the Placement.

Share Purchase Plan

The Company also advises that it will undertake a SPP following completion of the Placement. The SPP will be offered to eligible shareholders to raise up to a further $2m at the same issue price as the Placement.

The details and timing of the SPP are detailed below.

Equity Raising Timetable

Event	Time/Date
Record Date for Share Purchase Plan	Monday, 1 November 2021
Announcement of Placement results and SPP	Tuesday, 2 October 2021
Settlement of New Shares issued under the Placement	Monday, 8 November 2021
Allotment and commencement of trading of New Shares issued under theplacement	Tuesday, 9 November 2021
SPP Offer Document distributed to Shareholders	Tuesday, 9 November 2021
Share Purchase Plan Closes	Tuesday, 23 November 2021
Allotment of New Shares under the Share Purchase Plan	Friday, 26 November 2021
Commencement of trading of New Shares under the Share Purchase Plan	Monday, 29 November 2021

Lewis Utting Managing Director & Chief Executive Officer

This release has been approved by the Board of Directors of SciDev Limited.

For Further Information:

Corporate

Investors

Lewis Utting – MD & CEO Craig Sainsbury – Market Eye Heath Roberts – Company Secretary craig.sainsbury@marketeye.com.au (+61) 2 9622 5185 (+61) 428 550 499

About SciDev

SciDev is a leader in the environmental solutions market focused on water intensive industries. SciDev brings together world-class technology, chemistry and application to solve pressing operational and environmental issues for the water, oil and gas, mining and construction markets.