SPRINTEX LIMITED — Capital/Financing Update 2020

Oct 27, 2020

SPRINTEX LIMITED ABN: 38 106 337 599

ASX Code: SIX

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28 October 2020

ISSUE OF SECURITIES IN SATISFACTION OF OBLIGATIONS

Sprintex Limited (ASX:SIX) (the Company ) is pleased to advise that it has completed the following issues of securities in satisfaction of its obligations under a number of the recapitalisation agreements (further details of which were set out in the notice of meeting announced on 28 August 2020 and the Company’s ASX announcement dated 31 August 2020) following shareholder approval obtained on 28 September 2020.

Loan – Lidx:

The Company has issued an aggregate of 5,755,814 fully paid ordinary shares in the capital of the Company ( Shares ) to Lidx Technology Limited (Hong Kong Company No. 2761440) ( Lidx ) (an entity controlled by Director, Li Chen) in lieu of a financing charge payable to Lidx (comprising 639,535 Shares) and in lieu of repayment of $440,000 under the loan agreement entered into between the Company and Lidx (being, 5,116,279 Shares).

Debt Conversion – WPF:

The Company has issued 10,146,790 Shares to Wilson’s Pipe Fabrication Pty Ltd (ACN 082 800 397) ( WPF ) in lieu of part conversion of the amount owing to WPF of $1,462,642. A cash payment of $600,000 will be made to WPF following completion of the offer under the Company’s recapitalisation prospectus dated 19 October 2020.

Appointment Letter - Mr Wayne Knight:

The Company has issued 5,000,000 Options, exercisable at $0.086 on or before the date that is three years from the date of issue, to Mr Wayne Knight, who will be appointed as Chairman of the Company upon reinstatement of the Company’s securities to trading on the official list of the ASX. The Company notes that the Options will be cancelled where the Company is not reinstated to trading on or before 31 December 2020.

For further information, please contact:

R Molkenthin, Company Secretary 08 9262 7277

This ASX announcement was authorised for release by the Board of Sprintex Limited.

Unit 2 / 63 Furniss Road ,Darch WA 6065 Phone: +61 8 9262 7277 Email: accounts@sprintex.com.au URL: www.sprintex.com.au