Investor Presentaiton

Details of the Capital Raising Entitlement Offer 2 for 1 fully underwritten non-renounceable entitlement offer of 51.8m New Shares at an issue price of $0.045 per New Share to raise approximately $2.3m (before costs). Top-Up Facility Eligible Shareholders who take up their Entitlements in full may also apply for additional New Shares in the Top-Up Facility. Placement Capital Raising Pricing Lead Manager and Underwriter Record Date Ranking A two-tranche placement of 31.2m New Shares at an issue price of $0.045 to certain institutional and sophisticated investors to raise approximately $1.8m (before costs). Offer price of $0.045 per New Share represents a 13.5% discount to the last closing share price of $0.052 as at Friday, 1 September 2023 and a 28.6% discount to the 5-day VWAP of $0.063 (as at Friday, 1 September 2023). Morgans Corporate Limited is acting as lead manger to the Placement and has agreed to fully underwrite the Entitlement Offer pursuant to the Underwriting Agreement (refer to Appendix B for a summary of the termination events relating to the Underwriting Agreement). The Record Date for the Entitlement Offer is 5:00pm (WST) on 11 September 2023. New Shares issued pursuant to the Capital Raising will be fully paid and will rank equally with all Shares on issue. Director Participation Circle 5 Management Pty Ltd (an entity in which Director, Mr Will Randall, has a deemed relevant interest) (Circle 5) and Kent Jason Swick and Tanya Michelle Swick (Swick), have undertaken to apply for an aggregate of up to $793,014 of their Entitlements under the Entitlement Offer, representing up to 17,622,536 New Shares. Kent Swick and his associates also intend to participate in the Placement up to $255,138 (subject to shareholder approval) and to underwrite the Shortfall of the Entitlement Offer up to $395,012. In any event, both Circle 5 and Swick have confirmed that they will not subscribe for shares in excess of 19.99% of the Company. 6

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