Offer Booklet Non-Renounceable Rights Issue Offer

The directors (Directors) of Energy Technologies Limited (ASX: EGY) ACN 002 679 469 (Company) are pleased to offer you the opportunity to participate in a non-renounceable rights issue on the basis of 1 new fully paid ordinary share in the Company (each, a New Share) for every 1 existing share in the Company (each, a Share) held on the Record Date held (Entitlement) at an issue price of $0.03 (3 cents) per New Share (Offer Price) to raise approximately $12.7 million (before costs) (Offer).

Shaw and Partners Limited have been appointed as lead manager of the Offer. The Offer is not underwritten.

The Offer is available to all Shareholders who are, as at 7.00pm (Melbourne time) on 17 September 2024 (Record Date), registered (in accordance with the records of the Company's Share Registry) with a registered address in Australia, New Zealand and certain shareholders in the United Kingdom (Eligible Shareholders).

Under the Offer, Eligible Shareholders are also able to apply for New Shares in excess of their Entitlement (Additional New Shares). The allocation of Additional New Shares and any scale back will be subject to the availability of Additional New Shares and the Company's absolute discretion.

The Offer Price ($0.03 (3 cents)) represents a:

• 14.3% discount to the last traded price of A$0.035 as at 11 September 2024;
• 14.3% discount to the 10-day volume weighted adjusted price of A$0.035 as at and including 11 September 2024; and
• 7.7% discount to theoretical ex-rights price of A$0.033.

Please note that Additional New Shares will only be allocated to you if there are sufficient New Shares from Eligible Shareholders who do not take up their full Entitlement or from New Shares that would have been offered to Ineligible Shareholders had they been eligible to participate in the Offer (Shortfall). In addition, the Company intends to allow the Lead Manager (defined below) to place any Additional New Shares under a Shortfall in its absolute discretion.

The gross proceeds of the Offer will be used by the Company to reduce debt, expand EGY’s sales division, and replenish general working capital reserves. Proceeds will also be applied to the costs of undertaking the Offer.

The pro forma consolidated balance sheet illustrates the effect of the Offer on the financial position of the Company.

The Offer is to be made pursuant to s708AA of the Corporations Act and may be summarised as follows:

• Australian and New Zealand residents and certain shareholders from the United Kingdom holding Shares may subscribe under the Offer for 1 New Share for every 1 Share held as at the Record Date.
• The Offer of approximately 422,074,788 New Shares to an amount of approximately $12.7 million (before costs).
• New Shares are priced at $0.03 (3 cents) per New Share.

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