Response to ASX Aware Letter

Wide Open Agriculture Limited ACN 604 913 822 (WOAor the Company) refers to ASX's query letter dated 27 May 2024 and provides responses to the specific queries set out in that letter.

Capitalised terms used in this letter have the same meaning given in ASX's query letter unless otherwise defined.

Background

Prior to addressing ASX's queries we want to highlight WOA’s objectives and areas of focus following the divestment of the "Dirty Clean Food" business as approved on 22 April 2024 by Shareholders. We provide a summary below which may help give context to our response:

A. Financial condition

The Company's current financial situation is that as announced on 30 May 2024, it has successfully received firm commitments for a total of $6.11 million from Sophisticated and Institutional investors under Tranche 2 Placement, thus bringing the total amount raised under the Placement to $7 million. The Tranche 2 Placement is subject to shareholder approval, as the Company has utilised its placement capacity with the Tranche 1 placement.

B. Company's Objectives

As previously noted, the quarterly report was lodged on 30 April 2024 (April QR), due to an administrative oversight referred to the NAB Facility which was cancelled in mid-March 2024. However, the total cash available to the Company was correctly reported in the April QR. More importantly, one week prior to the lodgement of the April QR i.e. on 22 April 2024, WOA Shareholders voted on the divestment of the "Dirty Clean Food (DCF) Business" and a Notice of Meeting was reviewed by ASX and lodged on 21 March 2024 (March Notice), which reiterated the Company's strategic objectives and financial situation.

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