Tranche 2 Strategic Funding Facility From US Institutional Shareholder

ChemX Materials (ASX:CMX) (ChemX or the Company), an Australian based high-purity critical materials business, is pleased to announce that it has received a further $1,700,000 from Mercer Street Global Opportunity Fund, LLC, a US-based investment fund managed by Mercer Street Capital Partners, LLC (together, the “Investor”) pursuant to the convertible note agreement between the Company and theInvestor that was announced on 4 August 2023 (Convertible Note Agreement).

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As previously announced, this financing forms part of the Company’s strategy to secure key investment capital from leading US Institutions focusing on decarbonisation technologies and critical minerals to advance ChemX’s projects in high-purity materials, which are essential for the global energy transition.

Pursuant to the terms of the Convertible Note Agreement, the Company will now proceed to issue 2,040,000 convertible notes with a face value of $1 each (Convertible Notes), 8,451,736 options, and 155,668 fully paid ordinary shares. Full details of these securities are set out in the Company's ASX announcement dated 4 August 2023 and the Company’s Notice of General Meeting released on ASX on 25 August 2023. The issue of these securities was approved by shareholders on 26 September 2023.

For facilitating the investment, Amvest Capital Inc (acting through Delphos MMJ LP) will be paid 6% of the aggregate proceeds raised from the Investor for the subscription of the Convertible Notes.

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