Ann: Trading Halt, page-54

Offer price of $0.0220 per New Shares (“Offer Price”), representing a:• 12.0% discount to last close price of $0.0250 on Monday, 19 February 2024; and• 10.3% discount to 5-day VWAP of $0.0245.New Shares issued under the Placement and SPP will be issued at the Offer PriceKey offer statisticsKey offer statisticsOffer Price $0.0220Total gross proceeds under the Offer $4.0 millionTotal number of Shares prior to the Offer 1,106,730,667Total number of Shares offered under the Offer 181,818,200Total shares on issue immediately after Completion 1,288,548,867New Shares as a percentage of shares at Completion 14.1%Total Performance Rights on issue1 prior to the Offer 41,000,000Indicative market capitalisation on an undiluted basis after Completion $31.7 millionRationaleThe Equity Raising will be used towards:• Construction and installation of 9 new PCEs and heating and lighting;• Own brand market penetration;• Several vertical integration opportunities; and• Cost of the offer.Director Participation Directors of ECS Botanics intend to participate in the Placement, subject to shareholder approval andtotal demand for the Offer.Settlement Agent Bell PotterBroker selling Fee 1.5%