ASX:CG1 - EGM Update

EGM Update

Released 18 Aug 2026 - 9:16 AM

Announcement PDF ASX RELEASE 18 August 2026 Carbonxt Group Limited | Level 37, 180 George Street, Sydney NSW 2000 ASX: CG1 | E info@cglimited.com.au | P +61(0) 413 841 216 CARBONXT.COM EGM Update Carbonxt Group Ltd (ASX: CG1) (Carbonxt or the Company) refers to its announcements of 6 July 2026 and 31 July 2026, together with its quarterly activities report released on 31 July 2026. The Company confirms it will not seek shareholder approval to apply the early-conversion discount across all options on issue. The discount will apply only to the options that attach to the convertible notes issued to Pure Asset Management and Phelbe Pty Ltd. Shareholder approval will be sought for those options alone, and only if ASX grants the waiver required under ASX Listing Rule 6.23.3. Work continues on the documentation required to effect the Company's previously announced two-stage balance sheet restructure (the Restructure), with the EGM now expected to occur in late September 2026. This timing remains within the deadlines under the Company’s existing convertible note and financing arrangements. A Notice of Meeting setting out full details of the resolutions, together with an Independent Expert’s Report, will be dispatched to shareholders ahead of the meeting. The Independent Expert’s Report relates to the resolution under item 7 of section 611 of the Corporations Act, which is required because conversion of the notes may take a holder’s voting power above 20%. Phelbe and its associates will be excluded from voting on the resolution This announcement has been authorised for release by the Board of Directors. - ENDS - Enquiries Warren Murphy Mark Flynn Managing Director | Carbonxt Limited Investor Relations | Bantry Advisors P +61 413 841 216 P +61 416 068 733 E w.murphy@carbonxt.com E mark.flynn@bantryadvisors.com About Carbonxt Carbonxt (ASX:CG1) is a cleantech company that develops, and markets specialised Activated Carbon products, focused on the capture of contaminants in industrial processes that emit substantial amounts of harmful pollutants. The Company produces and manufactures Powdered Activated Carbon and Activated Carbon pellets for use in industrial air purification, wastewater treatment and other liquid and gas phase markets.

We've narrowed the scope of one part of our balance sheet restructure. The early-conversion discount will not apply to all options on issue, as originally flagged. Instead, it will only apply to the options attached to the convertible notes held by Pure Asset Management and Phelbe Pty Ltd, and we'll only put that to a shareholder vote if ASX first grants the waiver required under Listing Rule 6.23.3.

Work on the broader two-stage restructure is continuing, and we now expect the EGM to be held in late September 2026. This timing still sits comfortably within the deadlines set out in our existing convertible note and financing arrangements, so nothing here changes the overall plan.

Ahead of the meeting, shareholders will receive a Notice of Meeting with full details of the resolutions, along with an Independent Expert's Report. That report is required because converting the notes could take a holder's voting power above 20%, which triggers a specific resolution under the Corporations Act. Phelbe and its associates won't be able to vote on that resolution.

We know restructures like this involve a lot of moving parts, and we'll keep you updated as the documentation progresses. If you have questions about this announcement, please get in touch through the question box on this page.

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