CAP-XX Result of AGM

CAP-XX Limited

("CAP-XX" or the "Company")

Result of Annual General Meeting

The Board of CAP-XX announces the resolution put to shareholders at the Company's Annual General Meeting held earlier today was duly passed.

The Company also provided the following update to the current operating performance:

· Product Sales are running at a higher rate (6%) than the same period last year

· Cost savings from the operational initiatives are beginning to flow and the cash burn rate is decreasing accordingly

· Sales order book is robust and is higher than the average order balance for the previous financial year

· The Company has received the latest instalment of the Federal Government's R&D Tax rebate. Funds received were $200k higher than budget expectations

· Worldwide interest in the large prismatic cell in both the automotive and battery replacement continues to progress

· Issues with the SMD packaging have been overcome and samples will be shipped to interested parties before the end of the current calendar year

· Cash reserves balance as at the end of October is A$3.0m

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