• Placement of Entitlement Offer shortfall shares and additional placement completed
• Funds raised under the Shortfall and oversubscription of approximately $2.48 million
• Total funds raised through the placements, Shortfall and Entitlement Offer are approximately $5.4 million before costs

X2M Connect Limited (ASX:X2M) has advised of the placement of the Entitlement Offer shortfall shares and an additional placement. The Company has placed the shortfall of 126,954,945 shares (the 'Shortfall') from the Entitlement Offer which closed on 1 August 2025. The Shortfall placement was successfully managed by Cygnet Capital who received strong support from Australian Institutions and high net worth shareholders. Due to strong investor demand and oversubscription for the Shortfall, additional shares were also placed on the same terms as the Shortfall, resulting in funds raised under the Shortfall and oversubscription of approximately $2.48 million. This will result in the issue of approximately 192.4 million shares and an equal number of free attaching options. Together with settlement of the recently approved $2.6m placement announced on 15 July 2025, an amalgamated total of approximately 392.4 million shares are expected to be issued on 25 August 2025. The shares will rank equally with existing fully paid ordinary shares on issue. Total funds raised through the placements, Shortfall and Entitlement Offer are approximately $5.4 million before costs. These funds will substantially strengthen X2M's balance sheet, allow the elimination of debt, and position X2M well for its next growth phase across Australia and in new markets.

With 1HFY26 mandates already exceeding FY25 full year revenue, X2M has entered FY26 with strong momentum, expanding across Asia and the Middle East, advancing AI energy solutions, and accelerating commercialisation in key markets.