• Calix to sell its ownership in lithium Mid-Stream Demonstration Plant joint venture to PLS Group for A$11.4m
• Calix to recognize a one-off, non-cash accounting impairment charge of $30.2m
• Transaction removes ongoing funding requirements and execution exposure for Calix

Calix Limited (ASX: CXL) and PLS Group Limited (ASX:PLS) have announced a revised structure to advance the Mid-Stream lithium technology, under which PLS will acquire Calix's ownership in the existing Demonstration Plant joint venture for a sum of A$11.4m in cash. This will repay Calix's net capital contribution to the Project and Unincorporated Joint Venture (UJV) to date. The $11.4m cash payment will be paid in two equal instalments, the first being payable on completion of the transfer of the UJV interest and the second no later than 31 July 2026. Following the execution of a binding term sheet, Calix has reviewed the carrying value of its investment in the Mid-Stream Demonstration Plant assets and expects to recognize a one-off, non-recurring, non-cash accounting impairment charge of $30.2m in respect of the carrying value of these assets in the 1H FY26 financial statements. The cash benefit to Calix releases the capital previously invested into the Project and significantly improves the cash and liquidity position of the Group balance sheet. It also removes any ongoing funding requirements and execution exposure for Calix associated with the Demonstration Plant. Calix has previously recognized non-cash accounting gains associated with its participation in the UJV, and the impairment of $30.2 million is broadly consistent with the cumulative non-cash accounting gains recognized since commencement of the project.