Saving Your Space and Our Planet with Fresh Thinking

A letter from Michael McDonald, Non-Exec Chairman at ICEE Group Holdings Ltd:

We founded ICEE to disrupt the global expanded polystyrene (EPS) packaging market by bringing to market our world’s first, patented hinges and folding EPS box. We believed perishables could be delivered fresh and in a sustainable way, without filling trucks, warehouses and landfills with empty rigid foam boxes.

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The company has evolved over our exciting journey to develop and offer new products and more focused strategies; however, our core principles of a globally scalable, low capital business remain the same. Our vision is to develop a leading technology commercialisation group, with royalties and direct sales revenue coming from all major global markets.

Eighteen months ago, we recognised the need for significant strategic changes to adapt to the changed environment. Having executed these changes, we are now on the verge of major product releases and new exciting opportunities in both Australia and the USA.

Attached is our 2021 Pre-Series A Information Memorandum. Under this offer we are raising A$2.5M to enable us to execute our sales strategy with our ICEE partner in the USA, launch our next-evolution products in Australia and secure cornerstone customers for all three products over the next 18 months.

Our offer is priced attractively at $0.20 per share. In addition, to offset any dilution of our existing shareholders arising through this offer, our founding shareholders have committed to convert shares from their existing shareholdings into a new valueless class of shares, with no voting rights.

WE BELIEVE THIS OFFER WILL MAXIMISE

THE POTENTIAL UPSIDE OF ANY NEW

INVESTMENT MADE THROUGH THIS RAISE.

Your Board is excited by the opportunities available to the company in the immediate future. And, we believe we are heading into the most exciting growth phase in the life of ICEE Group Holdings, since its inception.

As always the Board is thankful for your continued support and we look forward to speaking with you over the coming weeks.

About ICEE Group Holdings Ltd

The ICEE Group uses fresh thinking to create technology that can be licensed to major global manufacturers.

Their globally patented folding box revolutionises traditional polystyrene boxes by saving up to 65% in storage and transport. Using their patented technology, these fold flat insulated boxes can be manufactured in existing factories anywhere in the world. Apart from sales in Australia, ICEE has already secured licenses in major markets such as, the USA, Japan, Korea & Italy.

Their next evolution versions, compostable and reusable, are in line with the latest social trends underpinning future growth and success. Their compostable version, eeco6®, has the same insulation properties as expanded polystyrene but is made from biobased materials and is industrially compostable. The reusable version, Bouncee®, is designed for hundreds of reuses by commercial customers aiming to keep perishables fresh and is a cost-effective alternative to the great Australian ice box in the retail market.

All of ICEE’s products are made from particle foams, containing 98% air and 2% plastic, and are focussed on solving customer problems in the multi-billion-dollar food, retail and pharmaceutical markets.

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