ABX GROUP LIMITED — Capital/Financing Update 2022

Apr 28, 2022

ASX Announcement

29 April 2022

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ASX: ABX

$7.5M modern manufacturing grant for Alcore

Alcore has been granted $7.5M from the Australian Government’s Modern Manufacturing Initiative to support its proposed $16.4M aluminium smelter bath recycling plant in Bell Bay, Tasmania

The plant is understood to be the world’s first commercial plant to recycle aluminium smelter bath into valuable chemicals

The main product will be aluminium fluoride, an essential chemical for aluminium smelting, for which Australia currently imports 100% of its requirements

ABx Group Limited (ASX: ABX) ( ABx ) advises that its 83%-owned subsidiary ALCORE Limited ( Alcore ) has been granted $7.5M from the Australian Government’s Modern Manufacturing Initiative[1] to support its proposed $16.4M aluminium smelter bath recycling plant in Bell Bay, Tasmania.

The plant is understood to be the world’s first commercial plant to recycle aluminium smelter bath into valuable chemicals. The plant is proposed to transform 1,600 tonnes per year of aluminium smelter bath into hydrogen fluoride and other industrial chemicals. Most of the hydrogen fluoride will be further processed to aluminium fluoride, an essential chemical for aluminium smelting, for which Australia currently imports 100% of its requirements.

A significant benefit of the project is the establishment of domestic aluminium fluoride production to protect the aluminium industry from supply chain disruption. This will create self-sufficiency, increasing Australia’s manufacturing resilience and capability, while reducing dependence on international markets that have been increasingly subject to trade issues and shipping disruptions.

Alcore’s longer term plan is to expand the plant by 15 times, which will process all of Australia’s aluminium smelter bath, and supply more than 80% of Australia’s aluminium fluoride requirements.

ABx and Alcore CEO, Dr Mark Cooksey, said he was pleased that Alcore’s technology was being supported by the Australian Government.

“We are eager to deliver our Tasmanian project as soon as possible, to increase the security of supply for Australian aluminium smelters and create highly skilled manufacturing jobs. The production of aluminium fluoride from aluminium smelter bath is an exemplary illustration of the circular economy.”

1 The grant provides for up to 50% of eligible project expenditure. See Grant Opportunity Guidelines: Modern - – Manufacturing Initiative Manufacturing Translation Stream Recycling and Clean Energy Priority Round 2

ABx Group Limited ABN 14 139 494 885

Level 5 52 Phillip Street Sydney NSW 2000 P: +61 2 9251 7177 F: +61 2 9251 7500

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This announcement is approved for release by the board of directors.

For further information please contact:

Dr Mark Cooksey CEO ABx Group Limited Mobile: +61 447 201 536 Email: mcooksey@abxgroup.com.au

Website: abxgroup.com.au

Disclaimer Regarding Forward Looking Statements

This ASX announcement (Announcement) contains various forward-looking statements. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements are inherently subject to uncertainties in that they may be affected by a variety of known and unknown risks, variables and factors which could cause actual values or results, performance, or achievements to differ materially from the expectations described in such forward-looking statements.

ABx does not give any assurance that the anticipated results, performance, or achievements expressed or implied in those forward-looking statements will be achieved.