ALTECH BATTERIES LTD — Capital/Financing Update 2014

Feb 27, 2014

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28 February 2014

Dear Optionholder

The Directors of Australia Minerals & Mining Group Ltd (“ AMMG ”) are pleased to announce a placement of 21,465,500 new options to acquire fully paid ordinary shares in the capital of AMMG (exercisable on or before 31 May 2015 at an exercise price of $0.20) (“ New Option ”) which will be offered to holders of options (exercisable on or before 31 March 2014 at an exercise price of $0.20) (“ Listed Option ”) on the basis of one New Option for every Listed Option held by optionholders registered at 5.00pm (WST) on 31 March 2014 at an issue price of 0.2 cents per New Option to raise approximately $42,930.

All holders of Listed Options registered at 5.00pm WST on 31 March 2014 will be invited to take up New Options under the Placement. .

The New Options will be issued at a cost of 0.2 cents per New Option. The latest trading price on ASX of the Listed Options prior to the date of this letter was 0.1 cents on 27 February 2014. After expenses of the Placement, any residual funds will be allocated to the general working capital of the Company.

All holders of Listed Options whose registered address is in Australia will be invited to participate. Optionholders whose registered address is outside of Australia will not invited to participate in the Placement.

The Company will be seeking shareholder approval for the Placement and as such a notice of meeting will be sent to shareholders shortly.

Full details of the Placement will be contained in a prospectus which will be lodged with the Australian Securities and Investment Commission and ASX Limited on or about Monday, 24 March 2014 (“ Prospectus ”). The Prospectus will be available on ASX’s website and the Company’s website at www.ammg.com.au. The Prospectus together with a personalised acceptance form will be mailed to all eligible optionholders on or about 10 April 2014.

Applications for New Options under the Placement may only be made by completing the Acceptance Form which accompanies the Prospectus. Optionholders eligible to participate in the Placement should read the Prospectus carefully. For further information on the Placement you should contact your professional adviser.

Yours faithfully

Piers Lewis Company Secretary

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