AMPOL LIMITED — Capital/Financing Update 2021

Jul 29, 2021

30 July 2021

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ASX Release
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AMPOL PARTNERS WITH ARENA TO COMMENCE DEVELOPMENT OF NATIONAL ELECTRIC VEHICLE FAST CHARGING NETWORK

Ampol Limited (ASX:ALD) today announces it has entered into a funding agreement with the Australian Renewable Energy Agency (ARENA) through the Future Fuels Fund (FFF) to deliver a national fast charging network to support the uptake of battery electric vehicles in Australia.

Ampol will deliver fast charging bays at over 100 sites across its national retail network, covering the Greater Sydney, Melbourne, Brisbane and Perth regions, as well as Newcastle, Wollongong, Central Coast, Gold Coast, Sunshine Coast and Geelong. ARENA will co-fund with a contribution of $7 million to support Ampol’s investment.

Matt Halliday, Managing Director and CEO said: “Electrification and electric vehicles will play a critical role in reducing emissions across Australia’s transport sector over the coming years. Today’s announcement highlights the key role our existing network, skills and infrastructure will play in delivering EV charging to Australian consumers.

“Ampol’s national retail network, along Australia’s major highways and close to existing high-traffic roads, closely matches our country’s population and is strategically located to help minimise range anxiety for EV users. We remain confident in our ability to evolve our retail network to support battery electric vehicle adoption,” Matt said.

Today’s announcement follows the release of Ampol’s Future Energy and Decarbonisation Strategy, which outlined a commitment to achieving net zero emissions from operations by 2040 and to investing more than $100 million in future energy projects through to 2025.

Ampol expects that electric vehicles, including battery electric vehicles (BEVs), will play a key role in decarbonising the transport sector and gradually displace internal combustion engines, particularly in the light passenger fleet, accelerating rapidly after 2030 to become the primary mobility energy source by 2050.

Matt Halliday continued: “E-mobility infrastructure is a central pillar to capturing our existing customer base through the energy transition, as we look to expand our role in electricity to make the ease of the current liquid fuels era translate into the future BEV environment. This includes exploring ‘at-forecourt’, ‘at-home’ and ‘at-destination’ solutions.”

Ampol will commence works on the network in the second half of 2021.The chosen sites will feature EV chargers supplied with renewable energy or covered by green certificates and will be capable of delivering charge to a BEV at a minimum of 50kw with each site having the capacity to charge two BEVs concurrently. The agreement is part of the first round of FFF funding and Ampol was successful in 97% of sites applied for.

Authorised for release by: the Disclosure Officers of Ampol Limited.

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