ELEMENT 25 LIMITED — Capital/Financing Update 2023

Jul 10, 2023

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ANNOUNCEMENT | 11 JULY 2023 | ASX: E25

STELLANTIS COMPLETES FIRST US$15 MILLION EQUITY INVESTMENT IN ELEMENT 25

• Global automaker Stellantis has completed a US$15 million (A$22.6M at A$1 per share) first investment in Element 25 after conditions of the companies’ agreement announced on 9 January 2023 were satisfied

• E25 will use proceeds from the investment towards its development of a battery-grade high purity manganese sulphate monohydrate (HPMSM) facility in the USA

• The agreement between Stellantis and E25 combines take or pay commitments for the supply of 45kt of HPMSM from the facility over five years and further funding of US$15M structured as a pre-payment agreement to be repaid out of HPMSM supplied to Stellantis

• E25 also has an agreement to supply General Motors’ USA Ultium Battery Plants with HPMSM, which includes a US$85M loan facility , taking E25 project commitments to US$115M .

Element 25 Limited ( E25 or Company ) ( ASX:E25 ) is pleased to advise the conditions precedent for the first investment tranche by global automaker Stellantis N.V. ( Stellantis ) comprising a US$15 million share placement in E25 have now been satsified and this transaction has been completed.

In accordance with the terms of the agreement, E25 has issued 22,569,967 shares to Stellantis at A$1.00 per share for total proceeds of A$22,569,967 . E25 will use proceeds for planned engineering and construction activities to advance its proposed USA-based high purity manganese sulphate monohydrate ( HPMSM ) processing facility ( Facility ) which it plans to build in Louisiana, USA.

This follows E25’s announcement on 9 January 2023 of the signing of a binding agreement ( Agreement ) with Stellantis to supply battery-grade HPMSM from E25’s proposed facility in Louisiana.

E25’s Agreement with Stellantis combines take-or-pay offtake commitments for 45Kt of HPMSM from the facility over five years with US$30M in two tranches of project funding towards the facility capital cost. Tranche 1 of the funding comprises a US$15M equity investment in E25 . The further key commercial terms are outlined in detail in Appendix A to the announcement in January[1] .

Completion of the first investment tranche represents an important step in the overall project financing, and in conjunction with E25’s recently announced US$85M financing facility with General Motors[2] , now takes project commitments to US$115M from two leading global electric vehicle manufacturers.

1 Reference: Company ASX Release dated 9 January 2023

2 Reference: Company ASX Release dated 26 June 2023

W: element25.com.au

Element 25 Limited

ABN: 46 119 711 929 T: +61 8 6375 2525 E: admin@e25.com.au

This announcement is authorised for market release by Element 25 Limited’s Board of Directors. Company information, ASX announcements, investor presentations, corporate videos, and other investor material in the Company’s projects can be viewed at: www.element25.com.au.

Justin Brown Media Inquiries: Managing Director Nathan Ryan Email: admin@e25.com.au Email: nathan.ryan@nwrcommunications.com.au Phone: +61 (8) 6375 2525 Phone: +61 (0) 420 582 887

Element 25 Limited