GREEN360 TECHNOLOGIES LIMITED — Board/Management Information 2013

May 23, 2013

24 May 2013

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LETTER TO SHAREHOLDERS

Dear Shareholders,

I am writing to provide you with an update on progress at Lithex Resources and to introduce the Company's new Board of Directors, including myself as Independent Chairman.

New graphite assets remain key priority

In December last year, Lithex Resources successfully acquired a suite of prospective graphite assets from Far North Minerals Pty Ltd. Being located in largely underexplored Australian regions that are considered to hold significant graphite potential, the new assets quickly took top rank in the Company's portfolio, ahead of the existing lithium, tantalum, tin and rare earth projects in Western Australia.

These graphite assets remain the Company's key priority. The attraction of graphite is based on its unique long-term growth potential, driven by the growing usage of battery-powered technology. Graphite is an integral component in so many common, everyday devices, including tablets, smart phones and laptops. The in-demand commodity is also important in applications such as electric cars, electronics, manufacturing, nuclear reactors, aircraft and automotive production and other developing energy markets. Importantly, the physical and chemical properties of graphite make the material very difficult to substitute.

Focused strategy for value creation

Lithex has developed a focused strategy for shareholder value creation. This involves targeting growth from a single commodity – graphite, in a single country – Australia.

This strategy is intended to maximise both operational and shareholder value. Operationally, it allows the Company's limited human and financial resources to be directed in a focused manner, which is critical for any junior explorer. From an investment perspective, it positions Lithex with strong leverage to the growth potential of the graphite market, but without the level of sovereign risk often associated with projects in less developed countries.

Following this, the near-term focus lies in understanding the graphite potential of the Company's highest priority graphite projects – Munglinup in far south WA and Plumbago in northern NSW. Exploration programs have been developed for both projects, with the goal to accelerate each towards monetisation in the shortest time frame possible.

At the same time, we have embarked on an immediate cost cutting program to reduce the cash burn rate to as low a level as possible for the current strategy. We are also conducting a review of all of our currently held tenements.

New Board and Management team

The shift in strategic focus catalysed a number of internal changes, including a Board renewal process. This process was completed on 15 May 2013, with the appointment of Mr Stuart House as Non-Executive Director and myself as Independent Chairman. Completing a three person Board is Mr John Conidi, who continues on as a Non-Executive Director.

I believe that the new Board possesses the right mix of skills and experience to propel the Company forward in its new graphite foray and to create maximum value for shareholders. Mr Conidi and Mr House are both successful businessmen who bring to the Company significant expertise in the areas of finance and law. My

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Lithex Resources Limited (ASX: LTX)

background lies in the management of listed and private companies in the resources and energy sectors, as well as consulting in corporate governance.

Head Geologist, Brendan Borg, remains as the Company's lead executive, providing the technical and geological expertise required for both assessment and advancement of our projects.

Active work program set to commence – fully funded for CY2013

The early stage exploration activities we have undertaken to date at both Munglinup and Plumbago have been very promising and have indicated that more extensive investigation is warranted. Initially we are focusing on Munglinup, as this is developing as our flagship project.

The next step for Munglinup involves a focused diamond drilling program of up to an aggregate of 600 metres on an area we have identified as having a strong graphitic conductor. This drilling program has been approved by the Western Australia Department of Mining and Petroleum, and is expected to commence today.

The Company has also looked to expand the Munglinup project area by securing a fifth Exploration Licence. The application for this Licence is currently pending, but if granted, will more than double the size of our existing holding. The Licence will also give us access to the Young River Graphite Deposit – an exciting graphite prospect that has known graphite occurrences.

The next steps for Plumbago involve undertaking an Airborne EM survey over the project area to identify the strongest target areas for sampling, geological mapping and future drilling activity. The exact timing on this has not yet been determined.

Pleasingly, our current cash position is strong and more than adequately covers all of the presently anticipated exploration activities for the remainder of the calendar year. The cash position will be reinforced by the implementation of the cost cutting program referred to above. Our exploration programs have been designed with fiscal discipline and we are committed to keeping within our budgets.

Thank you

With full ownership of an underexplored, yet highly prospective suite of Australian graphite assets, and a clear focused development strategy in place, the road ahead for Lithex Resources is promising.

I thank you for your continued support of the Company and look forward to communicating regularly with you in the future.

David Williams Chairman Lithex Resources Limited

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