GREEN360 TECHNOLOGIES LIMITED — Capital/Financing Update 2018

Dec 4, 2018

5 December 2018

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UltraCharge enters into purchase agreement to supply lithium-ion batteries to power threewheel electric scooters

• UTR signs deal to supply lithium-ion batteries for three-wheel electric scooter manufacturer, Roadix Urban Transportation Ltd

• Subject to meeting battery specifications set out by Roadix, UTR contracted to provide 16,700 batteries

• UTR’s lithium ion battery solution will deliver Roadix’s three-wheel scooters more torque and horsepower, and increase their range to 40 kilometres

• The global market for two wheel and three-wheel electric scooters is growing rapidly, with many new players around the world

• Roadix deal follows similar supply deal signed in May 2018 with Blitz Motors for their two-wheel electric scooters

UltraCharge Limited ( ASX: UTR, “UltraCharge” or “the Company” ) advises it has signed a conditional purchase agreement (“ Purchase Agreement” ) with Roadix Urban Transportation Ltd (“ Roadix ”) to provide high voltage lithium-ion batteries for their three-wheel electric scooters.

Under the deal, Ultracharge will design, develop and manufacture a lithium-ion pouch-cell battery that will be fully compatible with Roadix’s three-wheel electric scooter. UltraCharge’s battery solution will deliver Roadix scooters more torque, higher power and increase their range to 40 kilometres.

Headquartered in Israel, Roadix is the developer of MUV-e (My Urban Vehicle), a lightweight electric scooter. The company is expanding internationally to Europe, US and China.

The material terms of the Purchase Agreement are:

• Ultracharge is to design, develop, manufacture and sell customised batteries to Roadix for use in their three-wheel scooters;

• Ultracharge warrants the batteries will comply with the (commercially sensitive) technical specifications set out in the schedules to the Purchase Agreement ( Specifications );

• If the batteries fail to comply with the Specifications, the only remedy available to Roadix is to acquire batteries from another supplier;

• Roadix will assist Ultracharge in the commissioning and testing of the batteries;

• Ultracharge will retain all intellectual property in relation to the batteries;

• Neither party may assign the Purchase Agreement without the prior written consent of the other party;

• The Purchase Agreement is governed by the laws of Israel;

• There are a number of milestones that can take place up to 360 days from the date of the agreement including in lab testing, modular testing, testing in testing vehicle, and fleet testing;

• Either party will have the right to terminate if a breach is not remedied within 14 days after having had written notice to do so. Breaches include:

• Material failures to perform duties within time frames;

• Gross negligence or wilful misconduct;

• Illegal activities; and

• Insolvency of a party.

UltraCharge is contracted to provide batteries in accordance with the following forecast schedule:

Period	Forecast units
Year 1	2,000
Year 2	4,500
Year 3	10,000
Total	16,500

Commenting on the supply deal, UltraCharge CEO Kobi Ben-Shabat said: “This contract with Roadix is another significant milestone for our cobalt-free, high voltage, lithium-ion battery solution and clearly demonstrates UltraCharge’s ability to customise solutions for specific end-user requirements.

“The Roadix contract is further third-party validation of UltraCharge’s lithium-ion battery solution and comes just six months after our signing of a similar supply deal with Blitz Electric Motors.

“UltraCharge is one of only a handful of pure lithium-ion battery listed companies in the world with the ability to produce a lithium-ion battery and we are well placed to capitalise on the rapidly emerging global opportunities for lithium-ion batteries.

“With two supply contracts now in place we look forward to strengthening our position as the market leaders in the lithium-ion battery market.”

Roadix Urban Transportation CEO Amir Zaid said: “Our company vision is to become a leading global brand in the premium scooter market.

“We are incredibly excited to offer our future customers an enhanced three-wheel scooter using UltraCharge’s lithium-ion battery solution that delivers higher power, more torque and an extended range.

“Using UltraCharge’s revolutionary, cobalt-free, lithium-ion battery offering is closely aligned to Roadix’s core objective - to help the environment while increasing the overall performance of our electric scooters for our customers.”

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Roadix’s My Urban Vehicle – “MUV-e”

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ENDS

For further information, please contact:

Kobi Ben-Shabat Chief Executive Officer Tel: +972 4 991 6739

Media: Peter Harris Managing Director, Peter Harris & Associates Tel: (61) 0 412 124 833

E: kobi@ultra-charge.net

About Roadix Urban Transportation Ltd (www.muv-e.com)

Roadix Urban Transportation Ltd is the developer of MUV-e (My Urban Vehicle), a lightweight electric scooter. The three-wheeled vehicle is simple to use and automatically folds into a suitcase-sized trolley. MUV-e can be easily transported on a bus or in a car and can be stored in the office between rides. MUV-e’s self-centering suspension makes the scooter simple to steer, even through crowded urban environments. The company seeks to combine the advantages of a scooter, bicycle and motorcycle in one safe, affordable vehicle.

About UltraCharge Limited (www.ultra-charge.net)

UltraCharge is an Israel-based company that is a global leader in identifying, acquiring and developing battery technologies that offer superior qualities and new solutions for the lithium ion and flow battery markets.

UltraCharge has established a battery facility to develop its platform technologies and customising solutions to meet end user requirements, and subsequently meet global market demand.

The Company offers a full lithium ion battery solution with the following suite of intellectual property:

• Anode for Lithium Ion Batteries : The technology will replace graphite in anodes (negative pole) with nanotube fibers made from titanium dioxide. This has the potential to revolutionise the market for lithium batteries by producing a battery that is safe, has a longer lifetime and is fast charging.

• Cathode for Lithium Ion Batteries : The technology contains a high voltage LiMnNio cathode that is half the cost of commercial cathodes and can offer a battery solution that has advantages in terms of the voltage, energy capacity and power capacity.

• Electrolyte for Lithium Ion Batteries : Low cost, high performing electrolyte solution. The intellectual property is around producing a more superior electrolyte salt – LiFSI - which can increase battery lifespan and performance at high and low temperatures.