GREEN360 TECHNOLOGIES LIMITED — Capital/Financing Update 2019

May 8, 2019

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ASX Release

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9 May 2019

ULTRACHARGE LIMITED ACN 140 316 463

Level 26 140 St Georges Terrace, Perth Western Australia 6000 Tel: +61 3 9191 0135 Fax: +61 3 8678 1747 Web: www.ultra-charge.net

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Directors

Mr Kobi Ben-Shabat Mr David Wheeler Mr Doron Nevo Mr Yuri Nehushtan Mr John Paitaridis

ASX Code : UTR

Shares : 937,547,287

Options (various) : 174,000,000

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Market Update

UltraCharge Limited (‘UTR’ or ‘Company’) provides the following update on its operations.

During the last 4 months the Company’s cash position has led the executive management to recommend to the board to undertake a strategic review of its cost structures.

The main decisions directed by the Board were to:

• Put the Company’s R&D activities on hold and focus on previously announced sales activities that will result in short term cash inflow;

• Raise capital to support the continuous operation of the Company (which includes current projects including Blitz and Roadix);

• Reduce costs associated with IP & Patents maintenance;

• Reduce cost across all aspects of the business and cash preservation ahead of the board and management strategic review of the company activities

• Sell the Company’s non-core LiFsi patent portfolio; and

• Focus on delivering the two major contract opportunities with Blitz & Roadix.

As a result, the main actions undertaken in previous month include:

• R&D activities based in Israel have been put on hold allowing substantial reduction cash burn rate;

• UTR have announced a capital raising of AU$550K, including pending EGM approval a personal investment of $50K by the CEO, Kobi Ben-Shabat, as per ASX announcement on 2 May 2019;

• The Company has entered into an agreement to sell the LiFsi patents that were acquired from Coorstek for US$700,000 as announced to ASX on 2 May 2019. The IP sale will allow the Company to reduce cost in maintaining remaining patents as well as increasing its cash position significantly;

• R&D activities in relation to the JDA with Chemours have ceased with the agreement to cease effect by the end of this month; and

• The Company will focus its resources on the delivery of sales opportunities with Roadix & Blitz and seek to generate additional battery sales revenue streams.

There has been positive progress with the testing of our batteries by Blitz, however, there have been delays in purchase order confirmation due to some technical issues unrelated to our products. We believe that a final decision by Blitz in relation to purchase of batteries will be made in the next 2-3 months.

ENDS