GREEN360 TECHNOLOGIES LIMITED — Capital/Financing Update 2022

Nov 24, 2022

ASX ANNOUNCEMENT

25 NOVEMBER 2022

DINGO GREEN HPA TECHNOLOGY ACQUISITION COMPLETED

HIGHLIGHTS

• Settlement completed with Suvo acquiring a 26 per cent share in Dingo HPA Pty Ltd (“Dingo”) through a private placement

• Dingo developing technology that aims to produce high purity alumina (“HPA”) from recycled aluminium feedstock

• Transaction provides Suvo with the opportunity to develop a novel, green HPA process, offering significant environmental benefits through closed loop recycling

• HPA is a high-value (US$28,000 – US$40,000 per tonne), high margin and high demand critical mineral used in the production of lithium-ion batteries, portable electronics, electric vehicles and LED lights

• Global HPA market projected to reach US$4.8 billion by 2026 amid rising demand[1]

Suvo Strategic Minerals Limited (ASX: SUV) (“Suvo” or “the Company”) is pleased to announce it has completed the acquisition of its 26 per cent interest in Dingo, an Australian proprietary company aiming to produce high purity alumina (“HPA”) from recycled feedstock, through a private placement (“placement”).

Suvo has acquired 220,000 fully paid ordinary shares in Dingo, at an issue price of $1.00 per share ($220,000).

Dingo’s IP is currently at the concept study level and funds raised will assist Dingo in the advancement of a scoping study, in addition to providing working capital.

1 Allied Market Research

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The scoping study has been designed to assess the techno-economic viability of Dingo’s proposed flowsheet to produce HPA and validate the feasibility of a near-term project.

Consistent with the terms outlined in the ASX announcement dated 29 September 2022, Suvo has a clear pathway to acquire up to 76% of the issued capital of Dingo, subject to various milestones being met.

At the end of the stage three earn-in agreement, Suvo will have an exclusive period to negotiate a share purchase acquisition of the remaining shares on issue in Dingo, subject to the Listing Rules and any further regulatory approvals.

Suvo has appointed one representative to the Dingo Board as a Director.

Executive Chairman Henk Ludik commented:

“Australia’s Federal Government recently added HPA to the critical minerals list as part of the 2022 Critical Minerals Strategy, citing broad-ranging economic and strategic importance.

The global demand for HPA in powder form is expected to grow to 187,000 tonnes per annum by 2028, this growth is likely to be stemmed by supply limitations leading to a potential spike in prices as supply struggles to keep up with demand.

With the settlement now complete, Dingo is primed to advance the technologies scoping study, stepping closer to developing the novel HPA production process.

The bespoke IP and structured pathway to increase Suvo’s interest offers a potential pathway for the Company to take advantage of rising demand and market opportunity.

We look forward to providing shareholders additional updates on this unique opportunity in due course.”

-ENDS-

Approved for release by the Board of Directors

For further information, please contact

Investor enquiries Media enquiries Henk Ludik Josh Lewis Executive Chairman Spoke Corporate P. +61 8 9389 4495 M. +61 412 577 266 E: henk.ludik@suvo.com.au E: lewisj@spokecorporate.com

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APPENDIX 1 - Key terms

Table 1: Ownership structure

	Price Shares Ownership Terms

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Price Shares Ownership Terms Stage 3 option - 1,000,634 76% Subject to the satisfaction (or waiver) of the Stage 2 Condition, both Suvo and the Dingo shareholders other than Suvo (Non-Suvo Shareholders) have the option(Stage 3 Option)to:  require Suvo (or its nominee) to subscribe for 1,000,634 shares; and  require Suvo to seek shareholder approval to issue the Non-Suvo Shareholders (or its nominee(s)) such number of Suvo Shares determined by dividing $3,000,000 by the 20-day volume weighted average price of the Suvo Shares immediately prior to the exercise of the Stage 3 Option. In the event Suvo does not obtain the shareholder approval to issue the Suvo Shares, Suvo must pay cash in the amount of $3,000,000 Non-Suvo-Shareholders in consideration for the Suvo Shares. The Stage 3 Option is conditional upon:  Suvo exercising the Stage 2 Option; and  Dingo achieving test results from the Pilot Plant of 4N+ (i.e. 99.99% or greater purity) HPA on or before 15 December 2024 (or such later date as mutually agreed between the parties) Exclusivity Period for acquisition - 624,510 100% Upon the satisfaction of the Exclusivity Condition:  Dingo grants Suvo an exclusive period of 6 months commencing on the date the exclusivity condition is satisfied(Exclusivity Period)to negotiate the sale and purchase of all outstanding Shares (including any other securities that may be on issue from time to time) held by the Non-Suvo Shareholders (Outstanding Shares); and  the parties agree to negotiate in good faith (and Dingo agrees to procure that the Non- Suvo Shareholders negotiate) the proposed terms by which Suvo acquires the Outstanding Shares The Exclusivity Period is conditional upon Suvo exercising the Stage 1 Option and Stage 2 Option or before 31 January 2025 (or such later date as mutually agreed between the parties)(Exclusivity Condition)

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Other terms

1. Subject to Settlement, it is agreed that Suvo will be entitled to appoint one (1) representative to the Board as a director. Upon the submission of the Stage 1 Notice (exercise of Stage 1 Option), Suvo will be entitled to appoint one (1) additional representative to the Board as a director in addition to the Board Nominee.

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Company Profile

Suvo Strategic Minerals Limited is an Australian hydrous kaolin producer and exploration company listed on the Australian Securities Exchange (ASX:SUV). Suvo is focused on production at, and expansion of, their 100% owned Pittong hydrous kaolin operation located 40km west of Ballarat in Victoria. Suvo’s exploration focus is on near-term kaolin and high purity silica assets with 100% owned Gabbin (kaolin), Eneabba and Muchea (silica sands) projects located in Western Australia.

Pittong Operations

The 100% owned Pittong Operations, located in Victoria 40km west of Ballarat, is the sole wet kaolin mine and processing plant in Australia and has been in operation since 1972. Pittong comprises the Pittong, Trawalla and Lal Lal deposits located on approved Mining Licences MIN5408, MIN5365 and MIN5409 respectively.

At Pittong mining contractors deliver crude kaolin ore to stockpiles from the two currently operating mines, Pittong and Lal Lal. The plant takes its feedstock from the ROM and it is processed into four separate product forms for end users. These product forms are 10% moisture lump, high solids slurry, 1% moisture powder and 1% moisture pulverised powder. The solids slurry is used in paper and board manufacturing. The other products are used in paper, coatings, paint and specialist industries including rubber and pharmaceutical applications. Around 20-25kt per annum is supplied to various end users.

Gabbin Kaolin Project

The 100% owned Gabbin Kaolin Project (White Cloud) is located 215km northeast of Perth, Western Australia. The project area comprises four granted exploration licences (E70/5039, E70/5332, E70/5333, E70/5517) for 413km[2] , centred around the town and rail siding of Gabbin. The generally flat area is primarily cleared farming land devoid of native bushland and is currently used for broad-acre cereal cropping. A mining access agreement is in place over the current resource area with the landowner and occupier.

The main rock types at Gabbin are primarily Archaean granite, gneiss, and migmatite. These rocks are overlain and obscured by Tertiary sand and Quaternary sheetwash. The weathering profile is very deep and contains thick kaolin horizons capped by mottled clays or laterite zones. The current JORC 2012 Mineral Resources are 72.5Mt of bright white kaolinised granite with an ISO Brightness of 80.5%.

Eneabba Silica Sands Project

The 100% owned Eneabba Silica Sands Project is located 300km north of Perth, Western Australia. The project comprises four granted exploration licences (E70/5001, E70/5322, E70/5323, E70/5324) for 169km[2] . The project is located on the Eneabba Plain whose sandy cover is very flat to gently undulating. Outcrop is rare due to the accumulations of windblown and alluvial sand at surface. Below this is a thin hard silcrete or lateritic claypan which overlies deep white and yellow sands.

Forward-Looking Statements

This release may contain certain forward-looking statements with respect to matters including but not limited to the financial condition, results of operations and business of SUV and certain of the plans and objectives of SUV with respect to these items.

These forward-looking statements are not historical facts but rather are based on SUV’s current expectations, estimates and projections about the industry in which SUV operates and its beliefs and assumptions.

Words such as "anticipates," “considers,” "expects," "intends," "plans," "believes," "seeks," "estimates", "guidance" and similar expressions are intended to identify forward looking statements and should be considered an at-risk statement. Such statements are subject to certain risks and uncertainties, particularly those risks or uncertainties inherent in the industry in which SUV operates.

These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the control of SUV, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. Such risks include, but are not limited to resource risk, product price volatility, currency fluctuations, increased production costs and variances in product grade or recovery rates from those assumed in mining plans, as well as political and operational risks in the countries and states in

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which we sell our product to, and government regulation and judicial outcomes. For more detailed discussion of such risks and other factors, see the Company’s Annual Reports, as well as the Company’s other filings.

SUV cautions shareholders and prospective shareholders not to place undue reliance on these forward-looking statements, which reflect the view of SUV only as of the date of this release.

The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made.

SUV will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.

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