GREEN360 TECHNOLOGIES LIMITED — Capital/Financing Update 2023

Mar 13, 2023

ASX ANNOUNCEMENT

14 March 2023

FIRST BINDING PURCHASE ORDER RECEIVED FROM C&D

HIGHLIGHTS

• Commercial scale trials completed on initial product resulting in first binding purchase order

• Purchase order covers up to 800 tonnes (+/-10%) of hydrous kaolin to be supplied between March 2023 and December 2023 whilst the Company advances a multi-year contract

• Product earmarked for the premium paint sector and will attract a ~35% price premium compared to the weighted average selling price achieved in H2 CY2022

• Product under this purchase order is allocated to a single end user. C&D will now engage with further end users within the paint sector, in the Asia Pacific region

• Advanced stage commercial trials continue with multiple Pittong products

Suvo Strategic Minerals Limited (ASX: SUV) (“Suvo” or “the Company”) is pleased to announce that it has received its first binding purchase order from C&D Logistics Group Co Ltd (“C&D”).

The purchase order covers up to 800 tonnes (+/-10%) of hydrous kaolin to be supplied over the remainder of calendar year 2023 and is valued at ~A$0.66 million.

Importantly, the product supplied under this purchase order attracts a ~35% price premium compared to the weighted average selling price achieved in H2 CY2022, which is in line with a primary strategic focus of the Company, being the diversification of the Company’s product offering and a focus on premium end user markets in the Asia Pacific region.

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This first purchase order comes off the back of the 80 tonnes of Pittong product supplied to C&D in late November 2022 for use in commercial-scale trials and demonstrates the quality of product at Pittong, and the Company’s ability to turn product trials into binding purchase orders. The Company will continue to work with C&D over the coming months to place additional sales to customers in the Asia Pacific region.

The original cooperation agreement dated 25 May 2022 between Suvo and C&D set out terms for the Companies to focus on the development and growth of ‘other kaolin related product’ markets utilising Pittong Kaolin, with a view to developing long-term relationships with customers across a range of industries, products and locations.

C&D continue with both lab-scale testing and commercial trials on Pittong’s other products supplied throughout H2 CY2022. Pending the results of these commercialscale trials, Suvo anticipates receiving further purchase orders.

Interim Non-Executive Chairman Aaron Banks commented:

“We are pleased to have received our first commercial order from C&D, the minerals division of Xiamen C&D – a global fortune 500 company with annual revenue circa US$100 billion.

This purchase order from C&D follows the successful commercial-scale trials demonstrating not only the quality of product at Pittong, but also the Company’s ability to form solid partnerships with large players in the Asia Pacific region. Furthermore, this order supports Suvo’s commitment to sell new volumes from the upgraded operations into premium markets and validates the Company’s decision to upgrade the plant returning it to name-plate capacity.

We look forward to updating the market as the Company advances the numerous other commercial-scale trials with C&D and other customers.”

Approved for release by the Board

-ENDS-

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Annexure - Key Terms of Purchase Order

Term

The supply of hydrous Kaolin under the Purchase Order will be between 1 March 2023 and 31 December 2023

Quantity

800 tonnes (+/-10% allowed)

Payment terms

After receipt of product by the buyer, payment is required within 10 working days.

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For further information, please contact

Aaron Banks

Interim Non-Executive Chairman

E: aaron.banks@suvo.com.au

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.

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.

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.

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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 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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