May 12 2021

RANGE INTERNATIONAL LIMITED (ASX:RAN) ANNUAL GENERAL MEETING

Since 2016 Re>Pal has recycled more than 20,000 tonnes plastic waste!

Equal to over 2 billion plastic bags.

CEO's ADDRESS

THE "PLASTIC ISSUE" GROWS – A PRESSING ISSUE FOR PLASTIC PRODUCERS

Pallets – A growth industry, with plastics contributing to growth

Global pallet market continues to grow with the plastic pallets category and Asia-Pacific region is expected to record the largest growth rates, as plastic becomes more commonly adopted in supply chains and logistics.

Note 1: Imarc Report: Global Pallet Market Note 2: As of 2019 based on paper published by Fortune Business Insights Note 3: As of June 2020 from the study "Global Pallets" published by the Freedonia Group Note 4: SEC fillings: For the fiscal year ending May 31, 2019 Note #: All $ figures represented in this Information Memorandum are $USD, unless otherwise stated

• Pallets continue to be an integral part in the supply chain of goods, as consumer expenditure on housing and infrastructural activities increases, rapid urbanisation and industrialisation continues.

86.5% of the pallets sales are still wooden pallets2

Wood pallets continue to be the dominant pallet type making up 86.5% of pallets new pallets2 .
Low upfront cost is a key driver for customer preference.
Wood, however has well recognised negative environmental implications and structural flaws.

Pallet industry to reach $88.69 billion by 20262

Compounded Annual Growth Rate ("CAGR") of 5.1% forecasted globally from 2019 to 20262 .
Growth in the pallet industry is driven by:
- increasing urbanisation in Asia; and
- adoption of material handling equipment in various industries.
The adoption of plastic pallets is also a major factor contributing to the increasing global pallet sales worldwide 2 .

Plastic pallets are the highest forecast growth category within the pallet industry

The plastic pallet sub-segment is forecasted to hold the largest CAGR between 2019-20262 , supported by significant advancements in the standard of operations for goods transportation2 .
Plastic is becoming particularly important in the food and beverage and pharmaceutical industries because of its resistance to insects, fungi, and other types of biological infestation2 .

APAC to account for 40% of the industry by 20243

• The Asia Pacific region overtook North America to become the world's largest regional pallet market in 2019, and is expected to account for 40% of global pallet output in 20243 .

Market for recycled plastic pallets on the rise

• Some indicators include firms such as Greystone Logistics in North America which deal in recycled pallets exclusively that have experienced rapid growth with major retailers such as Walmart and Costco adopting their pallets, leading to sales revenue CAGR of 33.2% since 20174 .

Asia Pacific – The fastest growing pallet market (by region)

Asia Pacific, which represented circa 25% of the global pallet market in 2018, is expected to increase its share to 40% of the total market in 2024 to support increasing industrialisation and rapid e-commerce adoption.

• Asia pacific region is however anticipated to grow the fastest in the next five (5) years.

Key pallet players in the region include:

Loscam
CHEP

• Schoeller Allibert

DIC Corporation
LHT Holdings Ltd (GPac)

Rising demand for pallets int the region

Regional growth will be fuelled by the need to expand pallet stocks in industrialising countries as their manufacturing sectors expand and their logistics networks modernise.
Rising e-commerce will further boost the need for pallets in storage and distribution.
As Asian countries continue to become mass consumers and producers, pallets will become more extensively used for export and imports.

India and China continue to build on sizable demand levels for pallets.
Other countries of note include Indonesia and few other South East Asian countries.

Pallet Industry Growth Rates by Region for 2019-24

Yana Surya
Safeway

• Mah Sing

Changing Market - Slow but imminent shift towards plastics pallets

Wooden pallets have continued to capture 86.5%¹ of new pallets, but there is an increasing shift towards plastic pallets given the inherent and common flaws in wooden pallets.

Issue	Wood	Virgin Plastic
Upfront Cost		
Infestation Risk		
Product safety -Integrity/losses		
Lost time injury (LTI's)		
Maintenance		
Lifetime value		
Carbon intensity		
Carbon price		
Zero Waste		
Positive sustainability message		

Illustrated from: Fortune Business Insights Report, 2019

Wooden Pallets less appealing, especially for exports and food manufacturing clients

• Once in circulation wood pallets are not often cleaned and can be unhygienic or a source of contamination as they are hard to sanitize with its surface permeable to moisture, pests and chemicals2 . This is a major issue for export one way pallets and food manufacturing sector.

Higher demand for plastic pallets from consumers

The lower upfront cost of wooden pallet pooling has historically slowed the take up of plastic pallets in supply chains.
Users of pallets now demand higher quality plastic pallets given they are more hygienic, pose less risk to product damage.
When transporting wooden pallets across borders the pallets are required to undergo fumigation and heat treatment. This increases the risk of contamination of the products, another reason why the Food Manufacturing sector is shifting to plastic.

Sustainable alternatives becoming cost competitive

Whilst the traditional wood pallets are cheaper upfront, the cost differential between wood and plastic is closing gradually. For example a wood export pallet can cost $5 - $10 and a recycled plastic alternative costs $12 - $14.
A recycled plastic pallet can lasts longer and provide better lifetime value.

GLOBAL PALLET PRICING SHOWING STRONG UPTREND

ABOUT RANGE/RE>PAL AND VALUE PROPOSITION

Range Overview

Range International (ASX:RAN) is an Australian ASX listed company deploying its wholly owned ThermoFusion™ technology to produce its Re>Pal™ plastic pallets made 100% from recycled plastic waste.

ThermoFusion™ – wholly owned, proven, proprietary technology used to create recycled plastic pallets

Founded in 2002 has since set up operations in South East Asia

Indonesia production facility has 10 production lines with capacity for an additional 6 more to be installed

recycled plastic waste Re>Pal™ plastic pallets made from 100%

of plastic waste In 2019, Range recycled 5,930,847 kg

81 staff: 51 permanent + 30 contract/daily hire

79 in Indonesia, 1 in Sydney & 1 in Philippines

20kgof recycled plastic waste used per Re>Pal™ pallet produced

Why Range?

Range provides investors with established infrastructure and the opportunity to participate in a sustainability growth segment; with timber pallets shifting to Re>Pal pallets as evidenced by MNCs using Re>Pal pallets to adopt a circular economy model.

Proven and Unique IP

A unique mixed waste IP which recycles a wide range of plastics, including customer's waste to produce 100% recycled Re>Pal Pallets

Positioned for Industry Tailwinds

Proven & Existing and Developed Infrastructure

Well positioned to service large corporates now migrating to circular economy model, including recycling their own waste

Unique IP Capitalise on the factory infrastructure, know how, relationships and an opportunity that is close to profitability

Strong Pipeline of Blue-Chip Clients

Already embedded in long sales pipelines (12-24 months) of prospective and existing large blue-chip clients transitioning to Re>Pal

Restructured Business under New Management

Range is seeing improvements in its business model: Sales increasing, margins improving, price trends in the right direction New local & ex-pat management in the factory

GENERAL BUSINESS UPDATE

ThermofusionTM - Our unique waste recycling technology

Range's ThermoFusion™ technology allows Range to make plastic pallets from 100% recycled mixed waste plastic at a price that is increasingly competitive with wood pallets.

Allows plastic pallets to be made from 100% recycled mixed waste at a price that is competitive with wood

Using the ThermoFusion™ process and sourcing of inexpensive plastic waste reduces cost of raw materials.
The technology removes the need for certain steps when sorting plastic waste into different polymer grades and contaminates resulting in lower labour costs.

Facilitates a Circular Economy

Contributes to the circular economy by recycling plastic waste rather adding to them landfill
Use of recycled Re>Pal pallets sends a positive message about companies' adoption of less linear supply chains.

Re>Pal has removed more plastic waste from the environment every year

• Each Re>Pal pallet removes ~23kg of plastic waste from the environment, with approx. 20.000 tonnes of landfill plastic recycled until April 2021 (includes waste materials).

SALES SUCCESS WITH MORE BLUE-CHIP CUSTOMERS SELECTING RE>PAL

Re>Pal pallets demonstrate the ability to meet the economic and performance standards that clients require whilst helping companies to achieve sustainability objectives and move towards a circular economy.

Mondelez using new EasyPay rental structure over 5 year agreement starting from May 2021 to rent 3,000 of Re>Pal's HD1210 pallet. " "

Mondelez Philippines

" Unilever Oleo Chemicals – to be signed in May 2021 – we will update the market accordingly.

Unilever still testing with the RP1210L. Results expected also in May 2021.

Large MNC Philippines

Unilever OleoChemicals (UOI) intends to enter a Re>Pal's NP1090 pallet binding Letter of Intent (LOI) for 2+1 years for minimum 24,000 pallets per annum. This includes Take>Back for waste plastic pallets and credit which helps return leg costs. "

MNC Philippines is in the process of executing a contract for EasyPay, having locked in its first PO for 900 HD1201 pallets. They committed to EasyPay rental contract for 5 years for 8000 HD1210 pallets from May 2021 " "

Range now has 3 salespeople in the large Jakarta market, 2 other salespeople in Indonesia and 1 in Philippines Range has strengthened reseller channel and has 2 sales operations staff supporting direct and indirect sales

RANGE HAS STRENGTHENED SALES AND RESELLER CHANNELS

DIRECT SALES

Covid-19 affected pipeline in 2020
Seeing sales pipeline strengthen in Q1 2021
Philippines sales continues successfully with Nestle direct sales and;

• Philippines' Mondelez and MNC both starting EasyPay 5 year rental contracts

Note: CY2020YTD = Jan 20 – May 20

RESELLER SUCCESS

• We have appointed PT Jordan Trading & Consulting a Surabaya based business as an exclusive Government distributor across all sectors of Government.

New agreement in Jakarta to Government.
contracts
We will update the market as appropriate

• Extensive Indonesia Government contacts bringing the possibility of long-term

PALLET PRICING INCREASING IN 2021; SALES GROWTH & MARGIN FOCUS

2020 vs 2019 vs 2018 -Covid significantly impacted Re>Pal in 2020				Consolidated Statement of Profit and Loss
-Quarter 1 2021 shows sales and revenue improvement with price uptick				FY 2019	FY 2020	Q1 2020
however difficulties remain with increased travel restrictions in place. Limitedaccess allowed to customers facilities.			$'000	$'000	$'000
		Revenue	1,655	1,422	579
Pallet inflation -			Rising lumber and pallet prices give Range price improvement
opportunity			Other income	60	86	4
				Expenses
Range has improved its revenue per unitNext price increase of 10% happening June 1st 2021 post-Ramadan-			Employee benefits	(979)	(763)	(140)
			Depreciation & amortisation	(471)	(120)	(30)
			Cost of sales	(3,056)	(2,634)	(897)
			Sales and marketing expense	(256)	(151)	(43)
			Professional fees	(600)	(322)	(74)
				Impairment expense	(5,409)	(211)
	Q1 2019	Q1 2020	Q1 2021		Other expenses	(168)	(277)	(53)
					Foreign exchange (loss)/gain	17	(17)	11
REVENUE USD	460,528	286,765	578,553
AVG PRICE USD	12,08	13,08	15,21		Loss before income tax expense	(9,207)	(2,987)	(643)

OPERATIONAL IMPROVEMENTS 2020 – A RECAP

• Built additional water sediment tank for screening plastic particles

• Waste sands are now classed a non-hazardous so they may be

before they go to WWTP in Pasuruan Industrial Estate.
- Lowering costs.
removed from site at no cost to the business.
- Lowering costs
our suction blowers.
- This will help improve gross profit in through 2021
  - as volume throughput increases
Additional support for swim-sink tank pedal
- Reducing downtime in shredder wash tank.

• To reduce downtime and electric motor damage we modified the

CAREFUL CAPEX SPEND FOLLOWING CAPITAL RAISE

• Welding table enables us to quickly and securely thermally bond our two piece

pallets.
- Adding strength to our product and improving output.
- Allows us to modify our designs to easily add steel inserts.
- Increases flexibility to offer pallets to a wider customer base from the same mold.
- Investment AUD $ 46.5K
Two Friction washers are under order to replace our ageing centrifugal washers.
- Each washer doubles the capacity of our current equipment with lower electrical consumption.
- Investment AUD $11K each.
Planned new extrusion equipment to replace thermal dryers and pelletising mill.
- Accepts higher moisture content, produces superior material vs. our current system.
- Significant reduction in energy costs. Under review with testing early June before order.
- Investment AUD $35K.

NEW HDX SERIES OF ADJUSTABLE INSERT PALLETS

• HD-X Single mold with adjustable inserts

• Make pallets from 1100x1000 to 1300x1300mm in a single mold

• Design optimized to allow for hollow steel inserts to meet customer load

• Improved change-over time on the production line

Including the Chemical Pallet (1311)
Up to 30% weight saving on our current range of pallets
- Improves margin
requirements.
- Improves utlisation
- Improving cash flow.
Designed completing early June 2021.
First sizes available end of Q4 2021

• Multiple molds of this type we will enable us to deliver larger orders faster.

• The HDX will dramatically increase the gross profit margin.

OTHER OPERATIONAL IMPROVEMENTS PLANNED IN 2021

• Manufacture in-house shredder knives to enable regular maintenance change overs

• Additional staff have been added to the conveyor lines to increase screening and

• Installation of a Trommel in Q3 will drastically limit the potential damage to the

and scheduled replacement of worn shredder screens
- Reduces spare parts costs & improves uptime
Improvement on shredder knife changes over
- Takes 1 shift instead of 2 shifts & improves margins
Modification to compactor to reduce material blockages.
- Improving uptime
sorting of foreign materials
- Increases opex slightly but reduces downtime
shredders & Overall improved maintenance regime
- Improves uptime
program is commissioned.
- This should see output rise by 30%

• Building production output to over 96 tonnes per week up by 65 tonnes per week, this will deliver an average 1,350 pallets per week in additional output. • We should see improvements in uptime and output negating the increased operational costs by week two of June 2021 once shredder knives and screens are installed. • Increased wash line output are targeted for Q3 2021 as plant from the CAPEX

Have signed long term supply contract with PT Aalborg Industrie Indonesia a Jakarta based business.
- Expected cost savings of dry plastic waste: ~AUD $ 0.25/kg.
Aalborg has a waste management contract with the Jakarta Government.
- Giving them access to large volumes of plastic.
- They will supply clean, dried and compacted material.
- This material can be directly fed into our extrusion equipment.
- Bypassing the need to process in our washing lines.
- Saving on electricity and labour.
- First shipment scheduled for end of June 2021
Significant opportunities exist to expand our recycling volume with Aalborg as needed.

PT AALBORG INDUSTRIE INDONESIA

• Re>Pal has applied to www.verra.org to register its plastic credits • Verra.org founding members include Danone, Nestle, Veolia • Verra aims to reduce plastic waste by establishing a market price for trading plastic credits (think similar to carbon credits).

• Re>Pal application may take another 3 months to know if we are

• Projects can be registered for credits going back to 2016; coincidentally the date the commencement of production from the

successful in our application
factory in Pasuruan
registration of any projects

• We will update the market if we are successful in our application and

RE>PAL APPLIES FOR VERRA PLASTIC CREDITS

Uniquely Sustainable

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This presentation contains summary information about Range International Limited (RAN) and its subsidiaries and their activities. The information in this presentation does not purport to be complete. It should be read in conjunction with RAN's other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange, which are available at www.asx.com.au.

The information contained in this presentation is not investment or financial product advice and has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person. Before making an investment decision, investors should consider the appropriateness of the information having regard to their own investment objectives, financial situation and needs and seek independent professional advice appropriate to their jurisdiction and circumstances.

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An investment in RAN securities is subject to investment and other known and unknown risks, some of which are beyond the control of RAN or its directors. RAN does not guarantee any particular rate of return or the performance of RAN securities.

Past performance information given in this presentation is given for illustrative purposes only and should not be relied upon as (and is not) an indication of future performance. This presentation contains certain forward-looking statements with respect to the financial condition, results of operations and business of RAN and associated entities of RAN and certain plans and objectives of the management of RAN.

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All figures in this presentation are US$ unless stated otherwise and all market shares are estimates only. A number of figures, amounts, percentages, estimates,