SPARC TECHNOLOGIES LIMITED — Board/Management Information 2023

Mar 29, 2023

First Commercial Production of Graphene Additive Product ecosparc®

HIGHLIGHTS

• ecosparc® graphene additive production facility now fully commissioned
• First commercial product ecosparc® available for coatings and composite materials
• Multiple coating companies undertaking product evaluation of ecosparc®
• Resignation of Managing Director Mike Bartels

Sparc Technologies Limited (ASX:SPN) (Sparc or the Company) is pleased to advise the commissioning of Sparc's ecosparc® commercial production facility. The state of the art facility enables Sparc to now produce commercial quantities of the graphene additive product, ecosparc®. Target markets for ecosparc® include the global coatings industry, composites and other graphene additive applications.

The ecosparc® production facility will enable Sparc to provide commercial quantities of graphene additive product for trials with global coatings companies. The Company is currently undertaking evaluations with potential global end users with results from these evaluations expected in Q3 and Q4 CY23 respectively. In parallel, the company is pursuing opportunities to target Australian coatings companies that are looking to enhance the anti-corrosive and environmental performance of their products, with the addition of ecosparc®.

ecosparc® can also be incorporated into composites and other bulk materials to improve environmental outcomes. Sparc is also engaged with product trials for global and domestic companies in these markets.

Figure 1: First production run of ecosparc® 1001 – Heavy Duty Industrial Coating

Stemming from these significant milestones being met by Sparc, Managing Director, Mr. Mike Bartels has announced his resignation effective immediately. Dr. Denis Wright has been appointed General Manager, Graphene and Mr. Nick O'Loughlin has been appointed General Manager, Renewable Energy. Both positions will report directly to Executive Chairman, Mr. Stephen Hunt. Sparc personnel based internationally, Mr. Ian Rowell in the USA and Aidan Mernin in the UK, remain key figures with managing relationships with global coatings and composites companies in the USA and Europe, respectively.

Dr. Denis Wright – General Manager – Graphene

Denis has a PhD in Organic Chemistry with over 20 years' experience in technical based leadership and management roles. Throughout his career, he has been involved with both local and global coatings companies with functional materials such as anticorrosive and chemical resistant coatings for industrial use. Denis has held senior regional management roles in the protective and marine coatings field within Wattyl/Sherwin Williams, in Australia. Denis is a member of the Association for Materials Protection and Performance (AMPP – formerly NACE). Denis joined Sparc in April 2022.

Nick O'Loughlin - General Manager - Renewable Energy

Nick has 12 years of experience in investment banking and corporate finance in Australia and London. Nick was an Associate Director (Vice President) at Rothschild & Co in London from 2017 to 2020, where he advised on several landmark transactions in the resources sector. Prior to that, he was in Standard Chartered Bank's Mining & Metals team. Since finishing at Rothschild & Co, Nick has held consulting roles with Rio Tinto on renewable energy projects and he is the current Chief Development Officer for NYSE listed, Battery Future Acquisition Corp. Nick has been working for Sparc Technologies since January 2022.

Sparc Technologies Executive Chairman, Stephen Hunt commented:

"Sparc is delighted to be in the strong position whereby it is now able to produce ecosparc® product in commercial grades and quantities, which enables us to provide product for global coatings and composites companies, as well as for the domestic market. This is very significant as it is an important step on the path to commercialisation.

Over the last two years, Mike Bartels has played a pivotal role in developing and implementing the company's strategy. The Board thanks Mike for his significant contribution and wishes him well in his future endeavours."

-ENDS-

Authorised for release by: Stephen Hunt, Executive Chairman.

For more information:

Stephen Hunt Executive Chairman +61 402 956 205 Stephen.hunt@sparctechnologies.com.au Mark Flynn Investor Relations +61 416 068 733 mark.flynn@sparctechnologies.com.au

About Sparc Technologies

Sparc Technologies Limited (ASX: SPN) is an Australian company pioneering new technologies to disrupt and transform industry while seeking to deliver a more sustainable world. Sparc Technologies has established offices in Europe and North America.

Graphene, a major focus for Sparc Technologies and now being produced at a dedicated commercial production facility, is a 2-dimensional material made of carbon atoms arranged in a hexagonal lattice which creates unique and powerful properties that can be imparted on products to improve performance. Sparc Technologies is commercialising graphene in a number of applications including Graphene Based Additives for the Protective and Marine Coatings market along with applications in the renewable energy and construction materials sectors.

Sparc Technologies, via its majority interest in Sparc Hydrogen, is also focussed on developing photocatalytic green hydrogen technology that does not require solar and/or wind farms, nor electrolysers as with conventional green hydrogen processes.