SPARC TECHNOLOGIES LIMITED — Capital/Financing Update 2025

Feb 6, 2025

7 February 2025

eco Sparc to Trial sparc[®] Coating with BHP Mitsubishi Alliance at Goonyella Riverside Mine

HIGHLIGHTS

• Sparc and BHP Mitsubishi Alliance (BMA), have signed a trial agreement

• An ecosparc[®] enhanced anti-corrosive coating will be tested in coal handling and processing plant infrastructure at Goonyella Riverside Mine in Queensland

• This is Sparc’s fourth trial agreement, demonstrating Sparc’s strategy of trialling ecosparc[® ] with leading asset owners across government, defence, mining and oil & gas in relevant real-world environments

• The trial will provide performance insights by comparing the ecosparc[®] enhanced coating with a market-leading anti-corrosive coating under highly corrosive conditions

Sparc Technologies Limited ( ASX: SPN ) ( Sparc, Sparc Technologies or the Company ) is pleased to announce the execution of an agreement ( Trial Agreement ) with BHP Mitsubishi Alliance ( BMA ). The Trial Agreement details the terms and conditions under which Sparc and BMA will conduct a collaborative field trial involving testing of an ecosparc[®] enhanced coating in coal handling and processing plant ( CHPP ) infrastructure at the Goonyella Riverside Mine ( GRM ) in Queensland.

Sparc Managing Director, Mr. Nick O’Loughlin commented:

“Sparc is very pleased to be working with BHP Mitsubishi Alliance, Australia’s largest producer and supplier of seaborne metallurgical coal, to complete field trials of ecosparc[®] enhanced coating in its coal handling facilities. The conditions within the CHPP offers an ideal setting to benchmark the ecosparc[® ] enhanced coating against an existing market-leading product. We thank BMA for the innovative approach they have shown by supporting this field trial.”

The Trial Agreement with BMA represents a continuation of Sparc’s strategy of working with asset owners across government, defence, mining and oil & gas to demonstrate the performance of ecosparc[®] enhanced coatings in relevant real-world environments. The temperature, moisture and conditions within the CHPP at GRM, located in Moranbah, Queensland are well suited for an effective field trial. The field trial will provide valuable performance data for potential customers, building on over 6 years of research and development and >10,000 data points from accelerated cyclic corrosion testing in the laboratory. Importantly, this agreement underscores growing market interest from key industry players for superior anti-corrosive coatings.

As per the previously announced field trials with the South Australian Department of Infrastructure and Transport, 29Metals and Santos, the trial at GRM will compare the performance of an ecosparc[®] enhanced coating with a market leading anti-corrosive paint. Sparc’s key obligations, as outlined in the Trial Agreement, are to supply the agreed quantities of ecosparc[®] enhanced and unmodified control coatings to BMA at Sparc’s cost, along with specified application instructions. BMA’s obligations include to prepare the agreed steel infrastructure and to arrange for application of the ecosparc[®] enhanced and control coatings at its own cost. The trial will be monitored over 24 months, with initial results expected within 6-12 months.

While the financial impact of the Trial Agreement is negligible, the Trial Agreement is strategically important as it represents another key milestone in validating Sparc’s graphene based additive product on critical infrastructure in relevant real-world environments.

About ecosparc[®] - A performance additive for Protective Coatings

Sparc Technologies has conducted over 6 years of research and development on ecosparc[®] , its flagship graphene based additive product. The addition of very small quantities of ecosparc[® ] to conventional protective coatings, has demonstrated >40% anti-corrosion improvement in commercially available epoxybased coatings, ensuring the reliability, longevity, safety and cost-effectiveness of the steel infrastructure they cover.

In 2023, the Company commissioned its ecosparc[®] commercial production facility. The facility enables Sparc to provide commercial quantities of graphene based additive product for the coatings industry and to support field trials. Multiple global coatings companies continue to undertake product evaluation of ecosparc[®] in their anti-corrosive coatings. Further to this, Sparc is progressing a campaign targeting asset owners with a view to conducting field trials utilising ecosparc[®] enhanced coatings on key steel infrastructure such as frames, tanks and structures in a variety of corrosive environments. Infrastructure owners being targeted include government, defence, mining, and oil and gas companies.

==> picture [170 x 170] intentionally omitted <==

-ENDS-

Authorised for release by: Nick O’Loughlin, Managing Director.

For more information:

For more information:
Nick O’Loughlin	Aiden Bradley
Managing Director	Investor Relations
info@sparctechnologies.com.au	aiden@nwrcommunications.com.au
	+61 414 348 666

About Sparc Technologies

==> picture [317 x 193] intentionally omitted <==

Sparc Technologies Limited (‘Sparc’, ASX: SPN) is an Australian technology company developing solutions that enhance environmental and sustainability outcomes for global industries. Sparc has two transformative technology areas in which it works: green hydrogen and graphene enhanced materials. Sparc conducts research and development in-house and has extensive engagement and relationships with the university sector in Australia and globally.

1. Sparc Hydrogen is a joint venture between Sparc Technologies, Fortescue Limited and the University of Adelaide which is pioneering next-generation green hydrogen production technology. Photocatalytic water splitting (PWS) is an emerging method to produce green hydrogen without electrolysers - using only sunlight, water and a photocatalyst. Given lower infrastructure requirements and energy use, PWS has the potential to deliver cost and flexibility advantages over existing hydrogen production methods.

2. Sparc has developed and is commercialising a graphene based additive product, ecosparc[®] , which at low dosages significantly improves the performance of commercially available epoxy-based protective coatings. Sparc has commissioned a manufacturing facility to produce ecosparc[®] and is engaging with global coatings companies and large asset owners on testing, trials and commercial partnerships.

For more information about the company please visit: sparctechnologies.com.au

For more information about Sparc Hydrogen please visit: sparchydrogen.com

For more information about ecosparc[®] please visit: ecosparc.com.au