SPRINTEX LIMITED — Capital/Financing Update 2022

Feb 21, 2022

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Sprintex Limited ABN: 38 106 337 599

ASX: SIX

ASX RELEASE

22 February 2022

Sprintex Progress Report

“ Enthusiastic engineering team realising milestone after milestone”

Updates:

• China factory open day in early March

• Release of new product portfolio including new industrial air compressor

• Nanjing RGE collaboration and supply program progressing

• Aeristech technical collaboration and supply program advances at its UK facilities with testing of prototypes

• JL Jeep supercharger system components manufactured at Malaysian facility

• Jeep supercharger products to be presented at major US events in April 2022

Sprintex Limited (ASX: SIX) ( Sprintex or the Company ) is pleased to provide a progress report on its current activities.

New factory open day releasing new product portfolio

Sprintex will host an open day for commencement of its second phase production expansion, incorporating release of a new product portfolio and live demonstrations of products for industry leaders, collaborators and invited government officials, in the first week of March 2022 at its air compressor facility in Suzhou China.

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Photo: Sprintex China preparing for its open day in early March

Unit 2 / 63 Furniss Road, Darch WA 6065 Phone: +61 8 9262 7277 Email: admin@sprintex.com.au URL: www.sprintex.com.au

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Innovative industrial air compressor sets new efficiency record

The Company will make its first public release of ground-breaking new architecture for a compact high-speed electric compressor range, offering exceptional efficiency. This is the first time in the industry a 100,000rpm high-speed electric motor has ever been used in a 30kW commercial air compressor (a class of high flow rate compressor). This breakthrough on motor speed enables Sprintex to select the mixed-flow design for the compressor. With less flow path restrictions at high flow rates, the mixed-flow compressor pushes the aerodynamic efficiency to a record high of 84% for an air compressor, 9% higher than the best radial type of air compressors with similar power level and available in the current market.

This innovative design makes the air compressors more compact, more reliable, and cheaper to produce for their rated flow. Sprintex also utilised advanced cooling methods to save another 3% power consumption over common air-cooling methodology, which typically wastes power into the discharged air. Sprintex believes this innovation offers the world’s best efficiency for industrial air compressors, yielding the potential for 12% of electricity saving over equivalent capacity, currently available radial type industrial air compressors.

Sprintex has filed for patent protection of the key design elements.

Nanjing RGE collaboration and supply program

Sprintex will also demonstrate the latest iteration of its industrial air compressor and blower systems (including the new architecture described above) for use in environmental and industrial applications, developed in collaboration with Nanjing RGE, a contracted customer of Sprintex Energy Technology (Suzhou) Co. Ltd.

The Company expects to also confirm the final specifications of equipment for supply to RGE, pursuant to the agreement between the parties announced on 25[th] October 2021.

Aeristech technical collaboration and supply program

Testing of first samples of the Sprintex Aeristech fuel cell air compressor range (see ASX announcement of 14 September 2021) is underway at Aeristech’s UK facilities, to validate Factory Acceptance Tests from its newly established test facility in the Suzhou R&D and production facility.

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Photo: First batch of samples received by Aeirstech Ltd

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JL Jeep Supercharger System

The Company’s supercharger division is in receipt of all 3[rd] party supply components for its Jeep JL and JT systems and has completed manufacture of the initial production batch of supercharger components at its Malaysian facility.

The systems will be assembled at the Company’s USA facility, in readiness for the USA summer sales season and scheduled presentations at major industry events, the Easter Jeep Safari in Moab Utah USA in early April 2022 and at Jeep Beach in Daytona Florida one week later.

The Company also confirm that despite recent raw material price increases, worldwide supply chain shortages and additional cost, it has been able to meet its cost expectation for this key product line, enabling gross profit margins to be maintained in accordance with the Company’s financial forecasts.

Jay Upton, Sprintex Managing Director said, “We are very pleased with the stellar progress made in the new e-Compressor division since its inception just 8 months ago. It’s refreshing to see our vibrant and enthusiastic engineering team realising milestone after milestone in their aggressive development program.

“Our new product range offers a step change in efficiency levels for industrial customers, and with the local government driving the need to reduce power consumption in industry, we are very well placed to service many industries with products that simply use less power.”

This ASX announcement was authorised for release by the Board of Sprintex Limited.

For further information

Sprintex Limited MMR Corporate Services Pty Ltd Jay Upton Level 5, 52 Phillip Street Managing Director Sydney, NSW 2000 Australia P: +61 8 9262 7277 P: +61 2 9251 7177 E: jay.upton@sprintex.com.au E: Sprintex@mmrcorporate.com W: https://invest.sprintex.com.au

About Sprintex

Sprintex is a clean air compressor engineering, research, product development and manufacturing company, incorporated in Australia in 2003. Sprintex designs and manufactures electric and mechanically driven clean air compressors for use in a wide variety of applications, including:

• combustion engines where Sprintex sells Sprintex® twin screw superchargers, and supercharger systems incorporating the Sprintex® twin screw supercharger, in the automotive aftermarket and original equipment manufacturer (OEM) market in Australia, Asia, Africa, the Middle East and the United States of America;

• hydrogen fuel cells, which require a constant flow of oxygen rich air; and

• industrial oil-free clean air applications, including wastewater treatment.

Forward Looking Statements

Statements regarding plans with respect to the Sprintex projects and products are forward looking statements. There can be no assurance that the Sprintex plans for its projects or products will proceed as expected and there can be no assurance of future sales.

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