Primobius Receives German Operating Permit

HIGHLIGHTS

-          Neometals recycling JV, Primobius, secures commercial lithium battery recycling permit “BlmSchG”;

-          Federal operating permit enables commencement of commercial operations in Hilchenbach, Germany;

-          Cornerstone battery feedstock comprised of batteries from electric vehicles; and

-          First black mass product delivery to German off-taker expected next week.

Innovative project development company, Neometals Ltd (ASX: NMT) (“Neometals” or “the Company”), is pleased to announce that Primobius GmbH (“Primobius”), the incorporated joint venture (“JV”) company owned 50:50 by Neometals and SMS group GmbH (“SMS”), has received its ‘BlmSchG’ operating permit for its 10tpd commercial lithium-ion battery (“LIB”) recycling facility (“10tpd Shredding Plant”) in Hilchenbach, Germany. Primobius is receiving and storing EV battery modules from its disposal service customer ahead of the commencement of commercial operations in mid-May.

The BImSchG (Federal Immission Control Act) applies to construction and operation of ‘installations’ to ensure prevention and reduction of any harmful environmental effects caused by emissions to air, water and soil. In addition to securing the permit, Primobius is delivering its first intermediate active material (“Black Mass”) product produced during the demonstration trials to a German metal recycler next week. Primobius plans to deliver a number of bulk samples from commercial operations to multiple parties for evaluation of larger, longer term offtake arrangements.  Black Mass sales will precede planned hydrometallurgical refining until such time as the facilities have been constructed and commissioned by Primobius and potential partners.

The 10tpd Shredding Plant will generate near-term revenue as well as prove the efficacy and operability of the shredding circuit at a 1:5 scale of the larger commercial plants. 50tpd recycling operations are presently the subject of engineering cost studies, scheduled for completion by 30 June 2022.

Authorised on behalf of Neometals by Christopher Reed, Managing Director

ENDS

For further information, please contact:

Chris Reed

Managing Director

Neometals Ltd

T: +61 8 9322 1182

E: [email protected]

Jeremy Mcmanus

General Manager - Commercial and IR

Neometals Ltd

T: +61 8 9322 1182

E: [email protected]