E25 signs Offtake and Project Financing Agreement with Global Mobility Provider Stellantis

Element 25 Limited (E25 or the Company) (ASX:E25) is pleased to announce the signing of a binding agreement (Agreement) with Stellantis N.V. (Stellantis) to supply battery-grade high purity, manganese sulphate monohydrate (HPMSM) from E25’s proposed USA-based HPMSM processing facility (the Facility).

• Element 25 Ltd (E25) and Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) (Stellantis) sign definitive agreements for the supply of battery-grade high-purity manganese sulphate (HPMSM) for Stellantis’ EV battery requirements.
  
• E25 to supply HPMSM for a minimum of five years, with opportunities to extend.
• E25 to supply up to 10,000tpa HPMSM for five years with provisions to increase volumes.
• Stellantis to part-fund development of E25’s HPMSM processing facility with US$30M investment in two tranches.

Element 25 Managing Director Justin Brown commented: “Stellantis’ support for Element 25’s high purity battery-grade manganese sulphate project is a fantastic endorsement by one of the world’s largest automakers and supports our plans to become a globally significant long-term supplier of battery materials to meet growing global demand. We are fully aligned with Stellantis’ decarbonisation and electrification goals, which represent some of the most ambitious in the industry and E25 have a pathway to reach agreed net zero carbon emission goals under this deal.”

“This is an important step in the delivery of our first production module which will combine Element 25’s innovative processing flowsheet and the high quality, ethically sourced manganese concentrate from our 100%-owned Butcherbird Project in Western Australia to deliver sustainable, ethically sourced battery grade manganese to the electric vehicle industry.”

Performance of the parties under the binding term sheet is conditioned on satisfactory completion of technical due diligence and a feasibility study.

About Stellantis

Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) is one of the world’s leading automakers and a mobility provider. Its storied and iconic brands embody the passion of their visionary founders and today’s customers in their innovative products and services, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Powered by our diversity, we lead the way the world moves – aspiring to become the greatest sustainable mobility tech company, not the biggest, while creating added value for all stakeholders as well as the communities in which it operates. For more information, visit www.stellantis.com.

About Element 25

Element 25 is an ASX listed company (ASX: E25) operating the world class 100%-owned Butcherbird Manganese Project in Western Australia and developing high purity manganese sulphate monohydrate (HPMSM) products for traditional and new energy markets. It aims to become an industry leading, world class, low-carbon battery materials manufacturer.

Company information, ASX announcements, investor presentations, corporate videos, and other investor material in the Company’s projects can be viewed at: www.element25.com.au.

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