Ann: Envirostream Australia Update, page-3

On 11 September 2020, the Company applied for an EPA Victoria works approval for one of its Melbourne premises to operate above 500 tonnes per annum (tpa) of specified e-waste due to its expected growth in both battery collection and recycling volumes. Envirostream has never operated above 500tpa of specified e-waste at any of its Victorian sites and was previously not required to hold an EPA license to operate. Envirostream notes there has been industry wide confusion around battery classifications as specified e-waste and that battery recycling is a new industry where best practice is still evolving. Envirostream has had regular discussions with regulators about its licensing requirements. Following discussion with EPA Victoria in mid 2020, the Company commenced preparing an application for an EPA license to operate a scheduled premise. The EPA has not issued Envirostream with any breach noticesfollowing its visits to the Company’s premises. The Company is currently working very closely with the EPA to demonstrate industry best practice at Australia’s first battery recycling facility. Envirostream continues to work through the EPA’s process with the view to its application for a license to operate a scheduled premise. The Company continues to operate at below the 500tpa of specified e-waste processing rate and has taken steps to significantly minimize the stock levels at each of its premises to mitigate risk.