Ann: HZR & Mitsui Agree to Advance Collaboration on HZR Graphite, page-3

Highlights:
• Hazer and Mitsui advance collaboration for graphite marketing following positive market feedback.
• Steel making and chemicals industries confirmed as potentially high-confidence markets.
• Near-term China supply constraints favourably benefit Hazer’s market position as a future large
scale graphite producer.


PERTH, AUSTRALIA; 30 October 2023: Hazer Group Limited (“Hazer” or “the Company”) (ASX: HZR) has
signed an extension of the previously announced non-binding Memorandum of Understanding (“MOU”) with
Mitsui & Co., Ltd. (“Mitsui”, Tokyo, Japan), a global trading and investment company based in Japan, to
advance activities relating to the joint investigation of the potential markets for Hazer graphite.
Under the original MOU (ref. announcement 16 November 2022), Hazer and Mitsui agreed to conduct an initial
marketing survey of applications for Hazer’s low emissions graphite in the steel making and chemicals
industries, utilising Mitsui’s global network. Following detailed evaluation and testing, the parties have received
positive market feedback and successfully identified several potential customers showing initial interest in
Hazer graphite.
As a result, the parties have agreed to progress to the next phase of joint investigation, which involves further
product evaluation and testing of larger samples to be provided from Hazer’s Commercial Demonstration Plant
(“CDP”) which is expected to commence operations in 2023.
In addition to the joint market investigation for Hazer graphite, Hazer and Mitsui have agreed to jointly explore
other potential commercial opportunities on mutually agreeable terms.

Terms are the only bit requiring clear and certain binding contracts before this flys!