Ann: Kwinana Cobalt Refinery - Pre FID Consortium Deed Executed, page-2

KEY POINTSaCobalt Blue Holdings Limited (ASX: COB) (‘COB’ or ‘Cobalt Blue’)is pleased to announce execution of a binding pre-Final InvestmentDecision (‘FID’) Consortium Deed (‘the Deed’) with Iwatani AustraliaPty Limited (‘IWA’).aThe Deed provides the terms under which the parties will progress theKwinana Cobalt Refinery (‘KCR’ or ‘the Project’) to FID.aIf the Project proceeds, it is expected that KCR will be Australia’s firstcobalt refinery and will produce high-quality, battery-grade cobalt sulphatefor the global battery materials supply chain. Base case (stage one) plantcapacity is currently anticipated at 3,000 tonnes per annum (tpa) cobalt(as cobalt sulphate or metal).aCOB’s robust ESG policies and standards, which will be adopted for theProject, are aligned with industry best practice and provide the foundationfor the company’s sustainability framework. QUOTE

Progress for a positive outcome in the future of the proposed nickel/cobalt refinery IMO