Ann: New Large Project in Wuhan, China, page-11

Good news from Phoslock. And it seems that we're due some more news soon on other projects, so watch this space...

ASX ANNOUNCEMENT

Tuesday 1stOctober2019

New 30km2 East Lake (Donghu) project in Wuhan City, the capital of Hubei Province, China

Phoslock Environmental Technologies (ASX: PET) is pleased to advise that it has signed a contract to commence work applying Phoslock® to the East Lake, China’s second biggest downtown lake, Wuhan City, a 3,362-hectarelake in Yangtze River Basin in Central China. The specific details relating to the contract are subject to a confidentiality agreement.

This new project will be an important application, opening a new field of ecological restoration of the eco-environmental protection in the Yangtze River Economic Belt in China. The Wuhan City’s lakes area is vast, with 68 lakes larger than 100 hectares, most of which are grade 5 (very poor) or worse in water quality.

There are significant opportunities for treating other lakes in this area. This project involves a large lake where a portion of this lake will be barriered off and Phoslock® will be applied to this area. The Company is also progressing other new projects detailed in the 23 August 2019 business update. More information will be advised when contracts are formally signed.

Chairman Laurence Freedman AM stated: “I am, once again, delighted to be announcing yet another new program, in a new area for us in China. This province alone is likely to provide the Group with many years of Phoslock® remediation works. We are also achieving breakthrough results in the development of new products, particularly for applications in running water and in-ground wetlands. I must congratulate the outstanding-and growing-Chinese technical, engineering and management teams, led by our two directors, Mr Zhang and Mr Ma. I look forward to adding to the progress of our International businesses in the near future.”