Prospectus lodged for Approval of Mauritian Note IssueVolt...

Prospectus lodged for Approval of Mauritian Note Issue

• Volt pursuing SEM Note Issue and listing as part of its funding strategy to raise US$40 million for the Stage 1 development of Bunyu Graphite Project
• SEM Note Issue to be undertaken in parallel with Tanzanian Note Issue which continues to progress with final approvals currently being sought
• Approvals for SEM Note Issue expected to take approximately 4 weeks - providing an expedited pathway to securing development funding
• Riverfort / Yorkville debt facility now fully repaid

Tanzanian-focused flake graphite development company Volt Resources Limited (ASX: VRC) (Volt or the
Company) is pleased to advise that the draft prospectus for the Company’s 100% owned subsidiary, Volt
Graphite Tanzania Plc’s (VGT) proposed Stock Exchange of Mauritius (“SEM”) Note Issue and listing has
now been lodged for approval.

Volt expects the timeframe for a prospectus to be approved by the SEM (which is the sole regulator) is
approximately 4 weeks. The SEM Note Issue and listing does not require Tanzanian Government approval,
allowing VGT to issue the SEM prospectus and commence the fund-raising process immediately following
receipt of approval. Further details of the Note Issue terms and conditions will be provided once SEM
approval is received.

Discussions with the relevant government authorities in Tanzania are progressing in respect to finalising
the approval for VGT’s Tanzanian Note Issue and listing of the Notes on the Dar es Salaam Stock Exchange.
Recent discussions have indicated that VGT’s approval process has advanced in terms of priority and the
Company will provide further updates on this process in due course.

In addition, VGT continues to undertake discussions with African banks and North American institutional
funds in support of its Stage 1 funding strategy. It is expected that these discussions will further develop
once final approvals are received and funding progresses with the respective Tanzanian and Mauritian Note
Issues.

The Company is also pleased to advise that the outstanding loan notes due to Riverfort Global Capital
(“Riverfort”) and Yorkville Advisors (“Yorkville”) have now been fully repaid following the receipt of funds
from the recently completed Share Purchase Plan (“SPP”) and Top-up Placement (refer ASX release dated
21 August 2019).

The SPP was well supported by Volt’s shareholders, eligible directors and CEO Trevor Matthews who all
took up their maximum allocation, and the Company remains firmly focused on finalising development
funding and commencing work on the Stage 1 development of Bunyu as quickly as possible.