Ann: St George Signs MoU with Global Battery Giant - SVOLT, page-4

• St George and SVOLT Energy Technology Co., Ltd (“SVOLT") enter into a Memorandum
of Understanding (“MoU”) to establish a strategic relationship for collaboration on the
development and acquisition of lithium projects
• SVOLT is one of the world’s largest manufacturers of batteries for electric vehicles and
energy storage, with operations in domestic China and abroad that supply batteries to
more than 30 automobile makers and other customers
• SVOLT has industry leading credentials in battery innovation, and pioneered the first
mass produced cobalt-free battery
• MoU establishes a framework for St George and SVOLT to negotiate and consider
potentially entering into a range of commercial transactions for investment and
offtake opportunities relating to lithium projects in Australia including:
◆ SVOLT to invest up to $5 million in St George by way of a placement of shares
of St George to SVOLT, subject to agreement on pricing and completion of due
diligence by SVOLT
◆ offtake arrangements whereby SVOLT may secure up to 25% of potential
spodumene concentrate from the Mt Alexander Lithium Project
◆ the provision of funding support to St George for the development of lithium
projects
◆ a potential joint venture by St George and SVOLT to acquire and develop new
lithium projects