Ann: Update on Aleees Arrangements and Work on LFP Project, page-5

Highlights for me

- already in discussions for offtakers for LFP with aleees

- ALEEES seem to be an amazing partner in this

- demonstrating work with NT govt is ongoing and serious - not just a one off "yeah come chat to us later and maybe you can have some land"

- aleees only asking for $500k instead of $2m by December 2023. Way less capital pressure for this year and demonstrates the desire to work together.

- this means likely no capital raise and gives time for institutional placement

- Potentially gives time for offtake by end of December.

- Potentially implies LFP will be in a serious development position by 1H 2024
- appreciate the company providing these updates, now give us the offtake!!!!
- apologies for the rough write up - on a road trip with the missus and snuck this in. Quotes below with my headings for context.

ALEEES PARTNER AND OFFTAKES FOR LFP HAPPENING

" Aleees has deep industry connections with offtakers in Asia and will provide management support during the development and operations of the LFP Project...

Working closely with Aleees, Avenira has commenced discussions with a number of global car manufacturers seeking supply of Lithium Ferro Phosphate (LFP) cathode active material. Aleees has provided valuable technical support to these discussions. "

ONGOING SERIOUS WORK WITH NT GOVT

"Avenira and Aleees are also continuing to work closely with the Northern Territory Government to finalise site-specific requirements at Darwin’s Middle Arm Sustainable Development Precinct, the proposed site for Avenira’s LFP Project."

ALEEES EXTENTION IN LINE WITH WONARAH = OFFTAKE SOON? LFP ANNOUNCEMENTS BY 1H 2024?

"Avenira and Aleees have also agreed to extend the time for payment of the first US$2 million licence fee

due under the Licence and Technology Transfer Agreement, with US$500,000 to be paid on or before 24 December 2023, US$750,000 on or before 31 March 2024 and the balance US$750,000 payable by 30 June 2024.

This aligns with timing for work at Wonarah, and in relation to the Middle Arm site, to be advanced in preparation for commencement of activities by Aleees that will inform the LFP Project feasibility study."