Off-take agreement with Tier-1 Manufacturer

This agreement is still on track / Re: annual report
Ensuring the supply of Advanced Anode Material (AAM) commencing in February 2025 at a fixed price. As part of this agreement,
This manufacturer commits to procuring a minimum of 17,500 tons per annum (tpa) of AAM, starting from February 2025,
With the fexibility to acquire up to 35,000 tpa. This contractual commitment spans a minimum duration of three years, all while maintaining a fixed pricing structure.
The fulfllment of this agreement is contingent upon several key milestones.
These include Magnis securing a final location for its commercial AAM facility before June 30, 2023 (which Magnis has met, see below), Successful AAM production from the demonstration plant by March 31, 2024, the initiation of production from the commercial AAM facility by February 1, 2025, and satisfying the necessary customer qualifcation requirements,
These dates are capable of being varied by up to 12 months by agreement.

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