Optionsvertrag zum Erwerb von bis zu 49% der Anteile an der Altech Chemicals Australia PTY LTD - HPA Projekt, page-4

Applying the current HPA price in Japan of US$ 40kg, the NPV of the project is US $1.1bn, the IRR 33%, payback is 2.2 years and EBITDA US$ 133m p.a. at full production.

The key terms of the option agreement are:

1. YAG has the right to acquire at least 10% (for a pro rata amount of US$ 20.408 million) up to a direct HPA project share of up to 49% for US$ 100 million by subscribing shares in Altech Australia;
2. YAG commits to sell the acquired shares back to Altech after 6 years from the start of the project („Project Financial Close“) based on a return of 15% p.a.;
3. Altech receives the right to repurchase the acquired shares in Altech Australia from YAG prematurely on the same basis within 6 years,
4. YAG may terminate its resale obligation at any time, thereby retaining its HPA Project participation, by paying a certain cancellation fee to Altech.

For this option, YAG will pay Altech Australia a non-refundable fee of EUR 500,000 in cash after closing.

Following signing of the option agreement, YAG is to be renamed „Altech Advanced Materials AG“.