Entitlement offer and share placement to Advance Battery Projects

Release Highlights:

• Altech Batteries has launched an AUD 8.5 million pro-rata Entitlement Offer for existing eligible shareholders, which is partially underwritten for AUD 5 million by MAA Group Berhad, an entity related to Altech director Tunku Yaacob Khyra. This Entitlement Offer aims to raise significant funds for the company’s ongoing projects.
• In addition to the Entitlement Offer, Altech has successfully raised AUD 405,000 through a placement to sophisticated and professional investors. Participants in both the placement and Entitlement Offer will receive free attaching options on the basis of one option for every two shares held, with an exercise price of AUD 0.06 and an expiry date of December 31, 2025.
• The total capital raised, amounting to approximately AUD 8.9 million, will be utilized to further progress Altech’s CERENERGY® battery project and the commissioning of the Silumina Anodes™ pilot plant. The company will also apply to the ASX for the listing of the newly issued shares and options.