Confirmation of “New Mine” status by the South Australian Government enables Renascor to lock in a reduced Royalty Rate for the Siviour Project

Renascor Resources Limited (ASX: RNU) (Renascor) is pleased to announce that it has received confirmation from the South Australian Government Treasury that the Siviour Graphite Project has been classified as a ‘New Mine’ for the purposes of State royalty calculations 1 .

The successful attainment of New Mine status means that the Project will incur a reduced royalty rate of 2% of the net value of the minerals recovered from the Siviour Mine through 30 June 2026, representing a reduction from 3.5% over the initial years of production2 .

Renascor’s 100% owned Siviour Project is on track to become Australia’s first vertically integrated Purified Spherical Graphite production facility3 . With the largest reported Graphite Ore Reserve outside of Africa4 , Renascor is well positioned to become a secure, low-cost supplier of materials critical to the production of electric vehicle batteries and offgrid power storage.

1 See South Australian Government Gazette of 14 January 2021.

2 In the 2018 South Australian State Budget, the reduced royalty for New Mines was discontinued from 1 July 2020. Notwithstanding this discontinuance, Siviour’s classification as a ‘New Mine’ entitles Siviour to the reduced royalty rate through 30 June 2026. See https://energymining.sa.gov.au/minerals/mining/mineral_royalties.