• US$10 million secured loan facility agreed with major shareholder RCF
• Provides funding to advance the Australian Vanadium Project and downstream initiatives
• Supports preparations for Western Australian Government's 500MWh Vanadium Battery Energy Storage System tender

Australian Vanadium Limited (ASX: AVL) has entered into a secured US$10 million loan facility with major shareholder RCF Private Equity Fund I L.P. (formerly known as Resource Capital Fund VII L.P.) and Resource Capital Fund (Cardinal) L.P. The loan facility provides prudent medium-term funding, giving AVL the time and flexibility to progress key workstreams for the Australian Vanadium Project towards construction readiness and to advance its downstream initiatives. The funding will also support the company's preparations for the Western Australian Government's anticipated Expression of Interest (EOI) for a 500MWh Vanadium Battery Energy Storage System (VBESS) in Kalgoorlie, expected in the second half of 2025. Following a market sounding process, the AVL Board determined that the RCF proposal represented the most favourable option for shareholders, noting RCF's alignment with the success of the business as a significant existing shareholder. The loan facility forms an interim step within AVL's broader capital strategy, as the company continues to progress its vertically integrated strategy to become a globally competitive supplier of battery-grade vanadium products and energy storage solutions.