• Hazer and POSCO extend collaboration to progress integration of Hazer's clean hydrogen and low-emissions graphite technology into POSCO's low-carbon steel making pathway
• Extension follows successful testing of Hazer Graphite by POSCO across several steel making and industrial applications
• Hazer technology is uniquely positioned to support the decarbonisation of the global steel making industry responsible for more than 8% of the world's CO2 emissions

Hazer Group Ltd ('Hazer' or 'the Company') (ASX: HZR) has extended its existing non-binding Memorandum of Understanding ('MOU') with POSCO Steel ('POSCO') for a further two (2) years or until formal binding agreements are executed. The extension progresses collaborative work underway since the original MOU was signed on 31 May 2024 and sets out next steps in preparing a project pathway for the integration of Hazer's technology into POSCO's proprietary low carbon steel process. The extension follows a successful period of initial collaboration between the parties, including testing by POSCO of Hazer's low emissions graphite across a range of potential applications within steel making and in broader industrial sectors. The testing program continues, following promising initial results. Steelmaking is a highly carbon-intensive industry, responsible for more than 8% of global CO2 emissions. Hazer's technology offers a compelling pathway to decarbonise steel manufacturing through the co-production of low-cost, clean hydrogen and high-purity graphite, using iron ore as a process catalyst. Hazer continues to engage with leading global steelmakers on the application of both hydrogen and graphite within blast furnace operations and in Direct Reduced Iron ('DRI') / Electric Arc Furnace ('EAF') steelmaking pathways, assessing multiple opportunities to reduce emissions intensity across these process routes. POSCO, based in Pohang South Korea, is one of the world's largest steel makers and has announced its plan to achieve carbon neutrality by 2050.

Hazer and POSCO will continue developing their partnership alongside the growing interest in Hazer's technology across the steel industry, as the companies work to progress the integration of Hazer's clean hydrogen and low-emissions graphite technology into POSCO's low-carbon steel making pathway.