$1.1 Million Grant cash payment received

• $1.1 million grant payment received from ARENA for SA1 Salisbury bioenergy facility
• Total grant payments now at $3.8 million under $6.08 million agreement
• Significant construction milestones achieved, bringing project closer to first renewable gas production

Delorean Corporation Ltd has announced that it has received the second cash payment milestone of $1.1 million exclusive of GST under an existing $6.08 million grant funding agreement with the Australian Government's Australian Renewable Energy Agency (ARENA). This brings the total grant payments received under the agreement to $3.8 million. The grant funding, provided under ARENA's National Industrial Transformation Program, is accelerating the development of Delorean's SA1 Salisbury bioenergy facility, currently under construction in Edinburgh Parks, South Australia. The ARENA payment retrospectively funds Delorean for the costs of procurement, installation, and commissioning of critical infrastructure upgrades to enhance the facility's ability to produce and upgrade biogas into mains-grade biomethane. This renewable gas will be supplied to industrial users through the Adelaide gas network under a long-term offtake agreement with Origin Energy. Delorean has also provided an update on the construction progress of the SA1 Salisbury Bioenergy Project, highlighting significant milestones achieved, including the erection of the reception shed and anaerobic digestion (AD) tanks, procurement of all long-lead items, ongoing shed construction, delivery and installation of tank ancillary equipment, and the delivery of the Combined Heat and Power (CHP) unit and biomethane upgrade unit long-lead components. The flagship project continues to advance, bringing the company closer to first renewable gas production and the delivery of long-term environmental and economic benefits to South Australian industry.

The company has secured long-term offtake agreements from the SA1 project with Origin Energy for biomethane and Supagas for renewable liquid CO2, locking in revenues with investment grade counterparties of up to ~$55 million for the 10-year term.

The flagship SA1 Salisbury Bioenergy Project continues to advance, bringing the company closer to first renewable gas production and the delivery of long-term environmental and economic benefits to South Australian industry.