NRZ.ASX: Chairmans Letter to Shareholders

Chairmans Letter to Shareholders

Stock	Neurizer Ltd (NRZ.ASX)
Release Time	13 Mar 2026, 5:26 p.m.
Price Sensitive	Yes

This feature provides summaries of price-sensitive announcements for companies followed by users on InvestorPA. The summaries are generated by large language models so please interpret with care.

Neurizer Ltd provides update on Leigh Creek project and RIL collaboration

Key Points

Signed agreements with Reliance Industries Limited (RIL) for technology transfer, sale of plant and equipment, and long-term business relationship
Able to accelerate NeuRizer Urea Project (NRUP) work at Leigh Creek and progress Environmental Impact Statement
Resolved short to medium term funding issues, allowing lodgment of overdue financial reports

Full Summary

Neurizer Ltd (NRZ) is pleased to provide an update on its collaboration with Reliance Industries Limited (RIL) from India, which will enable the company to accelerate its NeuRizer Urea Project (NRUP) work at Leigh Creek. NRZ originally signed a monthly consultancy agreement with RIL to examine the removal of the plant and equipment at Leigh Creek, IP transfer, and potential for RIL to undertake Underground Coal Gasification (UCG) in India. This has now progressed to the signing of Letters of Award for Technology Transfer (LOA1) and the sale of Plant and Equipment (LOA2), with the other contracts (Technical Services Agreement and Master Contract) remaining in draft form. The RIL transaction is transformational for NRZ, as it resolves the company's short to medium term funding issues, allowing it to lodge overdue financial reports and call an Annual General Meeting. NRZ will now be able to expedite the Stage 1 and 2 Environmental Impact Statements for the NRUP without the need for taking on debt or diluting shareholders. The agreements with RIL also mean NRZ will be paid for the plant and equipment that will be transported to India, allowing the company to meet an important milestone with the South Australian Government. NRZ has also continued collaborating with DL E&C Co Ltd to divide the NRUP EPCC contract and resolve any outstanding work on the feasibility study. The company looks forward to providing further updates as it moves forward with the NRUP and its collaboration with RIL.

Outlook

NRZ is now able to focus on working with RIL to complete the final two contracts and to lodge all required documents with the ASX. The company looks forward to being able to move forward on its key project at Leigh Creek, work closely with RIL, and push on with other international opportunities.