EQS-Adhoc: Vulcan Energy Resources Limited: Vulcan Energy signs agreements with CIMIC Group, Hancock Prospecting and Victor Smorgon Group for a total equity investment of EUR 40 million

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014

Vulcan Energy signs agreements with CIMIC Group, Hancock Prospecting and Victor Smorgon Group for a total equity investment of EUR 40 million as part of a capital increase with the exclusion of subscription rights

Vulcan Energy Resources Limited (Vulcan Energy; ASX: VUL, FSE: VUL) has today entered into agreements with CIMIC Group (a group company of HOCHTIEF AG ("CIMIC"), Hancock Prospecting Pty Ltd ("HPPL") and Victor Smorgon Group ("VSG") for a total equity investment of EUR 40 million. The investors have committed to acquire new shares in Vulcan Energy of EUR 25 million (CIMIC), EUR 12.5 million (HPPL), and EUR 2.5 million (VSG) in a combined capital increase with the exclusion of subscription rights of the existing shareholders at a placement price of EUR 2.50 per new share. The board of directors of Vulcan Energy has approved this equity investment and the capital increase is expected to be implemented shortly.

A total of 16 million new shares are to be issued to the three investors as part of the capital increase. As a new investor, CIMIC will acquire a shareholding of approx. 6% in Vulcan Energy as part of the capital increase. HPPL is an existing shareholder and will increase its shareholding to approx. 7.5% as part of the capital increase.

It is intended that the proceeds from the capital increase will be used to enable the early validation works for the Engineering Procurement and Construction Management (EPCM) contract for Vulcan’s Phase One lithium plant, and other activities including engineering and the pre-ordering of long lead items.

1915895  02-Jun-2024 CET/CEST