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RENASCOR RESOURCES 29 October 2021 ASX : RNU Significant Events • . Quarterly Activities Report for the period ended 30 September 2021 Renascor entered into a non - binding Strategic Cooperation and Offtake Memorandum of Understanding ( " MOU " ) with South Korean conglomerate POSCO . О The MOU provides for the purchase of 20,000 to 30,000tpa of Purified Spherical Graphite ( " PSG " ) from Renascor's planned Battery Anode Material operation in South Australia and also provides for a potential equity investment by POSCO in Renascor¹ . ○ POSCO , one of South Korea's largest conglomerates , is the largest anode manufacturer outside of China , with production capacity of 44,000tpa and a further 69,000tpa in construction . О With the MOU with POSCO , Renascor has now executed and announced offtake MOUS covering up to 60,000tpa of PSG . Renascor's currently proposed Stage 1 PSG production capacity is approximately 30,000tpa . In addition , Renascor continues to receive a significant volume of inbound enquiry from globally - recognised international groups that are leaders in the battery supply chain . Renascor's Battery Anode Material Project was awarded Major Project Status by the Australian Government . The grant of Major Project Status by the Australian Government is a recognition of the strategic significance of the Siviour Project in contributing to Australia's Critical Mineral Strategy 2019 and the Resource Technology and Critical Mineral Processing National Manufacturing Priority Roadmap . Renascor² lodged the Program for Environment Protection and Rehabilitation ( PEPR ) for the proposed Siviour Graphite Mine , the upstream component of Renascor's Battery Anode Material Project . The PEPR seeks approval for a processing capacity of up to 1.65 million tonnes per annum , which would permit Renascor to produce up to 150,000 tonnes of Graphite Concentrates per year³ . Renascor successfully completed large scale pilot flotation trials at an independent graphite facility as part of advanced testing for the proposed Siviour Graphite Mine . Pilot trials adopting the flowsheet parameters used in recent locked - cycle tests achieved an overall average graphite purity of 95.7 % total carbon ( " TC ” ) at 94.6 % graphite recovery . This compares favourably to the results from the locked cycle tests , which achieved purities of 94.6 % TC with graphite recovery of 94.5 % 5 . Renascor's cash position as of 30 September 2021 was approximately $ 16.1m . Siviour Battery Anode Material Project Powering Clean Energy ESG HF - free 100 % Australian - made Renascor Resources Limited ABN 90 135 531 341 Head office : 36 North Terrace Kent Town SA 5067 Phone : +61 8 8363 6989 Email : info@renascor.com.au www.renascor.com.au 1