Lion Energy's Joint Development Agreement for Green Hydrogen Project

Lion Energy Limited (ASX: $LIO) has entered into a joint development agreement with DGA Energy Solutions Australia Pty Ltd (DGA), a subsidiary of Mitsubishi Corporation, and Samsung C&T Corporation to develop a green hydrogen hub at Port of Brisbane. Under the agreement, DGA and Samsung C&T will pay a total of A$3.7m to Lion for historical and ongoing pre-construction costs, in exchange for a 25% interest each in the Project. Lion H2 Energy Pty Ltd, the Project company, will be owned 50% by Lion Energy, 25% by DGA, and 25% by Samsung C&T.

Executive Commentary on Joint Development Agreement

We are delighted to partner with DGA and Samsung, who bring to the Project a wealth of experience in their respective fields. Their interest reflects a confidence not only in the significant potential for green hydrogen in Australia but also in Lion's capabilities. For Lion, the transaction results in the Project being funded and will allow us to allocate existing and future capital for new projects.

Summary of Lion Energy's Joint Development Agreement

Lion Energy Limited (ASX: $LIO) has finalized a joint development agreement with DGA Energy Solutions Australia Pty Ltd and Samsung C&T Corporation to develop a green hydrogen hub at Port of Brisbane. The agreement involves DGA and Samsung C&T paying a total of A$3.7m to Lion for pre-construction costs and acquiring a 25% interest each in the Project. Lion H2 Energy Pty Ltd, the Project company, will be owned 50% by Lion Energy, 25% by DGA, and 25% by Samsung C&T. The Project aims to create a blueprint for green hydrogen facilities across eastern Australia and assist the heavy-mobility transportation industry in transitioning towards zero-emissions. Lion expects to update the market on offtake agreements in Q3 2024.