Magnis Energy Technologies Limited (:MNSEF) Awards Services Contract to Worley for AAM Project

Magnis Energy Technologies Ltd (ASX:MNS) (FRA:U1P) (OTCMKTS:MNSEF) is pleased to announce it has awarded Worley Group Inc. ("Worley") a services contract to provide pre-Front-End Engineering & Design ("FEED"), FEED, and project permitting services for its planned commercial scale Anode Active Materials ("AAM") project in the US.

After recently appointing commercial real estate adviser Jones Lang Lasalle ("JLL") to secure a location for its commercial facility in the US, Magnis continues to fast track the development of its AAM project through the stages of pre-FEED, FEED and project permitting. The planned deliverables for the pre-FEED phase include:

- Preliminary equipment lists, layouts and plot plan

- Procurement strategy

- Project schedule

- Preliminary capex and opex cost estimates

With technical support, Magnis will progress the selection of the most appropriate site. Following completion of the pre-FEED phase, preparation of a feasibility study, and selection of the site, Magnis will move onto the FEED and project permitting phases.

Magnis CEO David Taylor said, "We are very pleased to execute this services contract and work in collaboration with Worley. Our AAM facility will produce sustainable high quality anode active materials for our customers and is an integral part of our strategy to become a vertically integrated business across the lithium-ion battery value chain."

Con Hoursalas
Group Communications Manager
con.hoursalas@magnis.com.au
Ph: +61 2 8397 9888
www.magnis.com.au

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