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The conclusion of the significant agreement

The conclusion of the significant agreement

Date of publication: 28.04.2023

The Management Board of PROCHEM S.A. with its registered office in Warsaw (hereinafter referred to as the “Issuer”), informs that on April 28, 2023, the Issuer signed a contract with Elemental Strategic Metals sp. z o.o. with its registered office in Grodzisk Mazowiecki, a contract for the general implementation of an investment involving the construction of a recycling installation for lithium-ion batteries and car catalysts consisting in the recovery of metals called “Development and first industrial implementation of innovative technologies for recycling lithium-ion batteries and catalysts with the recovery of metals of strategic importance”.

The contract completion date is set for July 2024.

The Issuer’s remuneration includes remuneration for design works and for works in the scope of GRI (Management Contracting), including the margin and coverage of the costs of the execution of subject of the contract, hence the final amount of PROCHEM S.A. remuneration will be possible to determine after only the settlement of the costs incurred. Taking into account the investment budget and the size of the works, the expected remuneration of the Issuer will amount to approximately PLN 30 million net.