Magnis Energy Technologies Limited: Annual Report to Shareholders

Sydney, Australia - Magnis Energy Technologies Ltd. (ASX:MNS) (FRA:U1P) (OTCMKTS:MNSEF) is a vertically integrated lithium-ion battery technology and materials company with strategic assets, investments and partnerships in key segments of the energy transition supply chain.

The company's vision is to enable, support and accelerate the mass adoption of electric vehicles and renewable energy storage critical for the green energy transition.

The company's US based subsidiary Imperium3 New York, Inc ("iM3NY") operates a Gigawatt scale Lithium-ion battery cell manufacturing plant in Endicott, New York that plans to scale up to 38GWh of capacity by 2030. Magnis along with its joint venture and Lithium-ion R&D technology partner Charge CCCV LLC ("C4V") are the major shareholders in iM3NY. iM3NY has commercialised C4V's patented cathode chemistry to produce green credentialed lithium-ion battery cells for use in both electric vehicles and battery energy storage systems. iM3NY has exclusivity to C4V's IP in the US. Magnis is also a consortium partner along with C4V in a greenfield battery project planned for Townsville, Australia.

Magnis also has a minority investment stake in C4V.

Apart from C4V's portfolio of Lithium-ion battery IP and Innovation developed over the last decade, C4V also provides value chain solutions for Lithium-ion battery manufacturing projects around the world through cell design and engineering, cell fabrication process, qualification of raw materials supply chain and cell fabrication equipment supplier, blueprint of plants and engaging with EPC contractors.

Magnis has a 100% interest in the Nachu Project which is a large-scale natural flake graphite project in Tanzania. The project has both very high concentrate purity as well as a large percentage of coarse flake sizes and both attributes command premium prices. Magnis has also exclusively licensed C4V's anode processing IP and know-how to produce high-quality, high-performance anode materials.

Magnis in conjunction with C4V have an anode development program with pilot precursor anode material equipment in New York.

*To view the Annual Report, please visit:
https://abnnewswire.net/lnk/41I05431

About Magnis Energy Technologies Limited:

Magnis Energy Technologies Ltd. (ASX:MNS) (OTCMKTS:MNSEF) (FRA:U1P) is involved in and has strategic investments in several aspects of the electrification supply chain including manufacturing of green credentialed lithium-ion battery cells, leading edge battery technology and high quality, high performance anode materials. The company's vision is to enable, support and accelerate the green energy transition critical for the adoption of Electric Mobility and Renewable Energy Storage.

Source:
Magnis Energy Technologies Ltd.

Contact:

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