Announcement PDF BPH GLOBAL LTD ACN 009 104 330 29 November 2024 Company Announcements Pla9orm Australian Securi<es Exchange Temasek Polytechnic (Singapore) R&D agreement – CriHcal mineral idenHficaHon and extracHon Highlights • • • • • CriHcal Mineral extracHon: Phycomining techniques to unlock essenHal minerals IniHal focus on determining the presence of arsenic, zinc and aluiminium Search for mineral content to focus on arsenic, zinc and aluminium R&D program undertaken by Temasek Polytechnic, overseen by Company’s R&D consultant PrecipitaHon and fermentaHon techniques to be trialled The Board of BPH Global Ltd (ASX: BP8) (Company), is pleased to advise the execu<on of an outsourcing research and development consultancy agreement with TP Innova<on Holdings Pte Ltd (TPIH) on behalf of Temasek Polytechnic in Singapore. Pursuant to the agreement, the Company’s wholly owned, Singapore-based subsidiary Stemcell United Pte Ltd (BP8 Singapore) has engaged TPIH to provide R&D services to the BP8 Group (ConsulHng Agreement). In its announcement to the market earlier this week regarding the renewed agreement with Gaia Mariculture Pte Ltd (Gaia), the Company foreshadowed the outsourcing of certain R&D ac<vi<es to third party R&D services providers under the supervision and oversight of Gaia (Gaia ConsulHng Agreement). The poten<al services to be outsourced includes the study of the efficacy of deploying phycomining techniques in metal recovery. Under the supervision and oversight of Gaia, TPIH will, pursuant to the Consul<ng Agreement, conduct a feasibility study on the efficacy of deploying phycomining techniques in metal recovery. The Company’s objecHves and business model A core R&D goal of the Company is to develop the technology and exper<se to locate, separate and extract cri<cal minerals from seaweed by deploying phycomining techniques. In doing so, the Company will also seek to confirm that seaweeds grown in polluted waters will contain higher concentra<ons of minerals than those grown in pris<ne waters. To achieve these outcomes the BP8 Group will cul<vate seaweed and/or acquire seaweed grown in polluted waters and provide those seaweeds to TPIH to enable the R&D work to be done. CriHcal minerals A cri<cal mineral is a metallic or non-metallic element that has two characteris<cs: • it is essen<al for the func<oning of our modern technologies, economies or na<onal security and • there is a risk that its supply chains could be disrupted. Cri<cal minerals are used to manufacture advanced technologies including mobile phones, computers, fibre-op<c cables, semi-conductors, banknotes, and defence, aerospace and medical applica<ons. Many are used in low-emission technologies such as electric vehicles, wind turbines, solar panels, and rechargeable ba]eries. Risks to cri<cal mineral supply chains can come about when mineral produc<on or processing is dominated by individual countries or companies that could limit availability. Other risks include market immaturity, poli<cal decisions, social unrest, natural disasters, mine accidents, geological scarcity, pandemics, and war. Arsenic, zinc & aluminium - the Company’s iniHal focus The Company has noted that individual countries develop their own lists of cri<cal minerals based on the rela<ve importance of par<cular minerals to their industrial needs and strategic assessment of supply risks. In addi<on, assessments of mineral cri<cality are likely to reflect market and poli<cal condi<ons at a par<cular point in <me and are, therefore subject to change. In addi<on, the Company ability to extract certain cri<cal minerals will be dependent on the specific mineral content of the seaweed cul<vated or purchased by the Company. With these factors in mind, and accep<ng that certain minerals may not be present in certain batches of seaweed, the Company has decided to focus on the extrac<on of arsenic, zinc and aluminium. The Phycomining techniques to be deployed by TPIH Phycomining, also known as Phytomining, is the general term used to describe the concept of mining metals using plants and seaweeds. The Company’s assump<on for its R&D program is that seaweeds grown in contaminated soils will contain higher concentra<ons of metal compounds compared to seaweeds grown in pris<ne waters. Mineral rich seaweeds can be harvested and the metals extracted for use in various industries and industrial processes or sold into the minerals markets. To achieve energy cost savings for the metal recovery process, the Company has instructed TPIH to use two non-thermal intensive techniques in providing the R&D services: § PrecipitaHon: is a method whereby chemicals are added to interact with the soluble metals to form insoluble compounds, so that these can be removed via mechanical filtra<on. § FermentaHon (Anaerobic DigesHon): transforms seaweed biomass to an intermediate liquid product from which essen<al minerals (and nutraceu<cals) can be extracted. The phycomining services to be provided by TPIH The scope of the work to be undertaken by TPIH is defined in the Consultancy Agreement as: • The conduct of a feasibility study on the efficacy of deploying Phycomining techniques based on the use of aqua<c hyperaccumulator biomasses to bioaccumulate higher concentra<ons of metals in seaweed cul<vated in seawater; to compare the concentra<on of metals in seaweed between cul<vars from polluted and non-polluted sites; and consider different techniques to recover valuable metals from the seaweed biomass. • So as to achieve energy cost savings for the metal recovery process, two non-thermal intensive techniques will be used: precipita<on and fermenta<on. • Subsequently, further developmental work in the refinement of these iden<fied techniques will be considered in preparing the next steps to take to improve process efficiency and/or yield of extracted minerals. • TPIH will also: o PrecipitaHon: In rela<on to the precipita<on method: § perform seaweed processing analysis to ascertain the metals content of one selected seaweed species; § perform necessary pre-treatment and precipita<on of metals (from seaweeds); and § ascertain the metallic content of the precipitated solids. o FermentaHon: In rela<on to the fermenta<on method: § perform seaweed fermenta<on using a suitable yeast strain/consor<um for seaweed fermenta<on at 200-1000 ml scale. Suitable natural ingredients may be incorporated (if necessary) into part of the fermenta<on process; § conduct analy<cal tests on the fermenta<on product including colour, clarity, alcohol content, an<oxidant content, heavy metals content and pH; and § conduct extrac<on of metals from the digestate afer fermenta<on process. • TPIH will review preliminary experimenta<on outcomes with the Company and adjust experimental methods accordingly. • TPIH will provide the Company with the following deliverables: o Monthly updates on project progress in end January, February, March, April and May 2025; and o A Final Report which will include the study design, experimental results and the discussion/interpreta<on of the results. Seaweed to be used by TPIH in providing the R&D services will be provided by Gaia on behalf of BP8 Singapore. Other material terms of the TPIH Consultancy Agreement Other material terms of the Consultancy agreement: • • • • • • • • The term of the Consul<ng Agreement is six months from the effec<ve date (2 January 2025) ending on 30 June 2025. The term of the Agreement may be extended for a further period of two (2) months with the agreement of the par<es. The Consul<ng Agreement can be terminated by either party on the giving of thirty (30) days’ no<ce. In considera<on of TPIH providing the the R&D services, BP8 Singapore will pay TPIH SGD$9,750 + GST (Project Fee). The Project Fee is payable in two instalments: (i) SGD$4,875 + GST on the commencement date; and (ii) SGD$4,875 + GST at the end of the term (30 June). All Project intellectual property is the property of BP8 Singapore. The Company grants TPIH and its affiliates and/or subsidiaries an irrevocable, non-exclusive, royalty-free, perpetual, worldwide licence to use the Project Intellectual Property owned by the Company for non-commercial purposes including, but not limited to, the undertaking of any collabora<ve projects with any third party. The credit term is fourteen (14) days from the date of the invoice issued by TPIH. For any late payment, TPIH reserves its rights to charge an interest rate of 8.5% per annum on the total invoice value. Party (the “Termina<ng Party”) shall be en<tled to terminate the Agreement by giving the other party thirty (30) days wri]en no<ce to the other Party upon the occurrence of a material breach of the Consul<ng Agreement or an insolvency event occurs. About Temasek Polytechnic Temasek Polytechnic is a leading ins<tu<on of higher learning located in Tampines, Singapore. Established in 1990, the campus of Temasek Polytechnic sits on a 30 hectare plot near the Bedok Reservoir in the eastern part of Singapore. The ins<tute has approximately 15,000 full-<me students and more than 1,200 academic and administra<ve staff. Temasek Polytechnic offers 37 full-<me diploma courses in the areas of applied sciences, business, design, engineering, humani<es & social sciences, and informa<cs & IT. For further informa.on, please visit our website at www.bp8global.com or contact: Mr Paul Stephenson BPH Global Limited Chairman E: pauls@bp8global.com This announcement has been approved for release by the Board of Directors.