BTR's subsidiary, BTR (Jiangsu) New Materials Technology Co., Ltd., and BNUO INTERNATIONAL HOLDING PTE. LTD. (hereinafter referred to as "BNUO Company"), are strategically expanding their lithium battery cathode material operations.
They plan to sign an 'Investment Agreement' with the Kingdom of Morocco to establish a project company through BNUO Company for the investment and construction of a lithium battery cathode material project with an annual production
capacity of 50,000 tons in Morocco. The total planned investment for the project is expected not to exceed RMB 3.535 billion.

Project Details:

The project will be implemented on the land located in Tangier Technopark City, Tangier Province (Tangier-Tetouan-Hoceima Region), Morocco. It involves the establishment of a cathode material manufacturing plant with a production
capacity of 50,000 tons per year, to be carried out in phases.

Investment Objectives:

Against the backdrop of the continuous development in the new energy vehicle industry, and aiming to better serve customers, meet market demands, expand overseas market share, and enhance the company's market share and
overall competitiveness in cathode materials, the company intends to invest in and construct cathode material production capacity in the Kingdom of Morocco.