2022.05.24Notice from China Headquarters—Contract Signed with the Jujuy State Energy and Mining Company (JEMSE) of Argentina

Hefei Gotion High-tech Power Energy Co., Ltd. (Gotion) and the Jujuy State Energy and Mining Company (JEMSE) of Argentina have concluded a strategic cooperation agreement based on the online signing of a contract. The two companies have agreed to engage in comprehensive strategic cooperation in securing local lithium resources, constructing a lithium carbonate refining plant, and expanding downstream operations in the lithium battery industry.

Jujuy Province is located in theheart of South America'sLithium Triangle, with concentrated salt lake resources and extensive mining experience,andcan extract lithium from halogen water at low cost. It has established close cooperation with companies from France, Australia, Canada, the United States, Japan, and China.

Under this contract, Gotion and JEMSE plan to jointly construct a battery-grade lithium carbonate refining plant in a bonded zone in Jujuy Province. JEMSE will provide exploration rights for approximately 17,000 hectares of potential lithium mineral resources and mining rights, thereby guaranteeing the supply of resources. The two companies will also cooperate in downstream lithium industry operations, including cathode materials and battery manufacturing, and jointly develop the European and American markets.explorationand mining rights. The two companies will also cooperate in downstream lithium industry operations, including cathode materials and battery manufacturing, and jointly develop the European and American markets.

Gotion Chairman Li Zhen said, “Energy and environmental protection are the two major issues of our time. Guided by the global dual-carbon strategy, we are pleased to cooperate with JEMSE to jointly promote the scientific development and utilization of lithium resources. The two companies will first cooperate in securing lithium carbonate resources and constructing battery production lines, among other areas, and jointly promote Gotion’s development in Argentina, expansion of its presence in South America, and global expansion.”

2Governor Morales of Jujuy Province said, “Gotion is a renowned company in the global lithium industry and has extensive experience in lithium battery production. We warmly welcome Gotion’s investment in Jujuy Province. We expect Gotion to fully leverage its technological advantages, continuously enhance the value of Jujuy Province’s lithium resources, and sell its products in the global market. The relevant departments of Jujuy Province will also provide their full support for Gotion’s development locally and work to ensure the success of the project.”