DGAP-Adhoc: Vulcan Energy Resources Limited: Stellantis to become substantial shareholder in Vulcan Energy through €50 million (AUS$ 76 million) equity investment

Stellantis to become substantial shareholder in Vulcan Energy through €50 million (AUS$ 76 million) equity investment

Vulcan Energy Resources Limited (Vulcan; ASX: VUL, FSE: VUL) has today agreed a €50 million (A$76 million) equity investment from Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA, Stellantis) pursuant to a resolution of the Board of Directors.

Stellantis will become the second largest shareholder in Vulcan, at 8% shareholding, following issue of the fully paid ordinary shares at the 30-day Volume Weighted Average Price (VWAP) of €4.367 (A$6.622) per share which represents ~11.450m shares.

Vulcan and Stellantis have also extended their binding lithium hydroxide offtake agreement, concluded on 29 November 2021, by five years, to 2035.

Stellantis is one of the world’s leading automakers and mobility providers. Vulcan understands that this represents the world’s first upstream investment in a listed lithium company by an international automaker.