Commercial / Page 4

ZEN has become a signatory to the global Equal by 30 initiative.

30 August 2023

Australia’s first 1.5° Energy Company signs up to Global Equal by 30 Initiative.

ZEN Energy announced today that it has become a signatory to the global Equal by 30 initiative. Equal by 30 is a public commitment by public and private sector organisations to work towards equal pay, leadership and opportunities for women in the clean energy sector by 2030.

“ZEN is the first Australian headquartered energy retailer to become a signatory to this important global program,” said ZEN Non-Executive Director and Chair of ZEN-A, Paula Conboy. “As Chair of ZEN-A, ZEN’s female engagement network, I am proud of the work that the team has done to get us to this point.”

“We are building an organisation where women take a key role across our business. ZEN-A was launched in January this year, and already, we have signed up to this important program joining fellow signatories the Australian government and the Clean Energy Council.”

As a signatory, ZEN has expanded on the required private company principles to include goals to reach full gender balance by 2030, revising its parental policy to industry best practice and expanding female representation at the leadership level.

“We are delighted that ZEN has become a signatory,” said Nicola Falcon, 2023 Equality Initiative Ambassador for the Australian Department of Climate Change, Energy, the Environment and Water. “We must continue to inspire the next generation of women leaders in Australia’s clean energy industry on our journey to transforming the energy sector and achieving net zero.”

“ZEN has a deeply engaged team with our recent engagement score of 89% being 19% above our industry average. Key to keeping our team engaged is deepening our commitment across the full range of ESG (Environmental, Social & Governance) areas including gender equality,” added Anthony Garnaut, ZEN Energy CEO.

ZEN-A was formed to give women a place to discuss issues relevant to them, to be leaders and to provide a framework for equality within ZEN. Žena is the word for woman across a number of Slavic countries.

Media Release

Commercial / Page 4

ZEN ENERGY RAMPS UP ITS GREEN IRON INITIAVE

21 July 2023

ZEN Energy has announced its intent to make Green Iron and Green Iron co-product manufacturing real in Australia. ZEN’s Green Iron Initiative will enable a successful, commercial scale green iron plant in Australia, with an initial focus on South Australia, on an early timetable.

“ZEN’s team is identifying the best green iron process solutions for Australia. We are seeking, through targeted partnerships, to help supply the renewable electricity, green hydrogen, materials, process and site requirements for the earliest successful green iron plant development”, said ZEN CEO, Anthony Garnaut. “Preferred sites in South Australia and in Western Australia have been identified, with access to renewable power at globally competitive rates, as well as transport, utilities and feed materials”.

Last year, the global steel industry produced close to 2 billion tonnes of steel, releasing over 3.5 billion tonnes of carbon dioxide emissions, about 9 percent of global emissions. Most of these emissions are released during the ironmaking stage.

Australia contributes approximately 28% of the iron ore and 6% of the metallurgical coal used in world steel production. Most major steel producers have committed to net zero carbon emissions by 2050 or sooner. “Within this changing landscape, Australia is well placed to be a leading producer of green iron at the scale needed to support a globally competitive, low emission business ecosystem”, added Garnaut.

The critical, immediate requirement to enable the production of green iron and co-products is the reliable supply of substantial amounts of renewable electricity, which is used to create green hydrogen as the primary reduction agent in place of fossil fuel sourced agents, as well as for direct use in the process. ZEN has the expertise to develop staged solutions for firmed renewable energy supply that meets the requirements and timelines for this project.

“We have established networks with operating renewable assets, as well as critical stakeholders across the globe needed for renewable asset development. ZEN has already executed innovative agreements, enabling us to optimise renewable assets performance within Australia”.

ZEN is actively exploring many potential approaches as part of the Green Iron Initiative. These include process options at different levels of technology readiness, that vary in the absolute through-process carbon mitigation potential. These options differ also in the inputs and feed material types and grades, as well as the process efficiency, output rate and form of products made.

While the Green Iron Initiative is technology agnostic – it is not yet clear what are the most efficient pathways to produce green iron at scale – ZEN is currently evaluating a novel green iron process route, incorporating renewable electricity and green hydrogen in an electric smelting furnace step, using a variety of potential Australian sourced ferrous feeds. Theoretical process design calculations have been performed and are being validated through pilot scale test work and an intellectual property application has been lodged. This work is being undertaken by ZEN and builds on a collaboration between Mr. Wang Jun (with more than 40 years steelmaking experience) and Mr. John Tsalapatis (General Manager of ZEN’s Green Iron Initiative, who has over 35 years of ironmaking experience), and metallurgical research conducted by a pre-eminent research institution.

MEDIA RELEASE

Commercial / Page 4

ZEN Volunteering Day at the Tauondi Aboriginal College

KEY FACTS

Celebrating

50 years of the Tauondi Aboriginal College by giving back to the Indigenous community

Connecting

Volunteering days foster empathy, cultural appreciation and wellbeing

Thinking innovatively

prompts us to question our assumptions, broadens our worldview, and encourages us to consider diverse perspectives

A DAY OF GIVING BACK TO THE COMMUNITY

Every act of volunteering, no matter how small, contributes to creating a more compassionate, resilient, and harmonious society.

Every year, ZEN runs a volunteering day and this year we wanted to celebrate 50 years of the Tauondi Aboriginal College, in Kaurna Country, by getting our hands dirty and learning more about Indigenous culture. Tauondi is one of the oldest Aboriginal community-controlled organisations in SA and provides a range of critical education and social services from its property in Port Adelaide.

A significant amount of work was required to tidy up the grounds and keep up with the property’s maintenance. The ZEN team, MAC Trade Services and the SA Government Department of Energy & Mining also contributed to restoring the fireplace area, as smoke ceremonies are a key part of Indigenous practices, often used for purification, cleansing, and connecting with the spiritual realm. It is important to note that such ceremony should always be approached with respect, cultural sensitivity and by the specific Indigenous group’s teachings and traditions.

So much was achieved in just one day, which shows how powerful it is to join hands and connect with nature and the community.

While ZEN is early on its Reconciliation journey, we look forward to using our 12-month Reflect period to build a foundation to leverage our sphere of influence to promote positive change. This starts with actively engaging with First Nations communities and leaders to guide us on that journey. Moreover, establishing sustainable and targeted relationships with First Nations partners based on trust and a commitment to shared value.

Head of Structured Capital Projects

Lara Reid

ZEN has recently announced its Reconciliation Action Plan (RAP) and as part of the RAP, we want to support the Indigenous population where we can. Having that connection here at Tauondi Aboriginal College has been a great way for ZEN to be able to connect.

Volunteering Day at The Forktree Project

DOWNLOAD OUR RECONCILIATION ACTION PLAN

Download

Green Iron: A Sustainable Steel-Making Process

Green Iron is a description for sustainable processes under development, many that use renewable electricity and green hydrogen (instead of coal or natural gas and other fossil fuels), to convert iron ore into iron products that can then be used to create high-grade steel. These processes have the potential to reduce steelmaking carbon emissions by over 90% compared to fossil-fuel-based steelmaking processes. Traditional steel-making processes are highly carbon-intensive and contribute significantly to global carbon emissions. Steel production globally is currently responsible for approximately 8% of yearly human-derived carbon emissions. It is a key component in many industries and activities around the world, while the demand for steel will continue to grow. The Green Iron technologies offer innovative solutions to reduce the carbon footprint of steel production and promote sustainable development. For Australia, a country rich in iron ore deposits and the major exporter of iron ore globally, this equates to a significant opportunity to transform the Australian economy and become a superpower in the zero-carbon economy.

Liquid steel is poured from a metallurgical ladle.

Green Iron Process

At present the main Green Iron-processes being pursued utilise renewable energy and hydrogen to convert iron ore into iron. The processes involve the reduction of iron ore to iron using hydrogen gas, followed by the conversion of iron into steel using an electric arc furnace. The hydrogen required for these processes is produced using renewable energy sources such as wind and solar power, creating what is known as “green hydrogen.” This makes the Green Iron process routes a sustainable, near zero carbon emission feed for steel-making processes around the world.

The traditional steel-making process involves the use of coal made into coke, also natural gas and other fossil fuels to heat and reduce iron ore to iron, producing large amounts of carbon emissions. The major Green Iron processes underway use renewable energy and hydrogen instead, resulting in significantly lower carbon emissions. These processes eliminate the need for coal in iron production, offering a sustainable steelmaking solution for the future.

Opportunities for South Australia

South Australia is in a unique position to benefit from these innovative technologies. The state has access to abundant renewable energy sources such as wind and solar power and the capacity to build even greater renewable energy capacity. Green Iron creates an opportunity for South Australia to diversify the state economy while reducing the carbon footprint of steel production.

South Australia has recognised the importance of green hydrogen and has developed a plan to establish the state as a leader in this field. The plan includes the construction of a massive hydrogen electrolyser, which will be one of the largest in the world. The South Australian government has stated that the project will:

enhance South Australia’s grid security, through new dispatchable generation
prove hydrogen production and generation technology at scale
help unlock a pipeline of renewable energy developments and associated manufactory opportunities
catalyse other hydrogen projects in development, including export-focused projects
support South Australia’s continued clean energy transition and decarbonisation.

Some uses could include fuel for transport, conversion to other green chemicals and exported to international markets and being utilised in manufacturing sustainable steel through green iron production.

The 250MW green hydrogen electrolyser which is set to be built in the Upper Spencer Gulf is expected to create over 2,000 jobs during construction and drive clean energy growth in the region.

Benefits of Green Iron

The Green Iron process offers several benefits, including:

Reduced Carbon Emissions: The use of renewable energy and green hydrogen to produce steel could decrease steelmaking process carbon emissions by over 90%, making these new process routes more sustainable and environmentally friendly alternatives to traditional steel-making processes.
Diversification of Economy: The Green Iron technologies offer an opportunity for South Australia to diversify its economy by creating new green product streams, industries and jobs. This would promote circular economy sustainable development for the state, Australia and the world.
Export Green Iron products: Making use of South Australia’s abundant renewable energy opportunities to produce green iron products will enable SA to export these products as feed inputs to other steel-producing nations that cannot create the green iron themselves and will significantly help reduce global emissions in-line with limiting global warming to 1.5°C.
Promotes a Clean Energy Future: By utilising renewable energy sources to produce heat and hydrogen, the Green Iron processes support the transition to a low-carbon economy and promote a cleaner and more sustainable future.

Renewable energy, green hydrogen production and the establishment of Green Iron production present an exciting opportunity for South Australia. By investing in clean energy solutions and sustainable green pathways to steel production, the State can drive economic growth by creating new industries while also reducing worldwide the carbon footprint of these industries. The government’s plan to build a hydrogen electrolyser and attract investment in these industries shows a commitment to a clean energy future and further positions South Australia and Australia as global leaders and superpowers in the zero-carbon economy.

Commercial / Page 4

ZEN has become a signatory to the global Equal by 30 initiative.

30 August 2023

Australia’s first 1.5° Energy Company signs up to Global Equal by 30 Initiative.

ABOUT MYTILINEOS

MYTILINEOS Energy & Metals, founded in Greece in 1990, is an industrial and energy multinational company, listed on the Athens Stock Exchange, with a consolidated turnover of €6.3 billion and EBITDA of €823 million and employs more than 5.442 direct and indirect employees in Greece and abroad. Through the Energy Sector, the company is strategically positioned at the forefront of the energy transition as an integrated “green” utility, while through the Metallurgy Sector the Company is establishing as a benchmark for competitive “green” metallurgy in the European landscape. Focused on sustainability, it has set a target to reduce CO2 emissions by at least 30% by 2030 and achieve by 2050 net zero carbon footprint in all its operations in accordance with ESG criteria for Environment, Society and Governance.

For more information, please visit: www.mytilineos.gr | Facebook | Twitter | YouTube | LinkedIn

Media Release

Commercial / Page 4

ZEN Volunteering Day at the Tauondi Aboriginal College

May 2023.

The Climate Change Bill in Australia

Australia’s Climate Change Bill is a significant milestone in the country’s fight against global warming, setting targets to reduce greenhouse gas emissions by at least 43% by 2030. Such achievement is a step forward, providing greater stability and investor confidence to the renewable energy sector, as the bill includes provisions for an independent Climate Change Authority to provide science-based policy advice, ensuring guidelines are formed on evidence-based data and not assumptions. This is a crucial development, as policymakers increasingly rely on scientific expertise when developing strategies.

The ZEN team volunteering at The Forktree Project in South Australia, contributing positively to the reduction of greenhouse gas emissions. We can all do our part as a community, but we also need bold actions from the government.

RELATED TOPIC

Commercial / Page 4

ZEN Volunteering Day at the Tauondi Aboriginal College

May 2023.

The Climate Change Bill in Australia

The ZEN team volunteering at The Forktree Project in South Australia, contributing positively to the reduction of greenhouse gas emissions. We can all do our part as a community, but we also need bold actions from the government.

RELATED TOPIC

Commercial / Page 4

ZEN Volunteering Day at the Tauondi Aboriginal College

May 2023.

The Climate Change Bill in Australia

The ZEN team volunteering at The Forktree Project in South Australia, contributing positively to the reduction of greenhouse gas emissions. We can all do our part as a community, but we also need bold actions from the government.

RELATED TOPIC

Commercial / Page 4

ZEN Volunteering Day at the Tauondi Aboriginal College

May 2023.

The Climate Change Bill in Australia

The ZEN team volunteering at The Forktree Project in South Australia, contributing positively to the reduction of greenhouse gas emissions. We can all do our part as a community, but we also need bold actions from the government.

RELATED TOPIC

Commercial / Page 4

ZEN has become a signatory to the global Equal by 30 initiative.

30 August 2023

Australia’s first 1.5° Energy Company signs up to Global Equal by 30 Initiative.

For more information, please visit: www.mytilineos.gr | Facebook | Twitter | YouTube | LinkedIn

Media Release

Industry: Commercial

ZEN has become a signatory to the global Equal by 30 initiative.

ZEN ENERGY RAMPS UP ITS GREEN IRON INITIAVE

ZEN Volunteering Day at the Tauondi Aboriginal College

KEY FACTS

A DAY OF GIVING BACK TO THE COMMUNITY

DOWNLOAD OUR RECONCILIATION ACTION PLAN

Read more about our journey to meaningful reconciliation with Australia’s indigenous people.

Green Iron: A Sustainable Steel-Making Process

Green Iron Process

Opportunities for South Australia

Benefits of Green Iron

ZEN has become a signatory to the global Equal by 30 initiative.

ZEN Volunteering Day at the Tauondi Aboriginal College

The ZEN team volunteering at The Forktree Project in South Australia, contributing positively to the reduction of greenhouse gas emissions. We can all do our part as a community, but we also need bold actions from the government.

ZEN Volunteering Day at the Tauondi Aboriginal College

The ZEN team volunteering at The Forktree Project in South Australia, contributing positively to the reduction of greenhouse gas emissions. We can all do our part as a community, but we also need bold actions from the government.

ZEN Volunteering Day at the Tauondi Aboriginal College

The ZEN team volunteering at The Forktree Project in South Australia, contributing positively to the reduction of greenhouse gas emissions. We can all do our part as a community, but we also need bold actions from the government.

ZEN Volunteering Day at the Tauondi Aboriginal College

The ZEN team volunteering at The Forktree Project in South Australia, contributing positively to the reduction of greenhouse gas emissions. We can all do our part as a community, but we also need bold actions from the government.

ZEN has become a signatory to the global Equal by 30 initiative.

ZEN has become a signatory to the global Equal by 30 initiative.

READ MORE

ZEN ENERGY RAMPS UP ITS GREEN IRON INITIAVE

READ MORE

ZEN Volunteering Day at the Tauondi Aboriginal College

KEY FACTS

A DAY OF GIVING BACK TO THE COMMUNITY

DOWNLOAD OUR RECONCILIATION ACTION PLAN

Read more about our journey to meaningful reconciliation with Australia’s indigenous people.

READ MORE

Green Iron: A Sustainable Steel-Making Process

Green Iron Process

Opportunities for South Australia

Benefits of Green Iron

READ MORE

ZEN has become a signatory to the global Equal by 30 initiative.

READ MORE

ZEN Volunteering Day at the Tauondi Aboriginal College

The ZEN team volunteering at The Forktree Project in South Australia, contributing positively to the reduction of greenhouse gas emissions. We can all do our part as a community, but we also need bold actions from the government.

READ MORE

ZEN Volunteering Day at the Tauondi Aboriginal College

The ZEN team volunteering at The Forktree Project in South Australia, contributing positively to the reduction of greenhouse gas emissions. We can all do our part as a community, but we also need bold actions from the government.

READ MORE

ZEN Volunteering Day at the Tauondi Aboriginal College

The ZEN team volunteering at The Forktree Project in South Australia, contributing positively to the reduction of greenhouse gas emissions. We can all do our part as a community, but we also need bold actions from the government.

READ MORE

ZEN Volunteering Day at the Tauondi Aboriginal College

The ZEN team volunteering at The Forktree Project in South Australia, contributing positively to the reduction of greenhouse gas emissions. We can all do our part as a community, but we also need bold actions from the government.

READ MORE

ZEN has become a signatory to the global Equal by 30 initiative.

READ MORE