Pala Investments Launches New Energy Metals Fund

ZUG, Switzerland–(BUSINESS WIRE)–Pala Investments (“Pala”), a multi-strategy investment company
focused on the mining and metals value chain, is pleased to announce the
launch of Pala New Energy Metals, an investment fund dedicated
exclusively to investing in raw materials critical to the energy storage
and clean energy value chains.

The Fund

Pala New Energy Metals, which is launched with initial capital of US$150
million, has a mandate to invest in projects and businesses that provide
leverage to the shift in the global energy mix, facilitated by advances
in battery technologies and their industrial applications.

Mandate

Pala New Energy Metals will have flexibility to invest across the
capital structure, and will seek to invest in opportunities that include:

• Financing the development and production of battery metals as well as
  other minerals critical to renewable and energy-efficient technologies;
• Physical holdings of associated metals and intermediate products in
  the value chains for these industries;
• Actively managed holdings in associated equities and credit; and
• Investing in non-extractive businesses supplying the battery and
  renewables industries, including processing and recycling.

Commenting on the launch of Pala New Energy Metals, Stephen Gill,
Managing Partner of Pala, said:

“We are excited to launch a platform dedicated to investing across
the battery and new energy space. We see the potential for a shift in
the industrial economy that is both pervasive and long-lived. We believe
raw material supply is not sufficient to meet projected needs over the
next decade as a result of strong demand for electric vehicles, grid
storage, renewables, and energy-efficient manufacturing technologies.

We believe these industrial shifts will result in changing supply and
demand dynamics across a range of raw materials, which will provide for
attractive investment opportunities going forward. Pala New Energy
Metals’ flexible platform will enable us capture unique investment
opportunities across asset classes and materials.”

Pala has a proven track record of successfully investing across a range
businesses providing raw materials to the battery and renewable energy
sectors, including its investments in cobalt, lithium, rare earths, tin,
nickel, copper and processing businesses.

Recent investments include:

• the C$200m public offering of Cobalt 27, a dedicated cobalt streaming
  company;
• the US$110m debt financing of Altura Mining Limited, an Australian
  mining company developing the Pilangoora lithium mine in Australia;
• a number of physical and derivative commodity holdings in new energy
  metals; and
• an actively managed portfolio of new energy-related equities and bonds.

About Pala

Pala is a multi-strategy investment company focused on the mining and
metals value chain with a strong track record of successful investments
and value creation. Pala’s team has extensive experience within the
sector and seeks to assist companies in which it has long-term
shareholdings by providing strategic advice and innovative solutions in
development, production, expansion and turnaround situations. Pala also
pursues a range of liquid investment strategies. Pala invests across all
geographies and in all mining commodities as well as mining services and
consumables. For more information, visit www.pala.com.

Contacts

Pala Investments
Stephen Gill
Tel: +41 41 560 9070