24 Nov

Investor Update November 2021

1 Investor Update Nov 2021 www.deloreancorporation.com.au Australia’s future in bioenergy and renewables Important N otice & Disclaimer This document is confidential and may not be reproduced, redistributed or passed on, directly or indirectly . This document is neither a prospectus nor an offer to subscribe for Shares . The purpose of this presentation is to provide general information about Delorean Corporation Ltd (“Delorean” or the “Company”) . This presentation is current as at 23 November 2021 (unless otherwise stated herein) and the information contained in it is in a summary form and does not purport to be complete . The information in this presentation remains subject to change without notice . It is not recommended that any person makes any investment decision in relation to the Company based solely on this presentation . This presentation does not necessarily contain all information which maybe material to the making of a decision in relation to the Company . Any investor should make their own independent assessment and determination as to the Company’s prospects prior to making any investment decision and should not rely on the information in this presentation for that purpose . This presentation does not involve or imply a recommendation or a statement of opinion in respect of whether to buy, sell or hold securities in the Company . The securities issued by the Company are considered speculative and there is no guarantee that they will make a return on the capital invested, that dividends will be paid on the shares or that there will be an increase in the value of the shares in the future . This presentation is not, and does not constitute, an offer to sell, or the solicitation, invitation or recommendation of an offer to buy, any securities in any jurisdiction, including the United States, and neither this presentation, nor any of the information contained herein, shall form the basis of any contract or commitment . The information in the presentation does not constitute an advertisement for an offer or proposed offer of securities and does not constitute a representation that an offering will occur . No person is authorised to give information or make any representation that an offering will occur . Any securities of Delorean have not been, and will not be, registered under the U . S . Securities Act or the securities laws of any state or other jurisdiction of the United States and, if there is an offer of securities, may not be offered or sold in the United States except in transactions exempt from or not subject to, the registration requirements of the U . S . Securities Act and any other applicable securities laws . This presentation is presented for informational purposes only . It is not intended to be, and is not, a prospectus, product disclosure statement, offering memorandum or private placement memorandum for the purpose of Chapter 6 D of the Corporations Act 2001 . Except for statutory liability which cannot be excluded, the Company, its officers, employees and advisers expressly disclaim any responsibility for, and make no representations or warranty for, the accuracy or completeness of the material contained in this presentation and exclude all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any error or omission there from . The Company accepts no responsibility to update any person regarding any inaccuracy, omission or change in information in this presentation or any other information made available to a person nor any obligation to furnish the person with any further information . This presentation contains “forward - looking statements” and comments about future events, including statements about Delorean’s expectations about the performance of its business . Forward - looking statements may include words such as “anticipate”, “believe”, “expect”, “project”, “forecast”, “estimate”, “out - look”, “upside”, “likely”, “intend”, “should”, “could”, “may”, “target”, “plan”, and other similar expressions . Indications of, and guidance on, future earnings and financial position and performance are also forward - looking statements . Forward - looking statements, opinions and estimates provided in this presentation are based on assumptions and contingencies which are subject to change without notice . Forward - looking statements including projections, guidance on future earnings and estimates are provided as a general guide only and should not be relied upon as an indication, prediction or guarantee of future performance . Actual results may differ materially from those expressed or implied in such statements and these differences maybe material . The forward - looking statements in this presentation involve known and unknown risks and other factors, many of which are beyond the control of, or unknown to, Delorean, its directors, officers and employees, and may involve significant elements of subjective judgement and assumptions as to future events which may or may not be correct . Such forward looking statements are based on information available to Delorean as at the date of this presentation . Recipients are cautioned not to place undue reliance on forward looking statements and except as required by law or regulation, Delorean assumes no liability to update these forward - looking statements . Such statements speak only as of the date hereof, and Delorean has no obligation to update or revise any such statements to reflect any change in events, conditions or circumstances on which any such statement is based . No representation or warranty, express or implied, is made by the Company that the matters stated in this presentation will be achieved or prove to be correct . Recipients of this presentation must make their own investigations and inquiries regarding all assumptions, risks, uncertainties and contingencies which may affect the future operations of the Company or the Company’s securities . The Company does not purport to give financial or investment advice . No account has been taken of the objectives, financial situation or needs of any recipient of this document . Recipients of this document should carefully consider whether the securities issued by the Company are an appropriate investment for them in light of their personal circumstances, including their financial and taxation position . Disclaimer 2 3 Delorean Corporation Introduction Delorean Corporation (ASX: DEL) is a vertically integrated business operating in two high growth investment sectors – renewable energy and waste management. Delorean is leading the Australian market with commercial production of bioenergy and in - demand renewable gas. DEL continues to transition from a construction and energy retail business to an owner/operator model, generating increasingly consistent multiple revenue streams. 3 www.deloreancorporation.com.au Energy Retail Division Established energy retailer with licenses to operate in the national market. Infrastructure Division Infrastructure development and management of Delorean Corporation owned and operated bioenergy plants. Engineering Division EPC (1) and O&M (2) contractor that builds bioenergy facilities. (1) EPC: Engineering, procurement and construction (2) O&M: Operation and maintenance Vertically Integrated Renewable Energy Business 4 As part of Delorean’s ongoing commitment to be a leading vertically integrated renewable energy infrastructure business, all subsidiary companies have now become divisions of Delorean Corporation www.deloreancorporation.com.au Delorean Corporation Gentailer Business Overview 5 www.deloreancorporation.com.au Revenue Model • Develop, own, operate and monetise renewable energy infrastructure projects in Australia and New Zealand • DEL model benefits from multiple revenue streams 6 www.deloreancorporation.com.au Delorean Infrastructure Q1 Strategic Progress: Planum Partners Appointment • In August 2021, Delorean appointed Planum Partners Pty Ltd as Financial Advisor to arrange funding for its current and future development pipeline. • Planum’s mandate will extend to financing strategies for up to $200M to support Delorean’s growth objectives. • Planum is a leading Australasian advisor focused on delivering capital solutions in renewable energy, social infrastructure, and real estate. 7 AGIG Collaboration • In September 2021, Delorean entered into an important collaboration agreement with Australian Gas Networks Limited. • Australian Gas Networks Limited is part of Australian Gas Infrastructure Group (AGIG) • AGIG is one of Australia’s largest gas infrastructure businesses, supplying approximately 2 million customers • Under the Memorandum of Understanding (MOU), DEL and AGIG have agreed to work towards establishing a mutually acceptable business model to develop, construct, own and operate anaerobic digestion plants to supply biomethane into AGIG gas networks, including offtake of biomethane for use by AGIG via an appropriate retailer www.deloreancorporation.com.au Landmark collaboration with Brickworks • Delorean Corporation has entered into a landmark collaboration agreement with Brickworks Building Products Pty Ltd (Brickworks Building Products) • Brickworks Building Products is a 100% owned subsidiary of Brickworks Limited (ASX:BKW, Market Cap $3.77B) • Under a Memorandum of Understanding (MOU) Delorean and Brickworks will undertake a feasibility study (and seek development approval) to build and operate bioenergy facilities converting organic waste to green gas and electricity, funded by Brickworks. • This green energy will be used to power Brickworks’ brick manufacturing operations, commencing with its NSW sites • The feasibility and development approval program is a staged process from concept to development through to Final Investment Decision. • Subject to the successful outcome of the feasibility study, Delorean and Brickworks intend to establish a 50/50 Joint Venture (or other commercial arrangement) to construct and operate the NSW bioenergy plant(s) • If successful, Brickworks and Delorean will consider a national rollout to other Brickworks operations across Australia 8 www.deloreancorporation.com.au Q2 Strategic Progress: Delorean Infrastructure Development Pipeline Delivering Future Value 2021 Project pipeline • ~ $500M of projects proposed / developed / in development • ~ $30M of Grant applications both federal and shire for proposed projects Three near - term development projects: • Delorean Energy Victoria Two (“DEV2”), • Delorean Energy Queensland One (“DEQO”) • Delorean Energy New South Wales One (“DENSWO”) Twelve early - stage development projects located across five states Undertaking feasibility work for plants in Victoria and New South Wales 9 Organics Market Across Australia Australia produces approximately 12.5M tonnes of Organic Waste (excluding agriculture and fishery) every year. 10 Western Australia – 1.2M tonnes/annum South Australia – 1.3M tonnes/annum Northern Territory – 0.1M tonnes/annum Queensland – 2.7M tonnes/annum New South Wales – 3.4M tonnes/annum Tasmania – 0.2M tonnes/annum Victoria – 3.2M tonnes/annum ACT – 0.4M tonnes/annum Source: 2018/19 data taken from the National Waste Database 2020 developed by the Australian Government’s Department of Agric ult ure, Water and the Environment The National Waste Database highlights an additional 28M tonnes /annum of organic waste is produced by the Agriculture and Fisheries industries nationally that is suitable for Bioenergy Project Updates Across Australia and New Zealand BLUE LAKE MILLING BIO E NERGY PLANT (BORDERTOWN) DELOREAN ENERGY QUEENSLAND ONE PROJECT (QLD) JANDAKOT BIOENERGY PLANT (WA) DELOREAN ENERGY VICTORIA TWO PROJECT (VIC) ECOGAS BIOENERGY PROJECT (REPOROA, NZ) EPC CONTRACTS COMPLETED PROJECTS DELOREAN’S CURRENT PROJECTS 2022 PIPELINE PROJECTS EPC Projects progressing with DEL - owned Project Development and Build Pipeline DELOREAN ENERGY VICTORIA ONE PROJECT (VIC) DELOREAN ENERGY SA ONE PROJECT (SA) 11 LONG - TERM DEVELOPMENT PIPELINE* QLD +2 NSW +3 VIC +2 TAS +1 WA +4 DELOREAN ENERGY NEW SOUTH WALES ONE *Indicative per State not geographically identified Delorean Infrastructure Pipeline Developed As of 2021 ~ $31M grants applied for both State and Federal across Australia 12 Projects Grants ~ $500M proposed projects in early - stage engagement / feasibility / development / construction Biogas Waste 135 Million m 3 /annum of biogas generated on site for either 2.8 Million MWH/annum of Green Electricity and heat or 3.1Million GJ/annum of Green Biomethane (RNG) 1.5 Million t/annum of organic waste to be captured and processed diverting from landfill and other emission outputting process Emissions 1.6 Million tCO 2 - e/annum abated through diversion of organics from landfill and production of green energy to displace fossil fuels.* * Calculations based on the Carbon Credits Methodology Determination 2016 developed by the Clean Energy Regulator. The calculat ion s assume all green energy is in the form of electricity. The Clean Energy Regulator is currently in the process of developing a new method for biomethane. Green Gas from Bioenergy Green gas commercially viable now 13 $6 - $12/GJ $8 - $14/GJ $40/GJ $16/GJ 0 5 10 15 20 25 30 35 40 45 F O S S I L F U E L G R E E N B I O M E T H A N E F R O M B I O E N E R G Y 2 0 2 1 H Y D R O G E N $ 5 / K G 2 0 2 1 H Y D R O G E N $ 2 / K G ~ 2 0 2 7 EQUIVALENT OF GAS $/GJ References: Australian Energy Regulator: https://www.aer.gov.au/wholesale - markets/wholesale - statistics/gas - market - prices PWC and World Energy Council: https://www.pwc.com/gx/en/industries/energy - utilities - resources/future - energy/green - hydrogen - cost.html Green gas commercially viable now 14 www.deloreancorporation.com.au ARENA NSW GOVERNMENT QLD GOVERNMENT CLEAN ENERGY FUTURE FUND SUSTAINABILITY VICTORIA There is strong support for greener energy projects across Australia, with state governments and other organisations providing grants and funding for renewable energy. Funding and Support for Clean BioEnergy Federal and State Support Australia’s Bioenergy Roadmap – Nov 2021 15 www.deloreancorporation.com.au • The Australian Government’s recently released Bioenergy Roadmap Report is expected to deliver immediate commercial benefits and opportunities for Delorean, including potential access to an initial $ 33 m of ARENA funding committed to the roadmap initiatives • The Bioenergy Roadmap sets out a public/private partnership framework underpinned by a series of targeted initiatives within the 2021 - 2030 horizon, most of which are directly relevant to the growth of Delorean’s business . • The report models that by 2030 , 33 % of industrial heat, 23 % of pipeline gas, and 8 % of utility - scale/small - scale electricity generation could come from bioenergy infrastructure . Based on this modelling Australia’s bioenergy sector could contribute to around $ 10 billion in extra GDP per annum . • As the only ASX - listed company focussed on production of mains - grade biomethane , Delorean welcomes the Roadmap’s policy focus on renewable pipeline gas . Delorean Engineering Division Project Update 16 Blue Lake Milling (CBH Group) Bioenergy Plant Plant $7.6 M contract value Located in Bordertown, South Australia Current Status: • First gas has been achieved and grid connection established with grid export commissioned • Project has seen delays due to COVID and SA Power Network (SAPN) delays for connection • SAPN has now conducted a substation change over. Reconnection will occur once SAPN is back online. • Facility is undergoing ramp up now back on line with the grid Ecogas Bioenergy Project (Pioneer) ) $10.1M contract value Located in Reporoa , New Zealand Current Status: • General site works, backfilling and compaction are complete for site conduits. • Several major pieces of equipment have been delivered and are being installed on site. • Current shipping delays impacting program • Progress continues to track towards completion by Nov 2022 www.deloreancorporation.com.au Yarra Valley Water Waste to Energy Project • Delorean’s Engineering Division has been awarded Preferred Tenderer status for delivery of the Yarra Valley Water bioenergy facility • The Yarra Valley Water contract includes the design, build, operation and maintenance of a waste to energy facility at its Lilydale Sewage Treatment site in Victoria • Yarra Valley Water is the largest of three Victorian Government owned water corporations, serving over 2 million people and over 58,000 businesses in the northern and eastern suburbs of Melbourne. • This new facility will be one of the largest food waste to energy facilities of its kind in Victoria • Progression to contract award status is anticipated by end of December, 2021. • Project range is $40M - $50M . Once contract is executed, further information will be advised to the market • Initial build works are scheduled to commence late Q3 2022 and post project practical completion expected December 2023, at which time DEL will enter into an initial 2 - year O&M contract 17 www.deloreancorporation.com.au Delorean Engineering Division Preferred Tenderer status – Yarra Valley Water Delorean Infrastructure Division 18 Delorean Energy Victoria One Project (~$17.0M capex) Located in Stanhope, Victoria • 54,000TPA bioenergy facility (Stage 1) • Potential expansion to 71,300TPA in Stage 2 Current Status: • Site works commenced in July 2021 • Final Council approval was granted in October 2021 and construction is now underway Delorean Energy South Australia One Project (~$26.5M capex) Located in Salisbury, South Australia • 70,000TPA bioenergy facility • Potential expansion to 125,000TPA in Stage 2 Current Status: • Under development • Site works were started in September 2021 • FID anticipated February 2022 www.deloreancorporation.com.au Notes: CAPEX is inclusive of development costs and margin 19 Delorean Infrastructure Division Delorean Energy Queensland One Project (~$33M capex) • 90,000TPA bioenergy facility Current Status: • Project is under development and expected to be ready for FID mid - 2022 Delorean Energy Victoria Two Project ( ~$20M capex) • 70,000TPA bioenergy facility Current Status: • Project is under development and expected to be ready for FID mid - 2022 www.deloreancorporation.com.au 20 • This division has commenced rolling out a strategic plan to grow and consolidate in the WA retail market, recently winning large customers Hawaiian and Enviro Pipes in WA, while concurrently entering the National Electricity Market (NEM) • This division continues to execute its Distributed Energy Resource (DER) strategy • This DER Strategy will provide DEL with an asset base that supports waste to energy, whilst risk managing the Division’s retail position and ensuring access to new revenue opportunities • 2022 will see greater focus and activities in the market around DER strategy and managing our retail and wholesale positions Energy Retail Division Continued Growth in WA & Geographic Expansion Plans on Track Corporate & Capital Structure as at 23 November 2021 Capital Structure (as at 23 November 2021) Debt 0 Ordinary Shares on Issue 179,078,281 Options on Issue 20,250,000 Performance Shares 13,671,714 Approx. Market Cap @ $0.205 $36.7M Cash Balance $5.01M Share Price Low $0.185 Share Price High $0.435 Shareholders (as at 23 November 2021) Top 20 holding 74% of Issued Capital ~51% held by founders and board Notes: refer to prospectus for terms of options on issue and terms of performance shares 21 www.deloreancorporation.com.au Hamish Jolly Executive Chair & Co - Founder Hamish is a seasoned executive and holds a Bachelor of Business ( Business Law and Accounting ) and is a Member of the Institute of Chartered Accountants in Australia and New Zealand. He is a former Director of Strategy and Ventures at Bankwest, and former CEO of Greening Australia, one of Australia’s largest environmental NGO’s. David McArthur Non - Executive Director & Company Secretary David is a Chartered Accountant, with over 30 years’ experience. He recently has been on the board of Lodestar Minerals (LSR), Xstate Resources (XST) Harvest Technology (HTC), where he was chair of Audit and Risk Management Committee for all three. Strong Leadership Steve Gostlow Non - Executive Director Steve has over 20 years’ experience in the waste management industry. He was Managing Director of Tox Free Solutions Ltd (Toxfree) for 16 years where he developed Toxfree into one of Australia’s largest waste management companies. Steve has formal governance qualifications as a Graduate of the Australian Institute of Company Directors. Joe Oliver Managing Director & Co - Founder Joe has 15 years experience in engineering, power generation and renewable energy across both Australasia and Europe. Prior to Delorean, Joe worked for Edina ltd, specialised in power generation. Joe has been involved in developing the UK Anaerobic Digestion sector delivering over 10 facilities nationwide through both Farmgen Ltd and Monsal Ltd. 22 www.deloreancorporation.com.au www.deloreancorporation.com.au Investment Highlights • Continued strong tailwinds in renewable energy and waste management nationally • Multiple revenue streams from gate fees and sale of renewable gas, electricity, heat, biofertilizer • Early moving market leader in bioenergy sector • Baseload bioenergy output produces consistent energy supply, 24/7 • Ideally positioned to capitalise on National Waste Policy (to halve the amount of organic waste going to landfill by 2030) • Escalating landfill levies will increase revenue from gate fees • Delorean is uniquely positioned to service Australia’s immediate and growing demand for renewable gas and is already producing renewable gas at competitive prices • Current project portfolio under development and in pipeline $500 Million • Hydrogen ready with biomethane platform to produce green hydrogen • Continued transition to owner/operator model producing increasingly consistent revenue streams • Planum Partners mandated to provide financing strategies up to $200M

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