Eve Energy subsidiary receives partial loan repayment from joint venture

Huizhou Eve Energy Co., Ltd. (Eve Energy) announced that its wholly-owned subsidiary, Eve Asia Co., Ltd. (Eve Asia), received a partial repayment of $40 million in principal from its joint venture, Hwa Fei Nickel Cobalt (Indonesia) Co., Ltd. (Hwa Fei Nickel Cobalt). This repayment is part of a larger financial assistance package totaling $214.2 million, originally approved by Eve Energy's board in May 2021 to support the construction of a lateritic nickel-cobalt hydrometallurgical project.

The financial assistance, structured as a seven-year loan with an annual interest rate of 5%, was formalized through a shareholder loan agreement signed in July 2021. As of the disclosure date, Hwa Fei Nickel Cobalt has repaid the $40 million principal and interest amounting to $40,623,534.63, after deducting withholding tax.

Eve Energy stated that Hwa Fei Nickel Cobalt has fulfilled its obligations according to the agreement. This announcement updates previous disclosures regarding the financial assistance, with the latest repayment details publicly available.