Successful $2.2M Placement to Accelerte Exploration at Palma

❖ Firm commitments received to raise ~$2.26 million (before costs) via a placement to new and existing sophisticated and institutional investors at $0.049 per share ❖ Strong demand from high-quality existing and new sophisticated and institutional investors ❖ Alvo Directors have committed to subscribe for $60,000 in the Placement subject to shareholder approval ❖ Proceeds from the Placement will b