Merrill Gray joins Hexagon board as Stedwell steps down

Merrill Gray joins Hexagon board as Justyn Stedwell steps down

SYDNEY, AUSTRALIA: Hexagon Energy Materials Limited notified that Mr. Justyn Stedwell has stepped down as a Non-Executive Director. Merrill Gray will join the board.

Mr. Stedwell joined the company in December 2020 to help oversee the integration of Ebony Energy.

Managing Director Merrill Gray who commenced work with the Company on 18 October 2021 and whose appointment to the role was announced on 4 October 2021, has joined the board.

Ms. Gray’s experience is ideally matched to the opportunities that Hexagon is now pursuing with
alternatives for its McIntosh Nickel project and progression through feasibility, approvals and into development of its Pedirka Hydrogen Project.

Merrill Gray has a track record in attracting private sector investment into new and emerging energy technologies and in the commercial scale up of new technologies and understands battery materials markets.

Her most recent role was as Executive Director of Lithium Australia NL’s Battery Materials business where she focussed on commercial scale global expansion. She has led companies in hydrogen and renewables and contributed strategically and operationally to value creation in well-known Nickel and Gold producers.

Ms. Gray’s combined Engineering, Science and Business backgrounds and extensive practical leadership, relevant industry technical knowledge and experience as an early mover in Hydrogen, significantly adds to the Hexagon team.

Ms. Gray founded and ASX listed a syngas (Synthesis gas) or gasification-based company in 2006. Over five years as CEO and Managing Director of that company, she raised capital and developed a portfolio of Hydrogen projects.

She then led spin-off company BioSyngas Limited, as CEO and Managing Director for four years.

During this time the Company developed utility scale embedded
baseload bio-energy projects supplying electricity and heat to industrial and commercial energy

Her experience brings strong insights into the challenges and the practicalities involved in
developing projects such as those within the Hexagon portfolio.

She is well known as a corporate adviser specialising in all types of Hydrogen, Renewable (Solar and Bio-energy in particular) and Hybrid project evaluations, spanning strategy, technology commercialisation, M&A and capital raising.

Ms Gray said: “I have worked with project developers and owners, investors, mid-
tier listed companies, start-ups as well as top 100 ASX listed companies in Hydrogen and I am
excited to bring my practical project development skills to Hexagon.

“As a past early mover in Hydrogen, and various derivative products, it is apparent that significant shifts have taken place over the past 5 years. I understand the important role that Pedirka could play and how much value could be created here.

“Hexagon’s focus is the practical, commercial, application of Hydrogen technologies at scale and the application of Carbon Capture and Storage (CCS) to decarbonise.

Hexagon’s projects and technologies have the potential to deliver a substantial volume of Hydrogen and contribute towards the nation’s clean hydrogen future.

“I am really looking forward to being part of the plan for Australia to reduce its energy emissions as well as supporting our energy customer countries’ efforts to decarbonise, building off Australia’s current position as the fourth largest global exporter of energy. There is so much to be achieved,” Ms Gray said.

Hexagon Energy Materials Limited (ASX: HXG) is an Australian company focused on the exploration and development of decarbonised energy and energy materials projects and on becoming part of the global Future Energy markets that are rapidly emerging.

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