AUSTRALIAN GOVERNMENT ADDS PHOSPHORUS TO STRATEGIC MINERALS

NEWS RELEASE 23-32 December 18, 2023 AUSTRALIAN GOVERNMENT ADDS PHOSPHORUS TO STRATEGIC MINERALS LIST WELLINGTON New Zealand Chatham Rock Phosphate Limited ("CRP" or the "Company") (TSXV: "NZP", NZX: "CRP" FSE "3GRE") is pleased to advise that phosphorus has been added to the Australian Government's Strategic Minerals List. With our Korella Phosphate Project comprising Korella North ML100379 and Korella South EPM 28187, the addition of phosphorus to the Australian Strategic Minerals List provides further impetus to the Company's activities. Korella phosphate has been tested using an ore-sorter to produce phosphate with specific characteristics required in the production of yellow phosphorus. Yellow phosphorus is then used for production of thermal grade phosphoric acid used in manufacture of Lithium-Iron- Phosphorus batteries. The new Australian Strategic Materials List contains minerals: o that are important for the global transition to net zero and broader strategic applications, specifically the priority technologies set out in the Critical Minerals Strategy o for which Australia has geological potential for resources o in demand from our strategic international partners. The Strategic Materials List signals the government's support for their continued development and consists of 6 minerals: o copper o nickel o aluminium o phosphorous o tin o zinc. As the next step, the Australian Government plans to scope the creation of Strategic Critical Minerals Hubs around the country. This announcement, made on 16th December 2023 by Australian Minister for Resources and Northern Australia Madeleine King, said the changes followed extensive consultation with industry, the public, and states and territories, and would support Australia's growth as a major exporter of clean energy materials. "The updated Critical Minerals List and the new list of Strategic Materials will help the government focus on those commodities needed to create jobs, keep us secure and power our economy," Minister King said. These minerals are critical to the greening of our economy and the defence of Australia and our allies. The Critical Minerals List and Strategic Minerals List will be updated on an as-needed basis, as economic and geostrategic dynamics evolve. Australian copper, nickel, aluminium, phosphorous, tin and zinc will be vital to the world's energy transition, which is why for the first time ever we have articulated their economic and strategic importance by creating the new Strategic Minerals List. Australia is well placed to meet increasing global demand for minerals, with large endowments, technical expertise and established resources supply chains," Minister King said. This announcement underlines the long-term strategic value of CRP's commitment to become a supplier of phosphate into not only for the Australian agricultural sector but also to the market for high grade phosphate rock used in the production of yellow phosphorus and thermal grade phosphoric acid used in LFP batteries. For further information please contact: Chris Castle President and Chief Executive Officer Chatham Rock Phosphate Limited 64 21 55 81 85, chris@widespread.co.nz or chris@crpl.co.nz Neither the Exchange, its Regulation Service Provider (as that term is defined under the policies of the Exchange), or New Zealand Exchange Limited has in any way passed upon the merits of the Transaction and associated transactions, and has neither approved nor disapproved of the contents of this press release. End CA:00423804 For:CRP Type:GENERAL Time:2023-12-19 14:59:18