ECOGRAF LIMITED — AGM Information 2021

Nov 25, 2021

26 NOVEMBER 2021

ASX: EGR

AGM Investor Presentation

Diversified battery anode materials company EcoGraf Limited ( EcoGraf or the Company ) (ASX: EGR ; FSE: FMK ; OTCQX: ECGFF ) is pleased to release a copy of the AGM Investor Presentation to be provided by Andrew Spinks to shareholders at the Annual General Meeting to be held in Perth, Western Australia commencing at 10:00 am AWST today.

This announcement is authorised for release by Andrew Spinks, Managing Director.

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For further information, please contact:

INVESTORS

Andrew Spinks Managing Director T: +61 8 6424 9002

ENGINEERING CLEAN ENERGY

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EcoGraf Limited 18 Richardson Street West Perth WA 6005

ABN: 15 117 330 757 Managing Director E: info@ecograf.com.au Andrew Spinks www.ecograf.com.au T: +61 8 6424 9002

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26 November 2021

Annual General Meeting - Presentation and Business Update

ASX: EGR FSE: FMK OTCQX: ECGFF

Disclaimer

Securities Disclaimer

This presentation is for informational purposes only and does not constitute an offer to sell, or solicit to purchase, any securities. Such offer can be made only through proper subscription documentation and only to investors meeting strict suitability requirements. Any failure to comply with these restrictions may constitute a violation of applicable securities laws.

Forward looking statements

Various statements in this document constitute statements relating to intentions, future acts and events. Such statements are generally classified as “forward looking statements” and involve known and unknown risks, uncertainties and other important factors that could cause those future acts, events and circumstances to differ materially from what is presented or implicitly portrayed herein. The Company gives no assurances that the anticipated results, performance or achievements expressed or implied in these forward-looking statements will be achieved.

Production targets and financial information

Information in relation to the feasibility study conducted on the production of battery graphite using the Company’s EcoGraf technology, including production targets and forecast financial information derived from the production targets, included in this document is extracted from an ASX announcement dated 5 December 2017 “Battery Graphite Pilot Plant”, as updated on 17 April 2019 “EcoGraf Delivers Downstream Development” and 5 November 2020 “Completion of EcoGraf™Processing Facility Development Report”, available at www.ecograf.com.au and www.asx.com.au. The Company confirms that all material assumptions underpinning the production targets and forecast financial information derived from the production targets set out in the announcement released on 5 December 2017, as updated on 17 April 2019 and 5 November 2020 continue to apply and have not materially changed.

Information in this document relating to the Bankable Feasibility Study conducted on the Epanko Graphite Project, including production targets and forecast financial information derived from the production targets, included in this document is extracted from an ASX announcement dated 21 June 2017 “Updated Bankable Feasibility Study” available at www.ecograf.com.au and www.asx.com.au. The Company confirms that all material assumptions underpinning the production targets and forecast financial information derived from the production targets set out in the announcement released on 21 June 2017 continue to apply and have not materially changed.

Competent persons

Any information in this document that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Andrew Spinks, who is a Member of the Australasian Institute of Mining and Metallurgy included in a list promulgated by the ASX from time to time. Andrew Spinks is a director of EcoGraf Limited and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Andrew Spinks consents to the inclusion in this document of the matters based on his information in the form and context in which it appears.

Information in this document that relates to Mineral Resources is based on information compiled by Mr David Williams, a Competent Person, who is a Member of the Australasian Institute of Mining and Metallurgy. David Williams is employed by CSA Global Pty Ltd, an independent consulting company and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. David Williams consents to the inclusion in this document of the matters based on his information in the form and context in which it appears.

Information in this document that relates to Ore Reserves has been compiled by Mr Steve O'Grady, who is a Member of the Australasian Institute of Mining and Metallurgy. Steve O’Grady is a full-time employee of Intermine Engineering and produced the Mining Reserve estimate based on data and geological information supplied by Mr Williams. Mr O'Grady has sufficient experience which is relevant to the estimation, assessment and evaluation of the economic extraction of the Ore Reserve that he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Steve O'Grady consents to the inclusion in this document of the matters based on his information in the form and context in which it appears.

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DIVERSIFIED BATTERY

ANODE MATERIAL BUSINESS

SUPPORTING THE GLOBAL TRANSITION TO CLEAN ENERGY AND E-MOBILITY

TANZANIAN GRAPHITE PROJECTS

Scalable mining projects for long-term supply of natural graphite products

BATTERY ANODE MATERIAL

Western Australia and Europe battery anode material processing facilities

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PRODUCT DEVELOPMENT & INNOVATION

Products to support new technologies and increase material value

LITHIUM-ION BATTERY RECYCLING

Recovery of carbon anode material from lithium-ion batteries

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= Purification process eliminates Hydrofluoric (HF) Acid

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2021 Achievements .

KEY HIGHLIGHTS FROM A TRANSFORMATIONAL YEAR

Australian Battery Anode Material Facility

• • POSCO enters into battery anode material agreement
• • ‘Major Project Status’ awarded by the Australian Government
• • Letter of support received from Export Finance Australia for expansion loan of up to US$35m
• • Successful completion of pre-construction locked-cycle purification testing and commercial scale mechanical shaping program
• • GR Engineering finalising pre-construction early works for equipment selection, procurement, site infrastructure and services
• • Preparation underway of submissions for Government Development and Works Approvals

European Battery Anode Material Facility

• • Site selection activities conducted on several locations in Europe for a second facility
• • Land reservation agreement signed for an industrial site in Sweden

Tanzanian Graphite Project

• • New Tanzanian President implementing reforms to encourage mining investment
• • Positive progress on US$60m debt financing arrangements

Lithium-ion Battery Recycling Business

• • Outstanding results achieved of up to 99.98% carbon, in line with major lithium-ion battery manufacturer specifications
• • SungEel recycling agreement
• • EU Commission announces sweeping legislative changes to increase battery recycling
• • Engineering completed for US$4.5m modular recycling pilot plant

Product Development & Innovation

• • International Patent Examiner confirms EcoGraf™ HFfree purification process novel and inventive
• • Successful completion of product qualification program, outperforming reference material
• • Global bi-product development programs commenced for production of new SuperBAM, GreenRECARB and hpFINES products
• • Innovative Lithium-ion Battery Coatings Program Commenced

Corporate

• • Successful A$54.6m capital raising
• • Commenced trading on the US OTCQX market
• • Recruitment of experienced personnel to lead project and product development programs

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GROWTH PROSPECTS ARE GLOBAL

• • Financial advisors appointed

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2022 Outlook .

CHARGING AHEAD

TANZANIAN GRAPHITE PROJECT

• ❑ Finalise Epanko project debt financing for stage 1 – 60,000tpa

EUROPEAN BATTERYANODE MATERIAL FACILITY

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Site evaluations for second 20,000tpa plant

AUSTRALIAN BATTERYANODE MATERIAL FACILITY

• ❑ 5ktpa plant construction

• ❑ Operational and production readiness

• ❑ Partnership and offtake arrangements

PRODUCT DEVELOPMENT & INNOVATION

• ❑ Global bi-product development programs commenced

• ❑ Innovative anode coatings program

• ❑ Partnerships and collaborations

LITHIUM-ION BATTERY RECYCLING

• ❑ Partnerships and collaboration

• ❑ Develop modular pilot plant

• ❑ Product evaluation and qualification

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Corporate summary

Board & Executive Management

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Chairman Managing Director
Robert Pett Andrew Spinks
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Director Chief Financal Officer
John Conidi Howard Rae
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Joint Company Executive Manager – Secretary Project Development Karen Logan Shaun O’Neill

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Executive Manager – Commercial Manager Product Development Marshall Hestelow Michael Chan

Business Locations

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Skellefteå
Industrial Site
Pilot Plant
German Office
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Epanko
Graphite
Project
Australian
Manufacturing Facility
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Major Shareholders (Top 20 = 55%) BNP Paribas Nominees 23.9% First Sentier Investors 8.6% Board & Management 7.5% Paradice Investment 5.1%

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Share Price
Shares on issue: 450m
Unlisted performance rights: 7.45m
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ASX : EGR Börse Frankfurt : FMK USA OTCQX : ECGFF Share price A$0.845 Market capitalisation A$380m Cash on hand 30 Sep A$51.4m

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Lithium-ion Battery Market, Pricing and EcoGraf Patent .

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Compelling market opportunity

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Lithium-ion battery chemistry

Graphite is the major raw material in lithium-ion batteries

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Lithium 17% Lithium 15% Lithium 16% Lithium 16% Lithium 11%
Nickel 29%
Nickel 43%
Nickel 68%
Nickel 73%
Other 83% Manganese 29%
Manganese 24%
Manganese 8%
Cobalt 27%
Cobalt 17% Cobalt 8% Cobalt 14%
Graphite Graphite Graphite Graphite Graphite
>95% >95% >95% >95% >95%
Silicon / other <5% Silicon / other <5% Silicon / other <5% Silicon / other <5% Silicon / other <5%
LFP NMC 111 NMC 532 NMC 811 NCA
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EcoGraf™provides a high quality, cost competitive alternative to existing battery anode material produced using toxic hydrofluoric (HF) acid

GRAPHITE DOMINATES LITHIUM-ION BATTERY ANODES

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European demand growth in 3 key regions Over 1,000 GWh/a lithium battery cell production capacity announced through to 2030

WESTERN EU R OPE	∑~55 GWh/a ∑~270 GWh/a	∑~55 GWh/a ∑~270 GWh/a	**∑~ **
UK
Germany
	∑~125 GWh/a
		h/a
France	∑~125 GW

				Norway ∑~70 GWh/a N OR THERN EU R OPE Sweden ∑~40 GWh/a EASTERN EU R OPE Poland ∑~65 GWh/a Hungary ∑~50 GWh/a Slovakia ∑~10 GWh/a Italy ∑~110 GWh/a
		∑~240 GWh/a

Location TBA

Source: Roland Berger July 2021 1 Estimate based on 100-200 m units of 21,700 cells

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POSCO Intl. enters into battery anode material agreement

is a major South Korean industrial group and leading battery anode manufacturer

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Highlights:

Intention to enter into a formal offtake agreement for the supply of EcoGraf™HF free battery anode material products from:

• Australian battery anode material facility

• Planned European facility

South Korean (SK) market to drive raw material demand:

• SK largest EV battery market outside China for battery minerals at 34.8%

• The three major SK battery manufacturers to invest US$35.3 billion over the next decade

Cooperation:

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China
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• Product development

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South
Korea
Japan
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• Battery anode recycling

• Development of EcoGraf’s vertically integrated battery anode material business

SUSTAINABLY PRODUCED ECOGRAF ™ HFFREE PRODUCTS TO SUPPORT POSCO’S BATTERY MATERIALS EXPANSION PLANS

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International patent examiner confirms process novel & inventive

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▪ International Examining Authority deems all 25 patent claims novel and inventive.

• Paves the way for grant of the patent

• Covers production of battery anode material and recycling

PROPRIETARY PURIFICATION PROCESS UNDERPINS PRODUCT DEVELOPMENT PROGRAMS IN BATTERY ANODE MATERIALS

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Multi-stage chemical purification, washing and filtration process that eliminates hydrofluoric acid

PURIFIED BATTERY ANODE MATERIAL

a ECO-FRIENDLY a COST EFFECTIVE a HIGH PURITY

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EU Commission battery ESG regulations

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New measures announced to promote sustainability

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P O L I C Y	E C O G R A F ’ S E S G A D VA N TA G E S
Responsible sourcing of raw materials	a EcoGraf™HF_free_proprietary purification process a Epanko developed under Equator Principles
CO2 footprint, performance and durability labelling	a EcoGraf™recycling capability a Renewable energy inputs into businesses a Implementing low impact mining methods
Traceability of Raw Materials	a Implementation of Block Chain technology
Recycling and establishing a circular economy	a EcoGraf™HFfree proprietary purification process eliminates use of toxic hydrofluoric acid a EcoGraf™recycling enables customers to achieve improved recycling efficiencies

EcoGraf’s sector leading ESG credentials are matched to support the global transition to clean energy

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EIB new energy lending policy supporting projects relating to the supply of critical raw materials

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Market and pricing outlook

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GRAPHITE PRICES UP 16% LAST QUARTER

FORECAST BATTERY MARKET GROWTH OF 30%PA TO 2030

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DEVELOPMENT READY

Battery Anode Material Business .

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>60% YIELD

MAXIMISE EFFICIENCY AND PROFITABILITY

75% WATER TO BE REUSED IN OPERATION

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Battery graphite business summary

STATE-OF-THE-ART FACILITY TO DELIVER HIGH QUALITY, SUSTAINABLY PRODUCED HF-FREE BATTERY ANODE MATERIAL PRODUCTS

Initial commercial production plant commencing at 5,000tpa and expanding to 20,000tpa

• EcoGraf™ proprietary purification process eliminates the use of toxic hydrofluoric (HF) acid

• Feasibility and engineering studies completed by GR Engineering

• Four years of pilot plant test work undertaken in Germany:

• ➢ Successful application of EcoGraf™purification process to a range of global feedstock supplies

• ➢ Long-term feedstock agreement with leading German trading group TECHNOGRAFIT GmbH

• ➢ Extensive product testing completed and sales arrangements via thyssenkrupp AG

• ➢ POSCO enter into battery anode material agreement to support their battery materials expansion plans

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ECOGRAF’S FIRST FACILITY TO MEET HIGH GROWTH GLOBAL BATTERY DEMAND

Financial returns @ 20,000tpa	Financial returns @ 20,000tpa	Financial returns @ 20,000tpa
Pre-tax project NPV8	Pre-tax equity NPV8	Annual EBITDA	IRR
US$642m	US$448m	US$35m	42.4%

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Refer ASX announcement dated 5[th] November 2020

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Western Australia: Kwinana-Rockingham battery minerals developments Globally recognised location for processing of battery minerals

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BATTERY ANODE FACILITY IS
COMPLEMENTARY TO THE
CATHODE DEVELOPMENTS
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Western Australian battery anode materials processing facility

CURRENT STATUS

• Development awarded Australian Government Major Project Status and Lead Agency support from the WA State Government

• Export Finance Australia support received for US$35m expansion loan

• Pre-construction works in progress to provide data for detailed engineering design and EPC procurement programs

• Adoption of a zero-waste operating strategy

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• Finalising regulatory approval submissions, site infrastructure and power, water, gas and reagent procurement arrangements

• Recruitment of experienced professionals to support the construction and operational commissioning programs

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Western Australian battery anode materials processing facility

IMMEDIATE NEXT STEPS

• Site layout and design for 5,000 tonnes per annum plant optimised to extract maximum efficiency

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• Project schedule de-risked with procurement activities focused on securing long lead items of plant & equipment

• Approvals processes well advanced covering environmental, health and safety planning for construction and operations phases. Facility is located in an established strategic industrial zone.

The new state-of-the-art processing facility will incorporate the Company’s proprietary EcoGraf™ HFfree purification technology to manufacture 20,000tpa spherical graphite for the lithium-ion battery market.

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UNDER DEVELOPMENT

Product Development and Innovation .

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Sustainability focus and product development initiatives

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~~BATTERY ANODE MATERIAL PRODUCTS~~

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Main Product Secondary Product Product Development of Bi-Product Fines
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END USE

MARKET SIZE

GROWTH

VALUE

INDUSTRY /CUSTOMERS

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LUBRICANTS, THERMAL
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ELECTRIC VEHICLES, HYBRID CARS/ POWER TOOLS CAST & GREY CAST STEEL AA, AAA, Li-ION CEM LUBRICANTS, THERMAL STORAGE PACK & 3C APPLICATION FOUNDRY/EAF FURNACE CATHODE & CAN COATING EFFICIENT AND FIRE FUEL CELLS RESISTIVITY MATERIALS MEDIUM MEDIUM VERY HIGH LOW LOW VERY HIGH VERY HIGH MEDIUMLOW MEDIUM LOW HIGH VERY HIGH LOW VERY HIGH HIGH BATTERY , CHEMICAL BATTERY AND CHEMICAL ELECTRIC VEHICLES ELECTRIC VEHICLES STEEL/ GREEN STEEL MANUFACTURING MANUFACTURING

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Western Australia: Kwinana-Rockingham hydrogen developments Planning commenced for new hydrogen clean energy developments

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Green hydrogen fuel cell requires ecoCEM

Hydrogen fuel cell – bipolar plates

• Bipolar plates are a key component for fuel cells

• The bipolar plates that distribute fuel inside the cell require graphite

• Graphite is used as an ultra-thin coating on the bipolar plates of the hydrogen cell to improve charge/discharge efficiency

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RAW MATERIAL FOR = GREEN ENERGY

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Targeting large transportation vessels and high efficiency stationary energy plants

HYDROGEN FUEL-CELL

High value market and significant opportunity to participate in the Green Hydrogen sector.

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H2
Bipolar plates
O2
H2
ANODE (-)
H2O
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CATHODE (+)
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Innovative battery anode coatings program

Development of an enhanced coating technology to improve battery performance using FYI HPA and EcoGraf™battery anode material

• Testwork being undertaken with a leading US commercial battery material research facility

• Program includes evaluation of electrochemical performance of industry standard coated SPG, EcoGraf ™ coated SPG and enhanced HPA coated SPG in CR2016 coin cells

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CR2016 Coin Cell
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Coated anode prices range between US$6,000 and US$10,000 per tonne

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Future vision for lithium-ion battery manufacturing in Australia Significant economic opportunity from anode manufacturing by leveraging EcoGraf’s Australian development

Indirect economic benefits from battery material manufacturing are estimated to be 3 times higher than goods sold at all stages of the value chain

Referenced from Jared Ford, CSIRO Webinar Presentation 2021

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Global expansion strategy for EcoGraf’s battery anode business Supply of sustainably produced HF free battery anode materials to key growth markets

Existing Locations Potential Site Location Evaluations

Potential additional site locations under evaluation Sweden Reservation agreement signed with the Skellefteå municipality for a 65,000m[2] site Germany Working with GTAI on short-listing of sites France French Gov’t agencies’ introduction to potential industry partners India Introduction to potential industry partners via Austrade/DFAT

Current battery anode materials supply chain is 100% reliant on China. Strategy to expand production and regionalise additional manufacturing facilities in Europe, Asia and the US to support high growth battery anode markets.

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DEVELOPMENT READY

Natural Flake . Graphite Business

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US$44.5M ANNUAL EBITDA

60,000TPA NATURAL FLAKE GRAPHITE

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Natural graphite business summary

• Defined, De-risked Bankable Feasibility Study completed by and Ready For GR Engineering Services Construction

• Bank appointed Independent Engineer’s Review completed by SRK Consulting

• Supporting Tanzania’s industrialisation strategy

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• Granted Mining Licence

Sector Leading Equator Principles development model, ESG Credentials satisfying:

• International Finance Corporation Performance Standards

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• World Bank Group Environmental, Health & Safety Guidelines

Scalable 60,000tpa initial development with low cost Production Plant expansion to meet market demand

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Sales Agreements thyssenkrupp (Germany) with Major and Sojitz Corporation (Japan) International Customers

Capital investment

LONG LIFE EPANKO GRAPHITE MINE TO 60,000tpa SUPPLY INDUSTRIAL AND BATTERY MARKETS US$89m

Financial returns @ 60,000tpa Pre-tax project Annual IRR NPV EBITDA 10 US$211m US$44.5m 38.9%

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Refer ASX announcement dated 21 June 2017

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Significant contribution to Tanzanian economy

US$3+ BILLION

direct contribution to the economy over 40+ years through local procurement of goods and services, employment, royalties, taxes, interest income, dividends and inspection fees

300 TANZANIANS

to be directly employed (over 95% of all staff) for 40+ years 4,500 indirect jobs + new industry

COMMUNITY DEVELOPMENT

via new housing, school, Church, medical dispensary, health insurance, training and positive engagement to build lasting social partnerships

• Transforming financial and social upliftment for the Mahenge region

• Strong multiplier effect across the economy, with an estimated US$9+ billion additional indirect economic benefits over 40 years

• New manufacturing industry

EPANKO STANDARDS

to operate under International Finance Corporation - Equator Principles opportunity to support further manufacturing industries

RENEWABLE ENERGY

estimated to increase from 25% to 65% by 2050 opportunity for graphite in solar panel batteries to power remote villages

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High quality graphite deposit with scale

• Mineral Resource supports potential for depth and strike extensions of the Ore Reserve pit shells

• Mineralisation commences at surface with minimal cover

• Average LOM strip ratio 0.4:1

• Favourable mineralogy delivers quality and drives robust project economics

• High proportion of large flake sizes

• Graphite easily liberated and delivers high yield

• Higher carbon grade achieved through simple processing

• Low levels of in-situ deleterious elements

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Epanko Mineral Resource estimate >8% TGC

JORC classification	Tonnage (Mt)	Contained graphite (t)
Measured	7.5	738,900
Indicated	12.8	1,280,000
Inferred	10.4	1,030,600
Total	30.7	3,049,500

Refer ASX announcement dated 21 June 2017

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Epanko drill core rock texture
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Epanko rocks have undergone extremely high metamorphic pressure and temperature forces that have created unique ‘cheetah’ like rock textures

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EcoGraf provides mine-to-market ESG supply chain assurance

• EcoGraf’s Epanko mine development satisfies Equator Principles social and environmental planning standards

• Long-life, high quality supply of natural flake graphite for industrial and battery markets

• Ideally located to support European customers’ supply chain management under the Paris Agreement on climate change

• German and Australian Government funding support

Epanko to transform the regional economy, operating for over 40 years and contributing over US$3 billion to Tanzanian economic and social development

• US$60m debt funding proposal developed in conjunction with Germany’s KfW IPEX-Bank

• Recent initiatives by the Government of Tanzania to encourage greater foreign investment will support the project development program

>40 YEARS

OF MINE OPERATION

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US$3B

DIRECT CONTRIBUTION TO TANZANIA

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PILOT SCALE READY

Lithium-ion Battery . Recycling Business

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Battery recycling

Market Overview

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Recycling efforts have focused on cathode metals

Carbon anode materials are currently not recovered

Carbon material which is a waste product PRODUCTION generated from each stage of battery anode SCRAP manufacturing, cell manufacturing and battery testing

Carbon material remaining after BLACK hydrometallurgical processes have recovered MASS the high value cathode metals from end-of-life lithium-ion batteries

Benefits and Opportunity

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Reducing battery production costs

Lowering the EV carbon footprint

EU legislation to require more battery recycling and greater transparency in the raw materials supply chain

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EcoGraf positioned to recover and reuse carbon anode material

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Agreement signed with South Korea’s largest lithium-ion battery recycling group SungEel HiTech

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EcoGraf™recycling results using production scrap feedstock

KEY SPECIFICATION OUTCOMES

	Physical		Chemical
ment, with the EcoGraf™			Carbon Content (LOI)	99.98%
upgrading carbon and	d10	7.7 micron	Al	<5 ppm
to minimum levels, whilst al physical characteristics	d50	15.9 micron	Ca	<15 ppm
with major lithium-ion	d90	29.1 micron	Cr	<1 ppm
er specification			Cu	<15 ppm
ode material	Tap Density	0.99+/-0.01 g/mL	Fe	<10 ppm
			Ni	<5 ppm
			S	<10 ppm
RECYCLED LITHIUM-ION BATTERY			Si	<10 ppm

Significant achievement, with the EcoGraf™ purification process upgrading carbon and reducing impurities to minimum levels, whilst retaining the original physical characteristics Results are in line with major lithium-ion battery manufacturer specification requirements for anode material

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RECYCLED LITHIUM-ION BATTERY ANODE MATERIAL ACHIEVES

99.98%C

35

Recycling strategy for recovered anode material

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Prioritising high value natural and synthetic industrial applications for reuse of carbon anode material in industrial applications.

36

Next steps - modular recycling pilot plant

Key features:

• Capacity of 50-100kg/hr

• Capital cost US$4.5m

• State-of-the-art-facility utilising EcoGraf™HF free purification process with design providing location flexibility

• Design criteria based on operating at the highest environmental standards and providing process flowsheet flexibility to evaluate various feedstocks

• Plant to provide tailored customer solutions to support new EU battery legislation for increased recycling

• Recycling of the carbon anode material to lower battery costs and reduce CO2 footprint

50-100KG/HR

TREATMENT RATE

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37

Growth Strategy, Value Proposition and Outlook .

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38

DIVERSIFIED BATTERY ANODE MATERIAL BUSINESS SUPPORTING THE GLOBAL TRANSITION TO CLEAN ENERGY AND E-MOBILITY

a Over 8 years of technical work programs and extensive product qualification with a range of potential customers

a Bank due diligence processes undertaken with rigorous reviews of technical and engineering studies

a Product sales and collaboration with market leading counterparties

a Production levels matched to market demand with engineering designs to allow rapid expansion

a Sector leading ESG Credentials

a Downstream processing strategy centered on producing purified spherical graphite for a market forecast to grow 15x over the next decade

a Diversified battery anode materials business positioned to support recent EU legislative changes on sustainability

a Lithium-ion battery recycling business provides the opportunity to lower battery production costs and reduce carbon emissions from EV manufacturing

a Strategy to expand production and regionalise additional facilities in Europe, Asia and the US to support increasing demand

a Planning initiated on 2[nd] plant in Europe

a On-going research and innovation to identify further value adding opportunities using the EcoGraf™ purification process

• a International Patent Examiner confirms process novel and inventive

• a Blended battery anode material provides a unique eco-friendly product

39

EcoGraf’s vertically integrated product flow

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----- Start of picture text -----

C LOSED LOOP
RECYCLING
Production Scrap
Global Graphite Feedstock
Lithium-ion Battery Lithium-ion Battery
Battery Anode Manufacturing Anode Recycling Plant
Material Facility
Epanko Graphite Project
R E -USE M AR K ET
Natural + Synthetic
Applications
Industrial Applications
and Alkaline Batteries Electric Vehicles
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40

Value proposition

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BATTERY ANODE MATERIAL FACILITY

• 20,000tpa battery graphite

• US$35m annual EBITDA

• 42.4% internal rate of return

• US$642m pre-tax project NPV8

• • US$448m pre-tax equity NPV8 and payback of ~3.3yrs

Diversified battery anode material business positioned for the global transition to clean energy

EPANKO NATURAL GRAPHITE PROJECT

• 60,000tpa natural flake graphite + US$44.5m annual EBITDA

• 38.9% internal rate of return +

• US$211m pre-tax equity NPV10

• US$3bn forecast contribution to Tanzania

Development ready businesses forecast to generate US$80m EBITDA per annum

+

RECYCLING OF CARBON ANODE MATERIAL

• Significant results 99.98%C

• Production scrap – large market + Lower battery costs and emissions + Blended anode material opportunity + Modular recycling pilot plant

Proprietary EcoGraf™purification technology provides sector leading ESG credentials with application to battery recycling industry

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THE FUTURE IS ELECTRIC

NATURAL GRAPHITE BATTERY ANODE MATERIAL LITHIUM-ION BATTERY RECYCLING PRODUCT DEVELOPMENT & INNOVATION

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18 Richardson Street West Perth, WA 6005 www.ecograf.com.au

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