QUANTUM GRAPHITE LIMITED — Investor Presentation 2021

Dec 21, 2021

MARKET RELEASE For Immediate Release 22 December 2021

Joint Venture Partner Presentation Asia-Pacific Solar Research Conference

The Company's joint venture partner, Sunlands Co., recently presented at the Asia-Pacific Solar Research Conference. The conference provides a regional forum for communicating technology developments generally in solar related research and includes recent developments in thermal storage. A copy of the presentation is attached.

FOR FURTHER INFORMATION CONTACT:

Company Secretary Quantum Graphite Limited T: +61 3 8614 8414 E: info@qgraphite.com

Back to the Future

16 - 17 December 2021 SYDNEY

ARENA EXPRESSION OF INTEREST ACTIVITY PLAN The Challenges to an Emissions Free Grid

Community expectations, corporate ESG standards and government policy settings have set us on the path to decarbonisation. Here is the challenge...

• Renewables generation numbers - ~20% of NEM load
• ~35% of generation capacity
• ~2.4 million solar PV systems delivering ~10.7GW
• Factors slowing continued penetration of renewables:
• Operational and regulatory challenges associated with intermittency
• Low marginal value of despatch
• Most coal fired generators are within the final 7-15 years of end of technical life and solutions to replace loss of inertia and dispatchability remain illusive

Scalable Long Duration Energy Storage

The only thermal storage technology designed to drive utility scale steam turbine generators. With an operating temperature range of 670° Celsius to more than 2,000° Celsius our TES cells are uniquely capable of restoring baseload generation and critical inertia to grid networks.

ARENA EXPRESSION OF INTEREST ACTIVITY PLAN Key Technical Features

Simplicity of the Thermal Cycle

• a flake graphite based thermal storage media and heat transfer fluid that undergo no phase change
• conventional heat transfer with water to produce superheated steam
• variable steam delivery up to the thermal power plant's nameplate rate

ARENA EXPRESSION OF INTEREST ACTIVITY PLAN Key Technical Features

Superior Operational Control Superior Operational Control

• charging of TES cells is agnostic of power supply – any available power supply can be used to heat TES cells
• charging and discharging of TES cells can occur simultaneously
• no limit on number of annual/monthly/daily cycles
• seamless inertia and dispatchability

THE SUNLANDS CO. \ 04

ARENA EXPRESSION OF INTEREST ACTIVITY PLAN Economics and Sustainable Performance

• joint venture with Quantum Graphite Limited guarantees reliable supply of flake graphite free of the significant challenges associated with the increasing demand for this critical mineral and the more immediate global supply chain constraints
• negligible environmental footprint with every component recyclable at very low-cost utilising convention technologies
• safe operating environment, no requirement for complex safety systems
• round trip efficiency limited only by efficiency of prevailing turbine technology
• capable of supplying needs of sub critical, super critical and ultra-super critical turbines
• very long life, many times that of electric batteries
• unrivalled TES cell scalability, doubling storage hours is a fraction of the cost of comparable scaling of electric batteries

This presentation includes certain statements that may be deemed forward-looking statements. All statements ln these presentation materials (other than statements of historical facts) which address future production, revenues, activities and events or developments that the Company expects, are forward-looking statements. Such forward-looking statements may include, without limitation: (i) estimates of future prices, supply, demand and/or production; (ii) estimates of future cash costs; (iii) estimates of future capital expenditures; (iv) estimates regarding timing of future development, construction, production or closure activities; (v) statements regarding cost structure, project economics, or competitive position, and; (vi) statements comparing the Company's property, including intangibles, to other third party property.

Although the Company believes that such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, availability of raw materials, successor or otherwise of the market's acceptance of the Company's property, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance, that the Company expressly disclaims any responsibility for revising or expanding the forward looking statements to reflect actual results or developments, and that actual results or developments may differ materially from those projected, in the forward looking statements.

This presentation does not constitute a recommendation regarding the securities of the Company, and should not be construed as legal or financial advice. It has been prepared for information purposes only and contains general summary information and does not take into account the circumstances of any Individual investor. Prospective investors in the Company are encouraged to obtain separate and independent advice with regard to any investment in the Company. By accepting the presentation materials, the recipient agrees to keep permanently confidential the information contained herein.

The Company confirms that it is not aware of any new information or data that materially affects the information included in this announcement and that all material assumptions and technical parameters underpinning the estimates in this announcement continue to apply and have not materially changed.

Photographs, maps, charts, diagrams and schematic drawings appearing in this presentation are owned by and have been prepared by or commissioned by the Company, unless otherwise stated. Maps and diagrams used in the presentation are illustrative only and may not be drawn to scale. Unless otherwise stated, all data contained in charts, graphs and tables is based on information available at the date of this presentation. By accepting this presentation, the Recipient agrees to be bound by the foregoing statements.

The Sunlands Company Pty Ltd ABN 57 131 765 583

Level 5, 349 Collins Street Melbourne, Victoria, 3000, Australia T: +61 3 8614 8414 E: mail@sunlandsco.com