26 Nov

Annual General Meeting Presentation

26 NOVEMBER 20 2 1 EcoGraf Limited 18 Richardson Street West Perth WA 6005 ABN: 15 117 330 757 E: info@ecograf.com.au www.ecograf.com.au Managing Director Andrew Spinks T: +61 8 6424 9002 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 a m A WS T today. This announcement is authorised for release by Andrew S pinks, Managing Director. For further information, please contact: INVESTORS Andrew Spinks Managing Director T: +61 8 6424 9002 ENGINEERING CLEAN ENERGY E N G I N E E R I N G C L E A N E N E R G Y z Annual General Meeting - Presentation and Business Update ASX: EGR FSE: FMK OTCQX: ECGFF 26 November 2021 2 2 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 . Disclaimer 3 DIVERSIFIED BATTERY ANODE MATERIAL BUSINESS = Purification process eliminates Hydrofluoric (HF) Acid Recovery of carbon anode material from lithium - ion batteries Scalable mining projects for long - term supply of natural graphite products LITHIUM - ION BATTERY RECYCLING TANZANIAN GRAPHITE PROJECTS SUPPORTING THE GLOBAL TRANSITION TO CLEAN ENERGY AND E - MOBILITY Western Australia and Europe battery anode material processing facilities BATTERY ANODE MATERIAL 3 Products to support new technologies and increase material value PRODUCT DEVELOPMENT & INNOVATION 4 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 + Financial advisors appointed 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 GROWTH PROSPECTS ARE GLOBAL 5 5 CHARGING AHEAD 2022 Outlook . 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 AUSTRALIAN BATTERY ANODE MATERIAL FACILITY ? 5ktpa plant construction ? Operational and production readiness ? Partnership and offtake arrangements TANZANIAN GRAPHITE PROJECT ? Finalise Epanko project debt financing for stage 1 – 60,000tpa EUROPEAN BATTERY ANODE MATERIAL FACILITY Site evaluations for second 20,000tpa plant 6 6 Epanko Graphite Project Pilot Plant German Office Australian Manufacturing Facility Corporate summary Board & Executive Management Chairman Robert Pett Managing Director Andrew Spinks Director John Conidi Chief Financal Officer Howard Rae Major Shareholders (Top 20 = 55%) ASX : Börse Frankfurt : USA OTCQX : EGR FMK ECGFF BNP Paribas Nominees 23.9% First Sentier Investors 8.6% Board & Management 7.5% Paradice Investment 5.1% Share price Market capitalisation Cash on hand 30 Sep A$0.845 A$380m A$51.4m Executive Manager – Product Development Michael Chan Executive Manager – Project Development Shaun O’Neill Skellefteå Industrial Site Joint Company Secretary Karen Logan Commercial Manager Marshall Hestelow Business Locations Share Price Shares on issue: 450m Unlisted performance rights: 7.45m 7 Lithium - ion Battery Market, Pricing and EcoGraf Patent . 8 8 Compelling market opportunity 8 9 9 Lithium - ion battery chemistry Graphite is the major raw material in lithium - ion batteries LFP NMC 111 NMC 532 NMC 811 NCA Lithium 16% Nickel 43% Manganese 24% Cobalt 17% Graphite >95% Silicon / other <5% Lithium 17% Other 83% Graphite >95% Silicon / other <5% Lithium 15% Nickel 29% Manganese 29% Cobalt 27% Graphite >95% Silicon / other <5% Lithium 16% Nickel 68% Manganese 8% Cobalt 8% Graphite >95% Silicon / other <5% Lithium 11% Nickel 73% Cobalt 14% Graphite >95% Silicon / other <5% C ath o de A n o de 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 10 10 European demand growth in 3 key regions Source: Roland Berger July 2021 1 Estimate based on 100 - 200 m units of 21,700 cells Over 1,000 GWh/a lithium battery cell production capacity announced through to 2030 W E S T E R N E U R O P E UK ? ~55 GWh/a Germany ? ~270 GWh/a France ? ~125 GWh/a Location TBA ? ~240 GWh/a Norway ? ~70 GWh/a N O R T H E R N E U R O P E ? ~1,000 GWh/a Sweden ? ~40 GWh/a E A S T E R N E U R O P E Poland ? ~65 GWh/a Hungary ? ~50 GWh/a Slovakia ? ~10 GWh/a Italy ? ~110 GWh/a 11 POSCO Intl. enters into battery anode material agreement 11 SUSTAINABLY PRODUCED ECOGRAF ™ HFFREE PRODUCTS TO SUPPORT POSCO’S BATTERY M ATERIALS E XPANSION P LANS Highlights: Intention to enter into a formal offtake agreement for the supply of EcoGraf ™ HF free battery anode material products from: • Australian b attery a node material f acility • P lanned European facility is a m ajor South Korean industrial group and leading battery anode manufacturer 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: • Product development • Battery anode recycling • Development of EcoGraf’s vertically integrated battery anode material business Japan China South Korea 12 ? 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 International patent examiner confirms process novel & inventive Multi - stage chemical purification, washing and filtration process that eliminates hydrofluoric acid a ECO - FRIENDLY a COST EFFECTIVE a HIGH PURITY 12 PURIFIED BATTERY ANODE MATERIAL PROPRIETARY PURIFICATION PROCESS UNDERPINS PRODUCT DEVELOPMENT PROGRAMS IN BATTERY ANODE MATERIALS 13 13 EU Commission battery ESG regulations New measures announced to promote sustainability EIB new energy lending policy supporting projects relating to the supply of critical raw materials P O L I C Y E C O G R A F ’ S E S G A D V A N T A G E S Responsible sourcing of raw materials a EcoGraf ™ HF free proprietary purification process a Epanko developed under Equator Principles CO 2 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 14 14 Market and pricing outlook GRAPHITE PRICES UP 16% LAST QUARTER FORECAST BATTERY MARKET GROWTH OF 30%PA TO 2030 15 Battery Anode Material Business . DEVELOPMENT READY MAXIMISE EFFICIENCY AND PROFITABILITY >60% YIELD TO BE REUSED IN OPERATION 75% WATER 16 Battery graphite business summary Financial returns @ 20,000tpa Pre - tax project NPV 8 Pre - tax equity NPV 8 Annual EBITDA IRR US$642m US$448m US$35m 42.4% ECOGRAF’S FIRST FACILITY TO MEET HIGH GROWTH GLOBAL BATTERY DEMAND Refer ASX announcement dated 5 th November 2020 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 17 17 Western Australia: Kwinana - Rockingham battery minerals developments Globally recognised location for processing of battery minerals BAT T E RY A N O D E FAC I L I T Y I S C O M P L E M E N TA RY TO T H E C AT H O D E D E V E LO P M E NT S 18 18 Western Australian battery anode materials processing facility 18 • 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 • 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 CURRENT STATUS 19 19 Western Australian battery anode materials processing facility 19 • Site layout and design for 5,000 tonnes per annum plant optimised to extract maximum efficiency • 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. IMMEDIATE NEXT STEPS 20 Product Development and Innovation . UNDER DEVELOPMENT 21 21 Sustainability focus and product development initiatives LUBRICANTS, THERMAL EFFICIENT AND FIRE RESISTIVITY MATERIALS HYBRID CARS/ POWER TOOLS & 3C APPLICATION Main Product Secondary Product Product Development of Bi - Product Fines BATTERY ANODE MATERIAL PRODUCTS END USE MARKET SIZE GROWTH VALUE INDUSTRY /CUSTOMERS ELECTRIC VEHICLES, STORAGE PACK CAST & GREY CAST STEEL FOUNDRY/EAF FURNACE AA, AAA, Li - ION CEM CATHODE & CAN COATING FUEL CELLS HIGH VERY HIGH LOW VERY HIGH HIGH MEDIUM VERY HIGH VERY HIGH LOW LOW LOW MEDIUM VERY HIGH MEDIUM MEDIUM ELECTRIC VEHICLES ELECTRIC VEHICLES STEEL/ GREEN STEEL BATTERY , CHEMICAL MANUFACTURING BATTERY AND CHEMICAL MANUFACTURING LOW 22 22 Western Australia: Kwinana - Rockingham hydrogen developments Planning commenced for new hydrogen clean energy developments 23 Green hydrogen fuel cell requires ecoCEM HYDROGEN FUEL - CELL • 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 RAW MATERIAL FOR GREEN ENERGY CATHODE (+) ANODE ( - ) O 2 H 2 H 2 H 2 O 23 Targeting large transportation vessels and high efficiency stationary energy plants High value market and significant opportunity to participate in the Green Hydrogen sector. Hydrogen fuel cell – bipolar plates = Bipolar plates 24 24 Innovative battery anode coatings program • 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 Development of an enhanced coating technology to improve battery performance using FYI HPA and EcoGraf ™ battery anode material Coated anode prices range between US$6,000 and US$10,000 per tonne CR2016 Coin Cell 25 25 Future vision for lithium - ion battery manufacturing in Australia Referenced from Jared Ford, CSIRO Webinar Presentation 2021 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 26 26 Global expansion strategy for EcoGraf’s battery anode business Supply of sustainably produced HF free battery anode materials to key growth markets 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. 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 Existing Locations Potential Site Location Evaluations 27 Natural Flake Graphite Business . DEVELOPMENT READY ANNUAL EBITDA US$44.5M NATURAL FLAKE GRAPHITE 60,000TPA 28 Natural graphite business summary Defined, De - risked and Ready For Construction • Bankable Feasibility Study completed by GR Engineering Services • Bank appointed Independent Engineer’s Review completed by SRK Consulting • Supporting Tanzania’s industrialisation strategy • Granted Mining Licence Sector Leading ESG Credentials Equator Principles development model, satisfying: • International Finance Corporation Performance Standards • World Bank Group Environmental, Health & Safety Guidelines Scalable Production Plant 60,000tpa initial development with low cost expansion to meet market demand Sales Agreements with Major International Customers thyssenkrupp (Germany) and Sojitz Corporation (Japan) Financial returns @ 60,000tpa Pre - tax project NPV 10 Annual EBITDA IRR US$211m US$44.5m 38.9% Capital investment 60,000tpa US$89m Refer ASX announcement dated 21 June 2017 LONG LIFE EPANKO GRAPHITE MINE TO SUPPLY INDUSTRIAL AND BATTERY MARKETS 29 29 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 RENEWABLE ENERGY estimated to increase from 25% to 65% by 2050 opportunity for graphite in solar panel batteries to power remote villages Significant contribution to Tanzanian economy • 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 30 Epanko rocks have undergone extremely high metamorphic pressure and temperature forces that have created unique ‘cheetah’ like rock textures • 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 High quality graphite deposit with scale Epanko drill core rock texture 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 31 31 EcoGraf provides mine - to - market ESG supply chain assurance Epanko to transform the regional economy, operating for over 40 years and contributing over US$3 billion to Tanzanian economic and social development • 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 • 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 31 OF MINE OPERATION >40 YEARS DIRECT CONTRIBUTION TO TANZANIA US$3B 32 Lithium - ion Battery Recycling Business . PILOT SCALE READY 33 Benefits and Opportunity Battery recycling PRODUCTION SCRAP Carbon material which is a waste product generated from each stage of battery anode manufacturing, cell manufacturing and battery testing BLACK MASS Carbon material remaining after hydrometallurgical processes have recovered the high value cathode metals from end - of - life lithium - ion batteries EU legislation to require more battery recycling and greater transparency in the raw materials supply chain Reducing battery production costs Lowering the EV carbon footprint Recycling efforts have focused on cathode metals Carbon anode materials are currently not recovered Market Overview 34 34 EcoGraf positioned to recover and reuse carbon anode material Agreement signed with South Korea’s largest lithium - ion battery recycling group SungEel HiTech 35 35 EcoGraf ™ recycling results using production scrap feedstock 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 Physical d10 7.7 micron d50 15.9 micron d90 29.1 micron Tap Density 0.99+/ - 0.01 g/mL Chemical Carbon Content (LOI) 99.98% Al <5 ppm Ca <15 ppm Cr <1 ppm Cu <15 ppm Fe <10 ppm Ni <5 ppm S <10 ppm Si <10 ppm KEY SPECIFICATION OUTCOMES RECYCLED LITHIUM - ION BATTERY ANODE MATERIAL ACHIEVES 99.98%C 36 36 Recycling strategy for recovered anode material Prioritising high value natural and synthetic industrial applications for reuse of carbon anode material in industrial applications. 37 37 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 CO 2 footprint TREATMENT RATE 50 - 100KG/HR 38 Growth Strategy, Value Proposition and Outlook . 39 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 Blended battery anode material provides a unique eco - friendly product 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 in novation to identify further value adding opportunities using the EcoGraf ™ purification process a International Patent Examiner confirms process novel and inventive DIVERSIFIED BATTERY ANODE MATERIAL BUSINESS SUPPORTING THE GLOBAL TRANSITION TO CLEAN ENERGY AND E - MOBILITY 40 40 EcoGraf’s vertically integrated product flow Epanko Graphite Project Global Graphite Feedstock Battery Anode Material Facility Lithium - ion Battery Manufacturing Electric Vehicles C L O S E D L O O P R E C Y C L I N G Lithium - ion Battery Anode Recycling Plant R E - U S E M A R K E T Natural + Synthetic Applications Production Scrap Industrial Applications and Alkaline Batteries 41 + Value proposition BATTERY ANODE MATERIAL FACILITY + 20,000tpa battery graphite + US$35m annual EBITDA + 42.4% internal rate of return + US$642m pre - tax project NPV 8 + US$448m pre - tax equity NPV 8 and payback of ~3.3yrs Diversified battery anode material business positioned for the global transition to clean energy 41 + 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 18 Richardson Street West Perth, WA 6005 www.ecograf.com.au SUBSCRIBE TO STAY UPDATED Follow EcoGraf on LinkedIn, Twitter or sign up to the company’s newsletter for the latest announcements, media releases and market news. ASX: EGR FSE: FMK OTCQX: ECGFF BATTERY ANODE MATERIAL THE FUTURE IS ELECTRIC LITHIUM - ION BATTERY RECYCLING NATURAL GRAPHITE PRODUCT DEVELOPMENT & INNOVATION

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