EcoGraf Poised to Help Meet Growing Demand for Battery Graphite

• EcoGraf is focused on building a vertically integrated business to meet the increasing demand for graphite battery anode materials, driven by the shift towards renewable energy sources and electric vehicles.
• The company has three main aspects to its business: extraction and development of a graphite mine in Tanzania, purification technology for battery-grade graphite, and a recycling initiative to extract valuable minerals from end-of-life batteries.
• The global demand for lithium-ion batteries is growing rapidly, leading to a significant demand for high-quality graphite, particularly in the smaller size fractions.
• EcoGraf's Epanko project in Tanzania is development-ready, and the company is exploring further expansion opportunities in the region, including the establishment of a manufacturing hub to produce spheronized graphite. The company is also focused on sustainable development and community engagement.

About EcoGraf

EcoGraf Limited is well-positioned to help meet the rapidly growing global demand for battery-grade graphite. With its Epanko Graphite Project in Tanzania and proprietary purification technology, EcoGraf plans to be a vertically integrated producer of high-purity graphite products.

Tanzania Epanko Graphite Project

The Epanko Graphite Project in southern Tanzania is EcoGraf's flagship development asset. Extensive studies have shown Epanko to be a world-class graphite deposit capable of producing 60,000 tonnes per year of high-grade graphite concentrate for at least a 40-year mine life.

An updated feasibility study released in 2017 was reviewed by independent engineers SRK, who confirmed the technical aspects of the study appropriately derisked development. Earlier this year, a value engineering exercise further optimized and simplified the proposed processing plant.

In March 2022, EcoGraf announced a 38% increase in the Epanko mineral resource, providing additional options to expand production beyond the initial 60,000 tonne per year staged development. The company is currently undertaking further drilling to grow the resource inventory.

Tanzania is Supportive of Development

The Tanzanian government is supportive of graphite mining at Epanko. President Samia Suluhu Hassan has stated her aspiration is for Tanzania to become a major global producer of critical minerals like graphite.

A Framework Agreement concluded earlier this year between EcoGraf and the Tanzanian government provides a foundation to now move forward with Epanko's development with confidence.

In recent years, the government has invested heavily in infrastructure near Epanko, including roads, power transmission and port facilities. This will benefit project logistics and lower operating costs.

Epanko Offers Excellent Development Fundamentals

Extensive test work has demonstrated Epanko will be a low-cost, high-margin producer. The graphite mineralization has excellent metallurgical characteristics, with a simple flow sheet delivering high recoveries.

Mining will focus on near-surface oxidized ore during the early years, reducing capital intensity and operating costs. The mine plan takes advantage of higher grades in the initial pit development, supporting the targeted 60,000 tonne per year production rate.

Epanko will produce a premium quality 97-98% total graphitic carbon concentrate. Strong demand growth for the finer graphite flake sizes needed for lithium-ion batteries is positive for Epanko. However, the deposit also contains coarser flake sizes that attract higher pricing, providing upside.

Local Benefits from Mine Development

EcoGraf is committed to developing Epanko responsibly and ensuring benefits flow to local communities. An updated Relocation Action Plan is being implemented following extensive consultation.

During construction and operations, the company anticipates Epanko will create approximately 860 direct jobs, with additional indirect employment. The project has potential to be transformational for the regional economy.

Value-Added Production in Tanzania

EcoGraf has undertaken a scoping study for a graphite shaping and micronizing facility in Tanzania to produce spherical purified graphite. Tanzania's competitively priced renewable power and its government's incentives for manufacturers make it an attractive location.

The proposed facility could create up to 440 additional jobs and enable EcoGraf to optimize its battery anode material supply chain. Locating this value-added processing in Tanzania aligns with the government's goals for economic diversification.

Proprietary EcoGrafTM Purification Technology

In addition to its Epanko mine development, EcoGraf is also focused on serving battery graphite demand through its proprietary EcoGrafTM purification technology.

Over several years, EcoGraf has undertaken extensive research and piloting to customize a specialised flotation and hydrometallurgical technique for purifying graphite to battery grade levels of 99.95% carbon.

Successful testing on Epanko concentrate has led to a commitment to build an EcoGrafTM processing facility in Australia to provide product samples to battery customers for qualification testing. The modular and scalable nature of EcoGrafTM plants provides flexibility to locate production near battery manufacturers.

During 2022, EcoGraf signed an agreement with Korean group POSCO to supply battery anode material. The company is also assessing options to recover and recycle graphite from battery manufacturing waste and spent batteries to create a closed-loop supply chain.

Ready to Meet Growing Battery Graphite Demand

Through its integrated Epanko mine and EcoGrafTM processing business, EcoGraf is poised to help supply the significant graphite demand growth forecast over the coming decades driven by lithium-ion batteries. Backed by a supportive Tanzanian government and its proprietary technology, EcoGraf appears well placed to capitalize on the global energy transition.

Conclusion

The company represents an attractive investment opportunity in the critical minerals space, with near-term catalysts including Epanko permitting, product qualification and further offtake agreements. EcoGraf's vertically integrated strategy provides multiple avenues to create value for shareholders as the battery minerals boom accelerates. Reasons why EcoGraf could be a good investment opportunity for investors:

Favorable Supply-Demand Fundamentals

• Global graphite demand is forecast to increase significantly driven by lithium-ion battery growth. New sources of supply like Epanko are needed.

Attractive Vertical Integration Strategy

• EcoGraf's mine, processing and recycling business provides leverage to rising graphite prices across the value chain.

Epanko is a Robust Development Asset

• Extensive studies have derisked Epanko as a low-cost, long-life producer of high-quality graphite concentrate.

Supportive Tanzanian Government

• Recent policy changes and infrastructure investment have created a positive environment for resource investment in Tanzania.

Proprietary EcoGrafTM Purification Technology

• EcoGraf's specialized purification process provides a potential competitive advantage in producing battery-grade graphite.

Near-Term Catalysts

• Advancing Epanko to production, new offtake contracts and market qualification of EcoGrafTM products could drive share price momentum.

Quality Board and Management

• Experienced resource executives with track record of developing projects and operating mines.

Exposure to Battery Minerals Growth Story

• Graphite for lithium-ion batteries is a high-growth market backed by decarbonization trends.

The combination of advanced assets, proprietary technology, supportive government policies and strong industry fundamentals makes EcoGraf a compelling investment opportunity in the battery minerals sector.