Syrah Resources Limited · ASX:SYR
Syrah Resources — Advanced Automotive Battery Conference (AABC) January 2021
29 slides from Syrah Resources's conference presentation, Jan 20, 2021
Slide 1: Natural Graphite Active Anode Material (AAM) for Global Electric Vehicle Demand
For personal use only Natural Graphite Active Anode Material (AAM) for Global Electric Vehicle Demand AABC – January 2021 Shaun Verner – CEO Joe Williams – Global Marketing & Sales Manager -
Slide 2: Important notice and disclaimer
Important notice and disclaimer For personal use only 1
Slide 3: Table of contents
Table of contents For personal use only Company Overview 3 Market Needs 6 Market Conditions 12 USA Production Development 16 Entry Product Characteristics 18 Closing Remarks / Securing Your Supply 25 2
Slide 4: Company Overview
DRAFT FOR DISCUSSION PURPOSES ONLY – STRICTLY CONFIDENTIAL For personal use only NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES Company Overview 3 Photo: Balama Graphite Operation
Slide 5: Syrah's value proposition
Syrah’s value proposition For personal use only ● Electric Vehicle (“EV”) adoption is gaining momentum ● Anodes in lithium-ion batteries used in EVs are comprised of graphite Electric Vehicles require graphite ● ESG factors are increasingly important considerations for manufacturers and consumers ●
Slide 6: Syrah Resources is a globally integrated natural graphite producer
Syrah Resources is a globally integrated natural graphite producer A global business to service the growing demand for natural flake graphite and processed graphite-based products For personal use only 5
Slide 7: Balama is the world's largest integrated capacity, high quality graphite operation
Balama is the world’s largest integrated capacity, high quality graphite operation Balama is Tier 1 asset. Low cost at high-capacity utilization and high quality - end to end traceability Active Anode Material (AAM) For personal use only Overview Graphite Mineral Resources and Ore Reserves Location
Slide 8: Market Needs
For personal use only NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES Market Needs 7 DRAFT FOR DISCUSSION PURPOSES ONLY – STRICTLY CONFIDENTIAL
Slide 9: Sustainability is now a major priority for the EV supply chain
Sustainability is now a major priority for the EV supply chain Syrah prioritizes sustainability throughout the production process from mine to anode, alongside quality and cost For personal use only 8
Slide 10: The scale of projected growth (GWh/year) over the next decade is staggering
The scale of projected growth (GWh/year) over the next decade is staggering Market demand models for Li-ion energy storage requirements are continuously revised upward to 2030 For personal use only Electric Vehicles a key driver of battery demand growth Strong growth forecast for battery demand We a
Slide 11: Substantial Natural Graphite extraction and conversation capacity required
Substantial Natural Graphite extraction and conversation capacity required Like lithium, cobalt and nickel, Li-ion batteries are the primary growth driver for natural graphite For personal use only ^ ^ ^: LiB = Lithium-Ion Batteries Source: Benchmark Minerals Intelligence 10
Slide 12: Multiple processing routes yield differing AAM cost-performance outcomes
Multiple processing routes yield differing AAM cost-performance outcomes Synergy in performance requirements and lower cost opportunity see multiple anode precursor materials blended into final product For personal use only Blend(s) Raw Material Precursor Precursor Anode Active Material (if applied)
Slide 13: Anode Active Materials are blended to meet customer targets
Anode Active Materials are blended to meet customer targets Material blends are prepared either by anode supplier or cell manufacturer to meet cost and performance specifications For personal use only Anode Material Producer Cell Producers Manufacturing process A Material A Cell Product A (i.e. NG P
Slide 14: AAM Market Conditions
DRAFT FOR DISCUSSION PURPOSES ONLY – STRICTLY CONFIDENTIAL For personal use only NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES AAM Market Conditions 13
Slide 15: China currently produces 100% of global natural graphite anode precursor
China currently produces 100% of global natural graphite anode precursor China manufactured precursor is used domestically and exported to Japan and South Korea to manufacture Active Anode Material (AAM) For personal use only ANODE PRECURSOR MILLING/ PURIFICATION SHAPING 100% Anode Precursor Supply
Slide 16: Accommodative policy response is seeing a significant AAM demand growth
Accommodative policy response is seeing a significant AAM demand growth After low growth in H2/’19 and H1/’20, monthly growth in H2/’20 has accelerated to >100% YoY growth in production volume For personal use only Chinese AAM Production (NG, AG, Composite) 50,000 45,000 EV demand 40,000 Subsidy Red
Slide 17: Syrah an alternate AAM supplier for battery supply chain participants
Syrah an alternate AAM supplier for battery supply chain participants Syrah aims to provide a complementary and alternate supply proposition to existing domestic China supply to meet growing demand For personal use only Battery Anode Material Project Export Markets • Planning to establish USA • Pote
Slide 18: Integrating a portion of the supply base can improve ESG & traceability
Integrating a portion of the supply base can improve ESG & traceability Targeting ease of audit and traceability to provide customers a clear and direct feedback on origins of their products For personal use only Based on est. 2019 – battery sector consumption ratio *Potential Future; Fully integrat
Slide 19: USA Development – AAM production & performance
DRAFT FOR DISCUSSION PURPOSES ONLY – STRICTLY CONFIDENTIAL For personal use only NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES USA Development – AAM production & performance 18 Photo: Syrah’s AAM plant in Louisiana
Slide 20: Located in Vidalia, Louisiana, USA, our AAM production facility is highly scalable
Located in Vidalia, Louisiana, USA, our AAM production facility is highly scalable Significant progress in demonstrating capability to supply commercial volume to market, in a sustainable manner For personal use only 19
Slide 21: Fully integrated, auditable supply to Vidalia, USA from Balama, Mozambique
Fully integrated, auditable supply to Vidalia, USA from Balama, Mozambique Through vertical integration, automation and scale, is it possible to achieve sustainable cost-competitive production outside Asia For personal use only 20
Slide 22: High quality AAM production generated through a leading AAM precursor
High quality AAM production generated through a leading AAM precursor Key performance characteristics include graphite energy density, size distribution, density and morphology For personal use only Slide 21-26 Performance data collated from multiple production batches between 2017-2020 21
Slide 23: Fundamental properties and performance levers are well understood
Fundamental properties and performance levers are well understood Stable, consistent coating and surface area optimisation reduces irreversible capacity loss and promotes cycle life For personal use only Spherical Graphite (precursor) – SEI formation Relationship between surface area and irreversibl
Slide 24: First Cycle & Discharge Capacity performance strong against benchmark
First Cycle & Discharge Capacity performance strong against benchmark Discharge Capacity and FCE performance is in line with market leading market AAM products For personal use only Half Cell Discharge Capacity First Cycle Efficency 365 95% 360 94% Specific Capacity (mAh/g) 355 93% First Cycle Effic
Slide 25: Material shows moderate charge-rate advantage over benchmark
Material shows moderate charge-rate advantage over benchmark Moderate improvement in charge capacity at 2C (30min) demonstrated over the benchmark standard, all else in line For personal use only Rate Performance (Half Cell) Discharge capacity after various charge rates showing ~80% SOC at 2C 370 35
Slide 26: Cycle performance is moderately improved in 18650 cylindrical cells
Cycle performance is moderately improved in 18650 cylindrical cells Commercial scale production in 2.75Ah energy cells vs equivalent natural graphite benchmark For personal use only Cylindrical 18650 2.75Ah Cells NMC532-Graphite Cells Source: Commercial cell producer benchmark evaluation 25
Slide 27: Pouch cell cycle performance also stable, ~95% retained after 275 cycles
Pouch cell cycle performance also stable, ~95% retained after 275 cycles Cycle performance is very sensitive to battery cell design and therefore these figures are only indicative of potential For personal use only 1C/1C Cycling of Pouch Cell with Syrah Graphite Anode Material (CLP) at 25 degrees 10
Slide 28: Syrah's market entry focus is to serve customers with proven technology
Syrah’s market entry focus is to serve customers with proven technology Our Product Roadmap provides mass-market cost-performance targets and product expansion to deliver sustainable return on investment For personal use only Cost • Integrated Production outside Asia • Cost-competitive, complimentar
Slide 29: Contact
For personal use only • Commercial samples available (1-1,000kg) • Product specification detail and processing information available for review • Early engagement in LCA supply-chain audit available • Commercial production allocations underway Contact www.syrahresources.com.au Marketing – enquiries@
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