Ecograf Ltd. · ASX:EGR
Ecograf — Shareholder Meeting (November 2025)
38 slides from Ecograf's shareholder meeting presentation, Nov 25, 2025
Slide 1: Annual General Meeting
For personal use only Annual General Meeting Tuesday, 25 November 2025
Slide 2: Disclaimer
Disclaimer Securities Disclaimer Competent persons This document is for informational purposes only and does not constitute an offer to sell, or solicit to purchase, any The information in this report that relates to Mineral Resources is based on, and fairly reflects, information compiled by Mr. For
Slide 3: Corporate snapshot
Corporate snapshot Cash at Hand1: Stock Listings Major shareholders A$8.5 million ASX: EGR FSE: FMK For personal use only Australian Securities Exchange Frankfurt Stock Exchange (Börse Frankfurt) Market Cap2 46% A$217.16 million 48.6% Purification Anode Ordinary Shares Facilities Recycling 5.4% on I
Slide 4: Our business
Our business EcoGraf Vertically Integrated Battery Anode Materials Business For personal use only Epanko Graphite Project Mechanical Shaping Facility HFfree Purification Facilities Anode Recycling UPSTREAM MIDSTREAM D O W N S T RE AM R E C Y CL I N G ✓ Superior Graphite Flake ✓ High Yields ✓ Low-Cos
Slide 5: Epanko Key Highlight for 2025
Epanko Key Highlight for 2025 Rigorous lenders’ technical due diligence program undertaken following the culmination of numerous work programs completed: For personal use only Mine planning to optimise the expanded Ore Reserve estimate and oxide first strategy; New geotechnical drill data to con
Slide 6: Key Highlights for 2025 (con't)
Key Highlights for 2025 (con’t) In addition to the advancement of debt financing for Epanko, key activities included For personal use only Special Mining Licence granted for Epanko Pre-Development Work Programs Completed European Union Epanko Site Visit Engineering Study Completed for Midstr
Slide 7: 2025 Key Achievements Delivers
2025 Key Achievements Delivers • Epanko to become Africa’s largest planned graphite producer, with future expansions tied to increased demand and growth of its downstream HFfree® purification facilities For personal use only • Only project globally to undergo stringent development bank appointed due
Slide 8: Government Recognition
Government Recognition Invited to attend historic CRM delegation to South Korea Tanzania Government Roundtable meetings and discussions For personal use only Australian Government Major Project Status for purification technology EcoGraf included in US White House briefing room statement U.S. Governm
Slide 9: Key Highlights for 2025
Key Highlights for 2025 For personal use only A green circle with a white arrow in it Description automatically generated View video: https://tinyurl.com/mr3dz4zw 9
Slide 10: Geopolitical Drivers for New Anode Material Supply
Geopolitical Drivers for New Anode Material Supply GLOBAL LEGISLATION DRIVING NEW ANODE MATERIAL SUPPLY GLOBAL EV SALES FORECAST, BY MARKET Million Units For personal use only Chinese Restrictions 70 China Europe US RoW Japan India South Korea • China dominates the graphite market with near 60 100%
Slide 11: Natural graphite demand
Natural graphite demand Global graphite demand is forecast to overtake projected Natural flake graphite is the key raw material used in supply from 2026 Lithium-ion anode manufacturing 2030 forecast over 3.0Mt of natural graphite will be For personal use only Increased % natural graphite to
Slide 12: Strategic Rationale for High-purity Graphite
Strategic Rationale for High-purity Graphite Graphite is a NATO-designated defence-critical raw Graphite defence-critical raw material material, essential for applications in aerospace, missile For personal use only systems, submarines, and electronic warfare technologies. Germany currently relies h
Slide 13: UPSTREAM Epanko Graphite Project
UPSTREAM Epanko Graphite Project KfW IPEX-Bank mandated for UFK Loan up to US$105m for development of Epanko For personal use only Mine and Mineral Processing • Stage 1 - 73,000tpa of natural graphite Facility to Produce Natural • ‘Life of Mine’ Special Mining Licence Flake Graphite granted • Rigoro
Slide 14: The Epanko Graphite Project
The Epanko Graphite Project For personal use only 14
Slide 15: Epanko Project Advantages
Epanko Project Advantages Key advantages to drive lowest cost feedstock for lithium-ion battery market TRANSPORT DISTANCE For personal use only 450km TO PORT EPANKO MINE 75km TO RAIL MINERAL RESOURCE ESTIMATE ORE RESERVE ORE RESERVE GRADE AVERAGE THICKNESS 8.8% 200 300 21 82 % 250 200 150 290 TGC 10
Slide 16: Epanko graphite project
Epanko graphite project A group of people working on a construction site Epanko deposit is the largest development ready Mineral Description automatically generated Resource in Africa providing a long-term scalable lowest-cost For personal use only natural graphite feedstock for the Company’s downst
Slide 17: Epanko Status for Stage - 73,000tpa
Epanko Status for Stage 1 - 73,000tpa • Financing arrangements advancing to Preliminary Approval for a binding offer of cover from KfW IPEX-Bank For personal use only • EU exploring support for Epanko, which is positive for the advanced lending process with KfW IPEX-Bank • Completion of various pre-
Slide 18: Epanko Expansion Supports Downstream Facilities
Epanko Expansion Supports Downstream Facilities Epanko Expansion Ramp-up Potential for first 10-years of Production Proposed additional three stages for combined production of 390,000 tpa For personal use only 400,000 Production Scenario 350,000 300,000 Individual Cumulative 250,000 Stage 1 73 ktpa
Slide 19: Epanko Feedstock Technical Advantage Over China
Epanko Feedstock Technical Advantage Over China TECHNICAL ADVANTAGE OF EPANKO FEEDSTOCK COMPARED TO CHINA High concentrate grade 96-98% carbon vs China 92-94% carbon For personal use only Higher grade means less impurities to remove during purification process and graphite market hierarchy, that
Slide 20: Epanko Processing Plant Flythrough
Epanko Processing Plant Flythrough A building with a roof and a building with a roof Description automatically generated with medium confidence For personal use only A green circle with a white arrow in it Description automatically generated View flyover video: https://tinyurl.com/4k859b2h 20
Slide 21: Epanko Processing Plant Layout
Epanko Processing Plant Layout For personal use only A green circle with a white arrow in it Description automatically generated VIEW FLYOVER VIDEO > https://tinyurl.com/ypmd7vme 21
Slide 22: Our Tanzanian Team Delivering Results
Our Tanzanian Team Delivering Results For personal use only 22
Slide 23: Infrastructure
Infrastructure POWER Julius Nyere Hydroelectric Ifakara Substation – EU Funded Power Project • Epanko stage 1 - 2.8MW power requirement For personal use only • TANESCO Ifakara substation funded by EU and opened 2024 • Finalising power supply agreement with TANESCO to connect 33kV Epanko line at Mahe
Slide 24: History of Community and Social Support
History of Community and Social Support • PreIWD 2024 continues and grows • Supply of roofing materials for a new with president H.E Samia Suluhu classroom at the Nawenge Hassan as the guest of honour Secondary School For personal use only • Road construction – 3.5km • Construction of additional bui
Slide 25: Epanko Development Contribution to Tanzania
Epanko Development Contribution to Tanzania Economic growth Uplifting Community For personal use only Direct contribution to the economy through procurement of goods and services, employment, royalties, taxes and dividends. Positive Impact Multiplier effect with an estimated Transformational inter-
Slide 26: Corporate Social Responsibility (CSR) Achievements
Corporate Social Responsibility (CSR) Achievements For personal use only A green circle with a white arrow in it Description automatically generated Leading with strong ESG and CSR to benefit all key stakeholders View video: https://tinyurl.com/3jb6th82 26
Slide 27: MIDSTREAM Mechanical Shaping Facility
MIDSTREAM Mechanical Shaping Facility Positioning to be first development that supports Tanzanian Governments ‘Vision 2030’ value-addition strategy For personal use only Mechanical shaping of natural • Ifakara identified as the preferred location flake graphite to produce Spherical Graphite (SpG) •
Slide 28: Mechanical Shaping Facility Design
Mechanical Shaping Facility Design • Extensive testwork programs delivering high yields of ~60% For personal use only • Independent engineering study completed for 20,000tpa Stage 1 Facility Cost Operating Cost US$58.6m US$419/t • Positive discussion with European Union (EU) Tanzanian delegation sup
Slide 29: DOWNSTREAM HFfree Purification Facilities
DOWNSTREAM HFfree Purification Facilities Industry-leading lowest cost to drive new developments and expansion supported by legislation to encourage sustainable supply chains For personal use only EcoGraf HFfree® Purification of SpG to • Product qualification facility (PQF) programs produce purified
Slide 30: EcoGraf HFfree Process Advantages
EcoGraf HFfree® Process Advantages HIGHLY EFFECTIVE CHEMICAL PROCESS TO REMOVE IMPURITIES FROM NATURAL GRAPHITE & CARBON MATERIALS For personal use only Low cost Proprietary technology Competitive economics • Europe patent submission compared to the other • U.S. Patent granted No. 11,702342. purific
Slide 31: EcoGraf HFfree Delivers Industry-leading Low Cost
EcoGraf HFfree® Delivers Industry-leading Low Cost • Forecast process operating cost for initial 25,000tpa facility reduced by 25% to US$478/t driven by process design For personal use only breakthroughs and process efficiencies, • Financial metrics robust for an initial 25,000 tpa facility based on
Slide 32: EcoGraf HFfree Purification Cost Advantage
EcoGraf HFfree® Purification Cost Advantage Significant cost advantage PURIFICATION OPERATING COST COMPARISON - US LOCATION confirmed via updated For personal use only 1,200 benchmarking study • Updated cost comparison based on 1,000 initial global engineering & construction consultancy, comparing 8
Slide 33: HFfree Battery Anode Material Development History
HFfree Battery Anode Material Development History Extensive testwork, bench scale and piloting programs completed underpins and derisks HFfree processing technology PQF Delivers HFfree Cost Competitiveness Australian Patent For personal use only Major Project Status Approved by Australian Granted Go
Slide 34: Product Qualification Facility (PQF)
Product Qualification Facility (PQF) A person in a factory AI-generated content may be incorrect. For personal use only A green circle with a white arrow in it Description automatically generated View video: https://tinyurl.com/36uwytx9 34
Slide 35: RECYCLE Anode Recycling
RECYCLE Anode Recycling EcoGraf HFfree® purification supports closed 3 loop recycling and battery circular economy • Essential for maximising battery manufacturer For personal use only EcoGraf HFfree® purification processing efficiency and compliance with technology applied to regulatory waste manag
Slide 36: Corporate Commitment to Leading ESG Standards
Corporate Commitment to Leading ESG Standards Our team is committed to the highest standards in terms of environment, For personal use only social and governance responsibility, including developing and implementing planning frameworks that are aligned with the following IFC Performance Standards (“
Slide 37: EcoGraf's Development Strategy
EcoGraf’s Development Strategy Pathways advancing for establishing HFfree facilities in Europe, US and Asia For personal use only Headquarters and PQF Upstream Epanko Graphite Mine Midstream Ifakara Shaping Facility Downstream Purification Facilities in Global Battery Hubs* Recycling plants to be co
Slide 38: The future is electric with EcoGraf HFfree purification and Tanzanian graphite
The future is electric with EcoGraf HFfree® purification For personal use only and Tanzanian graphite 18 Richardson Street,West Perth WA 6005 info@ecograf.com.au. www.ecograf.com.au ASX: EGR FSE: FMK EcoGraf Limited Subscribe for @EcoGraf EcoGraf latest news and EcoGraf Limited investor updates