Bullfrog Gold Corporation · TSXV:FROG
Bullfrog Gold — Applied Graphite Technologies — Investor Presentation (November 2025)
19 slides from Bullfrog Gold's investor presentation, November 2025
Slide 1: The World's Highest Grade Vein Graphite Deposits in Sri Lanka
The World’s Highest Grade Vein Graphite Deposits in Sri Lanka INVESTOR PRESENTATION November 2025 TSX.V: AGT OTCQB: AGRTF WWW.APPLIEDGRAPHITE.COM
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS This presentation includes certain statements that may be deemed forward looking statements. All statements in this discussion, other than statements of historical facts, which address future production, reserve potential, exploration activities and events or developments
Slide 3: AGT Investment Highlights
AGT INVESTMENT HIGHLIGHTS The Right Commodity at the Right Time • Mining the untapped potential for the world’s highest grade natural vein graphite only from Sri Lanka • Favourable supply/demand outlook for graphite • Permitting Currently Underway: Exploration and Mining Permits • New regulations al
Slide 4: Battery Graphite
BATTERY GRAPHITE GRAPHITE IS FUNDAMENTAL TO EVERY LITHIUM-ION BATTERY: 1.2 kg of graphite / kWh Driven by growing EV sales, demand for graphite is set to triple from 1.2m tonnes in 2022 to more than 5m tonnes a year by 2030 according to Benchmark Mineral Intelligence. A supply deficit is expected by
Slide 5: AGT's Vein Graphite: The Difference
AGT’s VEIN GRAPHITE: THE DIFFERENCE THE IDEAL GRAPHITE FOR EV LITHIUM-ION BATTERIES SYNTHETIC GRAPHITE FLAKE GRAPHITE AGT’S VEIN GRAPHITE • Feed stock is petroleum coke • Naturally occurring • Naturally occurring, Unique to • Synthetic Graphite is • Low carbon footprint Sri Lanka graphitized petrole
Slide 6: Vein Graphite: The Advantage
VEIN GRAPHITE: THE ADVANTAGE THE IDEAL GRAPHITE FOR EV LITHIUM-ION BATTERIES Sri Lanka’s unique natural vein graphite material has outperformed an Industry Standard synthetic graphite- SL discharge capacity of 165 mAh/g, as compared to the Industry Standard of 153mAg/g. Very small loss in capacity o
Slide 7: Vein Graphite: The Most Environmentally Friendly Graphite
VEIN GRAPHITE THE MOST ENVIRONMENTALLY FRIENDLY GRAPHITE Synthetic graphite production involves energy-intensive processes such as high-temperature furnaces to graphitize petroleum coke, a by-product from refining oil. Flake graphite requires open pit mining and extensive primary beneficiation and c
Slide 8: The Right Experience
THE RIGHT EXPERIENCE DON BAXTER, P.ENG, CEO, DIRECTOR “Don brings . . Don is one of the few premier graphite experts outside of experience, ideas China, having built one of only two producing graphite mines in North America. and capabilities Don gained extensive operational experience in Sri Lanka a
Slide 9: Leadership Team
LEADERSHIP TEAM LOCAL, INDUSTRY AND SRI LANKA EXPERIENCE Jay Sujir Don Baxter, P.Eng. Director Mr. Sujir is a securities and natural resources lawyer who has Director / CEO EXPERIENCE . twenty-five years of experience in advising and assisting public Chaanaka Abeyratne companies. He is a senior part
Slide 10: Sri Lanka: An Established Graphite Mining Country
SRI LANKA AN ESTABLISHED GRAPHITE MINING COUNTRY Graphite mining in Sri Lanka dates to the era of the Dutch colonization in the 17th century , with three major mines in operation today - Kahatagaha (since 1872), Bogala and Ragadera, producing an estimated 6,000 to 8,000 metric tons annually. Sri Lan
Slide 11: Queens Mine Complex
Queens Mine Complex Queens Mine Complex D1, Q2 and MULTIPLE VEIN GRAPHITE PROPERTIES Queens Mine. Located in best graphite area in Sri Lanka, near three producing mines. AGT will be fourth. 128 km by paved road (2.5-hour travel time) from Colombo, Sri Lanka capital, and largest port. Along the same
Slide 12: Queens Mine Complex
Queens Mine Complex MULTIPLE VEIN GRAPHITE PROPERTIES Exposed vein-D1 Drill Core Drill Core Intersected vein D1 property from below Natural vein graphite, with natural high grade +95% carbon content in the ground, and no need for primary processing. Private land in the heart of the vein graphite dis
Slide 13: Queens Mine History & Overview
QUEENS MINE HISTORY & OVERVIEW The Queens mine originally opened in the early 1900s by the British, however when the British colonial period ended in 1948 the mine was abandoned. The mountain in which the Queen's Mine is situated in is also referred to as 'the graphite mountain’. Graphite veins run
Slide 14: Queens Mine
QUEENS MINE Existing underground workings will allow quick access to existing exposed graphite Dewatering ongoing as required. Inspection of workings for safety and upgrade Geophysics and limited drilling for mine planning Three months to mining permit TSX.V: AGT OTCQB: AGRTF WWW.APPLIEDGRAPHITE.COM
Slide 15: Simple Mining on Multiple Near Surface Veins
Queens Mine Complex SIMPLE MINING ON MULTIPLE NEAR SURFACE VEINS Mine concept would be simple horizontal adits to access multiple known surface outcropping. Design to be optimized with ground-based IP known to be very effective at identifying conductive graphite veins. Conceptual initial graphite ex
Slide 16: Growth Plan Timeline
GROWTH PLAN TIMELINE BUILDING A GREEN BATTERY COMPANY FROM CASH FLOW Achieve +20,000 tonnes Starter operation to create annual bulk sampling to generous cashflow attract OEM offtake Upgrade Mine Unprocessed Development 5 - 15 tpd 15 - 30 tpd +50 tpd graphite to Permitting 2026-2027 2027-2028 2028-20
Slide 17: Growth Plan & Upside Potential
GROWTH PLAN & UPSIDE POTENTIAL DEVELOP A PROCESSING FACILITY TO INCREASE SALES PRICE • Upgrading un-processed Increase graphite to battery-quality graphite increases the Sales selling price from approx. Revenue $2,000 per tonne to $10,000 per tonne Develop a • Develop a 50,000 tpy processing facilit
Slide 18: Capital Structure
CAPITAL STRUCTURE TIGHT STRUCTURE WITH INSTITUTIONAL SPONSORSHIP Share Structure Experienced management team entrenched in Sri Lanka with experience Common Shares 34,848,939 building graphite mines Warrants @ C$0.15 1,699,787 Significant cash-flow potential with ability Options avg @ $0.09 3,250,000
Slide 19: Contact Us
CONTACT US MANAGEMENT: Don Baxter, Chief Executive Officer don.baxter@techcarb.com TSX.V: AGT OTCQB: AGRTF WWW.APPLIEDGRAPHITE.COM 20
Applied Graphite Technologies — Investor Presentation (November 2025) on 6ix