Ecograf Ltd. · ASX:EGR
Ecograf — Investor Presentation (March 2026)
35 slides from Ecograf's investor presentation, March 2026
Slide 1: Updated BFS Corporate Presentation
March 2026 Updated BFS Corporate Presentation Developing a Sustainable Graphite for Global Supply Chains ASX: EGR FSE: FMK
Slide 2: Disclaimer
Disclaimer Securities Disclaimer Competent Person and Compliance Statements This document is for informational purposes only and does not constitute an offer to sell, or solicit to purchase, any securities. Information in this presentation relating to production targets and forecast financial inform
Slide 3: Corporate Snapshot
Corporate Snapshot Cash at Hand1: Stock Listings Major shareholders A$8.1 million ASX: EGR FSE: FMK Australian Securities Exchange Frankfurt Stock Exchange (Börse Frankfurt) Market Cap2: 46% A$180.0 million 49% Purification Anode Ordinary Shares Facilities Recycling 5% on Issue2: EU DEMAND 461.55 mi
Slide 4: Our Business
Our Business EcoGraf Vertically Integrated Battery Anode Materials Business Epanko Graphite Project Mechanical Shaping Facility HFfree Purification Facilities Anode Recycling UPSTREAM MIDSTREAM DOWNSTREAM RECYCLING ✓ Superior Graphite Flake ✓ High Yields ✓ Low-cost Chemicals ✓ Low-cost Chemicals ✓ H
Slide 5: 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 Increased % natural graphite to be used in EV LIB anod
Slide 6: Geopolitical Drivers for New Anode Material Supply
Geopolitical Drivers for New Anode Material Supply GLOBAL LEGISLATION DRIVING NEW ANODE MATERIAL SUPPLY2 GLOBAL EV SALES FORECAST, BY MARKET1 China Europe US Chinese Restrictions 70 RoW Japan India • China dominates the graphite market with near 60 EV sales grew 100% using their HF purification proc
Slide 7: 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 systems, submarines, and electronic warfare technologies. Germany currently relies heavily on imports, esp
Slide 8: Epanko Graphite Project
UPSTREAM Epanko Graphite Project KfW IPEX-Bank mandated for UFK Loan up to US$105M for development of Epanko • Stage 1 - 73,000tpa BFS complete Mine and Mineral Processing • ‘Life of Mine’ Special Mining Licence Facility to Produce Natural (“SML”) issued Flake Graphite • Rigorous due diligence progr
Slide 9: BFS Key Highlights
BFS Key Highlights Strong Market Position Robust Economics & Scale All BFS financials are reported as nominal, unless flagged as real. • Binding/In-principle offtake covering 40,000tpa • 73,000tpa production for first 15 years • Additional 33,000tpa expected to convert at production • Ore Reserve: 1
Slide 10: BFS Metrics
BFS Metrics Market Leading Graphite Project backed by exceptional economics US$516M 31.1% 73,000tpa Pre-tax NPV10% Internal rate of return Stage 1 production US$181.2M US$85.7M 390,000tpa Stage 1 Capex (real) Annual EBITDA (real) Expansion production US$1,746/t US$544/t 22 years Basket Graphite Pric
Slide 11: Structured Project Financing Strategy Advancing
Structured Project Financing Strategy Advancing • Targeting optimal mix of senior debt, equity and strategic participation aligned with international project finance standards • KfW IPEX-Bank leading US$105M senior debt under German Government UFK program for Stage 1 (73,000 tpa) • Project meets key
Slide 12: BFS Outcomes
BFS Outcomes Higher Production, Improved Margins, Key operating outcomes Capital Efficiency Maintained Input Unit 2025 BFS • 73,000tpa Stage 1 — scaled up with no Development period weeks 72 additional plant capex Mine life years 22 Average annual throughput (Oxide) t 850,000 • +21.7% throughput dri
Slide 13: Updated Ore Reserve
Updated Ore Reserve Expanded Reserve Supporting Project Financing • 16.7Mt @ 8.2% TGC for 1.37Mt contained PROVED PROBABLE TOTAL graphite JORC Tonnes Grade Cont. Tonnes Grade Cont Tonnes Grade Cont • 57% Proven Ore Reserve for the first 10 Classification (Mt) (% TGC) (Kt) (Mt) (% TGC) (Kt) (Mt) (% T
Slide 14: Technical Achievements
Technical Achievements Scale, Quality and Mine Flexibility Enable Long-Term Cost Advantage Epanko Stage 1 LOM Process Plant Feed • 290.8Mt @ 7.2% TGC for 21.0Mt Oxide Fresh Trans Plant Feed Grade contained graphite 900,000 12.0 • Defined from 13,000m+ drilling plus 800,000 10.0 integrated geophysics
Slide 15: Capital and Operating Costs
Capital and Operating Costs Higher Production, Improved Margins, Capital cost estimate summary Capital Efficiency Maintained Section Description Total US$M Construction Management and Operation Camp 10.6 Construction and Mining Camp 3.0 Stage 1 Upgrade EPCM Cost 15.4 • Increased to 73,000tpa (from 6
Slide 16: Epanko - Largest Development Ready Resource in Africa
Epanko - Largest Development Ready Resource in Africa • Epanko will provide long-term scalable lowest-cost natural graphite Mine Layout feedstock for the Company’s downstream development • Extensive engineering studies, drilling and resource evaluation undertaken that’s delivered a new mine design w
Slide 17: The Epanko Graphite Project
The Epanko Graphite Project 17
Slide 18: 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 A green circle with a white arrow in it A green circle with a white arrow in it Description automatically generated Description automatically generated PLAN
Slide 19: 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 390,000tpa 400,000 Production Scenario 350,000 300,000 Individual Cumulative 250,000 Stage 1 73,000tpa 73,000tpa Output (Ton
Slide 20: Epanko Supported by Existing Infrastructure
Epanko Supported by Existing Infrastructure POWER Julius Nyere Hydroelectric Ifakara Substation – EU Funded Power Project • Epanko Stage 1 requires approximately 2.8MW of grid power • Ifakara substation, funded by the European Union, was commissioned in 2024 • Power supply agreement is being finalis
Slide 21: Epanko Project Advantages
Epanko Project Advantages Key advantages to drive lowest cost feedstock for lithium-ion battery market TRANSPORT DISTANCE 450km TO PORT EPANKO MINE 75km TO RAIL MINERAL RESOURCE ESTIMATE ORE RESERVE GRADE AVERAGE THICKNESS 8.2% 200 300 21 250 200 150 290 TGC 100 MILLION MILLION METRES 50 TONNES TONN
Slide 22: 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 Higher grade means less impurities to remove during purification process and graphite market hierarchy, that higher grade can repl
Slide 23: Our Tanzanian Team Delivering Results
Our Tanzanian Team Delivering Results 23
Slide 24: Corporate Commitment to Leading ESG Standards
Corporate Commitment to Leading ESG Standards Our team is committed to the highest standards in terms of environment, social and governance responsibility, including developing and implementing planning frameworks that are aligned with the following IFC Performance Standards (“IFC PS”) • Equator Pri
Slide 25: 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 • Road construction – 3.5km • Construction of additional buildings for the Epanko
Slide 26: CSR Commitment: Contributing to Tanzania
CSR Commitment: Contributing to Tanzania Employment & Workforce Local Procurement Economic Contribution PreIWD Uplifting Women ~300–500 direct jobs across 60–70% of operating spend $3 billion in-country economic 30 women miners trained in construction and operations directed to in-country value over
Slide 27: Mechanical Shaping Facility
MIDSTREAM Mechanical Shaping Facility Positioning to be first development that supports Tanzanian Governments ‘Vision 2030’ value-addition strategy Mechanical shaping of natural • Ifakara identified as the preferred location flake graphite to produce Spherical Graphite (“SpG”) • 75km from Epanko min
Slide 28: Mechanical Shaping Facility Design
Mechanical Shaping Facility Design • Extensive testwork programs delivering high yields of ~60% • Independent engineering study completed for 20,000tpa Stage 1 Facility Cost Operating Cost US$58.6m US$419/t • Cooperation Agreement with the European Investment Bank (EIB) for the provision of technica
Slide 29: HFfree Purification Facilities
DOWNSTREAM HFfree Purification Facilities Industry-leading lowest cost to drive new developments and expansion supported by legislation to encourage EcoGraf HFfree® sustainable supply chains Purification of SpG to • Product qualification facility (“PQF”) produce purified SpG programs have delivered
Slide 30: EcoGraf HFfree Process Advantages
EcoGraf HFfree® Process Advantages HIGHLY EFFECTIVE CHEMICAL PROCESS TO REMOVE IMPURITIES FROM NATURAL GRAPHITE & CARBON MATERIALS Low cost Proprietary technology Competitive economics • Europe patent submission compared to the other • U.S. patent granted No. 11,702342. purification methods • Austra
Slide 31: EcoGraf HFfree Purification Delivers Industry-leading Cost
EcoGraf HFfree® Purification Delivers Industry-leading Cost Significant cost advantage confirmed via PURIFICATION OPERATING COST COMPARISON - US LOCATION updated benchmarking study 1,200 • Updated cost comparison based on initial global 1,000 engineering & construction consultancy, comparing EcoGraf
Slide 32: 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 Major Project Status Australian Patent Approved by Australian Granted Government Successful PQ
Slide 33: Anode Recycling
RECYCLE Anode Recycling EcoGraf HFfree® purification supports closed 3 loop recycling and battery circular economy • Essential for maximising battery manufacturer EcoGraf HFfree® purification processing efficiency and compliance with technology applied to regulatory waste management support anode re
Slide 34: EcoGraf's Development Pathways Advancing
EcoGraf’s Development Pathways Advancing US MARKET EU MARKET ASIA MARKET (Ex-China) Tariffs driving new supply opportunities EcoGraf recognised as EU Priority Project Largest anode manufacturing hub Positive feedback on DoD White Paper EU exploring project support mechanisms Strong raw m
Slide 35: The future is electric with EcoGraf HFfree purification and Tanzanian graphite
Subscribe and ASX: EGR FSE: FMK follow for the latest 18 Richardson Street, West Perth WA 6005 info@ecograf.com.au. www.ecograf.com.au The future is electric with EcoGraf HFfree® purification and Tanzanian graphite