Ecograf Ltd. · ASX:EGR
Ecograf — Investor Presentation (September 2026)
41 slides from Ecograf's investor presentation, September 2026
Slide 1: Corporate Presentation September 2026
September 2026 Corporate Presentation HFfree Battery Anode Materials for the Lithium-ion Battery Market Cleaner Chemistry. Lower Cost. Scalable Supply. ASX: EGR FSE: FMK
Slide 2: Important Notice and Disclaimer
Important Notice and Disclaimer This presentation (Presentation) has been prepared by EcoGraf Limited (ACN 117 330 757) (EcoGraf or Company) in connection Not for distribution or release in the United States with its proposed underwritten equity capital raising consisting of a share purchase plan to
Slide 3: Important Notice and Disclaimer
Important Notice and Disclaimer Production targets and financial information Lead Manager Disclaimer Production targets and forecast financial information derived from the production targets included in this presentation are The SPP (as defined in this Presentation) is being underwritten by Canaccor
Slide 4: Corporate Snapshot
Corporate Snapshot Cash at Hand Stock Listings Major shareholders A$3.8 million ASX: EGR FSE: FMK Australian Securities Exchange Frankfurt Stock Exchange (Börse Frankfurt) Market Cap: 45.3% A$129.2 million HFfree 49.8% Facilities 52-week range: EU 4.9% A$0.22 - A$0.680 US DEMAND DEMAND ASIA Board &
Slide 5: Our Board and Management Team
Our Board and Management Team BOARD & DIRECTORS ADVISORY BOARD CHRISTER MHINGO DR PETER SCHUHMACHER ROBERT PETT ANDREW SPINKS JOHN CONIDI SVEN OLSSON In Country Director Advisory Board Non-Executive Chair Managing Director Non-Executive Director Non-Executive Director MANAGEMENT Experienced leadersh
Slide 6: Strategic Vertically Integrated Business
Strategic Vertically Integrated Business Upstream Epanko Mine Midstream Mechanical Shaping Facility Large-scale, development-ready graphite Value-addition processing in Tanzania through the micronising and spheronising of natural project in Tanzania, offering compelling graphite concentrate. This me
Slide 7: Lithium-ion Battery Anode Cell Manufacturing
Lithium–ion Battery Anode Cell Manufacturing From mining to integrated battery materials Value, margins and strategic importance increases Downstream Global Battery Manufacturing Markets MINING MECHANICAL PURIFICATION COATING ANODE CELL SHAPING MANUFACTURING • Extraction • Micronisation • Chemical •
Slide 8: Lithium-ion Battery Manufacturing Hubs (Ex-China)
Lithium-ion Battery Manufacturing Hubs (Ex-China) Finland Sweden Germany Poland Canada France Compelling new global Spain Hungary South Korea business opportunity to Portugal Japan develop raw material and U.S. Morrocco anode supply chains India Vietnam In 2025 the battery market value was US$172.34
Slide 9: Natural High-Purity Graphite and Battery Anode Demand
Natural High-Purity Graphite and Battery Anode Demand Natural global graphite demand is NATURAL GRAPHITE DEMAND BY END-USE SECTOR forecast to significantly increase through the high-purity graphite and battery anode ’000 Tonnes Batteries Refractories Foundries & castings Friction Products market Rec
Slide 10: Geopolitical Drivers for New Battery Material Supply
Geopolitical Drivers for New Battery Material Supply GLOBAL LEGISLATION DRIVING NEW ANODE MATERIAL SUPPLY GLOBAL EV SALES FORECAST, BY MARKET China Europe US Chinese Restrictions 70 RoW Japan India • China dominates the graphite market with near 100% 60 Global EV sales using their hydrofluoric acid
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: Strategic Project Equity Process and Value Proposition
Strategic Project Equity Process and Value Proposition Focus is on securing strategic project equity for Stage 1 of the Epanko Project through partnerships in Midstream and Downstream developments in the lithium-ion battery manufacturing hubs Process progressing with large pool of target groups incl
Slide 13: Upstream Epanko Mine
Upstream Epanko Mine KfW IPEX-Bank mandated for UFK Loan up to PRIORITIES US$105M for development of Epanko • Stage 1 - 73,000tpa BFS complete Debt financing program progressing • ‘Life of Mine’ Special Mining Licence (SML) Mwanza Project execution planning issued Arusha • Rigorous due diligence pro
Slide 14: 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 ORE RESERVE GRADE AVERAGE THICKNESS 8.2% 200 300 21 57 % 250 200 150 290 TGC 100 MILLION MILLION METR
Slide 15: Epanko BFS Key Highlights for Stage 1 – 73,000tpa
Epanko BFS Key Highlights for Stage 1 – 73,000tpa Low-cost, high margin graphite project with market-leading technical advantages and rigorous independent bank due diligence complete US$516M 31.1% 73,000tpa Pre-tax NPV10% Internal rate of return Stage 1 production – First 15 Years US$181.2M US$85.7M
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 feedstock MINE LAYOUT for the Company’s downstream development • Extensive engineering studies, drilling and resource evaluation undertaken that’s delivered a new mine design w
Slide 17: Epanko Processing Plant Flythrough
Epanko Processing Plant Flythrough PLANT FLYOVER VIDEO > https://tinyurl.com/ypmd7vme PROCESSING PLANT VIDEO > https://tinyurl.com/4k859b2h ASX:EGR FSE: FMK September 2026 www.ecograf.com.au 17
Slide 18: Midstream Mechanical Shaping Facility
Midstream Mechanical Shaping Facility Positioning to be first development PRIORITIES supporting Tanzanian Government’s Secure financing arrangements ‘Vision 2030’ value-addition strategy • Ifakara identified as the preferred location Mwanza Finalise offtake agreements Arusha • 75km from Epanko mine
Slide 19: Mechanical Shaping Facility
Mechanical Shaping Facility • Accelerated development pathway through completed engineering studies • 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 • European Investment Bank g
Slide 20: Product Qualification Facility (PQF)
Product Qualification Facility (PQF) Jointly funded under the Australian Government’s A$48.9 million Critical Minerals Development Program, with EcoGraf receiving A$2.9 million in grant funding for the PQF PQF piloting facility developed using r EcoGraf HFfree® Chemical Purification Technology ✓ Con
Slide 21: Downstream Chemical Purification Facilities
Downstream Chemical Purification Facilities Industry-leading low-cost driving growth, PRIORITIES supported by legislation advancing Formalise strategic partnerships for sustainable, diversified supply chains commercial scale production • Product qualification facility (PQF) programs Evaluate develop
Slide 22: HFfree Battery Anode Material Development History
HFfree Battery Anode Material Development History Extensive testwork, bench scale and piloting programs completed underpins and derisks EcoGraf HFfree® processing technology PQF Delivers HFfree Cost Major Project Status Competitiveness Approved by Australian Government Australian Patents 1 & 2 Grant
Slide 23: EcoGraf HFfree Process Advantages
EcoGraf HFfree® Process Advantages HIGHLY EFFECTIVE CHEMICAL PROCESS TO REMOVE IMPURITIES FROM NATURAL GRAPHITE & CARBON MATERIALS Proprietary technology Low-cost Intellectual property security process Competitive economics advanced including: compared to the other • Europe, Malaysia, South Korea, C
Slide 24: Downstream Financial Metrics for 25,000tpa Facility
Downstream Financial Metrics for 25,000tpa Facility Financial metrics based on U.S. location confirms high margin business US$282M 39% 25,000tpa Pre-tax NPV10% Internal rate of return Stage 1 production – First 15 Years US$95M US$42M US$478/t Stage 1 Capex (real) Annual EBITDA (real) Processing cost
Slide 25: EcoGraf HFfree Purification Delivers Industry-leading Cost
EcoGraf HFfree® Purification Delivers Industry-leading Cost Significant cost advantage confirmed via PURIFICATION OPERATING COST COMPARISON - U.S. LOCATION updated benchmarking study 1,200 • Updated cost comparison based on global engineering & construction consultancy, comparing EcoGraf HFfree® 1,0
Slide 26: Leading Lowest-Cost to Drive Production Growth
Leading Lowest-Cost to Drive Production Growth Epanko feedstock combined with Industry Leading Lowest-Cost1 EcoGraf HFfree® Midstream and HFfree delivers significant cost advantage as alternative to peers Feedstock Cost $544 Mechanical Shaping Cost $419 • EcoGraf positioned to be the leading lowest-
Slide 27: HFfree Development Pathways on a Global Scale
HFfree Development Pathways on a Global Scale Partnerships through Strategic Project Equity Process to Drive Downstream Chemical Purification Facilities in the Lithium-ion Battery Manufacturing Hubs GOVERNMENT SUPPORT EU DEMAND Germany, France, Poland, Hungary, Spain, Portugal, Sweden, Finland U.S.
Slide 28: Golden Frontier – Value-Add Gold Assets
GOLDEN FRONTIER Value-Add Gold Assets Decades of in-country and geological expertise allows us to explore Tanzania’s gold frontiers ASX: EGR FSE: FMK
Slide 29: Golden Frontier – Investment Highlights
Golden Frontier – Investment Highlights US$9m AngloGold Ashanti farm-in agreement at Golden Eagle commenced Southern Frontier delivering phenomenal results including 4.45 g/t gold rock chip & 3 km anomaly at Hazina Projects proximal to gold mining centres, including high-grade Winston gold deposit,
Slide 30: Targeting Proterozoic Gold Mineralisation - Frontier Projects
Targeting Proterozoic Gold Mineralisation - Frontier Projects OUR PROJECTS N Northern Frontier Major Gold Projects NORTH MARA +70 Moz gold Archean Golden Frontier Project Lake Victoria Goldfield Archean Gold Project GEITA Proterozoic Gold Project NYANZAGA Proterozoic Terrain Archean Terrain BUCKREEF
Slide 31: Golden Eagle – Archean Gold
Golden Eagle – Archean Gold • 5-year US $9m farm-in agreement with AngloGold Ashanti (AGA) commenced: Tenure Golden Eagle • AGA have right to earn 70 % of the Golden Eagle Project Prospecting Licences by spending US$8.9m over five Tanzania years on the licences, with the Company retaining 30% • The
Slide 32: Southern Frontier – Targeting
Southern Frontier – Targeting AN ACTIVE AREA OF ARTISANAL GOLD MINING Tanzania N • Initial high-priority targets already delivering high-grade N rock chip and stream sediment results Sothern Frontier • Active artisanal gold mining operations in the tenure, targeting gold-rich alluvial gravels • Maid
Slide 33: Western Frontier Gold & Copper Prospectivity
Western Frontier Gold & Copper Prospectivity PROXIMAL TO THE MPANDA GOLD MINING DISTRICT Golden Frontier Tenure N Katavi Gold • Tenure covers multiple historical gold and copper occurrences within Mine its 1,150 km2 of ground Historic Gold RMI Cu-Au Occurrences • Historic Au/Cu occurrences, plus str
Slide 34: Northern Frontier
Northern Frontier A PRISTINE SEARCH SPACE FOR GOLD N • 10 priority gold prospects for maiden field programme • Selected from geomorphology and geophysical Northern Frontier mapping and interpretation, with targets Tanzania including: • Shear zones, Gossans, Quartz veining & Palaeochannels • Region h
Slide 35: Next Steps: Fast Track to Drilling & the Next Gold Discovery
Next Steps: Fast Track to Drilling & the Next Gold Discovery Gold strategy leverages EcoGraf’s substantial Tanzanian experience, established in-country capability and geological expertise GOLDEN EAGLE SOUTHERN FRONTIER WESTERN FRONTIER NORTHERN FRONTIER • The AGA farm-in has • 4.45 g/t Au rock chip
Slide 36: International offer restrictions
International offer restrictions This document does not constitute an offer of New Shares of the Company in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any person, and the New Shares may not be offered or sold, in any country Singapore outsi
Slide 37: International offer restrictions
International offer restrictions Tanzania In accordance with the Capital Markets and Securities Act, CAP. 79 R.E. 2002 of Tanzania, a person is restricted from issuing or causing to be issued an advertisement offering securities without the approval of the Capital Markets and Securities Authority (C
Slide 38: Key Risks
Key Risks and regulatory developments, complies with applicable laws and regulations, and seeks to maintain strong relationships with As with any investment in securities, there are risks involved. This section identifies the major areas of risk associated with an relevant government agencies and co
Slide 39: Key Risks
Key Risks Environmental, social and governance risk The Company is exposed to environmental, social and governance (ESG) risks that could adversely affect its reputation, stakeholder relationships, financing activities, project approvals, operational performance and ability to achieve strategic obje
Slide 40: Appendix 1
Appendix 1 Table 1 – Epanko MRE >5.5% TGC JORC Tonnage Grade Contained Graphite Classification (Mt) (%TGC) (Kt) Measured 32.3 7.8 2,500 Indicated 55.7 7.5 4,200 Measured+ Indicated 88.0 7.6 6.710 Inferred 202.8 7.2 14,310 Total 290.8 7.2 21,010 Notes for Table 1: Tonnage figures contained within Tab
Slide 41: The future is electric with EcoGraf HFfree purification and Tanzanian graphite
The future is electric with EcoGraf HFfree® purification and Tanzanian graphite 18 Richardson Street, West Perth WA 6005 info@ecograf.com.au www.ecograf.com.au ASX: EGR FSE: FMK