EcoGraf HFfree™ Proprietary Purification Achieves 4N 99.99% Carbon

Key Highlights:

• Purification of an unpurified natural spherical graphite (SPG) has now achieved 'four nines' known as 4N purity - 99.99% carbon, which exceeds the standard customer industry requirement of 99.95% carbon for natural spherical graphite
• 4N achieved through on-going purification optimisation testwork resulting in reduction of total impurity levels to less than 100ppm
• Process improvements are expected to reduce both capital and operating costs

These improvements are being adopted by the Product Qualification Facility ('PQF') which is a 'State of the Art' facility utilising EcoGraf HFfree™ Proprietary Technology that will produce high purity battery anode material for supply to the global battery and EV market (refer announcement dated 26 March 2024 titled 'Product Qualification Facility Commissioning Commenced'.

Table 1 summarises the latest purification results, showing carbon grade and impurity concentrations for major elements from an unpurified SPG with an initial grade of 96.73% carbon.

Table 1: Summary of key major elements.

This notable reduction in impurities has been achieved through additional process improvements, also resulting in reduced capital and operating costs. These results will be incorporated within the independent engineering study on benchmarking the EcoGraf HFfree™ proprietary process against the known purification processes, which is expected to be completed shortly.

This announcement is authorised for release by Andrew Spinks, Managing Director.

For further information, please contact:

INVESTORS

Andrew Spinks

Managing Director

T: +61 8 6424 9002

About EcoGraf

EcoGraf is building a vertically integrated battery anode materials business to produce high purity graphite products for the lithium-ion battery and advanced manufacturing markets. Over US$30 million has been invested to date to create a highly attractive graphite mining and mineral processing business.

In Tanzania, the Company is developing the TanzGraphite natural flake graphite business, commencing with the Epanko Graphite Project, to provide a long-term, scalable supply of feedstock for EcoGraf™ battery anode material processing facilities, together with high quality large flake graphite products for specialised industrial applications.

Using its environmentally superior EcoGraf HFfree™ purification technology, the Company will upgrade the flake graphite to produce 99.95%C high performance battery anode material to supply electric vehicle, battery and anode manufacturers in Asia, Europe and North America as the world transitions to clean, renewable energy.

Battery recycling is critical to improving supply chain sustainability and the Company's successful application of the EcoGraf™ purification process to recycle battery anode material provides it with a unique ability to support customers to reduce CO₂ emissions and lower battery costs.

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