EcoGraf (EGR) Investor presentation summary

Integrated strategy and markets

• The value chain spans Tanzanian graphite mining and mechanical shaping, HFfree purification, battery anode materials and recycling.

• Natural graphite demand is forecast to exceed 3.0Mt in 2030, with ~80% expected for battery graphite.

• The 2025 battery market was valued at US$172.34bn, with over US$300bn of forecast capex required by 2030.

Epanko project

• Stage 1 BFS targets 73,000tpa over the first 15 years; initial mine life is 22 years and Ore Reserve is 16.7Mt at 8.2% TGC.

• Stage 1 metrics include US$516m pre-tax NPV10%, 31.1% IRR, US$181.2m capex and US$85.7m annual EBITDA, all in real terms.

• Potential 20% production uplift to 87,600tpa reduces first-10-year C1 cost 5.8% to US$512.3/t; estimated US$12m capex increase is within BFS contingency.

• Offtake includes 20,000tpa binding with tk accelis and a 20,000tpa term sheet with a European partner, increasing to 40,000tpa from Year 5.

• KfW IPEX-Bank is mandated for up to US$105m of UFK senior debt for Stage 1; independent due diligence is complete.

Downstream technology and economics

• Product Qualification Facility results achieved 4N purity with total impurities below 100ppm and demonstrated processing of other SPG feedstocks.

• The 25,000tpa HFfree case shows US$282m pre-tax NPV10%, 39% IRR, US$95m capex, US$42m annual EBITDA and US$478/t processing cost.

• Updated benchmarking puts HFfree operating cost at US$478/t, over 30% lower than the prior estimate and 34% below hydrofluoric-acid purification.

• Integrated estimated cost is US$1,441/t, presented as up to 40% below comparable peers.

• RecoBAM from recycled graphite is reported at 1.6–2.2kg CO₂e per kg CSPG.