Renascor Resources (RNU) Investor update summary

Graphite market and supply strategy

• China supplies ~99% of PSG used in anodes; pairing Australian PSG with established ex-China anode makers is presented as a route to diversify supply.

• Anode demand grew at a 42% CAGR in 2020–2025, with 4.9 Mt projected by 2030; meanwhile, ex-China anode capacity share fell from 12.4% in 2020 to 5.6% in 2025.

• Natural graphite represented 44% of the 2025 ex-China anode market, supporting demand for competitive PSG supply as producers expand capacity outside China.

Siviour project readiness and economics

• Siviour has a 61.8 Mt ore reserve grading 7.0% TGC, containing 4.3 Mt graphite; it is described as the second-largest Proven Reserve globally and the largest reported outside Africa.

• DFS and major regulatory approvals are complete; early site works and long-lead procurement are underway, with an Indigenous Land Use Agreement and land arrangements in place.

• The integrated project DFS estimates A$1.5B after-tax NPV10, 26% after-tax IRR, A$215m upstream capex, A$395m downstream capex and 50 ktpa initial PSG production.

• Low-cost Siviour feedstock and HF-free purification underpin the targeted cost position; Benchmark Mineral forecasts the lowest C3 cost among ex-China PSG projects.

PSG demonstration and commercial progress

• The Adelaide demonstration facility is operating; batch trials using third-party graphite produced 99.97% C PSG, above the 99.95% battery-industry purity requirement.

• Planned work includes further trials using Siviour graphite, customer qualification samples and multi-tonne continuous production trials; the reported batch result does not establish sustained commercial-scale performance.

• Non-binding offtake commitments are in place with POSCO, Mitsubishi Chemical and Hanwa; long-term pricing arrangements are being pursued to support binding agreements and project finance.

• Cash was A$94m at 30 June 2026; additional support includes a conditional A$185m Critical Minerals Facility loan and an A$5m government grant for the demonstration facility.

• Next priorities are customer qualification and process-cost validation, progressing offtake terms and advancing government funding, project finance and strategic partnerships toward FID.