Talga Group (TLG) Status Update summary

Business model and market positioning

• Vertically integrated from mine to battery anode, rare outside Asia, with operations in Sweden, a secure jurisdiction.

• Strategic project status under EU Critical Raw Materials Act and Net Zero Industry Act, with 100% asset ownership.

• Focus on high-power, premium applications and low-emission production, with emissions at least 92% lower than incumbents.

• Growing demand from EVs, stationary storage, data centers, AI, and defense sectors.

• Largest and highest-grade graphite resource in Europe, producing battery-grade anode material.

Operational progress and product development

• Continuous small-scale mining and anode production at EVA Plant, supporting customer qualification.

• Advanced in recycling graphite from black mass, co-funded by UK and EU, with strong partnerships and regulatory tailwinds.

• Ability to replicate anode plant design globally where black mass supply exists.

• Silicon anode product (Talnode-Si) progressing through customer testing and optimization.

• Accredited to ISO standards, with proprietary technology and low-cost, clean power supply.

Regulatory, funding, and permitting updates

• EU innovation grant funding is milestone-based and aligned with project timelines; negotiations ongoing for further support.

• Mining concession awaiting ministerial decision; if granted, exploitation permit becomes legally effective with no further appeals except possible judicial review.

• Off-take discussions have continued during permitting delays, allowing broader customer qualification.

• Short-term funding managed through equity markets; long-term strategy focuses on project-level equity, debt, and grants.

• Vittangi expansion scoping study delayed to prioritize immediate project execution and incorporate process optimizations.