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ASX: EGR EcoGraf’sHFfree Vertically Integrated Supply Chain for Lithium-ion Battery Market. 27 October 2026 FSE: FMK 2026 IMARC Conference
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www.ecograf.com.auASX:EGR FSE: FMK October 2026 2 Securities Disclaimer This document is for informational purposes only and does not constitute an offer to sell, or solicit to purchase, any securities. Such offer can be made only through proper subscription documentation and only to investors meeting strict suitability requirements. Any failure to comply with these restrictions may constitute a violation of applicable securities laws. Forward looking statements Various statements in this document constitute statements relating to intentions, future acts and events. Such statements are generally classified as “forward looking statements” and involve known and unknown risks, uncertainties and other important factors that could cause those future acts, events and circumstances to differ materially from what is presented or implicitly portrayed herein. The Company gives no assurances that the anticipated results, performance or achievements expressed or implied in these forward-looking statements will be achieved. Production targets and financial information Production targets and forecast financial information derived from the production targets included in this presentation are extracted from previous market announcements dated 25 February 2026 titled “Updated Bankable Feasibility Study” for the 73,000tpa base case production target and 2 October 2026 titled “Epanko Value Engineering” for the potential 20% increase of 87,600tpa. Both are based off Ore Reserves derived from Mineral Resource estimates comprising 43% Measured Resources and 57% Indicated Resources for an initial 22-year life of mine. No Inferred Resources have been included in the Ore Reserve and the production targets. Inferred Resources have only been mined incidentally with the Measured and Indicated Resources and treated as waste for scheduling purposes. The Company confirms that all material assumptions underpinning the production targets and forecast financial information derived from the production targets set out in the previous market announcements continue to apply and have not materially changed. The Ore Reserves and Mineral Resource estimates underpinning the production targets have been prepared by a Competent Person in accordance with the requirements in Appendix 5A of the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code). The reference in this presentation to a 25,000tpa HFfree Battery Anode Material facility relate to the production target and the forecast financial information derived from it was first released on 13 August 2025“HFfree Delivers Industry-Leading Low Cost and Stage 1 NPV of US$282m (A$433m)”. The Company confirms that all material assumptions underpinning the production target and the forecast financial information derived from it continue to apply and have not materially changed. Competent Person and Compliance Statements The information in this presentation that relates to Exploration Results for the Golden Eagle Project including the Hazina Gold Prospect was first announced on 20 January 2026. The Company confirms it is not aware of any new information or data that materially affects the information included in the previous market announcement. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the previous market announcements. Information in this presentation that relates to the Mineral Resource estimates have been extracted from the previous market announcement dated 11 March 2024, titled“127% Increase in the Epanko MineralResource”. Information in this presentation that relates to the Ore Reserve have been extracted from the previous market announcement dated 25 February 2026, titled“Updated Epanko Bankable FeasibilityStudy”. EcoGraf confirms that it is not aware of any new information or data that materially affects the information included in the previous market announcements and EcoGraf confirms that all material assumptions and technical parameters underpinning the abovementioned Mineral Resource estimate and Ore Reserve continue to apply and have not materially changed. EcoGraf confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the previous market announcements. Additional Information This presentation should be read in conjunction with other periodic and continuous disclosure announcements lodged by EcoGraf Limited with the ASX, which are available onEcoGraf’s website at https://www.ecograf.com.au/asx-releases/ This Presentation has been approved for release by Andrew Spinks, Managing Director. Disclaimer
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www.ecograf.com.auASX:EGR FSE: FMK October 2026 3 ASX: EGR Australian Securities Exchange Stock Listings FSE: FMK Frankfurt Stock Exchange (Börse Frankfurt) 1 HQ & PQF EpankoGraphite Project Mechanical Shaping Facility HFfree Facilities TANZANIA EU DEMAND ASIA DEMAND US DEMAND Cash at Hand A$3.8 million Market Cap: A$114.6 million 52-week range: A$0.19 - A$0.680 Ordinary Shares on Issue: 477.55 million shares Korea, Japan, Vietnam, Malaysia Board & Management Frankfurt - BNP Nominee Other Shareholders Major shareholders 49.8% 4.9% 45.3% Market Index, “Ecograf Ltd (ASX: EGR)”, accessed 9 October 2026. Corporate Snapshot World Class Resource. Multiple HFfree Facilities. Grant Funding: EIB -€2.0 million (A$3.2 million) ASX announcement “June 2026 Quarterly Activities Report and Appendix 5B”, 30 July 2026.
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www.ecograf.com.auASX:EGR FSE: FMK October 2026 4 Our Board and Management Team ROBERT PETT Non-Executive Chair ANDREW SPINKS Managing Director JOHN CONIDI Non-Executive Director SVEN OLSSON Non-Executive Director BOARD & DIRECTORS JOHN CIGANEK GM – Corporate Development CHRISTER MHINGO In Country Director MARIA DU PLOOY GM – Finance and Joint Company Secretary EXECUTIVE MANAGEMENT DR PETER SCHUHMACHER Advisory Board NATALIE TEO Company Secretary ADVISORY BOARD DAVID DRABBLE Chief Geologist Experienced leadership driving the development of a strategically positioned critical mineral business serving global battery and industrial markets
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www.ecograf.com.auASX:EGR FSE: FMK October 2026 5 Strategic Vertically Integrated Business Upstream Epanko Mine Large-scale, development-ready graphite project in Tanzania, offering compelling economics and new supply chains for clean energy, defence and industrial markets Midstream Mechanical Shaping Facility Anode Recycling EcoGraf HFfree® technology to recover critical minerals for a circular battery economy, helping customers reduce CO₂ and lower battery costs Value-addition processing in Tanzania through the micronising and spheronising of natural graphite concentrate. This mechanical process is the first step in producing battery anode material for lithium-ion batteries. The facility will have the capability to process multiple feedstocks for global export in addition to provide supply EcoGraf’s Downstream facilities Downstream Purification EcoGraf HFfree® innovative clean technology producing 99.95%C high-performance battery anode material for the lithium-ion battery market. The proprietary process delivers industry-leading lowest-cost and is scalable to align with the forecast demand increase. World Class Graphite Resource Progressively Feeding Multiple Downstream Purification Facilities, Creating A Scalable Global Battery Materials Business. Gold assets - large-scale exploration tenure in Tanzania with multiple gold opportunities across proven mineral belts, providing long- term discovery potential. Exploration Potential
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www.ecograf.com.auASX:EGR FSE: FMK October 2026 6 MINING • Extraction • Processing flotation PURIFICATION • Chemical processing MECHANICAL SHAPING • Micronisation • Spheronisation COATING • Surface coating • Performance enhancement ANODE CELL MANUFACTURING CSPG From mining to integrated battery materials Concentrate (Cg) 95 – 97% C TANZANIA EUROPE / U.S. / ASIA Spherical Graphite (SpG) 97 – 98% C Spherical Purified Graphite (SPG) 99.95+% C CSPG 99.95+% C AAM 99.95+% C Value, margins and strategic importance increases Downstream Lithium–ion Battery Anode Cell Manufacturing Global Battery Manufacturing Markets https://www.deutsche-rohstoffagentur.de/DERA/SharedDocs/Downloads/Rohstoffinformationen/rohstoffinformationen-67_vorversion.pdf?__blob=publicationFile&v=3
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www.ecograf.com.auASX:EGR FSE: FMK October 2026 7 Morrocco Spain Poland Hungary India Japan South Korea Indonesia U.S. Vietnam Canada Portugal France Germany Sweden Malaysia Finland Priority Battery Manufacturing Markets Seeking New Supply Chains Countries Tier 1: Established Cell Manufacturing Markets U.S., Canada, Germany, France, Poland, India, South Korea, Japan Tier 2: Major Growth Markets with Strong Chinese Influence Hungary, Morocco, Indonesia Tier 3: Emerging Cell Manufacturing Markets Spain, Portugal, Sweden, Vietnam, Malaysia, Finland, South Africa In 2025 the battery market value was US$172.34bn, with over US$300bn of forecast capex required by 2030. Compelling new global business opportunity to develop raw material and anode supply chains https://www.cleanbridge.co/insights/energy-transition/cleanbridge-gigafactory-report-2023/executive-overview-gf2023/ Lithium-ion Battery Manufacturing Hubs (Ex-China)
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www.ecograf.com.auASX:EGR FSE: FMK October 2026 8 • Advancing assessment of a preferred German industrial site for a 25,000tpa EcoGraf HFfree® purification facility • Location would support major European battery and EV manufacturing hubs, particularly in Poland and Hungary. • Site selection is being supported by Germany Trade & Invest (GTAI) and industry stakeholders. • EIB grant funding of up to €2 million (A$3.2 million) is supporting downstream battery materials development in Europe. • Recent KfW Research identifies graphite as one of Europe's highest critical raw material supply risks, reinforcing the need for alternative supply chains. • Strategic equity and offtake discussions are progressing to support project funding and commercialisation. • Growing interest in producing battery anode materials, industrial graphite and recycled battery materials for European customers. Supporting Europe's push for secure, sustainable and diversified graphite and battery material supply chains. POLAND: Operating Capacity: ~86 GWh p.a. Planned: 115–126GWh p.a. HUNGARY: Operating Capacity: ~85 GWh p.a. Planned: 250GWh p.a. EcoGraf HFfree® Progresses European Industrial Site GERMANY ASX announcement “EcoGraf HFfree® Progresses German Industrial Site”, 1 October 2026 Benchmark Minerals Intelligence
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www.ecograf.com.auASX:EGR FSE: FMK October 2026 9 Natural High-Purity Graphite and Battery Anode Demand Natural global graphite demand is forecast to significantly increase through the high-purity graphite and battery anode market High-purity graphite and battery anode manufactured from natural flake graphite 2030 forecast over 3.0Mt of natural graphite will be required ~80% for battery graphite market Natural flake graphite is the key raw material used in lithium-ion anode manufacturing Increased % natural graphite to be used in EV lithium-ion battery anodes Growing supply chain security issues (geopolitical tensions, Chinese export controls & trade tariffs) Fastmarket Report, Q1 2026 NATURAL GRAPHITE DEMAND BY END-USE SECTOR ’000 Tonnes 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 0 1,000 2,000 3,000 4,000 5,000 6,000 Batteries Refractories Foundries & castings Friction Products Recarburizing Lubricants Expandables Other
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www.ecograf.com.auASX:EGR FSE: FMK October 2026 10 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 global finance standards: IFC, Equator Principles, GISTM, World Bank EHS • Engagement expanding across KfW Group, EIB and other development finance institutions for potential complementary funding support • Strategic equity process commenced • Successfully completed a A$4.727 million capital raising – September 2026 • €2.0 million (A$3.2 million) European Investment Bank grant-funded workstreams commenced ASX announcement “Successful Completion of $4.727 million Capital Raising”, 7 October 2026
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www.ecograf.com.auASX:EGR FSE: FMK October 2026 11 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 including: Government funds, Chemical, Coating manufacturers, Battery & Cell manufacturers, OEMs, Advanced Material companies Growing demand for high-purity graphite will have a two-fold impact: expanding Downstream facilities in the global battery manufacturing markets and increasing graphite concentrate production capacity across Stages 2–4 of the Epanko Project Phase Graphite Concentrate Downstream 25ktpa Facilities Development Case 73ktpa Stage 2 130ktpa Stage 3 260ktpa Stage 4 390ktpa ASX announcement “Epanko Expansion Supports HFfree Downstream Facilities”, dated 12 November 2025 World Class Resource. Multiple HFfree Facilities. Growing Global Value Creation.
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www.ecograf.com.auASX:EGR FSE: FMK October 2026 12 PRIORITIES Debt financing program progressing Project execution planning KfW IPEX-Bank mandated for UFK Loan up to US$105M for development of Epanko • Stage 1 - 73,000tpa BFS complete with the potential 20% increase to 87,600tpa • ‘Life of Mine’ Special Mining Licence (SML) issued • Rigorous due diligence program complete • Independent Engineer Report (IER) complete • Study for 4 stage expansion complete to > 390,000tpa • RAP planning complete with execution underway • EPCM contract in final stages of negotiation • Compliance with Equator Principles and IFC Performance Standards • 84% - Company ownership & 16% - Government of Tanzania • 20,000 tpa binding offtake with tk accelis Trading GmbH (formerly thyssenkrupp) • 20,000 tpa binding term sheet with a European German Partner (EGP), increasing to 40,000 tpa from Year 5 ADVANTAGES ASX announcement “EcoGraf Pre Development Program Delivers Outstanding Results”, 28 April 2023, ASX announcement “Completion of Major Epanko Environmental and Social Program”, 17 March 2025 ASX announcement “Epanko Expansion Supports HFfreeDownstream Facilities”, 12 November 2025 ASX announcement “Updated Bankable Feasibility Study”, 25 February 2026 ASX announcement “Key German Partner to Double Offtake Volumes”, 12 August 2026 ASX announcement “Updated EpankoValue Engineering Identifies 20% Production Increase”, 2 October 2026 ✓ Superior Graphite Flake ✓ High Ore Grade ✓ High Processing Recoveries ✓ High Grade Concentrate ✓ Low Mining Strip Ratio ✓ Low Energy Cost ✓ Staged Expansion KEY PARTNERS AND SUPPORT Mwanza Arusha SGR Railway SGR Planned Extension Nyerere Hydropower Morogoro Region Morogoro Kidatu Hydropower Mechanical Shaping Facility Epanko Graphite Project Dar es Salaam Upstream EpankoMine
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www.ecograf.com.auASX:EGR FSE: FMK October 2026 13 Key advantages to drive lowest cost feedstock for lithium-ion battery market 450km TO RAIL75km MINERAL RESOURCE ESTIMATE EPANKO MINE High Purity Graphite Concentrate from the Ore Feed 95.5% _97.5% C TO PORT TRANSPORTDISTANCE 63% Greater than 150 microns FLAKE SIZE DISTRIBUTION 300 250 200 150 100 50 0 MILLION TONNES TotalMRE 290 AVERAGE THICKNESS Thicknessof the deposit 21 Contained Graphite MILLION TONNES ORE RESERVE GRADE 8.2% TGC PROCESS RECOVERY 94.7% 0.77: 1 After 10 years. EconomicMeasurement: Amountof Waste to Ore. STRIP RATIO WASTE ORE 57% Ore Reserve Classified Proven (First 10 Yrs) METRES World leading graphite resource ASX announcement “Update Epanko Ore Reserve”, dated 25 July 2024 and “127% Increase in Epanko Mineral Resource”, 11 March 202 4 ASX announcement “Updated Epanko Bankable Feasibility Study”, 25 February 2026 For further information about the Epanko MRE and Ore Reserve, see Appendix 1 ORE RESERVE CONCENTRATION GRADE 200 EpankoProject Advantages
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www.ecograf.com.auASX:EGR FSE: FMK October 2026 14 Epanko BFS Key Highlights for Stage 1 – 73,000tpa 1 US$516M Pre-tax NPV10% 31.1% Internal rate of return 73,000tpa Stage 1 production – First 15 Years US$181.2M Stage 1 Capex & Resettlement Action of US$18.1M (incl. contingencies) (real) US$85.7M Annual EBITDA (real) US$544/t Operating cost (C1 first 10yrs) 22 years Initial mine life 390,000tpa Expansion production 16.7Mt Ore Reserve at 8.2% TGC ASX announcement “Completion of Major EpankoEnvironmental and Social Program”, 17 March 2025. ASX announcement” HFfree Delivers Industry-Leading Low Cost and NPV of US$282m”. 13 August 2025. ASX announcement “Epanko Expansion Supports HFfree Downstream Facilities”, 12 November 2025. Note: The offtake agreement with Thyssenkrupp was first announced in August 2015. ASX announcement “Updated EpankoBankable Feasibility Study”, 25 February 2026. ASX announcement “German Offtake Partner to Double Volumes to 40,000 tpa”, 12 August 2026 Low-cost, high margin graphite project with market-leading technical advantages and rigorous independent bank due diligence complete US$544/t C1 Cost First (10 years) Optimised & Finance Ready • Fully aligned with international project finance & GISTM standards • Environmental & Social approvals aligned with Tanzanian law, IFC & World Bank standards • Debt financing advanced (led by KfW IPEX-Bank) with rigorous and extensive independent due diligence complete • Epanko to be one of lowest cost new supply Strong Market Position • Binding/In-principle offtake/ term sheet for 60,000tpa • Tier-1 lowest-cost new supply for ex-China market • Global leading ESG credentials • Positioned as Africa’s largest graphite producer
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www.ecograf.com.auASX:EGR FSE: FMK October 2026 15 Epanko – Largest Development Ready Resource in Africa MINE LAYOUT VIEW VIDEO > https://tinyurl.com/mwm48tu2 • Epanko will provide long-term scalable lowest-cost natural graphite feedstock for the Company’s downstream development • Extensive engineering studies, drilling and resource evaluation undertaken that’s delivered a new mine design with oxide first mining strategy • Flowsheet design to produce graphite products for industrial and high growth lithium-ion battery markets ASX announcement “127% Increase in EpankoMineral Resource” dated 11 March 2024
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www.ecograf.com.auASX:EGR FSE: FMK October 2026 16 PLANT FLYOVER VIDEO > https://tinyurl.com/ypmd7vme PROCESSING PLANT VIDEO > https://tinyurl.com/4k859b2h Epanko Processing Plant Flythrough
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www.ecograf.com.auASX:EGR FSE: FMK October 2026 17 Increased Production Lowers C1 Cost Supports Growing Customer Demand for Graphite Updated BFS Feb 2026 Value Engineering Review Sep 2026 Operating Cost LOM First 10-Years of Processing LOM First 10-Years of Processing C1 Cost FOB Dar es Salaam 553.3 544.0 515.9 512.3 All In Sustaining Cost 650.9 639.0 615.4 610.8 Notes for table– rounding errors may occur. Figures in table are US$/t. 0 10 20 30 40 50 60 70 80 90 100 1 2 3 4 5 6 7 8 9 10 Concentrate Production (ktpa) Year 73ktpa Updated BFS +20% Case Operating Cost estimates for potential 20% increase in production rate – US$/t Concentrate Sold, FOB Dar es Salaam, real 2025 • 20% production increase identified for Stage 1 capacity, from 73,000tpa to 87,600tpa. • Lower operating costs, with first 10-year C1 costs reduced 5.8% to approximately US$512/t. • Expansion achievable with minimal plant modifications and an estimated US$12M capital increase, within BFS contingency. • Increased production supports development of a single 25,000tpa HFfree® Battery Anode Material facility. • Enhances EcoGraf's ability to meet growing customer demand while strengthening project economics and downstream growth opportunities. Concentrate production for 73ktpa Updated BFS vs potential +20% increase in production Figure 1 ASX announcement “Updated EpankoValue Engineering Identifies 20% Production Increase ”, 2 October 2026
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www.ecograf.com.auASX:EGR FSE: FMK October 2026 18 PRIORITIES Secure financing arrangements Finalise offtake agreements Final engineering programs, environmental and project execution planning Positioning to be first development supporting Tanzanian Government’s ‘Vision 2030’ value-addition strategy • Ifakara identified as the preferred location • 75km from Epanko mine • EU Ifakara substation in proximity • Energised by Hydropower plant • Optimises supply chain logistics efficiencies for EV and battery customers • Modular design provides readily scalable development to support forecast demand ADVANTAGES ASX announcement “Study Completed for Midstream Development”, 24 March 2025 ASX announcement “Epanko Expansion Supports HFfree Downstream Facilities”, 12 November 2025 ✓ High Yields ✓ Low Energy Cost ✓ Reduced Transport Cost (removal of 40% fines) ✓ Value-Addition ✓ Scalable ✓ Reduced Carbon Footprint KEY PARTNERS AND SUPPORT Mwanza Arusha SGR Railway SGR Planned Extension Nyerere Hydropower Morogoro Region Morogoro Kidatu Hydropower Dar es Salaam Midstream Mechanical Shaping Facility Mechanical Shaping Facility Epanko Graphite Project
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www.ecograf.com.auASX:EGR FSE: FMK October 2026 19 ASX announcement “Engineering Study Completed for Midstream Development”, 24 March 2025 Stage 1 Facility Cost Operating Cost US$58.6m US$419/t • Accelerated development pathway through completed engineering studies • Extensive testwork programs delivering high yields of ~60% • Independent engineering study completed for 20,000tpa • European Investment Bank grant funding to support engineering site study • Initial debt funding expressions of interest received for Mechanical Shaping • Pursuing programs to support further mineral value addition with support from European Commission • Signed agreement with Finland Government (GTK) and Betolar Mechanical Shaping Facility
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www.ecograf.com.auASX:EGR FSE: FMK October 2026 20 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 EcoGraf HFfree® Chemical Purification Technology ✓ Confirmation of continues process technology to support commercial development ✓ PQF delivers results meeting the highest customer specifications for purified SpG ✓ 4N achieved with total impurity levels to less than 100ppm ✓ Ability to process other SpG feedstocks r Product Qualification Facility (PQF)
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www.ecograf.com.auASX:EGR FSE: FMK October 2026 21 PRIORITIES Formalise strategic partnerships for commercial scale production Evaluate development options in Japan, Asia, Europe, & U.S. ADVANTAGES ✓ Low-cost Chemicals ✓ Minimal Waste Products ✓ Logistic Efficiency ✓ Processing Cost Advantage ✓ Scalable ✓ Propriety Technology ✓ Location Flexibility KEY PARTNERS AND SUPPORT Industry-leading low-cost driving growth, supported by legislation advancing sustainable, diversified supply chains • Product qualification facility (PQF) programs delivered breakthrough cost efficiency • Benchmarking and engineering study confirms operating cost advantage of HFfree • Competitive advantage to supply growing ex-China anode demand given EU legislation, U.S. tariffs and Chinese restrictions • EcoGraf HFfree® process – U.S., Australia, Vietnam, India Patents granted with PCT International Patent Application submitted • Extensive product testing and qualification with customers incl. Tier 1 U.S. Battery Manufacturer • Secured grant funding from EU in relation to assistance with Downstream integration and value chain readiness • Strategic partnership with Mitsubishi Chemical Corporation for 10,000tpa of SpG ASX announcement “HFfree Delivers Industry-Leading Low Cost and NPV of US$282m”, 13 August 2025 ASX Announcement “Strategic Partnership with Mitsubishi Chemical”, 20 April 2026 Downstream Chemical Purification Facilities
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www.ecograf.com.auASX:EGR FSE: FMK October 2026 22 HFfreeBattery Anode Material Development History Extensive testwork, bench scale and piloting programs completed underpins and derisks EcoGraf HFfree® processing technology PQF Delivers HFfree Cost Competitiveness Australian Patents 1 & 2 Granted US Patent Granted Successful PQF Operational Campaign Engineering Study Completed for Midstream Development Positive feedback on U.S. DoD White paper submission Australian Government conditionally approves US$40M loan German research confirms recycled graphite performance Independent LCA study US purification facility location study Single phase development strategy Technical cooperation commenced with Future Battery Industries CRC EcoGraf provisional patent lodged for recycling applications Agreement signed with Thyssenkrupp for EcoGraf SpG and fines Strategic Agreement with South Korean Battery Recycler Engineering studies completed on Asian EcoGraf facility Engineering study completed on Australian EcoGraf facility EcoGraf feedstock benchmarking program German pilot plant optimisation program commenced German optimisation and feedstock testing completed EcoGraf international patent lodged Battery graphite scoping study completed 200 tonne Epanko bulk sample battery material test work Battery graphite feasibility and engineering studies commenced with GR Engineering Battery graphite produced in commercial facility in Asia Product testing and endorsement Commences EcoGraf process developed in Australia and Germany Preliminary feasibility study completed, EcoGraf provisional patent lodged Major Project Status Approved by Australian Government EcoGraf evaluates industrial sites in Sweden International Patent Examiner confirms EcoGraf process novel and inventive POSCO and EcoGraf enter into Battery Anode Material Agreement POSCO Cooperation Agreement US patent granted TZ mechanical shaping study Australian Product Qualification Facility Strategic Collaboration with VinES for BAM Facility Collaboration agreement with BASF on anode recycling EcoGraf HFfree product qualification facility commissioned Propriety purification achieves 99.99%C Location studies for commercial scale BAM production PQF optimising for further reductions in capital and operating costs Vietnam Patent Granted India Patent Granted Partnership with Taiwan’s Long Time Technology Strategic Partnership with Mitsubishi Chemical Corporation 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
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www.ecograf.com.auASX:EGR FSE: FMK October 2026 23 EcoGraf HFfree® Process Advantages Low-cost Competitive economics compared to the other purification methods Eco-friendly Significantly lower carbon footprint with minimal waste streams Scalable Process capable of being located within battery manufacturing hubs Versatility Purification technology successfully applied to anode recycling and enhanced through purification cost reductions Why EcoGraf HFfree® Proprietary technology Intellectual property security process advanced including: • Europe, Malaysia, South Korea, Canada patent submissions • PCT International Patent Application submitted covering 158 countries • U.S. patent granted No. 11,702342. • Australia patents 1 & 2 granted No. 2022387279 & No. 2021261902 • Vietnam patent granted No. 1-2022-08086 • India patent granted No. 587710 • East Africa (Tanzania, Mozambique and Namibia granted AP/P/2022/013753 • South Africa patent granted 2022/04606 HIGHLY EFFECTIVE CHEMICAL PROCESS TO REMOVE IMPURITIES FROM NATURAL GRAPHITE & CARBON MATERIALS Minimum impurities 4N achieved through on-going purification optimisation testwork resulting in reduction of total impurity levels to less than 100ppm
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www.ecograf.com.auASX:EGR FSE: FMK October 2026 24 Downstream Financial Metrics for 25,000tpa Facility US$282M Pre-tax NPV10% 39% Internal rate of return 25,000tpa Stage 1 production – First 15 Years US$95M Stage 1 Capex (real) US$42M Annual EBITDA (real) US$478/t Processing cost ASX Announcement “Global Assessment Confirms HFfree Process Competitiveness” 29 May 2026 Global assessment confirms cost competitiveness across all Lithium-ion Battery Manufacturing Hubs Unit Operating Costs for HFfree Process in Potential Locations1 0 100 200 300 400 500 600 Europe U.S. Asia US$478/t (US$/t SPG) Strong Market Position • Seven potential locations assessed across major global battery manufacturing hubs for a 25,000tpa purification facility • Integrated supply chain delivers an estimated cost of approximately US$1,441/t, positioning EcoGraf as a competitive alternative to Chinese supply • Strong customer and partner interest in global, non-Chinese graphite supply chains Financial metrics based on U.S. location confirms high margin business
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www.ecograf.com.auASX:EGR FSE: FMK October 2026 25 Significant cost advantage confirmed via updated benchmarking study • Updated cost comparison based on global engineering & construction consultancy, comparing EcoGraf HFfree® purification vs the three other known technologies, based on a 25,000tpa reference base in the U.S. • Development of process since 2015, significant investment, extensive testwork and rigorous technical due diligence to reach this advanced stage of validation • EcoGraf HFfree® provides high purity, minimal waste, low CO2 alternative to existing supply chains • Forecast process operating cost for initial 25,000tpa facility reduced by over 30% to US$478/t driven by process design breakthroughs and process efficiencies • European location being pursued with a strong focus on Germany with financial metrics expected to be similar to U.S. facility • In parallel, pursuing potential partners to co-locate facilities in Japan, South Korean & Asian locations with relatively lower costs EcoGraf HFfree® Purification Delivers Industry-leading Cost ASX announcement “HFfree Delivers Indfustry-Leading Low Cost and NPV of US$282m”, 13 August 2025 ASX announcement “Study Confirms EcoGraf HFfreeTMProcess Cost Advantages”, 11 July 2024 High Temperature Chlorination Purification US$ Hydrofluoric Acid Purification (China Method) PURIFICATION OPERATING COST COMPARISON - U.S. LOCATION 0 200 400 600 800 1,000 1,200 Ultra-High Temperature Purification EcoGraf HFfree® Purification 34% LOWER THAN HF PRODUCT QUALIFICATION FACILITY VIDEO https://tinyurl.com/36uwytx9
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www.ecograf.com.auASX:EGR FSE: FMK October 2026 26 0 500 1000 1500 2000 2500 Epanko feedstock combined with Midstream and HFfree delivers significant cost advantage as alternative to peers • EcoGraf positioned to be the leading lowest-cost against graphite producers for purified HFfree SpG (SPG) battery anode material • Up to 40% lower than comparable peers • Supported by customer qualification and tier 1 battery manufacturers in Europe, Korea, Japan and U.S. • Cost advantage + superior product + industry-leading ESG credentials = scalable development of EcoGraf’s Downstream chemical purification facilities across multiple locations Leading Lowest-Cost to Drive Production Growth ASX Announcement “Global Assessment Confirms HFfree Process Competitiveness” 29 May 2026 Industry Leading Lowest-Cost1 EcoGraf HFfree® Feedstock Cost $544 Mechanical Shaping Cost $419 HFfree Process Cost – base case $478 Estimated Cost (US$/t) $1,441 COST COMPARISON TO COMPARABLE PEERS EcoGraf Peer 1 Peer 2 $1,441 40% LOWER COST
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www.ecograf.com.auASX:EGR FSE: FMK October 2026 27 PRIORITIES Feedstocks supplied by EV and battery manufacturers to advance to piloting ADVANTAGES ✓ Low-cost Chemicals ✓ Minimal Waste Products ✓ Logistic Efficiency ✓ Processing Cost Advantage ✓ Scalable ✓ Propriety Technology ✓ Location Flexibility KEY PARTNERS AND SUPPORT EcoGraf HFfree® purification supports closed loop recycling and battery circular economy • Essential for maximising battery manufacturer processing efficiency and compliance with regulatory waste management • Downstream facilities may be designed to produce SPG from recycled & natural graphite • Significant environmental benefit, with an almost zero or “CO2free” footprint of approximately 1.6kg to 2.2kgCO2 eq. per kg EcoGraf RecoBAM ASX announcement “Independent ISO-Compliant LCA Study Confirms C02Advantages of EcoGraf HFfree Purification”, 20 October 2022 Lithium-ion Battery (End-of-life) Production Anode Electrode Leached Black Mass EcoGraf HFfree® Processing Blended EcoGraf RecoBAMTM Product Lithium-ion Battery (New) Closed Loop Recycling Electric Vehicles and Energy Storage Usage HFfree Technology Supports Global Battery Recycling 100%80%60%40%20%0% 14.3 Kg CO2 eq. per kg CSPG 23.1 Kg CO2 eq. per kg CSPG 1.6 – 2.2 Kg CO2 eq. per kg CSPG Standard Natural Graphite Anode Material Synthetic Graphite Anode Material EcoGraf HFfree® EcoGraf RecoBAM HFFREE LOW CO2 FOOTPRINT 5.0 – 10.6 Kg CO2 eq. per kg CSPG
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www.ecograf.com.auASX:EGR FSE: FMK October 2026 28 Low Cost, High Margin with Leading ESG Global Industry Standard on Tailings Management EcoGraf HFfree® Vertically Integrated Battery Anode Materials Business Integrated from mine-to-battery anode material, capturing value across the supply chain Epanko Graphite Project provides a long-life, high quality graphite feedstock Proprietary HFfree purification technology eliminates hazardous hydrofluoric acid Higher margins through mining, purification and BAM production Positioned to support growing demand from EV, battery, defence and advanced manufacturing sectors Designed to meet World Bank & lender requirements & align with the following IFC Performance Standards (IFC PS):
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www.ecograf.com.auASX:EGR FSE: FMK October 2026 29 HQ & PQF TANZANIA EU DEMAND ASIA DEMAND U.S. DEMAND Korea, Japan, Vietnam, Malaysia , India, Indonesia Germany, France, Poland, Hungary, Spain, Portugal, Sweden, Finland U.S. Canada Morrocco Tariffs driving new supply opportunities Supported by a Tier-1 battery manufacturer Strong U.S. policy push for domestic graphite supply U.S. Government funding supportive of new developments Largest anode manufacturing hub Strong raw material demand growth EcoGraf engaging Korea, Japan, Malaysia, Vietnam Partnerships advancing Chemical purification plant opportunities given largest market Chinese restriction impacts is creating greater opportunity in Japan & Korea EcoGraf recognised as EU Priority Project and significant grant funding EU exploring project support mechanisms with the EIB Cooperation Agreement Site assessments underway, focus on Germany RESourceEU Action Plan policy accelerating alternate new graphite supply chains US MARKET EU MARKET ASIA MARKET (Ex -China) GOVERNMENT SUPPORT 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
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Value-Add Gold Assets ASX: EGR Decades of in-country and geological expertise allows us to explore Tanzania’s gold frontiers FSE: FMK GOLDEN FRONTIER
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www.ecograf.com.auASX:EGR FSE: FMK October 2026 31 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, with drilling of 16m @ 55.23 g/t gold from 116m 21 prospective gold and copper prospects identified at the Southern, Northern and Western Frontiers Large tenement holding in a sought-after jurisdiction, covering over 3,000km2 of highly prospective ground Tanzania is Africa’s 3rd largest gold producer with long established gold mining sector Golden Frontier – Investment Highlights ASX Announcement “AngloGold Ashanti US$9.0m Gold Farm-in Commences”, 17 December 2025 ASX Announcement “EcoGraf Delivers Gold Results & Strategy including 44.45g/t Gold Chip Sample –Amendment”, 23 January 2026. ASX announcement “Outstanding Trench & Pit Sampling Results at Winston including 81.0g/t Gold, HanangGold Project, Tanzania” 17 July 2017, by Tanga Resources Limited. www.vanguardngr.com/2025/10/5-african-countries-that-export-the-most-gold
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www.ecograf.com.auASX:EGR FSE: FMK October 2026 32 Targeting Proterozoic Gold Mineralisation - Frontier Projects OUR PROJECTS Ifakara Mechanical Shaping Facility Epanko Graphite Project Dar es Salaam Golden Eagle Southern Frontier Northern Frontier Major Gold Projects Golden Frontier Project Archean Gold Project Proterozoic Gold Project Proterozoic Terrain Archean Terrain N +70 Moz gold Archean Lake Victoria Goldfield NEW LUIKA2 1.1 Moz HANDENI1 1.0 MozSINGIDA GOLDEN PRIDE KATAVIWestern Frontier BUZWAGI NORTH MARA GEITA BUCKREEF NYANZAGA BULYANHULU 1. TSX-V announcement “Mineral Resource Estimate & Update to a NI43-101 Technical Report for the HandeniProperty, Tanzania” 11 June 2013, by East Africa Metals. 2. www.minedocs.com/23/Shanta-Gold-PR-MR-212022.pdf
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ASX: EGR FSE: FMK 18 Richardson Street, West Perth WA 6005 info@ecograf.com.au www.ecograf.com.au The future is electric with EcoGraf HFfree® purification and Tanzanian graphite
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www.ecograf.com.auASX:EGR FSE: FMK October 2026 34 Appendix 1 This presentation contains references to the Epanko MRE (extracted from ASX Announcement “127% increase in Epanko Mineral Resource”, 11 March 2024) and the Epanko Ore Reserve (extracted from ASX Announcement “Updated Epanko Bankable Feasibility Study”, 25 February 2026) Table 1 – Epanko MRE >5.5% TGC Table 2 – Epanko Ore Reserve JORC Classification PROVED PROBABLE TOTAL Tonnes (Mt) Grade (%TGC) Cont. (Kt) Tonnes (Mt) Grade (%TGC) Cont. (Kt) Tonnes (Mt) Grade (%TGC) Cont. (Kt) Oxide 4.9 8.8 437 8.3 7.9 659 13.3 8.2 1,095 Transitional 1.0 7.9 76 0.6 7.9 46 1.5 7.9 121 Fresh 1.2 8.3 103 0.7 8.4 56 1.9 8.3 159 Total 7.1 8.6 615 9.6 7.9 761 16.7 8.2 1,376 JORC Classification Tonnage (Mt) Grade (%TGC) Contained Graphite (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 Table 1 have been rounded to nearest 100,000. % TGC grades are rounded to 1 decimal figure. Abbreviations used: Mt = 1,000,000 tonnes, Kt = 1,000 tonnes. Rounding errors may occur in tables.