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Natural Graphite’s Role in Tier-1 Anode Supply Talga Group Ltd · ASX:TLG OTCQX: TLGRF 20 October 2026 BENCHMARK SUMMIT · LONDON INTERACTIVE WORKSHOP · 11:30 – 12:00 Mark Thompson · Founder & Managing Director
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Cautionary Statement & Disclaimer Forward-looking Statements This presentation contains forward-looking statements. Those forward-looking statements reflect views held only as at the date of this presentation. Any such statement is subject to inherent risks and uncertainties. Actual events or results may differ materially from the events or results expressed or implied in any forward-looking statement, and such deviations are both normal and to be expected. Recipients must make their own assessment about the likelihood of a matter, about which a forward-looking statement is made, occurring. The Company makes no representation about the likelihood of a matter, about which a forward-looking statement is made, occurring. The Company and its directors, employees, agents, advisers and consultants: give no representation or warranty to a recipient of this presentation as to the accuracy or completeness of the statements contained in this presentation or in relation to any other matter; and to the fullest extent permitted by law, disclaim responsibility for and have no liability to a recipient of this presentation for any error or omission in or for any statement in this presentation, including any liability arising from negligence. 20 October 2026 INTRODUCTION TALGA · BENCHMARK SUMMIT LONDON 2 Not a recommendation or financial advice The information in this presentation is not a recommendation to subscribe for securities in the Company and does not constitute financial advice. Any person who intends to subscribe for securities must conduct their own investigations, assessment and analysis of the Company and its operations and prospects and must base their investment decision solely on those investigations and that assessment and analysis. Prospective investors should consult their own legal, accounting and financial advisers about an investment in the Company. Talga Group Ltd ACN 138 405 419 (the Company) is the issuer of this presentation. Reliance on Presentation A recipient of this presentation must make their own assessment of the matters contained herein and rely on their own investigations and judgment in making an investment in the Company. This presentation does not purport to contain all of the information required to make an informed decision whether to invest in the Company. Specifically, this presentation does not purport to contain all the information that investors and their professional advisers would reasonably require to make an informed assessment of the Company’s assets and liabilities, financial position and performance, profits, losses and prospects. Photographs and images Photographs, maps, charts, diagrams and schematic drawings in this presentation are owned by and have been prepared or commissioned by the Company, unless otherwise stated. Maps and diagrams used are illustrative only and may not be drawn to scale. Unless stated otherwise, all data contained in charts, graphs and tables is based on information available at the date of this presentation.
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The overlooked critical battery mineral China’s anode industry is over-supplied on synthetic graphite, but costs are rising, export controls increasing, subsidies being dropped. The surplus is conventional and mid-range EV grade, but the tier-1 fast- charge, high-power anode from a permitted non-Chinese chain is rare. Natural graphite takes the share where cost and jurisdiction aligns with high-power and fast-charge. 20 October 2026 TALGA · BENCHMARK SUMMIT LONDON 3
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Graphite refining into anode is key THE WEAKEST LINK 20 October 2026 TALGA · BENCHMARK SUMMIT LONDON 4 Graphite is 95% of today’s lithium-ion battery anodes. Cell makers do not buy graphite, they buy anode specification: particle size, coating, impurity, surface area, fast-charge, cycle life, first cycle efficiency, CO2, and a site it can audit. While most anode is graphite, not all graphite can be made into anode. The weak link is not the raw material. It is refining; shaping, purification and coating, a skill few in the West have developed.
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Battleground is specification, not tonnes TIER-1 FOCUS 20 October 2026 TALGA · BENCHMARK SUMMIT LONDON 5 Fast charge & high power Modern markets demand faster charging/more power that requires smaller, more crystalline anode (natural) not artificial graphite. Traceability & jurisdiction EU Battery Regulation, OEM audits and US FEOC rules ask where it was mined and processed. Premiums for non-Chinese tonnes exist where policy and defense rules apply. Cycle life BESS and commercial vehicles punish swelling inconsistencies leading to shorter life. Some natural graphites perform better than others, it isn’t one size fits all. Carbon Synthetic graphitisation at >2,800°C is the emissions problem. Natural, processed on clean power, is the answer.
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Tier-1 specification graphite anode applications 20 October 2026 TALGA · BENCHMARK SUMMIT LONDON 6 MARKETS Drones & eVTOL UAVs Aerospace AI Data-centres Industrial Robotics Hybrid + Premium EV’s
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Talga complete vertical integration LATEST DEVELOPMENT 20 October 2026 TALGA · BENCHMARK SUMMIT LONDON 7 Producing anode now, ex-Asia Qualified with multiple customers. First commercial shipments started July 2026 from demo plant. Balance from planned commercial plant. Permits in force Exploitation and enviro permits granted for Mine & Concentrator, and downstream Refinery with purification & coating in Sweden. Phased scale-up DFS & FEED technical packages complete. Modular refinery, initial line scaling to 19.5ktpa. Construction 2027, subject to FID. Reviewing potential USA expansion with government input.
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How to achieve competitive cost – optimise every step 20 October 2026 TALGA · BENCHMARK SUMMIT LONDON 8 BREAKING THE CHOKEHOLD 01 Grade Deposits in China, Africa, Australia, Canada are commonly 4-8% graphite Talga is 22-24% graphite 02 Flake Size Most deposits have a range of graphite flake sizes that do not suit anode making and must be sold into low-price low-growth markets. Talga Sweden is 100% battery size flake – essentially an anode mine 03 Power & Logistics Be located on ultra low-cost power grid Low-emission hydro and nuclear sources are a bonus. Be close to major roads, rail and ports for lowest delivery and opex costs 04 Process Efficiency Standard production processes lose 50-60% of feedstock. Talga-owned technology converts over 90% of graphite feed into battery anode
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Benchmark Anode Forecast* - 2036 CSPG AISC Curve 20 October 2026 TALGA · BENCHMARK SUMMIT LONDON 9 RESULT: COMPETITIVENESS Benchmark Data * Benchmark Q1 2026 Anode Forecast p 64
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Talga is already in the supply chain WESTERN ANODE LEADER 20 October 2026 TALGA · BENCHMARK SUMMIT LONDON 10 Talga has established a truly independent supply by owning the resource, the process IP , and the production equipment stack, completely secure and NDAA complaint. Producing qualified premium performance anode products from EVA demo plant in Sweden since 2022. Customer agreements include fast-charge, high-power supply chain participants Nyobolt, Mitsubishi Chemical, V4Smart/Porsche, Dainen, Hanwa (incl. strategic investment track), ACC, Verkor, EAS and others under NDA.
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Key Takeaways 20 October 2026 TALGA · BENCHMARK SUMMIT LONDON 11 01 The weak link is processing, not raw material Western graphite exists. Processing capability to make qualified, audited, defense-grade anode does not. Discussion · Mark Thompson, Talga Group 02 Aggregate surplus hides the tier-1 material deficit While bulk commodity graphite grades from China swamp market, tier-1 applications needing fast-charge, high- power and FEOC-free anodes are at a premium. 03 The West scales by fully integrating and optimising Talga: permitted Swedish mine and refinery with world-leading cash costs, commercial-demo shipments already moving, Scale-up FID path through 2027. WRAP
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talgagroup.com THANK YOU FOR YOUR TIME 20 October 2026 TALGA · BENCHMARK SUMMIT LONDON 12 Talga AB & Talga Battery Metals AB Södra Kungsgatan 5B 972 35 Luleå, Sweden t: +46 (0) 10-303 71 00 e: kontakt@talga.se Talga Group Ltd Suite 3.03, Level 3 46 Colin Street West Perth, Western Australia 6005 t: +61 8 9481 6667 e: info@talgagroup.com Talga Technologies Limited Conqueror House Chivers Way, Histon Cambridge, CB24 9ZR, England t: +44 1223 420416 e: info.uk@talgagroup.com
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JORC Graphite Reserve and Resources 20 October 2026 TALGA · BENCHMARK SUMMIT LONDON 13 Ore Reserve 3, 5 Tonnes Graphite (% Cg) Nunasvaara (JORC 2012) 2.33 (Mt) 22.9 Probable 2.33 (Mt) 22.9 Mineral Resources 1, 2, 4, 6, 7, 8 Tonnes Graphite (% Cg) Vittangi (JORC 2012) 35,020,000 23.8 Indicated 26,691,000 24.3 Inferred 8,329,000 22.1 Jalkunen (JORC 2012) 31,500,000 14.9 Inferred 31,500,000 14.9 Raitajärvi (JORC 2004) 4,300,000 7.1 Indicated 3,400,000 7.3 Inferred 900,000 6.4 Total Mineral Resources 70,820,000 18.8 Note: 1. Mineral resources are inclusive of ore reserves. 2. Mineral Resources are reported at various cut off grades: Vittangi 12.5% Cg, Jalkunen 5% Cg and Raitajärvi 5% Cg. 3. Ore Reserve is reported at a cut off grade of 13.7% Cg. 4. Errors may exist due to rounding. See: ASX:TLG (5) 14 October 2026, (6) 6 October 2023, (7) 27 August 2015, (8) 26 August 2013.
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Competent Person Statement 20 October 2026 TALGA · BENCHMARK SUMMIT LONDON 14 The Mineral Resource estimate for the Vittangi Graphite Project (Nunasvaara and Niska Deposits) was first reported in the Company’s announcement dated 6 October 2023 titled ‘Talga boosts Swedish battery graphite’. The Company confirms that it is not aware of any new information or data that materially affects the information included in the previous market announcement and that all material assumptions and technical parameters underpinning the Resource estimate in the previous market announcement continue to apply and have not materially changed. The information in this presentation that relates to the Nunasvaara Ore Reserve has been extracted from the announcement dated 14 October 2026 titled “Annual Report”. The Company confirms that it is not aware of any new information or data that materially affects the information included in the previous market announcement and that all material assumptions and technical parameters underpinning the Reserve estimate in the previous market announcement continue to apply and have not materially changed. The Jalkunen Mineral Resource estimate was first reported in the Company’s announcement dated 27 August 2015 titled ‘Talga Trebles Total Graphite Resource to Global Scale’. The Company confirms that it is not aware of any new information or data that materially affects the information included in the previous market announcement and that all material assumptions and technical parameters underpinning the Resource estimate in the previous market announcement continue to apply and have not materially changed. The Raitajärvi Mineral Resource estimate was first reported in the Company’s announcement dated 26 August 2013 titled ‘500% Increase to 307,300 Tonnes Contained Graphite in New Resource Upgrade for Talga’s Swedish Project’. The Company confirms that it is not aware of any new information or data that materially affects the information included in the previous market announcement and that all material assumptions and technical parameters underpinning the Resource estimate in the previous market announcement continue to apply and have not materially changed. The Company first reported the production targets and forecast financial information referred to in this presentation in accordance with Listing Rules 5.16 and 5.17 in its announcements titled 'Robust Vittangi Anode Project DFS' dated 1 July 2021 and ‘Positive Niska Scoping Study Outlines Pathway to Globally Significant Battery Anode Production’ dated 7 December 2020. The Company confirms that all material assumptions underpinning those production targets and forecast financial information derived from those production targets continue to apply and have not materially changed. The Information in this presentation that relates to prior exploration results for the Vittangi Graphite Project is extracted from ASX announcements available to view on the Company’s website at www.talgagroup.com, with information on the exploration target first released to ASX on 16 May 2024. The Company confirms that it is not aware of any new information or data that materially affects the exploration results included in the relevant original market announcements. The Company confirms that the form and context in which the Competent Person and Qualified Person’s findings are presented have not been materially modified from the relevant original market announcements. The Information in this presentation that relates to prior exploration results for the Aero Project is extracted from ASX announcements available to view on the Company’s website at www.talgagroup.com. The Company confirms that it is not aware of any new information or data that materially affects the exploration results included in the relevant original market announcements. The Company confirms that the form and context in which the Competent Person and Qualified Person’s findings are presented have not been materially modified from the relevant original market announcements.