• Firm commitments to raise A$14.5 million via a Placement
• Proceeds to fund engineering study for 5,000 tpa anode production ramp-up
• Offer Share Purchase Plan to raise additional A$5 million

Talga Group Ltd, a battery materials and technology company, has announced that it has received binding commitments to raise A$14.5 million before costs through a Placement of shares to institutional and sophisticated investors. Approximately 35.4 million new fully paid ordinary shares will be issued under the Placement at an issue price of A$0.41 per share, representing a 7.2% discount to the 10-day VWAP average price. In addition to the Placement, the company will offer Eligible Shareholders in Australia, New Zealand and Singapore the opportunity to participate in a Share Purchase Plan to raise a targeted amount of A$5 million (before costs). The funds raised under the Placement and SPP will be used to fund the engineering study for a staged 5,000 tpa ramp up in anode production, in conjunction with the A$13.35 million grant received from Sweden's Industriklivet. The funds will also be used for additional grant applications, to supply Talnode®-C and Talnode®-R anode to battery customers, advance US development opportunities, and provide general working capital. Participants in the Placement and SPP will receive one (1) free unlisted attaching option for every two (2) New Shares and SPP Shares allocated, with an exercise price of A$0.58 per option and a 2-year expiry. Holders of the Attaching Options will also receive one (1) fully paid ordinary share and one (1) free unlisted piggyback option for every one (1) Attaching Option exercised, with an exercise price of A$0.65 and an expiry date of 2-years from the expiry of the Attaching Option.