• Completed Updated Epanko Bankable Feasibility Study with attractive financial results
• Progressed debt financing program with KfW IPEX-Bank and applied for co-funding with DEG Impulse
• Signed strategic partnership with Mitsubishi Chemical Corporation for battery anode materials

EcoGraf Limited, a vertically integrated battery anode materials developer, presented its activities and cash flow report for the quarter ended 31 March 2026. Highlights include completing an Updated Epanko Bankable Feasibility Study with attractive financial results, progressing the debt financing program with KfW IPEX-Bank, and applying for co-funding with DEG Impulse to support community development initiatives. The company also signed a strategic partnership with Mitsubishi Chemical Corporation for battery anode materials, a cooperation agreement with the European Investment Bank, and non-binding MOUs with Finland's GTK and Betolar to assess the utilization of Epanko mine tailings, as well as with Taiwan's Long Time Technology to develop HFfree purification facilities in South-East Asia and Taiwan. EcoGraf continues to advance its vertically integrated battery anode materials business, including the Epanko Graphite Project, mechanical shaping facility, and EcoGraf HFfree purification facilities.

The Updated Epanko Bankable Feasibility Study provides the following key financial metrics for the 73,000 tpa Stage 1 development: pre-tax NPV10% of US$516M, internal rate of return of 31.1%, and annual EBITDA of US$85.7M (all in real 2025 terms).