Total Graphite Plc · LSE:TGR
Total Graphite — Tirupati Graphite — Investor Presentation (November 2025)
23 slides from Total Graphite's investor presentation, November 2025
Slide 1: Tirupati Graphite Plc Investor Presentation
TIRUPATI GRAPHITE PLC Investor Presentation November 2025 LSE: TGR 1
Slide 2: Disclaimer
Disclaimer The information contained in this document (the “Presentation”) has been prepared by Tirupati Graphite plc (the “Company”) solely for informational purposes. It has not been fully verified and is subject to material updating, completion, revision, verification and further amendment withou
Slide 3: Emerging Ex-China Graphite Producer
Emerging Ex-China Graphite Producer ● Proven operational platform in Madagascar, with 18,000 tpa capacity at 2026: 18,000 tpa* Vatomina ramping to nameplate by early 2026 ● Potential to double production in Madagascar to 36,000 tpa in 2027 ● Globally significant resources in Mozambique (Montepuez &
Slide 4: Strengthening Graphite Macro Picture
Strengthening Graphite Macro Picture Ex China Battery Grade, -100 mesh Supply and Demand for Anode Materials, Unit: mt Source: Benchmark Mineral Intelligence ● Graphite supply to fall short of energy storage demand from 2026; ● 160% US tariff introduced in July ‘25 on Chinese anode material ● Novemb
Slide 5: 2025 Turnaround Progress so far
2025 Turnaround Progress so far Where we are today ● Vatomina restarted, 10 months operation & operational reconfiguration largely completed ● Trade creditors managed through ongoing payment plans, material deliveries, renegotiated terms (~$1.2 million, mainly from 2024) ● Customer relationships rep
Slide 6: Final-Stage Turnaround At Vatomina
Final-Stage Turnaround At Vatomina ● February 2025 operational ● New mining fleet additions deployed Current Status turnaround initiated to on site and mining areas evaluated, Operations now paused, reconfigure mining & opened, roads built to support pending: processing strategy higher production vo
Slide 7: Next Steps
Next Steps 2025 TO DATE ● Vatomina operation reconfigured: 4 x Pre-Concentrate Units, processing capacity uplifted to 50 tons per day ● New mine areas opened, evaluated for enhanced mining campaign, suitable areas identified ● Repaired drill rig to be deployed for enhanced mine planning ● Monthly pr
Slide 8: Pathway Summary
Pathway Summary* ● Publish FY25 Accounts ● Re-List on LSE, hold GM ● Resupply shipments (now arrived) ● Issue Prospectus ● Complete mining fleet repairs ● Issue CLN shares & Fundraise Equity ● Install remaining plant upgrades Nov-Dec 2025 Oct-Nov 2025 Dec ‘25- Feb 2026 Q1 2026 ● Ramp-up production ●
Slide 9: Grounds For Confidence
Grounds For Confidence ● Confidence in completion of ramp-up from here: ○ Potential bottlenecks and operational challenges identified following 9 months of extensive work carried out in the year to date and deep evaluations by new management ○ Post H1 November 2025 resupply shipment arrival, improve
Slide 10: Stabilised Vatomina Unlocks Portfolio Prospects
Stabilised Vatomina Unlocks Portfolio Prospects ● Short lead time redevelopment of Sahamamy, subject to funding, for another nearby, low-cost production asset, and double Madagascar output to 36,000 tpa ● Mozambique: ○ Montepuez, a 100,000 tpa, high-grade, permitted project - construction initiated,
Slide 11: Proposed Fundraise and Re-Listing
Proposed Fundraise and Re-Listing ● £3.5m (min. £2.5m) equity issue at 1.5p, via cashbox mechanism, following FY25 accounts & Prospectus (see below) ○ Additional Warrant on 1 for 2 basis, priced at 3.75p; 24 months lifetime ● Re-listing on LSE to follow publication of FY25 Accounts (December 2025) ●
Slide 12: Use of November 2025 Fundraise Proceeds
Use of November 2025 Fundraise Proceeds FX at 1.315 £m $m Capex 0.38 0.505 Notes: a. See Appendix for full creditor & Upgrades, Waste Management, Spares 0.14 0.185 claims information, slide 19 Opex pre-restart 0.16 0.212 Working capital for restart (1 .5 months opex, less receivables due) 0.41 0.537
Slide 13: Summary
Summary ● Key operational milestones at Vatomina completed to date; completion pending resupply shipments in October 2025 (now received). ● Remaining necessary plant & mining fleet upgrades, repairs over November & December 2025. ● Funding opportunity to participate in completion of final ramp-up at
Slide 14: Contact
Contact General @TirupatiUK [email protected] www.linkedin.com/company/tirupati- Investor Relations graphite [email protected] www.tirupatigraphite.co.uk 14
Slide 15: Appendix
oe GRAPHITE APPENDIX
Slide 16: Group Asset & Production Potential Overview
Group Asset & Production Potential Overview 16
Slide 17: Creditors / Claims
Creditors / Claims Creditors & Claims. As at 30 September 2025 the Group had: i) Outstanding Unsecured convertible loan notes (“CLN”) comprising: A) £0.9m* under the 2019 CLN; B) £1.9m under the 2022 CLN; C) £0.05m under the 2024 CLN, and D) £4.8m* under the 2025 CLN plus accrued interest. ii) Opera
Slide 18: Madagascar Group Mineral Resources
Madagascar Group Mineral Resources 2025 Mineral Resources Estimate, Madagascar* (Inclusive) Quantity Grade (MT) (GC%) Indicated 2.90 3.90 Tamatave - Main Port of Madagascar Inferred 9.70 Permit Areas, 70-80 km from Tamatave 4.10 Total Mineral Resource 12.60 4.10 NH-2 Antananarivo to Tamatave *Minera
Slide 19: Madagascar Projects: Operations & Infrastructure
Madagascar Projects: Operations & Infrastructure ● >$24m invested since 2017 ● Mining, processing, port warehousing & logistics, laboratories facilities established ● Operationals mining fleet of >50 vehicles ● >50km of roads constructed, connecting projects to national highway infrastructure ● Rela
Slide 20: Sahamamy, Madagascar
Sahamamy, Madagascar ● Currently on care and maintenance ● Significant multi-million investment to date. ● Infrastructure & JORC mineral resources established: 6.4 mln MT at average grade 4.2% TGC ● Additional concession & license area extensions awaiting approvals ● Feasibility studies complete for
Slide 21: Globally Significant Mozambique Resources
Globally Significant Mozambique Resources Group JORC Mineral Resources, Mozambique* Tons % Cont. Project (Mln) (TGC) Graphite (Kt) Montepuez 119.6 8.1 9,670 Balama Central 32.9 10.2 3,350 Group Total 152.5 8.5 13,020 ● 158ktpa initial planned production across two projects ● Complements large flake
Slide 22: Montepuez (Mozambique) Project
Montepuez (Mozambique) Project ● High grade & high-quality resource for supply to anode/EV segments ● Permitted for 100 ktpa production capacity ● Prior feasibility studies for 25 year life of mine; plans undergoing optimization ● Substantial advanced infrastructure work and delineated mineral resou
Slide 23: Projects Provide Diversity of Supply
Projects Provide Diversity of Supply Complete product basket: Diversified project locations possess diversified flake graphite product baskets enabling supply across graphite markets and expansion in sync with projected market growth dynamics Madagascar Product Basket Mozambique Product Basket (By F
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