Total Graphite Plc · LSE:TGR
Total Graphite — Investor Presentation (July 2026)
15 slides from Total Graphite's investor presentation, July 2026
Slide 1: Building an Integrated Mine-to-Market Graphite Platform
Building an Integrated Mine-to-Market Graphite Platform Strategic Growth, Value Creation, and the Pathway to Generational Supply Total Graphite PLC | Investor Presentation
Slide 2: The Evolution of a Mine-to-Market Supplier
The Evolution of a Mine-to-Market Supplier Total Graphite is evolving from an upstream producer into a vertically integrated, non-Chinese graphite ecosystem capable of supplying global industrial and energy transition markets. Scale (Transformational Growth) Value (Downstream Integration) Foundation
Slide 3: A Fully Integrated Physical Supply Chain
A Fully Integrated Physical Supply Chain Raw Material Generation (Africa) Global Distribution (Market) ‘ - Delivering reliable, friendly-jurisdiction supply to global industrial and battery markets. - Madagascar: Near-term cashflow & feedstock. Node 2: L Value-Added Processing - Mozambique: Generati
Slide 4: Strategic Capital Allocation: Engineering a Firmer Footing
Strategic Capital Allocation: Engineering a Firmer Footing Priority 1; Vatomina Drilling & Mine Planning (Priority) Increasing confidence in the geological model to underpin a robust mine plan for sustainable profitable production. / Execution of a comprehensive \ drilling-led mining optimisation pl
Slide 5: Madagascar: The Immediate Production Foundation
Madagascar: The Immediate Production Foundation J g 7 —— Va ] \ Sahamamy (Operating Hub) ))| “(Expansion Hub) ) 1} 6.0Mt resource @ 3.8% Combined Resource ‘ 6.4Mt resource @ 4.2% TGC (230kt contained). 5 TGC (270kt contained). Active footprint with = 500, 000 tonnes // established infrastructure. <
Slide 6: Unlocking Madagascar's Value: A Systematic Approach
i 9) ‘ = Ts} Unlocking Madagascar’s Value: A Systema J is ical Challenges Unlocking Value vi, (| Resolved by Phases 1 & 2: Independent geological review, drill plan Validation, and a 4-month resource definition drilling campaign. “4 Resolved by Phase 3: Updated geological models © driving optimized
Slide 7: Systematic Operational Improvement: The 5-Phase Unlock
Systematic Operational Improvement: The 5-Phase Unlock Phase 5 (Production Ramp-Up) Execute flowsheet modifications to improve 4 7 product wettability, increase (Operational Readiness) production volume, and ensure output strictly aligns SAE spt ery alltel Ie i it fications. (Mine Planning) upgrades
Slide 8: District-Scale Expansion in Madagascar
District-Scale Expansion in Madagascar The existing operation is just a fraction of the opportunity. The surrounding district provides significant upside to extend mine life and improve economics. © 18-20 Mt at 4-5% TGC. he Sahamamy Regional Hub aa - CATED distance [ame The namy R val Hub | arse a °
Slide 9: Mozambique: Securing Generational Flagship Scale
Mozambique: Securing Generational Flagship Scale | >14 MilliomTonnes Contained Graphite (168.4Mt Total Resource Base) ZN = 50 kilometres Macaniqus CABO DELGADO Meus Pemba deep-sea ese Project Central ne pany 110.5Mt resource 57.9Mt resource ir (9.1Mt contained). (4.56Mt contained). Permitted for 100
Slide 10: De-Risked Generational Supply: Two Cornerstone Assets
De-Risked Generational Supply: Two Cornerstone Assets } Montepuez & Graphite Project e Resource: 110.5 Mt resource (9.1 Mt contained graphite). Balama Central Graphite Project e Resource: 57.9 Mt resource (4.56 Mt contained graphite). Scale: Permitted for 100,000 tpa (30-year mine life). concentrate
Slide 11: Downstream Processing: Blueprint to Commissioning
Downstream Processing: Blueprint to Commissioning Engineering and scoping studies initiated to transition Total Graphite into an integrated specialty materials producer. Specialty Output Purification Q1 2027 = [el — Feasibility Study (FS) Target Final Investment —— Facility — Commissioning & Complet
Slide 12: Capturing the Downstream Value Multiplier
Capturing the Downstream Value Multiplier Value Cascade a Value Step 2 ) High-Purity Flake (98-99.5%) 2, O00=3 000/% ne " Value Step 1 - p> J Z Micronised Graphite s \ ——— \ <a _ US$1,00022"400) \ 7 j $ \ = = < Base Commodity ; ees Tg Re / Flake Concentrate 90-94% s = ——— / | US$800-1,200/t | ae 7 m
Slide 13: The Phased Development Plan
The Phased Development Plan 2027 Q1 2027: Ramp-up to full Vatomina | production (1,500 tpm) Production restart Q3 2026: 1H 2027: Drill programme Award of three | Sahamamy additional —— licences 1H 2028: ¢ First production Mozambique } 2027-2028: Construction y 2H 2026: (Montepuez FS reviews ® — ) &
Slide 14: The Battery Materials Future: Supplying the Energy Transition
The Battery Materials Future: Supplying the Energy Transition eS Context Panel " Battery demand is expanding rapidly. * Graphite remains the largest component by weight in Li-ion batteries. * Global governments demand secure, non- Chinese supply chains. Purified Specialty Graphite Graphite Concentra
Slide 15: The Arbitrage Unlock: Closing a 92% Valuation Gap
The Arbitrage Unlock: Closing a 92% Valuation Gap Peer Median 0.17x NextSource Materials 0.370x Syrah Resources EcoGraf Talga Group Blencowe 92% Arbitrage Opportunity 0.0x 0.1x 0.2x 0.3x 0.4x Multiple (Market Cap / Project NPV) Black Rock Mining Total Graphite \ The market has deeply discounted TG d