POSCO and EcoGraf enter into Battery Anode Material Agreement

Sustainably Produced EcoGraf(TM) HFfree Products to Support POSCO's Battery Materials Expansion Plans

EcoGraf Limited ("EcoGraf" or the "Company") (ASX: EGR; FSE: FMK; OTCQX: ECGFF) is pleased to report that it's entered into a non-binding Memorandum of Understanding with POSCO International (POSCO Intl), a multinational industrial company headquartered in South Korea and a key subsidiary of POSCO Group.

Under the agreement, the parties will work together in relation to EcoGraf supporting POSCO's anode production expansion plans through the supply of EcoGraf(TM) HFfree battery anode material products from the Company's new Australian Battery Anode Material Facility and its planned facility in Europe.

EcoGraf and POSCO Intl intend to enter into a formal offtake agreement for the proposed arrangements, containing terms and conditions customary for such contracts and they will also evaluate other opportunities for co-operation on product development, battery anode recycling and the development of EcoGraf's battery anode material business.

Further information on POSCO Intl can be found at:

The Company's new state-of-the-art Battery Anode Material Facility in Western Australia will use its unique, patent pending EcoGraf(TM) HFfree processing technology (refer ASX announcement International Patent Examiner Confirms Process Novel and Inventive 8 November 2021). The facility will be the first of its type globally and will export high quality, sustainably produced battery anode material products to anode, lithium-ion battery and electric vehicle markets in Asia, Europe and North America.

As part of developing the new facility with a zero-waste operating philosophy, EcoGraf is conducting a global product development program to access higher-value customer markets and maximise the economic and sustainability advantages of the EcoGraf(TM) purification process. The initial focus of these programs is the production of low emission recarburisers for the steel industry, ultra-fine battery conductivity enhancers and high purity fines for lubrication, thermal efficiency and fire-resistant applications.

This announcement is authorised for release by Andrew Spinks, Managing Director.

For further information, please contact:

INVESTORS

Andrew Spinks
Managing Director
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ENGINEERING CLEAN ENERGY

About EcoGraf

EcoGraf is building a diversified battery anode material business to produce high purity graphite products for the lithium-ion battery and advanced manufacturing markets. Over US$30 million has been invested to date to create two highly attractive, development ready graphite businesses.

The first new state-of-the-art processing facility in Western Australia will manufacture spherical graphite products for export to Asia, Europe and North America using a superior, environmentally responsible HFfree purification technology to provide customers with sustainably produced high performance battery anode material. Subsequently, the battery graphite production base will be expanded to include additional processing facilities in Europe and North America to support the global transition to clean, renewable energy in the coming decade and the rapid growth in battery materials.

In addition, the Company's breakthrough recovery of carbon anode material from recycled batteries using its EcoGraf^TM process will enable the recycling industry to reduce battery waste and use recycled carbon anode material to improve battery lifecycle efficiency.

To complement these battery graphite operations, the Company is also advancing the natural flake graphite business, with development of the Epanko Graphite Project, which will supply additional feedstock for the battery anode material facilities and provide customers with a long term supply of high quality graphite products for industrial applications such as refractories, recarburisers and lubricants.

A video fly-through of this new facility is available online at the following link:

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