The Company has initiated payments of interest for the period ended 30 June 2024 on the Convertible Loan Notes as per the register of noteholders as at 30 June 2024.

While the Company has transfer details for payment of interest for most of the noteholders from previous payments, and notes that there have been no changes in the register during the period, it is reaching out to the noteholders whose details are not available with the Company.

The Company requests its noteholders to provide holding details by email to [email protected] if their interest payment is not received within 1 business day.

The Company continues to work on financing activities, making steady progress in its efforts as detailed in its  4 July 2024 RNS.

Discussions have centred around strategic financing arrangements with groups particularly interested in the long-term objectvies of the Company as announced on 10 July 2024.

The Board will continue to accrue their remuneration and fees with cash resources directed into operations until a funding solution is reached.

The Directors have provided the Company with cash loans of a sum of GBP 230,000 to meet the interim financing gap with a 12 month term and at an interest rate of 12% per annum.

In the meantime, the Company remains engaged with its creditors until the financing arrangements are completed.

The Company continues to hold over $2m in VAT receivables in Madagascar, and over $1m VAT receivables in Mozambique which it is continuing to pursue the payment of.

The Company has consolidated its resources over the past quarter and this month so as to align and streamline its operations.

Operations remained intermittent since April 2024, with production suspended for most of the time, though the Company continued to make shipments and received payments for goods shipped and continued various other activities including those related to environment and community engagement as it consolidated its position.

The Company is directing all resources for the efficient operation of one of its two projects in Madagascar, namely the Vatomina project, and is targeting production and sales equivalent to its current capacity of 8,000 tons per annum in light of the 3% head grade achieved, moving forward with immediate effect.

The Sahamamy project will be kept in care and maintenance pending completion of financing arrangements at an estimated monthly cost of c.US$30,000 thus reducing the overall cost base of the Company and allowing for the efficient utilisation of resources at Vatomina.

This is expected to facilitate the Company to meet its operational costs while funding arrangements are being negotiated.

The Company has realigned its orderbook from the month of August, shipping to customers that either prepay or pay against shipment of goods to better manage working capital.

This is achieved with continued tail winds supportive of the few current commercial non-Chinese flake graphite sources globally such as the Company.

Tirupati Graphite plc confirms that 50% or more of our revenues are derived from the Tier 1 and/or Tier 2 micro sectors of the FTSE Russell's Green Revenues Classification System.