Award for Best Sustainable Value Creation Strategy

24 March 2021

Tirupati Graphite plc ('Tirupati' or the 'Company')

2021 Global Award for Best Sustainable Value Creation Strategy

Tirupati Graphite plc, the fully integrated, revenue generative, specialist graphite producer and graphene developer with operations in Madagascar and India, is pleased to announce that it has won CFI.co's 2021 global award for Best Sustainable Value Creation Strategy.

More information on CFI.co's global award can be found here: https://cfi.co/awards/category/europe/

Shishir Poddar, CEO of Tirupati Graphite, said, "We are delighted that Tirupati, focused on being a green source in the supply chain for EVs, flame retardants and other green applications, has been recognised for its efforts in building value through sustainable strategies. We as a Company have believed in sustainability in all spheres, including environmental, social and value creation and have built our strategies around this concept.  Our strategies of modular development, early cash flows, integration, adoption and development of green processes and technologies for creating green materials all emanate from this concept and our experience and understanding of the graphite industry.

"Notably, this achievement follows receipt of the Green Economy Mark accreditation from the London Stock Exchange, which also acknowledges our efforts in utilising green processes and technologies to develop green materials.  With market sentiment behind us, we are excited to be fast-tracking every aspect of the business, including the commercialisation of spherical graphite ('SPG') used in the anode of lithium-ion batteries, in tandem with a globally recognised German manufacturer and continuing discussions with prospective buyers of SPG including automobile majors, battery and anode manufacturers."

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For further information, please visit https://www.tirupatigraphite.co.uk/ or contact:

Notes

Tirupati Graphite Plc is a revenue-generative, multi-asset, multi-jurisdictional, fully integrated producer and developer of high-grade natural flake graphite, speciality graphite and graphene, which captures the entire value chain.  With a unique set of properties, graphite has diverse applications with multiple growth streams and graphene forms the new generation of 2D materials. In support of this, the Company places a special emphasis on "green" applications, including renewable energy generation, energy storage and composites, and is committed to ensuring its operations are sustainable as well.

The Company's operations include primary mining and processing in Madagascar, where the Company operates two key projects, Sahamamy and Vatomina; 3,000 tpa of high-quality flake graphite concentrate with up to 96% purity is currently being produced and sold to customers globally, and this is planned to increase to 84,000 tpa by 2024 as per the Company's modular medium-term development plan.

In India, through Tirupati Speciality Graphite Private Limited ('TSG'), with whom the Company has a binding acquisition agreement subject to regulatory approvals, Tirupati processes and produces speciality graphite for use in hi-tech applications like lithium-ion batteries, fire retardants and composites. Its specialty graphite processing operations include the 1,200 tpa Patalganga Project, which was commissioned in July 2019 to manufacture and sell CARBOFLAMEX®, a trademarked fire-retardant expandable graphite product.  At the next stage of development, Patalganga shall further be expanded to 4,800 tpa capacity with capabilities to also produce high purity and micronised graphite, so increasing market and product reach by 2021. TSG has developed unique green processing technologies for manufacturing these advanced materials.

After establishing itself in the specialty graphite markets through the Patalganga Project, an additional 24,000 tpa specialty graphite processing facility is to be established in two 12,000 tpa phases.  The plant will produce expandable, high purity, micronised and spherical graphite.  The west coast of India has been chosen as the location and a detailed feasibility study has been completed.  TSG is also in the process of establishing the Tirupati Graphene and Mintech Research Centre, a state-of-the-art R&D centre focussed on manufacturing graphene, developing its applications, and further providing environmentally friendly technologies consultancy for mineral processing.  Land acquisition is in progress in Bhubaneswar, India, and a detailed feasibility study completed.