Ann: Half Yearly Report and Accounts, page-4

Anode Active Material Project (USA)
Following the announcement, in February 2023, of the offtake agreement with the leading international EV
manufacturer the Company has continued to progress plans to, in due course, establish an Anode Active
Material (AAM) manufacturing plant utilising high quality and high purity natural graphite feedstock from
its Nachu Graphite project in Tanzania. Over the financial half-year, no material expenditure was incurred
in relation to the Anode Active Material project.