Ann: Response to ASX Price and Volume Query, page-2

23) If the answer to question 1 is “no”, is there any other explanation that EGR may have for the recent trading in its securities?

EGR notes an improved sentiment for battery mineral markets as increased production of electric vehicles and lithium-ion batteries are considered a key support for global COVID-19 economic recovery plans. In particular, there appears to be a heightened Australian Government focus on securing alternative and resilient supply chains for critical minerals, including battery graphite, outside of China.

EGR notes today’s articles from the Age and the Sydney Morning Herald that reflect this sentiment and quote EGR’s Managing Director, Andrew Spinks. Improved sentiment is outside the control of EGR and the articles do not contain any information that was not previously in the public domain.