Announcement • Jun 09
Total Graphite plc Announces Board Changes Total Graphite plc announced that Mr. Thomas Hill, currently Chief Financial Officer, was appointed to the Board as Finance Director. Mr. Hill continues to play a key role in the Company's financial and operational development whilst supporting the execution of the Company's strategic objectives. Mr. Andrew Wright was appointed to the Board as Non-Executive Director. Mr. Wright is an English-qualified solicitor with over 25 years' experience advising on UK and international transactions across the natural resources sector, including a decade in private practice at White & Case and Vinson & Elkins, followed by a decade as General Counsel to a sovereign wealth fund in the UAE followed by a significant industrial conglomerate, overseeing complex cross-border M&A and financing activity while embedding robust corporate governance frameworks. Mr. Wright has deep sector expertise spanning mining and minerals, energy and renewables, with hands-on experience of resource development gained as a director of an iron ore project in Minnesota, and a broader track record across mergers and acquisitions, private equity, project finance and corporate restructuring in both developed and emerging markets. Wright holds a number of current board positions, including non-executive directorships of an investment bank and a gas exploration company. Mr. Mark Rollins has stepped down as Non-Executive Chairman due to other full-time commitments. To maintain continuity for the duration of the Programme, Mr. Christian Dennis, current Non-Executive Director, has been appointed Interim Non-Executive Chairman whilst a process to appoint a permanent Chairman is conducted, and a further announcement will be made in due course. Mr. Michael Lynch-Bell has stepped down from the Board in order to concentrate on other activities. New Risk • May 26
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 450% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 33% per year over the past 5 years. Shareholders have been substantially diluted in the past year (450% increase in shares outstanding). Minor Risks Revenue is less than US$5m (UK£1.9m revenue, or US$2.5m). Market cap is less than US$100m (UK£9.72m market cap, or US$13.1m). Announcement • Apr 29
Tirupati Graphite plc Announces Madagascar Operations and Production Update Total Graphite Plc provide an operational update for its Madagascar flake graphite projects. Operations resumed on site following the completion of the fundraising at end of March 2026. • Extensive preparatory maintenance across the project's processing plant and mining fleet, was completed ahead of the operational restart utilising resupply deliveries which arrived at the end of Third Quarter 2025. • The CEO and CFO, together with other group management personnel completed a cumulative 2 week site visit during this month. • Meetings were held with the Ministry of Mining to brief the minister on current operations and future potential development plans. • Shipments from Vatomina to port for onwards delivery to international customers has resumed during April. Mining has resumed from the BK6 mining area, and as has processing via Pre-Concentrate Units ("PCU"), PCU 3 and PCU 4 and the Vatomina Final Processing Plant ("FCU") is ongoing. • Production from PCU1 and 2 is expected to restart in first half of June following: o relocation to Old Mine area, identified as within suitable proximity to new, sufficient quality mining areas; and, o expansion of tailings storage and water reservoir facilities. • Installation and commissioning of a new 3 ton per hour dryer was completed and is operational at the FCU, increasing total drying capacity to 4.5 tons per hour. • Ongoing stockpiling is underway at the operational and future PCU locations to establish equivalent to a month's worth run-of-mine ore to mitigate bad weather. • The Company is finalising a full-year mine plan and a 12-month drilling programme to support long-term growth. • Spare parts inventory has been further built up in order to be ready to deal with future potential breakdowns and damage of equipment in the processing of graphite. A continuous schedule of equipment and parts resupply has been established going forward. Fuel supplies have remained available despite the conflict in the Middle East. However, increased prices and currency fluctuations have meant average fuel costs have risen by over 15% in the short term. • A proposal to introduce solar power generation on-site and reduce exposure to fuel prices is under review. A re-development plan for Sahamamy, that includes a significant hydropower capacity increase is under preparation. The Sahamamy project represents a potential additional 18,000 tpa key strategic growth asset, 8km West of Vatomina. • The existing applications and their status for three additional licences around the Sahamamy project and their progress were discussed in meetings with the ministry of mining over the past two weeks. 
