Syrah Resources' natural graphite sales and market update

Syrah Resources Limited (ASX: $SYR) has successfully completed its first large volume natural graphite fines sale to PT Indonesia BTR New Energy Materials in Indonesia. The 10kt break bulk shipment was delivered from its Balama Graphite Operation in Mozambique, marking a significant milestone in the Company's sales strategy to diversify its customer base and expand its presence in the battery supply chain outside China. Unlike its usual approach to longer term sales contracts, the details of this spot priced sale were finalized concurrent with delivery and payment.

Executive Commentary on Market Conditions and Sales Strategy

The natural graphite sale to PT Indonesia BTR New Energy Materials represents a key step in our efforts to transition our sales to a more geographically diversified and commercially aligned customer base. This sale underscores our unique position in natural graphite and AAM supply outside of China. We are also focused on developing further natural graphite fines sales to PT Indonesia BTR New Energy Materials, leveraging Balama's provenance and quality to adapt to evolving market dynamics. Additionally, the positive market conditions for coarse flake natural graphite and the expected increase in the granting of China export licenses are anticipated to support higher natural graphite fines demand as consumption and re-stocking flow through the Chinese anode supply chain.

Summary of Syrah Resources' Announcement

Syrah Resources (ASX: $SYR) has achieved a significant milestone with its first large volume natural graphite fines sale to PT Indonesia BTR New Energy Materials in Indonesia, marking a strategic shift in its sales strategy to diversify its customer base and expand its presence in the battery supply chain outside China. The Company aims to further develop natural graphite fines sales to PT Indonesia BTR New Energy Materials, leveraging Balama's provenance and quality to adapt to evolving market dynamics. Moreover, the positive market conditions for coarse flake natural graphite and the expected increase in the granting of China export licenses are anticipated to support higher natural graphite fines demand. Syrah's vision to be the world's leading supplier of superior quality graphite and anode material products aligns with its strategic efforts to capitalize on emerging market opportunities and enhance its position in the global graphite market.