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GEOPOLITICS FAVOR NMG » New restrictions on Chinese graphite exports Battery/EV manufacturers pressed to secure volumes and commercial agreements with graphite suppliers outside China Bloomberg Green | Hyperdrive US Sets Limits on Chinese Content to Receive EV Tax Credits ■Rules set 25% threshold of ownership for foreign adversaries ■Decision may limit qualifying number of EVs for $7,500 credit BARRON'S COMMODITIES China Tightens Controls on Graphite. The Hunt Is On for New Supplies. By Evie Liu Oct 21, 2023, 2:15 am EDT Share AA Resize Reprints China's stricter controls over graphite exports mean companies, including electric- vehicle makers such as Tesla, will have to accelerate their search for alterative sources of the mineral. - Chinese graphite exports plunge in early 2024 >> US targets China as a "foreign entity of concern" - Battery components or critical minerals sourced from China or Chinese-controlled companies disqualify EV incentives Middle East tensions are increasing the risk associated with international shipping Mining.com Column: China ups critical minerals heat with graphite controls - MINING.COM China is upping the critical minerals stakes by curbing exports of graphite, a key raw material in electric vehicle batteries. → Reuters US to limit Chinese firms, battery parts from winning EV tax credits WASHINGTON, Dec 1 (Reuters) - The Biden administration on Friday issued-long awaited guidance that will limit Chinese content in batteries... REUTERS China curbs graphite exports in latest critical minerals squeeze Reuters October 20, 2023 4:03 AM EDT Updated 4 days ago 口 Aa NMG.com + NYSE: NMG | TSXV: NOU | FSE: NM9A V +17 + PROPRIETARY & CONFIDENTIAL MMG

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