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Investor Presentaiton

Strong Comparative Advantage in PSG Production Vertical Integration underpins low-cost PSG production. Graphite Concentrate feedstock a significant cost input to the PSG manufacturing process. Renascor's PSG operation benefits from obtaining Siviour Graphite Concentrate feedstock at the cost of production rather than buying the feedstock at market price. The difference in feedstock price has an exaggerated impact on PSG operating costs because only half of the Graphite Concentrates used as feedstock are spheronised to PSG during the milling process (i.e., PSG production can be at a 50% yield). Renascor's market data suggests an average operating costs of US$2,000/t PSG for existing PSG market (100% China). Renascor's gross operating cost of US$1,989/t PSG is favourable by comparison. US $/t PSG 3,500 3,000 2,500 2,000 1,500 1,000 500 Siviour PSG cost saving of US$406/t at current market prices for graphite concentrate US$406/t 0 Feedstock valued at Renascor cost Feedstock valued at current market Other PSG Operating Costs Siviour PSG cost saving of US$1,154/t over life of operation US$1,154/t Feedstock valued at life of mine market Graphite Concentrate Feedstock Cost Renascor Resources Ltd | ASX: RNU Source: Benchmark Mineral Intelligence renascor.com.au 15
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