[7] May 2024

Tirupati Graphite plc

('Tirupati', the 'Group' or the 'Company')

Issue of Subscription Shares and Total Voting Rights

Tirupati Graphite plc (TGR.L), the specialist Flake Graphite company and supplier of the critical mineral for the global energy transition, is pleased to announce the issue of 5,209,090 o rdinary shares of £0.025 each in the capital of the Company (the 'Subscription Shares') per 17 January 2024 RNS, for amounts owing by the Company to the persons listed below agreed in respect of past fees or remuneration salary sacrifice, in respect of their office with or engagement by the Company.

*The £50,000 cash subscription per 17 January 2024 RNS from Erden Investments Limited, a family-owned Company of Mr. Murat Erden, was not received by the Company.*

Per 17 January 2024 RNS, to avoid the Company incurring additional costs in respect of regulatory requirements under the U.K. Prospectus Regulation regime, the issue and admission of the Subscription Shares was deferred until such date as the Company had sufficient headroom to admit the Subscription Shares without having to issue a prospectus.

Admission and Total Voting Rights

The Subscription Shares will rank pari passu with the existing ordinary shares of £0.025 each of the Company ('Ordinary Shares') and the Subscription is conditional only on admission of the Subscription Shares to the Standard Segment of the Official List of the Financial Conduct Authority ('FCA') and to trading on the Main Market of the London Stock Exchange, with such admission and trading expected to become effective on or about 8.00 a.m. around 10 May 2024 ('Admission').

Following the issue of Subscription Shares the Company's issued share capital will comprise 129,508,310 ordinary shares of £0.025 each. The above figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

ENDS

For further information, please visit  https://www.tirupatigraphite.co.uk/  or contact: 

About Tirupati Graphite  

Tirupati Graphite Plc is a specialist Graphite producer and a supplier of the critical mineral for a decarbonised economy and the energy transition. The Company places a special emphasis on green applications including renewable energy, e-mobility, energy storage and thermal management, and is committed to ensuring its operations are sustainable. 

The Company's operations include primary mining and processing in Madagascar where the Company operates two key projects, Sahamamy and Vatomina with a combined 30,000 tpa of currently installed capacity, producing high-quality flake graphite concentrate with up to 97% purity and selling to customers globally. 

The Company also holds two advanced stage, world class, natural graphite projects in Mozambique. Work has already commenced to optimise the economics for development of the Montepuez graphite project, which is permitted for 100,000tpa production and where substantial construction work has already been undertaken by the predecessor. A table of the Company's projects is provided below: