International Graphite Limited has been awarded a $4.7 million grant from the Australian Government through the national Critical Minerals Development Program administered by the Federal Department of Industry, Science and Resources. The funds, which are expected to be available from 1 June 2023, will help fast-track the integrated mine-to-market graphite supply chain the Company is developing in Western Australia. Grant funding will be used to advance feasibility studies for the Company's proposed graphite mine at Springdale, and advanced battery anode material manufacturing plant at Collie, as well as construction of a planned graphite micronising facility, also at Collie.

The Company will contribute to the balance of the funding requirements for those activities over time.