Graphite One Enters Non-binding Supply Agreement With Lucid Group

The Supply Agreement is non-binding providing for 5,000 tpa once Graphite One commences production of synthetic graphite. The initial term is for 5 years, subject to earlier termination. Sales are based on an agreed price formula linked to future market pricing as well as satisfying base case pricing agreeable to both parties. The Supply Agreement is subject to other terms, conditions and termination rights standard for an agreement of this nature.