Evolution Energy Minerals (“Evolution” or the “Company”) is pleased to announce that the Company has
signed a strategically significant Memorandum of Understanding (“MOU”) with Chinese graphite products
specialist Yichang Xincheng Graphite Co Ltd (“YXGC”) for coarse flake offtake and downstream value-addition
into high-value products. YXGC is the leading global producer of high value expandable graphite and graphite
foil for the electronics industry.