27 October 2023

Beowulf Mining Plc

("Beowulf" or the "Company")

Chinese Export Controls on Natural Graphite Products

Beowulf (AIM: BEM; Spotlight: BEO), is pleased to provide a comment on the Chinese government announcement dated 20 October 2023 with regards to the export controls on graphite products as from 1 December 2023.

Chinese Export Controls

On 20 October 2023, China announced its decision to impose export controls on natural graphite and synthetic graphite (including graphite anode materials). Graphite anodes are a key component in Lithium-Ion Batteries (“LIBs”)