Walkabout Resources Ltd. announced the signing of an amended Binding Sales, Purchase and Marketing Agreement with Wogen Pacific Limited for the supply of all exported graphite production from its Lindi Jumbo Graphite Project in southeast Tanzania. The Agreement replaces the on signed with Wogen in 2019. The original Agreement allowed for a volume of production not already committed to other customers to be sold to Wogen.

Under the amended terms of the Agreement, the full export production of Lindi Jumbo shall be sold to Wogen for a minimum term of 5 years. Contract is renewable. Wogen shall distribute the product into the global market, drawing on its substantial expertise and resources in speciality commodities marketing.

Existing offtake agreements with other customers will be renegotiated to reflect this new arrangement. The existing customers are supportive of this approach. The amended binding Agreement will allow Lindi Jumbo to harness the skills and resources of an established international commodities marketing organisation across its full production capacity.

Lindi Jumbo will draw on the considerable market knowledge and relationships Wogen has established in the graphite market since partnering with Walkabout Resources and Lindi Jumbo in 2019. It is anticipated that Lindi Jumbo's sales book will be more diversified and have greater exposure to shorter term pricing than previously as a result of the new arrangement. The Agreement also provides Lindi Jumbo enhanced access to supply chain financing, supporting the objective of operating a capital-efficient balance sheet.

Commencement: Pre-production phase continues in line with 2019 Agreement. Production phase commences upon Lindi Jumbo reaching 15,000 tonnes per annum export rate. Quantities: Maximum of 40,000 tonnes per annum.

Pricing: Achieved market price less Wogen's commission and distribution costs. Contract Value: Estimated to be approximately USD 260 million (based on the DFS financial model and forecasted graphite prices). Product Specs: 395, 595, 895 and -895 Flake Graphite.

Termination: Bilateral provisions allow termination in the event of suspension of debt payments, winding up, appointment of administrator or receiver, company voluntary arrangements and related circumstances; cessation of all or substantial part of its business or a material breach of the Agreement. Governing Law: England and Wales.