SCHEDULE 13G 0001279913 XXXXXXXX LIVE Common Stock, $0.01 par value per share 02/20/2025 0000931148 GRAFTECH INTERNATIONAL LTD 384313508 982 Keynote Circle Brooklyn Heights OH 44131 Rule 13d-1(c) Marathon Asset Management GP, L.L.C. DE 14249980.00 0.00 14249980.00 0.00 14249980.00 N 5.5 OO Marathon Asset Management, L.P. DE 14249980.00 0.00 14249980.00 0.00 14249980.00 N 5.5 IA Bruce Richards X1 14249980.00 0.00 14249980.00 0.00 14249980.00 N 5.5 IN Louis Hanover X1 14249980.00 0.00 14249980.00 0.00 14249980.00 N 5.5 IN GRAFTECH INTERNATIONAL LTD 982 Keynote Circle, Brooklyn Heights, OH, 44131 (i) Marathon Asset Management, L.P., a Delaware limited partnership ("Marathon"); (ii) Marathon Asset Management GP, L.L.C., a Delaware limited liability company ("Marathon GP"), the general partner of Marathon; (iii) Bruce Richards, a managing member of Marathon GP; and (iv) Louis Hanover, a managing member of Marathon GP. Information with respect to each of the Reporting Persons is given solely by such Reporting Person, and no Reporting Person assumes responsibility for the accuracy or completeness of information by another Reporting Person. A Joint Filing Agreement among the Reporting Persons is attached hereto as Exhibit 99.1. Marathon, pursuant to certain investment management agreements and in its capacity as the investment manager of certain funds managed by Marathon (the "Marathon Funds"), has the sole power to vote and the sole power to direct the disposition of the 14,249,980 shares of common stock, par value $0.001 per share (the "Common Stock"), held by the Marathon Funds. Accordingly, for the purposes of Section 240.13d-3 of the Exchange Act, Marathon may be deemed to beneficially own the 14,249,980 shares of Common Stock held by the Marathon Funds. The general partner of Marathon is Marathon GP. Bruce Richards and Louis Hanover are the managing members of Marathon GP. This report shall not be deemed an admission that Marathon, each Marathon Fund or any other person is the beneficial owner of the securities reported herein for purposes of Section 13 of the Exchange Act or for any other purpose. The principal business and principal office address of the Reporting Persons is c/o Marathon Asset Management, L.P., 1 Bryant Park, 38th Floor, New York, NY 10036. Marathon GP and Marathon are organized under the laws of the State of Delaware. Mr. Richards and Mr. Hanover are citizens of the United States. Y 14,249,980 5.5% 14,249,980 0 14,249,980 0 Y Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. Marathon Asset Management GP, L.L.C. /s/ Jamie Raboy 02/27/2025 Marathon Asset Management, L.P. /s/ Jamie Raboy 02/27/2025 Bruce Richards /s/ Bruce Richards 02/27/2025 Louis Hanover /s/ Louis Hanover 02/27/2025