SCHEDULE 13G/A 0001493152-25-008511 0001279913 XXXXXXXX LIVE 1 Common Stock, $0.01 par value per share 03/31/2025 0000931148 GRAFTECH INTERNATIONAL LTD 384313508 982 Keynote Circle Brooklyn Heights OH 44131 Rule 13d-1(c) Marathon Asset Management GP, L.L.C. DE 19308566.00 0.00 19308566.00 0.00 19308566.00 N 7.5 OO See item 2 for additional information. Marathon Asset Management, L.P. DE 19308566.00 0.00 19308566.00 0.00 19308566.00 N 7.5 IA See item 2 for additional information. MDCF II Investment Fund A SCSp N4 15058586.00 0.00 15058586.00 0.00 15058586.00 N 5.9 PN See item 2 for additional information. Bruce Richards X1 19308566.00 0.00 19308566.00 0.00 19308566.00 N 7.5 IN See item 2 for additional information. Louis Hanover X1 19308566.00 0.00 19308566.00 0.00 19308566.00 N 7.5 IN See item 2 for additional information. 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) MDCF II Investment Fund A SCSp, a Luxembourg special limited partnership ("MDCF II"); (iv) Bruce Richards, a managing member of Marathon GP; and (v) Louis Hanover, a managing member of Marathon GP. Marathon, pursuant to certain investment management agreements and in its capacity as the investment manager of certain funds managed by Marathon (together with MDCF II, the "Marathon Funds"), has the sole power to vote and the sole power to direct the disposition of the 19,308,566 shares of common stock, par value $0.01 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 19,308,566 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. MDCF II is organized under the laws of Luxembourg. Mr. Richards and Mr. Hanover are citizens of the United States. Y Marathon GP; Marathon; Mr. Richards; and Mr. Hanover - 19,308,566 MDCF II - 15,058,586 Marathon GP; Marathon; Mr. Richards; and Mr. Hanover - 7.5% MDCF II - 5.9% Marathon GP; Marathon; Mr. Richards; and Mr. Hanover - 19,308,566 MDCF II - 15,058,586 0 Marathon GP; Marathon; Mr. Richards; and Mr. Hanover - 19,308,566 MDCF II - 15,058,586 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. 1. A Joint Filing Agreement, dated as of February 27, 2025, among the Reporting Persons (incorporated by reference to Exhibit 99.1 to the Schedule 13G filed with the Securities and Exchange Commission on February 27, 2025). Marathon Asset Management GP, L.L.C. /s/ Jamie Raboy 05/15/2025 Marathon Asset Management, L.P. /s/ Jamie Raboy 05/15/2025 MDCF II Investment Fund A SCSp /s/ Jamie Raboy 05/15/2025 Bruce Richards /s/ Bruce Richards 05/15/2025 Louis Hanover /s/ Louis Hanover 05/15/2025