The photoemission spectrum of graphite is still debated. To help resolve this issue, we present photoemission measurements at high photon energy and analyze the results using a Green's function approach that takes into account the full complexity of the loss spectrum. Our measured data show multiple satellite replicas. We demonstrate that these satellites are of intrinsic origin, enhanced by extrinsic losses. The dominating satellite is due to the π + σ plasmon of graphite, whereas the π plasmon creates a tail on the high-binding energy side of the quasiparticle peak. The interplay between the two plasmons leads to energy shifts, broadening, and additional peaks in the satellite spectrum. We also predict the spectral changes in the transition from graphite towards graphene.