Zinnwald Lithium : Presentation to Benchmark 2023 Gigafactories conference

Focused on becoming an important lithium supplier to Europeʼs fast-growing battery sector

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OVERVIEW

DEVELOPING THE 100% OWNED INTEGRATED ZINNWALD LITHIUM HYDROXIDE PROJECT IN GERMANY

ATTRACTIVE	EXCELLENT	SUSTAINABILITY	STRONG
PROJECT	LOCATION	ADVANTAGES	SUPPORT

• • Plan to produce 12ktpa lithium hydroxide (LiOH) starting end 2026 at a cash cost of $6,120/t (PEA 2022)

• • By-products include high-value SOP fertiliser

• • Plan to deliver BFS by the end of 2023

• • Potential to upgrading resource which could support higher output

• • New European Critical Raw Materials Act

• • Situated in the old mining region of Saxony, which is supportive of critical mineral projects

• • Brownfield site with existing infrastructure above & below ground

• • The centre of European EV car manufacturing & gigafactory development

• • Focus on lithium, which is critical in clean energy transitions

• • Located close to final end markets

• • Integrated production planned

• • Non water intensive & relatively energy efficient process

• • Potential to be a low waste operation

• • Strategic cornerstone shareholder in leading European based global critical materials company AMG

• • Three successful equity fund raisings in 29 months - all supported by key shareholders

• • Strong cash position and well placed to push forward with next stage

LITHIUM MARKET 220,000Mt 30% The gap to the 2,000,000Mt in demand expected in 2030 if all the lithium projects expected to come online by 2030 did. S&P GlobalThe potential annual growth of the entire Li-ion battery chain from 2022 to 2030 to reach a value of +$400bn & a market size of 4.7 TWh.1. McKinsey 2022 11.2Mt 84% The annual production of LCE needed by 2050 with energy storage making up two-thirds of battery demand by that date. BMI Oct 2022 The percentage of all lithium produced used in batteries for EVs by 2025. S&P Global 234 $7bn Without recycling, the new lithium mines needed by 2050 to meet demand or 20x more lithium than was mined in 2021. BMI 2022 The amount the global lithium industry needs to invest pa from now until 2028. BMI

Lithium market balance2 LCE 4

Benchmark Battery Gigafactories Europe - March 2023

LITHIUM IN EUROPE

LiOH DEMAND

LiOH is the compound of choice for European battery makers with demand for it potentially exceeding that for Li carbonate by 2030.

NEW PROPOSALS EUROPEAN CRITICAL RAW MATERIALS ACT

Targeting domestic capacities of ≥10% & ≥40% of the EUʼs annual consumption for extraction & processing respectively, reduced administrative burden & simplified permitting procedures. European Commission