Liontown Resources : Investor Presentation - July 2019

DEVELOPING AN AUSTRALIAN LITHIUM BUSINESS

ASX : LTR |July 2019

Important Information

Forward Looking Statements

This Presentation may include statements that could be deemed "forward-looking statements". Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those expected in the forward-looking statements or not take place at all.

No offer to sell or invitation to buy

This Presentation is not, and should not be considered to, constitute any offer to sell, or solicitation of an offer to buy, any securities in Liontown Resources Limited, and no part of this Presentation forms the basis of any contract or commitment whatsoever with any person. Liontown Resources Limited does not accept any liability to any person in relation to the distribution or possession of this Presentation from or in any jurisdiction.

Disclaimer

Whilst care has been exercised in preparing and presenting this Presentation, to the maximum extent permitted by law, Liontown Resources Limited and its representatives:

• make no representation, warranty or undertaking, express or implied, as to the adequacy, accuracy, completeness or reasonableness of this Presentation;
• accept no responsibility or liability as to the adequacy, accuracy, completeness or reasonableness of this Presentation; and
• accept no responsibility for any errors or omissions from this Presentation.

Competent Person Statement

The Information in this report that relates to Mineral Resources for the Kathleen Valley Project is extracted from the ASX announcement "Kathleen Valley Lithium Resource jumps 353% to 74.9Mt @ 1.3% Li2O" released on the 9th July 2019 which is available on www.ltresources.com.au.

The Information in this report that relates to Metallurgy for the Kathleen Valley Project is extracted from the ASX announcement "Highly encouraging results from initial metallurgical test work at the Kathleen Valley Lithium-Tantalum Project, WA" and "Kathleen Valley Lithium Resource jumps 353% to 74.9Mt @ 1.3% Li2O" released on the 12th November 2018 and 9th July 2019 respectively which are available on www.ltresources.com.au.

The Information in this report that relates to the Scoping Study for the Kathleen Valley Project is extracted from the ASX announcement "Kathleen Valley Scoping Study confirms potential for robust new WA lithium mine development" released on the 29th January 2019 which is available on www.ltresources.com.au.

The Information in this report that relates to Exploration Results for the Kathleen Valley Project is extracted from the ASX announcements "Latest drilling extends thick, high- grade zone at Kathleen Valley further north as strong assay results continue", "Spectacular intercept of 90m @ 1.3% Li2O at Kathleen Valley" and "Work commences on Kathleen Valley Resource update as drilling continues to deliver wide, high grade lithium results" and "Further spectacular drill intercepts returned from Kathleen Valley" released on the 9th May 2019, 20th May 2019, 3rd June 2019 and 24th June 2019 respectively which are available on www.ltresources.com.au.

The Information in this presentation that relates to the Exploration Results for the Buldania Project is extracted from the ASX announcements entitled "More strong assays confirm significant lithium discovery at Buldania Project in WA", "Liontown confirms second significant lithium discovery in WA with new thick, high-grade hits at Buldania", "Outstanding new drilling results continue to expand lithium mineralisation at Buldania", "Liontown further expands prospective lithium footprint at Buldania in WA's South-Eastern Goldfields", "Latest assays confirm lithium mineralisation over >1.3km strike length at the Buldania Lithium Project in WA" and Liontown expands lithium footprint at Buldania in WA's South-Eastern Goldfields" released on the 26th March 2018, 19th September 2018, 1st November 2018,13th November 2018, 20th November 2018 and 14th March 2019 respectively which are available on www.ltresources.com.au.

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. The company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcements.

2

A Next Generation Lithium Producer

Kathleen Valley Lithium Project

KALGOORLIE

PERTH

Buldania Lithium Project

Low Risk	•	Western Australia
•	Granted Mining Leases

Location	•	Established mining region
•	Modern infrastructure

• Kathleen Valley - 5th

Quality biggest resource in Australia

• 83% M&I

•	100%
Ownership •	No third party obligations
	(excluding royalties)

Going	• Kathleen Valley PFS Q4 2019
• Maiden MRE at Buldania
Forward
• Exploration upside

3

KATHLEEN VALLEY

LITHIUM PROJECT

PERTH

Project Overview

	JULY 2019 RESOURCE
1	74.9Mt @ 1.3% Li2O and 140ppm Ta2O5
83% Measured and Indicated

353% increase on maiden 2018 MRE

Kathleen Valley

Lithium Project

2	PFS scheduled for completion Q4 2019

3 Conventional mining and processing

Test work confirms ~6% DMS spodumene

4 concentrate - feasibility-level test work ongoing

Scoping Study (January 2019) open pits

5 largely constrained by limit of maiden MRE data

Resource is open along strike and at

6 depth

5