Inactive Instrument

Allkem

Equities

AKE

AU0000193666

Orocobre : Annual Report to Shareholders OROCOBRE_Annual-Report-2018_FINAL.pdf

October 15, 2018 at 06:18 pm EDT

ANNUAL

2018 REPORT

Contents

Overview
Highlights 2017-2018	4
Letter from the Chair	6
Orocobre at a glance	8
Where we are	9
Corporate Strategy	10
Sustainability & Our Communities	12
Operating & Financial Review
Performance Overview	15
Assets Overview	18
Olaroz Lithium Facility & The Lithium Market	19
Borax Argentina S.A. & The Borates Market	28
Advantage Lithium & Cauchari JV	34
Health, Safety & Community	36
Directors' Report
Executive Leadership Team	39
Remuneration Report	48
Auditor's Independence Declaration	65
Corporate Governance Statements	66
Financial Report
Financial Statements	69
Directors' Declaration	122
Independent Auditor's Report	123
Additional Information
Resources & Reserves	129
Schedule of Tenements	139
Shareholder & ASX Information
Shareholder Information	147
Corporate Directory	154
OROCOBRE ANNUAL REPORT 2018 3

Highlights 2017-2018

Orocobre Limited

Olaroz Lithium Facility

A$361 million

funding completed

including a 15% placement to TTC valued at US$284.1 million

US$317 million

cash balance

available as of end FY18

Record EBITDAIX of

US$94.6 million

Average price received of

up 33%

US$12,578

per tonne, up 29%

Gross Cash Margin of 67%, delivering

US$8,384

per tonne, up 39%

Second full year of production totalling

12,470 tonnes

Record yearly revenue

US$148.9 millionUS$40 million

up 5%up 24%

Stage 2 expansion early works program underway with new ponds, roads and camp infrastructure

Borax Argentina S.A.

Record production

at both Tincalayu and the Boric Acid plant at Campo Quijano

Plant & equipment

written down to nil value recognising ﬁnancial performance

Cauchari Joint Venture

+6-fold increase

of the inferred resource to 3 Mt Lithium Carbonate Equivalent (LCE) at Cauchari

Phase III drilling

has commenced to upgrade the inferred resource and measured and indicated resources for the Feasibility Study

Signiﬁcant potential for additional

resource expansion at depth

OROCOBRE ANNUAL REPORT 2018 5

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Disclaimer

Orocobre Limited published this content on 16 October 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 15 October 2018 22:17:01 UTC

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Company Profile

Allkem Limited is a specialty lithium chemicals company with a global portfolio of lithium chemicals. The Company is principally engaged in mineral extraction, production, and chemical processing. The Company's segments include Olaroz, Mt Cattlin, James Bay, Sal De Vida projects, and Corporate. Its flagship Olaroz brine-based lithium facility is based in Northern Argentina and supplies lithium chemicals across the globe. The Mt Cattlin spodumene project (Mt Cattlin) produces spodumene concentrate utilizing conventional techniques to extract and process the resource. This wholly owned project is located two kilometers (km) north of the town of Ravensthorpe in Western Australia. The James Bay Project is located in northern Quebec, approximately 130 km east of James Bay and the Cree Nation of Eastmain community. Sal De Vida project is a tier one brine project, which is located in Catamarca Province on the Salar del Hombre Muerto. Its other project includes Cauchari mineral resource.

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