#1EL LITHIUM ENERGY LTD SCOPING STUDY INVESTOR PRESENTATION Solaroz Lithium Brine Project, Argentina High margin lithium project with large scale & long life potential 31 OCTOBER 2023 ASX:LEL lithiumenergy.com.au#2A HIGH MARGIN, LARGE SCALE LITHIUM PROJECT Developing Solaroz for sustainable lithium supply Outstanding project economics لا لاکا Significant upside opportunity with resource expansion potential L Scoping Study demonstrates low technical and development risk Multiple EV Battery parties seeking partnership HATCH Design and Engineering components of Study undertaken by global professional services firm, Hatch EL LITHIUM ENERGY LTD ASX:LEL 2#3SOLAROZ LITHIUM BRINE PROJECT Scoping Study confirms exceptionally strong project economics for both 20ktpa and 40ktpa LCE production scenarios Pre-Tax NPV1 10 20ktpa 40ktpa US$2.3bn US$3.9bn 20ktpa 40ktpa Pre-Tax IRR 41% 44% 20ktpa Mine Life 36 years 40ktpa 19 Years Capital Payback Period (Post Tax) 20ktpa 2.5 years 40ktpa 2 years Annual EBITDA 20ktpa US$378m 40ktpa US$730m CAPEX (ex 30% contingency) 20ktpa US$542m US$987m 40ktpa ELLITHIUM ENERGY LTD Source: LEL ASX Announcement dated 31 October 2023: Scoping Study Highlights Solaroz Potential as a Large Scale, Long Life, High Margin Lithium Project. The Company confirms that all material assumptions underpinning the production targets and forecast financial information derived from the production targets in this Announcement continue to apply and have not materially changed. ASX:LEL 3#4CORPORATE OVERVIEW Lithium Energy Limited (ASX:LEL) Fully Paid Ordinary Shares 103,010,000 Options (Exercise Prices: Various $0.30 - $1.595) Market Capitalisation (@ $0.675) (as at 30 October 2023) EL LITHIUM ENERGY LTD 36,500,000 $70 Million کے ASX:LEL 4#5HIGHLY EXPERIENCED TEAM Strong leadership, technical and commercial experience William Johnson Executive Chairman MA (Oxon), MBA, MAICD • Masters degree in Engineering Science from Oxford. . • • 35 year international business career, resource exploration and development. Highly experienced public company director. Victor Ho Company Secretary & CFO BCom, LLB (Western Australia), CTA • 23+ years executive roles with ASX-listed companies. • Chartered Tax Adviser (CTA). •Extensive experience in public company administration. Peter Smith Executive Director BSC (Sydney), AIG, ASEG Geophysicist with 30+ years in mineral exploration. • Ex. Normandy, Pasminco, BHP Billiton, Cliffs Natural Resources. • Extensive experience in mineral exploration, development leading to production. Murray Brooker Technical Consultant BSc, MSc, MAIG, RPGeo, MAIH • Extensive experience evaluating salt lake lithium and potash brine projects in Argentina. • Worked extensively in the Olaroz-Cauchari basin in Jujuy, Argentina. JORC competent person for ASX listed Allkem on the Olaroz and Cauchari brine projects. Raúl Di Lena GM Solaroz S.A. BSc Chem Eng; MFin (Magister of Finance, UNR) • Chemical Engineer with 25+ years experience. • Extensive experience with lithium brines in Argentina. • Former Operations Manager for Minera Exar S.A, the local joint venture between Lithium Argentina and Ganfeng Lithium. Graham Fyfe GM Projects BSc Chem Eng • • Chemical Engineer with 30 years resources experience. Ex. De Beers, Rio Tinto, Battery Minerals Limited. Extensive experience with graphite development. Farooq Khan Executive Director Bjuris, LLB (Western Australia) • Executive management of ASX-listed companies. • Extensive experience in the capital markets including capital raisings, mergers and acquisitions and investments. EL LITHIUM ENERGY LTD ASX:LEL 5#6INCREASED BATTERY DEMAND NEEDS SUPPLY • How Many Mines do we Need? No. 2022 Supply vs 2035 Demand Average Mine / Plant Size Mines / Plants Needed 3,322,000 t needed Lithium 4,000,000 t 45,000 t 74 new lithium mines required by 2035 to support global demand 678,000 t Average size 45,000 tonnes LCE Cobalt 312,000 t needed > 5,000 t 177,000 t 489,000 t 500% increase in battery demand by 2035, 3,040,000 t needed 6,200,000 t Nickel 3,160,000 t 42,000 t forecast by Benchmark. Solaroz is ideally positioned to feed into 6,100,000 t needed forecast LCE supply deficit. 7,210,000 t Natural Graphite > 56,000 t 1,110,000 t Supply into US and EU from Argentina supported by policy frameworks and trade agreements. EL LITHIUM Source: Benchmark Mineral Intelligence ENERGY LTD 3,100,000 t needed Synthetic Graphite 5,200,000 t 2,100,000 t 57,000 t bbbbbbb bbbbbbbb bbbbbbb bbbbbbb bbbbbb bbbbbb ASX:LEL 6#7ACCELERATING LITHIUM DEMAND 3.5 million tonnes Lithium Carbonate Equivalent (LCE) needed by 2033 EV adoption continues to gather pace DRIVEN BY EVS 3.5 BEV • Demand for battery materials 3.0 ESS is accelerating as the world 2.5 transitions to net zero. Consumer Electronics 2.0 Industrial 1.5 Other XEV Unprecedented demand from battery electric vehicles (BEVs) continues. Fastmarkets forecasts demand from BEVs to grow by 300% from 2023 to 2033 (20% CAGR). Mt LCE 1.0 10 0.5 EL LITHIUM ENERGY LTD 2022* 2021 2023 2024 2025 *Estimated. 2023-2033 data forecast 2026 2027 2028 2029 2030 2031 2032 2033 Source: Fastmarkets ASX:LEL 7#8LITHIUM BRINE IS KEY FOR FUTURE SUSTAINABLE SUPPLY Brine processing uses less carbon and less water than hard rock lithium sources • Lower carbon emissions • • Lithium carbonate produced from brine typically has less than 1/3 the carbon intensity (CO2 emissions) of equivalent lithium chemicals produced from hard rock deposits. Less water Brine processing uses less than 1/2 the water as spodumene processing. Environmental metrics Benchmark's life cycle assessment (LCA) analysis finds that on almost every metric, lithium chemicals from hard rock sources are more environmentally damaging than those from brine sources. EL LITHIUM Source: Benchmark Lithium ESG Report, March 2023 ENERGY LTD Environmental impact of spodumene vs brine Lithium carbonate produced from brine is less carbon and water intensive than using spodumene ore. Carbon intensity (tonnes CO2eq/ LCE tonnes) Direct water use (m3/LCE tonnes) 30 05 10 15 20 25 30 LCA Metric Value Source: Benchmark Global Lithium LCA Hard Rock Brine 35 35 ASX:LEL 8#9SCOPING STUDY HIGHLIGHTS Key Results Parameters 20ktpa 40ktpa Units LCE LCE Lithium Carbonate Production Tonnes/year 20,000 40,000 Project Life Estimate (including ramp-up) Years 36 19 Capital Cost (CAPEX) (ex 30% contingencies) US$M 542 987 Direct Capital Cost US$M 372 714 (ex contingencies, indirect costs and Owner's costs) Average Annual Operating Cost (OPEX) US$/tonne 4,985 4,611 Average Li₂CO3 Selling Price (assumed constant over life of mine) US$/tonne 25,000 25,000 Average Annual EBITDA US$M 378 730 Pre-Tax Net Present Value (NPV 10) US$M 2,290 3,879 Pre-Tax Internal Rate of Return (IRR) % 41 44 After-Tax and Royalties Net Present Value (NPV10) US$M 1,319 2,200 After-Tax and Royalties IRR % 29 32 Payback Period (After-Tax) Years 2.5 2.0 EL LITHIUM Presented in 100% terms (Lithium Energy: 90%) ASX:LEL ENERGY LTD Current battery grade lithium carbonate (Li₂CO3) is US$28,250/t FOB (South America) as at 18 October 2023 (Source: S&P Global Market Intelligence, 27 October 2023) 6#10SOLAROZ IS HIGHLY COMPETITIVE ON THE COST CURVE Industry Total Cash Cost curve for LCE production 2023 2023 Lithium Production Ranked on Total Cash Cost Scenario: Market Intelligence 2022 Constant USD Total Cash Cost (S/LCE) 0 25 25 30,000 25,000 20,000 15,000 10,000 SOLAROZ 5,000 0 0 EL LITHIUM ENERGY LTD Production (%) 50 75 100 227 455 682 909 Concentrate, Carbonate, Hydroxide, Chloride - LCE Production (000 tonnes) Source: S&P Global Market Intelligence, 27 October 2023 ASX:LEL 10#11SOLAROZ MINERAL RESOURCE ESTIMATE Solaroz hosts a significant, strategic resource of lithium • Total JORC Indicated and Inferred MRE of 3.3Mt of LCE. Indicated category 2.4Mt of LCE. Contains high-grade core of 1.3Mt of LCE with an average concentration of 400 mg/l lithium. 1.3Mt of LCE alone is sufficient for 36 years LCE production at 20ktpa or 19 years at 40ktpa, using solar evaporation. MRE encompasses 8 holes of initial drilling program, with potential to add size and grade with further drilling. EL LITHIUM Refer LEL ASX XX October 2023 "MREUT ENERGY LTD 23°30'S EL Argentina Buenos Aires Payo 2 North Payo 1 Payo 2 South SOZDD007 Rosario Fan Delta Silvia Irene Chico V Chico VI Chico I O SOZDD006 O ● SOZDD002 SOZDD008 SOZDD003 SOZDD004 SOZDD005 Solaroz Lithium Project Mario Angel -SOZDD001 LITHIUM ENERGY LTD Allkem's Olaroz Bore Field -Maria Victoria Concession Allkem's Olaroz Solar Ponds Payo Archibarca Talus Fan Salar de Cauchari 0 Solaroz Lithium Project, Argentina Solaroz Concessions Location Plan 66°30'W Salar de Olaroz Basin ■Susques Indicated Mineral Resource Inferred Mineral Resource Solaroz Concessions Lithium Argentina (TSX: LAAC) Allkem (ASX/TSX: AKE) Solaroz Drill Holes Major road Gravel road Gas pipeline ASX:LEL 10Km www.lithiumenergy.com.au 11#12Evaporation Ponds Scoping Study confirms Solaroz brines are suitable for processing using conventional solar evaporation. 12,000ha Solaroz landholding could support evaporation ponds of similar scale to Allkem and Lithium Argentina. PONDS OR DLE? Solaroz can take advantage of alternative development pathways The favorable climate, infrastructure and chemistry of brines at the Olaroz Salar supports the potential development of Solaroz with traditional solar evaporation and/or DLE technology. OR Direct Lithium Extraction Direct Lithium Extraction (DLE) presents potential benefits including shorter timeframe to production & better recoveries. Agreement with Lanshen for 3,000tpa DLE Demonstration Plant at Solaroz. EL LITHIUM ENERGY LTD Lithium Argentina Cauchari - Olaroz project DLE Plant WUR ASX:LEL 12#13SOLAR POND DESIGN Development base case is solar evaporation Scoping Study modelling confirms suitability of solar evaporation as base development case for Solaroz. • Solaroz concessions have potential to produce up to 40ktpa LCE via solar evaporation pond processing. • Low technical risk as demonstrated by current operations of Allkem and Lithium Argentina on the Olaroz Salar. • Optionality in potential production pathways for Solaroz - with site-based test work ongoing for both conventional evaporation and larger scale DLE. 23°30'S EL LITHIUM ENERGY LTD Mario Angel 1 Payo 2- North Evaporation Ponds Option 1 Payo 1 Payo 2 South Rosario Fan Delta Evaporation Ponds Option 2 Silvia Irene Chico V Chico VI Chico Solaroz Lithium Project Allkem's Olaroz Bore Field Allkem Olaroz Lithium Facility Payo 66°30'W Salar de Olaroz Basin Susques Solaroz Concessions Proposed Solaroz Ponds Major road Gravel road Salar de Cauchari Gas pipeline Lithium Argentina Olaroz-Cauchiri Facility 10Km Illustrative Solar Evaporation Pond Locations within Solaroz concessions in Olaroz Salar ASX:LEL 13#14CONCEPTUAL PLANT DESIGN Layout based on capacity for 40ktpa LCE production DLE Area Boron Removal Area Admin, warehousing and workshops -7430000mN LCE Production Water and Steam Services Brine Holding Ponds 343000mE Mother Liquor Ponds 2 Strings (K1, K2, K3, K4) Evaporation Ponds Option 1 345000mE Payo 2 Payo 1 North Existing Route 70 3950 3945 3940 PC-1 PC-2 3935 3930 Mother Liquor Ponds 2 Strings (K1, K2, K3, K4) 3925 LIME-1 LIME-1 K1-1 K1-2 Process Plant 3920 K2-1 K2-2 K3-2 K3-1 Li-1 Li-2 Process Plant Silvia Irene 3955 3950 3945 PC-2 -7425000mN Purple Areas are the 3940 expansion areas for an additional 20ktpa plant Payo 2 South 3935 PC-1 Existing Route 16 Chico V 3930 PC-2 3925 3920 LIME-1 LIME-1 3915 K1-1 K1-2 Chico Evaporation Ponds Option 2 3910 3905 K3-1 K2-1 K2-2 K3-2 Li-1 Li-2 2500m 20ktpa LCE Processing Plant Layout with purple areas designated for second 20ktpa production line EL LITHIUM ENERGY LTD Evaporation Pond Layout for total 40,000tpa LCE production ASX:LEL 14#15FLOWSHEET CONFIGURATION Standard configuration based on neighbouring operations. Lithium Concentration Evaporation Impurity Removal Calcium Calcium Hydroxide Chloride Boron Removal Sodium Hydroxide Boric Acid to Waste Pond Ca and Mg Removal Ca and Mg Removal Waste Sodium Carbonate Barium Chloride. Concentrated Lithium Liquor Returns to Impurity Removal Hydrochloric Acid Water Sodium Hydroxide Salts Brine from Wells Pre-Concentration Ponds Pure Lithium Carbonite Mother Liquor Liming Lime Waste Solids Crude Lithium Carbonite Mother Liquor Hydrochloric Acid Organic Lime (CaO) Concentrated Lithium Liquor Bleed Water Lime Slurry Ca(OH)2 Evaporation Halite Salts Carbonate Removal Concentrated Final Treatment Ponds Evaporation Lithium Liquor Return to Impurity Removal Salts Secondary Removal Mother Liquor Pond Sodium Carbonate Crude Lithium Carbonate Mother Liquor to Evaporate Cooling Water Cooling Water Return Lithium Carbonate Precipitation Lithium Carbonate Filtration and Ion Exchange Carbon Dioxide Recycle Hydrochloric Acid Water Sodium Hydroxide → Wash Waste → Acid Base Waste Lithium Carbonate Crystallisation Digestion Thickener and Centrifuges Lithium Carbonate Production EL LITHIUM ENERGY LTD Pure Lithium Carbonate Mother Liquor to Evaporate Thickener and Centrifuges Steam →Wash Waste lon Acid Base Ca and Mg Exchange Waste Removal Waste Micronised Lithium Carbonate Lithium Carbonate Micronising & Packaging Drying ASX:LEL 15#16DEVELOPING SOLAROZ FOR SUSTAINABLE LITHIUM SUPPLY 2023 Project Development Q4 Scoping Study Metallurgical Testwork Feasibility Studies Statutory Approvals Detailed Engineering Construction and Commissioning Q1 10 2024 22 Q2 Q3 2025 2026 84 Q4 Q1 10 Q2 Q3 Q4 Q1 Q2 Q3 Q4 10 Q1 2027 Q2 Q3 Q4 == EL LITHIUM ENERGY LTD ASX:LEL 16#17THE SOLAROZ TEAM Lithium Energy has assembled an experienced technical team on site in Argentina EL LITHIUM ENERGY LTD SOLAROZ EL PETRROJO DCUSA ood 1ST DE SOLAFOZ ASX:LEL 17#18EL LITHIUM ENERGY LTD APPENDIX#19SOLAROZ LITHIUM BRINE PROJECT Table 1: Upgraded Total JORC Indicated and Inferred Mineral Resource Estimate Mineral Resource Lithology Units Sediment Volume (million m³) Specific Yield % Brine volume million m³ LCE Lithium mg/l Lithium Tonnes Tonnes Category A (Upper Aquifer) 7,200 10.0% 720 245 176,600 940,000 Indicated B (Halite Salt Unit) 1,731 4.0% 69 340 23,600 125,000 Mineral C (Lower Aquifer) 4,671 6.5% 304 363 110,000 590,000 Resource D (Tertiary Basement) 5,651 5.8% 328 406 133,000 705,000 TOTAL 19,253 7.4% 1421 312 443,200 2,360,000 A 3,589 10.0% 359 245 88,000 470,000 Inferred B 3,060 4.0% 122 340 42,000 220,000 Mineral C 1,058 6.5% 69 362 25,000 130,000 Resource D 634 5.8% 37 405 15,000 80,000 TOTAL 8,340 7.0% 587 289 170,000 900,000 TOTAL INDICATED & INFERRED MINERAL RESOURCE 7.3% 305 3,260,000 Notes: (b) (c) The Indicated Mineral Resource Estimate encompasses the Chico I, Chico V, Chico VI, Payo 2 South and Silvia Irene (Central Block) concessions The Inferred Mineral Resource Estimate encompasses the Mario Angel, Payo 2 South and Silvia Irene, Payo 1 and Payo 2 North concessions, and is in addition to the Indicated Mineral Resource Estimate Lithium (Li) is converted to lithium carbonate (Li₂CO3) equivalent (LCE) using a conversion factor of 5.323 (d) Totals may differ due to rounding Reported at a zero Lithium mg/l cut-off grade Total Specific Yields are weighted averages Source: LEL ASX Announcement dated 26 October 2023: Significant Solaroz Milestone Achieved with Upgrade to 2.4Mt LCE JORC Indicated Resource EL LITHIUM ENERGY LTD ASX:LEL 19#20SOLAROZ LITHIUM BRINE PROJECT Table 2: Upgraded High-Grade Core within Total JORC Indicated and Inferred Mineral Resource Mineral Resource Category Lithology Units Sediment Volume Specific Yield % Brine volume LCE Lithium mg/l Lithium Tonnes million m3 Tonnes (million m³) A 878 10.0% 88 349 30,000 165,000 Indicated B 1,289 4.0% 52 357 18,000 100,000 Mineral C 3,288 5.6% 183 401 75,000 390,000 Resource D 4,881 4.8% 235 425 100,000 530,000 TOTAL 10,337 5.2% 557 400 223,000 1,185,000 B 92 4.0% 4 418 1,500 8,000 Inferred Mineral C D 436 5.7% 25 401 10,000 53,000 109 4.9% 5 405 2,000 12,000 Resource TOTAL 637 5.3% 34 403 13,500 73,000 TOTAL INDICATED & INFERRED MINERAL RESOURCE (HIGH-GRADE CORE) 5.2% 400 1,258,000 The high-grade core comprises JORC Indicated and Inferred Mineral Resources estimated within the mineralisation envelope of (not in addition to) the Mineral Resource Estimates outlined in Table 1. The Indicated Mineral Resource encompasses the Chico I, Chico V, Chico VI, Payo 2 South and Silvia Irene (Central Block) concessions The inferred Mineral Resource encompasses the southern Mario Angel (Units B and C) and Payo 1 and Payo 2 North (Northern Block) (Unit D) concessions, and is in addition to the Indicated Mineral Resource Estimate Reported at a 320 mg/l Lithium cut-off grade Refer Notes (c), (d) and (f) of Table 1 Notes: (a) (b) (c) (d) (e) EL LITHIUM ENERGY LTD ASX:LEL 20 20#21SOLAROZ LITHIUM BRINE PROJECT Located in the prolific 'Lithium Triangle' in Argentina LITHIUM TRIANGLE BOLIVIA PACIFIC OCEAN SOUTH AMERICA Atacama SQM, Albermarie Solaroz ELLITHIUM ENERGY LTD World's largest reserves of lithium are found in the Lithium Triangle. Argentina is the world's 3rd largest producer of lithium after Australia and Chile. •Lithium brine projects from Argentina are among the lowest on the LCE cost curve. • LEL holds prime position in an established large lithium brine basin. Antofagasta Cauchari Allkem, Ganfeng Lithium Americas Rincon Rio Tinto, Argosy CHILE Salinas Grandes Lithium LSC EL LITHIUM ENERGY LTD Copiapo Olaroz Allkem, Toyota ARGENTINA Hombre Muerto Livent, Galaxy, Galan, POSCO ASX:LEL 21 21#22. SOLAROZ HAS EXCELLENT NEIGHBOURS AND LOCATION Brine production potential confirmed by existing production from Alkem's Olaroz Lithium Facility as a low cost, high margin producer of Lithium Carbonate from the Olaroz Salar. Lithium Argentina's first production from Olaroz- Cauchari Project ramping up in H2 2023 with full (40ktpa) production in Q1 2024. • Highly favourable climatic conditions to support brine . evaporation - low rainfall, high evaporation. Excellent supporting infrastructure including good roads, with natural gas pipeline running through the Salar. • Multiple potential sources of industrial water identified within Solaroz concessions. Alkema's production facility EL LITHIUM ENERGY LTD For further details on Allkem production, refer to company website: https://www.allkem.co/projects/olaroz For further details on LAAC production, refer to company website: https://www.lithium-argentina.com/ ASX:LEL 22#23SALAR DE OLAROZ BASIN (OLAROZ SALAR) Home of Significant Lithium Production Allkem 66.5% JV partnership with Toyota Tsusho & JEMSE Argentina Lithium Argentina 44.8% JV partnership with Ganfeng Lithium & JEMSE Argentina LEL 90% JV partnership with Hanaq Argentina S.A. Production LCE Production increasing from 13ktpa to 42.5ktpa (AKE website) DFS: In Construction LCE Production capacity ~40ktpa (2022 Annual Report, 31 March 2023; LAC website) Scoping Study Production Target up to 40ktpa (LEL ASX, 31 October 2023) EL LITHIUM ENERGY LTD -23°30'S Argentina Buenos Aires Payo 2 North Payo 2 South Payo 1 Silvia Irene Chico V SOZDD007 Rosario Fan Delta O SOZDD002 Chico VI Chico I о SOZDD008 SOZDD003 I SOZDD006 SOZDD004 SOZDD005 Solaroz Lithium Project Mario Angel Maria Victoria Concession SOZDD001 Allkem's Olaroz Bore Field Alikem's Olaroz Solar Ponds Payo Archibarca Talus Fan - Salar de Canchari 0 ELITHIUM ENERGY LTD Solaroz Lithium Project, Argentina Solaroz Concessions Location Plan 66°30'W Salar de Olaroz Basin ■Susques Solaroz Concessions Lithium Argentina (TSX: LAAC) Allkem (ASX/TSX: AKE) Solaroz Drill Holes Major road Gravel road Gas pipeline 10Km www.lithiumenergy.com.au 23#24JORC CODE COMPETENT PERSONS' STATEMENTS (1) (2) The information in this document that relates to Mineral Resources estimates (dated October 2023) in relation to the Solaroz Lithium Brine Project is extracted from the following ASX market announcement made by Lithium Energy Limited dated: 26 October 2023 entitled "Significant Solaroz Milestone Achieved with Upgrade to 2.4Mt LCE JORC Indicated Resource" The information in the original announcement is based on information compiled by Mr Murray Brooker (MAIG, MIAH), a Competent Person who is a Member of the Australian Institute of Geoscientists (AIG). Mr. Brooker is an employee of Hydrominex Geoscience Pty Ltd, an independent consultant to Lithium Energy Limited. Mr Brooker has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' (the JORC Code). The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement (referred to above). 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 announcement (referred to above). The information in this document that relates to other Exploration Results in relation to the Solaroz Lithium Brine Project is extracted from the following ASX market announcements made by Lithium Energy Limited dated: • 31 October 2023 entitled "Scoping Study Highlights Solaroz Potential as a Large Scale, Long Life, High Margin Development-Ready Lithium Project " • 26 October 2023 entitled "Significant Solaroz Milestone Achieved with Upgrade to 2.4Mt LCE JORC Indicated Resource" 31 July 2023 entitled "Quarterly Activities and Cash Flow Reports - 30 June 2023" The information in the original announcements is based on information compiled by Mr Peter Smith (BSc (Geophysics) (Sydney) AIG ASEG), a Competent Person who is a Member of AIG. Mr Smith is an Executive Director of Lithium Energy Limited. Mr Smith has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the JORC Code. 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 (referred to above). 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 (referred to above). DISCLAIMER The design and engineering components of the Scoping Study has been prepared by professional services firm Hatch for exclusive use by the Company, is not intended for public disclosure, must not be used or relied upon by third parties, covers only selected aspects of the Project, is based on various information provided by or on behalf of the Company, and is subject to various assumptions, conditions and disclaimers. Hatch does not endorse or otherwise provide any guarantee, warranty or other statement on the feasibility or any particular outcome of the Project. EL LITHIUM ENERGY LTD ASX:LEL 24 24#25ABOUT THIS DOCUMENT This document has been prepared by Lithium Energy Limited (the "Company" or "LEL"). No representation, expressed or implied, or warranty as to the accuracy or completeness of the information contained herein is made by any party and nothing contained herein shall be relied upon as a promise or representation as to the future. In all cases, recipients should conduct their own investigation and analysis of LEL. This presentation, including the information contained in this disclaimer is not a prospectus, disclosure document, product disclosure statement or other offering document under Australian law or under any other law. It is for information purposes only and does not constitute an offer, invitation or recommendation to subscribe for or purchase any security and neither the presentation, disclaimer nor anything contained in them forms the basis of any contract or commitment. This presentation does not take into account your individual investment objectives, financial situation or particular needs. You must not act on the basis of any matter contained in this presentation, but must make your own assessment of the Company. All statements in this presentation, other than statements of historical facts, which address the future activities and events or developments that the Company expects to occur, are forward looking statements. Although the Company believes the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. To the maximum extent permitted by law, none of LEL or its related corporations, directors, employees or agents, nor any other person, accepts any liability, including, without limitation, any liability arising from fault or negligence, for any loss arising from the use of this presentation or its contents or otherwise arising in connection with it. Recipients should make their own enquiries in relation to any investment decisions. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein is current as at the date of this presentation and the Company disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results otherwise. There can be no assurance that forward-looking information or statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information or statements. Accordingly, readers should not place undue reliance on forward-looking statements. FORWARD LOOKING STATEMENTS This document contains "forward-looking statements" and "forward-looking information", including statements and forecasts which include without limitation, expectations regarding future performance, costs, production levels or rates, mineral reserves and resources, the financial position of the Company, industry growth and other trend projections. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "is expecting", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes", or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might", or "will" be taken, occur or be achieved. Such information is based on assumptions and judgements of management regarding future events and results. The purpose of forward-looking information is to provide the audience with information about management's expectations and plans. Readers are cautioned that forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company and/or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, changes in market conditions, future prices of minerals/commodities, the actual results of current production, development and/or exploration activities, changes in project parameters as plans continue to be refined, variations in grade or recovery rates, plant and/or equipment failure and the possibility of cost overruns. Forward-looking information and statements are based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date such statements are made, but which may prove to be incorrect. The Company believes that the assumptions and expectations reflected in such forward-looking statements and information are reasonable. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. The Company does not undertake to update any forward-looking information or statements, except in accordance with applicable securities laws. EL LITHIUM ENERGY LTD ASX:LEL 25 25#26EL LITHIUM ENERGY LTD Australia William Johnson Executive Chairman Lithium Energy Limited Tel: +61 8 9214 9737 Mob: +61 419 047 460 [email protected] ■XWO LITHIUM ENERGY LTD 回 ASX:LEL lithiumenergy.com.au