#1Investor Presentation XKE RESOURCES Перед March 2024#2Disclaimer LAKE RESOURCES General Statement and Cautionary Statement This presentation has been prepared by Lake Resources N.L. (Lake) for information purposes and not any particular party. This document is not a prospectus or disclosure document relating to Lake, and it does not constitute an offer or invitation to purchase or subscribe for any securities of Lake and should not be relied on or in connection with a decision to purchase or subscribe for any such securities. This document and any accompanying presentation are confidential, and none of Lake nor any of its related bodies corporate, their respective directors, partners, employees or advisers or any other person (Relevant Parties) makes any representations or warranty (express or implied) to the recipient of this document (Recipient) to, or takes any responsibility for, the origin, validity, accuracy, currency, reliability or completeness of the information, opinions or conclusions contained in or derived from this document, and nothing contained in it is, or may be relied upon as, a promise or representation, whether as to the past or future (including the likelihood of fulfilment of any forward-looking statement or any event or results expressed or implied in any forward looking statement). There is no guarantee that the information is accurate as of the date it is received or that it will continue to be accurate in the future. No warranties or representations can be made as to the origin, validity, accuracy, completeness, currency or reliability of the information. This document is being supplied to you solely for your information, but it is not intended to address the circumstances of any particular individual or entity. This document may not be reproduced or distributed to any other person or published, in whole or in party, for any purpose. The information in this presentation is based upon public information and internally developed data. This information reflects prevailing conditions and views as of this date, and accordingly all such information is subject to change. The information contained in this presentation is of general nature and is not intended to address the circumstances of any particular individual or entity. The information in this document does not purport to be nor is it guaranteed to be complete, and nor does it contain all the information that would be required in a disclosure document or prospectus prepared in accordance with the Corporations Act (Cth). It should be read in conjunction with Lake's other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange, including without limitation, the ASX announcements on 22 November 2023, 19 December 2023 and 6 March 2024. The information regarding projects described in this presentation are based on exploration targets, apart from the Kachi project's resource statement. The potential quantity and grade of an exploration target is conceptual in nature, with insufficient exploration to determine a mineral resource and there is no certainty that further exploration work will result in the determination of mineral resources or that potentially economic quantities of lithium will be discovered. Some leases are located within and around the Orocobre, Orocobre/Advantage Lithium and Ganfeng/Lithium Americas projects and although data is limited within the properties, the leases may cover potential extensions to the Cauchari/Olaroz projects with potential extensions to aquifers, although this provides no assurance that any resource will be identified on the Lake leases. The lithium pegmatite leases occur adjacent to past producers of spodumene but no potential extension to any mineralisation can be assured. This document has been prepared without taking into account the objectives, financial situation or needs of individuals. Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and seek appropriate advice, including financial, legal and taxation advice appropriate to their jurisdiction. Except to the extent prohibited by law, the Relevant Parties disclaim all liability that may otherwise arise due to any of this information being inaccurate or incomplete. By obtaining this document, the Recipient releases the Relevant Parties from liability to the Recipient for any loss, claims, demands, costs, expenses or damage that it may suffer or incur arising directly or indirectly out of or in connection with the information in this document, its accuracy or completeness, or any use of or reliance on any of this information, whether such liability arises in contract, tort (including negligence) or otherwise. Recipients of the document must make their own independent investigations, consideration and evaluation. By accepting this document, the Recipient agrees that if it proceeds further with its investigations, consideration or evaluation of investing in the company it will make and rely solely upon its own investigations and inquiries and will not in any way rely upon this document. No one should act upon the information in this document without appropriate professional advice after a thorough examination of the particular situation. Lake accepts no responsibility or liability to any party in connection with this information or views and Lake disclaims and excludes all liability (to the extent permitted by law) for losses, claims, damages, demands, costs and expenses of whatever nature arising in any way out of or in connection with the information, its accuracy, completeness or by reason of reliance by any person on any of it. General Statement and Cautionary Statement Please see Appendix C for discussion of key risks. These risks are without limitation and are general in nature and are for informational purposes only and not for any particular party, transaction or circumstances. 2#3Disclaimer, continued LAKE RESOURCES Forward Looking Statements Certain statements contained in this presentation, including information as to the future financial performance of the projects, are forward-looking statements. Such forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Lake are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies; involve known and unknown risks and uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results, expressed or implied, reflected in such forward-looking statements; and may include, among other things, statements regarding targets, estimates and assumptions in respect of production and prices, operating costs and results, capital expenditures, reserves and resources and anticipated flow rates, and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions and affected by the risk of further changes in government regulations, policies or legislation and that further funding may be required, but unavailable, for the ongoing development of Lake's projects. Lake disclaims any intent or obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. The words "believe", "expect", "anticipate", "indicate", "contemplate", "target", "plan", "intends", "continue", "budget", "estimate", "may", "will", "schedule" and similar expressions identify forward-looking statements. All forward-looking statements made in this announcement are qualified by the foregoing cautionary statements. Investors are cautioned that forward-looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. Lake does not undertake to update any forward-looking information, except in accordance with applicable securities laws. Compliance Statement The information contained in this presentation relating to financial forecasts, production targets, exploration results, Measured, Indicated and Inferred resource estimates, project execution, infrastructure and testing work, has been derived from the information in Lake's Kachi Project Phase One Definitive Feasibility Study Results and Ore Reserve Statement announced on ASX on 19 December 2023 and mineral resource update announced on ASX on 22 November 2023. Lake confirms that it is not aware of any information that materially affects the information included in Lake's Kachi Project Phase One Definitive Feasibility Study Results and Ore Reserve Statement announced on ASX on 19 December 2023 and mineral resource update announced on ASX on 22 November 2023 and all material assumptions contained in that announcement continue to apply and have not materially changed. On this basis, Lake confirms that the Competent Person's findings in Lake's Kachi Project Phase One Definitive Feasibility Study Results and Ore Reserve Statement announced on ASX on 19 December 2023 nor, in respect of Lake's mineral resource, in mineral resource update announced on ASX on 22 November 2023, have not changed nor been modified in any material respects since those announcements. This document has been prepared for publication in Australia only, and may not be distributed or released in any other jurisdiction, including the United States. This document is not and should not be considered to form any offer or an invitation to acquire Lake shares or any other financial products, and neither this document nor any of its contents will form the basis of any contract or commitment. In particular, this document does not constitute any part of any offer to sell, or the solicitation of an offer to buy, any securities in the United States or in any other jurisdiction in which such offer would be illegal, including to, or for the account or benefit of any "US person" as defined in Regulation S under the US Securities Act of 1993 (Securities Act). Lake shares have not been, and will not be, registered under the Securities Act or the securities laws of any state or other jurisdiction of the United States, and may not be offered or sold, directly or indirectly, in the United States or to any US person without being so registered or pursuant to an exemption from registration (which Lake has no obligation to procure). The release, publication or distribution of this document in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this document is released, published or distributed should inform themselves about and observe such restrictions. See Appendix D for specific International Offer Jurisdiction restrictions. 3#4Key Investment Highlights LAKE RESOURCES 1 Globally Significant 10.6 Mt LCE Resource Designed to Produce 25 ktpa in Phase 1, With Significant Expansion Potential, in an Attractive Mining Jurisdiction 2 Proven, Scalable Production of Battery Grade Lithium Carbonate with a World Class Partner, Using lon-Exchange Direct Lithium Extraction (DLE) Technology LAKE 3 RESOURCES Consistent Technical Results Proven Out in Pilot & Demo Plant and December 2023 Definitive Feasibility Study 4 The Export Credit Agencies of the United Kingdom (UKEF) and Canada (EDC) Have Provided Expressions of Interest in Support of the Kachi Project. Continued Support from Joint Coordinators - Citibank and J.P. Morgan 5 Management and Operations Team With Proven Track Record Executing Large-Scale Projects 1 From Wood Mackenzie Q4-2023 Global Electric Vehicle and Battery Supply Chain Energy Transition Outlook 4#5Equity Raising Overview T W LAKE RESOURCES#66 Equity Raising Overview LAKE RESOURCES Offer Structure and Size Offer Price Use of Proceeds Share Purchase Plan Ranking Lake is conducting the Offer to raise up to approximately $20 million (before costs), comprising: A placement to raise $15 million via the issue of approximately 213.6 million fully paid ordinary shares ("New Shares”) pursuant to the Company's existing placement capacity under ASX Listing Rule 7.1; and A Share Purchase Plan to raise up to approximately $5 million ("SPP") (together the Placement and SPP are the "Offer") Up to approximately 213.6 million New Shares to be issued under the Placement representing ~15% of existing ordinary shares on issue Offer price of $0.07 per share, represents a discount of: 39.1% to Lake's last closing price of $0.115 per share on Friday, 8 March 2024 42.3% to the 5-day VWAP of $0.121 per share up to and including Friday, 8 March 2024 ■Support Lake's liquidity and balance sheet strength as it pursues strategic financing alternatives for the Kachi project Eligible Lake shareholders as at the record date of 7:00pm AEST on Thursday, 7 March 2024 with a registered address in Australia or New Zealand will have the opportunity to apply for Lake shares pursuant to a SPP ■Offer price of $0.07 per share, the same offer price as the Placement Up to $30,000 per Eligible Shareholder, targeting approximately $5 million ■Lake may decide to accept applications (in whole or in part) that result in the SPP raising more or less than $5 million in its absolute discretion Lake intends to apply for a waiver under ASX Listing Rule 7.1 from the requirement that the issue price of shares under the SPP be no lower than 80% of the 5 day VWAP. If the ASX does not grant this waiver, the SPP may require shareholder approval at an EGM and the indicative timeline on slide 8 will be affected New Shares issued under the Offer will rank equally with existing shares on issue Syndicate Barrenjoey Markets Pty Limited and Canaccord Genuity (Australia) Limited are acting as Joint Lead Managers ("JLMS") to the Placement Morgans Corporate Limited is acting as Co-Manager to the Placement#7Sources and Uses LAKE RESOURCES Equity raise proceeds will provide flexibility and liquidity to explore strategic partnerships at the Kachi project, with preliminary discussions with potential partners currently ongoing. ■Strategic partnering discussions are ongoing and targeting completion by end of 2024 Equity Raising is in conjunction with reduced spending following DFS completion, with costs reduced by ~40%¹ Targeting additional 30% reduction in q-o-q expenditures by 30 June 2024 compared to 31 March 2024¹ Proceeds, reduced spend as well as other potential financial levers² available to Lake provide sufficient time to test market appetite and secure partner for the project Sources Placement proceeds Total sources Sources & Uses of Funds A$m 15.0 15.0 Pro Forma Balance Sheet As at 31 December 2023 Institutional Placement Pro Forma Uses A$m Shares (m) Cash (A$m) Corporate costs and working capital 13.6 1,424.1 31.3 Offer costs 1.43 213.6 15.0 1,637.7 46.3 Total uses 15.0 7 1. Refer to ASX announcement dated 4 March 2024. 2. Lake considering all other financing alternatives, including potential asset sale of early stage projects, consistent with its capital management policies, as required to fund costs whilst strategic discussions remain ongoing. 3. Excludes GST#8Indicative Equity Raising Timetable¹ LAKE RESOURCES Event Record date for eligibility to participate in SPP Trading halt Trading halt lifted and announcement of completion of Placement Settlement of New Shares under the Placement SPP Offer open date Allotment, quotation and trading of New Shares under the Placement SPP closing date* Announcement of SPP Participation Results Allotment of New Shares under the SPP Normal trading of SPP shares and dispatch of holding statements Date (2024) Thursday, 7 March 2024 Friday, 8 March 2024 Tuesday, 12 March 2024 Monday, 18 March 2024 Monday, 18 March 2024 Tuesday, 19 March 2024 Thursday, 4 April 2024 Tuesday, 9 April 2024 Wednesday, 10 April 2024 Thursday, 11 April 2024 *The Company intends to apply for a waiver under ASX Listing Rule 7.1 from the requirement that the issue price of shares under the SPP be no lower than 80% of the 5 day VWAP. If the ASX does not grant this waiver, the SPP may require shareholder approval at an EGM and the above timeline will be affected 1. Indicative only and dates are subject to change by the JLMs and / or the Company. 8#9Lake Resources Overview T W LAKE RESOURCES#10Lake Overview LAKE RESOURCES 1 One of Largest Lithium Development Projects Across the Lithium Triangle Advanced and Proven Process to Produce 2 Battery Grade Lithium Carbonate Lake's flagship project - Kachi - is a globally significant, large-scale 10.6 Mt LCE¹ resource supporting 25 ktpa of battery-grade lithium carbonate production Advanced engineering and technical work described in December 2023 DFS11 10.6 Inferred 3.3 Ore Reserves 6.7 Measured & Indicated 0.6 Resource in Million Tonnes LCE ■ Extensive piloting and demo plant delivered consistent results, validated by multiple independent parties Demo plant processed 5.2M liters of brine into 200K 12 liters of concentrate and produced ~1,300 kg of battery grade lithium carbonate (>99.5% purity) in one of the largest known DLE-to-BG carbonate test program Achieved 99.9% impurity rejection, 80% lithium recovery, 93% plant uptime while using 10x less freshwater, 7x less land and generating 55x less waste than evaporation ponds 3 Significant Technical Work Completed To Prove Project Validity and Complete DFS 2017-2021 Environmental Impact Declaration (EID) Initial drilling program Initiated Completion of Preliminary Environmental Assessment Update to EIA Resource drilling and completion of Pre-Feasibility Study (PFS) Results Exploration Extension & Updated Exploration EID ■2022 2023 Pilot Plant Authorization Successful pumping and injection testing9; further drilling to 600m 10, completion of Saltworks Testing Program; proof of technology, progress of process plant design² Hydrogeology Model calibration completed JORC Compliant Mineral Resource Reports 2,3,4,5,6 Power solution, completion of technical feasibility, qualifying FEED contractors and tendering progressed Demonstration plant campaign successfully completed - produced >1,300kg of battery grade lithium carbonate Definitive Feasibility Study (DFS) Report Completed (with AACE7 Class 3 estimate (+/-15%)) 1 Refer to ASX announcement dated 22 November 2023. 2 Refer to ASX announcement dated 26 September 2023. 3 Refer to ASX announcement dated 15 June 2023.4 Refer to ASX announcement dated 16 August 2023. 5 Refer to ASX announcement dated 4 October 2023.6 Refer to ASX announcement dated 12 February 2024. 7Association for the Advancement of Cost Engineering. 8 See ASX announcement dated 19 December 2023.9 Refer to ASX announcement dated 15 August 2023. 10 Refer to ASX announcement dated 22 August 2023. 11 See the Company's JORC technical report dated effective December 19, 2023, "Kachi Lithium Brine Definitive Feasibility Study" for full details regarding material assumptions relied upon. Lake confirms the material assumptions in that announcement continue to apply and have not materially changed. 12 200K+ litres of concentrate processed but only 120K was used to produce battery grade lithium carbonate. The excess remain in storage. 10#11Management and Operations Team With Proven Track Record in Executing Large Scale Projects LAKE RESOURCES David Dickson Managing Director/CEO David Dickson is an industry leader with over 30 years' experience in process technology, engineering, construction and EPC cost management, across the energy sector. Operational Leadership Scott Munro SVP, Technology, Strategy and Risk Scott Munro, has led multibillion- dollar corporations in strategic partnerships, strategic planning, and technology development. He has overseen the successful delivery of large-scale industrial projects. Functional Leadership Sean Miller SVP, Field Development and Evaluation Sean Miller, is an experienced commercial mining executive. His experience includes project execution, supply chains, procurement, and project optimization for multibillion- dollar projects in international markets. Jonathan Nielsen Process Technology 30+ years of experience FLSMIDTH E3 LITHIUM Engitec Technologies Michael Nawrocki Process Technology 15+ years of experience MCDERMOTT BECHTEL Exceptional Operations Team Jonah Smith Drilling and Hydrogeology 25+ years of experience JARIZONA LITHIUM Alvaro Zumelzu Engineering 20+ years of experience Chevron BR VALERUS PETROBRAS CHENIERE Michael Gabora Drilling and Hydrogeology 25+ years of experience FLOW COLORADO SCHOOL OF MINES DHI Ausenco Manuel Barreiro Process Plant 30+ years of experience BayoTech TechnipFMC MCDERMOTT Don Miller Chief Financial Officer Amalia Saenz SVP, Argentina Corporate Affairs John Freeman Karen Greene Chief Legal Officer and General Counsel SVP, Investor Relations and Communications Executive experience acquired across technical, financial and project execution TRITIUM Boyne Smelters Mark Anning Head of Legal, Australia and Company Secretary SHAW GLENCORE Bristow KAMOTO TechnipFMC NETPOWER BAKER HUGHES Gentry Brann Chief People and Administration Officer MCDERMOTT COPPER COMPANY S.A. CBI Hamilton Lane Justin McCreavey Project Controls 25+ years of experience ne noble energy TotalEnergies subsea 7 SNC LAVALIN Ife Orimoloye Strategy and Markets 16+ years of experience pwc cíti MCDERMOTT Justin Olson Legal and Compliance 17+ years of experience AkerSolutions™ TechnipFMC MCDERMOTT 11#12Capital Management to Extend Runway¹ LAKE RESOURCES ■Lake held cash of A$31.3 million (US$21.3 million) as of 31 December 2023 with no debt ■On-track to achieve 40%² reduction in quarter over quarter (q-o-q) expenditures from 31 December 20233 to 31 March 2024 ■Targeting additional 30%² reduction in q-o-q expenditures by 30 June 2024 compared to 31 March 2024 through: ■Reducing global headcount by ~50% across its non-core operational and administrative workforce Additional streamlining of other general and administrative expenditures ■ No impact on planned timing of EIA submission or strategic partner selection process ■Will continue rigorous approach to cost structure optimization and will explore further ways to reduce expenses Continue to evaluate the monetisation of other non-core assets and lithium tenements unrelated to the Kachi project In addition to above cost saving measures, Lake is seeking additional equity investment to extend runway until the completion of the strategic partnering process 1 Refer to ASX announcement dated 4 March 2024 2 Exclusive of potential foreign exchange impacts 3 refer to ASX announcement dated 31 January 2024 12#13Strategic Delivery of Kachi Available Project Financing Solutions Funding Targeted Mix Target Options for Kachi Phase 1 Financing Equity at Lake Parent Level 1 Equity Equity at Project Level via Strategic Partnership 2 Debt Export Credit Agencies Guarantees and Direct Lending Debt Funding Development Banks LAKE RESOURCES Current Pursuits Equity offering to fund corporate expenses and working capital before completion of strategic partnering process Pursuing Strategic Partnership For Kachi Goldman Sachs engaged as financial advisor to lead strategic partner process Expected to provide additional capital to fund activities prior to Final Investment Decision (FID) and ultimately project development The Export Credit Agencies of the United Kingdom 3 (UKEF) and Canada (EDC) have provided expressions of interest in support of debt financing for the Kachi Project Continued support from Citibank and J.P. Morgan, joint coordinators for the proposed debt financing 13#14Robust Strategic Partner Process Underway Contemplated Process for Strategic Partner Process¹ Official Launch January 2024 - UNDERWAY Teaser + NDA Phase 1 | Initial Outreach/ Desktop Due Diligence Phase 1 Information Package VDR Access + Expert Sessions Management fireside chats Potential Indicative Offers / Partner Shortlisting Indicative offers expected Partners Confirmatory due diligence Phase 2 Confirmatory Due Diligence/Binding Offers Site visits, Management Presentations, Q&A Targeting Signing 1. Timing is indicative only and subject to change Binding offers expected Q3 Q4 CY24 Q3 - Q4 CY24 LAKE RESOURCES Car & Battery Manufacturers End-users/offtakers with ability to provide debt and equity funding at project + Top-Co level Lithium Producers Operational/exploration expertise Oil & Gas Companies Expertise in subsurface operations/technology Sovereign Wealth Funds Long-duration investors seeking exposure to green energy thematic Private Equity Flexible/Ability to commit large funding 14#15Illustrative Timeline to First Lithium¹ Year -1 Year O Year 1 Year 2 LAKE RESOURCES Year 3 Months 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 Corporate Operations Pre-FID Equity Raise¹ Strategic partner process (JV)² ECA debt raise process² EIA Approvals² EPCM & Power FEED(s)² FID • Strategic Partnering (JV) Process: Completion anticipated Q3 - Q4 2024 ● Post-FID First Production Construction & Commissioning² EPCM and Power FEED: Completion anticipated 9 – 12 months after Strategic Partnering Process Final Investment Decision (FID): 9 - 12 months after completion of Strategic Partnering process First Lithium: 30 months after FID 1 Refer to ASX announcement dated March 4, 2024. 2 Timing is indicative only and subject to change. This timeline has been prepared solely on the basis of information that has been released to the market and no other information. 15#16Appendix A - Kachi Project Overview T LAKE RESOURCES#17Lithium Market Balance LAKE RESOURCES The lithium market is expected to be in deficit from 2029 onwards, based on current project pipeline ■ With lengthy lead times to develop new projects, battery raw material supply will quickly fall short of accelerating demand in the pledges and net zero scenarios ■ Deficits could emerge in the near term and extend to ~1 Mt LCE by 2040. Kachi's anticipated ~25 ktpa of Phase 1 battery grade carbonate production is likely to have sufficient demand headroom in the long-term Net Balance (All Projects, Kt LCE) Battery Grade Lithium Chemical Balance (All Projects, Kt LCE) 4,500 200 100 4,000 0 3,500 (100) 3,000 797 (200) 2,500 (300) 2,000 (400) 1,500 (500) 1,000 (600) 500 (700) 0 (800) 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 Kachi 0 0 0 0 0 0 0 2 15 25 P1 25 25 25 25 25 25 25 25 25 (900) 25 25 25 25 25 25 (1,000) Total Supply (Base Case) Source: Wood Mackenzie Kachi (Ph. 1) ROW Projects Recycling ⚫Demand Note: Only Wood Mackenzie assumptions for Kachi Phase One volumes are referenced. Refer to Lake's Kachi Project Phase One Definitive Feasibility Study Results announced on ASX on 19 December 2023 יוון 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 17#18Argentina Overview The security of future lithium supply is virtually impossible without Argentina Forecast Lithium Mine Supply (tonnes LCE) 1 % of Global Supply 52,778 +23% +550% 422,903 343,253 Argentina 5% 12% 14% 1 Fastmarkets Lithium Long Term Forecast Q4 2023. 225,000 +54% 345,418 0% 345,418 Chile 23% 12% 11% 2023 2030 2033 LAKE RESOURCES Argentina's lithium supply expected to overtake Chile's by 2031 mostly due to favorable mining regime in Argentina over Chile Chile's output expected to stagnate after 2030 Kachi is one of the projects expected to come online within this time-frame 18#19Argentina Overview LAKE RESOURCES Argentina is home to many mining companies and has cultivated a favorable environment for the industry Project Name: Chauchari, Olaroz, Jama Company Name: Lake Resources Status: Nascent Project Name: Cauchari Company Name: Arcadium Status: PFS-2019 Project Name: Linero Gold/Silver Mine Company Name: Fortuna Silver Mines Status: Operating - 2018 Project Name: Sal de Vida Company Name: Arcadium Status: Construction - 2024 Project Name: Hombre Murto P1 & P2 Company Name: Galan Lithium Status: Under construction (P1)/DFS Progressing (P2) - Production set for 2025 Project Name: Precious Metals Company Name: MINERA DEL ALTIPLANO S.A. Status: Operating Project Name: Kachi Company Name: Lake Resources Status: DFS-2023 Chile Lithium Triangle Bolivia Argentina Lake Resources Mines Other Lithium Mines Precious Metals Mines Project Name: Puna Company Name: SSR Mining Pirquitas Status: Operating - 2018 Project Name: Rincon Company Name: Rio Tinto Status: Possible - PEA 2018 Project Name: Cauchari - Olaroz Company Name: Lithium Argentina Status: Construction - 2019 Project Name: Pastos Grandes Company Name: Lithium Argentina Status: EIA-2020 Project Name: Sal de Vida Company Name: Arcadium Status: Construction - 2021 Project Name: Hombre Muerto Company Name: Arcadium Status: Operating 19#20Kachi Project Timeline Environmental Impact Declaration LAKE RESOURCES Preliminary Environmental Assessment Completed (PEA) Resource drilling and completion of Pre-Feasibility Study (PFS) Results Recruited Experienced Management and Technical Team¹ Pilot Plant Authorization Successful Pumping and Injection Testing³ Successful Completion of Demo Plant Produced 1,300kg of Battery Grade Lithium Carbonate Completed Saltworks Testing, Proof of Technology, Progress of Plant Design5 Definitive Feasibility Study (DFS) Completed FID Targeting 20257 2017 2018 2019 2020 2021 2022 T 2023 Internal Drilling Program Initiated Update to EIA New CEO De-risked project delivery through Project Reset² JORC Compliant Mineral Resource Reports Completed³ Exploration Extension & Updated Exploration EID 1. Refer to ASX announcement dated 12 January 2023 2. Refer to ASX announcement dated 19 June 2023 3. Refer to ASX announcement dated 15 June 2023, Refer to ASX announcement dated 16 August 2023, Refer to ASX announcement dated 26 September 2023, Refer to ASX announcement dated 4 October 2023, Refer to ASX announcement dated 12 February 2024 4567 4. Refer to ASX announcement dated 22 August 2023 5. Refer to ASX announcement dated 26 September 2023 6. Refer to ASX announcement dated 19 December 2023 7. Timing is indicative only and subject to change. This timeline has been prepared solely on the basis of information that has been released to the market and no other information. Further Drilling to 600m4 Hydrogeology Model Calibration Completed 6 Defined Power Solution - 2024+ First Lithium Production Targeting 30 Full Operations on 25Ktpa Plant Targeting 12 Months After First Lithium Completed Technical Feasibility, Tendering Progressed Months After FID7 20 20#21Management Team Brought New Approach to Kachi LAKE RESOURCES Recognizing the clear parallels between lithium extraction via DLE and oil & gas projects helped to shape a prudent re-evaluation and refresh of our approach to developing Kachi New CEO Recruited management, technical and operations team with significant expertise across oil and gas, lithium and other extractive industries to address "Project Reset"¹ - Brine to battery grade Li₂CO3 from Demo plant De-risked project delivery plan 50 ktpa target capacity achieved in two phases of 25 ktpa each³ - Each phase made of two trains 12.5 ktpa Sept 2022 Oct 2022 - Feb 2023 Feb 2023 - May 2023 ktpakilo tonnes per annum DFS = Definitive Feasibility Study 1. 2. 3. Refer to ASX announcement dated 12 January 2023 Refer to ASX announcement dated 19 June 2023 50 ktpa target capacity made up of Phase 1 (25 ktpa) + Phase 2 (25 ktpa) Leveraging international EPC experience to drive efficiencies in project development and production June 20232 21#22Colossal Resource with Embedded Upside 2640000 K20 K23 K22 2650000 26600 Kachi M&I resource estimate increased 250% since June 2023 10.6 8.1 3.3 5.3 K02 5.2 4.4 7.3 3.1 3.4 K01 K03 K11 K18 K14 K12 K15 K08 K04 K19 K16 2.9 2.2 1 LAKE RESOURCES Resource expansion from June 2023 update1: ■Measured resource has increased from 2.2 to 3.0 million tonnes LCE Indicated resource has increased from 0.72 to 4.3 million tonnes LCE Inferred resource has decreased from 5.2 to 3.3 million tonnes LCE Exploration Target1: ■■■High: 14.8 million tonnes LCE; Low: 3.7 million tonnes LCE K24 K05 K21 Legend Resource Holes Resource Zones Indicated Resource 0-400m Location Lake Property Inferred Resource 0-400m Measured Resource 0-400m K06 2018 Jan-23 Jun-23 Nov-23 Inferred Notes Projected Coorindate System POSGAR $4/Argentina 2 Measured & Indicated Resources in Million Tonnes LCE 1 Numbers are based on information in Lake's JORC update announced on 22 November 2023. Refer to the Appendix for details of individual categories of the mineral resource. All material assumptions contained in that announcement continue to apply and have not materially changed Note: The potential quantity and grade of an exploration target is conceptual in nature, there has been insufficient exploration to determine a mineral resource and there is no certainty that further exploration work will result in the determination of mineral resources or that the exploration target itself will be realized 22#23Ore Reserves 0 1300 2600 Meters K17R30 K10R19 INJ-20 INJ-21 INJ-1 INJ-2 INJ-3 INJ-4 INJ-5 K09R18 INJ-6 PW-9 INJ-11 PW-10 INJ-7PW-11 INJ-12 PW-12 INJ-8 PW-13 INJ-13 PW-14 INJ-9 PW-1 PW-15 INJ-14 PW-2 INJ-10 PW-3 PW-16 INJ-15 PW-4 PW-5 INJ-16 INJ-19 PW-6 PW-7 INJ-17 PW-8 Refer to ASX announcement on 19 December 20023 - "Maiden Ore Reserve defined for flagship Kachi Project" LAKE RESOURCES Average Lithium Reserve Category Years Lithium (Tonnes) LCE (Tonnes) Concentration (mg/L) Proved 1 3,600 18,900 259 Proved 2-7 28,500 151,400 257 Probable 8-25 85,400 454,100 245 Total 1-25 117,400 624,400 An 'Ore Reserve' is the economically mineable part of a Measured and/or Indicated Mineral Resource Globally Significant Resource: Potential LCE production rates, inclusive of processing efficiency losses of 25%, results in a total of 806,300 tonnes LCE. However, theses are limited by plant capacity, resulting in numbers presented above - 624,400 tonnes LCE which represent Phase 1 production over life of mine Year 1: 18,921 tonnes LCE Years 2-25: 25,228 tonnes LCE High level of confidence: More than 85% of production is derived from Measured Resource, remainder from Indicated Wellfield layout (16 Production Wells and 21 Injection Wells) designed to: Maximize lithium grade recovered; Maximize Proved Ore Reserve; and Minimize environmental impact Modelling supports reinjection strategy; maintaining reservoir pressures and minimizing potential environmental impact Reserves to grow in line with additional plant capacity in subsequent phases 23#24Proven, Scalable Production of Battery Grade Lithium Carbonate with a World Class Partner, Using lon-Exchange DLE Technology ~$315M LAKE RESOURCES Recently Closed Series C Funding of $145M¹ from Bill Gates' Breakthrough Energy Ventures and Other Investors 2016 Founded 250+ Employees across 8 offices Capital raised to date MERCURIA LOWERCARBON CAPITAL Breakthrough Energy M T.Rowe Price INVEST WITH CONFIDENCE Lilac Technology's Proven Ion Exchange Performance Successful Deployment of Test Plants: Deployed two field pilot projects and one demonstration plant Exceptional Stability and Durability of Ion Exchange Media (IXM): Successfully extended the cycle life of Lilac's IXM to more than 3,000 cycles, thereby proving the exceptional stability and durability that unlocks IX for commercial lithium production for the first time Significant Testing and Validation: Lilac has completed more than 500,000 hours of testing, extracted lithium from more than 70 brine samples globally, and has scaled the technology out of the lab by successfully completing two field pilots and one demonstration plant, achieving 24/7 operation while validating all performance attributes Scalable: Recently completed mechanical testing of commercial-scale extraction modules Reduced Impact: Lowest freshwater and land usage. Source: Lilac Solutions | 1 Announced by Lilac on 12th February 2024. THE ENGINE PRESIDIO VENTURES A Sumitomo Corporation Company Mitsubishi Corporation Lilac's US-based manufacturing facility in Nevada ready to scale production of IX media 24#25Significant Technical Work Completed to Prove DLE Technology DLE - Lilac Solutions Ion Exchange On-site demo plant operated in campaigns from October 2022 to November 2023 - Over 5.2 million litres of Kachi brine successfully processed Independent witness and validation reviews completed for DFS data Key Results Lithium Recovery Oakland Mini Pilot Kachi Demo Plant Validation Matches DFS design. 80% 80% Best in class performance Lithium Recovery LAKE RESOURCES 100% 80% 60% 40% 20% 0% 0 10 20 30 40 50 60 70 80 Cycle # 90 100 Demonstration Plant Commercial Design (DFS) Product Lithium 2,300 2,280 Concentration (mg/L) Impurity Rejection 99.9% 99.9% Acid Consumption (tHCl/tLCE) 1.5 1.5 Matches DFS design. Best in class performance Matches DFS design. Best in class performance Matches DFS design. Best in class performance wwwww Kachi Demo Plant 25#26Overview of Proposed Project Site Layout LAKE RESOURCES Kachi is a large-scale lithium carbonate project with significant LCE resource and further expansion potential Kachi Project Site Layout Waste Evaporation Feed Pond Chlor-Alkali Plant Storm Water Run-off Pond DLE Building Spent Brine Ponds Brine Feed Ponds wwwww RSA Product Storage Building Camp Power Generators Transformer Station Truck Parking Areas Truck Entrance North Plant Entrance ☐ Process Areas¹ Brine Feed and Spent Brine ponds are located on the north side of the plant, closest as practicable to the brine extraction and injection wells to minimize the gathering system The lithium carbonate processing facilities are located on the south-east side of the plant Administrations buildings and the main electrical substation are located at the east end of the property The process plant will include a Chlor- Alkali plant, effluent treatment, water treatment and other utilities, including a solar power generation facility that is planned to be installed and operated under a Power Purchase Agreement (PPA) 1 Please refer to Section 8 - Process Plant Design in the DFS per Lake ASX announcement dated 18 December 2023. 26#27Review of Process Flow Sheet LAKE RESOURCES Proven flow sheet produces high purity battery grade lithium carbonate¹ within several hours of extraction Various Waste Streams NaOH HCI 4 H₂O WASTE BRINE Kachi Phase 1 Commercial Flow Sheet H₂O 10 CHLOR ALKALI PLANT WASTE TREATMENT WASTE CRYSTALLISATION AND EVAPORATION HC NaOH NaOCI Bleed To Waste HO NaCO Treatment WASTE CRYSTALS HO TO DISPOSAL HCI NaOH Na SO NACIO HO 5 BRINE FEED AND REINJECTION WELLS REINJECTION POND FEED POND PH ADJUSTMENT H₂O 1 SPENT BRINE LITHIUM ION EXCHANGE (LILAC) 2 NaOH HC ULTRAFILTRATION Wash Water (To Waste Treatment) HC H₂O NaOH Na,CO 8 HC NaOH IMPURITY REMOVAL DIVALENT ION EXCHANGE BORON REMOVAL ION EXCHANGE ELUATE EVAPORATION Waste (To Waste Treatment) Waste (To Waste Treatment) LITHIUM CARBONATE PRECIPITATION ELUATE ELUATE REVERSE OSMOSIS Tail gas SODIUM HYPOCHLORITE PRODUCTION HO Nacio Bleed To Waste Treatment H₂O BLEED H₂O Ca(OH) Na CO- IMPURITY REMOVAL PRECIPITATION AND FILTRATION NaOH 9 LITHIUM CARBONATE CENTRIFUGATION THICKENING PRODUCT DRYING 萬萬 PRODUCT MICRONISING AND BAGGING 1 Refer to ASX announcement on 3 April 2023; 19 June 2023; 28 September 2023 and 18 December 2023. HCI MAKEUP SALT SALT CRYSTALS BLEED CRYSTALLISER BLEED DECARBONATION BATTERY-GRADE LITHIUM CARBONATE Commentary Proposed flowsheet illustrating the 10 major process steps¹ Feed is extracted and pumped from brine extraction network to the (1) Feed Pond, which provides surge volume between extraction wells and the main processing plant The brine is pH-adjusted to precipitate iron and then fed to a (2) filtration system to remove suspended solids. The filtered brine is then processed in the (3) direct extraction package, which recovers and concentrates lithium to the eluate stream (4) Effluent and depleted brine from the DLE is sent to reverse osmosis ("RO") treatment and (5) Brine Reinjection Pond respectively. The eluate stream is then concentrated through (6) reverse osmosis and then (7) treated to remove impurities by the staged addition of lime and sodium hydroxide. The purification is followed by evaporation using mechanical vapour recompression ("MVR") technology to increase the lithium concentration for processing into lithium carbonate. Both the reverse osmosis and MVR systems recover water for recycle to minimize process water consumption ☐ Before carbonation residual trace impurities are removed by ion exchange to obtain the purity required for further processing to battery grade lithium carbonate Lithium carbonate is then (8) precipitated from the purified stream by addition of sodium carbonate, the primary reagent input for the carbonation process. The precipitated lithium carbonate is washed through (9) two stages of centrifuging to achieve the final product purity required. This product is dried and packaged for sale To meet the hydrochloric acid and sodium hydroxide demands of the process, an on-site (10) chloralkali plant electrochemically converts sodium chloride from the waste brine into these reagents 27#28Phase One DFS Demo Scope - Battery Grade by Design - Balance of Plant (BOP) - Saltworks Technologies The BOP process consists of industry standard unit operations for the concentration, purification, and lithium carbonate production from the concentrated lithium chloride eluate. The demonstration-scale validation of the BOP flowsheet was conducted by Saltworks Technologies The goals of the demonstration activities were to de-risk the DFS design for the full-sized plant, to validate the system configuration, and to explore potential optimization opportunities for the flowsheet and operating parameters 120,000 litres of Kachi brine was processed at Saltworks' Facility in Canada to produce >1,300 kg of battery grade lithium carbonate All batches achieved battery grade lithium purity target (>99.5%) Up to 99.9% purity achieved Independent validation of results Data produced to support DFS completion >1,300 kg of samples created for offtake testing Summary Results Saltworks for Kachi Demonstration Plant Eluate LAKE RESOURCES Batch 1 2 3 DLE Eluate Processed m³ 32.1 46.0 40.2 Average DLE Lithium Concentration (mg/L) mg/L 3,097 3,468 4,392 Lithium Carbonate Produced kg 350 411 578 Lithium Purity¹ % 99.7% 99.8% 99.9% 1 Purity as calculated based on sum of measured impurities above detection limit. 28#29Battery Grade Lithium Carbonate Consistently Produced LAKE RESOURCES Concentrate Assay Range Typical Concentrate Assay Range ■The Kachi DLE produces a concentrate with 11X the lithium feed concentration 55 Higher lithium concentration minimizes downstream costs to produce Li2CO3 Feed Element Unit Brine Li mg/l 205.3 DLE Lithium Concentrate 2,266 B mg/l 465.6 2 Na mg/l 108,617 3,238 Mg mg/l 3,585 245.9 Sr mg/l 6,378 Cl mg/l 171,410 42.9 17,652 K mg/l 5,976 157.3 Ca mg/l 605.8 1777.2 Mn mg/l 12.2 0 Fe mg/l 14.4 Sr mg/l 24.1 7 Ва mg/l 12 The Li in Kachi concentrate is 40% more concentrated than adsorption DLE Smaller downstream equipment Less energy to process Proven by 10-months Demo Plant operations and 200,000 liters of concentrate produced Lithium Carbonate Produced from Kachi Concentrate 120,000 liters of concentrate was processed to produce 1300 kg of >99.5% Li₂CO3 - the largest known DLE to carbonate test program Source: Data taken from Ausenco Feasibility Study (Dec-2019), Corem 29#30Cleaner Lithium by Design Four key pillars underpin Lake's quality- conscious commitment to sustainability m2 / MT LCE Square Meter Per Metric Tonne of Lithium % Li / MT LCE Percent [Lithium] Per Metric Tonne of Lithium Carbonate Equivalent Carbonate Equivalent 1 Higher Lithium Recovery 15% 60% Higher Higher 3 Hardrock Evaportation Ponds Lower Land Usage 2,5 7x Lower 600x Lower Land Use Hardrock¹ m3 / MT LCE Cubic Meter Per Metric Tonne of Lithium Carbonate Equivalent MT / MT LCE Metric Tonne Waste Per Metric Tonne of Lithium Carbonate Equivalent Evaporation Ponds 2 Lower Water Usage² 10x Lower 5x Lower Fresh Water Usage Brine Water Loss 4 Lower Solid Waste Volume 3,4 50x Lower 55x Lower 1 Hard rock based on mining, processing, and refining 1% spodumene ore (6% concentrate). 2 Includes internal Lake estimates. Updated estimates will be provided in the DFS, if applicable. 3 Hard rock values for concentration and refining of 1% spodumene ore. 4 "Environmental Impact of Direct Lithium Extraction from Brines", February 2023, https://www.nature.com/articles/s43017-022-00387-5.5 Nsenergybusiness.com - Greenbushes Lithium Mine https://www.nsenergybusiness.com/projects/greenbushes-lithium-mine/. 6 Kachi DLE Project values are indicative of values at target plant capacity. Solid Waste Kachi DLE6 30 30 LAKE RESOURCES 45x Lower#31Strong Community and Government Engagement LAKE RESOURCES Looking forward to building relationship with recently elected Federal government Continued strong relationship with Catamarca government Monthly meetings with local government and community to provide status updates of Kachi Project LAK LAKE ☐ Emphasis on training directly related to the future construction phase ☐ ■ Creating Scholarship Program, inclusive of financial aid, for students of tertiary and university level in El Peñón and Antofagasta de la Sierra Educational activities in primary and secondary schools related to Kachi Project Providing assistance to community with access to diesel, water and other necessary items, as well as improving communications and access to information LAKT LAKE SAKE LAK LAKE LAKE 8 23 LAKE 44 13 LAKE 3#32Exceptional Financial Results Targeted project financial results¹ ($USD) Phase One DFS Financial Outputs Phase One - 25 ktpa LCE $827M Annual Lithium Carbonate Revenues Production Target² LAKE RESOURCES Units Period DFS Result Lithium Carbonate Revenue $M Life of Mine 20,700 Lithium Carbonate Revenue $M Annual Average 827 EBITDA² $M Life of Mine 15,870 EBITDA² $M Annual Average 635 $2.3B Post-Tax NPV8 20.9% Post-Tax IRR EBITDA Margin % Run Rate 76% Net Profit After Tax $M Life of Mine 8,959 Average Opex $/t Run Rate 6,047 $635M Annual Average EBITDA³ $3.9B Pre-Tax NPV8 25.4% Pre-Tax IRR Total Capex $M 1,376 NPV8 Post-Tax $M 2,333 NPV8 Pre-Tax $M 3,854 25 years Life of Mine $1.38B Capital Cost $6.05/kg Run Rate Operating Cost IRR Post-Tax do % 20.91 IRR Pre-Tax % 25.35 Total Free Cashflows $M Life of Mine 9,310 Payback Period Years 4.25 1. Economics based on average price of $33,000 per tonne LCE over the LOM, derived from forward price projection provided in a bespoke study commissioned by the Kachi project with Wood Mackenzie and delivered in December 2023. Operating costs include labor, maintenance, materials, supplies, raw materials, outside services, among others. 2. See the Company's JORC technical report dated effective December 19, 2023, "Kachi Lithium Brine Definitive Feasibility Study" for full details regarding material assumptions relied upon. Lake confirms the material assumptions in that announcement continue to apply and have not materially changed. 3. Please see "Non-GAAP Financial Measures" in the appendix. CO 6 32#33Lithium Producers Cash Costs Comparison Kachi is in the middle of the pack compared to lithium producers peer set cash costs $11,602 $6,047 Cash Cost¹ vs. Peers ($ / tonne) Kachi 25k Kachi DLE Brine Conventional Brine Others Source: Benchmark Minerals Q3 Lithium Cost Service - 2030 Estimates 1 Cash Costs include facility wide costs, direct extraction package, reagents, lithium chemical plant, general and administrative expenses, transportation, and power. LAKE RESOURCES $35,654 33#34Non-GAAP Financial Measures LAKE RESOURCES Definitions Note: These financial definitions are alternative performance measures that are not defined or specified under IFRS or AASC standards and for which there are no generally accepted reporting formats EBITDA = Earnings before Interest, Taxes, Depreciation and Amortization IRR Internal Rate of Return NPV8 = Net Present Value calculated using 8% WACC WACC = Weighted Average Cost of Capital This presentation includes certain non-GAAP financial measures or ratios, including the average annual EBITDA regarding the results of the internal preliminary analysis. These measures have no standardized meaning under IFRS and may not be comparable to similar measures used by other issuers. The Company believes these measures and ratios provide investors with an improved ability to evaluate the Company's prospects, and in particular, the Kachi Project. As the Kachi Project is not in production, the prospective non-GAAP financial measures or ratios presented may not be reconciled to the nearest comparable measure under IFRS and the equivalent historical non- GAAP financial measure for the prospective non-GAAP financial measures or ratios discussed herein is nil. 34#35Appendix B - Resources and Reserves LAKE RESOURCES#3636 Resource Statement Measured November 2023 (to 400 m depth) Sediment Unit Volume m3 Specific Yield % Brine volume m3 Liters Li mg/l Li grams Li Tonnes Tonnes LCE A 11,001,000,000 0.078 858,078,000 858,078,000,000 210 179,783,644,000 180,000 956,000 B 4,366,100,000 0.081 352,090000 C 8,007,400,000 0.068 544,503,000 352,090,162,000 229 544,503,200,000 230 80,628,647,000 81,000 429,000 125,427,401,000 125,000 667,000 Fan West 8,833,000,000 0.095 839,135,000 839,135,000,000 220 184,609,700,000 185,000 982,000 Total 32,207,500,000 2,593,806,000 2,593,806,362,000 570,449,393,000 570,000 3,035,000 Indicated November 2023 to 600 m Unit A (South) Sediment Volume m3 3,694,300,000 Specific Yield % 0.076 Brine volume m3 278,924,000 Liters Li mg/l Li grams Li Tonnes Tonnes LCE 278.924,452,000 181 50,485,326.000 50.000 269.000 B (South) 1,489,000,000 0.075 111,543,000 111,543,670,000 179 19,959,624,000 20,000 106,000 C (South) 4,382,400,000 0.067 294,407,000 294,407,879,000 182 53,582,234,000 54,000 285,000 A (North) 3,075,200,000 0.095 292,144.000 292,144,000,000 232 67,891,052,000. 68,000 361,000 B (North) C (North) 4,294,400,000 0.095 407,968,000 407,968,000,000 241 98,166,484,000 98,000 522,000 9,188,400,000 0.092 845,333,000 845,332,800,000 182 206,021,447,000 206,000 1,096,000 400-600m Under Salar 12.230,170,000 0.066 806,922,000 806,922,156,000 242 195,275,162,000 195,000 1,039,000 4,858,200,000 0.092 446,954,000 446,954,400,000 244 109,056,874,000 109,000 580,000 43,212,070,000 800,438,203,000 800,000 4,258,000 Note: This table has been directly extracted from the JORC update announced on 22 November 2023. Lake Resources N.L. confirms that it is not aware of any information that materially affects the information included in Lake's JORC update announced on ASX on 22 November 2023 and all material assumptions contained in that announcement continue to apply and have not materially changed. 400-600m West Fan Deep Total 75,419,570,000 3,484,197,000 3,484,197,358,000 Combined Measured + Indicated 6.078.004.000 6,078,003,721,000 1,370,887,596,000 1,370,000 7,293,000 Inferred November 2023 Sediment Specific Unit Volume m³ Yield % A 4,756,500,000 0.080 Brine volume m3 378,325,000 Liters Li mg/l Li grams Li Tonnes Tonnes LCE 378,325,351,000 185 69,975,435,000 70,000 372,000 B 1,671,300,000 0.079 131,198,000 131,197,886,000 191 25,101,960,000 25,000 134,000 C 5,287,600,000 0.074 393,746,000 393,746,422,000 218 Fan North 8,895,490,000 0.081 716,324,000 86,000 716,324,455,000 232 166,081,974,000 166,000 85,950,119,000 457,000 884,000 Fan South 12,248,490,000 0.064 781,249,000 781,249,112,000 239 186,718,538,000 187,000 993,000 Under volcano 6,718,700,000 0.074 500,471,000 500,471,260,000 192 96,334,211,000 96,000 512,000 Total 39,578,080,000 2,901,314,000 2,901,314,485,000 630,162,237,000 630,000 3,352,000 LAKE RESOURCES#3737 Reserve Statement Reserve Category Years Lithium (Tonnes) LCE (Tonnes) Average Lithium (mg/L) Proved 1 3,600 18,900 258.6 Proved 2-7 28,500 151,400 257.2 Probable 8-25 85,400 454,100 245.0 Total 1-25 117,400 624,400 LAKE RESOURCES Note: This table has been directly extracted from the maiden Ore Reserve statement announced on 19 December 2023. Lake Resources N.L. confirms that it is not aware of any information that materially affects the information included in the maiden Ore Reserve statement announced on ASX on 19 December 2023 and all material assumptions contained in that announcement continue to apply and have not materially changed.#38Appendix C - Key Risks LAKE RESOURCES#3939 39 Key Risks LAKE RESOURCES Risk Factors This section discusses some of the key risks associated with an investment in new shares. Investors should regard the following "Key Risks" when making their investment decision. The existence of risk means that the performance of the Company or the new shares could be adversely affected. The Company does not guarantee any particular rate of return or the performance of the Company or the new shares. References to "the Company" or "the Group" in this "Key Risks" section include the Company and its related bodies corporate (as defined in the Corporations Act), where the context requires. The risks outlined in this "Key Risks" section are not intended to be listed in order of importance. You should read all of this "Key Risks" section in its entirety. The risks and uncertainties described below are not an exhaustive list of the risks facing Lake or associated with an investment in Lake. Investors should be aware that an investment in the Company involves many risks, and while the Company may be able to minimise the impact of some risks through various risk management techniques, many of the risks identified in this section are beyond the control of the Company and as such cannot be eliminated or their impact minimised. There are numerous widespread risks associated with investing in any form of business, with investing in the exploration, development and mining industry, and with investing in the share market generally. There is also a range of specific risks associated with the Company's business. These specific risks together with other general risks applicable to all investments in listed securities not specifically referred to, may adversely affect the operating and financial performance or position of Lake, which in turn may affect the value of any new shares and the value of an investment in Lake. Additional risks and uncertainties may also become important factors that adversely affect Lake's operating and financial performance or position. This document is not financial product advice and has been prepared without taking into account your investment objectives or personal circumstances. Before investing in New Shares, you should consider whether an investment in new shares is suitable for you. Potential investors should consider publicly available information on Lake (such as that available on the websites of Lake and the ASX), carefully consider your personal circumstances and consult your stockbroker, solicitor, accountant or other professional adviser before making an investment decision.#4040 Key Risks Specific Risks Future Capital Raisings and Financial Risk Exploration Risk Feasibility and Development Risk Regulatory Risk LAKE RESOURCES Our ongoing activities may require substantial further financing, additional to any prior or future capital raisings. We will also require additional funding to bring the Kachi Project into commercial production. Any additional equity financing, including any utilization of the Company's Controlled Placement Agreement (also referred to as an At- The-Market (ATM) facility) with Acuity Capital Pty Ltd, which the Company may seek to utilise at any time pursuant to the terms and conditions of the ATM previously disclosed to the market, may be dilutive to shareholders and may be undertaken at prices lower than the current market price. Debt financing, if available, may involve restrictive covenants which could limit our operations and business strategy. Although we believe that additional capital can be obtained, no assurances can be made that appropriate capital or funding, if and when needed, will be available on terms favourable to us, you or at all. If we are unable to obtain additional financing as needed, we may be required to explore all options available to the company, including to reduce, delay or suspend our operations, in each case which could have a material adverse effect on our activities and which could affect our ability to continue as a going concern. Additionally, if the level of operating expenditure required is higher than expected, our financial position may be adversely affected. We may also experience unexpected shortages or increases in the costs of consumables, spare parts, plant and equipment. Our success depends on the delineation of economically mineable reserves and resources, access to required development capital, movement in the price of commodities, securing and maintaining title to our tenements and maintaining all consents and approvals necessary for the conduct of our exploration activities. Exploration on our existing tenements may be unsuccessful, resulting in a reduction in the value of those tenements, diminution in our cash reserves and possible relinquishment of the tenements. Our exploration costs are based on certain assumptions with respect to the method and timing of exploration. By their nature, these estimates and assumptions are subject to significant uncertainties and, accordingly, the actual costs may materially differ from these estimates and assumptions. Accordingly, no assurance can be given that the cost estimates and the underlying assumptions will be realised in practice, which may materially and adversely affect our viability. We may not always be able to exploit successful discoveries which may be made in areas in which we have an interest. Such exploitation would involve obtaining the necessary licences or clearances from relevant authorities that may require conditions to be satisfied and/or the exercise of discretion by such authorities. It may or may not be possible for such conditions to be satisfied. Further, the decision to proceed with further exploitation may require participation of other companies whose interests and objectives may not be the same as ours. A complex, multidisciplinary process was undertaken to complete the Phase 1 definitive feasibility study for the Kachi (see ASX announcement 19 December 2022). There is a risk that the feasibility study and associated technical works will not achieve the results expected. Additionally, there is a risk the project may not be successfully developed for commercial or financial reasons. Our operations are subject to various laws and plans in the jurisdictions in which we work, including those relating to mining, prospecting, development permit and licence requirements, industrial relations, environment, land use, royalties, water, native title and cultural heritage, mine safety and occupational health. Approvals, licences and permits required to comply with such rules are subject to the discretion of the applicable government officials. No assurance can be given that we will be successful in obtaining such authorisations or maintaining such authorisations in full force and effect without modification or revocation. To the extent such approvals are required and not obtained or maintained in a timely manner or at all, our operations may be curtailed or prohibited from continuing or proceeding with production and exploration. Our business and results of operations could be adversely affected if applications lodged for exploration licences are not granted. Maintenance of our mining and exploration tenements are subject to compliance with certain ongoing and periodic conditions. Our inability to meet those conditions may adversely affect our operations, financial position and/or performance.#4141 Key Risks LAKE RESOURCES Occupational Health and Safety Limited Operating History of the Group Key Personnel Resource Estimate Risk Environmental Risk Given our exploration activities (and especially if we achieve exploration success leading to mining activities), we will face the risk of workplace injuries which may result in workers' compensation claims, related claims under applicable law and potential occupational health and safety prosecutions. Further, the production processes used in conducting any future mining activities can be dangerous. We have, and intend to maintain, a range of workplace practices, procedures and policies which will seek to provide a safe and healthy working environment for its employees, visitors and the community which will minimise but cannot eliminate this risk. Of particular concern will be operating and managing health and safety in an environment where COVID-19 remains an ongoing concern. We have limited operating history on which we can base an evaluation of our future prospects. If our business model does not prove to be profitable, investors may lose their investment. Our historical financial information is of limited value because of our lack of operating history and the emerging nature of our business. Our prospects must be considered in the light of the risks, expenses and difficulties frequently encountered by companies in their early stage of development, particularly in the mineral exploration sector, which has a high level of inherent uncertainty. In formulating our exploration programs, feasibility studies and development strategies, we rely to a significant extent upon the experience and expertise of our current management. Many of our key personnel are important to attaining our business goals. One or more of these key employees could leave their employment, and this may adversely affect our ability to conduct our business and, accordingly, affect our financial performance and our share price. Recruiting and retaining qualified personnel is important to our success. The number of persons skilled in the exploration and development of mining properties is limited and competition for such persons is strong. Resource estimates are expressions of judgement based on knowledge, experience and industry practice. These estimates were appropriate when made but may change significantly when new information becomes available. There are risks associated with such estimates. Resource estimates are necessarily imprecise and depend to some extent on interpretations, which may ultimately prove to be inaccurate and require adjustment. Adjustments to resource estimates could affect our future plans and ultimately our financial performance and value. Lithium price fluctuations, as well as increased production costs or reduced throughput and/or recovery rates, may render resources containing relatively lower grades uneconomic and may materially affect resource estimations. Our operations and activities are subject to the environmental laws and regulations in the jurisdictions in which we work. As with most exploration projects and mining operations, our operations and activities are expected to have an impact on the environment, particularly if advanced exploration or mine development proceeds. We attempt to conduct our operations and activities to the highest standards of environmental obligation, including compliance with all environmental laws and regulations. We are unable to predict the effect of additional environmental laws and regulations which may be adopted in the future, including whether any such laws or regulations would materially increase our cost of doing business or affect our operations in any area. There can be no assurances that new environmental laws, regulations or stricter enforcement policies, once implemented, will not oblige us to incur significant expenses and undertake significant investments which could have a material adverse effect on our business, financial condition and performance. We are subject to and compliant with all aspects of environmental regulation of our exploration and mining activities. We are not aware of any environmental law that is not being complied with as at the date of this presentation.#4242 Key Risks LAKE RESOURCES Availability of Equipment and Contractors Climate Change Risk Macro-Economic Risk Argentina Political Risk Argentina Financial Risk Prior to the COVID-19 pandemic and the 2022 Russian invasion of Ukraine, appropriate goods, materials, supplies and equipment, including drill rigs, were in short supply. There was also high demand for contractors providing other services to the mining industry. The COVID-19 pandemic and the 2022 Russian invasion of Ukraine has only served to exacerbate these issues. Consequently, there is a risk that we may not be able to source all the goods, materials, supplies, equipment and contractors to perform required scopes of work to fulfil our proposed activities. There is also a risk that hired contractors may underperform or that equipment may malfunction, either of which may affect the progress of our activities. Our operations and activities are subject to changes to local or international compliance regulations related to climate change mitigation efforts, specific taxation or penalties for carbon emissions or environmental damage, and other possible restraints on industry that may further impact us and our profitability. While we will endeavour to manage these risks and limit any consequential impacts, there can be no guarantee that we will not be impacted by these occurrences. Climate change may also cause certain physical and environmental risks that we cannot predict, including events such as increased severity of weather patterns, incidence of extreme weather events and longer- term physical risks such as shifting climate patterns. All these risks associated with climate change may significantly change the industry in which we operate. Although the world has emerged from the COVID-19 pandemic, global supply chains constraints, labour unavailability and equipment shortages are still material risks to our operations. Supply chain constraints continue to be exacerbated because of the 2022 Russian invasion of Ukraine. Hyperinflationary pressures in Argentina for appropriately skilled labour and capital items are being seen across many industries, including mining. Current domestic and international inflation is at historic levels, resulting in persisting elevated interest rates globally. These conditions could have material adverse impact to our cost of doing business and financial performance. Our operations can be affected by changing political, regulatory and economic environments in the countries in which we operate. Our exploration activities are entirely focused in Argentina, which underwent an election in late 2023. The newly elected administration is and its policies could materially change the business and financial climate of the country. It is possible that the new administration's policies or failure to implement its policies could materially impact our ability to, for example, maintain our tenements, obtain and maintain permits, negotiate with the government acceptable fiscal terms to support any debt-financing, and/or exportation of capital, any of which, if realised, could impact our financial performance and ability to develop our projects. Argentina, the jurisdiction in which we focus our operations, maintains capital controls which have the effect of restricting our access to foreign exchange markets and repatriation of profits. These measures have been implemented and maintained sporadically in Argentina for multiple decades with the most recent implementation occurring in 2019. These controls restrict our ability to convert Argentinian Pesos into U.S. Dollars or other currency and may restrict our ability in the future to export from Argentina profits we earn from our operations. Argentina occasionally modifies its capital controls frameworks, any changes to which, could have a material negative impact on our future operations. For example, capital controls may impact our ability to pay for imports into Argentina in U.S. Dollars or other hard currency. Additionally, our lenders may restrict our ability to use a portion of debt funds for in-country operations. Argentina also maintains a robust import program which restricts importation of certain products we may need from the international market. Compliance with Argentina's import restrictions often results in delays and the need to attempt to source needed products locally, either of which could cause delays to our operations.#4343 Key Risks LAKE RESOURCES Metallurgy and hydrometallurgy Volatility of lithium price Tenure risk Offtake risk Third party risk Insurance Lake has completed significant test work as reported in the Phase 1 Definitive Feasibility Study and has engaged expert third parties to conduct engineering and testing. However, metal and/or mineral recoveries are dependent upon the metallurgical process, and by its nature contain elements of significant risk such as identifying a metallurgical process through test work to produce a saleable product, developing an economic process route to produce a saleable product, and changes in mineralogy in the ore deposit can result in inconsistent ore grades and recovery rates affecting the economic viability of the project. If the Company achieves success leading to mineral production, the revenue it will derive through the sale of commodities exposes the potential income of the Company to price and exchange rate risks. Commodity prices fluctuate and are affected by many factors beyond the control of the Company including the international supply and demand for commodities, the quality of the minerals produced, actions taken by governments, forward selling activities and other macroeconomic factors. Securing and maintaining tenure over mining licences is critical to the future development of the Kachi Project. There is no guarantee that any pending concessions will be granted and, if granted, whether any conditions will be imposed (although the Company is currently not aware of any reasons against the approval). Renewal of titles is made by way of application to the provincial governments. There is no guarantee that a renewal will be automatically granted other than in accordance with the applicable local legislation and whether any conditions will be imposed. Lake has Conditional Framework Agreements with SK On and WMC Energy, which are conditional in nature and is currently undertaking a strategic partner selection process with respect to both equity of the entity holding the Kachi project and offtake from the Kachi project. A failure of the counterparties to the offtake agreements to take the contemplated quantities of product, whether or not in breach of the commitments, may adversely affect the revenue to be derived from the Kachi project. In addition, there is no certainty that Lake will be able to enter into offtake agreements in a timely manner, with acceptable parties, for sufficient volumes or on reasonable terms. An inability to enter into additional offtake arrangements on terms satisfactory to Lake, or at all, or to give effect to existing offtake arrangements, could adversely impact Lake ability to develop or sustain the Kachi project. The Company will rely significantly on strategic relationships with other entities, including through its strategic partner selection process, and also on a good relationship with regulatory and provincial governments and other interest holders. The Company will also rely on third parties to provide essential contracting services. There can be no assurance that its existing relationships will continue to be maintained or that new ones will be successfully formed. The Company could be adversely affected by changes to such relationships or difficulties in forming new ones. Insurance of all risks associated with mineral exploration and production is not always available and, where available, the cost can be high. The Company maintains insurance within a coverage range that it considers to be consistent with industry practice and appropriate for its needs at this time. The occurrence of an event that is uninsurable, not covered, or only partially covered by insurance could have a material adverse effect on the Company's business and financial position.#4444 Key Risks LAKE RESOURCES Access to infrastructure Forecast risk Competition Mining, processing, development, and exploration activities depend, to a significant degree, on adequate infrastructure. In the course of developing the Kachi project, the Company will need to construct and/or update existing infrastructure, which includes permanent water supplies, dewatering, solid waste storage facilities, power, maintenance facilities and logistics services and access roads. Reliable roads, bridges, power sources and water supply are important determinants which affect capital and operating costs. Unusual or infrequent weather phenomena, sabotage, government or other interference in the maintenance or provision of such infrastructure could materially adversely affect the Company's operations, financial condition, and results of operations. Any such issues arising in respect of the supporting infrastructure or on the Company's sites could materially adversely affect the Company's results of operations or financial condition. Furthermore, any failure or unavailability of the Company's operational infrastructure including its development (for example, through equipment failure or disruption to its transportation arrangements) could materially adverse its exploration activities or development of a mine or project. The Company has prepared operating cash costs, future production targets and revenue profiles for its future operations for Phase 1 of the Kachi project. Lake relies on forecasts from 3rd party providers (such as Wood Mackenzie) to form a view of the market and use in planning purposes. There is no guarantee that these 3rd party forecasts are correct. Additionally, these forecasts, although considered to have reasonable grounds, may be adversely affected by a range of factors including: mining, processing and loading equipment failures and unexpected maintenance problems; limited availability or increased costs of mining, processing and loading equipment and parts and other materials from suppliers; mine safety accidents; adverse weather and natural disasters; and a shortage of skilled labour. If any of these other conditions or events occur in the future, they may increase the cost of mining or delay or halt planned commissioning, ramp up and production, which could adversely affect Lake's results of operations or decrease the value of Lake's assets. The Company has in place a framework for the management of operational risks and an insurance program that provides coverage for a number of these operating risks. However, any unforeseen increases in capital or operating costs of the project could have an unexpected adverse impact on Lake future cash flows, profitability, results of operations and financial condition. No assurance can be given that Lake's estimates will be achieved or that Lake will have access to sufficient capital to develop the project due to an increase in capital and operating cost estimates. Investors should have regard to the material assumptions in Lake's DFS released 19 December 2023. Lake will compete with other companies, including major mining companies in Australia and internationally (including in Argentina). Some of these companies will have greater financial and other resources than Lake and, as a result, may be in a better position to compete for future business opportunities. There can be no assurance that Lake can compete effectively with these companies. Shareholder approval risk Where the issue of new shares or other securities requires the approval of the Company's shareholders, there is a risk that the Company's shareholders do not approve the issue, which may result in the in the Company not raising a portion of the proceeds under the capital raising. Lake may need to seek alternative sources of finance to continue developing the Kachi project, which could have an adverse effect on Lake's share price. Also, certain transaction costs in relation to the placement and the Share Purchase Plan, such as legal and advisory fees, will still be payable by Lake.#4545 Key Risks LAKE RESOURCES General Risks Potential for dilution General economic and investment risks Taxation A shareholder's percentage holding in the Company will be diluted by not participating in the placement (which will include all retail shareholders and those institutional shareholders who do not participate in the placement). Depending on their level of participation, some shareholders may also be diluted by the share purchase plan. It is not possible to predict what the value of the Company or its shares will be following the completion of the equity raising and the Directors do not make any representation as to such matters. The historical trading price of the shares on ASX prior to this equity raising is not a reliable indicator as to the potential trading price of shares after completion of the equity raising. As with all stock market investments, there are risks associated with an investment in Lake. The trading price of the Company's shares may fluctuate with movements in equity capital markets in Australia and internationally, and may also be influenced by a number of factors, some of which are specific to Lake and its operations and some of which may affect listed companies generally. Generally applicable factors that may affect the market price of shares include: general movements in Australian and international securities markets; investor sentiment; Australian and international economic conditions and outlook; changes in interest rates and the rate of inflation; changes in government regulation and policies (including in relation to taxation); announcement of new technologies; and geopolitical instability. General economic conditions may also negatively affect the Company's performance and the performance of the Company's shares. Any protracted slowdown in economic conditions or factors such as movements in inflation or interest rates, the cost and general availability of credit, and industrial disruption may have a negative impact on the Company's costs and revenue. The disposal of any newly acquired shares will have tax consequences, which will differ depending on the individual financial affairs of each investor. All investors are urged to obtain independent financial advice about the consequences of disposing of any new shares from a taxation viewpoint and generally. To the maximum extent permitted by law, the Company, its officers and each of their respective advisors accept no liability and responsibility with respect to the taxation consequences of acquiring or disposing of the new shares under this equity raising. Force majeure Data and cyber security risk The Company's projects now or in the future may be adversely affected by risks outside the control of the Company, including fires, labour unrest, civil disorder, war, subversive activities or sabotage, floods, pandemics, explosions or other catastrophes, epidemics, or quarantine restrictions. The integrity, availability and reliability of data within the Company's information technology systems may be subject to intentional or unintentional disruption. Given the level of increasing sophistication and scope of potential cyber-attacks, these attacks may lead to significant breaches of security which could jeopardise the sensitive information and financial transactions of the Company. This risk may be escalated as a consequence of COVID-19 and the increase in remote working by our staff and contractors, notwithstanding Lake's efforts to mitigate this threat.#46Appendix D - International Offer Jurisdictions LAKE RESOURCES#4747 International Offer Jurisdictions LAKE RESOURCES Canada (British Columbia, Ontario and Quebec) European Union (excluding Austria) This document constitutes an offering of New Securities only in the Provinces of British Columbia, Ontario and Quebec (the "Provinces"), only to persons to whom New Securities may be lawfully distributed in the Provinces, and only by persons permitted to sell such securities. This document is not a prospectus, an advertisement or a public offering of securities in the Provinces. This document may only be distributed in the Provinces to persons who are "accredited investors" within the meaning of National Instrument 45-106 - Prospectus Exemptions, of the Canadian Securities Administrators. No securities commission or authority in the Provinces has reviewed or in any way passed upon this document, the merits of the New Securities or the offering of the New Securities and any representation to the contrary is an offence. No prospectus has been, or will be, filed in the Provinces with respect to the offering of New Securities or the resale of such securities. Any person in the Provinces lawfully participating in the offer will not receive the information, legal rights or protections that would be afforded had a prospectus been filed and receipted by the securities regulator in the applicable Province. Furthermore, any resale of the New Securities in the Provinces must be made in accordance with applicable Canadian securities laws. While such resale restrictions generally do not apply to a first trade in a security of a foreign, non-Canadian reporting issuer that is made through an exchange or market outside Canada, Canadian purchasers should seek legal advice prior to any resale of the New Securities. The Company as well as its directors and officers may be located outside Canada and, as a result, it may not be possible for purchasers to effect service of process within Canada upon the Company or its directors or officers. All or a substantial portion of the assets of the Company and such persons may be located outside Canada and, as a result, it may not be possible to satisfy a judgment against the Company or such persons in Canada or to enforce a judgment obtained in Canadian courts against the Company or such persons outside Canada. Any financial information contained in this document has been prepared in accordance with Australian Accounting Standards and also comply with International Financial Reporting Standards and interpretations issued by the International Accounting Standards Board. Unless stated otherwise, all dollar amounts contained in this document are in Australian dollars. Statutory rights of action for damages and rescission. Securities legislation in certain Provinces may provide a purchaser with remedies for rescission or damages if an offering memorandum contains a misrepresentation, provided the remedies for rescission or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's Province. A purchaser may refer to any applicable provision of the securities legislation of the purchaser's Province for particulars of these rights or consult with a legal adviser. Certain Canadian income tax considerations. Prospective purchasers of the New Securities should consult their own tax adviser with respect to any taxes payable in connection with the acquisition, holding or disposition of the New Securities as there are Canadian tax implications for investors in the Provinces. Language of documents in Canada. Upon receipt of this document, each investor in Canada hereby confirms that it has expressly requested that all documents evidencing or relating in any way to the sale of the New Securities (including for greater certainty any purchase confirmation or any notice) be drawn up in the English language only. Par la réception de ce document, chaque investisseur canadien confirme par les présentes qu'il a expressément exigé que tous les documents faisant foi ou se rapportant de quelque manière que ce soit à la vente des valeurs mobilières décrites aux présentes (incluant, pour plus de certitude, toute confirmation d'achat ou tout avis) soient rédigés en anglais seulement. This document has not been, and will not be, registered with or approved by any securities regulator in the European Union. Accordingly, this document may not be made available, nor may the New Securities be offered for sale, in the European Union except in circumstances that do not require a prospectus under Article 1(4) of Regulation (EU) 2017/1129 of the European Parliament and the Council of the European Union (the "Prospectus Regulation"). In accordance with Article 1(4)(a) of the Prospectus Regulation, an offer of New Securities in the European Union is limited to persons who are "qualified investors" (as defined in Article 2(e) of the Prospectus Regulation).#4848 International Offer Jurisdictions (Cont.) LAKE RESOURCES Hong Kong New Zealand Singapore WARNING: This document has not been, and will not be, registered as a prospectus under the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32) of Hong Kong, nor has it been authorised by the Securities and Futures Commission in Hong Kong pursuant to the Securities and Futures Ordinance (Cap. 571) of the Laws of Hong Kong (the "SFO"). Accordingly, this document may not be distributed, and the New Securities may not be offered or sold, in Hong Kong other than to "professional investors" (as defined in the SFO and any rules made under that ordinance). No advertisement, invitation or document relating to the New Securities has been or will be issued, or has been or will be in the possession of any person for the purpose of issue, in Hong Kong or elsewhere that is directed at, or the contents of which are likely to be accessed or read by, the public of Hong Kong (except if permitted to do so under the securities laws of Hong Kong) other than with respect to New Securities that are or are intended to be disposed of only to persons outside Hong Kong or only to professional investors. No person allotted New Securities may sell, or offer to sell, such securities in circumstances that amount to an offer to the public in Hong Kong within six months following the date of issue of such securities. The contents of this document have not been reviewed by any Hong Kong regulatory authority. You are advised to exercise caution in relation to the offer. If you are in doubt about any contents of this document, you should obtain independent professional advice. This document has not been registered, filed with or approved by any New Zealand regulatory authority under the Financial Markets Conduct Act 2013 (the "FMC Act"). The New Securities are not being offered or sold in New Zealand (or allotted with a view to being offered for sale in New Zealand) other than to a person who: is an investment business within the meaning of clause 37 of Schedule 1 of the FMC Act; meets the investment activity criteria specified in clause 38 of Schedule 1 of the FMC Act; is large within the meaning of clause 39 of Schedule 1 of the FMC Act; is a government agency within the meaning of clause 40 of Schedule 1 of the FMC Act; or is an eligible investor within the meaning of clause 41 of Schedule 1 of the FMC Act. This document and any other materials relating to the New Securities have not been, and will not be, lodged or registered as a prospectus in Singapore with the Monetary Authority of Singapore. Accordingly, this document and any other document or materials in connection with the offer or sale, or invitation for subscription or purchase, of New Securities, may not be issued, circulated or distributed, nor may the New Securities be offered or sold, or be made the subject of an invitation for subscription or purchase, whether directly or indirectly, to persons in Singapore except pursuant to and in accordance with exemptions in Subdivision (4) Division 1, Part 13 of the Securities and Futures Act 2001 of Singapore (the "SFA") or another exemption under the SFA. This document has been given to you on the basis that you are an "institutional investor" or an "accredited investor" (as such terms are defined in the SFA). If you are not such an investor, please return this document immediately. You may not forward or circulate this document to any other person in Singapore. Any offer is not made to you with a view to the New Securities being subsequently offered for sale to any other party in Singapore. On-sale restrictions in Singapore may be applicable to investors who acquire New Securities. As such, investors are advised to acquaint themselves with the SFA provisions relating to resale restrictions in Singapore and comply accordingly.#4949 International Offer Jurisdictions (Cont.) LAKE RESOURCES United Kingdom United States Neither this document nor any other document relating to the offer has been delivered for approval to the Financial Conduct Authority in the United Kingdom and no prospectus (within the meaning of section 85 of the Financial Services and Markets Act 2000, as amended ("FSMA")) has been published or is intended to be published in respect of the New Securities. The New Securities may not be offered or sold in the United Kingdom by means of this document or any other document, except in circumstances that do not require the publication of a prospectus under section 86(1) of the FSMA. This document is issued on a confidential basis in the United Kingdom to "qualified investors" within the meaning of Article 2(e) of the UK Prospectus Regulation. This document may not be distributed or reproduced, in whole or in part, nor may its contents be disclosed by recipients, to any other person in the United Kingdom. Any invitation or inducement to engage in investment activity (within the meaning of section 21 of the FSMA) received in connection with the issue or sale of the New Securities has only been communicated or caused to be communicated and will only be communicated or caused to be communicated in the United Kingdom in circumstances in which section 21(1) of the FSMA does not apply to the Company. In the United Kingdom, this document is being distributed only to, and is directed at, persons (i) who have professional experience in matters relating to investments falling within Article 19(5) (investment professionals) of the Financial Services and Markets Act 2000 (Financial Promotions) Order 2005 ("FPO"), (ii) who fall within the categories of persons referred to in Article 49(2)(a) to (d) (high net worth companies, unincorporated associations, etc.) of the FPO or (iii) to whom it may otherwise be lawfully communicated ("relevant persons"). The investment to which this document relates is available only to relevant persons. Any person who is not a relevant person should not act or rely on this document. This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States. The New Securities have not been, and will not be, registered under the US Securities Act of 1933 or the securities laws of any state or other jurisdiction of the United States. Accordingly, the New Securities may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the US Securities Act and applicable US state securities laws. The New Securities will only be offered and sold in the United States to: "qualified institutional buyers" (as defined in Rule 144A under the US Securities Act); and dealers or other professional fiduciaries organized or incorporated in the United States that are acting for a discretionary or similar account (other than an estate or trust) held for the benefit or account of persons that are not US persons and for which they exercise investment discretion, within the meaning of Rule 902(k)(2)(i) of Regulation S under the US Securities Act.#50Investor Presentation XKE RESOURCES Перед March 2024