#1AMERICAN LITHIUM One of the Largest Lithium Developers in the Americas Corporate Presentation | April 2023 TSX.V: LI | Nasdaq: AMLI | Frankfurt: 5la1#2Disclaimer THIS MANAGEMENT PRESENTATION (THE "PRESENTATION") WAS PREPARED AS A SUMMARY OVERVIEW ONLY OF THE CURRENT AFFAIRS OF AMERICAN LITHIUM CORP. ("AL" OR "AMERICAN LITHIUM") AND ITS SUBSIDIARIES, INCLUDING WITHOUT LIMITATION, PLATEAU ENERGY METALS INC. ("PLU", WITH AL, PLU AND THE OTHER SUBSIDIARIES TOGETHER REFERRED TO AS, THE "COMPANIES") AND WAS NOT PREPARED FOR THE PURPOSE OF ASSISTING PROSPECTIVE INVESTORS IN MAKING A DECISION TO INVEST IN ANY SECURITIES OF THE COMPANIES. THE COMPANIES DO NOT MAKE ANY REPRESENTATION AS TO THE COMPLETENESS, TRUTH OR ACCURACY OF THE INFORMATION CONTAINED IN THIS PRESENTATION. THE COMPANIES EXPRESSLY WARN READERS NOT TO RELY ON THE INFORMATION HEREIN FOR INVESTMENT OR OTHER RELATED PURPOSES. ACCORDINGLY, ANY USE OF THIS INFORMATION IS AT YOUR RISK AND WITHOUT LIABILITY TO THE COMPANIES NOR ANY OF THEIR ADVISORS, AGENTS OR REPRESENTATIVES. THE INFORMATION CONTAINED HEREIN IS NOT AND SHOULD NOT BE CONSTRUED AS EITHER A PUBLIC OR PRIVATE OFFER OR SOLICITATION TO PURCHASE SECURITIES IN THE CAPITAL STOCK OF THE COMPANIES, NOR AS LEGAL, FINANCIAL, OR TAX ADVICE. THE READER IS REFERRED TO HIS/HER/ITS PROFESSIONAL LEGAL, FINANCIAL AND TAX ADVISORS REGARDING INVESTMENT RELATED DECISIONS RESPECTING THE SECURITIES OF THE COMPANIES. NO SECURITIES REGULATORY AUTHORITY OR SIMILAR AUTHORITY HAS REVIEWED OR IN ANY WAY PASSED ON THE ACCURACY OR ADEQUACY OF THIS PRESENTATION. ANY REPRESENTATION TO THE CONTRARY IS CRIMINAL OFFENSE. QUALIFIED PERSON AND TECHNICAL REPORTS The scientific and technical information contained in this Presentation has been reviewed and approved by Ted O'Connor, a Director of AL, who is a Qualified Persons as defined in National Instrument 43-101. Certain scientific and technical information with respect to the TLC Property contained in this Presentation has been taken from the PEA report entitled "Tonopah Lithium Claims Project NI 43-101 Technical Report - Preliminary Economic Assessment" with an effective date of January 31, 2023 and prepared by Derek J. Loveday of Stantec Consulting Ltd., a copy of which is available on American Lithium's SEDAR profile at www.sedar.com. Certain scientific and technical information with respect to: (a) the Falchani Project contained in this Presentation has been taken from the technical report entitled "Falchani Lithium Project NI 43-101 Technical Report - Preliminary Economic Assessment" with an effective date of February 4, 2020 and prepared by John Joseph Riordan, David Alan Thompson, Valentine Eugene Coetzee and Stewart Nupen of DRA Pacific.; and (b) the Macusani Project contained in this Presentation has been taken from the technical report entitled "Macusani Project, Macusani, Peru, NI 43-101 Report - Preliminary Economic Assessment" with an effective date of January 12, 2016 and prepared by Michael Short and Thomas Apelt of GBM Minerals Engineering Consultants Limited, David Young of The Mineral Corporation and Mark Mounde of Wardell Armstrong International Limited, copies of both of which are available on PLU'S SEDAR profile at www.sedar.com. The preliminary economic assessments included herein are preliminary in nature and include inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessments will be realized. Additional work is required to upgrade the mineral resources to mineral reserves. In addition, the mineral resource estimates could be materially affected by environmental, geotechnical, permitting, legal, title, taxation, socio-political, marketing or other relevant factors. All figures are reported in US dollars ("$"), unless otherwise noted. Economic highlights represent the Companies' 100% interest in the projects. FORWARD-LOOKING INFORMATION This Presentation contains certain forward-looking information and forward-looking statements (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend", "indicate", "scheduled", "target", "goal", "potential", "subject", "efforts", "option" and similar words, or the negative connotations thereof, referring to future events and results. Forward-looking statements in this Presentation include, but are not limited to: statements regarding the business, operations, outlook and financial performance and condition of the Companies; plans, objectives and advancement of the TLC Property, Falchani Project and Macusani Project (the "Projects"); exploration drilling plans, in-fill and expansion drilling plans and other work plans and exploration programs to be conducted; results of exploration, development and operations; expansion of resources and testing of new deposits; environmental and social community and other permitting; timing, type and amount of capital and operating and exploration expenditures; estimation of mineral resources and mineral reserves; preliminary economic assessments, including the assumptions and parameters upon which they are based; development and advancement of the Projects; treatment under regulatory regimes; ability to realize value from the Companies' assets; any other statements regarding the business plans, expectations and objectives of the Companies; and any other information contained herein that is not a statement of historical fact. Forward-looking statements are based on management's reasonable estimates, expectations, analyses and opinions at the date the information is provided, and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Assumptions upon which such forward-looking information are based include, without limitation, that no significant event will occur outside the ordinary course of business of the Companies; legislative and regulatory environment; impact of increasing competition; current technological trends; price of lithium, uranium and other metals; costs of development and advancement; anticipated results of exploration and development activities; the ability to operate in a safe and effective manner; and the ability to obtain financing on reasonable terms. Readers are cautioned that the foregoing list is not exhaustive. Further, the aforementioned assumptions may be affected by the negative disruptive effect of the novel coronavirus ("COVID-19") pandemic, which has resulted in a widespread health crisis that has affected the economies and financial markets of many countries around the world. The international response to the spread of COVID-19 has led to significant restrictions on travel; temporary business closures; quarantines; global stock market and financial market volatility; a general reduction in consumer activity; operating, supply chain and project development delays and disruptions; and declining trade and market sentiment, all of which have and could further affect commodity prices, interest rates, credit ratings and credit risk. The continuing and additional business interruptions, expenses and delays relating to COVID-19, could have a material adverse impact on the Companies' plans, operations, financial condition and the market for its securities; however, as at the date of this Presentation, such cannot be reasonably estimated. Although AL believes that the current opinions and expectations reflected in such forward- looking statements are reasonable based on information available at the time, undue reliance should not be placed on forward-looking statements since AL can provide no assurance that such opinions and expectations will prove to be correct. © 2022 American Lithium. All Rights Reserved 2#3Disclaimer All forward-looking statements are inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including risks, uncertainties and assumptions related to: the Companies' ability to achieve their stated goals, including the the estimated valuation of the Companies being accurate; the estimated costs associated with the advancement of the Projects; legislative changes that impact operations of the Companies; risks and uncertainties relating to the COVID-19 pandemic and the extent and manner to which measures taken by governments and their agencies, the Companies or others to attempt to reduce the spread of COVID-19 could affect the Companies, which could have a material adverse impact on many aspects of the Companies' businesses including but not limited to: the ability to access mineral properties for indeterminate amounts of time, the health of the employees or consultants resulting in delays or diminished capacity, social or political instability in Peru which in turn could impact AL's ability to maintain the continuity of its business operating requirements, may result in the reduced availability or failures of various local administration and critical infrastructure, reduced demand for the Companies' potential products, availability of materials, global travel restrictions, and the availability of insurance and the associated costs; risks related to the certainty of title to the properties of the Companies, including the status of the "Precautionary Measures" filed by AL's subsidiary Macusani Yellowcake S.A.C. ("Macusani"), the outcome of the administrative process, the judicial process, and any and all future remedies pursued by AL and its subsidiary Macusani to resolve the title for 32 of its concessions; the ongoing ability to work cooperatively with stakeholders, including but not limited to local communities and all levels of government; the potential for delays in exploration or development activities due to the COVID-19 pandemic; the interpretation of drill results, the geology, grade and continuity of mineral deposits; the possibility that any future exploration, development or mining results will not be consistent with our expectations; risks that permits will not be obtained as planned or delays in obtaining permits; mining and development risks, including risks related to accidents, equipment breakdowns, labour disputes (including work stoppages, strikes and loss of personnel) or other unanticipated difficulties with or interruptions in exploration and development; risks related to commodity price and foreign exchange rate fluctuations; risks related to foreign operations; the cyclical nature of the industry in which the Companies operate; risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals; risks related to environmental regulation and liability; political and regulatory risks associated with mining and exploration; risks related to the uncertain global economic environment and the effects upon the global market generally, and due to the COVID-19 pandemic measures taken to reduce the spread of COVID-19, any of which could continue to negatively affect global financial markets, including the trading price of AL's shares and could negatively affect the Companies' ability to raise capital and may also result in additional and unknown risks or liabilities to the Companies. Other risks and uncertainties related to prospects, properties and business strategy of the Companies are identified in the "Risk Factors" section of AL's Management's Discussion and Analysis filed on June 28, 2022, and in recent securities filings available at www.sedar.com. Although the Companies have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Companies does not undertake to update any forward-looking statements that are contained herein, except in accordance with applicable securities laws. CAUTIONARY NOTE REGARDING MACUSANI CONCESSIONS Thirty-two of the 151 concessions held by American Lithium's subsidiary Macusani, are currently subject to Administrative and Judicial processes (together, the "Processes") in Peru to overturn resolutions issued by INGEMMET and the Mining Council of MINEM in February 2019 and July 2019, respectively, which declared Macusani's title to 32 of the concessions invalid due to late receipt of the annual validity payments. In November 2019, Macusani applied for injunctive relief on 32 concessions in a Court in Lima, Peru and was successful in obtaining such an injunction on 17 of the concessions including three of the four concessions included in the Macusani Uranium Project PEA. The grant of the Precautionary Measure (Medida Cautelar) has restored the title, rights and validity of those 17 concessions to Macusani until a final decision is obtained at the last stage of the judicial process. A Precautionary Measure application was made at the same time for the remaining 15 concessions and was ultimately granted by a Court in Lima, Peru on March 2, 2021 which has also restored the title, rights and validity of those 15 remaining concessions to Macusani, with the result being that all 32 concessions are now protected by Precautionary Measure (Medida Cautelar) until a final decision on this matter is obtained at the last stage of the judicial process. The favourable judge's ruling confirming title to all 32 concessions from November 3, 2021 represents the final stage of the current judicial process. However, this ruling has recently been appealed by MINEM and INGEMMET. American Lithium has no assurance that the outcome of these appeals will be in the Company's favour. FUTURE-ORIENTED FINANCIAL INFORMATION To the extent any forward-looking information in this Presentation constitutes "future-oriented financial information" or "financial outlooks" within the meaning of applicable Canadian securities laws, such information is being provided to demonstrate the anticipated market penetration and the reader is cautioned that this information may not be appropriate for any other purpose and the reader should not place undue reliance on such future-oriented financial information and financial outlooks. Future-oriented financial information and financial outlooks, as with forward-looking information generally, are, without limitation, based on the assumptions and subject to the risks set out above under the heading "Forward-Looking Information". The Companies' actual financial position and results of operations may differ materially from management's current expectations and, as a result, the Companies' valuation may differ materially from the valuation provided in this presentation. Such information is presented for illustrative purposes only and may not be an indication of the Companies' actual financial position or results of operations. © 2022 American Lithium. All Rights Reserved 3#4American Lithium Corp. Two of the Largest Lithium Deposits In The Americas 9.8 MT Li₂CO3 M&I and 5.66 MT Li₂CO3 Inferred (1) ➤ World's 5th Largest Undeveloped Uranium Deposit 51.9 Mlbs U30g Indicated and 72.1 Mlbs U3Og Inferred(2) ➤ Robust Economics Underpinned by Low-Cost Position Cumulative NPV across 3 projects - US$5.3B(3) ➤ Accomplished Management Team Deep Technical Expertise and Proven Track Record of Wealth Creation Sustainable and Ethical Business Model Emphasis on ESG ➤ Well Funded with Strong Treasury US$40M in Cash, No Debt, No Royalties ➤ Trading at a Steep Discount to Peer Group Several Key Milestones to Close the Gap Falchani Lithium Peru Resources (Li2CO3) 1.00 MT Indicated 3.80 MT Inferred US$1.5B NPV(3) Value Tonopah Lithium Claims Nevada, US Resources (Li2CO3) 8.83 MT M&I 1.86 MT Inferred Value US$3.26B NPV (3) Macusani Uranium Peru Resources (U308) 51.9 Mlbs Indicated 72.1 Mibs Inferred Value US$603M NPV(3) (1) At 500 ppm Li cutoff grade for TLC, and 1000 ppm Li cutoff grade for Falchani (2) At 75 ppm U cutoff grade (3) TLC PEA Report Effective January 31, 2023, Falchani PEA Effective February 20, 2020, Macusani PEA Effective January 12, 2016 4#5Environmental, Social, Governance (ESG) Environment • Working to always minimize the environmental impact of our activities. Biological surveys at TLC confirm no protected species or endangered habitat. Initiatives to secure water rights and to minimize water loss & land disturbance. PEAs focus on utilizing infrastructure with best environmental footprint. Social • Committed to the long-term prosperity of the communities Promote equality, responsible labour practices. . Engage in regular dialogue and consultation with all stakeholders. Community Creation of well-paying employment. Support for community enhancement initiatives. Prioritization for sourcing local goods and services. Health and Safety Safety protocols for employees, stakeholders, and the communities in which we operate. Adherence to all relevant COVID 19 protocols. . Excellent safety record Engaged industry leader Onyen Corporation for our ESG reporting platform. 5 い MACUSANI#6Tonopah Lithium Claims - TLC $ Highlights Robust Economics (using $20,000/t LCE) Stage 1 Project: Base Case Highlights US$3.26 billion 27.5% 3.8 Years US$14,617M LOM " NPV8: US$3.26 Billion, IRR 27.5% and 3.8 years payback " Large Scale: Average LOM Production of ~ 38,000tpa LCE for 40 years. High Cash Flow: US$14,617M LOM, US$396M average annually. Low CapEx: US$827M initial capital Scalable 40-year mine life producing technical-grade lithium carbonate Key Characteristics NPV(8%)¹ IRR, after- tax Payback¹ undiscounted US$396M average annual LOM Cash Flow¹ after-tax US$7,443 US$819M 40 years per tonne " 100% owned, large scale lithium claystone project Production ~38,000 tpa avg LOM Near surface, weakly bound lithium deposit with minimal overburden Li,co. Significant environmental advantages, deposit above water table OPEX² No threatened or protected plants or wildlife Initial CAPEX³ Mine Life Battery Grade4 Magnesium by-product optionality adds great value M Strategically Located 12,300-acre property ~ 6 miles NW of Tonopah, Nevada Nearby highways, electrical, rail, natural gas line and secured water rights Path Forward Wide diameter drill program Pilot plant with Ansto Commencement of Pre-Feasibility by DRA Global & Stantec M&I* Inferred* Resources (5) Tonnes Grade Contained (Mt) (ppm Li) (Li MT) (Li₂ CO3 MT) 2052 809 1.66 8.83 486 713 0.35 1.86 1. After-tax, average annual at steady state throughput of 3mtpa, based on a selling price of $20,000/t Li2CO3. 2. Inclusive of G&A, Mining, Processing and Tailings Handling. 3. Includes: Includes EPCM, spares, insurances, owners' team, Process Plant Contingency of 11%, Infrastructure Costs (Road and TSF) inclusive of 15% contingency. 4. Steady State - battery quality Li2CO3. * See IMPORTANT PEA Cautionary Notes on Slide 2. 5. Resource info from Stantec N 43-101 Report released on December 1st, 2022. Further info from TLC PEA released on Feb 1, 2023 6#7TLC's Unique Lithium Deposit Nevada 3N 415 BATTLE MOUNTAIN DISTRICT OFFICE Топopan Fied ке 1553 South Main Street • • Processing Highlights Lithium is weakly bound to the clays >90% leach extraction within 10 minutes - fast tracking to production Highest extractions >97% - overall post-leach recoveries ~ 90% >99% lithium carbonate purity on first precipitation; can be economically upgraded to battery grade carbonate or hydroxide Potential MgSO4 fertilizer by-product Property Features Low Deleterious Elements • Low mercury, arsenic, radioactivity (uranium) No Water Issues • Resource above the water table, no runoff or watershed issues • Water rights secured Legend 2022 Core Drill Holes 2022 RC Drill Holes 2022 Sonic Drill Holes 2021 RC Drill Holes 2020 RC Drill Holes 2020 Sonic Drill Holes 2019 RC Drill Holes 2019 Core Drill Holes West End Claims NAD 2000 TLC Property Boundary (50626H/12510.0 Acres) Resource-Measured Resource-Indicated Resource-Inferred and pit crest 4000 AMERICAN ANTHIUM TLC Project All Drill Holes Entire property + Resource Outline Explanation Project Area (4.665 acres) -Existing Road - Access Road Proposed Activities Dill Sites (110) ⚫ VWP Web Grandwater Montering Walk Constructed Roads 16,223 feet) Overland Travel (70.005 feet) Bulk Sample Test Pits (5) Stockpiles (5) Oleging Arcas (3) Laydown Ares (1) BUREAU OF LAND MANAGEMENT TLC EXPLORATION PROJECT Locations of Proposed Activities within the Project Area Figure 2.1.1 Minimal Overburden • Mineralization close to surface - deepest pit depth 350 feet Simple Lithium Upgrading Gravity separation upgrades lithium - 1300 2200 ppm 0.5 11.02/2021 BLM Exploration Plan of Operations No Endangered Plants or Species 7#8Falchani - Battery Grade Lithium SCALABLE, LONG LIFE BATTERY QUALITY LITHIUM CHEMICAL PROJECT IN PERU Asset Location and Concession N Ocacasa 4 Falchani Highlights ($) Robust Economics (using $12,000/E Li2C03) " NPV8: US$1.5 Billion, IRR 19.7% and 4.7 years payback Large Scale: 23,000tpa Li2CO3 Y1-Y7, 44,000tpa Y8-Y12, 85,000tpa Y13-33 " High Cash Flow: US$8,977M LOM, US$430M average annually. Low CapEx: US$587M initial capital PERU Falchani Lithium Project Puno Ocacasa 4 Indicated Resource Inferred Resource Alternative Case Pit Falchani M Tonnes Grade Contained (Mt) (ppm Li) (Li MT) (Li₂CO3 MT) Indicated* 60.9 Inferred* 260.1 2,954 2,706 0.2 0.7 1.0 3.8 " Scalable 33-year mine life producing battery-grade lithium carbonate Optimization Opportunities Estimated to be the 6th largest hard rock lithium deposit globally Biproducts Cesium, sulphate of potash ("SOP"), potential for additional revenue Initial CapEx reduction by re-scoping for phased expansion approach Infill expansion drilling to reclassify and expand resource Excellent Infrastructure Strong local community support and involvement Near Two Oceans highway, hydro-electric power, abundant water and labour Path to Production Expansion drilling to test new areas Expand and upgrade existing resource Commencement of Pre-Feasibility 1. After-tax, average annual at steady state throughput of 3mtpa, based on a selling price of $12,000/t Li2CO3. 2. Inclusive of G&A, Mining, Processing and Tailings Handling. 3. Includes: Includes EPCM, spares, insurances, owners' team, Process Plant Contingency of 11%, Infrastructure Costs (Road and TSF) inclusive of 15% contingency. 4. Steady State - battery quality Li2CO3. * See IMPORTANT PEA Cautionary Notes on Slide 2. 8#9Falchani - Robust Economics 19.7% $ Stage 1 Project: Base Case Highlights US$1.5 billion US$8,977M LOM US$430M average annual LOM 4.7 Years 18.8% Stage 1 Project: Alternate Case Highlights US$844M 4.6 Years US$3,418M $ LOM US$198M average annual LOM NPV(8%)¹ IRR, after-tax 1 Payback¹ Cash Flow¹ undiscounted after-tax NPV(8%)1 IRR, after-tax 1 Payback¹ undiscounted Cash Flow¹ after-tax US$3,958 US$587M 33 years Production US$4,333 US$587M per tonne 26 years per tonne 23,000tpa Li₂CO3 Y1-Y7 44,000tpa Li₂CO3 Li₂CO3 Y8-Y12 Li₂CO3 OPEX² Initial CAPEX³ Mine Life 85,000tpa Li2CO3 Y13-Y33 Battery Grade4 Production 23,000tpa Li₂CO3 Y1-Y7 41,000tpa Li2CO3 Y8-Y26 OPEX² Initial CAPEX³ Mine Life Battery Grade4 1. After-tax, average annual at steady state throughput of 3mtpa, based on a selling price of $12,000/t Li2CO3. 2. Inclusive of G&A, Mining, Processing and Tailings Handling. 3. Includes: Includes EPCM, spares, insurances, owners' team, Process Plant Contingency of 11%, Infrastructure Costs (Road and TSF) inclusive of 15% contingency. 4. Steady State - battery quality Li2CO3. * See IMPORTANT PEA Cautionary Notes on Slide 2. 9#10Falchani - Global Cost Curve - 2030E Long term supply cost curves for lithium: 2030 LOW FIRST QUARTILE COSTS (TOTAL COST BASIS) AMONGST PEER GROUP 30,000 Note: C1 costs includes mining, processing, reagents, transport, loading & storage, G&A, energy, labor, maintenance other costs where relevant For non-integrated hard-rock operations, the cost of feedstock to lithium carbonate is included Excludes by-product credits, extraordinary items, royalties and interest costs 25,000 Non-Integrated Spodumene C1 Non-Integrated Spodumene C2 Non-Integrated Spodumene C3 Integrated Spodumene C1 Integrated Spodumene C2 Integrated Spodumene C3 Brine Cl Brine C2 Brine C3 Others C1 Others C2 Others C3 eal 2021 terms) 20,000 15,000 7,433 (TLC) O 4,333 (AC) 0 3,958 (BC) 10 0 Hombre Muerto Silver Peak Salar de Olaroz 150,000 300,000 450.000 600,000 750.000 900,000 1,050,000 1,200,000 1,350,000 Greenbushes Sal de Vida Wodgina Salar de Atacama (SQM) Clearwater Bikita Whabouchi Tres Quebradas (30) Cauchari GSL/Ogden Bonnie Claire East Taijnaier, Qinghail Arcadia Falchani PPC Qinghai Clayton Valley (Pure Energy) Hombre Muerto (POSCO) Diablillos/Sal de Los Angeles Falchani Alternate Case Pastos Grandes Salar del Rincon Vulcan Project Hell's Kitchen (Salton Sea) Salton Sea Mariana SW & Lanxess Hombre Muerto West Sonora Zabuye, Tibet West Tijnaier, Qinghai, CITIC Zeus Thacker Pass Centenario Ratones Clayton Valley (Century) Kachi Jadar Yiliping Hombre Muerto North Salar de Atacama (Albemarle) Rhyolite Ridge West Tijnaier, Qinghai, HXR Falchani Base Case Source: Benchmark Mineral Intelligence, Lithium Forecast | Q1 2023, Slide 62 TLC 10 1,500,000 1,650,000 1,800,000 1.950 000 Pilgan Lijiagou Mt Holland Ngungaju Mina do Barroso PAK Mt Marion North Carolina Maricunga San Jose Kaustinen Grota do Cirilo Mibra James Bay Portugal Zulu Rose NAL and Authier 2,100,000 Yichun Others Huaqiao Dagang Xinfang, Shiziling Wolfsberg Baishuidong Kaolin Karibib Fengxin Jinfeng Silicon Zinnwald Georgia Lake Yichun Tantalum (414) Cinovec Pioneer Dome Separation Rapids Manna Ewoyaa Kathleen Valley Jianxiawo Manono Goulamina Bougouni#11Lithium Price Overview - Effect on Falchani Historical Lithium Carbonate Price (CNY/t LCE; Since April 2022) 600000 575000 550000 525000 500000 475000 450000 425000 ➤ Benchmark Mineral Intelligence forecasts price stability and recovery ➤ Contract prices between miners and off takers continue to remain high ➤ Slowdown in Chinese demand now reversing, battery makers re-stocking supplies ➤ Demand continues to outpace supply ➤Long-term macro view remains intact 400000 375000 350000 325000 300000 275000 250000 May Chart Source: tradingeconomics.com 30 Jun Jul Aug Sep Oct Nov Dec 2023 Feb Mar Apr 11 225000 217500 200000#12Falchani - Flowsheet Yields High-Grade Lithium CONVENTIONAL PROCESSING & PRECIPITATION - PRODUCES BATTERY GRADE LITHIUM CARBONATE feed Tank Leach Process Flowsheet coarse milling H₂SO potential recovery of additional products Al, K, Cs, Rb rejection Na₂SO. 10H,O waste acid leach 100% self sufficient power CaCO₂ purification pre-neutralization purification alum crystallisation optional Na,CO, FIX softening primary lithium refining carbonate glauber salt precipitation purification mechanical evaporation Al, F, Fe waste Ca(OH) lithium carbonate Li,CD, 12 Mg, Mn, Ni, P, Zn waste ☐ Highlights Extensive metallurgy and process engineering work supports conventional sulfuric acid tank leaching Crystallization demonstrated low impurity, battery quality Li₂C03 (99.74%+) Lithium-rich sulfate solution offers lithium chemical end-product flexibility & SOP-Cesium by- product potential No need for additional refining & upgrading. By-products being added to flow sheet#13Macusani Uranium – Large-Scale / Low-Cost - Low Cost, LOW CAPITAL INTENSITY, FLEXIBLE URANIUM DEVELOPMENT PROJECT Location and Mineral Resource Macusani Uranium Project Corani Complex Calvario Puncopata PEA Highlights ($) Strong Project Economics 1, 2 " NPV8: US$603M, IRR 40.6% and 1.8 years payback at US$50/lb U308 Corani PERU 75ppm Cut-Off¹ Indicated³ Inferred4 Puno Isivilla Deposit Calvario Real Tantamaco Deposit Quebrada Blanca Deposit " Proposed Processing Plant Chilcuno Chico Deposit Corachapi Complex Tuturumani Deposit 200 Colibri Project Tupuramani Project Plateau Energy Metals Concessions Areas of focus. Areas of focus for near-term drilling Uranium footprint . Drill hole Road Powerline Macusani Uranium Project Sayana Complex 4 km M Tonnes Grade Contained lbs (Mt) (ppm U30g) (Mlbs U3Og) 51.9 72.1 95.2 130.0 248 251 Large Scale. Avg. production ~6Mlbs U3O8 / yr over a 10-year mine life PEA Mine Plan Resource: ~68.8Mlbs U3Og at 289ppm (55% of existing resource) Low Cost: US$17/lb LoM cash cost and Low CapEx: ~US$300M initial capital US$18/lb AISC5 NOTE: -30% of Total Mineral Resources are impacted by Concessions Issue Optimization Opportunities Ability to pre-concentrate / upgrade more than doubles uranium grades Enables incorporation of additional resources into mine plan and strengthens already robust economics Tank leaching for increased recoveries Initial capex reduction by re-scoping to phased expansion approach Near Surface + Leach Kinetics 5 near surface deposits included in the PEA mine plan with low LOM strip ratio Porous volcanic host rock allows for rapid leach and low acid consumption Path to Production Align existing Peruvian Radioactive Export/Transport rules with IAEA for U308 1. See IMPORTANT Cautionary Notes on slide 2 and 3; 2. Using US$50/lb uranium price; 3. At an average grade of 248ppm (75ppm U cut off); 4. At an average grade of 251ppm (75ppm U cut off); 5 Non-IFRS reporting measure. *Refer to the "Macusani Project, Macusani, Peru, NI 43-101 Report - Preliminary Economic Assessment" as detailed on slide 2.. 13#14On The Development Path New discovery area average grade of 2.986 ppm Li Plateau Energy Metals Concessions Areas of focus Target Areas Established geological footprint Interpreted Caldera Drilled platform-previously reported i Drilling platform-planned Li outcrop samples assayed Falchani Lithium Project Inferred Resource NEVADA Infill expansion drilling has expanded resource at TLC Additional water rights secured with ranch purchase Recent buyback of 1% NSR making project fully unencumbered ✓ Ongoing metallurgical work finalizing flow-sheet at TLC ✓ Robust maiden PEA complete • Commencement of pre-feasibility Wide diameter drilling for pilot testing • Macunani Uraniums Project Plateau En Metals PERU ✓ EIA hydrology drilling ✓ Commencement of pre-feasibility • Exploration drilling on target ready areas near Falchani Indicated Resource • Update resource at Falchani • Update Falchani PEA for valuable SOP and Cesium by-products • Spin-out Macusani uranium asset for benefit of shareholders • Drilling at Macusani to expand existing resource • Update Macusani PEA 1 km 14#15Capitalization Share Structure Stock Exchange / Symbol Share Price C$2.75 Basic Shares Outstanding 214.1 M Primevest Warrants Outstanding 22.3 M NewGen Options Outstanding 13.0 M Fully Diluted Shares Outstanding ~255 M Market Capitalization Current Cash Balance Major Shareholders Institutional Analyst Coverage B Riley Securities TSXV: LI NASDAQ: AMLI AusBil Commodity Capital GlobeX Eight Capital Echelon Capital Matthew Key Gabriel Gonzalez Anoop Prihar National Bank Lola Aganga Roth Capital Joe Reagor Management and Board VSA Capital Oliver O'Donnell C$589M - Participates in and supports all financings Retail ~C$41.0M ~60,000+ Shareholders 1. Weighted average exercise price of C$0.86 (low of $0.50 and high of $1.10); 2. Shown on a fully diluted basis Source: Refinitiv, company disclosure 15#16Share Price Performance C$7.00 C$6.00 C$5.00 C$4.00 C$3.00 C$2.00 C$1.00 Indexed to NASDAQ -Indexed to Global X Lithium & Battery Tech ETF RETURNS SINCE JAN 2020 LI: +1,922% INDEX: +130% NASDAQ: +32% Jan-20 Apr-20 Jul-20 Oct-20 Jan-21 Apr-21 Jul-21 Oct-21 Jan-22 Apr-22 Jul-22 Oct-22 Jan-23 Apr-23 MCAP C$10M+ ADTV C$56K (JAN 20' AVG) 116 C$600M+ C$3.8M (L3M AVG)#17Proven Leadership Team, Known Company Builders Board Directors Andrew Bowering | Chairman & Director 30+ years in mining; building multiple teams and operated mineral resource companies. Founder, EVP / Director of Prime Mining; Founder / former Director of Millennial Lithium. Simon Clarke | CEO & Director Management Simon Clarke | CEO & Director Dr. Laurence Stefan, PhD | COO & Director Ted O'Connor, P.Geo, MSc. | EVP, QP • 25+ years in mining & energy, focus in battery metals building companies. Founder, CEO / Director of M2 Cobalt; Founder / Director of Osum Oil Sands; Sr Executive at Jervois Global • • 25+ years in mineral exploration, leading multiple uranium projects from exploration to discovery. Original member of the Falchani discovery team, recent Director at Cameco. . Dr. Laurence Stefan, PhD | COO & Director Founder of Plateau Energy; 30+ years in mining, exploration, development, processing and marketing. Previously at Gold Fields of South Africa and JCI (Pty) Ltd covering 100 projects on 6 continents. Claudia Tornquist, MBA, M. Eng | Independent Director, Audit Chair . . President, CEO and Director at Kodiak Copper Corp since 2017, Director at Silver One Resources Previous EVP at Sandstorm Gold, Director of Kennady Diamonds and GM at Rio Tinto Alex Tsakumis | Director . Public markets specialist, 25+ years in mining ranging from exploration to production. . Former VP of Belcarra Group, Timmins Gold, Orko Silver and Director, Magna Gold, VP of Prime Mining GA Ben Binninger, MBA, BEng | Independent Director . 20+ years in mineral development building companies > $1 billion, Former CCO for Rio Tinto Borax, CEO of Potash Minerals, Millennial Lithium Advisory Board. Taught international business at UCLA. Carsten Korch | Independent Director . 30+ years as a founder, co-founder and board member across variety of sectors; including Asante Gold Based in Lima - Deep relationships across the Peruvian community for over 20 years Philip Gibbs, CMA | CFO Extensive experience with mining companies operating in Canada, Africa and South America specifically including global multi-national and TSX. V listed. Paul Charlish | VP - Finance, Corporate Secretary 30+ years of financial experience, including audit / tax and financial reporting for public companies. Served as CFO and Corporate Secretary on many successful management teams. Ulises Raul Solis Llapa | GM - Peru Operations Mining lawyer; has deep relationships with local communities, regulatory and political authorities. Formerly with Ocana Power, Teck, Andean American, Invicta Gold, and Colibri Group. Graham Ballachey | VP - Engineering • Engineer with a strong science and entrepreneurship background. 3 years on TLC project; 15 years experience in R&D, manufacturing, consulting and management. Debra Struhsacker | Specialist Advisor 30+ years expertise with environmental, public land laws and regulations permitting to mining / minerals. Founder/Director of the Women's Mining Coalition; certified professional geologist. Marc Davis | Director of Communications 30 years experience as a stock market professional and investment media commentator. Founder of Capital Markets Media, a boutique media firm 17#18US Lithium Forecast - A Large Deficit Operating projects (North America) (1) Other projects (North America) (1) kt LCE 600 500 400 300 200 100 Actual 2021 Demand: 46 kt of LCE (1) ― Permitted and financed projects in construction (North America)" -U.S. Battery Market Projected Demand (2) Forecasted 2031 Demand: 604 kt of LCE Forecasted deficit of 119 kt LCE by 2031 Forecasted 2026 Demand: 329 kt of LCE 2021A 2022E 2023E 2024E 2025E 2026E 2027E 2028E 2029E 2030E 2031E Persistent supply gap in North America as demand from the U.S. EV battery sector is expected to grow to 604 kt LCE by 2031 Sources: Benchmark Mineral Intelligence (1) North America Includes Canada, US and Mexico (2) Gwh demand estimates converted into LCE using a 0.8t LCE per GWh factor. 18 . Defense Production Act • Inflation Reduction Act • Streamline Permitting? When President Biden signed the Inflation Reduction Act (IRA) into law, clean energy leaders recognized that this was the largest federal investment in alterative energy and sustainability in American history.#19Lithium Supply Chain is Dominated by China FROM A GLOBAL BATTERY ARMS RACE TO A GLOBAL SUPPLY CHAIN RACE Ni STAGE ONE: Extraction/Mining 1% Ni 5% 31% STAGE TWO: Chemical Processing 1% 10% 68% 0% 0% Co Co 15% <1% 1% 73% 0% 0% C 196 0% 68% 100% <17% 4% Li Li <1% 0% Li 14% 59% 0% 0% Mn Mn 0% 5% 6% 93% Source: Benchmark Gigafactories USA 2022, Dawn of the Energy Storage ERA, P.10 1 Flake Graphite Feedstock, All Anode Nature & Synthetic 19 STAGE THREE: Cathode & Anode Production <1% CELLS <1% 80% <1% 0% 89% STAGE FOUR: Lithium-ion Battery Cell Manufacturing 7% 7% 79%#20Strong Fundamentals Going Forward World-Class Lithium Assets ... two of the largest global resource bases with the ability to expand Strategically Located ... Tier 1 mining jurisdictions with infrastructure and strong community support 888 Proven Management Team proven history of advancing assets and delivering significant returns ** Lithium Momentum Continues government and industry showing long-term commitment ☐ Near Term Value Drivers updated resources and completion of new economic studies Uranium Optionality large, advanced stage Uranium project with low-cost production profile مدا Numerous stock re-rating opportunities 20#21NBCUniversal CMCSA Nasdaq100 -0.31% +0.11 $35.58 PEPSICO PEP Nasdaq100 - 0.40% AAPL -0.31% SBUX 0.41% amazon AMZN 0.59% PayPal PYPL 0.45% +0.68 $172.48 Nasdaq100 +0.47 $151.06 Nasdaq 100 +0.41 $100.71 Nasdaq100 +0.54 $92.79 Nasdaq100 +0.34 ਦੇਸ਼ AMERICAN LITHIUM APPENDIX Nasdaq AMF AMERICAN Nasdaqid NBCUniversal 0.3 $76.27 CMCSA Nasdaq100 +0.11#22Lithium Carbonate Supply and Demand Expectations Production from Currently Operating Assets (kt LCE) WLCE Deficit (kt LCE) -China Lithium Hydroxide Monohydrate 56.5% Price (US$ /kt) Production from Expansions of Already Operating Assets (kt LCE) China Lithium Carbonate 99.5% Price (US$ /kt) -Lithium Demand (kt LCE) Price (US$ /kt) $100.0 $80.0 $60.0 $40.0 $20.0 SPOT $70.9 -1 Mt of new lithium carbonate production (not from already operating assets) will be required by 2030 based on BMO estimates 2,500 2,000 -1 Mt LCE 1,500 2015 2016 2017 2018 2019 2020 2021 2022 E 2023E 2024E 2025E 2026E 2027E 2028E 2029E 2030E Lithium demand is expected to grow exponentially over the next decade and beyond, starting a race for who can meet this demand the quickest Source: Bloomberg, BMO Equity Research, Street Research Note: Supply numbers shown ignore the anticipated supply from new projects coming online between 2022 and 2030 22 1,000 500 Lithium Supply and Demand (kt LCE) (1)#23Lithium Demand Lithium Demand for LIB 43% 2023 (MWh) 0% 0% 5% 7% 45% 786,638 LCE tonnes Volumes represent adjusted demand Source: Benchmark Mineral Intelligence - Lithium Forecast Report - Q1 2023 p44 44% 2025 (MWh) 2030 (MWh) 3% 2% 4% 5% 39% 46% 1% 0% 53% 2% 0% LCO NCA NCM LMO LMNO LFP Other 1,265,591 LCE tonnes 2,607,190 LCE tonnes Benchmark also estimates a need for approximately ~12,000,000 LCE tonnes by 2050 23 23#24$44,000 $40,000 $36,000 $32,000 $28,000 $24,000 $20,000 $16,000 $12,000 $8,000 $4,000 2011 2013 Source: Benchmark Mineral Intelligence - Lithium Forecast Report - Q1 2023 p52 2015 2017 2019 2021 2023 2025 2027 Attractive Industry Outlook Recovering Global Lithium Carbonate Prices Lithium Carbonate, Battery Grade, Global Prevailing Price Base Lithium Hydroxide, Battery Grade, Global Prevailing Price Base 2029 2031 2033 2035 24 4 2037 2039 Mt LCE (weighted) 7.5 Possible Growing Global Demand for Lithium Significant anticipated supply crunch presents opportunity for American Lithium 7.0 Probable 6.5 Highly Probable 6.0 Brownfield expansion 5.5 Care and Maintenance 5.0 Secondary 4.5 Operating 4.0 Tonnes LCE Base Case Demand 3.5 3.0 High Case Demand Constrained Demand 2.5 2.0 1.5 1.0 0.5 0.0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040#25January 2022 loneer Li Americas Century Li 1.1x 1.0x 0.4x Core Lithium Source: Capital IQ and Company Filings 1) Current analyst consensus updated with the Maiden TLC PEA's Base Case NPV of US$3.2B 25 Sigma Current loneer 0.5x 0.5x 0.2x Li Americas Liontown Century Li Peer Positioning - P/NAV Clay Liontown Core Lithium 1.1x 1.1x 0.9x 0.9x Rock Tech Atlantic Critical Elements Patriot 0.8x 0.6x Sigma 1.5x AVZ Minerals Patriot 1.0x 0.8x 0.8x 0.7x 0.6x 0.4x 0.4x 0.4x 0.4x Rock Tech Piedmont AVZ Minerals Frontier Piedmont Critical Elements American lithium trading at the bottom end of the peer set | Clay peers have struggled since 2022 Frontier Li lonic Atlantic Li lonic Hardrock 0.5x Clay: 0.8x Hard Rock: 0.9x Current Consensus Adjusted Consensus (1) Clay: 0.4x 0.2x 0.1x Hard Rock: 0.7x#26Source: Capital IQ and Company Filings January 2022 loneer Li Americas $868 $106 $32 Century Li Rock Tech Core Lithium Current loneer $278 $84 $13 Li Americas Atlantic Century Li $1,055 $985 Liontown $463 Piedmont Core Lithium $1,229 $1,198 $695 Peer Positioning - EV/Resource (US$/t LCE) Clay Hardrock $407 $383 Sigma Sigma Liontown $300 $287 Piedmont Rock Tech American Lithium is trading at a significant discount to peers on EV / Resource | Clay peers have struggled since 2022 26 Critical Elements Frontier $202 $154 AVZ Minerals Patriot 1 $447 $433 $421 $304 $187 $149 Critical Elements Li lonic AVZ Minerals I Atlantic Frontier Patriot Li lonic Clay: $336/t $52 Hard Rock: $470/t Clay: $125/t $25 Hard Rock: $562/t#27Market Sentiment and Strengthening Fundamentals Have Led to Significant Gains Lithium developers and producers have outperformed other battery metal exposed peers over the past 3 years... Copper Producers - Nickel Producers Copper Developers Nickel Developers ...with investors changing how they look at lithium developers on a P/NAV ... Advanced Developers(1) ...and EV/LTM EBITDA multiples basis Producers(2) Cobalt Producers Lithium Developers Cobalt Developers Lithium Producers 1100% 900% 700% Lithium developers have been the preferred equity of investors amongst all battery exposed metals 500% 300% 100% 889% 340% 238% 173% 153% 91% 63% 14% 0.51x +43% 0.74x 28.5x +16% 33.2x (100%) 3-Year Trailing Average1-Year Trailing Average Oct-19 Apr-20 Oct-20 Apr-21 Oct-21 Apr-22 Oct-22 3-Year Trailing Average 1-Year Trailing Average Source: Bloomberg, British Geological Survey, S&P Platts, street research Note: Battery exposed metal companies shown can be provided as requested. Includes Bacanora (prior to acquisition by Ganfeng), Core Lithium, Critical Elements, loneer, Lithium Americas, Millennial Lithium (prior to acquisition by Lithium Americas), Neo Lithium (prior to acquisition by Zijin), Piedmont, Sayona and Sigma Lithium. Includes Albermarle, Alikem, Galaxy (prior to merger with Orocobre), Ganfeng, Livent, Pilbara, SQM and Tiangi. 27 27#28AMERICAN LITHIUM ...Ensuring a sustainable America TSX.V:LI | NASDAQ:AMLI | Frankfurt:51a1 710-1030 W Georgia St, Vancouver, BC 604-428-6128 [email protected] www.americanlithiumcorp.com Follow Us On in