Investor Presentaiton

Falchani - 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

View entire presentation