Investor Presentaiton

Australian VANADIUM LIMITED Australian Vanadium Limited (AVL) - An Australian Vanadium Leader 23 A leading Australian vanadium company with a world class asset located in Western Australia, a Tier-1 mining jurisdiction AVL has a major vanadium resource in a market dominated by Russia, China and South Africa Recent merger consolidates two adjoining projects across one orebody, providing opportunity to realise significant synergies Optimised Feasibility Study (OFS) underway, aimed at creating one project, with superior economics Demand for vanadium predicted to grow, driven by need for long duration energy storage to enable decarbonisation Installation of vanadium flow battery (VFB) technology accelerating. Chinese VFB vanadium demand in 2025 is anticipated to be more than 11 times AVL's annual production Corporate Presentation | March 2024 | ASX:AVL 3

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