Investor Presentaiton

42 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.

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