Paradox Lithium Project Update

For personal use only PARADOX PROJECT - COMPELLING POSITION AMONGST DLE PEERS ✓ Advanced Development Stage - DFS Complete ✓ Proven Technology Partner Production/Construction ✓ Bromine & Boron co-product upside ✓ Tier 1 Location ANSON RESOURCES Company Livent Lanke Lithium (Minmetals) Zangge Lithium Jintai Lithium Tibet National Yiwei Lithium (EVE Energy) Eramet/ Anson Tsingshan Resources Vulcan Energy Rio Tinto Standard Lake Lithium Resources Controlled Compass Thermal Minerals Project Hombre Yiliping Lake Chalkhan Lake Mahai Lake Qinghai Qinghai Salt Lake Centenario Paradox Lithium Zero Carbon lithium 'Rincon Salar Smackover Kachi Salton Sea Ogden, Great Salt lake Country/ S&P LT Rating Argentina China CCC+ A+ China A+ China A+ China A+ China A+ Argentina USA Germany Argentina CCC+ AA+ rating AAA CCC+ USA AA+ Argentina CCC+ USA USA AA+ AA+ DLE Provider Proprietary Sunresin Sunresin Sunresin Sunresin Sunresin Proprietary Sunresin Proprietary Undisclosed Proprietary Lilac Lilac Energy Source Minerals Project/Study Stage Production Target (LCE) Co-Product Producing Producing Producing Producing Commissioning Construction Construction DFS DFS Phase 1 DFS/FEED PFS PFS PFS PFS 50ktpa 5ktpa 10ktpa 7ktpa 8.8ktpa¹ 10ktpa 24ktpa 13ktpa 21.12ktpa¹ 50ktpa 22.5ktpa 25.5ktpa³ 25ktpa 11ktpa Bromine, Boron4 HCI, NaOCI Salt, SOP Opex (US$/t LCE) n/a n/a n/a n/a n/a n/a 3,500 4,368 4,6212 2,968 4,319 4,178 n/a Note - Based on publicly available information, refer to appendix for sources. For projects which are not producing or in construction, the production targets are based on most recent technical study, such as a feasibility study. Future expansions and Phase 2 production targets are excluded from this analysis. 1- EVE Energy 10ktpa Lithium Hydroxide and Vulcan Phase 1 DFS production target of 24ktpa Lithium Hydroxide, converted to Lithium Carbonate Equivalent using conversion ratio of 0.88. 2 - Opex converted from Euro to USD using 1.06 EUR:USD FX rate, as of 3 March 2023. 3 - Lake Resources released Preliminary Feasibility Study on 17 March 2021 with 25.5ktpa production target, subsequently Lake has announced intention to target 50ktpa LCE in the DFS, targeted for release in Q1 2023. 4 - Bromine and Boron co-products were not assessed in Anson's Paradox Lithium Project Definitive Feasibility Study. Anson Resources | ASX: ASN 4,400 11

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