Investor Presentaiton

44 Key Risks LAKE RESOURCES Access to infrastructure Forecast risk Competition Mining, processing, development, and exploration activities depend, to a significant degree, on adequate infrastructure. In the course of developing the Kachi project, the Company will need to construct and/or update existing infrastructure, which includes permanent water supplies, dewatering, solid waste storage facilities, power, maintenance facilities and logistics services and access roads. Reliable roads, bridges, power sources and water supply are important determinants which affect capital and operating costs. Unusual or infrequent weather phenomena, sabotage, government or other interference in the maintenance or provision of such infrastructure could materially adversely affect the Company's operations, financial condition, and results of operations. Any such issues arising in respect of the supporting infrastructure or on the Company's sites could materially adversely affect the Company's results of operations or financial condition. Furthermore, any failure or unavailability of the Company's operational infrastructure including its development (for example, through equipment failure or disruption to its transportation arrangements) could materially adverse its exploration activities or development of a mine or project. The Company has prepared operating cash costs, future production targets and revenue profiles for its future operations for Phase 1 of the Kachi project. Lake relies on forecasts from 3rd party providers (such as Wood Mackenzie) to form a view of the market and use in planning purposes. There is no guarantee that these 3rd party forecasts are correct. Additionally, these forecasts, although considered to have reasonable grounds, may be adversely affected by a range of factors including: mining, processing and loading equipment failures and unexpected maintenance problems; limited availability or increased costs of mining, processing and loading equipment and parts and other materials from suppliers; mine safety accidents; adverse weather and natural disasters; and a shortage of skilled labour. If any of these other conditions or events occur in the future, they may increase the cost of mining or delay or halt planned commissioning, ramp up and production, which could adversely affect Lake's results of operations or decrease the value of Lake's assets. The Company has in place a framework for the management of operational risks and an insurance program that provides coverage for a number of these operating risks. However, any unforeseen increases in capital or operating costs of the project could have an unexpected adverse impact on Lake future cash flows, profitability, results of operations and financial condition. No assurance can be given that Lake's estimates will be achieved or that Lake will have access to sufficient capital to develop the project due to an increase in capital and operating cost estimates. Investors should have regard to the material assumptions in Lake's DFS released 19 December 2023. Lake will compete with other companies, including major mining companies in Australia and internationally (including in Argentina). Some of these companies will have greater financial and other resources than Lake and, as a result, may be in a better position to compete for future business opportunities. There can be no assurance that Lake can compete effectively with these companies. Shareholder approval risk Where the issue of new shares or other securities requires the approval of the Company's shareholders, there is a risk that the Company's shareholders do not approve the issue, which may result in the in the Company not raising a portion of the proceeds under the capital raising. Lake may need to seek alternative sources of finance to continue developing the Kachi project, which could have an adverse effect on Lake's share price. Also, certain transaction costs in relation to the placement and the Share Purchase Plan, such as legal and advisory fees, will still be payable by Lake.

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