Jindalee Lithium

Corporate Governance

PFS marks a significant de-risking milestone for McDermitt

Confirms major project – 63-year life; 5-year payback

NPV of US$3.23bn and IRR of 17.9% as per PFS

- Globally significant, generational project confirmed: The PFS for

Jindalee Lithium's (JLL) McDermitt Project has confirmed a compelling

generational project with a potential 63-year life. The project aims to produce

a total of 2.5Mt of valuable lithium carbonate, at competitive cash costs. The

PFS marks a significant milestone for JLL and accelerates the process of

engagement with potential funding partners and the US Government.

- Key aspects of PFS; US$3.23bn NPV: The project shows strong financial

metrics with an NPV of US$3.23bn, based on flat US$24,000/t lithium

carbonate pricing and a 40 year economic evaluation. Post-tax IRR is 17.9%

with a 5-year payback, and strong EBITDA margins of 64–66%. The capex

estimate comes in at US$3.02bn, in line with the neighbouring and more

- Maiden Ore Reserve reflects project's size and potential: The Probable

Ore Reserve contains 2.34Mt of lithium carbonate equivalent (LCE) and

accounts for 79% of forecast production but represents only ~10% of the

current Mineral Resource base, highlighting optionality and potential life