Announcement PDF Jindalee signs LOI to list McDermitt in US ASX Code Investor Presentation September 2025 OTCQX JLL JNDAF jindaleelithium.com Warning Statement This Presentation has been prepared by Jindalee Lithium Limited (“Jindalee,” “Company” or “JLL”) and is authorized for release by its Chief Executive Officer, Mr. Ian Rodger. This presentation provides general background information about Jindalee’s activities. That information is current at the date of this presentation and remains subject to change without notice. Certain information in this presentation has been derived from third parties and though Jindalee has no reason to believe that it is not accurate, reliable, or complete, it has not been independently audited or verified by Jindalee. Except to the extent required by law, Jindalee makes no representations or warranty as to the accuracy, reliability, or completeness of information in this document and does not take responsibility for updating any information or correcting any errors or omissions which may become apparent after this presentation is released. This presentation is for information purposes only and is a summary and does not purport to be complete nor does it contain all the information which would be required in, nor is it, a prospectus, product disclosure statement, or other disclosure document under Australian law or any other law (and will not be lodged with the Australian Securities and Investments Commission or any foreign regulator) and is not, and does not constitute, an invitation or offer of securities for subscription, purchase, or sale in any jurisdiction. In particular, this presentation does not constitute an invitation or offer of securities for subscription, purchase, or sale in the United States or any other jurisdiction in which such an offer would be illegal. The securities referred to in this presentation have not been and will not be registered under the U.S. Securities Act of 1933 as amended or the securities laws of any state or other jurisdiction of the United States and may not be offered or sold, directly or indirectly in the United States. Pre-Feasibility Study. The Pre-Feasibility Study, including the production target and the forecast financial information derived from the production target, referred to in this presentation (PFS) was first released to the ASX on 19 November 2024 (PFS Announcement). This presentation includes summary excerpts from the PFS and does not purport to be all-inclusive or complete and should be read together with the PFS Announcement. The Company confirms that all material assumptions and technical parameters underpinning the production target and the forecast financial information derived from the production target, in the PFS Announcement continue to apply and have not materially changed. Shareholders and prospective investors should be aware that the PFS and this presentation does not include any forecast financial information in respect of the period after the initial 40 years of the Processing Schedule (post single commission and ramp up year), as Jindalee cannot, at this stage, provide forecast financial information for that subsequent period. All amounts are in US$ unless stated otherwise. This presentation contains certain forward-looking statements, including forecast financial information. Forward-looking statements include but are not limited to statements concerning Jindalee’s current expectations, estimates, and projections about the industry in which Jindalee operates and beliefs and assumptions regarding Jindalee’s future performance. When used in this document, the words such as “anticipate,” “could,” “plan,” “estimate,” “expects,” “seeks,” “intends,” “may,” “potential,” “should,” and similar expressions are forward-looking statements. Although Jindalee believes that that it has a reasonable basis for those forward looking statements and forecast financial information, including the use of a flat US$24,000/t lithium carbonate price in the PFS, the production target set out in this presentation and the financial information based on it , such statements are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the control of Jindalee and no assurance can be given that actual results will be consistent with these forwardlooking statements. The basis for that conclusion is contained throughout the PFS Announcement and all material assumptions, including the JORC modifying factors, upon which the forward looking statements and forecast financial information are based, are disclosed in the PFS Announcement and this presentation should be read together with the PFS Announcement. To achieve the range of outcomes indicated in the PFS, the PFS estimates that funding in the order of $3.02B in construction capital will be required. Shareholders and investors should be aware that there is no certainty that Jindalee will be able to raise the required funding when needed and it is possible that such funding may only be available on terms that may be highly dilutive or otherwise adversely affect Jindalee shareholders’ exposure to the McDermitt Lithium Project (Project) economics. Specifically, as outlined in the PFS Announcement, Jindalee intends to pursue potential third party partnerships (with parties who have the potential to be joint venture partners in the Project) to advance the Project and may pursue other value realisation strategies such as a sale or partial sale of the Project or underlying future commodity streams. If it does so, such arrangements may materially reduce Jindalee’s proportionate ownership of the Project and/ or adversely affect Jindalee shareholders’ exposure to the Project economics. exploration programs and budgets based upon the results of exploration, future prices of minerals resources; grade or recovery rates; accidents, labour disputes, and other risks of the mining industry; delays in obtaining government approvals or financing or in the completion of development or construction activities; movements in the share price of investments and the timing and proceeds realized on future disposals of investments, force majeure events, as well as those factors detailed in the PFS Announcement or, from time to time, in the Company’s interim and annual financial statements and reports, all of which are available for review on ASX at asx.com.au and OTC Markets at otcmarkets.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forwardlooking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. To the extent permitted by law, Jindalee and its officers, employees, related bodies corporate and agents disclaim all liability, direct, indirect or consequential (and whether or not arising out of the negligence, default, or lack of care of Jindalee and/or any of its agents) for any loss or damage suffered by a recipient or other persons out of, or in connection with, any use or reliance on this presentation or information. This presentation does not constitute investment advice and has been prepared without taking into account any investor's particular investment objectives, financial circumstances or particular needs and the opinions and recommendations in this presentations are not intended to represent recommendations of particular investments to particular persons. You should seek professional advice when deciding if an investment is appropriate. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments. Please refer to Appendix 5 for details of the Competent Persons Statement’s relating to the Mineral Resources and Ore Reserves contained in this Presentation. Statements in this presentation regarding the Company’s business, which are not historical facts, are forward-looking statements that involve risks and uncertainties. These include, among others, risks and uncertainties related to Mineral Resource and Ore Reserve estimates, production targets, forecast financial information, lithium carbonate prices, capital and operating costs, risks related to results of current or planned exploration activities, changes in market conditions, obtaining appropriate approvals to undertake exploration activities in the portfolio of projects, changes in 2 Presenters Ian Rodger Lindsay Dudfield Managing Director & Chief Executive Officer Executive Director Mr Ian Rodger is a mining executive with over 15 years of experience in technical, corporate finance, and project leadership roles. He worked on two major greenfield mine developments at Rio Tinto before transitioning to corporate finance at RFC Ambrian, where he held senior roles in London and Sydney. As Project Director at OZ Minerals, he helped advance West Musgrave Nickel Copper Project, leading into OZ Minerals’ A$9.6B acquisition by BHP. Mr Lindsay Dudfield is a geologist with over 40 years’ experience in multicommodity exploration. Lindsay has been responsible for managing Jindalee since inception, guiding the Company through the advancement of several projects across various commodities and jurisdictions. He is also a Non-Executive Director of several ASX listed explorers spun-out of Jindalee. Experiences 3 Investor Presentation Experiences Presenters Company Overview Corporate snapshot(!) Share price (ASX:JLL, OTCQX:JNDAF) Share Capital (ASX:JLL, OTCQX:JNDAF) 79.9m A$/share Share Price A$0.40 1.20 Options (from 37c to $5.00) 19.8m Market Capitalisation A$31.9m 1.00 Cash(2) A$4.0m Investments A$0.6m Convertible Note A$2.3m Enterprise Value A$29.6m 0.80 0.60 Major shareholders(1) Lindsay Dudfield & associated entities 23.3 % Mark Scott entities 8.9 % Mercer Street Global Opportunity Fund 3.7 % Kevrex Pty Ltd 3.1 % Elmix Pty Ltd 2.8 % 0.40 0.20 0.00 Jan-24 (1) As at 2 September 2025 unless noted otherwise (2) Cash as at 30 June 2025 4 Investor Presentation Company Overview Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Positioned to Unlock Value from McDermitt Oregon Key investment highlights: View in Vrify McDermitt: Strategic asset supporting America’s critical mineral needs ✓ One of the largest lithium resources in the US @ 21.5Mt LCE(1). ✓ PFS confirms 60+ year, large-scale, low-cost production in the bottom half of the global cost curve(2). ✓ Potential for material co-products including Magnesium(2). Leveraged to Lithium Market Recovery Underway ✓ Market emerging from multi-year lows; lithium carbonate up ~16% in August 2025(3). ✓ Analyst sentiment turning bullish as supply risks grow and demand remains robust. ✓ McDermitt is one of the few advanced US projects positioned to capture the upturn. Strong US Government Engagement and Support ✓ One of 10 initial FAST-41 transparency projects, fast-tracking federal permitting and coordination(4). Thacker Pass Project 66.1Mt LCE(6) ✓ Currently partnering with the US Department of Energy via a R&D Agreement(5). ✓ US Government ramping up funding for domestic critical minerals. Compelling Catalysts Ahead Nevada ✓ Special Purpose Acquisition Company (SPAC) transaction provides US$500m look through equity valuation for McDermitt and pathway to US listing and funding McDermitt through feasibility ✓ Other material catalysts include permitting milestones (EPO), potential US government grant funding and strategic partnerships. (1) JLL ASX release 27/02/2023 “Resource at McDermitt increases to 21.5 Mt LCE” (2) JLL ASX release 19/11/2024 “McDermitt PFS - Multi-Decade Source of US Lithium Carbonate.” (PFS Announcement) (3) Chinese Battery-Grade Lithium Carbonate Price (USD/mt) as at 27 August 2025. Source SMM (4) JLL ASX release 22/04/2025 “McDermitt Project Fast-Tracked Under U.S. FAST-41 Initiative” (5) JLL ASX release 16/09/2024 “Jindalee Secures Strategic Agreement with US Department of Energy” (6) See Appendix 2 for source and detailed breakdown of resource estimate 21.5Mt LCE 66% 63 year Contained resource(1) EBITDA margin over the first 10 years(2) Project life(2) McDermitt - Empowering American manufacturing and energy security(1) McDermitt is one of the largest lithium deposits in the US and of global significance. McDermitt is ideally situated to plug in to the growing US battery manufacturing industry. $3.23B(2) 17.9% $3.02B $8,080/t LCE(2,6) Post Tax(3) NPV (8%) Post Tax(3) IRR CAPEX Inc. $495M contingency Bottom half of cost curve(9) 47,500 tpa(4) +40 Years(5) 5 Years 2.34 Mt LCE(6,7) Lithium Carbonate for first decade Economic Evaluation Period, total project life of 63 years Project payback from first production(1) Ore Reserve (~10% of Resource) Robust returns Perfect Timing Made in the US The Opportunity Forecast EBITDA margins of +60%, generating post-tax FCF of $6.6 B over the initial decade alone(3). Cash flows resilient through price cycles with ~17% pre-tax net operating cashflow margins (incl. sustaining capital) at current spot prices.(8) Targeted permitting and development timeline sees first Lithium Carbonate production aligning with forecast substantial supply deficits in the early 2030s.(9) Tax credits provide a powerful stimulus for domestic production of lithium chemicals. Battery value chain customers also incentivised to source domestically from projects such as McDermitt. McDermitt presents a rare opportunity for counter-cyclic investors and partners looking to position in a commodity poised for immense growth in the coming decade. (1) JLL ASX release 19/11/2024 “McDermitt PFS - Multi-Decade Source of US Lithium Carbonate.” (PFS Announcement) (2) All $ values in USD unless otherwise noted. (3) At $24,000/t lithium carbonate price, post tax values include estimated value of 45X tax incentives (refer to PFS Announcement). (4) First 10 years average post 12-month commissioning and ramp up. (5) PFS economic evaluation period consists of construction, commissioning and ramp-up, followed by first 40 full years of production (Economic Evaluation Period). (6) Lithium Carbonate Equivalent, being the mass of lithium carbonate containing the same mass of lithium metal as the Ore Reserve. Unit operating cost quoted on C1 basis. (7) Maiden Probable Ore Reserve (JORC 2012) (refer to PFS Announcement). (8) US$10,866/t from Shanghai Metal Markets Lithium Carbonate Index (Battery Grade), delivered to China, VAT inclusive. As at 8 October 2024. (9) Benchmark Mineral Intelligence Q3 2024 dataset. 6 Investor Presentation PFS Highlights McDermitt Recognised as a FAST-41 Transparency Project One of the First 10 Mining Projects Initially Added as FAST-41 Transparency Projects What is FAST-41 A US federal framework streamlining permitting for projects of national strategic importance. ✓ Improves transparency, predictability, and interagency coordination ✓ Projects listed on the Federal Permitting Dashboard ✓ Promotes faster decisions, reduces delays Why it matters for McDermitt: • One of first 10 mining/resource projects initially designated Project Operator Market Cap (US$M) Resolution Copper $104,607 Caldwell Canyon Mine $31,428 Silver Peak Lithium $9,361 Libby Project $5,898 Warrior Met Coal Mines $2,996 Stibnite Gold $2,009 SW Akansas Lithium $580 McDermitt Lithium $21 Lisbon Valley Copper Private Michigan Potash Private • One of only 5 Lithium related projects designated(1) • Underscores McDermitt’s potential role in US critical minerals strategy • Reinforces confidence in permitting pathway and strategic relevance • Supports advancement of Exploration Plan of Operations Sources: • Market Capitalisation data from S&P CapIQ Pro 2 September 2025 • First 10 Transparency Projects sourced from here: Link (1) Current FAST-41 Transparency Projects, viewed 27 August 2025 7 Investor Presentation A FAST-41 Transparency Project Transaction Overview(1) US$500M equity valuation and clear funding pathway to advance McDermitt Figure1: Illustrative Change to Corporate Structure Transaction Overview • Non-binding Letter of Intent (LOI) signed with Constellation Acquisition Corp. I (Constellation), a US SPAC sponsored by Antarctica Capital. Current Pro Forma • Transaction involves a proposed merger of HiTech Minerals, Inc. with Constellation to form NewCo, assigning an equity value of US$500M to Jindalee’s US assets. • Transaction contemplates capital raise of US$20-30M, with US$4M to be Jindalee Lithium Limited Listed on ASX Jindalee Lithium Limited Listed on ASX committed by affiliates of Antarctica Capital upon signing of the binding Business Combination Agreement (BCA). • Execution of BCA targeted for Q4 2025, with completion of Transaction targeted 100% for 1H 2026, subject to customary closing conditions, including but not limited to obtaining Jindalee and Constellation shareholder approvals, regulatory consents, and satisfaction of ASX and US listing requirements. HiTech Minerals Inc. (HiTech) Strategic Rationale • Create a US-listed vehicle with direct exposure to McDermitt Project, one of the 80%+ “NewCo” Listed on Nasdaq or NYSE US$20-30M Capital Raise largest lithium resources in the United States. • Provide significant funding to materially advance the McDermitt Feasibility Study • Better position the McDermitt Project to capitalise on strong US government 100% 100% support for domestic critical minerals supply (~US$11.8B in the "One Big Beautiful Bill" signed July 2025(2)). • Provide long-term access to and enhanced visibility across US capital markets for McDermitt Project McDermitt Project future development capital requirements. • Provide ongoing exposure to the McDermitt Project for Jindalee shareholders through majority shareholding of NewCo, with majority Jindalee representation on NewCo’s Board and senior management. 8 Investor Presentation Transaction Overview (1) All information contained within JLL ASX release 09 September 2025 “Jindalee signs non-binding LOI to list McDermitt on a US national exchange.” (2) H.R.1 - One Big Beautiful Bill Act, viewed 27 August 2025. SPAC Sponsor/New Investors Lithium Market Outlook: Turning the Corner Forecast deficits to support higher prices LCE (Kt) Analyst Sentiment is Flipping 150 Major banks like UBS are upgrading lithium price forecasts and equities—moving from bearish to bullish as supply risks mount. 100 Battery Grade Li Carbonate CIF Asia (US$/t) Forecast Deficits Deficits 50 40 Forecast 50 30 Surplus China Supply Disruption Is Real Investigations into mining rights have triggered suspensions at key Chinese lithium operations, removing up to 15% of global supply(1). - -50 Demand for Lithium Keeps Climbing Electric Vehicle (EV) sales up 28%(2) and Battery Energy Storage System (BESS) deployments up 54%(3) YTD to June 2025. Analyst forecast total battery demand to increase ~3x by 2030 v 2024 (4). 20 Deficit 10 -100 2020 2021 2022 2023 2024 Market Balance (LHS) 2025 2026 2027 2028 2029 2030 2031 Lithium Carbonate Price (RHS) Source: SC Insights August 2025 Price Recovery Underway Since hitting four year low in June 2025, Lithium carbonate prices in China have jumped 16% in August 2025(5) alone, with analysts(6)(7) recently increasing price forecasts. Tightening Market Ahead China Lithium: More disruption? More upside? Game on: Rapid bounce sets up for next Li cycle August 26, 2025 July 28, 2025 UBS expect supply deficits by 2026 in upside scenario - driving stronger pricing and earnings upside(7). (1) “Total of 240kt LCE of China lithium supply (~15% of 2025E global lithium supply) as being at risk”, sourced from “China Lithium” UBS Global Research 26 August 2025. (2) https://rhomotion.com/news/global-ev-sales-up-28-in-2025-2/ (3) https://www.energy-storage.news/global-bess-deployments-in-h1-2025-up-54/ (4) UBS Lithium Supply – Demand Model (base case), Rechargeable Li-ion battery demand, sourced from “China Lithium” UBS Global Research 26 August 2025. (5) Chinese Battery-Grade Lithium Carbonate Price (USD/mt) as at 27 August 2025. Source SMM (6) Sourced from “Lithium: Demand’s in charge now”, Canaccord Genuity Global Equity Research (7) Sourced from “China Lithium” UBS Global Research 26 August 2025. 9 Investor Presentation Lithium Market Lithium: Demand’s in charge now July 25, 2025 Lithium Sector Update: Chinese Battery Production Soars July 18, 2025 Major milestones and catalysts for the year ahead Q3 2025 10 Q4 2025 H1 2026 Transaction complete Transaction Due Diligence and BCA negotiation Approvals Complete Exploration Plan of Operation (EPO) approvals for multi-year drilling program McDermitt Project Investigate potential for value creation from Magnesium and other critical mineral by-products Government Funding Potential Department of Defense (DoD) grant application award (to co-fund next stage of work)(1) Investor Presentation Pathway Forward Binding BCA execution NewCo trading on NASDAQ or NYSE Commence Feasibility Study Preparation of large infill exploration drilling program to commence H2 2026 (1) Refer to JLL ASX release 23/09/2024 “US Government Funding Update”. Thank you Further information Ian Rodger enquiry@jindaleelithium.com Managing Director & Chief Executive Officer +61 8 9321 7550 jindaleelithium.com Board and management team with proven success in creating value for shareholders 12 Wayne Zekulich Ian Rodger Lindsay Dudfield Non-Executive Chair Managing Director & Chief Executive Officer Executive Director Mr Wayne Zekulich was appointed to the Jindalee Board as Chair on 1 February 2024. Wayne is a Consultant and NonExecutive Director who has substantial experience in advising, structuring and financing transactions in the infrastructure and resources sectors. Wayne is currently Chair of ASX listed gold miner Pantoro Limited (ASX:PNR). Mr Ian Rodger is a mining executive with over 15 years of experience in technical, corporate finance, and project leadership roles. He worked on two major greenfield mine developments at Rio Tinto before transitioning to corporate finance at RFC Ambrian, where he held senior roles in London and Sydney. As Project Director at Oz Minerals, he helped advance West Musgrave Nickel Copper Project, leading into Oz Minerals’ A$9.6B acquisition by BHP. Mr Lindsay Dudfield is a geologist with over 40 years’ experience in multicommodity exploration. Lindsay has been responsible for managing Jindalee since inception, guiding the Company through the advancement of several projects across various commodities and jurisdictions. He is also a Non-Executive Director of several ASX listed mineral exploration companies. Darren Wates Paul Brown Todd Clewett Non-Executive Director Non-Executive Director Senior Advisor – External Affairs Mr Darren Wates is a corporate lawyer with extensive experience in equity capital markets, M&A, resources, project acquisitions / divestments and corporate. Darren was significantly involved in the development, joint venture partnering and eventual sale of the Mt Marion Lithium Project in roles with ASX listed company Neometals Ltd (ASX:NMT). Mr Paul Brown has over 23 years’ experience in the mining industry, most recently with Mineral Resources (ASX:MIN) where he was Chief Executive – Lithium. He has a strong track record in project/studies management and mine planning and management. Paul is currently Chief Executive Officer of Core Lithium Ltd (ASX:CXO). Investor Presentation Jindalee Board and Management Mr Todd Clewett is a senior executive with over 20 years’ experience in government relations, external affairs, and strategic communications across the mining, energy, and infrastructure sectors. He has held global leadership roles with Newmont, Fortescue, First Quantum, and Rio Tinto, leading external engagement on major projects in the US, LATAM, Africa, and Asia. Seasoned VP Appointed to Fast-Track Project Advancement Matt Haas Vice President – Studies and Development Matt is a highly qualified international mining engineer with over 20 years of comprehensive experience spanning four continents and multiple commodities. He started with Newmont in Nevada before transferring to the operations in Ghana where he both supported the Ahafo and Akyem operations and led the strategic optimization of multiple major expansion projects. Following Newmont Matt held senior technical and study leadership roles with Goldcorp in Argentina, Barrick in Nevada, Ma’aden in Saudi Arabia, and most recently with Gold Fields and Glencore in Ghana and the DRC. Matt has made major contributions in both leading technical and operational teams to significantly improved performance, and he places a specific focus on identifying and unlocking strategic value in studies and operations. His focus on McDermitt will be advancement of an overall study strategy that allows for a streamlined permitting and project development path, fully considers local and environmental concerns, and maximizes long-term shared value creation for all stakeholders. Matt holds both a Bachelor and Masters of Mining Engineering from Montana Tech. Experiences 13 Investor Presentation VP Study Stable mining profile with early access to ore(1) ● Mining will be by conventional truck and shovel methods, with free-digging ore (no blasting) ● Ore at surface limits pre-production mining / stripping expense ● Mining stable at circa 20Mt p.a. and a life of mine strip ratio of 1.3 ● Accelerated mining schedule builds strategic ore stockpiles: ○ An investment in production stability ○ Lower grade ores stockpiled for later processing (1) All information contained within JLL ASX release 19/11/2024 “McDermitt PFS - Multi-Decade Source of US Lithium Carbonate.” (PFS Announcement). 14 Investor Presentation PFS Highlights Processing route validated through testwork(1) Our processing flowsheet consists of standard technology used throughout industry and has been validated through testwork supervised by Fluor Corporation. McDermitt will be a fully integrated operation producing batterygrade Lithium Carbonate for sale to US customers. Designed maximum annual production capacity of 47.5ktpa Lithium Carbonate (limited by selected acid plant capacity). Optimization opportunities will be studied under the recently announced cooperative research agreement with the US Department of Energy (DoE) including(2): • By-product potential • Ore upgrading • Water use optimization (1) All information contained within JLL ASX release 19/11/2024 “McDermitt PFS - Multi-Decade Source of US Lithium Carbonate.” (PFS Announcement). (2) JLL ASX release 16/09/2024 “Jindalee Secures Strategic Agreement with US Department of Energy” 15 Investor Presentation PFS Highlights McDermitt: A highly competitive source of lithium chemicals for the US Market ● McDermitt to be in the bottom half of the global cost curve on LCE basis ● Aligned to US energy security goals, McDermitt is expected to provide a large, long life domestic source of lithium chemicals at highly competitive C1 operating cost relative to North American peers: North American Brines North American Direct Lithium Extraction (DLE) ○ Comparable to North American DLE projects (mid-range) North American Spodumene Integrated ○ At lower end of the range of forecasts for North American integrated North American Spodumene Non-Integrated spodumene producers ● Also cost competitive against Australian integrated spodumene producers Australian Spodumene Integrated ● Lower cost supply (first quartile) is primarily from South American brine operations Rest of World (RoW) Production Source: All Cost curve data from Benchmark Minerals Intelligence 2030 C1 cost curve Q3 2024 dataset (incl. cost, production and project details). McDermitt is not included in cost curve and location is illustrated via text only, based on McDermitt PFS outputs 16 Investor Presentation Supporting Data McDermitt comparison with Thacker Pass Joint Venture (62%/38%) Category McDermitt PFS (November 2024)IV,V Thacker Pass (Updated Project Plan January 2025)I,II,III EBITDA Margin 64% 65% Operating Cash Cost US$8,673/t (Defined as C1 cash costs) US$8,039/t NPV8% (post tax) US$3,229M US$8,691M IRR (post tax) 17.9% 20.0% Development capital US$3,021m (inclusive of US$495m contingency) Phase 1: US$2,930m LOM: US$12,327m Average lithium Process Feed grade 1,967 ppm 2,538 ppm Beneficiation separation size / course gangue rejects 125 microns 75 microns Average lithium recovery 84.4% 80.4% Average Lithium Carbonate production 43.8ktpa (47.5ktpa capacity) Phase 1 Capacity: 40ktpa 135ktpa (max capacity 160ktpa) Lithium price assumed US$24,000/t US$24,000/t Project Life 63 years 85 Reserves and Resource Reserves: 2.34 Mt of contained LCE @ 1,340ppm Li Resource: 21.5 Mt of contained LCEVI @ 1,751ppm Li Reserves: 14.3 Mt of contained LCE @ 3,180ppm Li Resource: 66.1 Mt of contained LCEVI@ 2,175 ppm Li Location Oregon Nevada Engineering Consultants Fluor Corporation and Cube Consulting SGS, Sawtooth, NewFields, Bechtel and EXP Other Operational Financial Owners Notes: I. Lithium Americas’ recent update outlines a phased expansion plan across five stages, targeting a total capacity of 160 ktpa of lithium carbonate. II. Phase 1, currently under development, has a planned capacity of 40ktpa of lithium carbonate, requiring development capital of US$2,930m. The total development capital across all phases is US$12,327m. III. Lithium Americas reports financial, cos