Summary of Liontown Resources (LINR.F) 2025 Conference Company Overview - **Company**: Liontown Resources - **CEO**: Tony Ataviano, who has experience with BHP and Rio Tinto, joined Liontown in 2021 and has overseen significant developments including the DFS for the Kathleen Valley Lithium Project and foundational offtake agreements [2][4] Industry Insights - **Market Dynamics**: The company is observing government interventions in China aimed at controlling overcapacity, which could impact the lithium market [5] - **Global Demand**: There is a notable growth in lithium demand from regions outside North America, particularly Brazil and Mexico, with an annual growth rate exceeding 20% [6][7] - **Energy Storage**: By 2029, it is predicted that one in every four lithium units will be directed towards energy storage, indicating underestimated demand from this sector [8] Operational Highlights - **Production Achievements**: - First shipment to LG in September 2024 - Production commenced on schedule in April 2025 - Achieved 321,000 tons of spodumene production in eleven months, with 280,000 tons sold [9][14] - Operating costs were reported at AUD 8.00 per ton, with a cash balance of AUD 156 million at year-end [16] - **Processing Plant Performance**: - The processing plant achieved over 89% availability during ramp-up, with some quarters reaching 90-93% [15] - The plant has demonstrated adaptability to varying mill feed quality, producing saleable product with contamination levels above the design limit [23][24] Financial Metrics - **Revenue**: The company reported AUD 300 million in revenue for its first operational year [16] - **Cost Management**: Implemented a business optimization program that resulted in AUD 112 million in savings and deferred costs [9] Future Plans - **Production Goals**: Aiming to ramp up production to 1.5 million tons per annum, with a transition to 100% underground mill feed by Q1 FY27 [22][29] - **Expansion Potential**: The company has low capital intensity for future expansions and maintains a flexible debt structure aligned with customer interests [31][32] Environmental, Social, and Governance (ESG) Initiatives - **Renewable Energy**: The company operates Australia's largest hybrid renewable power station, significantly reducing carbon emissions and enhancing operational efficiency [11][12] - **Community Engagement**: Strong relationships with local communities, including significant contracts awarded to Aboriginal groups [13] Strategic Partnerships - **Key Partnerships**: Collaborations with LG Energy Solution and Sumitomo are highlighted as strategic advantages for future growth [34] Conclusion - **Market Position**: Liontown Resources is well-positioned for a recovery in lithium prices, with a high-quality deposit at Kathleen Valley and a robust operational framework to support future growth [33]

Transitioning Underground 2025 Diggers and Dealers 5 August 2025 Tony Ottaviano Managing Director | CEO ASX: LTR | ltresources.com.au For personal use only Important Information IMPORANT INFORMATION NOTICE AND DISCLAIMERS This investor presentation (Presentation) is dated 5 August 2025 and has been prepared by Liontown Resources Limited (ACN 118 153 825) (ASX: LTR) (Liontown or the Company). SUMMARY INFORMATION This Presentation contains summary information about the current activities of Liontown and its s ...

Company Performance & Growth - Pilbara Minerals Limited (PLS) achieved record FY25 production of 755kt[4] - PLS has ~$1 billion self-funded growth cycle complete and $1.6 billion liquidity[5] - Pilgangoora Mineral Resource updated, delivering a 23% increase in contained lithium[24, 50] - Pilgangoora Resource further grown 10% to 446Mt with grade improvement to 1.28%[25] Strategic Positioning & Diversification - PLS is geographically and strategically diversified with exposure to established and ex-China supply chains[6, 7] - PLS acquired the Colina Project in Brazil, diversifying its asset portfolio[23] - PLS has an 18% interest in a lithium hydroxide (LH) facility in Gwangyang, South Korea, with a nameplate capacity of 43ktpa[32] Market & Industry Trends - The lithium industry is evolving, shaped by volatility, emerging maturity, and rising end-use demand[9] - Clean energy investment in 2025 is projected at US$2.2 trillion, with solar investment at US$450 billion[17] - EV sales grew by 26% from 2023 to 2024, and BESS sales grew by 51%[17] Future Priorities - PLS' FY26 priorities include operational excellence, disciplined cost control, and capital efficiency[36]

Summary of Key Points from the Conference Call Industry Overview - **Industry Focus**: The conference call primarily discusses the **China Battery & Materials** industry, particularly in relation to electric vehicle (EV) batteries and energy storage systems (ESS) [2][4]. Core Insights and Arguments - **Production Growth**: - Production growth in August is expected to slow, but remains above expectations with a year-to-date growth of over **50% year-on-year** from the top six suppliers [4]. - A **4% month-on-month** increase in production was noted in August, following a **3% month-on-month** increase in July, indicating a recovery trend [4]. - **Demand Concerns**: - Initial concerns about a collapse in ESS demand due to regulatory changes and inventory destocking in the US have been alleviated by better-than-expected production plans [4]. - The demand for EVs in China increased by **33% in the first half of 2025**, with significant exports to the EU [4]. - **Battery Exports**: - ESS battery shipments to the US, EU, and other regions increased by approximately **150-210% year-on-year** in the first half of 2025 [4]. - A notable increase in EU residential ESS demand was observed, with a **220% year-on-year** growth in the first half of 2025 [4]. - **Company-Specific Updates**: - **BYD**: Battery production has stabilized after previous cuts due to high inventory levels [4]. - **CATL**: Adjusted its lithium iron phosphate (LFP) battery production plan down by **10%** in July to focus on faster charging applications [4]. - **Lithium Production**: - Expected to increase by **6kt month-on-month** in August, with a projected **8% month-on-month** growth in total lithium output [4]. - The recent price rally in lithium is viewed as speculative rather than based on fundamental changes, maintaining a bearish outlook on lithium prices [4]. - **Battery Prices**: - EV battery prices remained stable in July after a decline in the second quarter of 2025, while ESS battery prices have shown signs of recovery due to strong demand [5]. - LFP cathode prices increased by **8%**, driven by a **19% rise** in lithium carbonate prices [5]. - **Capacity Utilization**: - Industry capacity utilization has improved, reaching over **80%** in the second half of 2024, leading to a new round of capital expenditure (capex) expansion [5]. - New orders for battery equipment are expected to increase by over **45%** in 2025 compared to a decline in 2023-2024 [5]. Additional Important Insights - **Investment Recommendations**: - CATL is rated as "Overweight," while other battery and material companies are rated as "Neutral" or "Underweight" [5]. - **Upcoming Financial Reports**: - CATL is expected to report its second-quarter results on July 30, with anticipated sales volume of **140-150 GWh** and net profit between **Rmb 15.5 billion and 16.0 billion** [5]. - **Sales Trends**: - NEV sales showed mixed results, with a **1% month-on-month** increase in June but a **9% month-on-month** decrease projected for July [8]. This summary encapsulates the key points discussed in the conference call, highlighting the current state and future outlook of the battery and materials industry in China.

Atlas Lithium's Neves Project Completes Definitive Feasibility Study Estimating 145% IRR and 11- Month Payback August 04, 2025 8:30 AM EDT | Source: Atlas Lithium Corporation Boca Raton, Florida--(Newsfile Corp. - August 4, 2025) - Atlas Lithium Corporation (NASDAQ: ATLX) ("Atlas Lithium" or "Company"), a leading lithium development company, is pleased to announce that SGS Canada Inc. ("SGS") has completed the Definitive Feasibility Study ("DFS") for the Company's 100%-owned Neves Lithium Project ("Project" ...

Core Lithium (7CX) 2025 Conference August 04, 2025 04:05 AM ET Company ParticipantsPaul Brown - CEOOperatorNext up, we have Paul Brown, CEO of Core Lithium. Paul's got a background in project development operations and corporate strategy. And prior to taking on the role at Core, he had the role of CEO at Minrez Lithium and Iron Ore. So please welcome Paul to the stage. Thank you.Paul BrownYes, thanks for joining us and thanks for the introduction. So we put out a restart study in May, and I'll take you thro ...

Summary of Conference Call Records Company: Patriot Battery Metals (PMET.F) Key Points - **Project Overview**: The Shaka Jawanan project in North Central Quebec is highlighted as a significant lithium and critical mineral development project, benefiting from proximity to infrastructure such as hydro dams and roads [1][2][3] - **Resource Discovery**: The project boasts the largest hard rock lithium resource in the Americas, with high-grade subsets. The total resource includes approximately 25 million tons at 2% lithium [4][9] - **Cesium Discovery**: A significant cesium discovery has been made, with a resource of about 2.3 million tons, including a high-grade pod of 10.5% cesium oxide, which is larger than the current largest resource globally [5][6][13] - **Tantalum Co-Product**: Tantalum is also identified as a high-grade co-product, contributing to the project's overall value [7] - **Market Dynamics**: The cesium market is currently supply constrained, with China controlling 80-90% of the chemical capacity. The discovery at Shaka Jawanan presents an opportunity to create a more independent Western supply chain [13][14] - **Solar Efficiency**: The potential for cesium in enhancing solar panel efficiency through perovskite structures is discussed, with a projected market growth of 10 to 20 times in cesium demand due to this technology [15][16] - **Feasibility Study**: A lithium-only feasibility study is expected to be delivered soon, with further optimization to include cesium and tantalum in later phases [7][18] - **Regulatory Environment**: Quebec is described as a favorable mining jurisdiction, with strong First Nations engagement and a streamlined approval process [19][27] - **Lithium Demand Outlook**: The company believes that current forecasts for lithium demand are too cautious, particularly in stationary energy storage applications, which are expected to grow significantly [20][21][25] Company: Australian Strategic Materials (ASM) Key Points - **Industry Context**: ASM operates in the rare earths and critical minerals sector, which is experiencing increased urgency for alternative supply chains due to geopolitical tensions and supply chain vulnerabilities dominated by Chinese production [31][32] - **Project Development**: The Dubbo project in New South Wales is highlighted as a key asset, with plans to refine and separate materials for downstream markets. The company has an operational metals plant in Korea and is planning to replicate this capacity in the U.S. [34][36] - **Financial Position**: ASM has secured approximately $25 million in funding, adding to a strong cash position to support project development [36] - **Production Capacity**: The Korean metals plant has been producing light rare earth metals since 2022, with plans for expansion and increased production capabilities [36][41] - **Supply Agreements**: ASM has established supply agreements with various producers, including a five-year agreement with USA Rare Earths for 60% of their raw material needs [39] - **Project Economics**: The company is working on a heap leach option for the Dubbo project, which is expected to significantly reduce initial capital costs and improve financial returns [46][47] - **Regulatory Approvals**: The Dubbo project has received necessary approvals and is on track for construction to commence in 2027 [48] Company: Rox Resources Key Points - **Transformation and Growth**: Rox Resources has undergone significant transformation, with a focus on becoming a near-term gold producer. The company has reported strong cash flows and a high-grade resource base [51][52] - **Resource Update**: A recent mineral resource statement indicated an 11% increase in overall grade, with a substantial increase in underground resources [53][61] - **Project Economics**: The project is expected to yield over $3,000 per ounce margin at current gold prices, with a strong cash position of $50.5 million [56][62] - **Infrastructure and Permitting**: The project benefits from existing infrastructure and a simplified permitting process due to previous mining activities [55][56] - **Drilling Campaign**: Rox is actively drilling to expand its resource base, with plans for a definitive feasibility study (DFS) to be delivered in November [57][83] - **Path to Production**: The company is on track to commence mining operations in early 2027, with ongoing work on dewatering and approvals [75][76] - **Team and Experience**: The management team has extensive experience in developing mining assets, which is crucial for the project's success [80][82]

Summary of Lake Resources Conference Call Company Overview - **Company**: Lake Resources - **Industry**: Lithium production Key Points and Arguments DFS Update - The updated Definitive Feasibility Study (DFS) reflects an increase in lithium brine content from 205 mg/L to 249 mg/L, with ore reserve brine content now close to 270 mg/L [2][3][26] - The DFS update is necessary due to changes in technology and market conditions since the original DFS was published in December 2023 [2][3] Capital Expenditure (CapEx) and Operational Expenditure (OpEx) - The new CapEx is estimated at $1.16 billion, representing a 16% reduction from the previous estimate of $1.377 billion, and a 19% reduction when accounting for supply chain cost increases [6][7] - Significant savings in CapEx are attributed to advancements in technology and a reduction in the number of required wells [7][8] - OpEx has seen a reduction in non-power elements by 30%, although power costs remain a significant concern, accounting for 55% of total OpEx, which is approximately $5,900 per ton [13][14] Power Supply and Infrastructure - Power requirements have decreased from 82 megawatts to 57 megawatts due to improvements in brine and technology [16] - The company is working on a power purchase agreement and is in discussions with YPF regarding the commercial aspects of power supply [15][19] - The extension of the power grid in Argentina is in two phases, with the first phase completed and the second phase still under discussion [15] Market Conditions and Financials - The lithium market is expected to face a supply-demand deficit by the end of the decade, driven by electric vehicles (EVs) and battery energy storage systems [21][22] - Long-term financial projections are based on a lithium price of $21,000 per ton, down from over $30,000 per ton in the original DFS, but still indicating strong project economics with a pre-tax IRR of 22.5% [23][24] - The company has a cash position of approximately $14.5 million with no debt, allowing for operational sustainability into 2026 [31] Regulatory and Environmental Considerations - The Environmental Impact Assessment (EIA) approval process has been ongoing since March 2024, with expectations for completion by mid-2025 [27][30] - The company is dependent on the provincial government for the approval timeline, which has been delayed due to resource constraints [29] Strategic Review and Future Outlook - Lake Resources is conducting a strategic review of its assets, considering options for partnerships or potential sales [32][33] - The company emphasizes its competitive position in the lithium market, with significant ore reserves and expansion capabilities [34][35] - Upcoming milestones include EIA approval, strategic review updates, and progressing towards a final investment decision (FID) [36][38] Additional Important Information - The company has highlighted the importance of maintaining cost management and cash preservation strategies during the DFS update process [31] - The competitive landscape includes comparisons with other lithium producers, indicating that Lake Resources remains aligned with market expectations [24][35]

Project Improvements - The DFS Addendum design basis was set at 249 mg/L of lithium concentration, enabling more efficient lithium extraction[11] - Lithium recovery rates increased from approximately 80% to 90% with the transition to Lilac Gen4 Ion Exchange (IX) technology[11] - The number of wells was reduced by approximately 22%, representing a 35% and 44% improvement in well Capex and Opex, respectively[11] Capital Expenditure (CAPEX) - CAPEX was reduced to US$1,157 million, representing an approximate US$220 million improvement from the Original DFS figures[10, 12] - This represents a 19% improvement from the inflation-adjusted baseline or a 16% improvement from the Original DFS[12] - A reduction of approximately US$98 million in savings was achieved due to the reduction in DLE modules, which reduced major equipment, civil works, and installation costs[23] Operating Expenditure (OPEX) and Financials - OPEX meaningfully improved to US$5,895/t LCE, representing a 3% improvement from Original DFS numbers[10, 12] - The estimated pre-tax NPV10 is US$1.5 billion, and the pre-tax IRR is 22.5%[10] - The plant design basis was updated to 249 mg/L to reflect improved lithium concentration[12] Resource and Risk Reduction - The measured resource increased from 3.0 Mt LCE to 4.2 Mt LCE, and the total resource increased from 10.6 Mt LCE to 11.1 Mt LCE[12] - The wellfield development plan represents less than 9% of the Measured & Indicated Mineral Resource[76] - The company expects Exploitation EIA final approval in 2025[12]

1. Report Industry Investment Rating - The report does not mention the industry investment rating [1][2][3] 2. Core View of the Report - The price of lithium carbonate is in a wide - range fluctuation, and the disturbances at the mining end have not been settled yet [1] - The trend strength of lithium carbonate is - 1, indicating a relatively bearish view [3] 3. Summary by Related Catalogs 3.1 Fundamental Tracking - **Futures Market Data**: For the 2509 contract, the closing price was 70,600 yuan, down 240 yuan from T - 1; the trading volume was 792,909 lots, up 48,749 lots from T - 1; the open interest was 272,753 lots, down 27,867 lots from T - 1. For the 2511 contract, the closing price was 70,580 yuan, up 20 yuan from T - 1; the trading volume was 457,258 lots, up 143,169 lots from T - 1; the open interest was 185,345 lots, up 22,225 lots from T - 1 [1] - **Spot and Basis Data**: The basis of spot - 2509 was 2,350 yuan, up 40 yuan from T - 1; the basis of spot - 2511 was 2,370 yuan, down 220 yuan from T - 1; the basis of 2509 - 2511 was 20 yuan, down 260 yuan from T - 1 [1] - **Raw Material and Lithium Salt Data**: The price of spodumene concentrate (6%, CIF China) was 776 US dollars, down 1 US dollar from T - 1; the price of lithium mica (2.0% - 2.5%) was 1,775 yuan, unchanged from T - 1. The price of battery - grade lithium carbonate was 72,950 yuan, down 200 yuan from T - 1; the price of industrial - grade lithium carbonate was 70,850 yuan, down 150 yuan from T - 1 [1] 3.2 Macro and Industry News - SMM's battery - grade lithium carbonate index price was 72,858 yuan/ton, down 211 yuan/ton from the previous working day; the average price of battery - grade lithium carbonate was 72,950 yuan/ton, down 200 yuan/ton from the previous working day; the average price of industrial - grade lithium carbonate was 70,850 yuan/ton, down 150 yuan/ton from the previous working day [2] - Greenbushes produced 340,000 tons of lithium concentrate in 2025Q2, unchanged from the previous quarter and up 2.4% year - on - year; sold 412,000 tons of lithium concentrate, up 12.6% from the previous quarter and down 22.3% year - on - year. The production guidance for the 2026 fiscal year is 1.5 - 1.65 million tons, higher than the 2025 fiscal year; the cash cost guidance is 310 - 360 Australian dollars/ton, lower than the 2025 fiscal year [3] - Pilgangoora produced 221,300 tons of lithium concentrate in 2025Q2, up 77.0% from the previous quarter; sold 216,000 tons of lithium concentrate, up 72.1% from the previous quarter. The FOB cost in 2025Q2 was 619 Australian dollars/ton, down 9.6% from the previous quarter. The production guidance for the 2026 fiscal year is 820,000 - 870,000 tons, higher than the 2025 fiscal year; the FOB cost guidance is 560 - 600 Australian dollars/ton, lower than the 2025 fiscal year [3]