Liontown Resources (LINR.F) Earnings Call Presentation

Capital Raising and Financial Position - Liontown is undertaking a capital raising of approximately A$266 million to strengthen its balance sheet and provide a liquidity buffer[38, 42] - The pro forma cash balance after the capital raising is expected to be approximately A$422 million before transaction costs[42, 99] - The National Reconstruction Fund Corporation (NRFC) is investing A$50 million in Liontown as part of the capital raising at A$0.73 per share[42, 105] Operational Performance and Future Plans - In FY25, Liontown produced over 320,000 wmt of concentrate at 5.2% Li2O with 8% moisture, equivalent to over 294,000 dmt[38, 53] - Underground production stoping has commenced on schedule[38] - FY26 is expected to be a transition year for Kathleen Valley as underground production ramps up, with 100% underground production planned by Q3 FY26[42, 60] - A lithia recovery target of 70% by Q3 FY26 remains unchanged[42, 60] Financial Metrics and Guidance - FY25 revenue was A$301 million with an average realised price of A$1,061 per dmt (CIF) for ~SC5[53] - H2 FY25 unit operating cost was A$802 per dmt sold (FOB), and AISC was A$1,081 per dmt sold (FOB)[53] - FY26 concentrate production is guided at 365,000 - 450,000 dmt, with All in Sustaining Costs of A$1,060 - A$1,295 per dmt sold and Unit Operating Costs of A$855 - A$1,045 per dmt sold[61]