FY2024 GUIDANCE• FY24 production guidance is between 80,000t and...

FY2024 GUIDANCE
• FY24 production guidance is between 80,000t and 90,000t of spodumene concentrate at a
C1 cost of between $1,165 to $1,250 per tonne1
– Key drivers of lower production vs study estimates are lower recoveries, a revised mine
plan with a layback of the pit walls, and wet season mining assumptions
– Additionally, Core expects FY24 to include the potential to produce and sell c. 85,000 to
95,000t of fines2 at a grade of ~ 1% Li2O at no incremental mining or processing costs
• With respect to FY25, Core expects monthly mining and processing rates to be above FY24
levels. However, production in FY25 is expected to be below FY24 due to a three-month gap
in ore feedstock supply from the mine and processing plant capacity constraints result in a
ROM pad stockpile building at the conclusion of FY25
– Core is evaluating options to process and sell product from these stockpiles
– FY25 production outlook currently assumes no ore from BP33
• Finniss sustaining capital of A$20 – 25 million for water management civil work, port storage
building upgrade, ROM extension and haul roads
• Exploration expenditure to define, extend and discover new resources
• BP33 remains on track for a Final Investment Decision in 1Q CY2024
– Early works budget of A$45-50 million

Page 8 in quarterly.

BP33 UPDATE
• BP33 is cornerstone asset which underpins the broader business
• Mineral Resource more than doubled to 10.1Mt @ 1.48% Li2O in March 2023
• Revised Feasibility Study based on 2023 resource model commenced in April 2023 with a
dedicated team responsible for expanded technical studies including geotechnical and in-fill
resource drilling
• Approved early works funding of $45-50 million in May 2023
– Program includes the development of a covered box-cut, improved access works and
associated surface works for water management
– Allows a feasibility study to be completed in parallel enabling mine decline development
to begin soon after a positive FID
– Subject to potential early wet season, modelled geotechnical and groundwater impacts,
this work is expected to be complete by end of Q1 CY2024

Page 9 in quarterly.00000