Let him talk to himself over there; Definition of unscalable:...

Let him talk to himself over there; Definition of unscalable: not capable of being climbed or scaled : not scalable : unscalable peaks.

Rincon Lithium Project
- Staged development strategy - industrial scale pilot plant→2,000tpa→12,000tpa
- Stage 1 – Pilot plant accelerating process and product qualification works
- Stage 2 – 2,000tpa in construction → first commercial production from mid-2022
- Stage 3 – 10,000tpa expansion underpinned by exceptional PEA results
- Meaningful, long life asset – 16.5 year mine life @ 10,000tpa scale
- Ability to extend via deeper drilling (Exploration Target potential upside)
- Experienced team, proven producer, proprietary clean technology – 1st mover advantage

Existing Production
- High level of confidence in chemical process technology via pilot plant operations
- De-risked scale-up of production (2,000tpa to additional 10,000tpa operations)
- Delivery of >25t of high purity battery quality Li2CO3 has enabled the establishment of strong potential off-taker relationships

Next Steps to Commercial Production
- Complete construction of 2,000tpa Li2CO3 operation, production start by mid-2022
- Increase current JORC resource via exploration target drilling works
- Execute investment & off-take agreements for 2,000tpa & 10,000tpa battery quality lithium carbonate product with strategic partner
- Receive EIA regulatory approval for 10,000tpa expansion operation
- Secure capex finance and commence construction of 10,000tpa expansion operation targeted for H1-2022

Owner of the Rincon Lithium Project, Salta Province, Argentina – 77.5% current interest, increasing to 90% ownership upon development of 10,000tpa operation
PEA completed in 2018 - US$399M1 NPV10%, IRR 53%, Opex US$4,645/t (at Li2CO3 price of US$13,000/t) spot price now significantly higher

• Located ~4km from Albermarle’s longstanding Silver Peak operation - the only lithium carbonate operation in USA (operating for +50yrs)
• Geophysical data identifies lithium brine target areas
• Gravity-derived 3D depth inversion model shows favourable structures identified as boundaries of subbasins
• Magnetotelluric (MT) resistivity survey data has defined a major conductive anomaly
• Potential lithium brine aquifer, with depth to the top of this feature varying between 300m to 700m
• Three delineated MT targets correlate very well when overlain with the previously interpreted gravity targets, providing further confidence for future drill testing works
• Next step exploration target works to determine lithium brine prospectivity, then drilling works to test MT targets to delineate lithium brine potential