29 October 2021 Quarterly Activities/Cash Flow Report September Quarter 2021 Highlights * Long duration, low-cost project debt finance for the Kachi Lithium Project is indicatively available from the United Kingdom’s Export Credit Agency UKEF and Canada’s EDC. * UKEF provided a strong Expression of Interest to support approx. 70% of the total finance required for Kachi’s development, subject to standard project finance terms. * Canada’s Export Credit Agency, EDC, provided a Letter of Interest to potentially work alongside UKEF to provide direct lending to the project up to US$100 million. * Definitive Feasibility Study (DFS) and Environmental and Social Impact Assessment (ESIA) continue for Kachi with completion anticipated in Q2 2022, together with an expansion case to double production to 51,000 tpa LCE. * Discussions continue with potential offtakers and electric vehicle makers with few projects globally with uncommitted lithium offtake. * Lake formally partnered with Lilac for the technology and funding to develop the Kachi Project. Lilac will contribute technology, engineering teams, and an onsite demonstration plant, earning in to a maximum 25% stake in Kachi based on performance-based milestones. * Lilac, after earning its interest, will be expected to fund approximately US$50 million, equivalent to its pro-rata share of future development costs. * Lake announced a pro-rata issue of 1 Bonus Option for every 10 Shares held on 24 August 2021 and 1 Additional Option for every Bonus Option exercised prior to 15 October 2021. Take up was ~75%. * Lithium prices continue to increase due to a growing lithium supply shortfall from early 2022. * Lake is well-funded through to final investment decision (FID) on construction finance, anticipated in mid-2022. Cash of A$46.5 million (US$35m) as at end September and approximately A$63 million (US$47.4m) at end October. Clean lithium developerLake Resources NL (ASX:LKE; OTC:LLKKF) released today its Quarterly Activities and Appendix 5B Cash Flow Report for the September quarter 2021, as it continues to advance clean lithium development at its flagship Kachi Lithium Project. Click here to read the announcement