EV/Lithium, page-705

...as I mentioned with the lithium sector's Winter Hibernation, all we can expect
> Cost Cutting/Control
> Capital Raise
> C&M (Care & Maintenance)
> Administration
in that order of progression.

LAKE RESOURCES

Proactive Plan to Significantly Reduce Costs

In addition, the Company is implementing operating cost initiatives to right-size its headcount and expenditure level, without impact to ongoing strategic priorities for Kachi, which include:

• Reduction of more than 50 percent of global headcount, including staggered exits over several months of six members of the Company’s executive team and additional rationalization of and decrease in general and administrative expenses. These actions are in addition to the approximate 50 percent reduction in non-core operational and administrative workforce announced in March 2024 (refer to 4 March 2024 ASX Announcement); and
• Voluntary deferral of a significant portion of the CEO’s base salary