How a demerger and IPO affects existing shareholders, page-36

Hi Ragshak , transferring the KV assets should be a simple process and the company has been taking action to ensure this for some time.

The KV project is made up of four Mining leases (ML), one exploration lease(EL) and one mining lease application (MLA).

The mining leases are held by LRL Aust Pty Ltd which is a wholly owned subsidiary of Liontown.

The EL and MLA are held directly by Liontown.

It appears once the mining lease is granted, the tenement is then transferred to LRL Pty Ltd.

This would make selling KV a simple process as they just sell LRL Pty Ltd asset and KV comes with it.

Also note the Moora project consists of three EL"s and they are held by ERL Aust Pty Ltd, a different Liontown owned subsidiary.

Thats my take on it anyway.

If anyone wants to find the above information it can be found in most presentations or updates where the tenements are discussed, just scroll towards the end and it will be in appendix 2, under the heading, "Mineral Tenement and land tenure status".