About SK OnSK On is a global leading electric vehicle (EV)...

About SK On

SK On is a global leading electric vehicle (EV) battery developer, manufacturer, and solutions provider whose mission is to make ourworld a cleaner and more convenient place.
Established in October 2021 after splitting off a battery business from SK Innovation, South Korea’s largest energy company, SK Onaims to become a world leader in the clean energy industry by leveraging its global production base and R&D capabilities, as well as itsproduction and quality management know-how. Headquartered in Seoul, South Korea, SK On has a worldwide presence with batteryplants currently operating or in construction across the United States, Europe, and Asia.

About SK Group

SK Group, South Korea's second-largest conglomerate, is a collection of global industry-leading companies driving innovations insemiconductors, sustainable energy, telecommunications, and life sciences. Based in Seoul, SK invests in building sustainablebusinesses around the world with a shared commitment to reducing global greenhouse gas emissions and increasing the use ofrenewable energy.
SK companies combined have more than $138 billion in global annual revenue and employ more than 100,000 people worldwide.

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Conditional offtake & equity with WMC Energy & SK OnLKE has recently announced two conditional agreements with a combined offtake of50ktpa lithium carbonate (LC) and listed-level equity placement of 20%. WMC Energy(Netherlands) and SK On (Korea) have both signed 10-year 25ktpa LC offtake fromLKE’s Kachi project. Both companies are expected to make a 10% equity investmentin LKE; WMC at $1.20/sh and SK On at an agreed 20-day VWAP. Both agreementsare conditional on the release of the Kachi definitive feasibility study, Lilac’sdemonstration plant successfully operating, completion of financial due diligence onLKE and formal documentation and approvals.