Relevant Excerpts from Lake Update Webinars, page-5

The next topic covers the progress Lake have made over the past couple of months towards the DFS and ESIA
Sourced from Update Webinar #1 on 23/8/23
Commentary made by Scott Munro - SVP Technology Strategy and Risk

Scott M talking about the progress we've made over the past couple of months towards the DFS and ESIA:
“So obviously DFS and EIA are key targets. We're really focused on delivering those on schedule as we communicated in the operational update. The operational update was key for us because it allowed us to confirm the decisions we've made on concept validation and so following those announcements, we're moving ahead with phase one DFS which is for two trains of 12,500Tpa battery grade lithium carbonate capacity.

So, we had to revise the designs and layouts of plant that we had previously been looking at. The key steps in this last month will finalise the heat material balance which allows us to set up the plot plan and the drawings and layout. Those are now set. The model reviews ongoing with the team at the moment allows us to move into HAZID for the plant and then release all of the data on the process flow sheets to the environmental consultant to do the EIA work. So really a key deliverable for us this month was to get heat material balance done with our partners at Lilac - now that's done, that's achieved as a key step for us moving forward towards the end of the year and the delivery of the DFS.

If you look at the slides that were put together, this is the initial plot plan that has put together. A more compact footprint than in the previous plant that we looked at and we've relocated the plant to the southwest quadrant of the field to be closer to our planned extraction and re injection areas. All of that work has been combined in this refresh of the DFS work. In addition, we are kicking off workshops with the local community. So, our second statutory consultation with the community for the EIA is scheduled to take place this month and we have teams in country this week with the Environmental Consultant to go through all of the process technology, the other work created so far. Good progress there as well and both documents are on schedule for delivery in accordance with the previous plan.”