LIT:13 June 2024Lithium Australia signs MMD off-take agreement...

LIT:

13 June 2024

Lithium Australia signs MMD off-take agreement with
SungEel HiTech

HIGHLIGHTS

◼ Lithium Australia has signed a new 3-year Mixed Metal Dust (MMD) off-take agreement
with SungEel HiTech, a leading South Korean battery recycler

◼ Under the off-take agreement, SungEel HiTech will purchase a minimum of 60% of
Lithium Australia’s annual MMD production, subject to quality requirements being met

◼ This off-take agreement validates Lithium Australia’s high-quality MMD and provides an
important strategic partnership for the Company’s growth strategy

◼ Following the signing of the off-take agreement, both parties have commenced
discussions on a joint development agreement

Simon Linge, Lithium Australia CEO and Managing Director:

“We are very pleased to sign this MMD off-take agreement with SungEel, demonstrating rapid
progress after the MOU was initially announced in March 2024. SungEel has been a longstanding customer and we are excited to expand our strong commercial relationship.

The signing of this MMD off-take agreement represents a core component of our recycling
growth strategy, given its synergistic value with the Company’s rapidly growing large-format
LIB collection volumes and MMD production. This off-take agreement also highlights the strong
market demand for MMD and supports the expected uplift in future production volumes. We
are now ready to start the next step of our SungEel relationship with a Joint Development
Agreement to be finalised through this year.

We are excited to continue building upon this momentum while aiming to achieve sustainable
profitability within our recycling business in the near-term.”

Refer to todays ann. for more info.

glall