Australian Vanadium (AVL) investor relations material

Strategic Market Trends and Case Studies

• Japan awarded more non-lithium than lithium energy storage in its annual LTDA auction, signaling a shift toward technology diversification for grid stability.

• Australia is recognizing the risks of single-source supply chains and is seeking to diversify beyond lithium-ion for energy security.

• Global VFB deployment is accelerating, with over 8 GWh operational and 44 GW in construction or announced as of 2026, including major projects in China, Switzerland, India, Japan, and the U.S.

• Vanadium flow batteries (VFBs) are highlighted as the only fully commercialized, scalable, and domestically deliverable long-duration storage technology.

Integrated Value Platforms and Strategy

• Three integrated platforms—upstream mining, midstream electrolyte manufacturing, and downstream VFB BESS deployment—are positioned to capture value across the vanadium supply chain.

• Focus on finalizing the Optimised Feasibility Study by year-end and securing offtake and funding for the Australian Vanadium Project, with one permit remaining.

• WA's only operational vanadium electrolyte manufacturing facility is advancing OEM qualifications and deploying new cost-reduction platforms.

• Commercial production of electrolyte in Australia has led to operating batteries exceeding client expectations and 70% domestic content.

• Electrolyte leasing and the V-NOMAD relocatable plant technology are designed to accelerate VFB adoption and reduce delivered costs for utility-scale projects.

Technology and Economic Advantages

• VFBs offer zero degradation over 25 years, non-flammability, and superior economics for long-duration storage (8–16 hours).

• VFBs are fully recyclable and can last up to 50 years, outperforming lithium-ion in lifecycle and sustainability.

• Electrolyte leasing, stack innovation, and economies of scale are expected to further improve VFB cost competitiveness.

• Ongoing innovation in electrolyte production and battery architecture aims to maintain cost leadership.