Elevra Lithium (ELV) investor relations material

Investment overview

• North America's leading hard-rock pure-play lithium producer, with attributable resources of 166Mt at 1.17% Li₂O and combined ore reserves of 76Mt at 1.19% Li₂O.

• Portfolio includes operating North American Lithium (NAL), plus Moblan (60%), Carolina Lithium (100%) and Authier (100%) at study or development stages.

• Q1 FY27: 54,907 dmt produced, 58,134 dmt sold, 70% recovery and US$74m revenue; cash was US$319m at 30 September 2026.

Lithium market outlook

• Lithium demand is forecast to rise from 1.57Mt LCE in 2025 to 3.16Mt in 2030; stationary storage is projected to grow from ~25% of demand in 2025 to 30%+ by 2030.

• Recent price weakness was linked to revised Chinese inventory estimates, returning supply and futures-linked pricing amplifying sentiment-driven volatility.

• Broader demand by geography and application may reduce cycle volatility, while prices below incentive levels could slow supply development.

Strategy and commercial portfolio

• Priorities for the next 18 months: optimise NAL production, costs and recovery; deliver NAL expansion Stage 1; update Moblan studies and advance approvals; develop downstream partnerships.

• Commercial strategy targets 2–3 core offtake customers, diversified markets, spot-indexed pricing and 3–5 year contracts as NAL volumes grow.

• Binding agreements include 240,000 dmt of supply over three years with LG Energy Solution and a supply agreement with Mangrove Lithium, conditional on positive FID by 31 December 2028.

• Portfolio actions included completing the Ewoyaa sale for ~US$71m before fees and taxes, selling Tabba Tabba rights for A$16m consideration, and proposing a Morella JV for four WA projects.