Lake Resources (LKE) investor relations material

Kachi project

• Catamarca, Argentina project targeting 25 ktpa battery-grade lithium carbonate in Phase 1; potential Phase 2 could add another 25 ktpa, with a 25-year mine life. Kachi is 80% owned by Lake Resources and 20% by Lilac Solutions.

• Total resource of 11.1 Mt LCE, including 8.2 Mt measured and indicated and 2.9 Mt inferred; DFS design basis is 249 mg/L, with average ore reserve concentration of 268 mg/L.

• Exploitation EIA approval was granted in September 2026; FEED is advancing. A 200 m lagoon exclusion zone is not expected to materially affect the ore reserve estimate or wellfield plan for the 25 ktpa profile.

Project economics and technology

• Phase One DFS Addendum: US$1.16B capex, US$5,895/t opex, US$1.5B pre-tax NPV10 and 22.5% pre-tax IRR; NPV assumes a US$20.5/kg average lithium carbonate price.

• Lilac Gen 4 ion-exchange technology targets ~90% recovery; DLE modules cut 50%, DLE capex 39% and DLE opex 40% versus the original DFS.

• Addendum design reduced well count ~22% and plant footprint 15–20% versus the original DFS; further cost reductions may come from higher brine concentration and Lilac Gen 5 technology.

Milestones and priorities

• Completed a demonstration plant that processed 5.2 million litres of brine and produced more than 1,300 kg of lithium carbonate at >99.5% purity; Phase One DFS and its August 2025 addendum were completed.

• Completed power-supply FEED in 2025; the 2026 public consultation was held in August and DIA approval followed at the end of September.

• Near-term priorities include submitting the RIGI application, advancing FEED, optimizing technical and commercial power solutions, finalizing offtake and strategic partnerships, securing project capital and achieving FID.

• Target schedule is first lithium 33 months after FID and full capacity 42 months after FID.