LibertyStream Infrastructure Partners (LIB) investor relations material

Production model and infrastructure

• West Texas operation described as the only U.S. lithium carbonate refining from oilfield produced water; first site is in Howard County on Select Water Solutions infrastructure.

• Permian Basin produces 20 million barrels of water daily, equivalent to an estimated 150,000 tons/year of lithium carbonate; 98% of water is piped through a network built with more than $100 billion in investment.

• Select's 2.5 million barrels/day of water handling capacity was linked to potential for ~25,000 tons/year of lithium; extraction takes ~45 minutes before water is returned without disrupting operations.

• Process comprises water pre-treatment, lithium extraction and refining; pre-treatment costs and an output-based royalty are included in the stated operating cost.

Technology and commercial execution

• Proprietary technology developed at Edmonton's Nanotechnology Research Centre; field work in the Permian began in 2024, with 2,500 operating tests and Gen 6 equipment after iterative development.

• Operating cost cited at $6,200/ton, including pre-treatment costs; planned facility CapEx cited at $37 million, with no need to drill wells or build water infrastructure.

• Battery-grade product has been produced for months on a 24-hour operating schedule; first offtake agreement signed in Q2 2026 after customer industrial validation.

• Industrial trials planned for Q1 2027, followed by steady-state production in Q2 2027; management said the commercial facility will use the same equipment and flow sheet as the demonstration operation.

• 2028 demand cited at 9,100 tons; customer ramp examples include growth from 500 to 5,000 tons as production scales.

Market opportunity and growth plans

• Three industrial customers were reported to face product shortages in 2027; customers value U.S. origin and stable supply, while conventional production can take 7–15 years.

• Permian water production was projected to reach 30 million barrels/day by 2030, supporting a resource potential of up to 150,000 tons/year of lithium carbonate.

• North American lithium demand was cited at 100,000 tons/year currently, with Fastmarkets projecting 600,000 tons/year in four to five years.

• Expansion plans include increasing production through the Select partnership and advancing Bakken opportunities; Packet Digital, which supplies batteries for U.S. military drones, has an MOU and needs U.S.-sourced lithium by 2028.

• Longer-term plans include multi-element recovery, including fertilizer and magnesium products, with critical-mineral extraction viewed as a pathway toward desalination; water from the Bakken was cited at 28–33 ppm lithium and low complexity.