European Lithium (EUR) Q4 2024 TU earnings summary

Executive summary

• Critical Metals Corp. Form F-1 declared effective by SEC; commenced NASDAQ trading in Q1 2024.

• BMW transferred US$15M to Critical Metals for lithium hydroxide offtake from Wolfsberg Project.

• Critical Metals acquired 42% equity in Tanbreez Project, a major rare earth asset in Greenland.

• European Lithium acquired 100% of LRH Resources, holder of the Leinster Lithium Project in Ireland.

• Ongoing exploration at Austrian Lithium Projects; new targets identified and fieldwork planned for Q3 2024.

Financial highlights

• Cash and cash equivalents at 30 June 2024: $3.89M, down from $6.74M at previous quarter end.

• Net cash used in operating activities for the quarter: $(495)k; year-to-date: $(4.55)M.

• Net cash used in investing activities for the quarter: $(3.17)M; year-to-date: $(1.69)M.

• Net cash from financing activities for the quarter: $816k; year-to-date: $(2.99)M.

• Estimated quarters of funding available: 7.87 based on current cash and outgoings.

Outlook and guidance

• Exploration program at Austrian Lithium Projects to commence in Q3 2024, pending land access agreements.

• Field trip planned for Western Australia tenements in H2 2024.

• Completion of LRH Resources acquisition in Ireland subject to due diligence.

• Monitoring Ukraine situation for safe commencement of exploration at Dobra and Shevchenkivske projects.