Lake Resources (LKE) Noosa Mining Investor Conference summary

Market trends and industry outlook

• Lithium demand is growing rapidly, with the market at 1.5 million tonnes per year and long-term demand expected to nearly double between 2025 and 2035, driven by EV growth and energy storage expansion.

• Recent deals, such as POSCO's premium acquisition, signal renewed sector activity and rising valuations.

• Barronjoey has raised lithium price forecasts and brought forward the expected market deficit to 2026.

• Lithium prices experienced high volatility in Q3 2025, with battery grade lithium carbonate rising 22% and lithium hydroxide up 29% from July to November.

• Institutional and strategic interest in lithium assets is increasing, with more parties entering data rooms and seeking offtake.

Regulatory and geopolitical developments

• Argentina and the U.S. announced a new trade framework, easing export barriers and opening U.S. offtake and funding opportunities.

• Argentina's political environment is improving, attracting major global investors and shifting perceptions of risk, with President Milei’s reforms and US financial support boosting investor confidence.

• Over $100 billion in U.S. capital is reportedly waiting to access Argentina, with the new trade agreement seen as a catalyst.

Project status and operational progress

• The Kachi project completed its Phase 1 DFS Addendum in August 2025, confirming enhanced economics and operational efficiencies.

• Total resource increased to 11.1 Mt LCE, with measured and indicated resources at 8.2 Mt LCE, and ore reserve statement confirming lithium grade of 268 mg/L.

• Plant design basis set at 249 mg/L, with a 25 ktpa target plant capacity for Phase 1 and potential for a second plant of equal capacity in future phases.

• Exploitation Environmental Impact Assessment (EIA) approval now expected in 2026, following close collaboration with provincial authorities.

• Major milestones in 2025 include completion of power supply FEED and ongoing engagement with offtake and strategic partners.