Lotus Resources (LOT) Investor presentation summary

Equity raising and financial flexibility

• Raising approximately A$76M through a non-underwritten institutional placement and up to A$5M via a share purchase plan to enhance financial flexibility during ramp-up at Kayelekera.

• Pro-forma unaudited cash post-raise is A$145M, supporting project execution, working capital, and contingency liquidity.

• Offer price set at A$2.15 per share, a 25.3% discount to the last closing price, with new shares representing ~15% of issued capital.

• Funds will support acid plant and grid connection projects, working capital, TSF lift, and Letlhakane development.

• Additional liquidity options include inventory pre-payment facilities under negotiation.

Kayelekera project ramp-up and milestones

• Targeting steady state production of ~200klb/month (~2.4Mlbpa) and first shipment in Q2 CY2026, with first cash receipts in Q3 CY2026.

• First drummed uranium produced in Q3 CY2025, within the US$50M restart budget.

• Acid plant commissioning expected by end of Q1 CY2026; grid connection completion targeted by end of CY2026.

• Owner-operator mining implemented, with over 700 full-time employees and strong safety record.

• Product qualification with converters ongoing, with final acceptance anticipated in February 2026.

Offtake strategy and market positioning

• Strong contract book with high-quality counterparties secures attractive margins; ~80% of LOM production remains uncontracted for market upside.

• Four binding offtake agreements for 3.5Mlbs with fixed, base-escalated pricing; initial forward contracts for 0.25Mlbs across 2026/27.

• Ability to swap between converters provides delivery flexibility across contracts.

• Patient, flexible offtake strategy maintains optionality for medium to long-term market exposure.