Savannah Resources (SAV) Corporate presentation summary

Project overview and strategic significance

• Owns Europe's largest spodumene lithium deposit, the Barroso Lithium Project in Portugal, with a 1Mt lithium carbonate equivalent resource, enough for over 20 million EV batteries and significant exploration upside.

• Recognized as a European Commission Strategic Project and recipient of a Portuguese State grant up to €110m, with potential German government loan guarantee support up to $270m.

• Targeting first production in 2028, aiming to supply a substantial share of Europe's lithium demand and support the region's energy transition and independence.

• Project is unrivalled in scale in the EU, nearly double the next largest lithium project, and could eventually supply lithium for over 50 million EVs.

Market dynamics and demand outlook

• Lithium prices have rebounded sharply, with spodumene prices up 175% since late 2025, and global demand for lithium expected to outpace supply from 2027.

• European EV and battery storage markets are experiencing robust growth, with EV sales in Europe up 33% year-on-year in 2025 and battery storage expected to grow sixfold by 2029.

• EU lithium demand projected to increase 12x by 2030 and 21x by 2050, driven by electrification and net-zero targets.

• Global lithium supply faces constraints, with few new projects in the pipeline and geopolitical risks affecting African supply.

Financials, funding, and valuation

• Market cap stands at £140m with no debt and a cash balance of £22m as of December 2025; 47% of shares are board- and staff-held, ensuring strong alignment.

• Flexible funding strategy includes government grants, potential German loan guarantees, project finance, strategic partnerships, and equity markets.

• Peer group valuations suggest significant upside, with potential for a 3x re-rating upon reaching production; current P/NAV is 0.26x versus 0.86x for producers.

• Analyst price targets range from 8.0p to 18.5p per share, with recent large stakes acquired by strategic investors.