Winsome Resources (WR1) Investor Presentation summary

Project overview and resource highlights

• 100% ownership of a Tier 1 lithium asset in Québec with a 21-year mine life and 78Mt @ 1.15% Li₂O resource, 79% in the Indicated category.

• Near-surface, hard rock spodumene deposit with a low strip ratio of 1:1 for Phase 1 open pit mining.

• Renard operation option provides access to established infrastructure, including a process plant, airport, and power station, reducing start-up capex and permitting risk.

• Adina resource remains open along strike and at depth, with further exploration potential.

• One of the largest undeveloped hard rock lithium projects globally, with significant measured and indicated resources in the Americas.

Scoping study economics and production profile

• Post-tax NPV of C$1,003M (US$743M), IRR 43%, and 1.8-year payback at US$1,375/t SC5.5% price assumption.

• Start-up capex of US$259M, including a 20% contingency and net of US$33M in clean technology tax credits.

• Average annual production of 282kt SC5.5% (38kt LCE) over 21 years, with a low C1 operating cost of US$598/t and AISC of US$693/t.

• Production profile shows strong recoveries (67% LOM, >70% in first 5 years) and robust operating margins.

• Renard plant throughput at 1.7Mtpa, ~80% of design capacity, with opportunities for further expansion.

Infrastructure, development pathway, and timeline

• Exclusive option to acquire Renard operation for C$4M initial fee, with staged payments up to C$52M if exercised.

• Over C$900M previously invested in Renard infrastructure, including a 2.2Mtpa DMS plant, 16MW power station, and 330-person camp.

• Simple process flowsheet using DMS, leveraging existing Renard crushing and processing circuits.

• Project timeline targets construction and commissioning in 2027, with regulatory processes and engineering underway.

• Pathway to production includes road connection from Adina to Renard and access to rail and ports.