Liontown Limited · ASX:LTR
Liontown — Liontown Resources — Shareholder Meeting (November 2025)
27 slides from Liontown's shareholder meeting presentation, Nov 26, 2025
Slide 1: 2025 AGM Chair address and presentation
ASX: LTR www.ltresources.com.au 26 November 2025 2025 AGM Chair address and presentation Liontown Resources Limited (ASX : LTR) (“Liontown” or the “Company”) is pleased to provide a copy of the Chair address and Managing Director’s presentation which will be delivered to shareholders at the Liontown
Slide 2: Chair address
ASX: LTR www.ltresources.com.au Chair address Good morning, fellow shareholders, and welcome. It’s great to be with you today. The past year has been one of transition for Liontown. Today, we stand with a strong balance sheet and a world-class operating mine at Kathleen Valley. Coupled with a first-r
Slide 3: Chair address (continued)
ASX: LTR www.ltresources.com.au Bringing Kathleen Valley to full potential—alongside pursuing accretive growth opportunities—will be central to creating long-term shareholder value. Tony will shortly speak to what this future growth could look like. But one theme remains clear: global demand for lit
Slide 4: 2025 Annual General Meeting
For personal use only 2025 Annual General Meeting 26 November 2025 ASX: LTR | ltresources.com.au
Slide 5: Important Information
Important Information IMPORANT INFORMATION NOTICE AND DISCLAIMERS NO FINANCIAL PRODUCT ADVICE This presentation (Presentation) is dated 26 November 2025 and has been prepared by Liontown Resources Limited (ACN 118 This Presentation is for information purposes only and is not a prospectus, disclosure
Slide 6: Acknowledgement of Country
Acknowledgement of Country For personal use only Liontown acknowledges the Traditional Owners of the land on which we meet, the Whadjuk Noongar people, and pay our respect to Elders past, present and emerging. We also acknowledge the Traditional Owners of the land on which our Kathleen Valley Operat
Slide 7: Tony Ottaviano, Managing Director & CEO
Tony Ottaviano Managing Director & CEO For personal use only Mt Mann underground 3
Slide 8: Liontown at a Glance; A Tier-One Lithium Asset in a Tier-One Jurisdiction
Liontown at a Glance; A Tier-One Lithium Asset in a Tier-One Jurisdiction Liontown is an ASX listed responsible battery minerals provider For personal use only headquartered in Perth, Western Australia. It’s flagship Kathleen Valley Lithium Operation provides battery minerals to key offtake partners
Slide 9: Executing through market weakness, underpinned by commodity outperformance
Executing through market weakness, underpinned by commodity outperformance For personal use only (44%) Commodity price +110% LTR share price 1.40 (21%) LTR share price +79% Commodity price 1,350 July 2024 1.20 Strategic partnership and A$372m convertible note with 1,250 LG Energy Solution December 2
Slide 10: Market Outlook
For personal use only Market Outlook 6
Slide 11: Global monthly EV sales exceeded million units in September 2025
Global monthly EV sales exceeded 2 million units in September 2025 EV growth highlights robust fundamentals with robust growth in China, Europe rebounding and significant For personal use only momentum in Rest of World EV Sales Actuals2 Global EV Sales Forecast3 Jan-Oct 24 M units Jan-Oct 25 M units
Slide 12: Battery Energy Storage Systems (BESS): the sleeper!
Battery Energy Storage Systems (BESS): the sleeper! Demand growth has exceeded expectations yet again and will remain a material driver of lithium demand growth For personal use only • Benchmark Minerals Intelligence has Lithium demand forecast by use4 BESS forecast estimates BESS contributing 25% o
Slide 13: Liontown: Ramp-up on track; Positioned for growth
For personal use only Liontown: Ramp-up on track; Positioned for growth 9
Slide 14: FY25 | Milestone first year of operations and strong financial outcomes
FY25 | Milestone first year of operations and strong financial outcomes Delivered broadly in line with guidance, underscored by key milestones of first concentrate For personal use only production and commencement of underground production mining in April Concentrate Production Plant Availability Re
Slide 15: FY25 | Embedded sustainability for long-term value
FY25 | Embedded sustainability for long-term value For personal use only Developing Natural Creating Social & Respecting & Protecting Resources Responsibly Partnering with Others Economic Value Operating with Integrity • Established safety culture • 81% renewable power • IRMA based assessment • A$22
Slide 16: FY26: A transitional year
FY26: A transitional year Strategically investing capital to set a strong foundation for long-term value For personal use only • Open Pit concluding and utilising strategic stockpiles • Ramping up underground operations with enabling infrastructure • Setting up for structural cost improvements from
Slide 17: Underground mining delivered on schedule
Underground mining delivered on schedule A key value driver delivered For personal use only • Underground mining commenced in April 2025 • Designed for scale with dual declines, large-volume stopes (up to 80kt) and bulk levels containing ~125kt of ore per vertical metre delivering scale and improved
Slide 18: Plant performance continues to provide flexibility and optionality
Plant performance continues to provide flexibility and optionality For personal use only • Given the strong performance-to-date, Kathleen Valley plant design and flowsheet is now de-risked, tried and tested • Reliably producing high-quality concentrate at scale, meeting all customer specifications •
Slide 19: Supplying global customers with quality product
Supplying global customers with quality product FY25 customer deliveries performed strongly, with recent offtake changes enhancing For personal use only commercial optionality in future years • 294kt of concentrate produced and 284kt shipped, generating A$298M in revenue in FY25 • Product consistent
Slide 20: Operational Transition | From Early Ramp-Up to Steady-State Performance
Operational Transition | From Early Ramp-Up to Steady-State Performance FY26 reflects the underground transition, with FY27+ expected to deliver higher-grade ore, For personal use only stronger operational efficiency, and a lower cost operation • Early underground ramp-up performance has been positi
Slide 21: Fortified balance sheet supports execution
Fortified balance sheet supports execution For personal use only • Strong cash position of A$420M at 30 September 20258 • Provides operational flexibility during transition to underground operations • Low cost, covenant-light, customer led financing • Deferral of the first Ford repayment to 30 Septe
Slide 22: Liontown: Full Potential
Liontown: Full Potential Liontown’s long-term strategy is to expand beyond Kathleen Valley and continues to evaluate value- For personal use only accretive opportunities for growth within our capital allocation framework The best strategies endure the cycles • Ambition to diversify our operational f
Slide 23: Watch online
For personal use only Watch online: https://youtu.be/5TbxMiwt-wE 19
Slide 24: Liontown: A globally significant, long-life lithium asset
Liontown: A globally significant, long-life lithium asset For personal use only • Globally significant resource with multi-decade mine life • Tier-one jurisdiction and strong ESG credentials • Strategically positioned for EV and ESS demand Aerial view of dry plant 20
Slide 25: For more information
For more information: Leanne Kite For personal use only Investor Relations lkite@ltresources.com.au +61 401 438 850 Level 2, 32 Ord Street, West Perth WA 6005 +61 8 6186 4600 info@ltresources.com.au liontown-resources-limited Liontown Resources @LiontownRes @LiontownRes 21
Slide 26: Kathleen Valley Mineral Resource at June 2025
Kathleen Valley Mineral Resource at 30 June 2025 Classification Million tonnes Li2O % Ta2O5 ppm Open Pit (cut-off grade = 0.4% Li2O) Measured 1.0 1.34 170 Indicated 0.1 0.74 150 Inferred 0.0 1.07 130 Sub-total 1.1 1.31 170 Underground (cut-off grade = 0.6% Li2O) For personal use only Measured 15 1.3
Slide 27: Footnotes
1. LTR Share price source: Market data as at 21 November 2025. Spodumene price source: Fastmarkets Spodumene min 6% Li2O, spot price, CIF China, US$/tonne 2. Source chart (left): Rho Motion 2025 3. Source chart (right): Bloomberg New Energy Finance 2025 EV Outlook 4. Source chart (left): Benchmark M
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