Liontown Limited · ASX:LTR
Liontown — Q4 FY2025 Earnings Presentation
26 slides from Liontown's earnings presentation, Jul 29, 2025
Slide 1: June Quarter FY25 Presentation
June Quarter FY25 Presentation 29 July 2025 ASX: LTR | ltresources.com.au
Slide 2: Important Information
Important Information IMPORANT INFORMATION NOTICE AND DISCLAIMERS NO FINANCIAL PRODUCT ADVICE This investor presentation (Presentation) is dated 29 July 2025 and has been prepared by Liontown Resources Limited (ACN 118 This Presentation is for information purposes only and is not a prospectus, discl
Slide 3: We continue to deliver on our strategy
We continue to deliver on our strategy Delivering in ramp up and low price environment 1 The best strategies – Agile and responsive to a 36% fall in spodumene price over 12 months to 30 June endure the cycles; – November 2024 revised mine plan focused on optimising the mining and processing schedule
Slide 4: We continue to deliver on our strategy
We continue to deliver on our strategy Delivering in ramp up and low price environment 1 The best strategies – Agile and responsive to a 36% fall in spodumene price over 12 months to 30 June endure the cycles; – November 2024 revised mine plan focused on optimising the mining and processing schedule
Slide 5: FY25 continuing to show our capability to deliver…
FY25 continuing to show our capability to deliver… Delivered tangible progress across safety, with fewer Final brow of first stope after ore extracted injuries (vs FY24). Improved environmental and local Strengthened ESG delivery community engagement initiatives alongside operational ramp-up >320kwm
Slide 6: Strengthened ESG delivery in Q4 FY25
Strengthened ESG delivery in Q4 FY25 Fewer injuries were recorded in FY25 vs FY24. Improving both lead and lag indicators remains a key focus for FY26 Safety Safety LTIFR1 TRIFR1 Observations 0.92 6.93 2.61 (previous quarter: 1.13) (previous quarter: 6.78) (previous quarter: 2.36) ESG Diversity Rene
Slide 7: Physical highlights | Q4 and FY25
Physical highlights | Q4 and FY25 Strong operational performance with over 294,000 dmt (>320,000 wmt) of spodumene concentrate at 5.2% grade produced in FY25 (11 months). Q4 FY25 FY252 Concentrate Production Concentrate Sales Concentrate Production Concentrate Sales 85,892 dmt 97,330 dmt 294,521 dmt
Slide 8: Underground production underway marking a solid foundation for transition
Underground production underway marking a solid foundation for transition Early underground success sets the stage for FY26 ramp-up; focus now on bulk mining thick, high-quality stopes Excellent ground Excellent geotechnical conditions, no dewatering required and conditions ground support in line wi
Slide 9: OSP to product: Fourth-gen plant delivers on performance and flexibility
OSP to product: Fourth-gen plant delivers on performance and flexibility Took decisive action in Validated investment in best-in-class flexible flotation Concentrate quality vs feed Gabbro content Daily weighted average, 1 Nov 24 – 30 Jun 25 response to low price processing plant %Li2O • November 20
Slide 10: Financial highlights | Q4 and FY25
Financial highlights | Q4 and FY25 FY25 performance underscores operational resilience in volatile market. Q4 FY25 FY252 Net cash from operating activities Cash balance6 A$23M A$156M Driven by strong operational performance; Full year net cash Strong cash balance maintained, with ~11,000dmt of from
Slide 11: Resilient cash position and cost discipline in challenging market
Resilient cash position and cost discipline in challenging market All-in sustaining cash cost Cash movement in Q4 FY25 Operational activities delivers A$1,099/dmt sold All figures in A$m positive cash flow (A$ 1,227/dmt sold reported AISC) A$109M Cash flows from operating activities Cash flows from
Slide 12: H2 FY25 guidance scorecard
H2 FY25 guidance scorecard H2 FY25 Metric Units H2 FY25 H2 FY25 guidance issued in November 2024 shortly Guidance after first production Concentrate sold SC6 kdmt 165 170 - 185 • Concentrate sold delivered within 3% of guidance • Concentrate produced delivered within 9% of guidance. OSP processing i
Slide 13: We continue to deliver on our strategy
We continue to deliver on our strategy Delivering in ramp up and low price environment 1 The best strategies – Agile and responsive to a 36% fall in spodumene price over 12 months to 30 June endure the cycles; – November 2024 revised mine plan focused on optimising the mining and processing schedule
Slide 14: FY26 | Mining and processing ready for transition and growth
FY26 | Mining and processing ready for transition and growth Mining Continuing to ramp up Australia's first underground lithium mine • Initial enabling infrastructure complete by end of Q1 FY26 • On track to bring >40kt stopes online during H2 FY26 as UG ramp-up continues • Access to final high-qual
Slide 15: FY26 | A tale of two halves, performance improving in H2 as UG ramps up
FY26 | A tale of two halves, performance improving in H2 as UG ramps up Value accretive action taken to set a strong foundation for long-term value FY26 -Transitioning towards long-term advantage FY27+ - Unlocking Kathleen Valley’s Full Potential Annualised run-rate Annualised run-rate Annualised ru
Slide 16: FY26 Guidance: Transition now, lower costs ahead
FY26 Guidance: Transition now, lower costs ahead FY26 guidance12 reflects transition to underground with unit costs expected to trend lower from FY27 FY26 is a transition year: open pit operations end Dec 2025; underground ramp-up continues Continue to leverage the prior investment in ROM stockpiles
Slide 17: Key takeaway | FY26 transitions Kathleen Valley to be low cost and scalable from FY27
Key takeaway | FY26 transitions Kathleen Valley to be low cost and scalable from FY27 Designed for scale De-risk ramp up Lower cost per tonne Ready for low-capital • Dual decline (up and down) design • Positioned to deliver high ore • With 100% underground and vertical ore body - higher tonnes per c
Slide 18: We continue to deliver on our strategy
We continue to deliver on our strategy Delivering in ramp up and low price environment 1 The best strategies – Agile and responsive to a 36% fall in spodumene price over 12 months to 30 June endure the cycles; – November 2024 revised mine plan focused on optimising the mining and processing schedule
Slide 19: Business optimisation | Continuing the relentless focus on reducing costs
Business optimisation | Continuing the relentless focus on reducing costs In FY25 we exceeded our cost out target, finding A$112M of savings and deferrals, but there is more to come in Phase 2 In FY25 we… …saving In FY26 we will… Continue to embed further cost- Streamlined saving and deferral opport
Slide 20: Debt | Low cost, long dated, with flexibility
Debt | Low cost, long dated, Ford with flexibility A$300M debt facility secured from Ford for project development: balance of $336M incl capitalised interest at 30 June 2025 (unaudited) 60% of principal amortised over five years, with a 40% balloon payment due in mid 2030 Interest rates capitalised
Slide 21: Lithium demand remains strong - short-term signs of supply tightening
Lithium demand remains strong - short-term signs of supply tightening Lithium demand has been robust in the face of macro-economic uncertainty and trade wars creating continued policy uncertainty across major expected growth markets like North America Chinese Government showing policy shift to Globa
Slide 22: We continue to deliver on our strategy
We continue to deliver on our strategy Delivering in ramp up and low price environment 1 The best strategies – Agile and responsive to a 36% fall in spodumene price over 12 months to 30 June endure the cycles; – November 2024 revised mine plan focused on optimising the mining and processing schedule
Slide 23: For more information:
For more information: Leanne Kite 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 22
Slide 24: Appendix A: Physicals summary
Appendix A: Physicals summary Mining Units Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 YTD FY25 Open pit ore mined kt 590 1,138 555 165 2,448 Open pit waste mined kt 3,368 1,506 1,913 2,241 9,028 Strip ratio (BCM) waste:ore 5.1 1.2 3.3 12.8 3.4 Average Li2O grade mined (open pit) % 1.2 1.3 1.0 1.1 1.2 Undergrou
Slide 25: Appendix B: Quarterly operational and financial metrics
Appendix B: Quarterly operational and financial metrics Production and Sales Units Q4 FY25 Q3 FY25 Δ (%) YTD FY252 Concentrate production dmt 85,892 95,709 (10) 294,521 Concentrate sales dmt 97,330 93,940 4 283,443 Average Li2O grade shipped % 5.2 5.2 - 5.2 Concentrate inventories dmt 11,081 22,519
Slide 26: Appendix C: Notes
1. LTIFR: Lost Time Injury Frequency Rate; TRIFR: Total Reportable Injury Frequency Rate representative of rolling annual averages. 2. Production commenced 31 July 2024; 11 months of production 3. Based on accredited site laboratory assays managed by SGS Australia Pty Ltd 4. OSP: Ore Sorting Product