Slide 1: Kathleen Valley Site Tour
For personal use only Kathleen Valley Site Tour 31 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: The best strategies endure the cycles; ours is unchanged
The best strategies endure the cycles; ours is unchanged For personal use only Kathleen Valley Downstream Expansion Liontown Full Potential Full Potential Become a vertically integrated Expand portfolio through supplier to capture higher organic growth, value accretive Become a globally significant
Slide 4: Kathleen Valley Milestones
Kathleen Valley Milestones For personal use only Nov 2021 Oct 2022 Nov 2023 Sep 2024 Tjiwarl Native Earthworks First portal blast at First shipment to Title Agreement commence underground customers 1 2 3 4 5 6 7 8 Apr 2025 Feb 2023 Jul 2024 Jun 2022 Underground Open pit mining First production of Fi
Slide 5: Watch online video
For personal use only Watch online: youtu.be/Ot0gDTFMW_g 4
Slide 6: Kathleen Valley today
Dragonfly Village Kathleen Valley 95MW Hybrid Power Station today 32MW Solar farm 6MW Wind Turbines 18MW BESS For personal use only At this site, to-date, we have delivered: Lined Project on time in just 2.5 years, with Tailings Dam 3.8 million total work hours 4Mtpa Mt Mann open pit Paste Plant Fir
Slide 7: Delivering Today, Building for Tomorrow
Delivering Today, Building for Tomorrow For personal use only 1 2 Section 1: FY25 – Continuing to show our capability to deliver Section 2: FY26 – Transitioning towards long-term advantage – Strengthened ESG delivery – 100% underground production planned by Q3 FY26 – Over 294,000 dmt concentrate pro
Slide 8: FY25 - Strengthened ESG delivery
FY25 - Strengthened ESG delivery Fewer injuries were recorded in FY25 vs FY24. Improving both lead and lag indicators remains a key focus for FY26 For personal use only Safety Safety LTIFR1 TRIFR1 Observations 0.92 6.93 2.61 (previous quarter: 1.13) (previous quarter: 6.78) (previous quarter: 2.36)
Slide 9: Physical and Financial highlights | FY25
Physical and Financial highlights | FY25 Strong operational performance with over 294,000 dmt (>320,000 wmt) of spodumene concentrate at 5.2% grade produced in FY25 (11 months), underscoring resilient financial results in a volatile market For personal use only Physical Highlights2 Financial Highlig
Slide 10: 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 For personal use only Excellent ground Excellent geotechnical conditions, no dewatering required and conditions gro
Slide 11: OSP8 to product: Fourth-gen plant delivers on performance and flexibility
OSP8 to product: Fourth-gen plant delivers on performance and flexibility For personal use only 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 pl
Slide 12: FY26 | Mining and processing ready for transition and growth
FY26 | Mining and processing ready for transition and growth For personal use only 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 • Acc
Slide 13: Mining | Executing a seamless transition to underground operations
Mining | Executing a seamless transition to underground operations Open Pit on-track to be completed Mill feed to be 100% underground by For personal use only by December 2025 end Q1 FY27 Open pit mining commenced in February 2023: Continued focus on ramp-up of UG operations and consistent ore deliv
Slide 14: Mining | Bulk tonnes driving high productivity and lowering costs
Mining | Bulk tonnes driving high productivity and lowering costs For personal use only Mt. Mann scheduled and contained ore by mine level Million Tonnes Driving efficient, high-margin operations, resulting in long-term low-cost production 0 1 2 3 4 5 6 60 Density 85 ~77kt of ore per vertical metre,
Slide 15: FY26 | A tale of two halves, performance improving in H2
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 For personal use only FY26 -Transitioning towards long-term advantage FY27+ - Unlocking Kathleen Valley’s Full Potential Annualised run-rate Annualised
Slide 16: Underground | Bulk tonnes moved, less waste and simpler operations = low cost
Underground | Bulk tonnes moved, less waste and simpler operations = low cost Designed for scale De-risk ramp up Lower cost per tonne For personal use only Ready for low-capital • Dual decline (up and down) design • Positioned to deliver high ore • With 100% underground and vertical ore body - highe
Slide 17: Processing | Further enhancing the capability of our fourth-generation plant
Processing | Further enhancing the capability of our fourth-generation plant For personal use only Planned maintenance and ROM Continuing to invest in state-of-the art restructuring commencing optimisation technologies • Continued OSP processing in H1 Focus on real-time grind-size FY26 to manage sto
Slide 18: 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 17
Slide 19: Footnotes
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. The Company’s cash balance excludes a further $25 million which is held by Export Finance Australia (EF