Vulcan Energy Resources Ltd. · ASX:VUL
Vulcan Energy Resources — Investor Presentation (July 2025)
26 slides from Vulcan Energy Resources's investor presentation, Jul 29, 2025
Slide 1: Australian Shareholders' Association
For personal use only Australian Shareholders’ Association DETERMINED FOR A 29 July 2025 ASX/FSE: VUL BETTER TOMORROW
Slide 2: Disclaimer
DISCLAIMER1 Disclaimer, acknowledgement and agreement. Vulcan, to the maximum extent permitted by law, expressly excludes and disclaims all liability (including, without limitation, any liability arising out of fault or negligence on the part of any person) for any direct, indirect, consequential or
Slide 3: Investment Highlights
INVESTMENT HIGHLIGHTS Low cost, sustainable and optimally positioned for EU market For personal use only 9 Globally significant lithium and renewable energy project with an initial 30-year project life just from Phase One, and 29.1 Mt LCE Resource1 9 Low-cost, energy-generative lithium project benef
Slide 4: Powering Ahead: Europe's Battery Projects on the Rise
POWERING AHEAD: EUROPE’S BATTERY PROJECTS ON THE RISE No existing supply of lithium chemicals from Europe – Vulcan vital to secure local supply The European battery industry is robust and continues to grow European Cell (LHS) a n d C A M plants For personal use only # Owner Status # Owner Status O p
Slide 5: Result: European Market Structurally Short of Lithium
RESULT: EUROPEAN MARKET STRUCTURALLY SHORT OF LITHIUM Lithium supply in a structurally short market Global Supply / Demand Balance For personal use only Expected global supply shortfall for LHM relative to growth rates in lithium battery production Supply/demand balance even more acute in Europe, wh
Slide 6: World-Class Lithium & Geothermal District
Industrie-Park Höchst Downstream LHM production Ability to expand to 3 phases WORLD-CLASS LITHIUM & GEOTHERMAL DISTRICT Frankfurt Ability to expand with low cost, sustainable production For personal use only • Global tier-one lithium resource, and largest in Europe: 29.1 Mt LCE estimated in 10 of Vu
Slide 7: A Snapshot: Lionheart Phase One in figures
A SNAPSHOT Lionheart Phase One in figures1 For personal use only €3.5bn 21.7% €756m Pre-tax NPV Pre-tax IRR Average revenues p.a. Vulcan’s Lionheart produces both baseload geothermal energy and lithium hydroxide 24kt LHM for electric vehicle (EV) batteries from the 29.1 Mt LCE 30 years 275GWh power
Slide 8: Integrated Brine-to-Battery Solution
INTEGRATED BRINE-TO-BATTERY SOLUTION Renewable energy driving sustainable lithium production 275GWh power LiCl concentrate for 24,000tpa Phase one For personal use only 560GWh heat1 24,000tpa LHM equivalent LHM1 2. Well 3. Geothermal 4. Lithium Extraction Plant 5. Central Lithium Plant Electric site
Slide 9: Vulcan's Phase One Project: Lionheart
VULCAN'S PHASE ONE PROJECT: LIONHEART Low cost, sustainable integrated lithium and energy production from Europe, for Europe For personal use only 2 3 4 1 9 1 Vulcan’s 100% owned Insheim Geothermal Power Plant and wells 2 Operating well site and Lithium 3 G-LEP – Option agreement signed to secure si
Slide 10: Europe's First Domestic Resource to LHM Supply Chain Is Proven
EUROPE’S FIRST DOMESTIC RESOURCE TO LHM SUPPLY CHAIN IS PROVEN LEOP and CLEOP offer a strategically-located, integrated lithium extraction and refining solution CLEOP - Operational Central Lithium Electrolysis CLEOP For personal use only Optimisation Plant Phase One ++ downstream Frankfurt • Product
Slide 11: Vulcan Targeting the Lowest Quartile of the Lithium Cost Curve
VULCAN WILL BE TARGETING THE LOWEST QUARTILE OF THE LITHIUM COST CURVE Powered by low cost, highly efficient A-DLE production that leverages renewable heat For personal use only Global projected lithium hydroxide C1 cost curve Brine Integrated Spodumene - RoW Integrated Mica Integrated Spodumene - A
Slide 12: Supplying the European Auto Industry
- SUPPLYING THE EUROPEAN AUTO INDUSTRY Fully contracted lithium production drives pricing stability1 For personal use only • Low counterparty risk: high quality European-focused offtake partners • Long term relationships: all offtake agreements binding, take-or-pay, with agreed pricing mechanisms, 5
Slide 13: EPCM Partner Validation Exercise Completed
EPCM PARTNER VALIDATION EXERCISE COMPLETED Improved scope definition leading to reduced uncertainty and risk during execution, all with no material change to CAPEX For personal use only • EPCM/ integrator: review of scope, cost and schedule, validating the BES, with no material increase in capital r
Slide 14: Phase One Financing
PHASE ONE FINANCING1 Vulcan continues to see strong support from the public and private sector Targeted FID For personal use only H2 2025 ZĞŶĞǁĂďůĞ >ŝƚŚŝƵŵ dĞĐŚŶŽůŽŐLJ July 20252 Awarded €104m (~A$186m) from Total Project funding package ~€2.2bn Germany’s federal and state including capex ~€1.4bn gov
Slide 15: A Clear Leader in Sustainability
A CLEAR LEADER IN SUSTAINABILITY For personal use only Phase One will: Produce enough lithium for ca. 500,000 electric vehicles p.a.(2) Avoid 10Mt CO2 eq. through decarbonizing the lithium supply chain(3) Produce renewable heat Environmental and Social Impact Assessment (ESIA) for ca. 90,000 people(
Slide 16: Pipeline Progress: Decarbonising the World's Largest Chemical Site
PIPELINE PROGRESS: DECARBONISING THE WORLD’S LARGEST CHEMICAL SITE1 A blueprint for Vulcan's future phase developments to support Europe's energy transition For personal use only Phase One ++ downstream Central Lithium Plant planned location Frankfurt • Owner of lithium production • Future heat offt
Slide 17: The Key to Unlock Low-Cost Western A-DLE Lithium Globally
– THE KEY TO UNLOCK LOW-COST WESTERN A-DLE LITHIUM GLOBALLY Opportunity to grow VULSORB® technology business - a high-performance bankable A-DLE technology offering several sustainability benefits in a growing lithium brine market For personal use only High performance Commercially Environmentally F
Slide 18: Key Lionheart Project Achievements in Last Months
KEY LIONHEART PROJECT ACHIEVEMENTS IN LAST 9 MONTHS A transformational period for the Project For personal use only 9 Production of battery-quality lithium hydroxide monohydrate (LHM) Project achievements 9 Vulcan awarded EU Strategic Project status under the Critical Raw Materials Act 9 Commenced t
Slide 19: Vulcan Update
VULCAN UPDATE Diving into Vulcan most recent developments1 For personal use only ORC and substation Strategic €30m LEOP start of building permit placement to BNP production received Paribas Clean Energy Vulcan entered into a Solutions Fund and staged agreement select group of Vulcan and with BASF to
Slide 20: Key Remaining Targets for 2025
KEY REMAINING TARGETS FOR 2025 Focus on maintaining strong momentum For personal use only o Final decision on German Raw Materials fund equity participation o Finalising project financing package2 o Awarding/ signing of major contracts o Start of commercial construction of Phase One o Start LHM qual
Slide 21: May 2025: Start of New Phase One Production Wells near Landau
For personal use only MAY 2025: START OF NEW PHASE ONE PRODUCTION WELLS NEAR LANDAU, GERMANY @VulcanEnergyRes http://v-er.eu 21 21 21 2
Slide 22: Board of Directors
BOARD OF DIRECTORS Major project, technical and finance experience at Board and Executive level For personal use only Executive Directors Dr Francis Wedin Cris Moreno Felicity Gooding Executive Chair, Founder Managing Director and Executive Director and Group CEO Group CFO Non-Executive Directors An
Slide 23: Appendices
For personal use only APPENDICES
Slide 24: Appendix 1: Disclaimer
APPENDIX 1: DISCLAIMER No investment or financial product advice. This Presentation, and the information provided in it, does not constitute, and is not intended to constitute, financial product or investment advice, or a recommendation to acquire Vulcan Shares, nor does it constitute, and is not in
Slide 25: Appendix 1: Disclaimer cont.
APPENDIX 1: DISCLAIMER CONT. Ore Reserves and Mineral Resources Reporting. It is a requirement of the ASX Listing Rules that the reporting of ore reserves and mineral resources in Australia comply with the Joint Ore Reserves Committee's Australasian Code for Reporting of Mineral Resources and Ore Re
Slide 26: Appendix 2: LCA Assumptions
APPENDIX 2: LCA ASSUMPTIONS All foreground data for the ISO compliant Life Cycle Assessment (LCA) is sourced from Vulcan’s 2023 Bridging Engineering Study. The process design is assumed to be fully electrified. No fossil fuels are directly burned on site in the lithium production process. All backgr
Vulcan Energy Resources — Investor Presentation (July 2025) on 6ix