Fulcrum Lithium Ltd. · ASX:FUL
Fulcrum Lithium — Shareholder Meeting (November 2025)
14 slides from Fulcrum Lithium's shareholder meeting presentation, Nov 27, 2025
Slide 1: Annual General Meeting
Annual General Meeting 27 November 2025
Slide 2: Disclaimer
Disclaimer Important Legal Information This presentation has been prepared by Fulcrum Lithium Ltd (ABN 23 665 528 307) (FUL). The information contained in this presentation is for information purposes only and has been prepared for use in conjunction with a verbal presentation and should be read in
Slide 3: Agenda
Agenda 1. Post-IPO Recap 2. Alkali Flats Discovery 3. Alkali Flats Appraisal Program 4. Metallurgy 5. Dry Canyon Project 6. Forward Program STRICTLY PRIVATE AND CONFIDENTIAL 3
Slide 4: Fulcrum Lithium – a rapidly advancing US lithium player
Fulcrum Lithium – a rapidly advancing US lithium player Investment highlights Fulcrum Projects Discovery in the heart of Significant lithium claystone discovery proximal and Nevada’s “lithium belt” on trend with, significant US lithium projects. Rapidly moving from exploration to appraisal Rapidly
Slide 5: Post-IPO Recap - From Exploration to Appraisal
Post-IPO Recap - From Exploration to Appraisal Operational highlights Location of operations • Nov 2024 – ASX IPO • Dec 2024 – Alkali Flats maiden drilling campaign • 14 holes, proved Alkali Flats is a lithium basin • Feb-Mar 2025 – Geological mapping program across 3 projects • Jun 2025 • Alkali Fl
Slide 6: Alkali Flats Phase 2 Drilling Program - Discovery
Alkali Flats Phase 2 Drilling Program - Discovery Phase 2 Drilling Highlights • 10 RC holes totalling 1666m in June 2025 • Lithium mineralisation >300ppm in all Seibert intersections (8 holes) • Discovery of significant scale confirmed: • Significant grades: ~450-1050ppm Li (average 622ppm Li) • Sig
Slide 7: Alkali Flats Phase 2 Drilling Program - Discovery
Alkali Flats Phase 2 Drilling Program - Discovery Phase 2 Drilling Highlights • Scoping metallurgical study on RC cuttings completed • Alkali Flats’ clay comparable with nearby projects • Permitting work commenced for Phase 3 infill and step-out drilling program (30-40 holes including core holes) •
Slide 8: Geophysics - CSAMT Survey
Geophysics - CSAMT Survey CSAMT Highlights CSAMT Survey Results • In October 2025, acquired 25km of 2D Controlled- Source Audio-Frequency Magnetotelluric (CSAMT) data • High-quality data calibrated to Phase 2 drilling results • High-confidence extension of known lithium claystones discovered in Phas
Slide 9: Initial Metallurgy Results
Initial Metallurgy Results Metallurgy Program Overview Metallurgy Results • Initial scoping metallurgy program comparing higher grade, lower grade and non-mineralised clays (control zones) within the Alkali Flats project • To understand leachability, mineralogy and particle size and guide future det
Slide 10: Alkali Flats Phase 3 Appraisal Drilling Program
Alkali Flats Phase 3 Appraisal Drilling Program Phase 3 Overview Phase 3 Drill Planning • Key objectives: • Infill and step-out appraisal data from Phase 2 discovery holes to deliver a maiden resource estimate in Q1 2026 • Provide comprehensive core data for detailed metallurgical testing and resour
Slide 11: Maiden Resource Estimate Work Program
Maiden Resource Estimate Work Program Process and Inputs Alkali Flats 3D Geological Model • Phase 3 infill and step-out drilling program (30-40 holes including core holes) to complement existing Phase 2 drilling discovery holes • CSAMT data crucial input for structural data • Drill core data for den
Slide 12: Dry Canyon - High impact exploration
Dry Canyon - High impact exploration Dry Canyon Project Overview Dry Canyon Geology • Highly prospective new lithium claystone Dry Canyon Surface Sampling Assay Results exploration project • 201 claims covering 17km2 in Lander County, Caetano Nevada, staked and filed with the USA BLM Caldera • High-
Slide 13: Forward Plan
Forward Plan Near Term Activity and Catalysts • Alkali Flats • Dry Canyon • January 2026: Phase 3 Drilling Program • Q4 2025: Drilling target and drill program • Q1 2026: Maiden JORC Resource Estimate planning • Q1 2026: Detailed Metallurgical Studies • Q1 2026: Maiden drilling program STRICTLY PRIV
Slide 14: THANK YOU
THANK YOU For further information, please contact: Scott Keenan Chief Operating Officer Fulcrum Lithium Ltd +61 2 9300 3377 STRICTLY PRIVATE AND CONFIDENTIAL 14
Fulcrum Lithium — Shareholder Meeting (November 2025) on 6ix