Lithium Africa Corp. · TSXV:LAF
Lithium Africa — Investor Presentation (October 2026)
27 slides from Lithium Africa's investor presentation, Oct 20, 2026
Slide 1: Defining The African Lithium Frontier
TSX-V: LAF · FSE: 6MQ · OTCQB: LTAFF Defining The African Lithium Frontier Small-scale production funding large-scale exploration LI-AFRICA.COM OCTOBER 2026
Slide 2: The investment case
TSX-V: LAF · FSE: 6MQ · OTCQB: LTAFF WHY LITHIUM AFRICA The investment case A mine with its mining permit in place, a team from Lithium Americas and Lithium Argentina, and a lithium major as partner. MODEL TEAM PARTNER Self-funding LAC · LAR · LRC Ganfeng 13.2% Small-scale production funding large-s
Slide 3: Near-term catalysts: Why now
TSX-V: LAF · FSE: 6MQ · OTCQB: LTAFF NEAR-TERM CATALYSTS Why now Three targeted catalysts in the next twelve months: drill results, a non-dilutive project financing at Springbok, and first production, at a point in the cycle where lithium equities have given back the 2026 rally. 6,500 m LITHIUM EQUI
Slide 4: Small-scale production intended to fund large-scale exploration
TSX-V: LAF · FSE: 6MQ · OTCQB: LTAFF OUR MODEL Small-scale production intended to fund large-scale exploration A permitted mine pays for the drilling, and the drilling finds the next mine. Shareholders are not diluted for either. 1 2 3 4 Permitted mine Spodumene concentrate Cash flow Discovery Sprin
Slide 5: Discovery is what drives the returns
TSX-V: LAF · FSE: 6MQ · OTCQB: LTAFF WHY EXPLORATION Discovery is what drives the returns In exploration, the value inflection arrives at discovery, long before production. The re-rating follows the drill bit, and small-scale production is intended to keep LAF drilling toward multiple potential disc
Slide 6: Targeting about a year to first concentrate, not a decade
TSX-V: LAF · FSE: 6MQ · OTCQB: LTAFF TIME TO PRODUCTION Targeting about a year to first concentrate, not a decade Springbok is targeting production in 2027 because it starts from a permitted, past-producing mine with spodumene already on the surface, subject to the PEA, permits and financing. From d
Slide 7: A permitted mine inside a 1,675 km² lithium district
TSX-V: LAF · FSE: 6MQ · OTCQB: LTAFF SOUTH AFRICA · SPRINGBOK PROJECT A permitted mine inside a 1,675 km² lithium district Northern Cape, about 50 km north of the town of Springbok on the N7 corridor between Cape Town and Namibia. Lithium Africa holds a 70% interest through Namli Exploration & Minin
Slide 8: Path to first spodumene concentrate, targeted H2 2027
TSX-V: LAF · FSE: 6MQ · OTCQB: LTAFF SOUTH AFRICA · SPRINGBOK PROJECT Path to first spodumene concentrate, targeted H2 2027 Lithium Africa elected to process the Norrabees I stockpile and newly mined pegmatite in an on-site DMS plant rather than sell the stockpile as DSO. INDICATIVE TIMELINE Q4 2026
Slide 9: High-grade spodumene from surface at Norrabees I
TSX-V: LAF · FSE: 6MQ · OTCQB: LTAFF SOUTH AFRICA · SPRINGBOK PROJECT High-grade spodumene from surface at Norrabees I First drill results at Springbok: 6.0 m at 2.27% Li₂O (within 7.5 m at 1.97% from 18.5 m), including 8.0 m at 1.70% Li₂O including 4.0 m at 2.59% Li₂O. Downhole lengths; true widths
Slide 10: District-scale potential comparable to Brazil
TSX-V: LAF · FSE: 6MQ · OTCQB: LTAFF SOUTH AFRICA · SPRINGBOK PROJECT District-scale potential comparable to Brazil A 1,675 km² land position with spodumene-bearing pegmatites mapped over ~50 km of strike - 21 of them now being channel sampled. THE “LITHIUM VALLEY” MODEL - CONSOLIDATED UNDER LITHIUM
Slide 11: An emerging lithium district
TSX-V: LAF · FSE: 6MQ · OTCQB: LTAFF DRILL PROGRAM CÔTE D'IVOIRE · ADZOPÉ PROJECT ONGOING (ADZOPÉ ) An emerging lithium district 2,000 m 2 primary spodumene trends across ~485 km² licenses: Saby Trend at Adzopé (8.0 m at 1.10% Li₂O, and location of ongoing drilling) and the new 2.8 km Kanien Trend a
Slide 12: Among the lowest-cost lithium feedstock globally
TSX-V: LAF · FSE: 6MQ · OTCQB: LTAFF WHY AFRICA Among the lowest-cost lithium feedstock globally African spodumene sources offer the potential for low-capex, low-opex projects in favorable jurisdictions. Source: Benchmark Mineral Intelligence, Q1 2026 Lithium Forecast (C3, 2026, US$/t SC6). Third-pa
Slide 13: World-class geology, minimal exploration
TSX-V: LAF · FSE: 6MQ · OTCQB: LTAFF WHY AFRICA World-class geology, minimal exploration Same LCT pegmatite geology as Western Australia, Quebec, and Brazil – explored at a fraction of the intensity. INVESTMENT IN LITHIUM EXPLORATION HAS BEEN MINIMAL - ESPECIALLY IN AFRICA • Global exploration focus
Slide 14: A partnership built for Africa
TSX-V: LAF · FSE: 6MQ · OTCQB: LTAFF STRATEGIC PARTNERSHIP A partnership built for Africa LAF’s lithium and African deal-making expertise, combined with Ganfeng’s global lithium leadership. THE PARTNERSHIP JV STRUCTURE 50/50 JV with Ganfeng LAF CONTRIBUTES The exploration team behind the definition
Slide 15: A clean, aligned share structure
TSX-V: LAF · FSE: 6MQ · OTCQB: LTAFF CAPITAL STRUCTURE 16.4% 13.2% GFL 13.2% A clean, aligned share structure 6.2% Merk 6.2% Capital-light by design - production at Springbok is being financed at the project level, with Original LSC Shareholders 8.4% Ganfeng aligned as a major shareholder and JV par
Slide 16: Geologists, dealmakers, African operators
TSX-V: LAF · FSE: 6MQ · OTCQB: LTAFF LEADERSHIP Geologists, dealmakers, African operators A team assembled from major-producer operating depth and African exploration experience. Dr. Thomas Benson Carl Esprey Mamadou Coulibaly CEO & DIRECTOR EXECUTIVE CHAIRMAN DIRECTOR, HEAD OF WEST AFRICA Explored
Slide 17: Appendix
APPENDIX
Slide 18: Lithium is off its 2025 floor, and the market is in deficit
TSX-V: LAF · FSE: 6MQ · OTCQB: LTAFF APPENDIX · LITHIUM MACRO Lithium is off its 2025 floor, and the market is in deficit Benchmark Mineral Intelligence's price history and base-case forecast, and its global supply-demand balance. Quarterly averages bottomed in Q2 2025 and have more than doubled sin
Slide 19: Twelve months of targeted milestones
TSX-V: LAF · FSE: 6MQ · OTCQB: LTAFF CATALYSTS · Q4 2026 - H2 2027 Twelve months of targeted milestones Every milestone from here is either a step toward a production decision at Springbok or a drill result across the portfolio. 1 2 3 4 5 Q4 2026 Q4 2026 H1 2027 H1 2027 H1 2027 to H2 2027 Springbok
Slide 20: The Lithium Africa Portfolio
TSX-V: LAF · FSE: 6MQ · OTCQB: LTAFF PORTFOLIO The Lithium Africa Portfolio A generative pipeline across Africa, anchored by Springbok (advancing to production) and the Adzopé District in Côte d’Ivoire (drilling). PORTFOLIO AT A GLANCE ANCHORED BY TWO ADVANCED PROJECTS Springbok (RSA) & Adzopé (CDI)
Slide 21: Operating responsibly
TSX-V: LAF · FSE: 6MQ · OTCQB: LTAFF SUSTAINABILITY Operating responsibly Exploration done in partnership with host countries and local communities - building local capability as we advance. >75% RESEARCH OPEN AFRICAN WORKFORCE, LOCALLY HIRED STELLENBOSCH PARTNERSHIP COMMUNITY DIALOGUE The majority
Slide 22: Well-rounded team equipped to drive growth
TSX-V: LAF · FSE: 6MQ · OTCQB: LTAFF LEADERSHIP Well-rounded team equipped to drive growth A team assembled from major-producer operating depth and African exploration experience. Tyron Breytenbach Chris O’Connor Blake Hylands CAPITAL MARKETS ADVISOR GENERAL COUNSEL DIRECTOR English lawyer with 20+
Slide 23: Cautionary Statements
TSX-V: LAF · FSE: 6MQ · OTCQB: LTAFF CAUTIONARY STATEMENTS Cautionary Statement Regarding the Springbok Production Decision The Company’s decision to advance Springbok toward production is not based on a feasibility study of mineral reserves demonstrating economic and technical viability, and there
Slide 24: Disclaimer
TSX-V: LAF · FSE: 6MQ · OTCQB: LTAFF DISCLAIMER This corporate presentation (the “Presentation”) has been prepared by Lithium Africa Corp. (the “Company”) as of October 20, 2026. The information contained in this Presentation (a) is provided as at the date hereof and is subject to change without not
Slide 25: Disclaimer: Comparables
TSX-V: LAF · FSE: 6MQ · OTCQB: LTAFF DISCLAIMER Comparables Certain information presented herein compares the Company to other issuers and such data sets are considered to be “comparables”. Comparable information about other issuers contained in this Presentation was obtained from public sources and
Slide 26: References: lithium resource comparables
TSX-V: LAF · FSE: 6MQ · OTCQB: LTAFF REFERENCES Deposit Company Country Year Resource (M+I+I) Reference Africa — hard rock Roche Dure AVZ Minerals DR Congo 2024 669 Mt @ 1.61% Li₂O AVZ Minerals — JORC MRE, ASX release 31 Jan 2024 Carrière de l'Est* Zijin Mining DR Congo 2024 173 Mt @ 1.58% Li₂O AVZ
Slide 27: investors@li-africa.com
investors@li-africa.com www.li-africa.com
Lithium Africa — Investor Presentation (October 2026) on 6ix