Vulcan Energy Resources Ltd. · ASX:VUL
Vulcan Energy Resources — Shareholder Meeting (May 2025)
33 slides from Vulcan Energy Resources's shareholder meeting presentation, May 28, 2025
Slide 1: Annual General Meeting
For personal use only Cris Moreno, Managing Director and CEO Annual General Meeting DETERMINED FOR A 28 May 2025 BETTER TOMORROW ASX/FSE: VUL
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: Agenda
AGENDA 1. Company overview For personal use only 2. Year in review 3. Lithium market 4. Strategic direction 5. Targets 2025 3
Slide 4: 1. Company overview
For personal use only 1. Company overview
Slide 5: Vulcan values: high quality strategic shareholders
EMPOWERING A CARBON NEUTRAL FUTURE Vulcan values High quality strategic shareholders ASX/FSE Prime Standard / VUL CLIMATE CHAMPION For personal use only Shares on issue / ~218m DETERMINED Market Capitalisation1 / ca. €506m (A$889.9m)2 INSPIRING Cash3 / €78.8m (~A$141m) High quality strategic shareho
Slide 6: Vulcan company snapshot - Phase One project: Lionheart
VULCAN COMPANY IN A SNAPSHOT - PHASE ONE PROJECT: LIONHEART Low cost, sustainable integrated lithium and energy production from Europe, for Europe 2 3 For personal use only 4 1 6 1 Vulcan’s 100% owned Insheim Geothermal Power Plant and wells 2 Operating well site and Lithium 3 G-LEP – Option agreeme
Slide 7: 2. Year in review
For personal use only 2. Year in review
Slide 8: Recent key achievements
RECENT KEY ACHIEVEMENTS Transformational period for Phase One Lionheart Project Start of production at downstream lithium hydroxide optimisation plant For personal use only Vulcan awarded €100m (A$162m) from the Federal Ministry of Economics and Climate Protection for its HEAT4LANDAU Project Vulcan
Slide 9: Awarding of EU Strategic Project status
AWARDING OF EU STRATEGIC PROJECT STATUS Major signal of the importance of Phase One Lionheart Project The European Commission awarded Vulcan Energy with Strategic Project For personal use only status in March 2025, reflecting the Phase One Lionheart Project’s alignment with the objectives of the Cri
Slide 10: High performer
HIGH PERFORMER Best performing lithium stock since 2024 1 2 3 4 5 6 7 8 9 10 11 11 Apr-24 17 May-24 3 Jun-24 8 Aug-24 9 Aug-24 25 Oct-24 8 Nov-24 12 Nov-24 12 Dec-24 13 Jan-25 25 Mar-25 For personal use only LEOP start of Announce final Vulcan receives CLEOP start of Announcement Vulcan awarded CLEO
Slide 11: Strong policy tailwinds
STRONG POLICY TAILWINDS European and German policy initiatives EU Battery Passport1 – adopted July 2023 For personal use only Critical Raw Materials Act (CRMA) 2– entered into force 23 May 2024 Net Zero Industry Act (NZIA) 3 – entered into force 29 June 2024 Strategic Project Status4 – awarded 26 Ma
Slide 12: A clear leader in sustainability
A CLEAR LEADER IN SUSTAINABILITY Phase One targets: For personal use only Produce enough lithium for ca. 500,000 electric vehicles p.a.2 Avoid 10Mt CO2 eq. through decarbonising the lithium supply chain3 Targeting renewable heat for ca. 90,000 Environmental and Social Impact Assessment people4 (ESIA
Slide 13: Uniquely positioned
UNIQUELY POSITIONED Poised to capture the next phase of growth1 Strong customer relationships: Vulcan has offtake agreements with tier-one European counterparties covering majority of first ten years of For personal use only production2, reduces pricing and market risk Tier-one asset: 30-year projec
Slide 14: Optimisation and qualification: upstream
OPTIMISATION AND QUALIFICATION: UPSTREAM Europe’s first fully-domestic production of lithium chemicals1 Start of Production of LiCl began in April 2024, using Adsorption-Type DLE For personal use only Up to 95% lithium extraction efficiency, already producing to specification using Vulcan’s propriet
Slide 15: Optimisation and qualification: downstream
OPTIMISATION AND QUALIFICATION: DOWNSTREAM Operations team training and fast-tracking product qualification Start of production of lithium hydroxide at CLEOP commenced in parallel with the official opening of the plant in November 2024 For personal use only Located in Industrie-Park Höchst, Vulcan’s
Slide 16: EPCM partner validation exercise completed
EPCM PARTNER VALIDATION EXERCISE COMPLETED Much 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 capita
Slide 17: Phase One financing
PHASE ONE FINANCING1 Structuring banks Strong support from public and private sector €879m (~A$1.45bn) conditional debt commitment letter signed in December with For personal use only Export Finance Australia and a commercial lending group of seven banks European Investment Bank Board approval recei
Slide 18: 3. Lithium market
For personal use only 3. Lithium market
Slide 19: Powering ahead: Europe's battery projects on the rise
POWERING AHEAD: EUROPE’S BATTERY PROJECTS ON THE RISE No existing supply of lithium from Europe – Vulcan critical to secure local supply The European battery industry is robust and # Owner O p e r a t i n g cell plants Status European Cell (LHS) a n d C A M plants # Owner Status ( R HS) O p e r a t
Slide 20: Rio Tinto strongly committed to A-DLE in lithium brines
RIO TINTO STRONGLY COMMITTED TO A-DLE IN LITHIUM BRINES Rio has recently invested ~US$ 11.3bn (~A$ 17.2bn) in A-DLE related projects and technologies Counterparties For personal use only Rio’s A-DLE play Acquisition/Investment1,2 Acquisition3,4,5 Joint Venture6 Joint Venture7 • In early 2025, Rio fi
Slide 21: VULSORB - the key to unlock low-cost Western A-DLE lithium globally
VULSORB® – 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 Environm
Slide 22: 4. Strategic direction
For personal use only 4. Strategic direction
Slide 23: A premium industry-leading lithium product for battery electric vehicles
For personal use only A premium industry-leading lithium product for battery electric vehicles V is for Vulcan. We strive to be climate champions Li is for high purity, sustainable* and versatile, battery- quality lithium products O is for zero fossil fuels directly used in our onsite process to pro
Slide 24: Focus areas for value creation
FOCUS AREAS FOR VALUE CREATION Phase One creates base for a leading lithium, renewable energy and technology company Lithium Renewable energy Technology For personal use only Division Li Li Ren Li Tech Li 275GWh p.a. of renewable power and 560 Having shown industry-leading 24,000 tonnes p.a. of sust
Slide 25: World-class lithium district: Lionheart
Industrie-Park Höchst Downstream LHM production Ability to expand to 3 phases WORLD-CLASS LITHIUM DISTRICT: LIONHEART Frankfurt Ability to expand with low cost, sustainable production Global tier-one lithium resource, and largest in For personal use only Europe: 27.7 Mt LCE estimated in 10 of Vulcan
Slide 26: Phase +: decarbonising the world's largest chemical site
PHASE + DECARBONISING THE WORLD’S LARGEST CHEMICAL SITE1 A blueprint for Vulcan's future phase developments to support Europe's energy transition Phase One ++ downstream For personal use only Central Lithium Plant planned location Frankfurt 20km • Owner of lithium production • Future heat offtaker c
Slide 27: 5. Targets 2025
For personal use only 5. Targets 2025
Slide 28: May 27, 2025: start of drilling for new Phase One production wells
For personal use only AY 27, 2025: START OF DRILLING FOR EW PHASE ONE PRODUCTION WELLS EAR LANDAU, GERMANY 28 28 28
Slide 29: Key targets for 2025
KEY TARGETS FOR 2025 Focus on maintaining strong momentum Production of battery quality Lithium Hydroxide Monohydrate (LHM) at CLEOP For personal use only EU Strategic Project status Commencement of well execution Decision(s) on government funding approval processes Finalising project financing pack
Slide 30: For personal use only
For personal use only @VulcanEnergyRes http://v-er.eu
Slide 31: 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 32: 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 33: 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 backgro
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