Liontown Limited · ASX:LTR
Liontown — Macquarie Australia Conference 2026
17 slides from Liontown's conference presentation, May 5, 2026
Slide 1: Macquarie Australia Conference 2026
Macquarie Australia Conference 2026 May 2026 ASX: LTR | liontown.com
Slide 2: Important information
Important information IMPORTANT INFORMATION NOTICE AND DISCLAIMERS NO FINANCIAL PRODUCT ADVICE This investor presentation (Presentation) is dated 5 May 2026 and has been prepared by Liontown Limited This Presentation is for information purposes only and is not a prospectus, disclosure document, prod
Slide 3: Watch online
Watch online: youtu.be/nBXasL-LwtM 3
Slide 4: Strongest financial quarter since production commenced
Strongest financial quarter since production commenced Self-funded for the first time – $33m increase for Q3 FY2026, closed with $424m cash and 26 kt saleable inventory on hand Market conditions are strong – average realised price of US$1,845/dmt (SC6e CIF)1,2, up ~87% for the quarter Deliveri
Slide 5: March Quarter highlights
March Quarter highlights Delivering on all fronts - record financial performance as underground ramp-up continues Financial highlights Operational highlights Pricing Cash Production Ore mined $2,265/t CIF sold $424m 96 kt 402 kt 1 1,2 (US$1,845/t CIF SC6e) Cash on hand dmt produced Underground ore m
Slide 6: Operational performance
Operational performance ~ ee |
Slide 7: Underground ramp-up ahead of schedule - 1.5 Mtpa run-rate target achieved early
Underground ramp-up ahead of schedule - 1.5 Mtpa run-rate target achieved early Underground ore mined • Underground ramp-up progressed ahead of All figures in kilotonnes (kt) Ramp-up tracking to schedule – 1.5 Mtpa annualised underground plan and schedule run-rate target (set for end of Mar-26) achi
Slide 8: Recovery firmly on track into Q4, with underground ore now the dominant feed source
Recovery firmly on track into Q4, with underground ore now the dominant feed source Average recovery and underground ore % of feed mix 70% • Underground ore as a % of feed mix stepped 67% up significantly through March 64% 61% 60% • Average recoveries of ~64% through March (vs. ~61% for the quarter)
Slide 9: Financial performance
Financial performance 9
Slide 10: Quarterly financial metrics
Quarterly financial metrics Strongest financial quarter since production commenced; Cash first positive net cash flow driven by operational • First quarter of positive net cash flow recorded – a significant milestone reflecting momentum and strong market conditions operational momentum • Strong cash
Slide 11: Market outlook
Market outlook 11
Slide 12: Lithium-ion isn't standing still
Lithium-ion isn't standing still Battery energy density – step change (Wh/kg)5 Average battery pack capacity, China (KWh, rebased to 100)6 500 480 120 +17% 400 115 350 +13% +13% 110 300 255 105 +6% 210 200 100 100 95 BYD Blade 2 Qilin Qilin BYD Solid State Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 D
Slide 13: Prices are strengthening as the market tightens
Prices are strengthening as the market tightens Lithium carbonate price (GFEX, CNY/t)7 Market balance (kt LCE)8 CNY 200,000 Surplus 200 CNY 180,000 Forecast CNY 160,000 100 CNY 140,000 CNY 120,000 0 CNY 100,000 CNY 80,000 -100 CNY 60,000 Deficit Feb-26 Mar-26 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Apr-2
Slide 14: Growth
Growth
Slide 15: Early works are underway for the planned Kathleen Valley expansion
Early works are underway for the planned Kathleen Valley expansion Commencing early works accelerates the expansion timeline, positioning Liontown to execute immediately upon FID and to realise value from favourable market conditions Subsequent to the quarter, Liontown announced it is proceeding wit
Slide 16: Set up for sustainable growth
Set up for sustainable growth Five pillars underpinning our long-term value creation… Tier-1 Self-funded Proven Embedded Structural producing growth delivery expansion market asset tailwinds Fully permitted and Q3 FY2026 delivered 1.5 Mtpa underground Staged expansion Battery energy density is produ
Slide 17: For more information:
For more information: Jared Newton Corporate Affairs jnewton@ltresources.com.au +61 401 165 593 Level 2, 32 Ord Street, West Perth WA 6005 +61 8 6186 4600 info@liontown.com liontown Liontown @Liontown @Liontown