Liontown Limited · ASX:LTR
Liontown — 2025 Macquarie Australia Conference
19 slides from Liontown's conference presentation, May 6, 2025
Slide 1: Australia's first underground lithium mine
Australia’s first underground lithium mine 6 May 2025 Tony Ottaviano Managing Director | CEO ASX: LTR | ltresources.com.au 1
Slide 2: Important Information
Important Information Important Information Competent Persons Statement This Presentation contains forward-looking statements which are identified by words such as ‘may’, ‘could’, ‘believes’, The Information in this Presentation that relates to Mineral Resources for the Kathleen Valley Project is ex
Slide 3: Liontown corporate overview and business highlights
Liontown corporate overview Our business highlights Liontown is an ASX listed responsible battery minerals provider headquartered in Perth, Western Australia. The Company operates the Kathleen Valley Lithium Operation. ✓ Australia’s newest lithium producer First production at Kathleen Valley deliver
Slide 4: Strong operational execution has underpinned FY25 performance to date
Strong operational execution has underpinned FY25 performance to date Since first concentrate, production, costs and sales are progressing in line with expectations, notably achieving positive net cashflow from operating activities for two consecutive full quarters Operational Performance1 Financial
Slide 5: Kathleen Valley Lithium Operation – Site Layout
Kathleen Valley Lithium Operation – Site Layout Open pit Lined tailings Dragonfly Village dam Paste plant Underground operation Process plant Run-of-mine (ROM) stockpiles Renewable Ore sorting infrastructure 5 5
Slide 6: Mining Performance – Open Pit
Mining Performance – Open Pit Kathleen’s Corner Open Pit continues to progress to plan • Open pit mining is the primary ore source through FY25 and on track for completion in Q3 FY26 • ~2.3Mt of ore (incl OSP8) moved during FY25, with an average Li2O grade mined of 1.2% • Final open pit grade contro
Slide 7: Underground production underway
Underground production underway Successfully commenced underground production on schedule in April 2025 • ~9,200 cumulative development metres achieved since November 2023 (160 metres ahead of plan) • High jumbo productivity, with our partner Byrnecut achieving an average of >300m per jumbo per mont
Slide 8: Two orebodies "One Mine" – bulk mining
Two orebodies “One Mine” – bulk mining Kathleen Valley Resource Large scale, high grade, tier-1 (Oblique view, legend representative of resource grade) orebodies N • Kathleen Valley 100% wholly-owned Open pits • Mineral Resource Estimate 155Mt at 1.3% Li2O • Ore reserve underpin multi-decade mine li
Slide 9: 2.8Mtpa optimised mine plan - Deep Dive
2.8Mtpa optimised mine plan - Deep Dive Mt Mann Scheduled and Contained Ore Mine Design Strategically prioritises high margin ore (Oblique view, legend representative of scheduled stope grade) Balancing cost versus return North Decline • Grade distribution ranging from 1.0% to >2.6%, and an South De
Slide 10: Bulk tonnes, high productivity, low-cost
Bulk tonnes, high productivity, low-cost Mt Mann Scheduled and Contained Ore by Mine Level Driving efficient, high-margin operations, (Million Tonnes) resulting in long-term low-cost production 5-year Schedule Ore Mined Contained Ore • 5-year mine plan contains up to 100m thick ore zones, containing
Slide 11: Mt Mann underground – its happening!
Mt Mann underground – its happening! Left image: Mt Mann typical pegmatite ore face Left image: Above image: 11 Pegmatite ore face prepared for blasting Final brow of first stope after ore extracted
Slide 12: Fourth generation plant delivers
Fourth generation plant delivers Strong performance and continued improvements in processing efficiency • At average mill feed grade of ~1.3%, average lithia recovery has continued to improve quarter on quarter to an average of 64% in the March Quarter, reflecting ongoing performance improvements •
Slide 13: Market update
Market update 13
Slide 14: Lithium demand remains strong….
Lithium demand remains strong…. Strong demand continues across multiple segments EV Demand11 (lithium demand, kt LCE) 2,443 2025 Growth: +133% • Strong YoY EV sales growth 1,753 - BYD April YTD sales up +47% YoY; BEVs share relative to PHEVs grew to 54% 1,050 956 - EV battery giant CATL's Q1 net pro
Slide 15: ….so why the price weakness?
….so why the price weakness? Tariff market uncertainty is contributing to inventory destocking which obscures real end-market strength Precursor Spodumene mining & Finished lithium Cathode Active Battery production EV & ESS concentration production Material (eg carbonate, hydroxide) Supply and deman
Slide 16: Value Proposition
Value Proposition The best strategies endure the cycles; ours is unchanged ✓ High-quality, Tier-1 asset in Kathleen Valley Underpins… Kathleen Valley Full Potential ✓ Significant and low capital intensity growth opportunities provides expansion optionality In addition to… ✓ Future downstream integra
Slide 17: Watch online
Watch online: https://www.youtube.com/watch?v=r3FHOaZgkqQ 17 17
Slide 18: For more information
For more information: Leanne Kite Investor Relations lkite@ltresources.com.au +61 401 438 850 Level 2, 32 Ord Street, West Perth WA 6005 +61 8 6186 4600 info@ltresources.com.au liontown-resources-limited Liontown Resources @LiontownRes @LiontownRes 18
Slide 19: Appendix B: Notes
Appendix B: Notes 1. All metrics represent the period 1 July 2024 to 31 March 2025, unless otherwise stated. Processing commenced on 31 July 2024. 2. Based on accredited site laboratory assays managed by SGS Australia Pty Ltd. 3. Average realised sales price from the commencement of sales in Septemb