Liontown Limited · ASX:LTR

Liontown — Liontown Resources — Investor Presentation (February 2019)

30 slides from Liontown's investor presentation, Feb 4, 2019

  1. Slide 1: Developing Two Quality Hard Rock Lithium Deposits in Western Australia

    Liontown FEBRUARY 2019 ASX: LTR = S) Developing Two Quality Hard Rock a Lithium Deposits in Western Australia

  2. Slide 2: Important Information

    Important Information I . Forward Looking Statements This Presentation may include statements that could be deemed “forward-looking statements”. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not gu

  3. Slide 3: For personal use only

    • • • • • • • For personal use only • • •

  4. Slide 4: Kathleen Valley Lithium Project, Western Australia

    KATHLEEN VALLEY 6 LITHIUM PROJECT WESTERN AUSTRALIA

  5. Slide 5: Open Pits

    For personal use only Open Pits

  6. Slide 6: Kathleen Valley Project - NPV Sensitivity Analysis (A$M)

    For personal use only Kathleen Valley Project - NPV Sensitivity Analysis (A$M) Spodumene Base Case Price (US$550-750/t) 253 588 Exchange Rate (AUDUSD$0.80-0.64) 301 571 Li Grade Flex (+/-10%) 323 518 Operating Cost Flex (+/-15%) 331 510 Li Recoveries (74-84%) 358 481 Capital Cost Flex (+/-15%) 393 4

  7. Slide 7: Revenues and Net Cashflows (After Tax)

    For personal use only A$M A$ Revenues and Net Cashflows (After Tax) 1,000 800 600 400 200 - Y1 Y2 Y3 Y4 Y5 Y6 Y7 Y8 Y9 Y10 (200) Revenue A$m (400) Net cashflow after tax A$m Cumulative net cashflow after tax A$m

  8. Slide 8: Net Cashflow After Tax A$M per Year

    For personal use only A$M Net Cashflow After Tax A$M per Year 200 150 100 50 0 Y1 Y2 Y3 Y4 Y5 Y6 Y7 Y8 Y9 Y10 Y1 -50 -100 -150 -200 -250 -300

  9. Slide 9: Resources and Mining

    Resources and Mining Global resource 21.2Mt @ 1.4% LiO and 170ppm Ta,Os 75% Measured and Indicated Scoping study Production Target of 15.7Mt @ 1.26% Li,O and 154ppm Ta,O; Open pits largely constrained by limit of data Conventional open pit mining and processing Favourable location close to establish

  10. Slide 10: Metallurgy and Flowsheet

    Metallurgy And Flowsheet — Preliminary Test Work Confirms a Saleable a Li,O Concentrate Can Be Produced * 5.9% Li,O from DMS conc. * 36% mass rejection from 2-stage DMS * 5.5% Li,O from flotation * Low iron (<0.5% Fe,O3) * Predicted 79% Li.O recovery * Preliminary TayOs conc. Ee oir Kathleen Valley

  11. Slide 11: For personal use only

    For personal use only : • • • • • • • *The potential grade and tonnage of the exploration target referred to above is conceptual in nature and there has been insufficient exploration to estimate a Mineral Resource. It is uncertain if further exploration will result in the estimation of a Mineral Res

  12. Slide 12: High Grade Compared With Most Peers - Plus Potential to Grow

    High Grade Compared With Most Peers - Plus Potential to Grow Lithium Deposits (Grade x Tonnes) Kathleen Valley Mt Catlin Whabouchi Mina Do Barroso Piedmont Authier Bald Hill Rose Development Production 10.0 15.0 20.0 25.0 30.0 35.0 40.0 45.0 MT * Resources as at 24 January 2019 (Sourced from company

  13. Slide 13: Recent Metallurgical Drilling Confirms Continuity of Geological Model

    Recent Metallurgical Drilling Confirms Continuity of Geological Model 258 OnE y 2585000 . B © Previous hole Sw NE : aN © stoma a oe a Metallurgical hole 400nRL Q_ Diamond hole ®& RChole % >1%Li20 1) Pegmatite =a Mafic rocks Grades appear to be increasing with depth 13

  14. Slide 14: Investment Case

    Investment Case Robust, high grade resource First world location and expertise ” WESTERN . . oo . IK Major Nickel Mine AUSTRALIA Active, well serviced mining region yf Major Gold Mine — Saami Conventional mining and processing Granite Resource upside — 16,000m RC drilling program in progress Strong

  15. Slide 15: Buldania Lithium Project, Western Australia

    BULDANIA @ LITHIUM PROJECT WESTERN AUSTRALIA

  16. Slide 16: For personal use only

    For personal use only Mt Marion – 71Mt @1.4% Li2O Bald Hill – 26Mt @1.0% Li2O

  17. Slide 17: For personal use only

    For personal use only 13m @ 1.0% Li2O 29m @ 1.3% Li2O incl. 9m @ 1.7% Li2O 25m @ 1.2% Li2O Drill section incl. 5m @ 2.0% Li2O 32m @ 1.1% Li2O incl. 9m @ 1.3% Li2O 58m @ 1.2% Li2O incl. 16m @ 1.7% Li2O 22m @ 1.1% Li2O incl. 10m @ 1.4% Li2O 30m @ 1.4% Li2O incl. 9m @ 1.6% Li2O 10m @ 1.6% Li2O incl. 4m

  18. Slide 18: For personal use only

    For personal use only NW SE 13m @ 1.0% Li2O 39m @ 1.6% Li2O 14m @ 1.7% Li2O incl. 13m @ 2.1% Li2O incl. 11m @ 2.0% Li2O 30m @ 1.4% Li2O 32m @ 1.1% Li2O incl. 9m @ 1.6% Li2O incl. 9m @ 1.3% Li2O 25m @ 1.2% Li2O incl. 5m @ 2.0% Li2O 11m @ 1.4% Li2O 29m @ 1.2% Li2O incl. 3m @ 2.0% Li2O incl. 9m @ 1.7%

  19. Slide 19: Buldania is Part of a Large (~650km2) Land Position Highly Prospective For Lithium

    Buldania is Part of a Large (~650km2) Land Position Highly Prospective For Lithium KILLALOE PROJECT == 163km? area located immediately north west of the Buldania Project — covers strike extension of Anna trend */) ~20km strike length of prospective stratigraphy + Multiple spodumene-bearing pegmatite

  20. Slide 20: For personal use only

    For personal use only • • •      • • •

  21. Slide 21: For personal use only

    • • For personal use only • • • • • • • •

  22. Slide 22: Liontown contact details

    Liontown EMAIL a \_ WEBSITE: OFFICE PHONE NUMBER i info@ltresources.com.au 9 www. ltresources.com.au Level 2, 1292 Hay St o 08 9322 7431 West Perth WA 6005 CONNECT in

  23. Slide 23: Appendix: Kathleen Valley Project Additional Information

    2 = ) o) ) =) © = e) 2D N— ® 2. = S) LL APPENDIX Kathleen Valley Project Additional Information 23

  24. Slide 24: Scoping Study - Key Parameters And Assumptions

    Parameter Scoping Study — Key Parameters And Assumptions Parameter General and Economic Cost Assumptions | Discount rate (real, post tax) 8% LOM average open pit mining costs A$37.72 Spodumene concentrate price US$650 per tonne FOB ($/t ore mined) - Tanta Trate price [contained LOM average processin

  25. Slide 25: Scoping Study - LoM Financials And Capital Expenditure

    Scoping Study — LoM Financials And Capital Expenditure Life of Mine Financials A$M Capital Costs Summary Main Area Capital (A$M) L Revenues 2,802 Treatment Plant 82.8 Operating costs (1,236) Reagents & Plant Services 9.5 Infrastructure — I 39.9 Capital expenditure Mini fucose gener 7 = pre-productio

  26. Slide 26: Production and Costs

    For personal use only Production and Costs 400 800 701 350 660 700 300 570 600 616 537 520 525 Conc. Production (kt) Opex (A$t/conc) 250 552 468 500 468 391 200 434 433 438 400 377 293 150 300 310 100 200 191 50 100 169 348 351 357 356 372 355 356 149 - - Y2 Y3 Y4 Y5 Y6 Y7 Y8 Y9 Y10 Spodumene Concen

  27. Slide 27: LOM Lithium and Tantalum Grade Profile

    For personal use only LOM Lithium and Tantalum Grade Profile 1.60% 189 200 174 169 180 1.40% 163 156 Lithium Grade (%Li2O) Tantalum Grade (ppm Ta2O5) 160 1.20% 142 142 133 133 140 1.00% 120 0.80% 100 1.42% 1.26% 1.26% 1.32% 1.26% 1.26% 0.60% 1.23% 1.24% 80 1.20% 60 0.40% 40 0.20% 20 -- - - Y1 Y2 Y3

  28. Slide 28: Production Classification by Year

    For personal use only Production Classification by Year 2.5 50% 45% 2 40% 35% 1.5 30% Tonnes (Mt) 25% 1 20% 15% 0.5 10% 5% 0 0% Y1 Y2 Y3 Y4 Y5 Y6 Y7 Y8 Y9 Y10 Unclassified Inferred Indicated Measured Percentage Inferred

  29. Slide 29: For personal use only

    For personal use only The grade and tonnage ranges referred to above are conceptual in nature and there has been insufficient exploration to estimate a Mineral Resource. It is uncertain if further exploration will result in the estimation of a Mineral Resource.

  30. Slide 30: Liontown

    Liontown W @LiontownRes in liontown-resources-limited € www.I|tresources.com.au

Liontown Resources — Investor Presentation (February 2019) on 6ix