Australian Vanadium Limited · ASX:AVL
Australian Vanadium — All Energy Australia 2026
20 slides from Australian Vanadium's conference presentation, Oct 29, 2026
Slide 1: Rethinking BESS: new markets, new advantages
rsonal use only Rethinking BESS: new markets, new advantages Proven at scale: Performance, policy, and the power of local content All Energy Australia | Melbourne | October 2026 ASX:AVL
Slide 2: Compliance & Cautionary Forward-looking Statements
Compliance & Cautionary Forward-looking Statements The views expressed in this Presentation contain information derived from publicly available sources that have not been independently verified. No representation or warranty is made as to the accuracy, completeness or reliability of the information.
Slide 3: Lumina VFB BESS architecture engineered to maximise local Australian content
AVL’s Lumina vanadium flow battery BESS architecture is engineered to maximise local Australian content rsonal use only Local content opportunities in a Lumina 50MW/500MWh VFB BESS 0% 100% Pumps, Tanks, Civils Electrolyte Cell stack Inverter and Power EPCM & Other Pipework control system Off-the-she
Slide 4: Why have vanadium flow batteries scaled to gigawatt-hour capacity?
Why have vanadium flow batteries scaled to gigawatt-hour capacity? rsonal use only The journey of maturity and scale: technology, supply chain, operating proof Image: WeChat, Xinjiang local government All Energy Australia | Melbourne | October 2026 | ASX:AVL Source: https://www.ess-news.com/2026/01/
Slide 5: Vanadium flow batteries: validated at scale, differentiated to unlock new opportunities
Vanadium flow batteries: Validated at scale, differentiated to unlock new opportunities rsonal use only STABLE & VERSATILE SAFE AND RESILIENT VALIDATED AT SCALE Minimal degradation and full No thermal runaway risk.1 History of grid-connected VFB depth of discharge support Ideal for deployment near p
Slide 6: VFB gigawatt-hour scale-up has unlocked a global opportunity
VFB gigawatt-hour scale-up has unlocked a global opportunity International deployment can increasingly draw on an established technology and manufacturing base rsonal use only BEFORE NOW Technology scale-up → Demonstrated large-scale systems Manufacturing development → Established industrial supply
Slide 7: Large VFB projects now span multiple markets
Large VFB projects now span multiple markets • Over 8GWh of VFBs in operation globally, with a further 44 GWh of 2026 – Example Projects projects either in construction or announced4 rsonal use only • If fully deployed, the Flexbase, Hunter VFB and Kalgoorlie VBESS would S: Switzerland – 2.1 GWh rep
Slide 8: The cost competitiveness opportunity
The cost competitiveness opportunity Initial Capex ($/MWh) rsonal use only • Electrolyte leasing: deployed at utility-scale in China3 and capable of converting electrolyte component, estimated at 40-50% of VFB capex, into opex4 – a similar Electrolyte leasing model could potentially be applied in Au
Slide 9: VFBs' unique attributes offer competitive advantages in key emerging markets
VFBs’ unique attributes offer competitive advantages in key emerging markets VFBs’ advantages over established BESS technology – including duration, no thermal runaway rsonal use only risk, minimal degradation / cycle resilience and full depth of discharge – position this technology for use in key e
Slide 10: Australia's vanadium-VFB supply chain flywheel is gathering momentum
Australia’s vanadium-VFB supply chain flywheel is gathering momentum Industrial scale-up KEY DRIVERS rsonal use only VFBs now industrialised: single projects and Energy policy manufacturing capacity exceed GWh scale LDES and sovereign technology diversification Electrification High-purity supply Ban
Slide 11: Vanadium flow batteries: proven in utility service
Vanadium flow batteries: proven in utility service A decade of operating experience and 100 MW grid-scale reference rsonal use only Project / OEM Operating Grid services history¹ Dalian, China 4 years Peak shifting Rongke Power Frequency regulation 100 MW / 400 MWh Renewables integration Black start
Slide 12: The case for new upstream supply of vanadium
The case for new upstream supply: a single utility-scale VFB BESS would create significant demand for vanadium rsonal use only 50 MW/ 4 kt c.1.7% 500 MWh VFB BESS ~ V2O5 demand1 ~ Of global V2O5 supply2 “Western Australia, of itself, is going to have a strong demand for vanadium as part of our domes
Slide 13: Three value platforms, one integrated strategy
Three value platforms, one integrated strategy Upstream Midstream Downstream rsonal use only Vanadium Mining Vanadium Electrolyte Utility-scale and Processing Manufacture BESS Solutions Asset Australian Vanadium Project Electrolyte manufacturing facility VSUN Energy (100% AVL) AVL High-grade project
Slide 14: Value Platform 1: VSUN Energy and Lumina
Value Platform 1: VSUN Energy and Lumina Proposed build-own-operate (BOO) BESS platform Examples of Australian BOO BESS platforms1 rsonal use only Company Establishment year Ba Design: develop battery, customise to projects and secure financial resources Build: source, manufacture, assemble, site in
Slide 15: Value Platform 2: Electrolyte manufacturing and V-NOMAD
Value Platform 2: Electrolyte manufacturing and V-NOMAD Established foundation Operational WA electrolyte manufacturing facility, rsonal use only established technical expertise and ongoing product qualification and engagement with multiple OEMs.1 V-NOMAD A scalable vanadium electrolyte manufacturin
Slide 16: Value Platform 3: The Australian Vanadium Project
Value Platform 3: The Australian Vanadium Project Advancing readiness through the cycle rsonal use only A world-class asset located in Western Australia, a Tier-1 mining jurisdiction Proposed open-pit mining with a conventional magnetite concentrator process Global vanadium MRE of 395.4Mt at 0.77% V
Slide 17: AVL's integrated capability positioned for VFB deployment
AVL’s integrated capability positioned for VFB deployment Value Platform 1 – VFB solution: VSUN Energy’s experience from Horizon Power project1 and AVL’s Lumina rsonal use only architecture2 provide expandable VFB solutions for utility- scale BESS projects in hot climate and remote locations Value P
Slide 18: AVL: an Australian BESS supply chain
AVL: an Australian BESS supply chain rsonal use only Three platforms, Positioned for one integrated Developing VFB Delivering a large-scale VFB VFB use-case vanadium value opportunity distinctive deployments tailwinds chain pipeline business model High local content, AI data centre, hot- Upstream mi
Slide 19: Contact details
rsonal use only +61 (08) 9321 5594 info@avl.au www.avl.au Level 2, 50 Kings Park Road, West Perth, Western Australia 6005 Australian Vanadium Limited | ASX: AVL
Slide 20: Mineral Resource Estimate
Mineral Resource Estimate Zone Category Mt V2O5 % Fe % TiO2 % SiO2 % Al2O3 % rsonal use only Measured 30.6 1.14 46.3 12.9 7.4 6.2 HG Indicated 74.8 1.11 47.5 12.6 7.0 5.7 Inferred 67.9 1.06 45.3 12.1 9.0 6.6 Subtotal 173.2 1.09 46.5 12.5 7.8 6.1 Indicated 61.8 0.55 26.1 7.1 26.6 16.3 LG Inferred 142