Vulcan Energy Resources Ltd. · ASX:VUL
Vulcan Energy Resources — Investor Presentation (September 2025)
28 slides from Vulcan Energy Resources's investor presentation, Sep 19, 2025
Slide 1: Corporate Presentation September 2025
For personal use only Corporate Presentation September 2025 DETERMINED FOR A ASX/FSE: VUL BETTER TOMORROW
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: Vulcan Energy: A Snapshot
VULCAN ENERGY: A SNAPSHOT Empowering a carbon neutral future through an integrated lithium and renewable energy business Vulcan Executive Leadership For personal use only Dr Francis Wedin Renewable Energy Executive Chair, Founder Technology Lithium 17+ years’ experience in the resources TM industry,
Slide 4: Investment Highlights
INVESTMENT HIGHLIGHTS Low cost, sustainable and optimally positioned for EU market ✓ Globally significant project with an initial 30-year project life just from Phase One, and 29.1 Mt LCE Resource1 For personal use only ✓ Low-cost, energy-generative lithium project benefiting from naturally- heated
Slide 5: World-Class Lithium & Geothermal District
Industrie-Park Höchst Downstream LHM production Ability to expand to 3 phases WORLD-CLASS LITHIUM & GEOTHERMAL DISTRICT Frankfurt Ability to expand with low cost, sustainable production • Global tier-one lithium resource, and largest in Europe: 29.1 Mt LCE estimated in 10 of Vulcan’s 17 licences alo
Slide 6: Powering Ahead: Europe's Battery Projects on the Rise
POWERING AHEAD: EUROPE’S BATTERY PROJECTS ON THE RISE Vulcan vital to secure local supply of lithium chemicals from Europe 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 i n g C A M pl
Slide 7: EV and Battery Growth Roaring Ahead – Globally and in the EU
EV AND BATTERY GROWTH ROARING AHEAD – BOTH GLOBALLY AND IN THE EU ▪ EV sales in the first seven months of 2025 have grown by +27% EV sales growth to August 2025 YTD1,2 globally and by +30% in Europe.1,2 EV sales (million units) For personal use only Global 10.7m units; +27% growth ▪ EV sales current
Slide 8: A Snapshot: Lionheart Phase One in Figures
A SNAPSHOT Lionheart Phase One in figures1 €3.5bn 21.7% €756m For personal use only Pre-tax NPV Pre-tax IRR Average revenues p.a. Vulcan’s Lionheart produces both baseload geothermal energy and lithium hydroxide 24kt LHM for electric vehicle (EV) batteries from the 29.1 Mt LCE3 30 years 275GWh power
Slide 9: Key Recent Lionheart Project Achievements
KEY RECENT LIONHEART PROJECT ACHIEVEMENTS A transformational period for the Project ✓ Production of battery-quality lithium hydroxide monohydrate (LHM) ✓ Vulcan awarded EU Strategic Project status under the Critical Raw Materials Act achievements only ✓ Commenced the first new production well for Ph
Slide 10: Integrated Brine-to-Battery Solution
INTEGRATED BRINE-TO-BATTERY SOLUTION Renewable energy driving sustainable lithium production 275GWh power LiCl concentrate for 24,000tpa Phase one 560GWh heat1 24,000tpa LHM equivalent LHM1 2. Well 3. Geothermal 4. Lithium Extraction Plant 5. Central Lithium Plant Electric For personal use only site
Slide 11: Vulcan's Phase One Project: Lionheart
VULCAN'S PHASE ONE PROJECT: LIONHEART Low cost, sustainable integrated lithium and energy production from Europe, for Europe 2 3 For personal use only 4 1 11 1 Vulcan’s 100% owned Insheim Geothermal Power Plant and wells 2 Operating well site and Lithium 3 G-LEP – Option agreement signed to secure s
Slide 12: Targeting the Lowest Quartile of the Lithium Cost Curve
VULCAN WILL BE TARGETING THE LOWEST QUARTILE OF THE LITHIUM COST CURVE Powered by low cost, highly efficient A-DLE production that leverages renewable heat Global projected lithium hydroxide C1 cost curve For personal use only Brine Integrated Spodumene - RoW Integrated Mica Integrated Spodumene - A
Slide 13: Supplying the European Auto Industry
- SUPPLYING THE EUROPEAN AUTO INDUSTRY Fully contracted lithium production drives pricing stability1 • Low counterparty risk: high quality European-focused offtake partners For personal use only • Long term relationships: all offtake agreements binding, take-or-pay, with agreed pricing mechanisms, 5
Slide 14: EPCM Partner Validation Exercise Completed
EPCM PARTNER VALIDATION EXERCISE COMPLETED Improved scope definition leading to reduced uncertainty and risk during execution, all with no material change to CAPEX • EPCM/ integrator: review of scope, cost and schedule, validating the BES, with For personal use only no material increase in capital r
Slide 15: Major Contract Signed
MAJOR CONTRACT SIGNED Supply contract signed ahead of FID, showing continued support for Phase One For personal use only Exclusive technology supplier: NESI will supply electrolysis technology, including NORSCAND® Electrolysers, for the Central Lithium Plant ✓ Green lithium production: Technology en
Slide 16: Phase One Financing
PHASE ONE FINANCING1 Vulcan continues to see strong support from the public and private sector Targeted FID H2 2025 For personal use only Renewable Lithium Technology July 20252 Total Project funding package ~€2.2bn Awarded €104m (~A$186m) from Germany’s federal and state (including capex of ~€1.4bn
Slide 17: Sustainability Excellence: A Key Requirement
SUSTAINABILITY EXCELLENCE: A KEY REQUIREMENT GHG emissions intensity of lithium chemicals production in 2030 Life Cycle Assessment (LCA) For personal use only studies verify that Vulcan’s Phase One Lionheart Project is expected to produce lithium with the smallest CO2 footprint per tonne of Lithium
Slide 18: Ludwigshafen: Integrated Renewable Energy & Lithium
LUDWIGSHAFEN: INTEGRATED RENEWABLE ENERGY & LITHIUM1 A blueprint for Vulcan's future phase developments to support Europe's energy transition Phase One ++ downstream Integrated renewable energy, lithium salts and lithium hydroxide production from sub- For personal use only surface brines in the Uppe
Slide 19: The Key to Unlock Low-Cost Western A-DLE Lithium Globally
– 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 Environmentally F
Slide 20: Phase One Field Development Update
PHASE ONE FIELD DEVELOPMENT UPDATE Progress at well No.5 serving as blueprint to be replicated for rest of Phase One Drilling preparation was successfully completed on time including permit approvals, HSE For personal use only training, management plans sign-off, and drilling programme Drilling succ
Slide 21: Europe's First Domestic Resource to LHM Supply Chain Is Proven
EUROPE’S FIRST DOMESTIC RESOURCE TO LHM SUPPLY CHAIN IS PROVEN LEOP & CLEOP has produced battery quality LHM with first samples sent to offtakers CLEOP - Central Lithium Electrolysis Optimisation Plant – Frankfurt Phase One ++ downstream For personal use only Central Lithium Plant planned location F
Slide 22: 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 on lithium-related grant 1 o Awarding/ signing of major contracts o F
Slide 23: New Phase One Production Wells near Landau, Germany
For personal use only NEW PHASE ONE PRODUCTION WELLS NEAR LANDAU, GERMANY @VulcanEnergyRes http://v-er.eu 23 23 23
Slide 24: Board of Directors
BOARD OF DIRECTORS Major project, technical and finance experience at Board and Executive level Executive Directors For personal use only Dr Francis Wedin Cris Moreno Felicity Gooding Executive Chair, Founder Managing Director and Executive Director and Group CEO Group CFO Non-Executive Directors An
Slide 25: Appendices
For personal use only APPENDICES
Slide 26: 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 27: 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 28: 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 backgr
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