Australian Vanadium Limited · ASX:AVL
Australian Vanadium — Investor Presentation (November 2026)
26 slides from Australian Vanadium's investor presentation, Nov 5, 2026
Slide 1: A secure supply of vanadium for the USA
rsonal use only A secure supply of vanadium for the USA Allied vanadium supply, US manufacturing opportunities and energy resilience US Critical Minerals Delegation | Washington DC | New York November 2026 ASX:AVL
Slide 2: Compliance & Cautionary Statements
Compliance & Cautionary 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. Forward Looking
Slide 3: Building an allied vanadium supply chain
Building an allied vanadium supply chain Four practical opportunities for US partners rsonal use only 1 STRATEGIC INVESTMENT 2 OFFTAKE & QUALIFICATION Potential capital participation in the Australian Product qualification and potential long-term supply arrangements for Australian high-purity Vanadi
Slide 4: Australian resource, deep US connectivity
Australian resource, deep US connectivity US capital, US vanadium expertise, with early US government engagement and industrial relationships established AVL’s existing strong US ties can help diversify US vanadium supply chains rsonal use only US CAPITAL US LEADERSHIP TEAM EXPERIENCE Board and Mana
Slide 5: Deep, US vanadium expertise and established US industrial connections
Deep, US vanadium expertise and established US industrial connections Experienced US vanadium operators1, specialist US capital2, and US relationships3 across the value chain rsonal use only NON-EXECUTIVE DIRECTOR CHIEF OPERATING OFFICER NON-EXECUTIVE DIRECTOR Daniel Harris Todd Richardson James McC
Slide 6: AVL's integrated platform for US supply-chain security
AVL’s integrated platform for US supply-chain security rsonal use only Allied critical US midstream Energy Investment minerals manufacturing resilience and industrial supply opportunities partnerships Large Australian vanadium Established Australian Experience supplying Established US investor and r
Slide 7: Vanadium is a US defense supply priority
Vanadium is a US defense supply priority APRIL 2025 Congressional support for vanadium stockpiles 2 rsonal use only Members of the US House and Senate call for strategic stockpiles of ferrovanadium and aerospace-grade vanadium oxides 5 of 9 JANUARY 2026 Defense Logistics Agency procurement3 NATO mil
Slide 8: Global mined vanadium production is highly concentrated
Global mined vanadium production is highly concentrated China + Russia rsonal use only 91% of global mined production Production share shown as % of global mined vanadium production China 73% Russia 18% Brazil 6% South Africa 3% Secondary US production is mainly from spent catalysts supply and ash f
Slide 9: Allied reserves create a strategic opening
Allied reserves create a strategic opening Vanadium reserves by country rsonal use only Thousand tonnes of contained vanadium (kt V) 5,000 kt Australia 10,000 kt 50 kt 5,800 kt China 5,800 kt Russia 5,000 kt South 520 kt Africa 94 kt Brazil 94 kt 10,000 k t 520 kt US 50 kt Australia ranks first in U
Slide 10: Strong projected growth in vanadium demand for energy storage
Strong projected growth in vanadium demand for energy storage provides Australia-USA commercial opportunities rsonal use only • Vanadium demand is forecast to grow as VFB deployment accelerates in China and other regions such as North America, Europe and Australia1 • Independent industry commentary
Slide 11: 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 12: AVL's integrated capability can benefit America
AVL’s integrated capability can benefit America – metals, midstream manufacturing and energy resilience Value Platform 1 – VFB solution: VSUN Energy’s experience from Horizon Power project 1 and AVL’s Lumina rsonal use only architecture2 provide expandable VFB solutions for utility- scale BESS proje
Slide 13: Value Platform 1: Energy Resilience - VSUN Energy and Lumina
Value Platform 1: Energy Resilience - VSUN Energy and Lumina Proposed build-own-operate (BOO) battery energy storage system (BESS) platform rsonal use only Ba Design: develop battery, customize to projects and secure financial resources Build: source, manufacture, assemble, site installation & grid
Slide 14: Value Platform 2: Midstream electrolyte manufacturing
Value Platform 2: Midstream electrolyte manufacturing Established foundation Operational electrolyte manufacturing facility, established rsonal use only technical expertise and ongoing product qualification and engagement with multiple OEMs.1 V-NOMAD A scalable vanadium electrolyte manufacturing pla
Slide 15: 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 16: High-purity vanadium product capability demonstrated through testwork
Australian Vanadium Project – high-purity vanadium product capability demonstrated through testwork rsonal use only STANDARD HIGH-PURITY PRODUCT ULTRA-HIGH PURITY CAPABILITY 99.5% >99.9% High-purity V₂O₅ Ultra-high-purity V₂O₅ Standard high-purity vanadium product level for Demonstrated at pilot sca
Slide 17: Western Australia - Building a new, scalable vanadium industry
Western Australia - Building a new, scalable vanadium industry rsonal use only Western Australia hosts a number of significant vanadium-titanium- magnetite deposits AVL's proposed processing plant is strategically located and offers potential for future processing of concentrates from other regional
Slide 18: What would a vanadium mining operation look like?
What would a vanadium mining operation look like? rsonal use only Computer-generated conceptual illustration of a potential vanadium mining operation. For illustrative purposes only; does not depict an existing AVL operation or final project design. US Critical Minerals Delegation | Washington DC |
Slide 19: Few Australian critical-minerals projects have reached advanced development stages
Few Australian critical-minerals projects have reached advanced development stages 13 rsonal use only Australian critical minerals project universe¹ Australian critical minerals 675 Exploration projects have reached 104 Scoping / PFS definitive feasibility study 13 DFS stage (DFS) stage 107 Operatin
Slide 20: One integrated Australian Vanadium Project
One integrated Australian Vanadium Project The AVL–TMT merger was followed by an updated Mineral Resource estimate and an integrated Optimized Feasibility rsonal use only Study (OFS). FEBRUARY 2024 MAY 2024 CURRENT WORKSTREAM UPDATED MINERAL MERGER COMPLETED INTEGRATED OFS RESOURCE AVL and TMT merge
Slide 21: Significant milestones across AVL's integrated vanadium value chain
Significant milestones across AVL’s integrated vanadium value chain DELIVERED NEXT STEPS rsonal use only UPSTREAM | AUSTRALIAN VANADIUM PROJECT UPSTREAM | AUSTRALIAN VANADIUM PROJECT AVL–TMT merger completed in February 2024; updated Targeting completion of the integrated OFS in H2 CY2026, combined
Slide 22: Australian Federal Government support
Australian Federal Government support Direct AVL support spans upstream, midstream, and downstream – with Australia’s critical minerals and battery policies well aligned. rsonal use only Federal Government grant for up to AU$49M Funding toward development of the Australian Vanadium Project. 1 Awarde
Slide 23: Western Australian State Government policy supports vanadium development
Western Australian State Government policy supports vanadium development AVL receives Green Energy Major Project Status The Australian Vanadium Project was selected for coordinated Government support rsonal use only under its Lead Agency Framework, providing clearer approvals pathways and interagenc
Slide 24: Japan: government and industry engagement
Japan: government and industry engagement rsonal use only Sumitomo Electric (SEI) partnership SEI is VSUN Energy’s proposed exclusive VFB technology provider for the Kalgoorlie EOI opportunity, if awarded. Joint technical and commercial planning combines proven Japanese technology with AVL’s AVL CEO
Slide 25: rsonal use only
rsonal use only +61 8 9321 5594 info@avl.au Level 2, 50 Kings Park Road, West Perth, Western Australia 6005 Australian Vanadium Limited | ASX: AVL www.avl.au
Slide 26: Mineral Resource Estimate
Mineral Resource Estimate Zone Category Mt V 2 O5 % Fe % TiO2 % SiO 2 % 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
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