Slide 1: Paradox Lithium Project, USA – Investor Presentation March 2023
For personal use only February 2023 PARADOX LITHIUM PROJECT, USA Investor Presentation – March 2023 Anson Resources | ASX: ASN
Slide 2: Disclaimer & Important Notice
DISCLAIMER & IMPORTANT NOTICE For personal use only The information contained in this confidential document ("Presentation") has been prepared by Anson Resources Limited (the "Company"). It has not been fully verified and is subject to material updating, revision and further amendment. The Informati
Slide 3: Company Overview
For personal use only COMPANY OVERVIEW Anson Resources | ASX: ASN
Slide 4: Paradox Lithium Project (100% Owned)
PARADOX LITHIUM PROJECT (100% OWNED) For personal use only Direct Production of High Purity Battery Grade Lithium Carbonate JORC Resource >1.5 billion Containing 1.04 million tonnes of Lithium Carbonate tonnes of brine Equivalent (LCE) and >5.2 million tonnes of Bromine Exploration Target of between
Slide 5: Emerging EV Battery Industry in the USA
EMERGING EV BATTERY INDUSTRY IN THE USA For personal use only Strategically Located GM’s Ultium Cells 40GWh plant in Lordstown, Ohio Paradox Lithium opened in 2022. A 35GWh plant in Springhill, Tennessee Project, Utah will commence production in 2023. Two operational plants – Nevada (35GWh) and Buff
Slide 6: Corporate Snapshot
CORPORATE SNAPSHOT For personal use only SHARE PERFORMANCE (12mo) 100 0.45 90 0.4 80 0.35 A$ Share Price Volume (Millions) 70 0.3 60 0.25 50 0.2 40 30 0.15 20 0.1 10 0.05 0 0 10/21 11/21 12/21 01/22 02/22 03/22 04/22 05/22 06/22 07/22 08/22 09/22 10/22 11/22 12/22 01/23 02/23 Volume ASN Share Price
Slide 7: Experienced Board & Executive Team
EXPERIENCED BOARD & EXECUTIVE TEAM For personal use only Board Bruce Richardson, B.A (Hons) Peter (Greg) Knox, B.Sc. (Geology) Michael van Uffelen, B.Com, CA Executive Chairman and CEO Executive Director Non-Executive Director Proven track record of 13 years in Qualified geologist with over 30 years
Slide 8: Sunresin – Proven DLE Partner
SUNRESIN – PROVEN DLE PARTNER For personal use only • Anson conducted extensive test work with multiple DLE technology providers before choosing Sunresin, following 12 month of successful testing. • Anson has executed a binding MoU1 with Sunresin to support the development and operation of the Parad
Slide 9: Sunresin – Commercialized Technology
SUNRESIN – COMMERCIALIZED TECHNOLOGY For personal use only • Targeting low cost and the most environmentally friendly Further DLE plants delivered for expansion and new projects, production of lithium from brines, a variety of Direct Lithium taking total installed capacity to 32ktpa. Extraction (DLE
Slide 10: Anson's Paradox Project: DLE Process
ANSON'S PARADOX PROJECT: 1 2 3 3) lon exchange takes lithium ions from Lithium \ \ the brine by trading rich brine \ Rete! \ ena) them for ions from races o precipitate \ the resin \ elements like anddriedto | magnesium. | produce lithium and boron carbonate \ ¢ e = Ps / Lithium eluace | (Li) J | j
Slide 11: Paradox Project – Compelling Position Amongst DLE Peers
PARADOX PROJECT – COMPELLING POSITION AMONGST DLE PEERS For personal use only ü Advanced Development Stage – DFS Complete ü Bromine & Boron co-product upside ü Proven Technology Partner ü Tier 1 Location Production / Construction Lanke Zangge Jintai Tibet Yiwei Eramet/ Anson Vulcan Standard Lake Con
Slide 12: Paradox Lithium Project
For personal use only PARADOX LITHIUM PROJECT Anson Resources | ASX: ASN
Slide 13: Paradox Geology & Mineralisation
PARADOX GEOLOGY & MINERALISATION For personal use only The Paradox Basin is located within a mature Oil & Gas district providing Anson access to existing well infrastructure and valuable historic data. The Paradox Basin consists of various formations which host large volumes of brines rich in Lithiu
Slide 14: Paradox Lithium and Bromine Resource
PARADOX LITHIUM AND BROMINE RESOURCE For personal use only Brine Grade (ppm) Contained (‘000 t) Formation Clastic Zone Category (Mt) Li Br Li2CO3 Br2 Indicated 47 173 3,054 44 144 Paradox Formation – CZ31 31 Inferred 77 182 2,543 74 195 CZ31 Resource 124 178 2,723 118 339 Paradox Formation Other 17,
Slide 15: Resource Expansion – Western Strategy
RESOURCE EXPANSION – WESTERN STRATEGY For personal use only The successful execution of the Western Strategy will support future increases in Lithium Carbonate production. 550% increase in JORC lithium resource (over PEA) to >1Mt LCE delivered from Eastern Strategy. Mineral Western Resource Expansio
Slide 16: Paradox Lithium Project: Phase 1 DFS Highlights
PARADOX LITHIUM PROJECT: PHASE 1 DFS HIGHLIGHTS For personal use only Production Life Total Revenue 13,074 tpa (Y1-10) 23 years US$ 5,080 m Additional Upside Value • Revenue from valuable by-products (Boron) has not been included in the economic analysis IRR CAPEX Annual EBITDA2 • DFS excludes subse
Slide 17: Anson's Paradox Project: Low Carbon, Low Waste
ANSON’S PARADOX PROJECT: Picts & USA Utah }) LOW CARBON Hydro + solar power a\ > HIGH SUBSIDY US lithium in US EV Inflation Reduction Act t @®O® For US lithium producers from H US ELECTRIC VEHICLE $ US Department of Energy : fi WATER RIGHTS. H secured (Li) PARADOX BRINE RESERVOIRS ee 80% -) LOW WAST
Slide 18: Lithium Carbonate Production
LITHIUM CARBONATE PRODUCTION For personal use only Production Schedule Production Parameters Units Phase 1 20,000 250 Construction Period Years 2 18,000 Potential to cost-effectively enhance production in later years via execution Project Life Years 23 16,000 of the Eastern and Western Resource 200
Slide 19: Mine Plan & Project Infrastructure
MINE PLAN & PROJECT INFRASTRUCTURE For personal use only Permitted production wells planned at Long Canyon to extract brine1 Early site works for two production pads completed2 Eluate Concentration Lithium Brine transport pipeline to use existing corridors / Precipitation Membrane – Impurity Removal
Slide 20: Capital Cost Estimate
CAPITAL COST ESTIMATE For personal use only Capital Item US$m • The capital cost estimate includes direct, indirect costs, freight, professional services, taxes and Direct Capital Costs 275.2 contingency. Indirect Capital Costs 126.0 • The DLE plant will be supplied and commissioned by Sunresin, Ans
Slide 21: Operating Cost Estimate
OPERATING COST ESTIMATE For personal use only Lithium Carbonate Year 1-10 Production Production (13ktpa) Item US$ per tonne LCE • Operating cost estimates include brine extraction, Raw materials 1,188 processing and production of battery grade lithium Freight on raw materials 95 carbonate. Electrici
Slide 22: Operating at Low-End of Cost Curve
OPERATING AT LOW-END OF COST CURVE For personal use only Global Lithium Carbonate C1 Cost Curve (2025)1,2 Paradox Lithium Project DFS2 Years 1-10 1 – Source: Benchmark Minerals Intelligence (Q2 2022) Lithium Quarterly report. 2 – Paradox Lithium Project DFS production cost position on the global lit
Slide 23: Financial Evaluation
FINANCIAL EVALUATION For personal use only Project Cash Flows Key Financial Metrics Unit Further resource update from Mississippian Capital Cost US$ m 495 400 formation at Cane Creek expected to 3,500 enhance economics in later years US$ / t C1 Operating Costs 4,368 LCE 3,000 300 Forecast Price – Li
Slide 24: Anson's Funding Strategy
ANSON’S FUNDING STRATEGY For personal use only • Appointed BurnVoir Corporate Finance as financial adviser • Strong initial interest from leading international banks, export credit agencies Debt and credit funds • Engagement commenced with US Department of Energy Loan Programs Office Phase 1 DFS Pro
Slide 25: Green River Lithium Project
For personal use only GREEN RIVER LITHIUM PROJECT Anson Resources | ASX: ASN
Slide 26: Green River – Extending Potential at Paradox
GREEN RIVER – EXTENDING POTENTIAL AT PARADOX For personal use only In 2023, Anson staked a second lithium project in Paradox Basin, The Green River Lithium Project. The Green River Project is located 50 kms northwest of 2nd Project – Paradox Lithium Project, consisting of 1,251 placer claims, an are
Slide 27: Green River – Key Attractions
GREEN RIVER – KEY ATTRACTIONS For personal use only The Green River Project includes historic oil & gas wells, drilled into the thick Mississippian units. • Infrastructure already in place – existing rail & road access and utilities abutting project area. • Surveys commenced in preparation for Notic
Slide 28: Resource Increase Potential from Western Strategy and Green River
ANSON’S PARADOX PROJECT: o Western strategy and Green River drilling program targets have the potential to increase resource three fold 1M Western Strategy Exploration Target* 1MT 1M Paradox JORC Paradox JORC Resource Resource ver xploration target* 1 Western Strategy Exploration Target* 1 Paradox J
Slide 29: US Offtake Strategy
US OFFTAKE STRATEGY For personal use only • Preliminary discussions and interest from Tier 1 US-based automakers and cell makers • Offtake discussions to accelerate with the benefit of the recently completed JORC Resource upgrade and release of the Definitive Feasibility Study. • Paradox’s significa
Slide 30: What Is Clean Lithium?
WHAT IS CLEAN LITHIUM? For personal use only Direct Lithium Extraction, High Purity, Low Footprint Production of High Purity >99.95% Li2CO3 Delivery of Longer Battery Life Direct Lithium Extraction No mining / reduced ground disturbance Processed brine to be returned to horizon Low Energy and Water
Slide 31: Li Battery Testing – Premium Performance
LI BATTERY TESTING – PREMIUM PERFORMANCE For personal use only • Testing conducted on Lithium Carbonate produced from Paradox project brine. Testing involved running 100s’ of charge/discharge cycles in lithium-ion pouch cells (NMC622 based) • Anson’s Li2CO3 demonstrated lower capacity loss during in
Slide 32: Phase 2 – Bromine Production
PHASE 2 – BROMINE PRODUCTION For personal use only Paradox Project is well placed to supply bromine to the rapidly growing stationary energy storage battery market in the United States, with large resources and proximity to planned major energy storage projects on the east coast of the United States
Slide 33: Developing Resources for a Sustainable Future
DEVELOPING RESOURCES FOR A SUSTAINABLE FUTURE For personal use only Future Facing Commodities in Tier 1 Jurisdictions United States Portfolio West Australian Portfolio Anson’s Strategy supporting Net Zero by 2050 Lithium Boron Bromine Powering Energy Transition and Electric Vehicles Supporting Renew
Slide 34: Thank You
For personal use only THANK YOU +61 7 3132 7990 info@ansonresources.com www.ansonresources.com Suite 3, Level 3 10 Eagle Street, Brisbane, QLD 4000 Anson Resources | ASX: ASN
Slide 35: Appendix – Peer Table References
APPENDIX – PEER TABLE REFERENCES For personal use only Company Production Target (LCE) Source Livent 50kpta https://s22.q4cdn.com/453302215/files/doc_presentations/2023/02/Livent-BMO-Investor-Presentation.pdf https://www.seplite.com/sunresin-minmetal-s-lithium-carbonate-project-passes-project- Lanke
Slide 36: Competent Person's Statement
COMPETENT PERSON’S STATEMENT For personal use only Competent Person’s Statement 1: The information in this presentation that relates to exploration results, exploration targets and geology is based on information compiled and/or reviewed by Mr Greg Knox, a member in good standing of the Australasian