Core Lithium Ltd · ASX:CXO
Core Lithium — Q1 FY27 Earnings Presentation
18 slides from Core Lithium's earnings presentation, Oct 14, 2026
Slide 1: September Quarter FY27
rsonal use only September Quarter FY27 14 OCTOBER 2026
Slide 2: Important and Cautionary Notes
Important and Cautionary Notes This presentation has been prepared by Core Lithium Ltd (“Core”, “Company”) and provides a general overview of the “Updated Ore Reserve at Carlton” on 10 September 2025 and “Updated Grants Mine Plan and Ore Reserve” on 10 Company and its strategy. November 2025. The Co
Slide 3: Finniss Lithium Operation
Finniss Lithium Operation Long life, fully funded operation with established infrastructure and expansion optionality FINNISS LITHIUM OPERATION rsonal use only ~20 year 1.2 Mtpa TOTAL PROJECT MINE LIFE1 THROUGHPUT1 257 ktpa $635/t SC5 PRODUCTION2 SC5 UNIT COST3 $157m $244m RESTART CAPITAL REMAINING4
Slide 4: September Quarter Highlights
September Quarter Highlights Plant commissioning underway, first concentrate production achieved and BP33 development progressing to plan rsonal use only Sales and Corporate Operations Development Exploration Marketing Strong financial position with Mining and ore stock build BP33 underground Logist
Slide 5: On track for steady state production in 2028
On track for steady state production in 2028 Key operational and development milestones tracking to schedule March Q2 Q2 Q3 Q4 H1 Mid Mid rsonal use only 2026 CY26 CY26 CY26 CY26 CY27 CY27 CY28 Grants open pit mining BP33 commenced First underground Key mining concentrate development BP33 Plant cont
Slide 6: Significant progress achieved at Grants open pit since FID March 2026
Significant progress achieved at Grants open pit since FID 1 March 2026 rsonal use only FID 2 May 2026 Mining commenced September 2026 Mining ongoing 3 6
Slide 7: Grants near-term production platform delivering on plan
Grants near-term production platform delivering on plan Mining volumes increasing to build ore stocks during the Quarter rsonal use only • Mining and ore stock build progressing in line with plan • ~134kt of SC5 product expected from Grants in total, with 1 first shipment in the December quarter • A
Slide 8: Initial brownfields plant upgrades complete
Initial brownfields plant upgrades complete Reflux classifier installation on schedule for FY27 rsonal use only • Initial plant upgrades completed to debottleneck the circuit and support improved liberation, recoveries and throughput including: • screen refurbishments; • enhancements in the rolls cr
Slide 9: First concentrate produced as commissioning continues
First concentrate produced as commissioning continues Initial brownfields plant upgrades complete rsonal use only • First spodumene concentrate produced from the upgraded Finniss processing plant • First production achieved within six months of FID • Initial upgrades completed to debottleneck the ci
Slide 10: BP33 underground development advancing on schedule
BP33 underground development advancing on schedule First development ore on track for mid-CY27 rsonal use only Key underground development activities in the Quarter included: • Completion of the underground portal construction, including steel headcover installation • Installation and commissioning
Slide 11: BP33 momentum continues across surface infrastructure works
BP33 momentum continues across surface infrastructure works Key infrastructure construction progressing in line with the BP33 development plan BP33 construction activities during the Quarter included: rsonal use only • Progression of critical ventilation infrastructure works, with piling activities
Slide 12: BP33 extensional exploration drilling delivering results
BP33 extensional exploration drilling delivering results Follow-up drilling underway targeting extensions to mineralisation rsonal use only • The first exploration diamond drill hole completed outside the current BP33 Mineral Resource returned high-grade lithium mineralisation, including 34.08m @ 2.
Slide 13: Blackbeard exploration program ongoing
Blackbeard exploration program ongoing Drilling underway to support a maiden MRE at highest priority growth prospect • The Blackbeard exploration program continued during the rsonal use only period, designed to support a maiden Mineral Resource Estimate and further assess its potential as a future s
Slide 14: Cashflows reflect operational transition
Cashflows reflect operational transition Funding receipts increased cash while operating costs began and restart capex accelerated 300 A$ rsonal use only million 36 8 • Funding receipts: $98 million net of fees: (11) (13) • $62 million from Tranche 2 Convertible Note funding 250 62 (7) 35 244 (7) re
Slide 15: Executing to plan
Executing to plan Restart schedule, production plan and capital assumptions remain unchanged since FID rsonal use only COMPLETED IN PROGRESS UPCOMING Funding package Grants mining First shipment Secured Ongoing December quarter Major contracts Plant commissioning Reflux classifier Awarded Optimisati
Slide 16: Contact
rsonal use only This presentation has been approved for release by the Core Lithium Board Contact Core Lithium Ltd Level 4, 186 St Georges Terrace Perth WA 6000 E info@corelithium.com.au Investor Enquiries Media Enquiries Paul Brown Cameron Morse Managing Director FTI Consulting +61 8 8317 1700 +61
Slide 17: Appendix – JORC Mineral Resource Estimate
Appendix 1 – JORC Mineral Resource Estimate Measured Indicated Inferred Total rsonal use only Mineral Resource Li2O Li2O Li2O Li2O Tonnes Tonnes Tonnes Tonnes Li2O% Contained Li2O% Contained Li2O% Contained Li2O% Contained (Mt) (Mt) (Mt) (Mt) Metal (kt) Metal (kt) Metal (kt) Metal (kt) Grants 1.34 1
Slide 18: Appendix – JORC Ore Reserve Estimate
Appendix 2 – JORC Ore Reserve Estimate Ore Tonnes Contained Notes Deposit Category Li2O (%) (Mt) Li2O (kt) 1. Effective date of the Grants Ore Reserves is 30 October 2025. rsonal use only 2. Effective date of the Carlton Ore Reserves is 5 September 2025 (“Updated Ore Reserve at Proved 2.6 1.27 32 Ca