Slide 1: December Quarter FY26 Activities Presentation
December Quarter FY26 Activities Presentation 30 January 2026 ASX: PLS
Slide 2: Our Purpose: Powering a sustainable energy future
Our Purpose Vision Mission Powering a sustainable energy future Li Strategic Operate Grow Chemicals Diversify pillars Deliver our Achieve full Extract greater Diversify operating potential of our value along the revenue beyond performance global assets battery materials Pilgangoora commitments suppl
Slide 3: Positioned for value creation through the cycle
Positioned for value creation through the cycle Resilient operations, strategic flexibility and financial strength to navigate market cycles Strategically positioned Exposure to established and ex-China supply chains with flexible operating platform GWANGYANG, SOUTH KOREA POSCO Pilbara Lithium Solut
Slide 4: December Quarter highlights
December Quarter highlights Increase in sales and pricing supports strong cash flow Sales Pricing Revenue Cash 8% vs Sep Q 57% vs Sep Q 49% vs Sep Q 12% vs Sep Q 1 2 232.0kt US$1,161/t $373M $954M sold SC5.2 Group revenue Cash balance Positioning Ngungaju restart - under review - early works complet
Slide 5: Health and safety
Health and Health andSafety safety Building the culture, systems and processes to ensure everyone goes home safely every day 3.79frequency rate (TRIFR)1 3.79 Total recordable injury 3.80completed 3.80 Quality safety interactions (target 1.6) per 1,000 hours worked2 (target 1.6) Total recordable inju
Slide 6: Pilgangoora Operation
Pilgangoora Operation Solid operational Quarter delivered in line with plan amid improving market conditions Production Mining and processing Sales performance • TMM increased to 8.1Mt due to Sales of 232.0kt with Operating improved operational efficiencies. an average estimated performance for the
Slide 7: Chemicals
Chemicals Preserving long-term growth optionality and strategic positioning across the lithium value chain Mid-Stream POSCO Pilbara Lithium Solution (P-PLS) Joint Downstream Demonstration Plant Lithium Hydroxide chemical facility Partnering Study (Ganfeng) Construction complete in • 18% interest in
Slide 8: Optimising the portfolio through the cycle
Optimising the portfolio through the cycle Evaluating upstream growth options in light of changing market conditions Optionality established Evaluating portfolio sequencing PLS preserved operations and Ngungaju Processing Plant balance sheet strength through • Evaluation of a potential ~200ktpa1 r
Slide 9: December Quarter financials
December Quarter financials 9
Slide 10: December Quarter FY26 – vs prior Quarter
December Quarter FY26 – vs prior Quarter Robust Quarter strengthens financial position Category Units Dec Q FY26 Sep Q FY26 % Revenue increased 49% to $373M, driven by a 57% improvement in average realised price and 8% Production volume kt 208.0 224.8 (7) higher sales volumes. Sales volume kt 232.0
Slide 11: December Quarter FY26 – cash flow bridge
December Quarter FY26 – cash flow bridge Strong cash generation delivers $102M increase to $954M Cash flow bridge – 30 September 2025 to 31 December 2025 ($M) Cash increased by $102M in the Quarter to $954M, driven by higher revenue from improved pricing and 334 increased sales volumes, ongoing cost
Slide 12: H1 FY26 – vs prior corresponding period
H1 FY26 – vs prior corresponding period Strong pricing and volume growth drives 47% revenue increase Category Units H1 FY26 H1 FY25 % Revenue of $624M was 47% higher than pcp, driven by a 40% increase in average realised price Production volume kt 432.8 408.3 6 and a 7% increase in sales volume. Sal
Slide 13: H1 FY26 – cash flow bridge
H1 FY26 – cash flow bridge Sustainable cash generation through operational discipline and cost efficiency Cash flow bridge – 30 June 2025 to 31 December 2025 ($M) Cash balance remained strong at $954M as at 31 499 December 2025, decreasing $20M during the half. The decrease was primarily due to work
Slide 14: Market update
©®PLS Market update 14
Slide 15: Lithium market – dynamics shifting
Lithium market – dynamics shifting An evolving market shaped by volatility, emerging maturity and rising end-use demand Spodumene concentrate price (US$/t SC6.0, CIF China basis)1,2 • Average1 SC6 price of approx. US$2,335/t as at 26 January 2026. 7,500 12 month price movement • Inflection point – I
Slide 16: Growth continues to compound strongly
Growth continues to compound strongly EV adoption and energy storage drove sustained lithium consumption in 2025 EV sales (M units)1 BESS demand (GWh)1 Lithium demand by end-use (Kt LCE)1 25 350 1,600 20% 45% 23% 300 1,400 20 250 1,200 15 1,000 200 800 150 10 600 100 400 5 50 200 0 0 - 2020 2021 202
Slide 17: Long-term demand trajectory
Long-term demand trajectory Policy settings, technology adoption and energy transition underpin multi-decade demand EV sales (M units)1 BESS demand (GWh)1 Lithium demand by end-use (Kt LCE)1 100 1 6,000 1 5,000 11% CAGR 75 10% CAGR 1 4,000 9% CAGR 1 50 3,000 1 2,000 0 25 1,000 0 0 0 - 2025 2030e 203
Slide 18: Questions
©®PLS Questions 18
Slide 19: Contacts
Contacts Investor Relations James Fuller Group Manager, Investor Relations T: +61 (0) 488 093 763 James.Fuller@pls.com Media Michael Vaughan Fivemark Partners T: +61 (0) 422 602 720 19
Slide 20: Appendix
©®PLS Appendix 20
Slide 21: Physicals summary
Physicals summary Total Ore Mined and Processed Units Dec Q FY25 Mar Q FY25 Jun Q FY25 Sep Q FY26 Dec Q FY26 H1 FY25 H1 FY26 Ore mined wmt 1,191,453 1,137,437 1,500,849 1,725,478 1,514,444 2,580,151 3,239,922 Waste material wmt 5,728,569 4,503,580 4,890,456 5,978,805 6,627,413 13,807,137 12,606,218
Slide 22: Important notices
Important notices This document has been prepared by PLS Group Limited (PLS or the Group) and is dated 30 January 2026. This document should be read in conjunction with the ASX announcement titled “December Quarterly Activities Report” released to the ASX on 30 January 2026. Not an offer of securiti
Slide 23: Important notices
Important notices Important Information regarding Mineral Resources, Ore Reserves Information in this document regarding production targets and expansions in nameplate capacity of the Pilgangoora Operation in respect of the P850 and P1000 operating models and the P2000 expansion project, are underpi