Australian Vanadium Limited · ASX:AVL
Australian Vanadium — Shareholder Meeting (November 2025)
25 slides from Australian Vanadium's shareholder meeting presentation, Nov 20, 2025
Slide 1: Annual General Meeting Chair Address
ASX ANNOUNCEMENT 20 NOVEMBER 2025 ANNUAL GENERAL MEETING CHAIR ADDRESS Australian Vanadium Limited (ASX: AVL, the Company or AVL) is pleased to provide the Chair’s Address to be read at the Company’s Annual General Meeting today. Good afternoon and welcome to Australian Vanadium Limited’s 2025 Annua
Slide 2: Chair Address (continued): Kalgoorlie opportunity and 2025 progress
resilience for the energy transition and aligning with the Australian Government’s National Battery Strategy and ARENA's $500 million Battery Breakthrough Initiative, 4 which is part of the Government's Future Made in Australia policy agenda. AVL can help our nation avoid reliance on offshore minera
Slide 3: Chair Address (continued): outlook
the production of high-purity vanadium oxides and electrolyte manufacture in Western Australia. • Recognition under the Western Australian Government’s Green Energy Major Projects program, 7 confirming AVL’s importance to the State’s decarbonisation and industrial diversification agenda. • Continued
Slide 4: Vanadium: Australia's critical mineral advantage for energy security
Vanadium Australia’s critical mineral advantage for energy security Annual General Meeting – 20 November 2025 ASX:AVL
Slide 5: Compliance & Cautionary Forward-looking Statements
Compliance & Cautionary Forward-looking 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.
Slide 6: Message from the Chair
Message from the Chair Australia has built a global reputation as a resource powerhouse — but one that exports raw materials, only to import the finished products. We’ve done it with iron ore and steel, lithium and batteries, and critical minerals of every kind. Each time, we’ve created wealth offsh
Slide 7: Australian Vanadium Limited
Australian Vanadium Limited AVL provides compelling energy firming solutions using vanadium. Our competitive Lumina technology positions us to develop, build and manage giga-scale vanadium flow batteries (VFBs), addressing the new firming market and catalysing demand for vanadium from our world-clas
Slide 8: FY2025 – Year in review
FY2025 – Year in review FY25 was a year of focussed execution as we aligned our strategy with the global energy transition. As the world moves away from fossil fuels, the need for reliable long duration energy storage and therefore vanadium, has never been greater. Progressed the Optimised Feasibili
Slide 9: BESS deployment continues to grow – VFBs gaining market share
BESS deployment continues to grow – VFBs gaining market share • Increasing renewable power generation • Over 6GWh of VFBs in operation globally continues to drive BESS demand • Further 44GWh of projects either in construction or announced • Forecast 12% CAGR over next decade • Increasing VFB deploym
Slide 10: Case study – world's first 1GWh VFB
Case study – world’s first 1GWh VFB • The world’s first 1GWh VFB was grid connected in May2025 • The battery system can deliver five hours of continuous output to smooth out supply of abundant solar and wind • The development supports Xinjiang’s wider goal of becoming a national clean-energy centre,
Slide 11: VFBs operational advantage creates competitive advantage in key emerging markets
VFBs operational advantage creates competitive advantage in key emerging markets VFBs’ advantages over established BESS technology – including duration, no thermal runaway risk, no degradation and depth of duration – will see this technology gain greater market share in new BESS markets Data centres
Slide 12: Global policy around long duration energy storage is set to supercharge VFB adoption
Global policy around long duration energy storage is set to supercharge VFB adoption Governments are engaging a number of policies to support long duration energy storage. Key mechanism include: • Revenue underwrites: UK Cap-and-Floor, AU CIS/LTESA, Italy MACSE — secure long-term floor revenues • Ta
Slide 13: Why the WA Government is providing $150m to support a VFB BESS in Kalgoorlie
Why the WA Government is providing $150m to support the development of a VFB BESS in Kalgoorlie 1. Boosting energy 2. Developing local 3. Creating jobs and reliability in the vanadium supply diversifying the Goldfields chains and regional economy manufacturing Australian-first battery project to rei
Slide 14: Project Lumina: a turnkey VFB BESS architecture
Project Lumina: a turnkey VFB BESS architecture tailored for Australian build-own-operate delivery • Simple and scalable supply chain: vanadium, tanks, Control room pumps, piping, power stacks • Configuration optionality to meet specific land requirements • Utilisation of industry standard inverters
Slide 15: AVL's VFB BESS solution will be unrivalled in maximising local WA content
AVL’s VFB BESS solution will be unrivalled in the market from the perspective of maximising local WA content across the value chain AVL’s unique VFB BESS deployment architecture can maximise local content enabling the creation of a sustainable battery industry supply chain in Western Australia Indic
Slide 16: Kalgoorlie VBESS – update on expected timing and process
Kalgoorlie VBESS – update on expected timing and process Commitment to long duration energy storage, WA vanadium, and battery manufacturing “"This [Kalgoorlie VBESS] project reflects our commitment to strengthening regional energy resilience, supporting long- duration storage solutions, and advancin
Slide 17: A single utility scale VFB BESS unlocks globally significant demand for vanadium
A single utility scale VFB BESS unlocks globally significant demand for vanadium 50MW/ 4kt c.1.7% 500MWh VFB BESS ~ V2O5 demand1 ~ Of global V2O5 supply2 1. AVL internal, utility scale VFB BESS modelling 2. TTP Squared, Inc – 2024 global vanadium market size 133,000 metric tonnes vanadium (equivalen
Slide 18: Leveraging our electrolyte expertise via new processing and deployment pathways
Leveraging our electrolyte expertise via new processing and deployment pathways • AVLs electrolyte has been qualified with a range of global VFB OEMs • COO, Todd Richardson, and Product Development Manager, Dr Yifeng Li, were nominated to join the Australian National Committee to develop VFB standar
Slide 19: The world class Australian Vanadium Project can provide vanadium for the global VFB industry
The world class Australian Vanadium Project can provide the vanadium for the growing global VFB industry A world class asset located in Western Australia, a Tier-1 mining jurisdiction Simple open pit mining with standard magnetite concentrator process Global vanadium MRE of 395.4Mt at 0.77% V2O5 inc
Slide 20: The forecast growth in vanadium demand is not reflected in the current spot price
The forecast growth in vanadium demand is not reflected in the current spot price • Vanadium demand is forecast to grow by +100MTV by 2030 as VFB deployment accelerates in China and other regions such as North America, Europe and Australia • VFB deployments in China are expected to result in the des
Slide 21: Vanadium: delivering positive economic outcomes for Western Australia
Vanadium: delivering positive economic outcomes for Western Australia Benefits for Western Australia Vanadium 1 Growing or improving industrial capability 2 Helping industry pursue value-adding opportunities 3 Improving economic diversity 4 Crowding-in private finance 5 Decarbonisation 6 C
Slide 22: Investment highlights
Investment highlights Strong government Strategic Australia’s grid VFB global support for long positioning for World class continues to penetration duration energy downstream Australian transition to growing storage opportunities Vanadium Project renewables • VFB rapid uptake • Competitive • Advance
Slide 23: Appendix
Appendix 20
Slide 24: Mineral Resource Estimate
Mineral Resource Estimate Zone Category Mt V2O5 % Fe % TiO2 % SiO2 % Al2O3 % 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 142.5 0.48 24.9 6.6
Slide 25: www.avl.au
+61 (08) 9321 5594 info@avl.au www.avl.au Level 2, 50 Kings Park Road, West Perth, Western Australia 6005 Australian Vanadium Limited | ASX: AVL
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