Slide 1: Infinity Lithium Investor Presentation June 2020
For personal use only INFINITY LITHIUM Investor Presentation June 2020 1
Slide 2: Disclaimer
Disclaimer For Consideration This presentation has been prepared by Infinity Lithium Corporation Limited “Infinity Lithium”. This document contains background information about Infinity Lithium current at the date of this presentation. The presentation is in summary form and does not purport to be a
Slide 3: Infinity Lithium – European Lithium Hydroxide Project
INFINITY LITHIUM – EUROPEAN LITHIUM HYDROXIDE PROJECT 1 3 For personal use only Europe to be the 2nd Infinity is a fully Producing 15Kt¹ of 30-year production, total largest market for integrated and Lithium Hydroxide per revenues US$6 Billion, battery grade lithium sustainable project in year, able
Slide 4: The European Lithium-ion Battery Supply Chain
For personal use only The European Lithium-ion Battery Supply Chain 4
Slide 5: The European Lithium-ion Battery Supply Chain
The European Lithium-ion Battery Supply Chain Battery Metals Battery Battery Manufacturing Manufacturing Chain Chain End-Users For personal use only Lithium Lithium Cathodes Battery Cells & Packs Electric Vehicles Mining Conversion Western Players Asian Players Western Players Western Players INFINI
Slide 6: Multitude Of Lithium-ion Factories Planned In Europe
Multitude Of Lithium-ion Factories Start 2021, up to 40GWh Planned In Europe Start 2023, up to 32GWh For personal use only Today <10GWh Tomorrow >500GWh Capacity announced Start 2024, up to 32GWh Started 2010, 2.5GWh Start 2021, up to 12GWh Start 2023, up to Started 2018 6GWh 35GWh later up to 70GWh
Slide 7: Europe To Become The Second Largest Consumer Of Lithium
Europe To Become The Second Largest Consumer Of Lithium A fully integrated European Lithium-ion battery supply chain Lithium Chemical Supply in 2019 For personal use only will require more than the global production of lithium today European Equivalent Lithium Electric Car Battery Demand M Productio
Slide 8: Headlines In The Last Two Months In Europe
Headlines In The Last Two Months In Europe… Electric Vehicles Batteries & Cathodes For personal use only • Europe eclipses China in EV investment • EU’s battery mega-projects charge on despite virus • EU Commission considers €100bn on euro transport package • LG Chem secures €500M for Polish factory
Slide 9: Highly Fragmented Supply Chain & Carbon Footprint
Highly Fragmented Supply Chain & Carbon Footprint The lithium inside you car travels more than 50,000km before you even start driving* For personal use only Lithium Lithium Hydroxide Cathodes Cells Battery Pack EV End Carbonate Customer 7,000Km 18,000Km 400Km 9,700Km 450Km 16,000Km Chile USA Japan S
Slide 10: The EU's Push For Lithium Self-Sufficiency
For personal use only The EU’s Push For Lithium Self-Sufficiency 10
Slide 11: The EU's push for battery raw materials self-sufficiency
The EU’s push for battery raw materials self-sufficiency • European Commission “Develop a strategic value chain for manufacturing EV LIBs For personal use only inside Europe” - “Secure access to raw materials such as lithium” • “Unless we develop our own mining & refining capacity, the EU will conti
Slide 12: EU Is Getting Organized To Support Lithium Investment
EU Is Getting Organized To Support Lithium Investment For personal use only European Battery Alliance (EBA): • Includes the European Commission, the EIB and key industry stakeholders such as automakers, battery and European Union cathode producers European Commission • EBA’s goal: create a competiti
Slide 13: Infinity Becomes 1st Project To Secure EU Funding
Infinity Becomes 1st Project To Secure EU Funding EU Binding Deal In 6 points For personal use only 1. Investment: InnoEnergy to fund up to €800K in INF to support the development of phase I of Infinity’s pilot plant 2. Support fundraising activities for phase II of INF’s pilot plant from both publi
Slide 14: Infinity Becomes 1st Project To Secure EU Funding
Infinity Becomes 1st Project To Secure EU Funding EU Binding Deal In 6 points For personal use only 4. Off take Agreement: Through the European Battery Alliance network, InnoEnergy will support and facilitate negotiations with European off-takers The EBA network includes >400 participants covering t
Slide 15: Infinity's Fully Integrated & Sustainable Lithium Project
For personal use only Infinity’s Fully Integrated & Sustainable Lithium Project
Slide 16: Strategically Located in Extremadura, Spain
Strategically Located in Extremadura, Spain For personal use only Gigafactory Cathode Plant Lithium Project San Jose Valdeflorez Multitude Of Lithium-ion Factories Planned in Europe The San Jose Valdeflorez Lithium Project is located ~280km from Madrid in the region of Extremadura. The project open
Slide 17: A Large And Long-Term Asset Supporting EV Growth
2. A Large And Long-Term Asset Supporting EV Growth For personal use only Second largest lithium resource in the European Union 1.6Mt JORC Resource 111.2Mt (Ind. 59Mt, Inf. 52.2Mt), Probable Reserves 37.2Mt LCE LCE: Lithium Carbonate Equivalent To operate for 30 years, including 19 years of mining b
Slide 18: San Jose Mineral Resource
2. A Large And Long-Term Asset Supporting EV Growth For personal use only San Jose Mineral Resource, Reported Above 0.1% Li Cut-off Parameter Amount Li% Li2O Sn Mt (%) ppm Resource: Indicated 59.0 0.29% 0.63 217 Inferred 52.2 0.27% 0.59 193 TOTAL 111.3 0.28% 0.61 206 Estimated using Ordinary Kriging
Slide 19: A Uniquely Fully Integrated Lithium Project
3. A Uniquely Fully Integrated Lithium Project For personal use only Hard-rock to dominate lithium production in the future: 2017 Rock Source: Canaccord Genuity easier to operate, lower risk jurisdiction, cheaper to 2025 Rock produce lithium hydroxide Li Production Capacity Today, >95% of lithium ha
Slide 20: A Uniquely Fully Integrated Lithium Project
3. A Uniquely Fully Integrated Lithium Project Mining Strip ratio Ore ROM Beneficiation Kiln Roasting Conversion For personal use only Total tonnes 0.43:1 Moved feed to (Flotation) Feed (Sulphate) (Hydromet) moved ex pit from pit plant Probable Reserves Stockpiled Hydromet Indicated: 59Mt 0.63% Li2O
Slide 21: A Uniquely Fully Integrated Industrial Lithium Project
A Uniquely Fully Integrated Industrial Lithium Project Pre-Production Capital Expenditure For personal use only Including Contingency $309M Contingency Other Other Processing 4% 83% Contingency Processing 13% Conversion Plant (Processing): • >83% of the total investment • Majority of jobs – 155 dire
Slide 22: A Uniquely Fully Integrated Lithium Project
3. A Uniquely Fully Integrated Lithium Project Mining Transport Refining For personal use only Mining Truck Upgrade Roasting Leaching Purification Alunite Lithium Purification LiOH (Beneficiation) Stage Sulphate Battery Grade 2017 Recycling Same process for both Scoping Study Li2CO3 or LiOH up to he
Slide 23: Ongoing Test Work To Deliver BG Lithium Hydroxide
Ongoing Test Work To Deliver BG Lithium Hydroxide For personal use only Phase 1 Phase 2 Bench Scale Pilot Plant • Target: Produce 400-600g of Battery Grade • Target: Produce 2-4kg of Battery Grade Lithium Lithium Hydroxide and deliver sample to Hydroxide and deliver sample to selected off- selected
Slide 24: A PFS Validating Strong Economics
A PFS Validating Strong Economics For personal use only INFINITY LITHIUM PROJECT LITHIUM HYDROXIDE PRE-FEASIBILITY STUDY NPV₁₀ Pre-tax US$860M IRR Pre-tax 42.3% Total Revenue From Lithium Hydroxide US$6Bn CAPEX² (Pre-production) US$268M OPEX¹ˑ³ US$5,434/t Capital Intensity $US16K/t Annual Production
Slide 25: Lithium Project Supported by Strong Economics
4. Lithium Project Supported by Strong Economics $/t LIOH Lithium Hydroxide Cost Curve (2022, US$/t) For personal use only 12,000 10,000 OPEX SAN JOSE $5,434¹ 8,000 6,000 4,000 2,000 0 0 40 80 120 160 200 240 280 Cumulative Production (000t) Source: Canaccord 2019 ¹Average C1 cost over 10 years of p
Slide 26: Lithium Hydroxide Asia Weighted Average Price
4. Lithium Project Supported by Strong Economics $/t LiOH Asia Weighted Average Price For personal use only 22,000 20,000 $13,500/t in March 18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 - Average Asia Import Price Average Asia Import Price Quarterly Benchmark Minerals LiOH CIF Asia Wei
Slide 27: A Sustainable, Low Carbon Footprint Operation
A Sustainable, Low Carbon Footprint Operation For personal use only Integrated plant and proximity to end- markets lead to very low transport 100% of our electricity requirement footprint, reducing CO2 emissions can be met by renewable energy to a minimum Using fertilizer or safe reagents for All re
Slide 28: San Jose Project Timeline
San Jose Project Timeline For personal use only Time 2020 2021 2022 2023 Offtake Permitting Financing Bench & Pilot Plant FS/DFS Construction Commission Production 28
Slide 29: Board of Directors & Management
Board of Directors & Management • BSc Geol Hons, B. Econ • +20 years in the mining industry both in listed and unlisted entities globally, Non-Executive and Executive Director of various listed Adrian Byass and unlisted mining entities, which have successfully transitioned to production in bulk, pre
Slide 30: Corporate Snapshot
Corporate Snapshot For personal use only Share Price(1) A$0.105 ASX Code INF FRA Code 3PM Shares on Issue(2) 238.8m Options (3) 23.9m Performance Rights(4) 6.3m SARS(5) 10.0m Market Capitalization(6) A$25.1m Cash(7) A$1.0m (1) INF closing share price 18th June 2020 Debt Nil (2) (3) Related party sha
Slide 31: Summary
Summary First Project To Sign Binding European Funding Deal Follow Us For personal use only with InnoEnergy infinitylithium.com Infinity is Strategically Located to Support Strong Demand Outlook For Lithium In Europe sanjosevaldeflorez.es A Large And Long-Term Asset Supporting EV Growth Infinity Lit
Slide 32: Developing lithium production in Europe to power a renewable future
For personal use only INFINITY LITHIUM Developing lithium production in Europe to power a renewable future 32
Slide 33: Appendix
For personal use only APPENDIX 1. 2. 3. Lithium Projects in Europe The Mica Story Infinity’s involvement in Europe 4. A Sustainable, Low Carbon Footprint Operation 5. Cathodes In Europe 6. EU Li-ion Battery Supply Chain News 7. Joint Venture Structure 33
Slide 34: Lithium Projects in Europe – Infinity On Top
1. Lithium Projects in Europe – Infinity On Top Company European Metals Infinity Lithium Savannah Res. Bacanora Keliber European Lithium Project Cinovec - Czech Republic San Jose - Spain Mino do Barroso - Portugal Zinnwald - Germany Several - Finland Wolfsberg - Austria Mineral Mica (Zinnwaldite) Mi
Slide 35: The Mica Story - Main Sources Of Hard Rock Lithium Today
2. The Mica Story - Main Sources Of Hard Rock Lithium Today For personal use only Spodumene : Australia Mica Extraction: China Mica Resources: EU Converted: China Converted: China Converted: EU 150Kt 25Kt >10Mt Identified +20% yoy +166% yoy Resource Infinity Lithium #2 Largest Deposit 35
Slide 36: The Mica Story - Lithium Production From Mica
2. The Mica Story - Lithium Production From Mica For personal use only Germany was the first country to convert mica into lithium chemicals back in the 50’s Today, there are at least 4 conversion sites in China converting mica into lithium chemicals, and they all have plans to increase capacity. In
Slide 37: The Mica Story - Mica Dominates European Lithium Resources
2. The Mica Story - Mica Dominates Keliber European Lithium Resources For personal use only Identified Lithium Resource in the EU Spodumene 12% Bacanora European Metals European Lithium Mica 88% Savannah Infinity Lithium 37
Slide 38: EU Financial Support In Practise: Infinity's Itinerary
EU Financial Support In Practise: Infinity’s Itinerary March 2020 For personal use only Final Presentation To BIP Committee and vote on collaboration proposal March 2020 MOU of Collaboration & Investment Agreement September 2019 - Brussels: January 2020 – Caceres, Spain: between Infinity and BIP BIP
Slide 39: A Sustainable, Low Carbon Footprint Operation
4. A Sustainable, Low Carbon Footprint Operation Hardrock Beneficiation For personal use only Spodumene Mica Other Processes Chinese Spodumene Converters Infinity & Others Available 35min 1,100°C $ Fertilizer $$ within the Ca2+ K2SO4 EU Roast Roast Roast Fe2+ 20min 840°C Non Hazardous Environmenta
Slide 40: A Sustainable, Low Carbon Footprint Operation
4. A Sustainable, Low Carbon Footprint Operation only • Very small water • All reagents available domestically useLithium requirement and most • Roasting process uses safe reagents San Jose is of the water is recycled such as potassium sulphate a unique • Chemical plant <3km • Leaching process uses
Slide 41: A Sustainable, Low Carbon Footprint Operation
4. A Sustainable, Low Carbon Footprint Operation Our initial Mining License Application for lithium carbonate utilized a very simple and plain tailings and waste storage For personal use only 2017 procedure. This resulted in a very large surface area being covered. It also impacted on our ability to
Slide 42: Cathode Evolution Leading To Shift In Lithium Demand
5. Cathode Evolution Leading To Shift In Lithium Demand For personal use only NMC – a leading technology evolving Lithium Demand: Carbonate vs. Hydroxide Nickel Manganese Cobalt Lithium • NMC is set to dominate the industry • Lithium hydroxide demand is growing faster than lithium • The NMC cathode
Slide 43: Several Cathode Plants Planned In Europe
5. Several Cathode Plants Planned In Europe In The Early 2020s Northvolt is also planning to build its cathodes in- For personal use only house after they start their battery factory in Sweden BASF and Norilsk Nickel to cooperate on raw material supply for battery materials production in Europe. BAS
Slide 44: May News - European Li-ion Battery Supply Chain
6- May News - European Li-ion Battery Supply Chain LG Chem secures €500M for Polish Proactive Financial Times Electrive Electrive For personal use only factory expansion Infinity Lithium presents San Jose Emmanuel Macron injects Spain ups stakes for scrapping project to European Commission €8bn to f
Slide 45: San Jose Lithium Project - Joint Venture Structure
7. San Jose Lithium Project - Joint Venture Structure For personal use only Infinity Lithium Corporation Limited 100% Tonsley Mining Pty Valoriza Mineria Ltd 100% Extremadura Mining Tecnolgia Extremena Del Lito 75% S.L. 25% Option to move to 100% San Jose Lithium Project Infinity Lithium Corporation
Slide 46: For personal use only
For personal use only www.infinitylithium.com 46