Vulcan Energy Resources Ltd. · ASX:VUL
Vulcan Energy Resources — Investor Presentation (April 2025)
39 slides from Vulcan Energy Resources's investor presentation, Apr 2, 2025
Slide 1: Corporate Presentation Q2 2025
For personal use only Corporate Presentation Q2 2025 DETERMINED FOR A BETTER TOMORROW ASX/FSE: VUL
Slide 2: Disclaimer
DISCLAIMER1 Disclaimer, acknowledgement and agreement. Vulcan, to the maximum extent permitted by law, expressly excludes and disclaims all liability (including, without limitation, any liability arising out of fault or negligence on the part of any person) for any direct, indirect, consequential or
Slide 3: Empowering a Carbon Neutral Future
EMPOWERING A CARBON NEUTRAL FUTURE Vulcan values High quality strategic shareholders ASX/FSE Prime Standard / VUL CLIMATE CHAMPION For personal use only Shares on issue / ~218m DETERMINED Market Capitalisation1 / ca. €634m (A$1.10bn)2 INSPIRING Cash3 / €97m (~A$162m) High quality strategic sharehold
Slide 4: Product | Project | Technology
For personal use only PRODUCT | PROJECT | TECHNOLOGY
Slide 5: A premium industry-leading lithium product for battery electric vehicles
For personal use only A premium industry-leading lithium product for battery electric vehicles V is for Vulcan. We strive to be climate champions Li is for high purity, sustainable* and versatile, battery- grade lithium products O is for zero fossil fuels directly used in our onsite process to produ
Slide 6: Supplying the European Auto Industry
SUPPLYING THE EUROPEAN AUTO INDUSTRY Fully contracted lithium production drives pricing stability1 Low counterparty risk: high quality European-focused offtake partners For personal use only Long term relationships: all offtake agreements binding, take-or-pay, with agreed pricing mechanisms, 5-10 ye
Slide 7: European Market Structurally Short of Lithium
EUROPEAN MARKET STRUCTURALLY SHORT OF LITHIUM Lithium supply in a structurally short market Global Supply / Demand Balance For personal use only Global supply for LHM looks challenged relative to growth rates in lithium battery production Supply/demand balance even more acute in Europe, which finds
Slide 8: Product Flexibility
PRODUCT FLEXIBILITY Well-positioned for the future For personal use only Vulcan’s high purity lithium chloride (LiCl) precursor product is fully flexible, and can be converted according to customers’ needs for the battery chemistries of the future: Lithium hydroxide monohydrate (LHM) can be produced
Slide 9: A Clear Leader in Sustainability
A CLEAR LEADER IN SUSTAINABILITY Phase One targets: For personal use only Produce enough lithium for ca. 500,000 electric vehicles p.a.2 Avoid 10Mt CO2 eq. through decarbonising the lithium supply chain3 Targeting renewable heat for ca. 90,000 Environmental and Social Impact Assessment people4 (ESIA
Slide 10: Base Load Renewable Heat and Power
BASE LOAD RENEWABLE HEAT AND POWER Decarbonising local industry and communities For personal use only Commencing baseload, renewable heat supply Providing stable, baseload green heat for local communities Decarbonising industrial heat supply for large customers Currently producing stable, baseload r
Slide 11: Product | Project | Technology
For personal use only PRODUCT | PROJECT | TECHNOLOGY
Slide 12: Awarding of EU Strategic Project Status
AWARDING OF EU STRATEGIC PROJECT STATUS On 25 March 2025, the EU Commission announced 47 Strategic Projects to For personal use only increase the European Union’s (EU) capacity to extract, process and Strategic Project status aims to offer: recycle strategic raw materials and diversify EU supplies f
Slide 13: Building Renewable Energy and Lithium Chemicals Production
BUILDING RENEWABLE ENERGY AND LITHIUM CHEMICALS PRODUCTION 275GWh power LiCl concentrate for 24,000tpa Phase one 560GWh heat1 24,000tpa LHM equivalent LHM1 2. Well 3. Geothermal 4. Lithium Extraction Plant 5. Central Lithium Plant Electric For personal use only sites Plant (LEP) (CLP) Mobility Renew
Slide 14: Uniquely Positioned
UNIQUELY POSITIONED Poised to capture the next phase of growth1 Strong customer relationships: Vulcan has offtake agreements with tier-one European counterparties covering majority of first 10 years of For personal use only production2, reduces pricing and market risk Tier-one asset: 30-year project
Slide 15: Integrated Renewable Energy & Lithium: Phase One Lionheart
INTEGRATED RENEWABLE ENERGY & LITHIUM1 Phase One: Lionheart Integrated renewable energy, lithium salts and lithium hydroxide production from sub- surface brines in the Rhine Valley. Targeting 24,000 tonnes p.a2. LHM production: For personal use only enough for 500,000 electric vehicles every year6 T
Slide 16: World-Class Lithium District: Lionheart
Industrie-Park Höchst Downstream LHM production Ability to expand to 3 phases WORLD-CLASS LITHIUM DISTRICT: LIONHEART Frankfurt Ability to expand with low cost, sustainable production Global tier-one lithium resource, and largest in For personal use only Europe: 27.7 Mt LCE estimated in 10 of Vulcan
Slide 17: Vulcan's Phase One Project: Lionheart
VULCAN'S PHASE ONE PROJECT: LIONHEART Low cost, sustainable integrated lithium and energy production from Europe, for Europe 2 3 For personal use only 4 1 17 1 Vulcan’s 100% owned Insheim Geothermal Power Plant and wells 2 Operating well site and Lithium 3 G-LEP – Option agreement signed to secure s
Slide 18: Europe's First Fully Domestic Lithium Chemicals Supply Chain
EUROPE’S FIRST FULLY DOMESTIC LITHIUM CHEMICALS SUPPLY CHAIN Combined €60m investment by Vulcan in two Optimisation/Qualification Plants For personal use only LEOP: Vulcan’s operational lithium extraction optimisation plant CLEOP: Vulcan’s operational lithium electrolysis optimisation plant • High q
Slide 19: Targeting the Lowest Quartile of the Lithium Cost Curve
VULCAN WILL BE TARGETING THE LOWEST QUARTILE OF THE LITHIUM COST CURVE Powered by low cost, highly efficient A-DLE production that leverages renewable heat Global projected lithium hydroxide C1 cost curve For personal use only Brine Integrated Spodumene - RoW Integrated Mica Integrated Spodumene - A
Slide 20: EPCM Partner Validation Exercise Completed
EPCM PARTNER VALIDATION EXERCISE COMPLETED Much improved scope definition leading to reduced uncertainty and risk during execution, all with no material change to CAPEX For personal use only EPCM/ integrator: review of scope, cost and schedule, validating the BES, with no material increase in capita
Slide 21: Phase One Financing
PHASE ONE FINANCING1 Structuring banks Strong support from public and private sector €879m (~A$1.45bn) conditional debt commitment letter signed in December with For personal use only Export Finance Australia and commercial lending group of seven banks European Investment Bank Board approval receive
Slide 22: Key Milestones Achieved in 2024
KEY MILESTONES ACHIEVED IN 2024 Transformational period for Phase One Lionheart Project First LiCl production from upstream optimisation plant For personal use only Start of production at downstream lithium hydroxide optimisation plant Vulcan awarded €100m (A$162m) from the Federal Ministry of Econo
Slide 23: Recent Highlight: Mobilisation of Rig in March 2025
For personal use only RECENT HIGHLIGHT: MOBILISATION OF RIG IN MARCH 2025 FOR NEW PHASE ONE PRODUCTION WELLS 23 23 23
Slide 24: Phase+ Decarbonising the World's Largest Chemical Site
PHASE + DECARBONISING THE WORLD’S LARGEST CHEMICAL SITE1 A blueprint for Vulcan's future phase developments to support Europe's energy transition Phase One ++ downstream For personal use only Central Lithium Plant planned location Frankfurt 20km • Owner of lithium production • Future heat offtaker c
Slide 25: BASF Joint Project First Phase Already Completed
BASF JOINT PROJECT FIRST PHASE ALREADY COMPLETED Ludwigsland seismic surveys For personal use only 25 • 2D seismic survey concluded in March 2025 • 70 km of 2D seismic measured • Will assist with optimisation of 3D survey • Next steps will be planning and execution of new brine wells for geothermal
Slide 26: Product | Project | Technology
For personal use only PRODUCT | PROJECT | TECHNOLOGY
Slide 27: A New Wave of Lithium Is Building
A NEW WAVE OF LITHIUM IS BUILDING Defined by low cost, scalable, high-purity, and sustainable lithium production from brines using adsorption-type direct lithium extraction (A-DLE) technology As the lithium market matures into its next phase of growth, major global For personal use only Direct Lithi
Slide 28: High Performance Adsorption-Type Direct Lithium Extraction Technology
HIGH PERFORMANCE ADSORPTION-TYPE DIRECT LITHIUM EXTRACTION TECHNOLOGY WITH WESTERN SUPPLY CHAIN Superior extraction rate: > 95%. For personal use only High adsorption capacity: 3 g/l, porous structure of the extraction material enable high surface area and adsorption capacity Main inputs for operat
Slide 29: Well-Positioned Western A-DLE Supply Chain
WELL-POSITIONED WESTERN A-DLE SUPPLY CHAIN China dominates A-DLE technology; limited western options Global lithium projects that use, or plan to use, proprietary A-DLE technology Project Origin of Company Project A-DLE adsorbent provider location adsorbent For personal use only Rio Tinto Fénix / Ri
Slide 30: Well Engineering & Drilling Operations
WELL ENGINEERING & DRILLING OPERATIONS Tier One European Rig Contractor, Drilling, Well Engineering, Well Construction and Well Delivery for geothermal renewable energy projects For personal use only • VERCANA owns two electric drill rigs, ca. €60m Strategic invested by Vulcan to date asset for • St
Slide 31: Outlook
For personal use only OUTLOOK
Slide 32: Key Targets for 2025
KEY TARGETS FOR 2025 Focus on maintaining strong momentum Production of battery quality Lithium Hydroxide Monohydrate (LHM) at CLEOP For personal use only EU Strategic Project status Decision(s) on government funding approval processes Commencement of well execution Finalising project financing pack
Slide 33: Strong Policy Tailwinds
STRONG POLICY TAILWINDS European and German policy initiatives EU Battery Passport1 – adopted July 2023 For personal use only Critical Raw Materials Act (CRMA) 2– entered into force 23 May 2024 Net Zero Industry Act (NZIA) 3 – entered into force 29 June 2024 Strategic Project Status4 – awarded 26 Ma
Slide 34: Leveraging Policy: Vulcan & the Clean Industrial Deal
LEVERAGING POLICY: VULCAN & THE CLEAN INDUSTRIAL DEAL EU incentives for green leaders: funding and supply chain benefits For personal use only Clean Industrial Deal Potential relevance to Vulcan €100bn Green Industry Support – unlocking new financing opportunities to accelerate investment in sustain
Slide 35: Highly Experienced Leadership
HIGHLY EXPERIENCED LEADERSHIP Outstanding major project, technical and finance experience at the Executive and Board level Vulcan Executive Leadership For personal use only Dr Francis Wedin Cris Moreno Felicity Gooding Executive Chair, Founder Managing Director and CEO Executive Director and Group C
Slide 36: For personal use only
For personal use only @VulcanEnergyRes http://v-er.eu
Slide 37: Appendix 1: Disclaimer
APPENDIX 1: DISCLAIMER No investment or financial product advice. This Presentation, and the information provided in it, does not constitute, and is not intended to constitute, financial product or investment advice, or a recommendation to acquire Vulcan Shares, nor does it constitute, and is not in
Slide 38: Appendix 1: Disclaimer Cont.
APPENDIX 1: DISCLAIMER CONT. Ore Reserves and Mineral Resources Reporting. It is a requirement of the ASX Listing Rules that the reporting of ore reserves and mineral resources in Australia comply with the Joint Ore Reserves Committee's Australasian Code for Reporting of Mineral Resources and Ore Re
Slide 39: Appendix 2: LCA Assumptions
APPENDIX 2:LCA ASSUMPTIONS All foreground data for the ISO compliant Life Cycle Assessment (LCA) is sourced from Vulcan’s 2023 Bridging Engineering Study. The process design is assumed to be fully electrified. No fossil fuels are directly burned on site in the lithium production process. All backgro
Vulcan Energy Resources — Investor Presentation (April 2025) on 6ix