Liontown Resources : Investor Presentation - Diggers and Dealers Mining Forum

Fast charging towards a low carbon future

Diggers and Dealers Mining Forum

ASX:LTR

August 2022

Important Information

Cautionary Statement

The production targets and forecast financial information referred to in the Definitive Feasibility Study (DFS) and Downstream Scoping Study (DSS) were based on Proven Ore Reserves (3.4%), Probable Ore Reserves (79.4%) and Inferred Mineral Resources (17.2%). The Inferred material included in the inventory was 14.3Mt

• 1.1% Li2O & 120 ppm Ta2O5. The Inferred material was scheduled such that less than 10% of the Inferred material is mined in the first ten years, with the remainder mined through to the end of the mine life.

The Inferred material does not have a material effect on the technical and economic viability of the project.

There is a low level of geological confidence associated with inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of indicated Mineral Resources or that the production target itself will be realised.

Forward looking statements

This Presentation contains forward-looking statements which are identified by words such as 'may', 'could', 'believes', 'estimates', 'targets', 'expects', or 'intends' and other similar words that involve risks and uncertainties. These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions regarding future events and actions that, as at the date of this Presentation, are considered reasonable. Such forward-looking statements are not a guarantee of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, the Directors and the management. The Directors cannot and do not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this Presentation will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements. The Directors have no intention to update or revise forward-looking statements, or to publish prospective financial information in the future, regardless of whether new information, future events or any other factors affect the information contained in this Presentation, except where required by law or the ASX listing rules.

Disclaimer

Whilst care has been exercised in preparing and presenting this presentation, to the maximum extent permitted by law, Liontown Resources Limited and its representatives:

• Make no representation, warranty or undertaking, express or implied, as to the adequacy, accuracy, completeness or reasonableness of this Presentation;
• Accept no responsibility or liability as to the adequacy, accuracy, completeness or reasonableness of this Presentation; and
• Accept no responsibility for any errors or omissions from this Presentation.

Competent person statement

The Information in this Presentation that relates to Exploration Results and Mineral Resources for the Kathleen Valley Project is extracted from the ASX announcement "Strong progress with Kathleen Valley Definitive Feasibility Study as ongoing work identifies further key project enhancements" released on 8 April 2021 which is available on www.ltresources.com.au.

The Information in this Presentation that relates to metallurgical testwork and process design, Ore Reserves, Production Target and DFS for the Kathleen Valley Project is extracted from the ASX announcement "Kathleen Valley DFS confirms Tier-1 global lithium project with outstanding economics and sector-leading sustainability credentials" released on 11 November 2021 which is available on www.ltresources.com.au.

The Information in this Presentation that relates to the DSS for the Kathleen Valley Project is extracted from the ASX announcement "Updated Downstream Scoping Study Highlights Next Growth Horizon for Kathleen Valley Project" released on 11 November 2021 which is available on www.ltresources.com.au.

The Information in this Presentation that relates to Mineral Resources for the Buldania Project is extracted from the ASX announcement "Liontown announces maiden Mineral Resource Estimate for its 100%-owned Buldania Lithium Project, WA" released on the 8 November 2019 which is available on www.ltresources.com.au.

As detailed in the ASX announcement "Liontown Board approves development of Kathleen Valley Lithium Project" released on 29 June 2022, as part of the Final Investment Decision, the capital expenditure budget for the Kathleen Valley Project was increased to $545 million. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and the updated capital expenditure budget referenced in the announcement dated 29 June 2022 and that all material assumptions and technical parameters underpinning the estimates or production targets or forecast financial information derived from a production target (as applicable) in the relevant market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcements.

Authorisation

This Presentation has been authorised for release by the Managing Director.

AUGUST 2022 | 2

Agenda

01.	02.		03.	04.
Establishing a Tier-1	Corporate Strategy		Lithium Market	Kathleen Valley
Project					Update	Funding Strategy
05.	06.		07.	08.
Project Execution	Downstream Strategy	Investment		Questions
and Timetable				Proposition

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Foundations Established for a Tier-1 Project

Liontown is focused on the development of the world-class Kathleen Valley Lithium Project

Tier-1 Offtakes Secured

• Offtakes secured for majority of production over first 5-years
• Tier-1counterparties including Tesla, LG Energy Solution and Ford
• Significant upside exposure via pricing formulas, negotiated in a strong lithium market

Construction Underway

• Experienced team built (with new hires expected) to drive project delivery
• Leading engineering firm, Lycopodium appointed to complete EPCM and commissioning services
• 57 of a total 94 vendor packages either awarded or under evaluation

Attractive Financing In Place

• Low-costfinancing
• Creditworthy and strategically aligned customer financing
• Kathleen Valley funded to first production
• Additional funding capacity available to manage project through to delivery

World Class Project

• World-classlithium deposit with significant 156Mt @ 1.4% Li2O resource driving long-life
• Outstanding economic potential, especially at current prices
• Located in a well-established mining jurisdiction, reducing development risk and accelerating timetable

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Liontown's Strategy

We aim to be an ESG-leader, and a globally significant provider of battery minerals for the rapidly growing clean energy market

Kathleen Valley

Full Potential

Become a globally significant supplier of spodumene

Downstream

Expansion

Develop integrated operations to capture higher margins

Liontown

Full Potential

Expand portfolio through organic growth, value accretive M&A and exposure to the circular economy

AUGUST 2022 | 5