Announcement PDF corelithium.com.au Preparing to Restart Investor Presentation Doug Warden, Interim CEO 6 May 2024 corelithium.com.au Important and cautionary notes This presentation has been prepared by Core Lithium Ltd (“Core”, “Company”) and provides a general overview of the Company and its strategy. This presentation does not purport to be all-inclusive or to contain all the information that you or any other party may require to evaluate the prospects of the Company. None of the Company, any of its related bodies corporate or any of their representatives assume any responsibility for, or makes any representation or warranty, express or implied, with respect to the accuracy, reliability or completeness of the information contained in this presentation and none of those parties have or assume any obligation to provide any additional information or to update this presentation. The information in this presentation should be read in conjunction with Core’s other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange (ASX), which are available at www.asx.com.au. To the fullest extent permitted by law, the Company, its respective affiliates and representatives, related bodies corporate, officers, employees, partners, agents and advisers make no representation or warranty (express or implied) as to the currency, accuracy, reliability, reasonableness or completeness of the information in this presentation and expressly disclaims all responsibility and liability for any loss or damage arising in respect of your reliance on the information contained in this presentation (including your reliance on the accuracy, completeness or reliability of that information), or any errors in or omissions from this presentation, including any liability arising from negligence. Potential investors should understand that mineral exploration, development and mining are high-risk undertakings. There is no guarantee that the Finniss Lithium Project can be economically exploited in the future. This document contains statements which may be in the nature of forward-looking statements. No representation or warranty is given, and nothing in this presentation or any other information made available by the Company or any other party should be relied upon as a promise or representation, as to the future condition of the respective businesses and operations of the Company. Competent Person Statements Core confirms that it is not aware of any new information or data that materially affects the information included in previous announcements (as may be cross referenced in the body of this announcement) and that all material assumptions and technical parameters underpinning the Mineral Resource estimates, Ore Reserve estimates, production targets and forecast financial information continue to apply and have not materially changed. This release contains “forward-looking information” that is based on the Company’s expectations, estimates and projections as of the date on which the statements were made. This forward-looking information includes, among other things, statements with respect to feasibility studies, the Company’s business strategy, plan, development, objectives, performance, outlook, growth, cash flow, projections, targets and expectations, and Mineral Resources and Reserves. Currency Unless otherwise stated, all cashflows are in Australian dollars, are undiscounted and are in real terms (not subject to inflation/escalation factors). Forward‐looking Statements Generally, this forward-looking information can be identified by the use of forward-looking terminology such as ‘outlook’, ‘anticipate’, ‘project’, ‘target’, ‘likely’,’ believe’, ’estimate’, ‘expect’, ’intend’, ’may’, ’would’, ’could’, ’should’, ’scheduled’, ’will’, ’plan’, ’forecast’, ’evolve’ and similar expressions. Persons reading this release are cautioned that such statements are only predictions, and that the Company’s actual future results or performance may be materially different. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to general business, economic, competitive, political and social uncertainties; the actual results of current exploration, development and construction activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of lithium; possible variations of ore grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accident, labour disputes and other risks of the mining industry; and delays in obtaining governmental approvals or financing or in the completion of development or construction activities. This list is not exhaustive of the factors that may affect forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking information. The Company disclaims any intent or obligations to or revise any forward-looking statements whether as a result of new information, estimates, or options, future events or results or otherwise, unless required to do so by law. Statements regarding plans with respect to the Company’s mineral properties may contain forward-looking statements in relation to future matters that can be only made where the Company has a reasonable basis for making those statements. Past Performance Past performance information given in this presentation is given for illustrative purposes only and should not be relied upon as (and is not) an indication of future performance. 2 corelithium.com.au Corporate Overview CAPITAL STRUCTURE Greg English Non-Executive Chair BEng (Hons), LLB Heath Hellewell Non-Executive Director BSc (Hons) MAIG Cash as at 31 March 2024 A$0.14/Share Nil Share Price – 3 May 2024 Debt - 31 March 2024 2,137M Shares ASX: CXO ASX300 INDEX Shares on Issue – 3 May 20241 A$305m Mkt Cap Undiluted Market Capitalisation – 3 May 2024 Malcolm McComas Non-Executive Director Bec, LLB, SF Fin, FAICD A$80.4m BROKER COVERAGE Jarek Kopias Company Secretary Bcom, CPA, AGIA, AGS (CS, CGP) NOTES 1. Plus 6,603,943 unquoted performance rights 3 corelithium.com.au Sustainability Environment Social Governance ✓ Improved water management infrastructure and operability ✓ Engagement with local traditional owners to care for country including land management practices – weed, fire and rehabilitation ✓ ✓ ✓ ✓ ✓ Strong demonstration of safety performance Implementation of Critical control verification Release of the community grants program Visible and engaged participant in community Demonstrated care for people throughout organisational restructure ✓ Material unwanted events risk management ✓ Evolution of systems and processes that underpin material risk ✓ Understanding of regulatory process, legislative reform and approvals pathways 4 Q2 FY24 Quarterly Update corelithium.com.au FY2024 Interim Highlights Sustainability Operations Sales & Marketing Exploration & Development Corporate & Financial 29% increase in lithium recoveries to: Spodumene concentrate shipped 58% increase in Mineral Resource to: Cash balance of 2 Recordable injuries $80.4m sustained FY24 YTD 31 March 2024 63% Q3 FY24 Spodumene concentrate production 74,456t YTD 31/3/24 64,341t YTD 31/3/24 48Mt @ 1.26% Li2O1 $12.3m capital spend Average realised price US$1,402/t YTD 31/3/24 BP33 Feasibility study being independently reviewed Lithium fines shipped Concentrate grade 4.8% YTD 31/3/24 and no debt at 31 March 2024 46,298t YTD 31/3/24 BP33 Measured and Indicated Resource upgraded to Cost and capital guidance lowered, reflecting suspension of mining and cost reduction programs on water infrastructure upgrades completed in time for record wet season management. 8 community grants awarded to community groups across greater Darwin region 89% Cash operating unit cost: of total resource2 $1,564/t YTD 31/3/24 1. 2. Refer ASX announcement “Finniss Mineral Resource increased by 58%” released on 11 April 2024. Refer “BP33 Mineral Resource upgraded to 89% Measured and Indicated” 16 October 2023. The BP33 Mineral Resource announced on 16 October 2023 is comprised of Measured Resource 2.85Mt @ 1.44% Li2O, Indicated Resource 6.51Mt @ 1.55% Li2O and Inferred Resource 1.14Mt @ 1.59% Li2O. Total BP33 Mineral Resource of 10.50Mt @ 1.53% Li2O. 5 corelithium.com.au Strategic Review of Operations 85% fall in lithium price resulted in a suspension of mining in January 2024 Finniss Operations • Core moved quickly in 2021/22 to successfully get Grants into production in a rising lithium market • Unprecedented fall in the lithium price led to a strategic review and subsequent suspension of mining in January 2024 • Concentrate production from stockpiles expected to June 2024 with recoveries continuing to improve (up to 63% in Q3 FY24) • Wide divergence in forecast spodumene price highlights volatility and uncertainty in the emerging industry • Core well positioned to take advantage of the next cycle with a restart of Grants and BP33 FID BP33 Development & Exploration • BP33 early works program suspended due to market conditions • Independent review of the BP33 feasibility study being completed as part of the FY24 update of the Ore Reserves • 2024/25 exploration campaign is targeting both larger standalone deposits, as well as clusters of deposits that have the potential to be mined with shared infrastructure Sources: SC6% Price: Fastmarkets Broker Forecast: UBS March 2024 commodity consensus forecast 6 corelithium.com.au Core’s Strategy Prepare to re-start operations and targeted exploration Re-commence Operations Lithium Exploration Strategy Non-Lithium Exploration Strategy Objective Restart Grants and prepare BP33 for FID Targeting large scale deposits Increase Napperby uranium resource Progress early-stage gold prospects FY25 Grants: • Site maintained to enable rapid re-start • Finalise mine plan and contracting strategy for Grants re-start (lithium price dependent) BP33: • Complete independent review of feasibility study and update Ore Reserves • Continue funding discussions with potential strategic partners • Finniss: Test 6 key targets • Shoobridge: Drill test Geochem anomalies • Anningie/Barrow Creek: soil sampling, field mapping, geophysical surveys and scout drilling Dependent on commodity prices: • Restart Grants • BP33 FID Build the Core exploration and development project pipeline through: • Targeted M&A • New exploration ‘search spaces’ 1-3 Years Drill out uranium resource at: • Napperby Test for economic gold resources: • Finniss Au • Shoobridge Au Progress early-stage base metal prospects Realise value from non-lithium portfolio 7 corelithium.com.au Projects Overview A diverse portfolio of Australian opportunities High Priority FY25 Targets Finniss Lithium: • Consists of Grants (mining operation), BP33 (under development), and several prospects that make up a total Mineral Resource of 48.2Mt @ 1.26% Li2O. • Over half of the FY25 exploration spend is planned in the Finniss region Shoobridge: • Core will be the first company to explore and drill these prospective, potentially lithium-rich pegmatite systems Anningie & Barrow Creek: • Eight exploration licences over ~2,800km2 of tin-tantalum pegmatite fields • Yet to be drill tested and are considered highly prospective for lithium Napperby: • Advanced uranium project with Mineral Resource of 9.5Mt @ 382ppm U3O81 Finniss Gold: • New, large targets identified through soil geochemistry, showing similarities with historical Pine Creek Orogen gold mines 1. Refer ASX announcement “Napperby Uranium Resource Update and Increase” released on 12 October 2018. 8 corelithium.com.au Finniss Project 48Mt Mineral Resources Strong track record of growing the Resource base Core's Mineral Resources & Cumulative Exploration Expenditure Mt 50 $m 40 80 30 60 20 40 10 20 100 0 0 2017 2018 2019 2020 Mineral Resource 2021 2022 2023 2024 Exploration expenditure (cumulative) Mineral Resource Estimate for the Finniss Lithium Project1 0.5% Li2O cut-off Li2O Contained Resource Category Tonnes (Mt) Li2O % Metal (kt) Measured 6.33 1.41 89.3 Indicated 21.6 1.30 280 Inferred 20.3 1.18 239 Total 1. Refer ASX announcement “Finniss Mineral Resource increased by 58%” released on 11 April 2024. 48.2 1.26 608 9 corelithium.com.au Finniss Project Significant infrastructure in place and well positioned when Li market recovers Grants Operation (Mineral Resource 2.32Mt @ 1.45% Li2O) ¹ BP33 Project (Mineral Resource 10.5Mt @ 1.53% Li2O) ² • Crushing and DMS processing facility transitioning into care and maintenance • Feasibility Study progressed in preparation for a final investment decision when market pricing improves • Site footprint cleared with access and onsite roads in place • Water storage excavations complete, including SED basins, mine water dam and operations storage • Boxcut excavation completed to 33m (40m final design depth) • Independent review of Feasibility underway for Ore Reserves update in mid 2024 • Onsite non-process infrastructure includes water storage, administration facilities • Review of mining and processing plans underway to inform Ore Reserves update in the second half of CY2024 1. Refer ASX announcement “Finniss Mineral Resource Increased by 58%” released on 11 April 2024. Grants Total Ore Reserves (Open Pit & Underground) as at 30 June 2023 - 2.3Mt @ 1.4% Li2O comprised of 1.7Mt @ 1.5% Li2O Proved Reserve and 0.5Mt @ 1.5% Li2O Probable Reserve (refer ASX announcement “Core Lithium 2023 Annual Report to Shareholders” released on 29 Sept 2023). 2. Refer ASX announcement “BP33 Mineral Resource Upgrade” released on 16 October 2023. BP33 Ore Reserves as at 30 June 2023 – 3.9Mt @ 1.4% Li2O comprised of 1.7Mt @ 1.4% Li2O Proved Reserve and 2.2Mt @ 1.4% Li2O Probable Reserve (refer ASX announcement “Core Lithium 2023 Annual Report to Shareholders” released on 29 Sept 2023). 10 corelithium.com.au FY25 Exploration Program (~$8m total) Prospects Finniss Shoobridge Commodity Targeted Outcome 24/25 Activities • Ah Hoy (Seadog, Flooded, Kelly’s Extension, Rocky Ridge) • Bilatos Trend (Talmina 9W, Saffums 5) • Blackbeard • Finniss Range • Zola East • Lees Cluster • Finniss Regional • Jedidiah (Au) • Epiphany (Au) • Identify large new Li deposits • Test ANT anomalies • Investigate results of 2023 gold soils program • Mapping and infill soils to target drilling • Stakeholder engagement and regulatory approvals • RC, RAB and DD drilling • Barretts Trend • Shoobridge Regional • Identify new deposits in area not yet explored for lithium • Test anomalies generated by geochem and geophysical programs • Stakeholder engagement and regulatory approvals • Mapping and infill soils to target drilling • RC drilling Anningie Barrow Creek • Bismark • Ringing Rocks • ABC Regional • Identify new deposits in area not yet explored for lithium • Test anomalies generated by geochem and geophysical programs Napperby • Napperby • Expand resource size • Stakeholder engagement and regulatory approvals • Geophysics, mapping and infill soils to target drilling • RC Drilling • Stakeholder engagement and regulatory approvals • Aircore drilling & wireline logging 11 corelithium.com.au Finniss Exploration Darwin 30km • Geophysical and Geochemical surveys conducted over the 2023 season have identified five priority lithium targets and one priority gold target in the Finniss project area with the potential to result in the discovery of large-scale deposits or pegmatite clusters. • Three of the lithium targets have reverse circulation (RC) drilling and diamond drilling (DD) planned while the other two have rotary air blast (RAB) drilling and RC drilling planned for FY25. • Scout RC drilling in conjunction with surface geological mapping are planned for the gold target. • FY25 plan: ‒ test these targets through drilling a total of 12,000 - 15,000m ‒ complete regional mapping ‒ infill soil sampling and environmental surveys to confirm future drill targets ‒ apply for government co-funded drilling initiative ⚫ Existing operation / project site ⚫ FY25 exploration target 12 corelithium.com.au Shoobridge Exploration Lithium (ppm) in Soils - Barretts • New ‘search space’ - never explored for lithium • Opportunity for discovery in a new mineral field • Historical Sn-Ta workings • Multiple pegmatites on NNW trend • 160km to existing processing facility • Geochemical surveys have identified potential for lithium and gold deposits1 • FY25 plan: ‒ Continue soil sampling ‒ RC drilling to test the fertility and size potential of geochemical anomalies 1. Refer ASX announcement “Core delivers excellent exploration results” released on 22 March 2024. Gold (ppb) in Soils - Barretts 13 corelithium.com.au Anningie - Barrow Creek Exploration • New ‘search space’ - never explored for lithium • Large exploration footprint (2,804km2 vs Finniss 575km2) • Demonstrated presence of spodumene at surface at Bismark • Pegmatite fields with numerous historic Sn-Ta workings • Rock and soil sampling indicate a larger footprint than defined by the historic workings • Extensive fertile granite source • Close to road, rail and gas connection • FY25 plan: ‒ soil sampling ‒ field mapping ‒ geophysical surveys ‒ scout drilling ‒ apply for GDC government co-funding 14 corelithium.com.au Napperby Uranium Exploration 8Mlb JORC Resource in highly prospective region • JORC (2012) Inferred Mineral Resource of 9.54Mt @ 382ppm U308 for 8.0Mlb1, all near surface • 120km NW of Alice Springs • 714km2 tenement is prospective and largely unexplored – amenable to inexpensive shallow drilling • FY25 plan: ‒ test extensions of the orebody along strike with shallow aircore (AC) drilling and wireline logging 1. Refer ASX announcement “Napperby Uranium Resource Update and Increase” released on 12 October 2018 15 corelithium.com.au Gold Exploration • Core has focussed on lithium exploration on its Finniss tenements, however, the Pine Creek Orogen is also well known for its gold prospectivity (>4Moz produced1) • Core has established a strong portfolio of prospective ground in the Pine Creek Orogen at its Finniss, Adelaide River and Shoobridge Projects • Very positive geochemical gold anomalies discovered during the 2023 field season2, warranting further investigation • Targets share similarities to deposits such as Mount Todd (16.4Moz3) and Union Reefs (2.43 Moz4) • Proximal to Cullen suite granites – intrusion related affinities are a good sign for the larger deposits in the Pine Creek region • FY25 plan: field mapping and scout drilling to test the newly identified geochemical anomalies 1. Resourcing The Territory https://resourcingtheterritory.nt.gov.au/minerals/mineral-commodities/gold 2. Refer ASX announcement “Core delivers excellent exploration results” released on 22 March 2024. 3. Vista Gold ASX announcement 31/12/2021 4. Sener 2004, Characteristics, Distribution and Timing Of Gold Mineralisation in the Pine Creek Orogen, NT Australia (PhD Thesis) 16 corelithium.com.au Thank you Core Lithium Ltd Level 9, 2 Mill Street Perth, WA, 6000 For further information please contact James Virgo Interim CFO +61 8 8317 1700 info@corelithium.com.au Authorised for release by the Board of Core Lithium Ltd