Announcement PDF 2025 ANNUAL GENERAL MEETING 14 November 2025 ASX:CXO 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. The Finniss Lithium Project as described in this presentation as being in a state of operational readiness, and 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 The Mineral Resources and Ore Reserves underpinning the production target and forecast financial information in this announcement have been prepared by competent persons in accordance with the requirements of the JORC code. Core confirms that it is not aware of any new information or data that materially affects the exploration results, exploration target, mineral resource estimate and ore reserve estimate included in this announcement as cross referenced in the body of this announcement and that all technical parameters underpinning the Mineral Resources, Ore Reserves, production target and forecast financial information derived from the production target continue to apply and have not materially changed. The announcement references the previously reported Mineral Resource Estimates and Ore Reserve Estimates; “Finniss Mineral Resource Increased by 58%” on 11 April 2024, “Lithium Ore Reserve Updated” on 25 September 2024, “Updated Finniss Lithium Project Ore Reserve and Mineral Resources” on 14 May 2025, “Updated Ore Reserve at Carlton” on 10 September 2025 and “Updated Grants Mine Plan and Ore Reserve” on 10 November 2025. 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 announcements related to previously reported exploration results, exploration target, Mineral Resource Estimates and Ore Reserve Estimates. The previously reported Grants ORE of 1.2Mt @ 1.31% Li2O was comprised of Proved ORE of 0.9Mt @ 1.29% Li2O and Probable ORE of 0.3Mt @ 1.36% Li2O. 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. Production Target The Restart Study (“Study”) released 14 May 2025 includes a Production Target which contains approximately 12.9% of Inferred Mineral Resources. An Inferred Mineral Resource has a lower level of confidence than an Ore Reserve or a Measured and Indicated Mineral Resource, and there is no certainty that further exploration work will result in the conversion of the Inferred mineralisation into an Ore Reserve or Measured or Indicated Mineral Resource. Approved for Release This presentation has been approved for release by the Board of Core Lithium. 2 FINNISS LITHIUM PROJECT • Reserves located on Crown land with all major approvals in place • Modern DMS process plant with associated infrastructure in place • Current 16-year Ore Reserve within <10km of the process plant • Site is well maintained and restart ready • Funding process advancing towards a Final Investment Decision 3 Operations ready to restart 100% ownership of all site infrastructure and mining assets FINNISS LITHIUM PROJECT Indonesia China South Korea Japan Finniss Lithium Project 4 Middle East Favourably located to access infrastructure and key export growth markets Long life, low cost and expandable asset in a Tier 1 jurisdiction One of the closest lithium operations to an export port in Australia The Port of Darwin has sufficient capacity to support planned operations and future expansion Close to key export markets in Asia and the Middle East Producing a highly desirable, low impurity, coarse grained spodumene concentrate for decades to come Australia ` 88km Port Mine 5 PROVEN LOGISTICS • Access to low cost, established export infrastructure, 88km from the mine • No upgrades required to the existing infrastructure corridor connecting Finniss with the Port of Darwin • Sufficient capacity exists at the Port of Darwin to accommodate the planned concentrate export rate and expansion • Sealed road between Finniss and the port allow for haulage throughout the wet season • Well established water management and infrastructure at Finniss supporting future processing requirements Infrastructure in place for operations ACHIEVEMENTS IN 2025 Where we are today: Core has successfully repositioned Finniss as a wholly-owned, lower-cost and more sustainable lithium mining and processing operation The Company is funded to advance Finniss towards FID, advance operation readiness and support the ongoing strategic funding process. • Site remains in a fully compliant and restart ready state • Completed a Restart Study based on a new, lower cost operating plan • Updated the Finniss Ore Reserves to support a +15 year mine life • Strict capital discipline delivered a 73% drop in quarterly cash outflows, excluding one off payments1 • Completed a Placement and SPP to raise +$50 million • Strategic funding process advanced with strong engagement • Ended all remaining operating contracts with 100% ownership of all site infrastructure • Historical offtake agreements settled and all future production unencumbered Status 12 months ago: • Operations suspended due to the low lithium price • Legacy contract obligations from the operating period commitments • Forward operating plan designed for a higher lithium price environment and prioritised speed to market A genuine repositioning of Core and the Finniss asset has occurred during the past 12 months Restart Planning Contracts / Liabilities Costs & Funding 1. Reflects a decrease in quarterly cash flows over the period Q1 FY2025 to Q4 FY2025, excluding one off payments 0.00% 0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 1.40% 1.60% 0 200 400 600 800 1,000 1,200 1,400 1 2 3 4 5 6 7 8 9 10 19 20 Tonnes (kt) Year Grants BP33 Reserves BP33 Inferred Carlton Reserves Grade (%) MAY 2025 RESTART STUDY HIGHLIGHTS Refer to ASX announcement “Restart Study Repositions Finniss Operations“ on 14 May 2025. The Study contains approximately 12.9% of Inferred Mineral Resources. An Inferred Mineral Resource has a lower level of confidence than an Ore Reserve or a Measured and Indicated Mineral Resource and there is no certainty that further exploration work will result in the conversion of the Inferred mineralisation into an Ore Reserve or Measured or Indicated Mineral Resource. 20 year mine life Significant Cost Reductions1 • Mining costs down ~40% to $63 – $72/t • Processing costs down ~33% to $40 – $46/t • Unit operating costs: $690 – $785/t • Pre-production capital down ~29% to $175-$200M Increased Production Efficiency1 • Plant throughput increased to 1.2Mtpa • Plant optimisation to deliver global recoveries of 78% • Potential 20 year mine life with a nameplate production of ~205ktpa SC6 eq. Updated Ore Reserve Supports Production • Updated Ore Reserve2 of 15.6Mt @ 1.27% Li2O • With 16 years of operations Ore Reserve backed Moving to Majority Underground Mining1 • All deposits high-grade, continuous and steeply dipping • Underground mining provides quality ore feed to the plant • Extends mine life of Grants and provides access for Carlton 1. Refer to ASX announcement “Restart Study Repositions Finniss Operations“ on 14 May 2025 2. Refer to ASX announcements “Updated Finniss Lithium Project Reserve and Resource" on 14 May 2025, “Updated Ore Reserve at Carlton” on 10 September 2025 and “Updated Grants Mine Plan and Ore Reserve” on 10 November 2025 A low cost, long life, scalable operation capable of producing a high-quality spodumene concentrate 7 … MAY 2025 RESTART STUDY PRDUCTION PROFILE CONTINUING TO DRIVE IMPROVEMENT 8 Building on the May 2025 Restart Study outcomes with further testwork and optimisation The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource, and it is uncertain if further exploration will result in the estimation of a Mineral Resource. For details of the Blackbeard and BP33 Exploration Targets, refer to ASX announcement Updated Finniss Lithium Project Reserve and Resource dated 14 May 2025 and for details of the Carlton Exploration Target, refer to ASX announcement Updated Ore Reserve at Carlton dated 15 September 2025. Operational readiness activities • Additional technical work to improve cost confidence and contingency estimates to a DFS level • Detailed engineering to facilitate process plant upgrades • Building systems and capability to support operations • Mining contractor engagement EOI process for BP33 decline restart has commenced Current workstreams (pre-FID) • Grants geotechnical studies unlock a new open pit mine plan mining later transitioning to an underground development • Brings forward first ore from Grants within one month of mobilisation and reduces Grants pre-production capital • Delivers a 33% uplift in the Grants Ore Reserves to 1.53Mt @ 1.42% Li2O for 21kt Li2O1 for a 44% increase in contained metal • Restart Study estimates continue to be refined through project optimisation, engineering/design works and contractor engagement 1. Refer to ASX announcement “Updated Grants Mine Plan and Ore Reserve“ 10 November 2025 9 • Strong and supportive Northern Territory (NT) and Federal Government • Previous operating experience with proven track record of local community engagement and high environmental performance • Wet season water management infrastructure and systems established and operating well • Site is in full regulatory and environmental compliance • Restart Study deliveries significant local benefits: • Creation of +400 direct and indirect jobs in the NT • Attractive “drive in, drive out” roster opportunities • Upskilling and training opportunities • Partnering with NT businesses • Total royalties payable of over +A$400M over LOM SUSTAINABILITY A commitment to local employment and sustainability FOCUS ON COST CONTROL Instilling a culture of financial discipline during the operational pause which will continue into the restart 25,611 20,015 7,503 8,029 5,438 5,153 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Net operating costs (excluding one-off payments)1 1. Includes operating costs pertaining to production, care and maintenance, staff, administrative and corporate. These figures have been taken from the following ASX announcements “Quarterly Activities and Cashflow Report” on 17th July 2024, 24th October 2024, 23rd January 2025, 29th April 2025, 30th July 2025 and 13th October 2025 Successful implementation of cost- reduction measures Business streamlined and strategically primed for Finniss restart CAPITAL REQUIREMENTS AND FUNDING Funding gap closing with equity raising and further project optimisation May 2025 Restart Study Cost Estimates Total (A$M) BP33 Underground Infrastructure 110 – 120 Plant and Site Infrastructure Upgrade 25 – 30 Grants Underground Infrastructure 40 – 50 Total Pre-production Capital Cost 175 – 200 Refer to ASX announcement “Restart Study Repositions Finniss Operations“ on 14 May 2025. The range disclosed above is inclusive of contingency. 11 • Strategic funding process commenced in May 2025 following release of the Restart Study • Final investment decision subject to Board approval and securing a sufficiently attractive funding pathway • Strong engagement in the process to date from a range of high quality strategics and financial groups • Optimised mine plan for Grants reduces pre-production capital cost of Grants by $35 – $45 million • Project capital requirements are continuing to be refined as workstreams advance Grants BP33 0 50 100 150 200 25.0 Pre-production capital (A$M) Infrastructure Funding requirement (including contingency) based on May 2025 Restart Study Funding in place 1.0Mt 1.0Mt 1.2Mt 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Plant throughput Year POTENTIAL PRODUCTION UPSIDE 12 Potential to extend mine life, increase production and deliver economies of scale over time Pathway to upgrade the plant throughput in future beyond 1.2Mtpa Potential for mining at Carlton and Blackbeard to be brought forward and adding to mine plan Exploration will target resource extensions and new lithium discoveries Expansion Potential by bringing Carlton forward Extension Potential for BP33 Deeps and Blackbeard FINNISS LITHIUM PROJECT OPPORTUNITY1 An established low cost, long life operational restart opportunity, located 88km from the Port of Darwin 13 Lower cost, more efficient operations New mining and processing plan significantly reduces costs Rapidly advancing to FID Strategic financing process well advanced, along with long- lead items and operational readiness activities Existing infrastructure 100% owned by Core and unencumbered by third party offtake agreements Finniss is positioned to be Restart Ready Positive Restart Study being further optimised ahead of a future resumption of operations 1. Refer to ASX announcement “Restart Study Repositions Finniss Operations“ on 14 May 2025 CONTACT Core Lithium Ltd Level 4, 186 St Georges Terrace Perth, WA, 6000 info@corelithium.com.au Investor Enquiries Paul Brown CEO +61 8 8317 1700 Media Enquiries Michael Vaughan Fivemark Partners +61 422 602 720 Authorised for release by the Board of Core Lithium Ltd Mineral Resource Measured Indicated Inferred Total Tonnes (Mt) Li2O% Li2O Contained Metal (kt) Tonnes (Mt) Li2O% Li2O Contained Metal (kt) Tonnes (Mt) Li2O% Li2O Contained Metal (kt) Tonnes (Mt) Li2O% Li2O Contained Metal (kt) Grants 1.34 1.48 19.8 0.61 1.49 9.1 0.37 1.27 4.7 2.32 1.45 33.6 BP33 2.85 1.44 41.0 6.51 1.55 101 1.14 1.59 18.1 10.5 1.53 161 Carlton 2.14 1.33 28.5 3.43 1.32 45.3 0.78 1.14 8.9 6.34 1.3 82.6 Lees - - - 4.16 1.18 49.1 7.08 1.12 79.3 11.2 1.14 128 Ah Hoy - - - 1.71 1.2 20.5 2.93 1.38 40.4 4.64 1.31 60.8 Booths - - - 1.84 0.99 18.2 1.4 1.06 14.8 3.24 1.02 33 Penfolds - - - 0.65 1.25 8.1 0.71 1.24 8.8 1.36 1.24 16.9 Hang Gong - - - 1.51 1.18 17.8 1.95 1.14 22.2 3.46 1.16 40.1 Sandras - - - 1.17 0.92 10.8 0.57 0.82 4.7 1.73 0.89 15.4 Bilatos - - - - - - 1.92 1.03 19.8 1.92 1.03 19.8 Seadog - - - - - - 1.41 1.18 16.6 1.41 1.18 16.6 Total 6.33 1.41 89.3 21.6 1.3 282 20.3 1.18 239 48.2 1.26 608 TSF/Rejects - - - 0.31 0.66 2 - - - 0.31 0.66 2.0 Total 6.33 1.41 89.3 21.9 1.29 283 20.3 1.18 239 48.5 1.26 610 APPENDIX 1 – JORC MINERAL RESOURCE ESTIMATE Note: Totals within this table are subject to rounding. There was no cut-off applied to the TSF/Rejects material. Refer to ASX announcement “Finniss Mineral Resource Increased by 58%” on 11 April 2024 and “Updated Finniss Lithium Project Ore Reserve and Mineral Resource Estimate" on 14 May 2025. 15 APPENDIX 2 – JORC ORE RESERVE ESTIMATE Deposit Category Ore Tonnes (Mt) Li2O (%) Contained Li2O (kt) BP33 Underground Proved 2.6 1.27 32 Probable 6.7 1.32 89 Total 9.3 1.31 121 Grants Proved 1.2 1.43 17 Probable 0.3 1.41 5 Total 1.5 1.42 22 Carlton Proved 1.7 1.19 20 Probable 2.8 1.19 34 Total 4.5 1.19 53 TSF/Stockpiles Proved - - - Probable 0.3 0.68 2 Total 0.3 0.68 2 Total Proved 5.1 1.28 69 Probable 10.1 1.27 129 Total 15.6 1.27 198 Notes 1. Effective date of the Grants Ore Reserves is 30 October 2025. 2. Effective date of the Carlton Ore Reserves is 5 September 2025 (“Updated Ore Reserve at Carlton” released on 10 September 2025). 3. Effective date of the BP33 and TSF/Stockpiles Ore Reserves is 30 April 2025. (“Updated Finniss Lithium Project Reserve and Resource” released on 14 May 2025) 4. Ore Reserve Estimates are the total for the Grants, BP33, TSF/Stockpiles and Carlton Mines. 5. The long-term SC6 Spodumene price used for calculating the financial analysis is US$1,330/t. The financial analysis has been estimated with assumptions for crushing, processing and treatment charges, deductions and payment terms, concentrate transport, metallurgical recoveries, and royalties. 6. The breakeven cut-off Net Smelter Return (NSR) for underground mining at BP33 and Grants Underground is $110/t NSR and $125/t NSR for Carlton Underground. The cutoff grade used for estimating Ore Reserve Estimate at Grants Open pit was 0.8%. 7. Measured Mineral Resources were used to estimate Proved Ore Reserves; Indicated Mineral Resources were used to estimate Probable Ore Reserves. 8. Tonnage and grade estimates include dilution and recovery allowances. 9. The tonnage and grade for TSF/Stockpile is estimated from the operations reconciled historic monthly production records. 10. The Reserves are defined at the point where the ore is delivered to the processing plant. 11. The Ore Reserves reported above are not additive to the Mineral Resources. 12. Totals within this table are subject to rounding. 16 Refer to ASX announcement “Updated Grants Mine Plan and Ore Reserves” released on 10 November 2025.