Leo Lithium (LLL) AGM 2025 Presentation summary

Progress and strategic execution

• Distributed Tranche 1 net proceeds and implemented a new strategy, including cost and headcount reductions.

• Approved and executed a 17.2 cent per share capital return to shareholders in January 2025.

• Completed opportunity screening and engaged with shortlisted counterparties for potential acquisitions.

Strategic focus and acquisition criteria

• Focus remains on acquiring lithium assets, targeting both hard rock and brine projects.

• Priority regions include WA, US, Canada, South America (lithium triangle), and Europe.

• All current opportunities are pre-FID, with a preference for majority ownership and operatorship.

• If no significant progress by Q3 2025, Tranche 2 funds will be returned to shareholders in H2 2025.

Strategy refinement and learnings

• Strategy updated based on learnings, with timing of Tranche 2 return dependent on acquisition outcomes.

• Multiple acquisition opportunities identified, including potential for a cornerstone asset and additional low-cost, high-potential assets.

• Some Tranche 2 proceeds may be returned even if acquisitions are completed.