Elevra Lithium Limited · ASX:ELV

Elevra Lithium — Investor Presentation (November 2026)

26 slides from Elevra Lithium's investor presentation, Nov 6, 2026

  1. Slide 1: Elevra Lithium: Providing a Secure and Reliable Supply of Lithium in North America

    rsonal use only Elevra Lithium Providing a Secure and Reliable Supply of Lithium in North America N O V E M B E R 2026 ASX:ELV • NASDAQ:ELVR

  2. Slide 2: Introducing Elevra Lithium: Investment Highlights

    Introducing Elevra Lithium Investment Highlights: ASX: ELV | NASDAQ: ELVR North America’s Leading Hard-Rock Lithium Producer #1 North American hard rock pure-play lithium producer Scale Combined lithium Ore Reserve Estimate of 76Mt @ 1.19% Li2O and M&I&I Mineral Resource estimate totalling 166Mt rso

  3. Slide 3: North America's Leading Lithium Producer

    North America’s Leading Lithium Producer Li-FT Power rsonal use only A leading hard rock resource base in North America Attributable M+I+I Mineral Resource Estimate, Mt 1 295 Measured and Indicated Inferred 166 Largest Measured and Indicated resource base 148 128 91 93Mt @ 1.15% Li2O 89 51 33 15 15

  4. Slide 4: Lithium Market

    rsonal use only Lithium Market

  5. Slide 5: Near-Term Lithium Market Weakness

    Near-Term Lithium Market Weakness Declines in Chinese lithium carbonate futures have pulled prices lower contrary to falling inventories rsonal use only Lithium price weakness appears Spodumene Concentrate 6% Price GFEX Lithium Carbonate Futures driven by sentiment US$/t, CIF China January 2027 Lith

  6. Slide 6: Supportive Demand Outlook into 2030

    Supportive Demand Outlook into 2030 Demand growth presents opportunity for development projects rsonal use only Medium-term demand outlook Broker Outlook Global Lithium Demand remains strong Spodumene Concentrate 6% Price, US$/t Mt LCE $2,400 4.0 • Lithium demand is forecast to approximately double

  7. Slide 7: Corporate strategy and commercial

    Corporate rsonal use only strategy and commercial

  8. Slide 8: The Elevra Strategy

    The Elevra Strategy Disciplined delivery remains central to our strategy rsonal use only 01 02 03 Optimise Existing Operations Develop Assets Following Integrate into the Supply Chain Expanded Resource Base Via Strategic Partnerships Focused on optimising production sustainably Deliver portfolio pot

  9. Slide 9: Portfolio Optimisation

    Portfolio Optimisation Divesting non-core assets to concentrate on North American development rsonal use only US$71m A$16m 4 Ewoyaa sale completed1 Tabba Tabba tenement sold2 WA projects proposed for the Morella Lithium JV3 Outcome Consideration from Wildcat Proposed terms (non-binding) • Sold all r

  10. Slide 10: Commercial Strategy

    Commercial Strategy Targeting a diversified, market-linked and flexible sales portfolio as NAL volumes expand rsonal use only 01 Strategic Offtake Partnerships 02 Market-Based Framework Pricing 03 Commercial Flexibility • Targeting 2-3 core offtake customers • Spot-linked pricing using recognised •

  11. Slide 11: Experienced and Diverse Board and Management

    Experienced and Diverse Board and Management Board of Directors (reducing to six at AGM) Management Team rsonal use only Dawne Hickton Lucas Dow Chair Managing Director & CEO Lucas Dow Christian Cortes Sylvain Collard Managing Director & Chief Financial President Canada & CEO Officer Group COO James

  12. Slide 12: Operations & Growth Projects

    Operations & rsonal use only Growth Projects

  13. Slide 13: NAL Operational Performance

    NAL Operational Performance Record mining and milling performance and strong utilisation delivered a 14% reduction in unit operating cost sold rsonal use only Record throughput and strong NAL Global Recovery & Mill Utilisation Concentrate Produced & Unit Cost Sold production drive reduced unit 100%

  14. Slide 14: Growth Projects

    Growth Projects A unique North American investment opportunity with a cornerstone operating asset and strategic growth projects rsonal use only NAL Expansion Moblan Carolina (100%) (60%) (100%) Leading North American open pit mining High-grade, long-life project located close to Fully-integrated, st

  15. Slide 15: NAL Expansion Transforms Elevra into a Larger, Lower Cost Producer

    NAL Expansion Transforms Elevra into a Larger, Lower Cost Producer Expanded output and lower unit costs create a pathway to improved cash flow generation Average Annual NAL Production Capacity Long-term value creation rsonal use only Strengthens NAL’s position as a Average LOM SC5.4 (post expansion)

  16. Slide 16: Targeted Debottlenecking Unlocks Significant Production Growth at NAL

    Targeted Debottlenecking Unlocks Significant Production Growth at NAL Staged NAL Expansion progressively increases production and lowers unit costs1 Debottlenecking steps Capital cost2 Uplift rsonal use only • Optimise the existing 4,500tpd circuit through targeted upgrades to milling, desliming, St

  17. Slide 17: Parallel Execution Accelerates NAL's Path to Full Production

    Parallel Execution Accelerates NAL’s Path to Full Production Engineering, capital deployment and construction are staged to accelerate delivery1 Stage 1 Stage 2 Stage 3 rsonal use only Permitting advances in parallel with project execution: Permitting • Stage 1: Operations within existing 4,500tpd m

  18. Slide 18: Moblan

    Moblan Mineral Resource and Ore Reserve growth creates opportunity to evaluate increased annual production Growing resource base creates 2024 Definitive Feasibility Study1 Moblan Mineral Resources and Ore Reserves1,2 rsonal use only an opportunity to unlock greater Key Outcomes Measured Indicated In

  19. Slide 19: Moblan

    Moblan Well positioned to become Canada’s next spodumene producer with a funded pathway to FID rsonal use only Moblan development pathway1 Moblan Shaakichiuwaanaan2 Whabouchi3 Galaxy3 (Elevra 60% / IQ 40%) (PMET Resources) (Rio Tinto 54% / IQ 46%) (Rio Tinto) As part of the May 2026 Strategic Financ

  20. Slide 20: Guidance

    rsonal use only Guidance

  21. Slide 21: FY27 Guidance

    FY27 Guidance rsonal use only Q1 FY27 Actual 1 FY27 Guidance 2 Additional Information Spodumene 198,000 – 210,000 • SC 5.2% product grade Concentrate 54,907 dmt dmt • 100% NAL production Production Spodumene 200,000 – 230,000 • SC 5.2% product grade Concentrate 58,134 dmt dmt • Volumes modestly fron

  22. Slide 22: Appendix

    rsonal use only Appendix

  23. Slide 23: Supporting Data: Combined Lithium Ore Reserve Totaling 76Mt

    Supporting Data Combined Lithium Ore Reserve Totaling 76Mt1,2 rsonal use only Asset Source (ASX release) Reserve Category Tonnes (Mt) Li2O Grade (%) Cut-off Grade (%Li2O) Proved Ore Reserves 0.2 0.93 0.60 Elevra Lithium 2026 Annual Report North American Lithium 28 August 2026 Probable Ore Reserves 4

  24. Slide 24: Supporting Data (continued): Leading Hard Rock Resource Base

    Supporting Data (continued) A Leading Hard Rock Resource Base in North America Totalling 166Mt1 Measured Measured Indicated Indicated Total M+I M+I M+I Inclusive Inferred Inferred Asset Company Location Status Code Source Date (Mt) (% Li2O) (Mt) (%Li2O) (Mt) (%Li2O) of Reserves (Mt) (%Li2O) North Am

  25. Slide 25: Supporting Data: Uplift in Pricing with Strong Demand Outlook into 2030

    Supporting Data Uplift in Pricing with Strong Demand Outlook into 2030 rsonal use only Spodumene Concentrate Est. Global Lithium Demand Est. 2026 2027 2028 2029 2030 2026 2027 2028 2029 2030 6% Price (US$/t) Date (kt LCE) Date Broker 1 Oct-26 2,012 2,043 2,048 1,785 1,680 Broker 1 Oct-26 2,108 2,324

  26. Slide 26: rsonal use only

    ELEVRA © Ajuo asn yeuosie

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