Corporate Presentation
Released
Released
Announcement PDF
ASX RELEASE
ASX: LIT
25 MARCH 2026
Unit 1, 79-83 High Street investorhub.liviumcorp.com T: +61 (0) 3 7017 2656
Kew, Victoria 3101 liviumcorp.com E: info@liviumcorp.com Page 1 of 1
Livium Ltd | ACN: 126 129 413
Corporate Presentation
Engage with this announcement at: InvestorHub
Livium Ltd (ASX: LIT) (“Livium” or the “Company”) advises that it has released an updated Corporate Presentation.
CEO and Managing Director Simon Linge will be presenting at the ASX SMIDcaps Conference on 25 March 2026.
A copy of the Corporate Presentation which will be used at the conference is attached to this announcement and can be
viewed on the Company’s website. No new information is disclosed in the presentation.
Authorised for release by the CEO and Managing Director.
Simon Linge
Managing Director / CEO
Mobile +61 (0) 438 721 280
simon.linge@liviumcorp.com
Stuart Tarrant
Chief Financial Officer
Mobile +61 (0) 467 817 005
stuart.tarrant@liviumcorp.com
About Livium
Livium Ltd (ASX: LIT) is Australia’s leading battery recycler through its wholly owned subsidiary Envirostream — a
profitable business focused on the recovery of valuable materials from end-of-life batteries.
Building on this foundation, Livium is expanding into adjacent opportunities including recycling of rare earth elements and
solar panels, and the processing of black mass — strengthening Australia’s clean-energy supply chain.
The Company also holds a portfolio of complementary technologies, including LieNA®, a patented lithium extraction
process in joint venture with Mineral Resources Ltd (ASX: MIN), and VSPC, a developer of next-generation lithium ferro
phosphate (LFP) cathode materials — the leading global battery chemistry.
Forward-looking statements
This announcement contains forward-looking statements. Forward-looking statements are subject to a variety of risks
and uncertainties that it is beyond the Company’s ability to control or predict and which could cause actual events or
results to differ materially from those anticipated in such forward-looking statements. Investors should be aware that past
performance should not be relied upon as being indicative of future performance.
Livium Ltd securities are listed on Australian Securities Exchange (ASX Codes: LIT, LITOC)
ASX : LIT
Energising a
better world
Investor Presentation
March 2026
2
Disclaimer
ASX: LIT | March 2026 | investorhub.liviumcorp.com | www.liviumcorp.com
This presentation is for information purposes only. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase
or sale of shares in any jurisdiction. This presentation may not be distributed in any jurisdiction except in accordance with the legal requirements applicable in that jurisdiction. Recipients should
inform themselves of the restrictions that apply in their own jurisdiction. A failure to do so may result in a violation of securities laws in that jurisdiction. This presentation does not constitute financial
product advice and has been prepared without taking into account the recipients’ investment objectives, financial circumstances or particular needs, and the opinions and recommendations in this
presentation are not intended to represent recommendations to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities
transactions involve risks, which include, among others, the risk of adverse or unanticipated market, financial or political developments. Certain statements contained in this presentation, including
information as to the future financial or operating performance of Livium Ltd (ABN 29 126 129 413) (‘the Company’) and its business and operations, are forward-looking statements.
Such forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant technical,
business, economic, competitive, political and social uncertainties and contingencies, involve known and unknown risks and uncertainties that could cause actual events or results to differ materially
from estimated or anticipated events or results reflected in such forward-looking statements, and may include, among other things, statements regarding targets, estimates and assumptions in
respect of commodity prices, operating costs and results and capital expenditures, or may be, based on assumptions and estimates related to future technical, economic, market, political, social and
other conditions. The Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise. The
words ‘believe’, ‘expect’, ‘anticipate’, ‘indicate’, ‘contemplate’, ‘target’, ‘plan’, ‘intends’, ‘continue’, ‘budget’, ‘estimate’, ‘may’, ‘will’, ‘schedule’ and other, similar expressions identify forward-looking
statements.
All forward-looking statements in this presentation are qualified by the foregoing cautionary statements. Investors are cautioned that forward-looking statements are not guarantees of future
performance and, accordingly, investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. Many known and unknown factors could cause
actual events or results to differ materially from estimated or anticipated events or results reflected in such forward-looking statements. Such factors include but are not limited to: competition; ability
to meet additional funding requirements; commercialisation risks; development and operating risks; uninsurable risks; risks associated with intellectual property; environmental regulation, permitting
and liability; battery management, including fire risk; currency risks; effects of inflation on results of operations; factors relating to title to properties; dependence on key personnel, and share-price
volatility. Refer to the Company’s Options prospectus dated 25 November 2025 for additional details regarding key risks facing the Company. They also include unanticipated and unusual events,
many of which it is beyond the Company’s ability to control or predict.
Whilst care has been exercised in preparing and presenting this presentation, to the maximum extent permitted by law, the Company, 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.
3
About Livium
Livium is building Australia’s platform for circular
material recovery — unlocking critical
materials from batteries and clean-energy
infrastructure.
Livium's subsidiary, Envirostream, is Australia’s
market-leading lithium-ion battery recycler.
Envirostream is seeking to expand its services into
processing black mass, and recycling of solar
panels and rare earth elements to meet its
customers' needs.
Beyond recycling, Livium has developed other
innovative technologies. Lithium extraction
technology, LieNA®, has progressed to a 50:50
joint venture with Mineral Resources. Livium’s
subsidiary, VSPC, has developed next
generation lithium ferro phosphate (LFP) process,
the fastest growing battery material.
Lithium-ion Batteries
Rare Earth Elements
Solar (Photovoltaic)
Black mass
processing
RECYCLING VERTICAL
OTHER VERTICALS
Lithium Chemicals (LieNA®)
Battery Materials (VSPC)
Key Statistics
A$6.9m
FY25 Revenue
(+3% on FY24)
667T
FY25 Large LIBs1
(+30% on FY24)
1.6%
Shareholding by staff,
executive and board
A$4.2m
FY25 Gross Profit
(+91% on FY24)
3
Operating sites
42
Group employees,
including board
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Note 1: Large format (>5kg) lithium-ion battery collections
35+ years’ experience
across a range of national
manufacturing and
engineering businesses
and has significant
experience in expanding
and developing businesses.
25+ years’ experience
focusing on the resources
sector, with 15+ years’
experience on boards
and committees.
30+ years’ experience
as a senior executive
across oil and gas,
mining and chemical
processing sectors.
25+ years of
senior management
experience within
global manufacturing,
recycling and
engineering services.
Phil Thick
Non-Executive Director
25+ years’ experience
with mineral extraction,
mineral exploration,
finance and agribusiness.
Kristie Young
Non-Executive Director
Simon Linge
Managing Director and CEO
Stuart Tarrant
Chief Financial Officer
Phillip Campbell
Non-Executive Chairman
Livium Board of Directors Livium Senior Leadership
Steven Marshall
Chief Operating Officer
10+ years’ experience in
the recycling industry with
proven commercialisation
experience.
Board and Management
Proven and experienced leadership
4
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Corporate Snapshot
Improved balance sheet
5
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Notes: 1: As at 28 February 2026
Financial information
Share price (1-Mar-26) A$0.011
Shares on issue 2,064m
Market capitalisation (1-Mar-26) A$24.7M
Cash (31-Dec-25) A$5.7m
Shareholder information1
BNP Paribas Nominees Pty Ltd 8.1%
Whale Watch Holdings Limited 3.6%
10 Bolivianos Pty Ltd 3.3%
Citicorp Nominees Pty Ltd 1.5%
Mr Kenneth Joseph Hall 1.5%
Total of above Top 5 shareholders 18.0%
Shareholding by staff, executive and board 1.6%
Share price (A$)
Volume (m)
0.008
0.009
0.010
0.011
0.012
0.013
0.014
0.015
0.016
0
5
10
15
20
25
30
35
40
6 month share price performance
Battery
Recycling
Vertical
Lithium-ion Battery Opportunity
EV / ESS dominate long-term EOL1 battery volume growth with EVS positioned to continue to lead market
1. EOL = End of life; 2. Battery Market Analysis - The latest market data for the battery industry in Australia: B-cycle (Oct23); 3. Company analysis.
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
-
50
100
150
200
250
300
350
400
450
500
550
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
%
EV/ESS
of
Total
EOL
Batteries
EOL
Battery
Volumes
(kT)
Forecast (Mixed) tonnes Forecast (ESS) tonnes Forecast (EV) tonnes Forecast (Lead Acid) tonnes
Australian EOL Battery Projections by Market Segment2,3 What drives batteries towards Livium?
Expanded footprint around Australia – Hub & Spoke model – to
increase capture zones and minimise transport
Simplify collection and transportation of batteries for clients
De-risk handling of batteries for clients
Updated regulatory position within Australia
Initial focus working with customer base of Residential and
Grid Energy Storage (ESS)
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8
Australian near term volume growth potential
Volume growth accelerated through regulatory reform – 12x potential
Livium Growth Drivers: Industry and regulation1,2,5,6
The Addressable Battery Market: Volume Outlook1,2
Notes: 1. Battery Market Analysis - The latest market data for the battery industry in Australia: B-cycle (Oct23); 2. Company analysis; 3. Estimated market revenue potential based on the total of ESS and EV volumes at the average Livium
revenue unit rate of A$7.41/Kg achieved in FY25; 4. Company cautions that although it considers this to be a reasonable estimate, there is no guarantee that these revenues are achievable in the future; 5. FY25 EV and ESS collections by
Envirostream totalled 667 tonnes; 6. Key assumptions: (i) 10% of lithium-ion battery collections nationally by other recycling operators; (ii) 70% of current volumes subject to stockpiling or export; and (iii) a 50% increase in available volumes through
regulatory changes reducing export and stockpiling. This results in 3,360 tonnes @ 70% = 2,357 tonnes estimated as exported or stockpiled. 50% of this (1,179 tonnes) are assumed to become available, and it is assumed that Livium maintains its
20% share of these volumes (784 tonnes). FY25 volumes were 667 tonnes and 784 tonnes is 117% of FY25.
2,110 1,250
28,670
32,030
Current estimated annual
EOL (tonnes)
14,820
5,500
30,880
51,200
By 2030 estimated annual
EOL (tonnes)
Current Estimated Large Format
Addressable Market
A$25 million3,4
2030 Estimated Large Format
Addressable Market
A$151 million3,4
43% CAGR in
ESS / EV volumes
by 20302
667
8,774
4,740
4,034
3,367
Est. 2030 Volumes After Regulatory Impact
Regulatory Impact
Est. 2030 Volumes Before Regulatory Impact
Natural Growth to 2030
FY25 Actual Volumes
▪ According to B-cycle, total available EV and ESS battery
volumes were estimated at 3,360 tonnes.
▪ EVS processed ~20% of the above in FY25 (667T), indicating
substantial leakage through stockpiling and export.
▪ B-cycle estimates ~5x natural growth in battery volumes by
2030, and EVS estimates the potential for ~12x growth under a
regulatory reform scenario.
5x
12x
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Maturing Industry & Regulation
GLOBAL FRAMEWORK:
Basel Convention
Australia B-Cycle Scheme 2.0 - July 2026
Battery Landfill Bans WA, SA, VIC, ACT
NSW Product Lifecycle Responsibility Act 2025 –
Batteries 1st 2026
Australia B-Cycle Scheme 1.0
CURRENT AU FRAMEWORK
NEAR TERM AU FRAMEWORKS
Productivity Commission Report January 2026 – Product
Stewardship for Solar and EV Batteries
VIC Product Lifecycle Responsibility Bill 2026
EU FRAMEWORK:
EU Battery Passport
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“Battery recycling is moving from a fragmented
market to a regulated global industry with clear
frameworks to govern lifecycle management.”
Steven Marshall, Chief Operating Officer, Livium
Global treaty regulating the
cross-border movement of
hazardous waste,
including end-of-life
batteries.
EU digital tracking
system providing lifecycle
data on batteries to
improve transparency
and recycling.
10
Envirostream: Core capabilities
Battery Recycling - Proven collection and pre-processing capability
Our Current Activities
Access to waste supply is our key advantage
*Note: Non-exhaustive client list
Black
Mass
Copper
Aluminium
Steel
Plastics
Local Australian
processors
Currently exported as a
commodity product.
Primarily into South
Korea, though also
broader Asia.
Future onshore refining
following technology
development.
COLLECTION STORAGE
MANUAL
PREPARATION
PRE-
PROCESSING &
MATERIAL
RECOVERY
Waste
streams received
from customers for
a service fee
Responsibly
stored at recycling
facilities with industry
leading safety
measures
Safe
manual separation
in preparation for
pre-processing.
Physical
separation to ensure
the key materials
are separated for
sale.
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11
Recycling expansion to match capacity with demand
Livium’s new Derr Recycling Hub consolidates three sites into a single purpose-built facility
Positioned to capture significant industry growth
as EV and ESS reach end-of-life and volumes
accelerate through1.
▪ ~60% larger facility with potential capacity
expansion from ~2,400 tpa to ~10,660 tpa.
▪ Operational efficiencies through site
consolidation and scaled capacity.
Top Right: Image of Derrimut site from above; Bottom Right: Fire safety walls being installed; Bottom Left: Installation of equipment for the safe battery sorting and dismantling.
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1 Refer announcement dated 26 February 2026, “Livium Positions for Next Phase of Scalable Growth with New Recycling Hub”
Other
Recycling
Verticals
“Our recycling adjacency strategy builds on Livium’s core battery
recycling operations into connected opportunities — capturing
fast-growing waste streams with high material value.”
Simon Linge, MD & CEO of Livium
13
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Expanding our recycling capabilities
Leveraging our core strengths and customer relationships to expand into adjacent waste streams
Won Kwang S&T1:
Photovoltaic (PV) recycling
US$2.67Bn Global Opportunity4
Iondrive2:
Black mass, PV, REE processing
US$51.7 billion opportunity5
University of Melbourne (UoM)3:
REE extraction technology
US$7.3B Global Market6
• South Korean leader in solar energy and
resource-circulation innovation partnering
with Livium.
• Australian developer of extraction
technology using Deep Eutectic
Solvent (DES) for resource recovery.
• University of Melbourne developing
microwave technology to extract rare
earth elements (REE).
• Focus on end-of-life solar panel
recycling in AU, leveraging LIT’s
infrastructure and customer relationships.
• Developing clean energy waste
processing, combining LIT’s feedstock
and customers with Iondrive’s technology.
• Tech designed to improve recoveries
and reduce energy consumption in REE
processing.
• Phased development toward a potential
JV to build and operate an Australian PV
recycling facility.
• Phased pathway toward commercial
agreements, including supply
arrangements and potential co-location of
DES processing.
• LIT holds global exclusive rights and is
progressing a phased pathway toward
commercialisation, starting with a pilot
plant.
1 Refer announcement dated 18 September 2025, “Livium Expands Clean Energy Waste Recycling
Capabilities through Strategic Partnership with Won Kwang S&T”
2 Refer announcement dated 17 September 2025, “Livium Signs Binding Term Sheet with Iondrive
related to DES Technology for Clean Energy Waste Recycling”
3 Refer announcement dated 17 November 2025, “Livium Secures Exclusive Global Rights to
University of Melbourne Microwave Technology for Rare Earth Elements Extraction”
4 https://www.marketsandmarkets.com/Market-Reports/black-mass-recycling-market-114706852.html
5 SOLAR PANEL END-OF-LIFE MANAGEMENT IN AUSTRALIA 2023 (University of Sydney)
6 International Energy Agency (IEA) Global Critical Minerals Outlook 2025 (May 25)
14
EVS adjacency: Solar (PV) recycling
What collaboration brings
to Livium and its Partners
COLLECTION STORAGE
MATERIAL
PREPARATION
PROCESSING
PV Cell
Aluminium
Low Value:
Local
Australian
processors
Future Activities
Glass
Electronics
Development Plan What we’ve delivered so far
▪ Market assessment
▪ Similar commercial model to Batteries (i.e.
Gate fee upfront)
▪ PV panel separation technology partnership
▪ Valuable mineral extraction technology
partnership
▪ Plant implementation utilising battery
recycling footprint growth
✓ Commence solar panel export to South Korea
to facilitate the first stage of partnership with
Won Kwang S&T
✓ Provide samples of solar panels, black mass,
and REE magnets to support the cooperation
with Iondrive
High Value:
High purity
silicon and
silver.
▪ Access to a Global
Market: Estimated at
US$2.67Bn1
▪ Rising Local Waste
Volumes: Over 90kTpa of
EOL panels in Australia by
20352 creates a large,
viable feedstock for
recycling operations.
▪ High Material Value:
Panels contain aluminium,
glass, copper, silver, and
silicon—worth ~A$1,000 /
tonne3, offering potential
downstream revenue.
Current Activities
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1. Solar PV Recycling Market Size
2. Solar Panel End-Of-Life Management in Australia 2023
3. Company analysis
15
EVS adjacency: REE processing
COLLECTION STORAGE
MATERIAL
PREPARATION
PRE-
PROCESSING
PROCESSING
Current Activities Future Activities
Recovered
REEs
Development Plan What we’ve delivered so far
▪ Technology confirmation with University of
Melbourne
▪ Similar commercial model to Batteries (i.e. Gate
fee upfront)
▪ Valuable mineral extraction technology
partnership
▪ Plant implementation utilising battery recycling
footprint growth
✓ Develop supply of rare earth element (REE)
magnets and solar panels to support strategic
objectives
✓ Finalise University of Melbourne Licence
Agreement and provide support to advance
microwave technology
▪ Access to a Global
Market: Estimated at
US$7.3Bn1
▪ Geopolitical Advantage:
Currently China processes
~90% of the world's rare
earth supply2, with REE
now a key component in
geopolitical trade
discussions.
▪ High Material Value:
Magnetic REEs comprise
~30% of REE volume but
capture more than 80% of
the value3.
What collaboration brings
to Livium and its Partners
Processed
locally or traded
internationally
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1. Business Wire: Global Rare Earth Elements Market Report to 2026 - Growth Trends and Market
Forecast (May 22).
2. Business Insider: China rare earths are biggest card trade talks with Trump (June 25).
3. McKinsey & Co: Powering the energy transition’s motor: Circular rare earth elements (June 25).
Other
Verticals
17
Non-Recycling Verticals
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Lithium Chemicals: LieNA® Battery Materials: VSPC
Monetising the technology
The next commercial step remains the LieNA® Demonstration
Plant. However, in light of current market conditions, alternative
partnerships and monetisation opportunities are being explored.
JV formation & commercial scale
LieNA® 50:50 JV with MinRes will license to miners globally at
a gross product royalty rate of 8%1 (with potential revenue of
US$21m p.a. from a single licence2)
Commercial Potential
Potential annual revenue of US$319m assuming a 25,000 tpa
commercial plant and an LFP price of ~US$12.75/kg3.
Funding pathway to match ARENA grant
Funding commences spin-out of VSPC from Livium. If
viable funding is not confirmed, options to preserve or
realise value while minimising spend may be pursued.
1: Company cautions that although it considers this to be a reasonable expectation, there is no guarantee that this rate will be achieved;
2. Estimated revenue for the 50:50 JV based on: typical operation with 20,000tpa processing capacity (company assumption), achieving an average sale price of US$13,000/t (Source: SMM, Lithium Carbonate (99.5% Battery Grade) , 26 June
2024 converted at prevailing CNY/USD rate) at an 8% royalty rate;
3. Avenira Limited (ASX; AEV) Announcement (Scoping Study, 2 March 2023), Ave. LFP Basket Price;
• Driving greater profitability for miners using a unique
method of processing
• Improves sustainability by using less wastage as fine and
low-grade spodumene
• Increases mine asset value by extracting significantly more
lithium from the same spodumene resources
• Decreasing supply chain risks with localised production of
LFP/LMFP
• Validated and patented technology that has been tested by
commercial labs and over 20 global battery makers
• A$30m ARENA grant secured for Australian demonstration
plant with match funding being pursued
18
Key upcoming recycling activities in CY26
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Planned activities seek to unlock value
Complete consolidation of all Victorian sites into new Derrimut Recycling Hub
Activity Target
Progress national expansion strategy via a hub-and-spoke model; identify next key region
Diversify lithium-ion battery customers to access new and emerging industries
Scale up activities for recycling adjacencies with partners, as per agreed partner timelines
Finalise funding pathway for VSPC to match ARENA grant
Q4 2026
Q4 2026
Ongoing
Ongoing
Q2 2026
Identify and assess partner opportunities to accelerate and expand recycling scale Ongoing
Unit 1, 79–83 High Street,
Kew, VIC 3101
www.liviumcorp.com
Thank You
Appendices
21
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Technology enhancement
This strategy has the potential for the Company to use its pre-
processing pedigree to advance into processing.
Commercial model
“Fee for Service” model developed for battery recycling
deployed for alternate waste streams from similar customers.
Prior delivery underpins customer confidence.
Revenue growth and diversification
Expands Livium’s core battery recycling operations into
connected opportunities — capturing fast-growing adjacent
waste streams with high material value.
Asset-light market entry
Early stages require limited investment, with partners
supplying key equipment and technology — ideal for phased,
low-risk scaling.
We can expand our position
Meet customer needs
Current customer base needs a solution for these waste
streams, expanding our role as recycling partner under a
holistic approach.
Leverages core competency
A history of working with customers to solve their problems,
through safe handling and pre-processing of waste streams.
Staged progress
Utilises existing infrastructure and know-how in hazardous
material collection, handling, and regulation — lowering
startup friction.
Industry penetration
Current industry engagement provides access to new
customers and engagement with government bodies and
policymakers facilitates industry maturity.
We have a right to play
Why is Livium pursuing recycling adjacencies?
Envirostream is ready to expand its services to meet its customer needs
22
Addressing Rising Waste Volumes
Over 90kTpa of EOL panels in Australia by 2035 creates
a large, guaranteed feedstock for recycling operations.
High Material Value
Panels contain aluminium, glass, copper, silver, and
silicon—worth ~A$1,000/tonne3, offering potential
downstream revenue.
Regulatory Push
Currently only 10% of panels are recycled. A product
stewardship scheme was initiated in 2025, banning
landfilling and requiring producers to fund recycling.
Export Restrictions
Basel Convention amendments in place for the export of
solar waste, increasing domestic processing demand.
Australian Outlook
The country is projected to generate over 100,000 tonnes
of solar panel waste annually by 2030.
.
Why now? Significant national deployment coupled with regulatory drivers result in a need to PV waste solutions today
Notes: 1. Solar PV Recycling Market Size 2. Solar Panel End-Of-Life Management
in Australia 2023 3. Company analysis
Estimated Annual PV Waste (tonnes)2 Economic drivers2
-
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
100,000
2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035
PV Recycling – a US$2.67Bn Global Opportunity1
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REE US$7.3B Global Market1
23
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▪ Rare Earth Elements (REE) are becoming a key
component in geopolitical trade discussions..
▪ Currently China processes ~90% of the world's
rare earth supply2.
▪ Chinese custom officials are scrutinising and
restricting orders from overseas customers.
▪ In turn, demand of rare earths outside of China
continues to grow.
▪ Magnetic REEs comprise ~30% of REE volume but
capture more than 80% of the value3.
▪ Global addressable market for REE is expected to
reach US$7.3 billion by 20264.
▪ Secondary supply is looked upon favourably as a
gateway for local supply. Currently only 1% of the
world’s REE is recycled5.
Notes 1: Graphics/table on right: International Energy Agency (IEA) Global Critical Minerals Outlook 2025 (May 25);
2. Business Insider: China rare earths are biggest card trade talks with Trump (June 25);
3. McKinsey & Co: Powering the energy transition’s motor: Circular rare earth elements (June 25);
4. Business Wire: Global Rare Earth Elements Market Report to 2026 - Growth Trends and Market Forecast
(May 22); 5. Discovery Alert:Rare Earth Elements in Trade and Tariffs: Geopolitical Implications 2025
(April 25)
24
Black Mass Processing Opportunity
Off-take agreement for at least 60% of MMD production provides baseline1
Notes: 1. See ASX announcement, ‘Lithium Australia signs MMD off-take agreement with SungEel HiTech’, 13 June 2024; 2. International Energy Agency (IEA) Global Critical Minerals Outlook 2025 (May 25)
▪ Livium collects, dismantles and processes lithium-ion
batteries (collectively Pre-Processing)
▪ Livium holds certain patents in relation to the above
activities
▪ The key product from these activities is black mass
(often referred to as mixed metal dust or MMD)
▪ Livium sells black mass internationally including under a
3-year off-take agreement with SungEel HiTech
▪ SungEel HiTech purchases up to 60% of production –
subject to minimum quality requirements
▪ Demand for black mass is high due to global under
utilisation of black mass processing capacity
Current state
Huge addressable market
▪ Global black mass recycling market is expected to rapidly
grow, reaching US$51.7 billion by 20322.
Increasing demand for critical materials
▪ Geopolitical shifts underpin demand for recycled materials,
such as black mass, in the energy transition.
Improved economics
▪ Advancing through the value chain will help to drive
sustainable earnings growth.
Need for new technologies
▪ Low capex black mass extraction technologies allow
localised processing, reducing carbon footprint.
Future potential
ASX: LIT | March 2026 | investorhub.liviumcorp.com | www.liviumcorp.com
25
ASX: LIT | March 2026 | investorhub.liviumcorp.com | www.liviumcorp.com
Strategy Execution: Won Kwang S&T
Partnership with Won Kwang S&T
for end-of-life (EOL) PV recycling Phase 1
Export PVs
Phase 2
Frame &
Glass
Separation
Phase 3
Local full
processing
Proven
Won Kwang is a leader in solar energy and
resource-circulation innovation.
Australian Focus
Partnership seeks to establish a JV to build and
operate an Australian PV recycling facility.
Commercial
Livium will receive service fees from Won Kwang
for all phases of development.
Leveraging Livium’s supply chains to capture a fast-growing segment of the clean energy waste sector
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Strategy Execution: Iondrive
Binding Term Sheet advances clean energy waste processing including solar, black mass, and REE
Partnership Activities Commercialisation Pathway
❑ Livium to provide Samples to Iondrive
❑ Plant d
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