Announcement PDF 19 March 2024 Lithium Australia commences LieNA® piloting under JDA with Mineral Resources Ltd HIGHLIGHTS ◼ Lithium Australia has commenced piloting of its LieNA® technology, as outlined in the JDA with Mineral Resources Ltd. (ASX:MIN) (“MinRes”) ◼ Piloting is a key activity under the JDA and follows the successful commissioning of equipment and receipt of raw material samples from MinRes ◼ LieNA® has previously been successfully tested at laboratory scale, with piloting now seeking to demonstrate the technology at a larger scale ◼ Results from piloting will support the engineering study for a demonstration scale plant, which MinRes can elect to independently fund, develop, and operate ◼ Upon completion of piloting and an engineering study, Lithium Australia and MinRes will form a 50:50 joint venture to commercialise the LieNA® technology through a licensing model Lithium Australia Ltd (ASX:LIT) (“Lithium Australia” or the “Company”) is pleased to announce the successful commencement of piloting of the LieNA® technology at ANSTO1, as outlined in the joint development agreement (“JDA”) with MinRes2. ANSTO is a provider of specialist consultancy, process technology, process development and research services to mining and minerals processing industries, with which the Company has an established long term collaborative relationship on the development of the LieNA® processing and other technologies. Piloting is a key activity under the JDA and follows the successful commissioning of equipment and receipt of raw material samples from MinRes. The Company has commissioned a new pilot batch autoclave and received a raw material spodumene sample from MinRes in preparation for piloting. Lithium Australia’s LieNA® technology has previously been successfully tested at laboratory scale, with the current piloting program seeking to demonstrate the technology at a larger scale. The results from the piloting program will support the engineering study for a demonstration scale plant, which MinRes can elect to independently fund, develop, and operate. The Company has recently announced the appointment of Carnac Project Delivery Services as lead engineer for the demonstration plant engineering study. Upon completion of piloting and an engineering study, Lithium Australia and MinRes will form a 50:50 joint venture (“JV”) to commercialise the LieNA® technology through a 1 Australian Nuclear Science and Technology Organisation 2 See ASX announcement, ‘Landmark joint development agreement with Mineral Resources’, 7 August 2023 Lithium Australia Limited ASX: LIT ACN: 129 129 413 Address Suite 16 & 17, 79-83 High Street Kew, Victoria 3101, Australia Contact +61 (0) 3 7017 2656 info@lithium-au.com Media (Investor Hub & Web) investorhub.lithium-au.com lithium-au.com ` licensing model. The JV will wholly own the LieNA® technology going forward and will license the technology to third parties at a target headline gross product royalty rate of 8%3. The first license issued by the JV is expected to be for the demonstration plant. Following this, the JV will issue licenses to greenfield and brownfield spodumene mines both domestically and internationally. Comment from Lithium Australia CEO and Managing Director, Simon Linge “We are excited to announce the commencement of piloting under our JDA with MinRes, marking a significant milestone in our partnership’s progress towards the formation of a JV. The planned JV and licensing model with MinRes can capture a significant opportunity in the lithium market. LieNA® has potential application at new and existing lithium mines, with the royalty model expected to materially expand the Company’s addressable market by capturing a fee on all tonnage processed utilising the LieNA® technology. LieNA® is an exciting opportunity for the Company and we will continue to progress activities under the JDA as a top priority.” Authorised for release by the CEO and Managing Director. Simon Linge Managing Director / CEO Mobile +61 (0) 438 721 280 simon.linge@lithium-au.com Stuart Tarrant Chief Financial Officer Mobile +61 (0) 467 817 005 stuart.tarrant@lithium-au.com 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. About Lithium Australia Lithium Australia is aiming to lead and enable the global transition to sustainable lithium production. The Company operates Australia’s market leading battery recycler, produces critical battery material lithium ferro phosphate (LFP), and has developed a patented lithium extraction technology. Lithium Australia’s revenue-generating recycling business and technologies are well-placed to capitalise on growing global lithium-ion battery demand and provides diversification benefits to global supply chains. 3 The Company cautions that although it considers this to be a reasonable expectation, there is no guarantee that this rate will be achieved ASX ANNOUNCEMENTS Lithium Australia lithium-au.com Page 2