L1X Corp announces Private Placement for the world's first CLEAN SOURCED LITHIUM™ production facility for LITHIUM and HYDROGEN with ZERO external water consumption

KEY POINTS

Group

Up to date research verify the sturdy economics and tier one nature of the asset base, additional de-risking each firm development and future manufacturing (confer with Desk 1)
Complete group assets of ~40 million tonne (” Mt “) (confer with Desk 2) lithium carbonate equal (” LCE “) demonstrates the world class asset base of the Allkem Group
Extremely aggressive and low total group price of manufacturing and capital depth of development initiatives will ship materials working cashflow beneath present market situations and business pricing forecasts
Allkem (100% foundation) plans to ship 179,000 tonnes (” kt “) of LCE manufacturing capability by FY28 (165kt of LCE capability on an attributable foundation) up from roughly 50kt forecast for FY24
Progress initiatives are deliberate to be absolutely funded from present company money, present or new company debt/mission finance amenities and money move from operations
Potential for additional a number of large-scale expansions at Olaroz, Sal da Vida, James Bay and Cauchari

James Bay

Materials enhance of Mineral Useful resource Estimate to 110.2 Mt at 1.30% Li ₂ O. The deposit is open laterally and at depth with attainable important further mineralisation to be drilled later CY23
Capital prices have elevated in-line with business situations, with economics remaining sturdy
A bigger improvement, supported by the elevated Mineral Useful resource Estimate, can be evaluated by administration and the technical workforce
Continued analysis of downstream alternatives in North America, which can embody the potential to leverage the Bécancour website and design following the merger with Livent
Federal approvals obtained in January 2023 and the Provincial approval course of is in ultimate levels

Mt Cattlin

Profitable ore reserve and assets substitute confirms mine life extension
Manufacturing forecast of 210-230kt for FY24 as essential elements of the orebody are accessed

Olaroz

Finalising commissioning of stage 2 with first moist manufacturing achieved in July
Long run working prices for the mixed Stage 1 and Stage 2 operation are estimated at US$4,149 per tonne LCE over the life-of-mine (” LOM” ) contemplating operational synergies from the joint operation of Stage 1 and a couple of
Olaroz useful resource elevated to 22Mt LCE and when mixed with the adjoining Cauchari useful resource gives 28Mt of LCE, underpinning potential for future will increase in manufacturing inside the Olaroz/Cauchari complicated

Sal da Vida (“SDV”)

SDV 1 and SDV 2 capital prices have elevated to US$1,031million in-line with common business inflation, with economics remaining sturdy. This price enhance incorporates the affect of engineering upgrades, Argentine inflation and new taxes on imports
SDV 1 plans to realize mechanical completion in H1 CY25 and first manufacturing in H2 CY25 after additionally incorporating engineering upgrades and experiences of different initiatives within the area
Long run working prices stay aggressive at US$4,003 per tonne LCE for SDV 1 and SDV 2, and US$4,529 per tonne LCE for SDV 1 on a standalone foundation making it a really aggressive operation capable of ship excessive margins throughout a variety of pricing outcomes
Useful resource upgraded to 7.2 Mt LCE helps potential additional manufacturing growth
SDV plans to offer 30kt of further LCE manufacturing with first manufacturing focused CY27

Cauchari

The 2019 technical examine has been up to date for the 100% owned Cauchari mission with manufacturing capability of 25ktpa, working prices at US$4,081 per tonne LCE and first manufacturing deliberate in CY27
The proposed Cauchari improvement plan to profit from engineering design work and learnings at Olaroz, with a big effectivity enchancment alternative by leveraging Olaroz infrastructure

Desk 1: Allkem Group Key Metrics

Asset	Location	Manufacturing capability conc. (‘000) t	Manufacturing ¹ Capability LCE (‘000) t	Working price US$/t conc.	Improvement Capex US$M	NPV ² (pre-tax) US$B
*James Bay*	Quebec, Canada	311	39	407	382	2.9
*Mt Cattlin*	Western Australia	220	27	850	80	1.0
Complete Laborious Rock		531	66	590		3.9
			Manufacturing Capability LCE (‘000) t	Working price US$/t LCE	Improvement Capex US$M	NPV ² (pre-tax) US$B
*Sal de Vida*	Catamarca, Argentina		45	4,003	1,031	5.5
*Olaroz*	Jujuy, Argentina		42.5	4,149	–	7.0
*Cauchari*	Jujuy, Argentina		25	4,081	659	2.5
Complete Brine			113	4,075	1,690	15
Complete Allkem (LCE foundation) ³			179		2,152	18.9

Desk 2: Allkem Group Complete Sources ⁴

Asset	Location	Ore Tonnes (Mt)	Grade Li ₂ O (%)	Contained (‘000) t LCE
*James Bay*	Quebec, Canada	110.2	1.3	3,540
*Mt Cattlin*	Western Australia	12.1	1.3	390
Complete Laborious Rock Useful resource		122.3	1.3	3,930

		Brine quantity (m3)	Common Li mg/l	Contained (‘000) t LCE
*Sal de Vida*	Catamarca, Argentina	1.9 x 10 ⁹	724	7,172
*Olaroz*	Jujuy, Argentina	6.7 x 10 ⁹	636	22,630
*Cauchari*	Jujuy, Argentina	2.2 x 10 ⁹	475	5,950
Complete Brine Useful resource				35,752
Complete Allkem Useful resource (LCE)				39,682

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¹ Spodumene focus manufacturing quantities proven as metrics tons of spodumene at a Li ₂ O% grade. Conversion to LCE is 0.02552 metric tons of lithium steel to 1 metric ton of spodumene focus at 5.5% Li ₂ O. Conversion to LCE is 0.02784 metric tons of lithium steel to 1 metric ton of spodumene focus at 6.0% Li ₂ O.
² NPV figures are from every mission ASX launch utilising Wooden McKenzie pricing forecasts. Web Current Worth (” NPV “) for Laborious Rock belongings at 8% actual low cost charge. NPV for Brine belongings at 10% actual low cost charge
³ Manufacturing is on 100% foundation, attributable manufacturing is 165ktpa

Managing Director and Chief Government Officer, Martin Perez de Solay commented:
“These mission updates verify the sturdy economics and tier one nature of our asset base, additional de-risking firm development, future manufacturing and profitability . The research that are underpinned by our important working and mission improvement expertise show low prices and low capital depth that can maximise margins and shareholder returns all through the pricing cycle. The Allkem mission portfolio gives us with a stable base to reinforce our vertical integration technique and relationships downstream within the international provide chain.”

JAMES BAY PROJECT SUMMARY

Up to date Feasibility Examine confirms a sturdy, high-value onerous rock lithium operation utilising renewable hydropower
Materials ~108% enhance in pre-tax Web Current Worth (” NPV “) to US$ 2.9 billion with a robust inner charge of return and brief payback interval

Mission Particulars

Just lately introduced Complete Mineral Useful resource of 110.2 Mt at 1.30% Li ₂ O, together with 54.3 Mt at 1.30% Li ₂ O within the Indicated Class, and 55.9 Mt at 1.29% Li ₂ O within the Inferred Class with additional drilling deliberate to check attainable extensions to mineralisation
Ore Reserve of 37.3 Mt at 1.27% Li ₂ O gives an extended life, low price spodumene operation and stays according to allowing issues
Common annual manufacturing of 311 ktpa of spodumene focus with an 18.8-year mine life
Shallow, near-surface mineralisation perfect for open lower mining with a low LOM strip ratio of three.6:1
2 Mtpa course of plant design stays unchanged from 2021 feasibility examine, producing a 6.0% Li ₂ O spodumene focus with operational flexibility to provide a 5.6% Li ₂ O spodumene focus
Very comparable course of design and flowsheet to that already efficiently employed at Mt Cattlin
Low-cost, sustainable supply of hydropower now put in to website
Sturdy relationships with Cree Nation of Eastmain, Cree Nation Authorities and all stakeholders

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⁴ Sources are offered because the sum of Measured, Indicated and Inferred Useful resource and are reported according to the JORC Code (2012). The boldness classes assigned beneath the JORC Code are akin to the boldness classes within the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition Requirements on Mineral Sources and Mineral Reserves, Could 2014. The reader must be cautioned that beneath NI 43-101 pointers, Inferred Mineral Sources can’t be grouped with Measured and Indicated classes and that the JORC code is taken into account an “accepted overseas code” as described in Half 7 of the NI 43-101 Requirements of Disclosure . See particular person mission releases dated as per this launch for additional info

Mission Financials

Up to date capital price estimate (” CAPEX “) of US$381.5 million, a 34% enhance since 2001 which displays inflationary situations
Money working prices (FOB Montreal) of US$407 per tonne of 5.6% Li ₂ O focus additionally reflecting some inflationary affect. This price of manufacturing stays extremely aggressive and can ship excessive margins throughout a variety of pricing outcomes
Pre-tax NPV of US$2.9 billion at an 8% low cost charge and post-tax NPV of US$1.7 billion reflecting a rise in lithium value assumptions and market outlook
Pre-tax Inside Fee of Return (” IRR” ) of 62.2% and pre-tax payback interval of 1.4 years
Publish-tax Inside Fee of Return (” IRR” ) of 45.4% and post-tax payback interval of 1.7 years

Mission Execution

Detailed engineering and procurement actions progressed at 80% supporting the up to date price estimate and bringing the mission prepared for about 19 months of development as soon as provincial authorisation is obtained
Influence and Profit Settlement discussions and Provincial Environmental and Social Influence Research Evaluate is in ultimate levels
Additional carbon research and initiatives underway to align the mission to Allkem’s goal of net-zero emissions by 2035

OLAROZ PROJECT SUMMARY ⁵

Stage 1 and a couple of (42,500 lithium carbonate equal tonnes each year)

Monetary Metrics

Pre-tax NPV of US$7.01 billion at a ten% low cost charge and a Publish-tax NPV of US$4.56 billion
Long run working prices for the mixed Stage 1 and Stage 2 operation are estimated at US$4,149 per tonne LCE over the LOM contemplating operational synergies from the joint operation of Stage 1 and a couple of enabling excessive revenue margins

Mineral Useful resource

Complete Mineral Useful resource Estimate of twenty-two.63 Mt of LCE , a ten% enhance from the earlier estimate in March 2023 with a 52% enhance in Measured Mineral Sources
The Mineral Useful resource now contains 11.54 Mt of LCE as Measured, and three.83 Mt as Indicated for a mixed 15.38 Mt of Measured & Indicated Mineral Useful resource. There’s a further 7.25 Mt of Inferred Sources for a complete useful resource of twenty-two.6Mt (Measured, Indicated and Inferred)
The development in Mineral Useful resource categorisation outcomes from reclassification of Indicated Mineral Sources between 200 and 650 m depth as Measured Mineral Sources within the pumping subject space. This displays the larger quantity of data obtainable from pumping efficiency since set up of the Stage 2 wells and the addition of Maria Victoria tenements
Olaroz’s LOM manufacturing represents ~8.5% of the Measured and Indicated Mineral Sources, additional confirming the Tier 1 standing of the basin, and its potential to help further expansions

Stage 2 (25,000 lithium carbonate equal tonnes each year)
The growth achieved first moist lithium carbonate manufacturing in July 2023. Commissioning actions are ongoing and manufacturing is scheduled for H2 CY23, ramp-up is deliberate to take 1 12 months.

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⁵ Reported on 100% foundation, AKE share is 66.5%

SAL DA VIDA PROJECT SUMMARY

Stage 1 and a couple of (45,000 lithium carbonate equal tonnes each year)

Monetary Metrics

Pre-tax NPV of US$5.51 billion at a ten% low cost charge. The Publish-tax NPV ₁₀ is US$3.18 billion
Working price extremely aggressive at US$4,003 per tonne LCE regardless of will increase within the value of soda ash, lime and labour prices

Mineral Useful resource and Ore Reserve

Complete Mineral Useful resource Estimate of seven.17 Mt LCE, a 5% enhance from the earlier estimate in 2022, with a 41% enhance in Measured Mineral Sources
Complete Ore Reserve Estimate of two.49 Mt LCE supporting a 40-year mission life primarily based on Ore Reserves solely, a 43% enhance from the earlier assertion attributable to a revised level of reference for Ore Reserve reporting of ‘brine pumped to the evaporation ponds’

Stage 1 (15,000 lithium carbonate equal tonnes each year)

Monetary Metrics

Pre-tax NPV of US$2.01 billion at a ten% low cost charge
Working prices of US$4,529 per tonne LCE regardless of will increase within the value of soda ash, lime, pure fuel and labour prices

Mission Value and Schedule Replace

Improvement CAPEX of US$374 million which is according to inflationary situations
Substantial mechanical completion, pre-commissioning and commissioning actions are deliberate in H1 CY25 with first manufacturing deliberate H2 CY25 and ramp up deliberate to take 1 12 months
The schedule adjustment comes with an improved understanding of the execution plan, the continued import challenges and delays skilled in nation by Allkem and its contractors and distributors in addition to an improved understanding of regional productiveness elements

Stage 2 (30,000 tonnes lithium carbonate equal each year)

Mission Value and Schedule Replace

The prefeasibility examine replace confirms the Stage 2 growth can be accomplished and considerably the identical design foundation as Stage 1 with a twofold modular replication of the Stage 1 design
CAPEX is estimated at roughly US$657 million with Stage 2 benefiting from Stage 1 detailed engineering, established on website infrastructure and established regional development groups and amenities
Stage 2 development is anticipated to start upon receipt of relevant permits and substantial mechanical completion of Stage 1 with Stage 2 first manufacturing roughly 2.5 – 3 years thereafter

CAUCHARI PROJECT SUMMARY

Monetary Metrics

Evaluation primarily based on 25,000 tonnes each year manufacturing capability updating the April 2019 examine
Pre-tax NPV of US$2.52 billion and Publish-tax NPV of US$1.37 billion at 10% low cost charge
Working prices of US$4,081 per tonne LCE after will increase within the value of soda ash, lime, pure fuel and employment prices

Mineral Useful resource and Ore Reserve

Complete Mineral Useful resource Estimate of 5.95 Mt LCE
Complete Ore Reserve Estimate of 1.13 Mt LCE supporting a 30-year mission life primarily based on Ore Reserves solely, an 11% enhance from the earlier assertion attributable to a revised level of reference for Ore Reserve reporting of ‘brine pumped to the evaporation ponds’

Mission Value and Schedule Replace

Improvement CAPEX of US$659 million for mechanical completion
Substantial mechanical completion, pre-commissioning and commissioning actions are deliberate by H1 CY27 with first manufacturing deliberate in H2 CY27 and ramp up deliberate to take 1 12 months

MT CATTLIN RESOURCE AND ORE RESERVE ESTIMATE

The Mt Cattlin Ore Reserve estimate is predicated on an up to date Mineral Useful resource Estimate launched on 17 April 2023 . The Mineral Useful resource was up to date after the completion of a serious infill drilling program which efficiently upgraded Inferred Mineral Sources.

Allkem has reviewed and up to date the Mt Cattlin Ore Reserve (Desk 3 under), incorporating infill drilling outcomes from the 2NW deposit, depleted mined materials and website stockpiles at 30 June 2023 and materials to be mined after this date are offered in accordance with JORC (2012) Ore Reserve Reporting.

Desk 3: Mt Cattlin Ore Reserve Replace at 30 June 2023

Classification	Location	Ore Tonnes (Mt)	Grade Li ₂ O (%)	Grade Ta ₂ O ₅ (ppm)	Contained Metallic (‘000) t Li ₂ O)	Contained Metallic (‘000) lbs Ta ₂ O ₅
*Proved*	In-situ	0.2	0.9	120	1	45
*Possible*	In-situ	5.2	1.3	130	69	1,500
	Stockpiles	1.8	0.8	95	13	396
Complete Ore Reserve		7.1	1.2	120	84	1,900

Notes: Ore Reserves mine designs had been performed on a 0.4% Li ₂ O cut-ff grade and Ore Reserves are reported above a marginal cut-off grade of 0.3 % Li ₂ O. Estimates have been rounded to a most of two important figures, thus sum of columns could not equal.

Desk 4: Mt Cattlin Mineral Useful resource Replace as at 30 June 2023, depleted for mining

Classification	Location	Ore Tonnes (Mt)	Grade Li ₂ O (%)		Grade Ta ₂ O ₅ (ppm)	Contained Metallic (‘000) t Li ₂ O)	Contained Metallic (‘000) lbs Ta ₂ O ₅	Contained (‘000) t LCE
*Measured*	In-situ	0.2	1.0	%	172	2	75	5
*Indicated*	In-situ	8.8	1.4	%	165	121	3,197	299
*Inferred*	In-situ	1.8	0.8	%	95	13	396	32
*Indicated*	Stockpiles	1.3	1.3	%	181	17	518	42
Complete Mineral Useful resource		12.1	1.3	%	167	153	4,186	378

Notes: World Insitu Mineral Useful resource as at 30 June, 2023. COG 0.3% lithia. Depleted for mining 1.2Mt @1.2% lithia January-June, 2023

Desk 5: Mt Cattlin Mineral Useful resource Replace as at 30 June 2023, depleted for mining, inside a RPEEE shell USD 1,500

Classification	Location	Ore Tonnes (Mt)	Grade Li ₂ O (%)	Grade Ta ₂ O ₅ (ppm)	Contained Metallic (‘000) t Li ₂ O)	Contained Metallic (‘000) lbs Ta ₂ O ₅
*Measured*	In-situ	0.2	1.0	171	2	44
*Indicated*	In-situ	7.2	1.4	147	98	2,221
*Inferred*	In-situ	0.2	1.1	133	2	48
*Indicated*	Stockpiles	1.8	0.8	95	13	396
Complete Mineral Useful resource		9.4	1.2	137	115	2,700

Notes: RPEEE optimisations had been performed on a 0.4% Li ₂ O cut-ff grade and are reported above a marginal cut-off grade of 0.3 % Li ₂ O. Estimates have been rounded to a most of two important figures, thus sum of columns could not equal

Desk 6: Mt Cattlin Mineral Sources Replace as at 30 June 2023, depleted for mining, unique of Ore Reserves

Classification	Location	Ore Tonnes (Mt)	Grade Li ₂ O (%)	Grade Ta ₂ O ₅ (ppm)	Contained Metallic (‘000) t Li ₂ O)	Contained Metallic (‘000) lbs Ta ₂ O ₅
*Measured*	In-situ	0.1	1.0	179	1.0	39
*Indicated*	In-situ	3.2	1.4	201	44.8	1417
*Inferred*	In-situ	0.6	1.1	207	6.6	273
Complete Mineral Useful resource		3.9	1.3	201	52.4	1,700

Notes: Mineral Sources, unique of Ore Reserves are reported above a marginal cut-off grade of 0.3 % Li ₂ O. Estimates have been rounded to a most of two important figures, thus sum of columns could not equal. Not constrained by the RPEEE USD1,500 shell.

RESOURCE AND ORE RESERVE CONTROLS & GOVERNANCE

Allkem continues to evolve processes to make sure that quoted Mineral Useful resource and Ore Reserve estimates are topic to inner controls and exterior evaluate. Mineral Useful resource and Ore Reserves are estimated and reported in accordance with the 2012 version of the JORC Code.

Allkem shops and collects exploration information utilizing business normal software program that incorporates inner validation checks. Exploration samples from drilling have licensed reference materials requirements launched to the pattern stream at set ratios, usually 1 per 25 samples. These are reported as essential to the related Competent Individuals to evaluate each accuracy and precision of the assay information utilized to useful resource estimates. In useful resource modelling, block fashions are validated by checking the enter drill gap composites in opposition to the block mannequin grades by area.

Allkem engages impartial, certified consultants on a business charge for service foundation, to undertake Mineral Useful resource and Ore Reserve audits. Allkem internally reconciles the useful resource outcomes to validate each the method and the end result.

The Firm has developed its inner techniques and controls to keep up JORC compliance in all exterior reporting, together with the preparation of all reported information by Competent Individuals who’re members of the Australasian Institute of Mining and Metallurgy or a ‘Recognised Skilled Organisation’. As set out above, the Mineral Useful resource and Ore Reserve statements included on this announcement had been reviewed by suitably certified Competent Individuals (under) previous to their inclusion, within the kind and context introduced.

ENDS

This launch was authorised by Mr Martin Perez de Solay, CEO and Managing Director of Allkem Restricted.

IMPORTANT NOTICES

This investor ASX/TSX launch ( Launch ) has been ready by Allkem Restricted (ACN 112 589 910) (the Firm or Allkem ). It incorporates common details about the Firm as on the date of this Launch. The data on this Launch shouldn’t be thought of to be complete or to comprise the entire materials which a shareholder or potential investor within the Firm could require to be able to decide whether or not to deal in Shares of Allkem. The data on this Launch is of a common nature solely and doesn’t purport to be full. It must be learn together with the Firm’s periodic and steady disclosure bulletins which can be found at allkem.co and with the Australian Securities Alternate ( ASX ) bulletins, which can be found at www.asx.com.au .

This Launch doesn’t keep in mind the monetary scenario, funding aims, tax scenario or specific wants of any individual and nothing contained on this Launch constitutes funding, authorized, tax, accounting or different recommendation, nor does it comprise all the knowledge which might be required in a disclosure doc or prospectus ready in accordance with the necessities of the Companies Act 2001 (Cth) ( Companies Act ). Readers or recipients of this Launch ought to, earlier than making any selections in relation to their funding or potential funding within the Firm, think about the appropriateness of the knowledge having regard to their very own particular person funding aims and monetary scenario and search their very own skilled funding, authorized, taxation and accounting recommendation acceptable to their specific circumstances.

This Launch doesn’t represent or kind a part of any provide, invitation, solicitation or advice to accumulate, buy, subscribe for, promote or in any other case eliminate, or challenge, any Shares or some other monetary product. Additional, this Launch doesn’t represent monetary product, funding recommendation (nor tax, accounting or authorized recommendation) or advice, nor shall it or any a part of it or the very fact of its distribution kind the idea of, or be relied on in reference to, any contract or funding resolution.

The distribution of this Launch in different jurisdictions outdoors Australia may additionally be restricted by legislation and any restrictions must be noticed. Any failure to adjust to such restrictions could represent a violation of relevant securities legal guidelines.

Previous efficiency info given on this Launch is given for illustrative functions solely and shouldn’t be relied upon as (and isn’t) a sign of future efficiency.

Ahead Trying Statements

Ahead-looking statements are primarily based on present expectations and beliefs and, by their nature, are topic to quite a few recognized and unknown dangers and uncertainties that might trigger the precise outcomes, performances and achievements to vary materially from any anticipated future outcomes, performances or achievements expressed or implied by such forward-looking statements, together with however not restricted to, the chance of additional modifications in authorities rules, insurance policies or laws; the dangers related to the continued implementation of the merger between the Firm and Galaxy Sources Ltd, dangers that additional funding could also be required, however unavailable, for the continued improvement of the Firm’s initiatives; fluctuations or decreases in commodity costs; uncertainty within the estimation, financial viability, recoverability and processing of mineral assets; dangers related to improvement of the Firm Tasks; surprising capital or working price will increase; uncertainty of assembly anticipated program milestones on the Firm’s Tasks; dangers related to funding in publicly listed firms, such because the Firm; and dangers related to common financial situations.

Topic to any persevering with obligation beneath relevant legislation or related itemizing guidelines of the ASX, the Firm disclaims any obligation or enterprise to disseminate any updates or revisions to any forward-looking statements on this Launch to replicate any change in expectations in relation to any forward-looking statements or any change in occasions, situations or circumstances on which any such statements are primarily based. Nothing on this Launch shall beneath any circumstances (together with by motive of this Launch remaining obtainable and never being outmoded or changed by some other Launch or publication with respect to the subject material of this Launch), create an implication that there was no change within the affairs of the Firm for the reason that date of this Launch.

Competent Particular person Assertion

Mt Cattlin

The data on this announcement that pertains to Exploration Outcomes and Mineral Sources is predicated on info compiled by Albert Thamm, B.Sc. (Hons)., M.Sc. F.Aus.IMM (203217), a Competent One who is a Fellow of The Australasian Institute of Mining and Metallurgy. Albert Thamm is a full-time worker of Galaxy Sources Pty. Restricted. Albert Thamm has enough expertise that’s related to the fashion of mineralization and kind of deposit into consideration and to the exercise being undertaken to qualify as a Competent Particular person as outlined within the 2012 Version of the ‘Australasian Code for Reporting of Exploration Outcomes, Mineral Sources and Ore Reserves’. Albert Thamm consents to the inclusion on this announcement of the issues primarily based on his info within the kind and context wherein it seems.

The data on this announcement that pertains to the 30 June 2023 Mt Cattlin Ore Reserve is predicated on info compiled by Daniel Donald, B. Eng. (Mining), F.Aus.IMM (210032), a Competent One who is a Member of the Australasian Institute of Mining and Metallurgy. Daniel Donald is an worker working for Entech Mining Pty Ltd and has been engaged by Allkem Restricted to organize the documentation for the Mt Cattlin operation on which the Ore Reserve Report (launched 1 August 2023) is predicated, for the interval ended 30 June 2023, and has enough expertise that’s related to the fashion of mineralization and kind of deposit into consideration and to the exercise being undertaken to qualify as a Competent Particular person as outlined within the 2012 Version of the ‘Australasian Code for Reporting of Exploration Outcomes, Mineral Sources and Ore Reserves’. Daniel Donald consents to the inclusion on this announcement of the issues primarily based on his info within the kind and context wherein it seems.

Data on this announcement referring to Mt Cattlin scientific or technical info, manufacturing targets or forecast monetary info derived from a manufacturing goal is extracted from the report titled “Mt Cattlin Ore Reserve replace confirms mine life extension” dated 16 June 2023 obtainable at www.allkem.co and www.asx.com.au . The Firm confirms that every one the fabric assumptions underpinning the scientific or technical info, manufacturing targets or the forecast monetary info derived from a manufacturing goal within the authentic market announcement proceed to use and haven’t materially modified.

James Bay
Any info on this announcement that pertains to James Bay Mineral Sources & Ore Reserves is extracted from the report entitled “James Bay Lithium Mission Replace Confirms Sturdy Mission Economics” launched on 25 September 2023 which is accessible to view on www.allkem.co and www.asx.com.au. The Firm confirms that it isn’t conscious of any new info or information that materially impacts the knowledge included within the authentic market bulletins and that every one materials assumptions and technical parameters underpinning the Mineral Sources and Ore Reserves estimates within the related market announcement proceed to use and haven’t materially modified. The Firm confirms that the shape and context wherein the Competent Particular person’s findings are offered haven’t been materially modified from the unique market announcement.

Any info on this announcement referring to James Bay scientific or technical info, manufacturing targets or forecast monetary info derived from a manufacturing goal is extracted from the ASX Announcement entitled “James Bay Lithium Mission Replace Confirms Sturdy Mission Economics” launched on 25 September 2023 which is accessible to view on www.allkem.co and www.asx.com.au. The Firm confirms that every one the fabric assumptions underpinning the scientific or technical info, manufacturing targets or the forecast monetary info derived from a manufacturing goal within the authentic market announcement proceed to use and haven’t materially modified.

Sal de Vida
Any info on this announcement that pertains to Sal de Vida Mineral Sources & Ore Reserves is extracted from the report entitled “Sal de Vida Replace Delivers Improved Economics, Useful resource and Reserve” launched on 25 September 2023 which is accessible to view on www.allkem.co and www.asx.com.au. The Firm confirms that it isn’t conscious of any new info or information that materially impacts the knowledge included within the authentic market bulletins and that every one materials assumptions and technical parameters underpinning the Mineral Sources and Ore Reserves estimates within the related market announcement proceed to use and haven’t materially modified. The Firm confirms that the shape and context wherein the Competent Particular person’s findings are offered haven’t been materially modified from the unique market announcement.

Any info on this announcement referring to Sal de Vida scientific or technical info, manufacturing targets or forecast monetary info derived from a manufacturing goal is extracted from the ASX Announcement entitled “Sal de Vida Replace Delivers Improved Economics, Useful resource and Reserve” launched on 25 September 2023 which is accessible to view on www.allkem.co and www.asx.com.au. The Firm confirms that every one the fabric assumptions underpinning the scientific or technical info, manufacturing targets or the forecast monetary info derived from a manufacturing goal within the authentic market announcement proceed to use and haven’t materially modified.

Cauchari
Any info on this announcement that pertains to Cauchari Mineral Sources & Ore Reserves is extracted from the report entitled “Cauchari Mineral Useful resource and Ore Reserve Replace and Mission Replace” launched on 25 September 2023 which is accessible to view on www.allkem.co and www.asx.com.au. The Firm confirms that it isn’t conscious of any new info or information that materially impacts the knowledge included within the authentic market bulletins and that every one materials assumptions and technical parameters underpinning the Mineral Sources and Ore Reserves estimates within the related market announcement proceed to use and haven’t materially modified. The Firm confirms that the shape and context wherein the Competent Particular person’s findings are offered haven’t been materially modified from the unique market announcement.

Any info on this announcement referring to Cauchari scientific or technical info, manufacturing targets or forecast monetary info derived from a manufacturing goal is extracted from the ASX Announcement entitled “Cauchari Mineral Useful resource and Ore Reserve Replace and Mission Replace” launched on 25 September 2023 which is accessible to view on www.allkem.co and www.asx.com.au. The Firm confirms that every one the fabric assumptions underpinning the scientific or technical info, manufacturing targets or the forecast monetary info derived from a manufacturing goal within the authentic market announcement proceed to use and haven’t materially modified.

Olaroz
Any info on this announcement that pertains to Olaroz Mineral Sources is extracted from the report entitled “Olaroz Mineral Useful resource Replace, and Stage 1 & 2 Operations Replace ” launched on 25 September 2023 which is accessible to view on www.allkem.co and www.asx.com.au. The Firm confirms that it isn’t conscious of any new info or information that materially impacts the knowledge included within the authentic market bulletins and that every one materials assumptions and technical parameters underpinning the Mineral Useful resource estimates within the related market announcement proceed to use and haven’t materially modified. The Firm confirms that the shape and context wherein the Competent Particular person’s findings are offered haven’t been materially modified from the unique market announcement.

Any info on this announcement referring to Olaroz scientific or technical info, manufacturing targets or forecast monetary info derived from a manufacturing goal is extracted from the ASX Announcement entitled “Olaroz Mineral Useful resource Replace, and Stage 1 & 2 Operations Replace” launched on 25 September 2023 which is accessible to view on www.allkem.co and www.asx.com.au. The Firm confirms that every one the fabric assumptions underpinning the scientific or technical info, manufacturing targets or the forecast monetary info derived from a manufacturing goal within the authentic market announcement proceed to use and haven’t materially modified.

Not for launch or distribution within the United States

This announcement has been ready for publication in Australia and will not be launched to U.S. wire providers or distributed in america. This announcement doesn’t represent a proposal to promote, or a solicitation of a proposal to purchase, securities in america or some other jurisdiction, and neither this announcement or something hooked up to this announcement shall kind the idea of any contract or dedication. Any securities described on this announcement haven’t been, and won’t be, registered beneath the U.S. Securities Act of 1933 and will not be provided or bought in america besides in transactions registered beneath the U.S. Securities Act of 1933 or exempt from, or not topic to, the registration of the U.S. Securities Act of 1933 and relevant U.S. state securities legal guidelines.

APPENDIX 1 – RESOURCES & RESERVES

James Bay

James Bay Mineral Useful resource Estimate – Efficient date 30 June 2023

Class	Tonnage	Grade		Contained lithium oxide/LCE
Class	Mt	% Li ₂ O		(‘000) t Li ₂ O	(‘000) t LCE
Measured	–	–	–		–
Indicated	54.3	1.30	706		1,746
Measured + Indicated	54.3	1.30	706		1,746
Inferred	55.9	1.29	724		1,790
Complete Mineral Useful resource	110.2	1.30	1,430		3,537

The Unbiased Competent Particular person, as outlined by the JORC Code 2012, answerable for the preparation of this MRE is Mr. Luke Evans, P.Eng, a full-time worker of SLR. Mr. Evans is a member of L’Ordre des Ingénieurs du Québec, a Recognised Skilled Organisation outlined by the JORC Code 2012. The efficient date of the mineral useful resource is the 30 ^th June 2023 (erroneously recognized as Aug. 9, 2023 within the earlier information launch).
The Mineral Useful resource Estimate has been reported inside a conceptual pit shell at a cut-off grade of 0.50% Li ₂ O
The Mineral Sources are Inclusive of Ore Reserves.
The conceptual pit shell used to constrain the MRE has been outlined utilizing a spodumene focus value of US$1,500 per tonne, an change charge of CAD:US$ of 1.33, a complete ore-based price of CAD33.92 per tonne, a mining price of CAD4.82 per tonne, a focus transport price of CAD86.16 per tonne, and a metallurgical restoration of 70.1%.
The statements of Mineral Sources conform to the Australasian Code for Reporting of Exploration Outcomes, Mineral Sources and Ore Reserves (the JORC Code) 2012 version.
Mineral Sources will not be Mineral Reserves, as they don’t show financial viability.
The Competent Individuals will not be conscious of any drawback associated to the surroundings, permits or mining titles, or associated to authorized, fiscal, socio‐political, business points, or some other related issue that might have a big affect on this MRE.
The variety of tonnes has been rounded to the closest 100,000 tonnes, with any discrepancies noticed within the totals attributable to rounding results.
All tonnages reported are dry metric tonnes.

James Bay Ore Reserve – Efficient date 30 June 2023

Class	Tonnage	Grade		Contained Metallic
	Mt	% Li2O		(‘000) t Li ₂ O
Confirmed	–	–	–
Possible	37.3	1.27	474
Confirmed + Possible	37.3	1.27	474

The Unbiased Competent Particular person, as outlined by the JORC Code 2012, answerable for the preparation of the Ore Reserve estimate is Mr. Normand Lecuyer, P.Eng., an worker of SLR. Mr. Lecuyer is a member of L’Ordre des Ingénieurs du Québec (License No. 34914), a Recognised Skilled Organisation outlined by the JORC Code 2012. Efficient date of the estimate is June 30 ^th , 2023.
Ore Reserves are estimated utilizing the next steel costs (Li ₂ O Conc = US$ 1,500/t Li ₂ O at 6.0% Li ₂ O) and an change charge of CAD/US$ 1.33.
A minimal mining width of 5 m was used.
A cut-off grade of 0.62% Li ₂ O was used.
The majority density of ore is variable, is printed within the geological block mannequin, and averages 2.7 g/cm ³ .
The common strip ratio is 3.6:1.
The common mining dilution issue is 8.7% at 0.42% Li ₂ O.
Numbers could not add attributable to rounding

Olaroz

Olaroz Mineral Useful resource Estimate at August 2023

Class	Brine quantity	Common Li	In Situ Li	Li ₂ CO ₃ Equal	Li ₂ CO ₃ Variance to March 2023
	m ³	mg/l	tonnes	Tonnes	%
Measured	3.3 x 10 ⁹	659	2,170,000	11,540,000	53	%
Indicated	1.2 x 10 ⁹	592	720,000	3,840,000	-46	%
Measured & Indicated	4.5 x 10 ⁹	641	2,890,000	15,380,000	5	%
Inferred	2.2 x 10 ⁹	609	1,360,000	7,250,000	21	%
Complete	6.7 x 10 ⁹	636	4,250,000	22,630,000	10	%
The Competent Particular person(s) for these Mineral Sources estimate is Hydrominex Geoscience for Olaroz Comparability of values could not add up attributable to rounding or using averaging strategies Lithium is transformed to lithium carbonate (Li ₂ CO ₃ ) with a conversion issue of 5.323 The cut-off grade used to report Olaroz Mineral Sources is 300 mg/l Mineral Sources that aren’t Ore Reserves don’t have demonstrated financial viability, there isn’t any certainty that any or the entire Mineral Sources could be transformed into Ore Reserves after utility of the modifying elements

Sal de Vida

Sal de Vida Mineral Useful resource Estimate at August 2023

Class	Brine quantity	Common Li	In Situ Li	Li ₂ CO ₃ Equal	Li ₂ CO ₃ Variance to 2022
	m ³	mg/l	tonnes	Tonnes	%
Measured	8.8 x 10 ⁸	752	660,595	3,516,000	41	%
Indicated	7.6 x 10 ⁸	742	564,375	3,004,000	-20	%
Measured & Indicated	1.6 x 10 ⁹	747	1,224,970	6,520,000	5	%
Inferred	2.2 x 10 ⁸	556	122,497	652,000	5	%
Complete	1.9 x 10 ⁹	724	1,347,467	7,172,000	5	%
Observe: Lower-off grade: 300 mg/L lithium. The reader is cautioned that Mineral Sources will not be Ore Reserves and don’t have demonstrated financial viability. Values are inclusive of Ore Reserve estimates, and never “along with”.

Sal de Vida Ore Reserve Estimate at August 2023

Class	Wellfield	Time Interval	Li Complete Mass	Li ₂ CO ₃ Equal	Li ₂ CO ₃ Variance to 2022
		years	tonnes	tonnes	%
Proved	Stage I East	1-7	30,541	163,000	81	%
Proved	Stage II Enlargement	3-9	53,046	282,000	57	%
Complete Proved		1-9	83,587	445,000	65	%
Possible	Stage I East	8-40	146,520	780,000	53	%
Possible	Stage II Enlargement	10-40	236,947	1,261,000	31	%
Complete Possible		8-40	383,467	2,041,000	39	%
Complete Proved and Possible		40	467,054	2,486,000	43	%

Observe: Assumes 300 mg/L Li cut-off grade

Cauchari

Cauchari Mineral Useful resource Estimate at August 2023

Class	Brine quantity	Common Li	In Situ Li	Li ₂ CO ₃ Equal	Li ₂ CO ₃ Variance to 2019
	m ³	mg/l	tonnes	Tonnes	%
Measured	6.5 x 10 ⁸	527	345,000	1,850,000	0	%
Indicated	1.1 x 10 ⁹	452	490,000	2,600,000	-12	%
Measured & Indicated	1.8 x 10 ⁹	476	835,000	4,450,000	-7	%
Inferred	6.0 x 10 ⁸	473	285,000	1,500,000	0	%
Complete	2.4 x 10 ⁹	475	1,120,000	5,950,000	-6	%
The Competent Particular person(s) for these Mineral Sources and Ore Reserves estimate is Atacama Water Comparability of values could not add up attributable to rounding or using averaging strategies Lithium is transformed to lithium carbonate (Li2CO3) with a conversion issue of 5.323 The cut-off grade used to report Cauchari Mineral Sources is 300 mg/l Mineral Sources that aren’t Ore Reserves don’t have demonstrated financial viability, there isn’t any certainty that any or the entire Mineral Sources could be transformed into Ore Reserves after utility of the modifying elements

Cauchari Mission Reserve Estimate at 30 June 2023

Class	12 months	Brine Vol (Mm ³ )	Common Lithium Grade (mg/L)	Lithium (kt)	Li ₂ CO ₃ Equal (kt)
Proved	1-7	76	571	43	231
Possible	8-30	347	485	169	897
Complete	1-30	423	501	212	1,128

The Competent Particular person(s) for these Mineral Sources and Ore Reserves estimate is Atacama Water.
Comparability of values could not add up attributable to rounding or using averaging strategies.
Lithium is transformed to lithium carbonate (Li2CO3) with a conversion issue of 5.323.
The cut-off grade used to report Cauchari Ore Reserves is 300 mg/l.
Mineral Sources that aren’t Ore Reserves don’t have demonstrated financial viability, there isn’t any certainty that any or the entire Mineral Sources could be transformed into Ore Reserves after utility of the modifying elements.
The Lithium Ore Reserve Estimate represents the lithium contained within the brine produced by the wellfields as enter to the evaporation ponds. Brine manufacturing initiates in 12 months 1 from wells situated within the NW Sector. In 12 months 9, brine manufacturing switches throughout to the SE Sector of the Mission.
Roughly 25% of M+I Mineral Sources are transformed to Complete Ore Reserves.
Potential environmental results of pumping haven’t been comprehensively analysed on the PFS stage. Further analysis of potential environmental results can be accomplished as a part of the subsequent stage of analysis.
Further hydrogeological check work can be required within the subsequent stage of analysis to adequately confirm the quantification of hydraulic parameters within the Archibarca fan space and within the Decrease Sand unit as indicated by the sensitivity evaluation carried out on the mannequin outcomes. Ore Reserves are derived from and included inside the M&I Mineral Sources within the Mineral Useful resource.

APPENDIX 2– JORC 2012 TABLE 1 DISCLOSURE FOR MT CATTLIN

Part 1: Sampling Methods and Knowledge

MT CATTLIN LITHIUM PROJECT SAMPLING AND DATA
*Sampling strategies*		Nature and high quality of sampling (e.g. lower channels, random chips, or particular specialised business normal measurement instruments acceptable to the minerals beneath investigation, reminiscent of down gap gamma sondes, or handheld XRF devices, and so forth.). These examples shouldn’t be taken as limiting the broad that means of sampling. Embrace reference to measures taken to make sure pattern representivity and the suitable calibration of any measurement instruments or techniques used. Elements of the dedication of mineralization that are Materials to the Public Report. In circumstances the place ‘business normal’ work has been accomplished this may be comparatively easy (e.g. ‘reverse circulation drilling was used to acquire 1 m samples from which 3 kg was pulverized to provide a 30 g cost for hearth assay’). In different circumstances extra clarification could also be required, reminiscent of the place there’s coarse gold that has inherent sampling issues. Uncommon commodities or mineralization varieties (e.g. submarine nodules) could warrant disclosure of detailed info.	Pre-2017 Mt Catlin mineralization was sampled utilizing a mix of Diamond (DD) Reverse Circulation drill holes (RC), rotary Air Blast (RAB) and Open Gap (OH). Within the north zone drilling is a 40mE x 40mN spacing and infilled to 20mE to 25mE x 20mN to 20mN within the central zone. Within the south the drilling is on a 40mE x 80mN sample. Drill holes had been drilled vertical to intersect true thickness of the spodumene mineralization. A complete of 39 DD holes for 1,528.56m, 986 RC holes for 48,763m,59 OH holes for 1,999m and 23 RAB for 402m had been accomplished earlier than 2017. The drill-hole collars had been surveyed by skilled survey contractors. A complete of 71 drill holes had been surveyed by Surtron Applied sciences Australia of Welshpool in 2010. Sampling was carried out beneath Galaxy Sources QAQC protocols and as per business finest apply. RC pattern returns had been carefully monitored, managed and recorded. Drill samples had been logged for lithology and SG measurements. Diamond HQ and PQ core was quarter-cored to pattern lengths referring to the geological boundaries, however not exceeding 1m on common. RC samples had been composited from 1m drill samples break up utilizing a two-stage riffle splitter 25/75 to acquire 2kg to 4kg of pattern for pattern preparation. All samples had been dried, crushed, pulverized and break up to provide a 3.5kg after which 200g sub-sample for evaluation For Li (technique AAS40Q), for Ta, Nb and Sn (technique XRF78O) and in some circumstances for SiO2, Al2O3, CaO, Cr2O3, Fe2O3, K2O3, MgO, MnO, P2O5, SO3, TiO2 and V2O5 had been analysed by XRF78O. Whole drill-hole lengths had been submitted for assay. Drilling 2017-8 From 1m of drilling and sampling, two 12.5% splits are taken by a static cone splitter in calico drawstring luggage. This obtains two 2kg to 4kg samples with one being retained as an archive pattern and the opposite submitted for assay, the place required an archive bag is used because the duplicate pattern. A 4.5-inch diameter rod string is used and the cyclone is cleaned on the finish of each 6m rod as caking happens from the necessary use of mud suppression tools. Drilling November 2018 – 2021 Subsequent to 2018 replace, 5,912m (41 holes) of latest reverse circulation (RC) and 273.65m of diamond tails (2 holes) has been accomplished (excluding metallurgical and geotechnical) has taken place. From 1m of drilling and sampling, two 12.5% splits are taken by a static cone splitter in calico drawstring luggage. This obtains two 2kg to 4kg samples with one being retained as an archive pattern and the opposite submitted for assay, the place required an archive bag is used because the duplicate pattern. A 4.5-inch diameter rod string is used and the cyclone is cleaned on the finish of each 6m rod as caking happens from the necessary use of mud suppression tools. 2022 Drilling The present drillhole dataset for the mission incorporates 3,232 drillholes, for 175,950 metres, comprised of a mixture of reverse circulation (RC), diamond drilling (DD), and RC with a diamond tail (RC_DDT) drillholes. The dominant drillhole sort is RC, with over 95% of the metres being from RC drillholes. https://www.globenewswire.com/NewsRoom/AttachmentNg/cd40ca0c-ed34-4bc2-86c0-42226ac39945
*Drilling strategies*	Drill sort (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, and so forth.) and particulars (e.g. core diameter, triple or normal tube, depth of diamond tails, face-sampling bit or different sort, whether or not core is oriented and if that’s the case, by what technique, and so forth.).		RC drilling hammer diameter was usually 4 & 5/8 inches in early exploration, from 2009 and 2010 the bit diameter was 5 ¼ inches. RC 2017 -2020 5.25-inch face sampling hammer, reverse circulation, truck mounted or tracked drilling rigs, Three Rivers Drilling, Citadel Drilling. Diamond core is mostly RC from floor, and both PQ dimension tails in weathered rock and narrowed to HQ in recent rock (normal tubing). Core was not oriented because the disseminated and weathered nature of the mineralization doesn’t warrant or permit it. Diamond core is usually for metallurgical test-work. Pre-collars drilled wanting mineralisation. RC 2021 A 5.25-inch face sampling hammer, utilized in reverse circulation. ASX (Australian Floor Exploration) drillers used for RC (together with pre-collars). Diamond 2021 : Wizard Drilling utilised for diamond drilling from floor. HQ dimension Metallurgical and geotechnical diamond drilling (normal tubing). Two Metallurgical holes had been diamond tails from roughly 70m to 80m. 4 Geotechnical holes had been diamond from floor and two tails from 50-60m depth. RC 2022 PXD drilling was utilised for RC drilling from floor. HQ dimension Metallurgical and geotechnical diamond drilling (normal tubing) by Orlando Drilling. 4 Metallurgical holes and three Geotechnical holes had been diamond drilled from floor and two diamond tails from 150-160m depth.
*Logging*	Whether or not core and chip samples have been geologically and geotechnically logged to a stage of element to help acceptable Mineral Useful resource estimation, mining research and metallurgical research. Whether or not logging is qualitative or quantitative in nature. Core (or costean, channel, and so forth.) pictures. The entire size and share of the related intersections logged.		All DD, RC and OH (PC) and RAB intervals had been geologically logged (the place relevant); RQD (DD solely), interval weights, restoration, lithology, mineralogy and weathering had been recorded within the database. The DD core was oriented utilizing the Ezy-Mark instrument and after 2019 utilizing the Reflex ACT digital orientation instrument. Geological logging was qualitative. Recording of interval weights, restoration and RQD was quantitative. All DD core was photographed and consultant 1m samples of RC and OH (PC) chips had been collected in chip trays for future reference and photographed. All drill holes had been logged in full. 2017-2023 logging All drill holes are logged and validated through LogChief/ Maxwells Geosciences/DataShed techniques. Assays, requirements and management limits are monitored after loading of every batch and stories equipped on demand. All drill holes are logged in full. Totally different Lithium bearing mineral species are logged intimately.
*Sub- sampling strategies and pattern preparation*	If core, whether or not lower or sawn and whether or not quarter, half or all core taken. If non-core, whether or not riffled, tube sampled, rotary break up, and so forth. and whether or not sampled moist or dry. For all pattern varieties, the character, high quality and appropriateness of the pattern preparation method. High quality management procedures adopted for all sub-sampling levels to maximise representivity of samples. Measures taken to make sure that the sampling is consultant of the in situ materials collected, together with for example outcomes for subject duplicate/second-half sampling. Whether or not pattern sizes are acceptable to the grain dimension of the fabric being sampled.		Pre-2016 sampling All recent rock DD core was quarter-cored utilizing a stand mounted brick noticed. Mushy, weathered DD core was additionally sampled quarter-core, utilizing a knife and scoop the place relevant and sensible. RC samples had been collected utilizing a two stage riffle splitter. All samples had been dry or dried previous to riffle-splitting. All 2kg 1m drill samples had been despatched to SGS, dried, crushed, pulverized and break up to roughly -75µ to provide a pattern lower than 3.5kg sub-sample for evaluation. Sampling was carried out beneath Galaxy Sources QAQC protocols and as per business finest apply. Duplicate, clean and normal reference samples had been inserted into the pattern stream at random however averaging a minimum of 1 clean and normal in each 25 samples. Samples had been chosen periodically and screened to make sure pulps are pulverized to the required specs. Duplicate quarter-core samples had been taken from DD core at random for testing averaging one in each 25 samples. Duplicate riffle-split RC samples had been taken at random however averaging one each roughly 25 samples. The pattern sizes are acceptable to the fashion, thickness and consistency of the mineralization at Mt Catlin. Drilling 2016 (SGS) Core was halved by noticed and pattern lengths usually 0.5m in size. Pattern preparation concerned crushing adopted by splitting of pattern if pattern larger than 3 kg utilizing a riffle splitter (SPL26), Dry pattern, crush to 6mm, pulverise to 75µm (PRP88) in a LM5 Mill. Drilling 2017-2021 Diamond drilling was usually sawn half core with entire core used for metallurgical check work. Intertek (2017-8) Samples are sorted and weighed. Samples >3kg are riffle break up and milled in LM5 to acquire 85% passing 75 Microns. A 400g pulp is taken and a nominal 0.25g sub-sample is fused with sodium peroxide. Nagrom: 2018-2021 RC chips are dried to 105C°, crushed to nominal top-size of two mm in a Terminator Jaw crusher utilizing technique CRU01. Pulverised as much as 3 kg in a LM5 pulveriser mill at 80% or higher passing 75µm, utilizing technique PUL01. If the pattern is bigger than 3 kg, the pattern is dried, and break up with rotary splitter earlier than evaluation, Diamond core is dried, crushed in a Terminator Jaw crusher to prime dimension 6.3 mm, and pulverised in a LM5 mill as much as 2.5 kg utilizing technique CRU01. If the pattern is bigger than 2.5 kg, the pattern is riffle break up after drying to cut back the pattern dimension. Intertek 2022-3 Samples are sorted and weighed. Samples >3kg are riffle break up and milled in LM5 to acquire 85% passing 75 Microns. A 400g pulp is taken and a nominal 0.25g sub-sample is assayed by Sodium peroxide fusion in a Ni crucible / MS, OES technique FP6-Li/OM19.
*High quality of assay information and laboratory checks*	The character, high quality and appropriateness of the assaying and laboratory procedures used and whether or not the method is taken into account partial or whole. For geophysical instruments, spectrometers, handheld XRF devices, and so forth., the parameters utilized in figuring out the evaluation together with instrument make and mannequin, studying occasions, calibrations elements utilized and their derivation, and so forth. Nature of high quality management procedures adopted (e.g. requirements, blanks, duplicates, exterior laboratory checks) and whether or not acceptable ranges of accuracy (i.e. lack of bias) and precision have been established.		Pre-2016 QAQC All samples had been dried, crushed, pulverized and break up to produce a 3.5kg after which 200g sub-sample for evaluation For Li (technique AS40Q), for Ta, Nb and Sn (technique XRF78O) and in some circumstances for SiO2, Al2O3, CaO, Cr2O3, Fe2O3, K2O3, MgO, MnO, P2O5, SO3, TiO2 and V2O5 had been analysed by XRF78O. This course of entails fusing the pattern in a platinum crucible utilizing lithium metaborate/tetraborate flux. For Cs, Rb, Ga, Be and Nb now and again evaluation was by IMS40Q – DIG40Q to ICPMS finish. Duplicate, clean and licensed reference samples had been inserted into the pattern stream at random however averaging one each ~25 samples. Galaxy Sources utilized licensed Lithium requirements produced in China and one from SGS in Australia, STD-TAN1. Inter-laboratory checking of analytical outcomes was routinely undertaken to make sure continued accuracy and precision by the popular laboratory. Samples had been chosen periodically and screened by the laboratory to make sure pulps are pulverized to the required specs. All QAQC information is saved within the Mt Catlin database and common research had been undertaken to make sure pattern evaluation was saved inside acceptable ranges of accuracy; the research confirmed that accuracy and precision are inside business normal accepted limits. Umpire evaluation carried out on pulps at Genalysis and Ultratrace Perth 2016-QAQC In 2016 Perth SGS had been used for a small 6 gap diamond program by Basic Mining. Samples had been digested utilizing a sodium peroxide fusion digest, technique DIG90Q and the resultant resolution from the digest was then offered to an ICP-MS for the quantification of Li2O, utilizing technique IMS40Q. The vast majority of requirements submitted carried out inside anticipated ranges with a constructive bias noticed for 2 requirements. 2017 – 2021 QAQC Samples (together with QA/QC samples) had been processed by Intertek PLC, Perth laboratory in 2017 and 2018, by utilised technique FP1 digest (Peroxide Fusion – full), MS analytical end, 22 parts, Li2O detection restrict 0.03% Ta2O5 detection restrict, 0.2 ppm. Month-to-month evaluate of QA/QC, which incorporates blanks, subject duplicates, excessive grade requirements and CRM (licensed reference supplies) and SRM (normal reference supplies). FS_ICPMS is a Laboratory Methodology FP1/MS (mass spectrometry) used to analyse for Cs, Nb, Rb, Ta,Th, and U . FS/ICPES (inductively coupled plasma emission spectroscopy) is Laboratory technique FP1/OE used to analyse Al, Fe, Okay, Li, and Si. Stories embody calculated values of oxides for all parts. RC samples and diamond (together with QA/QC samples) have been processed by Nagrom Perth, Perth Western Australia. Strategies utilised from Lithium and Tantalum are ICP004 and ICP005 (Peroxide Fusion – full). ICP005 utilises tungsten carbide bowl to cut back iron contamination at exploration and useful resource improvement levels (detection restrict of 10ppm and 1ppm for Li2O and Ta respectively) Month-to-month evaluate of QA/QC, which incorporates blanks, subject duplicates, excessive grade requirements and CRM (licensed reference supplies) and SRM (normal reference supplies). All sampling has rigorous QAQC by way of reference sampling in addition to clean and requirements launched into the pattern steam. Duplicate subject samples present some proof of excessive nugget impact. Sometimes, duplicate pairs plot inside acceptable limits. Discipline duplicates have been submitted at a charge of 1 per 20.5 samples. Requirements used are ASM0343, ASM0340 AMIS0339, OREAS147, OREAS148 and OREAS149. Requirements reported just one consequence outdoors three normal deviations from 533 assays for Lithium. The vast majority of Tantalum requirements reported inside three normal deviations. Coarse blanks have proven no proof of systematic contamination from 2016-2021 with outcomes constantly low. QAQC in 2022-3 is broadly according to the processes above, assays are by Intertek, Perth and Kalgoorlie. Requirements used are OREAS 147, AMIS0341, OREAS 751, OREAS 753, OREAS 148, AMIS0341, AMIS0341, and OREAS 147 to help Sodium peroxide fusion in Ni crucible assay technique MS, OES FP6-Li/OM19. This technique gives close to full restoration for many samples. Ore grade requirements e.g. Oreas 751 reported solely 4 outcomes outdoors 2 normal deviations from assays for Lithia. The vast majority of Tantalum requirements reported inside 2 normal deviations. https://www.globenewswire.com/NewsRoom/AttachmentNg/80217775-a8b7-4a4c-9ae6-624a95c78501 The information is reasonably exact.
*Verification of sampling and assaying*	The verification of serious intersections by both impartial or different firm personnel. The usage of twinned holes. Documentation of main information, information entry procedures, information verification, information storage (bodily and digital) protocols. Focus on any adjustment to assay information.		Pre-2018 Verification An exterior geological advisor and employees have visually assessed and verified important intersections of core and RC and PC chips. A number of core holes had been in comparison with neighbouring RC and PC drill holes. The geological logging of the DD holes helps the interpreted geological and mineralization domains. Research on assays outcomes from twinned holes confirmed a detailed correlation of geology and assays. Major information is recorded by hand within the subject and entered Excel unfold sheets with in-built validation settings and look-up codes. Scans of subject information sheets and digital information entry unfold sheets are dealt with on website at Mt Cattlin. Knowledge assortment and entry procedures are documented, and coaching given to all employees. QAQC checks of assays had recognized a number of requirements uncontrolled, these had been subsequently reviewed and outcomes rectified. No clear and constant biases had been outlined by Galaxy in the course of the additional investigations into QAQC performances though deviations had been famous by Galaxy. 2017-8 Verification CP independently verified drilling, sampling, assay and outcomes from validated, externally maintained and saved database. No changes to assay information apart from conversion from Li to Li20 and Ta to Ta2O5. 2018 – 2022 Verification The CP independently verified drilling, sampling, assay and outcomes from validated, externally maintained and saved database. No changes to assay information apart from conversion from Li to Li20 and Ta to Ta2O5. Major information seize by Maxwell LogChief and administration by Maxwell DataShed. Assay information loaded instantly from Laboratory equipped .csv recordsdata as are downhole and collar surveys. An impartial information verification was accomplished as a part of a 2021 Ni-43-101 submitting by then competent individual. Knowledge exported from SQL database and verified by the CP. No changes are made to assay information.

Part 2: Reporting of Exploration Outcomes

Standards	JORC Code clarification	Commentary
*Mineral tenement and land tenure statu* s	Sort, reference title/quantity, location and possession together with agreements or materials points with third events reminiscent of joint ventures, partnerships, overriding royalties, native title pursuits, historic websites, wilderness or nationwide park and environmental settings. The safety of the tenure held on the time of reporting together with any recognized impediments to acquiring a license to function within the space.	Mining Lease M74/244 was amalgamated and awarded on 04/08/2009 and is legitimate till 23/12/2030 and covers 1830 Ha. The mission is topic to regular initiatives approvals processes as regulated by the WA Division of Mines, Business and Regulation. The tenement is topic to the Commonplace Noongar Heritage settlement as executed 7 February 2018. The underlying land is a mix of freehold property and vacant Crown land. The property Freehold title is held by Galaxy Sources or its baby subsidiaries.
*Exploration accomplished by different events*	Acknowledgment and appraisal of exploration by different events.	Through the 1960’s WMC carried out an intensive drilling program to outline the extent of native spodumene bearing pegmatite. The WMC work led onto an extra investigation into mission feasibility. In 1989 Pancontinental Mining, Restricted drilled 101 RC drill holes. In 1990 Pancontinental drilled an extra 21 RC drill holes. In 1997 Greenstone Sources drilled 3 diamond holes and 38 RC holes, undertook soil sampling and metallurgical check work on bulk samples from the mine space. Haddington Sources Ltd in 2001 drilled 9 diamond holes for metallurgical check work and undertook additional sterilization drilling. Galaxy acquired the M72/12 mining tenement from the Sons of Gwalia directors in 2006.
*Geology*	Deposit sort, geological setting and elegance of mineralization.	The Mount Catlin Mission lies inside the Ravensthorpe Suite, with host rocks comprising each the Annabelle Volcanics to the west, and the Manyutup Tonalite to the east. The contact between these rock varieties extends by the Mission space. The Annabelle Volcanics at Mt Cattlin encompass intermediate to mafic volcanic rocks, comprising each pyroclastic materials and lavas. The pegmatites which comprise the orebodies happens as a sequence of sub- horizontal sills, hosted by each volcanic and intrusive rocks, interpreted as a sequence of westward verging thrusts. Typical coarse grained spodumene (gray inexperienced color) from the NW pegmatite proven under. https://www.globenewswire.com/NewsRoom/AttachmentNg/5ab612e3-c59d-4a34-8db9-ec4df9aaecd1
*Drill gap Data*	A abstract of all info materials to the understanding of the exploration outcomes together with a tabulation of the next info for all Materials drill holes: easting and northing of the drill gap collar elevation or RL (Diminished Stage – elevation above sea stage in meters) of the drill gap collar dip and azimuth of the gap down gap size and interception depth gap size.	Pre-2017 drilling reported 4 August 2015 by subsidiary GMM (ASX:GMM). Final prior useful resource and replace was 28 November 2018 2019-2022 drill collars New useful resource improvement collar info is offered in Appendices under. Holes usually inclined between -75 to -80 levels to find out true width or attributable to native infrastructure.
*Knowledge aggregation strategies*	In reporting Exploration Outcomes, weighting averaging strategies, most and/or minimal grade truncations (e.g. reducing of excessive grades) and cut-off grades are normally Materials and must be said. The place combination intercepts incorporate brief lengths of excessive grade outcomes and longer lengths of low grade outcomes, the process used for such aggregation must be said and a few typical examples of such aggregations must be proven in element. The assumptions used for any reporting of steel equal values must be clearly said.	Pre-2017 Knowledge The place larger grade zones inner to broader intervals of decrease grade mineralization had been reported, these had been famous as included intervals and italicized. 2019-2022 Drilling New outcomes are reported to a 0.3% cut-of grade (under), minimal 4m width, most 1m inner dilution. Solely drillholes included into the useful resource mannequin are reported. No steel equal values are used.
*Relationship between mineralization widths and intercept lengths*	These relationships are significantly essential within the reporting of Exploration Outcomes. If the geometry of the mineralization with respect to the drill gap angle is thought, its nature must be reported. If it isn’t recognized and solely the down gap lengths are reported, there must be a transparent assertion to this impact (eg ‘down gap size, true width not recognized’).	All intersection grades have been reported beforehand as size weighted common grades utilizing a 0.3% Li2O decrease grade cut-off besides the place said. Intersections had been calculated permitting a most of 2m of inner dilution with no top-cut utilized. Slicing of excessive grades shouldn’t be required attributable to nature of the mineralization and grade distribution/estimation. The Mt Cattlin lithium and tantalum mineralization happens as a thick horizontal to softly dipping pegmatite and usually lies 30 to 280m under the present topographic floor leading to drill intercepts nearing true widths. All reported intersections in 2023 are approximate true widths.
*Diagrams*	Acceptable maps and sections (with scales) and tabulations of intercepts must be included for any important discovery being reported These ought to embody, however not be restricted to a plan view of drill gap collar areas and acceptable sectional views.	Diagrams are included within the textual content above.
*Balanced reporting*	The place complete reporting of all Exploration Outcomes shouldn’t be practicable, consultant reporting of each high and low grades and/or widths must be practiced to keep away from deceptive reporting of Exploration Outcomes.	All important intersections above 0.3% Li2O have been absolutely reported in earlier releases. 2019-2022 Drilling Drill gap collars and related assay particulars are appended under.
*Different substantive exploration information*	Different exploration information, if significant and materials, must be reported together with (however not restricted to): geological observations; geophysical survey outcomes; geochemical survey outcomes; bulk pattern– dimension and technique of therapy; metallurgical check outcomes; bulk density, groundwater, geotechnical and rock traits; potential deleterious or contaminating substances.	Fe2O3 is modelled with Li and Ta to find out the impact of deleterious chemistry and mineralogy at or close to pegmatite contacts and rafts of surrounding nation rock with pegmatite.
*Additional work*	The character and scale of deliberate additional work (eg checks for lateral extensions or depth extensions or large-scale step-out drilling). Diagrams clearly highlighting the areas of attainable extensions, together with the primary geological interpretations and future drilling areas, offered this info shouldn’t be commercially delicate.	Improvement and extraction of the NW Pit Mineral Useful resource and ore Reserve. Diagrams are illustrated within the textual content above. Feasibility examine work to commerce off open pit vs underground choices has commenced.

Part 3: Estimation and Reporting of Mineral Sources – Mt Cattlin

Standards	JORC Code clarification	Commentary
*Database integrity*	Measures taken to make sure that information has not been corrupted by, for instance, transcription or keying errors, between its preliminary assortment and its use for Mineral Useful resource estimation functions. Knowledge validation procedures used.	Pre-2017 On the time of the 2012 Mineral Useful resource estimates, Allkem had appointed a knowledge administrator to handle and host the Mt Catlin database in a GBIS SQL database. Discipline information was entered into project-specific password-protected unfold sheets with in-built auto-validation settings. The unfold sheets had been emailed to move workplace on a weekly foundation after which handed on to the info administrator, the place all information was topic to validation procedures and checks earlier than being imported into the central database. Invalid information was not imported into the central database however was quarantined till corrected. Knowledge exports had been routinely despatched from head workplace to website for visible validation utilizing ArcGIS and Micromine. 2017 to Jan 2019 Database and information QAQC processes was re-established after evaluate in 2016. The Datashed database was managed/maintained by Maxwell Geoservices and was validated externally to GXY and aggregated meta-data from website and the pattern laboratory. The assay laboratory reported pattern validation and checks on arrival. Database managers reported each QAQC and validation checks month-to-month and upon request. Jan 2019 to Present Allkem have employed a Database Administrator who masses all information, manages the database and performs routine validations on all loaded information. All logging is undertaken on a Toughbook utilizing the devoted LogChief logging system matched to the Knowledge-shed database. Visible validation of drilling information versus the wireframes in Surpac software program is undertaken routinely by Mine Geology and Exploration personnel.
*Website visits*	Touch upon any website visits undertaken by the Competent Particular person and the end result of these visits. If no website visits have been undertaken point out why that is the case.	The reporting CP has accomplished a number of website visits since 2016.
*Geological interpretation*	Confidence in (or conversely, the uncertainty of) the geological interpretation of the mineral deposit. Nature of the info used and of any assumptions made. The impact, if any, of different interpretations on Mineral Useful resource estimation. The usage of geology in guiding and controlling Mineral Useful resource estimation. The elements affecting continuity each of grade and geology.	The geological interpretation is taken into account sturdy because of the nature of the geology and mineralisation. Floor diamond and reverse circulation (RC) drillholes have been logged for lithology, construction, and alteration and mineralisation information. The lithological logging of pegmatite together with the Li ₂ O, Fe ₂ O ₃ and MgO assays, together with grain dimension and mineralogical differentiation, have been used to information the sectional interpretation of the pegmatites in Leapfrog Geo modelling software program. The geological wireframes have then been used as a boundary inside which inner, mineralisation wireframes have been generated in Leapfrog software program utilizing geology logging and assay information. The first assumption is that the mineralisation is hosted inside the fine-grained materials inside the pegmatite sills, which is taken into account sturdy. Weathering surfaces have been up to date by Allkem Sources in Leapfrog Geo software program for just lately accomplished drillholes. As a result of constant nature of the pegmatite recognized within the space, no different interpretations have been thought of. The pegmatites are discovered to be steady over the world of the deposit. The Li ₂ O% mineralisation interpretations are contained wholly inside the pegmatite geological models. Proof of late-stage faulting is current and has, the place acceptable, been included into the geological mannequin.
*Dimensions*	The extent and variability of the Mineral Useful resource expressed as size (alongside strike or in any other case), plan width, and depth under floor to the higher and decrease limits of the Mineral Useful resource	The Mt Cattlin pegmatites strike north-south and are usually between 10 m and 30 m broad and are usually flat-lying or with a refined dip east of round 5 to 10 levels. A number of completely different pegmatites have been recognized, both as separate intrusions or attributable to fault offsets, over a strike size of 1,300 m, an throughout strike extent of 1,700 m and right down to a depth of larger than 300 m under floor. 13 pegmatites have been recognized thus far within the NW and SW space. They vary in extent from 50 m alongside strike and 50 m down-dip to 650 m along-strike and 500 m down-dip. The pegmatites vary in thickness from a number of metres to twenty m.
*Estimation and modelling strategies*	The character and appropriateness of the estimation method(s) utilized and key assumptions, together with therapy of utmost grade values, domaining, interpolation parameters and most distance of extrapolation from information factors. If a pc assisted estimation technique was chosen embody an outline of laptop software program and parameters used. The provision of examine estimates, earlier estimates and/or mine manufacturing information and whether or not the Mineral Useful resource estimate takes acceptable account of such information. The assumptions made concerning restoration of by-products. Estimation of deleterious parts or different non-grade variables of financial significance (e.g. sulphur for acid mine drainage characterisation). Within the case of block mannequin interpolation, the block dimension in relation to the common pattern spacing and the search employed. Any assumptions behind modelling of selective mining models. Any assumptions about correlation between variables Description of how the geological interpretation was used to regulate the useful resource estimates. Dialogue of foundation for utilizing or not utilizing grade reducing or capping. The method of validation, the checking course of used, the comparability of mannequin information to drillhole information, and use of reconciliation information if obtainable.	Grade estimation for Li ₂ O%, Fe ₂ O ₃ % and Ta ₂ O ₅ ppm has been accomplished utilizing Extraordinary Kriging (OK) into pegmatite domains utilizing Datamine, Studio RM software program. Grade estimation of Fe ₂ O ₃ % has been accomplished utilizing OK into the encapsulating mafic waste and late-stage mafic dyke, which intersects the pegmatites. The geological, mineralisation and weathering wireframes generated have been used to outline the area codes by concatenating the three codes into one. The drillholes have been flagged with the area code and composited utilizing the area code to segregate the info. Laborious boundaries have been used in any respect area boundaries for the grade estimation Pegmatite waste wireframing utilizing Compositing has been undertaken inside area boundaries at 1m with a merge tolerance of 0.1 m. High cuts for all parts have been assessed for all mineralised and un-mineralised pegmatite domains, in addition to for the exterior waste and mafic dyke domains, with solely these domains with excessive values having been prime lower. The highest lower ranges have been decided utilizing a mixture of histograms, log chance and mean-variance plots. Two domains have been prime lower for Li ₂ O. Three domains have been top-cut for or Ta ₂ O ₅ ppm and no top-cutting accomplished in Fe ₂ O ₃ %. Variography has been accomplished in Supervisor 8.14 software program on a person area foundation. Domains with too few samples have borrowed variography. No assumptions have been made concerning the restoration of any by-products. The drillhole information spacing ranges from 40 m by 40 m useful resource definition drillhole spacing out to an 80 m by 80 m exploration spacing. The block mannequin mum or dad block dimension is 20 m (X) by 20 m (Y) by 5 m (Z), which is taken into account acceptable for the dominant drillhole spacing used to outline the deposit. A sub-block dimension of two.5 m (X) by 2.5 m (Y) by 0.625 m (Z) has been used to outline the mineralisation edges, with the estimation undertaken on the mum or dad block scale . Move 1 estimations have been undertaken utilizing a minimal of seven and a most of 27 samples right into a search ellipse set at roughly half of the variogram vary. A 4 pattern per drillhole restrict has been utilized in all pegmatite domains. Move 2 estimations have been undertaken utilizing a minimal of seven and a most of 27 samples right into a search ellipse set at roughly the variogram vary. A 4 pattern per drillhole restrict has been utilized in all pegmatite domains. Move 3 estimations have been undertaken utilizing a minimal of two and a most of 24 samples right into a search ellipse set at 4 occasions the Search 2 vary. The Mineral Useful resource estimate has been validated utilizing visible validation instruments mixed with quantity comparisons with the enter wireframes, imply grade comparisons between the block mannequin and composite grade means and swath plots evaluating the composite grades and block mannequin grades by Northing, Easting and RL. Mining reconciliation information for the NW and SW areas is accessible. No selective mining models are assumed on this estimate. No correlation between variables has been assumed.
*Moisture*	Whether or not the tonnages are estimated on a dry foundation or with pure moisture, and the tactic of dedication of the moisture content material.	Tonnes have been estimated on a dry foundation.
*Lower-off parameters*	The premise of the adopted cut-off grade(s) or high quality parameters utilized	For the depleted reporting of the Mineral Useful resource Estimate, a 0.3 Li2O% cut-off inside a USD 1,500 Whittle pit shell has been used. As well as, Mineral assets, unique of Ore reserves are offered, above.
*Mining elements or assumptions*	Assumptions made concerning attainable mining strategies, minimal mining dimensions and inner (or, if relevant, exterior) mining dilution. It’s at all times essential as a part of the method of figuring out cheap prospects for eventual financial extraction to think about potential mining strategies, however the assumptions made concerning mining strategies and parameters when estimating Mineral Sources could not at all times be rigorous. The place that is the case, this must be reported with a proof of the idea of the mining assumptions made.	A Whittle pit optimisation has been run at 1,500 USD to be able to generate a pit shell wireframe for Mineral Useful resource reporting functions and to fulfill the RPEEE reporting requirement. The mining assumptions/parameters utilized to the optimisation are: Mining Restoration – 93% Mining Dilution – 17% Li2O% Worth/tonne 6% focus – USD$1,500 Li2O% restoration – 75% Ta2O5ppm Worth/pound focus – USD$40 Ta2O5ppm restoration – 25% Transport and port Value/tonne – AUD$49.68 State Royalty – 5% Processing Value/tonne – AUD$33.16 Mining Value/tonne – AUD$4.29 USD change charge of 0.70 Li ₂ O cut-off of 0.4% has been utilized within the Whittle optimisation. Each Inferred and Indicated Mineral Useful resource classifications have been utilised within the RPEEE optimisation.
*Metallurgical elements or assumptions*	The premise for assumptions or predictions concerning metallurgical amenability. It’s at all times essential as a part of the method of figuring out cheap prospects for eventual financial extraction to think about potential metallurgical strategies, however the assumptions concerning metallurgical therapy processes and parameters made when reporting Mineral Sources could not at all times be rigorous. The place that is the case, this must be reported with a proof of the idea of the metallurgical assumptions made.	A Li2O% metallurgical restoration of 75% and Ta2O5 ppm restoration of 25% has been utilized in the course of the pit optimisation and era of the RPEEE pit shell.
*Environmental elements or assumptions*	Assumptions made concerning attainable waste and course of residue disposal choices. It’s at all times essential as a part of the method of figuring out cheap prospects for eventual financial extraction to think about the potential environmental impacts of the mining and processing operation. Whereas at this stage the dedication of potential environmental impacts, significantly for a greenfields mission, could not at all times be properly superior, the standing of early consideration of those potential environmental impacts must be reported. The place these points haven’t been thought of this must be reported with a proof of the environmental assumptions made	No environmental elements or assumptions have been included into this Mineral Useful resource Estimate since Mt Cattlin is a producing operation with Environmental approvals and an Environmental Administration Plan in place.
*Bulk density*	Whether or not assumed or decided. If assumed, the idea for the assumptions. If decided, the tactic used, whether or not moist or dry, the frequency of the measurements, the character, dimension and representativeness of the samples. The majority density for bulk materials will need to have been measured by strategies that adequately account for void areas (vugs, porosity, and so forth), moisture and variations between rock and alteration zones inside the deposit, Focus on assumptions for bulk density estimates used within the analysis technique of the completely different supplies.	No further bulk density information has been collected within the NW Space. As a consequence, the majority density values decided within the earlier MRE (Nov 2018) have been assigned to the block mannequin. The majority densities which have been assigned to the Mineral Useful resource block mannequin by lithology and weathering state are: https://www.globenewswire.com/NewsRoom/AttachmentNg/6ebe9a1e-fb8e-4a06-ae98-28f930166022
*Classification*	The premise for the classification of the Mineral Sources into various confidence classes Whether or not acceptable account has been taken of all related elements (i.e. relative confidence in tonnage/grade estimations, reliability of enter information, confidence in continuity of geology and steel values, high quality, amount and distribution of the info). Whether or not the consequence appropriately displays the Competent Particular person’s view of the deposit.	The useful resource classification has been utilized to the MRE primarily based on the drilling information spacing, grade and geological continuity, high quality of the estimation and information integrity. The classification takes under consideration the relative contributions of geological and information high quality and confidence, in addition to grade confidence and continuity. Parts of the deposit which have been estimated within the first two estimation passes and which have been estimated with a excessive diploma of confidence, with outlined grade continuity, have been labeled as Indicated Mineral Sources. Parts of the deposit which have been estimated and have an acceptable stage of drilling to imagine geological continuity of the pegmatite have been labeled as Inferred Mineral Sources. The classification displays the view of the Competent Particular person.
*Audits or opinions*	The outcomes of any audits or opinions of Mineral Useful resource estimates.	This 2023 Mineral Useful resource estimate for Mt Cattlin has been peer reviewed and validated. Authentic outputs in Datamine/Studio have been translated into Dassault/Surpac for additional improvement into regularised fashions for the event of diluted fashions.
*Dialogue of relative accuracy/* *confidence*	The place acceptable an announcement of the relative accuracy and confidence stage within the Mineral Useful resource estimate utilizing an method or process deemed acceptable by the Competent Particular person. For instance, the applying of statistical or geostatistical procedures to quantify the relative accuracy of the useful resource inside said confidence limits, or, if such an method shouldn’t be deemed acceptable, a qualitative dialogue of the elements that might have an effect on the relative accuracy and confidence of the estimate The assertion ought to specify whether or not it pertains to international or native estimates, and, if native, state the related tonnages, which must be related to technical and financial analysis. Documentation ought to embody assumptions made and the procedures used These statements of relative accuracy and confidence of the estimate must be in contrast with manufacturing information, the place obtainable	The relative accuracy of the Mineral Useful resource estimate is mirrored within the reporting of the Mineral Useful resource as per the rules of the 2012 JORC Code. The remaining Measured, Indicated, and Inferred materials from the NW and SW area have been thought of within the mineral useful resource. The estimate is domained by recognized pegmatite quantity and zoned by mineralised and un-mineralised subtypes utilizing 0.3% lithia and Na2O Estimates are thus native by area. The identical geological mannequin and wireframes are used for grade management and mine planning in Dassault/Surpac Software program. Regularized translations of the unique Datamine Studio mannequin are utilized in Dassault/Surpac re-blocked to five x 5 x 6.25m for brief time period mine planning and month-to-month reconciliations. Reconciliation is inside tolerance for an “Indicated” useful resource. Sources are at 30 June, 2023, depleted for energetic mining. Month-to-month reconciliation is normal apply. Mineral assets reconcile with tolerances anticipated for “Indicated Sources”.

Part 4: Ore Reserves

Standards	JORC Code clarification	Commentary
Mineral Useful resource estimate for conversion to Ore Reserves	Description of the Mineral Useful resource estimate used as a foundation for the conversion to an Ore Reserve.	The Mineral Useful resource estimate (MRE) used was ready by Mining Plus Pty Ltd beneath the course of Allkem and labeled in accordance with the JORC 2012 pointers. The MRE was natively ready in Datamine software program with a file date of 31 December 2022, and a abstract was launched to the ASX on 17 April 2023. The MRE was remodeled right into a diluted, regularised, mining mannequin inclusive of mining restoration, by Orelogy Mine Consulting. Reconciliation between the 2 fashions was thought of acceptable, and the inbuilt dilution and mining restoration replicate the historic values of 17% dilution and 94% mining restoration which had been derived from website mannequin to course of plant reconciliations.
	Clear assertion as as to if the Mineral Sources are reported further to, or inclusive of, the Ore Reserves.	The Mineral Sources are reported inclusive of the Ore Reserves.
Website visits	Touch upon any website visits undertaken by the Competent Particular person and the end result of these visits. If no website visits have been undertaken point out why that is the case.	The Competent Particular person has undertaken a website go to inside the present reporting interval.
Examine standing	The sort and stage of examine undertaken to allow Mineral Sources to be transformed to Ore Reserves. The Code requires {that a} examine to not less than Pre-Feasibility Examine stage has been undertaken to transform Mineral Sources to Ore Reserves. Such research could have been carried out and could have decided a mine plan that’s technically achievable and economically viable, and that materials Modifying Components have been thought of.	Mt Cattlin is a mature working mine and a Feasibility Examine (FS) investigating the continuation of present operations is the idea of the conversion of the MRE to an ORE. The FS has addressed all materials Modifying Components required for the conversion of Mineral Sources to Ore Reserves and has proven that the mine plan is technically achievable and economically viable. The place attainable and acceptable, the FS has used parameters according to the present operations.
Lower-off parameters	The premise of the cut-off grade(s) or high quality parameters utilized.	A marginal cut-off grade of 0.3% Li2O has been used for reporting the ORE. The financial cut-off grade calculation is roughly 0.2% Li2O, however the extra conservative cut-off grade was adopted primarily based on historic working expertise as an approximation of the sensible course of plant restoration constraint.
Mining elements or assumptions	The tactic and assumptions used as reported within the Pre-Feasibility or Feasibility Examine to transform the Mineral Useful resource to an Ore Reserve (i.e., both by utility of acceptable elements by optimisation or by preliminary or detailed design).	An optimisation of the MRE was undertaken with Basic Mine Planning (GMP) software program, each Geovia and Datamine merchandise. Comparisons between the outputs confirmed them to be materially equal. The addition to the particular modifying elements described within the sub-sections under, the optimisation information stock and enter parameters included: Regularised mining mannequin created from the MRE that included dilution and mining restoration Surveyed floor topography offered from Mt Cattlin as at 01/07/23 Contract mining prices from a aggressive tender course of Closure prices from the positioning Mine Closure Plan price estimate Spodumene focus (SC5.4) income value of US$1,500/t inclusive of delivery and advertising prices Tantalite focus income from present gross sales contract State Authorities and third-party royalties Processing, Basic & Administration, focus floor haulage, and port prices from present website budgets and forecasts (primarily based on precise information) Web Current Worth (NPV) discounting charge of 10% The place equipped by Allkem, these enter parameters had been reviewed by Entech and thought of acceptable for the present spodumene focus market. The staged pit design and schedule is taken into account appropriate for Ore Reserve estimation.
	The selection, nature and appropriateness of the chosen mining technique(s) and different mining parameters together with related design points reminiscent of pre-strip, entry, and so forth.	The ORE contains the Stage 4 North-West (NW) pit which is a down dip extension of the present Stage 3 NW pit i.e., deepening of present ground, and reducing again of the present pit rim. The mining methodology is a continuation of the traditional onerous rock open lower practices of the present operations with steady drill, blast and excavate cycles (with ore grade management as required). The present operations present entry to the operations of the ORE.
	The assumptions made concerning geotechnical parameters (e.g., pit slopes, stope sizes, and so forth), grade management and pre-production drilling.	A complete geotechnical examine acceptable for an FS stage was undertaken by Entech to find out the pit design parameters used within the ORE. Three devoted geotechnical diamond drill holes, totalling 651 m, situated within the neighborhood of the ultimate pit partitions had been drilled, logged, sampled and laboratory examined to gather detailed geotechnical information. As well as, photogrammetric modelling of the present pit partitions, construction digitisation, in-pit mapping and information from earlier research was utilised to characterise the rock mass and supply enter information for stability evaluation that had been used to derive the really helpful design parameters. 97% of the rock inside the pit containing the ORE is competent recent (unweathered) materials, and key design parameters derived for recent rock had been: 20 m bench peak 70 ^o bench face angle 8.5 m broad spill berm 52 ^o inter-ramp angle 12 m broad geotechnical berm each approx. 100 m of excessive wall face Pit designs had been reviewed by Entech’s Principal Geotechnical Engineer to make sure compliance with geotechnical intent. Along side the Mineral Useful resource and grade management predictive computerised block fashions, established website grade management process utilises visible inspection of blast gap cuttings and pit-floor visible geological management when mining ore (“ore recognizing”). The mixture of strategies permits identification and segregation of barren pegmatite or pegmatite containing positive grained spodumene, from pegmatite containing coarse grained spodumene (ore). Particular grade management drilling campaigns (RC method) are utilized in areas of upper structural or mineralogical uncertainty. Mt Cattlin is an working mine with present manufacturing and excavation information. The useful resource drilling that defines the Stage 4 growth is +95% Reverse Circulation (RC), and predominantly spaced at 40 m x 40 m.
	The foremost assumptions made, and Mineral Useful resource mannequin used for pit and stope optimisation (if acceptable).	The underlying Mineral Useful resource mannequin was collectively developed by impartial advisor Mining Plus Pty Ltd and Allkem Ltd (see ASX launch 17 April 2023). A dilution examine was then carried out by advisor Orelogy Mine Consulting (Orelogy) to find out the suitable methodology to create a diluted, regularised Mining Mannequin that may very well be readily utilized in GMP software program. The important thing steps and outcomes from the dilution examine and modifications to create the Mining Mannequin had been: Regularising the block dimension into Selective Mining Unit (SMU) dimensions of 5.0 m x 5.0 m x 2.5 m (East, North, Elevation). The SMU dimension was chosen primarily based on the scale of the tools, the mum or dad and sub cell block sizes within the useful resource mannequin and matched the prevailing mining bench peak to the vertical dimensions of the block. The ore blocks had been flagged as both “Clear” (uncontaminated with mining dilution) or “Contaminated” (contaminated with basalt nation rock and requiring beneficiation by optical sorting previous to being processed) ore varieties relying upon the proportion of fresh ore inside the SMU block. The general mannequin stories 82% of the ore to the Clear class and 18% to the Contaminated class.
	The mining dilution elements used.	No exterior dilution elements have been utilized. The Mining Mannequin described above in comparison with the supply undiluted mannequin has a back-calculated dilution of 16%.
	The mining restoration elements used.	No exterior mining restoration elements have been utilized. The Mining Mannequin described above in comparison with the supply undiluted mannequin has a back-calculated ore lack of 5.7%.
	Any minimal mining widths used.	A minimal mining width of 40 m has been utilized within the pit designs.
	The way wherein Inferred Mineral Sources are utilised in mining research and the sensitivity of the end result to their inclusion.	Inferred Mineral Sources comprise 12% of the MRE and had been used to tell the optimisation. The designed pit stock has 0.5% of Inferred Mineral Useful resource which has been handled as waste for the financial evaluation. The design of the pit shouldn’t be delicate to the inclusion, or not, of Inferred Mineral Useful resource.
	The infrastructure necessities of the chosen mining strategies.	The ORE as an extension of present operations, and the present website infrastructure is appropriate for proposed mining strategies.
Metallurgical elements or assumptions	The metallurgical course of proposed and the appropriateness of that course of to the fashion of mineralisation.	Ore is processed by the prevailing crushing, screening, ore sorting, and heavy media separation (HMS) plant with a nominal and permitted capability of 1.8 Mt each year. The Mt Cattlin plant has been in operation for over a decade and is appropriate for this fashion of mineralisation.
	Whether or not the metallurgical course of is well-tested know-how or novel in nature.	The Mt Cattlin plant is comprised of properly examined know-how and suited to the manufacturing of saleable spodumene focus. A number of ancillary circuits have been added over the lifetime of the plant together with optical ore sorters and fines restoration to incrementally improve mission economics. All of the processing know-how has been in use on this or different configurations for quite a few to a few years and will not be considered novel.
	The character, quantity and representativeness of metallurgical check work undertaken, the character of the metallurgical domaining utilized and the corresponding metallurgical restoration elements utilized.	As an working processing facility, the Mt Cattlin plant has amassed important information and experience within the therapy of the Mt Cattlin ores. Positive grained spodumene recovers poorly within the Mt Cattlin processing plant. The underlying MRE mannequin has explicitly domained the fine-grained materials and excluded it from the brand new in-situ MRE stock. Confirmatory metallurgical check work on ore within the Stage 4 extension is in progress. A regression method developed from historic working efficiency that makes use of head grade to foretell plant restoration, for a given grade of focus, is in day by day use at Mt Cattlin. The Feasibility Examine has used this algorithm to calculate metallurgical restoration within the financial evaluation.
	Any assumptions or allowances made for deleterious parts.	Allowances have been made for iron oxide (Fe2O) content material of the spodumene focus. The (potential) penalty aspect is estimated within the MRE, reported within the ORE, monitored throughout processing, and quantified within the ultimate spodumene focus product. Income pricing used within the cashflow mannequin incorporates seemingly penalty fees.
	The existence of any bulk pattern or pilot scale check work and the diploma to which such samples are thought of consultant of the orebody as a complete.	The ORE is a continuation of the ore zones which have been efficiently mined and processed at Mt Cattlin. Bulk samples and/or pilot scale testing shouldn’t be required because of the demonstrated course of flowsheet efficiency.
	For minerals which might be outlined by a specification, has the ore reserve estimation been primarily based on the suitable mineralogy to fulfill the specs?	The Ore Reserves have been primarily based on lithia (Li2O), Tantalite (Ta2O5), and iron oxide (Fe2O) grade ranges which might be acceptable to present gross sales contracts and readily saleable into the worldwide market.
Environmental	The standing of research of potential environmental impacts of the mining and processing operation. Particulars of waste rock characterisation and the consideration of potential websites, standing of design choices thought of and, the place relevant, the standing of approvals for course of residue storage and waste dumps must be reported.	The Mt Cattlin mine website is an working and mature operation with well-understood impacts and established environmental administration techniques and functionality. The location working procedures are according to the ideas of ISO 14001:2015 Environmental Administration Programs. Key potential danger areas embody noise, vibration and air emissions/high quality are regulated, and have particular administration plans to make sure compliance. Waste rock and processing tails saved on website are labeled as Non-Acid Forming (NAF) and chemically benign. The waste rock is predominantly unweathered (recent), competent, basalt and andesites which kind secure and erosion resistant landforms. Mt Cattlin pegmatite tailings are a rough, sandy, materials that drains readily and reveals glorious stability on placement. The Heavy Media Separation course of used to provide spodumene focus doesn’t introduce chemical substances into the tailings stream. A 2023 Mining Proposal for pit and waste dump growth required for a part of this ORE has been submitted to the WA regulator, with approval anticipated within the third quarter of 2023. Additional approvals can be required in the course of the lifetime of this ORE, doubtlessly together with pit and waste dumping space will increase and a brand new In-Pit Tailings Storage Facility. There isn’t a motive to anticipate that every one required approvals can’t be gained in enough time to permit the exploitation of this ORE as deliberate.
Infrastructure	The existence of acceptable infrastructure: availability of land for plant improvement, energy, water, transportation (significantly for bulk commodities), labour, lodging; or the convenience with which the infrastructure could be offered, or accessed.	The Mt Cattlin mine website is a mature working mine. All mining, processing, energy and water provides, highway and port infrastructure are in place and operational. Lodging is predicated close to website for a blended commute and residential workforce. The operation has entry to a close-by regional bituminised airstrip able to touchdown 100-seat jets. Sealed roads hyperlink the positioning to Perth, and main regional cities.
Prices	The derivation of, or assumptions made, concerning projected capital prices within the examine.	The FS has assessed and included acceptable capital prices. As an present operation the capital required for the working lifetime of the ORE shouldn’t be important.
	The methodology used to estimate working prices.	The working prices have been derived two sources: contract mining prices – aggressive market tender all different working prices – from evaluation of the positioning FY24 forecast (which is derived from precise historic prices and present contracts)
	Allowances made for the content material of deleterious parts.	The income costs used within the financial evaluation have included all relevant penalty fees as modelled, together with deductions for product grade lower than the benchmark 6.0% spodumene grade (SC6), and for any iron oxide content material above limits. The costs will not be materials within the total pricing.
	The supply of change charges used within the examine.	The change charge of consequence is Australian to United States of America (USD:AUD) foreign money change charge as spodumene product is bought in US {dollars} (USD). As an present Western Australian primarily based operation, most prices are in denominated in AUD. A flat 0.70 USD:AUD change charge was used within the cashflow modelling that was offered by Allkem.
	Derivation of transportation fees.	Product transportation and dealing with fees (highway haulage from Mt Cattlin to Esperance port, and Esperance port prices) had been offered by Allkem and had been derived from present contracts. The product income value used was discounted to be web of sea freight.
	The premise for forecasting or supply of therapy and refining fees, penalties for failure to fulfill specification, and so forth.	The headline exterior pricing forecasts for spodumene focus grading 6.0 % Li ₂ O had been discounted for anticipated product grades of between 5.2% Li ₂ O and 5.5% Li ₂ O. The reductions had been derived from present contract penalty fees. Penalties had been additionally utilized to Fe2O3 exceedances in the event that they occurred.
	The allowances made for royalties payable, each Authorities and personal.	Promoting prices have allowed for a 5.0% ad-valorum Western Australian state royalty and $1.50/t of ore processed third celebration royalty.
Income elements	The derivation of, or assumptions made concerning income elements together with head grade, steel or commodity value(s) change charges, transportation and therapy fees, penalties, web smelter returns, and so forth.	The ORE head grade is reported by the GMP software program interrogating the diluted mining mannequin inside the designed pit. Regular good apply checks have been made on this course of, in addition to reporting by different GMP software program, and evaluating to comparable inner work by Allkem. The spodumene focus commodity value used within the cashflow mannequin is predicated on pricing by an exterior impartial market forecaster, with acceptable modifications for Mt Cattlin product specification. Allowances have been made for floor and sea freight fees primarily based on present website budgets and forecasts. The realised value (i.e., FOB; web of fees) forecast over the seemingly interval the product from this ORE can be bought into market has a mean of A$2,978/dmt and a median of A$2,963/dmt. Minor income is derived from the sale of a by-product Tantalite focus and the sale value used is predicated on present contracts which common roughly A$35/ dry lb. Transport fees are derived from present contracts, and likewise penalty fees are taken from present gross sales contracts.
Income elements	The derivation of assumptions fabricated from steel or commodity value(s), for the principal metals, minerals and co-products.	As described above, the commodity value assumptions have been taken from impartial market analysts and present contracts and are deemed acceptable.
Market evaluation	The demand, provide and inventory scenario for the actual commodity, consumption traits and elements more likely to have an effect on provide and demand into the longer term.	An Unbiased market researcher (business in confidence) forecasts for demand, provide, and inventory ranges in the course of the seemingly market window of the product of this ORE have been used to characterise the worldwide marketplace for spodumene focus. The demand for spodumene focus is primarily pushed by automotive batteries, and the underlying robust international development in electrical automobiles. From excessive deficit in provide over the previous two years that has seen steep value development and incentive for brand spanking new provide, it’s forecast that the general market is shifting into surplus, with intermediate fluctuations, till the tip of the last decade, from the place it’ll once more retreat into deficit. The accuracy of those forecasts can be dominated by the accuracy of the assumptions quantifying the speed of development in mine provide, and the speed of development of EV gross sales.
	A buyer and competitor evaluation together with the identification of seemingly market home windows for the product.	The Mt Cattlin spodumene focus is presently bought by offtake agreements primarily to mainland Chinese language convertors. Offtake agreements have pricing situations reflecting spodumene market costs. Through the market window relevant to this ORE, the Mt Cattlin product strikes from being absolutely contracted, to a mixture of contract and spot market publicity, to completely obtainable for spot pricing. This mixture of contract vs. spot markets publicity is topic to steady evaluate and adjustment. Vital international provide chain diversification is underway which is seeing new lithium processing vegetation being developed in international locations apart from China, including diversification to the potential buyer base.
	Worth and quantity forecasts and the idea for these forecasts.	Total market provide and demand, together with buyer and competitor elements have been thought of within the compiling of the pricing forecast relevant to this ORE. The optimisation value chosen of US$1,500/t of spodumene focus was conservatively decrease than the common pricing forecast of the seemingly market window. The cashflow mannequin pricing used was primarily based on the present forecasts for the seemingly market window, modified for the specification of the Mt Cattlin product, as mentioned above within the Income Components part. It’s assumed that every one product produced is bought into present contracts and spot markets.
	For industrial minerals the client specification, testing and acceptance necessities previous to a provide contract.	Mt Cattlin concentrates are bought into typical worldwide specs, the extra related specs being Li ₂ O grade, Ta ₂ O ₅ grade (each income elements), and Fe ₂ O ₃ grade (a possible penalty issue). Mt Cattlin product doesn’t usually entice Fe penalties, and the lithia grade is forecast to vary between 5.5% Li ₂ O and 5.2% Li ₂ O relying on market evaluation. Buyer specification and acceptance of the product depend on a typical technique of samples taken by an impartial company and conformance of the assays obtained by each the vendor and purchaser to an allowable vary of variance.
Financial	The inputs to the financial evaluation to provide the web current worth (NPV) within the examine, the supply and confidence of those financial inputs together with estimated inflation, low cost charge, and so forth.	The cashflow mannequin is uninflated and applies a ten% low cost charge to calculate the mission NPV, which was robustly constructive. Mining prices had been derived by a aggressive market tender course of primarily based on a designed and scheduled pit, and present website infrastructure. Processing, Basic & Administration, product haulage, port, and delivery prices replicate company forecasts primarily based on historic website precise information modified for Allkem’s view on FY24 market situations. As an ongoing operation, capital prices had been comparatively minor however included an allowance for creating a brand new In-Pit Tailings Storage Facility (IPTSF) in the course of the lifetime of mine, buffering land purchases, in addition to ongoing sustaining capital. An finish of mine allowance of $17.5 M has been included into the financial evaluation. The general price base assumptions and evaluation methodology are thought of acceptable, sturdy and at FS stage of accuracy.
Financial	NPV ranges and sensitivity to variations within the important assumptions and inputs.	The cashflow mannequin has been examined for sensitivity to key financial assumptions. As is usually discovered, the income assumptions (e.g., sale value, USD:AUD change charge, head grade, plant restoration) have a a lot larger affect than price assumptions (e.g., working prices, capital prices). At 20% particular person variances to any of those variables the mission stays robustly financial over lifetime of mine and generates constructive cashflows. Stripping Ratio is mostly a proxy for danger, and the person levels of the general mission (as presently evaluated) have fairly completely different stripping ratios than the general mission common. The NPV sensitivity to key variables is subsequently considerably completely different if analysed by stage. If probably the most delicate stage (Stage 4-1) is assessed by probably the most influential variable (Income) on the most adverse worth (-20%), the cashflow is weakly constructive while the NPV falls to zero. The next stage (Stage 4-2) and the sum of the 2 levels (Stage 4-1 + Stage 4-2) stay with strongly constructive cashflows and NPV’s when Income is examined at -20%.
Social	The standing of agreements with key stakeholders and issues resulting in social licence to function.	As an working website Mt Cattlin has a well-established and carried out Environmental Administration Plan and suite of working procedures according to the ideas of ISO 14001:2015 Environmental Administration Programs and contains, however shouldn’t be restricted to: Environmental Coverage Necessities of approvals, permits and licences Environmental duties of website personnel Website induction programmes Environmental monitoring and reporting necessities Inspection and audit course of Non-conformance, corrective motion, and danger administration of incidents Preparation of procedures and work directions addressing recognized parts reminiscent of dewatering, saline spillage, waste administration and bioremediation Stakeholder session, together with: Common replace conferences with Shire of Ravensthorpe and Ravensthorpe Enterprise Affiliation Ongoing session with native neighbours Ongoing session with Conventional Proprietor teams and displays on the Southwest Aboriginal Land and Sea Council working celebration conferences Appointment of an Environmental and Neighborhood Liaison Officer Biannual displays to the Ravensthorpe neighborhood Institution of the Mt Cattlin Neighborhood Session Group in 2018 with members consisting of revered leaders of the neighborhood and Mt Cattlin senior administration. Minutes of conferences and displays are made publicly obtainable through https://www.mtcattlin.com.au/ccg/ Allkem have suggested the Competent Individual that there are not any present points that may be anticipated to hazard the ‘social licence to function’.
Different	To the extent related, the affect of the next on the mission and/or on the estimation and classification of the Ore Reserves:	Commentary under.
	Any recognized materials naturally occurring dangers.	The FS has investigated the potential for flooding through a hydrology examine which knowledgeable the design of the abandonment bund and the Cattlin Creek diversion channel and related bunding. No residual points had been obvious. The TSF design has included evaluation of efficiency beneath seismic situations, which was discovered to be acceptable. The lifetime of the ORE at lower than 5 years is taken into account too brief to be significant affected by long run local weather change. Brief time period variability within the type of floods or droughts is unlikely to materially have an effect on the operation. The location continued working by the current international pandemic.
	The standing of fabric authorized agreements and advertising preparations.	All materials authorized and advertising agreements are in place and accounted for.
	The standing of governmental agreements and approvals important to the viability of the mission, reminiscent of mineral tenement standing, and authorities and statutory approvals. There should be cheap grounds to anticipate that every one essential Authorities approvals can be acquired inside the timeframes anticipated within the Pre-Feasibility or Feasibility examine. Spotlight and talk about the materiality of any unresolved matter that’s depending on a 3rd celebration on which extraction of the reserve is contingent.	The ORE said are situated on energetic mining leases, in good standing. All required permits for the present Stage 3 works, which represents roughly 40% of this ORE, are authorised and are in place. A Mining Proposal that describes the primary part of the Stage 4 growth has been submitted to the WA Regulator for approval, which is predicted in August 2023. Along with the standard technical and regulatory compliance evaluation that defines Mining Proposal evaluation, a tenement standing conversion from an Exploration Licence (E) to a Basic Objective Licence (G) is required to allow waste dumping as a permitted exercise, and the Mining Proposal to be subsequently authorised. The E is held by Allkem and is in good standing, and the conversion to a G is predicted to occur in Could 2023 as per normal process within the timeframe estimated for total Mining Proposal approval. Publish receipt of the Mining Proposal approval described above, subsequent allowing purposes will then be made for the second part of the Stage 4 growth, together with the subsequent In-Pit Tailings Storage Facility (IPTSF). The second part approvals are anticipated to be gained by the tip of the primary quarter of 2024, permitting enough time, together with contingency, earlier than the deliberate works are required to start.
Classification	The premise for the classification of the Ore Reserves into various confidence classes.	The Mineral Sources above an in-situ financial cut-off grade inside the designed open pit and under the surveyed topography surfaces (as of 31 March 2023) have been modified by the applying of appropriate modifying elements and has been labeled Possible, primarily based on the Measured or Indicated classification of the Mineral Useful resource estimate. The floor stockpiles are labeled as Possible Ore Reserves to simplify reporting. Some shares reminiscent of ROM ore would usually qualify as Proved, however the downgrading shouldn’t be materials to the ORE. The extent of labor undertaken by the FS is taken into account enough for the classification of Proved and Possible Ore Reserves.
	Whether or not the consequence appropriately displays the Competent Particular person’s view of the deposit.	Mr. Daniel Donald, the Competent Particular person for this Ore Reserve estimation, has reviewed the work undertaken thus far and considers that it’s sufficiently detailed and related to permit declaration of those Ore Reserves.
	The proportion of Possible Ore Reserves which have been derived from Measured Mineral Sources (if any).	As described above, all floor shares have been labeled as Possible when it could have been attainable to categorise some as Proved. Any potential upgrading would haven’t any materials impact on the ORE.
Audits or opinions	The outcomes of any audits or opinions of Ore Reserve estimates.	The Ore Reserve has been estimated by impartial consultants Entech Pty Ltd with help from Allkem and Strategic Metallurgy with the MRE, mining mannequin, and processing areas respectively. Entech have undertaken inner peer evaluate in the course of the course of.
Dialogue of relative accuracy/ confidence	The place acceptable an announcement of the relative accuracy and confidence stage within the Ore Reserve estimate utilizing an method or process deemed acceptable by the Competent Particular person. For instance, the applying of statistical or geostatistical procedures to quantify the relative accuracy of the reserve inside said confidence limits, or, if such an method shouldn’t be deemed acceptable, a qualitative dialogue of the elements which may have an effect on the relative accuracy and confidence of the estimate.	The Competent Particular person deems that the methodology utilized to reach on the Ore Reserve estimate for Mt Cattlin is suitable and defendable. The general accuracy of the price estimate used within the ORE is taken into account to be ±15%. The fee estimates have been derived from aggressive market tender for mining prices, and precise website working information for processing and Basic and Administration (G&A) prices, so the worldwide accuracy is taken into account sturdy. The present South-East In-Pit Tailings Storage Facility (SE IPTSF) capability can be reached by the second-half 2024, and deposition will swap to the close by NE IPTSF, which could have capability for the rest of the lifetime of mine. The detailed design, costing and allowing of the NE IPTSF has not but been finalised. While the NE IPTSF capital expenditure (capex) is immaterial within the total mission cashflow, the estimation has been conservatively calculated and is at a PFS, moderately than FS-level of accuracy. There isn’t a motive to anticipate that allowing approvals is not going to be gained for the proposed NE IPTSF when utilized for. The Possible ore stockpiles embody 900 kt @ 0.8% Li ₂ O of tailings from early mission life which might be deliberate to be retreated at mine closure. The financial evaluation check has used conservative steel restoration (30%) and product grade specs (4.5% Li ₂ O) indicated from metallurgical check work thus far. Check work is constant and flowsheet improvement can be underway however presently the extent of accuracy is PFS moderately than FS. The contribution of the tailings retreatment at mine closure shouldn’t be thought of materials to the general mission.
	The assertion ought to specify whether or not it pertains to international or native estimates, and, if native, state the related tonnages, which must be related to technical and financial analysis. Documentation ought to embody assumptions made and the procedures used.	The assertion pertains to international estimates of a mine scale.
	Accuracy and confidence discussions ought to prolong to particular discussions of any utilized Modifying Components which will have a cloth affect on Ore Reserve viability, or for which there are remaining areas of uncertainty on the present examine stage.	Confidence within the utility of the modifying elements is suitable for the estimate. Traditionally disproportionate quantities of fine-grained ore within the ROM feed negatively affected plant restoration within the second half of 2022. This has since been recognized within the Mineral Useful resource and domained out of the brand new MRE which underpins this ORE.
	It’s recognised that this will not be attainable or acceptable in all circumstances. These statements of relative accuracy and confidence of the estimate must be in contrast with manufacturing information, the place obtainable.	The contract mining price information which was derived from aggressive market tender has additionally been in comparison with precise website manufacturing information. All different working price information is instantly derived from precise manufacturing information. In abstract, the price information used compares very properly with manufacturing information and incorporates the inflationary/pandemic results seen over the earlier a number of years. Processing plant throughput and restoration information has been derived instantly from manufacturing information, and subsequently evaluate very properly. The mining mannequin used to judge the ORE incorporates regularised blocks at SMU dimension, and mining dilution and mining restoration derived from precise manufacturing information and plant reconciliations. This new mining mannequin has solely been utilized in three month-end reconciliation at this cut-off date. The brand new mannequin is predicted to proceed to reconcile properly because of the technical enhancements described above.

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