HIGH-GRADE SPODUMENE AND OFFTAKE SALES ▪ Bulk sampling of the high-grade spodumene material at Blesberg has been independently tested on multiple occasions and by numerous parties throughout 2023 and 2024 ▪ metallurgical process and flotation testwork on the high-grade spodumene from Blesberg has further been undertaken in South Africa and Europe ▪ independent assay reports have consistently confirmed high-grade results of between 5.81% and 6.50% Li2O for spodumene product tested in the stockpiles ▪ results from the metallurgical testwork have confirmed the economic viability of the proposed expanded processing operations at Blesberg and the yields to be achieved. ▪ In March 2024, wholly owned South African subsidiary South African Lithium and Tantalum Mining (Pty) Limited signed a long-term offtake agreement with United Kingdom based, global metals, minerals and energy commodities trading group Fujax UK Ltd for spodumene ore and concentrate from the Blesberg Lithium and Tantalum Mine. ▪ the agreement is based on the sale and purchase of 100% of Blesberg's production of spodumene ore and concentrate to Fujax through to 31 December 2026 ▪ minimum deliveries of 5.50% Li 2O to be delivered during this period ▪ option to extend by a further three years 37
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