Announcement PDF ASX ANNOUNCEMENT 7 May 2025 Lake Resources Announces Exploration of Strategic Alternatives Lake Resources N.L. (ASX: LKE; OTC: LLKKF) (“Lake” or the “Company”), a responsible lithium developer, announced today that its Board of Directors will form a Special Committee composed of all members of the Board of Directors to evaluate a full range of strategic alternatives aimed at maximising value for all stakeholders in the Company. Lake’s tier one flagship Kachi Lithium Brine Project (“Kachi”) in Argentina is significantly progressed and ranks as one of the largest lithium assets in the Lithium Triangle. Highlights of Kachi include:  Largest independent development 1 project across the Lithium Triangle with Phase One plant capacity of 25ktpa 2 of battery grade lithium carbonate and potential for expansion  Total resource exceeds 10.6 million tonnes of lithium carbonate equivalent 3  Completed Phase One Definitive Feasibility Study in December 2023 with demonstration plant achieving 99.9% impurity rejection and 80% lithium recovery 4  Kachi is near shovel ready with the Exploitation Environmental Impact Assessment well advanced with approvals expected mid-2025 The decision to pursue a review of strategic alternatives is driven by the Company’s view that Kachi’s intrinsic value and strategic significance is materially undervalued by the market. The decision is also supported by recent announcements from companies with Argentine lithium projects receiving proposals that far exceed their current market capitalisations. “While lithium prices are currently depressed and weighing on company valuations across the sector, the long-term fundamentals for lithium remain robust with 17% per annum demand growth through 2030 5. As the largest independent lithium development project in Argentina, Kachi will play an important role in supplying battery-grade lithium carbonate to the automotive and energy storage sectors.” said Lake’s Chairman, Stu Crow. “We have observed recent examples where strategic buyers have ascribed values to Argentine lithium projects that far exceed public market valuations,” Mr. Crow continued. “We believe this dynamic is true for Kachi and Lake’s current share price. The Special Committee will be focused on addressing this discrepancy and closing the potential value gap through the strategic review we are announcing today.” The Special Committee will consider and assess a range of potential strategic alternatives, which may include, but are not limited to, a potential sale of all or a part of Lake’s interest in Kachi, a potential sale or merger of the Company, restructuring initiatives, or partnership or joint venture structures. Kachi is the largest lithium development in the Lithium Triangle owned by a non-major lithium developer 2 Tonnes per annum 3 See Table 1 for breakdown of Mineral Resources into individual categories 4 Refer to ASX announcement dated 19 December 2023 (“Kachi Phase One Definitive Feasibility Study”) 5 Goldman Sachs Global Investment Research April 2025 1 Goldman Sachs has been retained as financial advisor with respect to potential transactions relating to Kachi. 6 Multiple parties continue to be engaged in the Goldman Sachs-led process. There can be no assurance that this strategic alternatives review will result in any transaction. Table 1 Resource Statement 6 Refer to ASX announcement dated 29 November 2023 Company Contact: InvestorRelations@lakeresources.com.au Media Contact: Katherine Kim, Teneo M: +61 2 9063 5119 E: Katherine.Kim@teneo.com About Lake Resources N.L. (ASX: LKE OTC: LLKKF) Lake Resources N.L. (ASX: LKE, OTC: LLKKF) is a responsible lithium developer utilising state of-the-art ion exchange extraction technology for production of sustainable, high purity lithium from its flagship Kachi Project in Catamarca Province within the Lithium Triangle in Argentina. This ion exchange extraction technology delivers a solution for two rising demands – high purity battery materials to avoid performance issues, and more sustainable, responsibly sourced materials with low carbon footprint and significant ESG benefits. Forward Looking Statements: Certain statements contained in this announcement, including information as to the future financial performance of the projects and the Company, are forward-looking statements. Such forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Lake Resources N.L. are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies; involve known and unknown risks and uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results, expressed or implied, reflected in such forward-looking statements; and may include, among other things, statements regarding targets, estimates and assumptions in respect of production and prices, operating costs and results, capital expenditures, reserves and resources and anticipated flow rates, and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions and affected by the risk of further changes in government regulations, policies or legislation and that further funding may be required, but unavailable, for the ongoing development of Lake’s projects. Lake Resources N.L. disclaims any intent or obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. The words “believe”, “expect”, “anticipate”, “indicate”, “contemplate”, “target”, “plan”, “intends”, “continue”, “budget”, “estimate”, “may”, “will”, “schedule” and similar expressions identify forward-looking statements. All forward-looking statements made in this announcement are qualified by the foregoing cautionary statements. Investors are cautioned that forward-looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. Lake does not undertake to update any forward-looking information, except in accordance with applicable securities laws.