Announcement PDF March 2026 ASX: LKE; OTC: LLKKF lakeresources.com.au Investor Presentation Presenter: David Dickson MD/CEO Disclaimers General Statement and Cautionary Statement This presentation has been prepared by Lake Resources N.L. (Lake) for information purposes and not any particular party. The information in this presentation is based upon public information and internally developed data and reflects prevailing conditions and views as of this date, all of which are accordingly subject to change. The information contained in this presentation is of general nature and is not intended to address the circumstances of any particular individual or entity. There is no guarantee that the information is accurate as of the date it is received or that it will continue to be accurate in the future. No warranties or representations can be made as to the origin, validity, accuracy, completeness, currency or reliability of the information. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. Lake Resources NL accepts no responsibility or liability to any party in connection with this information or views and Lake disclaims and excludes all liability (to the extent permitted by law) for losses, claims, damages, demands, costs and expenses of whatever nature arising in any way out of or in connection with the information, its accuracy, completeness or by reason of reliance by any person on any of it. The information regarding projects described in this presentation are based on exploration targets, apart from the Kachi project’s resource statement. The potential quantity and grade of an exploration target is conceptual in nature, with insufficient exploration to determine a mineral resource and there is no certainty that further exploration work will result in the determination of mineral resources or that potentially economic quantities of lithium will be discovered. Forward Looking Statements Certain statements contained in this presentation, including information as to the future financial performance of the projects, 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. Compliance Statement The information contained in this presentation relating to financial forecasts, production targets, exploration targets, exploration results, Measured, Indicated and Inferred resource estimates, project execution, infrastructure and testing work, has been derived from the information in Lake’s Kachi Project Phase One Definitive Feasibility Update Study Results (“DFS Addendum”) and Lake’s Updated Ore Reserve Statement (“Ore Reserve Update”) both announced on ASX on 4 August 2025 and mineral resource update announced on ASX on 3 June 2025. Lake confirms that it is not aware of any information that materially affects the information included in the DFS Addendum or the Ore Reserve Update both announced on ASX on 4 August 2025 and mineral resource update announced on ASX on 3 June 2025 and all material assumptions contained in those announcements continue to apply and have not materially changed, including all material assumptions underpinning the production targets or forecast information derived from production target, and all technical parameters underpinning the estimates of mineral resource and ore reserves. On this basis, Lake confirms that the findings of Mr. Andrew Fulton, the Competent Person, in the DFS Addendum and the Ore Reserve Update both announced on ASX on 4 August 2025 and, in respect of Lake’s mineral resource, in the mineral resource update announced on 3 June 2025,have not changed nor been modified in any material respects since those announcements. Agenda 3 1. Corporate Overview 2. Kachi Update 3. Market Update 4. Looking Ahead 5. Appendix Corporate Overview Lake Resources Leadership Strong commitment to responsible lithium development  Experienced leadership strongly aligned to shareholder value creation  Strong relationships with the government of Argentina and Catamarca  Experienced, well-credentialed and highly motivated leadership team ready to deliver on Lake’s strategy and accelerate the Company’s next phase of Kachi development Actively pursuing clear strategy with significant upside  STUART CROW Non-Executive Chairman • 40+ years in corporate finance, investor relations, and critical minerals, with strong track record raising capital for emerging listed companies • Board-level experience across global resource companies, including Atlantic Lithium, Pulsar Helium, and Ricca Resources • Active mining investor and entrepreneur, with international experience across Australia, Africa, North and South America DAVID DICKSON Managing Director / CEO • CEO of Lake since 2022, with 30+ years in engineering, EPC, and energy project delivery across global resource and infrastructure sectors • Former CEO of McDermott International, where he led multi-billion-dollar projects and grew the company to 30,000+ employees across 50+ countries; previously President of Technip USA • Energy transition and hydrogen sector leader, serving with the World Hydrogen Council, Quantum Energy Partners Advisory Board, and other industry and safety organizations ROBERT TRZEBSKI Non-Executive Director • 35+ years global mining executive experience, spanning exploration, project development, technology innovation, and strategic advisory • Former senior roles with Rio Tinto, WMC, Inco, Falconbridge, Schlumberger and Phelps Dodge, with extensive international experience including Argentina; currently Director International Business at Austmine • Non-Executive Director of Lake Resources since 2019, Board member of Austral Gold; PhD-qualified geophysicist and Fellow of AusIMM Board of Directors 5 Lake Share Price Performance 6 Significant share price outperformance over the past 12 months driven by stronger lithium market and project progress Capital Structure Share Price A$ 0.083 Basic Shares 2,278M Fully Dilutes Shares Outstanding 2,424M Market Capitalization (undiluted) A$ 189M Market Capitalization (fully diluted) A$ 201M Cash1 A$ 15.8M Debt Nil 9.7% 89.7% 0.6% Source: Company filings, FactSet market data as of 11 March 2026 1 Refer to ASX announcement dated 4 February 2026. Institutional Ownership Retail Ownership Insider Ownership Shareholder Structure Indexed Share Price Performance Since 01-Jan-2025 Environmental approvals obtained, extensive drilling program initiated, PEA/PFS completed, pilot program completed Notes: The Value Engineering Study is part of a DFS bridging study currently underway with Hatch Engineering. The overall DFS bridging study is nearly complete and a summary of which will be publicly released as soon as the overall study is complete, including completion of JORC tables and sign-off from the company’s competent person. 1 Refer to ASX announcement dated 25 July 2024. 2 Refer to ASX announcements dated 1 July 2024. 3 Refer to ASX announcement dated 26 March 2024. 4 Refer to ASX announcement dated 6 May 2024. 5Refer to ASX announcement dated 12 March 2024. 6 Refer to ASX announcement dated 23 April 2024. 8 Refer to ASX announcement dated 14 November 2024. 9 Refer to ASX announcement dated 14 May 2025. 10 Refer to ASX announcement dated August 4 2025. 11Refer to ASX announcement dated August 18 2025. Definitive Feasibility Study (DFS) Completed1 Initiated Strategic Partnering Process for Kachi2 Right-Sized Organization and Significantly Reduced Cash Burn2 Kachi Environmental Impact Assessment (EIA) Submitted for Approval3 Letter of Intent (LOI) Signed with YPF-Luz for Kachi Power Supply4 Raised Capital1,5,6 to Extend Financial Runway Sold Non-Core Brine Assets in Argentina8 Obtaining EIA Approval Completed Kachi Phase 1 DFS Addendum10 Kachi Milestones Corporate Milestones Future Milestones Announced JORC Update Increasing Total Resource to 11.1 Mt LCE9 Demonstrated Track Record of Strategic Execution 2026 + 2025 2024 2023 Completed YPF-Luz Power Supply FEED Advance Offtake and Strategic Partnership Process Evaluate FEED in Route to FID 2017 - 2022 Finalize Power Optimization Exercise Raised Capital to Extend Financial Runway11 7 Mineral Resource established and expanded, now ranked as one of the top lithium resources, globally Lake Resources Financial Highlights Q4 20251 8 Financial Position & Liquidity  Cash position of A$15.3M as of 31 December 2025 with zero debt  Pro-forma quarter-end liquidity of ~A$15.8M, including option exercises of ~A0.5M received post-quarter end Cost Management  45% reduction in 2025 cash expenditures vs. 2024, exceeding projections  Actively monitoring cash balance and minimizing outgoings Capital Allocation  Funds allocated to finalize Exploitation EIA, evaluate power options and advance strategic alternatives  Business right-sizing improves financial flexibility Outlook  Continue to evaluate opportunities for organizational right-sizing in CY 2026  Significant financial flexibility to provide capital for operational priorities including securing strategic partners and offtakers Strong Balance Sheet and Disciplined Capital Management 1 Refer to ASX announcement dated 4 February 2026. Kachi Update 1Kachi is owned 80% by Lake Resources and 20% by Lilac Solutions. 2Refer to ASX announcement 4 August 2025 – Kachi Project Definitive Feasibility Study Addendum. 3Refer to ASX announcement dated 4 August 2025 – Updated Lithium Ore Reserve. Kachi Overview 10 Kachi Project1 Highlights Location Catamarca Province, Argentina Project Stage  Phase 1 DFS completed in December 2023  Phase 1 DFS Addendum completed in August 2025  Exploitation EIA approval now expected in 2026 Products Battery Grade Lithium Carbonate (>99.5% purity) Resources2  11.1 Mt LCE — Measured and Indicated: 8.2 Mt LCE — Inferred: 2.9 Mt LCE  DFS Update Design basis: 249mg/L2 — Average brine concentration: 268mg/L3 Project Execution Approach  Phase 1 – 25 ktpa target plant capacity  Potential Phase 2 – construction of second plant with additional total capacity of 25 ktpa (including additional expansion in subsequent phases) Mine Life 25 years2 A world class global lithium asset in Argentina – the largest, independent development project across the lithium triangle with significant expansion potential Kachi project site between 2023 and 2024 during pilot program which has subsequently been completed. Major Milestones Achieved in 2025 11 De-Risking Kachi Through Strategic Advancement 1 Refer to ASX announcement dated 4 August 2025. 2 Refer to ASX announcement dated 3 June 2025. 3 Refer to ASX announcement 4 August 2025 – Updated Lithium Ore Reserve. 4 Refer to ASX announcement dated 2 July 2025. 5 Refer to ASX announcement dated 18 December 2025. FEED = Front End Engineering Design Completed Kachi Phase One DFS Addendum1 JORC Update Increased Total Resource To 11.1Mt LCE2 Completed Power Supply FEED4 Ore Reserve Statement Confirmed Lithium Grade Of 268 mg/L3 Continue To Engage With Offtake and Strategic Partners Achieved Key EIA Milestone Ramsar Site Zonification5 Kachi Phase One DFS Addendum 12 Transformational Project Improvements: Significantly Enhanced Economics & Operational Efficiencies1 US$ 1.16B Capex US$ 5,895/t Opex US$ 1.5B Pre-Tax NPV10 22.5% Pre-Tax IRR 249mg/L Plant Design Basis  8.2 Mt LCE Measured & Indicated resource (+12% vs. Original DFS)  11.1 Mt LCE Total Resource (+5% vs. Original DFS)  ~22% reduction in well count (vs. Original DFS)  15-20% reduction in plant footprint (vs. Original DFS)  Completion of FEED marks achievement of critical de- risking milestone for grid power  Lilac Gen 4 IX technology improvements • ~90% recovery rate (+13% vs. Original DFS) • 50% reduction in number of DLE modules • 39% lower DLE Capex and 40% lower DLE Opex • Greater throughput and longer IX media cycle  Further Capex and Opex reduction possible due to improved brine concentration of 268 mg/L and Lilac Gen5 Ion Exchange technology2 Resource Excellence & De-risking Technology and Cost Optimization 1 Refer to ASX announcement dated 4 August 2025. 2Refer to Lilac announcement dated 28 October 2025. Gen 5 DLE ion exchange technology release  Delivers improvements in brine pre-treatment requirements, media productivity, cycle life, recovery rates and eluate quality  Simplifies flowsheets  Potentially reduces Kachi’s capital and operating costs Completed construction of Lilac’s commercial-scale ion exchange media (IXM) manufacturing line in Nevada, USA  To produce 200 tonnes of IXM per annum o Sufficient to support production of up to 100,000 tonnes of lithium carbonate equivalent per annum  Project leverages proven Gen 5 Lilac ion exchange technology which achieved 87% lithium recovery for 69 mg/L lithium concentration Lilac DLE Technology Update 13 Lilac continues to mark important achievements including unveiling its Gen 5 ion exchange DLE technology, completing construction of commercial scale manufacturing facility and signing a binding offtake agreement 1Refer to ASX announcement dated 30 October 2025. Released Gen 5 DLE ion exchange technology1 Completed construction of Lilac’s commercial-scale ion exchange media (IXM) manufacturing line in Nevada, USA Signed 10-year binding offtake agreement with Traxys NA for lithium carbonate at Lilac’s planned facility in Utah, USA Operational Update 14 Kachi continues to achieve key milestones on its path to becoming “shovel-ready” 1 Refer to ASX announcement dated 18 December 2025. 2Timing of final approval of the Exploitation EIA is controlled by the government of Catamarca. • Ramsar site zonification was formally approved1 • Carachi Pampa lagoon designated as Zone 3 (Z3), allowing for regulated productive use • Continued close coordination with Catamarca Ministries of Environmental and Mining • Estimated timeline for EIA final approval is 1H20262 • Continued engagement with YPF Luz on Northern Power- Line option • Ongoing effort to explore alternative power solutions Power Supply Exploitation Environmental Impact Assessment Kachi – Key Takeaways 15 1 Proven Ion-Exchange DLE Technology Increases Process Efficiency, Allows for Greater Cost Effectiveness and Reduces Environmental Footprint 2 3 Kachi Near Shovel-Ready, with Power FEED Completed and EIA Approval Imminent DFS Addendum Completed1 with Capex of US$1,157M and Opex of US$5,895/t 5 4 Phase One DFS Addendum Completed for World Class 25 ktpa Battery Grade Lithium Carbonate Project with Potential For Expansion Largest Independent Development Project Across the Lithium Triangle with Total Resource of 11.1 Mt LCE 1For 25ktpa plant. Market Update Lithium Market – 2026 Overview 17 In 2026, lithium prices have outperformed expectations. BESS demand upside, delayed supply response, China sentiment, CAM demand and feedstock tightness are the major drivers of higher lithium prices Key Drivers Robust Demand Frontloaded demand due to removal of VAT rebate and stronger-than-expected BESS demand Supply Disruptions Jiangxi Province mining license removals. Jianxiawo delays and Zimbabwe export suspension Feedstock Tightness Inventory drawdowns since August 2025. Increasing market sensitivity to demand, supply and speculation Speculative Capital Futures exchange volatility has amplified price swings as investors flock to battery materials Lithium Chemicals Inventory and Prices Source: Benchmark Mineral Intelligence Giga Europe 2026 Lithium Price Rally 18 Lithium prices have experienced an explosive rally between mid-November 2025 and March 2026, driven by a combination of aggressive supply cuts and a massive surge in demand from the energy storage sector, marking a definitive end to the "lithium winter" of 2023–2024 Lithium Carbonate (Li2CO3 EXW China, BG)1 Latest Price (11 Mar) $23,225 Change from Nov 25 – Mar 11 +$11,750/t (+102%) Lithium Hydroxide (LiOH EXW China, BG)1 Latest Price (11 Mar) $22,625 Change from Nov 25 – Mar 11 +$12,000/t (+113%) Spodumene (Li2O FOB Australia)1 Latest Price (11 Mar) $2,156 Change from Nov 25 – Mar 11 +$1,196/t (+125%) 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 0 5 10 15 25 35 30 Goldman Sachs Jan 16 2026 18.0 22.7 $/kg LCE 11.3 Canaccord Jan 14 2026 Barrenjoey Jan 5 2026 JP Morgan 14.0 15.0 12.3 29.5 11.8 11.1 14.0 13.3 32.5 22.9 15.0 14.0 22.5 22.5 16.8 15.0 Benchmark Minerals Q4 2025 Spot Mar 11 2026 Long Term Incentive Prices Canaccord Genuity - $22.5/kg Benchmark Minerals - $18/kg (previously $19) JP Morgan - $15/kg Barrenjoey - $15/kg Goldman Sachs - $14/kg Battery Grade Lithium Carbonate Price Forecasts Source: Canaccord Genuity (CGF) EV Materials Equity Research Jan 2026, Benchmark Minerals Lithium Price Assessment, Benchmark Minerals Q4 2025 Lithium Forecast, Goldman Sachs Australian Lithium & Gold Coverage January 16, 2026, Barrenjoey Research November 2025. Spot Price as of March 11, 2026, per Benchmark Minerals International. Figures in USD, real prices. 1Li2CO3 EXW China (Battery Grade), LiOH EXW China (Battery Grade) and Li2O FOB Australia prices as of 11 March 2026. Note: The Company does not verify the accuracy of information derived from BMI or from other company presentations or reports. Lithium Market Supply/Demand Balance 19 Source: Canaccord Genuity (CGF) EV Materials Equity Research Jan 2026, Barrenjoey Research Jan 2026, Benchmark Mineral Intelligence Dec 2025, Goldman Sachs Australian Lithium & Gold Scenarios Jan 2026, and JPMorgan Lithium Outlook October 2025. Note: The Company does not verify the accuracy of information derived from, Canaccord, Benchmark Mineral, Barrenjoey Goldman Sachs and JPMorgan or from other company presentations or reports. 1 Barrenjoey Research dated 12 November 2025 indicated revised 2026 and 2027 Lithium Carbonate/Hydroxide prices of $29,500/t and $22,875/t respectively. 2 Barrenjoey Research dated 12 November 2025 indicated revised 2026 and 2027 Spodumene prices of $3,250/t and $2,325/t respectively. However, significant demand growth is anticipated to induce market shortfall beginning in 2029 Barrenjoey, Canaccord, Goldman, and BMI have significantly increased their 2026-2030 lithium price forecasts from Nov 2025, driven by ESS demand growth, and a slow supply response due to prolonged China restarts Battery Supply Demand Balance (JPM Estimates) Li2CO3 2026 Forecast Nov | Jan (US$/kg) Canaccord 12.3 | 32.5 Goldman 8.6 | 14.0 Barrenjoey1 11.5 | 29.5 BMI 8.9 | 11.3 Spodumene 2026 Forecast Nov | Jan (US$/kg) Canaccord 0.9 | 2.8 Goldman 0.8 | 1.7 Barrenjoey2 1.0 | 3.3 BMI 0.9 | 1.0 2026 Price Revisions – Nov ‘25 vs. Jan ‘26 2026 market expected to be marked by price volatility -100 0 100 200 0 500 1,000 1,500 2,000 2,500 3,000 -150 -50 50 150 Deficit / Surplus (‘000 LCE) Supply / Demand of Lithium (‘000 LCE) 2024 2025 2026 2027 2028 2029 2030 -73K -88K Mine Supply + Recycling (LHS) Total Demand (LHS) Surplus Deficit Source: JP Morgan Lithium Outlook October 2025, Goldman Sachs Australian Lithium & Gold Scenarios Jan 2026. Note: The Company does not verify the accuracy of information derived from BMI or from other company presentations or reports. 20 However, significant demand growth is anticipated to induce market shortfall beginning in 2029 Lithium Market Demand Outlook Lithium demand expected to double between 2025 and 2030, driven by the BESS boom and continued strong EV demand in Asia and Europe 0 500 1,000 1,500 2,000 2,500 3,000 3,500 (‘000 LCE) 933 (60%) 423 (27%) 210 (13%) 2025 2026 2027 2028 2029 1,565 (55%) 1,009 (36%) 255 (9%) 2030 EVs BESS Other 1,566 2,829 JPM: 2025-2035 CAGR = 13% Global Lithium Demand BESS is the new EV, but baseline EV demand is still growing strongly 901 (64%) 195 (14%) 318 (22%) 2025 2026 2027 2028 2029 1,982 (64%) 638 (21%) 464 (15%) 2030 EVs BESS Other 1,414 3,084 GS: 2025-2035 CAGR = 17% 1.7x EV growth 2.4x BESS growth 1.2x Other growth 2.2x EV growth 3.3x BESS growth 1.5x Other growth Argentina Macro and Political Update 21 Following President Milei’s Party’s decisive victory in October 2025, the political and economic landscape for Argentina continues to improve Events Summary Implications for Lake Inflation Drop 35% annual inflation for 2025 • Staggering drop in inflation from the 117% seen in 2024 Positive Debt Repayments $4.2 billion debt maturity • The government successfully made the payment in January 2026 • Boosted by a $3 billion repurchase agreement (“repo”) with six int’l banks Positive EU-Mercosur Deal Signed historic EU deal after 25 years • Historic, long-awaited Free-Trade Agreement between Mercosur1 and the European Union was signed January 17, 2026 Positive Reforms Continued reform due to Milei congressional control • Catalyst for push through of “Second Stage” reforms including • Aggressive deregulation of labor markets • Overhaul of tax laws and spending cuts • Privatization of major state assets Positive Financial Markets Investors betting on new wave of reforms and economic stability • Sovereign risk hit a seven-year low • Argentine Global bonds have seen a 12-15% price increase since December • Continued Peso resilience Positive Continued optimism and positive momentum for foreign direct investment in Argentina 1Mercosur members are Argentina, Brazil, Paraguay & Uruguay. US – Argentina Partnership Recent developments represent the most significant realignment in US-Argentina relations in decades • Lake Resources participated in three-day roadshow organized by JPMorgan, Bank of America and other major financial institutions • President Milei (led the roadshow), top members of his cabinet, provincial governors and local companies were in attendance to pitch Argentina as an attractive investment destination for global investors. Emphasis on alignment with US and global markets • Critical minerals (lithium and copper), natural resources and energy transition projects were central to discussions. • Rio Tinto announced it had secured ~$1.17B financing to advance the Rincon lithium project in Salta, Argentina. Funding came from IFC, IDB Invest, Export Finance Australia and JBIC • Analysts noted improving confidence with some caution around reserves, FX controls and execution risk Major Headlines from Washington DC (Feb 4 – 6) 2. Financial and Security Cooperation • US reaffirmed support for $20B credit line to Argentina • Export controls on dual-use technology (AI, quantum, sensitive hardware) to prevent access by US adversaries via South America 4. Critical Minerals Framework (aligned with Project Vault) • Argentina committed to prioritize the US and its allies for exports of lithium and copper • Priority mining projects in Argentina to receive direct US government support via Project Vault to be jointly identified within next six months 1. Reciprocal Trade & Investment Agreement (ARTI) • Tariff elimination on 1,675 Argentine products and Argentina scrapping barriers on 200+ US categories • Argentine beef import quota expansion – 20K to 100K tonnes • Argentina regulatory fast track for US FDA approved items • “No digital tax” policy and cross-border data sharing 3. Project Vault (US Critical Minerals Strategic Reserve) • $12B funding to stockpile globally sourced critical minerals – lithium, copper, cobalt, nickel and rare earth elements in secure US facilities • Major companies including GM, Boeing, GE Vernova and Google signed on as “offtakers” for the reserve Major Headlines from Argentina Week NYC (Mar 9-11) Source: US Government public announcements, news sources. Event Date Description US Foreign Policy Conference April 2 Major international conference on US- Global relations is scheduled to take place in Mendoza, Argentina Upcoming Events 22 Looking Ahead Lake Resources Strategic Priorities 24 o Obtain EIA Approval o Continue to optimize technical and commercial power solutions o Engage with Offtake and Strategic Partners o Continue to optimize cost structure and extend financial runway o Work towards FID Key areas of focus in 2026 and beyond Thank You Appendix Lilac DLE Technology Update – Gen 5 Ion Exchange 27 Higher performance than any competing DLE technology featuring lower costs with first quartile economics Gen 3 Lilac IX (Original DFS) Gen 4 Lilac IX (DFS Addendum) Gen 5 Lilac IX Lithium Recovery 80% 90% >95% Media Productivity (kg LCE/day/m3) 550 800 1,500 IXM Cycle Life 2,200+ 4,000+ 10,000+  Lilac Solutions has developed Gen 5 lithium extraction technology that significantly outperforms conventional methods and addresses key industry challenges around cost, sustainability, and scalability  The Gen 5 technology delivers breakthrough performance improvements across the following critical areas:  Media productivity is 20x higher than alumina adsorbents  Lithium recovery rates increased from 90% (Gen 4) to 95%+  Extended IX media durability delivers up to 10,000 cycles before replacement  Impurity rejection of 99.9%+ (like Gen 4 IX)  Solids tolerance allows passage of 70x larger particles and avoids expensive ultrafiltration versus alumina adsorbents  10x lower water consumption compared to alumina adsorbents  Eluate quality: 7x higher lithium concentration and higher purity with 100x lower Li:B ratio than alumina adsorbents For more information, refer to Lilac announcement dated 28 October 2025 and its accompanying whitepaper. Potential incremental Kachi Capex / Opex savings with Gen 5 IX vs. Gen 4 IX Note: This table has been directly extracted from the JORC update announced on 3 June 2025. Lake Resources N.L. confirms that it Is not aware of any information that materially affects the information included in Lake's JORC update announced on ASX on 3 June 2025 and all material assumptions contained in that announcement continue to apply and have not materially changed. Measured May 2025 (to 600 m depth) Unit Sediment Volume (m 3 ) Specific Yield % Brine Volume (m 3 ) Liters Li (mg/l) Li (Grams) Li (Tonnes) Tonnes LCE A 10,339,000,000 0.078 806,442,000 806,442,000,000 0.210 169,352,820,000 169,000 901,000 B 4,385,500,000 0.088 385,740,000 385,740,248,000 0.229 88,334,517,000 88,000 470,000 C to 400 7,561,800,000 0.068 514,202,000 514,202,400,000 0.230 118,266,552,000 118,000 629,000 Fan West to 400 11,088,000,000 0.095 1,053,360,000 1,053,360,000,000 0.220 231,739,200,000 232,000 1,233,000 K24 – K25 below 400 7,744,200,000 0.093 720,211,000 720,210,600,000 0.250 180,132,593,000 180,000 958,000 Total 41,118,500,000 3,479,955,000 3,479,955,248,000 787,825,682,000 788,000 4,191,000 Unit Sediment Volume (m 3 ) Specific Yield % Brine Volume (m 3 ) Liters Li (mg/l) Li (Grams) Li (Tonnes) Tonnes LCE A 3,870,500,000 0.08 309,640,000 309,640,000,000 0.185 57,283,400,000 57,000 305,000 B 1,569,100,000 0.079 123,959,000 123,958,900,000 0.191 23,676,150,000 24,000 126,000 C 5,446,470,000 0.074 404,338,000 404,338,308,000 0.218 88,218,532,000 88,000 469,000 Fan North 9,109,970,000 0.102 929,217,000 929,216,940,000 0.232 215,578,330,000 216,000 1,147,000 Fan South 2,767,500,000 0.093 257,378,000 257,377,500,000 0.239 61,513,223,000 62,000 327,000 Under volcano 6,718,700,000 0.074 500,187,000 500,187,059,000 0.193 96,425,185,000 96,000 513,000 Total 29,482,240,000 - 2,522,621,000 2,522,620,663,000 - 542,294,093,000 542,000 2,885,000 Inferred May 2025 Mineral Resource Estimate Table Unit Sediment Volume (m 3 ) Specific Yield % Brine Volume (m 3 ) Liters Li (mg/l) Li (Grams) Li (Tonnes) Tonnes LCE A (South) 3,694,300,000 0.076 278,924,000 278,924,453,000 0.181 50,485,326,000 50,000 269,000 B (South) 1,489,000,000 0.075 111,544,000 111,543,670,000 0.179 19,927,611,000 20,000 106,000 C (South) 4,434,492,000 0.067 297,111,000 297,110,964,000 0.182 54,076,275,000 54,000 288,000 A (North) 3,075,200,000 0.095 292,144,000 292,144,000,000 0.232 67,776,824,000 68,000 361,000 B (North) 4,294,400,000 0.102 438,029,000 438,028,800,000 0.241 105,431,342,000 105,000 561,000 C (North) 4,115,300,000 0.102 419,761,000 419,760,600,000 0.182 76,396,429,000 76,000 406,000 D (North) 5,073,100,000 0.102 517,456,000 517,456,200,000 0.182 94,177,028,000 94,000 501,000 K21 8,