• Restart Study progressing well with opportunities to improve productivity and lower operating costs
• Core has ended the last remaining operating contracts from the operating period at Finniss
• Transactions conclude all outstanding obligations to third parties, including demobilisation

Core Lithium Ltd (ASX:CXO) is pleased to provide an update on the Restart Study and associated activities for its Finniss Lithium Operation (Finniss), situated 88km southwest of Darwin Port. The Restart Study is progressing well and is on track for completion in the June quarter of 2025. The Finniss operation has been well built and maintained, with over $250 million invested capital across Grants and BP33. The Restart Study is focussed on optimising current infrastructure and minimising complexities during future mining and processing to increase productivity. Work completed to date has reinforced the future opportunity which exists at Finniss. An optimised mine plan for the cornerstone BP33 lithium deposit (BP33) is being completed as part of the Restart Study. BP33 is a large, sub-vertical pegmatite body with approximately 350m of strike and up to 40m true width. The deposit is high-grade with a current Ore Reserve of 8.7Mt at a grade of 1.38% Li2O. Metallurgical test work and studies are being completed with the aim of increasing future recoveries, yield and capacity of the DMS Plant. In support of the Restart Study, Core has also successfully ended its remaining operating contracts at Finniss relating to the operational period at Finniss. Transitioning to 100% ownership of all site infrastructure presents the potential to adopt a revised operating model for the site in future. The settlement of the above contractual matters is for a total of $19.5 million and is expected to close by July 2025 and can be settled with Core's existing cash reserves.