• Record quarterly production of 95,709 dmt of spodumene concentrate
• Revenue up 17% to A$104 million
• Unit operating cost reduced by 18% to A$816 (US$512) per dmt SC6e

Liontown Resources delivered another strong set of results from the Kathleen Valley operation during the March 2025 quarter. The company declared commercial production at the Kathleen Valley process plant and saw consistent, positive performance across key metrics. Production reached a record 95,709 dry metric tonnes (dmt) of spodumene concentrate, bringing the total produced since commencement to 208,629 dmt. Five shipments totaling 93,940 dmt were completed, generating revenue of A$104 million, a 17% increase from the prior quarter. Unit operating costs (FOB) decreased 18% to A$816 (US$512) per dmt SC6e, and all-in sustaining costs (FOB) decreased 8% to A$1,081 (US$678) per dmt SC6e. Open pit mining continued to meet expectations, and underground development achieved 1,849 metres for the quarter, slightly behind plan but still advancing well. The process plant exceeded targets, with 583kdmt of ore processed and lithia recoveries increasing to 64%. Preparation for the commencement of underground production progressed as planned, with the first stoping blast occurring in early April 2025. The company remains focused on optimizing costs and seeking operational efficiencies, with A$60 million in cumulative cost savings and deferrals realized to date.

Guidance remains unchanged, with costs currently expected at the upper end of the range.