• Vulcan signs 8-year binding offtake agreement with Glencore for 36,000-44,000 tonnes of lithium hydroxide
• Glencore is a major global commodities trader and producer, providing access to European markets
• Glencore joins Stellantis, Umicore and LG Energy Solution as Vulcan's Phase One offtake partners

Vulcan Energy (ASX: VUL, FSE: VUL) has signed a binding offtake agreement with a wholly owned subsidiary of Glencore plc, one of the world's largest natural resource companies, to provide battery-quality lithium hydroxide monohydrate (LHM) from its Phase One Lionheart Project. The agreement is for an initial eight-year period, with Glencore to purchase between 36,000 and 44,000 tonnes of LHM, representing approximately 20% of Vulcan's current planned output over the period. Glencore is a multinational commodity trading and mining company headquartered in Switzerland, producing and marketing more than 60 commodities through approximately 60 assets and with offices in over 30 countries. This agreement with Glencore offers Vulcan the possibility of a European partnership for end users, in addition to its existing offtake agreements with Stellantis, Umicore and LG Energy Solution. Vulcan is targeting to finalise its Phase One financing package, together with project and financing agreements, in Q4 2025, before commencing construction of the commercial plants.

The agreement with Glencore is for the supply of 36,000 to 44,000 tonnes of battery-quality lithium hydroxide over an initial eight-year period, representing approximately 20% of Vulcan's current planned output over the period.

Vulcan is targeting to finalise its Phase One financing package, together with project and financing agreements, in Q4 2025, before commencing construction of the commercial plants.