• All major construction permits for Phase One sites now secured
• Integrated Geothermal and Lithium Extraction Plant to produce renewable energy and battery-grade lithium
• Lithium chloride solution to be transported to downstream Central Lithium Plant

Vulcan Energy (ASX: VUL, FSE: VUL) is pleased to announce it has secured the permit to build its upstream Lithium Extraction Plant (LEP) for the Phase One Lionheart Project in Landau, Germany, with all major construction permits now received. The LEP forms part of the integrated commercial Geothermal and Lithium Extraction Plant (G-LEP) and will be constructed next to the geothermal power plant. Building permits for the 30MW geothermal plant and electrical substation were received in June 2025, with land acquisition approval for the G-LEP received from the City of Landau in September 2025. The integrated G-LEP will use intermediate heat exchangers at each well site to efficiently transfer heat from geothermal brine into a closed-loop industrial water cycle, sending hot water to the district heating facility and Organic Rankine Cycle plants. The cooled lithium-rich brine will then be directed to the LEP for lithium extraction using Vulcan's proprietary VULSORB® adsorbent technology. The lithium-depleted brine will be reinjected into the reservoir, completing the cycle. From the LEP, lithium chloride solution will be transported to the downstream commercial Central Lithium Plant (CLP) at Industrial Park Höchst, Frankfurt. The building permit for the CLP was received in September 2025, with the Company now in receipt of all major construction permits for Phase One. The planned modular build of the G-LEP will allow for phased development across future phases in the Upper Rhine Valley Brine Field.

The LEP permit forms part of the Company's Phase One financing requirements, which is targeted for finalisation during Q4 2025.