• Final Investment Decision made to restart Finniss Lithium Project
• Secured ~A$290 million funding package from strategic partners and equity raise
• Entered into purchase and distribution arrangement with Glencore

Core Lithium Ltd (ASX: CXO) has made the Final Investment Decision to restart operations at the Finniss Lithium Project in the Northern Territory. The company has secured a diversified financing package of around A$290 million to fund the restart, comprising strategic partner funding and an institutional equity raise. The funding package provides certainty, flexibility and alignment with long-term strategic partners. Core has also entered into a purchase and distribution arrangement with Glencore International AG, leveraging their global platform while retaining full flexibility to place offtake at Core's discretion. The company has commenced early works and site preparation, including the award of the Grants open pit mining contract and the commencement of works on the BP33 boxcut development. Core ended the quarter with a cash balance of A$91.6 million, which will be further bolstered by the second tranche of the funding package, subject to shareholder and FIRB approval. The Finniss Lithium Project is expected to deliver strong returns with a 3-year payback, a pre-tax NPV of A$1.1 billion, and free cash flow generation of A$1.7 billion, underpinned by competitive unit operating costs and a conservative long-term spodumene concentrate price assumption.

Core Lithium is targeting first ore from the Grants deposit in the June 2026 quarter and first spodumene concentrate production from the DMS plant in the September 2026 quarter.

With funding secured and execution underway, Core Lithium is focused on delivering the Finniss Lithium Project restart with discipline and momentum, targeting milestone execution.