Kathleen Valley Expansion Final Investment Decision

• FID approved for Kathleen Valley Expansion
• Target to lift steady-state spodumene production to 780,000 dmt/year
• Total approved capital of $389 million
• Expansion expected to be completed by Q2 FY29
• Expansion to be funded through existing cash and operating cash flow

Liontown Ltd has announced the Final Investment Decision (FID) for the Kathleen Valley Expansion, which is expected to significantly boost the company's spodumene concentrate production. The expansion aims to increase the five-year average steady-state production to approximately 780,000 dmt per year from FY30, peaking at over 800,000 dmt in FY34. The total approved capital for the expansion is $389 million, inclusive of previously announced FY27 expansion expenditure of $60-70 million and contingency. The expansion is scheduled for completion by the end of Q2 FY29 and is expected to be funded through existing cash and operating cash flow. The expansion will also create an estimated 210 full-time equivalent (FTE) roles during construction and a further 185 ongoing roles post-completion.

FY27 production guidance unchanged; FY27 capital expenditure guidance updated to $435-495 million

The expansion is expected to enhance the company's production capacity and financial performance, positioning it for sustained performance through market cycles.