Quarterly Activities and Cashflow Report

• First spodumene concentrate produced at Finniss, with plant commissioning ongoing.
• Successful completion of brownfields upgrades, increasing throughput capacity by 20%.
• BP33 underground development advanced, with first development ore expected mid-CY27.
• Completed sale of remaining lithium fines stockpile to Glencore, generating A$38.5M in CY26.
• Fully funded through to steady-state production in 2028.

Core Lithium Ltd (ASX: CXO) reported its September quarterly activities, highlighting several key milestones achieved during the quarter. The company produced its first spodumene concentrate at the Finniss Lithium Operation, marking a major milestone in the staged restart of the operation. Targeted brownfields upgrades to the processing plant were successfully completed, expected to increase throughput capacity by approximately 20% to 1.2 million tonnes per annum. Underground development at BP33 continued, supporting the planned delivery of first development ore in mid-CY27. Exploration drilling at BP33 returned high-grade lithium results, providing further evidence of mineralisation beyond the current Mineral Resource. The company also completed the sale of its remaining lithium fines stockpile to Glencore, bringing total revenue from stockpile sales to approximately A$38.5 million in CY26. Core received Tranche 2 Convertible Note funds of US$44 million (~A$62 million), completing the funding package for Finniss, which is now fully funded through to steady-state production in 2028.