Pilgangoora Ore Reserve increases 31% in contained lithium

• 23% increase in Pilgangoora Ore Reserve tonnes to 249.2 million tonnes
• 31% increase in contained lithium to ~3.1Mt Li2O
• Maiden Underground Ore Reserve of 46.5Mt at 1.50% Li2O

PLS Group Limited announced a significant increase in the Ore Reserve and updated Mineral Resource for its Pilgangoora Operation following the completion of the P2000 Feasibility Study, P2000 final investment decision, and Underground Pre-Feasibility Study. The Ore Reserve increased by 23% to 249.2 million tonnes at 1.24% Li2O, representing a 31% increase in contained lithium. The update includes a maiden Underground Ore Reserve of 46.5 million tonnes at 1.50% Li2O, enhancing the long-term production base. The Mineral Resource was also updated to 403 million tonnes at 1.33% Li2O, with higher average grade. The expanded Ore Reserve supports a 20-year operating horizon on an open pit basis and more than 25 years including underground operations.