PLS approves P2000 FID to lift production to circa 2Mtpa

• FID approved for P2000 Project to increase spodumene production to ~2Mtpa
• Project expected to deliver incremental post-tax NPV of A$2.7B and IRR of 29.5%
• First production targeted for September Quarter 2029

PLS Group Limited has announced the final investment decision (FID) for the P2000 Project at its Pilgangoora Operation in Western Australia. The project aims to increase spodumene concentrate production to approximately 2.0 million tonnes per annum (Mtpa) through the construction of the new Jimmagunya processing plant. The project is expected to deliver strong economics, with an incremental post-tax net present value (NPV) of A$2.7 billion (8% real) and an internal rate of return (IRR) of 29.5%, based on a long-term spodumene concentrate price assumption of US$1,620 per tonne. The P2000 Project is expected to create significant long-term value for PLS shareholders and strengthen the company's position as a major lithium producer globally.

Incremental post-tax NPV of A$2.7B, IRR of 29.5%, first production in Q3 2029

PLS anticipates that the P2000 Project will significantly enhance its production capacity and economic performance, positioning the company for strong growth in the lithium market.