• Closed sale of three non-core lithium assets for $13.6M
• Advanced Kachi Project's Exploitation EIA and FEED for power supply
• Maintained Kachi Strategic Partnership discussions
• Reduced Q4 2024 cash outflows, targeting 25-30% reduction in 2025

Lake Resources N.L. provided a comprehensive update on its key projects and financial position for the quarter ended December 31, 2024. The company closed the sale of three non-core lithium brine assets in Argentina for AUD$13.6 million, providing additional liquidity. It continued to work on the Exploitation Environmental Impact Assessment (EIA) approval process for the Kachi Project, including a technical review with an independent expert. Lake also engaged with YPF Luz on the Front-End Engineering Design (FEED) for the proposed power delivery system for Kachi. The company maintained discussions with a select group of parties for a strategic partnership on Kachi while expanding its outreach. Lake's cash expenditures for the quarter were better than projected, and the company is revising its total expected cash expenditures for the 2025 calendar year with an expected reduction of 25-30% compared to 2024. The company continues to closely monitor its available cash balance and actively minimize total relevant outgoings. At the recent AGM, shareholders approved the renewal of Lake's placement capacity under Listing Rule 7.1A, providing an important potential source of capital to further improve the company's liquidity runway.

Lake is continuing its evaluation of the Kachi Project's cost estimates with the goal of achieving a material reduction in total project capital costs and operating costs. The company expects the Exploitation EIA approvals for Kachi to be issued in the first half of 2025.