Vulcan Energy Resources Limited (Vulcan, ASX: VUL, FSE: VUL, the Company) is pleased to announce the start of commissioning at the Company’s 100%-owned lithium hydroxide optimisation plant, designated CLEOP. This represents a key milestone as the Company progresses towards delivery of Europe’s first battery-grade lithium hydroxide product sourced from a European lithium resource.

Highlights

• Vulcan’s downstream CLEOP facility is located just outside of Frankfurt, in the Höchst Chemical Park, where Vulcan will also construct its commercial Central Lithium Plant (CLP)
• The main building and utility systems have been completed to allow first energisations to take place. Power has been fed to the plant for the first time through the main switchboard, a critical step for the electrolysis plant
• Start of production of first lithium hydroxide and first production of battery-grade lithium hydroxide monohydrate (LHM) will be the forthcoming milestones
• Once in operation, CLEOP will convert Lithium Chloride (LiCl) from the Company’s upstream Lithium Extraction Optimisation Plant (LEOP) to battery grade LHM. This will represent the first fully domestically produced LHM, from raw materials to final product, in Europe
• LEOP and CLEOP will serve as important process optimisation and training facilities, in preparation for the Company’s commercial operations.

Managing Director and CEO Cris Moreno stated: “The start of commissioning of Vulcan’s downstream lithium optimisation facility is a significant milestone for Europe’s critical raw material independence, and for its electric vehicle supply chain independence.”

“In the coming months, Vulcan will begin to transport the first LiCl parcels from our upstream facility through to CLEOP for production of the first battery-grade lithium hydroxide products in Europe, all from a European lithium resource.”

“We look forward to welcoming senior German and EU government ministers and dignitaries to an official opening of this important facility for the German and European battery industry.”

CLEOP – Vulcan’s downstream lithium optimisation plant
CLEOP is the Company’s pre-commercial downstream optimisation plant. At CLEOP, LiCl solution produced from Vulcan’s 100%-owned upstream operations will be converted to battery specification LHM. Vulcan will use the CLEOP facility to train personnel and optimise processes in a pre-commercial setting ahead of construction of the commercial CLP. The Company also expects LHM production from CLEOP will allow for significant progress in LHM product qualification required by offtake partners, reducing the potential for delay and fast-tracking product to market once commercial production has commenced.

Media Relations

International:

Annabel Roedhammer, Vice President Communications | aroedhammer@v-er.eu | +49 (0) 1511 410 1585

Australia:

Judith Buchan, Communications Lead APAC | jbuchan@v-er.eu | +61 411 597 326

Investor Relations

Kurt Walker | Head of Investor Relations | kwalker@v-er.eu | +61 8 6331 6156