Vulcan Energy Resources Limited (Vulcan, ASX: VUL, FSE: VUL, the Company) is pleased to provide an update on the Company’s financing process, with the formal launch of the second and final phase of its Project-level debt and equity funding package.

Highlights

• The Company, with the support of BNP Paribas, has been running a two-phase Project-level debt and equity financing process (“Finance Process”), targeting to secure Project-level funding through a 65%/35% mix of debt and equity.
• “Phase One” of the Finance Process is now complete, with the Company receiving significant interest from strategic and financial investors, commercial banks, the European Investment Bank (“EIB”) and major government-backed export credit agencies.
• The formal debt launch package issued today includes detailed due diligence reports prepared by the Lenders’ Independent Technical Advisor, Environmental and Social Advisor, Market Advisor and Legal Advisor and marks the commencement of Phase two of the Finance process.
• The Company will now enter formal discussions with Tier 1 financing partners who have expressed inprinciple and non-binding interest. These structuring banks comprise four international banks and four export credit agencies, along with continued support from the EIB.
• The four international banks, ABN-AMRO, ING, NATIXIS and UNICREDIT, have an outstanding track record of supporting high quality, critical minerals and energy projects and are each a natural partner to Vulcan’s ambitions of market leading clean, critical raw materials and renewable energy production.
• In addition to advancing Vulcan’s Finance Process, the Company has also applied for a significant value in public funding, through several grant schemes, for which its integrated renewable energy and ZERO CARBON LITHIUMTM Project (“Project”) is well placed to qualify for, through sector-leading economic and sustainability credentials. The launch of the second phase of the Finance Process has been timed to coincide with the public funding application process.
• In parallel with the Project-level debt process, Vulcan is also launching the second phase of its Projectlevel equity financing process, having received significant interest from strategic and financial investors after a first due diligence phase, including from engineering and energy companies with whom Vulcan is expecting to build long term strategic partnerships as part of this Finance Process.
• With today’s formal launch of the second phase of the Finance Process, Vulcan’s Project-levelfinancing program remains on schedule for completion by the end of 2024.

MD and CEO Cris Moreno stated, “We are delighted to have launched the second phase of Vulcan’s Finance Process – a key milestone on our path to becoming Europe’s first fully integrated carbon neutral lithium producer. The high-quality nature of respondents in the first phase of our Finance Process is a strong signal of confidence in both our team’s ability to deliver a world class project, and the credentials of Vulcan’s integrated renewable energy and ZERO CARBON LITHIUM™ Project, to enable a green energy and mobility transition for Europe. This is an exciting period for the Company, and we look forward to entering the formal discussion stage of our Finance Process with such exceptional and well aligned financing partners.

Media inquiries:

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