Karlsruhe, 1 July 2024. As an integrated geothermal energy and lithium producer operating in Germany, Vulcan strongly supports the draft Geothermal Acceleration Law which intends to strengthen the role of geothermal energy as a vital part of Germany’s renewable energy mix of the future. The German Federal Ministry for Economic Affairs and Climate Action has taken a significant step towards advancing geothermal renewable energy projects in Germany with the publication of a draft law for geothermal acceleration. The Geothermal Acceleration Law aims to benefit geothermal operators, federal states, and local authorities by removing obstacles to the development of geothermal energy, supporting Germany’s goal of generating 10 TWh of geothermal energy by 2030. Vulcan is significantly contributing to Germany’s renewable energy transition through its commercial geothermal energy production in the Rhineland-Palatinate region. Vulcan’s existing geothermal renewable energy plant in Insheim, with over 10 years of successful operation, currently supplies renewable power to approximately 6,500 households. Phase One of Vulcan’s integrated renewable energy and ZERO CARBON LITHIUM™ Project centres on initiating the first commercial phase of lithium production from its proven brine-producing area. Concurrently, Vulcan plans to substantially increase geothermal heat production, providing this renewable energy source to local communities through the district heating system as well as decarbonising industry. Vulcan’s Managing Director and CEO, Cris Moreno, stated: “The draft law for Geothermal Acceleration is a powerful commitment to expanding Germany’s geothermal energy capacity. Our integrated renewable energy and ZERO CARBON LITHIUM™ Project will deliver geothermal heat production for more than 1 million people by 2030, supporting local communities in their endeavors to meet climate protection and regional heat planning targets. We believe geothermal heat and power is not only a cornerstone of Germany’s renewable energy future, but also a critical component in achieving energy security, reducing carbon emissions and fostering sustainable economic growth.” Legislation Highlights  The Draft Geothermal Acceleration Law has been sent to federal states and associations for consultation and seeks to simplify approval procedures for both deep and near-surface geothermal energy projects. In addition, this forward-looking legislation aims to expand and accelerate Germany’s geothermal energy capacity, reflecting a strong commitment to sustainable, green energy solutions. Key aspects of the law include: Support for Regional Heat Planning: Emphasising strong public interest and strengthening acceptance among local communities. Facilitation of Geothermal Projects: Streamlining and expediting the implementation of geothermal projects, simplifying the authorisation and approval processes to reduce the current lengthy and bureaucratic procedures. Alignment with EU Strategy: Aligning with the EU Parliament’s resolution for a comprehensive geothermal energy strategy to accelerate the deployment and investment in geothermal energy. Geothermal Potential: Highlighting that geothermal energy can supply around a quarter of Germany’s heat requirement, establishing geothermal energy as the third pillar of carbon neutral energy generation. Next steps: The draft Geothermal Acceleration Law, is anticipated to be passed by the federal cabinet in August.   Media inquiries: Annabel Roedhammer Vice President Communications aroedhammer@v-er.eu +49 (0) 1511 410 1585

Karlsruhe, 10 June 2024. The Landau City Council voted in favour of the land development plan for “D12” at its last meeting on Tuesday 4th June before the local elections held on the weekend. The approval was granted by a strong majority, clearly demonstrating support from the City Council towards Vulcan’s integrated renewable energy and ZERO CARBON LITHIUM™ Project (the Project). The zoning stipulated in the “D12” development plan for the “Am Messegelände Südost” industrial estate, forms the basis for the construction of Vulcan’s integrated Geothermal and Lithium Plant in Landau.  Vulcan has already submitted the corresponding building applications for the planned facility. The City Council can now review the applications in conjunction with the development plan and building permits. The planned Geothermal Plant will enable The City of Landau to utilise green energy both for the municipal district heating supply and for the carbon neutral energy supply of industry and commerce. Vulcan’s Chief Development Officer, Thorsten Weimann stated, “The Landau City Council’s decision represents a significant step towards a sustainable and carbon neutral future for Landau and the region. Vulcan is looking forward to partnering with The City of Landau to drive the world leading ZERO CARBON LITHIUM™ Project (the Project) forward and make an important contribution to the energy transition. The positive vote of D12 gives Vulcan a solid basis for the Geothermal and Lithium plant permits and positions us well for the start of construction aligned with our project schedule.” Vulcan’s Project will result in numerous benefits for the citizens of Landau and the surrounding region. Vulcan’s aim is to generate carbon neutral heat for more than one million people in the Upper Rhine Valley by 2030 and thus actively support the German federal government’s goal of initiating 100 additional geothermal projects by 2030. “The population of Landau and companies in the region will not only benefit from baseload renewable energy, but also carbon neutral heat supply,” adds Weimann. Lithium-rich brine and hot industrial water will be transported to Vulcan’s Geothermal and Lithium Plant in Landau via a pipeline system. The hot industrial water will be used to provide carbon neutral heat through a district heating system, thus producing green energy to benefit the local community in Landau and the surrounding region. In the Lithium Plant, the lithium will be extracted from the brine before it is returned to the subsurface, in a closed loop system. The lithium chloride produced will be transported to the Industrial Park in Hoechst for conversion to lithium hydroxide monohydrate in Vulcan’s Central Lithium Plant. Offtake agreements have already been secured with Stellantis, Umicore, Renault, LG Energy Solution and Volkswagen. Vulcan’s Managing Director and CEO, Cris Moreno stated, “This positive result from The Landau City Council is an important step in the realisation of Phase One of our integrated and renewable energy ZERO CARBON LITHIUM™ Project. We are moving decisively towards the construction of the integrated Geothermal and Litihium Plant in Landau and are delighted with the City’s support for our Project which will benefit the region not just via renewable energy and heat, but in jobs and services.  A win-win for The City of Landau.”   Media inquiries: Annabel Roedhammer Vice President Communications aroedhammer@v-er.eu +49 (0) 1511 410 1585        

On 4 June 2024, Her Excellency Natasha Smith, Australian Ambassador to Germany, was officially welcomed by the German Australian Business Council at the ‘Ambassador’s Welcome Dinner’ in Frankfurt. As a German-Australian integrated geothermal energy and ZERO CARBON LITHIUM™ business, Vulcan was invited as the keynote speaker. Vulcan’s Managing Director and CEO, Cris Moreno, delivered the keynote, emphasising the need to strengthen trade policies for critical raw materials between Australia and Germany.  He advocated for a multi-channel partnership focused on technology, extraction, production and recycling to drive innovation and ensure a sustainable, secure supply chain for critical raw materials and green energy. Vulcan is at the forefront of this development, delivering Europe’s flagship project of carbon neutral lithium production to fit the green transition. The event was iconic, given its proximity to a huge geothermal-lithium brine reservoir three kilometres underground, spanning 300 kilometres from Frankfurt to Basel. This reservoir contains one of the world’s largest lithium resources, crucial for Europe’s domestic battery electric vehicle production. Vulcan, having access to this resource, uses Adsorption-type Direct Lithium Extraction (A-DLE) to extract lithium from this geothermal brine, delivering high-quality carbon neutral lithium chemicals while providing baseload renewable heating to local communities: a win-win. The event was timely, with the signing of the Memorandum of Understanding (MoU) between the EU and Australia on 28 May, 2024, with the intent to partner on sustainable critical and strategic minerals. This MoU aims to strengthen partnerships for secure raw material supply chains, science and technology collaboration, and the development of ESG standards. It covers exploration, extraction, processing, refining, recycling, as well as processing of extractive waste, aligning perfectly with Vulcan’s ZERO CARBON LITHIUM™ and Renewable Energy Project, which encompasses the first four steps within Germany. This agreement follows the entry into force of the European Critical Raw Materials Act, which aims to ensure a diverse, secure, and sustainable supply of critical raw materials for the EU’s industry with reliable partners and a shared dedication to reduce critical raw material dependencies. Cris Moreno stated: “Today, we are witnessing how critical raw materials are the key ingredient to the energy transition, and any country who does not secure their own supply chain puts themselves at the mercy of those who have them. Therefore, we must respond in unity across the West to protect our way of living. Australia, with its vast experience of lithium production, and Germany, with its excellence in renewable energy and engineering, complementary for cooperation on climate action, renewable energy, and critical minerals is an essential pillar of the bilateral economic relationship.  Australia and Germany are ideally suited as trading and innovation partners in the green transition to shape the future of this collaboration.”   Photo credit (c) Jens Braune del Angel   Media inquiries: Annabel Roedhammer Vice President Communications aroedhammer@v-er.eu +49 (0) 1511 410 1585  

Vulcan Energy Resources Limited (Vulcan, ASX: VUL, FSE: VUL, the Company) is pleased to announce a total of €40 million (~A$65 million) in strategic investments by CIMIC Group (CIMIC) of €25 million (10 million shares), Hancock Prospecting Pty Ltd (HPPL) of €12.5 million (5 million shares) and Victor Smorgon Group (Smorgon) of €2.5 million (1 million shares) via private placements (the Investments). The Investments demonstrate commitment from strategic investors to support the lithium value chain globally and the construction of Phase One of Vulcan’s integrated renewable energy and ZERO CARBON LITHIUMTM Project (the Project) in Germany. Highlights CIMIC is an engineering-led construction, mining, services and public private partnerships leader working across the lifecycle of assets, infrastructure and resources projects. It is a member of the German headquartered HOCHTIEF Group, which has a leading position in Europe and a rapidly expanding presence in energy transition and sustainable infrastructure markets. Through its €25 million Investment, CIMIC becomes a substantial shareholder of Vulcan with a shareholding of ~6% of the outstanding share capital of Vulcan. HPPL is Australia’s most successful private company and has maintained a significant shareholding in Vulcan since January 2021. Through its €12.5 million Investment, HPPL has increased its substantial shareholding to ~7.5% of the outstanding share capital of Vulcan. HPPL will become Vulcan’s second largest shareholder. The price of €2.50 per share (A$4.08 per share) is a 9% discount to Vulcan’s 30-day volume weighted average price (VWAP) of shares trading on the ASX prior to the date of this announcement. The funds raised enable the early validation works for the Engineering Procurement and Construction Management (EPCM) contract for Vulcan’s Phase One lithium plant, and other activities including engineering and the pre-ordering of long lead items. The EPCM validation will be carried out by CIMIC company Sedgman and HOCHTIEF. These strategic Investments will materially contribute to the funding of pre-execution activities during the final stage of Project financing and protection of the Project’s deterministic execution schedule. MD and CEO Cris Moreno stated, “Today’s investments into Vulcan by CIMIC Group and Hancock Prospecting come at a particularly exciting time for Vulcan as we make significant headway towards developing Phase One of our flagship integrated renewable energy and ZERO CARBON LITHIUMTM Project. The substantial investments by both parties will enable the early commencement of important validation works ahead of the formal EPCM contract, maintaining momentum on the project timeline and optimising the overall execution program as we move towards final funding and construction.We warmly welcome CIMIC Group in becoming a substantial shareholder and are excited about the increased investment by our long-term shareholder Hancock Prospecting. Both parties have demonstrated experience in the delivery of globally significant, major projects and are eminently complementary to Vulcan’s strategy of producing Europe’s first sustainable battery-grade lithium products.”   About CIMIC Group CIMIC Group is an engineering-led construction, mining, services and public private partnerships leader working across the lifecycle of assets, infrastructure and resources projects. CIMIC Group comprises its construction businesses CPB Contractors, Leighton Asia and Broad, mining and mineral processing companies Thiess (joint control) and Sedgman, industrial services specialist UGL and development and investment arm Pacific Partnerships – all supported by in-house engineering consultancy EIC Activities. CIMIC Group’s mission is to generate sustainable returns by delivering innovative and competitive solutions for clients and safe, fulfilling careers for its people. With a history since 1899, and around 30,000 people in around 20 countries, it strives to be known for principles of Integrity, Accountability, Innovation and Delivery, underpinned by Safety. About Hancock Prospecting Pty Ltd Hancock Prospecting Pty Ltd (HPPL) is Australia’s most successful private company, with significant investments spanning mining, energy, and agriculture, including being the majority owner and operator of Roy Hill Holdings, one of Australia’s major resource-based operations. HPPL and Vulcan have shared a supportive, long-term relationship, with HPPL maintaining a top-5 shareholding position in the Company since January 2021. Today’s investment builds upon this, with HPPL increasing their ownership to ~7.5% of Vulcan’s issued capital. Vulcan welcomes HPPL’s increased investment and looks forward to a further continuation of the strong partnership between the two companies.   Media inquiries: Annabel Roedhammer Vice President Communications aroedhammer@v-er.eu +49 (0) 1511 410 1585    

Karlsruhe, 23 May 2024. Vulcan Energie Ressourcen GmbH (Vulcan) and JordProxa Pty. Ltd. (JordProxa) have entered into a Memorandum of Understanding (MoU) for the technology and process components for the Lithium Extraction and Central Lithium Plants of Vulcan’s Phase One integrated renewable energy and ZERO CARBON LITHIUM™ Project (the Project). JordProxa, an Australian headquartered international company, is a leader in custom water processing, crystallisation and evaporation plant and systems, playing a key role in meeting the challenges of high purity, sustainability, and value to meet the increasing demand for lithium-ion and other battery metals. JordProxa has over 250 project references globally including major battery grade projects for blue chip clients in Finland, Australia, Latin America and Canada. The partnership between Vulcan and JordProxa as the selected technology partner is geared toward the joint objective of delivering Vulcan’s Phase One Project on time with improved cost performance and optimisation for the lithium process portion of the project development. Leveraging JordProxa’s expertise in resources and technology, the intent of the MoU is to enhance project processes and production, streamline delivery times, and optimise Vulcan’s project costs. Additionally, this MoU will facilitate early engagement with the EPCm contractor and the Main Electrical and Automation Contractor to clarify scope definition, boundary limits, design principles, standards, and interfaces. Design optimisation will be achieved by integrating JordProxa’s experience and utilising the capability, data and knowledge from Vulcan’s current pilot and optimisation plants. Working closely with Vulcan’s German-based team, JordProxa will optimise the design basis and develop pricing proposals, project execution plans, and an interface management plan. Beyond project completion, JordProxa’s commitment is intended to extend to operational support and continuous performance improvement initiatives throughout the plant’s lifecycle. This long-term commitment would ensure that Vulcan can rely on JordProxa’s support and expertise even after the Project is completed. Vulcan MD and CEO, Cris Moreno stated, “I’m confident this MoU marks the beginning of a promising long-term partnership between Vulcan and JordProxa. We are delighted to join forces with JordProxa to deliver cutting-edge water processing, crystallisation and evaporation systems for Phase One of our integrated renewable energy and ZERO CARBON LITHIUM™ Project and beyond, underscoring our mutual dedication to innovation and sustainability.” Director of JordProxa, Angus Holden stated, “Vulcan’s ZERO CARBON LITHIUM™ Project offers a breakthrough opportunity in sustainable lithium production. JordProxa’s MoU with Vulcan enables our joint teams to work as partners towards the common goal of sustainable lithium.  We look forward to supporting Vulcan in realising this milestone project”. Upon completion of the MoU scope by 31 October 2024, Vulcan and JordProxa aim to advance negotiations towards a definitive agreement for the execution of Vulcan’s Phase One Lithium Extraction and Central Lithium Plants of the ZERO CARBON LITHIUM™ and Renewable Energy Project.   About Vulcan  Founded in 2018, Vulcan’s purpose is to empower a carbon neutral future, through the co-production of lithium, heat and renewable energy from geothermal brine. Vulcan is focused on delivering the world’s first integrated renewable energy and ZERO CARBON LITHIUM™ Project. By adapting existing technologies to efficiently extract lithium from geothermal brine, Vulcan aims to deliver a local source of sustainable lithium for Europe, built around a carbon neutral strategy with exclusion of fossil fuels. Already an operational renewable energy producer, Vulcan will also provide renewable electricity and heat to local communities. Vulcan’s combined geothermal energy and lithium resource is the largest in Europe, with licence areas focused on the Upper Rhine Valley, Germany. Strategically placed in the heart of the European electric vehicle market to decarbonise the supply chain, Vulcan is rapidly advancing the ZERO CARBON LITHIUM™ Project to target timely market entry, with the ability to expand to meet the unprecedented demand that is building in the European markets. Guided by our Values of Climate Champion, Determined and Inspiring, and united by a passion for the environment and leveraging scientific solutions, Vulcan has a unique, world leading scientific and commercial team in the fields of lithium chemicals and geothermal renewable energy. Vulcan is committed to partnering with organisations that share its decarbonisation ambitions and has binding lithium offtake agreements with some of the largest cathode, battery, and automakers in the world. As a motivated disruptor, Vulcan aims to leverage its multidisciplinary expert team, leading geothermal technology and position in the European EV supply chain to be a global leader in producing carbon neutral lithium. Vulcan aims to be the largest, most preferred, strategic supplier of lithium chemicals and renewable power and heating from Europe, for Europe; to empower a carbon neutral future.   About JordProxa  JordProxa delivers custom engineered solutions to produce a wide range of ultra-pure battery chemicals by integrating advanced water treatment, evaporation and crystallization technologies.  Our experience, spanning over 45 years in diverse industries enables us to offer cost effective and robust solutions that incorporate the latest advances in technology. Head quartered in Sydney, Australia, JordProxa operates throughout Europe, North & South America, Middle East, Africa and Southeast Asia.  It offers the complete range of capabilities and services from project inception to completion, including R&D, testing, on-going operational support and aftermarket support. Through on-going research and development, both in-house and through tertiary academic and research institutions, the company is able to continuously meet and exceed the ever-increasing purity needs of lithium-ion batteries and other energy metals, We leverage an established network of fabrication alliances and decades of experience with modular plant design. This allows us to deliver key plant assemblies that are extensively tested and proven in the workshop before they are dispatched and installed on site. This helps us optimise project delivery time whilst minimising the project risk.   Media inquiries: Annabel Roedhammer Vice President Communications aroedhammer@v-er.eu +49 (0) 1511 410 1585

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

Karlsruhe, 24 April 2024. Vulcan Energy Resources and ABB have entered into a Memorandum of Understanding (MoU) on the electrical and automation delivery requirements of Vulcan’s Phase One integrated renewable energy and ZERO CARBON LITHIUM™ Project. The collaboration with ABB intends to leverage global industry leading expertise to optimise processes, shorten delivery time, and reduce and improve cost performance. Vulcan’s early engagement strategy will help the parties establish a solid foundation for collaboration, minimise risks, and support the on-time project execution of Vulcan’s Phase One integrated renewable energy ZERO CARBON LITHIUM™ Project. ABB Ltd., a Swedish-Swiss headquartered international company (SWX: ABBN – market capitalisation ca. 84 billion CHF), is a technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. ABB is to identify, develop and propose the best solutions to the electrical and automation portion of the Phase One project development. The timing of this agreement will also include later involvement with the EPCm contractor for process plants and EPC contractor for Phase One power plant to clarify design principles, standards, and interfaces. Through this preparatory engagement, the collaboration will enable the clarification of design principles, standards, and interfaces, as well as early design and optimisation in electrification and automation for process and power. Furthermore, the two companies aim to go beyond project completion, extending to operational support and continuous performance improvement initiatives throughout the lifecycle of the plant. “This MoU marks the beginning of a promising long-term collaboration between Vulcan and ABB”, said Vulcan’s Managing Director and CEO, Cris Moreno. “We are delighted to be partnering with ABB to deliver world-leading solutions in electrical and automation for Phase One of our integrated renewable energy and ZERO CARBON LITHIUM™ Project and beyond, reflecting our joint commitment to innovation and sustainability.” “ABB’s MoU with Vulcan Energy Resources marks a significant partnership to jointly provide battery manufacturing expertise to the European market”, said Staffan Sodergard, Global Business Unit Battery Manufacturing Manager, ABB Process Industries. “This collaboration underscores ABB’s commitment towards advancing innovation and technology to the battery manufacturing industry”, he added. Upon completion of the MoU scope by 31 October 2024, Vulcan and ABB aim to advance negotiations towards a definitive agreement for the execution of Phase One of the ZERO CARBON LITHIUM™ and Renewable Energy Project activities.   Media inquiries: If you have questions please reach out to us under press@v-er.eu.

Vulcan Energy Resources Limited (Vulcan, ASX: VUL, FSE: VUL, the Company) is pleased to announce the Start of Production (SOP) of the first Lithium Chloride (LiCl) product at Vulcan’s Lithium Extraction Optimisation Plant (LEOP) in Landau, Germany. Highlights First LiCl produced from LEOP, heralding the first lithium chemicals domestically produced from a local source in Europe, for Europe. LEOP is showing strong early results with consistently over 90% (up to 95%) lithium extraction efficiency from its Adsorption-type Direct Lithium Extraction (A-DLE) unit, replicating what Vulcan has seen in its lab and pilot plant operations, and in line with its commercial plant expectations and Vulcan’s financing model. The SOP follows over three years and more than 10,000 hours of successful in-house A-DLE piloting by Vulcan, showing high lithium recoveries and thousands of cycles of adsorbent life with no material degradation. Representing a more than €40m investment by Vulcan, LEOP is an optimisation, operational training and product qualification testing facility, to enable operational readiness for when the Phase One commercial facility is completed. Once Phase One commercial production commences, it is estimated that Vulcan’s integrated renewable energy and ZERO CARBON LITHIUM™ business will produce enough lithium for approximately 500,000 EVs. Vulcan has proven that the sustainable lithium production process known as A-DLE, which accounts for 10% of global lithium production today, can be successfully applied in the Upper Rhine Valley Brine Field. The Upper Rhine Valley Brine Field in Europe contains Europe’s largest lithium resource and is also a source of geothermal renewable heat. This will allow Vulcan to produce its lithium using geothermal renewable energy, decarbonising the carbon footprint of lithium production for Battery Electric Vehicles. MD and CEO Cris Moreno stated, “This significant milestone marks a pivotal moment in Vulcan’s journey towards revolutionising domestic lithium raw material supply for Europe’s Battery industry. Vulcan’s LEOP facility is equipped with world-leading technology designed to showcase the efficiency of our A-DLE process and environmental benefits, whilst training our commercial production team in a pre-commercial environment as we build the Phase One commercial plant. It is encouraging to see LEOP deliver extraction efficiency in line with our expectations. I would like to thank our determined project execution and operations team for getting us to this landmark. We look forward to providing further updates on our Central Lithium Electrolysis Optimisation Plant (CLEOP) as we aim to produce Europe’s first fully integrated lithium battery chemicals from our own domestic resource, and also to providing updates on Phase One of the Zero Carbon Lithium™ Project, including financing, in the coming months.” Next steps The LiCl produced by LEOP represents the first lithium chemicals fully produced from a locally sourced raw material, i.e. extracted and then processed locally, at this plant scale in Europe. During hot commissioning and startup of LEOP, a generic aluminate-based lithium adsorbent was used, that has been used before in Vulcan’s lab and pilot plants. Vulcan’s internally developed high-performance aluminate-based lithium adsorbent, VULSORB®, will be used for the long-term operation. The next step will be conversion to a battery-grade lithium chemical in Vulcan’s downstream optimisation plant. The LiCl product (40% weight solution) produced from LEOP will be transported to Höchst Industrial Park Frankfurt, where Vulcan is currently completing its CLEOP which will convert the LiCl into battery grade Lithium Hydroxide Monohydrate (LHM). Once CLEOP is in operation, which is expected in mid-2024, Vulcan will have produced the first fully integrated lithium battery chemicals in Europe, including conversion to a battery-grade chemical, with the co-production of renewable energy and heat. These optimisation plants are comparable to Vulcan’s Phase One, commercial plants, with similar process flowsheets, with the commercial project aiming for 24,000 tonnes per annum of lithium hydroxide production capacity, the financing process of which is currently being led by BNP Paribas.   Media inquiries: Annabel Roedhammer Vice President Communications aroedhammer@v-er.eu +49 (0) 1511 410 1585

Vulcan Energy Resources Limited (Vulcan, ASX: VUL, FSE: VUL, the Company) is pleased to announce an update on the European Investment Bank (EIB)’s proposed involvement in the financing of Phase One of its ZERO CARBON LITHIUM™ Project. Highlights After preliminary due diligence, Vulcan’s Phase One ZERO CARBON LITHIUM™ Project appears potentially suitable for an EIB financing and the Project has advanced to the “Under Appraisal” stage. EIB’s proposed financing could amount to up to €500m (~A$825m), pending completion of due diligence, credit approval and legal agreement, and subject to EIB’s governing bodies approval. It is expected to serve as a cornerstone to complement ongoing debt funding discussions with leading export credit agencies and international banks. The EIB is the lending arm of the European Union (EU) and one of the largest climate finance providers. The EU seeks to provide support through a financial pathway toward sustainable and resilient domestic supply chain development for Europe to meet the EU’s goals to reduce net greenhouse gas emissions by 55% by 2030 and no net emissions of greenhouse gases by 2050. The Company has already started its debt and project level equity financing process, supported by BNP Paribas, following positive market sounding in 2023 from commercial banks, development banks, and government-backed export credit agencies. This included a A$200 million (~€120 million) non-binding Letter of Support from Export Finance Australia (EFA), and indication of strong ECA support from Canada, Italy, and France during 2023. Vulcan is developing the world’s first integrated renewable energy and ZERO CARBON LITHIUM™ Project in the Upper Rhine Valley, Germany, aiming to decarbonise the lithium supply chain for electric vehicles (EVs) and to supply local communities with renewable heat and power. Phase One of Vulcan’s ZERO CARBON LITHIUM™ Project (Project) is targeting the production of 24,000 tonnes per annum (tpa) of Lithium Hydroxide (LHM), equivalent to 500,000 Electric Vehicles. Vulcan will supply key auto and battery makers in the European supply chain, including its second-largest shareholder, Stellantis. Furthermore, the EIB notes that: The production of battery grade lithium LHM – a critical raw material (CRM) to be used in particular to for EV batteries – will contribute to the EU’s green transition and to the achievement of the European Green Deal ambition to become climate neutral by 2050. As such, the Project is in line with the EU Key Enabling Technologies and Strategic Energy Technology (SET) Plan objectives, contributing to increased EU autonomy and resilience in industrial ecosystems foremobility and batteries. The Project falls under Main Policy Priority area (Environment and resources / Sustainable critical raw materials value chain) for projects supporting the sustainable supply and processing of critical primary raw materials with the main objective of building production capacity for the purpose of large-scale competitive commercialisation. The lithium processing plants are eligible for climate action as mitigation. The output of the production plant is battery grade LiOH, which is used to produce battery active material (BAM). The project therefore falls within the scope of the activity ‘3.4 Manufacture of batteries’ in the Taxonomy Climate Delegated act and fulfils the substantial contribution criteria for climate change mitigation, since the ‘Manufacture of respective components (battery active materials, battery cells, casings and electronic components)’ is also covered. Therefore, the project is eligible under Article 309 point (c) common interest. The energy elements of the Project are in line with EU and EIB policy objectives on climate action (mitigation) and are also fully in line with national RE penetration targets for the electricity grid and for district heating. They will generate both environmental and health benefits, in particular by replacing fossil-fuels with the integration of low-carbon, more sustainable, baseload renewable sources. Mr. Cris Moreno, Managing Director and CEO stated: “We welcome the support of the EIB. This is a strong and tangible signal of confidence at the European level for the ZERO CARBON LITHIUMTM Project, and of its capability to enable a secure, domestic lithium supply chain for electric vehicle batteries for Europe. This progression in EIB’s financial appraisal is a positive step forward in the sequence of our debt and project level equity financing for Phase One of the Project, which is anticipated to create millions of tonnes of carbon avoidance in the EV supply chain in the years to come. “