Vulcan Energy is pleased to announce it has commenced supply of geothermal renewable heat to German municipal energy supplier, EnergieSüdwest AG (ESW), from the Company’s operations in Landau, Germany. This forms part of the Company’s integrated lithium and renewable energy development, Phase One Lionheart Project, and reflects Germany and Europe’s broader commitment to develop local, renewable sources of energy. To read the full announcement, go to https://bit.ly/43eVGCT

The European Commission’s much anticipated Clean Industrial Plan marks a significant step towards securing a resilient and decarbonised industrial future. Designed to build on the Critical Raw Materials Act, the plan introduces a joint procurement platform for critical raw materials, ensuring a sustainable supply for EU industries, including automotive manufacturing. This initiative aims to mitigate reliance on foreign supply chains – particularly pertinent given China’s dominance in critical raw materials supply chains, including that of lithium – and prioritise European suppliers in public procurement processes, creating new opportunities for companies aligned with low-carbon production. As the EU shifts towards clean production and circular economy, new measures – such as labelling, mandates, and financial incentives – will actively reward early movers in decarbonisation. The Clean Industrial Plan directly supports energy-intensive industries and key manufacturing sites, helping to decarbonise the highest CO2-emitting facilities. With the production of its carbon neutral lithium hydroxide, Vulcan aligns with the EU’s focus on rewarding low-carbon product suppliers. Our agreement with BASF – one of the world’s largest chemical producers – to decarbonise their global headquarters, places Vulcan at the heart of the EU’s industrial transformation. To read more about the Clean Industrial Plan, go to https://bit.ly/43ejx6Z.

Vulcan Energy is pleased to announce it has received the approvals to commence seismic surveys for its geothermal heat development project in the Ludwigshafen region of Germany, which the Company is undertaking in partnership with the world’s largest chemicals producer, BASF SE (BASF). This follows the signing of the agreement with BASF in November 2024 to collaborate on a renewable development to supply BASF’s Verbund site Ludwigshafen with baseload heat. The BASF agreement also includes the potential construction of a commercial Lithium Extraction Plant in Ludwigshafen, BASF’s headquarters and home to the largest integrated chemical complex globally. Highlights The official approvals have now been obtained for the first stage of development, with two dimensional (2D) seismic survey measurements to be carried out from late February to early March The survey will be conducted on approximately 75 kilometresof roadway withinVorderpfalz, a region on the western border of Germany’s Upper Rhine ValleyBrine Field(URVBF), including the towns and municipalities of Bad Dürkheim, Deidesheim, Mutterstadt, Frankenthal and Ludwigshafen The results of the 2D seismic survey will determine optimal location/s for the next stage of development and will be followed by a 3D seismic survey. The Company will be responsible for coordinating the planning of the 2D and 3D seismic surveys, the results of which will be used to plan locations for geothermal and lithium production/re-injection wells The development aims to utilise geothermal energy from the URVBF to provide renewable heat for BASF’s main plant In addition, the development aims to provide a sustainable district heating supply for the Ludwigshafen and Frankenthal areas, with the Company also planning to utilise the extracted heated brine to produce sustainable lithium The Company will seek to replicate the development model across the URVBF in future phases, building affordable renewable heating production to contribute to the decarbonisationof European industry and the public heating sector. The same brine from the same deep geothermal wells can also then be utilised to produce lithium for lithium-ion batteries. Vulcan’s Managing Director and CEO, Cris Moreno, commented: “Securingthe necessary approvals for the first stage of developmentis an important step in further advancing our geothermal heat and lithiumprojectin the Ludwigshafen area.Together with BASF, we will be utilising geothermal energy in sucha way that ensures the area has access to a sustainable, climate-neutral energy source. “Critically, this development reflects our broader integrated business approach, whereby we will seek to replicate this model across the URVBF through strategic partnerships with large, industrial companies like BASF. This approach not only drives sustainable energy supply in the regions but heavily contributes to Europe’s transition to green electromobility.” BASF Senior Vice President -Infrastructure at Ludwigshafen, Tilmann Hezel, said: “This project represents one of the most important transformation projects on our site, which will potentially cover a significant proportion of our future energy requirements without the use of fossil fuels.” Media Annabel Roedhammer | Vice President Communications | aroedhammer@v-er.eu | +49 1511 410 1585 Judith Buchan | Communications Lead – APAC | jbuchan@v-er.eu | +61 411 597 326

Vulcan Energy is pleased to report the start of execution works on its integrated Phase One integrated renewable energy and lithium project, with mobilisation of its V20 drilling rig (V20) to the Phase One Schleidberg well site near Landau, Germany. The Company’s Phase One LionheartProject targets production of around 24,000 tonnes per annum lithium hydroxide monohydrate for electric vehicle batteries, as well as renewable heating and power production, from hot, lithium-rich brines in the Upper Rhine Valley Brine Field. Increasing brine production from deep wells to augment Vulcan’s existing brine production is a key part of Phase One. Key highlights: After successful completion of key infrastructure works, including well pad construction, crew camp establishment, and build of access roads, mobilisation of Vulcan’s electric V20 rig has commenced by Vulcan’s in-house geothermal well execution company, Vercana The V20 is a 2500 horsepowerdrilling rig and has 550 tonnes of hook load capacity, and is equipped with 7500 psi fluid pressure system The Special Operations Plan and transport permits for the V20 rig were approved by the Mining Authority in Q4 2024, with additional permits granted for specific rig components During mobilisation, increased transport activity will be observed as equipment and associated project components are delivered to site. The Company has engaged proactively with local stakeholders for smooth execution and minimal community disruption Following assembly, routine commissioning procedures and technical testing will be carried out for the safe operation of V20 and associated equipment. Well execution operations are currently scheduled to commence in Q2 2025, subject to successful commissioning of the rig Vercana’s other electric drilling rig, V10, will be mobilised to Vulcan’s new planned Trappelberg well site, after Vulcan’s Phase One financing closes. Managing Director and CEO, Cris Moreno, commented: “The mobilisation of the V20 drilling rig is not only an important milestone for our Phase One Lionheart Project, but in Vulcan’s mission to establish a sustainable, European-based lithium supply chain. With two fully refurbished, state-of-the-art rigs and hugely experienced team, Vercana is well positioned to safely deliver new geothermal and lithium production and injection wells for many years to come in Central Europe, delivering both baseload renewable heating and lithium production for electric vehicle batteries. We are entering the next phase of development with a strong focus on safety, execution quality, operational excellence, and will need to have close collaboration with all key partners and stakeholders to assist us to achieve this goal. We look forward to keeping our shareholders and investors informed as we further progress towards the commencement of drilling in the coming months. As lithium demand continues to grow, reducing Europe’s dependence on imported raw materials is critical. By developing a fully integrated, sustainable lithium supply chain, Vulcan will be a keycontributor to Europe’s energy and mobility transition.” Media Annabel Roedhammer | Vice President Communications | aroedhammer@v-er.eu | +49 1511 410 1585 Judith Buchan | Communications Lead – APAC | jbuchan@v-er.eu | +61 411 597 326

German Chancellor Olaf Scholz visited Vulcan’s Lithium Extraction Optimisation Plant (LEOP) in Landau, Germany, along with the neighbouring geothermal power plant. During his visit, he emphasised his party’s commitment to the green energy transition and a secure, sustainable supply of raw materials for Germany. Key highlights German Chancellor Olaf Scholz toured Vulcan’s upstream operations, including the geothermal power plant and Adsorption-type Direct Lithium Extraction (A-DLE) optimisation plant (LEOP) in Landau, Germany, accompanied by Rhineland-Palatinate’s Prime Minister, Alexander Schweitzer Vulcan’s integrated geothermal and lithium value chain uses naturally heated brine to extract lithium chloride (LiCl) while producing geothermal renewable energy for local communities and industry Vulcan’s LEOP, operational since April 2024, produces Europe’s first fully sustainable lithium chloride. The high-purity LiCl is processed into battery-quality lithium hydroxide monohydrate (LHM) at Vulcan’s downstream Central Lithium Electrolysis Optimisation Plant (CLEOP) in Frankfurt, Germany Scholz emphasised the need for a secure domestic lithium value chain in Germany and Europe and reaffirmed his government’s commitment to support the expansion of geothermal energy, targeting 100 new geothermal projects by 2030 Vulcan’s Phase One “Lionheart” project aims to produce approximately 24,000 tonnes per year of LHM — enough to supply around 500,000 electric vehicles annually — with zero fossil fuels in the production process. This establishes one of the world’s most sustainable, cost-efficient, and scalable lithium supply chains, helping secure Germany’s raw material independence. German Chancellor, Olaf Scholz, commented: “The idea that we have to import lithium from many countries far away from us keeps cropping up, and we are dependent on those who sell it to us. In fact, in Europe, but especially in Germany, we have the foundations to be able to produce this raw material supply ourselves. In addition, we have a great deal of untapped potential for a sustainable heat supply, such as deep geothermal energy, which could supply both households and industry with renewable energy. This technology is trendsetting. As the German government, we actively support this innovative approach.” Managing Director and CEO, Cris Moreno, commented: “Vulcan’s mission is to deliver domestic and sustainable lithium to support Europe’s green energy and mobility transition. The Chancellor’s visit reaffirms the importance of our Lionheart Project as the most advanced integrated lithium and renewable energy project in Europe and gives us additional confidence that our work aligns with key policy priorities.”   Media Annabel Roedhammer | Vice President Communications | aroedhammer@v-er.eu | +49 1511 410 1585 Judith Buchan | Communications Lead – APAC | jbuchan@v-er.eu | +61 411 597 326 Imagery credit: Uli Deck Artis_Photographie

Vulcan Energy Resources Limited (Vulcan, ASX: VUL, FSE: VUL, the Company) is pleased to announce that production of Lithium Hydroxide Monohydrate (LHM) has met product purity specifications attheCompany’s downstream Central Lithium Electrolysis Optimisation Plant (CLEOP) at the Industrial Park Höchst, Frankfurt, Germany. Key highlights Vulcan has produced the first battery quality LHM at its downstream optimisation plant, by processing high purity lithium chloride concentrate extracted from brine at the upstream, Adsorption-type Direct Lithium Extraction (A-DLE) optimisation plant (LEOP) in Landau This represents the first fully integrated, battery-quality LHM produced in Europe, from raw material to final product. The product is fully domestically produced using an integrated and secure supply chain, including upstream raw material production from the LEOP, strengthening Europe’s raw material independence and advancing the green mobility transition The achievement of battery quality LHM comes just weeks after operations first started at CLEOP in November 2024 Battery quality LHM from CLEOP will be used in ongoing qualification processes with Vulcan’s European focused offtakers, including Stellantis, Renault, LG and Umicore, whilst Vulcan’s Phase One project is being constructed The Phase One integration of upstream A-DLE production from deep, naturally heated brine reservoirs, with downstream conversion to LHM using electricity and no fossil fuels in the process, establishes one of the world’s most sustainable, cost-efficient and scalable lithium supply chains In addition, the Phase One location in Central Europe is in close proximity to end-user automotive and battery customers, further enhancing the cost competitiveness and low carbon footprint of Vulcan’s operations In Phase One “Lionheart” Vulcan is targeting the supply of approximately 24,000 tonnes per annum of LHM, enough for approximately 500,000 electric vehicles (EVs) per annum, from the Company’s commercial plant that is set to be constructed in the same Industrial Park as the Company’s optimisation plant. Managing Director and CEO, Cris Moreno, commented: “Congratulations to the entire Vulcan team on achieving the first battery quality lithium hydroxide monohydrate production at our downstream optimisation plant. This is a major milestone for Vulcan and demonstrates the final step in establishing a first fully domestic and integrated supply chain in Europe producing battery grade LHM from a local resource. I am really proud of the Vulcan project and the operations team on how quickly they have moved from start of operations in November to first production of pure LHM which further exemplifies Vulcan’s position as Europe’s most advanced integrated lithium and renewable energy project.”   Media Annabel Roedhammer | Vice President Communications | aroedhammer@v-er.eu | +49 1511 410 1585 Judith Buchan | Communications Lead – APAC | jbuchan@v-er.eu | +61 411 597 326 Imagery credit: Uli Deck Artis_Photographie

Dear Shareholders and Vulcan Community, As 2024 comes to a close, I am both proud and inspired by the remarkable milestones we have achieved together this year. It has been a transformative period for Vulcan, marked by significant progress in our Phase One Lionheart Project and beyond. These advancements are a testament to the vision, resilience, and commitment of our OneVulcan team and partners. Let us take a moment to reflect on this extraordinary year. As the Phase One Lionheart Project evolves, so does our OneVulcan team and its leadership. This year, we expanded our team to meet critical delivery milestones and welcomed new leadership. We were pleased to welcome Felicity Gooding as our Group Chief Financial Officer. Felicity’s expertise has been instrumental as we finalise the close of our Phase One debt financing process. In September, we saw important changes to our Board with the appointment of Angus Barker as a Non-Executive Director. At the same time, we bid farewell to Gavin Rezos, Ranya Alkadamani, and Annie Liu, whose vision and dedication have been pivotal in shaping Vulcan’s journey. Their contributions have laid a solid foundation for the future. Starting 1 January 2025, Felicity Gooding will also commence as an Executive Director, and Angus Barker will assume the roles of Lead Independent Director and Deputy Chair of our board. One of our defining achievements this last week of the working year has been the signing of an €879m conditional debt commitment letter with Export Finance Australia and a group of seven commercial banks for the financing of Vulcan’s Phase One Lionheart Project.  In addition, the European Investments Bank has approved up to €500 million in financing — a major endorsement of Vulcan’s vision and impact. Earlier this month, we announced the successful completion of a fully underwritten institutional placement and concurrent strategic placement totalling €100m (A$164m) to commence execution of the critical path scope for its Phase One Lionheart Project. This financial injection further complimented the strategic investments of €40 million (~A$65 million) by CIMIC Group and Hancock Prospecting earlier this year. Our Green Financing Framework, developed with Natixis CIB, received a “Dark Green” rating in October — the highest ever awarded to a metals and mining company globally. This recognition underscores our leadership in sustainability and our commitment to responsible financing. Operationally, 2024 has been groundbreaking. We produced our first lithium chloride in April at the Lithium Extraction Optimisation Plant (LEOP) in Landau — a first for Europe. By November, we celebrated the production of the first fully sustainable lithium hydroxide at the Central Lithium Electrolysis Optimisation Plant (CLEOP) in Frankfurt Höchst, completing the integrated supply chain within Europe. These milestones demonstrate Vulcan’s position as Europe’s most advanced integrated lithium producer and our unique ability to deliver on the promise of a circular and sustainable lithium supply chain. In November, the German Federal Ministry of Economics and Climate Protection approved up to €100 million in funding for our HEAT4LANDAU Project, which will help deliver the geothermal parts of our Phase One project. This grant reinforces our position as a key player in Europe’s energy transition and strengthens our financial strategy as we head into 2025. Furthermore, with the City of Landau, we have signed an optional agreement to secure the property in the D12 development plan. The City of Landau had already given a clear signal of support for the project in December 2023 and approved the D12 development plan in June 2024. With the now-signed option agreement, Vulcan has secured the necessary basis for the preparation of the construction work. We’ve also formed several new strategic partnerships, including MoUs with ABB, Jordproxa, and AVEVA, ensuring a strong foundation for future development. In November, we announced an exciting partnership with BASF to explore the use of geothermal energy for base load power requirements at their Ludwigshafen site. Our focus remains steadfast on our Phase One Lionheart execution, in parallel though we have commenced global licencing of lithium extraction technology. By commercialising VULSORB® as a leading-edge technological asset, Vulcan is strengthening its decarbonisation efforts beyond its current use in the Upper Rhine Valley Brine Field and is setting the standard for future A-DLE projects globally.  The commercialisation of VULSORB® will start to provide Vulcan with an additional revenue source and gain exposure to other lithium production during Phase One project construction. As we close the year, one last monumental achievement stands out: the production of our first lithium hydroxide monohydrate this week at CLEOP, which has been years in the making and represents the first fully domestic lithium supply chain in Europe, from brine resource to battery grade material. This milestone plus all the others mentioned above, mark the culmination of a year of hard work and the dawn of a new chapter for Vulcan. To our shareholders and partners: Thank you for your unwavering support and belief in our vision. Together, we are reshaping the future of lithium production and renewable energy. I wish you and your loved ones a Merry Christmas and a Happy New Year. I look forward to sharing more milestones and successes with you in 2025. Warm regards, Cris Moreno Managing Director & CEO Vulcan Energy

Vulcan Energy (Vulcan, ASX: VUL, FSE: VUL, the Company) is pleased to announce the signing of a €879m conditional debt commitment letter with Export Finance Australia and a group of seven commercial banks for the financing of Vulcan’s Phase One Lionheart Project (the Project). Key financing highlights Vulcan achieves significant step towards the financing of the Project, with €879m of conditional commitments received from Export Finance Australia (EFA) and seven commercial banks EFA and the commercial banks have executed a conditional commitment letter, together with a credit pre-approved term sheet setting out the key terms and conditions of the proposed debt financing This conditional commitment follows the additional approval received from the European Investment Bank’s (EIB) Board to participate in the Project financing, as announced on 12 December 20241 Vulcan is seeking additional approvals from Export Development Canada (EDC), Bpifrance AE (Bpifrance) and SACE to participate in the Project financing, to reach a target total debt package of approximately €1.5bn – €1.6bn (Total Debt Requirement). It is customary for government-backed Export Credit Agencies (ECA) to seek approval at the time of signing final finance documentation which is expected in the first half of 2025 The continued and strong involvement of the EIB, ECAs and commercial banks highlights the importance of Vulcan’s Project both to Europe’s critical raw materials supply chain resilience for electric vehicles (EVs), and to the European energy transition. Debt funding details EFA and the commercial lending group comprised of seven banks have executed a conditional debt commitment letter, along with a credit approved financing term sheet, for the proposed debt financing for the Project of approximately €1.5bn – €1.6bn. The conditional commitment letter confirms the participation of EFA for €120m through direct lending (refer to Vulcan’s ASX announcement on 9 December 2024), as well as the participation of seven commercial banks. These commitments are intended to be complemented by additional commitments from the EIB (refer to Vulcan’s ASX announcement on 12 December 2024) and the following ECAs from whom the Company has received indications of strong support to date: Bpifrance (untied debt guarantee), EDC (direct lending), and SACE (tied debt guarantee). Additional commercial banks are expected to join the pool of banks in the first half of 2025. The commercial bank group consists of (i) the four Structuring Banks (ABN AMRO, ING, Natixis CIB and UniCredit), which have been engaged in the financing structuring process, alongside the EIB and ECAs (Bpifrance AE, EDC, EFA, and SACE), since May 2024, as well as (ii) three additional international project finance banks which joined the financing process since early October. The key proposed terms of the debt facilities, as set out in the conditional commitment letter and term sheet, are set out in Schedule 1. All debt facilities and credit approvals remain conditional at this stage, including completion of due diligence, final credit committees and boards approvals, execution of the full form legal documentation, and other conditions precedent(including those set out in Schedule 1). The terms of the commitment letter and the debt facilities are conditional on approval by SACE and Bpifrance as cover providers in respect of their applicable covered facilities and approval by EDC of its entry into its applicable facility. Conditional commitments under the commitment letter are not equal to the Total Debt Requirement, and such commitments are further conditional on Vulcan obtaining commitments from further financial institutions to meet the Total Debt Requirement. Project funding requirements According to Vulcan’s models and estimates, the total funding required for the Project (including financing costs, owners’ costs, debt service reserve account (DSRA), ramp up and contingencies) is expected to amount to approximately €2.2bn including capital expenditure of approximately €1.4bn. Total funding requirements include financing costs of approximately €270m, additional contingency and standby facilities required by financiers of approximately €241m, owners’ costs of approximately €180m and DSRA and ramp up costs of approximately €103m. Vulcan intends to fund the Project through a combination of debt financing at the Project level as well as equity financing at the Project and Company level. Refer to the Company’s announcements released to ASX on 11 December 2024 (including slide 8 of the investor presentation) for further details regarding the envisaged financing arrangements for the Project. The conditional debt commitments announced today represent a significant step in the Company obtaining the envisaged debt financing. As part of the due diligence process undertaken by the Lenders, the Lenders’ Technical Advisor (LTA) RPMGlobal reviewed and recommended certain immaterial adjustments to the Base Case financial model, to reach a robust business case including conservative production and cost assumptions. The LTA recommended the inclusion of an additional contingency in the Capex, as well as the Standby Budget, which is funded by debt and equity according to the 60:40 gearing ratio (unspent in the Base Case). These recommendations from the LTA are reflected in the End of Validation (EOV) project economics described in the Company’s announcements on 11 December 2024 and in the estimated funding requirements described above. Vulcan’s Group Chief Financial Officer, Felicity Gooding, commented: “The debt commitment letter is a significant step in our financing of the Project, and we will continue to progress discussions over the coming period. The strong level of support shown by the EIB, ECAs and commercial banks underscores the integrity of the Project and its standing as Europe’s leading integrated lithium and renewable energy project. We look forward to maintaining our momentum into next year as we aim to finalise the financing package and will be keeping our shareholders informed accordingly.” BNP Paribas is acting as debt advisor and White & Case as legal advisor to Vulcan.   Media Annabel Roedhammer | Vice President Communications | aroedhammer@v-er.eu | +49 1511 410 1585 Judith Buchan | Communications Lead – APAC | jbuchan@v-er.eu | +61 411 597 326

Vulcan Energy (Vulcan, ASX: VUL, FSE: VUL, the Company) is pleased to announce an update on the proposed involvement of the European Investment Bank (EIB) in the Company’s debt financing process, with the EIB Board approving its participation. Highlights On 23 February 2024, the Company announced its Phase One Project was potentially suitable for EIB financing and had advanced to the Under Appraisal stage of the process. The EIB Board has now approved its participation, with the financing potentially amounting to up to €500m (~A$819m), pending completion of final due diligence, signing of legal documentation and final internal approval The potential €500m financing envelope can be split into an EIB direct uncovered facility, funding under export credit agency (ECA) covered facilities and as liquidity lines for participating commercial banks The EIB’s involvement is expected to serve as a cornerstone to complement the ongoing Phase One funding process. The Company is advancing its financing process, supported by BNP Paribas as financial advisor, following strong engagement throughout 2024 with commercial banks and government-backed ECAs. Vulcan has already received a €120m (~A$196m) commitment from Export Finance Australia, as well as an indication of strong support from Export Development Canada, Bpifrance Assurance Export, and SACE The EIB is the lending arm of the European Union (EU) and one of the largest climate finance providers globally. The EU seeks to provide support through a financial pathway toward sustainable and resilient domestic supply chain development for Europe. The EU is aiming to reduce net greenhouse gas emissions by 55% by 2030 and no net emissions of greenhouse gases by 2050 Vulcan is developing the world’s first integrated renewable energy and lithium project in the Upper Rhine Valley, Germany, aiming to decarbonise the lithium supply chain for electric vehicles (EVs) while supplying local communities with renewable heat and power The Phase One Project is targeting the production of 24,000 tonnes per annum of Lithium Hydroxide Monohydrate (LHM), equivalent to approximately 500,000 EVs. Vulcan will supply key auto and battery makers in the European supply chain, including its fourth largest shareholder, Stellantis. Group Chief Financial Officer, Felicity Gooding, commented:“Approval by the EIB to participate in Vulcan’s debt financing process strongly reflects the significance of this project in Germany and broader Europe.” “Our aim of building a fully domestic, sustainable lithium supply chain in Europe, for Europe, ultimately requires the support of financiers such as the EIB, and confirmation of its participation is a welcome and timely development.” “We look forward to providing further updates to our shareholders on the Project.”   Media Annabel Roedhammer | Vice President Communications | aroedhammer@v-er.eu | +49 1511 410 1585 Judith Buchan | Communications Lead – APAC | jbuchan@v-er.eu | +61 411 597 326