Vulcan Energy (Vulcan, ASX: VUL, FSE: VUL, the Company) is pleased to announce it has signed the lease agreement for the site of the Company’s central lithium plant (CLP) in Höchst Industrial Park, Frankfurt, with site developer and operator, Infraserv Höchst (Infraserv). The CLP will produce sustainable, domestically sourced lithium hydroxide monohydrate (LHM) on a commercial scale for battery and automotive production in Europe. In addition to the lease agreement, agreements related to the development of the site, and the energy and electricity supply for the plant, were also signed. The signing of the lease follows official approval for the construction and operation of the CLP in September 2025. Once operational, high-purity lithium chloride will be processed into LHM at the CLP using green electricity in an electrolysis process. The process has been successfully carried out at the Central Lithium Electrolysis Optimisation Plant (CLEOP), which the Company also operates in the Höchst Industrial Park. The lithium chloride is extracted in an upstream process in Landau. The leased site covers an area of 77,517m2, with construction of the CLP scheduled to begin in the first quarter of 2026. Infraserv is a German site developer and operator for industrial parks, providing infrastructure, utilities, logistics, safety, and environmental services, with the Höchst Industrial Park one of Europe’s largest industrial hubs. Vulcan’s Managing Director and CEO, Cris Moreno, commented: “Securing the land for our central lithium plant is an important step towards implementing sustainable, domestic lithium production as part of Phase One Lionheart. “With the agreement now signed, we are laying the foundation for a long-term, future-oriented partnership with Infraserv. As a partner, Infraserv offers not only many years of experience, but also a first-class infrastructure facility for implementing Lionheart. “We look forward to working with Infraserv to advance sustainable lithium production in Germany and strengthen Europe’s independence from raw materials.” <ENDS> Further information Judith Buchan | Head of Corporate Communications | presse@v-er.eu.

Vulcan Energy (Vulcan, ASX: VUL, FSE: VUL, the Company) is pleased to announce it has commenced execution of Project Lionheart, by laying the foundation stone for its combined geothermal and lithium extraction plant (G-LEP), following an event in Landau, Germany. The event was attended by a number of political and business dignitaries, including Vice-President of the European Investment Bank, Nicola Beer, and comes just days after the Company announced securing a €2.2 billion (A$3.9 billion) financing package to fully fund the Phase One Lionheart Project in Germany’s Upper Rhine Valley. Phase One Lionheart involves the construction of an integrated lithium and renewable energy project targeting production capacity of 24,000 tonnes of lithium hydroxide monohydrate, enough for ca. 500,000 electric vehicle batteries per annum, with a co-product of 275 GWh of renewable power and 560 GWh of heat capacity per annum for local consumers, over an estimated 30-year project life. The G-LEP is a central component of Lionheart, which combines renewable energy generation with carbon-neutral lithium extraction from deep geothermal brine. The plant will produce a critical raw material in Germany, lithium, that is essential for the success of the electrification of the auto-industry, while also providing long-term, renewable district heating supply for the City of Landau. Vulcan’s Managing Director and CEO, Cris Moreno, commented: “The start of execution of the Phase One Lionheart Project is a momentous occasion for Vulcan Energy, and a significant milestone for European critical raw materials resilience. “The laying of the foundation stone at the GLEP is also an important step for the regional heat transition to renewable sources. Together with the City of Landau, we are sending a clear signal for sustainable heat supply and climate-friendly lithium production. “We are pleased with the interest and support for the Lionheart Project and are looking forward to making progress on the construction of the G-LEP.” <ENDS> Further information Judith Buchan | Head of Corporate Communications | presse@v-er.eu.

The European Investment Bank (EIB) has agreed to provide EUR 250 million in financing for Vulcan Energy’s pioneering EUR 2 billion Phase One Lionheart Project (the Project or Lionheart) in the Upper Rhine Valley, Germany. This will deliver Europe’s first integrated supply of battery-quality lithium while generating renewable energy and heat for local communities, advancing the EU’s green transformation and industrial competitiveness. Vulcan’s Project uses geothermal brine to produce battery-quality lithium for up to 500,000 electric vehicles each year, minimising carbon and environmental footprint. The EIB’s support demonstrates Europe’s commitment to secure responsible and independent critical raw materials supply chains, critical for the battery, automotive, and energy storage sectors. Nicola Beer, Vice President of the EIB, said: “With Vulcan’s Project, we are powering Europe’s mobility and energy storage future with materials produced sustainably at home. This is another landmark for EIB’s scaled-up support for the EU Critical Raw Materials Act and the Green Deal.” Vulcan Energy’s Managing Director and CEO Cris Moreno​​ said: “The EIB’s participation underlines the significance of developing a European, sustainable lithium supply chain while supporting local innovation, employment, and a carbon-neutral future.” Commercial construction of Vulcan’s Phase One Lionheart Project is expected to take 2.5 years from completion of financing, with targeted first production in 2028, and will help enable the region’s climate and industrial ambitions. Securing lithium for electric vehicle battery production Vulcan’s Phase One Lionheart Project in Landau and Frankfurt-Höchst, Germany, aims to produce 24,000 tonnes of lithium hydroxide monohydrate (LHM) per year—enough to supply batteries for about 500,000 electric vehicles, all with zero fossil fuels in the production process. This milestone establishes one of the world’s most sustainable, scalable, and cost-efficient lithium supply chains and advances Germany’s raw material independence. Vulcan’s integrated geothermal and lithium value chain extracts lithium chloride (LiCl) directly from naturally heated subterranean brine while simultaneously producing renewable geothermal energy for local communities and industry. Vulcan’s upstream Lithium Electrolysis Optimisation Plant (LEOP), operational since April 2024, delivered Europe’s first fully sustainable, high-purity lithium chloride—subsequently refined into battery-quality LHM at the company’s downstream Central Lithium Electrolysis Optimisation Plant (CLEOP) in Frankfurt, supporting clean mobility and climate action across the continent. The Phase One Lionheart Project will involve building larger versions of these plants to achieve the planned production capacity. Providing heat to Landau Vulcan’s Phase One Lionheart Project is already delivering tangible climate and energy benefits by supplying geothermal renewable heat directly to German municipal energy provider EnergieSüdwest AG (ESW) in Landau. Using deep geothermal wells, Vulcan’s operations provide clean, sustainable heat into ESW’s network, supporting several district heating systems across the city. This new geothermal heating initiative reduces the use of fossil fuels in Landau’s district heating, representing a significant first step toward a long-term and continuous transition to renewable energy for households and businesses. Supported by a major grant from Germany’s Federal Ministry of Economics and Climate Protection, Vulcan’s HEAT4LANDAU Project plans to expand production to deliver sustainable, renewable geothermal heat to Landau and surrounding communities, underpinning Landau’s ambitions for climate-neutral, locally sourced energy and contributing to Europe’s broader climate protection objectives EIB strengthening support for critical raw materials The EIB is strengthening support for new investment to securing Europe’s future and supporting critical raw materials value chains through the EIB Critical Raw Materials Strategic Initiative, targeting financing and advisory support for European projects that deliver secure, sustainable supply of battery-grade minerals. By backing Vulcan’s integrated lithium and geothermal energy development, the EIB advances the EU’s Critical Raw Materials Act objectives—helping Europe diversify supply, promote responsible sourcing, and underpin the clean transition. This investment demonstrates how EIB is working with industry and international partners to ensure European industries and societies have reliable access to the resources needed for long-term resilience and competitiveness. Global financial institutions backing European critical raw material investment The EIB’s investment forms part of a wider international financing effort for the Lionheart Project, with commitments also provided by a consortium of leading financial institutions. Alongside the EIB, the Project is being supported by ABN AMRO, Unicredit, Natixis, ING, BNP Paribas, KommunalKredit, OCBC, Export Finance Australia, Export Development Canada, Export and Investment Fund of Denmark (EIFO), BPI France, and SACE. This collective participation by major commercial banks and export credit agencies underlines the strong confidence of the global financial community in Vulcan’s integrated approach to sustainable lithium production and marks a milestone for multi-lateral collaboration in supporting Europe’s clean technology value chain. <ENDS> Background information EIB The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world. The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security. All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment. Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers. Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average. High-quality, up-to-date photos of our headquarters for media use are available here. Vulcan Energy Vulcan Energy (ASX: VUL, FSE: VUL) is building the world’s first carbon neutral, integrated lithium and renewable energy business to decarbonise battery production. Vulcan’s Lionheart Project, located in the Upper Rhine Valley Brine Field bordering Germany and France, is the largest lithium resource in Europe1 and a tier-one lithium project globally. Harnessing natural heat to produce lithium from sub-surface brines and to power conversion to battery-quality material and using its in-house industry-leading technology VULSORB®, Vulcan is building a local, low-cost source of sustainable lithium for European electric vehicle batteries. For more information, please email: presse@v-er.eu.

Vulcan Energy (Vulcan, ASX: VUL, FSE: VUL, the Company) is pleased to provide an update on its Phase One Lionheart Project (the Project), providing integrated lithium and renewable energy production for the battery electric vehicle (EV) industry in Europe. Following discussions with offtake partners, and working with industry experts, the Company has finalised a qualification strategy to pre-qualify its material prior to entering full commercial production, as a means of fast-tracking the start of sales of qualified, battery-quality lithium hydroxide monohydrate (LHM) material. This involved the production and dispatch of battery-quality LHM material, branded V-Li0N™, to offtake partners, from Vulcan’s qualification plant, prior to the full commercial plant completion and start of production Previous internal and external lab analysis indicates that the Company’s product is well within battery-quality specification. Further updates will be provided as qualification progresses through the various stages Vulcan commenced production at its qualification plant, designated CLEOP, on 8 November 2024, and achieved first battery-quality V-Li0N™ on 13 January 2025 This V-Li0N™ product represents Europe’s first fully domestically produced battery-quality lithium hydroxide, from raw material to final product, an important milestone in securing Europe’s critical raw material supply chain resilience The V-Li0N™ product was also produced using sustainable methods, including A-DLE for extraction and fully electrified production of LHM using electrolysis. It was sourced from deep, heated brines, with a co-product of geothermal renewable energy production for local communities. Managing Director and CEO, Cris Moreno, commented: “The finalisation of our product qualification strategy is an important step in our aim to produce Europe’s first fully domestically produced battery-quality LHM. Our discussions with offtake partners and industry experts continue to be constructive and the process towards full product qualification is progressing well. The qualification process represents a key moment in securing Europe’s critical raw material supply chain resilience.”   Media Judith Buchan | Communications Lead – APAC | jbuchan@v-er.eu | +61 411 597 326

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