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A1 Lithium’s flagship project, The Green River Lithium Project is in the Paradox Basin, Utah, USA. The Paradox Basin is potentially the largest and most cost-effective brine resource in the country hosting large volumes of brines rich in Lithium and exhibiting a low impurities ratio. A1 Lithium is a wholly owned U.S. subsidiary of Anson Resources (ASX: ASN) August 2026 1 Anson Resources | A1 Lithium Conceptual 3D Image of 10ktpa LCE Plant in Green River, UT Investor Update Webinar
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Disclaimer and Important Notice 2 The information contained in this confidential document ("Presentation") has been prepared by Anson Resources Limited (the "Company"). It has not been fully verified and is subject to material updating, revision and further amendment. The Information many not be distributed to others at any time without the prior written consent of the Company (including the presentation) any copies thereof, and will destroy all analysis, complications and other documents or writings whatsoever containing or reflecting any such material. While the information contained herein has been prepared in good faith, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers give, have given or have authority to give, any representations or warranties (express or implied) as to, or in relation to, the accuracy, reliability or completeness of the information in this Presentation, or any revision thereof, or of any other written or oral information made or to be made available to any interested party or its advisers (all such information being referred to as "Information") and liability therefore is expressly disclaimed. Accordingly, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers take any responsibility for, or will accept any liability whether direct or indirect, express or implied, contractual, tortuous, statutory or otherwise, in respect of, the accuracy or completeness of the Information or for any of the opinions contained herein or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this Presentation. Neither the issue of this Presentation nor any part of its contents is to be taken as any form of commitment on the part of the Company to proceed with any transaction and the right is reserved to terminate any discussions or negotiations with any prospective investors. In no circumstances will the Company be responsible for any costs, losses or expenses incurred in connection with any appraisal or investigation of the Company. In furnishing this Presentation, the Company does not undertake or agree to any obligation to provide the recipient with access to any additional information or to update this Presentation or to correct any inaccuracies in, or omissions from, this Presentation which may become apparent. This Presentation should not be considered as the giving of investment advice by the Company or any of its shareholders, directors, officers, agents, employees or advisers. Each party to whom this Presentation is made available must make its own independent assessment of the Company after making such investigations and taking such advice as may be deemed necessary. In particular, any estimates or projections or opinions contained herein necessarily involve significant elements of subjective judgment, analysis and assumptions and each recipient should satisfy itself in relation to such matters. This Presentation includes certain statements that may be deemed “forward-looking statements”. All statements in this discussion, other than statements of historical facts, that address future activities and events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in forward-looking statements. Competent Person’s Statement Competent Person’s Statement 1: The information in this announcement that relates to exploration results and geology is based on information compiled and/or reviewed by Mr Greg Knox, a member in good standing of the Australasian Institute of Mining and Metallurgy. Mr Knox is a geologist who has sufficient experience which is relevant to the style of mineralization under consideration and to the activity being undertaken to qualify as a “Competent Person”, as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves and consents to the inclusion in this report of the matters based on information in the form and context in which they appear. Mr Knox is a director of Anson. Note All $’s in this presentation are US$’s except where otherwise noted.
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AGENDA 3 • Welcome and Introductions • Business and Operational Update • Recent Developments • Finance Review • Yellow Cat Status and Milestones • Questions & Answers
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On Today’s Call Bruce Richardson Executive Chairman and Chief Executive Officer Bruce Richardson has led Anson Resources since 2008 and brings more than 26 years of senior management and director-level experience across exploration, mining and production-based operations. Throughout his career, he has successfully advanced multiple exploration projects into commercial production and has raised more than A$230 million to fund their development. As Chief Executive Officer of Top Iron Ltd, Bruce led the development of the Mummaloo Iron Ore Project from its foundation through exploration, permitting, financing and construction to first production and shipment of iron ore. Together with fellow Board member Greg Knox, Bruce was the first to identify the lithium brine opportunity in Utah’s Paradox Basin. Since acquiring the Green River site in September 2023, he has overseen the rapid advancement of the Green River Lithium Project through major technical, commercial and strategic milestones. Bruce also has extensive international business and government experience, including more than 10 years in public- sector trade roles in China and Taiwan. He is fluent in Mandarin and has spent decades developing commercial and political relationships across international markets. Greg Knox Executive Director Greg Knox is a qualified geologist with more than 30 years of experience in resource evaluation, exploration, permitting, mine development and mining operations across Australia and international markets. He has worked as both an exploration and mining geologist and has significant experience advancing projects from grassroots exploration through to development and production. Together with Bruce Richardson, Greg was among the first to identify the lithium brine opportunity in Utah’s Paradox Basin and has played a key technical role in the rapid development of the Green River Lithium Project since the site was acquired in September 2023. Greg is a member of the Australasian Institute of Mining and Metallurgy and is a qualified “Competent Person” under the 2012 JORC Code. He has advised Anson on mining opportunities across several jurisdictions, including the USA, Brazil, Guatemala, the Philippines and South Africa. Tim Murray Executive Director Tim Murray is responsible for commercial relationships including offtake, engineering and strategic partnerships. Working closely with Bruce Richardson, Tim has been instrumental in establishing and strengthening relationships with major strategic partners, including POSCO Holdings and LG Energy Solution. Tim brings strong commercial and project execution capability, with a focus on strategic partnerships, funding pathways, stakeholder engagement and the transition of Anson’s lithium assets from exploration and development toward commercialization. His work has been central to positioning Green River as a strategically important U.S. lithium project with strong support from global battery supply chain participants. Management Matthew Beattie Chief Financial Officer Matthew Beattie is a chartered accountant with extensive Australian and international experience across finance, banking and the resources sector. He has held senior management roles in private equity funds and at Rio Tinto, where he focused on the delivery of international exploration projects. Matthew began his career in tax at PwC. As CFO, Matthew oversees Anson’s financial reporting, corporate finance and governance functions. He works closely with the Company’s auditors, Ernst & Young, to support rigorous financial controls, transparent reporting and strong shareholder confidence in the Company’s financial governance. William Maze Investor Relations | Capital Markets Will brings more than 20 years of Wall Street experience to Anson, including deep relationships across institutional investors, banks, and the broader global energy and commodities sectors. He has extensive experience as an energy analyst, portfolio manager and communications adviser at major global financial institutions. Will has been recognized by The Wall Street Journal as “Best on the Street” for his stock selection and has managed a US$2 billion, award-winning hedged portfolio. At Anson, Will supports investor relations, financial markets engagement, capital formation and shareholder communications. 4
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Mission Statement To develop the Green River Lithium Project into a multi-phase operation capable of supplying approximately 10% of North America's lithium demand, strengthening North America's domestic supply chain and creating long-term value for shareholders and strategic partners. 2029 Vision • 10,000+ tpa LCE initial production with planned phase 21 • ~10% of projected North American lithium demand • Low-cost, scalable DLE operation in Utah • Long-life strategic domestic asset Source: Benchmark Lithium Forecast Q2 2026 and Anson production forecast Anson Forecast Share of North American Lithium Market 0% 2% 4% 6% 8% 10% 12% 14% 0 50,000 100,000 150,000 200,000 250,000 300,000 350,000 2029 2030 2031 2032 2033 Lithium tpa LCE Anson Lithium Supply (LCE) North American Demand (LCE) Share of Market (RHS) 5 1 see ASX Announcement June 16, 2026 - Green River Engineering Study
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Recent Developments • Expanded Green River Mineral Rights1 – Won the bid for 1,175 acres of highly prospective FFSL mineral rights. • The acquisition increases the Project area by 5.4%, connects the eastern and western claim areas and provides a contiguous landholding. • The new acreage will be assessed for inclusion in a future JORC Resource update, potentially increasing resources without additional drilling • Yellow Cat JORC Program Advances5 – Drilling is underway to convert Yellow Cat’s historical uranium–vanadium resource to JORC 2012 standards. • The program will also test high-grade extensions and strengthen future development and monetisation options. • JordProxa Appointment and Test Work 2 3 – Anson has successfully completed JordProxa’s non-thermal downstream test work for Green River, with results exceeding original design expectations, while FEED and thermal processing work continue ahead of schedule. • The progress further de-risks the project’s pathway to battery-grade lithium carbonate. • Through JordProxa’s Australian involvement, strengthens potential eligibility for Australian Government financing support, including Export Finance Australia. • POSCO Funding Accelerates Green River4 – Anson has received the first tranche payment under its binding agreement with POSCO Holdings • Providing non-dilutive funding to advance the DFS and Green River development. • POSCO will fund, build and operate its DLE demonstration plant, providing significant technical validation and creating potential pathways for broader cooperation, including joint investment. 1 See ASX announcement August 2, 2026, Anson Wins Bid for FFSL Mineral Rights at Green River 3 See ASX announcement July 30, 2026, Green River Advances with Successful Downstream Test Work 4 See ASX announcement July 21, 2026, First Tranche Payment from POSCO Holdings 5 See ASX announcement July 28, 2026, Anson to Conduct Western Block Exploration at Yellow Cat6 6
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Finance Review • Governance and Cost Discipline–Independent Remsmart compensation review undertaken to benchmark remuneration and align incentives with project delivery and long-term shareholder value. • Funding and Government Support– o Discussions with a number of potential strategic partners and investors in progress o US Department of Energy (DOE) grant applications—pending DOE Common Application recently launched–one application can be sent to all relevant government agencies, streamlining US government funding process o Pending support from the State of Utah including potential State and local incentives for infrastructure, workforce development and tax reimbursements. These programs could provide meaningful non-dilutive support, subject to final assessment and approval. • Quarterly Investment in Project Advancement– Quarterly expenditure included: • Partial drilling costs for Mt Fuel • Mt Fuel assays and upgraded JORC Resource report • Yellow Cat drilling program • Boysdaba Well swabbing and testing • Cash Position and Outlook– • Anson has sufficient cash to fund its near-term activities, supported by the recent POSCO payment. • Cash expenditure is expected to decline as drilling, resource-upgrade work and other high-cost activities are not expected to recur at the same level. 7
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Yellow Cat Uranium–Vanadium Project 8 Key challenge: timing development around permitting, policy support and the pace of uranium/vanadium market interest. Western Block planned Uranium Market Strength Creates the Right Time to Advance Yellow Cat Higher term prices, tightening supply and new nuclear/SMR plans are increasing strategic interest in domestic resources. SUPPLY AND DEMAND OUTLOOK 0 100 200 300 400 500 2026E 2030E 2035E 2040E 2045E Uranium Demand Uranium Supply ~180M lb estimated 2040 deficit US$95.5/lb record average LT price US$105/lb GS long-run price DEMAND DRIVERS 1 2 3 . Strategic read-through: US-located uranium pounds with a JORC pathway will attract increased attention as utilities and policy makers focus on future supply security. Source: Goldman Sachs Global Investment Research, Australia Uranium, 18 Jun 2026; Goldman Sachs Nuclear Nuggets, 14 Jul 2026; Petra Capital Uranium Sector, 8 Jul 2026. • Large-scale nuclear: DOE conditional loans to support long-lead components for up to 10 AP1000 reactors; NYPA soliciting at least 1 GW of advanced nuclear. • SMRs and microreactors: multiple 2026 milestones, including proposed BWRX-300 SMR projects and U.S. microreactor criticality demonstrations. • Data center demand: nuclear and SMR proposals are increasingly tied to reliable, low-carbon baseload power needs for AI and cloud infrastructure • Policy/permitting: uranium development is highly sensitive to government support, permitting path and domestic critical minerals policy — price alone is not enough.
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Yellow Cat Uranium–Vanadium Project Uranium–vanadium + critical minerals optionality in Utah • Current Status o Two-plus opportunities: uranium and vanadium, with associated critical mineral optionality to be assessed through assays and metallurgical work. o Historical resources and drill data exist at Yellow Cat; o Immediate objective: to update and convert historical data into a 2012 JORC compliant resource. o JORC resource provides potential to unlock Yellow Cat value through funding, royalty, partnership and/or monetization optionality o Eastern Block drilling began 1Q26 and completed April 2026; o Assays pending, with laboratory backlog attributed to high uranium sector interest. o Western Block program will twin 3–5 historical drillholes and test nearby targets to confirm and expand mineralisation. o Mineralisation is shallow sandstone-hosted in the Morrison Formation; White Mesa Mill provides potential tolling route approximately 150 km away. 9 • Known historical mineralisation gives Anson a low-cost path to test value while maintaining strategic optionality. • Key challenge: timing development around permitting, policy support and the pace of uranium/vanadium market interest. Western Block planned Eastern Block drilling completed Historical ore blocks
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Yellow Cat Uranium–Vanadium Project The 2027 objective is to create a JORC-backed platform for technical validation, partnerships and potential monetisation. 1 Q4 2026e Complete Western Block drilling Twin historical holes and test targets to support the resource conversion program. Q1 2027e Compliant JORC resource Convert historical resources into a 2012 JORC compliant resource. Q2 2027e Emerging technology testing Evaluate technologies designed to reduce environmental impact and water use. Q2 2027+ Monetisation discussions Assess strategic partnerships, investment, tolling, royalty and other structures. WHAT GETS DE-RISKED 1 Resource confidence 2 Expansion potential 3 Processing route 4 Permitting readiness Deliberately Staged Strategy: 1. Establish a JORC-compliant resource first, 2. Use technical results and regulatory engagement to determine if Yellow Cat is best advanced, partnered or monetised. Source: Anson ASX Announcement, 29 Jul 2026; management strategy and timeline provided for investor webinar. Anson strategy: De-risk Yellow Cat and adavancing monetisation options 2 3 4 51 Eastern Block drilling Complete Assays pending, with laboratory backlog attributed to high uranium sector interest Q1 2026
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Green River Lithium Project Development Timeline Near Term Targeted Project Milestones 11 Q3 2026 Q4 2026 Q1 2027 Q2 2027 Q3 2027 Q4 2027 Permitting Permitting Completed Engineering Phase 1 DFS Phase 1 FEED Construction Commences Resource Additional JORC Resource Financing Second Off-take Agreement Strategic Investor Debt Funding Secured Final Investment Decision Capital Raise for Project Construction FID Demonstration Plant
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Anson Resources Investor Update Q&A 12