Slides
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The next phase of the Pilgangoora operation 16 October 2026 ASX: PLS
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2 Ore Reserve Update1 31% more contained lithium Improved orebody extraction and a maiden underground Ore Reserve underpin 23% growth in reserve tonnes and 31% growth in contained lithium. P2000 FID Greater ore recovery and mining efficiency Ore sorting and whole-of-ore flotation bring more material into the mine plan, reducing the life-of-mine strip ratio from 7.7x to 5.6x and supporting competitive production of ~2Mtpa. Enhancing Infrastructure Improving productivity and reducing costs Targeted investment reduces haulage costs, improves equipment maintenance efficiency and increases operational flexibility with benefits independent of P2000. Processing capability Economic ore inventory Productivity and cost efficiencyProcessing capability Economic ore inventory An existing world-class operation, proven expansion experience and a strong balance sheet provide the foundation for a larger, lower-cost and more competitive Pilgangoora. P2000 optimises the Pilgangoora orebody Improved processing unlocks ~67Mt of previously uneconomic mineralised material and updated Ore Reserve increases by 23% and contained lithium by 31%. 1. Future production profile is subject to successful construction and commissioning of the P2000 Project and is influenced by a range of factors that may change over time. The 10- year average production targets in respect of the P2000 Project are underpinned by PLS’ existing Ore Reserves. For further information, refer to the ASX announcement titled “PLS approves P2000 FID to lift production to ~2Mtpa” released to the ASX on 16 October 2026 (P2000 FID Announcement). 2. For further information, refer to the ASX announcement titled “Pilgangoora Ore Reserve increases 31% in contained lithium” released to the ASX on 16 O ctober 2026.
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3 Highlights
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First production Sep Quarter CY29 4 Production1 ~2Mtpa 10-year average production once at steady state Unit operating costs (FOB)2 ~A$620/t 10-year average unit operating costs (FOB, real) P2000 Project capex ~A$1.9B Incremental net present value3 A$2.7B 8% real, post-tax discount rate Incremental internal rate of return3 29.5% On cash flows post-tax 1. Future production profile is subject to successful construction and commissioning of the P2000 Project and is influenced by a range of factors that may change over time. The 10-year average production targets in respect of the P2000 Project are underpinned by PLS’ existing Ore Reserves. For further information, refer to the ASX announcement titled “PLS approves P2000 FID to lift production to ~2Mtpa” released to the ASX on 16 October 2026 (P2000 FID Announcement). 2. Unit operating cost (FOB Port Hedland excluding freight and royalties) includes mining, processing, transport, port charges, and site based general and administration costs and is net of any tantal ite by-product credits. It is calculated on an incurred basis (including accruals) and includes inventory movements and credits for capitalised deferred mine waste development costs, and it excludes depreciation of fixed assets and right of use leases, and amortisation of deferred stripping. 3. The P2000 Project Expansion NPV and IRR specified are incremental to PLS’ latest mine plan, excluding P2000. Based on a long-term SC6 price of US$1,620/t (CIF China), with other key parameters and assumptions summarised in table 3 of the P2000 FID Announcement. The A$2.7B Incremental NPV includes an attributable amount of the enhancing infrastructure expenditure. P2000 – Expansion FID approved Delivering greater scale, competitiveness and value creation
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5 P2000 – cost competitive and globally significant Long-life, low-cost, and world scale production 1. Benchmark Mineral Intelligence, September 2026. Average annual production (2030– 2040) on corporate ownership basis, based on Benchmark Mineral Intelligence’s forecast production (including in relation to expansion projects) on a corporate basis for this period. PLS figure represents 10- year P2000 production estimate average, converted to LCE. 2. Project Blue Q3 2026 Lithium Extractive Cost Service 2030 AISC US$/t LCE cost curve. Pilgangoora positioning updated to reflect P2000 FID data, converted to LCE basis. Lithium industry cost curve2 (CY2030 All-in Sustaining Cost US$/t LCE basis) Pilgangoora Q1 Q2 Q3 Q4 Forecast top 10 primary lithium producers (CY2030-2040)1 (kt LCE) Large low-cost asset 2nd quartile, 20+ year mine life Significant production capability World-scale lithium producer - 50 100 150 200 250
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Greenbushes Wodgina Mt Holland Grota do Cirilo Kathleen Valley 0.4% 0.6% 0.8% 1.0% 1.2% 1.4% 1.6% 1.8% 2.0% 2.2% - 50 100 150 200 250 Ore Reserve grade (Li2O) Total Ore Reserve (Mt, 100% basis) Ore Reserve – Larger Ore Reserve unlocked 31% increase in contained Li2O and 23% increase in Ore Reserve tonnes – world leading scale 6 1. For further information, refer to the ASX announcement titled “Pilgangoora Ore Reserve increases 31% in contained lithium” released to the ASX on 16 O ctober 2026. 2. Sources are company filings as at 14 October 2026 – ‘LCE’ refers to Lithium Carbonate Equivalent excluding any non lithium by-products. Chart focused on the larger conventional lithium pegmatite Ore Reserves reported under JORC Code, NI -43-101 or 1300 of Regulation S-K issued by the SEC and does not purport to include all global projects. Refer to Appendix slide 43 for fur ther details. ‘Production’ includes assets in operation or in care & maintenance. ‘Development’ includes assets under constructi on or where a Feasibility Study has been released. Presented on a 100% basis for Projects. Development Production Global lithium pegmatite project Ore Reserves by grade and tonnage (bubble size represents Ore Reserve LCE) Pilgangoora - FY26 Annual Report Pilgangoora - Updated
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7 Attractive incremental returns Improved processing and mining design unlock greater orebody value and underpin strong project returns under the disclosed pricing assumptions. Stronger competitiveness through the cycle Lower mining intensity and improved productivity strengthen the operating cost position and competitiveness. Investment timed for future demand Development lead time positions first production for CY29, supported by expected demand growth and customer engagement on future volumes. Capacity to fund and deliver Existing liquidity, operating cash generation and financing flexibility support development, alongside proven expansion experience and pre-FID progress. P2000 combines attractive incremental returns with capacity timed for future demand, improved cost competitiveness and the financial strength to deliver. P2000 – Investing now to create value and strengthen Pilgangoora through the cycle
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Village and supporting infrastructure Access road upgrade Owner-operator productivity uptime Onsite servicing and major lifecycle maintenance improve equipment availability and maintenance efficiency. 8 Sealed access road ~24km Upgrade and seal the main access road to the Great Northern Highway. Permanent workforce accommodation 1,200 bed New cyclone-rated village with central facilities and supporting infrastructure. Fleet maintenance capacity 8 service bays Sized for expected larger fleet and Pilgangoora life of mine. Fewer truck movements ~35% Ultra-quad haulage reduces truck movements, with lower road maintenance and dust-suppression requirements. Operational flexibility waste movement Current village site to enable more efficient sequencing of waste landforms supporting shorter haul distances. Enhancing infrastructure PLS intends to invest A$600–650M to reduce operating costs and improve productivity Mine services facility
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9 Strategy
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Our Purpose Vision Strategic pillars Operate Deliver our operating performance commitments Grow Achieve full potential of our global assets Chemicals Extract greater value along the battery materials supply chain Diversify Diversify revenue beyond Pilgangoora Mission Powering a sustainable energy future Li 10
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11 2014 2016 2017 2018 2021 2022 2023 2024 2026 First drill hole at Pilgangoora Maiden Ore Reserve of 29.5Mt @ 1.31% Li 2O Ore Reserve updated to 69.8Mt @ 1.26% Li 2O First concentrate produced at Pilgangoora Acquisition of Altura Lithium Project P680 FID P1000 FID P2000 pre- feasibility study P2000 FID Inaugural underground PFS completed Ore Reserve updated to 80.3Mt @ 1.27% Li 2O Ore Reserve updated to 161.9Mt @ 1.18% Li 2O Ore Reserve updated to 214.2Mt @ 1.15% Li 2O Proven history of delivering growth Reserve growth has supported PLS’ successful production expansions Ore Reserve updated to 249.2Mt @ 1.24% Li 2O
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A proven model of investment and value creation Expanded production and strong lithium pricing enabled PLS to reinvest in growth, reward shareholders and strengthen its balance sheet 12 P2000 builds on this proven model Investment Cycle Operational Outcomes Capital Allocated $4.8B FY23–FY26 Reinvest for growth Production expansion Capture market opportunities Strong cash generation Investing in competitive capacity to capture future market upside. Capital Allocation (FY23–FY26) $2.4B $0.8B +$1.7B Capital investment Dividends Cash balance increase Larger Production Profile Successive expansions have increased Pilgangoora’s production capacity and ability to respond to market demand. Lower Unit Costs Greater scale, processing improvements and operational efficiencies support a more competitive cost position. More Flexible Operating Platform Multiple processing facilities and a stronger operating base provide flexibility to respond to market conditions.
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13 P2000 – strengthening scale, cost competitiveness and returns
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P2000 – Unlocks greater value from Pilgangoora A larger, more capable processing plant enables greater ore recovery, less selective mining and more competitive production costs. 14 Project Economics A$2.7B4 Incremental post-tax NPV 29.5% Incremental IRR A$1.9B5 P2000 capital investment Plant 5.0 → 6.3Mtpa ▲ Larger Jimmagunya wet plant (+26% capacity), designed to process higher ore volumes and greater host-rock dilution Ore + ~67Mt ▲ Mineralised contact material previously classified as waste now included as ore due to processing flowsheet Mining 7.7x → 5.6x ▼ Lower life of mine strip ratio1 Production ~2.0Mtpa2 ▲ Spodumene concentrate production capacity Operating Cost ~A$620/t FOB3 ▼ 10-year average, real 1. Strip ratio represents the waste to ore ratio (run of mine basis) of the life of mine open pit. 2. Future production profile is subject to successful construction and commissioning of the P2000 Project and is influenced by a range of factors that may change over time. The 10- year average production targets in respect of the P2000 Project are underpinned by PLS’ existing Ore Reserves. For further information, refer to the ASX announcement titled “PLS approves P2000 FID to lift production to ~2M tpa” released to the ASX on 16 October 2026 (P2000 FID Announcement). 3. Unit operating cost (FOB Port Hedland excluding freight and royalties) includes mining, processing, transport, port charges, and site based general and administration costs and is net of any tantalite by -product credits. It is calculated on an incurred bas is (including accruals) and includes inventory movements and credits for capitalised deferred mine waste development costs, and it excludes depreciation of fixed assets and right of use leases, and amortisation of deferred stripping. 4. The P2000 Project Expansion NPV and IRR specified are incremental to PLS’ latest mine plan, excluding P2000, with the key par ameters and assumptions summarised in table 3 of the P2000 FID Announcement. 5. Capital excludes separately announced Enhancing Infrastructure. Improvement From The Pre-feasibility Study
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15 50% → 25% Pegmatite cutoff per mining block +17% Improvement in overall orebody extraction ~67Mt Previously classified waste now included as ore 7.7x → 5.6x Life of mine strip ratio Unlocking More Of The Orebody Mining Impacts (PFS → FS) Conceptual model demonstrating the realisation of additional mineralised waste converted to processible ore Processing changes enable more mineralised material to be recovered with lower strip ratio Maximizing ore through improved processing Processing enables more ore recovery and improved mining strip ratio Ore sorting host rock before wet processing; whole-of-ore flotation enables upgraded feed to produce concentrate. Ore Contact ore (“mineralized waste”) now processible ore
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203 (21) (2) 67 (44) 46 249 Ore Reserve (Mt) Pilgangoora Ore Reserve from FY26 Annual Report to updated Ore Reserve Updated Ore Reserve unlocks Pilgangoora value Enhanced mining and processing strategy drives larger Ore Reserve FY26 Annual Report Open pit/ underground split 2026 Update Contact Ore ROM to COS Reference Point Underground Ore Reserve 2026 Ore Reserve 2026 Updated COS Reference Point Subject to further study Ore Reserve adjustments in the chart are presented on ROM stockpile reference point ‘before crushing and sorting’ other than noted. KEY UPDATES1 01 ADDITIONAL CONTACT ORE Enhanced sorting and flotation enable greater host-rock dilution and a lower pegmatite cutoff (25%), bringing previously classified waste into the mine plan. 02 MAIDEN UNDERGROUND RESERVE 46.5Mt at 1.5% Li₂O (COS reference point), following completion of the Underground PFS. 03 UPDATED ASSUMPTIONS & REPORTING REFERENCE Updated Ore Reserve reflects P2000 FS economic assumptions, and reporting reference point at coarse ore stockpile (COS), following crushing and ore sorting, rather than run of mine (ROM) stockpile. 1. For further information, refer to the ASX announcement titled ““Pilgangoora Ore Reserve increases 31% in contained lithium” released to the ASX on 16 October 2026. 16 +23% Ore Reserve tonnes 249.2Mt at 1.24% Li₂O +31% Contained Li₂O
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17 PLS' third major processing facility at Pilgangoora The Jimmagunya processing plant Dry Plant Wet Plant Pilgan Plant Dry Plant Wet Plant Existing Operation 17 Key Facts World's largest Sensor based ore sorting installation, unlocking ~67Mt of contact ROM Ore. 9.0 Mtpa dry plant Crushing, ore sorting and covered coarse ore stockpile. 6.3 Mtpa wet plant Grinding, magnetic separation, whole-of- ore flotation and tantalum recovery. ~70% lithium recovery Target lithia recovery through the wet plant. Dry-stack tailings Co-disposed in waste-rock landforms; potentially up to ~40% lower water intensity. Sep Quarter CY29 First production - with ~6 month ramp up to steady state.
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620 725 755 880 1,065 ~2,000 FY23 FY24 FY25 FY26 FY27e FY28e FY29e FY30e FY31e 18 1. Mid point of FY27 production guidance. 2. Future production profile is subject to successful construction and commissioning of the P2000 Project and is influenced by a range of factors that may change over time. The 10- year average production targets in respect of the P2000 Project are underpinned by PLS’ existing Ore Reserves. For further information, refer to the ASX announcement titled “PLS approves P2000 FID to lift production to ~2Mtpa” released to the ASX on 16 October 2026 Expanding production to ~2.0Mtpa P2000 optimises processing across Pilgangoora to maximise orebody value Spodumene concentrate production (kt) 1 OPTIMISED PROCESSING PLATFORM Jimmagunya Designed to process higher levels of contact material through ore sorting and whole-of-ore flotation. Pilgan Higher-grade coarse ore can be preferentially directed to Pilgan where appropriate also leveraging ore sorting. Ngungaju Retained as flexible processing capacity. ~1,970 ktpa ~900 klbs pa SC5.2, 10-year average2 Contained Ta2O5, 10-year average2
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Improved sustainability outcomes P2000 combines increased production with improved resource recovery, water efficiency and responsible project design 19 Resource efficiency Greater recovery More ore extracted with less waste movement, supporting lower carbon intensity. Water efficiency ~40% Potential reduction in water intensity through dry-stack tailings and water-saving measures. Responsible design Impact avoidance Project design seeks to avoid environmental and cultural heritage impacts. Community and Employment Outcomes ~1,000 Construction jobs ~500 Ongoing operating jobs Traditional Owner participation Working with Traditional Owner groups to facilitate contracting opportunities.
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20 Scaling reliable supply for a growing lithium market PLS provides reliable supply, supported by long-life, low-cost operations, proven delivery and scale 1. Contracted placement capacity reflects current offtake agreements (including sole election rights and Ganfeng extension options), FY2027–FY2035. Indicative sales profile1 (% total sales) 0% 50% 100% FY27 FY30 FY35 Contracted placement capacity Unallocated Supply reliability and downside protection Long-life, low-cost production supports PLS’s preferred-supplier position. Offtake pricing floors protect earnings as customers increasingly value reliable supply. Strong engagement for P2000 capacity Established and prospective customers are seeking reliable, large-scale supply, supporting active engagement on future P2000 volumes. Flexibility to respond to market dynamics Existing volume election and term-extension rights preserve flexibility to respond to customer demand and market conditions. Strategic positioning for value creation PLS’s scale and established market position support selective partnerships and attractive long-term commercial arrangements.
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21 Compelling project economics1 Attractive incremental returns, competitive costs and significant leverage to lithium prices A$2.7B Incremental post-tax NPV4 8% real discount rate 29.5% Incremental post-tax IRR Consensus pricing ~A$620/t Unit operating cost5 FOB real · FY31–40 average Operating economics ~20 years Open-pit mine life based on Ore Reserves at P2000 schedule A$40 – 60M per annum Sustaining capital (real), FY31 – 40 To support steady state operations and excludes HME fleet purchases; expected to be leased financed 1. For further information, refer to the ASX announcement titled “PLS approves P2000 FID to lift production to ~2Mtpa” released to the ASX on 16 October 2026. 2. Base case consensus NPV using SC6 pricing ranging between ~US$1,450-1,950/t through 2036 and reverting to US$1,620/t average LT real from 2037 (based on 11 equity, bank and industry analyst forecasts). 3. Benchmark Mineral Intelligence’s long-term real SC6 price of US$2,580/t real (FOB), indicatively adjusted by US$35/t to reflect shipping costs, insurance & freight (CIF). 4. P2000 incremental NPV relative to P1000 operating model at the various spodumene prices shown. The A$2.7B Incremental NPV includes an attributable amount of the enhancing infrastructure expenditure. 5. Unit operating cost (FOB Port Hedland excluding freight and royalties) includes mining, processing, transport, port charges, and site based general and administration costs and is net of any tantalite by -product credits. It is calculated on an incurred basis (including accruals) and includes inventory movements and credits for capitalised deferred mine waste development costs, and it excludes depreciation of fixed assets and right of use leases, and amortisation of deferred stripping. ~A$180M per annum Mine development expenditure (real), FY31 – 40 Incremental NPV sensitivity4 to SC6 price (US$/t SC6 CIF flat real price from 1-Jul-26 except as indicated) (A$B)) $0.7B $7.8B US$1,000 US$1,250 US$1,500 US$1,750 US$2,000 US$2,250 US$2,500 US$2,750 US$3,000 $2.7B $6.4B Consensus price forecasts2 BMI LT price3
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22 ~2.2Mtpa Potential combined production2 10-year average from steady state 46.5Mt Maiden underground ore reserve1 1.50% Li₂O | COS reference point 25+ years Potential Pilgangoora mine life Based on disclosed Ore Reserves Future growth optionality - underground mining Underground demonstrates potential for higher production and extended Pilgangoora operating life Combined open-pit and underground mining could provide feed to all three Pilgangoora processing plants following ramp-up. 1. For further information, refer to the ASX announcement titled ““Pilgangoora Ore Reserve increases 31% in contained lithium” r eleased to the ASX on 16 October 2026. 2. Future production profile is subject to successful construction and commissioning of the P2000 Project and is influenced by a range of factors that may change over time. The 10- year average production targets in respect of the P2000 Project are underpinned by PLS’ existing Ore Reserves. For further information, refer to the ASX announcement titled “PLS approves P2000 FID to lift production to ~2Mtpa” released to the ASX on 16 October 2026. PFS Underground design (long section) Next steps: Feasibility study underway. Any future Underground activity is subject to feasibility study outcomes, market conditions and Board sanction.
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Future growth optionality - further exploration Updated Exploration Target highlights further geological potential at Pilgangoora 23 1. For further information, refer to the ASX announcement titled ““Pilgangoora Ore Reserve increases 31% in contained lithium” r eleased to the ASX on 16 October 2026. CENTRALSOUTH NORTHBRIDGE ZONE Approximate 2km strike length 10m at 2.20% Li2O 39m at 1.48% Li2O Open Pit MRE RPEEE constraint N Pilgangoora deposit (looking west) 2026 Mineral Resource within RPEEE constraints open pit shells and underground MSO shapes, with drill hole intercepts ≥0.5% Li₂O 7m at 1.29% Li2O 500m 7672000mN 7671000mN 7670000mN 7673000mN 7674000mN 7669000mN 7675000mN 7668000mN UNCLASSIFIED PEGMATITE1 Modelled pegmatite within underground mining shapes, not currently classified as Mineral Resource. Pilgangoora deposit — geological long section NEXT STEPS: Staged multi-year RC and diamond drilling planned to test both opportunities, commencing March quarter FY27. • Pilgangoora Exploration Target1 updated to 75Mt to 150Mt at 1.1% to 1.4% Li2O – does not form part of 2026 Mineral Resource. • The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource for the Exploration Target, and it is uncertain if further exploration will result in the estimation of a Mineral Resource. 23 BRIDGE ZONE1 Initial diamond drilling intersected pegmatite of comparable thickness and grade to the Central Zone.
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24 Enhancing Pilgangoora’s operating platform
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Wodgina Road East upgrade • Upgrade and seal the 24km access road (Wodgina Road East) from Pilgangoora Operation to the Great Northern Highway. • Lowers unit transport costs through more efficient haulage, reduced maintenance costs and water usage. • Includes 13 floodway crossings and three rail crossings. • Enables transition to ultra quad road trains – reducing truck movements by ~35%. • WA government committed A$11M towards the intersection upgrade, with potential further government contributions for the ~8 km public road. • Road upgrade expected to be completed by late CY28. Lowers costs and increases haulage efficiency 25 Pilgangoora Operation ~24km Wodgina Road East Great Northern Highway
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New 1,200 bed permanent village • New permanent village for Pilgangoora Operation - existing village facilities approaching end of life. • 1,200 bed, cyclone rated camp with all supporting infrastructure including central facilities, services, communications and power. • Critical for workforce wellbeing, attraction and retention. • Existing village location to enable more efficient mine sequencing, supporting shorter haul distances and greater operational flexibility. • Expected to progressively enter operational use by late CY27. Critical infrastructure for employee wellbeing while improving operational flexibility 2626
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Mine services facility • Supports ongoing transition to owner operator HME fleet. • Next stage to introduce larger ultra-class fleet - improving mining efficiency. • In-house maintenance improves equipment availability and maintenance productivity while reducing maintenance costs. • 8 enclosed service bays sized for larger fleet and 20+ year LOM requirements. • Enables major lifecycle maintenance to be undertaken on site. Improves fleet availability while reducing maintenance costs 27
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28 Capex and funding
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Strong funding position supports investment cycle P2000 and enhancing infrastructure capital expenditure profile 29 1. For further information, refer to the ASX announcement titled “PLS approves P2000 FID to lift production to ~2Mtpa” released to the ASX on 16 October 2026. 2. For further information, refer to the ASX announcement titled “Enhancing Infrastructure to strengthen Pilgangoora Operation” released to the ASX on 16 October 2026. 3. Top end of Enhancing Infrastructure CAPEX guidance used. 4. For more information, refer to the ASX announcement titled “PLS approves Pre- FID capital expenditure P2000 Project” released to the ASX on 19 June 2026. 500 900 500 165 400 85 FY27 FY28 FY29 P2000 Enhanced Infrastructure Capital expenditure (A$M) 2, 3 665 1,300 585 Investment phased over three years • A$1.9B P2000 investment includes previously announced pre- FID4 expenditure. • Additional A$600–650M Enhancing Infrastructure investment. Strong funding foundation • A$2.3B cash at 30 June 2026 and ongoing operating cash generation underpin the investment program. Disciplined balance-sheet and capital management • PLS’ balance sheet structured for long term flexibility, liquidity and capacity through the investment cycle. • PLS has continued to mature its balance sheet and will periodically assess debt funding opportunities against capital requirements, market conditions and to preserve future growth optionality, as required. • PLS remains committed to its Capital Management Framework, including franked dividends where consistent with the framework, subject to Board discretion. 1
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Revised FY27 capex guidance Updated to include P2000 and Enhancing Infrastructure capex 30 FY27 capex guidance1 Unit FY27 Guidance Capex A$M 1,110 – 1,175 Sustaining capital A$M 85 – 100 Mine development A$M 250 – 280 Infrastructure & projects A$M 110 – 130 P2000 (post FID) A$M 500 Colina (pre-FID) A$M Access road, permanent village, HME facility A$M 165 BaseGrowthEnhance NO CHANGE NO CHANGE NO CHANGE Base capex No change to original Base capex guidance. Growth Updated to include $500M growth capex for the P2000 Project in FY27. This includes the previously announced pre-FID capex. Enhancing capex Updated to include $165M for enhancing infrastructure in FY27. Targeted investment improves productivity and reduces costs, with benefits independent of P2000. Subject to Board approval
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31 Lithium market
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0 2,500 5,000 7,500 32 Volatility persists as market rapidly expands Lithium prices have repeatedly decoupled from fundamentals Spodumene concentrate price (SC6.0%, CIF China basis)1 500 1,750 3,000 Lithium industry cost curve (CY2026 All-in Sustaining Cost US$/t LCE basis)2 0 10,000 20,000 30,000 SPOT battery-grade carbonate3 1. Monthly average of rolling daily prices of major price reporting agencies from 1/01/2020 to 13/10/2026, basis of US$/t, SC6.0%, CIF China 2. Project Blue Q3 2026 Lithium Extractive Cost Service 2026 AISC US$/t LCE cost curve. 3. Average of major price reporting agencies on 13th October 2026, China domestic US$/t Excl. VAT basis
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1. BloombergNEF. Historical data has been adjusted to real 2025 dollars. Sectors include passenger cars, buses, commercial vehicles, two- and three-wheelers and stationary storage. 2. Benchmark Mineral Intelligence, September 2026. 33 Lithium demand by end-use (Kt LCE)2 Lithium end-use demand diversification (Market share %)2 Lithium demand set to triple by 2040 Cost deflation, policy support and supply security are reinforcing energy transition Global average battery pack prices (US$/kWh)1 1,474 108 0 500 1,000 1,500 2010 2015 2020 2025 0% 50% 100% 2020 2025 2030 2035 2040 China ROW 0.0 2.0 4.0 6.0 2020 2025 2030 2035 2040 EV BESS Other Economics enabling transition Cost deflation enabling mass adoption Geographic demand broadening Supply security requirements growing End-use diversification Lithium applications expanding beyond EVs
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34 Market tightness expected to persist Lengthening development timelines constrain the industry's ability to meet demand 1. S&P Global Market Intelligence, April 2025. 2. Benchmark Mineral Intelligence, September 2026. Supply categories have been amended by PLS from Benchmark classifications; Hi gh-probability (operating mines, fully funded expansions, and P2000), Uncertain supply (probable, possible, care & maintenance, early stage) . 6 11 16 18 1990-99 2000-09 2010-19 2020-24 Mine development cycles1 Years, discovery to production Global lithium supply and demand forecast2 - includes P2000 production (Kt LCE) - 2,000 4,000 6,000 Actual High-Probablity Recycling Uncertain supply Demand
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35 Unlocking the full potential of Pilgangoora
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The next phase of Pilgangoora Investing today to create significant long-term value 36 Improved processing capability unlocks greater value from Pilgangoora's world-class orebody. Expansion to ~2Mtpa strengthens scale, cost competitiveness and shareholder returns. Targeted infrastructure investment improves productivity and supports a long-life operation. Strong cash generation and balance sheet capacity support investment through the cycle.
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Questions 37
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Contacts Investor Relations James Fuller Group Manager Investor Relations T: +61 (0) 488 093 763 James.Fuller@pls.com Media Michael Vaughan Fivemark Partners T: +61 (0) 422 602 720 38
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Appendix 39
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Ore Reserve reference point: ROM to COS Reserve now stated at the wet plant feed point – contained lithium materially unchanged between methodologies 40 PREVIOUS REPORTING POINT NEW REPORTING POINT Ore mined Open pit, underground and stockpile reclaim ROM ore (Run Of Mine) Before crushing and ore sorting Crushing & ore sorting Up to 35% waste in feed COS ore (Coarse Ore Stockpile) Wet plant feed – Ore Reserve basis Wet plant Spodumene concentrate ROM REFERENCE POINT Before crushing & sorting (incl. ejects) 297.3Mt at 1.05% Li2O 2.73% Fe2O3 93ppm Ta2O5 3.1Mt Li2O contained NEW REFERENCE POINT · COS After crushing & sorting (excl. ejects) 249.2Mt at 1.24% Li2O 1.15% Fe2O3 109ppm Ta2O5 3.1Mt Li2O contained ORE SORTING EJECTS −48Mt Host rock to waste landform; mis-ejected pegmatite counted as ore loss Why the reference point has changed Ore sorting is a Modifying Factor The Jimmagunya flowsheet accepts up to 35% waste in feed. Host rock ejected by the sorters is excluded from the Reserve; mis-ejected pegmatite is treated as additional ore loss. Operational learnings from an integrated ore sorting flowsheet Two years of Pilgan operation with integrated ore sorting have demonstrated optimal concentrator vs. mining reconciliation at this point in the flowsheet. JORC Code (2012) Sorting factors are derived from P2000 FS testwork and Pilgan ore sorter operating data since August 2024. The ROM reference point is disclosed for comparison and market education. Notes: refer to the ASX announcement titled ““Pilgangoora Ore Reserve increases 31% in contained lithium” released to the ASX on 16 October 2026. 3. Key introduced definitions into the 2026 Pilgangoora Ore Reserve: ROM ore (ore mined) – ore delivered to the ROM pad or primary crusher from the open pit, underground or stockpile reclaim, before crushi ng and ore sorting, inclusive of mining dilution and after mining ore loss. Ore sorting ejects – material rejected by the ore sorters, comprising host rock and a minor proportion of mis -ejected pegmatite, treated as waste and excluded from the Ore Reserve. COS ore (Ore Reserve) – ore after crushing and ore sorting delivered to the coarse ore stockpile as wet plant feed, being the reference point at which the Ore Reserve is reported. Ore processed – COS ore reclaimed to the wet plant for concentration, to which the metallurgical recoveries under “Metallurgical factors or assumptions” are applied. 1. Totals may not add up due to rounding. 2. For further information on the Pilgangoora Ore Reserve estimate,
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Pilgangoora Mineral Resource Updated following P2000 FS and Underground PFS 41 Notes: 1. Footnotes from ASX release. Mineral Resource at 30 June 2026 Category Tonnes (Mt) Li2O (%) Ta2O5 (ppm) Fe2O3 (%) Li2O (Mt) Ta2O5 (Mlb) Open Pita Measured 14 1.29 104 0.42 0.2 3 Indicated 186 1.24 109 0.52 2.3 45 Inferred 11 1.19 89 0.65 0.1 2 Sub-Total 211 1.24 107 0.52 2.6 50 Undergroundb Measured - - - - - - Indicated 131 1.45 135 0.51 1.9 39 Inferred 51 1.41 142 0.46 0.7 16 Sub-Total 182 1.44 137 0.50 2.6 55 Stockpilesc Measured 2 1.16 108 1.14 0.0 0 Indicated 9 0.95 100 3.60 0.1 2 Inferred - - - - - - Sub-Total 10 0.98 101 3.21 0.1 2 Pilgangoora Measured 15 1.28 104 0.50 0.2 4 Indicated 326 1.32 119 0.60 4.3 86 Inferred 62 1.37 132 0.50 0.8 18 Total 403 1.33 121 0.58 5.3 107 Notes: a Open pit Mineral Resources are reported above a 0.2% Li₂O cut-off within a combination of the life-of-mine pit designs and pit optimisation shells, with a minimum pegmatite thickness of 2m and excluding oxide material. b Underground Mineral Resources are reported outside the open pit Mineral Resources within Mineable Shape Optimiser (MSO) stope shapes generated at a 0.7% Li₂O cut-off. c Stockpiles are reported on a diluted basis delivered to the crusher, before ore sorting. Measured stockpiles are run-of-mine material; Indicated stockpiles are contaminated (long-life) stockpiles. Tonnes and grades are inclusive of the estimated waste proportion in each stockpile. d Mineral Resources are reported in situ, exclusive of mining dilution, on a dry basis, and are inclusive of Ore Reserves. e Totals may not add up due to rounding.
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Pilgangoora Ore Reserve Updated following P2000 FS and Underground PFS 42 Insert table and footnotes from ASX release Ore Reserve as at 30 June 2026 – After Crushing-and-Sorting (COS) JORC code category Tonnes (Mt) Li2O (%) Ta2O5 (ppm) Fe2O3 (%) Li2O (Mt) Ta2O5 (M lb) Open Pit In-situ Proved 13.2 1.24 98 1.00 0.2 3 Probable 181.0 1.18 103 1.23 2.1 41 Sub total 194.2 1.19 103 1.21 2.3 44 Underground In-situ Probable 46.5 1.50 135 0.72 0.7 14 Sub total 46.5 1.50 135 0.72 0.7 14 Stockpiles Proved 1.6 1.17 109 0.87 0.0 0 Probable 6.9 1.18 112 2.06 0.1 2 Sub total 8.5 1.18 111 1.83 0.1 2 Pilgangoora Proved 14.8 1.23 99 0.99 0.2 3 Probable 234.4 1.24 109 1.16 2.9 56 TOTAL 249.2 1.24 109 1.15 3.1 60 Notes: a) Totals may not add up due to rounding. b) The Ore Reserve is the economically mineable part of the Measured and Indicated Mineral Resource. It includes allowances for ore loss and dilution during mining and excludes ore sorting ejects. Open Pit c) All Open Pit Ore tonnes are defined using the weighted average cost and recovery of the Pilgan and Jimmagunya Plants. d) Open Pit Ore Reserves are based on an expected value calculation to report tonnages above a zero $/t net expected value, excluding mining cost. The cut-off to define ore is therefore variable in Li2O and Ta2O5 metal grades but equates to an approximate cut-off grade range of 0.2-0.3% Li2O. e) The Open Pit Ore Reserve estimate is the total after crushing and ore sorting at the coarse ore stockpile. The total mined ore delivered to the ROM at the process plants is 236.6Mt at 0.98% Li2O, 2.97% Fe2O3 and 86ppm Ta2O5. Modifying factors of Ore loss at 1.1% and waste removal of 17.9% when processed through the crushing and ore sorting circuit convert this to the Open Pit Ore Reserve estimate of 194.2Mt at 1.19% Li2O, 1.21% Fe2O3 and 103ppm Ta2O5, which is then processed through the wet plant into concentrate. f) Ore Reserves were estimated using projected concentrate prices of US$1,530/ dmt (CIF price) for 6% Li2O concentrate and US$36/lb 10% Ta2O5 concentrate and an exchange rate of 0.70 AUD/USD. Underground g) The Probable Underground Ore Reserve is based entirely on Indicated Resources. h) The estimation was carried out based on a primary stope cut -off grade of 1.2% Li2O with infill at stope cut -off grades of 1.0% Li2O and 0.8% Li2O. These values were determined as optimal based on strategic scenario modelling completed just prior to the Underground PFS. i) The average mining recovery and dilution factors applied were 91% and 5% respectively. Undiluted mined tonnes increase by the dilution factor, grades of Li2O and Ta2O5 are decreased by the dilution factor. The dilution is assumed to have the same Fe2O3 grade as a ny waste rock within each stope shape which results in diluted mined tonnes having a higher grade of Fe2O3 than the undiluted mi ned tonnes. j) The Probable Underground Ore Reserve estimate is the total after crushing and ore sorting at the coarse ore stockpile. The total mined ore delivered to the ROM at the process plant is 50.2Mt at 1.40% Li2O, 1.49% Fe2O3 and 126ppm Ta2O5. Ore loss of 0.7% and was te removal of 7% when processed through the crushing and ore sorting circuit convert this to the Probable Underground Ore Reserv e estimate of 46.5Mt at 1.50% Li2O, 0.72% Fe2O3 and 135ppm Ta2O5, which is then concentrated through the wet plant. Stockpiles k) The ore delivered to the ROM from stockpiles is 10.4Mt at 0.98% Li2O, 3.21% Fe2O3 and 101ppm Ta2O5. Ore loss of 2.4% and wast e removal of 18.6% when processed through the crushing and ore sorting circuit convert this to the Stockpile Ore Reserve estimate of 8.5Mt at 1.18% Li2O, 1.83% Fe2O3 and 111ppm Ta2O5, which is then concentrated through the wet plant.
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Sources for Ore Reserve slide 6 chart 43 Total (P&P)4 Proved Probable Company disclosing the Estimate1 Project Name Stage3 Date announced Announcement / report title LT SCx price (US$/t)5 Tonnage (Mt) Grade (% Li2O) Tonnage (Mt) Grade (% Li2O) Tonnage (Mt) Grade (% Li2O) PLS Group Limited Pilgangoora 2026 Production 16-Oct-26 Pilgangoora Ore Reserve increases 31%...2 1,530 249.2 1.24 14.8 1.23 234.4 1.24 PLS Group Limited Pilgangoora FY26 Production 24-Aug-26 FY26 Annual Report 1,450 202.7 1.16 10.1 1.24 192.6 1.16 IGO Limited Greenbushes Production 12-Feb-26 Greenbushes CY25 Resource & Res... 1,570 176 1.9 1.0 2.1 176.0 1.9 Albemarle Corporation Wodgina Production 11-Feb-26 S-K 1300 Technical Report Summary 1,300 104.8 1.3 - - 104.8 1.3 Sociedad Química y Minera de Chile S.A. Mt Holland Production 17-Apr-25 Technical Report Summary 1,200 85.6 1.45 39.9 1.56 45.7 1.36 PMET Resources Inc. Shaakichiuwaanaan Development 2-Oct-26 Amended NI 43-101 Technical Report 1,303 84.3 1.26 - - 84.3 1.26 Sigma Lithium Corporation Grota do Cirilo Production 30-Mar-26 Form 40-F Annual Report 1,150 76.4 1.29 39.9 1.33 36.4 1.28 Liontown Resources Limited Kathleen Valley Production 31-Aug-26 FY26 Annual Report 1,326 68.8 1.32 5.7 1.29 63.1 1.32 Elevra Lithium Limited Moblan Development 28-Aug-26 FY26 Annual Report 1,250 48.1 1.31 5.3 1.57 42.8 1.27 Elevra Lithium Limited NAL Production 28-Aug-26 FY26 Annual Report 1,250 47.2 1.12 0.2 0.93 47.0 1.12 Wildcat Resources Limited Tabba Tabba Development 30-Sep-26 FY26 Annual Report 1,500 46.3 0.99 - - 46.3 0.99 Rio Tinto Limited Galaxy Development 4-Dec-25 Initial reporting of lithium Mineral Res... n/a 37.3 1.27 - - 37.3 1.27 Mineral Resources Limited Mt Marion Production 22-Sep-23 Mineral Resources and Ore Reserves... 1,639 35.7 1.42 0.3 1.27 35.4 1.42 Frontier Lithium Inc. Pakeagama Lake Development 9-Jul-25 Technical Report Summary 1,500 31.1 1.51 16.2 1.58 14.9 1.42 Rio Tinto Limited Whabouchi Development 4-Dec-25 Initial reporting of lithium Mineral Res... n/a 26.5 1.32 10.5 1.40 16.0 1.27 Critical Elements Lithium Corporation Rose Development 11-Oct-23 Rose Lithium-Tantalum Project Feasib… 1,200 26.3 0.87 - - 26.3 0.87 Atlantic Lithium Limited Ewoyaa Development 29-Jun-23 Definitive Feasibility Study 1,587 25.6 1.22 - - 25.6 1.22 Lithium Ionic Corp. Bandeira Development 31-Oct-25 Bandeira Lithium Project NI 43-101 Tec… 1,157 23.2 1.10 2.6 1.12 20.6 1.09 Global Lithium Resources Limited Manna Development 16-Sep-26 Manna-Nova Integration Study increas… 1,400 20.9 0.89 - - 20.9 0.89 Savannah Resources Plc Barroso Development 15-Jul-26 First JORC Reserve declared, JORC... 1,200 20.0 0.99 - - 20.0 0.99 Elevra Lithium Limited Carolina Development 28-Aug-26 FY26 Annual Report 900 18.3 1.10 - - 18.3 1.10 Core Lithium Ltd Finniss Production 10-Nov-25 Updated Grants Mine Plan and Ore R... 1,330 15.6 1.27 5.4 1.28 10.2 1.27 1. PLS is referencing the Ore Reserve estimate in the relevant source document. The ‘Company’ listed is the party disclosing the Ore Reserve estimate that PLS has sourced. 2. For further information, refer to the ASX announcement titled “Pilgangoora Ore Reserve increases 31% in contained lithium” released to the ASX on 16 October 2026. 3. ‘Production’ includes assets in operation or in care and maintenance. ‘Development’ includes assets under construction or where a Feasibility Study has been released. 4. Figures are reported on a 100% asset basis and are rounded. Proved and Probable Ore Reserve have been aggregated in the Total (P&P) figures. Stockpiles have been included (where separately disclosed) and average grade recalculated accordingly. 5. Price assumption as reported in JORC ‘Table 1’ or similar disclosure (not adjusted for FOB/CIF basis or concentrate grade), w ith the exception of Rose which was quoted as $20,000/t contained Li 2O. 6. Table focused on the larger conventional lithium pegmatite Ore Reserves reported under JORC Code, NI -43-101 or 1300 of Regulation S-K issued by the SEC and does not purport to include all global projects. Current as at 14 October 2026.
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Important notices 44 This document has been prepared by PLS Group Limited (“PLS” or the “Group”) and is dated 16 October 2026. This document should be read in conjunction with the ASX announcements titled “PLS approves P2000 FID to lift production to ~ 2Mtpa” (“P2000 FID Announcement”), “Enhancing Infrastructure to strengthen Pilgangoora Operation” and “Pilgangoora Ore Reserve increases 31% in contained lithium” (“Pilgangoora Ore Reserve and Mineral Resource Update Announcement”), all released to the ASX on 16 October 2026. Not an offer of securities This document is provided for informational purposes only and does not constitute or contain an offer, invitation, solicitati on or recommendation with respect to the purchase or sale of any securities in PLS. This document is not a prospectus, product disclosure statement or other offering document under Australian law or any other law, will not be lodged with the Australian Securities and Investments Commission, and may not be relied upon by any person in connection with an offer or sale of PLS’ securities. This document may not be copied, disclosed, reproduced or distributed to any other person in whole or in part for any purpose without the express prior written c onsent of PLS. Summary information This document contains summary information about PLS and its activities that is current as at the date of this document unles s otherwise stated. The information in this document is general in nature and does not contain all the information which a prospect ive investor may require in evaluating a possible investment in PLS or that would be required in a prospectus or a product disclosure statement p repared in accordance with the Corporations Act 2001 ( Cth) (“Corporations Act”) or the securities laws of any other jurisdiction. The information in this document should be read in conjunction with PLS’ other periodic and continuous disclosure announcements lodged on the AS X. No liability The information contained in this document has been prepared in good faith by PLS, however no guarantee, representation or warra nty expressed or implied is or will be made by any person (including PLS and its affiliates and their directors, officers, em ployees, associates, advisers and agents) as to the accuracy, reliability, correctness, completeness or adequacy of any statements, estimates, opt ions, conclusions or other information contained in this document. No person other than PLS is responsible for the preparation of this document. To the maximum extent permitted by law, PLS and its affiliates and their directors, officers, employees, associates, advisers and agents each expressly disclaims any and all liability, including, without limitation, any liability arising out of fault or negli gence, for any loss arising from the use of or reliance on information contained in this document including representations or warranties or in relation to the accuracy or completeness of the information, statements, opinions, forecasts, reports or other matters, express or implied, contained in, arising out of or derived from, or for omissions from, this document including, without limitation, any financial information, any es timates, forecasts, or projections and any other financial information derived therefrom. Statements in this document are made only as of the date of this document unless otherwise stated and the information in this document remains subject to change without notice. No responsibi lity or liability is assumed by PLS or any of its affiliates (or their directors, officers, employees, associates, advisers and agents) for updating any information in this document or to inform any recipient of any new or more accurate information or any errors or mis -descriptions of which PLS or any of its affiliates or advisers may become aware. Not financial product advice This document does not constitute financial product advice or take into account your investment objectives, taxation situation, financial situation or needs. Nothing in this document is intended to be or imply a recommendation or a statement of opinion in respect of whether to buy, sell or hold a financial product. An investment in PLS is considered to be speculative in nature and is subject to known and unknown risks, some of which are beyond the control of PLS. Before making any investment decision in connection with any ac quisition of securities, investors should consult their own legal, tax and/or financial advisers in relation to the information in, and ac tion taken on the basis of, this document. Forward-looking statements This document contains forward-looking statements. All statements, other than statements of historical or present facts, are for ward-looking statements, including but not limited to, those regarding possible or assumed production, sales, future capital and operating costs, projected timeframes, performance, dividends, returns, revenue, exchange rates, potential growth of PLS, the timing and amount o f synergies, the future strategies, results and outlook of the Pilgangoora Operation, the outcomes of preliminary and definit ive feasibility studies, projections, guidance on future earnings and estimates, industry growth, commodity or price forecasts, or other projections and any estimated Group earnings are or may be forward-looking statements. Forward-looking statements may be identified by words suc h as ‘project’, ‘foresee’, ‘plan’, ‘expect’, ‘aim’, ‘intend’, ‘anticipate’, ‘believe’, ‘estimate’, ‘may’, ‘should’, ‘will’ or similar expressions. Forward-looking statements are provided as a general guide only and should not be relied upon as an indication or guarantee of f uture performance. These statements relate to future events and expectations and as such involve known and unknown risks and significant uncertainties, many of which are outside the control of PLS. Actual results, performance, actions and developments of PLS may differ materially from those expressed or implied by the forward- looking statements in this document. Such forward- looking statements speak only as of the date of this document. There can be no assurance that actual outcomes will not differ materially from these statements . To the maximum extent permitted by law, PLS and any of its affiliates and their directors, officers, employees, agents, ass ociates and advisers: disclaim any obligations or undertaking to release any updates or revisions to the information in this document to reflect any c hange in expectations or assumptions; do not make any representation or warranty, express or implied, as to the accuracy, rel iability or completeness of the information in this document, or likelihood of fulfilment of any forward- looking statement or any event or r esults expressed or implied in any forward-looking statement; and disclaim all responsibility and liability for these forward- looking statements (including, without limitation, liability for negligence). Nothing in this document will under any circumstances create an im plication that there has been no change in the affairs of PLS since the date of this document. Guidance as to production, unit costs and capital expenditure Any guidance as to production, unit costs and capital expenditure in this document is based on assumptions, budgets and estim ates existing at the time of assessment which may change over time impacting the accuracy of those estimates. These estimates are developed in the context of an uncertain operating environment including in respect of inflationary macroeconomic conditions and uncertaintie s surrounding the risks associated with mining and further optimisation of the Pilgangoora Operation operating model which may impact production and have a flow on effect on sales. Actual results may therefore vary significantly depending on these risks and the timing required to address them. These statements should not be relied upon as a predictor of future performance. Reporting of Mineral Resources and Ore Reserves Recipients of this document outside Australia should note that it is a requirement of the Australian Securities Exchange list ing rules that the reporting of ore reserves and mineral resources in Australia comply with the Australasian Joint Ore Reserves C ommittee Code for Reporting of Mineral Resources and Ore Reserves (2012 edition) (“JORC Code”), whereas mining companies in other countries may be required to report their ore reserves and/or mineral resources in accordance with other guidelines (for example, SEC mining dis closure rules in the United States). Estimates of reserves and resources are largely dependent on the interpretation of data and may prove to be incorrect over ti me. No assurance can be given that the reserves and resources presented in the document will be recovered at the levels presented or at all. You should not assume that quantities reported as “resources” are capable of being reclassified as ore reserves under the JOR C Code or as reserves under any other reporting regime, including SEC mining disclosure rules. The inclusion of resource estimates should not be regarded as a representation that these amounts can be economically exploited, particularly inferred resources, and you are cautioned not to place undue reliance on those estimates.
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Important notices 45 Important Information regarding Mineral Resources, Ore Reserves and production targets Information in this document regarding production targets and expansions in nameplate capacity of the Pilgangoora Operation i n respect of the P1000 operating models and the P2000 expansion project, are underpinned solely by the Group’s existing Pilgangoora Operation Ore Reserves that have been prepared by Competent Persons (Mr Ross Jaine) for open pit and stockpile ore reserves and (Mr Sim on Kusabs) for underground ore reserves in accordance with the JORC Code. The Pilgangoora Operation Ore Reserve estimates were released by PLS to ASX on 16 October 2026 in the Pilgangoora Ore Reserves a nd Mineral Resource Update Announcement. The relevant proportions of proved Ore Reserves and probable Ore Reserves underpinni ng the production targets are 6% proved Ore Reserves and 94% probable Ore Reserves. The Group confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the original market announcement. The Group confirms it is not aware of any new information or data that materially affects the information included in the Pilgangoor a Ore Reserve and Mineral Resource Update Announcement, and that all material assumptions and technical parameters underpinning the Ore Reserves estimates continue to apply and have not materially changed. Information in this document relating to Mineral Resource estimates is extracted from the Pilgangoora Ore Reserve and Mineral Resource Update Announcement. The Group confirms that the form and context in which the Competent Persons’ findings are present ed have not been materially modified from the original market announcement. The Group confirms that it is not aware of any new inform ation or data that materially affects the information included in the Pilgangoora Ore Reserve and Mineral Resource Update Announcem ent and that all material assumptions and technical parameters underpinning the Mineral Resource estimates continue to apply and have not materially changed. The production targets, financial forecasts and other forward- looking statements in this document (such as NPV, IRR, capital expenditure and operating cost estimates) were released by PLS to the ASX on 16 October 2026 in the P2000 FID Announcement. PLS confirms that all material assumptions underpinning the production targets and financial forecasts continue to apply and have not materia lly changed. Reliance on third party information The views expressed in this document contain information that has, in some respects, been derived from third party sources and has not been independently verified by PLS. Although PLS believes that such sources are reliable, no representation or warrant y is made as to the accuracy, completeness or reliability of the third party information. This document should not be relied upon as a recomm endation or forecast by PLS. Rounding Throughout this document, the sum totals may not add exactly due to rounding. Past performance Statements about past performance are not necessarily indicative of , and should not be relied upon as a representation of , future performance. References to Australian dollars All references to dollars ($) and cents in this report are to Australian currency, unless otherwise stated. Acceptance By accepting, accessing or reviewing this document you acknowledge, accept and agree to the matters set out above. Authorisation of release Release of this presentation is authorised by Mr Dale Henderson, Managing Director & CEO. Online communications PLS encourages investors to be paperless and receive Group communications, notices and reports by email. This will help further reduce our environmental footprint and costs. Shareholder communications available online include the Annual Report, Voting Forms, Notice of Meeting, Issuer Sponsored Holding Statements and other company related information. Investors can view, download or print shareholding information by choice. T o easily update communication preferences, please visit: www.investorcentre.com/au.