Page 1

VULCAN ENERGY ZERO CARBON LITHIUM ™ Quarterly Activities Report June 2021 Highlights : Project Execution • • • • • Binding Lithium Offtake term sheet signed with LG Energy Solution to supply 10,000 metric tonnes per year of lithium hydroxide ( post June 2021 Quarter ) . Direct Lithium Extraction ( DLE ) Pilot Plant designed , built and commissioned by the Vulcan in - house chemical engineering team . DLE plant now successfully operating with > 90 % recoveries , to demonstrate lithium extraction from geothermal brine . Spin - off and IPO initiated of non - core , Scandinavian battery metals projects into a new dedicated vehicle , “ Kuniko Limited ” . Key consultants Hatch Ltd. and GLJ Ltd. have been engaged to assist Vulcan with its Definitive Feasibility Study ( DFS ) ( post June 2021 Quarter ) . New exploration license granted in Upper Rhine Valley ( post June 2021 Quarter ) . ESG Excellence & Team Growth • • • • • Contact Former senior EY Global Renewables Partner Josephine Bush joined the Vulcan Board as a Non - Executive Director , making Vulcan's Board composition 2/3 female . Binding agreement signed to acquire 100 % of geothermal surface consultancy company Global Engineering and Consulting GmbH , adding 35 expert personnel to Vulcan . Lithium process expert Dr Stephen Harrison appointed as Chief Technical Officer and Daniel Tydde appointed as Company Secretary and In - House Legal Counsel . The Company was admitted to the Global Battery Alliance ( GBA ) , an umbrella partnership made up of 70 members working towards a sustainable battery value chain globally . The Company became certified as carbon neutral by Climate Active for Australian operations , in line with its mission to become the world's first Zero Carbon Lithium ™ Project . Experienced chemicals industry executive Markus Ritzauer as CFO of Vulcan's German operations , effective from 1 September ( post June 2021 Quarter ) . Level 11 , Brookfield Place 125 St Georges Terrace Perth WA 6000 Australia 08 6189 8767 Vulcan Energie Resourcen GmbH Baischstr . 8 76133 Karlsruhe ASX Release 29 July 2021 ASX : VUL FRA : 6KO Fast Facts Issued Capital : 108,759,113 Market Cap ( @ $ 9.52 ) : $ 1.035b Highlights Globally unique Zero Carbon Lithium ™ Project . Combined lithium chemicals & renewable energy project in the Upper Rhine Valley of Germany . EU's largest lithium resource . Located at the heart of the EU Li - ion battery industry . Fast - track development towards supplying the EU's battery & electric vehicle industry . Corporate Directory Managing Director Dr Francis Wedin Chairman Gavin Rezos Executive Director Germany Dr Horst Kreuter Non - Executive Director Ranya Alkadamani Non - Executive Director Annie Liu Non - Executive Director Dr Heidi Grön Non - Executive Director Josephine Bush Company Secretary Daniel Tydde www.v-er.com info@v-er.eu @VulcanEnergyRes V