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Lake Resources, Investor Presentation

Investment Highlights – Kachi Project

Lake Resources (ASX:LKE)

- Lithium exploration/development in Argentina - 3 brine lithium & 1 hard rock lithium project
- One of largest lease holdings of Lithium ~ 200,000 Ha, provides scale and optionality

Two Flagship Projects: Kachi - Large Resource; Large Exploration Target

- Large maiden resource: 4.4 Mt LCE combined Indicated & Inferred categories
- Indicated: 1 Mt LCE Inferred: 3.4 Mt LCE
- Large basin 20km x 15km x 400-800m deep: Leases cover entire brine basin 69,000 Ha & 100% owned
- PFS to follow – development optionality – conventional & direct extraction methods
- In southern extension of brine producing area, 80km south of FMC/Livent (producing for 20 years)
- New direct extraction method partnership – Reduction in time to production & lower operating costs

Major Transactions in Area

- Cauchari - next to major acquisition $237M at Cauchari (Gangfeng Aug’18) = 6x LKE market value
- Kachi – south of Galaxy resource sale – US$280 M (POSCO June’18)
- Implied Acquisition Value: US$55-70 M per 1 Mt LCE resource

Undervalued vs Peers:

- Comparisons with other lithium companies in Argentina shows deep value in LKE
- Neighbours market value 300% to 1000% higher. Recent research $0.44 price target

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