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ACN 147 413 956 Infinity Lithium Corporation Limited ASX:INF www.infinitylithium.com ASX: INF ANNOUNCEMENT 1 February 2019 European Conferences and 9 th International Advanced Automotive Battery Conference Presentation HIGHLIGHTS Infinity engages with key European stakeholders at EBA250 with raw materials and chemical processing capabilities remaining a high priority for the European Commission, European Investment Bank, and major European automobile OEMs European Investment Bank actively seeking to support European raw materials and refining projects to strengthen the strategic position of the European Union lithium-ion battery and electric vehicle sectors Infinity presents development of the European lithium-ion battery supply chain to leading battery technology delegates and key automotive OEM suppliers at the 9 th Advanced Automotive Battery Conference European Battery Alliance EBA250 – Brussels Infinity Lithium Corporation Limited (‘Infinity’ or ‘the Company’) was invited to attend The European Battery Alliance (‘EBA’) EBA250 and participate in round table discussions with delegates. EBA250 focused on the progression of European interests in the lithium-ion battery supply chain with particular onus on the investment and commitment required further upstream in battery chemical production. European battery cell production and assembly has accelerated interest in the alignment of financial institutions and business in battery industry fundamentals. In more than five decades Europe has not been presented a more significant opportunity than that of the electrification of vehicles and energy storage. Jens Weise (Head of Industrial Co-operations and Partnerships, Volkswagen AG) outlined Volkswagen’s “Strategy 2025 - Building cars for millions, not millionaires” to produce 50 electric vehicle (‘EV) and 30 plug-in hybrid electric vehicle models (‘PHEV’) by 2025, and the requirement for the equivalent of 6 lithium-ion battery (‘LIB’) giga-factories to facilitate solely Volkswagen’s demand. Both Mr Weise and Andrew A. McDowell (Vice- President, European Investment Bank, ‘EIB’) called for the reduced dependency of Europe on Chinese LIB battery producers and in particular the control of battery chemicals and cell production. Infinity’s San Jose Lithium Project contains the European Union’s (‘EU’) second largest lithium JORC resource and has recently released a positive scoping study, placing it ideally to supply battery grade chemicals into the European market. For personal use only

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Page 1: European Conferences and 9 For personal use only · European Conferences and 9th International Advanced ... OEM suppliers. The conference was attended by more than 1,000 international

ACN 147 413 956

Infinity Lithium Corporation Limited ASX:INF www.infinitylithium.com

ASX: INF ANNOUNCEMENT

1 February 2019

European Conferences and 9th International Advanced Automotive Battery Conference Presentation HIGHLIGHTS

Infinity engages with key European stakeholders at EBA250 with raw materials

and chemical processing capabilities remaining a high priority for the European Commission, European Investment Bank, and major European automobile OEMs

European Investment Bank actively seeking to support European raw materials and refining projects to strengthen the strategic position of the European Union lithium-ion battery and electric vehicle sectors

Infinity presents development of the European lithium-ion battery supply chain to leading battery technology delegates and key automotive OEM suppliers at the 9th Advanced Automotive Battery Conference

European Battery Alliance EBA250 – Brussels Infinity Lithium Corporation Limited (‘Infinity’ or ‘the Company’) was invited to attend The European Battery Alliance (‘EBA’) EBA250 and participate in round table discussions with delegates. EBA250 focused on the progression of European interests in the lithium-ion battery supply chain with particular onus on the investment and commitment required further upstream in battery chemical production. European battery cell production and assembly has accelerated interest in the alignment of financial institutions and business in battery industry fundamentals. In more than five decades Europe has not been presented a more significant opportunity than that of the electrification of vehicles and energy storage. Jens Weise (Head of Industrial Co-operations and Partnerships, Volkswagen AG) outlined Volkswagen’s “Strategy 2025 - Building cars for millions, not millionaires” to produce 50 electric vehicle (‘EV) and 30 plug-in hybrid electric vehicle models (‘PHEV’) by 2025, and the requirement for the equivalent of 6 lithium-ion battery (‘LIB’) giga-factories to facilitate solely Volkswagen’s demand. Both Mr Weise and Andrew A. McDowell (Vice-President, European Investment Bank, ‘EIB’) called for the reduced dependency of Europe on Chinese LIB battery producers and in particular the control of battery chemicals and cell production. Infinity’s San Jose Lithium Project contains the European Union’s (‘EU’) second largest lithium JORC resource and has recently released a positive scoping study, placing it ideally to supply battery grade chemicals into the European market.

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Page 2: European Conferences and 9 For personal use only · European Conferences and 9th International Advanced ... OEM suppliers. The conference was attended by more than 1,000 international

ACN 147 413 956

Infinity Lithium Corporation Limited ASX:INF www.infinitylithium.com

FIGURE 1: REPRESENTATION OF A EUROPEAN FULLY INTEGRATED LITHIUM-ION BATTERY SUPPLY CHAIN

Note: 1) Electric cars include HEV, PHEV and EV. 2) Average battery pack for EV is 33kWh in 2017, 45kWh in 2025 and 52kWh in 2030. 3) PHEV average battery pack around 12kWh, HEV around 1kWh. 4) LCE consumption per kWh averaging 0.9Kg.

The EIB acknowledged the importance of Europe’s strategic position in the LIB supply chain, promoting the sector and the EIB’s commitment to provide capital to facilitate growth EV market and European value chain participants. Mr McDowell noted that the EIB had identified the significant gap in the market for battery chemicals and reinforced the EIB’s specific focus on “raw materials and refining facilities”. The ability to ethically source raw materials and consideration of CO2 emissions remains a priority for the European market. Infinity’s strategic location in the EU and environmentally advantageous process flow sheet reinforces San Jose’s position as a strategically important asset within Europe. Maroš Šefčovič (Vice-President, European Commission, ‘EC’) expressed his desire to continue to bring investments and investors to the LIB and EV sector with more than €300 billion invested to date. The continued threat posed to the European automotive industry from Chinese battery chemical producers, battery cell and assembly manufacturers has seen significant allocations of funding to assist high quality European projects. The updated Strategic Action Plan on Batteries by the EC will bring increased certainty for investments as far as regulation and institutional support are concerned. In a continued theme for the conference, primary and secondary raw materials remain a priority for the EC to address the gap in the existing value chain with no current capacity to refine battery chemicals. The EC and EIB are promoting a harmonised view to building and supporting processing and refining capabilities with Europe. Advanced Automotive Battery Conference – Strasbourg Infinity attended the 9th International Advanced Automotive Battery Conference (‘AABC’) in Strasbourg which brought together a global conglomeration of leading chief battery technology participants from key automotive OEM suppliers. The conference was attended by more than 1,000 international delegates, with industry leading experts gathering to address lithium battery chemistry, battery raw materials, and battery engineering as OEMs are expanding their EV development programs, increasing production and investment commitments.

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Page 3: European Conferences and 9 For personal use only · European Conferences and 9th International Advanced ... OEM suppliers. The conference was attended by more than 1,000 international

ACN 147 413 956

Infinity Lithium Corporation Limited ASX:INF www.infinitylithium.com

Vincent Ledoux-Pedailles presented to a full house as part of the global battery raw materials segment in the development of the lithium-ion battery supply chain in Europe and its influence on critical raw materials. A copy of the presentation is attached to this announcement. Infinity continues to progress the San Jose Lithium Project with joint venture partners Valoriza Mineria (‘Valoriza’), a subsidiary of listed Spanish construction and engineering company Sacyr S.A. For further inquiries please contact;

Ryan Parkin CEO, Managing Director T: +61 (0) 429 228 857 E: [email protected] Nick Morrison

Namcomm Consulting - Principal T: +61 (0) 424 823 100 E: [email protected]

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Page 4: European Conferences and 9 For personal use only · European Conferences and 9th International Advanced ... OEM suppliers. The conference was attended by more than 1,000 international

The Development of the Lithium-Ion

Battery Supply Chain in Europe and its

Influence on Critical Raw Materials

INFINITY LITHIUMVincent Ledoux-Pedailles

January 2019

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Page 5: European Conferences and 9 For personal use only · European Conferences and 9th International Advanced ... OEM suppliers. The conference was attended by more than 1,000 international

Infinity Lithium Corporation

For Consideration❖ This presentation has been prepared by Infinity Lithium Corporation Limited “Infinity Lithium”. This document contains background information about Infinity Lithium current at the date of this

presentation. The presentation is in summary form and does not purport to be all inclusive or complete. Recipients should conduct their own investigations and perform their own analysis inorder to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this presentation.

❖ This presentation is for information purposes only. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to thepurchase or sales of shares in any jurisdiction.

❖ This presentation does not constitute investment advice and has been prepared without taking into account the recipient’s investment objectives, financial circumstances or particular needsand the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. Recipients should seekprofessional advice when deciding if an investment is appropriate. All securities involve risks which include (among others) the risk of adverse or unanticipated market, financial or politicaldevelopments.

❖ To the fullest extent permitted by law, Infinity Lithium, its officers, employees, agents and advisors do not make any representation or warranty, express or implied, as to the currency,accuracy, reliability or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors oromissions from this presentation arising out of negligence or otherwise are accepted.

❖ This presentation may include forward-looking statements. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside thecontrol of Infinity Lithium. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, recipients are cautionednot to place reliance on forward looking statements. Any forward looking statements in this presentation speak only at the date of issue of this presentation. Subject to any continuingobligations under applicable law, Infinity Lithium does not undertaken any obligation to update or revise any information or any of the forward looking statements in this presentation or anychanges in events, conditions, or circumstances on which any such forward looking statement is based.

Competent Persons Statement❖ The information in this report that relates to Exploration Targets and Mineral Resources is based on the information compiled by Mr Patrick Adams, of Cube Consulting Pty Ltd (Perth). Mr

Adams has sufficient relevant professional experience with open pit and underground mining, exploration and development of mineral deposits similar to the style of mineralisation and type ofdeposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of JORC Code He has visited the project area andobserved drilling, logging and sampling techniques used by Infinity Lithium in collection of data used in the preparation of this report. Mr Adams is an employee of Cube Consulting Pty Ltd andconsents to be named in this release and the report as it is presented.

❖ The information in this report that relates to Exploration Results is based on the information compiled or reviewed by Mr Adrian Byass, B.Sc Hons (Geol), B.Econ, FSEG, MAIG and an employeeof Infinity Lithium. Mr Byass has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as aCompetent Person as defined in the 2012 Edition of the JORC Code. Mr Byass consents to the inclusion in the report of the matters based on this information in the form and context in whichit appears.

DisclaimerF

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Page 6: European Conferences and 9 For personal use only · European Conferences and 9th International Advanced ... OEM suppliers. The conference was attended by more than 1,000 international

Infinity Lithium Corporation

Electric mobility From Wait and See mode to Action mode

Batteries Alliances & Long term Supply – Strong Exposure to Asia

Co, Ni, LiEurope Is A Minor Battery Raw Materials Producer

INTRODUCTION

EuropeTo Become #2 Largest EV Maker In The World

EU & Governments

Start To Intervene & Protect The Region

EuropeCould Become The #2 Largest Market For Battery Metals

Large Domestic Resources & Projects To Support The Industry

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Page 7: European Conferences and 9 For personal use only · European Conferences and 9th International Advanced ... OEM suppliers. The conference was attended by more than 1,000 international

Who Really Controls the Lithium-ion Batteries Supply Chain?

Infinity Lithium Corporation

*Including HEV, PHEV & EVSource: IHS Markit

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Page 8: European Conferences and 9 For personal use only · European Conferences and 9th International Advanced ... OEM suppliers. The conference was attended by more than 1,000 international

E-MOBILITY

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Page 9: European Conferences and 9 For personal use only · European Conferences and 9th International Advanced ... OEM suppliers. The conference was attended by more than 1,000 international

“Electric car sales surge in Europe, as diesel car sales slump”

The Driven

“VW capable of building 50 million electric vehicles”

Reuters

El Pais“The Government proposes to veto the sales of gasoline and diesel cars in 2040”

“VW plans to sell electric Tesla rival for less than 20,000 euros”

Reuters

Q3 2018 News The European EV Supply Chain

Infinity Lithium Corporation

“European parliament backs 40% cut in vehicle CO2”European Parliament

“It’s the only way forward': Madrid bans polluting vehicles from city center”

The Guardian

Audi will invest over €14 billion in e-mobility advance

Audi

VW says could build up to 15 million electric cars

Reuters

Volkswagen says last generation of combustion engines to be launched in 2026

Reuters

Brussels agrees 2030 carbon dioxide targets for cars

Financial TimesFor

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Page 10: European Conferences and 9 For personal use only · European Conferences and 9th International Advanced ... OEM suppliers. The conference was attended by more than 1,000 international

Infinity Lithium Corporation

Source: McKinsey Sustainable Mobility Initiative

15

7

3

2

0

5

10

15

20

25

30

2016 2020 2025 2030

Light Vehicle Production

China Europe USA RoW

Mill

ion V

ehic

les p

rod

uced

per

ye

ar

Global EV Outlook – China in the Lead, Europe to Follow

No matter which forecast you are looking at, all predict tremendous growth in EVs

McKinsey: EV production will reach more than 26 million globally by 2030. China is expected to add around 15 million EVs by year 2030 (56% market share), followed by Europe (26% market share) and the US (12% market share)

BNEF: EVs sales to surge to 30 million by 2030. China leads with sales reaching almost 39% of the global market in 2030. China leads on adoption rates, with EVs accounting for 19% of all passenger vehicle sales in China in 2025. Europe is close behind at 14%, followed by the U.S. at 11%

Platts: by 2025, the EU will actually have a deeper penetration rate for EVs (30%) than in China (15%) and in the US (8%). F

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E-Mobility: Electric Cars Are Not The Entire Story

Infinity Lithium Corporation

Road Heavy Road Light Sea/Water Ways Sky

• A large part of the mobility market is unaccounted for in lithium-ion battery forecast

• The road, the sea and the sky will move to electric too with many companies working towards this goal, from the small start

up to the large corporation

• Those applications will lead to further growth for demand and additional pressure on battery raw materials in the future

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LITHIUM-ION

BATTERIES

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Page 13: European Conferences and 9 For personal use only · European Conferences and 9th International Advanced ... OEM suppliers. The conference was attended by more than 1,000 international

Financial Times

“EU to offer billions of funding for electric battery plants, four groups planning to build European rival to Tesla’s ‘gigafactory’”

“BMW Group, Northolt and Umicore join forces to develop sustainable life cycle loop for batteries”

Financial Times

“BASF and Nornickel join forces in European EV battery push”

Reuters

Q3 News around the European Li-ion Battery Supply Chain

Infinity Lithium Corporation

BusinessDesk

“Coventry to become home to UK’s first manufacturing site for electric car batteries”

“Germany has set aside 1 billion euros to support battery cell production”

Reuters“Volkswagen nominates further battery cell supplier – SK Innovation”

VW

“Germany's Varta steps up plans to mass produce electric car battery cells”

Reuters

“Germany wants to have about 30% of global battery production in 2030 take place in Europe.”

Electrive

“France seeks European battery deal as electric car growth accelerates”

Reuters

Daimler to buy $23 billion of battery cells for electric car drive

Reuters

Samsung SDI close to Landing a $1 Billion EV Battery Order from BMZ

Business Korea

Electrive BYD considers European battery cell factory

Audi agrees to assemble battery packs in Germany

Electrive

Germany and France declare support for battery production

Bmwi

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A Number of New Lithium-ion Factories Planned in Europe

Infinity Lithium Corporation

0

300

600

LIB Giga Factories

Capacity by 2025

GW

h

Chin

a

US

Source: Benchmark Minerals

Euro

pe

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Page 15: European Conferences and 9 For personal use only · European Conferences and 9th International Advanced ... OEM suppliers. The conference was attended by more than 1,000 international

Umicore is planning to build a cathode plant in Poland. The first phase of this

investment is included in the € 660 million programme announced earlier this

year. Umicore is due to start deliveries in late 2020.

BASF and Norilsk Nickel enter exclusive negotiations to cooperate on raw

material supply for battery materials production in Europe. BASF intends to

invest up to €400 million in a first step to build production plants for cathode

materials in Europe.

Johnson Matthey expects to start production in 2021-22 in Europe of a

battery material it has developed with improved performance and reduced

cobalt content to contain costs.

Northvolt is also planning to build its cathodes in-house after they start their

battery factory in Sweden.

Cathode Investments in Europe

New Cathode Investments – One More Step Towards Back

Integration

Infinity Lithium Corporation

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ALLIANCES

Metals - Batteries - EV

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2018 Key Agreements & Investments in the Lithium-ion Battery Supply Chain

Lithium Li-ion Cells & Components EV Makers

Nemaska

North America

Lithium

Ganfeng

Pilbara

Galaxy

Kidman

Bacanora

TianqiSQM

Orocobre

Hanwa

Soft Bank

Toyota

Tsusho

Ganfeng

Ganfeng

Mitsui

AMG

Sigma

Kidman

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Page 18: European Conferences and 9 For personal use only · European Conferences and 9th International Advanced ... OEM suppliers. The conference was attended by more than 1,000 international

2018 Key Agreements & Investments in the Lithium-ion Battery Supply Chain

Lithium Li-ion Cells & Components EV Makers

Nemaska

North America

Lithium

Ganfeng

Pilbara

Galaxy

Kidman

Bacanora

TianqiSQM

Orocobre

Hanwa

Soft Bank

Toyota

Tsusho

Ganfeng

Ganfeng

Mitsui

AMG

Sigma

Kidman

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Page 19: European Conferences and 9 For personal use only · European Conferences and 9th International Advanced ... OEM suppliers. The conference was attended by more than 1,000 international

Multiple Lithium Offtake Deals – Dominated by Asia

Infinity Lithium Corporation

37 offtake deals 76% from Asia

51% Chinese8% Europe

55%Feedstock

Supply Deal

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POLITICAL SUPPORT

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Page 21: European Conferences and 9 For personal use only · European Conferences and 9th International Advanced ... OEM suppliers. The conference was attended by more than 1,000 international

European Intervention & Protectionism Is On Its Way

Infinity Lithium Corporation

Patrick Pouyanné - CEO Total

“I will not launch the group and Saft in operations worth several billion

euros if in the end we do not have the fair competitive framework

between us and others”

"Today, if you want to provide an electric vehicle in China with a battery, it must be

built in China by a Chinese manufacturer"

"The dialogue we're having with European governments is to know if we can

protect ourselves like that in Europe."

Maros Sefcovic - Vice President of the European Commission

“The European EV battery market could come to be worth 250 billion

euros annually by 2025” ?“We are ready to discuss … financial assistance – be it under the Important

Projects of Common European Interest (IPCEI) or under Public Private Partnerships

with the European Investment Bank (EIB).”

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Page 22: European Conferences and 9 For personal use only · European Conferences and 9th International Advanced ... OEM suppliers. The conference was attended by more than 1,000 international

Germany Leading European Efforts For Mass Electrification

“I think we should, within the framework of our own strategic abilities, work with

other European countries on our own battery cell production”Angela Merkel

German Chancellor

Christian Hirte

Deputy Economy

Minister

“We have a concentration of risk in the automobile

sector…The industry is too dependent on the combustion

engine…The government therefore wants to help the

sector in its efforts to diversify”

“Germany has set aside 1 billion euros to support battery cell production in order to reduce the

dependence of German carmakers on Asian battery suppliers and protect German jobs”

“The goal is to cover around 30 percent of global demand for battery cells from

German and European production by 2030”

Peter Altmaier

German Economy

Minister

Infinity Lithium Corporation

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• EU push to develop a strategic value chain for manufacturing EV LIBs inside Europe

• Europe now wants to secure access to the raw materials

• Inside Europe, attention has focused on mapping out the raw materials available on

European soil

• “There are new projects for production in Europe. Mines are opening or re-

opening and there is prospection going on to open some new ones”

“EU accelerating plans to develop lithium mining & refining capacity”

EU Finally Focus on Strategic Raw Materials

EU’s Critical Raw Materials

• CRM – strategic classification of raw materials allows for subsidies

and support

• Whilst lithium is not currently on the CRM, movement in the space

suggests the importance and dynamic of supply in raw materials is

readily recognized

Infinity Lithium Corporation

Olga Garcia Garcia, Minister of

Economy & Infrastructure of

Extremadura – Spain

“Mining in Extremadura (Spain) is a key

strategy in the energy transition"

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EUROPEAN

BATTERY METALS

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Page 25: European Conferences and 9 For personal use only · European Conferences and 9th International Advanced ... OEM suppliers. The conference was attended by more than 1,000 international

Today, Europe is Poorly Integrated in the Li-ion battery

Supply Chain

Infinity Lithium Corporation

Middle stream

Lithium-ion

Battery

Battery Manufacturing Chain

EU

Europe remains a small centre for

lithium-ion battery production

Battery plants are owned by Asian

companies

Most battery cells are imported from

Asia

Downstream

Electric Vehicles

Electric Vehicles

Energy Storage

EV

Production

EU

Europe set to become the #2 largest

EV maker in the world

Strong governments incentives in

place

Strong adoption rate expected in the

coming years

Upstream

Battery Metals Supply

Lithium

~100% from China,

Australia, South

America & USEU

Cobalt

Majority from the

Democratic Republic

of Congo & China

Nickel Supply

EU marginal producer

Majority from

Indonesia, Philippines,

Canada, Russia, etc.

EU

EU

Cathodes

EU

Upcoming

investments but

today almost >90%

in Asia

Other

Components

>90% in Asia

EUFor

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A Fully Integrated European Lithium-ion Battery Supply Chain

Infinity Lithium Corporation

Notes: Electric cars include HEV, PHEV and EV. Average battery pack for EV is 33kWh in 2017, 45kWh in 2025 and 52kWh in 2030. PHEV average battery

pack around 12kWh, HEV around 1kWh. LCE consumption per kWh averaging 0.9Kg.

The EU is pushing to have a fully integrated domestic supply chain, from producing EVs all

the way back to producing raw materials. What would it mean for domestic lithium demand?

0

2

4

6

8

10

12

14

2017 2025 2030

European Electric Car Production

Source: HSBC

Million

San Jose Project (15kt/y)

x16times

0

50

100

150

200

250

300

2017 2025 2030

Equivalent Battery ProductionGWh

0

50

100

150

200

250

2017 2025 2030

Lithium Demand EquivalentKt LCE

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Many Paths to Develop an Integrated European Supply Chain

In the Future

Today

Example 2

Example 1

Mining Conversion Cathode Cell Battery EV

Lithium-ion

Battery

Supply Chain

Tomorrow

Example of

multi-level

collaboration

European Mine

Co-owned /

co-developed conversion

plant in the EU

Collaboration with

a cathode maker

Cell and Battery pack manufactured in Europe by

a Japanese producer

Battery fitted in a

European EV

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29%

6%

22%

48%

37%

6%6%

36%

21%

22%21%21%

9%5%7% 3%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2018 2021 2025

EV Battery Chemistry Mix

Other

LFP

NCA

NCM 811

NCM 721

NCM 622

NCM 111

Lithium Hydroxide

Preferred

93% Market

Share by

2025

Cathode Evolution: Nickel-rich NMC to Dominate the Industry

Infinity Lithium Corporation

Source: UBS

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Page 29: European Conferences and 9 For personal use only · European Conferences and 9th International Advanced ... OEM suppliers. The conference was attended by more than 1,000 international

• Remote & harsh climate

• Weather dependant

• High re-agents & logistics costs $$$• Living organism, etc.

• Regulators controlling

sales & Production

quotas

• Water rights

• High political and

economicall risk

• Up to 40% royalties in Chile $$$• Increase cost of production by ~50%*

• New export taxes in Argentina $$$

• Low Li2CO3 production cost

• But additional conversion

costs for LiOH $$$

• Li2CO3 converted

internationally to LiOH

• Additional conversion &

freight costs $$$Brine

Chile

Arg.

Many Paths to Market but Integration & Proximity is Key

1- South America to Asia

* Using an average selling price of US$13,500Infinity Lithium Corporation

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Spodumene

• Remote

• Logistics

costs $

• Mining friendly

• Low political and

economical risk

• Small royalties $

Aus.

Non-integrated

Integrated

Feedstock $$$

Energy

intensive

Hazardous

chemicals

Domestic

Trucking $ Limited domestic re-

agents availability $Energy costs $$

Freight $

Many Paths to Market but Integration & Proximity is Key

Tax $$

Ex-China

Freight $ 8,000 km $

Import

duties $

1- Australia to Asia

Infinity Lithium Corporation

Environmental

penalties &

Shutdowns

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• Mining friendly region

• Low risk

• Low strip ratio

• Open pit

Integrated1-3km

trucking

NO

Import

dutiesDomestic re-agents

available

Gas pipeline

adjacent

San Jose

Spain

Many Paths to Market but Integration & Proximity is Key

3 – Europe to Europe

NO

Royalties

NO

Export

taxes

Infinity Lithium Corporation

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Page 32: European Conferences and 9 For personal use only · European Conferences and 9th International Advanced ... OEM suppliers. The conference was attended by more than 1,000 international

Li Hydroxide – Integrated Mineral Feedstock to Dominate

Infinity Lithium Corporation

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

- 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 45,000 50,000 55,000 60,000

US

$/T

LC

E

2018 Forecasted Supply

Hydroxide Cost Curve, Post-Taxes & Royalties

Independent Converter

Integrated Converter*

Integrated Brine

OPEX SAN JOSE

$5,300 per ton

Source: Orocobre

OPEX SAN JOSE

$5,343

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Page 33: European Conferences and 9 For personal use only · European Conferences and 9th International Advanced ... OEM suppliers. The conference was attended by more than 1,000 international

INFINITY LITHIUMSan Jose Lithium Project

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Page 34: European Conferences and 9 For personal use only · European Conferences and 9th International Advanced ... OEM suppliers. The conference was attended by more than 1,000 international

Infinity Lithium Corporation

Scoping Study – Cautionary Statement

The Study referred to in this announcement is a preliminary technical and economic investigation of the potential viability of the San Jose Lithium-Tin Project. It is based on lowaccuracy technical and economic assessments, (+/- 35% accuracy) and is insufficient to support estimation of Ore Reserves or to provide assurance of an economic development case atthis stage; or to provide certainty that the conclusions of the Study will be realised. The Production Target referred to in this announcement is based on 91% Indicated Resources and 9%Inferred Resources for the life of mine life covered under the Study. In accordance with the twenty four (24) year mine plan incorporated into the Study, the first three (3) years ofproduction (covering payback period) will come 96% from Indicated Resources. For full details of the Study refer to ASX announcement 29 November 2018.

Competent Persons Statement

Snowden Mining (2017) and Cube Consulting (2018) estimated the total Mineral Resource for the San Jose lithium deposit using Ordinary Kriging interpolation methods and reportedabove a 0.1% Li cut-off grade. Full details of block modelling and estimation are contained in the ASX announcement dated 5 December 2017 and updated 22 May 2018.

The Resource which supports the Scoping Study was announced to the ASX on the 23 May 2018. Infinity is not aware of any new information or data that materially affects theinformation included in this ASX release, and Infinity confirms that, to the best of its knowledge, all material assumptions and technical parameters underpinning the resource estimatesin this release continue to apply and have not materially changed.

The resource information in this report that relates to the December 2017 and updates in May 2018, updated Mineral Resources is based on the information compiled by Mr PatrickAdams, FAusIMM CP (Geology) and Mr Adrian Byass B.Sc Hons (Geol), B.Econ, FSEG, MAIG. Mr Adams and Mr Byass have sufficient relevant professional experience with open pit andunderground mining, exploration and development of mineral deposits similar to the style of mineralisation and type of deposit under consideration and to the activity which they areundertaking to qualify as Competent Person(s) as defined in the 2012 Edition of JORC Code. Mr Adams has not visited the project area and has relied on the documented (Byass, 2016-2018, Peters, May 2017) drilling, logging and sampling techniques used by Infinity in collection of data used in the preparation of this report. Mr Adams is a Principal Geologist and aDirector of Cube Consulting Pty Ltd and consents to be named in this release and the report as it is presented. Mr Byass is employed by Infinity as a geologist and has visited the siteduring pre and post drilling activities, and consents to be named in this release and the report as it is presented.

Production Target and Scoping Study: The information in this report that relates to Exploration Results is based on the information compiled or reviewed by Mr Adrian Byass, B.Sc Hons(Geol), B.Econ, FSEG, MAIG and an employee of Infinity. Mr Byass has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to theactivity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the JORC Code for Reporting of Exploration Results, Exploration Targets, MineralResources and Ore Reserves. Mr Byass consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.

DisclaimerF

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Page 35: European Conferences and 9 For personal use only · European Conferences and 9th International Advanced ... OEM suppliers. The conference was attended by more than 1,000 international

San Jose Lithium Project

Scoping Study*Lithium Carbonate – Completed Lithium Hydroxide – Completed

Feasibility Study Underway

Project life24 years Average 13kpta* LC depletes <50% of JORC resource

JORC Resource (reported above 0.1% Li cut-off)

111.2Mt* (#2 in the EU) (Ind. 59Mt, Inf. 52.2Mt)>1.6Mt LCE

Life of mine strip ratio <1.2:1

Average ROM (yr1-8) 0.85% Li20 : 2.1% LCE*

Plant feedstock 1.4% Li20 : 3.5% LCE*

Product - battery grade Lithium Hydroxide: 13-16kt pa +56.5%

Ownership 50% JV interest moving towards 75% JV interest

Infinity Lithium Corporation

San Jose Lithium ProjectLocation: Extremadura – Spain

Market: Europe & Global

*See Disclaimer on previous slide

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Page 36: European Conferences and 9 For personal use only · European Conferences and 9th International Advanced ... OEM suppliers. The conference was attended by more than 1,000 international

Fully Integrated Project - From Mining to Lithium Hydroxide

Infinity Lithium Corporation

• 2nd Largest Lithium JORC in the EU

• EU & Spain: Low investing risk

• 2.5h from Madrid via highway

• Extremadura – a proactive mining

region

• Brownfield project & long life

project - potentially decades • Open pit – low risk, cheap

bulk mining

• JORC well supported ~12km

of drilling completed

• Very low strip

ratio <1.2:1

MiningFor

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Page 37: European Conferences and 9 For personal use only · European Conferences and 9th International Advanced ... OEM suppliers. The conference was attended by more than 1,000 international

Fully Integrated Project - From Mining to Lithium Hydroxide

Infinity Lithium Corporation

• Fully integrated operation

• Chemical plant <3km away

from the mine

• No royalties or duties on the

import of lithium concentrate

• Proven production process

• Low cost production

• Gas pipeline adjacent to the plant

• Low temperature process

• Environmentally friendly

water leach

• Using safe reagents

• LiOH Battery Grade

• Preferred lithium chemical

for cathode manufacturers

• Sealed dual lane highway

adjacent to the plant –

connected by major

arteries to Europe

Europe to be #2 largest EV

market in the world and #2

largest Li-ion batteries

producerProcessing to end marketsFor

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Page 38: European Conferences and 9 For personal use only · European Conferences and 9th International Advanced ... OEM suppliers. The conference was attended by more than 1,000 international

Scoping Study Project Economics* - Lithium Hydroxide (100% Project Basis)

Infinity Lithium Corporation

*See Disclaimer slide

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Page 39: European Conferences and 9 For personal use only · European Conferences and 9th International Advanced ... OEM suppliers. The conference was attended by more than 1,000 international

INFINITY LITHIUMDeveloping lithium production in Europe to

power a renewable future

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