CORE LITHIUM LTD — Capital/Financing Update 2025

May 11, 2025

Level 9, 2 Mill Street Perth WA 6000

T 61 8 8317 1700 ABN 80 146 287 809 E info@corelithium.com.au ASX CXO

==> picture [95 x 32] intentionally omitted <==

12 May 2025

ASX: CXO Announcement

Settlement of Yahua Offtake Agreement

Highlights

• The legacy offtake agreement with Yahua has been terminated

• Full settlement effected through payment of US$2 million in cash

• This termination provides strategic options and flexibility for the potential restart of operations

Core Lithium Ltd ( ASX : CXO ) ( Core or the Company ) advises that it has settled the legacy offtake agreement with Yahua International Investment and Development Co. ( Yahua ) in relation to sale of spodumene concentrate from the Finniss Lithium Operation ( Finniss ), situated 88km southwest of the Darwin Port.

The Company signed a spodumene concentrate agreement with Yahua in 2019[1] , updated with a supplementary agreement in 2022. Yahua and Core have agreed to terminate the offtake agreement through the execution of a comprehensive, legally binding deed of release.

As part of the settlement, the Company has agreed to pay US$2 million in cash, which can be settled from current cash reserves.

The Finniss Restart Study continues progressing well and is on track for completion in the June quarter of 2025.

Core Lithium CEO Paul Brown commented:

“We appreciate the constructive approach of Yahua in reaching this agreement, which reflects the long relationship between our two companies.

The settlement of this legacy offtake agreement provides greater scope and opportunity for securing strategic funding sources to support a future restart of the Finniss Lithium Operation, which remains subject to Board approval.”

1 Refer to ASX announcement “Yahua Increases Lithium Concentrate Offtake Commitment” on 1 April 2019

corelithium.com.au

This announcement has been approved for release by the Board of Core Lithium Ltd.

For further information, please contact:

Investor Enquiries	Media enquiries
Paul Brown	Michael Vaughan
CEO	Executive Director
Core Lithium Ltd	Fivemark Partners
+61 8 8317 1700	+61 422 602 720
info@corelithium.com.au	michael.vaughan@fivemark.com.au

About Core

Core Lithium Ltd ( ASX : CXO ) ( Core or Company ) is an Australian hard-rock lithium company that owns the Finniss Lithium Operation on the Cox Peninsula, south-west and 88km by sealed road from the Darwin Port, Northern Territory. Core's vision is to generate sustained shareholder value from critical minerals exploration and mining projects underpinned by strong environmental, safety and social standards.

For further information about Core and its projects, visit www.corelithium.com.au

Important Information

This announcement may reference forecasts, estimates, assumptions and other forward-looking statements. Although the Company believes that its expectations, estimates and forecast outcomes are based on reasonable assumptions, it cannot assure that they will be achieved. They may be affected by various variables and changes in underlying assumptions subject to risk factors associated with the nature of the business, which could cause results to differ materially from those expressed in this announcement. The Company cautions against reliance on any forward-looking statements in this announcement.

2

corelithium.com.au