CORE LITHIUM LTD — Capital/Financing Update 2026

Apr 29, 2026

Level 4, 186 St Georges Terrace
Perth WA 6000
T 61 8 8317 1700
E info@corelithium.com.au
ABN 80 146 287 809
ASX CXO
CORE
LITHIUM

30 April 2026

ASX: CXO Announcement

Sale of 20,000 tonnes of lithium fines

Highlights

• Agreement with Glencore International AG for the sale of ~20kt of lithium DSO fines at US$290/t (~A$405/t¹) CIF from the existing Finniss fines stockpile, with proceeds expected to be received in the current Quarter²
• Sale to be effected through Darwin Port, utilising the existing Finniss logistics chain
• Core is actively exploring pathways for the sale of the remaining ~55kt fines stockpile

Core Lithium Ltd (ASX: CXO) (Core or the Company) is pleased to advise that it has entered into a binding sale and purchase agreement with Glencore International AG to sell 20,000 tonnes(t) of lithium DSO fines from the Finniss Lithium Project (Finniss or the Project).

The transaction represents a partial monetisation of the lithium fines stockpile currently held at Finniss, with Core progressing pathways for sale of the remaining 55kt DSO fines stockpile. The sale will be executed through the existing Finniss logistics chain to Darwin Port, reactivating export pathways ahead of the planned recommencement of mining and processing activities.

Pricing under the agreement reflects prevailing lithium fines market conditions at the time of sale, with a base price of US$290/t (A$405/t) CIF, based on Li₂O content and subject to pro-rata adjustment for final assay results. Shipment is scheduled for May 2026, with the final laycan to be agreed between the parties.

Gross proceeds are subject to final grade adjustments and transport costs. Funds are expected to be received in the current Quarter, in line with shipment timing and standard settlement terms. The agreement is otherwise unconditional and subject to customary terms for a transaction of this nature.

The sale of the fines follows Core's February 2026 announcement of the sale of its spodumene concentrate³ stockpile and represents another step in the Company's strategy to generate cash flow, maintain asset readiness, and preserve optionality during the lithium market recovery.

corelithium.com.au

1 Based on an exchange rate of AUD/USD $0.72
2 Core will ship 20kwmt of material with the final realised price for material based on dry tonnes. This will be subject to customary adjustments, including (but not limited to) grade, moisture, impurities, transport differentials and other standard commercial terms typical for direct shipping ore (DSO) transactions.
3 Refer to ASX announcement "Sale of Spodumene Concentrate Stockpile" on 26 February 2026.

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Commenting on the fines stockpile sale, Core Managing Director Paul Brown said:

"This sale from our lithium fines stockpile represents a great opportunity for Core to generate cash from material already on site, while retaining the majority of the fines stockpile for potential future sale.

"Completing this transaction with Glencore, one of Core's strategic partners, demonstrates the value of these relationships in providing execution certainty and market access when opportunities arise.

"The February spodumene concentrate sale and this sale will contribute approximately A$18 million to Core and strengthen liquidity to support mining at Finniss, complementing the fully funded restart package and maintaining execution momentum."

Figure 1: Fines material at Finniss

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

For further information, please contact:

Investor Enquiries
Paul Brown
Managing Director
Core Lithium Ltd
+61 8 8317 1700
info@corelithium.com.au

Media enquiries
Cameron Morse
Senior Managing Director
FTI Consulting Limited
+61 433 886 871
cameron.morse@fticonsulting.com

corelithium.com.au

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corelithium.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.

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