INFINITY METALS LIMITED — Investor Presentation 2020

Nov 10, 2020

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NOOSA MINING CONFERENCE ONLINE

Infinity Lithium Corporation Limited (‘ Infinity ’, or ‘ the Company ’) is pleased to be presenting online at the Noosa Mining & Exploration Investor Conference on Wednesday 11 November 2020. Shareholders and investors are able to view the investor presentation by Managing Director Ryan Parkin by registering for the conference.

Noosa Mining & Exploration Investor Conference

11 November 2020: 11am WST Registration online at https://www.noosaminingconference.com.au/

The announcement was authorised by the Managing Director. For further details please contact:

Ryan Parkin Lucas Robinson CEO, Managing Director Corporate Storytime Investor Relations T: +61 (8) 6146 5325 T: +61 (0)408 228 889 E: rparkin@infinitylithium.com E: lucas@corporatestorytime.com

ASX Release 11 November 2020 ASX: INF FRA: 3PM

Project highlights

2[nd] Largest JORC hard rock lithium deposit in the EU

Strategically located in Spain, Europe to be the 2[nd] largest market for battery grade lithium after China

1st lithium project to secure EIT InnoEnergy Funding

Uniquely fully integrated project with mine and adjacent conversion plant

Low carbon footprint and sustainable operation

Corporate Directory

Ryan Parkin Managing Director & CEO

Adrian Byass Non-Executive Chairman

Remy Welschinger Non-Executive Director

Jon Starink Executive Director

Contact

Level 3, 22 Railway Road Subiaco WA 6008

T: +61 (8) 6146 5325 E:admin@infinitylithium.com W: www.infinitylithium.com W: www.sanjosevaldeflorez.es

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Infinity Lithium Corporation Limited ACN 147 413 956

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ASX : INF FRA : 3PM

NOOSA MINING & EXPLORATION INVESTOR CONFERENCE

Presentation 11 November 2020

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Disclaimer

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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 in order 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 the purchase 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 needs and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. Recipients should seek professional 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 political developments.

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 or omissions 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 the control 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 cautioned not 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 continuing obligations 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 any changes 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 of deposit 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 and observed 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 and consents 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 employee of 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 a Competent 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 which it appears.

Pre-Feasibility Study – Cautionary Statement

The Study referred to in this announcement is a preliminary technical and economic investigation of the potential viability of the San José Lithium Project. It is based on low accuracy technical and economic assessments, (+/- 25% accuracy) however is sufficient to support estimation of Ore Reserves or to provide assurance of an economic development case at this stage; or to provide certainty that the conclusions of the Study will be realised. Infinity is in Joint Venture (‘JV’) with Valoriza Mineria SA, a subsidiary of SACYR S.A. Infinity have independently engaged the services of Wave International Pty Ltd (‘Wave’) to assess the technical and economic viability with regards to producing battery grade lithium hydroxide under the San José Lithium Project. Whilst the Pre-Feasibility Study has yielded robust outcomes and provided independent perspective on the opportunity to produce battery grade lithium hydroxide, there is no guarantee that the JV will choose to adopt the outcomes of the study.

The Production Target referred to in this presentation is based on 100% Probable Reserves for the life of mine life covered under the Study. In accordance with the thirty (30) year mine plan incorporated into the Study, the first three (3) years of production (covering payback period) will come 100% from Probable Reserves.

The Study is based on the material assumptions outlined below and include assumptions about the availability of funding. While the Company considers all the material assumptions to be based on reasonable grounds, there is no certainty that they will prove to be correct or that the range of outcomes indicated by the Study will be achieved. To achieve the potential mine development outcomes indicated in the Study, additional funding will be required. Investors should note that there is no certainty that the Company will be able to raise funding when needed however the Company has concluded it has a reasonable basis for providing the forward looking statements included in this announcement and believes that it has a “reasonable basis” to expect it will be able to fund the development of the San José lithium deposit.

To achieve the outcomes indicated in this Study, initial funding in the order of US$309m (which includes a 15.3% contingency) will likely be required, and US$318m (including a 15.3% contingency) over the life of the Project. Investors should note that there is no certainty that Infinity will be able to raise funding when needed. Infinity holds a total of 75% interest in the San Jose Lithium Project, with Valoriza Mineria holding the balance of 25% interest. It is also possible that Infinity can pursue a range of funding strategies to provide funding options. It is also possible that such funding may only be available on terms that may be dilutive to or otherwise affect the value of Infinity’s existing shares. It is also possible that Infinity could pursue other value realisation strategies such as sale, partial sale, or joint venture of the Project. If it does, this could materially reduce Infinity’s proportionate ownership of the Project. Given the uncertainties involved, investors should not make any investment decisions based solely on the results of this Pre-Feasibility Study.

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Infinity Lithium Corporation Limited

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Infinit Lithium: Overview y

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SNAPSHOT

Building the capability to supply lithium chemicals that are critically required for the EU’s rapid transition to electric mobility

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Fully integrated lithium hydroxide production in the EU

CORPORATE INFORMATION (ASX:INF)

~ Shares on issue 310.3m Options, SARS ~ 53.3m Share price[(1)] A$0.10 Market Cap[(2)] A$36.4m Cash[(3) (Debt: nil)] A$4.8m

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Essential component in EU’s lithium-ion battery value chain

Leveraging the EU’s rapid adoption of electronic vehicles

European financial, technical and commercial endorsement

Tier 1 project with compelling financial fundamentals

BOARD OF DIRECTORS

	Adrian Byass Non Executive Chairman Jon Starink Chief Technical Officer RemyWelschinger Non Executive Director Ryan Parkin CEO & ManagingDirector

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□
□
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Jon Starink: Chief Technical Officer

□ Highly credentialed lithium expert □ Significant experience in hard-rock lithium projects & development of downstream lithium chemical conversion facilities

• (1) Closing share price as at 9 November 2020 (2) Fully diluted market capitalisation as at 9 November 2020 (3) Cash as at 9 November 2020

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EV Uptake

Adoption of EVs are rapidly accelerating in the EU

Strategic Political Focus

EU Policy for LIB[(1) ] value chain self-sufficiency

Hydroxide for EVs

Lithium hydroxide is the high value, high-growth product

Geopolitically Impacted

EU Remains Critically Exposed to China

EU Endorsement

Investment & support by EIT InnoEnergy

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Why Infinity Lithium?

❑ European Governments are driving mega-trend towards electrified vehicles.

❑ EU, the 2[nd] largest but fastest growing EV market in the world during 2020.

❑ EU committed to develop domestic mining and refining capacity for battery metals. ❑ Lithium on EU List of Critical Raw Materials & launch of European Raw Material Alliance.

❑ Lithium hydroxide used in high Ni content cathodes: greater energy densities & range. ❑ . Global demand for lithium hydroxide projected to surpass lithium carbonate by 2023[(2)]

❑ China produces 83% of global lithium hydroxide supply – EU currently produces 0%. ❑ Diversifying lithium hydroxide supply imperative for European policy makers and industry.

❑ Tier 1 Project has secured direct financial endorsement from EIT InnoEnergy.

❑ Dorfner Anzaplan in Germany conducting test work for lithium hydroxide production.

(1) Lithium-ion battery (2) Canaccord Genuity Estimates: September 2020

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San José Lithium Project: Highlights

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FULLY INTEGRATED PRODUCTION

of battery grade lithium hydroxide

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INF: 75% project ownership; option to acquire 25% EU’s 2[nd] largest hard-rock lithium resource

Planned production ~ 15kt pa[(1) ] lithium hydroxide

Project life 30yrs Pre-production Capex US $309m[(2) ] NPV : US$860m IRR: 42.3% (10)

(1) Average 1[st] 10 years of production (2) Includes contingencies, total US$268m excluding contingencies

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EU Policy: Driving the EV Mega Trend

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The EU is committed to a Net Zero Carbon 2050 target

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Strict regulations on emissions

are driving EU companies to be at the forefront of lithium-ion battery value chain investments

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Indicative Fines for Exceeding Emissions Targets: Major Carmakers[(1)]

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Fines for emissions in the € billions

EU auto manufacturers are not expected to meet the new 95g/km CO2 target and could face fines amounting to more than €20 billion in both 2021 and 2022[(1)] .

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INCENTIVES

26 out of 27 EU member states providing substantial subsidies and tax incentives for consumers and businesses to switch to EV’s.

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• ❑ Proposing a €20B purchasing facility

• ❑ Potential future exemption from VAT

• ❑ Subsidies of up to €9,000

• ❑ Pure EV vehicle tax exemption extended to 2050

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(1) Source: Autovista Group based on ICCT and ACEA data

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Recent EU Developments

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EU MASS ADOPTION OF EVs

Driven by policy, EV registrations in the EU pass diesel ICEs for the 1[st] time at in Q3 2020

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Launch of Raw List of Critical Raw
Materials Alliance Materials
European automakers need to transition to EV production rapidly as consumer preferences
and government policies drive development away from internal combustion engines.
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(1) Source: JATO 29 October 2020

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Infinity Lithium: Lithium Market & EU Focus

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$24m
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Maros Šefčovič Vice President of the European Commission Leader of EBA & ERMA “What we need is access to the raw materials, but also need to build refining capacity.”

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Forecast EU Lithium-ion Battery Cell
Production [(2)]
2 [nd]
2029
Europe is forecast be
Equivalent
the 2 [nd] largest
producer of
Electric vehicles
20m EVs
Lithium-ion
batteries
Cathodes
>390kT
LCE
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(1) Source: Euractiv 20 October 2020 “EU’s Šefčovič: Europe must be ‘much more strategic’ on raw materials.” (2) Source: Benchmark Mineral Intelligence

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EU Lithium-ion Battery Value Chain

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Hard Rock Chemical
Resource Conversion
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Cathode Lithium-ion Battery Cell Electric Production Production & Assembly Vehicles

• ❖ The existing supply chain for lithium-ion batteries for EV production in the EU is grossly inefficient and carbon intensive.

European production capacities for cathodes, batteries and EVs is booming

• ❖ There has been significant investment in lithium-ion battery gigafactories in the EU, however there is currently no lithium hydroxide produced in the EU.

• ❖ Infinity plans to exploit the San José Lithium deposit to sustainably produce a high-value battery grade lithium hydroxide product on the doorstep of Western Europe’s cathode, battery and EV manufacturing centres.

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Low Cost on a Global Scale, EU Advantage

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$/t LIOH Lithium Hydroxide Cost Curve (2022, US$/t)
12,000
Non-integrated:
Merchant conversion
10,000 OPEX
SAN JOSE
$5,434¹
8,000
Chinese convertors
6,000
produced 83%
of lithium hydroxide in
4,000 2019
2,000
0
0 40 80 120 160 200 240 280
Cumulative Production (000t) Source: Canaccord 2019
(1) Average C1 cost over 10 years of production including ramp-up and C1 cost at nameplate capacity is US$5,043/t, without by-product
credits. Potential tin and boron credits are available and are being assessed in the ongoing optimization studies.
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EIT InnoEnergy & Infinity Lithium

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Infinity: The 1st Lithium Project to Secure EU Funding through EIT InnoEnergy

Under the Business Investment Platform

EIT InnoEnergy

• ❑ Manages EBA industrial development programme EBA250

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Direct Investment

• ❑ Payable in 3 tranches for phase one

€800,000 (~ A$1.3m)

• ❑ Funding aligned to test work for feasibility study

European Battery Alliance

• ❑ Launched in Oct 2017

• ❑ Aim: create competitive and fully integrated battery manufacturing chain in the EU

• ❑ EBA250: Annual market value is estimated at €250 billion from 2025 onwards

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• ❑ Test work currently underway

€2.4m[(1)] (~ A$4.0m)

Fundraising

• ❑ Support and facilitate investment for phase two ❑ Funding aligned to pilot plant

€300m[(2)] (~ A$500m)

Project Finance

Business Investment Platform

• ❑ EBA launched BIP in Sept 2019

• ❑ €70bn investment in batteries is required in the EU by 2023

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• ❑ Assist in securing full project financing ❑ Debt & equity

• ❑ Assist in securing offtake ❑ IP licensing agreement

Services

• ❑ Advisory & support personnel

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Net Carbon Neutral 2050: EU Funding

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EU’s economic recovery aligned to transforming the EU’s economy for a sustainable future through investment in digital, renewable energy and environmentally sustainable projects.

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• ❑ The EU Green Deal has estimated the requirement for €1Trillion to be invested in initiatives to achieve Net Carbon Neutral 2050 ambitions.

• ❑ €750 billion in grants and low-interest loans.

• ❑ Johannes Hahn, commissioner for the EU budget has called for selling sustainable (green) bonds as part of an unprecedented debt-raising exercise that is expected to begin early next year.

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• ❑ The European Investment Bank (EIB) is mandated to assist funding for projects which further EU policy goals.

• ❑ The EIB identified the significant gap in the market, reinforcing their focus on “raw materials and refining facilities”

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“Last year, the EIB changed their energy lending mandate and started working with potential European suppliers of lithium, to invest in extraction and processing , which is very important for investors.”

Maros Šefčovič

Vice President of the European Commission Leader of EBA & ERMA

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Prioritising Sustainable & Ethical Sourcing

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environmental standards for batteries: an European Commission will propose new effort to outgreen China & offer local producers a way to differentiate their production from Asian competitors.

Europe plans ‘battery passport’ to ensure responsible sourcing of materials

September 2020: VW appoints supply chain watchdog RCS Global

• Raw materials entering supply chains to be extracted, produced and processed in a responsible manner – particularly for sustainable products

• ID.3 & ID.4 models produced with carbon neutral footprint

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Good Citizens: ESG Profile

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San José is a sustainable and fully integrated project aligned to the EU’s green strategic targets

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Very low strip ratio: producing minimal waste

EU sourced reagents: common fertilizer used instead of sulfuric acid

Recycling of key inputs: potassium sulphate and water

Dry stack tailings: benign waste profile allows continuous rehabilitation

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100% of electricity capable of being provided by renewable energy sources

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No shipping of plant feedstock: resource & conversion plant on site

Close to EU end markets: high value product close to end users, minimal CO2 transport footprint

Product applied to clean, green technologies and industries

Project will generate long term & skilled employment in the locality of Caceres

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Infinity Lithium: Milestones

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

Increase San José project ownership

Expand in-country management team Complete phase one test work

Renegotiate JV agreement 

Produce 1[st] samples of battery grade LiOH



Complete test work: produce LiOH

Complete class 3 feasibility study Finalise granting of investigation permits Submit mining licence application MoU offtake agreement / technical partner Commence phase two pilot plant Appoint advisor to assess EU listing

Delivery of PFS 

Strategic investment: EIT InnoEnergy 



Appoint key technical executive Divestment of non-core assets



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Summa Summary

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First Project To Sign Binding European Funding Deal with InnoEnergy

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Infinity is Strategically Located to Support Strong Demand Outlook For Lithium In Europe

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A Large And Long-Term Asset Supporting EV Growth

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A Uniquely Fully Integrated Lithium Project

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San José Lithium Project Supported by Strong Economics Sustainable, Low Carbon Footprint Operation Project Aligned to EU Strategic Objectives

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Follow Us
infinitylithium.com
sanjosevaldeflorez.es
Infinity Lithium
@Infinitylithium
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