INFINITY METALS LIMITED — Investor Presentation 2021

Mar 16, 2021

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INVESTOR CONFERENCE PRESENTATION &

EU BATTERY ALLIANCE UPDATE

HIGHLIGHTS

• Infinity will present at the Australian Energy and Minerals Investor Conference on 17 March 2021.

• 5th Ministerial Meeting of the European Battery Alliance prioritises sustainable local sourcing and processing of raw materials used in batteries.

• Public funding aligned to raw materials through Coronavirus Recovery & Resilience plans and through the European Investment Bank.

• The European Commission will launch a group that will focus on the sustainable extraction of raw materials.

ASX Release 17 March 2021 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

Australian Energy & Minerals Investor Conference

Infinity Lithium Corporation Limited (‘ Infinity ’, or ‘ the Company ’) is pleased to be presenting online at the Australian Energy and Minerals Investor Conference on Wednesday 17 March 2021. Shareholders and investors are able to view the investor presentation by Managing Director Ryan Parkin by registering for the conference.

Australian Energy and Minerals Investor Conference 17 March 2021: 7:45am WST

Registration online at https://www.australianenergyconference.com.au/

5[th] Ministerial Meeting of the European Battery Alliance

The European Commission, Ministers from leading Member States and European Investment Bank (‘EIB’) met on 12 March 2021 and noted major items of priority for Member States with significant investments in the battery value chain.

Public Funding for Sustainable Local Sources & Processing of Raw Materials

European Commission Vice-President Maroš Šefčovič stated that it is essential for Member States to strengthen the sustainable local sourcing and processing of raw materials used in batteries, calling for greater mobilisation of public funding under COVID national recovery and resilience plans for raw and advanced materials.

Ryan Parkin Managing Director & CEO

Adrian Byass Non-Executive Chairman

Remy Welschinger 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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Mr Šefčovič also highlighted the involvement of the EIB’s involvement to de-risk raw materials projects and to leverage additional private funds.

EU Principles for Sustainable Raw Materials

The European Commission will launch a round table group that will focus on sustainable raw material extraction. The Commission will publish a set of EU principles on sustainable raw materials and guidance on industrial actions.

Mr Šefčovič has called for the acceleration of the proposed batteries regulation and for implementation by 2022.

EIT InnoEnergy to Lead Batteries Upskilling Programs

The EBA recognises the requirement to facilitate training programs and develop a specific set of skills within the value chain. EIT InnoEnergy have been tasked to team up with interested Member States to develop country specific proposals. The platforms for skill development and training in the regions complement the EBA250 academy for lithium-ion battery projects.

Infinity is progressing the development of the San José Lithium Project and is a member of the European Battery Alliance and European Raw Materials Alliance. EIT InnoEnergy has demonstrated support for Infinity's San José with an investment (refer to ASX announcement 18 June 2020) to focus on sustainability through raw material extraction and refining in line with priorities highlighted in the 5th Ministerial Meeting of the European Battery Alliance.

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

About Infinity Lithium

Infinity Lithium is an Australian listed minerals company who is seeking to develop its 75% owned San José Lithium Project in Spain. The proposed fully integrated industrial Project is focused on the production of battery grade lithium chemicals from a mica feedstock that represents the EU’s 2nd largest JORC compliant hard rock lithium deposit.

The Project would provide an essential component in the EU’s development of a vertically integrated lithium-ion battery supply chain. The availability of critical raw materials and the production of battery grade lithium hydroxide in the EU is essential to ensure the long-term production of lithium-ion batteries for electric mobility and the transition of the burgeoning EU’s automotive industry to electric vehicle.

Infinity Lithium Corporation Limited ACN 147 413 956

INF FRA 3PM

AUSTRALIAN ENERGY & MINERALS

INVESTOR CONFERENCE

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DISCLAIMER

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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CORPORATE SNAPSHOT

Recent A$15m placement providing the runway to:

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Complete San Jose feasibility study for Q4 2021

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Advance permitting with the view to lodging mining and environmental applications in 2021

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Build out technical and commercial capabilities

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Progress discussions with offtake and strategic partners across all levels of the lithium-ion battery chain

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Introduce long-term institutional and international shareholders

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CORPORATE INFORMATION (ASX:INF)

Shares on issue	~ 402.5m
Options, SARS	~ 76.0m
Shareprice(1)	A$0.195
Market Cap (2)	A$78.5m
Cash(3) (Debt: nil)	A$19.5m

BOARD OF DIRECTORS

	Adrian Byass Non Executive Chairman
	Ryan Parkin CEO & ManagingDirector
	Jon Starink Chief Technical Officer
	RemyWelschinger Head of Corporate Development

MANAGEMENT

	Jonathan Whyte CFO & CompanySecretary David Valls General Manager: Extremadura Mining Cayetano Polo Head of Institutional Relations Lucas Robinson Investor Relations Manager
	Nicole Morcombe Corporate Development Manager

(1) Closing share price as at 15 March 2021

(2) Undiluted market capitalisation as 15 March 2021 (3) Cash as at 16 March 2021.

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WHY INFINITY LITHIUM?

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LITHIUM
POLICY DRIVEN EV UPTAKE EU VALUE CHAIN INFINITY LITHIUM
HYDROXIDE
EU Net Zero Carbon EU Rapid Adoption of Large Scale Investment EU Supply Critically Battery Grade Lithium
2050 EVs in Value Chain Exposed Hydroxide
EV uptake critical Registration EVs > Diesel Auto & battery production >80% Chinese convertors Fully integrated
EU Penalties EU Incentives Upstream Focus Critical EU Limited Supply Sustainability & Funding
Auto fleet CO2 profile Promote EV registrations Battery materials Limited resources Aligned to EU policy
Battery imports CO2 profile Phase out ICE Cathode production Sustainability criteria EU Green Deal & EIB
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(1) Lithium-ion battery; (2) Canaccord Genuity Estimates: September 2020

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SAN JOSÉ LITHIUM PROJECT: HIGHLIGHTS

FULLY INTEGRATED PRODUCTION OF BATTERY GRADE LITHIUM HYDROXIDE

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INF: 75% project ownership; option to further acquire 25%

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EU’s 2nd largest hard-rock lithium resource Planned production ~ 15kt pa[(1) ] lithium hydroxide

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Project life 30yrs

Pre-production Capex US $309m[(2)]

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NPV : US$860m IRR: 42.3% (10)

As announced on 22 August 2019. The Company confirms that it is not aware of any new information or data which affects the information disclosed and that all material assumptions underpinning the production target and project economics continue to apply and have not materially changed.

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

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VALIDATING STRONG ECONOMICS

Infinity lithium project lithium hydroxide pre-feasibility study

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Pre-Production Capital Expenditure Including Contingency

$309M

Processing 83%

NPV ₁₀ Pre-tax US$860M IRR Pre-tax Total Revenue From US$6Bn CAPEX² (Pre-production) Lithium Hydroxide OPEX¹ˑ³ US$5,434/t Capital Intensity Annual Production³ Project Life t 15,000t/y of lithium hydroxide Mine Life 2[nd] Largest Lithium 1.6Mt LCE Strip Ratio Resource in the EU

42.3% US$268M $US16K/t 30 years 19 years 0.43:1

100% Project Ownership Basis

• (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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• (2) Excludes contingency. Total pre-production CAPEX including contingencies US$309m

• (3) First 10 years of production

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EU POLICY: DRIVING THE EV MEGA TREND

The EU is committed to a Net Zero Carbon 2050 target

Indicative Fines for Exceeding Emissions Targets:

Strict regulations on emissions

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

EU Mass Adoption of EVs

Driven by policy, EV registrations in the EU pass diesel ICEs for the 1[st] time in Q3 2020[(2)]

Incentives

Substantial subsidies and tax incentives for consumers and businesses to switch to EV’s.

Major Carmakers[(1)]

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6 ◼ 2021 ◼ 2022
5
4
3
2
1
0
€ billions
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70%
60% Diesel
50%
40%
Gasoline
30%
20%
10%
Electrified Vehicles
0%
Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Apr-13 Jul-13 Oct-13 Jan-14 Apr-14 Jul-14 Oct-14 Jan-15 Apr-15 Jul-15 Oct-15 Jan-16 Apr-16 Jul-16 Oct-16 Jan-17 Apr-17 Jul-17 Oct-17 Jan-18 Apr-18 Jul-18 Oct-18 Jan-19 Apr-19 Jul-19 Oct-19 Jan-20 Apr-20 Jul-20
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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)] .

Europe plans ‘battery passport’ to ensure responsible sourcing of materials - leading to the European Commission drafting new legally binding environmental standards for batteries.

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(1) Source: Autovista Group based on ICCT and ACEA data; (2) Source: JATO 29 October 2020

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THE AUTOMOTIVE INDUSTRY IS ESSENTIAL TO SPANISH ECOMONY

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10% 18%
of Spain’s of total
GDP exports
2nd largest auto
manufacturer in EU Assembly industry
& 9th worldwide generated trade surplus of
€10.6bn
2.8m vehicles
produced 2019
4th ranked in turnover
2m total jobs: for auto-parts in EU
Direct ~ 365k
83% vehicles
9 multinational brand
exported to over 100
with 17 manufacturing
countries
plants
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Source: Spain Automotive https://www.spain.automotivemeetings.com/index.php/automotive-industry-in-spain Infinity Lithium Corporation Limited ICEX Ministry of Industry, Commercial and Tourism Invest in Spain https://www.investinspain.org/en/industries/automotive-mobility#:~:text=Spain%20ranks%20second%20in%20Europe,vehicles%20were%20manufactured%20in%20Spain.

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EU LITHIUM-ION BATTERY PRODUCTION SET TO SOAR

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EU production
Electric Vehicles
capacities for
Hard Rock Chemical Cathode Lithium-ion Battery Cell
Resource Conversion Production Production & Assembly cathodes, batteries
and EVs is booming
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INDUSTRY & POLICY LEADERS SUPPORT THE SPANISH EV VALUE CHAIN

The Spanish state has announced plans to build a battery cell factory for electric cars as part of a public-private consortium with the Volkswagen brand Seat and the energy company Iberdrola.

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• “If we don’t electrify Martorell (SEAT factory Barcelona) we’re not going to be competitive.” Wayne Griffiths: President of SEAT

“The important thing for Spain is that the entire electric vehicle production value chain goes through our country.”[(1)]

“Close to Martorell means we don’t have to bring the batteries from China. Close means Spain.” Reyes Maroto Spanish Minister for Industry, Trade and Tourism

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(1) https://www.electrive.com/2021/03/05/spain-considers-public-private-partnership-for-battery-plant/

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VOLKSWAGEN POWER DAY: REDESIGNING THE TRADITIONAL SUPPLY CHAIN

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Volkswagen AG Power Day focused on new strong partnerships and robust raw materials supplies:

6 x EU Giga factories totalling 240GWh

Supply chain with a high degree of local content Extending VW scope to the entire value chain Focusing on strategic partnerships upstream and downstream 80% of cell value in mining and chemistry

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(1) https://www.youtube.com/watch?v=vdnRfNwj1Fg

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INFINITY LITHIUM: LITHIUM MARKET & EU FOCUS

$24m The availability of battery grade lithium hydroxide remains key… as competition heats up between China and the EU

EU MEGAFACTORY PRODUCTION[(1)] CAPACITY

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500,000
CURRENT GLOBAL 508 GWh
450,000
DEMAND
18.8x
400,000
~ 300KT LCE 2019
350,000
300,000
276 GWh
250,000
200,000
150,000 6 x EU Giga factories
100,000 totalling 240GWh
CURRENT GLOBAL
50,000 27 GWh
CONVERSION
-
>200KT LiOH
2019 2024 2029
~ 83% LiOH
5.4% 13.8% 17.1%
of global megafactory capacities
LCE tonnes
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(1) Source: Benchmark Mineral Intelligence

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NET CARBON NEUTRAL 2050: EU FUNDING

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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Infinity part of EIT InnoEnergy led Coronavirus Recovery Fund SEAT-VW Iberdrola Consortium:
Seeking additional project partners
Battchain €750 billion
consortium submission
Spain’s Share
for €140 billion
€1.2b
of Coronavirus Recovery
Funds
Promotion of Industrial
Feb 2021
Competitiveness and
Sustainability Projects(‘ PICSP ’)
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LITHIUM MARKET & EU FOCUS

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BATTERY GRADE LITHIUM HYDROXIDE
2 [nd]
Urgent response is required in the EU
Europe is forecast be
the 2 [nd] largest producer of:
Electric
Lithium
vehicles
Validation of the
European included in the
critical
Commission EU List of
Lithium-ion drive to develop importance Critical
of lithium
batteries
an EU lithium- Raw Materials
chemical
ion value chain in September
conversion
2020
Cathodes
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“ What we need is access to the raw materials, but also need to build refining capacity.”

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Maros Šefčovič Vice President of the European Commission Leader of EBA & ERMA

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(1) Source: Euractiv 20 October 2020 “EU’s Šefčovič: Europe must be ‘much more strategic’ on raw materials.”

Infinity Lithium Corporation Limited

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SAN JOSÉ ESSENTIAL FOR SPAIN & EXTREMADURA

“ If Extremadura wants to become a relevant player, it will have to facilitate and accelerate mining $24m Diego Pavía projects such as San José de Valdeflórez”[(1)] CEO: EIT InnoEnergy

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DIRECT INF FACILITATING SERVICES
INVESTMENT INVESTMENT
Utilising
€800,000 €2.4m €300m
EBA
~ A$1.3m ~ A$4.0m ~ A$500m
Network
Feasibility Study Pilot Plant Project Finance Offtake & IP
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(1) Source: HOY.ES. Interview with Diego Pavia, CEO of the European platform EIT InnoEnergy. 29 December 2020

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INFINITY LITHIUM TECHNICAL PROGRAM

TECHNICAL ADVISORY COMMITTEE Leading lithium processing experts leading the test work program

Jon Starink

Chief Technical Officer

• Highly credentialed lithium expert

• Significant experience in hard-rock lithium projects & development of downstream lithium chemical conversion facilities

David Maree Technical Advisor

• Process Development Scientist with significant experience in world class hard rock lithium projects

• Principal Research Scientist with Talison Lithium (Greenbushes) from 2011 – 2015

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GOOD CITIZENS: ESG PROFILE

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

NO SHIPPING OF PLANT FEEDSTOCK: resource & conversion plant on site

EU SOURCED REAGENTS: common fertilizer used instead of sulfuric acid

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

RECYCLING OF KEY INPUTS: potassium sulphate & water DRY STACK TAILINGS: benign waste profile allows continuous rehabilitation

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

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INFINITY LITHIUM: MILESTONES

Finalise granting of investigation permits

Cayetano Polo Head of Institutional Relations

• Prior Leader of Ciudadanos

• (regional), and Provincial Deputy of Cáceres.

• Environmental Engineer

• Institutional Relations

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SUMMARY

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Fully integrated lithium hydroxide production in the EU

European Deal with InnoEnergy: Funding feasibility test work

Strategic asset as Spain's auto industry transitions to EVs

Tier 1 project with compelling financial fundamentals EU political and financial support for lithium value chain

ESG friendly project credentials aligned to EU policy

FOLLOW US infinitylithium.com sanjosevaldeflorez.es Infinity Lithium @Infinitylithium

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SUPPORTED BY

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