LAKE RESOURCES N.L. — Investor Presentation 2017

Jul 19, 2017

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LAKE RESOURCES Size, Location, Unlocked Value - Lithium at a Higher Level - Steve Promnitz, Managing Director Morgans Mining Conference - 19 July 2017

Disclaimer

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This presentation has been prepared by Lake Resources N.L (Lake) for information purposes and meetings with sophisticated and professional investors, institutional investors and brokers and not any particular party. The information in this presentation is based upon public information and internally developed data and reflects prevailing conditions and views as of this date, all of which are accordingly subject to change. The information contained in this presentation is of general nature and is not intended to address the circumstances of any particular individual or entity. There is no guarantee that the information is accurate as of the date it is received or that it will continue to be accurate in the future. No warranties or representations can be made as to the origin, validity, accuracy, completeness, currency or reliability of the information. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. Lake Resources NL accepts no responsibility or liability to any party in connection with this information or views and Lake disclaims and excludes all liability (to the extent permitted by law) for losses, claims, damages, demands, costs and expenses of whatever nature arising in any way out of or in connection with the information, its accuracy, completeness or by reason of reliance by any person on any of it. The information regarding projects described in this presentation are based on exploration targets. The potential quantity and grade of an exploration target is conceptual in nature, there has been insufficient exploration to determine a mineral resource and there is no certainty that further exploration work will result in the determination of mineral resources or that potentially economic quantities of lithium will be discovered. Some property applications are located within and around the Orocobre and Lithium Americas projects and although data is limited within the properties, the tenements may cover potential extensions to the Cauchari/Olaroz projects with potential extensions to aquifers, although this provides no assurance that any resource will be identified on the Lake applications. The lithium pegmatite leases under option occur adjacent to Latin Resources leases but no potential extension to any mineralisation can be assured.

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Certain statements contained in this presentation, including information as to the future financial performance of the projects, are forward‐looking statements. Such forward‐looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Lake Resources N.L. are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies; involve known and unknown risks and uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results, expressed or implied, reflected in such forward‐looking statements; and may include, among other things, statements regarding targets, estimates and assumptions in respect of production and prices, operating costs and results, capital expenditures, reserves and resources and anticipated flow rates, and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions and affected by the risk of further changes in government regulations, policies or legislation and that further funding may be required, but unavailable, for the ongoing development of Lake’s projects. Lake Resources N.L. disclaims any intent or obligation to update any forward‐looking statements, whether as a result of new information, future events or results or otherwise. The words “believe”, “expect”, “anticipate”, “indicate”, “contemplate”, “target”, “plan”, “intends”, “continue”, “budget”, “estimate”, “may”, “will”, “schedule” and similar expressions identify forward‐looking statements. All forward‐looking statements made in this presentation are qualified by the foregoing cautionary statements. Investors are cautioned that forward‐looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward‐looking statements due to the inherent uncertainty therein. Lake does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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Size, Location

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Large Tenement Package One of the Largest Lease holdings in a listed company ~ 170,000 Ha

Low relative market cap Large projects Many catalysts to unlock value

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Prime Location Amongst the Majors Production & Development projects next to Lake Projects

Major corporate deals completed on adjoining projects up to US$286M Projects in desired locations

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Brine & Hard rock

3 brine projects well located 1 large pegmatite project

Drilling / Newsflow , Drilling about to start Recent permitting success Potential for Offtake partners

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Prime Location

Lowest Cost Production Globally

Orocobre

OLAROZ PASO

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Among Major Producers

Lake - Olaroz/Cauchari. Paso projects near Orocobre & SQM/Lithium Americas Lake – Kachi project near Albemarle & FMC

Large Lease Holdings 170,000 Ha 4 Projects 3 Brine Projects 1 for Hard rock Pegmatites

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KACHI
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Neo Lithium
PEGMATITES
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Source: Advantage Lithium

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Lake Resources
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Corporate Snapshot

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LAKE RESOURCES (ASX:LKE)

Total Current Shares on Issue	227,493,026
Listed Options (10c)	19,350,000
Unlisted Options (5c)	31,250,000
Unlisted Options (10c)	1,539,250
Option over Catamarca Pegmatite project if exercised	19,000,000

Market Data

Market Cap ($A)	@ 4.0 cents/share (20 day VWAP)	$9 million
Cash ($A)	31 Mar 17 (No debt)	$1,800,000
Share Price	52 week range	$0.03 – 0.08/sh
Share Register	60% Top30, HNW

Funded Exploration Low Market Cap Deep Value – to be Unlocked

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Lithium Brine & Hard rock

Size, Scale, Optionality - 4 Projects -

Rare exposure to both brine and pegmatite projects One of largest listed lease holdings in Argentina

3 Lithium Brine Projects – 100,000 Ha Kachi – Drilling about to commence Olaroz/Cauchari – Drill access to follow recent success Paso – Drill access to follow

1 Lithium Hard rock Project – 70,000 Ha Catamarca Pegmatites – Early stage Recent drilling in adjoining leases

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Kachi – New Discovery …

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Value ,

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Potential ,

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Kachi Drilling

New Discovery Potential

Maiden drill program soon in large untested basin Positive surface results vindicate drilling focus Results should lead to resource & scoping study

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Olaroz Cauchari Project

Adjoins Production & Major Development

Lithium Brine Project adjoins Orocobre Production & SQM/Lithium Americas Development Project

~19,000 Ha targeting same aquifers; pre-boom applications

Drill access to follow recent permitting success

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Source: Jujuy Registro Grafico Feb 16, Past Orocobre and Lithium America releases

Same Aquifer…

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Potential for Same Aquifer

Target lateral extensions of same aquifer in production & being developed.

New Target Methodology

Recent research shows high flow potential drill targets along faulted boundaries of basin.

Recent Success in Permitting

Applications (pre-boom) were successfully progressed which will lead to drilling access. Working collaboratively with regulators

• Refers to Lithium Americas 2012 Feasibility Study

Olaroz/Cauchari Section

Targets on basin boundaries with potential for same aquifer & high flows

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Source: Lithium Americas

Large Belt of Pegmatites

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Large area 70,000Ha ,

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Experienced Board

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STEVE PROMNITZ

STU CROW

Chairman Non-Exec

Managing Director

More than 25 years of experience (numerous public companies) and in financial services

Extensive Project Management experience in South America – Geologist and Finance experience

Experienced Local Team

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NICK LINDSAY

ANDREW BURSILL

Non-Exec Director

CFO/Company Secretary

25+ years of experience in Argentina/Chile/Peru (PhD in Metallurgy& Materials Engineering); Taken companies from inception to development to acquisition on projects in South America

Accounting/ governance experience. Director, CFO and Coy-Sec of a number of ASX companies

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Geologists; Hydrogeologists; Assistants

Legal & Accounting

Head Hydrogeologist ex-Orocobre; ex-NeoLithium Extensive exploration experience in Argentina Existing long term relationships with team members

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Unlocking Deep Value

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Drilling

With Start of Drilling Drilling on Kachi soon Results to display upside in potential new discovery

Catalyst rich 2H2017

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Offtake
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Approvals

Permitting Approvals to Access Olaroz-Cauchari Recent permitting success should lead to approvals for access

Offtake Partner Potential

& Resource/Scoping Study

Discussions can advance with potential Offtake Partners once drill results available – leading to resource & scoping study

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Lithium Demand Up - Supply Choked

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New Gigafactories - 6x growth China CATL larger than Tesla in 2020 Indian Gigafactories - now coming

Electric Vehicle Growth Forecast Annualised from 2015 to 2017 Electric Vehicles sales up- China/Europe. Volvo 100% EV in 2019. Batteries are a third of the cost of EV – US$100-200/kWh parity with ICE combustion cars. Audi now at $114/kWh; GM at $135/kWh

Forecast 500k -1M+ tonnes LCE 2023 LCE Production 200k in 2016 is equal to total Tesla Model 3 use at full production (500k/yr)

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Source: Visual Capitalist; Benchmark Mineral Intelligence; CAAM; NY Times; Energy Storage News; CBU; UBS; , Lowry, Seba; Canaccord;

Low Cost Region

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Lithium Brine Producers – Lowest Cost Chile & Argentina are the lowest cost lithium producers globally and are forecast to remain the lowest cost and largest producers.

Offtakers/Majors want Assets in this Region Lake secured projects/assets in this region.

Pegmatite Producers fill gap short-term

Demand short-fall will be filled short term by hard rock developers/producers

Lithium Cost Curve

Shows Chile/Argentina lithium brine (blue) consistently the lowest cost producers

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Source: Lithium Americas; Deutsche Bank

Deep Value – Market Comparison

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740
700
570
350
230
160 180 170
60
9 60
9
Lithium Advantage Lithium -X Latin Argosy Lake
Americas Lithium Corp Resources Minerals Resources
(LAC:TSX) (AAL:TSX-V) (LIX:TSX-V) (LRS:ASX) (AGY:ASX) (LKE:ASX)
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Source: Galaxy Resources; Update July 17

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Scale, Value, Catalysts

Kachi - New

Discovery Potential Positive Lithium Results Large basin; Undrilled Consolidated title Maiden drill program

Prime Location Large Leaseholding Amongst the Majors Lowest Cost Production Same Aquifers … Large tenement package Positioned pre-boom

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Brine & Hardrock Scale, Optionality 4 Key Projects Full lithium offering Development Potential

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Drilling, Access, Many Catalysts Drilling about to start Recent permitting success to unlock deep value Catalysts in news flow

Deep Value to be Unlocked Low relative market cap Major projects Many catalysts to unlock value Offtake Partner potential

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– JORC Code 2012 Edition Appendix 1

Criteria

Sampling techniques Logging Sub-sampling techniques and sample preparation Quality of assay data and laboratory tests

Section 1 - Sampling Techniques and Data

The information contained in this presentation relating to Exploration Results has been compiled by Mr Andrew Fulton. Mr Fulton is a

Hydrogeologist and a Member of the Australian Institute of Geoscientists and the Association of

Hydrogeologists. Mr Fulton has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a competent person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Andrew Fulton is an employee of Groundwater Exploration Services Pty Ltd and an independent consultant to Lake Resources NL. Mr Fulton consents to the inclusion in this presentation of this information in the form and context in which it appears. The information in this presentation is an accurate representation of the available data from initial exploration at the Kachi project.

Criteria Mineral tenement and land tenure status Exploration by other parties

Geology

Further work

Section 2 - Mineral Tenement and Land Tenure Status

Verification of sampling and assaying

Location of data points Data spacing and distribution Orientation of data in relation to geological structure

Sample security

Review (and Audit)

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steve@lakeresources.com.au www.lakeresources.com.au +61 2 9188 7864 IR (Henry) +61 431 271 538

twitter.com/Lake_Resources