WA – Valley???

Phil Thick GM

29 January 2018

© Tianqi Lithium Australia Lithium Market

Roskill (June 2017) & Combined Lithium Demand Forecasts through 2026 by Leading Global Lithium Analysts, Investment Banks & Market Parcipants 1,200,000 2026 1,000kt LCE 1,000,000

800,000 2021 450kt LCE 600,000 LCE (ton) 400,000

200,000

- 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

Average of CAGR Esmates (13.4% CAGR) Roskill 2017 (17.7% CAGR)

Source: Average of CAGR Esmates (Roskill, June 2017; Albemarle Investor Day Presentaon, 16 March 2017; SQM Investor Day Presentaon, 9 September 2017; Industrial Minerals Lithium Presentaon, 1 June 2017; Canaccord Genuity Lithium Market Update, 27 June 2017; Stormcrow Lithium Presentaon, 31 May 2017; Deutsche Bank Lithium Ion Age Report, 9 May 2016)

§ Roskill (June 2017) Base Case Forecast CAGR¹ (17.7%) / Consensus (13.4%) through 2026 § 4.2016 LCE Market² demand forecast to increase more than Update 3-5x from 200ktpa to 700-1,000ktpa by 2026 § Demand driven by the rechargeable baery sector which is supported by pro EV government policy and the introducon of new EV models by automakers 2 Western Australian Lithium

Talison Lithium – Greenbushes • Tianqi Lithium own 51% of Talison Lithium who operate the Greenbushes mine in

• 128 years of mining (Tin, Tantalum, Lithium)

• Commenced manufacturing lithium concentrate in 1985, experts in this field for >30 years

• World’s largest lithium producer (30-35% of the global lithium supply)

• Largest and highest grade mineral resource globally

• 2016 lithium proven and probable mineral reserves 86.40Mt at a grade of 2.35% Li2O (life of mine >60 years)

• Highly flexible operation, able to adjust production profile to meet market demand

3 Western Australian Lithium

Other Lithium Sources

– Pilgangoora – Pilbara Minerals – Pilgangoora – Altura Minerals – Wodgina – Mineral Resources – Mt Marion – Mineral Resources/Neometals – Mt Cattlin – Galaxy Resources – Bald Hill – Tawana Resources – Earl Grey – Kidman Resources

4 Tianqi Lithium Corporation

– Headquartered in Chengdu China, one of the 4 major global lithium companies – Listed on Shenzhen Stock Exchange market cap ~ US10 billion – Operates the two largest lithium carbonate plants in the world in China – Seeking expansion opportunities to meet rapidly rising global demand – Building new $400million plant in Kwinana – Fast tracked stage 2 of plant – another $320million already commenced – Expanding Greenbushes mine with $320million expansion

– Kwinana Processing Plant (LHPP) will be the largest in the world – 3 times size of next largest – Highest purity lithium hydroxide in the world

– Why Kwinana?

5 Kwinana – Multiple advantages

• Kwinana is the largest industrial area in WA with approximately 4,500 people directly employed and 25,000 secondary jobs arsing from the companies in the area • 65% of people employed in the KIC are from the local area, so ready source of qualified and trained people • Access to water, gas and electricity • Access to reagents • Access to top quality construction and maintenance facilities • Proximity to mine and container port

6 Simplified and integrated production and delivery logistics supply chain

Mine to chemical plant • Greenbushes to Kwinana • 250km, 3 hours by road Chemical plant to export port • Kwinana to Fremantle • 30km, 30 mins by road

Converng lithium ore to lithium chemicals in approximately 6 weeks (based on Tianqi’s producon chain) 7 LHPP Update

• 100% Tianqi Lithium owned project currently under construction

• Capacity: 48,000tpa battery-grade lithium hydroxide

• World’s largest and first fully automated battery-grade lithium hydroxide facility

• Train 1 (24,000tpa) construction expected to be complete by the end of 2018

• Train 2 expected to add another 24,000tpa capacity by the end of 2019

• Converting Greenbushes into battery-grade lithium hydroxide for use in

the EV industry

• ~85% of contract spend awarded to local WA companies

8 October 2016

9 January 2018

10 Where to from here?

• Can WA/Kwinana become a key player in the global lithium market?

• Can we go further down the supply chain?

• Can we become a major battery producer?

• What would it take to make these things happen?

11