Galan Lithium Limited

Highlights

• Ramp-up of Hombre Muerto West (HMW) Phase 1 operations progressing well with first lithium chloride concentrate sales on track for Q4 CY 2026
• Over 3 months of plant operational data recorded with 98% or greater rejection of sulphate, supporting the upgrading of lithium chloride concentrate to the targeted 6% Li content
• Initial targeted throughput rate of 4 ktpa LCE expected to be achieved in H1 2027 as the plant transitions into warmer seasonal conditions
• Earthworks associated with the expansion of HMW Phase 1 from 4 ktpa to 5.2 ktpa LCE have commenced on site, with higher production volumes targeted in H2 2027
• Additional plant processing capacity planned to provide greater operational resiliency through future winters
• Strong cash position of A$25 million with no debt. Undrawn offtake prepayment facility of US$ 6 million

Highlights

• First LiCl concentrate sales on track: Galan remains on schedule to deliver first lithium chloride (LiCl) concentrate sales from HMW Phase 1 in Q4 CY2026.
• Impurity separation performing in line with expectations: The nanofiltration plant continues to deliver impurity separation in line with piloting results and Company expectations.
• Ramp-up productivity improving: Plant productivity has continued to improve throughout the ramp-up period, providing confidence the initial targeted throughput rate of 4ktpa will be achieved as the operation moves into warmer seasonal conditions. Additional plant processing capacity is planned for operational resilience in winter.
• Phase 1 expansion earthworks commenced: Earthworks associated with the initial expansion of HMW to 5.2 ktpa have commenced on site.

Galan Lithium Limited (ASX:GLN) (Galan or the Company) is pleased to release an updated investor presentation, highlighting the Company's position as an emerging ASX-listed lithium producer with a top-10 global lithium resource, trading at a material discount to its ASX-listed peers.

Highlights

• Production ramp-up continues with inventory of processed lithium chloride building in final evaporation ponds

• Excellent rejection of impurities from the nanofiltration plant, consistent with plant design specifications

• Optimisation phase now underway, targeting stabilised production at an annualised rate of 4 ktpa LCE; lithium chloride concentrate and first product sales targeted in H2 2026

• Circa 10,000 t LCE brine inventory in the evaporation ponds provides immediate feedstock for a sustained production ramp-up

• Expansion of Phase 1 from 4 ktpa LCE to 5.2 ktpa LCE on track; pond construction works starting in September quarter, targeting a capacity uplift in H1 2027

• Strong cash position of A$35.5 million with no debt

Galan Lithium Limited (ASX:GLN) requests that its securities be placed in voluntary suspension effective immediately.

Highlights

• Phase 1 construction at Hombre Muerto West (HMW) completed, a key inflection point as Galan transitions from developer to producer

• Plant electrical and mechanical systems testing complete, wet commissioning phase to commence soon

• A$40 million institutional placement completed at A$0.41 per share to fund the Phase 1 capacity expansion from 4 ktpa LCE to 5.2 ktpa LCE, working capital and to fund exploration activities at Greenbushes

• Significant brine inventory of circa 10,000 t LCE will be ready for processing by end of April 2026; first lithium chloride concentrate targeted in H1 2026, first shipment H2 2026

• Board strengthened with appointment of Mr Ofer Amir as Non-Executive Director; Ms Katherine Garvey appointed Company Secretary

• Strong cash position of A$ 40.7 million with no debt.

Highlights:

• Phase 1 construction at Hombre Muerto West now complete

• Production to start at 4 ktpa LCE, works to expand production capacity to 5.2 ktpa LCE soon to commence

• All major processing infrastructure installed, including nanofiltration plant

• Project transitioning into testing and commissioning phase

• Significant brine inventory of circa 10,000 t LCE ready for processing by end of April 2026

• First lithium chloride concentrate targeted in H1 2026, first shipment H2 2026

Highlights:

• Phase 1 construction now approximately 92% complete

• Nanofiltration plant assembly progressing to plan

• Construction expected to complete in the short term, transitioning to testing and commissioning

• Nanofiltration plant commissioning with raw brine expected to follow successful testing

• Significant brine inventory ready for processing

• First lithium chloride concentrate in H1 2026, first shipment H2 2026

Highlights:

• Nanofiltration plant successfully delivered to HMW site

• Galan and Authium teams have commenced on-site assembly. Assembly expected to be completed over the coming weeks

• Evaporation (sylvinite) ponds for Phase 1 operations completed

• Overall Phase 1 construction now approximately 85% complete

• First processed brine expected early Q2 2026. First lithium chloride concentrate targeted in H1 2026

Highlights:

• Galan has received firm commitments to raise A$40 million (before costs) via an institutional placement at A$0.41 per share, a 2% premium to the 5-day VWAP

• Directors of the Company have separately committed to subscribe for an additional A$1 million subject to shareholder approval

• Placement was strongly supported by existing substantial shareholder Clean Elements as well as global institutional and sophisticated investors

• Proceeds of the capital raising will be used to expand production at HMW from current planned 4 ktpa LCE to 5.2 ktpa LCE, fund exploration activities at Greenbushes South and for working capital

• Phase 1 construction works at HMW continue to progress with first production targeted for H1 2026

Highlights

• Phase 1 construction at Hombre Muerto West (HMW) on track for first production in H1 2026, well timed to take advantage of a lithium market recovery

• Strategic expansion of Greenbushes South tenure

• Early completion of the second tranche of the Clean Elements leading to a strong financial position with cash of $15 M. (as at 31 December 2025), no debt and an undrawn US$ 6 M. prepayment facility

Highlights:

• Nano-filtration plant has been assembled and tested off-site and is now in transit to Hombre Muerto West (HMW)

• Phase 1 construction activities at HMW continue to advance toward completion, ahead of expected first production of lithium chloride in H1 2026

Highlights

• Successful completion of due diligence by the Clean Elements Fund ("Clean Elements") confirming HMW's world-class status; $20 million placement to proceed with full and final settlement due by November.

• RIGI incentive regime approved by the Argentine Government for the HMW Project, providing fiscal stability and significant long-term benefits.

• Advancement of Phase 1 construction at Hombre Muerto West (HMW), including completion of Pond 4 design and progress on nano-filtration plant fabrication in Sydney.

• No debt and strong cash position of approx. $11m with a further $10m in placement proceeds due in November.

• Galan remains funded to complete Phase 1 construction and deliver first lithium chloride production in H1 2026.

• Strategic expansion of Greenbushes South tenure.

Highlights:

• Grant of E70/4889 secures tenure directly over the mineralising fault zone controlling the world-class lithium deposit at Greenbushes.

• High-impact program planned to test structural targets and assess mineralisation continuity into Galan's Greenbushes South holdings (E70/4790).

Highlights:

• Site construction activities in Argentina progress with Pond 4 design complete

• Authium advances nano-filtration plant construction in workshop in Sydney; general equipment assembly to commence

• Testwork confirms excellent impurity separation and successful stress testing of filtration elements