Lake Resources NL : Investor Presentation Opens in a new Window

DEEP VALUE

BEST

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ADDRESS

LARGE

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RESOURCE

TECHNOLOGY - FASTER, CHEAPER

LAKE RESOURCES

4 PROJECTS - OPTIONALITY

Lithium - Size; Best Location Kachi - Large Resource; New Tech Cauchari /Olaroz - Adjoin Production Update - Post Maiden Kachi Resource

January 2019

Disclaimer

General Statement and Cautionary Statement

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 past producers of spodumene but no potential extension to any mineralisation can be assured.

Forward Looking Statements

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.

Investment Highlights

Lake Resources (ASX:LKE) - Lithium exploration/development in Argentina - 3 lithium brine & 1 hard rock lithium project

- One of Largest Lease Holdings of Lithium ~ 200,000 Ha, provides scale, optionality

Flagship Projects:

Kachi - Large Resource (Top 10); Large Target; 100% owned

• - Large maiden resource: 4.4 Mt LCE (Indicated & Inferred) - In Top 10 global lithium brine resources

• - Indicated: 1 Mt LCE Inferred: 3.4 Mt LCE (Lithium Carbonate Equivalent) Defined in 1 year

• - Large basin: 20km x 15km x 400-800m deep; Leases cover entire brine basin 69,000 Ha (100% LKE)

• - PFS to start - development - conventional & direct extraction methods

• - Direct extraction method - Lowest quartile opex costs US$2600/t LCE fcast; Reduced time to production

• - Located 80km south of FMC/Livent (20 years production)

Olaroz - Cauchari - Adjoins Orocobre/Advantage Lithium, Ganfeng/Lithium Americas

- Extensions of world class lithium brine resources - Grade, scale - Next to Production / Development

- Drilling underway 450m from major resources; pegged leases 2.5 years ago

Pegmatites - 80,000 Ha - New modern targets in past producing pegmatite belt in Catamarca

Major Transactions in Area - Cauchari - Next to major acquisition $237M at Cauchari (Gangfeng Aug'18) = 8x LKE market value

- Kachi - South of Galaxy sale of resource - US$280M (POSCO June-Dec 2018)

- Implied Acquisition Value: US$70-110 M per 1 Mt LCE resource

Undervalued vs Peers:

- Comparisons with peer lithium companies in Argentina - shows deep value in LKE

- Neighbours market value $100M to $1000M; Recent LKE research $0.73 price target

Prime Location

4

This land package is part of the Lithium Triangle from where ~50% of the world's lithium is produced at the lowest costs.

Center for Major Lithium Production And Development

LKE - Large Lease Holdings

Next to Majors

~200,000 Ha

3 Brine Projects, 1 Hardrock 100% owned

Experienced Board and Management

STEVE PROMNITZ

Managing Director

Extensive Project Management experience in South America -

Geologist and Finance experience

STU CROW Chairman Non-Exec

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

NICK LINDSAY

Non-Exec Director 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

ANDREW BURSILL CFO/Company Secretary

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

Experienced Local Team

Geologists; Hydrogeologists; Assistants

Legal & Accounting

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